Deccan Chronicle

5 blockchain startups disrupting various sectors in India

Deccan Chronicle | DC Correspondent

Published on: August 7, 2018 | Updated on: August 7, 2018

Banks, financial institutions and many others are adopting blockchain technology faster than anticipated.

Blockchain startups have started picking momentum in India.

Blockchain startups have started picking momentum in India.

Cryptocurrency and Blockchain — the buzz words in the economy globally, are unique technologies disrupting the various sectors. Banks, financial institutions and many others are adopting blockchain technology faster than anticipated. Globally, this technology is widely accepted but in India it is still at nascent stage. Blockchain startups have started picking momentum in India and addressing various issues with the help of blockchain technology. Here is a compiled a list of some interesting startups in this space in India.

SpringRole: SpringRole is the first professional reputation network powered by AI and blockchain to eliminate fraud from user profiles. Because SpringRole is built on blockchain and uses smart contracts, it’s able to verify work experience and reputation, give real meaning to endorsements, reward endorsers, and get users endorsements outside of their network. SpringRole is the first portfolio company from Science Blockchain, the blockchain-focused incubator from Science Inc. SpringRole was started in 2014 in California, USA. It opened another office in Bangalore in the year 2015.

LedgerConnect: Computers giant IBM launched a blockchain platform exclusively for banking and financial services on Monday. IBM partnered with foreign exchange services firm CLS to create LedgerConnect, a platform aimed at applying blockchain technology to numerous areas, including KYC (know-your-customer) processes, collateral management, reconciliation and market data and more.

CoinSecure: Coinsecure needs no introduction, at least not to the Indian audience. It is one of the early movers of Bitcoin and blockchain technology in India. They provide an easy to use Bitcoin exchange, merchant services, a blockchain explorer, as well as a hosted wallet. They have a simple and single motto of "Connecting India to Bitcoin". They seem to be doing just that and show no signs of stopping.

MindDeft Technologies: 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 trends 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.

Trestor: 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 paperworks or limits!

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