Top Indian Blockchain based Products Propelling Innovation
Indian Blockchain based Products Propelling Innovation
Steve Wozniak in a recent Interview said the following and made a few eyes turn towards him.
I am not an anthropologist and I don’t know the culture of India well enough. I don’t see those big advances in tech companies. What is the biggest tech company here, Infosys maybe? I just don’t see that sort of thing coming out of Infosys and I have done keynotes for them three times.
This implies that he doesn’t think Indian companies are innovative enough.
Of course we disagree! Startups like Zomato which currently operates in 24 countries, Oyo Rooms which is South Asia’s largest Hotel Chain, InMobi a global mobile advertising and discovery platform that reaches over 1.5 billion unique mobile devices worldwide counter this very particular notion about the Indian ecosystem.
The Indian markets are more competitive than ever, the sheer versatility across all Tiers of cities & lives make it as exciting and excruciating to innovate.
A bunch of Indian startups have emerged recently who are en-route to create a global impact. But, many foreign startups have been impacting millions in India and billions worldwide since almost a decade. One of the biggest reason for Indian startups being a decade behind in creating global impact is the lack of regulatory approval from government for any new technology.
This has been a constraint for startups to flourish, deep tech patents to arise and Indian products to have global fit in their early stages.
Indian Startups working in new and emerging technologies are facing a similar issue.
A profound example of this is how government is currently treating Blockchain and cryptocurrencies. Last year RBI banned banks from dealing with cryptocurrencies and a recent move of government launching a regulatory sandbox which itself is a very ‘confusing move’ as it is said to accept blockchain startups but avoid crypto assets.
Predominantly such regulatory sandbox can be considered a great move to push innovation, but for Blockchain industry, where public blockchains and crypto assets are fundamentally connected at its core and it is almost impossible to use just one to fully harness the technology’s potential, such move might have a mixed effect.
Amidst all this, a small group of the following mentioned Indian startups are building sustainable blockchain based products focussing on Global markets that’d have a substantial impact.
This article is to proudly recognise their vision and achievements.
QuillAudits –
(Editor’s Note: The author is the co-Founder of the company behind QuillAudits)
QuillAudits is a leading Security audit platform designed by Quillhash Technologies. QuillAudits offers advanced Ethereum, EOS smart contract audit, blockchain protocol security and formal verification to ensure your platform’s integrity.
QuillAudits’ services includes Smart contracts audit, Dapp security audit, Decentralised exchange security audit, Digital wallet security assessment, Blockchain protocol audit, Security consulting.
QuillAudits has secured more than 100 smart contracts till now and is one of the most trusted security audit platforms of Asia.
Solutions —
QuillMonitor — A Smart contract monitoring tool to ensure security and safety of smart contract post-deployment. Projects can create and customise alerts and monitor transactions to identify anomalies in live environment.
QuillRelay — QuillRelay is fully automated security audit tool with formal verification and embedded static and dynamic analysis capabilities to scan smart contract code and detect vulnerabilities.
QuillChakra — QuillChakra ecosystem secures smart contracts throughout its life cycle. With QuillChakra, anybody can create customised contracts, perform contracts audit, deploy contracts in live environment and also monitor contracts by creating customised alerts.
Matic Network
Matic Network is a blockchain scalability platform which provides secure, scalable and instant transactions powered by PoS side chains and an adapted version of Plasma.
Matic network recently concluded its public token sale through Binance Launchpad at a base valuation of over $26 M.
Products —
Wallet Connect — Walletconnect is an open protocol for connecting desktop Dapps to mobile Wallets using end-to-end encryption to Interact with any Dapp without risking your private keys
Dagger — Dagger runs & maintains infrastructure for providing reliable and scalable real-time events. This helps avoid the risk and complexity of polling for events.
SpringRole
Blockchain powered attestation protocol for verifying professional profiles. The main aim of this start-up is to build a blockchain powered Linkedin.
SpringRole is the first professional reputation network powered by artificial intelligence and blockchain to eliminate fraud from user profiles. Because SpringRole is built on blockchain and uses smart contracts, it’s able to verify work experience and reputation, give real meaning to endorsements, reward endorsers, and get users endorsements outside of their network.
SpringRole has over 40,000 registered users and is the first portfolio company from Science Blockchain, the blockchain-focused incubator from Science Inc.
Nuo Network
Nuo network’s vision is to create a peer to peer debt marketplace powered by Blockchain. Nuo is a decentralised and transparent crypto banking platform for emerging markets. It acts as a financial control centre to store, spend and grow any cryptocurrency of your choice. Using Nuo app, users can store all their cryptocurrencies at one place, pay for their coffee at Starbucks with a Nuo Card or make near instant peer to peer transfers over Nuo.Network. It also enables users to avail global financial products and services at one place via Nuo Play.
Nuo Network recently crossed $2 million in crypto reserves, making it the largest lending protocol based in Asia and is also amongst top 5 De-Fi Dapps worldwide.
Masmic
An online global marketplace for crowdsourced user attention, ideas, knowledge and creativity.
On Masmic, anyone can get a query solved in a timely manner by incentivizing crowdsourced collaboration. The platform is powered by micropayments, gamification and algorithmic/automated reward structure.
Within very few months, Masmic has over 30,000 monthly visitors and is one of the fasted growing dapps of south-east Asia.
Statwig
Statwig is an IoT and Blockchain SaaS startup focused to solve the problem of global wastage in vaccines and food caused due to the inefficiencies in Supply Chain. They use IoT to record the journey of the products from the manufacturer to the customer to create an extra layer of visibility and authenticity.
Last year UNICEF made a $100,000 investment in the Hyderabad- based company. The investment from the UNICEF Innovation Fund was to work on the smooth delivery of vaccines to children in need. Notably, StaTwig was among the six of the 50 companies that received the investment.
Rental Coins —
RentalCoins is a private cryptocurrency of the Drivezy, that is a decentralized car rental platform.
The tokens are used to create a fleet of collaboratively-owned vehicles accessible to customers. Drivezy also offers an app that provides updates on operational vehicles, vehicle blocks and maintenance schedule and information about activity, location, and revenue of the vehicle.
Drivezy is currently present in over 10 Indian cities and recently raised over $100 Million through its asset financing deal under which it plans to induct over 50,000 vehicles.
Records Keeper
This platform is a decentralised, corruption free storage facility for digital documents. It mainly keeps records of the blockchain. The main aim of this start-up is to be the alternative to Dropbox or Google Drive.
RecordsKeeper is an Open Public Mineable Blockchain for Record Keeping & Data Security. It can also be seen as an open source platform for private Blockchains, which offers a rich set of features including extensive configurability, rapid deployment, permissions management, native assets and data streams.
Marlin Protocol
The Marlin network is blockchain-agnostic and is interoperable with traditional web protocols opening a wide range of possibilities like High-performance network infrastructure for modern decentralised networks.
Marlin’s vision is to advance the state of peer to peer communication systems by building efficient network protocols. They plan to improve privacy and performance of all blockchains by creating a well crafted single network layer and incentivise all those who join Marlin network as nodes.
Wimwisure
WIMWIsure provides blockchain-based insurance services platform that offers a digital identity platform named ISURE for vehicle inspections and a claims management solution named CLAIMSURE.
The solutions enable vehicle manufacturers, financiers, insurers, spare-part manufacturers and service providers to provide real-time data-driven products and services.
Source —
Top Indian Blockchain based Products Propelling Innovation was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.