Blockchain, a decentralised, distributed ledger for digital information, was one of the most disruptive technologies that defined the last decade. It powers cryptocurrencies and NFTs and can radically change multiple sectors, including payments, cybersecurity and healthcare.
According to Research and Markets, 55 percent of Indian businesses are adopting blockchain technology. Below, we list down eight homegrown blockchain startups making ripples.
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(The list is in no particular order)
Polygon, formerly known as Matic Network, was founded in 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjin. The Bengaluru-based startup aims to make blockchain mainstream.
Polygon has built a decentralised platform (by adapting Plasma framework) to provide faster and low-cost transactions on the main chain.
Recently, Polygon raised an undisclosed amount of funding from tech billionaire and ‘Shark Tank’ celebrity Mark Cuban.
Ahmedabad- based SoluLab was founded by Rajat Lala and Chintan Thakkar in 2014. The blockchain startup has now expanded to the US, UAE, Canada and Australia.
SoluLab builds enterprise-class blockchain applications for healthcare, finance, education, media, and real estate industries. It provides blockchain development solutions and services such as private blockchain, apps development services, integrating IoT with blockchain projects and leveraging the power of AI to access quality data for blockchain-based applications.
SoluLab uses tools including Truffle, Ethereum, Hyperledger and Quorum. Additionally, it also provides blockchain consultation, invests in startups, builds developer tools and offers blockchain education.
Bengaluru-based KrypC was founded in 2016 by Ravi Jagannathan and Karthik Balasubramanian. The B2B company helps enterprises build, deploy and manage blockchain solutions.
KrypC’s products include KrypCore Studio and V-Board Framework. KrypCore Studio is a low-code blockchain application development studio that helps enterprises translate their innovative use-cases into a blockchain solution. It accelerates their innovation by eliminating time-consuming, complicated and resource-intensive development processes and with minimal code.
Ahmedabad-based startup Hyperlink Infosystem was founded in 2011 by Harnil Oza. Started as a mobile app development company, Hyperlink Infosystem ventured into the blockchain, AI, and IoT space in 2019. Today, the B2B startup caters to the blockchain requirements of businesses by offering solutions such as cryptocurrency wallet, hyperledger blockchain development, private blockchain, Ethereum cryptocurrency and smart contracts.
Over the years, Hyperlink Infosystem has expanded its footprints to the USA, UK, UAE, France and Canada.
Founded by Jayneel Patel in 2008, OpenXcell is a blockchain development company based in Ahmedabad, India. It has offices in the USA and Canada as well. It offers solutions in blockchain technology, smart contracts, smart contract auditing, Hyperledger, exchanges and wallets.
OpenXcell has a team to develop and design services ranging from simple to advanced blockchain architecture, and its client base is spread across the USA, Australia and Europe.
Originally established as Techracers, Deqode pivoted in 2019, establishing itself as a separate entity. It is led by Ankur Maheshwari and Latha Sharma, and is headquartered in California.
Deqode offers a comprehensive portfolio of enterprise blockchain solutions that integrate with the existing business process to accelerate the digital journey. Its solutions include dq.wallet, dq.track, and dq.pay.
Deqode has served customers across 20-plus countries, delivering more than 30 blockchain projects to enterprises in the fintech, supply chain, energy and healthcare sectors.
Madurai-based Bitdeal was founded in 2016. It has a dedicated team to design, develop and deploy cryptocurrency exchange applications on iOS and Android platforms.
Its cryptocurrency exchange development services include bitcoin exchange script, cryptocurrency exchange script, P2P crypto exchange script, crypto exchange clone script, decentralised exchange script, hybrid crypto exchange script, cryptocurrency wallet development, blockchain development, and DApp development. Bitdeal provides cryptocurrency wallet development services, including hardware wallet, software wallet, web wallet, desktop wallet and paper wallet.
Founded in 2017 by Ronak and Sandip Patel, Knackroot Technologies is headquartered in Ahmedabad with a presence in Canada, Australia and the US. It offers blockchain development and consulting services.
Knackroot Technologies specialises in smart contract, private blockchain, public blockchain, mining softwares, crypto exchanges, crypto wallets, trading bots and STO. Under its blockchain consulting services, the startup offers services such as use-case analysis, platform evaluations, and product design.