Indian Government Comes With A 12-Week Interactive Crypto & Blockchain Course
- Blockchain and cryptocurrency-focused courses are increasingly being offered throughout the world.
- India, one of the world's largest economies, now has its own courses on blockchain tech.
Indian crypto community has been in a dilemma over the passive approach of the government towards cryptocurrencies, and if going by the local media houses, the finance ministry is planning to propose a law which would ask for a 10-year jail term for those who are dealing with cryptocurrencies, be it trading or holding. However, there hasn't been any official confirmation of such reports.
Blockchain Courses For Undergraduates
Amid all the negative news surrounding cryptocurrencies in India, the government-backed crypto and Blockchain course has surely come in as a ray of hope. The course will be offered to undergraduates to help them learn about the digital assets, the underlying technology of blockchain and their various use cases. It is a 12-week interactive program free to enroll for everyone and covers the basics of Bitcoin and various consensus of use in the cryptocurrency space.
The interactive cryptocurrency and Blockchain course will be hosted on the ‘Swayam' platform, which is a Ministry of Human Resource Development backed government platform. The course is titled “Blockchain Architecture Design and Use Cases” and it would run from July 29 to October 18. The government would also conduct an exam on November 17 for those who want to obtain a certificate.
The program is approved by All India Council for Technical Education (AICTE) and it is a Faculty Development Programme (FDP) course. The platform Swayam describes the course as,
“The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centers.”
The certification exam is optional and costs around 1000 INR for those who want to apply for it. The exam will be conducted in major cities across the country and the venues will be announced at the time of signing up. In previously conducted exams by Swayam, the major exam centers used to fall in cities like Lucknow, Kolkata, Guwahati, Mumbai, Thane, Ahmedabad, Bangalore, Chennai, Hyderabad, and Thiruvananthapuram.
How The Course Is Going To Help The Students
The first week of the course would include basic crypto primitives, history, architecture, and conceptualization. The Crypto Primitive course would continue into the second week, where the students would also additionally learn about Bitcoin and distributed consensus.
Although the course is primarily focused towards the backend engineering and coding, it would also teach about the economic aspect and how cryptocurrency is fighting against the central banks as well as authorities to become the mainstream form of use.
One of the lecturers from the course explains the economics of currencies,
“You must limit the currency to have its value. If you put up a lot of currency in the system, it will gradually reduce the value of that particular currency,”
The third week of the course will be heavily focused towards “Consensus in Bitcoin” which would include the basics of proof-of-work and the role of miners on decentralized networks like Bitcoin. The students would start learning about the permissioned blockchain towards the end of the third week which would continue into the fourth week.
The fifth and sixth week would see the students learning about hyper ledger and the remaining of the course will teach about the applications and real-world use cases of blockchain. The course has currently two professors listed Professor Sandip Chakraborty and Dr. Praveen Jayachandran. Both the professors come from background into research in the distributed system and smart contracts.
The Supreme Court Hearing On The State Of Crypto Regulation Nears
Last year, the Reserve Bank of India (RBI) issued a circular which deemed the banking use of cryptocurrencies illegal. The circular had quite a devastating effect on the budding crypto scene in the country as many crypto exchanges had to shut their operation or relocate. The banking ban also fueled several fake news where many leading media houses claimed that it was a complete blanket ban and use of crypto is illegal.
However, the circular was challenged in the supreme court as unconstitutional, upon which the Supreme Court gave a 4-week ultimatum to the drafting committee to finalize the regulatory framework. But on the day of the hearing, the government counsel asked the court to postpone the case to next date. The next hearing date is on July 23.
Subhash Chandra Garg, the Finance Secretary and also the head of the drafting committee responsible for finalizing the regulatory framework has said that they are ready with the report and can submit it to the finance ministry whenever asked.
In the run-up to the hearing, the rumor mills have gone on their business again, and as per one of the speculations the government is thinking of imposing a 10-year jail term. However, the news has not been confirmed by anyone in the drafting committee or the finance ministry. Another RTI enquiring about the state of “imposed ban” on the use of cryptocurrency revealed that RBI has no clue of any such bans.
Blockchain Course May Be A Positive Sign
The introduction of the Blockchain and crypto centered course by the government and the participation of the Finance ministry in the G-20 summit in Japan which was primarily focused on a common crypto-regulatory guideline has got many in the decentralized space optimistic about the upcoming hearing.
While the present government is not well-known for its breakthrough and far0-seeing decision making, it could be their perfect opportunity to change the sentiments of the youths who dominate the majority population in India.