Introduction to Blockchain
Blockchain is an open database or a book of records that stores all kinds of data. A blockchain database, in contrast to all other databases, is stored in real time, and anyone can access its entire history of data.
Blockchain is the technology that enables the existence of cryptocurrency. A cryptocurrency is an autonomous medium of exchange of digital currency that leverages cryptology to preserve the privacy of transactions and regulate the creation of the respective currency. Bitcoin is the best-known cryptocurrency, and eventually led to the invention of blockchain technology. Among the various crypto startups in the country, BitIndia is an exchange that brings Bitcoin, Ethereum, Ripple, and Litecoin to the masses. BitIndia also has a Wallet.
BitIndia Wallet Alpha
BitIndia launched the Alpha version of its mobile wallet app on November 30, 2017. The wallet currently supports Ethereum. BitIndia Wallet is a blockchain wallet, which is a reorganised platform for the people of India, where they can store and make payments via digital currencies. BitIndia has its eyes set on bringing more Indians into the blockchain, by making them aware about cryptocurrencies, and offering a reliable and assured platform for the trade of blockchain and digital currencies in India.
BitIndia Wallet is a Secure wallet, and can be accessed on mobile platforms such as iPhones and Android devices, as well as on the desktop via any web browser. Unlike other wallets, the best part is that it is decentralised, which makes it highly secure, and all the user‘s information is safe and protected . The Alpha version of BitIndia Wallet supports transactions in Ethereum, and there are plans to support other cryptocurrencies like Bitcoin, Ripple and Litecoin in the future. Most importantly, it allows you to accept and transfer funds around the globe, and exchange with local currencies. Additional benefits for users include low transaction fees and freedom from scams. One of the most exciting features is that users have full access to their private keys, thereby making it a trustworthy and user-friendly wallet.
Playstore link: https://play.google.com/apps/testing/co.bitindia
John McAfee is a world-famous tech CEO, computer scientist, and founder of the well-known eponymous anti-virus company McAfee . He is also an advisor and partner at BitIndia .
Saumil Kohli is a well-known name in the blockchain industry. As one of the earliest bitcoin investors in India, and a blockchain enthusiast, he gained a lot of knowledge and experience about blockchain throughout his educational and professional life. Saumil Kohli is highly endorsed for his Leadership, skills and knowledge about Capital Markets, Business Strategy, Trading, etc. .
He has participated in blockchain events across the globe, and has also served as an advisor to many blockchain startups. Armed with years of experience in blockchain, Kohli has launched BitIndia- India’s most secure and user-friendly platform to trade and secure cryptocurrencies.
Sahil Kohli loves all things blockchain, and is skilled in Ethereum development. He is the founder of successful startups Applancer and Exousia Tech. He holds a degree from Punjab Engineering College (PEC), one of the top institutes in North India.
Kunal Nandwani is a startup entrepreneur with significant experience in technology products and electronic trading. He also has experience in algo trading at London-based global investment banks. He has expertise in startups, blockchain solutions, product development, business development, identity management, disruptive business ideas, startup investing, and mentoring.
BitIndia will support other ERC20 Startups from India
BitIndia will support other new blockchain startups in India. The Indian government has been pushing for digital payments, and there is certainly space for digital payments and the use of blockchain in the Indian landscape. BitIndia will support other blockchain startups including ERC20 tokens.
We are friends with existing blockchain startups from India
Sahil Kohli has said, “We consider existing blockchain companies like Zebpay, Unocoin, and others as friends; also, the market is new, and innovative startups will together help move India to Blockchain”
Blockchain technology is beyond Bitcoin and other such crypto currencies. In India, the first wave is apparent in the financial sector because financial institutions around the world have long been fascinated by blockchain technology – created by a network of computers, where each transaction made has a digital signature that cannot be forged – as it introduced a new way of executing and making financial transactions without a central authority. Indian banks like ICICI have already started using this technology in their international trade transactions.
Initiatives like BitIndia are trying to bridge that gap of awareness that exists not only amongst corporates and institutions, but also individuals. They are bringing this to the common man by enabling the exchange of crypto currencies, which are based on blockchain technology. BitIndia’s recently launched wallet, a reliable and convenient platform for payment and storage of digital currencies, is an assurance of their contribution towards Digital India.
We are entrepreneurs of 2025
Sahil Kohli says that “We believe in blockchain; we are the entrepreneurs of 2025”
Today, blockchain technology can usher in an era of smart contracts where all parties agree on executing a contract on available information digitally, and no one party can tamper with the information without others knowing, and with KYCs to make transactions transparent. Today, there are several startups working on blockchain technology, and corporates need to collaborate with them to understand how smart contracts work. One needs to look at the history of blockchain and how it has evolved to form a view on the future of blockchain before jumping on it as the panacea for the world.