His comments come as India prepares to introduce a new bill in parliament to regulate the crypto sector.
Blockchain and DeFi, or decentralized fiance, will level the playing field in finance, Indian billionaire businessman Mukesh Ambani said at the Infinity Forum this week.
«Today it still is a world where large companies get easier finance and small companies don’t get easier finance, and the same thing with people, and I think that will change,» Ambani said.
«Great Democratizer»
The chairman of Reliance Indistries, a conglomerate that includes energy, petrochemicals, natural gas, retail, telecommunications and mass media businesses, said that blockchain-powered digital finance could help the country’s massive inequality.
«The new oil, data, can be generated and consumed everywhere and by everybody. It has the potential to create value equitably across sectors, geographies, and economic classes,» Ambani said.
Metaverse Reality
Ambani also said he thinks the metaverse will unlock a new decade of «tremendous value creation,» where «ideas and innovations will become more valuable,» as opposed to physical capital.
Mukesh Ambani on Virtual world (metaverse) pic.twitter.com/zT6R4wNXuQ
— CryptoHub India ?? (@CryptoHubIND) December 5, 2021