New York-based Consensys, an epicentre for ethereum blockchain technology, has entered India and is looking to grow the ethereum blockchain ecosystem in the country, a top official said.
Over the next 12 months, Consensys wants to build a “very strong” ethereum blockchain-developer community numbering 20,000-50,000, Kavita Gupta, Head of Consensys India, told BusinessLine .
“It is for this that we are launching our first education programme in India in June. We have not done this anywhere else. We are going to offer a number of courses and train people,” she said.
Kavita said that Consensys, which has opened an office in Delhi, has already hired six people in India, and plans to hire another 40-50 in the coming months.
Ethereum is basically a global computer network with its own virtual currency called ‘ether’. One would need ‘ether’ to pay other computers on the network to complete tasks. It is not free to use the network. ‘Ether’ is sometimes referred to as a virtual cousin of ‘bitcoin’, a popular cryptocurrency.
Consensys was founded three years ago by Joseph Lubin, who is the co-founder of the ethereum blockchain network. It has offices in more than 23 countries, with about 700 employees on its rolls.
Kavita said that Consensys is now looking to do projects for Andhra Pradesh government in the areas of supply chain and land titling. Talks are also on with Niti Aayog for a project on land titling, she said.
Products for financial sector
Stating that Consensys has some of the best solutions for the financial sector with respect to settlements or custodial solutions, she said that talks are on with three private sector banks to offer ethereum blockchain technology-based solutions to them.
“We have 48 solutions which cover almost every industry. All these solutions will be slowly available in India over time,” she said.
Top 10 solutions
Consensys India is now in the process of identifying the top 10 solutions that could be brought to India.
“We are definitely bringing supply chain, banking solutions, citizen journalism, and music industry. We are identifying the top 10 solutions for the Indian market,” she said.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.