Bitcoin Could Get a Festive Push in India
Diwali, the Hindu festival of lights, is soon upon us, but could this celebration filled with fireworks, decorations, and lights help boost bitcoin adoption in the country?
On October 20, Diwali will, for five days, light up the skies as Indian people around the world celebrate the festival by lighting candles and fireworks to seek divine blessings from the goddess of wealth, Lakshmi.
According to Bloomberg, Amazon is set to spend $5 billion to dominate India’s e-commerce in the run-up to Diwali. While RedSeer Consulting has stated that Indians are expected to spend as much as $1.7 billion during Diwali. In a report from PYMNTS, an emerging e-commerce market in India is proving significant for the growth of bitcoin, which is believed will see a rise in adoption over the five-day festival particularly targeting the 21 percent unbanked population.
Of course, while the Indian bitcoin community is expected to spend their bitcoins online, there is a lack of bitcoin debit cards and bitcoin e-commerce platforms available.
This post was published at Crypto Coins News on 10/10/2016.