Blockchain This Week: Telangana On Track To Become India’s Blockchain Capital And More

Highlighting issues related to data privacy and storing, Wikipedia cofounder Lawrence Mark Sanger said that blockchain technology can give users and consumers more control over their data and relationships with companies.

While speaking at the second edition of Malta AI & Blockchain Summit, Sanger said that this is the main reason behind the exploding popularity of the technology and the reason behind why should it be leveraged in the modern world.

Sanger added, “we should own our data” and that blockchain could help consumers gain control over their data.

Chart Of The Week

Blockchain News From India

Vodafone, Jio Roll Out Blockchain Solution To Curb Spam Calls

Telecom operators Vodafone and Jio have started to roll out blockchain-based solutions to curb spam calls. The solution is being implemented in partnership with Hyderabad-based Tanla Solutions and Tech Mahindra. The deployment is in compliance with the Telecom Regulatory Authority of India’s (TRAI) regulations which will come into effect from this month’s end. Tech Mahindra had also launched a blockchain solution to protect mobile subscribers from spam calls.

Will Telangana Become India’s Blockchain Capital?

The Telangana state government has announced a draft blockchain policy to offer regulatory and policy support for blockchain startups based in Hyderabad. It had launched a blockchain district in August 2018 in collaboration with IT major Tech Mahindra. According to the draft, blockchain companies will be able to avail land at a subsidised rate under the state’s industrial infrastructure corporation. The government had proposed 25% subsidy on rental leases up to INR 5 Lakh annually for the company’s first three years of operations.

Airtel Partners With IBM For Blockchain Solutions

Bharti Airtel has given a multi-million-dollar contract to technology giant IBM for deploying blockchain-based network across India which will help telecom players in protecting their users from fake calls and messages. Citing unnamed sources, an ET report said that with this Airtel users will have complete control over what messages can be sent to them thereby reducing chances of fake transactions and fraud. According to the report, the commercial deployment of the blockchain solution is underway.

SABB, IndusInd Turn To Blockchain For Faster Remittances

Saudi British Bank (SABB) and India’s IndusInd have launched a remittance network powered by blockchain and Ripple. The solution would enable efficient remittance between Saudi Arabia and India. SABB’s head of global liquidity and cash management, Ghada Al Jarbou said that the bank has relatively low penetration into the regional remittance market, with most customers using third-party independent providers. This lack of alternatives is the major reason behind SABB’s decision to launch this product

Blockchain Startup Pick of the Week: Insino Ventures

Gurugram-based blockchain startup Insino Ventures was founded by Animesh Joshi and Sanjay Goswami in 2018. It provides solutions to the companies of emerging technologies like AI, machine learning and blockchain.

In March, it had raised an undisclosed amount of angel funding from a group of HNIs. This funding will be utilised for expanding its services to new geographies and strengthen its product and develop technology platforms.

Blockchain News From Around The World

Chinese Ecommerce Cos Ahead In Blockchain Game

China-based ecommerce giant JD has applied for over 200 blockchain patents. This development comes in after JD.com launched its blockchain based framework JD chain, for business. As the countries across the globe continue to explore ways to leverage blockchain technology, Chinese ecommerce companies are already ahead in this game. JD rival Alibaba group had also applied for over 262 blockchain patents while Tencent and Baidu have applied for 80 and 50 patents respectively. According to the report, China has filed over 4,435 blockchain patents applications from 2013 to 2018 which approximately constitutes about 48% of the total patents filed in blockchain worldwide.

DREP Partners With BlockGemini To Support Its Infrastructure

Singapore-based blockchain startup DREP has partnered with blockchain development and consultation agency BlockGemini which operate from MENA (Middle East and North Africa) region. The DREP will support BlockGemini’s infrastructure and also shape standards for the Middle East market aligned with its 2020 Blockchain Strategy. The startup is expected to establish a base and also connect with businesses in the MENA region.

South Korea’s Shinhan Bank Launches Blockchain Powered Loans

South Korea-based Shinhan Bank claims to have launched the country’s first blockchain-powered loans. According to reports, the bank will use blockchain-powered solutions to solve issues of general citizens related to applying for online loans. The technology will also be used for streamlining processes by scrapping processing of huge amounts of financial data about loan applicants.