A blockchain upholds everything related to digital currencies like (bitcoin, lite coin, Ethereum, etc.) This technology only distributes the information but not by copying it so that means the information will have only one owner.
In a blockchain, the pieces of information are stored in blocks and then linked in a permanent chain. When a new block is added to the chain, it makes the previous blocks even harder to modify, which helps each block become more and more secure over time.
A new disruptive force of digital technology is transforming business patterns and becoming an increasingly important component globally.
Digital technology promotion and adoption Blockchain technology is generating a lot of buzz in India, and it’s catching on in a lot of businesses. Blockchain is a method of storing information in such a way that it is difficult or impossible to edit, hack, or trick the system.
A blockchain is essentially a digital ledger of transactions that is replicated and distributed across the blockchain’s complete network of computer systems.
Each block on the chain contains several transactions, and whenever a new transaction occurs on the blockchain, a record of that transaction is added to the ledger of every participant.
Distributed Ledger Technology refers to a decentralized database administered by several individuals (DLT).
Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature known as a cryptographic signature also known as HashEven among blockchain startups, where global venture capital investments reached $5.6 billion, India received only 0.2% of them.
Furthermore, India accounted for only approximately 2% of total blockchain transactions.
Blockchain Startups Highlights:
| Strartup Name | Blockchain Startup |
| Industry | Banking |
| Headquarter | London, England, United Kingdom |
| Founder | Satoshi Nakamoto |
| Founded | 2008 |
| Funding | $40 million |
In India, blockchain is used in banking, and financial sectors and also actively used in health care and real estate. Blockchain brings immense value to other sectors apart from cryptocurrencies. According to reports, blockchain can boost global GDP by 1.76 trillion.
Blockchain Startup: Founder
Santoshi Nakamoto
Nakamoto implements the first blockchain as the public ledger for transactions made using Bitcoin. Developer(s) working under the pseudonym Satoshi Nakamoto released a white paper establishing the model for a blockchainNakamoto created bitcoin to be a form of cash that could be sent peer-to-peer without the need for a central bank or other authority to operate and maintain the ledger, much as how physical cash can be.
The engine that runs the Bitcoin ledger that Nakamoto designed is called the blockchain; the original and largest blockchain is the one that still orchestrates Bitcoin transactions today.
Blockchain Competitors:
Blockchain’s top competitors include Cion Digital, Coinbase, Hedera Hashgraph, Cosmos Network, Polkadot Network, and Circle.
List of Companies:
- Signzy
- Hyperlink info system
- InstaDapp
- Debut Infotech
- Elemential
- MindDeft
- KoineArth
- Matic Network
- SoluLab
- PrimeChain
1. Signzy
The Mumbai-based blockchain startup focuses on providing a digital onboarding solution for banks, non-bank financial institutions, and other financial organizations. Signzy’s main products are RealKYC, Digital Contracts, and ARI. Signzy earned over $3.6 million in Series A funding from Stellaris and Kalaari in 2018. Since its inception, The startup is known to be one of the best blockchain startups.
The majority of banking services are becoming digital, but one critical function that remains offline and impedes the client experience is regulation adherence. There is a temptation to dilute digital KYC, yet digital is riskier. Signzy believes that by combining Artificial Intelligence and Blockchain technology, they can ensure that digital compliance is both convenient and secure.
2. Hyperlink Info System
Founded in 2011, Hyperlink Info System, which has offices in India and New York (USA), is known to be one of the top web development and app development companies in India. The company, through its expertise, focuses on providing the best blockchain solutions to different industry clients.
They build products based on real-life problems and also customize their modules according to the client’s wishes. They specialize in web & app development, AI solutions, AR/VR, Salesforce development, Big Data Analytics, IoT development, Blockchain, CRM Solutions, etc.
The organization is designed in such a way that it can provide more attainable results and solutions for usage in a wide range of enterprises that face issues in the information and technology sectors.
3. InstaDapp
InstaDapp was established in August 2019 to build out its smart wallet to help users execute advanced transactions through the company’s decentralized finance (DeFi) platform.
Hyderabad-based InstaDapp is one of the most well-known decentralized finance platforms based on Ethereum. The platform promises to make app development easier by fostering interoperability among several Defi blockchain protocols, allowing developers to fully capitalize on the technology’s potential. InstaDapp is a Defi site that aggregates important protocols through the use of a smart wallet layer and bridge contracts.
4. Debut Infotech
Founded in 2011 by Gurpreet Singh, Debut Infotech is a service blockchain development company based in Mohali and also has its office in Chicago, United States of America.
This blockchain startup offers services like blockchain development, smart contracts development, hyper ledger fabric development, PoC development, Cords development, Dapps development, blockchain consultancy, and advisory services which include mobile apps, IoT, web, and cloud.
Debut Infotech is a mobile app and digital product development firm that uses Blockchain, IoT, AI, and other cutting-edge technologies to provide services such as Custom Mobile & Web Application Development, Software Development, UI/UX Design, and Blockchain Development.
5. Elemential
Elemential provides blockchain middleware for organizations called Hadron (orchestration tool). The Elemental product, which Raunaq refers to as the “WordPress of the blockchain world,” is sector agnostic and is solving this challenge through two products: Hadron and Elements (building blocks), both of which aid in the development of scalable blockchain applications.
The startup, which was founded in 2015, has gained financial support from top investment firms like Matrix Partners, Invetopad, Hinduja Group, Digital currency group, Lightspeed India, and Eight Innovate.
Elemential’s product, Hadron, makes blockchain administration a secure and untroubled process.
6. MindDeft
Since its inception, MindDeft is building a number of products with the help of blockchain technology. The startup offers services like cryptocurrency development, smart contracts, token sale, private blockchain, distributed ledger, and legal contracts.
It has been working with platforms like Ethereum, Hyperledger, Stellar, Quorum, EOS, Tron, and R3 Corda for its various projects. The company optimizes businesses and provides solutions and overall increases the efficiency of the business.
7. KoineArth
Praphul Chandra launched KoineArth with the aim to offer services that can provide invoice financing, contract enforcement, and inventory visibility solutions for supply chain solutions.
The Nash platform from KoineArth provides solution frameworks that may be adapted to support a wide range of real-world blockchain use cases.
The Nash platform from KoineArth provides solution frameworks that may be adapted to support a wide range of real-world blockchain use cases.
With Nash, the firm develops a collection of incentive structures that facilitate the incorporation of token-based economics into blockchain applications. These incentive systems can regulate asset access and ownership in a game theory framework.
8. Matic Network
It was founded in 2017 and is a full multi-chained system, as well as a framework and protocol. It connects Ethereum-compatible blockchain networks and was designed to address the problem that Kanani discovered which is the massive load on the Ethereum blockchain.
The Matic network presented Ethereum with a scalable solution. Polygon’s multi-chain network provides an architecture for blockchain networks to communicate with one another outside of Ethereum’s core chain while retaining Ethereum’s liquidity, security, and interoperability.
It has created a decentralized platform (by modifying the Plasma framework) to enable faster and lower-cost transactions on the main chain.
Matic makes payments easy and hassle-free. It is also used in gaming networks as Matic simplifies and enhances the efficiency of gaming network transactions over the blockchain. Matic makes sure that the users have complete control over their assets without any worries.
9. SoluLab
SoluLab creates enterprise-class blockchain applications for industries such as healthcare, finance, education, media, and real estate.
It offers blockchain development solutions and services such as private blockchain, app development services, integrating IoT with blockchain projects, and utilizing AI to acquire quality data for blockchain-based applications.
Truffle, Ethereum, Hyperledger, and Quorum are among the tools used by SoluLab. It also provides blockchain consulting, invests in startups, develops developer tools, and provides blockchain education.
10. Primechain
Primechain Technologies is a global blockchain firm that runs the BankChain community of banks with the purpose of investigating, building, and implementing blockchain solutions.
It is a blockchain ecosystem that includes a fully functional online application, a mobile Progressive Web App, and a Blockchain REST API service which can be done in just 6 minutes (or less).
Primechain is also working on the development of the world’s first multi-node, pre-configured blockchain appliance. Banking & Financial Services, Government, Healthcare & Pharmaceuticals, Insurance, Manufacturing, Aviation, Shipping & Logistics, Telecommunications, Defence & Military are just a few of the industries that the organization serves.
FAQs:
What is the best block chain company to invest in India?
- Hashcash Consultants
- Indra Capital
- Lapits
- Middeft
- Bitdeal
- Infosys
- HCL Technologies
- HData Systems
Who is the best blockchain developer in India?
- Tata Consultancy Services
- Accenture
- Capgemini India Pvt ltd.
- WillowTree Apps
- Zensar Technologies
- Tech Mahindra
What is a blockchain startup?
Blockchain technology is most simply defined as a decentralized, distributed ledger that records the provenance of a digital asset. By inherent design, the data on a blockchain is unable to be modified, which makes it a legitimate disruptor for industries like payments, cybersecurity, and healthcare.
Does India use blockchain?
In India, the use of blockchain technology has found the most takers in the banking and financial sector. The 21st century has witnessed unparalleled technological advancement, especially in terms of information technology.
What is the future of blockchain in India?
Blockchain has remarkable growth potential for India, especially since the implementation requires software people, financial experts as well as legal acumen, in turn creating job opportunities.
Which Indian company uses blockchain?
Somish: It was founded by Ish Goel in New Delhi in 2006. It is one of India’s fastest-growing blockchain startups.
It began exploring Blockchain Technology and collaborating with Fortune 500 companies, governments, and startups all around the world to develop award-winning, proven products
