Belgian Blockchain-Platform-as-a-Service Company Sets Foot in the Indian Market

Brian Njuguna   Nov 28, 2019 01:00 2 Min Read - 2019-11-28T093814.892.jpg

The Indian blockchain sector is ripe for investment based on the rapid growth witnessed to the tune of at least $20 billion as this technology is being deployed in different industries. 

As a result, SettleMint, a Belgian blockchain-platform-as-a-service company, has revealed its penetration into the Indian market. 

The primary objective of this firm is to make it easier for organizations to generate business solutions via blockchain. Expressly, it has offices in Singapore, Saudi Arabia, UAE, and Belgium. Some of SettleMint’s notable clients include Standard Chartered, Carrefour Belgium, tZERO, and Islamic Development Bank, among others. 

India as a hotbed of blockchain technology

The CEO of SettleMint, Matthew Van Niekerk, noted that India was one of the forces to reckon with in the blockchain space. 

He acknowledged: “We are delighted to begin our journey in India, which is currently a hotbed of blockchain technology activity. Keeping in line with the incredible adoption pace of blockchain technology world over, India as well stands to benefit from blockchain as a key technology to realize Honourable Prime Minister’s vision of becoming a $5 trillion economy.” 

He also added: “We have reached delivering a solution rather than hype in the blockchain lifecycle. SettleMint drastically reduces the complexity of blockchain technology, making it easy and fast for the organization to turn a business concept into a working blockchain application from 12-18 months to at most a few weeks.”

According to Blockchain Report 2019 by NASSCOM, many Indian State governments, such as Maharashtra, Andhra Pradesh, Kerala Karnataka, and Telangana, are at the forefront of supporting blockchain projects and startups, as well as organizing hackathons and conferences in this field. 

Shazad Fatmi, CEO SettleMint India, stipulated: “We are one of the simplest and fastest blockchain solution providers in the world. Our core technology accelerates the path to leveraging the benefits of blockchain technology: whether those enterprises are looking to improve efficiency, to extend their current products to a new client segment, or to completely reinvent an existing business model.”

As reported by Blockchain.News on Nov 21, following concerns raised by the US Embassy that some employees and students were applying for visas using fake academic certificates, the Indian state of Telangana made a broad move of addressing this menace through blockchain technology. 


Image via Shutterstock


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