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Indian Blockchain Startups Get Funds, RBI Delays Decision On Digital Currency

While the Indian government shows less interest in crypto assets, Streamsource, one among Indian blockchain startups, launching immediately in India, has received one million dollar fund in seed funding from Accel India. Accel India works on ventures for the start-ups. The American company works in seed for early growth and development for blockchain startups.

As per a report on 1 January 2019, RBI has held their decision in the development of crypto-assets in India. In April 2018, India’s central bank had decided to access into Central Bank Digital Currency. Indian Government finds it too early to think about digital currency.
Accel India’s first investment on venture blockchain startup Streamsource was founded in May 2018. Traders can confidentially hold their accounts and work with each other without revealing the private details of their account.

“Both parties are completely private and do not share confidential information with each other. Both sides are protecting their data, while still transacting with each other,” said Mayank Tewari, co-founder of Streamsource.

While comparing blockchain globally, Japan is heading into blockchain and cryptocurrency adoption. About more than 3.5 millions of people trade in Japan through cryptocurrencies and finally, accept cryptocurrency to become their current asset. Blockchain developer TRON is working with the blockchain game platform known as Game.com. The players can purchase different games through TRON cryptocurrency, TRX, as mentioned of Inc42.

Streamsource targets on evaluating sales growth of the team in the US and further plans to hire sources from Australia and US through 1 million dollars raised fund. The Times Group had invested in the Indian blockchain startup called Ponder, a friendly platform that booms to make the Ponder app related to easy searching of jobs, business up to hunting for romance.

According to the ET Tech, Streamsource, unlike Ponder, is working with few standards. US lenders work describing the Indian market to be hard and complex with fewer ideas about the blockchain investments. Apart from it will require manual involvement to simplify the unsecured loans perception of the blockchain.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Kakoli Roy is in architecture planning and interior design with 12 years of experience including writing on health, architecture and interior design for the last three years. Presently writes the latest cryptocurrency news for OWLT Market.

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