In an exciting news for Indian bitcoin users, Coinsecure.in is seeking investment on BnkToTheFuture.com in order to revamp its trading platform. It is one of the top Indian Bitcoin exchanges, and after a brief slow down during May, they seem to be functioning normally once again.
At press time, they have already raised $219,036 on the BnkToTheFuture. Most exchanges in India serve as a middlemen without any real trading interface and this leaves a huge opportunity for a platform such as Coinsecure, which has an existing interface that only needs an upgrade.
It is one of the three big exchanges; Zebpay and Unocoin along with new entrants Flitpay and Pocketbits. The fundraising event has so far witness investment from 60 investors taking the average investment from each investor to approximately $3650.60.
Coinsecure is working hard towards improving its infrastructure and upgrade it's customer support to meet rising demand and users of it's platform. Sudden surge in volumes in May caused major issues for the platform as they were unable to cater to the large wave of investors moving to their platform to purchase and sell Bitcoin.
India is an untapped market for cryptocurrencies. There's a huge upside for any player in the crypto space to ramp up operations as the Indian government is mulling a regulatory framework towards Bitcoin. It would be great if Coinsecure would be able to provide features and facilities similar to major exchanges such as Bittrex, few years down the road! Because this is what India truly deserves!
Indian IT Industry Body NASSCOM Forms Special Interest Group Powered by BlockSmiths
Indian IT and related services body, 'NASSCOM' has announced that it has started a Special Interest Group (SIG) for Blockchain technology in the Delhi/NCR (National Capital Region). The SIG will be powered by BlockSmiths, a NCR based firm as well as Quattro, a global fintech service provide who will help Nasscom leverage the Blockchain technology.
The purpose of this special interest group is to inform the general public as well as fintech and non-fintech companies from India on the various use cases of Blockchain technology in India.
In a statement made to top Indian publication Economic Times, Harmeet Singh Monga, Chief Business Officer at BlockSmiths & Blockchain SIG Founding Member, made the following statement:
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 fromst othe various industries become highly streamlined and efficient by adopting Blockchain.
Nasscom's Blockchain SIG will focus on covering:
- Blockchain Advocacy
- Knowledge sharing / Collaborating on Blockchain Implementations
- Organizing Events like Blockathon and;
- Contributing to community by socializing Blockchain based business opportunities with Entrepreneurs and Students.
The group held a meeting recently which saw representatives from Industry bigwigs such as Deloitte, Axis Bank, Nokia and Genpact amongst others. You can read a bit more into this here.
It might not seem like much to the Indian user right now, but the fact that NASSCOM's making an effort to propagate blockchain technology in India means that several incredible things could follow in the next few years in the Indian crypto currency space.
I expect Indian startups will consider ICOs in the future to raise investments and that's when things will start getting interesting in a country of over a billion users!
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