Binance is looking to create various educational programs for crypto traders in India. The world’s largest and most popular cryptocurrency exchange by daily transaction volume is producing three key educational initiatives and will provide access to various blockchain and cryptocurrency-based learning materials.
Binance is creating classes for traders in India
Leon Foong, Head, APAC, Binance, explained in an interview:
THIS REPRESENTS AN OPPORTUNITY FOR US TO PLAY OUR PART IN EDUCATING INDIA’S FUTURE INNOVATORS AND BUILDERS, ESPECIALLY STUDENTS, AND EQUIP THEM WITH RELEVANT BLOCKCHAIN AND CRYPTO KNOWLEDGE TO BUILD A PATH TO FINANCIAL FREEDOM. WITH BINANCE ACADEMY’S CONTENT RESOURCES AND LEARN AND EARN PROGRAM, WE HOPE TO CREATE THE INCENTIVES FOR USERS TO CONDUCT EXTENSIVE RESEARCH AND MAKE INFORMED INVESTMENT DECISIONS.
The programs are likely to be created as a means to help India understand cryptocurrencies and move in a digital-friendly direction. India has had one of the highest and lowest ratios to crypto in the world. The nation initially banned all financial institutions (banks, etc.) from doing business with crypto and blockchain businesses in 2018.
While this was widely (and incorrectly) reported as an outright ban on bitcoin within country borders, the truth was that bitcoin companies simply couldn’t get bank accounts or other services or tools that would be available to standard investors.
However, this measure was later rescinded by the Supreme Court in 2020, which stated that the law was unconstitutional. It looked like India was going to be the next big crypto haven and trading would increase overnight. For a time, things leaned in this direction, though it wasn’t long before the nation’s parliament began contemplating an outright ban on all bitcoin and crypto activities.
This would include any type of trade or transaction, and anyone caught in the act or known to have engaged in crypto would face fines or jail time. No serious steps have been taken in this department so far, but the fact remains that the future of India with cryptocurrencies is still up in the air.
Binance now seeks to help people’s knowledge of blockchain and crypto by incentivizing their activities with digital assets. Those who participate in the company’s new educational programs and study the blockchain materials provided to them will gain access to various crypto rewards that they can use to trade or purchase additional coins.
Will there be additional courses available?
Binance has also announced that if the programs are successful, it plans to establish more classes and courses that will help those interested in establishing careers in the blockchain industry. Some of these classes will have to do with Web3 and smart contracts.
The exchange also recently partnered with IIT Delhi. The latter firm will serve as a sponsor of the new cultural festival of the crypto company known as Rendezvous.