“The market value of startups plus IPR in India is estimated to be around $100 billion,” he added.
He also said that the future of finance will be a concept that he and some people call “Good Internet“.
According to Nilekani, the architect of the Aadhar project, who also played a pivotal role in developing UPI, Finternet will be user-centric and unified, meaning it will cover all types of assets and have a universal infrastructure.
Financial systems They cannot meet the demand of users who want more options and more control, he said.
All assets including land, property, bonds, financial investments, art, paintings, etc. will be brought together under a single infrastructure and tokenized, he said.
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“It allows everyone to participate and control all assets. We want to have something that allows everyone to participate and control all types of assets: user-controlled assets, user content, NFTs (non-fungible tokens), tight assets that are certified by someone, registered assets like land or regulated assets like financial products,” he said.
Nilekani said he has written a paper on FINTERNET” with Pramod Varma, Siddharth Shetty and AgustÃn Carstens and the BIS (Bank for International Settlements) team in April 2024.
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