bithumb india blockchain partnership

Prominent Korean crypto exchange, Bithumb, has plans to create a new blockchain platform, and it is currently searching for Indian partners to collaborate with.

Bithumb is coming to India. According to the major cryptocurrency trading platform’s recent announcement, Bithumb plans to develop a new blockchain platform specially designed for India and its growing number of crypto users. The project is named the Bithumb Chain, and it will be available for many Indian startups, companies, as well as the government itself.

It will allow them to create various blockchain-based products, services, and more.

Bithumb Searching for Indian partners

The project was announced only yesterday, in South Korea’s capital of Seoul, during the Bithumb Family Conference. The exchange’s Vice President, Vincent Poon, stated that the firm currently doesn’t have a partner in India and that they are willing to collaborate with any interested party.

Poon also stated that he sees India as a country with a lot of potential, and limitless possibilities when it comes to crypto and blockchain applications and use. Of course, India is still currently debating the legality of cryptocurrency, and it remains unknown where such debates might lead in the future. However, the situation seems a bit less tense when it comes to blockchain technology.

In fact, Poon stated that India’s developer talent is nothing short of impressive, especially when it comes to blockchain technology and its applications.

What will the Platform Deal With?

For now, Bithumb has not revealed technical details regarding the platform. However, Poon stated that the project would let developers integrate their own projects with it, without having to ‘reinvent the wheel’ to do so.

Furthermore, there still remains the matter of the country’s stance towards cryptocurrency. Poon noted that India’s government has yet to pass a bill that would ultimately decide the fate of crypto within the country.

He also stated that Bithumb’s new platform would be useful for many different industries, and adapted to various use cases. Right now, they are still in the early stages, and the company is looking for someone to partner up with and let them use Bithumb Chain as part of their products.

As for Bithumb itself, it still has no plans to start its own project in India, at least not before the future of cryptocurrency in the country is decided.

What do you think about Bithumb’s new project? Do you think that Bithumb Chain can help Indian companies adopt blockchain technology? Let us know your thoughts in the comments below.

Image via Bitcoinist Media Library

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