Nine India-Based Companies Presented At This Year's Decipher Conference, Held By Algorand In the Ultimate Crypto Hub Of Dubai
Each participating company is actively building Web3 products that leverage Algorand technology, including an NFT marketplace, a DeFi protocol, an AI software company, among others
Nine India-based companies who are utilizing the Alogrand blockchain to support their Web3 products were present and featured at Algorand Foundations Decipher conference, held at Madinat Jumeirah, Dubai, on 28-30 November 2022.
Led by AlgoBharat, the mission of the project is to cultivate a strong regional representation across India, promoting community building and educational efforts. As mentioned in the Decipher event, this initiative is leading a number of strategies including the likes of developer hackathons, sessions held at technical universities and more. Leading this blueprint looks to increase the knowledge and adoption of Algorand and the broader blockchain industry across developers and startups in India.
Featured companies from the AlgoBharat ecosystem, which were present at Decipher 2022 include Contrato, Dapps.cp, Dygnify, EKO India Financial Services, Fragments, Kalga Labs, InFiction, NFTVerse, Nowigence, and Wize.
Contrato, the world's first KYC-embedded contraction solution powered by blockchain smart contract, aims to provide Small and Medium businesses and start-ups with the next generation of business transactions through its decentralized finance model. Dapps.co is accelerating the future of decentralized apps through its App Store style platform, however with additional layers of notifications, commerce (featuring paid apps and in-app purchases), ratings and DIDs - all while ensuring a seamless Web3 experience. Dignify, a DeFi protocol that delivers digital asset liquidity to Small Medium Business focused credit Fintechs, looks at enabling global digital asset investors to discover and invest in debt capital amidst emerging high-growth emerging markets. EKO India Financial Services, an already-established Indian Fintech company enables digital products brands to easily tap and collect digital payments from clients through their unique platform, featuring deeply embedded -in-the-community micro-entrepreneurs. The past 15 years have seen Eko service over 50 million customers through their network of over 300,000 micro-entrepreneurs. Through leveraging the advantages of blockchain, Eko is looking to democratize access to services for clients with a distributed identity solution.
Fragments presents a platform which allows users to create on-chain vaults in order to set up funds, define their goals, governance and raise capital from retail investors, while investing together based on the decided governance framework. The collective investment framework of Fragments offers a DeFi product with multichain fundraising, a total of four forms of governance and a trading history of user profiles. The Kalga Labs platform gives way to more efficient collaborations between content makers and creators, with their first product, InFiction, showcasing a notable solution for TV and film writers, allowing them to demonstrate their work through a decentralized database. White-label SAAS-based platform NFTverse, is looking to bridge the gap between Web2 and Web3 as we know it. NFTVerse enables enterprises, brands, influencers, celebrities and creators to launch their own fully customizable Web3 apps with the inclusion of NFT stores, marketplaces, crypto wallets and crypto tokens, all while integrating with their current Web2 apps and website.
Nowigence is a knowledge management company that uses its Web2-based Pluaris™ technology to help enterprise employees augment knowledge with information and training materials from multiple data sources. Nowigence is now transitioning to an Algorand-based blockchain solution to verify and recognize skill acquisition through decentralized proof of knowledge and proof of experience, which includes social learning, community driven peer-to-peer learning, personalized learning, gamification and reward system, and hybrid learning models utilizing events. The ultimate one-stop NFT infrastructure and API toolkit was presented in the form of Wize, aiming at delivering personalized and secure digital experiences for businesses, DAOs and developers offering POAP (Proof of Attendance Protocol) NFTs, Identity NFTs, Certificate NFTs, Event Ticketing and more. Wize enables NFT Tokenization as a Service for B2B applications and solves the Web 3.0 adoption challenges across various industry verticals with its powerful dashboard, no-code application, SDKs and APIs.
"We're thrilled to have such strong representation from India at this year's Decipher event. Each of these companies recognizes the significant advantages of the Algorand blockchain and they are just a sampling of the use cases we expect to drive the organic diffusion of Algorand in our region. India has the best developers in the world, poised to harness the power of blockchain to tackle some of the most challenging problems we face. These companies featured at Decipher are just a few of the many leading the way into Web 3.0 on Algorand!" said Anil Kakani, Head of AlgoBharat.
The following presentations are now available on the Algorand Foundation YouTube channel for anyone who missed out on the event:
● EKO cofounder Abhinav Sinha appeared alongside leaders from VISA CEMEA, FlexFinTx, and AgroToken, on the topic of "Financial Inclusion at Scale: A World Tour"
● Founders and executives at Contrato, Dapps, Dygnify, Fragments, Wize, Kalga Labs, NFTVerse, and Nowigence presented during the Decipher pitch competitions
● Nowigence Acting CEO Krishna Tammireddy participated in "Delivering Web2 to Web3 (and Beyond)," alongside leaders from Napster, TravelX, and the Global Crypto Council
Kalga Labs founder Abhisar Srivastava and NFTVerse founder Neel Kamal spoke on "India's Creator Economy is Booming! How Web3 is Accelerating It."
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The Algorand blockchain — designed by MIT professor and Turing Award winning cryptographer Silvio Micali — is capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, with immediate finality and near zero transaction costs, and without a second of downtime since it went live in June 2019.Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solves for the "blockchain trilemma" by achieving both security and scalability on a decentralized protocol.
The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem.Note: Investment in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.