Why India Is Leading Blockchain Development Even With A Crypto Ban

Blockchain, News, Opinion, Regulation | November 5, 2019 By:

Two factors make India simultaneously the best place for blockchain development and the worst for crypto investment. While the Indian government has come out against crypto investment with a clear ban on cryptocurrencies, India is the number one country worldwide for a highly specialized field of systems integration (SI) engineers, many of whom work directly with some of the world’s largest blockchain teams.

One of the biggest advantages these SI engineers bring is their adaptive approach to infrastructures. Many are used to working without a native infrastructure like IBM Hyperledger, so they’re open to the best infrastructure to serve their clients’ needs based on their specific use-cases.

As a global leader in software innovation, India houses some of the world’s leading blockchain teams. Many of the largest system integrators (SI) responsible for the software that runs the largest enterprises are managed in India. The enterprise businesses operating in India see blockchain as a catalyst technology in the future of corporate operations and have blockchain research centers of excellence consisting of teams of local business experts and developers. Below is a partial list of  the number of SI engineers and the size of their blockchain teams:

India’s Blockchain Team Sizes

<100 Team Members

100-500 Team Members

500-1,000 Team Members

>1,000 Team Members

Zensar

Mphasis

Fujitsu

NTT

Syncheron

Capgemini

L&T Infotech

Tech Mahindra

DXC Technology

KPMG

Infosys

Tata Consulting Service

Cognizant

Deloitte

PWC

Accenture

IBM

Wipro

EY

Table 1: SIs by their blockchain practice

No More Proofs of Concept

Most Indian SIs have been developing blockchain solutions since 2015 and have invaluable insights from their successes and failures. With extensive experience in operation methods from tackling a multitude of projects, India’s SIs have both the technical understanding and the practical experience to take blockchain development to the next level. The majority of SIs we interviewed have only developed on expensive, permissioned blockchain infrastructures and want a more cost-effective and less time-consuming approach. They’re tired of working on proofs of concept that never mature to production and want a business-driven approach that can be directly worked into existing enterprise activities.

All of these SIs agreed:

  • There’s great value in a permissionless solution

  • Corporate-grade tech support is a must for their dev team’s success

We had deep discussions about the addition of permissionless validators and the potential to improve network security without exposing private data. We discussed the shortfalls of the current blockchain infrastructure comparing the differences in structures. One thing that rang clear across these conversations is there’s infrastructures today will see a gradual move towards permissionless networks as the need arrives.

A Varied Experience with Blockchain 

There’s a very real, repeated pain SIs are experiencing with existing solutions when it comes to scaling, cost and moving past multitudes of unused proofs of concept. Globally, a major part of enterprise blockchain development is happening in India. Permissioned solutions tested in India are creating frustration with cost, scalability, and SIs have enough understanding of blockchain to ask for better, permissionless solutions. Use cases are of utmost importance, and SIs do not enter any new partnerships without a clear business need for blockchain.

 

India’s blockchain development leaders are leading decision-making and engineering for enterprises around the globe. With a community of both open and knowledgeable SIs, India is positioned to boom as a dynamic and vibrant development hub.