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Blockchain Council -
July 6, 2024
Blockchain startups are generating a lot of interest in India. From finance to healthcare, these innovative companies are reshaping industries with the new technology. India is currently home to over 3,000 deep tech startups, including: Blockchain.
Cities like Bengaluru, Delhi and Mumbai are leading the way. These startups are not only driving economic growth but also providing solutions to various challenges. With a market expected to add $1.1 trillion to India’s GDP, blockchain technology is more important than ever.
Top 10 Blockchain Startups in India
1. Polygons
Established in: 2017
Founder: Jaint Kanani, Sandeep Nehruwal, Anurag Arjun
overview: Polygon, originally known as Matic Network, offers a platform designed to make Ethereum transactions faster and cheaper. The startup uses a modified version of the Plasma framework, which enables fast and low-cost transactions on Ethereum. Ethereum BlockchainPolygon’s technology helps scale Ethereum by providing layer 2 scaling solutions, increasing efficiency for developers and users.
2. Wazir X
Established in: 2017
Founder: Nishal Shetty, Sameer Mahatre, Siddharth Menon
overview: WazirX represents India Cryptocurrency ExchangesIt offers a platform for trading various cryptocurrencies. Additionally, WazirX has launched Shardeum, an open-source blockchain project, and the Smart Token Fund (STF) to allow users to interact with experienced traders. The startup has attracted a lot of attention and is known for its user-friendly interface and robust security measures.
3. Clip C
Established in: 2016
Founder: Ravi Jagannathan, Karthik Raghuraman
overview: KrypC specializes in blockchain development, providing a protocol-agnostic platform that allows businesses to seamlessly integrate blockchain technology. KrypC’s solutions help organizations implement blockchain into a variety of applications, focusing on generating tangible economic benefits and improving operational efficiency. The company offers products and services that serve the needs of various industries, making blockchain accessible to businesses of all sizes.
4. Nuo Network
Established in: 2018
Founder: Varun Deshpande, Ratnesh Ray, Siddharth Varma
overview: Nuo Network Decentralized Finance A DeFi (decentralized finance) platform that connects lenders and borrowers through smart contracts. The platform simplifies the process of lending and borrowing by using partner exchanges to facilitate transactions. Nuo has also launched Juno, a digital banking platform built on Ethereum, which allows users to hold USDC stablecoin and earn interest. The company is based in Mumbai and Singapore and handles a high volume of transactions in the DeFi space.
5. Decode
Established in: 2019 (founded as Deqode, originally Techracers)
Founder: Ankur Maheshwari, Lata Sharma
overview: Deqode offers a range of blockchain solutions for enterprises. Their services include dq.wallet, dq.track, and dq.pay that seamlessly integrate with existing business processes. Deqode serves clients across various industries including fintech, supply chain, energy, and healthcare in over 20 countries. The company has successfully delivered over 30 blockchain projects, helping businesses enhance their digital capabilities.
6. BitDeal
Established in: 2016
Founder: Thai Hoa Nguyen
overview: Based in Madurai, Bitdeal focuses on cryptocurrency exchange development and blockchain solutions. It offers a wide range of services including cryptocurrency exchanges, wallets and development of decentralized applications (DApps). Bitdeal’s solutions cater to a variety of needs, from P2P cryptocurrency exchange scripts to hardware and software wallet development, providing robust blockchain services to businesses looking to adopt the technology.
7. Elemental Lab
Established in: 2017
Founder: Raunak Vaisoha, Dhruva Gulati, Rajas Nandakumar
overview: Elemential Labs provides blockchain solutions designed to help businesses seamlessly integrate the technology into their operations. They provide consulting, development and implementation services to make blockchain adoption easier for organizations. Their platform is focused on building secure, scalable and interoperable blockchain systems for a variety of business applications.
8. Bank Chain
Established in: 2017
Founder: Indian Bank Consortium
overview: Bankchain is a joint initiative by several Indian banks aimed at exploring blockchain technology to solve challenges in the banking industry. The platform focuses on providing secure and transparent solutions for banking activities such as cross-border payments and trade finance. The initiative will help banks streamline processes, reduce costs and enhance security.
9. PrimeChain Technologies
Established in: 2016
Founder: Rohas Nagpal
overview: PrimeChain Technologies is a leading provider of services in the banking, finance, supply chain managementThe company’s services include consulting, development and implementation of blockchain technology to optimize business operations. PrimeChain’s goal is to help organizations improve the efficiency, security and transparency of their processes.
10. Block Armor
Established in: 2016
Founder: Narayan Neelakantan, Abhishek Tiwari
overview: Block Armour focuses on cybersecurity solutions using blockchain technology. The company provides a secure platform for sharing sensitive information between organizations. Its solutions employ advanced encryption and distributed ledger technology to ensure data privacy and integrity. Block Armour aims to leverage blockchain’s powerful security features to strengthen enterprises’ cybersecurity posture.
What educational resources are available to learn blockchain technology in India?
There are several educational resources and certifications available to learn blockchain technology in India. Notable organizations in this space are Blockchain Counciloffers a variety of online certification and training programs. These certifications cover a range of topics from fundamental concepts to advanced applications.
The program is designed to provide in-depth knowledge of various blockchain technologies and their use in various industries. The Blockchain Council certification is globally recognized and aims to equip learners with both theoretical and practical skills in blockchain technology.
Moreover, several Indian universities and online platforms Global Tech Council We offer technology-related certifications that often include hands-on projects, real-world case studies, and interactive learning modules to enhance the understanding and application of blockchain concepts in various fields.
Conclusion
Indian blockchain startups are more than just a trend; they represent a shift towards a more secure and efficient system across industries. With significant investment and a growing number of startups, the Indian blockchain ecosystem is poised to become a global leader. This growth promises exciting opportunities for enterprises and developers alike. As more startups emerge, India’s position in the global tech world will only strengthen.
FAQ
What is the role of blockchain startups in India?
- Indian blockchain startups are leveraging advanced technology to address challenges and create new opportunities in sectors such as finance, healthcare and logistics.
- These companies help drive economic growth, improve operational efficiency and ensure data security across a range of industries.
Which are the top blockchain startups in India?
- polygon: Powering Ethereum transactions with layer 2 scaling solutions.
- Wazir X: India’s leading cryptocurrency exchange with a user-friendly interface.
- Clip C: We provide a versatile blockchain solution that integrates with your existing business operations.
- Nuo Network: It connects lenders and borrowers through decentralized finance on Ethereum.
- Definition: We deliver blockchain projects that improve digital capabilities across multiple industries.
How is blockchain technology benefiting the Indian economy?
- Blockchain technology is projected to add $1.1 trillion to India’s GDP by improving efficiency, security, and transparency in various sectors.
- It will drive innovation in areas such as financial services, healthcare and supply chain management, improving service delivery and reducing operational costs.
Where can I learn blockchain technology in India?
- Blockchain Council: It offers online certification and training programs that cover both basic and advanced concepts of blockchain.
- Indian Universities and Online Platforms: It offers blockchain courses with practical projects and real-world applications to equip learners with practical skills in blockchain technology.
