Why is India the Right Place for Bitcoin Ventures?
India is one of the emerging global economies. The country's statistics are mind-boggling. To give you a preview of it: India is the second largest country in the world in terms of population. The median age of the Indian population is 27 years (in other words, we are looking at a huge productive workforce). India is the tenth largest economy in the world and it is gradually climbing up the list. It is the world's third largest economy in terms of purchasing power parity. It is again in the third position among the largest economies in Asia. The country has close economic ties with three....
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According to a report by the Internet and Mobile Association of India (IAMAI) along with IMRB International, the two organizations forecast that Internet users in India are expected to reach 302 million by the end of the year. The forecast is a 32 percent increase from the 213 million Indian Internet users at the end of 2013. Currently, the ranking puts China in the first place with 600 million Internet users, with the United States at 279 million Internet users and India following closely behind and battling for second place. Reported by The Hindu news source, upon release of the report....
A number of Indian Bitcoin companies have come together to form the Digital Asset and Blockchain Foundation of India (DABFI). Bitcoin has been remarkably gaining ground in India after the botched up demonetization carried out by the Indian government in November 2016. According to the Times of India, Nishith Desai Associates, an international law firm has been hired to develop “self-regulations” for the industry. No clear regulatory framework in place. The new for self-regulation for the industry arises primarily because there is still no clarity on the legal status of Bitcoin in India. As....
India is an ideal place for Bitcoin startups. It has the right startup culture, huge market opportunity and a growing economy. Thanks to the growing market opportunities and enthusiastic startup community, we are seeing a lot of emerging Bitcoin companies entering the market. Here are some of the Indian Bitcoin based startups - UnoCoin: Unocoin is one of the leading Bitcoin exchange in India at the moment. Unocoin is based out of Bangalore and Tumkur, is part of CoinMonk Ventures Private Limited. They are referred to as the Coinbase of India. Unocoin offers Bitcoin wallet and exchange....
The second most populated country in the world is stepping up to the plate to consider Bitcoin and provide this digital, decentralized cryptocurrency an opportunity to flourish prior to regulating. With a population of over 1,232,530,000, India is a hotspot of potential for growth of the Bitcoin currency and community. Right on the top of the list of the most tech-oriented nations, India will take a leap forward should the Reserve Bank of India truly take a hands off approach towards the Bitcoin currency. As the Indian Rupee is calling for attention with higher rates of inflation, the....
China is steady with Bitcoin. For those who have been following up, you will agree that so much has been happening around India too of late. It is however pertinent at this early point to look at a perspective that points in the direction of how these additional developments in India would impact other parts of the world - particularly Africa. Bitcoin Rise in India. The recent Unocoin funding round led by early-stage investor Blume Ventures, for example, is one of them. It has been trumpeted as a complement to other positive Bitcoin-related developments in India such as Zebpay’s recent....