The cryptocurrency exchange Binance announced the parallel launch of three major educational initiatives to boost the knowledge of Indian investors and students about the cryptocurrency ecosystem and Blockchain technology.
Although he recognizes the importance of investors knowing about cryptocurrencies and blockchain, Binance highlighted that Indian regulators and policymakers cite a lack of education as an area of concern, currently hampering the widespread adoption of cryptocurrencies.
One of the three educational initiatives launched by Binance, mainly aimed at the student population of India, consists of the launch of the Ideathon “Blockchain for Good”, a platform for university students to propose solutions to make cryptocurrencies more accessible and accessible. inclusive.
Binance has also partnered with India-based influencers and educators, including Neha Nagar, Aditya Saini, and Kashif Raza, to host a free webinar called Crypto for All on May 1. According to the official announcement, the crypto influencers will focus on teaching the basics of blockchain and cryptocurrencies, while also demystifying everything related to cryptocurrency trading:
“Along with the delivery of certificates issued on the blockchain by Binance NFT to all attendees, the selected winners will receive great gifts in Bitcoin and Binance Coin (BNB).”
excited!@binance has chosen me for their mission to educate masses on crypto assets and Blockchain.
Plz register yourself for a LIVE webinar on 1st May 2022 at the link https://t.co/b1XUiAF77u
Each participant will get a free certificate on Blockchain issued by Binance. pic.twitter.com/YBYgj6bKAa
— Kashif Raza (@simplykashif) April 26, 2022
Speaking to Cointelegraph about the Indian landscape, Bitinning founder Kashif Raza revealed that: “The main obstacle in the current cryptocurrency education system is that there are not enough platforms that provide education in a simplified way.” He also pointed out the need to introduce educational information in multiple languages to cater for the enormous diversity of the Indian population.
Binance’s third initiative is the newly launched program Learn and Earn which allows users to earn cryptocurrency while learning about the crypto and blockchain ecosystem. Being a long-time cryptocurrency educator in India, Raza highlighted the role of Binance Academy in keeping up with the latest educational information.
Leon Foong, Director of APAC at Binance, highlighted the untapped opportunity to educate the youth of India:
“We hope to create the right incentives for users to do more research and make more informed investment decisions.”
The cryptocurrency exchange has also partnered with one of India’s top universities, the Indian Institute of Technology in Delhi (IIT – D), as the main sponsor of its cultural festival Rendezvous to showcase use cases, including tickets and certificates. NFT, fan tokens and Proof of Attendance Protocol (POAP).
Finally, Raza recommended his compatriots to inform themselves about the cryptocurrency ecosystem before investing:
“Learn first then think about earning. Web3 > crypto and one should understand the underlying technology and also try to build a career in it.”
Although counterproductive on some levels, India’s decision to impose heavy taxes on cryptocurrency investors has brought some clarity around the government’s stance on the fledgling ecosystem.
In early April, Coinbase Ventures, an investment arm of US cryptocurrency exchange Coinbase, held an in-person launch event in Bangalore, India, with plans to invest $1 million in various local cryptocurrency and Web 3.0 initiatives.
In association with Builders Tribe, the CEO of Coinbase, Brian Armstrong revealed that the venture capital firm aims to harness India’s software talent and help accelerate the country’s economic and financial inclusion goals. Speaking to Cointelegraph, Builders Tribe co-founder Pareen Lathia addressed the impact of the new tax law in attracting foreign investment:
“The tax law is just a positive step. It’s a paradigm shift, and the regulations will catch up.”
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