Blockchain.info has done the partnership with one of the leading Indian bitcoin exchange startup based in Bangalore named Unocoin. Unocoin is an Indian bitcoin exchange & merchant payment processing company. the company is headquartered in Tumkur 70 km northwest of Bangalore with IT office in Bangalore, Karnataka, India in Sept 2016 Unocoin had raised $1.75 million in Pre Series – A round from renowned investors like Blume Ventures , Digital Currency Group , Boost VC , Funders Club , Mumbai Angels ,Huiyin Blockchain venture ,Future perfect venture to name a few.
Blockchain.info is one of the most widely used Bitcoin wallet worldwide & now because of this partnership Blockchain. Info’s Bitcoin wallet is now available for users in India to buy & hold their bitcoin.
In an announcement on 7 Sept 2017 Blockchain.info announced that it has integrated Unocoin within its wallet dash board which will enable Indian user to use Blockchain.info’s platform to buy & hold cryptocurrency. Unocoin will handle the local processing of the fiat transaction in India for blockchain.info users where the purchase will see Bitcoins bought & stored directly in the user’s Blockchain wallet, where the user holds private keys.
CEO of Unocoin Sathvik Vishwanath revealed the details of partnership as
“The entire idea is – whenever a customer buys Bitcoin through Blockchain.info, the bitcoin will get delivered directly to their blockchain.info’s wallet .a user will not be holding their Bitcoin balance with unicoin, where we control their funds. “
Out of 16.6 million users on blockchain.info wallet service, Vishwanath claimed that 1 million are from India . According to Unocoin, the number of Cryptocurrency wallet user will increase in India. The digital money & digital wallet got a major boost during demonetization, especially in the cryptocurrency.Cryptocurrency is based upon blockchain technology which majority of
Cryptocurrency is based upon blockchain technology which majority of the general public don’t understand but people also don’t know how the internet works but they make use of it, same as with cryptocurrency & blockchain technology. Block chain technology can make decentralized distribution & management of assets possible.
IDRBT (Institute for development & research in banking technology ) is a research wing of RBI (Reserve Bank of India ) is working on developing a blockchain based finance system & also had published some white research papers.& wanted to use block chain technology to solve finance technology problems .on Sept 1 RBI announced that it will soon launch a blockchain platform.
There is not a Country like India which has the highest current GDP growth rate in the world plus available IT infrastructure plus nascent market for digital currency & transaction make it one of the hottest favorite market for cryptocurrency & blockchain implementation.
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Article By Rohit Sangale