{"version":"1.0.0","segments":[{"speaker":"Matt Zahab","startTime":7.92,"endTime":10.38,"body":"Ladies and"},{"speaker":"Matt Zahab","startTime":7.92,"endTime":10.38,"body":"gentlemen, today's guest is a"},{"speaker":"Matt Zahab","startTime":10.38,"endTime":14.25,"body":"pioneer and future Hall of Famer"},{"speaker":"Matt Zahab","startTime":10.38,"endTime":14.25,"body":"in the Indian crypto community."},{"speaker":"Matt Zahab","startTime":14.73,"endTime":18.93,"body":"He's the founder and CEO of"},{"speaker":"Matt Zahab","startTime":14.73,"endTime":18.93,"body":"WazirX, India's largest and most"},{"speaker":"Matt Zahab","startTime":18.93,"endTime":23.01,"body":"trusted crypto exchange. Last"},{"speaker":"Matt Zahab","startTime":18.93,"endTime":23.01,"body":"month, our guest and his team"},{"speaker":"Matt Zahab","startTime":23.04,"endTime":26.52,"body":"added 1 million users to the"},{"speaker":"Matt Zahab","startTime":23.04,"endTime":26.52,"body":"platform. You heard that right."},{"speaker":"Matt Zahab","startTime":26.55,"endTime":30.57,"body":"1 million users in one month,"},{"speaker":"Matt Zahab","startTime":26.55,"endTime":30.57,"body":"talk about banana land. On this"},{"speaker":"Matt Zahab","startTime":30.57,"endTime":34.14,"body":"show, we love men and women are"},{"speaker":"Matt Zahab","startTime":30.57,"endTime":34.14,"body":"the people and this gentleman is"},{"speaker":"Matt Zahab","startTime":34.14,"endTime":37.44,"body":"definitely one of them. He oozes"},{"speaker":"Matt Zahab","startTime":34.14,"endTime":37.44,"body":"empathy, and is leading the"},{"speaker":"Matt Zahab","startTime":37.44,"endTime":41.49,"body":"charge for crypto regulation in"},{"speaker":"Matt Zahab","startTime":37.44,"endTime":41.49,"body":"India. I'm pleased to welcome to"},{"speaker":"Matt Zahab","startTime":41.49,"endTime":44.85,"body":"the crypto news podcast, Nischal"},{"speaker":"Matt Zahab","startTime":41.49,"endTime":44.85,"body":"Shetty. Nischal, welcome to the"},{"speaker":"Matt Zahab","startTime":44.85,"endTime":45.93,"body":"show, my friend. Hey, man,"},{"speaker":"Nischal Shetty","startTime":46.02,"endTime":48.33,"body":"Thanks a lot for"},{"speaker":"Nischal Shetty","startTime":46.02,"endTime":48.33,"body":"having me on the podcast."},{"speaker":"Nischal Shetty","startTime":48.36,"endTime":85.02,"body":"Pleasure to be here."},{"speaker":"Matt Zahab","startTime":49.26,"endTime":52.62,"body":"Thank you very much,"},{"speaker":"Matt Zahab","startTime":49.26,"endTime":52.62,"body":"sir. We are extremely happy to"},{"speaker":"Matt Zahab","startTime":52.62,"endTime":57.06,"body":"have you on. First topic that I"},{"speaker":"Matt Zahab","startTime":52.62,"endTime":57.06,"body":"do want to get into is a bit of"},{"speaker":"Matt Zahab","startTime":57.06,"endTime":61.71,"body":"a dire one, and that is the"},{"speaker":"Matt Zahab","startTime":57.06,"endTime":61.71,"body":"unfortunate COVID-19 situation"},{"speaker":"Matt Zahab","startTime":61.74,"endTime":66.09,"body":"in India. I see this all around"},{"speaker":"Matt Zahab","startTime":61.74,"endTime":66.09,"body":"Twitter, I see this on the news."},{"speaker":"Matt Zahab","startTime":67.35,"endTime":70.11,"body":"My condolences to everyone"},{"speaker":"Matt Zahab","startTime":67.35,"endTime":70.11,"body":"there. I know it's just"},{"speaker":"Matt Zahab","startTime":70.2,"endTime":74.79,"body":"bsolute craziness right now and"},{"speaker":"Matt Zahab","startTime":70.2,"endTime":74.79,"body":"wish that countries around the"},{"speaker":"Matt Zahab","startTime":74.79,"endTime":80.16,"body":"orld could do more to help you"},{"speaker":"Matt Zahab","startTime":74.79,"endTime":80.16,"body":"uys, because it's just not good"},{"speaker":"Matt Zahab","startTime":80.16,"endTime":84.45,"body":"nd quite frankly, everyone"},{"speaker":"Matt Zahab","startTime":80.16,"endTime":84.45,"body":"hould be chipping in. I would"},{"speaker":"Matt Zahab","startTime":84.45,"endTime":87.75,"body":"ove to hear your point of view"},{"speaker":"Matt Zahab","startTime":84.45,"endTime":87.75,"body":"s someone on the ground in"},{"speaker":"Matt Zahab","startTime":87.75,"endTime":90.84,"body":"ndia right now, about the whole"},{"speaker":"Matt Zahab","startTime":87.75,"endTime":90.84,"body":"ituation, the COVID 19"},{"speaker":"Matt Zahab","startTime":90.84,"endTime":91.98,"body":"ituation in India."},{"speaker":"Nischal Shetty","startTime":91.0,"endTime":96.82,"body":"It is definitely"},{"speaker":"Nischal Shetty","startTime":91.0,"endTime":96.82,"body":"not looking good. Though, I"},{"speaker":"Nischal Shetty","startTime":96.82,"endTime":100.87,"body":"think a few days back quite a"},{"speaker":"Nischal Shetty","startTime":96.82,"endTime":100.87,"body":"few of the cities which have"},{"speaker":"Nischal Shetty","startTime":100.87,"endTime":105.37,"body":"been majorly impacted in India"},{"speaker":"Nischal Shetty","startTime":100.87,"endTime":105.37,"body":"have announced a complete"},{"speaker":"Nischal Shetty","startTime":105.37,"endTime":109.87,"body":"lockdown. And right now, even"},{"speaker":"Nischal Shetty","startTime":105.37,"endTime":109.87,"body":"me, I'm just sitting at hom"},{"speaker":"Nischal Shetty","startTime":109.87,"endTime":114.16,"body":". None of us are stepping out"},{"speaker":"Nischal Shetty","startTime":109.87,"endTime":114.16,"body":"but, you know, this is like the"},{"speaker":"Nischal Shetty","startTime":114.16,"endTime":118.21,"body":"econd way for India. The firs"},{"speaker":"Nischal Shetty","startTime":114.16,"endTime":118.21,"body":"wave was bad. But this is prob"},{"speaker":"Nischal Shetty","startTime":118.24,"endTime":122.08,"body":"bly worse in terms of... I'll gi"},{"speaker":"Nischal Shetty","startTime":118.24,"endTime":122.08,"body":"e you an example, in the fi"},{"speaker":"Nischal Shetty","startTime":122.08,"endTime":125.92,"body":"st wave, In my company, I gu"},{"speaker":"Nischal Shetty","startTime":122.08,"endTime":125.92,"body":"ss only two or three people. So"},{"speaker":"Nischal Shetty","startTime":126.19,"endTime":131.32,"body":"that's a very small number of pe"},{"speaker":"Nischal Shetty","startTime":126.19,"endTime":131.32,"body":"ple got infected. But this ti"},{"speaker":"Nischal Shetty","startTime":131.32,"endTime":136.39,"body":"e around, I think about 15 or 20"},{"speaker":"Nischal Shetty","startTime":131.32,"endTime":136.39,"body":"or even more number of pe"},{"speaker":"Nischal Shetty","startTime":136.39,"endTime":141.37,"body":"ple in my company have been di"},{"speaker":"Nischal Shetty","startTime":136.39,"endTime":141.37,"body":"ectly affected, and a number of"},{"speaker":"Nischal Shetty","startTime":141.37,"endTime":145.51,"body":"family members. So you know, it"},{"speaker":"Nischal Shetty","startTime":141.37,"endTime":145.51,"body":"s just not just people getting"},{"speaker":"Nischal Shetty","startTime":145.51,"endTime":148.69,"body":"nfected, but even their family"},{"speaker":"Nischal Shetty","startTime":145.51,"endTime":148.69,"body":"embers near and dear ones, even"},{"speaker":"Nischal Shetty","startTime":148.69,"endTime":152.26,"body":"hey're infected. So this is whe"},{"speaker":"Nischal Shetty","startTime":148.69,"endTime":152.26,"body":"you know, and it's real, an"},{"speaker":"Nischal Shetty","startTime":152.26,"endTime":155.5,"body":"it's near you, it's in your"},{"speaker":"Nischal Shetty","startTime":152.26,"endTime":155.5,"body":"ouse. And that is what is hap"},{"speaker":"Nischal Shetty","startTime":155.83,"endTime":159.19,"body":"ening. And the result of this"},{"speaker":"Nischal Shetty","startTime":155.83,"endTime":159.19,"body":"hole situation is that there"},{"speaker":"Nischal Shetty","startTime":159.46,"endTime":162.67,"body":"are not enough hospital beds to"},{"speaker":"Nischal Shetty","startTime":159.46,"endTime":162.67,"body":"accommodate those who r"},{"speaker":"Nischal Shetty","startTime":162.67,"endTime":166.6,"body":"ally fall terribly sick due"},{"speaker":"Nischal Shetty","startTime":162.67,"endTime":166.6,"body":"o the virus. And we are heari"},{"speaker":"Nischal Shetty","startTime":166.6,"endTime":171.31,"body":"g reports of deaths due t"},{"speaker":"Nischal Shetty","startTime":166.6,"endTime":171.31,"body":"a lack of hospital beds, or, y"},{"speaker":"Nischal Shetty","startTime":171.31,"endTime":177.85,"body":"u know, a lack of, I would say,"},{"speaker":"Nischal Shetty","startTime":171.31,"endTime":177.85,"body":"oxygen cylinders supplies this"},{"speaker":"Nischal Shetty","startTime":177.85,"endTime":182.5,"body":"and, you know, add on top of thi"},{"speaker":"Nischal Shetty","startTime":177.85,"endTime":182.5,"body":", the whole fact that there's"},{"speaker":"Nischal Shetty","startTime":182.5,"endTime":186.07,"body":"a lockdown and people can"},{"speaker":"Nischal Shetty","startTime":182.5,"endTime":186.07,"body":"t run their, you know, shops,"},{"speaker":"Nischal Shetty","startTime":186.07,"endTime":189.91,"body":"they can't make their daily"},{"speaker":"Nischal Shetty","startTime":186.07,"endTime":189.91,"body":"ages, that's impacting even m"},{"speaker":"Nischal Shetty","startTime":190.12,"endTime":194.2,"body":"re. So it's like a really grim"},{"speaker":"Nischal Shetty","startTime":190.12,"endTime":194.2,"body":"situation, because it's"},{"speaker":"Nischal Shetty","startTime":194.2,"endTime":197.44,"body":"not just financial. It's also fr"},{"speaker":"Nischal Shetty","startTime":194.2,"endTime":197.44,"body":"m a medical supplies point"},{"speaker":"Nischal Shetty","startTime":197.44,"endTime":199.75,"body":"f view, you don't have access t"},{"speaker":"Nischal Shetty","startTime":197.44,"endTime":199.75,"body":"that. And I think the world a"},{"speaker":"Nischal Shetty","startTime":200.11,"endTime":205.27,"body":"d the country is doing what t"},{"speaker":"Nischal Shetty","startTime":200.11,"endTime":205.27,"body":"ey can. But these are unprecede"},{"speaker":"Nischal Shetty","startTime":205.66,"endTime":208.75,"body":"ted times, you know, you ju"},{"speaker":"Nischal Shetty","startTime":205.66,"endTime":208.75,"body":"t have to figure out what you"},{"speaker":"Nischal Shetty","startTime":208.75,"endTime":212.53,"body":"an do. But sometimes it's real"},{"speaker":"Nischal Shetty","startTime":208.75,"endTime":212.53,"body":"y hard because there's no solu"},{"speaker":"Nischal Shetty","startTime":212.56,"endTime":217.48,"body":"ion in sight right now. But I"},{"speaker":"Nischal Shetty","startTime":212.56,"endTime":217.48,"body":"eally be I think we are all pray"},{"speaker":"Nischal Shetty","startTime":217.48,"endTime":221.35,"body":"ng that the number of cases com"},{"speaker":"Nischal Shetty","startTime":217.48,"endTime":221.35,"body":"down. I think that's the immedi"},{"speaker":"Nischal Shetty","startTime":221.35,"endTime":224.68,"body":"te solution, which is you"},{"speaker":"Nischal Shetty","startTime":221.35,"endTime":224.68,"body":"an't really expedite the num"},{"speaker":"Nischal Shetty","startTime":224.68,"endTime":227.38,"body":"er of hospital beds because b"},{"speaker":"Nischal Shetty","startTime":224.68,"endTime":227.38,"body":"ilding a hospital takes time. I'"},{"speaker":"Nischal Shetty","startTime":227.38,"endTime":232.15,"body":"hearing about you know, on a ma"},{"speaker":"Nischal Shetty","startTime":227.38,"endTime":232.15,"body":"eshift hospitals being built o"},{"speaker":"Nischal Shetty","startTime":232.15,"endTime":235.15,"body":"t. But that still takes time."},{"speaker":"Nischal Shetty","startTime":232.15,"endTime":235.15,"body":"o the fastest and the best is"},{"speaker":"Nischal Shetty","startTime":235.15,"endTime":238.93,"body":"stay at home and, you know, pre"},{"speaker":"Nischal Shetty","startTime":235.15,"endTime":238.93,"body":"ent the infection from growing"},{"speaker":"Nischal Shetty","startTime":238.93,"endTime":242.29,"body":"o other people. I think that is"},{"speaker":"Nischal Shetty","startTime":238.93,"endTime":242.29,"body":"being done right now, which i"},{"speaker":"Nischal Shetty","startTime":242.29,"endTime":244.6,"body":"a good thing. Very well said."},{"speaker":"Matt Zahab","startTime":245.32,"endTime":248.2,"body":"I know the crypto"},{"speaker":"Matt Zahab","startTime":245.32,"endTime":248.2,"body":"community has definitely stepped"},{"speaker":"Matt Zahab","startTime":248.2,"endTime":252.4,"body":"up to the plate and has really"},{"speaker":"Matt Zahab","startTime":248.2,"endTime":252.4,"body":"helped. A couple days ago one of"},{"speaker":"Matt Zahab","startTime":252.4,"endTime":255.67,"body":"the biggest and most famous"},{"speaker":"Matt Zahab","startTime":252.4,"endTime":255.67,"body":"Indian tech founders Sandeep"},{"speaker":"Matt Zahab","startTime":255.7,"endTime":260.29,"body":"Nailwal, he is the founder of"},{"speaker":"Matt Zahab","startTime":255.7,"endTime":260.29,"body":"the Ethereum scaling platform,"},{"speaker":"Matt Zahab","startTime":260.32,"endTime":265.18,"body":"Polygon. And he set up a fund to"},{"speaker":"Matt Zahab","startTime":260.32,"endTime":265.18,"body":"help with the crisis. And I"},{"speaker":"Matt Zahab","startTime":265.18,"endTime":268.96,"body":"believe two days later or a day"},{"speaker":"Matt Zahab","startTime":265.18,"endTime":268.96,"body":"later, two big dogs and Vitalik"},{"speaker":"Matt Zahab","startTime":268.99,"endTime":273.79,"body":"and Balaji publicly announced"},{"speaker":"Matt Zahab","startTime":268.99,"endTime":273.79,"body":"their donations as well. Vitalik"},{"speaker":"Matt Zahab","startTime":273.82,"endTime":279.34,"body":"I believe, donated 100 Etherieum"},{"speaker":"Matt Zahab","startTime":273.82,"endTime":279.34,"body":"and 100 maker worth about"},{"speaker":"Matt Zahab","startTime":279.34,"endTime":284.89,"body":"$600,000 USD and Balaji donate"},{"speaker":"Matt Zahab","startTime":279.34,"endTime":284.89,"body":"100 grand as well. This has bee"},{"speaker":"Matt Zahab","startTime":284.89,"endTime":287.65,"body":"incredible. Love seeing th"},{"speaker":"Matt Zahab","startTime":284.89,"endTime":287.65,"body":"crypto community step up to th"},{"speaker":"Matt Zahab","startTime":287.65,"endTime":291.43,"body":"plate and really contribute. An"},{"speaker":"Matt Zahab","startTime":287.65,"endTime":291.43,"body":"I know WazirX has also done a"},{"speaker":"Matt Zahab","startTime":291.43,"endTime":295.45,"body":"incredible job as well. You an"},{"speaker":"Matt Zahab","startTime":291.43,"endTime":295.45,"body":"the team launched a donatio"},{"speaker":"Matt Zahab","startTime":295.45,"endTime":302.08,"body":"platform on the website and yo"},{"speaker":"Matt Zahab","startTime":295.45,"endTime":302.08,"body":"guys are sending these funds t"},{"speaker":"Matt Zahab","startTime":303.01,"endTime":307.15,"body":"NGOs around the country tha"},{"speaker":"Matt Zahab","startTime":303.01,"endTime":307.15,"body":"will supply oxygen cylinders"},{"speaker":"Matt Zahab","startTime":307.15,"endTime":310.75,"body":"medical equipment, feeding th"},{"speaker":"Matt Zahab","startTime":307.15,"endTime":310.75,"body":"underprivileged and providin"},{"speaker":"Matt Zahab","startTime":310.75,"endTime":313.03,"body":"medical assistance. I'd love i"},{"speaker":"Matt Zahab","startTime":310.75,"endTime":313.03,"body":"you could tell me a little bi"},{"speaker":"Matt Zahab","startTime":313.03,"endTime":315.04,"body":"more about this program that yo"},{"speaker":"Matt Zahab","startTime":313.03,"endTime":315.04,"body":"guys have set up"},{"speaker":"Nischal Shetty","startTime":315.0,"endTime":319.59,"body":"Sure. I think,"},{"speaker":"Nischal Shetty","startTime":315.0,"endTime":319.59,"body":"first and foremost, what Sandeep"},{"speaker":"Nischal Shetty","startTime":319.62,"endTime":323.22,"body":"did with the whole campaign, I"},{"speaker":"Nischal Shetty","startTime":319.62,"endTime":323.22,"body":"think that's very commendable,"},{"speaker":"Nischal Shetty","startTime":323.55,"endTime":329.1,"body":"because it's sort of channelized"},{"speaker":"Nischal Shetty","startTime":323.55,"endTime":329.1,"body":"people from across the world,"},{"speaker":"Nischal Shetty","startTime":329.31,"endTime":331.74,"body":"and I think that's very"},{"speaker":"Nischal Shetty","startTime":329.31,"endTime":331.74,"body":"significant. And the fact that"},{"speaker":"Nischal Shetty","startTime":331.89,"endTime":335.07,"body":"it's happening on crypto has"},{"speaker":"Nischal Shetty","startTime":331.89,"endTime":335.07,"body":"made it really easy for people"},{"speaker":"Nischal Shetty","startTime":335.1,"endTime":338.07,"body":"anywhere in the world to donate,"},{"speaker":"Nischal Shetty","startTime":335.1,"endTime":338.07,"body":"compared to like, say, if it was"},{"speaker":"Nischal Shetty","startTime":338.07,"endTime":342.3,"body":"a traditional Fiat route, I"},{"speaker":"Nischal Shetty","startTime":338.07,"endTime":342.3,"body":"doubt we would have seen that"},{"speaker":"Nischal Shetty","startTime":342.3,"endTime":346.59,"body":"kind of participation. So that's"},{"speaker":"Nischal Shetty","startTime":342.3,"endTime":346.59,"body":"something I think, I truly"},{"speaker":"Nischal Shetty","startTime":346.59,"endTime":352.5,"body":"appreciate. And what we've done"},{"speaker":"Nischal Shetty","startTime":346.59,"endTime":352.5,"body":"at WazirX, we've committed to"},{"speaker":"Nischal Shetty","startTime":352.5,"endTime":357.06,"body":"donating $1.1 million,"},{"speaker":"Nischal Shetty","startTime":352.5,"endTime":357.06,"body":"approximately, to various"},{"speaker":"Nischal Shetty","startTime":357.09,"endTime":360.96,"body":"causes. Now, we had two options,"},{"speaker":"Nischal Shetty","startTime":357.09,"endTime":360.96,"body":"we could have, you know, used"},{"speaker":"Nischal Shetty","startTime":360.96,"endTime":363.81,"body":"that money to buy the supplies"},{"speaker":"Nischal Shetty","startTime":360.96,"endTime":363.81,"body":"and all the necessary items"},{"speaker":"Nischal Shetty","startTime":363.87,"endTime":367.95,"body":"ourselves and then directly"},{"speaker":"Nischal Shetty","startTime":363.87,"endTime":367.95,"body":"reach the people. But we realize"},{"speaker":"Nischal Shetty","startTime":367.95,"endTime":371.31,"body":"the situation is that we cannot"},{"speaker":"Nischal Shetty","startTime":367.95,"endTime":371.31,"body":"spend time figuring out"},{"speaker":"Nischal Shetty","startTime":371.31,"endTime":375.9,"body":"execution, which is why we"},{"speaker":"Nischal Shetty","startTime":371.31,"endTime":375.9,"body":"decided let's shortlist some of"},{"speaker":"Nischal Shetty","startTime":375.9,"endTime":380.34,"body":"the existing NGOs and other"},{"speaker":"Nischal Shetty","startTime":375.9,"endTime":380.34,"body":"initiatives that are already"},{"speaker":"Nischal Shetty","startTime":380.4,"endTime":384.9,"body":"operational, and just redirect"},{"speaker":"Nischal Shetty","startTime":380.4,"endTime":384.9,"body":"the funds to them. So we've sort"},{"speaker":"Nischal Shetty","startTime":384.9,"endTime":389.4,"body":"of selected about, I think,"},{"speaker":"Nischal Shetty","startTime":384.9,"endTime":389.4,"body":"eight to 10 such initiatives."},{"speaker":"Nischal Shetty","startTime":389.67,"endTime":392.28,"body":"And probably in the next few"},{"speaker":"Nischal Shetty","startTime":389.67,"endTime":392.28,"body":"days, we're going to announce"},{"speaker":"Nischal Shetty","startTime":392.28,"endTime":396.3,"body":"all of them. And the objective"},{"speaker":"Nischal Shetty","startTime":392.28,"endTime":396.3,"body":"is to also, in the true ethos of"},{"speaker":"Nischal Shetty","startTime":396.3,"endTime":399.96,"body":"how the whole crypto ecosystem"},{"speaker":"Nischal Shetty","startTime":396.3,"endTime":399.96,"body":"works and be very open about it."},{"speaker":"Nischal Shetty","startTime":400.17,"endTime":403.23,"body":"So we're going to publicly name"},{"speaker":"Nischal Shetty","startTime":400.17,"endTime":403.23,"body":"all the initiatives we are going"},{"speaker":"Nischal Shetty","startTime":403.23,"endTime":406.95,"body":"to donate to with the amount"},{"speaker":"Nischal Shetty","startTime":403.23,"endTime":406.95,"body":"that we will donate, and the"},{"speaker":"Nischal Shetty","startTime":406.95,"endTime":410.19,"body":"objective with this, I think the"},{"speaker":"Nischal Shetty","startTime":406.95,"endTime":410.19,"body":"good thing that will happen is"},{"speaker":"Nischal Shetty","startTime":410.19,"endTime":412.47,"body":"it will also motivate other"},{"speaker":"Nischal Shetty","startTime":410.19,"endTime":412.47,"body":"people, whoever is looking to"},{"speaker":"Nischal Shetty","startTime":412.47,"endTime":416.1,"body":"help to directly contribute to"},{"speaker":"Nischal Shetty","startTime":412.47,"endTime":416.1,"body":"these different NGOs that we'll"},{"speaker":"Nischal Shetty","startTime":416.1,"endTime":420.48,"body":"list. So that's what we are"},{"speaker":"Nischal Shetty","startTime":416.1,"endTime":420.48,"body":"doing. And in parallel, we have"},{"speaker":"Nischal Shetty","startTime":420.51,"endTime":423.81,"body":"also got a lot of feedback from"},{"speaker":"Nischal Shetty","startTime":420.51,"endTime":423.81,"body":"our customers that they want to"},{"speaker":"Nischal Shetty","startTime":423.81,"endTime":427.56,"body":"donate their crypto to the"},{"speaker":"Nischal Shetty","startTime":423.81,"endTime":427.56,"body":"cause. So we've also launched"},{"speaker":"Nischal Shetty","startTime":427.56,"endTime":430.56,"body":"our crypto page. We just"},{"speaker":"Nischal Shetty","startTime":427.56,"endTime":430.56,"body":"announced it, where if you want"},{"speaker":"Nischal Shetty","startTime":430.56,"endTime":433.41,"body":"to donate... but we are"},{"speaker":"Nischal Shetty","startTime":430.56,"endTime":433.41,"body":"restricting it only to our"},{"speaker":"Nischal Shetty","startTime":433.41,"endTime":436.8,"body":"customers or, you know, KYC"},{"speaker":"Nischal Shetty","startTime":433.41,"endTime":436.8,"body":"users, because there are some"},{"speaker":"Nischal Shetty","startTime":436.8,"endTime":439.56,"body":"regulatory hurdles in India to"},{"speaker":"Nischal Shetty","startTime":436.8,"endTime":439.56,"body":"receiving international"},{"speaker":"Nischal Shetty","startTime":439.56,"endTime":442.62,"body":"donations. And again, we don't"},{"speaker":"Nischal Shetty","startTime":439.56,"endTime":442.62,"body":"want to spend time, though,"},{"speaker":"Nischal Shetty","startTime":442.62,"endTime":445.74,"body":"Sandeep is figuring that out"},{"speaker":"Nischal Shetty","startTime":442.62,"endTime":445.74,"body":"from his campaign. So I think if"},{"speaker":"Nischal Shetty","startTime":445.74,"endTime":448.5,"body":"you're an international user"},{"speaker":"Nischal Shetty","startTime":445.74,"endTime":448.5,"body":"donating to Sandeep's campaign"},{"speaker":"Nischal Shetty","startTime":448.5,"endTime":451.2,"body":"is probably better because he's"},{"speaker":"Nischal Shetty","startTime":448.5,"endTime":451.2,"body":"handling the whole, how do you"},{"speaker":"Nischal Shetty","startTime":451.23,"endTime":454.41,"body":"get the money into the country"},{"speaker":"Nischal Shetty","startTime":451.23,"endTime":454.41,"body":"in the right way? And for us, we"},{"speaker":"Nischal Shetty","startTime":454.41,"endTime":457.95,"body":"are looking at it more from a"},{"speaker":"Nischal Shetty","startTime":454.41,"endTime":457.95,"body":"local-national level. How do we"},{"speaker":"Nischal Shetty","startTime":457.95,"endTime":461.79,"body":"channelize our existing user"},{"speaker":"Nischal Shetty","startTime":457.95,"endTime":461.79,"body":"base? And how do we funnel our"},{"speaker":"Nischal Shetty","startTime":461.82,"endTime":463.59,"body":"donation to the right causes out"},{"speaker":"Nischal Shetty","startTime":461.82,"endTime":463.59,"body":"here."},{"speaker":"Matt Zahab","startTime":463.92,"endTime":466.68,"body":"That's incredible."},{"speaker":"Matt Zahab","startTime":463.92,"endTime":466.68,"body":"Hats off to you guys. That's"},{"speaker":"Matt Zahab","startTime":467.01,"endTime":472.77,"body":"just doing an amazing job. And"},{"speaker":"Matt Zahab","startTime":467.01,"endTime":472.77,"body":"hats off to Sandeep as well. For"},{"speaker":"Matt Zahab","startTime":472.8,"endTime":475.62,"body":"a nice little starting point to"},{"speaker":"Matt Zahab","startTime":472.8,"endTime":475.62,"body":"get into the history of was"},{"speaker":"Matt Zahab","startTime":475.62,"endTime":478.68,"body":"WazirX and what exactly is"},{"speaker":"Matt Zahab","startTime":475.62,"endTime":478.68,"body":"WazirX and how you've turned"},{"speaker":"Matt Zahab","startTime":479.1,"endTime":482.22,"body":"your company into such a"},{"speaker":"Matt Zahab","startTime":479.1,"endTime":482.22,"body":"behemoth? Let's go back to March"},{"speaker":"Matt Zahab","startTime":482.22,"endTime":486.96,"body":"of 2018, and three weeks after"},{"speaker":"Matt Zahab","startTime":482.22,"endTime":486.96,"body":"you guys launched in March of"},{"speaker":"Matt Zahab","startTime":486.96,"endTime":492.36,"body":"2018, the Indian central bank"},{"speaker":"Matt Zahab","startTime":486.96,"endTime":492.36,"body":"released an imposed rather, a"},{"speaker":"Matt Zahab","startTime":492.36,"endTime":496.32,"body":"blanket ban on virtual coins in"},{"speaker":"Matt Zahab","startTime":492.36,"endTime":496.32,"body":"the country and that created an"},{"speaker":"Matt Zahab","startTime":496.32,"endTime":501.06,"body":"absolute shitshow. However, you"},{"speaker":"Matt Zahab","startTime":496.32,"endTime":501.06,"body":"in the team found a way to bash"},{"speaker":"Matt Zahab","startTime":501.06,"endTime":503.94,"body":"through that and have now"},{"speaker":"Matt Zahab","startTime":501.06,"endTime":503.94,"body":"created an absolute behemoth."},{"speaker":"Matt Zahab","startTime":503.97,"endTime":505.38,"body":"I'd love if you could tell me"},{"speaker":"Matt Zahab","startTime":503.97,"endTime":505.38,"body":"that story."},{"speaker":"Nischal Shetty","startTime":505.99,"endTime":509.08,"body":"Sure. And it is"},{"speaker":"Nischal Shetty","startTime":505.99,"endTime":509.08,"body":"indeed funny because, you know,"},{"speaker":"Nischal Shetty","startTime":509.08,"endTime":512.95,"body":"it was us. We were all excited,"},{"speaker":"Nischal Shetty","startTime":509.08,"endTime":512.95,"body":"we spent about I think 45 days"},{"speaker":"Nischal Shetty","startTime":512.95,"endTime":517.09,"body":"to build the first version. And"},{"speaker":"Nischal Shetty","startTime":512.95,"endTime":517.09,"body":"we launched it on the eighth of"},{"speaker":"Nischal Shetty","startTime":517.09,"endTime":521.08,"body":"March 2018. And within three"},{"speaker":"Nischal Shetty","startTime":517.09,"endTime":521.08,"body":"weeks, we got this whole"},{"speaker":"Nischal Shetty","startTime":521.38,"endTime":525.4,"body":"announcement by our central bank"},{"speaker":"Nischal Shetty","startTime":521.38,"endTime":525.4,"body":"that crypto exchanges in India"},{"speaker":"Nischal Shetty","startTime":525.4,"endTime":528.7,"body":"or any crypto related businesses"},{"speaker":"Nischal Shetty","startTime":525.4,"endTime":528.7,"body":"in India cannot have a bank"},{"speaker":"Nischal Shetty","startTime":528.7,"endTime":532.45,"body":"account. And none of the banks"},{"speaker":"Nischal Shetty","startTime":528.7,"endTime":532.45,"body":"can provide them with banking"},{"speaker":"Nischal Shetty","startTime":532.45,"endTime":535.93,"body":"services. And what essentially"},{"speaker":"Nischal Shetty","startTime":532.45,"endTime":535.93,"body":"that did was cut you off from"},{"speaker":"Nischal Shetty","startTime":535.93,"endTime":542.02,"body":"the Fiat ecosystem. And as being"},{"speaker":"Nischal Shetty","startTime":535.93,"endTime":542.02,"body":"an on-ramp where you bring in"},{"speaker":"Nischal Shetty","startTime":542.02,"endTime":546.79,"body":"your fiat currency and you buy"},{"speaker":"Nischal Shetty","startTime":542.02,"endTime":546.79,"body":"crypto, that technically meant"},{"speaker":"Nischal Shetty","startTime":547.15,"endTime":552.16,"body":"the death sentence. But because"},{"speaker":"Nischal Shetty","startTime":547.15,"endTime":552.16,"body":"we had just launched and I keep"},{"speaker":"Nischal Shetty","startTime":552.19,"endTime":555.55,"body":"telling everyone that maybe that"},{"speaker":"Nischal Shetty","startTime":552.19,"endTime":555.55,"body":"was good timing in a way,"},{"speaker":"Nischal Shetty","startTime":555.76,"endTime":559.27,"body":"because we were at ground zero,"},{"speaker":"Nischal Shetty","startTime":555.76,"endTime":559.27,"body":"we had nothing to lose. We were"},{"speaker":"Nischal Shetty","startTime":559.27,"endTime":564.16,"body":"a new exchange just launched, so"},{"speaker":"Nischal Shetty","startTime":559.27,"endTime":564.16,"body":"what we did is, we tried to"},{"speaker":"Nischal Shetty","startTime":564.52,"endTime":567.4,"body":"understand what's the"},{"speaker":"Nischal Shetty","startTime":564.52,"endTime":567.4,"body":"alternative to this? You don't"},{"speaker":"Nischal Shetty","startTime":567.4,"endTime":570.79,"body":"have a bank account? How do you"},{"speaker":"Nischal Shetty","startTime":567.4,"endTime":570.79,"body":"continue to provide the same"},{"speaker":"Nischal Shetty","startTime":570.82,"endTime":576.88,"body":"on-ramp experience to people and"},{"speaker":"Nischal Shetty","startTime":570.82,"endTime":576.88,"body":"the option in front of us was to"},{"speaker":"Nischal Shetty","startTime":576.91,"endTime":579.91,"body":"launch a peer-to-peer way for"},{"speaker":"Nischal Shetty","startTime":576.91,"endTime":579.91,"body":"people to buy and sell"},{"speaker":"Nischal Shetty","startTime":579.91,"endTime":584.56,"body":"cryptocurrencies, with Fiat. Now"},{"speaker":"Nischal Shetty","startTime":579.91,"endTime":584.56,"body":"what that meant was, we would"},{"speaker":"Nischal Shetty","startTime":584.56,"endTime":588.25,"body":"just custody the crypto because"},{"speaker":"Nischal Shetty","startTime":584.56,"endTime":588.25,"body":"we did not have access to Fiat."},{"speaker":"Nischal Shetty","startTime":588.7,"endTime":593.74,"body":"And we would ask you as a buyer"},{"speaker":"Nischal Shetty","startTime":588.7,"endTime":593.74,"body":"to directly send the money in"},{"speaker":"Nischal Shetty","startTime":593.74,"endTime":597.82,"body":"the fiat currency to the sellers"},{"speaker":"Nischal Shetty","startTime":593.74,"endTime":597.82,"body":"bank account. And this created a"},{"speaker":"Nischal Shetty","startTime":597.82,"endTime":602.86,"body":"beautiful system where we could"},{"speaker":"Nischal Shetty","startTime":597.82,"endTime":602.86,"body":"ensure that in India, people"},{"speaker":"Nischal Shetty","startTime":602.86,"endTime":606.49,"body":"still participated in crypto,"},{"speaker":"Nischal Shetty","startTime":602.86,"endTime":606.49,"body":"despite the banking"},{"speaker":"Nischal Shetty","startTime":606.49,"endTime":611.35,"body":"restrictions, and the community"},{"speaker":"Nischal Shetty","startTime":606.49,"endTime":611.35,"body":"in India found this as, and we"},{"speaker":"Nischal Shetty","startTime":611.35,"endTime":613.99,"body":"were the innovator, we were the"},{"speaker":"Nischal Shetty","startTime":611.35,"endTime":613.99,"body":"first ones to launch. So the"},{"speaker":"Nischal Shetty","startTime":613.99,"endTime":617.47,"body":"community found this as the best"},{"speaker":"Nischal Shetty","startTime":613.99,"endTime":617.47,"body":"way to still be involved in"},{"speaker":"Nischal Shetty","startTime":617.47,"endTime":620.47,"body":"crypto. And that's how it gave"},{"speaker":"Nischal Shetty","startTime":617.47,"endTime":620.47,"body":"us that initial boost, I would"},{"speaker":"Nischal Shetty","startTime":620.47,"endTime":626.17,"body":"say, in gaining attention of the"},{"speaker":"Nischal Shetty","startTime":620.47,"endTime":626.17,"body":"community, and to be seen as"},{"speaker":"Nischal Shetty","startTime":626.17,"endTime":629.68,"body":"that platform, which still"},{"speaker":"Nischal Shetty","startTime":626.17,"endTime":629.68,"body":"allowed you and helped you"},{"speaker":"Nischal Shetty","startTime":630.52,"endTime":634.03,"body":"participate in crypto. So yeah,"},{"speaker":"Nischal Shetty","startTime":630.52,"endTime":634.03,"body":"and by the way, during this"},{"speaker":"Nischal Shetty","startTime":634.03,"endTime":637.18,"body":"time, I don't know if you"},{"speaker":"Nischal Shetty","startTime":634.03,"endTime":637.18,"body":"remember, but the bear market"},{"speaker":"Nischal Shetty","startTime":637.18,"endTime":640.99,"body":"had just started. So you know,"},{"speaker":"Nischal Shetty","startTime":637.18,"endTime":640.99,"body":"it was two things. Because,"},{"speaker":"Nischal Shetty","startTime":641.65,"endTime":644.56,"body":"ideally, if you see in a bull"},{"speaker":"Nischal Shetty","startTime":641.65,"endTime":644.56,"body":"market, it doesn't matter what"},{"speaker":"Nischal Shetty","startTime":644.56,"endTime":647.47,"body":"you do, you give the most"},{"speaker":"Nischal Shetty","startTime":644.56,"endTime":647.47,"body":"difficult way for people to get"},{"speaker":"Nischal Shetty","startTime":647.47,"endTime":650.89,"body":"onboarded, they will come. But"},{"speaker":"Nischal Shetty","startTime":647.47,"endTime":650.89,"body":"in a bear market to find in a"},{"speaker":"Nischal Shetty","startTime":650.89,"endTime":654.13,"body":"bear market, you have to really,"},{"speaker":"Nischal Shetty","startTime":650.89,"endTime":654.13,"body":"really make things easy for"},{"speaker":"Nischal Shetty","startTime":654.13,"endTime":657.7,"body":"people to onboard. So this was"},{"speaker":"Nischal Shetty","startTime":654.13,"endTime":657.7,"body":"like a double challenge. You"},{"speaker":"Nischal Shetty","startTime":657.7,"endTime":661.06,"body":"know, you have a bear market,"},{"speaker":"Nischal Shetty","startTime":657.7,"endTime":661.06,"body":"you have a banking restriction,"},{"speaker":"Nischal Shetty","startTime":661.09,"endTime":663.91,"body":"how do you still get involved in"},{"speaker":"Nischal Shetty","startTime":661.09,"endTime":663.91,"body":"crypto? And how do you still"},{"speaker":"Nischal Shetty","startTime":664.21,"endTime":667.48,"body":"provide the right services for"},{"speaker":"Nischal Shetty","startTime":664.21,"endTime":667.48,"body":"people in your country who want"},{"speaker":"Nischal Shetty","startTime":667.48,"endTime":670.81,"body":"to be involved in this? A good"},{"speaker":"Nischal Shetty","startTime":667.48,"endTime":670.81,"body":"learning experience and I would"},{"speaker":"Nischal Shetty","startTime":670.81,"endTime":675.88,"body":"say it's a very important thing,"},{"speaker":"Nischal Shetty","startTime":670.81,"endTime":675.88,"body":"because after that, we've seen"},{"speaker":"Nischal Shetty","startTime":675.88,"endTime":678.61,"body":"and heard of these central"},{"speaker":"Nischal Shetty","startTime":675.88,"endTime":678.61,"body":"banks, in different countries"},{"speaker":"Nischal Shetty","startTime":678.61,"endTime":682.06,"body":"causing issues and trouble. And"},{"speaker":"Nischal Shetty","startTime":678.61,"endTime":682.06,"body":"I would always suggest that"},{"speaker":"Nischal Shetty","startTime":682.33,"endTime":685.21,"body":"there's a lot of lessons to"},{"speaker":"Nischal Shetty","startTime":682.33,"endTime":685.21,"body":"learn from our experience for"},{"speaker":"Nischal Shetty","startTime":685.21,"endTime":689.23,"body":"other geographies, because I"},{"speaker":"Nischal Shetty","startTime":685.21,"endTime":689.23,"body":"think we've recently heard about"},{"speaker":"Nischal Shetty","startTime":689.23,"endTime":692.56,"body":"in Nigeria, where there was a"},{"speaker":"Nischal Shetty","startTime":689.23,"endTime":692.56,"body":"banking restriction. So a peer"},{"speaker":"Nischal Shetty","startTime":692.56,"endTime":697.69,"body":"to peer way of continuing is the"},{"speaker":"Nischal Shetty","startTime":692.56,"endTime":697.69,"body":"right way. Never give up. Just"},{"speaker":"Nischal Shetty","startTime":697.69,"endTime":700.75,"body":"because you don't have banking"},{"speaker":"Nischal Shetty","startTime":697.69,"endTime":700.75,"body":"access does not mean you cannot"},{"speaker":"Nischal Shetty","startTime":700.75,"endTime":705.13,"body":"help people to get into crypto."},{"speaker":"Nischal Shetty","startTime":700.75,"endTime":705.13,"body":"And I think peer to peer really"},{"speaker":"Nischal Shetty","startTime":705.13,"endTime":706.39,"body":"works well in that aspect."},{"speaker":"Matt Zahab","startTime":707.14,"endTime":711.13,"body":"Tell me more about"},{"speaker":"Matt Zahab","startTime":707.14,"endTime":711.13,"body":"WazirX present day. Well,"},{"speaker":"Matt Zahab","startTime":711.13,"endTime":713.77,"body":"firstly, I should be"},{"speaker":"Matt Zahab","startTime":711.13,"endTime":713.77,"body":"congratulating you guys on the"},{"speaker":"Matt Zahab","startTime":713.77,"endTime":716.68,"body":"by Binance acquisition. That's"},{"speaker":"Matt Zahab","startTime":713.77,"endTime":716.68,"body":"absolutely incredible. Let's"},{"speaker":"Matt Zahab","startTime":716.68,"endTime":718.54,"body":"start with CZ. Have you ever met"},{"speaker":"Matt Zahab","startTime":716.68,"endTime":718.54,"body":"CZ?"},{"speaker":"Nischal Shetty","startTime":718.87,"endTime":723.13,"body":"Yeah, of course,"},{"speaker":"Nischal Shetty","startTime":718.87,"endTime":723.13,"body":"I've met him a few times. And I"},{"speaker":"Nischal Shetty","startTime":723.13,"endTime":728.08,"body":"think the first time I met him"},{"speaker":"Nischal Shetty","startTime":723.13,"endTime":728.08,"body":"was before the acquisition. And"},{"speaker":"Nischal Shetty","startTime":729.37,"endTime":733.72,"body":"after the acquisition, I met him"},{"speaker":"Nischal Shetty","startTime":729.37,"endTime":733.72,"body":"a few times. I think if you meet"},{"speaker":"Nischal Shetty","startTime":733.72,"endTime":738.01,"body":"CZ, it's not very different. If"},{"speaker":"Nischal Shetty","startTime":733.72,"endTime":738.01,"body":"you've interacted with him on"},{"speaker":"Nischal Shetty","startTime":738.01,"endTime":741.49,"body":"Twitter, or if you've seen his"},{"speaker":"Nischal Shetty","startTime":738.01,"endTime":741.49,"body":"replies, he is exactly that way."},{"speaker":"Nischal Shetty","startTime":741.67,"endTime":748.75,"body":"So you know, he's an open book"},{"speaker":"Nischal Shetty","startTime":741.67,"endTime":748.75,"body":"and that's a good thing. So I"},{"speaker":"Nischal Shetty","startTime":748.75,"endTime":751.39,"body":"think the thing that was"},{"speaker":"Nischal Shetty","startTime":748.75,"endTime":751.39,"body":"motivating for me also to take"},{"speaker":"Nischal Shetty","startTime":751.39,"endTime":754.9,"body":"that decision to go with"},{"speaker":"Nischal Shetty","startTime":751.39,"endTime":754.9,"body":"Binance. Because externally, of"},{"speaker":"Nischal Shetty","startTime":754.9,"endTime":758.32,"body":"course, we all know, Binance is"},{"speaker":"Nischal Shetty","startTime":754.9,"endTime":758.32,"body":"a good product and it's, you"},{"speaker":"Nischal Shetty","startTime":758.32,"endTime":761.77,"body":"know, one of the leading"},{"speaker":"Nischal Shetty","startTime":758.32,"endTime":761.77,"body":"exchanges, the innovators, and"},{"speaker":"Nischal Shetty","startTime":761.77,"endTime":765.76,"body":"rapid building. But when you"},{"speaker":"Nischal Shetty","startTime":761.77,"endTime":765.76,"body":"meet him, you realize that it"},{"speaker":"Nischal Shetty","startTime":765.76,"endTime":769.15,"body":"all comes from the whole mission"},{"speaker":"Nischal Shetty","startTime":765.76,"endTime":769.15,"body":"that they want to make crypto"},{"speaker":"Nischal Shetty","startTime":769.15,"endTime":773.5,"body":"accessible to everyone. So that"},{"speaker":"Nischal Shetty","startTime":769.15,"endTime":773.5,"body":"was our mission. Our mission is"},{"speaker":"Nischal Shetty","startTime":773.5,"endTime":777.31,"body":"to make crypto accessible to"},{"speaker":"Nischal Shetty","startTime":773.5,"endTime":777.31,"body":"everyone in India. And when we"},{"speaker":"Nischal Shetty","startTime":777.88,"endTime":781.27,"body":"started talking, I realized that"},{"speaker":"Nischal Shetty","startTime":777.88,"endTime":781.27,"body":"mission alignment was very"},{"speaker":"Nischal Shetty","startTime":781.27,"endTime":784.63,"body":"important. When when missions"},{"speaker":"Nischal Shetty","startTime":781.27,"endTime":784.63,"body":"align, you really don't have to"},{"speaker":"Nischal Shetty","startTime":784.63,"endTime":787.27,"body":"worry about anything else,"},{"speaker":"Nischal Shetty","startTime":784.63,"endTime":787.27,"body":"because then you're all thinking"},{"speaker":"Nischal Shetty","startTime":787.27,"endTime":790.57,"body":"in the right direction  because"},{"speaker":"Nischal Shetty","startTime":787.27,"endTime":790.57,"body":"in an acquisition, some of the"},{"speaker":"Nischal Shetty","startTime":790.57,"endTime":793.39,"body":"things that can go wrong usually"},{"speaker":"Nischal Shetty","startTime":790.57,"endTime":793.39,"body":"are when teams want different"},{"speaker":"Nischal Shetty","startTime":793.39,"endTime":797.62,"body":"things. And I know a lot of"},{"speaker":"Nischal Shetty","startTime":793.39,"endTime":797.62,"body":"people think about features and"},{"speaker":"Nischal Shetty","startTime":797.62,"endTime":800.71,"body":"marketing ideas, but I think"},{"speaker":"Nischal Shetty","startTime":797.62,"endTime":800.71,"body":"mission alignment is like the"},{"speaker":"Nischal Shetty","startTime":800.71,"endTime":804.76,"body":"most important thing when you"},{"speaker":"Nischal Shetty","startTime":800.71,"endTime":804.76,"body":"get into a partnership. And that"},{"speaker":"Nischal Shetty","startTime":804.76,"endTime":809.5,"body":"showed me that this would be a"},{"speaker":"Nischal Shetty","startTime":804.76,"endTime":809.5,"body":"good journey together and it's"},{"speaker":"Nischal Shetty","startTime":809.5,"endTime":812.53,"body":"turned out well. Apart from"},{"speaker":"Nischal Shetty","startTime":809.5,"endTime":812.53,"body":"mission alignment, I think what"},{"speaker":"Nischal Shetty","startTime":812.53,"endTime":817.69,"body":"I was most excited about with"},{"speaker":"Nischal Shetty","startTime":812.53,"endTime":817.69,"body":"Binance was to learn how do you"},{"speaker":"Nischal Shetty","startTime":817.69,"endTime":822.85,"body":"really know scale that quickly?"},{"speaker":"Nischal Shetty","startTime":817.69,"endTime":822.85,"body":"And despite the scale, how do"},{"speaker":"Nischal Shetty","startTime":822.85,"endTime":827.56,"body":"you continue to be delivering"},{"speaker":"Nischal Shetty","startTime":822.85,"endTime":827.56,"body":"products that quickly? Because"},{"speaker":"Nischal Shetty","startTime":827.56,"endTime":830.71,"body":"if you look at the way Binance"},{"speaker":"Nischal Shetty","startTime":827.56,"endTime":830.71,"body":"delivers, it's similar to"},{"speaker":"Nischal Shetty","startTime":830.71,"endTime":835.36,"body":"probably 10-20% small startup"},{"speaker":"Nischal Shetty","startTime":830.71,"endTime":835.36,"body":"doing it. Because we've always"},{"speaker":"Nischal Shetty","startTime":835.36,"endTime":838.15,"body":"heard about startups being"},{"speaker":"Nischal Shetty","startTime":835.36,"endTime":838.15,"body":"quick, and large companies being"},{"speaker":"Nischal Shetty","startTime":838.15,"endTime":841.93,"body":"small, slow, out here Binance"},{"speaker":"Nischal Shetty","startTime":838.15,"endTime":841.93,"body":"has completely turned it upside"},{"speaker":"Nischal Shetty","startTime":841.93,"endTime":844.75,"body":"down. Despite being a large"},{"speaker":"Nischal Shetty","startTime":841.93,"endTime":844.75,"body":"organization, they still deliver"},{"speaker":"Nischal Shetty","startTime":844.75,"endTime":848.26,"body":"at a rapid pace. And I think I"},{"speaker":"Nischal Shetty","startTime":844.75,"endTime":848.26,"body":"wanted to learn that how do you"},{"speaker":"Nischal Shetty","startTime":848.26,"endTime":853.33,"body":"rapidly scale while ensuring"},{"speaker":"Nischal Shetty","startTime":848.26,"endTime":853.33,"body":"your speed of execution stays"},{"speaker":"Nischal Shetty","startTime":853.33,"endTime":856.81,"body":"intact? And I've been able to"},{"speaker":"Nischal Shetty","startTime":853.33,"endTime":856.81,"body":"watch that closely, you know,"},{"speaker":"Nischal Shetty","startTime":856.81,"endTime":860.17,"body":"you can just learn about it on a"},{"speaker":"Nischal Shetty","startTime":856.81,"endTime":860.17,"body":"blog post. Because if you want"},{"speaker":"Nischal Shetty","startTime":860.17,"endTime":863.5,"body":"to ask any one person, no one"},{"speaker":"Nischal Shetty","startTime":860.17,"endTime":863.5,"body":"will be able to tell you exactly"},{"speaker":"Nischal Shetty","startTime":863.5,"endTime":866.68,"body":"how this is done. But once you"},{"speaker":"Nischal Shetty","startTime":863.5,"endTime":866.68,"body":"get in, and once you experience"},{"speaker":"Nischal Shetty","startTime":866.68,"endTime":868.9,"body":"it, you have to be there and"},{"speaker":"Nischal Shetty","startTime":866.68,"endTime":868.9,"body":"experience how things are"},{"speaker":"Nischal Shetty","startTime":868.9,"endTime":871.3,"body":"moving, then you can learn it"},{"speaker":"Nischal Shetty","startTime":868.9,"endTime":871.3,"body":"and implement it, and I've done"},{"speaker":"Nischal Shetty","startTime":871.3,"endTime":874.9,"body":"the same thing at WazirX. So if"},{"speaker":"Nischal Shetty","startTime":871.3,"endTime":874.9,"body":"you see our last, I think 12"},{"speaker":"Nischal Shetty","startTime":874.9,"endTime":880.03,"body":"months or 18 months, we've grown"},{"speaker":"Nischal Shetty","startTime":874.9,"endTime":880.03,"body":"20x in terms of you know our"},{"speaker":"Nischal Shetty","startTime":880.03,"endTime":884.29,"body":"volumes, our signups,"},{"speaker":"Nischal Shetty","startTime":880.03,"endTime":884.29,"body":"everything, and I think a large"},{"speaker":"Nischal Shetty","startTime":884.29,"endTime":887.92,"body":"part of that is the learning"},{"speaker":"Nischal Shetty","startTime":884.29,"endTime":887.92,"body":"I've got from watching Binance"},{"speaker":"Nischal Shetty","startTime":887.98,"endTime":888.97,"body":"and how they broke."},{"speaker":"Matt Zahab","startTime":889.18,"endTime":891.58,"body":"Sorry, you said 20x"},{"speaker":"Matt Zahab","startTime":889.18,"endTime":891.58,"body":"you've grown in the last 12"},{"speaker":"Matt Zahab","startTime":891.58,"endTime":891.82,"body":"months?"},{"speaker":"Nischal Shetty","startTime":891.82,"endTime":892.18,"body":"Yeah."},{"speaker":"Matt Zahab","startTime":892.51,"endTime":893.05,"body":"Wow."},{"speaker":"Nischal Shetty","startTime":893.6,"endTime":895.19,"body":"Or more than"},{"speaker":"Nischal Shetty","startTime":893.6,"endTime":895.19,"body":"that. I'm just being"},{"speaker":"Nischal Shetty","startTime":895.19,"endTime":897.74,"body":"conservative, but I think we've"},{"speaker":"Nischal Shetty","startTime":895.19,"endTime":897.74,"body":"grown probably more than that."},{"speaker":"Matt Zahab","startTime":897.77,"endTime":901.79,"body":"Humble brag, I love"},{"speaker":"Matt Zahab","startTime":897.77,"endTime":901.79,"body":"it. And well, speaking of"},{"speaker":"Matt Zahab","startTime":901.79,"endTime":906.89,"body":"scaling and growing 20x, last"},{"speaker":"Matt Zahab","startTime":901.79,"endTime":906.89,"body":"month you and the team added 1"},{"speaker":"Matt Zahab","startTime":906.89,"endTime":909.8,"body":"million users to the platform."},{"speaker":"Matt Zahab","startTime":906.89,"endTime":909.8,"body":"Not even last month, we're still"},{"speaker":"Matt Zahab","startTime":909.8,"endTime":914.15,"body":"in April. This April of 2021,"},{"speaker":"Matt Zahab","startTime":909.8,"endTime":914.15,"body":"you've added 1 million users."},{"speaker":"Matt Zahab","startTime":914.15,"endTime":918.53,"body":"Now, in India, there are"},{"speaker":"Matt Zahab","startTime":914.15,"endTime":918.53,"body":"currently more than 11 million"},{"speaker":"Matt Zahab","startTime":918.53,"endTime":921.92,"body":"crypto users, there are half a"},{"speaker":"Matt Zahab","startTime":918.53,"endTime":921.92,"body":"million day traders, and more"},{"speaker":"Matt Zahab","startTime":921.92,"endTime":926.42,"body":"than 4000 people employed in the"},{"speaker":"Matt Zahab","startTime":921.92,"endTime":926.42,"body":"crypto industry. Tell me how was"},{"speaker":"Matt Zahab","startTime":926.42,"endTime":929.51,"body":"your x's really impacted that?"},{"speaker":"Matt Zahab","startTime":926.42,"endTime":929.51,"body":"And how are you guys going to"},{"speaker":"Matt Zahab","startTime":929.51,"endTime":931.97,"body":"keep up with this crazy demand"},{"speaker":"Matt Zahab","startTime":929.51,"endTime":931.97,"body":"that you're getting at the"},{"speaker":"Matt Zahab","startTime":931.97,"endTime":932.27,"body":"moment?"},{"speaker":"Nischal Shetty","startTime":932.6,"endTime":936.23,"body":"Sure. See, I"},{"speaker":"Nischal Shetty","startTime":932.6,"endTime":936.23,"body":"think in India, I think first we"},{"speaker":"Nischal Shetty","startTime":936.23,"endTime":941.51,"body":"have to understand what has led"},{"speaker":"Nischal Shetty","startTime":936.23,"endTime":941.51,"body":"to this whole rapid adoption of"},{"speaker":"Nischal Shetty","startTime":941.51,"endTime":945.8,"body":"crypto assets in the country."},{"speaker":"Nischal Shetty","startTime":941.51,"endTime":945.8,"body":"And it's a culmination of a lot"},{"speaker":"Nischal Shetty","startTime":945.8,"endTime":950.6,"body":"of things. Starting from the"},{"speaker":"Nischal Shetty","startTime":945.8,"endTime":950.6,"body":"last three years, what we've"},{"speaker":"Nischal Shetty","startTime":950.6,"endTime":955.34,"body":"been doing, as an exchange and"},{"speaker":"Nischal Shetty","startTime":950.6,"endTime":955.34,"body":"as an industry, is to ensure"},{"speaker":"Nischal Shetty","startTime":955.34,"endTime":958.97,"body":"that we spread the right"},{"speaker":"Nischal Shetty","startTime":955.34,"endTime":958.97,"body":"information and knowledge about"},{"speaker":"Nischal Shetty","startTime":958.97,"endTime":963.14,"body":"crypto, because in 2017, one of"},{"speaker":"Nischal Shetty","startTime":958.97,"endTime":963.14,"body":"the things we saw happened was a"},{"speaker":"Nischal Shetty","startTime":963.14,"endTime":967.31,"body":"lot of people jumped into it,"},{"speaker":"Nischal Shetty","startTime":963.14,"endTime":967.31,"body":"not understanding what crypto"},{"speaker":"Nischal Shetty","startTime":967.31,"endTime":971.18,"body":"was, with the only objective"},{"speaker":"Nischal Shetty","startTime":967.31,"endTime":971.18,"body":"that enterprises were doubling"},{"speaker":"Nischal Shetty","startTime":971.18,"endTime":975.29,"body":"every week. And then you saw"},{"speaker":"Nischal Shetty","startTime":971.18,"endTime":975.29,"body":"what happened. And in this in"},{"speaker":"Nischal Shetty","startTime":975.29,"endTime":977.84,"body":"between, there were a lot of"},{"speaker":"Nischal Shetty","startTime":975.29,"endTime":977.84,"body":"scams, because people took"},{"speaker":"Nischal Shetty","startTime":977.84,"endTime":980.45,"body":"advantage of this whole fact"},{"speaker":"Nischal Shetty","startTime":977.84,"endTime":980.45,"body":"that people wanted easy money."},{"speaker":"Nischal Shetty","startTime":980.93,"endTime":983.6,"body":"So the last three years, we've"},{"speaker":"Nischal Shetty","startTime":980.93,"endTime":983.6,"body":"been working really hard on"},{"speaker":"Nischal Shetty","startTime":983.6,"endTime":987.92,"body":"educating everyone on building a"},{"speaker":"Nischal Shetty","startTime":983.6,"endTime":987.92,"body":"community to make sure that"},{"speaker":"Nischal Shetty","startTime":987.92,"endTime":992.21,"body":"there are no scams or you know,"},{"speaker":"Nischal Shetty","startTime":987.92,"endTime":992.21,"body":"I would say bad actors in the"},{"speaker":"Nischal Shetty","startTime":992.21,"endTime":995.84,"body":"ecosystem. And it's worked out"},{"speaker":"Nischal Shetty","startTime":992.21,"endTime":995.84,"body":"really well. And the way we've"},{"speaker":"Nischal Shetty","startTime":995.84,"endTime":999.59,"body":"done that is, take my example."},{"speaker":"Nischal Shetty","startTime":995.84,"endTime":999.59,"body":"Me as a founder, I'm very, very"},{"speaker":"Nischal Shetty","startTime":999.59,"endTime":1004.06,"body":"communicative on Twitter. And"},{"speaker":"Nischal Shetty","startTime":999.59,"endTime":1004.06,"body":"we've also seen a lot of other"},{"speaker":"Nischal Shetty","startTime":1004.06,"endTime":1007.81,"body":"influencers in crypto in India"},{"speaker":"Nischal Shetty","startTime":1004.06,"endTime":1007.81,"body":"emerging in the last three"},{"speaker":"Nischal Shetty","startTime":1007.81,"endTime":1012.16,"body":"years. What the whole influencer"},{"speaker":"Nischal Shetty","startTime":1007.81,"endTime":1012.16,"body":"community does, is they make"},{"speaker":"Nischal Shetty","startTime":1012.16,"endTime":1016.6,"body":"sure they can help their"},{"speaker":"Nischal Shetty","startTime":1012.16,"endTime":1016.6,"body":"followers and fans to know what"},{"speaker":"Nischal Shetty","startTime":1016.6,"endTime":1018.61,"body":"are the good projects and what"},{"speaker":"Nischal Shetty","startTime":1016.6,"endTime":1018.61,"body":"are the ones that you should"},{"speaker":"Nischal Shetty","startTime":1018.61,"endTime":1022.63,"body":"stay away from. That did not"},{"speaker":"Nischal Shetty","startTime":1018.61,"endTime":1022.63,"body":"exist in 2017, which is why we"},{"speaker":"Nischal Shetty","startTime":1022.63,"endTime":1026.11,"body":"could hear about a lot of scams."},{"speaker":"Nischal Shetty","startTime":1022.63,"endTime":1026.11,"body":"But today, if there is any"},{"speaker":"Nischal Shetty","startTime":1026.11,"endTime":1030.25,"body":"shady, I would say product out"},{"speaker":"Nischal Shetty","startTime":1026.11,"endTime":1030.25,"body":"there, the influencers and you"},{"speaker":"Nischal Shetty","startTime":1030.25,"endTime":1034.72,"body":"know, everyone else, they make"},{"speaker":"Nischal Shetty","startTime":1030.25,"endTime":1034.72,"body":"people aware that you know, stay"},{"speaker":"Nischal Shetty","startTime":1034.72,"endTime":1037.81,"body":"away from projects like these."},{"speaker":"Nischal Shetty","startTime":1034.72,"endTime":1037.81,"body":"So that's helped a lot in"},{"speaker":"Nischal Shetty","startTime":1037.81,"endTime":1041.47,"body":"ensuring we have a clean"},{"speaker":"Nischal Shetty","startTime":1037.81,"endTime":1041.47,"body":"ecosystem. And then last year,"},{"speaker":"Nischal Shetty","startTime":1041.47,"endTime":1046.66,"body":"in March 2020, the Supreme Court"},{"speaker":"Nischal Shetty","startTime":1041.47,"endTime":1046.66,"body":"of India, they lifted the"},{"speaker":"Nischal Shetty","startTime":1046.69,"endTime":1050.32,"body":"banking restriction, or the"},{"speaker":"Nischal Shetty","startTime":1046.69,"endTime":1050.32,"body":"banking ban that existed, which"},{"speaker":"Nischal Shetty","startTime":1050.35,"endTime":1053.44,"body":"again opened up the doors for a"},{"speaker":"Nischal Shetty","startTime":1050.35,"endTime":1053.44,"body":"lot of people to be comfortable"},{"speaker":"Nischal Shetty","startTime":1053.44,"endTime":1057.67,"body":"with the buying and selling of"},{"speaker":"Nischal Shetty","startTime":1053.44,"endTime":1057.67,"body":"crypto. Then India experienced"},{"speaker":"Nischal Shetty","startTime":1057.67,"endTime":1061.51,"body":"the first lockdown. This was in"},{"speaker":"Nischal Shetty","startTime":1057.67,"endTime":1061.51,"body":"March 2020, we experienced the"},{"speaker":"Nischal Shetty","startTime":1061.51,"endTime":1064.87,"body":"first long term which extended"},{"speaker":"Nischal Shetty","startTime":1061.51,"endTime":1064.87,"body":"for three to six months in"},{"speaker":"Nischal Shetty","startTime":1064.87,"endTime":1067.96,"body":"different parts of the country."},{"speaker":"Nischal Shetty","startTime":1064.87,"endTime":1067.96,"body":"And during this time, a lot of"},{"speaker":"Nischal Shetty","startTime":1067.96,"endTime":1071.41,"body":"people started spending more"},{"speaker":"Nischal Shetty","startTime":1067.96,"endTime":1071.41,"body":"time online and all the"},{"speaker":"Nischal Shetty","startTime":1071.41,"endTime":1074.8,"body":"education initiatives that all"},{"speaker":"Nischal Shetty","startTime":1071.41,"endTime":1074.8,"body":"of us as an industry have been"},{"speaker":"Nischal Shetty","startTime":1075.34,"endTime":1078.64,"body":"working on, people started"},{"speaker":"Nischal Shetty","startTime":1075.34,"endTime":1078.64,"body":"consuming those information,"},{"speaker":"Nischal Shetty","startTime":1078.7,"endTime":1082.3,"body":"trying to understand what"},{"speaker":"Nischal Shetty","startTime":1078.7,"endTime":1082.3,"body":"cryptocurrencies are so the"},{"speaker":"Nischal Shetty","startTime":1082.33,"endTime":1085.21,"body":"three to six months of the"},{"speaker":"Nischal Shetty","startTime":1082.33,"endTime":1085.21,"body":"lockdown worked as a catalyst"},{"speaker":"Nischal Shetty","startTime":1085.39,"endTime":1088.66,"body":"for people to learn and"},{"speaker":"Nischal Shetty","startTime":1085.39,"endTime":1088.66,"body":"understand what crypto is. And"},{"speaker":"Nischal Shetty","startTime":1089.44,"endTime":1092.29,"body":"subsequently what happened is,"},{"speaker":"Nischal Shetty","startTime":1089.44,"endTime":1092.29,"body":"globally the price of Bitcoin"},{"speaker":"Nischal Shetty","startTime":1092.29,"endTime":1095.65,"body":"and other cryptocurrencies"},{"speaker":"Nischal Shetty","startTime":1092.29,"endTime":1095.65,"body":"started going upwards. So now"},{"speaker":"Nischal Shetty","startTime":1095.65,"endTime":1099.28,"body":"these people who got educated,"},{"speaker":"Nischal Shetty","startTime":1095.65,"endTime":1099.28,"body":"they started now coming into"},{"speaker":"Nischal Shetty","startTime":1099.28,"endTime":1103.12,"body":"buying cryptocurrencies to get"},{"speaker":"Nischal Shetty","startTime":1099.28,"endTime":1103.12,"body":"involved. So that started the"},{"speaker":"Nischal Shetty","startTime":1103.12,"endTime":1106.33,"body":"rapid rise of I would say, the"},{"speaker":"Nischal Shetty","startTime":1103.12,"endTime":1106.33,"body":"new set of people coming into"},{"speaker":"Nischal Shetty","startTime":1106.33,"endTime":1109.39,"body":"crypto. The difference this time"},{"speaker":"Nischal Shetty","startTime":1106.33,"endTime":1109.39,"body":"was these were people who are"},{"speaker":"Nischal Shetty","startTime":1109.39,"endTime":1113.14,"body":"more informed, more educated."},{"speaker":"Nischal Shetty","startTime":1109.39,"endTime":1113.14,"body":"And I would say they were taking"},{"speaker":"Nischal Shetty","startTime":1113.14,"endTime":1116.35,"body":"an informed decision compared to"},{"speaker":"Nischal Shetty","startTime":1113.14,"endTime":1116.35,"body":"2017, when it was just, you"},{"speaker":"Nischal Shetty","startTime":1116.35,"endTime":1118.66,"body":"know, let's just buy something"},{"speaker":"Nischal Shetty","startTime":1116.35,"endTime":1118.66,"body":"and because we're going to make"},{"speaker":"Nischal Shetty","startTime":1118.66,"endTime":1122.83,"body":"more money. So that helped and"},{"speaker":"Nischal Shetty","startTime":1118.66,"endTime":1122.83,"body":"then after that, I think a few"},{"speaker":"Nischal Shetty","startTime":1122.83,"endTime":1126.55,"body":"more things happen. For example,"},{"speaker":"Nischal Shetty","startTime":1122.83,"endTime":1126.55,"body":"PayPal announcing. So in India"},{"speaker":"Nischal Shetty","startTime":1126.64,"endTime":1129.85,"body":"are brands like PayPal, Elon"},{"speaker":"Nischal Shetty","startTime":1126.64,"endTime":1129.85,"body":"Musk, Tesla, these are known"},{"speaker":"Nischal Shetty","startTime":1129.85,"endTime":1133.9,"body":"names. Even though we don't have"},{"speaker":"Nischal Shetty","startTime":1129.85,"endTime":1133.9,"body":"a Tesla, you know, being sold in"},{"speaker":"Nischal Shetty","startTime":1133.9,"endTime":1136.75,"body":"India today, people know about"},{"speaker":"Nischal Shetty","startTime":1133.9,"endTime":1136.75,"body":"Tesla people know about Elon"},{"speaker":"Nischal Shetty","startTime":1136.75,"endTime":1140.56,"body":"Musk. So when all of these"},{"speaker":"Nischal Shetty","startTime":1136.75,"endTime":1140.56,"body":"companies, and these are known"},{"speaker":"Nischal Shetty","startTime":1140.56,"endTime":1143.59,"body":"celebrities, and known names."},{"speaker":"Nischal Shetty","startTime":1140.56,"endTime":1143.59,"body":"When they start talking about"},{"speaker":"Nischal Shetty","startTime":1143.59,"endTime":1147.73,"body":"crypto, people have even more"},{"speaker":"Nischal Shetty","startTime":1143.59,"endTime":1147.73,"body":"impact and more, I would say,"},{"speaker":"Nischal Shetty","startTime":1148.18,"endTime":1151.72,"body":"trust on the whole crypto"},{"speaker":"Nischal Shetty","startTime":1148.18,"endTime":1151.72,"body":"ecosystem. So that again,"},{"speaker":"Nischal Shetty","startTime":1151.72,"endTime":1156.46,"body":"bubbled up the whole influx of"},{"speaker":"Nischal Shetty","startTime":1151.72,"endTime":1156.46,"body":"new people. And that's been"},{"speaker":"Nischal Shetty","startTime":1156.52,"endTime":1159.97,"body":"going on month on month. In"},{"speaker":"Nischal Shetty","startTime":1156.52,"endTime":1159.97,"body":"fact, every month now, we are"},{"speaker":"Nischal Shetty","startTime":1159.97,"endTime":1162.58,"body":"seeing more people entering"},{"speaker":"Nischal Shetty","startTime":1159.97,"endTime":1162.58,"body":"crypto in India compared to the"},{"speaker":"Nischal Shetty","startTime":1162.58,"endTime":1165.88,"body":"month before that. And I think"},{"speaker":"Nischal Shetty","startTime":1162.58,"endTime":1165.88,"body":"this number is only going to"},{"speaker":"Nischal Shetty","startTime":1165.88,"endTime":1169.9,"body":"increase, we're still probably"},{"speaker":"Nischal Shetty","startTime":1165.88,"endTime":1169.9,"body":"at the very early stages. Not to"},{"speaker":"Nischal Shetty","startTime":1169.9,"endTime":1174.19,"body":"forget the Coinbase IPO that"},{"speaker":"Nischal Shetty","startTime":1169.9,"endTime":1174.19,"body":"brings in more legitimacy. So"},{"speaker":"Nischal Shetty","startTime":1174.19,"endTime":1176.74,"body":"what is happening in the last"},{"speaker":"Nischal Shetty","startTime":1174.19,"endTime":1176.74,"body":"two to three years, you see the"},{"speaker":"Nischal Shetty","startTime":1176.74,"endTime":1179.17,"body":"trust factor has been"},{"speaker":"Nischal Shetty","startTime":1176.74,"endTime":1179.17,"body":"increasing. And that's the most"},{"speaker":"Nischal Shetty","startTime":1179.17,"endTime":1182.5,"body":"important thing in crypto,"},{"speaker":"Nischal Shetty","startTime":1179.17,"endTime":1182.5,"body":"because what lacks today, or"},{"speaker":"Nischal Shetty","startTime":1182.5,"endTime":1186.04,"body":"what lacked in 2017 was the"},{"speaker":"Nischal Shetty","startTime":1182.5,"endTime":1186.04,"body":"trust factor. People did not"},{"speaker":"Nischal Shetty","startTime":1186.04,"endTime":1189.85,"body":"trust a lot of projects. People"},{"speaker":"Nischal Shetty","startTime":1186.04,"endTime":1189.85,"body":"did not trust the ecosystem. But"},{"speaker":"Nischal Shetty","startTime":1189.85,"endTime":1192.22,"body":"now that trust is building up"},{"speaker":"Nischal Shetty","startTime":1189.85,"endTime":1192.22,"body":"thanks to all of these"},{"speaker":"Nischal Shetty","startTime":1192.22,"endTime":1194.71,"body":"activities. Not just local, but"},{"speaker":"Nischal Shetty","startTime":1192.22,"endTime":1194.71,"body":"also the international"},{"speaker":"Nischal Shetty","startTime":1194.71,"endTime":1197.59,"body":"activities. And I think this is"},{"speaker":"Nischal Shetty","startTime":1194.71,"endTime":1197.59,"body":"only going to increase, you"},{"speaker":"Nischal Shetty","startTime":1197.59,"endTime":1201.55,"body":"know, I think every other week,"},{"speaker":"Nischal Shetty","startTime":1197.59,"endTime":1201.55,"body":"you hear of a new company like,"},{"speaker":"Nischal Shetty","startTime":1201.79,"endTime":1205.51,"body":"I think a few days back there"},{"speaker":"Nischal Shetty","startTime":1201.79,"endTime":1205.51,"body":"was Nexon from, if I'm not wrong"},{"speaker":"Nischal Shetty","startTime":1205.51,"endTime":1208.21,"body":"South Korea, which said they"},{"speaker":"Nischal Shetty","startTime":1205.51,"endTime":1208.21,"body":"bought $100 million dollar worth"},{"speaker":"Nischal Shetty","startTime":1208.21,"endTime":1211.0,"body":"of Bitcoin. So all of these news"},{"speaker":"Nischal Shetty","startTime":1208.21,"endTime":1211.0,"body":"are like, you know, impact"},{"speaker":"Nischal Shetty","startTime":1211.0,"endTime":1213.52,"body":"building and trust building"},{"speaker":"Nischal Shetty","startTime":1211.0,"endTime":1213.52,"body":"exercises for the crypto"},{"speaker":"Nischal Shetty","startTime":1213.52,"endTime":1218.11,"body":"ecosystem and Indian audiences,"},{"speaker":"Nischal Shetty","startTime":1213.52,"endTime":1218.11,"body":"we see that they're really"},{"speaker":"Nischal Shetty","startTime":1218.11,"endTime":1221.17,"body":"consuming this information and"},{"speaker":"Nischal Shetty","startTime":1218.11,"endTime":1221.17,"body":"then taking the decision to get"},{"speaker":"Nischal Shetty","startTime":1221.17,"endTime":1221.59,"body":"involved."},{"speaker":"Matt Zahab","startTime":1221.84,"endTime":1223.7,"body":"That's very"},{"speaker":"Matt Zahab","startTime":1221.84,"endTime":1223.7,"body":"enlightening. And again, just"},{"speaker":"Matt Zahab","startTime":1223.7,"endTime":1227.63,"body":"crazy the amount of people in"},{"speaker":"Matt Zahab","startTime":1223.7,"endTime":1227.63,"body":"India that can really contribute"},{"speaker":"Matt Zahab","startTime":1227.63,"endTime":1230.48,"body":"to one, the economy in general"},{"speaker":"Matt Zahab","startTime":1227.63,"endTime":1230.48,"body":"and furthermore, the crypto"},{"speaker":"Matt Zahab","startTime":1230.48,"endTime":1233.69,"body":"economy. A very bright future"},{"speaker":"Matt Zahab","startTime":1230.48,"endTime":1233.69,"body":"ahead. Folks, we're gonna take a"},{"speaker":"Matt Zahab","startTime":1233.87,"endTime":1238.19,"body":"quick little break and want to"},{"speaker":"Matt Zahab","startTime":1233.87,"endTime":1238.19,"body":"shout out one of our best"},{"speaker":"Matt Zahab","startTime":1238.19,"endTime":1241.1,"body":"sponsors and that is our friends"},{"speaker":"Matt Zahab","startTime":1238.19,"endTime":1241.1,"body":"at CoinPoker, who created the"},{"speaker":"Matt Zahab","startTime":1241.1,"endTime":1245.03,"body":"world's premier crypto poker"},{"speaker":"Matt Zahab","startTime":1241.1,"endTime":1245.03,"body":"platform. If you are a poker"},{"speaker":"Matt Zahab","startTime":1245.03,"endTime":1248.45,"body":"fanatic like me also a bit of a"},{"speaker":"Matt Zahab","startTime":1245.03,"endTime":1248.45,"body":"sports gambling fanatic,"},{"speaker":"Matt Zahab","startTime":1248.45,"endTime":1251.45,"body":"CoinPoker is the place to go. If"},{"speaker":"Matt Zahab","startTime":1248.45,"endTime":1251.45,"body":"you're also in the crypto world,"},{"speaker":"Matt Zahab","startTime":1251.78,"endTime":1255.08,"body":"it is a revolutionary blockchain"},{"speaker":"Matt Zahab","startTime":1251.78,"endTime":1255.08,"body":"technology based platform that"},{"speaker":"Matt Zahab","startTime":1255.08,"endTime":1258.92,"body":"was developed by an incredible"},{"speaker":"Matt Zahab","startTime":1255.08,"endTime":1258.92,"body":"team of poker lovers and sports"},{"speaker":"Matt Zahab","startTime":1258.92,"endTime":1263.24,"body":"gamblers alike. CoinPoker uses"},{"speaker":"Matt Zahab","startTime":1258.92,"endTime":1263.24,"body":"USDT as the main in game"},{"speaker":"Matt Zahab","startTime":1263.24,"endTime":1267.59,"body":"currency as well as $CHP which"},{"speaker":"Matt Zahab","startTime":1263.24,"endTime":1267.59,"body":"is the in game fuel. $CHP has"},{"speaker":"Matt Zahab","startTime":1267.59,"endTime":1270.95,"body":"done very well on a separate"},{"speaker":"Matt Zahab","startTime":1267.59,"endTime":1270.95,"body":"note. Tons of incredible"},{"speaker":"Matt Zahab","startTime":1270.95,"endTime":1275.42,"body":"features allowing you to"},{"speaker":"Matt Zahab","startTime":1270.95,"endTime":1275.42,"body":"transact in USDT Ether Bitcoin"},{"speaker":"Matt Zahab","startTime":1275.42,"endTime":1278.72,"body":"$CHP tokens, you name it. My"},{"speaker":"Matt Zahab","startTime":1275.42,"endTime":1278.72,"body":"favorite part is no KYC. You"},{"speaker":"Matt Zahab","startTime":1278.72,"endTime":1281.63,"body":"jump on board, you're locked and"},{"speaker":"Matt Zahab","startTime":1278.72,"endTime":1281.63,"body":"loaded. There's huge promotions,"},{"speaker":"Matt Zahab","startTime":1281.66,"endTime":1285.89,"body":"1000s in Fiat giveaways, tons of"},{"speaker":"Matt Zahab","startTime":1281.66,"endTime":1285.89,"body":"benefits, future developments,"},{"speaker":"Matt Zahab","startTime":1285.89,"endTime":1288.83,"body":"you name it, and I guess my"},{"speaker":"Matt Zahab","startTime":1285.89,"endTime":1288.83,"body":"favorite part of all i should"},{"speaker":"Matt Zahab","startTime":1288.83,"endTime":1291.92,"body":"say is probably the mobile app."},{"speaker":"Matt Zahab","startTime":1288.83,"endTime":1291.92,"body":"Whenever I'm on the go, I whip"},{"speaker":"Matt Zahab","startTime":1291.92,"endTime":1294.47,"body":"out my phone, if I'm waiting in"},{"speaker":"Matt Zahab","startTime":1291.92,"endTime":1294.47,"body":"line or doing whatever when I'm"},{"speaker":"Matt Zahab","startTime":1294.47,"endTime":1298.1,"body":"not on crypto Twitter, I will"},{"speaker":"Matt Zahab","startTime":1294.47,"endTime":1298.1,"body":"play a couple hands of Texas,"},{"speaker":"Matt Zahab","startTime":1298.1,"endTime":1301.64,"body":"maybe bet on some sports, see"},{"speaker":"Matt Zahab","startTime":1298.1,"endTime":1301.64,"body":"what's happening in the world of"},{"speaker":"Matt Zahab","startTime":1301.82,"endTime":1305.24,"body":"crypto poker and sports. And"},{"speaker":"Matt Zahab","startTime":1301.82,"endTime":1305.24,"body":"that is all done on"},{"speaker":"Matt Zahab","startTime":1305.27,"endTime":1310.19,"body":"coinpoker.com. Again, that is"},{"speaker":"Matt Zahab","startTime":1305.27,"endTime":1310.19,"body":"coinpoker.com. Now back to the"},{"speaker":"Matt Zahab","startTime":1310.19,"endTime":1319.7,"body":"show. Nischal, you just touched"},{"speaker":"Matt Zahab","startTime":1310.19,"endTime":1319.7,"body":"on the efforts of regulating"},{"speaker":"Matt Zahab","startTime":1319.7,"endTime":1324.98,"body":"crypto in India. I know this is"},{"speaker":"Matt Zahab","startTime":1319.7,"endTime":1324.98,"body":"a very potentially huge issue"},{"speaker":"Matt Zahab","startTime":1324.98,"endTime":1329.3,"body":"right now. The Indian government"},{"speaker":"Matt Zahab","startTime":1324.98,"endTime":1329.3,"body":"is potentially banning private"},{"speaker":"Matt Zahab","startTime":1329.3,"endTime":1332.3,"body":"cryptocurrencies. And that is"},{"speaker":"Matt Zahab","startTime":1329.3,"endTime":1332.3,"body":"part of the bill that was"},{"speaker":"Matt Zahab","startTime":1332.3,"endTime":1336.71,"body":"tabled. The bill is the"},{"speaker":"Matt Zahab","startTime":1332.3,"endTime":1336.71,"body":"cryptocurrency and regulation of"},{"speaker":"Matt Zahab","startTime":1336.71,"endTime":1340.52,"body":"official digital currency bill"},{"speaker":"Matt Zahab","startTime":1336.71,"endTime":1340.52,"body":"of 2021. Before we get into what"},{"speaker":"Matt Zahab","startTime":1340.52,"endTime":1343.85,"body":"you and your team are doing, the"},{"speaker":"Matt Zahab","startTime":1340.52,"endTime":1343.85,"body":"negative aspects of this bill"},{"speaker":"Matt Zahab","startTime":1343.88,"endTime":1346.91,"body":"include blocking the IP"},{"speaker":"Matt Zahab","startTime":1343.88,"endTime":1346.91,"body":"addresses of crypto companies."},{"speaker":"Matt Zahab","startTime":1347.33,"endTime":1351.05,"body":"It would also give holders of"},{"speaker":"Matt Zahab","startTime":1347.33,"endTime":1351.05,"body":"crypto up to six months to"},{"speaker":"Matt Zahab","startTime":1351.05,"endTime":1353.21,"body":"liquidate, I don't even know how"},{"speaker":"Matt Zahab","startTime":1351.05,"endTime":1353.21,"body":"you do that that would be a"},{"speaker":"Matt Zahab","startTime":1353.21,"endTime":1357.26,"body":"nightmare, and as stated"},{"speaker":"Matt Zahab","startTime":1353.21,"endTime":1357.26,"body":"earlier, India has over 11"},{"speaker":"Matt Zahab","startTime":1357.26,"endTime":1359.78,"body":"million crypto users, half a"},{"speaker":"Matt Zahab","startTime":1357.26,"endTime":1359.78,"body":"million day traders and more"},{"speaker":"Matt Zahab","startTime":1359.78,"endTime":1364.01,"body":"than 4000 people employed in the"},{"speaker":"Matt Zahab","startTime":1359.78,"endTime":1364.01,"body":"industry. This just seems like a"},{"speaker":"Matt Zahab","startTime":1364.04,"endTime":1369.5,"body":"bonfire waiting to go off. You"},{"speaker":"Matt Zahab","startTime":1364.04,"endTime":1369.5,"body":"and your team have launched and"},{"speaker":"Matt Zahab","startTime":1369.5,"endTime":1373.73,"body":"spearheaded something called the"},{"speaker":"Matt Zahab","startTime":1369.5,"endTime":1373.73,"body":"code of conduct. And that is"},{"speaker":"Matt Zahab","startTime":1373.76,"endTime":1378.23,"body":"obviously in part that you are a"},{"speaker":"Matt Zahab","startTime":1373.76,"endTime":1378.23,"body":"member of the internet and"},{"speaker":"Matt Zahab","startTime":1378.23,"endTime":1382.91,"body":"mobile association of India,"},{"speaker":"Matt Zahab","startTime":1378.23,"endTime":1382.91,"body":"working on that code of conduct"},{"speaker":"Matt Zahab","startTime":1382.91,"endTime":1386.0,"body":"for cryptocurrency companies in"},{"speaker":"Matt Zahab","startTime":1382.91,"endTime":1386.0,"body":"India, which pretty much sets"},{"speaker":"Matt Zahab","startTime":1386.0,"endTime":1388.85,"body":"out a guideline for KYC, AML,"},{"speaker":"Matt Zahab","startTime":1386.0,"endTime":1388.85,"body":"which stands for know your"},{"speaker":"Matt Zahab","startTime":1388.85,"endTime":1392.33,"body":"client anti-money laundering and"},{"speaker":"Matt Zahab","startTime":1388.85,"endTime":1392.33,"body":"other regulatory related"},{"speaker":"Matt Zahab","startTime":1392.33,"endTime":1396.38,"body":"features. I know the whole point"},{"speaker":"Matt Zahab","startTime":1392.33,"endTime":1396.38,"body":"of this is to you know, curb the"},{"speaker":"Matt Zahab","startTime":1396.38,"endTime":1399.71,"body":"illegal activities, and so"},{"speaker":"Matt Zahab","startTime":1396.38,"endTime":1399.71,"body":"exchanges can help with law"},{"speaker":"Matt Zahab","startTime":1399.71,"endTime":1403.73,"body":"enforcement agencies and educate"},{"speaker":"Matt Zahab","startTime":1399.71,"endTime":1403.73,"body":"the masses of crypto. I hope I"},{"speaker":"Matt Zahab","startTime":1403.73,"endTime":1406.76,"body":"got most of that right, but this"},{"speaker":"Matt Zahab","startTime":1403.73,"endTime":1406.76,"body":"is something huge and you guys"},{"speaker":"Matt Zahab","startTime":1406.76,"endTime":1410.99,"body":"can literally curb this whole"},{"speaker":"Matt Zahab","startTime":1406.76,"endTime":1410.99,"body":"regulation that could happen."},{"speaker":"Matt Zahab","startTime":1410.99,"endTime":1414.23,"body":"And I would love if you can just"},{"speaker":"Matt Zahab","startTime":1410.99,"endTime":1414.23,"body":"tell me the very high level"},{"speaker":"Matt Zahab","startTime":1414.23,"endTime":1415.91,"body":"explanation of what's going on"},{"speaker":"Matt Zahab","startTime":1414.23,"endTime":1415.91,"body":"back home?"},{"speaker":"Nischal Shetty","startTime":1415.94,"endTime":1419.48,"body":"Sure. I think"},{"speaker":"Nischal Shetty","startTime":1415.94,"endTime":1419.48,"body":"you got everything right. And if"},{"speaker":"Nischal Shetty","startTime":1419.48,"endTime":1424.46,"body":"you look at the regulatory"},{"speaker":"Nischal Shetty","startTime":1419.48,"endTime":1424.46,"body":"scenario in India right now, I"},{"speaker":"Nischal Shetty","startTime":1424.46,"endTime":1427.85,"body":"see that as progress, though,"},{"speaker":"Nischal Shetty","startTime":1424.46,"endTime":1427.85,"body":"you know, it might come off when"},{"speaker":"Nischal Shetty","startTime":1427.85,"endTime":1433.25,"body":"you read the news that it's all"},{"speaker":"Nischal Shetty","startTime":1427.85,"endTime":1433.25,"body":"so negative. I would say I see"},{"speaker":"Nischal Shetty","startTime":1433.25,"endTime":1437.66,"body":"that as progress for a few"},{"speaker":"Nischal Shetty","startTime":1433.25,"endTime":1437.66,"body":"reasons. The first is, until"},{"speaker":"Nischal Shetty","startTime":1437.66,"endTime":1442.55,"body":"this year, our government has"},{"speaker":"Nischal Shetty","startTime":1437.66,"endTime":1442.55,"body":"never officially spoken anything"},{"speaker":"Nischal Shetty","startTime":1442.55,"endTime":1446.96,"body":"about cryptocurrencies, neither"},{"speaker":"Nischal Shetty","startTime":1442.55,"endTime":1446.96,"body":"negative nor positive. It's just"},{"speaker":"Nischal Shetty","startTime":1446.96,"endTime":1451.67,"body":"been reports in the media and"},{"speaker":"Nischal Shetty","startTime":1446.96,"endTime":1451.67,"body":"probably unknown sources that"},{"speaker":"Nischal Shetty","startTime":1451.67,"endTime":1454.61,"body":"we've heard from, but we've"},{"speaker":"Nischal Shetty","startTime":1451.67,"endTime":1454.61,"body":"never had any official"},{"speaker":"Nischal Shetty","startTime":1454.97,"endTime":1458.84,"body":"communication around"},{"speaker":"Nischal Shetty","startTime":1454.97,"endTime":1458.84,"body":"cryptocurrencies or how to"},{"speaker":"Nischal Shetty","startTime":1458.84,"endTime":1463.31,"body":"regulate. So whether it's"},{"speaker":"Nischal Shetty","startTime":1458.84,"endTime":1463.31,"body":"positive or negative, I would"},{"speaker":"Nischal Shetty","startTime":1463.31,"endTime":1466.55,"body":"say the government of India has"},{"speaker":"Nischal Shetty","startTime":1463.31,"endTime":1466.55,"body":"now taken the steps towards"},{"speaker":"Nischal Shetty","startTime":1466.55,"endTime":1470.75,"body":"regulation. Now the thing is,"},{"speaker":"Nischal Shetty","startTime":1466.55,"endTime":1470.75,"body":"you heard about the bill and"},{"speaker":"Nischal Shetty","startTime":1470.75,"endTime":1474.41,"body":"there was a small description"},{"speaker":"Nischal Shetty","startTime":1470.75,"endTime":1474.41,"body":"when the bill was announced. We"},{"speaker":"Nischal Shetty","startTime":1474.41,"endTime":1477.17,"body":"don't know what the exact"},{"speaker":"Nischal Shetty","startTime":1474.41,"endTime":1477.17,"body":"contents of the bill are, we"},{"speaker":"Nischal Shetty","startTime":1477.17,"endTime":1480.35,"body":"just have some three liners, the"},{"speaker":"Nischal Shetty","startTime":1477.17,"endTime":1480.35,"body":"description of the bill, which"},{"speaker":"Nischal Shetty","startTime":1480.35,"endTime":1484.31,"body":"is where the intention to ban"},{"speaker":"Nischal Shetty","startTime":1480.35,"endTime":1484.31,"body":"private currencies was"},{"speaker":"Nischal Shetty","startTime":1484.31,"endTime":1490.19,"body":"mentioned. But after that, our"},{"speaker":"Nischal Shetty","startTime":1484.31,"endTime":1490.19,"body":"finance minister, she came on"},{"speaker":"Nischal Shetty","startTime":1490.19,"endTime":1493.88,"body":"record on a video interview and"},{"speaker":"Nischal Shetty","startTime":1490.19,"endTime":1493.88,"body":"she said that India does not"},{"speaker":"Nischal Shetty","startTime":1493.88,"endTime":1497.36,"body":"intend to go towards a very"},{"speaker":"Nischal Shetty","startTime":1493.88,"endTime":1497.36,"body":"negative approach, but India"},{"speaker":"Nischal Shetty","startTime":1497.36,"endTime":1500.12,"body":"will take a calibrated approach"},{"speaker":"Nischal Shetty","startTime":1497.36,"endTime":1500.12,"body":"towards regulating In"},{"speaker":"Nischal Shetty","startTime":1500.12,"endTime":1503.6,"body":"cryptocurrencies, and I think"},{"speaker":"Nischal Shetty","startTime":1500.12,"endTime":1503.6,"body":"that's a very positive move. And"},{"speaker":"Nischal Shetty","startTime":1503.63,"endTime":1507.8,"body":"she also mentioned that other"},{"speaker":"Nischal Shetty","startTime":1503.63,"endTime":1507.8,"body":"countries are participating, and"},{"speaker":"Nischal Shetty","startTime":1507.8,"endTime":1510.92,"body":"India cannot stay on the"},{"speaker":"Nischal Shetty","startTime":1507.8,"endTime":1510.92,"body":"sidelines, and that's something"},{"speaker":"Nischal Shetty","startTime":1510.92,"endTime":1514.16,"body":"that everyone in the industry"},{"speaker":"Nischal Shetty","startTime":1510.92,"endTime":1514.16,"body":"also resonates with because if"},{"speaker":"Nischal Shetty","startTime":1514.16,"endTime":1518.6,"body":"you look at India's history, we"},{"speaker":"Nischal Shetty","startTime":1514.16,"endTime":1518.6,"body":"are a tech first nation. We are"},{"speaker":"Nischal Shetty","startTime":1518.6,"endTime":1522.35,"body":"one of the top nations in"},{"speaker":"Nischal Shetty","startTime":1518.6,"endTime":1522.35,"body":"software technology as well. So,"},{"speaker":"Nischal Shetty","startTime":1522.65,"endTime":1526.16,"body":"you know, I believe that as a"},{"speaker":"Nischal Shetty","startTime":1522.65,"endTime":1526.16,"body":"nation, which is so deep into"},{"speaker":"Nischal Shetty","startTime":1526.16,"endTime":1529.76,"body":"software, we are not going to"},{"speaker":"Nischal Shetty","startTime":1526.16,"endTime":1529.76,"body":"sit on the sidelines, while the"},{"speaker":"Nischal Shetty","startTime":1529.76,"endTime":1533.66,"body":"rest of the world innovates in"},{"speaker":"Nischal Shetty","startTime":1529.76,"endTime":1533.66,"body":"crypto. And I don't believe our"},{"speaker":"Nischal Shetty","startTime":1533.66,"endTime":1536.9,"body":"leaders are going to do that."},{"speaker":"Nischal Shetty","startTime":1533.66,"endTime":1536.9,"body":"But the regulatory process is"},{"speaker":"Nischal Shetty","startTime":1536.9,"endTime":1539.93,"body":"very different. What happens is,"},{"speaker":"Nischal Shetty","startTime":1536.9,"endTime":1539.93,"body":"when you want to get into"},{"speaker":"Nischal Shetty","startTime":1539.93,"endTime":1544.34,"body":"regulation, the first thing that"},{"speaker":"Nischal Shetty","startTime":1539.93,"endTime":1544.34,"body":"regulators usually look for is"},{"speaker":"Nischal Shetty","startTime":1544.34,"endTime":1547.61,"body":"what are the problems that"},{"speaker":"Nischal Shetty","startTime":1544.34,"endTime":1547.61,"body":"exist? And this is where the"},{"speaker":"Nischal Shetty","startTime":1547.61,"endTime":1551.42,"body":"concerns come up because there"},{"speaker":"Nischal Shetty","startTime":1547.61,"endTime":1551.42,"body":"are a lot of I would say,"},{"speaker":"Nischal Shetty","startTime":1551.42,"endTime":1555.41,"body":"misconceptions around what"},{"speaker":"Nischal Shetty","startTime":1551.42,"endTime":1555.41,"body":"cryptocurrencies are, there are"},{"speaker":"Nischal Shetty","startTime":1555.41,"endTime":1558.98,"body":"misconceptions around the way"},{"speaker":"Nischal Shetty","startTime":1555.41,"endTime":1558.98,"body":"cryptocurrencies can be used,"},{"speaker":"Nischal Shetty","startTime":1559.19,"endTime":1564.08,"body":"and these misconceptions coupled"},{"speaker":"Nischal Shetty","startTime":1559.19,"endTime":1564.08,"body":"with some of the, I will say"},{"speaker":"Nischal Shetty","startTime":1564.08,"endTime":1567.83,"body":"past, like I was talking about,"},{"speaker":"Nischal Shetty","startTime":1564.08,"endTime":1567.83,"body":"you know, the scams and all the"},{"speaker":"Nischal Shetty","startTime":1567.83,"endTime":1571.37,"body":"unwanted activities that are"},{"speaker":"Nischal Shetty","startTime":1567.83,"endTime":1571.37,"body":"happening in the past. They take"},{"speaker":"Nischal Shetty","startTime":1571.43,"endTime":1576.38,"body":"a different approach which is"},{"speaker":"Nischal Shetty","startTime":1571.43,"endTime":1576.38,"body":"how do you curb this? And that's"},{"speaker":"Nischal Shetty","startTime":1576.38,"endTime":1580.31,"body":"where I think, you know,"},{"speaker":"Nischal Shetty","startTime":1576.38,"endTime":1580.31,"body":"discussion around a ban, or how"},{"speaker":"Nischal Shetty","startTime":1580.31,"endTime":1584.81,"body":"do you stop it? Or how do you"},{"speaker":"Nischal Shetty","startTime":1580.31,"endTime":1584.81,"body":"block it, that appears. But it's"},{"speaker":"Nischal Shetty","startTime":1584.9,"endTime":1587.6,"body":"all right, because as an"},{"speaker":"Nischal Shetty","startTime":1584.9,"endTime":1587.6,"body":"industry, our objective is, now"},{"speaker":"Nischal Shetty","startTime":1587.6,"endTime":1591.65,"body":"how do we take all of these"},{"speaker":"Nischal Shetty","startTime":1587.6,"endTime":1591.65,"body":"concerns that regulators might"},{"speaker":"Nischal Shetty","startTime":1591.65,"endTime":1597.8,"body":"have, and, you know, sort of"},{"speaker":"Nischal Shetty","startTime":1591.65,"endTime":1597.8,"body":"compose the right set of things"},{"speaker":"Nischal Shetty","startTime":1597.8,"endTime":1601.25,"body":"to do so that these concerns can"},{"speaker":"Nischal Shetty","startTime":1597.8,"endTime":1601.25,"body":"be eliminated. And that's where"},{"speaker":"Nischal Shetty","startTime":1601.25,"endTime":1603.47,"body":"the code of conduct that you"},{"speaker":"Nischal Shetty","startTime":1601.25,"endTime":1603.47,"body":"were talking about comes into"},{"speaker":"Nischal Shetty","startTime":1603.47,"endTime":1607.43,"body":"the picture. So what we did as"},{"speaker":"Nischal Shetty","startTime":1603.47,"endTime":1607.43,"body":"an industry, instead of waiting"},{"speaker":"Nischal Shetty","startTime":1607.46,"endTime":1611.24,"body":"for the regulator's to come up"},{"speaker":"Nischal Shetty","startTime":1607.46,"endTime":1611.24,"body":"with some regulation and then"},{"speaker":"Nischal Shetty","startTime":1611.27,"endTime":1614.93,"body":"implementing them, we prepared a"},{"speaker":"Nischal Shetty","startTime":1611.27,"endTime":1614.93,"body":"code of conduct, which addresses"},{"speaker":"Nischal Shetty","startTime":1614.96,"endTime":1618.44,"body":"all of these concerns that we"},{"speaker":"Nischal Shetty","startTime":1614.96,"endTime":1618.44,"body":"have seen the regulators have"},{"speaker":"Nischal Shetty","startTime":1618.77,"endTime":1621.29,"body":"and we want to adopt the"},{"speaker":"Nischal Shetty","startTime":1618.77,"endTime":1621.29,"body":"measures like your know your"},{"speaker":"Nischal Shetty","startTime":1621.5,"endTime":1624.77,"body":"clients, or know your customers"},{"speaker":"Nischal Shetty","startTime":1621.5,"endTime":1624.77,"body":"that we call out here, which is"},{"speaker":"Nischal Shetty","startTime":1624.77,"endTime":1628.37,"body":"to make sure that we have"},{"speaker":"Nischal Shetty","startTime":1624.77,"endTime":1628.37,"body":"identity document, anti money"},{"speaker":"Nischal Shetty","startTime":1628.37,"endTime":1632.21,"body":"laundering measures, we already"},{"speaker":"Nischal Shetty","startTime":1628.37,"endTime":1632.21,"body":"implement that as an exchange"},{"speaker":"Nischal Shetty","startTime":1632.33,"endTime":1635.36,"body":"and the other exchanges in the"},{"speaker":"Nischal Shetty","startTime":1632.33,"endTime":1635.36,"body":"country do that. Our objective"},{"speaker":"Nischal Shetty","startTime":1635.36,"endTime":1639.05,"body":"is, once we adopt these things"},{"speaker":"Nischal Shetty","startTime":1635.36,"endTime":1639.05,"body":"on our own, without waiting for"},{"speaker":"Nischal Shetty","startTime":1639.05,"endTime":1642.56,"body":"regulators, when the regulator's"},{"speaker":"Nischal Shetty","startTime":1639.05,"endTime":1642.56,"body":"finally want to regulate, they"},{"speaker":"Nischal Shetty","startTime":1642.56,"endTime":1645.38,"body":"come to a clean ecosystem,"},{"speaker":"Nischal Shetty","startTime":1642.56,"endTime":1645.38,"body":"instead of having to come to an"},{"speaker":"Nischal Shetty","startTime":1645.38,"endTime":1649.19,"body":"ecosystem where there is a lot"},{"speaker":"Nischal Shetty","startTime":1645.38,"endTime":1649.19,"body":"of fires to put out, because of"},{"speaker":"Nischal Shetty","startTime":1649.43,"endTime":1652.58,"body":"various, you know, wrongdoings"},{"speaker":"Nischal Shetty","startTime":1649.43,"endTime":1652.58,"body":"in the industry. So this, I'm"},{"speaker":"Nischal Shetty","startTime":1652.58,"endTime":1655.4,"body":"proud to say that we have a very"},{"speaker":"Nischal Shetty","startTime":1652.58,"endTime":1655.4,"body":"clean ecosystem in the country"},{"speaker":"Nischal Shetty","startTime":1655.4,"endTime":1659.0,"body":"today in crypto. And that's"},{"speaker":"Nischal Shetty","startTime":1655.4,"endTime":1659.0,"body":"because all of us have taken the"},{"speaker":"Nischal Shetty","startTime":1659.0,"endTime":1662.72,"body":"approach of self regulating, you"},{"speaker":"Nischal Shetty","startTime":1659.0,"endTime":1662.72,"body":"know, instead of waiting for"},{"speaker":"Nischal Shetty","startTime":1662.72,"endTime":1667.55,"body":"regulators to come in. Now, what"},{"speaker":"Nischal Shetty","startTime":1662.72,"endTime":1667.55,"body":"direction do we go from here? I"},{"speaker":"Nischal Shetty","startTime":1667.55,"endTime":1671.36,"body":"think the most important thing"},{"speaker":"Nischal Shetty","startTime":1667.55,"endTime":1671.36,"body":"about the bill that is yet not"},{"speaker":"Nischal Shetty","startTime":1671.39,"endTime":1674.15,"body":"introduced or in the public"},{"speaker":"Nischal Shetty","startTime":1671.39,"endTime":1674.15,"body":"domain is the bill has been"},{"speaker":"Nischal Shetty","startTime":1674.15,"endTime":1676.61,"body":"built completely from a"},{"speaker":"Nischal Shetty","startTime":1674.15,"endTime":1676.61,"body":"theoretical knowledge of"},{"speaker":"Nischal Shetty","startTime":1676.64,"endTime":1679.67,"body":"cryptocurrencies. And why do I"},{"speaker":"Nischal Shetty","startTime":1676.64,"endTime":1679.67,"body":"say that is because none of the"},{"speaker":"Nischal Shetty","startTime":1679.67,"endTime":1682.64,"body":"industry players in the country"},{"speaker":"Nischal Shetty","startTime":1679.67,"endTime":1682.64,"body":"have been approached for any"},{"speaker":"Nischal Shetty","startTime":1682.64,"endTime":1686.6,"body":"discussions. And that I would"},{"speaker":"Nischal Shetty","startTime":1682.64,"endTime":1686.6,"body":"say is, again, a good thing."},{"speaker":"Nischal Shetty","startTime":1686.9,"endTime":1690.74,"body":"Because the way a bill gets into"},{"speaker":"Nischal Shetty","startTime":1686.9,"endTime":1690.74,"body":"law is, there is always"},{"speaker":"Nischal Shetty","startTime":1690.74,"endTime":1694.22,"body":"deliberation for the industry."},{"speaker":"Nischal Shetty","startTime":1690.74,"endTime":1694.22,"body":"Since it has not yet happened, I"},{"speaker":"Nischal Shetty","startTime":1694.22,"endTime":1697.4,"body":"believe it will happen in the"},{"speaker":"Nischal Shetty","startTime":1694.22,"endTime":1697.4,"body":"future and when that happens,"},{"speaker":"Nischal Shetty","startTime":1697.67,"endTime":1700.25,"body":"we'll be ready with all of the"},{"speaker":"Nischal Shetty","startTime":1697.67,"endTime":1700.25,"body":"content and all of the"},{"speaker":"Nischal Shetty","startTime":1700.46,"endTime":1703.22,"body":"implementations we've done on"},{"speaker":"Nischal Shetty","startTime":1700.46,"endTime":1703.22,"body":"our end, to present it to our"},{"speaker":"Nischal Shetty","startTime":1703.22,"endTime":1707.33,"body":"lawmakers to show them how on"},{"speaker":"Nischal Shetty","startTime":1703.22,"endTime":1707.33,"body":"the ground, while you know, you"},{"speaker":"Nischal Shetty","startTime":1707.33,"endTime":1710.24,"body":"might have concerns, but on the"},{"speaker":"Nischal Shetty","startTime":1707.33,"endTime":1710.24,"body":"ground, this is a reality. This"},{"speaker":"Nischal Shetty","startTime":1710.24,"endTime":1714.02,"body":"is the data. This is how people"},{"speaker":"Nischal Shetty","startTime":1710.24,"endTime":1714.02,"body":"are using cryptocurrency. And"},{"speaker":"Nischal Shetty","startTime":1714.17,"endTime":1717.44,"body":"these are the kinds of self"},{"speaker":"Nischal Shetty","startTime":1714.17,"endTime":1717.44,"body":"regulatory approach we've taken."},{"speaker":"Nischal Shetty","startTime":1717.71,"endTime":1720.95,"body":"So we as an industry are waiting"},{"speaker":"Nischal Shetty","startTime":1717.71,"endTime":1720.95,"body":"for that dialogue to start, and"},{"speaker":"Nischal Shetty","startTime":1720.95,"endTime":1724.16,"body":"I think regulations will take"},{"speaker":"Nischal Shetty","startTime":1720.95,"endTime":1724.16,"body":"time. Even if there is a bill,"},{"speaker":"Nischal Shetty","startTime":1724.37,"endTime":1728.27,"body":"it takes time for it to be"},{"speaker":"Nischal Shetty","startTime":1724.37,"endTime":1728.27,"body":"converted into a law, and I"},{"speaker":"Nischal Shetty","startTime":1728.27,"endTime":1731.57,"body":"think that timeframe is where as"},{"speaker":"Nischal Shetty","startTime":1728.27,"endTime":1731.57,"body":"an industry, we want to make"},{"speaker":"Nischal Shetty","startTime":1731.57,"endTime":1735.35,"body":"sure that we represent ourselves"},{"speaker":"Nischal Shetty","startTime":1731.57,"endTime":1735.35,"body":"in the right way. So i think i'm"},{"speaker":"Nischal Shetty","startTime":1735.35,"endTime":1738.89,"body":"just i'm very positive. I'm just"},{"speaker":"Nischal Shetty","startTime":1735.35,"endTime":1738.89,"body":"happy that our government has"},{"speaker":"Nischal Shetty","startTime":1738.89,"endTime":1743.0,"body":"started this path towards"},{"speaker":"Nischal Shetty","startTime":1738.89,"endTime":1743.0,"body":"regulation. And I'm confident we"},{"speaker":"Nischal Shetty","startTime":1743.0,"endTime":1746.81,"body":"will find a middle path and not"},{"speaker":"Nischal Shetty","startTime":1743.0,"endTime":1746.81,"body":"go towards a complete ban"},{"speaker":"Nischal Shetty","startTime":1747.47,"endTime":1750.5,"body":"because like you said, there are"},{"speaker":"Nischal Shetty","startTime":1747.47,"endTime":1750.5,"body":"over 10 million people in India"},{"speaker":"Nischal Shetty","startTime":1750.53,"endTime":1755.96,"body":"over cryptocurrencies, and it's"},{"speaker":"Nischal Shetty","startTime":1750.53,"endTime":1755.96,"body":"worth over $1.5 billion. And I'm"},{"speaker":"Nischal Shetty","startTime":1755.96,"endTime":1758.93,"body":"just talking conservative"},{"speaker":"Nischal Shetty","startTime":1755.96,"endTime":1758.93,"body":"numbers by extrapolating amongst"},{"speaker":"Nischal Shetty","startTime":1758.96,"endTime":1761.6,"body":"the various exchanges. I'm sure"},{"speaker":"Nischal Shetty","startTime":1758.96,"endTime":1761.6,"body":"there are a lot of decentralized"},{"speaker":"Nischal Shetty","startTime":1761.6,"endTime":1766.1,"body":"wallets, a lot of international"},{"speaker":"Nischal Shetty","startTime":1761.6,"endTime":1766.1,"body":"wallets that people use. So"},{"speaker":"Nischal Shetty","startTime":1766.1,"endTime":1770.57,"body":"overall, I think it's a large"},{"speaker":"Nischal Shetty","startTime":1766.1,"endTime":1770.57,"body":"industry. And there are rumors"},{"speaker":"Nischal Shetty","startTime":1770.57,"endTime":1774.11,"body":"about giving six months to exit."},{"speaker":"Nischal Shetty","startTime":1770.57,"endTime":1774.11,"body":"But think about it, Indians can"},{"speaker":"Nischal Shetty","startTime":1774.11,"endTime":1777.86,"body":"only sell it to Indians. If"},{"speaker":"Nischal Shetty","startTime":1774.11,"endTime":1777.86,"body":"there is indeed a ban that is"},{"speaker":"Nischal Shetty","startTime":1777.92,"endTime":1780.95,"body":"being planned, how would you"},{"speaker":"Nischal Shetty","startTime":1777.92,"endTime":1780.95,"body":"ever exit because no other"},{"speaker":"Nischal Shetty","startTime":1780.95,"endTime":1783.98,"body":"Indian is going to buy those"},{"speaker":"Nischal Shetty","startTime":1780.95,"endTime":1783.98,"body":"cryptocurrencies? So you know,"},{"speaker":"Nischal Shetty","startTime":1784.01,"endTime":1788.75,"body":"that's an issue in itself. So I"},{"speaker":"Nischal Shetty","startTime":1784.01,"endTime":1788.75,"body":"think, I don't believe we are"},{"speaker":"Nischal Shetty","startTime":1788.75,"endTime":1791.84,"body":"going to go in the direction of"},{"speaker":"Nischal Shetty","startTime":1788.75,"endTime":1791.84,"body":"a ban, it's just that this is"},{"speaker":"Nischal Shetty","startTime":1791.84,"endTime":1795.71,"body":"how regulations work. It takes"},{"speaker":"Nischal Shetty","startTime":1791.84,"endTime":1795.71,"body":"time. There is always a negative"},{"speaker":"Nischal Shetty","startTime":1796.22,"endTime":1800.18,"body":"side and a positive side and the"},{"speaker":"Nischal Shetty","startTime":1796.22,"endTime":1800.18,"body":"right way to treat this as To"},{"speaker":"Nischal Shetty","startTime":1800.18,"endTime":1803.09,"body":"find that middle path, and I'm"},{"speaker":"Nischal Shetty","startTime":1800.18,"endTime":1803.09,"body":"confident that India will do"},{"speaker":"Nischal Shetty","startTime":1803.09,"endTime":1803.96,"body":"that eventually."},{"speaker":"Matt Zahab","startTime":1804.23,"endTime":1806.51,"body":"And correct me if"},{"speaker":"Matt Zahab","startTime":1804.23,"endTime":1806.51,"body":"I'm wrong here, but the more"},{"speaker":"Matt Zahab","startTime":1806.57,"endTime":1810.77,"body":"Indians who start holding"},{"speaker":"Matt Zahab","startTime":1806.57,"endTime":1810.77,"body":"crypto, and the more people who"},{"speaker":"Matt Zahab","startTime":1810.77,"endTime":1813.35,"body":"join the industry, would it not"},{"speaker":"Matt Zahab","startTime":1810.77,"endTime":1813.35,"body":"be harder for government and the"},{"speaker":"Matt Zahab","startTime":1813.35,"endTime":1815.39,"body":"regulators to put a stomp on"},{"speaker":"Matt Zahab","startTime":1813.35,"endTime":1815.39,"body":"this?"},{"speaker":"Nischal Shetty","startTime":1815.48,"endTime":1817.31,"body":"Yeah,"},{"speaker":"Nischal Shetty","startTime":1815.48,"endTime":1817.31,"body":"absolutely. It's very similar to"},{"speaker":"Nischal Shetty","startTime":1817.31,"endTime":1819.92,"body":"the internet. Now think about"},{"speaker":"Nischal Shetty","startTime":1817.31,"endTime":1819.92,"body":"the internet. A lot of the"},{"speaker":"Nischal Shetty","startTime":1819.92,"endTime":1823.22,"body":"internet businesses, even today,"},{"speaker":"Nischal Shetty","startTime":1819.92,"endTime":1823.22,"body":"are not regulated, but they"},{"speaker":"Nischal Shetty","startTime":1823.25,"endTime":1826.22,"body":"service millions of people."},{"speaker":"Nischal Shetty","startTime":1823.25,"endTime":1826.22,"body":"Social networks, for example,"},{"speaker":"Nischal Shetty","startTime":1827.18,"endTime":1830.66,"body":"They're still not regulated, and"},{"speaker":"Nischal Shetty","startTime":1827.18,"endTime":1830.66,"body":"they have millions of people"},{"speaker":"Nischal Shetty","startTime":1830.69,"endTime":1833.81,"body":"using them, which is also the"},{"speaker":"Nischal Shetty","startTime":1830.69,"endTime":1833.81,"body":"reason why governments have to"},{"speaker":"Nischal Shetty","startTime":1833.81,"endTime":1837.53,"body":"take the time to understand"},{"speaker":"Nischal Shetty","startTime":1833.81,"endTime":1837.53,"body":"what's the right approach to"},{"speaker":"Nischal Shetty","startTime":1837.53,"endTime":1842.66,"body":"regulating an industry. And the"},{"speaker":"Nischal Shetty","startTime":1837.53,"endTime":1842.66,"body":"more an industry grows, the more"},{"speaker":"Nischal Shetty","startTime":1842.93,"endTime":1846.53,"body":"cautious every government has to"},{"speaker":"Nischal Shetty","startTime":1842.93,"endTime":1846.53,"body":"be. And in fact, this is one of"},{"speaker":"Nischal Shetty","startTime":1846.53,"endTime":1850.97,"body":"the reasons I'm a large"},{"speaker":"Nischal Shetty","startTime":1846.53,"endTime":1850.97,"body":"proponent of growing the"},{"speaker":"Nischal Shetty","startTime":1850.97,"endTime":1854.12,"body":"ecosystem. While we always work"},{"speaker":"Nischal Shetty","startTime":1850.97,"endTime":1854.12,"body":"towards the regulation, but I"},{"speaker":"Nischal Shetty","startTime":1854.12,"endTime":1857.72,"body":"think the best way to get in the"},{"speaker":"Nischal Shetty","startTime":1854.12,"endTime":1857.72,"body":"right regulation is to grow the"},{"speaker":"Nischal Shetty","startTime":1857.72,"endTime":1861.95,"body":"industry as fast as possible,"},{"speaker":"Nischal Shetty","startTime":1857.72,"endTime":1861.95,"body":"and build really large startups"},{"speaker":"Nischal Shetty","startTime":1861.95,"endTime":1864.41,"body":"in the country, because that"},{"speaker":"Nischal Shetty","startTime":1861.95,"endTime":1864.41,"body":"also shows the good side of"},{"speaker":"Nischal Shetty","startTime":1864.41,"endTime":1870.62,"body":"crypto. So I think this whole"},{"speaker":"Nischal Shetty","startTime":1864.41,"endTime":1870.62,"body":"inflow of large number of people"},{"speaker":"Nischal Shetty","startTime":1870.62,"endTime":1873.26,"body":"coming into crypto in India,"},{"speaker":"Nischal Shetty","startTime":1870.62,"endTime":1873.26,"body":"that's a very good time for the"},{"speaker":"Nischal Shetty","startTime":1874.28,"endTime":1875.36,"body":"ecosystem out here."},{"speaker":"Matt Zahab","startTime":1875.72,"endTime":1878.3,"body":"Hopefully, your"},{"speaker":"Matt Zahab","startTime":1875.72,"endTime":1878.3,"body":"finance minister is listening to"},{"speaker":"Matt Zahab","startTime":1878.3,"endTime":1880.7,"body":"this podcast, and they can get"},{"speaker":"Matt Zahab","startTime":1878.3,"endTime":1880.7,"body":"you in the team on the board."},{"speaker":"Matt Zahab","startTime":1882.14,"endTime":1886.1,"body":"That would definitely move the"},{"speaker":"Matt Zahab","startTime":1882.14,"endTime":1886.1,"body":"needle. I'd like to stay on this"},{"speaker":"Matt Zahab","startTime":1886.1,"endTime":1888.77,"body":"topic for a little bit longer."},{"speaker":"Matt Zahab","startTime":1886.1,"endTime":1888.77,"body":"It's very interesting. I know"},{"speaker":"Matt Zahab","startTime":1888.77,"endTime":1892.79,"body":"your finance minister also"},{"speaker":"Matt Zahab","startTime":1888.77,"endTime":1892.79,"body":"touched on a potential a digital"},{"speaker":"Matt Zahab","startTime":1892.79,"endTime":1897.86,"body":"rupee following the whole CBDC"},{"speaker":"Matt Zahab","startTime":1892.79,"endTime":1897.86,"body":"trend. Would that be bullish or"},{"speaker":"Matt Zahab","startTime":1897.86,"endTime":1900.8,"body":"bearish for the country? And how"},{"speaker":"Matt Zahab","startTime":1897.86,"endTime":1900.8,"body":"would you see that playing out"},{"speaker":"Matt Zahab","startTime":1900.8,"endTime":1901.4,"body":"long term?"},{"speaker":"Nischal Shetty","startTime":1901.54,"endTime":1905.32,"body":"I see that as a"},{"speaker":"Nischal Shetty","startTime":1901.54,"endTime":1905.32,"body":"really bullish sign because, you"},{"speaker":"Nischal Shetty","startTime":1905.32,"endTime":1909.55,"body":"know, there are a number of"},{"speaker":"Nischal Shetty","startTime":1905.32,"endTime":1909.55,"body":"advantages to India, bringing"},{"speaker":"Nischal Shetty","startTime":1909.55,"endTime":1913.87,"body":"its own central bank digital"},{"speaker":"Nischal Shetty","startTime":1909.55,"endTime":1913.87,"body":"currency, and I think the..."},{"speaker":"Nischal Shetty","startTime":1914.53,"endTime":1917.05,"body":"let's look at what are the"},{"speaker":"Nischal Shetty","startTime":1914.53,"endTime":1917.05,"body":"advantages. I think the first"},{"speaker":"Nischal Shetty","startTime":1917.05,"endTime":1923.65,"body":"advantage is the central bank"},{"speaker":"Nischal Shetty","startTime":1917.05,"endTime":1923.65,"body":"getting deep into crypto. So all"},{"speaker":"Nischal Shetty","startTime":1923.65,"endTime":1927.52,"body":"of the misinformation that we"},{"speaker":"Nischal Shetty","startTime":1923.65,"endTime":1927.52,"body":"are concerned about would get"},{"speaker":"Nischal Shetty","startTime":1927.52,"endTime":1931.06,"body":"automatically eliminated the"},{"speaker":"Nischal Shetty","startTime":1927.52,"endTime":1931.06,"body":"moment they start working on"},{"speaker":"Nischal Shetty","startTime":1931.06,"endTime":1934.9,"body":"this technology. And as they"},{"speaker":"Nischal Shetty","startTime":1931.06,"endTime":1934.9,"body":"start understanding it deeper."},{"speaker":"Nischal Shetty","startTime":1935.74,"endTime":1940.42,"body":"The second is, if we look at"},{"speaker":"Nischal Shetty","startTime":1935.74,"endTime":1940.42,"body":"India, we are a nation which has"},{"speaker":"Nischal Shetty","startTime":1940.45,"endTime":1944.5,"body":"a really sophisticated banking,"},{"speaker":"Nischal Shetty","startTime":1940.45,"endTime":1944.5,"body":"I would say infrastructure, but"},{"speaker":"Nischal Shetty","startTime":1944.5,"endTime":1947.89,"body":"we still have a large number of"},{"speaker":"Nischal Shetty","startTime":1944.5,"endTime":1947.89,"body":"unbanked population. It's about"},{"speaker":"Nischal Shetty","startTime":1947.92,"endTime":1952.03,"body":"200 or 300 million people in"},{"speaker":"Nischal Shetty","startTime":1947.92,"endTime":1952.03,"body":"India, who don't have access to"},{"speaker":"Nischal Shetty","startTime":1952.15,"endTime":1956.17,"body":"traditional banking. Why is"},{"speaker":"Nischal Shetty","startTime":1952.15,"endTime":1956.17,"body":"because the traditional banking"},{"speaker":"Nischal Shetty","startTime":1956.17,"endTime":1962.23,"body":"requires infrastructure to be, I"},{"speaker":"Nischal Shetty","startTime":1956.17,"endTime":1962.23,"body":"would say close to your place of"},{"speaker":"Nischal Shetty","startTime":1962.38,"endTime":1966.43,"body":"wherever you live, and it's hard"},{"speaker":"Nischal Shetty","startTime":1962.38,"endTime":1966.43,"body":"to get banking infrastructure in"},{"speaker":"Nischal Shetty","startTime":1966.46,"endTime":1970.18,"body":"every nook and corner of India,"},{"speaker":"Nischal Shetty","startTime":1966.46,"endTime":1970.18,"body":"every village in India. But you"},{"speaker":"Nischal Shetty","startTime":1970.18,"endTime":1973.21,"body":"have everyone in India, the"},{"speaker":"Nischal Shetty","startTime":1970.18,"endTime":1973.21,"body":"mobile penetration is really"},{"speaker":"Nischal Shetty","startTime":1973.21,"endTime":1976.81,"body":"high, mobile and internet. So"},{"speaker":"Nischal Shetty","startTime":1973.21,"endTime":1976.81,"body":"the moment a central bank,"},{"speaker":"Nischal Shetty","startTime":1976.81,"endTime":1979.36,"body":"digital currency comes, all you"},{"speaker":"Nischal Shetty","startTime":1976.81,"endTime":1979.36,"body":"need is a mobile phone and"},{"speaker":"Nischal Shetty","startTime":1979.36,"endTime":1982.78,"body":"internet to get access and to be"},{"speaker":"Nischal Shetty","startTime":1979.36,"endTime":1982.78,"body":"involved in the digital economy."},{"speaker":"Nischal Shetty","startTime":1983.11,"endTime":1987.88,"body":"So this I see is a great way to"},{"speaker":"Nischal Shetty","startTime":1983.11,"endTime":1987.88,"body":"onboard the 200 to 300 million"},{"speaker":"Nischal Shetty","startTime":1987.91,"endTime":1991.48,"body":"unbanked population in India"},{"speaker":"Nischal Shetty","startTime":1987.91,"endTime":1991.48,"body":"into the old digital economy. It"},{"speaker":"Nischal Shetty","startTime":1991.48,"endTime":1995.14,"body":"will be way faster than waiting"},{"speaker":"Nischal Shetty","startTime":1991.48,"endTime":1995.14,"body":"for banking infrastructures to"},{"speaker":"Nischal Shetty","startTime":1995.14,"endTime":1999.13,"body":"be set up in every village in"},{"speaker":"Nischal Shetty","startTime":1995.14,"endTime":1999.13,"body":"the country. So that's something"},{"speaker":"Nischal Shetty","startTime":1999.13,"endTime":2004.47,"body":"that's very motivating. The"},{"speaker":"Nischal Shetty","startTime":1999.13,"endTime":2004.47,"body":"third aspect is how you can make"},{"speaker":"Nischal Shetty","startTime":2004.71,"endTime":2008.67,"body":"banking even more efficient,"},{"speaker":"Nischal Shetty","startTime":2004.71,"endTime":2008.67,"body":"because today, banks have a"},{"speaker":"Nischal Shetty","startTime":2008.94,"endTime":2013.95,"body":"settlement period that goes"},{"speaker":"Nischal Shetty","startTime":2008.94,"endTime":2013.95,"body":"anywhere from a few hours to a"},{"speaker":"Nischal Shetty","startTime":2013.95,"endTime":2019.29,"body":"one week period, where if you"},{"speaker":"Nischal Shetty","startTime":2013.95,"endTime":2019.29,"body":"were to withdraw money, and for"},{"speaker":"Nischal Shetty","startTime":2019.29,"endTime":2021.87,"body":"whatever reason there's an"},{"speaker":"Nischal Shetty","startTime":2019.29,"endTime":2021.87,"body":"error, it might take a few hours"},{"speaker":"Nischal Shetty","startTime":2021.87,"endTime":2024.54,"body":"to a few days for the banks to"},{"speaker":"Nischal Shetty","startTime":2021.87,"endTime":2024.54,"body":"revert that money. But in"},{"speaker":"Nischal Shetty","startTime":2024.54,"endTime":2027.6,"body":"crypto, the moment that is"},{"speaker":"Nischal Shetty","startTime":2024.54,"endTime":2027.6,"body":"blockchain, your settlement is"},{"speaker":"Nischal Shetty","startTime":2027.6,"endTime":2029.91,"body":"instant. You're either"},{"speaker":"Nischal Shetty","startTime":2027.6,"endTime":2029.91,"body":"transferring the money to the"},{"speaker":"Nischal Shetty","startTime":2029.91,"endTime":2032.64,"body":"other party, or it's in your"},{"speaker":"Nischal Shetty","startTime":2029.91,"endTime":2032.64,"body":"wallet because it's peer to"},{"speaker":"Nischal Shetty","startTime":2032.64,"endTime":2036.15,"body":"peer. So that's something that"},{"speaker":"Nischal Shetty","startTime":2032.64,"endTime":2036.15,"body":"will ensure that there's not a"},{"speaker":"Nischal Shetty","startTime":2036.15,"endTime":2040.56,"body":"lot of money stuck in between"},{"speaker":"Nischal Shetty","startTime":2036.15,"endTime":2040.56,"body":"the banking channels. So I think"},{"speaker":"Nischal Shetty","startTime":2040.59,"endTime":2045.0,"body":"I think overall, I see this as a"},{"speaker":"Nischal Shetty","startTime":2040.59,"endTime":2045.0,"body":"very bullish move, and I believe"},{"speaker":"Nischal Shetty","startTime":2045.0,"endTime":2048.72,"body":"that India should go faster on"},{"speaker":"Nischal Shetty","startTime":2045.0,"endTime":2048.72,"body":"CBDC rather than slow down,"},{"speaker":"Nischal Shetty","startTime":2048.72,"endTime":2051.57,"body":"because this is also the first"},{"speaker":"Nischal Shetty","startTime":2048.72,"endTime":2051.57,"body":"mover opportunity that you get"},{"speaker":"Nischal Shetty","startTime":2051.75,"endTime":2055.38,"body":"as a nation if you, not just"},{"speaker":"Nischal Shetty","startTime":2051.75,"endTime":2055.38,"body":"India, but I think every nation"},{"speaker":"Nischal Shetty","startTime":2055.38,"endTime":2059.07,"body":"should really think deeply do"},{"speaker":"Nischal Shetty","startTime":2055.38,"endTime":2059.07,"body":"CBDCs because this is that"},{"speaker":"Nischal Shetty","startTime":2059.07,"endTime":2063.36,"body":"opportunity to, you know,"},{"speaker":"Nischal Shetty","startTime":2059.07,"endTime":2063.36,"body":"create, I think, immense value"},{"speaker":"Nischal Shetty","startTime":2063.36,"endTime":2067.89,"body":"for not just your local"},{"speaker":"Nischal Shetty","startTime":2063.36,"endTime":2067.89,"body":"population, but also you get a"},{"speaker":"Nischal Shetty","startTime":2068.61,"endTime":2071.46,"body":"second chance at getting your"},{"speaker":"Nischal Shetty","startTime":2068.61,"endTime":2071.46,"body":"currency to be a globally"},{"speaker":"Nischal Shetty","startTime":2071.46,"endTime":2074.94,"body":"accepted currency. Because CBDCs"},{"speaker":"Nischal Shetty","startTime":2071.46,"endTime":2074.94,"body":"just make it easy for anyone in"},{"speaker":"Nischal Shetty","startTime":2074.94,"endTime":2079.02,"body":"the world to get access to your"},{"speaker":"Nischal Shetty","startTime":2074.94,"endTime":2079.02,"body":"token or your currency. And I"},{"speaker":"Nischal Shetty","startTime":2079.02,"endTime":2082.05,"body":"think that's a great opportunity"},{"speaker":"Nischal Shetty","startTime":2079.02,"endTime":2082.05,"body":"for every country to make sure"},{"speaker":"Nischal Shetty","startTime":2082.05,"endTime":2084.54,"body":"their local currencies can now"},{"speaker":"Nischal Shetty","startTime":2082.05,"endTime":2084.54,"body":"have a chance to be global."},{"speaker":"Matt Zahab","startTime":2085.02,"endTime":2086.91,"body":"Interesting. And"},{"speaker":"Matt Zahab","startTime":2085.02,"endTime":2086.91,"body":"Nischal, this has been"},{"speaker":"Matt Zahab","startTime":2086.91,"endTime":2088.98,"body":"incredible. A couple more"},{"speaker":"Matt Zahab","startTime":2086.91,"endTime":2088.98,"body":"questions, if you don't mind"},{"speaker":"Matt Zahab","startTime":2089.01,"endTime":2091.95,"body":"before we wrap up here. I know"},{"speaker":"Matt Zahab","startTime":2089.01,"endTime":2091.95,"body":"you are an extremely busy man."},{"speaker":"Matt Zahab","startTime":2092.25,"endTime":2095.28,"body":"Let's get into a couple of the"},{"speaker":"Matt Zahab","startTime":2092.25,"endTime":2095.28,"body":"shorter slash rapid fire"},{"speaker":"Matt Zahab","startTime":2095.28,"endTime":2099.33,"body":"questions. One thing I'm curious"},{"speaker":"Matt Zahab","startTime":2095.28,"endTime":2099.33,"body":"of the name WazirX. Tell me"},{"speaker":"Matt Zahab","startTime":2099.33,"endTime":2101.19,"body":"about the name. Why did you"},{"speaker":"Matt Zahab","startTime":2099.33,"endTime":2101.19,"body":"choose that?"},{"speaker":"Nischal Shetty","startTime":2103.83,"endTime":2106.98,"body":"I've been, it's"},{"speaker":"Nischal Shetty","startTime":2103.83,"endTime":2106.98,"body":"not like I'm a great player, but"},{"speaker":"Nischal Shetty","startTime":2107.01,"endTime":2111.66,"body":"I've been a big fan of the game"},{"speaker":"Nischal Shetty","startTime":2107.01,"endTime":2111.66,"body":"of chess. And the Queen piece in"},{"speaker":"Nischal Shetty","startTime":2111.66,"endTime":2117.84,"body":"chess is called Wazir in Hindi."},{"speaker":"Nischal Shetty","startTime":2111.66,"endTime":2117.84,"body":"So, you know, and our objective"},{"speaker":"Nischal Shetty","startTime":2117.84,"endTime":2121.89,"body":"was how do we build an amazing"},{"speaker":"Nischal Shetty","startTime":2117.84,"endTime":2121.89,"body":"platform where users can make"},{"speaker":"Nischal Shetty","startTime":2121.89,"endTime":2125.25,"body":"all the right moves. If you look"},{"speaker":"Nischal Shetty","startTime":2121.89,"endTime":2125.25,"body":"at the Queen piece of chess, it"},{"speaker":"Nischal Shetty","startTime":2125.25,"endTime":2127.95,"body":"can make whatever move it wants"},{"speaker":"Nischal Shetty","startTime":2125.25,"endTime":2127.95,"body":"in the on the chessboard, that"},{"speaker":"Nischal Shetty","startTime":2128.28,"endTime":2131.82,"body":"all the moves are allowed for"},{"speaker":"Nischal Shetty","startTime":2128.28,"endTime":2131.82,"body":"the queen piece. So we decided"},{"speaker":"Nischal Shetty","startTime":2131.82,"endTime":2135.99,"body":"that we would name it Wazir and"},{"speaker":"Nischal Shetty","startTime":2131.82,"endTime":2135.99,"body":"X stands for whatever you want,"},{"speaker":"Nischal Shetty","startTime":2136.11,"endTime":2140.16,"body":"you can call it exchange. The"},{"speaker":"Nischal Shetty","startTime":2136.11,"endTime":2140.16,"body":"other day someone said is like,"},{"speaker":"Nischal Shetty","startTime":2140.49,"endTime":2146.19,"body":"you know, crypto is 5x 10x 50x"},{"speaker":"Nischal Shetty","startTime":2140.49,"endTime":2146.19,"body":"100x. And then WazirX. So you"},{"speaker":"Nischal Shetty","startTime":2146.19,"endTime":2149.64,"body":"can consider x as whatever you"},{"speaker":"Nischal Shetty","startTime":2146.19,"endTime":2149.64,"body":"want, but Wazir is the queen"},{"speaker":"Nischal Shetty","startTime":2149.64,"endTime":2151.23,"body":"piece of chess. That's the name"},{"speaker":"Nischal Shetty","startTime":2149.64,"endTime":2151.23,"body":"in Hindi."},{"speaker":"Matt Zahab","startTime":2151.28,"endTime":2155.03,"body":"I absolutely love"},{"speaker":"Matt Zahab","startTime":2151.28,"endTime":2155.03,"body":"that. That is amazing. That's"},{"speaker":"Matt Zahab","startTime":2155.03,"endTime":2157.7,"body":"got to be one of the coolest"},{"speaker":"Matt Zahab","startTime":2155.03,"endTime":2157.7,"body":"little, you know, name innuendos"},{"speaker":"Matt Zahab","startTime":2157.7,"endTime":2161.87,"body":"out there. Well done on that"},{"speaker":"Matt Zahab","startTime":2157.7,"endTime":2161.87,"body":"one. Bitcoin and Ethereum? What"},{"speaker":"Matt Zahab","startTime":2161.87,"endTime":2165.68,"body":"will happen first Bitcoin going"},{"speaker":"Matt Zahab","startTime":2161.87,"endTime":2165.68,"body":"to 100k or Ethereum, hitting 5k?"},{"speaker":"Nischal Shetty","startTime":2166.76,"endTime":2169.76,"body":"So I look, I"},{"speaker":"Nischal Shetty","startTime":2166.76,"endTime":2169.76,"body":"think that's one of the most"},{"speaker":"Nischal Shetty","startTime":2169.76,"endTime":2177.41,"body":"difficult questions to answer."},{"speaker":"Nischal Shetty","startTime":2169.76,"endTime":2177.41,"body":"But I think Bitcoin, if I was to"},{"speaker":"Nischal Shetty","startTime":2177.41,"endTime":2178.07,"body":"answer Bitcoin."},{"speaker":"Matt Zahab","startTime":2178.0,"endTime":2180.73,"body":"Nice Bitcoin going"},{"speaker":"Matt Zahab","startTime":2178.0,"endTime":2180.73,"body":"on a run. Tell me about NFTs."},{"speaker":"Matt Zahab","startTime":2181.03,"endTime":2185.68,"body":"I'd love to know if any of NFTs"},{"speaker":"Matt Zahab","startTime":2181.03,"endTime":2185.68,"body":"are as popular in India as they"},{"speaker":"Matt Zahab","startTime":2185.68,"endTime":2189.52,"body":"are in other places around the"},{"speaker":"Matt Zahab","startTime":2185.68,"endTime":2189.52,"body":"world. I do understand you guys"},{"speaker":"Matt Zahab","startTime":2189.52,"endTime":2193.87,"body":"also, WazirX also just released"},{"speaker":"Matt Zahab","startTime":2189.52,"endTime":2193.87,"body":"a NFT platform. Tell me more"},{"speaker":"Matt Zahab","startTime":2193.87,"endTime":2194.35,"body":"about that."},{"speaker":"Nischal Shetty","startTime":2194.54,"endTime":2197.42,"body":"Sure. I think"},{"speaker":"Nischal Shetty","startTime":2194.54,"endTime":2197.42,"body":"NFTs, in fact, I believe would"},{"speaker":"Nischal Shetty","startTime":2197.42,"endTime":2203.54,"body":"be one of the most popular"},{"speaker":"Nischal Shetty","startTime":2197.42,"endTime":2203.54,"body":"crypto related product in the"},{"speaker":"Nischal Shetty","startTime":2203.54,"endTime":2207.41,"body":"country. And the reason I say"},{"speaker":"Nischal Shetty","startTime":2203.54,"endTime":2207.41,"body":"that is because India has a very"},{"speaker":"Nischal Shetty","startTime":2207.41,"endTime":2211.88,"body":"large creative audience. And"},{"speaker":"Nischal Shetty","startTime":2207.41,"endTime":2211.88,"body":"India has millions of"},{"speaker":"Nischal Shetty","startTime":2211.91,"endTime":2215.63,"body":"influencers. And, you know, big"},{"speaker":"Nischal Shetty","startTime":2211.91,"endTime":2215.63,"body":"and small. YouTubers,"},{"speaker":"Nischal Shetty","startTime":2215.66,"endTime":2222.17,"body":"podcasters, bloggers, musicians,"},{"speaker":"Nischal Shetty","startTime":2215.66,"endTime":2222.17,"body":"a lot of them. And the fact that"},{"speaker":"Nischal Shetty","startTime":2222.17,"endTime":2225.95,"body":"India has so many languages,"},{"speaker":"Nischal Shetty","startTime":2222.17,"endTime":2225.95,"body":"each of them has very unique set"},{"speaker":"Nischal Shetty","startTime":2225.95,"endTime":2230.45,"body":"of audiences. Now, if you look"},{"speaker":"Nischal Shetty","startTime":2225.95,"endTime":2230.45,"body":"at, you know, a bit, a quick bit"},{"speaker":"Nischal Shetty","startTime":2230.48,"endTime":2233.75,"body":"of my history. My first company"},{"speaker":"Nischal Shetty","startTime":2230.48,"endTime":2233.75,"body":"startup that I started was"},{"speaker":"Nischal Shetty","startTime":2233.75,"endTime":2237.02,"body":"called Crowdfire. It was all"},{"speaker":"Nischal Shetty","startTime":2233.75,"endTime":2237.02,"body":"focused on how do we help"},{"speaker":"Nischal Shetty","startTime":2237.29,"endTime":2241.28,"body":"influencers and creators grow on"},{"speaker":"Nischal Shetty","startTime":2237.29,"endTime":2241.28,"body":"social networks. So I have sort"},{"speaker":"Nischal Shetty","startTime":2241.28,"endTime":2246.02,"body":"of a history there. And when I"},{"speaker":"Nischal Shetty","startTime":2241.28,"endTime":2246.02,"body":"saw NFTs, I look at the journey"},{"speaker":"Nischal Shetty","startTime":2246.05,"endTime":2251.9,"body":"of the creative people in the"},{"speaker":"Nischal Shetty","startTime":2246.05,"endTime":2251.9,"body":"world as the first five or 10"},{"speaker":"Nischal Shetty","startTime":2251.9,"endTime":2255.17,"body":"years of the social networks was"},{"speaker":"Nischal Shetty","startTime":2251.9,"endTime":2255.17,"body":"where you built out your"},{"speaker":"Nischal Shetty","startTime":2255.77,"endTime":2260.21,"body":"followership, your ecosystem."},{"speaker":"Nischal Shetty","startTime":2255.77,"endTime":2260.21,"body":"And now is that opportunity for"},{"speaker":"Nischal Shetty","startTime":2260.21,"endTime":2263.39,"body":"you to monetize that, and in"},{"speaker":"Nischal Shetty","startTime":2260.21,"endTime":2263.39,"body":"between, we had these"},{"speaker":"Nischal Shetty","startTime":2263.78,"endTime":2268.55,"body":"sponsorships and maybe ads as a"},{"speaker":"Nischal Shetty","startTime":2263.78,"endTime":2268.55,"body":"monetization. But I think NFT"},{"speaker":"Nischal Shetty","startTime":2268.64,"endTime":2272.42,"body":"provides a true monetization for"},{"speaker":"Nischal Shetty","startTime":2268.64,"endTime":2272.42,"body":"all of the influencers, not just"},{"speaker":"Nischal Shetty","startTime":2272.42,"endTime":2275.96,"body":"in India, but around the world,"},{"speaker":"Nischal Shetty","startTime":2272.42,"endTime":2275.96,"body":"which is you interact directly"},{"speaker":"Nischal Shetty","startTime":2275.96,"endTime":2280.37,"body":"with your fans, you give them"},{"speaker":"Nischal Shetty","startTime":2275.96,"endTime":2280.37,"body":"something, why they follow, you"},{"speaker":"Nischal Shetty","startTime":2280.46,"endTime":2284.54,"body":"know. For example, you make a"},{"speaker":"Nischal Shetty","startTime":2280.46,"endTime":2284.54,"body":"short clip out of these podcasts"},{"speaker":"Nischal Shetty","startTime":2284.54,"endTime":2287.9,"body":"that you make, and true fans of"},{"speaker":"Nischal Shetty","startTime":2284.54,"endTime":2287.9,"body":"your podcast are going to buy"},{"speaker":"Nischal Shetty","startTime":2287.9,"endTime":2291.68,"body":"them out as an NFT someday. And"},{"speaker":"Nischal Shetty","startTime":2287.9,"endTime":2291.68,"body":"that's direct monetization for"},{"speaker":"Nischal Shetty","startTime":2291.68,"endTime":2294.71,"body":"you. The other thing is, there"},{"speaker":"Nischal Shetty","startTime":2291.68,"endTime":2294.71,"body":"are always influencers who might"},{"speaker":"Nischal Shetty","startTime":2294.71,"endTime":2298.94,"body":"not have millions of followers,"},{"speaker":"Nischal Shetty","startTime":2294.71,"endTime":2298.94,"body":"but they might have 1000, really"},{"speaker":"Nischal Shetty","startTime":2299.69,"endTime":2303.62,"body":"core followers who believe in"},{"speaker":"Nischal Shetty","startTime":2299.69,"endTime":2303.62,"body":"what they create. So even these"},{"speaker":"Nischal Shetty","startTime":2303.62,"endTime":2306.11,"body":"people can buy them and you can"},{"speaker":"Nischal Shetty","startTime":2303.62,"endTime":2306.11,"body":"monetize. You don't have to wait"},{"speaker":"Nischal Shetty","startTime":2306.11,"endTime":2309.17,"body":"for a million people to follow"},{"speaker":"Nischal Shetty","startTime":2306.11,"endTime":2309.17,"body":"you or to hear you to make money"},{"speaker":"Nischal Shetty","startTime":2309.17,"endTime":2311.81,"body":"eventually, because that's how"},{"speaker":"Nischal Shetty","startTime":2309.17,"endTime":2311.81,"body":"the world is today. So I think"},{"speaker":"Nischal Shetty","startTime":2311.84,"endTime":2315.77,"body":"I'm a big believer of NFTs. And"},{"speaker":"Nischal Shetty","startTime":2311.84,"endTime":2315.77,"body":"I believe that they will take"},{"speaker":"Nischal Shetty","startTime":2315.77,"endTime":2319.49,"body":"off in a very good way in India."},{"speaker":"Nischal Shetty","startTime":2315.77,"endTime":2319.49,"body":"To add to that, I think one"},{"speaker":"Nischal Shetty","startTime":2319.49,"endTime":2322.22,"body":"perspective we need to hear is,"},{"speaker":"Nischal Shetty","startTime":2319.49,"endTime":2322.22,"body":"if you look at the crypto"},{"speaker":"Nischal Shetty","startTime":2322.25,"endTime":2326.75,"body":"ecosystem, crypto tokens were in"},{"speaker":"Nischal Shetty","startTime":2322.25,"endTime":2326.75,"body":"the domain of startups and"},{"speaker":"Nischal Shetty","startTime":2326.75,"endTime":2331.52,"body":"companies and people who are"},{"speaker":"Nischal Shetty","startTime":2326.75,"endTime":2331.52,"body":"technically savvy. NFTs, on the"},{"speaker":"Nischal Shetty","startTime":2331.52,"endTime":2335.54,"body":"other hand, are something that"},{"speaker":"Nischal Shetty","startTime":2331.52,"endTime":2335.54,"body":"is for anyone who's creative."},{"speaker":"Nischal Shetty","startTime":2335.6,"endTime":2340.31,"body":"You don't need to be a startup"},{"speaker":"Nischal Shetty","startTime":2335.6,"endTime":2340.31,"body":"or a tech guy to create an NFT"},{"speaker":"Nischal Shetty","startTime":2340.49,"endTime":2343.25,"body":"and sell it. You need to be a"},{"speaker":"Nischal Shetty","startTime":2340.49,"endTime":2343.25,"body":"creative individual, and"},{"speaker":"Nischal Shetty","startTime":2343.25,"endTime":2346.7,"body":"creativity exists in a lot of"},{"speaker":"Nischal Shetty","startTime":2343.25,"endTime":2346.7,"body":"people. So I see this as like"},{"speaker":"Nischal Shetty","startTime":2346.7,"endTime":2349.73,"body":"that, you know, the blogger"},{"speaker":"Nischal Shetty","startTime":2346.7,"endTime":2349.73,"body":"movement on the web on the"},{"speaker":"Nischal Shetty","startTime":2349.73,"endTime":2352.73,"body":"internet, where the moment"},{"speaker":"Nischal Shetty","startTime":2349.73,"endTime":2352.73,"body":"blogger came in, and WordPress"},{"speaker":"Nischal Shetty","startTime":2352.73,"endTime":2355.94,"body":"came in, everyone had a blog,"},{"speaker":"Nischal Shetty","startTime":2352.73,"endTime":2355.94,"body":"and there were no restrictions."},{"speaker":"Nischal Shetty","startTime":2355.97,"endTime":2358.91,"body":"And you didn't have to be a"},{"speaker":"Nischal Shetty","startTime":2355.97,"endTime":2358.91,"body":"company or a startup to have"},{"speaker":"Nischal Shetty","startTime":2358.91,"endTime":2362.09,"body":"your own website. Everyone had a"},{"speaker":"Nischal Shetty","startTime":2358.91,"endTime":2362.09,"body":"website. So I see the same thing"},{"speaker":"Nischal Shetty","startTime":2362.09,"endTime":2366.68,"body":"happening to NFTs. And NFTs"},{"speaker":"Nischal Shetty","startTime":2362.09,"endTime":2366.68,"body":"would probably be that, you"},{"speaker":"Nischal Shetty","startTime":2366.68,"endTime":2369.89,"body":"know, thing in crypto where"},{"speaker":"Nischal Shetty","startTime":2366.68,"endTime":2369.89,"body":"there is mass adoption from a"},{"speaker":"Nischal Shetty","startTime":2369.89,"endTime":2373.22,"body":"creator point of view, not just"},{"speaker":"Nischal Shetty","startTime":2369.89,"endTime":2373.22,"body":"from the consumers point. So"},{"speaker":"Nischal Shetty","startTime":2373.22,"endTime":2379.19,"body":"it's very exciting. I was just"},{"speaker":"Nischal Shetty","startTime":2373.22,"endTime":2379.19,"body":"talking to  from the part of"},{"speaker":"Nischal Shetty","startTime":2379.19,"endTime":2383.27,"body":"Metaverse where they met up or"},{"speaker":"Nischal Shetty","startTime":2379.19,"endTime":2383.27,"body":"where they bought, the people"},{"speaker":"Nischal Shetty","startTime":2383.27,"endTime":2387.95,"body":"are. And they have a similar"},{"speaker":"Nischal Shetty","startTime":2383.27,"endTime":2387.95,"body":"thesis that NFTs are going to be"},{"speaker":"Nischal Shetty","startTime":2387.98,"endTime":2390.74,"body":"something that will bring a lot"},{"speaker":"Nischal Shetty","startTime":2387.98,"endTime":2390.74,"body":"of creators into the crypto"},{"speaker":"Nischal Shetty","startTime":2390.74,"endTime":2393.2,"body":"ecosystem. So it's very exciting"},{"speaker":"Nischal Shetty","startTime":2390.74,"endTime":2393.2,"body":"times."},{"speaker":"Matt Zahab","startTime":2393.51,"endTime":2396.21,"body":"Absolutely love"},{"speaker":"Matt Zahab","startTime":2393.51,"endTime":2396.21,"body":"that. You touched on Crowdfire"},{"speaker":"Matt Zahab","startTime":2396.21,"endTime":2399.18,"body":"which was, I believe your first"},{"speaker":"Matt Zahab","startTime":2396.21,"endTime":2399.18,"body":"startup. To my knowledge you're"},{"speaker":"Matt Zahab","startTime":2399.18,"endTime":2402.27,"body":"two for two, not a bad track"},{"speaker":"Matt Zahab","startTime":2399.18,"endTime":2402.27,"body":"record. That'll get you in the"},{"speaker":"Matt Zahab","startTime":2402.27,"endTime":2406.71,"body":"Hall of Fame in every single"},{"speaker":"Matt Zahab","startTime":2402.27,"endTime":2406.71,"body":"sport. Tell me, what's the"},{"speaker":"Matt Zahab","startTime":2406.71,"endTime":2410.01,"body":"secret sauce of making a startup"},{"speaker":"Matt Zahab","startTime":2406.71,"endTime":2410.01,"body":"go to the moon? You're two for"},{"speaker":"Matt Zahab","startTime":2410.01,"endTime":2412.14,"body":"two, you obviously know what"},{"speaker":"Matt Zahab","startTime":2410.01,"endTime":2412.14,"body":"you're doing. What's the secret"},{"speaker":"Matt Zahab","startTime":2412.14,"endTime":2412.65,"body":"sauce there?"},{"speaker":"Nischal Shetty","startTime":2416.2,"endTime":2419.02,"body":"Honestly, I"},{"speaker":"Nischal Shetty","startTime":2416.2,"endTime":2419.02,"body":"think there's no secret sauce."},{"speaker":"Nischal Shetty","startTime":2419.53,"endTime":2422.98,"body":"But if I was to choose one, I"},{"speaker":"Nischal Shetty","startTime":2419.53,"endTime":2422.98,"body":"would say it's persistence. You"},{"speaker":"Nischal Shetty","startTime":2422.98,"endTime":2427.33,"body":"know, persistence and mission."},{"speaker":"Nischal Shetty","startTime":2422.98,"endTime":2427.33,"body":"If you know what you want to"},{"speaker":"Nischal Shetty","startTime":2427.33,"endTime":2432.1,"body":"achieve and if you set on that"},{"speaker":"Nischal Shetty","startTime":2427.33,"endTime":2432.1,"body":"path, and focus on that, I think"},{"speaker":"Nischal Shetty","startTime":2432.1,"endTime":2437.5,"body":"you can achieve it. I could"},{"speaker":"Nischal Shetty","startTime":2432.1,"endTime":2437.5,"body":"always go deeper into execution."},{"speaker":"Nischal Shetty","startTime":2437.5,"endTime":2440.89,"body":"For example, I'll tell you, some"},{"speaker":"Nischal Shetty","startTime":2437.5,"endTime":2440.89,"body":"of the things I see being done"},{"speaker":"Nischal Shetty","startTime":2440.89,"endTime":2446.23,"body":"wrong is people think that focus"},{"speaker":"Nischal Shetty","startTime":2440.89,"endTime":2446.23,"body":"means just doing one thing. But"},{"speaker":"Nischal Shetty","startTime":2446.23,"endTime":2450.28,"body":"that's not right. Think of this"},{"speaker":"Nischal Shetty","startTime":2446.23,"endTime":2450.28,"body":"as if you were to have a healthy"},{"speaker":"Nischal Shetty","startTime":2450.28,"endTime":2453.64,"body":"body. And if you were to work"},{"speaker":"Nischal Shetty","startTime":2450.28,"endTime":2453.64,"body":"out, would you just work on only"},{"speaker":"Nischal Shetty","startTime":2453.64,"endTime":2456.16,"body":"your arms? Or would you work on"},{"speaker":"Nischal Shetty","startTime":2453.64,"endTime":2456.16,"body":"all parts of your body? You"},{"speaker":"Nischal Shetty","startTime":2456.16,"endTime":2460.15,"body":"would ideally want to work on"},{"speaker":"Nischal Shetty","startTime":2456.16,"endTime":2460.15,"body":"all parts of your body. And that"},{"speaker":"Nischal Shetty","startTime":2460.15,"endTime":2463.54,"body":"is the same when you build a"},{"speaker":"Nischal Shetty","startTime":2460.15,"endTime":2463.54,"body":"startup or a product. Don't"},{"speaker":"Nischal Shetty","startTime":2463.54,"endTime":2466.39,"body":"focus only on one thing, because"},{"speaker":"Nischal Shetty","startTime":2463.54,"endTime":2466.39,"body":"I see a lot of people just"},{"speaker":"Nischal Shetty","startTime":2466.39,"endTime":2468.64,"body":"focusing on \"Oh, I want to build"},{"speaker":"Nischal Shetty","startTime":2466.39,"endTime":2468.64,"body":"the best product, let me build"},{"speaker":"Nischal Shetty","startTime":2468.64,"endTime":2471.19,"body":"the best product\". But you"},{"speaker":"Nischal Shetty","startTime":2468.64,"endTime":2471.19,"body":"forgot marketing, you forgot"},{"speaker":"Nischal Shetty","startTime":2471.19,"endTime":2475.09,"body":"sales, you forgot customer"},{"speaker":"Nischal Shetty","startTime":2471.19,"endTime":2475.09,"body":"support, and what that leads to"},{"speaker":"Nischal Shetty","startTime":2475.15,"endTime":2479.65,"body":"is not the fully formed body,"},{"speaker":"Nischal Shetty","startTime":2475.15,"endTime":2479.65,"body":"but something that's"},{"speaker":"Nischal Shetty","startTime":2479.71,"endTime":2484.72,"body":"malnutritioned in some parts. So"},{"speaker":"Nischal Shetty","startTime":2479.71,"endTime":2484.72,"body":"I think understanding that focus"},{"speaker":"Nischal Shetty","startTime":2484.75,"endTime":2488.38,"body":"does not mean letting go of the"},{"speaker":"Nischal Shetty","startTime":2484.75,"endTime":2488.38,"body":"other essential parts of your"},{"speaker":"Nischal Shetty","startTime":2488.38,"endTime":2491.2,"body":"startup. I think that's very,"},{"speaker":"Nischal Shetty","startTime":2488.38,"endTime":2491.2,"body":"very important. It came a bit"},{"speaker":"Nischal Shetty","startTime":2491.2,"endTime":2496.3,"body":"late to me. But if I was to tell"},{"speaker":"Nischal Shetty","startTime":2491.2,"endTime":2496.3,"body":"everyone, he said, build an all"},{"speaker":"Nischal Shetty","startTime":2496.3,"endTime":2499.78,"body":"round approach from day one."},{"speaker":"Nischal Shetty","startTime":2496.3,"endTime":2499.78,"body":"Don't say that I'll build the"},{"speaker":"Nischal Shetty","startTime":2499.78,"endTime":2502.63,"body":"product, then I'll market it,"},{"speaker":"Nischal Shetty","startTime":2499.78,"endTime":2502.63,"body":"then I'll do some sales. Do it"},{"speaker":"Nischal Shetty","startTime":2502.63,"endTime":2505.45,"body":"all together, find the right"},{"speaker":"Nischal Shetty","startTime":2502.63,"endTime":2505.45,"body":"people. If you can't do it"},{"speaker":"Nischal Shetty","startTime":2505.45,"endTime":2508.45,"body":"alone, and most times you can't"},{"speaker":"Nischal Shetty","startTime":2505.45,"endTime":2508.45,"body":"find people who are good at it."},{"speaker":"Nischal Shetty","startTime":2508.66,"endTime":2511.39,"body":"You focus on your part, the"},{"speaker":"Nischal Shetty","startTime":2508.66,"endTime":2511.39,"body":"others can focus on their"},{"speaker":"Nischal Shetty","startTime":2511.48,"endTime":2513.97,"body":"strengths. And together you can"},{"speaker":"Nischal Shetty","startTime":2511.48,"endTime":2513.97,"body":"build the right startup."},{"speaker":"Matt Zahab","startTime":2513.97,"endTime":2516.91,"body":"I love that. I just"},{"speaker":"Matt Zahab","startTime":2513.97,"endTime":2516.91,"body":"to paraphrase what you just said"},{"speaker":"Matt Zahab","startTime":2516.91,"endTime":2520.69,"body":"you could use the analogy of not"},{"speaker":"Matt Zahab","startTime":2516.91,"endTime":2520.69,"body":"skipping leg day. I would say"},{"speaker":"Matt Zahab","startTime":2521.59,"endTime":2525.1,"body":"don't skip leg day. That's a new"},{"speaker":"Matt Zahab","startTime":2521.59,"endTime":2525.1,"body":"slogan. You can you can slide me"},{"speaker":"Matt Zahab","startTime":2525.1,"endTime":2529.9,"body":"a couple of Bitcoin for that"},{"speaker":"Matt Zahab","startTime":2525.1,"endTime":2529.9,"body":"one. Last question. Any hot"},{"speaker":"Matt Zahab","startTime":2529.9,"endTime":2532.48,"body":"takes within the industry,"},{"speaker":"Matt Zahab","startTime":2529.9,"endTime":2532.48,"body":"within the crypto industry that"},{"speaker":"Matt Zahab","startTime":2532.48,"endTime":2535.84,"body":"is? Are there any areas or"},{"speaker":"Matt Zahab","startTime":2532.48,"endTime":2535.84,"body":"sectors or products that you"},{"speaker":"Matt Zahab","startTime":2535.84,"endTime":2540.4,"body":"think are extremely undervalued"},{"speaker":"Matt Zahab","startTime":2535.84,"endTime":2540.4,"body":"that will pop off in the near"},{"speaker":"Matt Zahab","startTime":2540.4,"endTime":2540.85,"body":"future?"},{"speaker":"Nischal Shetty","startTime":2542.13,"endTime":2545.04,"body":"If this is a"},{"speaker":"Nischal Shetty","startTime":2542.13,"endTime":2545.04,"body":"part where I can shill something"},{"speaker":"Nischal Shetty","startTime":2545.04,"endTime":2550.95,"body":"that I'm related to? So if"},{"speaker":"Nischal Shetty","startTime":2545.04,"endTime":2550.95,"body":"that's okay, so let me tell you"},{"speaker":"Nischal Shetty","startTime":2551.07,"endTime":2553.65,"body":"know, I truly believe in these"},{"speaker":"Nischal Shetty","startTime":2551.07,"endTime":2553.65,"body":"guys. They are building a"},{"speaker":"Nischal Shetty","startTime":2553.95,"endTime":2558.45,"body":"decentralized notification on"},{"speaker":"Nischal Shetty","startTime":2553.95,"endTime":2558.45,"body":"top of Ethereum. And I believe"},{"speaker":"Nischal Shetty","startTime":2558.45,"endTime":2562.17,"body":"that if you look at the whole"},{"speaker":"Nischal Shetty","startTime":2558.45,"endTime":2562.17,"body":"infrastructure that has been"},{"speaker":"Nischal Shetty","startTime":2562.2,"endTime":2566.28,"body":"built on top of Ethereum, I"},{"speaker":"Nischal Shetty","startTime":2562.2,"endTime":2566.28,"body":"think notifications, truly"},{"speaker":"Nischal Shetty","startTime":2566.28,"endTime":2569.7,"body":"decentralized notification"},{"speaker":"Nischal Shetty","startTime":2566.28,"endTime":2569.7,"body":"protocols don't exist. And it's"},{"speaker":"Nischal Shetty","startTime":2569.7,"endTime":2574.02,"body":"probably because also there's a"},{"speaker":"Nischal Shetty","startTime":2569.7,"endTime":2574.02,"body":"cost involved today. But I think"},{"speaker":"Nischal Shetty","startTime":2574.14,"endTime":2578.1,"body":"when Ethereum, the 2.0 comes in"},{"speaker":"Nischal Shetty","startTime":2574.14,"endTime":2578.1,"body":"where transactions are made"},{"speaker":"Nischal Shetty","startTime":2578.1,"endTime":2583.56,"body":"really cheap and you can just do"},{"speaker":"Nischal Shetty","startTime":2578.1,"endTime":2583.56,"body":"it quickly. I think that's where"},{"speaker":"Nischal Shetty","startTime":2583.59,"endTime":2586.92,"body":"products like these, this is"},{"speaker":"Nischal Shetty","startTime":2583.59,"endTime":2586.92,"body":"called EPNS - Ethereum Push"},{"speaker":"Nischal Shetty","startTime":2586.92,"endTime":2590.22,"body":"Notification Service. So"},{"speaker":"Nischal Shetty","startTime":2586.92,"endTime":2590.22,"body":"protocols like these will"},{"speaker":"Nischal Shetty","startTime":2590.22,"endTime":2593.85,"body":"emerge. So I'm a big proponent"},{"speaker":"Nischal Shetty","startTime":2590.22,"endTime":2593.85,"body":"of looking at projects that are"},{"speaker":"Nischal Shetty","startTime":2593.85,"endTime":2599.1,"body":"going to be on top of Ethereum"},{"speaker":"Nischal Shetty","startTime":2593.85,"endTime":2599.1,"body":"2.0. And I think now is probably"},{"speaker":"Nischal Shetty","startTime":2599.1,"endTime":2601.71,"body":"the right time to identify such"},{"speaker":"Nischal Shetty","startTime":2599.1,"endTime":2601.71,"body":"protocols."},{"speaker":"Matt Zahab","startTime":2601.75,"endTime":2604.27,"body":"Incredible. I'm"},{"speaker":"Matt Zahab","startTime":2601.75,"endTime":2604.27,"body":"definitely going to take a deep"},{"speaker":"Matt Zahab","startTime":2604.27,"endTime":2607.27,"body":"dive into that. Nischal, this"},{"speaker":"Matt Zahab","startTime":2604.27,"endTime":2607.27,"body":"has been absolutely incredible."},{"speaker":"Matt Zahab","startTime":2608.17,"endTime":2610.75,"body":"Thank you so much for coming on."},{"speaker":"Matt Zahab","startTime":2608.17,"endTime":2610.75,"body":"Before we let you go, can you"},{"speaker":"Matt Zahab","startTime":2610.75,"endTime":2615.22,"body":"please tell our guests where"},{"speaker":"Matt Zahab","startTime":2610.75,"endTime":2615.22,"body":"they can find you? And WazirX on"},{"speaker":"Matt Zahab","startTime":2615.25,"endTime":2615.88,"body":"socials?"},{"speaker":"Nischal Shetty","startTime":2616.23,"endTime":2619.32,"body":"Sure I'm on"},{"speaker":"Nischal Shetty","startTime":2616.23,"endTime":2619.32,"body":"Twitter. Nischal Shetty is my"},{"speaker":"Nischal Shetty","startTime":2619.35,"endTime":2625.2,"body":"handle. And WazirX is also on"},{"speaker":"Nischal Shetty","startTime":2619.35,"endTime":2625.2,"body":"Twitter. It's WazirX India. So I"},{"speaker":"Nischal Shetty","startTime":2625.2,"endTime":2630.18,"body":"am very active on Twitter. You"},{"speaker":"Nischal Shetty","startTime":2625.2,"endTime":2630.18,"body":"can just reply to me if I am"},{"speaker":"Nischal Shetty","startTime":2630.18,"endTime":2632.94,"body":"whenever I'm active, I try to"},{"speaker":"Nischal Shetty","startTime":2630.18,"endTime":2632.94,"body":"reply, though I get a ton of"},{"speaker":"Nischal Shetty","startTime":2632.94,"endTime":2637.38,"body":"replies these days due to the"},{"speaker":"Nischal Shetty","startTime":2632.94,"endTime":2637.38,"body":"whole, I would say massive"},{"speaker":"Nischal Shetty","startTime":2637.38,"endTime":2641.43,"body":"audience coming into crypto, but"},{"speaker":"Nischal Shetty","startTime":2637.38,"endTime":2641.43,"body":"I try my best to respond."},{"speaker":"Matt Zahab","startTime":2641.81,"endTime":2643.46,"body":"Nischal, thanks"},{"speaker":"Matt Zahab","startTime":2641.81,"endTime":2643.46,"body":"again. This has been absolutely"},{"speaker":"Matt Zahab","startTime":2643.46,"endTime":2646.94,"body":"incredible. I learned so much"},{"speaker":"Matt Zahab","startTime":2643.46,"endTime":2646.94,"body":"this podcast, and I just had an"},{"speaker":"Matt Zahab","startTime":2646.94,"endTime":2649.19,"body":"absolute blast speaking with"},{"speaker":"Matt Zahab","startTime":2646.94,"endTime":2649.19,"body":"you. I've had so much fun over"},{"speaker":"Matt Zahab","startTime":2649.19,"endTime":2653.12,"body":"the last, you know, 45 minutes"},{"speaker":"Matt Zahab","startTime":2649.19,"endTime":2653.12,"body":"or so. I'm going to need you"},{"speaker":"Matt Zahab","startTime":2653.15,"endTime":2656.42,"body":"100% to come on for a round two"},{"speaker":"Matt Zahab","startTime":2653.15,"endTime":2656.42,"body":"especially with how quickly the"},{"speaker":"Matt Zahab","startTime":2656.42,"endTime":2659.87,"body":"space is moving in your"},{"speaker":"Matt Zahab","startTime":2656.42,"endTime":2659.87,"body":"beautiful country of India. This"},{"speaker":"Matt Zahab","startTime":2659.87,"endTime":2662.42,"body":"has been incredible. And on"},{"speaker":"Matt Zahab","startTime":2659.87,"endTime":2662.42,"body":"behalf of you know the whole"},{"speaker":"Matt Zahab","startTime":2662.42,"endTime":2666.35,"body":"community I just want to thank"},{"speaker":"Matt Zahab","startTime":2662.42,"endTime":2666.35,"body":"you for really being a mogul and"},{"speaker":"Matt Zahab","startTime":2666.38,"endTime":2669.71,"body":"educating investors about"},{"speaker":"Matt Zahab","startTime":2666.38,"endTime":2669.71,"body":"cryptocurrency. I know, that's"},{"speaker":"Matt Zahab","startTime":2669.71,"endTime":2672.74,"body":"part of the reason why you join"},{"speaker":"Matt Zahab","startTime":2669.71,"endTime":2672.74,"body":"podcasts like ours, we"},{"speaker":"Matt Zahab","startTime":2672.74,"endTime":2675.98,"body":"appreciate that why you speak"},{"speaker":"Matt Zahab","startTime":2672.74,"endTime":2675.98,"body":"out often why you write blogs,"},{"speaker":"Matt Zahab","startTime":2676.19,"endTime":2679.67,"body":"you know, speak at panels, and"},{"speaker":"Matt Zahab","startTime":2676.19,"endTime":2679.67,"body":"do all those types of things."},{"speaker":"Matt Zahab","startTime":2679.67,"endTime":2682.82,"body":"And that is just to spread"},{"speaker":"Matt Zahab","startTime":2679.67,"endTime":2682.82,"body":"awareness and to show people the"},{"speaker":"Matt Zahab","startTime":2682.82,"endTime":2686.99,"body":"benefits and the power of"},{"speaker":"Matt Zahab","startTime":2682.82,"endTime":2686.99,"body":"crypto. So thank you for that."},{"speaker":"Matt Zahab","startTime":2687.8,"endTime":2689.51,"body":"Nischal, this has been"},{"speaker":"Matt Zahab","startTime":2687.8,"endTime":2689.51,"body":"incredible. Thanks, man."},{"speaker":"Matt Zahab","startTime":2689.51,"endTime":2690.08,"body":"Appreciate it."},{"speaker":"Nischal Shetty","startTime":2690.29,"endTime":2692.66,"body":"Thanks Matt. And"},{"speaker":"Nischal Shetty","startTime":2690.29,"endTime":2692.66,"body":"thanks a lot for inviting me. It"},{"speaker":"Nischal Shetty","startTime":2692.66,"endTime":2696.74,"body":"was fun, you know, having this"},{"speaker":"Nischal Shetty","startTime":2692.66,"endTime":2696.74,"body":"whole discussion. And I think"},{"speaker":"Nischal Shetty","startTime":2697.01,"endTime":2700.52,"body":"discussions like these are very"},{"speaker":"Nischal Shetty","startTime":2697.01,"endTime":2700.52,"body":"important so that we can spread"},{"speaker":"Nischal Shetty","startTime":2700.52,"endTime":2703.37,"body":"the right information about"},{"speaker":"Nischal Shetty","startTime":2700.52,"endTime":2703.37,"body":"crypto and what's happening"},{"speaker":"Nischal Shetty","startTime":2703.4,"endTime":2703.97,"body":"around the world."},{"speaker":"Matt Zahab","startTime":2703.66,"endTime":2706.3,"body":"Amazing. Thanks"},{"speaker":"Matt Zahab","startTime":2703.66,"endTime":2706.3,"body":"again. Folks before we let you"},{"speaker":"Matt Zahab","startTime":2706.3,"endTime":2710.11,"body":"go, if you enjoyed this episode"},{"speaker":"Matt Zahab","startTime":2706.3,"endTime":2710.11,"body":"and we hope you did, please give"},{"speaker":"Matt Zahab","startTime":2710.11,"endTime":2714.55,"body":"us a subscribe. You can find us"},{"speaker":"Matt Zahab","startTime":2710.11,"endTime":2714.55,"body":"on all major podcast players. We"},{"speaker":"Matt Zahab","startTime":2714.55,"endTime":2718.27,"body":"are the crypto news podcast. You"},{"speaker":"Matt Zahab","startTime":2714.55,"endTime":2718.27,"body":"can find us on cryptonews.com."},{"speaker":"Matt Zahab","startTime":2718.81,"endTime":2722.11,"body":"Same handle on pretty much all"},{"speaker":"Matt Zahab","startTime":2718.81,"endTime":2722.11,"body":"socials and just want to give a"},{"speaker":"Matt Zahab","startTime":2722.11,"endTime":2724.75,"body":"huge shout out to the whole"},{"speaker":"Matt Zahab","startTime":2722.11,"endTime":2724.75,"body":"team, couldn't do this without"},{"speaker":"Matt Zahab","startTime":2724.75,"endTime":2728.77,"body":"you guys, thank you so much."},{"speaker":"Matt Zahab","startTime":2724.75,"endTime":2728.77,"body":"love you to death and a special"},{"speaker":"Matt Zahab","startTime":2728.77,"endTime":2733.66,"body":"thanks to Justace our sound guru"},{"speaker":"Matt Zahab","startTime":2728.77,"endTime":2733.66,"body":"without him I'd be absolutely"},{"speaker":"Matt Zahab","startTime":2733.66,"endTime":2736.24,"body":"toast so Justace you're the man."},{"speaker":"Matt Zahab","startTime":2733.66,"endTime":2736.24,"body":"The whole team, you guys are the"},{"speaker":"Matt Zahab","startTime":2736.24,"endTime":2738.85,"body":"best, love you thank you. And"},{"speaker":"Matt Zahab","startTime":2736.24,"endTime":2738.85,"body":"Nischal, thanks again, this was"},{"speaker":"Matt Zahab","startTime":2738.85,"endTime":2741.34,"body":"treat. Folks we are the Cry"},{"speaker":"Matt Zahab","startTime":2738.85,"endTime":2741.34,"body":"tonews podcast. Hope you had"},{"speaker":"Matt Zahab","startTime":2741.34,"endTime":2743.95,"body":"a blast and we will see you in"},{"speaker":"Matt Zahab","startTime":2741.34,"endTime":2743.95,"body":"a couple days. Have a great da"}]}