The blockchain is rising at a path-breaking pace, with many top technology firms investing significant resource in its development. The technology is supported by industry bodies and corporate groups that are creating new avenues through thought leadership and events. That’s why the global market for Blockchain technologies is set to reach $20 billion by 2024, growing steadily due to increased demand across domains.
When it comes to talent, India houses the second largest pool of Blockchain developers in the world. It’s set to become a world leader in the space by 2023, according to research by PwC consulting. The core talent for Blockchain is also found all across the country and not isolated to any single hub. That’s why India sees innovations across industries with solutions, apps, and models being developed to create sustainable growth. It’s also supported widely by government entities, which have termed Blockchain as the technology of tomorrow.
In no particular order, here are the 10 leading companies paving the future of Blockchain in India.
KrypC has been working with major corporations globally in its adoption of Blockchain applications. They’ve developed two marquee products namely, KrypCore and KrypChain. Both products are designed to accelerate the onboarding of the technology to bring in efficiencies early on.
KrypCore is a codeless Blockchain solution that can be used to design complex applications on, while KrypChain is designed to enable seamless communication between IoT devices. Both products are being used to scale businesses that rely on data management and flexibility in operations.
Signity works across sectors, to create scalable Blockchain solutions. From IoT to Fintech, it’s helping industry leaders become more agile through the power of Blockchain. Signity also develops custom distributed ledgers using the Ethereum platform to help businesses scale effectively.
They bring a strategic approach to the table, which is novel in the Blockchain space while working to create innovative solutions for clients. They incorporate critical aspects within the architecture of the application, that is key to bringing it successfully to market. The company is widely recognized as an innovator in the domain.
The Delhi based Blockchain provider was launched in 2006 and has been designing applications and products based on the core platform. They’ve been developing core Blockchains products like P2P insurance, wallets, billing, and log management. They’re using Blockchain to create scalable apps that can be adopted across industries.
The company has also been active in the thought leadership space, participating and organizing multiple events in the industry. They’re also working on providing e-governance solutions that allow government agencies to fully explore the potential of the technology.
Primechain focuses on developing key Blockchain related products such as KYC tools, smart contracts, and charge registry systems. It’s helping enhance the value proposition of the Blockchain ecosystem by creating novel solutions. They’ve also formed a community called BankChain, which has 37 banks exploring the critical advantages of adopting Blockchain.
The company has also developed a tool called TradeChain, which is helping global investors develop their Blockchain portfolio more efficiently. They’ve also conducted more than 50+ events across the country, including key events such as Future Money Conference, BlockZero Chennai, BlockZero Mumbai.
The company focuses on both Blockchain application development and consulting as well. It has developed three marquee products that companies are using to take advantage of Blockchain’s capabilities.
sofoPay is being used as a product to enable enterprise-level procure-to-pay transactions. sofoChain is another solution that is optimizing existing supply chain operations. Insurra enables better autonomous claim processing across sectors. The company specializes in HyperLedger Fabric, HyperLedger Sawtooth, Ethereum, multichain, and smart contracts.
Minddeft is working with companies across Finance, Supply Chain, Healthcare, Manufacturing and Real Estate sectors. They have designed extensive solutions in the ICO and smart contract space, leveraging the potential of Blockchain’s capabilities.
From KYC to patient data sharing, the company has designed products that can be embedded into existing systems. The company also designs crypto-wallets to transact with cryptocurrencies across the web securely.
Signzy focuses on designing digital contracts, risk intelligence software, and KYC mechanics. It’s using Blockchain and AI to enable companies to become increasingly agile. It’s also developing customized packages for companies to explore in the Blockchains space.
The company is also developing products in the corporate banking and mutual fund domain while using Blockchain as the primary driver of innovation and growth. They have an SME onboarding product that allows companies to acquire new customers at faster speeds.
Cateina Technologies has worked with clients across domains, most notably with Yes Bank to develop its vendor financing system. The company focuses on developing multi-nodal applications that utilize the power of technologies such as IoT and AI.
The company uses Hyperledger to write their blockchain applications on and have been developing solutions for industry leaders since 2017. They’ve also developed apps to ensure hassle-free business process automation that has encryption woven into its systems.
Appiness is working on ICO based solutions that leverage key platforms under the Blockchain ecosystem. They’re developing critical solutions for a variety of industries including Crypto-currency exchanges, Supply Chain and Inventory, Real Asset Provenance, Government Systems, Healthcare, EduTech, and Bio-identification. They host multiple Blockchain workshops to promote the utilization of core technology.
The company has also developed a platform called Trustb.le which uses Blockchain to track counterfeit products across a supply chain system. Using Digital Authenticity and provenance, it can track the shipping and management of private label goods.
Velix.ID is a RegTech blockchain platform that specializes in the identity verification space. The company is working with clients across domains to decentralize the process of verification using Smart Contracts, Zero-Knowledge Proofs, and Stellar Consensus Protocol (SCP). The company is also active in the Blockchain community, promoting technology through events and industry groups.
The company has developed a number of physical products as well, including Veilx.ID reader and NFC cards to incorporate the ecosystem better.