India’s Satoshi Studios Becomes South Asia’s First Blockchain Incubator

The Indian cryptocurrency and fintech ecosystem has garnered a lot of interest since the “Demonetization” drive was set in motion. The increased demand for Bitcoin in the country is now complemented by the launch of a Blockchain incubator.

According to reports on Indian news media, the Indian Bitcoin company, GBMiners has laid the foundation for South Asia’s first Blockchain incubator, Satoshi Studios. GBMiners is the first Indian Bitcoin mining pool which reportedly has a 5% share of Bitcoin network’s hashing power. The fastest growing mining pool has been operational for a few months now, mining its first block in August 2016.

The Satoshi Studios Blockchain Incubator, started by GBMiners has started offering a three-month long intensive residency program in New Delhi. With the applications currently open, the selected teams are set to receive a seed funding of $50,000 which is roughly around 66.5 BTC against an equity of anywhere between 8 to 15 percent.

Amit Bhardwaj, co-founder of GBMiners was quoted by a leading Indian daily saying,

“Our vision is to build New Delhi as the blockchain knowledge hub of Southeast Asia.”

Referring the current monetary situation and the country’s position as the world’s largest remittance market,

“The times could not be better for bitcoin adoption especially with Indian economy’s biggest currency notes being demonetized recently,” he added.

Indian companies are increasingly adopting blockchain technology. Few leading banking institutions in the country have already expressed interest in blockchain based fund transfer platforms. Also, one of the country’s largest conglomerate Mahindra has entered into a partnership with IBM to develop blockchain based solutions for supply chain management.

The Big Four cryptocurrency platforms in the country — BTCX India, Coinsecure, Unocoin and ZebPay are currently trading Bitcoin at prices greater than that of the international market due to increased demand. The GBMiners’ Satoshi Studios initiative is expected to rope in some of the leading personalities from these platforms in advisory and mentoring roles.

Ref: The Hindu | Image: Satoshi Studios

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Global Arena Holding, Inc. (OTC PINK: GAHC) will acquire technology major Blockchain Technologies Corporation (BTC), according to a latest media release.

GAHC had filed a Form 8-K SEC filing on May 20, 2015, stating the incorporation of a new wholly owned subsidiary called “GAHI Acquisition Corp.” The said buyout will see BTC merge with the new subsidiary.

Speaking on the occasion, GAHC Chairman and Chief Executive Officer John S. Matthews said, “I am very pleased with the potential technology acquisition and believe on consummation, BTC and its subsidiaries will add an exciting dimension to the growth of GAHC.

BTC Chairman & Chief Executive Officer Nick Spanos stated “We’re delighted with the GAHC proposed merger as it will enable us to compensate developers with a publicly traded stock, and we are further inspired by the knowledge that as a function of this proposed merger, the public can now participate in a company with Blockchain technology.

Terms of Agreement

The terms of the agreement state that BTC will merge with GAHI Acquisition Corp., and the new subsidiary will be the surviving corporation. BTC shareholders will receive shares equal to one-third of the total issued and outstanding shares of GAHC.

GAHC will fund GAHI Acquisition Corp. with $1,250,000 in addition to the amount of the outstanding bridge loan. The amount will be used to pay off the outstanding debt as well as for the development of the blockchain business and technologies.

About Blockchain Technologies Corporation

Blockchain Technologies Corp is a holdings and investments company with a wide portfolio of innovative, value-driven blockchain-based companies. The company’s portfolio boasts of Blockchain Apparatus, Cryptos, Overseas BC Marketing, and Dave. The company also provides blockchain-based enterprise-level global solutions.

About Global Arena Holdings

GAHC has been publicly trading on the OTC pink sheets since May 27, 2011, after successfully completing a reverse merger with China Stationery and Office Supply (CSOF). GAHC holds 100% stake in Global Arena Investment Management LLC (GAIM).

Hot on the heels of the news that the Isle of Man’s Department of Economic Development would be bringing about plans to help protect businesses and consumers who use digital currencies, is word that six businesses on the island are forming a incubator for start-ups in the digital currency space.

These companies range from an accountants’ office to an internet service provider, according to CoinDesk, who will be offering either free or discounted services to these start-ups in effort to help spur innovation.

The incubator is reportedly open to all, with start-ups working in the digital currency space able to contact providers directly for an assessment.

Some of the companies involved include Wi-Manx (the aforementioned internet service provider), business support provider Dixcart, and even the national postal service of the Isle of Man.

“Anybody is allowed to come here and they can choose from the services on offer,” R. Paul Davis was quoted as saying. Davis is affiliated with Counting House, a payment solutions company.

The development is one of interest, particularly because the last place most bitcoin/crypto enthusiasts expected a setting so welcoming to digital currencies would be a small island between Great Britain and Ireland.

Still, it could be an excellent opportunity to kickstart further economic development on the island, which has a population fewer than 100,000.

Read the full report at CoinDesk.


Startup incubator BitAngels announced today that it has invested somewhere on the order of $7 million (close to 7,000 BTC) in bitcoin-related start-up businesses since May of 2013.

BitAngels has invested the funds into about 12 companies, of which include mining hardware manufacturer CoinTerra, instant bitcoin exchanger Cash Into Coins, and GoCoin.

“It has been an incredible time for Bitcoin since the May 2013 Bitcoins show in San Jose, and it has been an even more incredible one for BitAngels,” said David A. Johnston, who serves as Executive Director of the incubator. “Like the digital currency itself, BitAngels had small beginnings, but also like the digital currency, we continue to expect that we’ll head straight to the moon, which might be the one place where BitAngels doesn’t have a presence right now.”

BitAngels is comprised of about 324 angels in over 23 countries, with a whopping $50 million pledged to help fund bitcoin startups. But the angels want to push the envelope.

“We’re continuing to aggressively pursue both new angels and new investment opportunities wherever they might be,” says BitAngels co-founder Michael Terpin. “Bitcoin continues to be a space that is growing constantly, with new ways in which it is touching our day-to-day lives, and BitAngels is going to be an integral part of that continuing development.” (PRESS RELEASE)