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Blockchain This Week: MeitY, STPI Launches Apiary To Boost Blockchain Startups & More

Blockchain This Week: MeitY, STPI Launches Apiary To Boost Blockchain Startups & More

Under COE’s ‘Idea Challenge Program,’ the govt looks to support 100 blockchain startups in the next five years

The director-general of NPC urged businesses to start adopting blockchain, as it will be the next game-changer

NEM Ventures invests in blockchain-powered copyrights creators’ platform to detect plagiarism and copyright infringement

Last week, the Software Technology Parks of India (STPI), in collaboration with the Ministry of Electronics and Information Technology (MeitY), Government Blockchain Association (GBA), Haryana government, tech giants, large corporates and academic institutions launched a new programme called Apiary, a Centre of Excellence (CoE) in blockchain technology at STPI Incubation Technology. 

With this initiative, the entities look to support over 100 startups by 2025, where they will be conducting ‘Idea Challenge Program’ from time to time to select innovative startups and entrepreneurs in blockchain technology. 

Omkar Rai, director-general of STPI said that the platform will provide startups access to mentors, capital, market and infrastructure to focus on developing innovative products and solutions leveraging blockchain technology. 

Sharat Chandra, who leads the GBA India Chapter, one of the stakeholders of the CoE, told Inc42 that they are committed to the cause of collaborating with all stakeholders for the creation of an inclusive and innovative ecosystem. GBA said that it would mentor and support the startups applying for the programme. 

He added that the Blockchain CoE’s ‘Idea Challenge Program’ will focus on supporting startups which build blockchain solutions around supply chain, agriculture, finance, e-governance use cases pertaining to land records, public health, labour, service record, pension delivery, law enforcement and evidence management, healthcare and pharmaceuticals among others. 

Blockchain Graph Of The Week: 

Relevance Of Blockchain In The Enterprise Context 

The perception of adopting blockchain technology has transformed over the years. According to Deloitte’s Blockchain Survey, in the last three years, the opinion in the industry has changed significantly. The criticality of implementing the technology for enterprises has witnessed a shift in terms of people thinking about the serious application of blockchain. 

For instance, 43% of the responses said in 2018 that technology will be critical for their business. In 2020, however, 55% of respondents said that it is important and it is now part of their strategic priorities. However, 14% are still sceptical about its real implementation, compared to 21% two years ago. 

Blockchain News Of The Week

Industry Stalwarts Turn To Blockchain For EoDB 

The director-general of National Productivity Council (NPC), Department of Industry and Internal Trade (DPIIT), Arun Kumar Jha, said at the virtual blockchain conclave that Indian companies need to adopt blockchain technology at the earliest to reap benefits, in terms of ease of doing business (EoDB). Citing examples, he urged the members of PHD Chamber of Commerce and Industry, a national apex body to start adopting blockchain, as it will be the next game-changer in the country. 

Discussing the possibilities of blockchain technology, the virtual conclave witnessed participation from various industry stakeholders and experts across industries, including S D Sivakumar, director of agribusiness development at Tamil Nadu Agricultural University; Edufied’s founder Ryan Soh; Rsquare Technologies founder and CEO Shanthini Raja; blockchain expert Surinder Kalra and EGW Capital CEO Rahul Kumar among others. 

Acronis Acquires DeviceLock To Expand Its Cyber Protection Portfolio 

Switzerland-based blockchain-powered cybersecurity firm Acronis recently acquired Singapore-based unicorn startup DeviceLock, a device control and endpoint data loss prevention technology platform to expand its cyber protection portfolio. With this acquisition, DeviceLock will now become a wholly-owned subsidiary of Acronis. At the same time, this agreement will help Acronis to explore new capabilities and deliver cyber protection to businesses across the world. 

Serguei ‘SB’ Beloussov founder at Acronis said that DeviceLock’s solution will give its partners and customers an easy way to deliver an unprecedented level of functionality among endpoint DLP solutions in an affordable price range. 

NEM Ventures Invests In Blockchain-Powered Copyrights Platform SharpShark

The venture capital and investment wing of the NEM blockchain ecosystem, NEM Ventures, has invested in SharpShark, a blockchain-powered timestamping platform which protects creators’ copyrights, while enabling the transfer and tokenisation of intellectual property, and the auto-monitoring of violations. 

Kailin O’Donnell, cofounder and general partner at NEM Ventures, in a press statement said that the platform will aim to protect creators’ moral rights to their work by detecting plagiarism and copyright infringement. “We believe that all makers should have the right over their creations, and are aligned with SharpShark’s mission to create a fair and equitable solution for protecting intellectual property (IP),” he added.