The tech startup industry in India has grown significantly in recent years. While the majority are still using Hyperledger, others are exploring the use of blockchain technology.
On this episode of BSV Stories, I got an inside look at one of the up-and-coming e-commerce apps in the country that wants to use blockchain to give power back to the people.
eSamudaay is an online marketplace focused on empowering the community. Unlike other e-commerce apps, eSamudaay lets sellers create value for themselves by deciding how the app should operate. For instance, sellers can make proposals and vote on which ones should be implemented. All decision-making activities are recorded on the blockchain, which allows for transparency within the community.
Hyperledger Fabric, a technology widely used in India, is a technology layer being considered for eSamudaay. However, Co-Founder and Chief Technology Officer Ravinder Singh Mahori says that upon learning about Bitcoin SV (BSV), he is convinced that BSV has the right tools to meet eSamudaay’s requirements.
“Because a lot of people would be taking ownership of, we need a way to have these micro-transactions being done. I think BSV does it really well,” said Mahori.
For eSamudaay Chief Executive Officer and Co-Founder Anup Pai, it’s the common vision he shares with BSV that attracts him to BSV the most. He believes in BSV and its intention to deliver real-world use cases for enterprise and government use—a stark contrast to other blockchains, which he says are more focused on speculative use cases.
“I feel very confident that in a few weeks and months from now, eSamudaay will join and use the BSV blockchain for our use. It’s a matter of developing the understanding and developing the trust and the common vision,” noted Mahori.
In a recent trip to India, members of the BSV blockchain ecosystem sought to educate the Indian information technology community about the power of the BSV blockchain. Speaking at a lecture in Kanpur, nChain Chief Scientist Craig Wright says he wants to increase the level of knowledge on Bitcoin.
“I want them to understand what Bitcoin can really do and how they can build upon it, how they are viable solutions that they can create, not that we will give them, but they can actually own,” said Wright.
Despite India’s advances in exploring blockchain technology, the government continues to look into the various blockchains available. As Professor Sandeep Shukla of the National Blockchain Project explains, “the question is that what kind of blockchain that could be? Whether its permission or permission less, that depends on not only on the technology issues but also on the government appetite for, the corresponding pros and cons or for that to different methods.”
There is still much learning to do within India’s IT sector when it comes to blockchain technology and the capabilities of BSV technology, but for Anup Pai and Ravinder Singh Mahori of eSamudaay, BSV is, no doubt, their blockchain of choice.
Watch: Dr. Craig Wright lecture at IIT-Kanpur
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.