Vizitech Solutions, a Fintech company based out of Pune, recently signed an agreement with Japanese blockchain start-up, Chaintope to set up a blockchain R&D center. This center, to be located in Pune, will conduct innovative blockchain research and will train developers in this revolutionary technology.
Chaintope will leverage this new center to further research and product development in areas such as Smart Contracts, a space where the company has already positioned itself as a market leader. For instance, Chaintope recently launched in Japan a blockchain application to facilitate real estate transactions by storing validated land ownership records, allowing faster land deals and reducing fraud-related losses.
Vizitech Solutions, a fast growing company in the Managed Services domain, will manage the R&D center in Pune. The company will hire and train high-quality blockchain developers and will help organizations in the U.S. and Japan with their research projects.
“This venture will combine Chaintope’s cutting-edge research with Vizitech’s market leading execution. It will be a great space for young and interested developers to explore this new life-changing technology and have access to opportunities both in India and abroad,” says Anandsagar Shiralkar, Founder and CEO of Vizitech. Vizitech’s team and Mr Hideki Shoda(Founder, Chaintope) visited multiple colleges back in October, including SICSR and PICT, the result of which was a number of promising hires. “We hope to create opportunities for many more candidates soon,” says Mr Shoda, whose vision for the R&D center is to become a digital playground for young blockchain developers and enthusiasts in India.
Vizitech had been exploring the blockchain space for over a year. Their team created Blockchain Meetup groups, taught over 10,000 students via online courses and formed an international blockchain community of experts, investors, entrepreneurs and developers, focused on creating a resource pool of quality blockchain developers and partners for projects in the U.S., Japan, Middle East and India.
Blockchain is a distributed ledger system that eliminates intermediaries and cannot be hacked. This technology, which was originally born as the supporting technology for the viral cryptocurrency ‘Bitcoin’ has expanded into many other industries with potential far reaching consequences in their respective domains.
Blockchain awareness is increasing in India with initiatives like the Bankchain consortium (which now has more than 27 banks) and the Fintech Valley in Vizag. Add to this, the scope for growth in the digital economy in India and the future of this new technology is boundless.