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Why Did This 29-year-old Woman Plunge Into a Male Dominated Market of Blockchain Primechain Technologies is developing one the largest blockchain-based solution for Indian banks, an initiative led by the country's biggest lender State Bank of India.

By Vanita D'souza

Opinions expressed by Entrepreneur contributors are their own.

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Primechain Technologies is developing one the largest blockchain-based solution for Indian banks, an initiative led by the country's biggest lender State Bank of India. Speaking about the technology, Nagpal explains, "It is an innovative mix of tried and tested technologies including public key cryptography, cryptographic hash functions and proof-of-work."

Arora and Nagpal have been able to build solutions to solve some of the most critical pain points of the banking and financial services industry, namely - high maintenance and support costs, outdated IT systems, and need for manual reconciliation and systems that don't communicate with each other.

To address these issues, the start-up has developed blockchain-based solutions for cross-border remittance, corporate know-your-customer and charge registry, letter of undertaking, bank guarantees, etc. However, the growth for Primechain is tricky. "Blockchain solutions are extremely complex in nature and it takes a very long time to train employees," shares Nagpal.


LAUNCH: August 2016 in Pune


NO. OF CLIENTS 33 banks and financial institutions



Vanita D'souza

Former Senior Correspondent, Entrepreneur India

I am a Mumbai-based journalist and have worked with media companies like The Dollar Business Magazine, Business Standard, etc.While on the other side, I am an avid reader who is a travel freak and has accepted foodism as my religion.

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