Algorand Foundation, the entity behind Algorand blockchain, has expanded its presence in India through recent partnerships, including with NASSCOM, a trade association and advocacy group that primarily serves the technology industry across the country.
Algorand Foundation has also partnered with TiE Bangalore – the non-profit organization of global entrepreneurs – and Mann Deshi Foundation, a banking organization in India.
The blockchain protocol will support and build crypto applications with NASSCOM, and it also aims to develop a blockchain-based credit scorecard and identity application for the Mann Deshi Foundation. Algorand entered India earlier this year with its AlgoBharat initiative.
“In just a year, our strategic collaborations and innovative blockchain solutions with key players (in India) have pioneered financial inclusion, with the potential for impacting millions of lives in underserved communities,” said Staci Warden, CEO at Algorand Foundation.
The firm is working to broaden the blockchain developer base in India as well as seeking to build applications and use cases for millions of Indians, according to Anil Kakani, Algorand’s Country Head of India.
“We are not going to (Indian Government) regulators with recommendations but we are waiting for central bank digital currency to happen,” Kakani said in an interview. “We want to see how we can build on that but as a protocol. Our heavy focus is real-world utility.”