Binance, a crypto exchange, announced that three educational initiatives were launched simultaneously to educate Indian students and investors about cryptocurrency and the blockchain ecosystem.
Binance acknowledged the importance of cryptocurrency and blockchain awareness for investors, but he also pointed out that Indian policymakers and regulators have cited the lack of education as a concern. This is what currently prevents widespread adoption of crypto.
Binance’s three educational initiatives are primarily targeted at Indian students. One of Binance’s three educational initiatives is the initiation and management of the “Blockchain for Good” Ideathon. This platform allows college students to brainstorm solutions for crypto accessibility and inclusion.
Binance also partnered up with Indian crypto educators and influencers, Aditya Saini, Neha Nagar and Kashif Raza to host a free webinar called Crypto for All. Officially, the influencers will teach the basics of crypto and blockchain while dispelling myths about crypto trading.
“Excited! @binance chose me to help them educate the masses about 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
Kashif Raza (founder of Bitinning), spoke to Cointelegraph to discuss the Indian landscape. He stated that the “major roadblock” in the current crypto education system was that there aren’t enough platforms that provide education in a simplified way. He also highlighted the need to introduce educational information in different languages to accommodate the diverse Indian population.
Binance’s third initiative, the Learn and Earn program, allows users to earn cryptocurrency while also learning about crypto and the blockchain ecosystem. Raza, a veteran Indian crypto educator, highlighted Binance Academy’s role in keeping abreast with the most recent educational information.
Leon Foong, Head APAC at Binance, highlighted the untapped potential in education of the young Indian population.
“We want to provide the right incentives to users to conduct more detailed research and make better informed investment decisions.”
The crypto exchange also partnered with India’s top universities, IIT – D, as a title sponsor of its cultural fest Rendezvous. This showcases use cases such as NFT tickets, certificates, fan tokens, and Proof of Attendance Protocol.
Raza concluded by recommending fellow Indians to learn more about crypto before investing.
Learn first before you think about earning. Web3 > crypto. One should be able to understand the underlying technology and try to make a career out of it.
Related: Coinbase will invest in Indian cryptocurrency and Web3 amid clarity around tax regulations
Although it is counterproductive at times, India’s decision not to levy high taxes on crypto investors has provided some clarity about the government’s position on the budding ecosystem.
Coinbase Ventures, the investment arm of American crypto exchange Coinbase held an in-person pitching event at Bangalore, India in April. The goal was to raise $1 million for various Indian cryptocurrency and Web3 initiatives.
Coinbase CEO Brian Armstrong, in partnership with Buidlers Tribe revealed that Coinbase intends to tap into India’s software talent and accelerate India’s financial and economic inclusion goals. Pareen Lathia, co-founder of Buidlers Tribe, spoke to Cointelegraph regarding the potential impact of the new tax law on foreign investment.
“Tax law represents one positive step. This is a paradigm shift and regulations will catch up.”