Hyderabad-based startup incubator T-Hub launched Blockchain Hyper Hub, in collaboration with CASHe, an app-only lending company at the recently concluded Global Entrepreneurship Summit.
The hub is aimed at co-creating industry grade blockchain-based solutions with startups from all over the globe. It will also focus on developing required talent to make these solutions future proof.
T-Hub is a public/private partnership incubator between Government of Telangana, three of India’s premier academic institutes (IIIT-H, ISB and NALSAR), and key private sector leaders. It aims to forge many such partnerships with governments and corporates and has over 2,000 startups in its database clustered into various stages of growth and across sectors of specialisation.
Speaking on the occasion, Jay Krishnan, CEO, T-Hub said, “Blockchain technology will lead to disruption across many industries including banking, entertainment, e-governance, and land records making the processes more transparent and streamlined. Firms that incorporate blockchain will move away from the traditional hub and spoke model with no central authority governing them. This is a major transition and many businesses worldwide are exploring multiple use cases using this technology. With the launch of Blockchain Hyper Hub at T-Hub, we intend to create the right ecosystem to explore this nascent emerging technology.”
Through the Blockchain Hyper Hub, T-Hub will create a platform to educate and engage the relevant stakeholders of the ecosystem which involves entrepreneurs, corporates, government, regulators, and investors.
Founded by Raman Rao in 2016, CASHe is a platform that provides loans on demand. Its target audience is young working professionals in the age group of 23-35 years. It claims that the average time taken for a loan to be disbursed is about eight minutes, subject to proper submission of all documents. It offers loans from Rs 10,000 to Rs 2,00,000 payable over 30-180 days.
Commenting on the launch, Raman Kumar, Chairman, CASHe said, “We are pleased to partner with T-hub for launching the Blockchain Hyper Hub which will focus on new technology innovations within the FinTech ecosystem. India has a thriving fintech ecosystem and has the potential to catch up with its global counterparts. Blockchain, together with artificial intelligence and machine learning, are most likely to deliver disruptive outcomes and reshape the financial industry in 2018 and beyond. The purpose of launching this with T-Hub is part of our joint effort to engage with key stakeholders - government, regulators, corporates, entrepreneurs, and investors to discover new innovations and applications in this space."