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Amit Lakhanpal: the man & brain behind the only ‘owned cryptocurrency’ in the world

(3/3) The hullabaloo around cryptocurrencies has drowned out all other noise in the tech sector. With even the budget of 2018 talking about blockchain technology, it is expected that our government would, by the end of the year, lay the groundwork to regulate the market. Experts predict that end of 2018 will see the establishment of a policy framework as concerned to cryptocurrencies.

With this in mind, it behoves to take a closer look at the man and the brains behind the only cryptocurrency in the digital world to be an ‘owned cryptocurrency’ – Dr. Amit M. Lakhanpal. The man known as “the big bull of cryptocurrency” started Money Trade Coin as an equivalent of Bitcoin. But unlike the most commonly known cryptocurrency, Money Trade Coin is a registered algorithm. Unique in this feature, the new-age cryptocurrency started by Dr. Lakhanpal is emerging as a leader in the cryptospace.

The digital –currency is the intellectual property of Money Trade Coin UK Ltd and Bitcoin Global FZE, UAE. Under the aegis of Amit Lakhanpal, the cryptocurrency has been licensed in the United Kingdom, Estonia, Switzerland and India. As per Dr. Lakhanpal, the crypto-coin is only one aspect of his company. The firm aims to provide a basket of services to crypto-currency enthusiasts, and amateurs. With a current market value of almost thirty seven dollars, it presents a highly lucrative avenue of investment.

While cryptocurrency may be useful due to its ability to remove the middleman and the related costs, corruption and illegal usage are still very much possible. To this end, Amit Lakhanpal ensured the Money Trade Coin puts to use the highest security measures possible. The digital-coin heeds to both AML and KYC guidelines to certify that no money laundering, theft or terrorist funding is possible.

With the Union Budget declaring that the Indian government doesn’t recognise cryptocurrency as a legal tender; the next step, Amit Lakhanpal states, should be to work towards legalizing cryptocurrency and its use in investment. To achieve this aim, Amit M. Lakhanpal took a two-pronged approach. The first – he published his book "The World of Crypto Currency" to make the general public more aware of the new technology and its disruptive powers. The second – draft a proposition on the techniques of regulating cryptocurrency in the nation as an offer of support to the government.

Bitcoin, Ripple and other such crypto-currencies have undeniably brought a paradigm shift in the financial ecosystem of the world. Will digital currency end up becoming the alternate form of paper and plastic money? Will blockchain and its application change the world in unforeseen ways? Amit Lakhanpal believes this is inevitable. The rest of us will have to wait and see how time unfolds.