Avalanche

<p>Ava Labs, the company behind the layer one Avalanche blockchain, is setting its sights on a significant expansion in India.</p><h2 id="header-0">Seeking out state agency partnerships</h2><p>The move by the New York-based blockchain development firm reflects the growing interest in blockchain technology within the world’s most populous country. Ava Labs outlined that it is actively seeking partnerships with Indian government agencies and institutions to facilitate the development of applications on the Avalanche (AVA) blockchain, according to a <a href="https://medium.com/avalabsofficial/ava-labs-accelerates-push-in-india-with-key-senior-hires-3f141feff2fc" rel="noopener noreferrer nofollow">blog post</a> published by the firm on Thursday.</p><p>While government and state agencies have not been terribly progressive when it comes to decentralized cryptocurrencies in India, they have been more receptive in terms of developing the underlying blockchain technology.</p><p>Earlier this year, the Royal Bank of India (RBI) <a href="https://medium.com/&#64;coinness.gl/rbi-official-encourages-indian-banks-to-adopt-blockchain-5f34a883600b" rel="noopener noreferrer nofollow">highlighted</a> the importance of adopting blockchain technology. Last month, an RBI-led initiative<a href="https://medium.com/&#64;coinness.gl/indias-npci-looks-to-recruit-blockchain-talent-a7fbfcb2366d" rel="noopener noreferrer nofollow"> emerged</a> through India’s National Payments Corporation of India (NPCI) to further explore blockchain technology relative to payment systems.</p><p>Indian government’s initiatives, such as launching a Centre of Excellence in Blockchain Technology, align with Ava Labs’ expansion strategy. Moreover, Indian states like Goa and Telangana have demonstrated a proactive approach to leveraging blockchain for real-world use cases, including land records and vehicle registrations.</p><h2 id="header-1">Recruiting local talent</h2><p>As part of its plans, Ava Labs has made a few pivotal hires to lead its operations and business development in India. Devika Mittal, formerly the Head of Token Listings for OK Group company Okcoin, and Kamakshi Arjun, who has held leadership positions at Polygon (MATIC) India and Tech Mahindra, have joined the team. Both individuals bring extensive experience in the blockchain industry to their new roles.</p><p>Mittal expressed her excitement about the opportunity, stating:</p><p>“I am so excited to help Ava Labs expand its reach and impact in the region, and am confident that Ava Labs is well-positioned to meet the demands of India’s large and growing population of tech-savvy individuals and businesses.”</p><p>Equally Arjun, with her understanding of the blockchain market, is expected to play a critical role in Ava Labs’ expansion strategy.</p><h2 id="header-2">Business development fund</h2><p>Mittal said in <a href="https://www.theblock.co/post/258257/ava-labs-avalanche-india-plans" rel="noopener noreferrer nofollow">an interview</a> with The Block that Ava’s operations in India would focus on several sectors, including ticketing, certification, and supply chains. She also highlighted the innovative features of Avalanche subnets. Notably, Ava Labs has a specific business development fund earmarked for India.</p><p>There’s a lot of activity within India’s blockchain ecosystem, with projects like Loco, an esports and live-streaming platform, leading the way. Loco is developing a range of Web3 products and pioneering innovative fan experiences using a custom Avalanche Subnet.</p><p>While Polygon Labs, the founder of Ethereum scaling network Polygon, operates on a fully remote basis, its <a href="https://medium.com/&#64;coinness.gl/polygon-labs-carries-out-management-team-reshuffle-bbeb1020647b" rel="noopener noreferrer nofollow">origins</a> can be traced back to India through its founders. One community member <a href="https://x.com/hmalviya9/status/1714880279578566990?s&#61;20" rel="noopener noreferrer nofollow">responded</a> to this latest news, stating that the Avalanche development team has a lot of ground to make up by comparison with the progress recorded by Polygon in India in terms of partnerships and business development.</p><p>Ava Labs is actively engaging with various prominent institutions and has already secured a partnership with a government agency, although specific details have not been disclosed.</p>

Avalanche Blockchain Developer Expands into India

Table of Contents

CoinNess Global

Other articles published on Oct 20, 2023

Lightning Labs Wants to 'Bitcoinize the Dollar' with Stablecoins – How Does it Work?

WuBlockchain Weekly: The Bitcoin ETF Fake News Incident, Meitu Plans to Sell Cryptocurrency, Ferr...

TRB Whale Initiates Large Transfer off of Binance: On-Chain Data

Perusahaan Crypto Ini Dituding Menipu Investor Setara Rp17,4 Triliun

Europe proposes crypto entity suitability guidelines

6-Year Trendline — a Formidable Obstacle, Will XRP Break It?

Join our free newsletter for daily crypto updates!