Crypto exchange Binance has announced the parallel launch of three key educational initiatives to rapidly educate Indian investors and students about the cryptocurrency and blockchain ecosystem.
While acknowledging the importance of educating investors about crypto and blockchain, Binance pointed out that Indian regulators and policymakers cite lack of education as a concern, which is currently hampering widespread crypto adoption. .
Primarily targeting the student population in India, one of three educational initiatives launched by Binance involves the launch of the “Blockchain for Good” Ideathon, a platform for students to propose solutions to make 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 basics of blockchain and crypto concepts while debunking myths related to crypto trading:
“In addition to providing certificates issued via the blockchain by Binance NFT to all participants, the selected winners will receive great gifts in Bitcoin and Binance Coin (BNB).
Excited!@binance chose me for their mission to educate the masses about crypto assets and Blockchain.
Please register for a LIVE webinar on May 1, 2022 at https://t.co/b1XUiAF77u
Each participant will receive a free Blockchain certificate 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 crypto education system is that there are not enough platforms offering a education in a simplified way”. He also highlighted the need to introduce educational information in different languages to cater to India’s highly diverse population.
Binance’s third initiative is the new Learn and Earn program which allows users to earn crypto while learning about the crypto and blockchain ecosystem. As a long-time crypto educator in India, Raza highlighted Binance Academy’s role in keeping up to date with the latest educational information.
Highlighting the untapped opportunity to educate the young Indian crowd, Leon Foong, Head of APAC at Binance, said:
“We hope to create the right incentives for users to do more research and make more informed investment decisions.”
The crypto exchange has also partnered with one of India’s top universities, the Indian Institute of Technology Delhi (IIT-D), as the title sponsor of its cultural festival Rendezvous to showcase use cases, including NFT tickets and certificates, fan tokens and Proof. Presence protocol (POAP).
Finally, Raza recommended his fellow Indians to learn about the crypto ecosystem before making investments:
“Learn first, then think about earning. Web3>crypto and you have to understand the technology behind it and also try to make a career out of it.
Related: Coinbase to invest in Indian crypto and Web3 amid tax regulatory clarity
Although counterproductive on some levels, India’s decision to levy heavy taxes on crypto investors has brought some clarity about the government’s position on the nascent ecosystem.
In early April, Coinbase Ventures, an investment arm of US crypto exchange Coinbase, held an in-person pitch event in Bangalore, India, with plans to invest $1 million in various Indian initiatives. of cryptocurrency and Web3.
In partnership with Buidlers Tribe, Coinbase CEO Brian Armstrong revealed that the venture capital firm intends to tap into India’s software talent and help accelerate economic inclusion goals and finance of India. Speaking to Cointelegraph on the impact of the new tax law on attracting foreign investment, Buidlers Tribe co-founder Pareen Lathia said:
“Tax law is only a positive step. It’s a paradigm shift, and regulation will catch up.