The blockchain technology solutions industry in India has received a major boost today after the country’s leading software and services industry body, NASSCOM (National Association of Software and Services Companies) announced the creation of a Special Interest Group (SIG) for Blockchain. The Indian Blockchain SIG is a collaborative effort between NASSCOM, BlockSmiths, and Quattro — a leading global fintech service provider.
The newly formed Blockchain SIG will be working closely with different startups, companies, and entrepreneurs to create use cases for blockchain based solutions for the Indian market. According to the latest press release, the focus areas of the group will include both fintech and non-fintech products. In addition to creating distributed ledger solutions, the Blockchain Special Interest Group will also be responsible for educating the public about cryptocurrency technology and its uses.
The media release quotes the Chief Business Officer at Blocksmiths and the SIG Founding Member, Harmeet Singh Monga saying,
“We see our partnership to form a SIG with NASSCOM as a wonderful opportunity to develop the Blockchain community in India. We strongly believe that India has the potential to lead the Blockchain revolution in the South East Asian region and help businesses from various industries become highly streamlined and efficient by adopting Blockchain.”
The Blockchain SIG has already attracted some of the leading organizations like Axis Bank, Nagarro, Deloitte, Nokia, Genpact, and NITT, who were all in attendance at the recently held meeting.
The charter of NASSCOM Blockchain SIG includes blockchain advocacy, knowledge sharing/collaborating on blockchain implementation, organizing events like Blockathon and contributing to the community by socializing blockchain-based business opportunities with entrepreneurs and students.
The involvement of some of the well-known brands in the group will play a major role in fostering a still nascent technology segment within the country. Few banking institutions and corporates are already experimenting with the distributed ledger technology, but compared to other countries, the number of implementations leaves a lot to be desired. The Special Interest Group could tip the balance in favor of Indian industry players, preparing them to meet the growing global requirement for decentralized applications.
Ref: Media Release | Image: NewsBTC