Binance is looking to create several educational programs for crypto traders in India. The world’s largest and most popular crypto exchange by daily trading volume is producing three key educational initiatives and will provide access to several blockchain and crypto-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 role in educating the future innovators and builders of India, especially students, and equip them with the relevant blockchain and crypto knowledge to build a path towards financial freedom. With Binance’s resources of academy content and learn and earn program, we hope to create the incentives for users to do thorough research and make informed investment decisions.
The programs are likely being created as a means of helping India understand crypto and move in a digitally compliant direction. India has had one of the most up and down relationships with 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 being a full bitcoin ban within the country’s borders, the truth was that bitcoin companies simply couldn’t obtain bank accounts or other services or tools that would be available to standard investors.
However, this move was later rescinded by the Supreme Court in 2020, which claimed that the law was unconstitutional. It looked like India was going to be the next big crypto haven and that trading would increase overnight. For a while, things leaned in this direction, though it wasn’t long before the nation’s parliament began to contemplate a full ban on all bitcoin and crypto activity.
This would include any sort of trading or transactions, and anybody caught in the act or known to have engaged in crypto would either face fines or jail time. Thus far, no serious action has been taken in this department, but the fact remains that India’s future with crypto is still very much up in the air.
Binance is now looking to aid people’s blockchain and crypto knowledge by incentivizing their activities with digital assets. For those who engage in the company’s new educational programs and study the blockchain materials provided to them, they will gain access to various crypto rewards that they can use to trade or buy additional currencies.
Will Additional Courses Be 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 potentially establishing careers in the blockchain industry. Some of these classes will have to do with Web3 and smart contracts.
The exchange has also recently partnered with IIT Delhi. The latter firm will serve as a sponsor for the crypto enterprise’s new cultural fest known as Rendezvous.
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