Published on August 26th, 2015 | by bitcoin0
From Cross-Border Payments and Corporate Support, Interest for Bitcoin Grows in India
Tech giants including Microsoft and IBM have been supporting Bitcoin startups, conferences, accelerators and developers in India.
The efforts of these companies are beginning to pay off, as India has seen a gradual increase in the number of developers and freelancers in the Bitcoin ecosystem.
“There is lot of interest from freelancers in India who suddenly are now getting bitcoins from U.S.-based companies, and then they scramble to understand what is bitcoin,” Indian Bitcoin startup Blockonomics founder Shiva Sitamraju told Bitcoin Magazine.
“From publicly available sources that display data transparently, like LocalBitcoins and Coinsecure, we see about $4 million-$5 million USD moving in bitcoin in India every month.
Because of widespread smartphone penetration in India, many users have begun using mobile bitcoin applications such as Blockchain.info and Coinsecure.