Edul Patel: Bitcoin Pizza Day today: Mudrex CEO Edul Patel explains its meaning

On the important occasion of Bitcoin Pizza Day, Mudrex, a global cryptocurrency investment platform, orchestrated a grand celebration that transcended simple indulgence in culinary delights. Driven by Edul PatelCEO and co-founder of Mudrexthe initiative aimed to remember the historian Bitcoin transaction of 2010, while promoting awareness and involvement of the surrounding community cryptocurrency In Bangalore.

Collaboration with over 30 WeWorks and collaborate with ZomatoMudrex has embarked on a mission to distribute pizzas to nearly 2,000 children from over 25 orphanages and shelters, as well as connecting with over 500 startups across the city.

In an exclusive interview with ETMarkets, Edul Patel shares insights into the inspiration behind Mudrex’s impactful event, his broader vision for cryptocurrency education, and ambitious plans for future outreach. Additionally, the conversation delves into current trends shaping the cryptocurrency sectorIncluded SEBIthe regulatory position of and its implications for Indian investors.

Could you share the inspiration behind Mudrex’s big celebration of Bitcoin Pizza Day?
Edul Patel: On May 22, 2010, Laszlo Hanyecz, a programmer and early Bitcoin enthusiast, made history by paying 10,000 Bitcoin for two Father John pizzas. Today, if we consider the value of 10,000 Bitcoin, it is worth hundreds of millions of dollars, making it the most expensive pizza purchase ever. However, that transaction marked a significant milestone showcasing Bitcoin as a store of value. Mudrex celebrates the first real-world transaction using Bitcoin.

Unlock leadership excellence with a range of CXO courses

Bitcoin has come a long way from facing numerous challenges such as regulatory scrutiny, security breaches, and skepticism from traditional financial institutions in 2010 to 2019. SEC approving Bitcoin spot ETFs and governments around the world regulating it and recognizing it as a security. To celebrate this journey of Bitcoin and spread awareness, Mudrex has been celebrating it for a few years now.

How does Mudrex aim to spread awareness about cryptocurrency through this event?

Edul Patel: Mudrex aims to spread awareness about cryptocurrency through this event by engaging in a multi-faceted outreach approach. We have partnered with over 16 WeWorks across Bangalore to connect with more than 500 startups by delivering pizzas, fostering a sense of community and discussions around cryptocurrency. In collaboration with Zomato, we are reaching 30 lakh food lovers by offering Bitcoin worth the value of one pizza. Furthermore, we are bringing joy to over 2000 children by collaborating with over 25 orphanages and shelters, sharing pizza and knowledge about blockchain technology. This event not only celebrates our mission, but also educates diverse groups about the potential of technology.Why did Mudrex choose Bangalore as the focal point for the distribution of over 5,000 pizzas?
Edul Patel: Mudrex chose Bangalore as the focal point for the distribution of over 5000 pizzas for several reasons. Firstly, Bangalore is known as India’s Silicon Valley, with a vibrant startup ecosystem and a high concentration of tech-savvy individuals. This demographic is often more receptive to innovations like cryptocurrency, making it an ideal target audience for spreading awareness about the industry.

Secondly, Bangalore has a diverse and cosmopolitan population, which aligns well with Mudrex’s goal of reaching a broad audience with its outreach initiatives. By delivering pizzas in Bangalore, Mudrex can engage with people of different backgrounds and demographics, facilitating conversations about cryptocurrency and its potential impact.

With numerous coworking spaces, offices and residential areas, Bangalore offers ample opportunities to reach a significant number of people with the pizza distribution initiative.

How does this campaign align with Mudrex’s broader mission and vision in the cryptocurrency space?
Edul Patel: Bitcoin Pizza Day is a significant day for the crypto community, symbolizing the beginning of a new era in digital finance. We at Mudrex believe in community engagement and building a strong, informed community to educate and spread awareness, empowering them to make informed decisions. We have taken various initiatives to educate people in different ways, as cryptocurrencies are still in their nascent stage and information is key. By partnering with startups and partnering with popular platforms like Zomato, we are committed to making cryptocurrency knowledge accessible to everyone. Through these efforts, we aim to demystify cryptocurrency and provide individuals with the understanding they need to navigate the evolving digital currency landscape. This multifaceted approach not only spreads awareness but also aligns with our vision of making cryptocurrency accessible, understandable and beneficial to all.

We believe in the power of education and community. By celebrating this day with children, we hope to plant seeds of curiosity and knowledge that will grow into a deep understanding and appreciation of blockchain technology in the future.

We believe in the power of small acts of kindness. Today it’s pizza’s turn; tomorrow it could be something else. What matters is that we continue to have a positive impact.

Are similar initiatives planned to be extended to other cities or regions in the future?
Edul Patel: Absolutely, we have ambitious plans to extend similar initiatives to other cities and regions in the future. Our goal at Mudrex is to create widespread awareness and understanding of cryptocurrency, and we believe that engaging communities through such innovative events is an effective way to achieve this goal. This time we saw an extraordinary response from Bangalore, which strengthened our commitment to expand these efforts to other locations next year.

How do you see the future of cryptocurrency in India and what role do you think Mudrex will play in shaping that future?
Edul Patel: India is at the forefront of cryptocurrency adoption at the grassroots level. According to a survey conducted by Mudrex, most people believe that cryptocurrency will become mainstream resource class within the next five years. With increasing regulatory clarity from the Indian government and international bodies, the number of people entering the crypto space is expected to increase. However, educating the masses about cryptocurrency and blockchain technology is crucial. Mudrex, along with other industry players, is making significant efforts to inform people about the associated risks, enabling them to make well-informed decisions. Ultimately, the growth and adoption of cryptocurrency depends on widespread awareness and understanding of the industry.

Looking ahead, what will be Mudrex’s next big steps or innovations in the cryptocurrency market?
Edul Patel: With our B2B product called Saber, we enable Web3 startups and crypto companies to transact seamlessly. We have recently introduced Bitcoin spot ETFs tailored for both Indian retail and institutional traders. This marks the beginning of our expansion to meet the diverse needs of the industry. Furthermore, we are preparing to introduce a range of new products to further enhance our offering and provide complete solutions to our customers.

As regulatory frameworks for cryptocurrencies become more defined globally, we expect positive developments in government regulations that will facilitate a surge in adoption among Indians. Since the introduction of our BTC Spot ETF services in the US, there has been considerable interest from high net worth individuals (HNI) and ultra high net worth individuals (UHNI) in India looking to explore the scenes cryptographic.

We expect fiscal 2025 to attract a significant number of experienced investors and traders from traditional markets to the cryptocurrency landscape. Historically, Indian financial institutions have remained cautious, largely watching from the sidelines. However, we expect fiscal 2025 to be a watershed year, with these institutions starting to actively participate in the cryptocurrency market, thereby catalyzing its mainstream retail acceptance in India.

How does Mudrex view SEBI’s desire to oversee cryptocurrency trading in India, particularly in light of the Reserve Bank’s changing stance? And what potential implications does this regulatory change have for Indian investors?
Edul Patel: The Securities and Exchange Board of India’s (SEBI) proposal to assign oversight to multiple regulators Virtual digital resources (VDA) represents a balanced and pragmatic approach. This move can ensure comprehensive oversight by leveraging the expertise of various financial authorities, thereby improving regulatory clarity. This is a progressive position that recognizes the multifaceted nature of VDAs. Furthermore, it can help boost investor confidence, as a well-regulated environment reduces the likelihood of market abuse and improves the overall integrity of the ecosystem.

(Disclaimer: The recommendations, suggestions, views and opinions provided by the experts are their own. These do not represent the views of Economic Times)

Fuente