Genesis DevCon mobilises 850+ aspiring Blockchain Developers from across India with its 1st Edition

The inaugural edition of India’s largest confluence of Blockchain developers, leaders, evangelists, and students - Genesis DevCon, 2019, concluded its two-day event in IISc, Bangalore with a footfall of over 850+ participants and 45+ speakers. The conference commemorated the concluding chapter of the Genesis developer program, which included a six-month-long hackathon with an objective to address the need to develop a rich pool of quality blockchain developer community in India.

The two-day conference included 20 tech talks, five-panel discussions and multiple workshops with eminent leaders in the emerging technology space. The speaker panel at Genesis DevCon covered a wide range of topics where blockchain technology is set to change the world as we know it: implication and adoption of blockchain in Artificial Intelligence (AI) and the Internet of Things (IoT), blockchain technology in the start-up ecosystem, FinTech and Supply Chain.

Some of the subject matter experts who shared their insights into the applications of blockchain technology were: Yanislav Malahov - Founder of the Aeternity Blockchain, (also known as the Godfather of Ethereum); Dilip Krishnaswamy - VP - New Technology Initiatives, Reliance Jio Infocomm Ltd; Avinash Pitti - CTO, Nucleus Vision; Sanjeev Narsipur - Managing Director-Blockchain, Accenture; Satya Lokam - Senior Researcher, Microsoft Research Lab.

Speaking on the success of the DevCon, Mr. Raghu Mohan, Co-founder, and CEO of IBC Media said, “The Genesis DevCon is truly the genesis of our efforts to create a cohesive blockchain ecosystem in India. It is great to learn and understand the ways Blockchain can redefine how we interact and do business and can enhance business outcomes. We truly believe this can be a powerful platform to bring synergy in the ways in which blockchain is adopted in India. We are thankful to all our sponsors and partners for helping us put together the brilliant two days of pure learning.”

The conference also saw the launch of the Global Starfleet Accelerator program by Aeternity Ventures for early-stage blockchain companies in India, opening more opportunities to the blockchain developer community in India, second only to the USA, in the world. Companies who complete the program qualify for a chance at a receiving direct investment from AE Ventures.

Nucleus Vision, an IoT & Blockchain technology-focused company in the retail industry, also launched their GIDC (Global Identity and Consent) blockchain network for consent-based data access management that allows users to control access to their data at the Genesis DevCon, 2019.

About IBC Media:

IBC Media, co-founded by Raghu Mohan, CEO and Kaavya Prasad, COO in 2018, strongly believes that Innovators are the key factors that decide the future and by enabling them to overcome their obstacles, we aim to pave the way for Socio-Economic progress in India. After identifying an evident lack of awareness and a surplus of underutilized talent when it came to emerging technologies and through painstaking trials and errors, IBC Media has discovered a number of effective ways to inspire awareness, adoption and innovation. Our last year has been studded with some rewarding milestones like Asia's largest Blockchain conference, The Genesis Developer programme, partnerships with multiple state governments, an association with the Policy Think Tank of the Government of India, and we're hungry for more. Simply put, if you're an innovator looking to reach the top shelf, we've got the ladder.

Ahmedabad-based Techcronus Launches Blockchain-based Cryptocurrency Mobile Wallet App

Ahmedabad, Gujarat-based Techcronus Business Solutions, a Blockchain app development company, has launched a Blockchain based secure cryptocurrency Mobile Wallet Application.

Developed using Swift for Native iOS platform and Java for Native Android platform, the cryptocurrency wallet app allows users to send and receive cryptocurrencies in a secure and easy way.

Currently, the app supports Ethereum and Bitcoin currencies with more currencies being added in upcoming releases.Users can also buy Cryptocurrencies directly from the exchange by making payment in fiat currency.


Doing a transaction in this mobile wallet app is very easy. You just need to scan QR code or enter wallet address and enter the amount of coins to send/receive. You can checkthe transaction fees applicable for a transaction. All transaction details incl. address, amount, confirmations and block explorer link can be found in transaction history. Dashboard feature gives you a quick insight about your coin portfolio.

The wallet app has incorporated various security measures. For example, it is a multi-address HD wallet meaning that the user’s wallet address gets changed after every transaction for higher security. The application also offers a secure backup and restore functionality via 12-24 words seeds mechanism. For additional security, you can also use a PIN authentication, face or fingerprint unlock features of your phone.This app also supports multiple languages.

This app has been designed by following best practices of Blockchain application development and considering best user experience in mind. That is why it is considered as one of the Best Cryptocurrency Wallet App in the market. There is no doubt that this Cryptocurrency Mobile Wallet app will increase the stature of Techcronus as a cryptocurrency wallet development company all over the world.

Founded in 2010 by Shalin Shah, Techcronus is a global provider of Business Solutions and Custom Software Development services.

Source - Open PR

India Behind Only U.S. in Countries with Most No. of Blockchain Developers

In a business of software, Software engineers or developers are the builders of the digital world and just as traditional developers uses programming languages, blockchain developers too need to get comfortable with some different programming languages, such as Python and C++.

And, when it comes to Software and programming, India is undoubtedly the leader in producing large number of software engineers and developers. For emerging technologies like blockchain India is leading the race in this too.

According to Software developers market analysis, carried out by London-based blockchain consulting firm, Dappros, the United States and India are the leaders when it comes to absolute number of blockchain developers in the countries worldwide.

Top 10 countries by absolute number of blockchain developers

1. United States


2. India


3. United Kingdom


4. Canada


5. France


6. Germany


7. Netherlands


8. Australia


9. Spain


10. Brazil

Top 10 countries by relative number of blockchain developers (% of population)

1. Malta


2. Luxembourg


3. Singapore


4. Switzerland


5. Netherlands



6. Cyprus



7. Slovenia



8. Ireland



9. Estonia



10. Canada

However, it is to be noted that this does not mean that India & U.S. do not have skill shortage of blockchain developer because of very fact that these are absolute numbers and when one counts absolute number of something for a country it does not consider its proportion to its overall population size, or simply the saturation.

Thus, when it comes to how each country is saturated by blockchain developers in proportion to its overall population size, Malta, Luxembourg and Singapore are top three countries leading the list.

According to the report, while Malta has estimated 46 blockchain developers per 100,000 population, India on other hand has just 1 blockchain developer per 100,000 population.

The United States has 8 blockchain developer per 100,000 population while Singapore has 36, says the report.

Social networking and job website postings have been analysed for Blockchain, Ethereum, Solidity, Bitcoin and Hyperledger developer profiles.

The relative saturation of blockchain developers per country has also been analysed with a different set of countries taking leading positions in the ranking.

Full data and detailed report available here. The report provides further insights including full global ranking as well as heatmaps for world, Europe and Asia.

With No Regulatory Framework, India to Lose Over 80% Blockchain Developers

In India, IT giants -- from homegrown Infosys to the US-based IBM -- are all increasingly adopting blockchain technology for large-scale financial and non-financial transactions for their customers. However, it is also a fact that there is a scarcity of skilled blockchain developers in India.

In a recent report published in May this year, it was said that only 1 out of every 400 software developers in India can work on blockchain technology leading to setback of blockchain adaptation, which could potentially be the backbone of many large financial transactions in the country and perhaps can save millions when compared to traditional SWIFT or NEFT transactions.

On top of this, India do not have any regulatory framework for blockchain and the political priorities of the government is repeatedly procrastinating the release of framework any time soon. This in turn, is pushing the handful of blockchain developer to go for for brain-drain instead of "brain in drain".

According to a latest survey of over 100 developers, over 80% of blockchain developers in India will be forced to move abroad or work only on foreign projects if the government does not adopt a robust regulatory framework soon.

The research, conducted by Bangalore-based blockchain community, Incrypt, over a period of six months focuses on how the current regulatory climate is affecting core development activity and blockchain entrepreneurship in India.

The survey has found that delay in putting together a framework for blockchain is causing India to lose out on jobs, drag in capital infusion, lack of innovation for local problems, talent flight, and setback in global positioning.

“Blockchain projects are creating new job categories, leading to hiring more fullstack, front-end and back-end engineers globally,” said Nitin Sharma, founder of Incrypt. “At a time when IT services industry is losing jobs, India needs to move fast in putting in place appropriate regulations to manage risks and attract global investment in blockchain.”

It is to be noted however that in February this year, the Indian branch of the global job site Indeed reported that the number of job postings related to cryptocurrency and blockchain has increased by 290%, along with its job searches containing crypto related keywords, which have risen by 52%.

The government’s lack of initiative has already forced many blockchain developers and startups shift their domicile to nations like Singapore, Dubai, Estonia and Switzerland that offer tax incentives and e-residency for startups, the report said.

The Reserve Bank of India (RBI), published a circular on April 6 notifying banks to stop offering services to exchanges and crypto-related businesses in India. This has taken a toll on blockchain entrepreneurs, developers, and exchanges in India. A committee formed under Niti Aayog is working on a paper to highlight the prospective use of blockchain technology. In following month, Indian apex court, the Supreme Court (SC) of India, also backed RBI decision by barring all high courts from filing petitions against Reserve Bank of India's (RBI's) cryptocurrency curbing circular.

According to the Incrypt paper, the notion that bitcoin or any crypto asset is not necessary to derive value of blockchain technology adversely affects the innovation ecosystem.

For instance, globally, there are thousands of open source and freelance job opportunities to support large public blockchain projects like Ethereum, Stellar, Neo, EOS, etc. There are also hundreds of emerging Initial Coin Offering (ICO) projects that need technical, marketing or advisory talent.

Many of these projects come with token based incentives. Which means, payments for working on these projects are often in cryptocurrencies.

“An Indian developer may be able to receive tokens but if there is no legal way to convert it into Indian rupees, a majority of prospective professionals may be deterred by the possibility that these incentives may be worthless in India or whether the government will consider their work noncompliant in any way,” the report said.

These tokens often come with a vesting schedule for employees. The government’s ‘Blockchain, not bitcoin’ approach is costing the Indian developer who is forced to go underground and deal in cash or other channels that may essentially be illegal activities.

In addition, tokens are also required in the testing and user validation phase of product development.

“The absence of users with such access or capabilities in India is already severely hurting the viability and ease of dozens of such projects in India,” Sharma said. “Existing regulators must realise that this will set India back by several years as far as core protocol or distributed app development is concerned.”

This has also caused a set back on the skilling front, as highlighted by hiring-solutions provider Belong Technologies. Only 5,000 (0.25%) of the 2 million software developers in India currently have the right blockchain skills.

On the capital front, the report stated that India is trailing behind in terms of VC funding for blockchain startups, with a minuscule $5.3 million raised in the last two years, as opposed to over $2 billion invested in blockchain equity deals globally.

The Bengaluru-based blockchain community also suggests that regulating fundraising through ICOs will significantly improve access to capital for early stage ventures.

The report notes that public blockchains are needed to unlock the internet of value. Incrypt said potential innovations of adopting public blockchains spans across micro grids, financial inclusion, asset quality and liquidity, health records, and data marketplaces.

Source - Economic Times

[Top Image - Jakt]

With No Regulatory Framework, India to Lose Over 80% Blockchain Developers

In India, IT giants -- from homegrown Infosys to the US-based IBM -- are all increasingly adopting blockchain technology for large-scale financial and non-financial transactions for their customers. However, it is also a fact that there is a scarcity of skilled blockchain developers in India.

In a recent report published in May this year, it was said that only 1 out of every 400 software developers in India can work on blockchain technology leading to setback of blockchain adaptation, which could potentially be the backbone of many large financial transactions in the country and perhaps can save millions when compared to traditional SWIFT or NEFT transactions.

On top of this, India do not have any regulatory framework for blockchain and the political priorities of the government is repeatedly procrastinating the release of framework any time soon. This in turn, is pushing the handful of blockchain developer to go for for brain-drain instead of "brain in drain".

According to a latest survey of over 100 developers, over 80% of blockchain developers in India will be forced to move abroad or work only on foreign projects if the government does not adopt a robust regulatory framework soon.

The research, conducted by Bangalore-based blockchain community, Incrypt, over a period of six months focuses on how the current regulatory climate is affecting core development activity and blockchain entrepreneurship in India.

The survey has found that delay in putting together a framework for blockchain is causing India to lose out on jobs, drag in capital infusion, lack of innovation for local problems, talent flight, and setback in global positioning.

“Blockchain projects are creating new job categories, leading to hiring more fullstack, front-end and back-end engineers globally,” said Nitin Sharma, founder of Incrypt. “At a time when IT services industry is losing jobs, India needs to move fast in putting in place appropriate regulations to manage risks and attract global investment in blockchain.”

It is to be noted however that in February this year, the Indian branch of the global job site Indeed reported that the number of job postings related to cryptocurrency and blockchain has increased by 290%, along with its job searches containing crypto related keywords, which have risen by 52%.

The government’s lack of initiative has already forced many blockchain developers and startups shift their domicile to nations like Singapore, Dubai, Estonia and Switzerland that offer tax incentives and e-residency for startups, the report said.

The Reserve Bank of India (RBI), published a circular on April 6 notifying banks to stop offering services to exchanges and crypto-related businesses in India. This has taken a toll on blockchain entrepreneurs, developers, and exchanges in India. A committee formed under Niti Aayog is working on a paper to highlight the prospective use of blockchain technology. In following month, Indian apex court, the Supreme Court (SC) of India, also backed RBI decision by barring all high courts from filing petitions against Reserve Bank of India's (RBI's) cryptocurrency curbing circular.

According to the Incrypt paper, the notion that bitcoin or any crypto asset is not necessary to derive value of blockchain technology adversely affects the innovation ecosystem.

For instance, globally, there are thousands of open source and freelance job opportunities to support large public blockchain projects like Ethereum, Stellar, Neo, EOS, etc. There are also hundreds of emerging Initial Coin Offering (ICO) projects that need technical, marketing or advisory talent.

Many of these projects come with token based incentives. Which means, payments for working on these projects are often in cryptocurrencies.

“An Indian developer may be able to receive tokens but if there is no legal way to convert it into Indian rupees, a majority of prospective professionals may be deterred by the possibility that these incentives may be worthless in India or whether the government will consider their work noncompliant in any way,” the report said.

These tokens often come with a vesting schedule for employees. The government’s ‘Blockchain, not bitcoin’ approach is costing the Indian developer who is forced to go underground and deal in cash or other channels that may essentially be illegal activities.

In addition, tokens are also required in the testing and user validation phase of product development.

“The absence of users with such access or capabilities in India is already severely hurting the viability and ease of dozens of such projects in India,” Sharma said. “Existing regulators must realise that this will set India back by several years as far as core protocol or distributed app development is concerned.”

This has also caused a set back on the skilling front, as highlighted by hiring-solutions provider Belong Technologies. Only 5,000 (0.25%) of the 2 million software developers in India currently have the right blockchain skills.

On the capital front, the report stated that India is trailing behind in terms of VC funding for blockchain startups, with a minuscule $5.3 million raised in the last two years, as opposed to over $2 billion invested in blockchain equity deals globally.

The Bengaluru-based blockchain community also suggests that regulating fundraising through ICOs will significantly improve access to capital for early stage ventures.

The report notes that public blockchains are needed to unlock the internet of value. Incrypt said potential innovations of adopting public blockchains spans across micro grids, financial inclusion, asset quality and liquidity, health records, and data marketplaces.

Source - Economic Times

[Top Image - Jakt]