The great free Wi-Fi revolution has begun. It began in the streets of New York, where 10,000 phone booths have been converted to Wi-Fi pylons – a project by a Google startup, Sidewalk Labs. Now, with Sundar Pichai as the CEO of Google, the search engine giant is now bringing free internet to India.
India has been a calm incubator for cryptocurrency, and there are lots of potential. However, given its population, which is one of the highest in the world, millions of people there are lucky enough to be provided with a decent internet access. By partnering with Railtel and Indian Railways, Google aims to rectify this problem. By 2016, they foresee that at least 100 of the most populated train stations will offer this feature.
Analogous to this, this effort is another way of giving the country a surefire way to attract investment funds from other countries, with hopes that the transcendence in internet connectivity will give the global audience a newer and better impression of India.
Will this be the start of furthering Bitcoin adoption with the Indian demographic? The Reserve Bank of India has expressed uncertainty when dealing with cryptocurrencies, stating that they needed more expert knowledge at the time and cautioning people to be careful when trading cryptocurrencies.
However, with this new development in the online connectivity infrastructure of the Indian society, analysts believe that Bitcoin adoption is expected to thrive, as it has with numerous Asian countries that has met the same result upon advancements in the tech industry. Since cryptocurrencies are transmitted via the internet, this is a very sound and accurate presumption.
Nearly the majority of the Indian citizens are unbanked as well. Even with the lack of formal regulation, which would actually defeat the purpose, the trust and usage of Bitcoin may just add the efficiency in everyday transactions their people need.
Learn more about the Bitcoin Asia situation here at Coin News.