Mining Cryptocurrency in India as a Tool Against National Poverty

India Cryptocurrency

It’s not a secret for anyone that some of the poorest people in the world live in India. However, soon this extremely terrible situation can be changed by the mining of the world’s cryptocurrency #1 – Bitcoin currency.

How is BTC mining relevant for India?

There is a community of Dalits in India, where more than 200 million people belong to different castes, which are collectively called “untouchables”. This community occupies the lowest position in the caste hierarchy of the country. To the great misfortune of India, untouchables make up 16 to 17% of the total population, which are not counted in the system of four varnas, because in the opinion of the upper classes they desecrate higher castes, including the brahmanas.

All this is the cause of great discrimination and the exclusion of Dalits, although experts say that the state of the economy in India is recognized as rapidly growing. Analysts say that the country will seriously compete with China in the nomination for a global economic superpower by 2050.

Members of the untouchables are discriminated from a small age. For example, in 79% of educational establishments in Madhya Pradesh  Dalit children are forbidden to eat or even touch a day’s meal, in 35% of schools Dalit children are seated separately and in 28% of schools such students are provided with separate dishes.

It would seem that the problem of detachment is already impossible to solve, because it was formed and developed for more than a decade, and it seems unreal to provide the Dalits with the benefits from the state economy. However, the untouchables found a way out. The Indian Chamber of Commerce of the Dalits united its efforts with the Mahabfic platform, which works on blockchain technologies to launch training sessions in 30 Indian cities.

How are the Dalits going to enter the cryptocurrency world?

It will do this through a training program that tells young people everything about local Bitcoin, other world-known cryptocurrencies, blockchain technology, mining, Bitcoin wallets, buying and selling Bitcoin, cryptocurrency news, and business activities in the field of cryptocurrency. The trainings themselves are aimed at providing an opportunity for young generations who previously did not know anything and did not see anything other than rural activities, independently choose the direction by which they will improve the quality of their own lives.

What is the impact of the training program?

At the moment, this program is “the most ambitious program in the world for training cryptocurrency mining,” the Policy Times notes. The founder and representative of the Dalit Chamber of Commerce, Shri Milind Kamble, explains that the training is aimed at “empowering the rural population, especially young people from the farm community, to earn income in their hometown or village, which will create new economic development in these areas.”

“The new technology blockchain is the future of the technological development, and cryptocurrency mining is a prerequisite for the platform,” he added.

The attitude of the authorities towards the innovative education of the poor

Despite the effectiveness of this type of tool for improving the lives of the poorer part of the country’s population, the authorities are still negatively opposed to the spread of the digital currency and refuse to give Bitcoin legal status. However, this actually does not change anything, since the new program does not fall under the jurisdiction of India, which allows the Dalits to keep studying the new source of income.

After the successful launch of the program, many people are amazed at its success and effectiveness, but do not lose sight of the fact that it can be “strangled” by the authorities, which will most likely not happen. In the meantime, experts and analysts are conducting research to determine how the influx of a large number of miners from India will affect the world rate of cryptocurrency.

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