Provide a framework for the full blockchain businesses in India

A centralized approach to a decentralized sector

2020 was the “crypto summer” which led to a spurt in the global number of jobs in the cryptocurrency and NFT arena. In India, Blockchain and crypto-related jobs grew by 804% between April 2020 and April 2022, according to a report by US consulting firm Gartner, despite a bearish market and strict regulations from the Indian government.

As web 3.0 gains momentum, the services that provide built-in bases for businesses to venture into the Blockchain, NFT, DeFi and DAO space become an inevitable enabler of modern technology and a major source of employment for the generation. But here is the bottleneck of the blockchain business; it is still in its initial phase in India. Developing a web 3.0 platform required industry expertise and technical maturity. The gap is filled by Web 3.0 Infrastructure companies that offer white label solutions to entrepreneurs eager to enter the industry. They help other companies create top-level platforms to grow their businesses and expand into the new NFT space and Metaverse. The rollout of BaaS can help the brand enter the world of NFT and Metaverse by having an online presence that is not only diverse but also advanced. Businesses can leverage the creation and utilization of virtual assets created using white-label solutions.

When the first wave of simple mesh networks culminated in the 80s and 90s, there was a flurry of rules and community-controlled Internet protocols, which greatly limited the Internet’s acceleration. In the second internet evolution, restrictions were eased, allowing user-driven creativity to flourish and industrial innovation to take over. Then came Google, Amazon, Facebook and Apple.

Now that we are in the middle of the third web transition, i.e. “Web 3.0, take over”, decentralization is at the center. The walls of imposed rules are breaking down, and users are looking for more open and sophisticated services. Multifunctional books with white label solutions, fast processing times and less technical requirements are taking over.

Leveraging decentralization as their core “Blockchain-as-a-Service solutions”, BaaS developers are committed to providing cost-effective, customized ready-to-brand Web 3.0 NFT Blockchain infrastructures for businesses. Several Indian players in this sector, like Seracle, have leveled the playing field for large enterprises, creators and communities by helping them create robust crypto networks and viable marketplaces tailored to their organization’s needs.

With its community-driven ethos, advanced modern functionality and white label solutions such as Crypto Exchange, DeFi-DAO platforms, NFT Marketplace and Metaverse, Blockchain is taking over businesses, and in turn can focus on delivering innovative solutions to their customers. Instead of hiring newer resources to aggregate such services, costs incurred by businesses are cut by these platforms that offer culminating Web 3.0 solutions.

With NFT and DeFi market capitalizations rising above USD 340 billion globally, the need for unanimous global regulations in the blockchain sector remains high. A platform that operates within regular compliance is critical to maintaining algorithmic stability and reducing the chances of data mishandling, a common shortcoming of any software-based product. Blockchain-based services are unique asset classes based on a unique technology that aims at resolutions to bring down such mismanagement.

Hailed as the next game-changer by critics, experts and influencers alike – blockchain has the potential to do what the internet did for finance, art or any other business in the 21st century. Blockchain technology can unequivocally scale up the financial system through DeFi, DAO and Cryptocurrency.

Some might dismiss this as another tech fad, but at least for 2022, DeFi platforms have already stepped up over $200 billion worth of allowances. In parallel, the global blockchain market is also growing to touch one NOK 163.83 billion dollar valuation as a market by 2029.

The key difference between any DeFi, blockchain and traditional service is the “De” in the name. Services can exist in a decentralized manner without the need for an intermediary. Tamper-proof, virtual and global, BaaS can redefine how businesses conduct transactions in Web3.0.

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