Cardano is back in the news with recent developments from one of its main three pillars, Emurgo. In this article we are going to go over Blockchain in India, what Emurgo is planning in India, and the overall marketing approach of Cardano.
Nothing should be considered as financial or investment advice. Enjoy the ride.
Blockchain Development in India
To no surprise, the blockchain movement has not only reached India, but caused a massive surge in developers switching over to Blockchain development from traditional engineering roles. Based on Emurgo’s findings, India has over 6 million qualified engineers currently and holds a lions share of the world’s IT services at over 55%. This sets India apart from any other country and gives it the infrastructure and talent to capitalize on the growing new market.
Andhra Pradesh, Karnataka and Maharashtra (Three independent states in India) have also launched several initiatives to implement blockchain for more transparent governance. (Additionally, the) State Bank of India formed Bankchain, a community of banks from India and the Middle East to incorporate blockchain in the banking sector.– Emurgo Blog
Despite the ban on cryptocurrency from the federal level bank system in India (central bank), the technology of blockchain has far surpassed speculative nature. State level governments, corporations, and universities in India are all joining in the blockchain movement to potentially make India the Blockchain capital of the world. If the U.S. is not careful, India could soon see a flux of companies headed their way pending they release proper regulation on the digital asset side of the market.
Emurgo Opens New Offices
Since February 2019, Emurgo has had a stable presence in India. It is a natural move for the company to target India seeing how it already had foot holds in Japan (Emurgo Hong Kong), Indonesia (Emurgo ID), and at the time a beginning spark in China through their partner company IOHK. In addition, the move to advance marketing and education into India was welcomed by open by Indians and the local governments.
Along with local support from Indian government officials and enterprises, EMURGO Academy will train developers and create blockchain experts to expand the usage of blockchain technology. This strategic business expansion aligns with EMURGO’s philosophy and mission to drive the adoption of the Cardano blockchain ecosystem.–Emurgo Blog
The most recent news about India marketing comes from a blog by Blockchain Andy who points out the further developments happening in the country.
The company is setting up an academy in Bengaluru along with five offices across the country, with the intentions to stimulate the blockchain sector in the country.
Emurgo will be opening their offices in Hyderabad, Chennai, Mumbai, Delhi, and Prune where they will hire local developers from the academy to keep up with the project’s momentum in the blockchain space.–Blockchain Andy
This is a strategic move for Emurgo. Essentially, Emurgo is educating developers in these specific regions by training them in Haskell, smart contract development, and Plutus. The purpose of the courses are to find talented individuals to hire, promote Cardano eco-system development, and further the exposure of the Cardano project.
Additionally, these courses are not to be taken lightly. Already a girl in one of the courses taught by the actual developer who created the Haskell language, found a bug in the new Plutus code base during a training session. Upon review, the teacher and Charles obviously decided to hire the girl and now she works full time developing for IOHK.
Let’s take a moment to go over each of the three pillars and what they are each focusing on currently.
Emurgo was originally supposed to only be the venture capital arm of the three pillars of Cardano. Now, it seems Emurgo is doing just as much developing as IOHK, and IOHK is doing just as much negotiating as Emurgo. Specifically, Emurgo has recently been in charge of developing and updating the Yoroi light wallet for Cardano, pushing the use of the ADA debit cards by partnering with BBQ chain, Tamura, in Japan, and spearheading adoption in the Indonesian and Indian markets.
The Cardano Foundation is working steadily on building a portfolio of partnerships with regulators and legislators around the world by joining regulatory discussion groups, summits, and Global Finance Teams. Their aim is to help cater and direct the upcoming international laws governments will create that will be used to navigate the blockchain industry.
Input Output Hong Kong (which is now U.S. based) has been hard at work pushing out the Shelly Test Net. The Shelly Test Net will be the first implementation before the mainnet of Cardano is released with staking, smart contracts, and Ourobours. Additionally, Charles has recently signed a deal with the country of Georgia to develop a new currency for their financial system, Lei Hao and Nathan Kaiser have made substantial progress into the Chinese market through universities, and Cardano has been listed on new exchanges like Kucoin.