As India recovers from the announcement of the banning of two of its biggest banknotes, a new mining pool, GBMiners, is attempting to fill a gap in the country with the adoption of bitcoin.
With over 250 million people unbanked in India and as the world’s largest inward remittance market, which received just under $70 billion in 2013, India represents a prime location for bitcoin adoption. As bitcoin has grown in popularity throughout the years, the Indian market has gladly jumped on board with the likes of Indian bitcoin exchanges Zebpay and Unocoin, illustrating that bitcoin’s growth in India is set to continue rising.
And yet, despite the arrival of bitcoin in the Indian market, GBMiners believes more can be done to achieve greater things for the country and those who are underserved.
CCN caught up with GBMiners co-founder Nikunj Jain and co-founder and investor Amit Bhardwaj to find out how GBMiners started and what they are hoping to achieve.