Info-tech

US company invests in Snapper Future for a slice of blockchain action

Our Bureau Pune | Updated on May 20, 2019 Published on May 20, 2019

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US-based Enemetch Capital Inc has made an investment in city-based Snapper Future Tech.

Snapper is a leading recognised blockchain technology development and innovation company focussed on building ‘Internet of Value’ since 2016.

Avnish Gupta, MD Enemetch Capital India, said: “Having missed the Internet revolution, we are so glad to have invested into Snapper, and driving early stages of disrupting the blockchain technology.”

Naresh Jain, Co-founder, Snapper Future Tech, said: “From Internet of interaction and information, with blockchain, we are moving towards Internet of Value, where anyone could establish trust, without the need of middleman and one can move and exchange value in real time.”

A press statement issued by Snapper said as per estimates, over 25 per cent of global banking transactions will be on blockchain by 2021.

This will add over $176 billion in business and surge to exceed $3.1 trillion by 2030.

Furthermore, according to an estimate by the World Economic Forum 15 per cent of the global GDP will be stored on blockchain by 2027.

Published on May 20, 2019
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