Binance also highlighted that Indian regulators and policymakers cite
the lack of education as an area of concern, hindering crypto’s
widespread adoption in the region.
Crypto exchange Binance announced the parallel launch of three key
educational initiatives to fast-track educating Indian investors and
students about the cryptocurrency and blockchain ecosystem.
While
recognizing the importance of investors’ awareness of crypto and
blockchain, Binance highlighted that Indian regulators and policymakers
cite the lack of education as an area of concern, which currently
hinders the widespread adoption of crypto.
Primarily targeting
the student demographic in India, one of the three educational
initiatives launched by Binance involves the initiation of the
“Blockchain for Good” ideathon, a platform for college students to come
up with solutions for making crypto more accessible and inclusive.
Binance
also partnered with India-based crypto influencers and educators
including Neha Nagar, Aditya Saini and Kashif Raza to host a free
webinar named
Crypto for All on May 1. According to the official announcement, the
crypto influencers will focus on teaching the basic concepts of
blockchain and crypto while demystifying myths related to crypto
trading:
“Along with providing certificates issued over
blockchain by Binance NFT to all attendees, select winners will receive
grand giveaways in Bitcoin and Binance Coin (BNB).”
Speaking to Cointelegraph about the Indian landscape, founder of
Bitinning Kashif Raza revealed that “the major roadblock in the current
crypto education system is that there are not enough platforms providing
education in a simplified manner.” He also pointed out the need for
introducing educational information in various languages to cater to the
vastly diverse Indian population.
Binance’s third initiative is
the newly launched Learn and Earn program that allows users to earn
crypto while learning about the crypto and blockchain ecosystem. Being a
long-standing crypto educator in India, Raza highlighted Binance
Academy’s role in keeping up-to-date with the latest educational
information.
Underscoring the untapped opportunity in educating the young crowd of India, Leon Foong, head of APAC at Binance, stated:
“We hope to create the right incentives for users to do more thorough research and make better-informe investment decisions.”
The
crypto exchange has also partnered with one of India’s top tier
universities, the Indian Institute of Technology Delhi (IIT Delhi), as a
title sponsor for its cultural fest Rendezvous to showcase use cases,
including nonfungible token (NFT) tickets and certificates, fan tokens
and proof-of-attendance protocol (POAP).
On an end note, Raza recommended fellow Indians to educate themselves about the crypto ecosystem before making investments:
“Learn
first and then think of earning. Web3 > crypto and one should
understand the underlying tech and also try to build a career in it.”
Related: Coinbase to invest in Indian crypto and Web3 amid tax regulation clarity
While
counter-productive on some levels, India’s decision to levy heavy taxes
on crypto investors has brought over certain clarity around the
government’s stance on the budding ecosystem.
In early April,
Coinbase Ventures, an investment arm of American crypto exchange
Coinbase, conducted an in-person pitching event in Bangalore, India,
with plans to plan to invest $1 million in various Indian
cryptocurrencies and Web3 initiatives.
In partnership with
Buidlers Tribe, Coinbase CEO Brian Armstrong revealed that the venture
firm intends to tap into India’s software talent and help accelerate
India’s economic and financial inclusion goals. Speaking to
Cointelegraph about the impact of the new tax law in attracting foreign
investments, Buidlers Tribe co-founder Pareen Lathia stated:
“Tax law is just one positive step. This is a paradigm shift, and regulations will catch up.”
source link : https://cointelegraph.com/news/binance-to-drive-crypto-and-blockchain-awareness-among-indian-investors
