India’s First Recognised Blockchain Startup – Blockstein

Blockstein- India’s First Recognised Blockchain Startup

The Department of Industrial Policy and Promotion (DIPP) recognises “Blockstein Private Limited” as a “Startup”  under it’s Startup India Scheme.

According to DIPP:

Startup means an entity, incorporated or registered in India :

• Not prior to seven years, however for Biotechnology Startups not prior to ten years,
• With annual turnover not exceeding INR 25 crore in any preceding financial year, and
• Working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation

Provided that such entity is not formed by splitting up, or reconstruction, of a business already in existence. Provided also that an entity shall cease to be a Startup if its turnover for the previous financial years has exceeded INR 25 crore or it has completed 7 years and for biotechnology startups 10 years from the date of incorporation/ registration. Provided further that a Startup shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, setup for such purpose.

About Blockstein

Blockstein is a new age technology company that helps customers adopt blockchain technology and build new solutions around it.  Blockstein encapsulates services, solutions and products to help enterprises ascent to undiscovered territory.

Founded by Mr. Vishal Nigam, Blockstein aims to help enterprises flourish in this new age of secured multiparty collaboration by delivering services and solutions around Distributed Ledger Platform, Exchange Solutions, Technology Advisory, Consulting Services, Development Services, Integration Services or Testing Services for companies in the vertical of retail, healthcare, finance and more.

Vishal Nigam, is the driving force in Blockstein. A tech savvy young entrepreneur, Vishal has a techno-creative bent of mind who believes in putting new technology to task by building viable and enforceable solutions. Vishal is also the Chairman of Indian Blockchain Council, which is a consortium formed to boost the Blockchain Ecosystem in India.

On being asked what do you think about Blockchain Technology, Vishal says:

Blockchain isn’t going to change the way we look at transaction but its going to disrupt the whole ecosystem. Because anything on the internet is transaction and it’s not about just about financial.The old question ” is it in the database” is now going to be “is it on the Blockchain”
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Vishal Nigam, a blockchain pro is conducting a “Blockchain Webinar” for all those who wishes to build their career around Blockchain on 19 February at 8.30 PM IST. More details will be updated soon on our Facebook page. 

About Indian Blockchain Council 

IBC, short for Indian Blockchain Council is a consortium formed in India for imparting greater strength to the slowly building up technological eco-system in the country. Co-partnered by blockchain technology enthusiasts, IT companies and startups, the Indian Blockchain Council having its headquarter in New Delhi shall provide a peer-to-peer marketplace for all initiatives and interest regarding blockchain in India.

Witnessing the efforts of Vishal and the team behind IBC & Blockstein, I am confident that the organisations will be the major players in Indian Blockchain Sector. Following are some of the activites that has been/will be carried out by Indian Blockchain Council to boost the blockchain ecosystem in India:-

• Recently, IBC signed up a Memorandum of Understanding (MOU) with InQ Innovation in setting up of an Indian Blockchain Council Academy in Kerala.
• The Indian Blockchain Council has also announced a “Blockchain Bootcamp” in which it will conduct 2-Day session educating everyting about Blockchain Technology and how to build a decentralised app over blockchain platforms such as Ethereum. The Bootcamp will be conducted in 10 Major cities in India in upcoming two months. Post that, IBC plans to take the “Blockchain Bootcamp” globally.

The Indian Blockchain Council claims any amateur can become a Blockchain Pro by attending the Blockchain Bootcamp.

• The Indian Blockchain Council partners up with Startup India Foundation and Startup Armenia Foundation to become their Blockchain Ecosystem Partner for the upcoming Goa Seaside Startup Summit.

As per the Partnership:
– IBC will curate a list of of 10 startups which are using blockchain as their underlying technology to solve BIG problems. All selected startups will then be invited to pitch at the summit FREE of cost incl. stay and food.
– IBC will conduct a special session/workshop on Blockchain Technology during the summit explaining how the technology can be used to solve major challenges facing governments, global businesses and trade.
– Facilitate communication between blockchain experts/mentors and entrepreneurs attending the summit.

IBC invites all of the blockchain startups in India to come and pitch in the Seaside Startup Summit in front of more than 100 Angel Investors.

Indian Blockchain Council along with Blockstein has filled it’d roadmap for the year 2018 with similar kind of events and activities. Lots more will be coming from IBC to augment the Blockchain sector in India.

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Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.