BSV Stories – Episode 8: India jumps aboard the blockchain train

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The tech startup industry in India has grown significantly in recent years. While the majority still use Hyperledger, others are exploring the use of blockchain technology.

In this episode of BSV Stories, I got an insight into one of the upcoming 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 strengthening the community. Unlike other e-commerce apps, eSamudaay allows sellers to create value for themselves by deciding how the app should work. For example, salespeople can make suggestions and vote on which ones should be implemented. All decision-making activities are registered on the blockchain, which allows for transparency in the community.

Hyperledger Fabric, a technology widely used in India, is a technology layer being considered for eSamudaay. However, co-founder and CTO Ravinder Singh Mahori says that after learning about Bitcoin SV (BSV), he is convinced that BSV has the right tools to meet eSamudaay’s requirements.

“Because a lot of people want to take ownership, we need a way to get these microtransactions done. I think BSV does that very well,” Mahori said.

For eSamudaay CEO and co-founder Anup Pai, it is the common vision he shares with BSV that attracts him the most to BSV. 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 shared vision,” Mahori noted.

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. At a lecture in Kanpur, nChain Chief Scientist Craig Wright says he wants to increase the level of knowledge about Bitcoin.

“I want them to understand what Bitcoin can really do and how they can build on that, how they are viable solutions that they can create, not that we will give them, but they can actually own,” Wright said.

Despite India’s progress in exploring blockchain technology, the government continues to scrutinize the various blockchains available. As Professor Sandeep Shukla of the National Blockchain Project explains, “the question is what kind of blockchain can it be? Whether it is permission or permission less depends not only on the technology issues but also on the government’s appetite for, the corresponding advantages and disadvantages or for that to different methods.”

There is still a lot to learn in India’s IT sector when it comes to blockchain technology and the possibilities of BSV technology, but for Anup Pai and Ravinder Singh Mahori of eSamudaay, BSV is without a doubt their blockchain of choice.

Watch: Dr. Craig Wright Lecture at IIT-Kanpur

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New to Bitcoin? Check out CoinGeeks Bitcoin for beginners section, the ultimate resource guide for learning more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.