Startups, govt schemes may help boost blockchain momentum in new year

BENGALURU : Blockchain, the public ledger for online transactions, is expected to gain some momentum next year driven by startups, collaboration among the stakeholders, and government-led initiatives. The trend will shift from experimentation to actual use cases, at least to some extent.

According to a Nasscom Blockchain Report 2019, startups are involved in over 50% of the blockchain projects in India across different industries. While venture capital investments in blockchain startups have reached $5.6 billion globally, India has so far been able to attract only a small fraction (0.2%) of those investments, the report said. But the trend is picking up.

Draconis Capital Future Fund (DCFF) is investing $100 million in the next one year in startups related to blockchain and other emerging areas.