Global network for firms, investors, in blockchain’s decentralized finance enters India to back startups
DeFi Alliance, an international network of trading firms, venture capitalists, legal experts, and other service providers offering capital and mentoring to startups working in blockchain-based decentralized
Finance space .has now set up its India chapter. “As one of the last bastions of free internet, India represents opportunities and challenges for those building for the next billion users,” the alliance, which includes more than 150 companies including Coinbase, Volt Capital, CMT Digital, etc., said in a Medium post.The launch comes amid uncertainty over regulating the adoption of cryptocurrencies in India even as the country represents significant potential for use cases and applications of blockchain that range from trading cryptocurrencies to peer-to-peer borrowing and lending, compliance around anti-money laundering, know your customer (KYC) guidelines, etc., gaming, insurance, payments, and more.
Since early 2020, the alliance has supported over 50 startups globally and is now inviting applications from Indian startups for its fifth cohort. The accelerator programme offers support in ideation, capital, networking opportunities, guidance on regulatory best practices, developing fundraising strategies through events, etc. In April this year, the alliance had announced its China chapter followed by the Europe chapter for the European founders and other Western communities.
DeFi essentially refers to the public blockchain network-based decentralized financial system available to anyone as an alternative to the traditional and centralized system operated by a single governing body or a company. The alliance said that it is building a presence in India in order to facilitate access to not just capital but also guidance from the right blockchain ecosystem partners which can be crucial to early-stage startups.
Navigation of the regulatory landscape can be confusing for operators. There is also a massive opportunity to leverage the regional talent base to build products that can cater to a global audience. These are the opportunities the DeFi Alliance India Chapter aims to address,”.
Cuban said that during the pandamic, I gave zoom speech after zoom speech talking about when we look back at the pandemic in 10-20 years we would see world-changing companies had been created in 2020 and 2021. Among those companies, its already a certainty that De-Fi and other crypto organizations will be at or near the top of the list.