Belfrics ropes in ex-Reliance Ind’s CTO Kumar Kushal

Priyanka Pani Mumbai | Updated on January 22, 2019 Published on January 22, 2019

Blockchain firm and crypto exchange Belfrics has roped in Kumar Kushal, former Chief Technology Officer at diversified conglomerate Reliance Industries Ltd (RIL), as the company looks at a 10x growth in the next two years. At present, Belfrics has a market valuation of $400 million.

Kushal’s role will be to drive the blockchain-based enterprise business solutions in banking and financial services, mobile governance and enable blockchain start-ups in India, said Belfrics’ Founder and CEO Praveen Kumar.

An alumnus of IIT-Madras, Kushal was responsible for development of digital payments and commerce for customers, telecom agents and retail merchants of Reliance Jio, the telecom business of RIL. He was also the CEO of KahnaTech Solutions Limited, a subsidiary of RIL, that co-created JioMoney platform. Kushal quit RIL in late 2017 to briefly head technology at New York based investment firm Tiller Capital.

At Belfrics, Kushal’s role would be to grow the company into a global market leader in blockchain technology driven business solutions besides hiring about 100 Java engineers in India who will be responsible in charting business plans that the company has for markets such as the US, Africa and West Asia.

He would be creating next generation blockchain-enabled digital FinTech revolution delivered through patented mobile security framework.

Published on January 22, 2019
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