CoinDCX Intensifies Crypto Education in India

Indian cryptocurrency exchange CoinDCX has entered into the blockchain education sector. According to the company, its education arm, DCXLearn, has partnered with blockchain research and development organization Blockchain Council to create two professional blockchain courses. 

Education to Bolster Adoption 

A blog post to that effect explained that CoinDCX would integrate online learning and certification for participants. They will complement other courses that Blockchain Council offers, which already cover blockchain, Bitcoin, Ethereum, and Hyperledger.

In a statement to news sources, Toshendra Sharma, Blockchain Council’s executive director, explained that they aimed to make the curricula career-focused and industry-oriented. By partnering with a crypto exchange, the company believes that it would be able to improve its learning module and ensure that participants get up-to-date information in the industry.

Sumit Gupta, CoinDCX’s founder and chief executive, also explained that they had seen a surge in demand for crypto and blockchain knowledge. Partnering with Blockchain Council will help open more avenues for growth and participation in the sector.

DCXLearn will provide CoinDCX’s exchange interface to the certification syllabus, thus allowing participants to access practice sessions in a real-world environment. They will use it for simulated trading and also enjoy access to extensive course materials.  

The initiative is the second commitment that CoinDCX is making to improving crypto education in India. In March, it announced that it would invest $1.3 million in Try Crypto, a long-term educational project seeking to bolster adoption in the world’s most populous nation.

The project will allocate 15 percent of its funds to workshops, seminars, distance courses, and other educational programs. 25 percent of the funds will be assigned to roadshows and awareness campaigning, while another 25 percent will go to community engagement and meetups. The remaining 35 percent will go to product trials, of which DCXLearn is a part.

As the company explained at the time, the TryCrypto initiative aimed to introduce up to 50 million Indians to cryptocurrencies.

A Possible Crypto Ban in the Works

CoinDCX’s educational initiatives and others came primarily due to the Supreme Court’s overturning of a blanket ban that the Reserve Bank of India (RBI) placed on the crypto space two years ago. After a legal tussle with the Internet & Mobile Association of India (IAMAI), the Reserve Bank finally gave in to the Supreme Court’s ruling and allowed financial institutions to accept cryptocurrencies. 

However, uncertainty has crept back into India’s crypto space once again. In June, the Economic Times reported that the country’s finance ministry had proposed another crypto ban.

Then, local finance news source Money Control reported last month that the Reserve Bank had been working with the Ministry of Electronics and Information Technology and the Ministry of Law and Justice on a framework for a possible crypto ban.

Citing a government official’s statement, the news source explained that the new ban attempt would take legislative action. If successful, the authorities could make the ban even more stringent than the initial blanket ban. The new ban will effectively define crypto use as illegal, thus becoming a more binding law. The government official added that they would try getting the law ratified when Parliament resumes its session this month.