India, eSamudaay, BSV Stories

BSV Stories Episode 8: India Jumps On The Blockchain Train

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

In this episode of BSV Stories, I take an inside look at one of the emerging e-commerce applications in a country that wants to use blockchain to bring power back to the people.

eSamudaay is an online marketplace focused on community empowerment. Unlike other e-commerce apps, eSamudaay allows sellers to create value for themselves by defining how the app works. For example, vendors can submit proposals and vote on which ones to implement. All decision-making activities are recorded on the blockchain, allowing for transparency within 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 Mahuri says that upon learning about Bitcoin SV (BSV), he is satisfied that BSV has the right tools to meet the requirements of eSamudaay.

“Because a lot of people are going to get ownership, we need a way to do these small transactions. I think BSV is doing it really well,” Mahori said.

For eSamudaay CEO and co-founder Anup Pai, it is the shared vision he shares with BSV that draws him to BSV the most. He believes in BSV and its intent to offer real-world use cases for institutional and government use — a stark contrast to other blockchains, which he says focus more on speculative use cases.

“I feel very confident that in a few weeks and months from now, eSamudaay will join the blockchain and use it for our use. It is about developing understanding, developing trust and a shared vision,” Mahuri noted.

On a recent trip to India, members of the BSV blockchain ecosystem sought to educate the Indian IT community about the power of the BSV blockchain. Speaking at a lecture in Kanpur, nChain Chief Scientist Craig Wright said he wanted to increase the level of knowledge of Bitcoin.

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

Despite the progress that India has made in exploring blockchain technology, the government continues to research the various blockchains available. As Professor Sandeep Shukla of the National Blockchain Project explains, “The question is what kind of blockchain could it be? Whether the permission is less or less depends not only on the technology issues but also on the government’s willingness to have the corresponding pros and cons or on the different methods.”

There is still a lot to learn within India’s IT sector when it comes to blockchain technology and BSV’s technology capabilities, but for Anup Pai and Ravinder Singh Mahori of eSamudaay, BSV is undoubtedly the preferred blockchain option.

Watch: Dr. Craig Wright’s lecture at IIT-Kanpur

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New to Bitcoin? Check out CoinGeek’s Bitcoin for beginners the ultimate resource guide to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and the blockchain.

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