India Matches Towards Establishing Self As Blockchain Capital

Auxesis group, the operators of Auxledger technology in collaboration with the Indian Department of science and technology is organizing a national Blockchain Summit.

The Summit would take place on 23rd – 24th of February 2019 at IIM Lucknow Noida campus. The event is targeted towards enabling Indian government and ministries to speed up the process of developing a flourished Blockchain and Cryptocurrency ecosystem.

Building Blockchain Policies For The New India

India has developed the reputation of being an important player in the blockchain and general technological environment. The efforts of the government in seeking appropriate frameworks that would enable proper implementation of the emerging technology is a well known development.

However, this will be the first time in the Asian nation that policy makers, academia, blockchain giants and corporates are coming together to build Blockchain policy for the new India. This will represent the main stage of the summit as key stakeholders will be involved in active participation in critical discussions towards determining the future of the technology.

Other aspects of the summit includes the Blockchain expo, which will involve the showcasing of blockchain products, and networking with world’s top Blockchain companies, Indian startups and corporates indulged in Blockchain landscape.

Also on the program of events is the Pitch shop. This segment is particularly aimed at bringing the best of technology startups and upcoming Blockchain companies to showcase their product and get a chance to win prizes and investors attention.

A Perfect Time For A Disruptive Event

According to the Chairman of Auxesis Group, Kumar Gaurav, there is not much better timing for an event like this. Gaurav notes that For blockchain technology to reach the real world, the market crash of 2018 had to happen, as the focus has now shifted from everyone trying to make money by taking advantage of the emerging technology to the creation real and viable products.

“We see this as a cleansing process, and those who really want to build something for society, who are motivated by innovation and impact, those ones will stay, and will benefit as they will more easily stand out once the noisemakers are gone. We have been there before the hype, we went through the hype and now we see everything going back to normal”.

Gaurav explains that people urgently need to separate the prices and the mentions in the mainstream media from everything else. People need to look at where the builders are, understand what they are doing, then it will become clear that the space is more advanced and suited for the ‘real life’ than 1-2 years ago, when we had a hype without substance.

Blockchain Summit India according to Gaurav comes at a time that is not only remarkable globally, but especially in India, which has always been one of the most cautious countries concerning cryptocurrency. India is looking to open up and establish sensible policies in order to eventually legalise cryptocurrency. It is the first event of its kind in India, bringing together all relevant ministries for the first time to learn from the world’s leading blockchain experts on how to build a blockchain ecosystem and enable cryptocurrency in a reasonable way.

More Than Just Blockchain

Beyond just blockchain, India is also speedily becoming established on a global level as a renowned hub of technology in general. Therefore, the summit is expected to draw talent and inspire other nations, especially more ‘late-comers’ in blockchain, to follow suit and build their own blockchain ecosystems, which already exists in many European countries, but by far not worldwide.

For this event, Gaurav notes that aside the numerous experts from government, business and leading academia in India, there are also international blockchain leaders confirmed who are excited by the prospect of India becoming the next big blockchain hub, and are looking forward to help shape the policies and in turn have their companies become one of the earliest to benefit from a newly opened market, with 1.2 Billion potential users.

Considering the current state of the industry, Gaurav explains that the trend is going back to traditional investors, who in turn after the wipeout can be more confident that the surviving projects are a more mature, secure and sustainable. One typical example of such is the Cashaa wallet. Having launched its compliant multisig crypto wallet in November, the project is planning to launch its own IBAN accounts in the near future, which targets the unbanked including the cryptocurrency sphere, which is believed to continue evolving and finding establishment in any case.

Comments (No)

Leave a Reply