Blockchain is a shared ledger that securely records data and transactions, without the need for a central authority. It was originally invented to verify cryptocurrencies, but it has since gone on to power many different projects [slide]. This technology could dramatically change many industries including banking and internet security.

Research and Markets estimates that 55% of Indian businesses are now using blockchain technology. Below, you’ll find 5 Indian companies are breaking ground with this exciting innovation.

Polygon 

Polygon was founded in 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjin. It’s based in Bengaluru and is the maker of the Matic Network blockchain. The company aims to make Bitcoin mainstream through its products.

Polygon is a decentralised platform that provides a faster and cheaper way to send money across the platform. They use the Plasma framework to power this.

Recently, Polygon raised undisclosed funding from the founder of Shark Tank, Mark Cuban.

SoluLab

SoluLab was founded in Ahmedabad by Rajat Lala and Chintan Thakkar in 2014 and is now operating in the US, UAE, Canada and Australia.

SoluLab builds enterprise-class blockchain applications for a variety of different industries. Blockchain technology can be used to simplify and accelerate your business processes by leveraging the security, transparency, and speed that come with it.

SoluLab employs all sorts of tools for their business, including Truffle, Ethereum, Hyperledger and Quorum. Additionally, they also provide blockchain consultation to help clients build solutions for themselves. They build developer tools and offer blockchain education to help the community grow.

KrypC

Bengaluru-based KrypC was founded in 2016 by Ravi Jagannathan and Karthik Balasubramanian. Since its founding, the B2B company has helped many enterprises build, deploy and manage blockchain solutions.

KrypC provides two products: KrypCore Studio and V-Board Framework. KrypCore Studio is a low-code blockchain application development studio which helps enterprises with their innovative use cases. These are translated into real world blockchain solutions. By offering an automated development process, it allows developers to be creative more quickly and efficiently. With minimal code, it quickens the production process.

Hyperlink Infosystem 

The Ahmedabad-based startup, Hyperlink Infosystem, was first founded in 2011 by Harnil Oza. It started as a mobile app development company but expanded into blockchain, AI, and IoT spheres in 2019. A B2B company that does blockchain-related services for businesses. They offer a range of solutions from cryptocurrency wallets to hyperledger, private blockchain and Ethereum. These options can be used for a variety of business needs – including smart contracts.

Hyperlink InfoSystems has expanded its business towards the USA, UK, UAE, France and Canada.

OpenXcell 

OpenXcell is a blockchain development company set up in 2008 by Jayneel Patel. The company has offices in several countries, including the US and Canada. It offers solutions in blockchain technology, smart contracts, and Hyperledger.

OpenXcell has a team to design and develop various types of services, including simple or advanced blockchain architecture. The company’s customers are based all over the United States, Australia & Europe.