The Spatium team just came back from the International Blockchain Congress in Hyderabad, India.
The Congress was headlined by Tim Draper, Ian Bolina, and a number of other influencers. There were senior representatives from local and national government and various organizations, illustrating that there is considerable interest in blockchain technology in India. In fact, at the Congress, they announced the creation of India’s first “Blockchain District” in Telangana State. It will act as an incubator and a hub for promoting the use of blockchain technology for the public good.
A number of the panels and talks focused on Indian investors. We noticed in India a large, underserved market with a tremendous opportunity for an unhackable wallet. In a country that for decades has been trying to create better identification documents for its citizens, a wallet with biometric authorization provides a secure access to assets any citizen can use.
Over 1,000 attendees stopped by our booth to ask how the Spatium wallet would work within Indian regulations and realities of the local market. When the Indian government demonetised two large bank notes in 2016, it raised a question of how Indian citizens can securely and permanently store their assets regardless of changes in government policy. Spatium wallet’s support for over 100 digital assets provides the convenience Indians seek. The wallet’s keyless security allows local users to protect their own assets without waiting for the government to form clear regulation and consumer protections for cryptocurrency ownership, which in India may still be years away.