The concept of blockchain technology was first introduced during the great financial crisis of 2007-2008. In 2008 when many public and private banks like Merrill Lynch, AIG, HBOS, Royal Bank of Scotland, Bradford & Bingley, Fortis broke down people in America felt that their money in banks is neither safe nor guaranteed that is how Blockchain technology came into existence.
Blockchain technology was invented by Satoshi Nakamoto, it only records a transaction or data but also verifies the same. These days the technology is used by many verticles in India like supply chain, smart contracts, file storage, IPs, Energy management, AML, stock trading, governance, land registrations etc. In this article, we will talk about some of the most innovative blockchain startups in India.
Top Indian Blockchain Startups In 2020
Coinsecure also known as India’s Bitcoin Exchange is Blockchain starup in Delhi which works with the motto of “Connecting India to Bitcoin”.Coinsecure intends to be the one stop shop for all Bitcoin and Blockchain related needs and accomplishes them through several partnerships across the globe.
#2 Primechain Technologies
Primechain Technologies is key to developing blockchain-based solutions for the banking system of India. The startup is based in Pune, founded by Rohas Nagpal and Shinam Arora in 2016. PrimeChain is in collaboration with 27 banks from India and the Middle East for authentication, verification, and storage of electronic records.
KrypC is a FinTech solution and service provider focusing on bringing innovative solutions in the field of Blockchain & Digital Currency. This Bangalore based blockchain startup 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.
Mumbai-based Elemential is building a blockchain development ecosystem focused on making enterprise adoption a smoother experience for both the developer and the enterprise. Their product, Hadron, makes blockchain administration a secure and easily managed process.
RecordsKeeper is an Open Public Ecosystem for Record Keeping & Data Security. The startup offers a full suite of structured and easily accessible record keeping for organizations and individuals.
#7 Sofocle Technologies
Sofocle is a technology company focused on building innovative products using blockchain and smart contracts. The company design and develop blockchain powered enterprise solutions for financial industry and others. This blockchain startup is based in Delhi NCR.
The startup was founded in 2015 by Vishal Kanvaty and Abhijit Jaswal, its products include EzyRemit, EzyHedge, EzyRemit B2B provides blockchain powered solutions to the remittance market. The blockchain solution offerings are focused towards bigger ecosystem and organization trying to adopt blockchain and cryptocurrency technology for trust validation, distributed computing, and simplification of processes.
GetXS is developing blockchain based digital identities for users to authenticate securely over the Internet. Founded in 2016 by Hitesh Malviya, GetXS is working on developing applications in property management, Healthcare, Online Marketplace, Financial Services.
StaTwig is an early stage IoT and Blockchain SaaS startup based in Hyderabad. The firm is focused to solve the problem of global wastage in vaccines and food caused due to the inefficiencies in Supply Chain.
#11 Somish – Blockchain Solutions Development
Somish Solutions develop and provide blockchain-based solutions for applications such as P2P insurance, aviation maintenance, distribution log, tokenized fund transfers etc. Founded in 2006 its flagship blockchain product GovBlocks aims to develop Ðapps (decentralized applications) based on Ethereum blockchain platform.
#12 Accubits Technologies Inc
Accubits is an AI and BLOCKCHAIN focused development and solutions company based in Washington DC with its development offices in India and Dubai. Accubits’ key application areas include finance, retail, supply chain, and manufacturing. The startup has launched a couple of products too viz. iCosys, Reinsurance, BaaS Solutions.
Auxesis is one of the oldest Indian blockchain-based startups that focus on building enterprise-grade blockchain solutions. Founded back in 2015 by Kumar Gaurav, the company has also collaborated with Gaurav’s London-based Cashaa, e-cell of IITB, and Mumbai-based Blockchain Lab for the R&D and customized application developments.
#14 Cateina Technologies
Founded by Sanachit Mehra in 2017, Cateina Technologies is Building blockchain solutions for business networks. The solution helps ensure hassle-free continuity of trade. Transactions are guaranteed to be private and encrypted at all times, even when dealing with third-party APIs.
Trestor is a blockchain startup based in Chandigarh involved in multiple different projects, one of which is in blockchain technology. Trestor offers users to make transactions using its own virtual currency called ‘Trests’. It transfers the Trests through its own blockchain and decentralized network of nodes.