|   Digital Currency


  |   Digital Currency


Nucleus Vision to co-host inaugural edition of International Blockchain Congress in India

Blockchain startup Nucleus Vision is going to co-host one of the largest blockchain conferences in August.

The inaugural edition of the International Blockchain Congress would be held on August 3-4, 2018, in Hyderabad, India. It will bring together leaders from industry and government. It will be co-hosted by the National Institution for Transforming India (NITI Aayog), a policy think tank of the Indian government; the government of India; and the Indian state governments of Telangana.

Speakers include NITI Aayog CEO Amitabh Kant; Honorable Minister for IT & Industries Shri KT Rama; and Jayesh Rajan, Principal Secretary for IT & Industries.

Speaking with EconoTimes, Nucleus Vision’s CEO Abhishek Pitti pointed out while India has always been a hotbed for technological innovation, its potential to contribute to the blockchain world remains unrealized without the right support from local industries and governments.

That is why we are co-hosting the International Blockchain Congress in August at Hyderabad, India, to bring all stakeholders onto the same platform. Additionally, Nucleus Vision is creating a next-generation, homegrown blockchain protocol that is tailored to India's needs and truly meets requirements for scalability, security, and privacy. This will demonstrate the country’s strength in technology development and value add to the global blockchain ecosystem,” he said.

When asked what Indian blockchain startups can expect from the conference, Pitti said that the event would provide a platform where the “startups can network with key players in the blockchain industry and decision-makers who can make a blockchain-powered India a reality.”

Startups in attendance will have access to meet investors who can provide capital, counsel, marketing support, and possible customer bases,” he added.

As for the Indian government’s efforts to become a leader in the blockchain space, Pitti emphasized the need for the government to understand how the technology works.

First, we must understand that government is essential in making blockchain mainstream, especially in a democratic country like India. As an industry, we need to make efforts in communicating the cost and efficiency advantages to government bodies and regulators. In addition, the government needs to put in the time to understand how this technology works within the existing regulatory framework. The government will have to assume the role of a key enabler to make it easier for talented developers and innovators to start blockchain-powered companies.”

Founded in 2014, Nucleus Vision is an IoT and blockchain based contactless identification system. The company is backed by prominent blockchain-focused investment firms including Alphabit Digital Currency Fund, FBG Capital, Kenetic Capital, Turiya Ventures, and BlockAsset.

The company recently inked a partnership with Indian retail chain giant Future Group, which wants to leverage cutting-edge technologies to gain unprecedented customer insight. Commenting on the partnership, Pitti said:

We are currently running a pilot for our retail solution with Future Group, in order to help them understand in-store walk-ins at a granular, real-time level. Our patent-pending IoT and blockchain product will capture customer intent at the shop floor level and provide shoppers with compelling offers, resulting in more business. We will be updating the progress of our pilot in the coming months.”

Further revealing ongoing and future plans, he said that Nucleus Vision is creating a next-generation, homegrown blockchain protocol that is tailored to India's needs and truly meets requirements for scalability, security, and privacy.

“We have a culture of relentless execution and we are constantly working towards creating more pilot deals like the ones we have with the Future Group and Shoppers Stop. We are also working very closely with several state governments, including Telangana, Goa, and Assam for blockchain adoption in India and hope to work with more state governments in the coming months. As India’s blockchain industry grows, we hope to spearhead several more initiatives like the International Blockchain Congress,” he added.

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