A strategic agreement between T-Hub and XDC Network, a top enterprise-grade blockchain platform, was announced. With the help of this partnership, Indian Web3 startups would be able to grow faster by getting access to top-notch blockchain resources and technology.
Together, T-Hub and XDC Network will provide an incubation program that gives participants access to XDC’s technology, investment options, industry mentorship, and networking opportunities with leading figures in the blockchain space.
Indian developers and investors can readily use the platform as XDC Network is already listed on well-known Indian cryptocurrency exchanges including CoinDCX, Giottus, and Unocoin.
The Growing Traction of Blockchain in India
Adoption of blockchain technology in India could result in a large increase in job possibilities. As per a report by Nasscom, the blockchain industry is expected to yield $5 billion in income by 2024, leading to the creation of between 800,000 and 1 million employment in fields such as data analysis, blockchain development, cybersecurity, and smart contract creation.
With over 50,000 qualified blockchain developers existing in India and the country’s IT workforce expanding, the adoption of this technology could help India’s shift to a digital economy by increasing the employment rate in tech-related areas.
Furthermore, it is anticipated that sectors including finance, logistics, and healthcare would play a significant role in the expansion of blockchain-based employment.
By combining the greatest aspects of public and private blockchains, XDC Network’s hybrid blockchain platform will be the foundation for blockchain innovation and open access for Indian entrepreneurs building on it.
T-Hub hopes to position India as a pioneer in blockchain innovation through this collaboration, encouraging the creation of cutting-edge solutions for a variety of sectors, including digital assets, supply chains, and banking. The partnership is in line with T-Hub’s objective of helping entrepreneurs develop game-changing technology that can compete on a global scale.
The collaboration between T-Hub and XDC Network is consistent with the Indian government’s “Make in India” initiative, which aims to develop indigenous innovation and position India as a major worldwide hub for technology. This partnership intends to develop innovative goods and services that spur economic growth and creativity in a variety of industries by providing Indian companies with top-notch blockchain solutions.
XDC Network is recognized as a leading blockchain platform for trade finance, regulatory compliance, and digital asset tokenization. Its hybrid architecture delivers high transaction speeds, near-zero gas fees, and enhanced security, making it ideal for enterprise-grade applications.
XDC Network has a proven track record of success in global markets, with key achievements including its role in the UK’s first fully digital trade under the Electronic Trade Documents Act (EDTA) and partnerships with regulatory bodies like Singapore’s IMDA and the International Trade and Forfaiting Association (ITFA).
These milestones demonstrate XDC’s commitment to driving real-world blockchain adoption.
Key Comments
“Blockchain technology holds immense potential to revolutionize industries across the board. Our partnership with XDC Network will give Indian startups the tools and support they need to innovate, scale, and drive significant change,” said Mahankali Srinivas Rao, CEO, T-Hub. “This is an exciting step forward in our efforts to create a thriving ecosystem for Web3 innovation in India.”
“Our partnership with T-Hub is a major milestone in expanding the use of blockchain technology in India. By empowering startups with XDC’s cutting-edge platform, we aim to foster innovation and support the creation of impactful blockchain-based solutions that can transform industries and create massive job opportunities for youth,” said Sonny Mohanty, Head of Venture and Ecosystem building at XDC Network.