India to be the next Bitcoin boom investors
People don't necessarily attribute India with significant wealth but the emerging nation shouldn't be cast to the side. It has the third most amount of Billionaires and in the Asia pacific region there is a net worth of $US4.7 Trillion with China due to it's market dominance holding the world's most billionaires Source
When we drop to the millionaires India has plenty and their wealth continues to grow as it emerges as a developing nation. The nation's growing industry also is tipped to surpass China and replace it in the near future.
This in itself is a massive economic windfall for many Indian nationals and the added wealth that accumulates each year continues to push the nation to the top spot. Science and Technology continues to dominate the sectors with much of this pandemics vaccines being made in India. Pharmaceuticals are big business and if COVID doesn't increase India's financial position then we're all going to be scratching our heads.
Given so much wealth in the nation India's take up of cryptocurrency has been slow with their government and many of its regulators unsure on the legalities of block chain technology. For the past few years the people of India have been locked out of crypto trading with unclear directions and even threats of having their fiat suspended.
The four major banks of India forbid the trading of cryptocurrency which left many out of the sector. But a supreme court challenge saw this rule thrown out and opened the door to the Subcontinent and bitcoin.
Trading jumped from $US28 Million to $US159 million overnight and has kept growing.
India is on the map
With the recent recent supreme court squashing the banks from banning crypto trading which has opened the door to the 1.3 Billion people living on the Subcontinent. It is no small market and even a small percentage of their population was to join crypto trading the boost the the trillion dollar sector would likely double over night.
Which is why cryptocurrency exchanges are rushing into India to set up shop. The current target is 50 million new unique traders. Where that number is doubt the population of my country it is a small slither of the Subcontinent and an easy target to reach given that the Subcontinent is pro technology and many have access to the internet and a phone, which is all that is needed to trade in crypto.
A recent fund raising campaign to establish CoinDCX an Indian based crypto exchange saw it reach $US90 million with relative ease indicating the Subcontinents entry into cryptocurrency is tipped to be big business.
The company is still in its infancy establishing a team of 400 to promote and facilitate trading and any future cryptocurrency campaigning should be focused on the Subcontinent (hint hint Hive and Leo)
I believe Hive and Leo Finance requires abit more marketing and promotion. With our current focus on mainly English tweets a strategy needs to be developed to target new and emerging nations.
With Hive's circulating supply appearing to be high a buy up within the Subcontinent alone would dry up liquidity and push the token value through the roof.
A means to become a professional blogger and earn an income is a lucrative investment and business especially if you're residing in a developing nation seeking financial independence.
Hive and Leo is not a security but a service therefore there shouldn't be to many barriers in promoting or having the platform sustained. With growing angst against Facebook, Twitter and the likes, many of the world's governments are seeking alternative media to challenge the current tech giants.
The Future of Crypto is currently in India and once India joins us we will see significant price growth.
Even the Indian government is seeking to utilise block chain tech in its services.
Read more Here
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I upvoted you, thank you for posting! 👍
I upvoted you, thank you for posting! 👍
Well its nice to see some countries on a different track compared to the US. I hope everything goes well in India so the US learns and changes their strategy.
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SEC was forced to clarify its position today and they confirmed that miners and PoS weren't in scope. I was gonna do a write up but I've already contributed enough time to it. I'll wait for further developments.
There is no doubt that cryptocurrency can help the fate of India a ton. The question is will the government get in the way. They are on again, off again with crypto.
We see so much potential, will they.
The Indian people really need this.
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They're starting to get their own Crypto infrastructure in place, unfortunately there are some mainstream names involved so it might be looking like a regulated thing. But how can you regulate the unregulated. It shell be interesting
It seems our point of vulnerability, across the cryptocurrency industry, is we centralize the applications. Hence, they fall under the reach of government.
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Great to read this informative piece. India is a country of gamblers, traders, technocrats and crypto enthusiasts. I am sure this is going to be interesting
It will be great to see the Subcontinent enter the market and the growth that it will achieve.