Blockchain is the most trending technological term today and is forecasted to disrupt various industries in coming future. The buzz is building up in India as well. Just last week, Mahindra and IBM joined hands to develop Blockchain Solution for Supply Chain Finance. Also, mid of this year, ICICI bank adopted Blockchain in a push for digitalizing banking.
Yet, in the startup space, the activity seems to be relatively muted in India when compared globally. One reason can be that the technology is still in its early days and yet to mature. We presented a tutorial on Blockchain earlier this year.
So, we decided to compile a list of some interesting startups in this space in India. Here they are:
Auxesis is a technical innovation company with advanced competency in FinTech and Blockchain Technology. Working for the development of new innovative technological solutions by providing a balance between technology and economic sustainability for the start-ups. Working for businesses to help them focus on their best what they do without the worry of their technical development and maintenance. Currently, company is working with IIT Bombay Entrepreneurship cell & European Incubator (SEED) start-ups projects from idea until there transformation Phase.
Auxesis is constantly experimenting in collaboration with Blockchain Lab, London to find better use cases for other industries. Their current initiative includes Banking, Remittance, Insurance, Event and Ticketing industry while Pharmaceuticals, Luxury goods, Gambling are under consideration.
Coinsecure was built with the motto of “Connecting India to Bitcoin”. Today we focus on “Building an entire eco – system for Bitcoin and Blockchain in India” and we have been able to accomplish this with the array of products and services that we offer. Apart from being the largest and best Bitcoin exchange, Coinsecure offers a Bitcoin wallet, A Blockchain solution (the Block explorer), merchant gateway, comprehensive API’s and a testnet service.
Coinsecure intends to be the one stop shop for all Bitcoin and Blockchain related needs and accomplishes them through several partnerships across the globe. Coinsecure is India’s first and only Bitcoin company to have secured the highest funding round with 1.2 Mill USD and have been at the fore front of developments which are user friendly and secure!
EzyRemit is an innovative FinTech and Blockchain platform and solutions company which is focused on changing the remittance market. Working at the intersection of technology, payments and banking industry from many years, we saw the many redundancies in the system and the need for change.
A glimpse of the solution came with the appearance of Bitcoin and later Ethereum, offering different blockchain technologies we could work with to find our solutions. By pairing experience from the Payment, business process management & software application development, founders use blockchain technology to empower people around the world with free access to a global financial system & faster transaction.
HashCove is the Blockchain arm of uTrade Solutions. uTrade is a FinTech company providing multi-asset trading platform,low latency algos engine, risk management and Blockchain Solutions.
Their products are widely used by global financial institutions including Brokers, Algo Firms, Forex Traders, Stock Exchanges and their end customers.
KrypC is a FinTech solution and service provider focusing on bringing innovative solutions in the field of Blockchain & Digital Currency. Currently the team is developing and deploying industry use cases on the blockchain framework which would help organizations to integrate current processes to the DLT network.
The goal of KrypC’s technology services is to help businesses understand the power and utility of Distributed Ledger Technology (DLT), assess the potential areas of application, provide technical framework & design and effective implementation of the technology solution.
With vast experience in Digital Signature Certificates, Security and Cryptography, KrypC has multiple intellectual property in the areas of Mobile Wallet, Digital Currency, Security and Payments solution.
MindDeft was founded with the thought of making difference with IT services and providing the quality services to customers. Since our inception, the goal is to deliver solutions to complex problems that really makes difference to the customers.
Apart from traditional technology stack, the team is very much open for adopting the new trends and technologies that is really making difference to solutions they are providing. Blockchain is one of the trend that they love, and they are in the progress of taking expertise of various Blockchain tools for example, Ethereum and HyperLedger. They have been doing extensive research for Blockchain and delivered the proof of concepts for various domains on how to implement the smart contracts with Blockchain tools.
Sofocle is a core software development company, focused on building innovative blockchain based solutions for Finance, Health and Retail industries. Our customized solutions enable enterprises to streamline their business process by enhancing security, authenticity and transparency of every transaction happening in the business ecosystem.
Sofocle’s Blockchain solutions include:
SofoSupply – SofoSupply is a Blockchain based solution which enables seamless supply chain financing. It is built on Hyperledger and uses Smart Contracts for digitizing processes. It helps a supplier to easily avail loan against approved invoices by the manufacture without the need of any manual paperwork.
SofoTrade – SofoTrade is Blockchain based solution for Trade Finance that streamlines the international trade settlements. It offers a potential medium to exchange assets without centralized trusts or intermediaries. SofoTrade offers immutability and digital uniqueness by deploying Smart Contracts which are self-executing, triggered by the efficient exchange of digital data and eliminates the risk of double spending.
SofoChain – SofoChain is a solution to record the quantity and transfer of assets as they move between supply chain nodes, like trailers, containers etc. by linking serial numbers, bar codes, RFID, to physical goods. It also enables verification of certifications and assigning certain properties to physical products, thus hereby eliminating fake or counterfeit goods/invoices in the supply chain.
Trestor is an India’s first blockchain startup, which has created “Trest” a secure, digital, store of value. Using the power of Trestor’s blockchain and their decentralised network of trustless nodes ‘Trests’ can be transferred directly from person to person anywhere across the globe. There is zero transfer fees, Trests are transferred within seconds, accounts can never be frozen and there are no paperwork or limits!
Trestor network is designed keeping under banked in mind. Most think that poor just need a bank account and a payment card and once they get it, they will happily switch from cash to a centralized, freezable, chargeable, hackable payment system that the rest of us use. Maybe we should re-think this assumption. “Maybe what unbanked people really need is digital equivalent of cash instead of our banks and our way of banking”.
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Bhasker is a Data Science evangelist and practitioner with proven record of thought leadership and incubating analytics practices for various organizations. With over 16 years of experience in the area of Business Analytics, he is well recognized as an expert within the industry. Earlier, Bhasker worked as Vice President at Goldman Sachs. He is B.Tech from Indian Institute of Technology, Varanasi and MBA from Indian Institute of Management, Lucknow.