India’s fastest growing block chain companies to watch in 2021

VOL 08 | ISSUE 08 | 2021
Delivering Customized Blockchain Solutions
with a Quality-Driven Approach
Quest Global
Technologies
MR. ALOK AGRAWAL
(Co-founder and Director)
MR. ROMIL JAIN
(Co-founder and Director)
MR. MOHIT SOOD
(Director)
India's Fastest Growing Blockchain Companies to watch in 2021
ACCUBITS TECHNOLOGIES INC
Paving the way to a High-Tech World
Company of the month

Editor’s Note
lockchain continues to drive innovation across
Bthe globe, with companies looking for ways to
incorporate blockchain into their business
models. The last technology revolution led to
thousands of new technologies and businesses.
Blockchain seems to be behind the next wave of
technological development, including IoT, AI, AR, ML,
and industry-speciﬁc platforms.
Many of us have heard of bitcoin and other
cryptocurrencies being built on the blockchain
technology. But few people have a clear idea about
what blockchain is and how it works. There’s also a lot
of confusion regarding the difference between
cryptocurrencies and blockchain technology, which is
why if you see someone talking about “the blockchain”,
you shouldn’t assume that they are being completely
accurate.
In reality, blockchain is bringing about changes to the
way we do business, communicate, and live our lives.
The technology is creating a huge impact on the digital
world. It is an open-source protocol based on
decentralized software systems. This means that
RIDING
THE CLEAN,
TRANSPARENT
WAVES

transactions are secure, immune to third-party
manipulation, and everyone has access to the ledger
no matter where they are located. If we go by the
numbers, the distributed ledger technology is
predicted to grow at a stellar amount of CAGR of
55.8% by 2028.
The wide range of applications makes this technology
unique compared to others that are developed for
specific use cases like remittances, clearing house
settlement systems, digital gift certificates, etc. With
its unique features, blockchain technology can create
new value networks and disrupt many industries,
especially financial services where it allows peer-to-
peer transactions without the need for intermediaries.
Technology giants, such as Amazon, Alibaba, and
Google are in the midst of their own blockchain cloud
service. Meanwhile, many other companies worldwide
are rapidly applying blockchain technology in their own
industries. Consequently, the fast-paced innovations
of blockchain industry have attracted the attention of
investment communities worldwide.
In the near future, many core enterprises will adopt
blockchain on a large scale. In order to make
companies more competitive on a global scale, it is
clear that they need to be more proactive in using
blockchain technology. In addition to the current major
cryptocurrencies, there are a lot of companies that are
on the horizon and have strong potential for growth
during the next few years.
While it is impossible to predict which blockchain
companies will emerge as leaders, there are some
blockchain companies making waves. Let’s take a look
at the top growing blockchain companies right now.
Sayali Sangewar
Managing Editor
sayali.sangewar@insightssuccess.in

08
Delivering Customized Blockchain Solutions
with a Quality-Driven Approach
Quest Global
Technologies
08
C
O
V
E
R
S
T
O
R
Y

28
Softlabs Group
Driving Innovations in
Blockchain Technology
Tech-Set Go
Dynamics of Blockchain Technology in Cryptocurrency . . . . . . . . . . . . . . . . . . . . . . . 14
A R T I C L E S
22
Revolutionizing Technology
How is Blockchain Technology Helping to Revolutionize the Retail Sector? . . . . . . . . . . .
Accubits Technologies Inc
Paving the way to a High-Tech World . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Company
of
the
month
CONT
ENTS
26
bitsCrunch
Indexing All the World's
Blockchain Data

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Management Brief
Company Name
Jithin VG
Founder & CEO
Data Eximit
Vijay Pravin
Maharajan
CEO
Maxtra
Technologies
BitsCrunch
Nainesh Pandya
Founder
Accubits Technologies is a full-service software provider
offering product development and digital transformation
services to Governments, Tech startups, Fortune 1000
companies, and Businesses.
bitsCrunch is a Blockchain Analytics firm, focusing mainly on
building products using Artificial intelligence for the NFT
space.
Data Eximit consists of professionals with expertise in Web
Development, Mobile App Development, UI/UX Design,
M-Commerce, Blockchain Development, Digital Marketing
and many more.
Maxtra Technologies is a leading IT service provider company
in India. It is well known for providing IT Software and
Development solution with Agile, Waterfall & Iterative
methodology.
Accubits
Technologies
Shivendra Dwivedi
Founder
Oyelabs
Technologies
OyeLabs has expertise in Blockchain, IoT, Machine Learning/
Artificial Intelligence, Mobile Apps, and Web Apps.
Anurag Jain
CEO
Quest Global
Technologies
Quest Global technologies is an award winning company
which works on Blockchain, Salesforce, ERP Implementation,
Mobile App Development, Website Development and Custom
Software Development.
Mr. Romil Jain
Co-founder & Director,
Mr. Alok Agrawal
Co-founder & Director,
Mr. Mohit Sood
Director
Softlabs Group
Softlabs Group was established in the year 2003 with a view to
automate various business process and work with organisations
across the globe.
Mithilesh Bandiwdekar
Founder & CEO

Quest Glo
Technologies
MR. MOHIT SOOD
Director

bal Delivering Customized Blockchain
Solutions with a Quality-Driven Approach
MR. ROMIL JAIN
Co-founder and Director
MR. ALOK AGRAWAL
Co-founder and Director
Cover
Story

he leading blockchain companies provide huge
Tinnovation in the way companies operate. All the
traditional businesses are getting replaced by
innovated methodologies which are safer, secure customer
information, financial data and frauds. These companies
help their clients to reduce costs, generate funding, increase
efficiency and maintain and strengthen their internal
networking system so that no one would be able to hack
into it or alter or steal information.
These companies allow the clients to access the services
directly from the web and store the assets there. They are
also ensuring increased security; no external entity can
change the characteristics of the client’s network for their
own benefit. The renowned blockchain companies ensure
security and smooth operation.
One such noteworthy blockchain company, which is
changing the game is Quest Global Technologies (Quest
GLT). The company was incorporated in 2013 and is now
India’s leading software consulting and development
organization. It provides a quality-driven approach towards
Blockchain Development, Platform Development and
Software Automation. Its software has become the
backbone for innumerable billion-dollar organizations
across several industries and has won multiple awards for
its work. Some of the key projects are Caresource Health,
ShibaInu, RadioShack Swap, Smart Asset Managers,
Rowan Energy, Indian Aviation Academy, Dinar Dirham
Koin, KKOG, etc. which have earned more than 1000%
return on investment from the blockchain-based projects.
Return on Investment is of the utmost importance for Quest
GLT and it believes in delivering quick and efficient IT
solutions to help its clients scale up their business
effectively. It believes in long-term partnerships and all its
clients have been with it from start to finish. “Whether you
have your ideas or want to validate an idea, we are always
there to help you,” says team Quest.
With Data protection laws incorporated in various parts of
the world, User data security and privacy are the main
concerns for business enterprise, or government, and to
overcome this challenge, Quest GLT has developed such
reliable solutions with the implementation of blockchain
technology. Apart from that Decentralized Exchanges are
the latest innovations in Blockchain Industry. This allows
the user to exchange their assets without relying on trusting
other organizations for their hard earned assets. Developing
such solutions over the years for its esteemed clients has
helped it build an expertise in this niche market and gives
Quest GLT a leading edge over its competitors.
The team believes that the world is changing, and every
business is utilizing innovation to increase operational
efficiency and generate trust for their customers. Therefore
the dependencies on the secure, accurate, and reliable IT
Provider has become the necessity for every business. Team
Quest GLT is on a mission to help these small, medium, and
big enterprises grow and stay ahead in their industry.
Delivering Superior Blockchain-based Solutions
Quest GLT has deep knowledge of implementing
blockchain-based projects. It has developed and deployed
customized blockchain-based solutions. The company’s
experts have delivered Decntralized Exchanges, Zero
Knowledge Proof-based system, NFT Platform for Artists,
Ethereum-based concepts, like ERC20, ERC721, POA-
based ERC20, DAPPS, Stable coin, Binance Smart Chain,
hyper ledger, de-fi tokens, and customized wallets and
staking systems. Apart from Ethereum based offerings, the
company is also an expert in stellar, Tron, bitcoin, litecoin,
ripple, and customized blockchain applications.
IT industry is growing at a tremendous pace and so is the
competition. While working over the years, team Quest
GLT realized that in order to create a niche and lead the
industry, it will have to think out of the box. The company
believes that blockchain is an emerging technology and is
gaining popularity among the users and the organizations
because of its top edge data security and transparency.
It has realized that it is the need of the hour, and it could
change the way businesses operate. On the other hand,
Whether you
have your ideas
or want to
validate an idea,
we are always
there to you
help
“
“

where the competition was focusing on the existing
technologies to sell their products, Quest GLT trusted
blockchain technology and developed its expertise to gain
the fast movers’ advantage to lead the industry.
Insightful Leadership
Quest GLT is marching ahead towards excellence under the
dedicated stewardship of its able leaders- Mr. Alok
Agrawal, Co-Founder & Director; Mr. Mohit Sood,
Director and Mr. Romil Jain, Co-Founder & Director;
Alok Agrawal has over 15 years of Experience in Software
Technology. He has won quite a few accolades and awards
in his career including Tech Based Innovator Award,
Successful People from Global Herald TV Group,
Blockchain Impeccables Asia Pacific 2019 and has been
recognized by publications like Entrepreneur.com,
Yourstory.com, The Business Fame Magazine, Enterprise
Resource Planning Magazine etc. He also has been a part of
the Advisory committee to government of India under the
aegis of ASSOCHAM on Blockchain matters. Prior to
founding Quest Global Technologies, Alok worked for
Fortune 50 companies like HSBC GLT and United Health
Group.
Mr. Mohit is a specialist in finance field, having secured his
MBA degree from Birmingham City University (England).
An entrepreneur by heart, he successfully set up business at
a young age and then joined Quest Global Technologies
with his innovative management techniques. He has worked
on varied range of services and is currently leading the
company’s project deliveries. Mr. Mohit has an active
interest in playing guitar, football, and cricket.
A certified Global CMBS Analyst from S&P, Mr. Romil is
renowned for his dynamic interests and taking up
challenging assignments. His inclination towards finance
and research comes from his engineering background (BE,
Electronics & Communication) where he realized that every
new idea requires a viable funding and hence decided to
pursue MBA (Finance). In a short career span, he has
created four different teams, including counterparty risk
management analysis tool for S&P – London.
A Journey Filled with Challenges
Making the decision of starting their own business was the
biggest challenge for Mr. Romil, Mr. Alok, and Mr. Mohit.
The founders had secure corporate jobs in MNCs and
starting something new from scratch pulled their veins out.
“When we thought of entering in the space of blockchain
technology we were also a bit afraid that are we making the
right move or not as this was a very new technology and not
many people were aware about it,” stated the trio.
The management also had doubts about how they would
learn this technology or what if they got stuck in the middle
of the project because at that time not many documents or
study material were available. However, they believed in
the saying, “A dream does not become reality through
We believe
in delivering
innovative
to
IT solutions
help you scale
up your business
effectively
Our ready-to-use
are
solutions
robust yet
simple to use
and have
very fast
times
turnaround
“
“
“
“

magic; it takes sweat, determination, and hard work.” And
with their constant efforts, they were able to learn, master,
and expertise.
Surviving During the Pandemic
The management believes that the current pandemic
situation has changed the dynamics of doing business.
Almost every industry is affected by COVID 19; for Quest
GLT, it was a major challenge to ensure the safety of its
team and clients. Therefore, to provide the clients with no
hinderance in the delivery dates, it decided to make all its
operations remote. The company is working 100% from
home at the moment to ensure the safety of the teammates
and their families. To sustain in this current situation and
adopt the new changes, Quest GLT has been using various
collaborative tools which has made working from home
even more convenient and seamless.
Opinions about the Industry
Team Quest GLT believes that India is a developing
economy, and the way people are adopting technology is
really appreciated. “It is said that we are already five years
ahead in the technology adoption from where we were
supposed to be,” states the management. Seeing this, many
big industries have already started implementing blockchain
technology in their processes and with growing awareness
of using this secured technology, the management feels that
many small and medium businesses will also start adopting
soon. Also, the Indian government is in process of making a
policy for the use of blockchain technology and once this is
out, the implementation of this in government and private
sectors will help businesses grow many folds.
Advice to the Budding Entrepreneurs
Addressing the leaders of tomorrow, team Quest GLT states
that blockchain is evolving and has got a great potential in
itself. With the current changing situations and adoption of
digitalization, it has opened new doors to innovation and
those who are already working in this industry or are
aspiring to be a part of it will have a bright future.
Towards the Future and Beyond
Team Quest GLT believes that blockchain technology has
opened the doorway to a new world of possibilities. Every
industry whether it is banking, finance, healthcare,
entertainment, and so on can use this technology to make
their process stronger and even more reliable. “The best
way to scale your business is to identify a problem and
provide the solution for it,” states the management. It
further adds that the bigger the problem that you address,
the bigger is the opportunity to scale your business.
We believe
in long-term
partnerships
and all our
clients have been
with us from
start to finish
Since the systems
are already tested
and used
by clients,
several
you do not have
to about
worry
technology
“
“
“
“

Read it First
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DY N A M I C S O F
B LOC K
T EC H
Blockchain technology has been around for over a
decade now and it is slowly becoming an integral
part of our lives. It is the buzzword of the 21st
century alongside being the most-hyped innovation in
human history. The technology gave birth to
cryptocurrencies and introduced us to Bitcoin, Ethereum,
and Dogecoin, amongst others. Powered by Blockchain
technology, these currencies allowed users to conduct
crypto transactions anywhere in the world at any time. And
over the years, the number of cryptocurrencies on the
Internet has grown manifold.
In this article, you will learn more about the dynamics of
Blockchain technology in cryptocurrencies. You will ﬁnd
out about cryptocurrencies, the types of blockchain
technology, and the consensus algorithms involved within
AUGUST 2021 | 14 | www.insightssuccess.in

C H A I N
NO LOGY
i n C r y p to c u r r e n c y
T s g
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T E
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C
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LO
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B
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KC
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I
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it. In other words, it’s complete
coverage on everything under the
crypto-radar.
Definitions and History
Known as a public digital ledger
distribution technology, Blockchain
offers a clean, transparent way for
organizations and individuals alike to
conduct transactions directly without
having an intermediary third party such
as the government. The blocks in the
blockchain are linked together using
cryptography. What this means is that
each transaction can be verified by a
peer-to-peer computer network. The
transaction history is recorded using
the multiple blocks and also carries the
timestamp, forming the chain. Once
data gets recorded, there’s no way for
any user to alter it.
Blockchain technology has now been
serving digital transactions for over 10
years. A group of unknown persons
behind the cryptocurrency Bitcoin,
known as Satoshi Nakamoto
introduced Blockchain to the world.
Today, it carries the potential to be the
bedrock of the record-keeping digital
world and systems.
Types of Blockchain Structures
Primarily, there are two types of
blockchain structures i.e.,
Permissionless and Permissioned.
These two categories can be further
divided into four types: public, private,
consortium, and hybrid.
Any user can join the blockchain
network thanks to permissionless
blockchain. In this case, the user might
become a network node. Permissioned
blockchains, on the other hand, contain
just a few nodes to validate
transactions, making it impossible for
anybody to join the network.
Although the basic technology
underpinning multiple structures is the
same, the target end-users of the
various varieties of blockchain may
differ.
Public: The essence of a public
blockchain is permissionless. As a
result, anyone can join the network.
These, too, are decentralized. In this
case, all nodes have equal access to the
blockchain, the ability to produce new
blocks of data, and the ability to
validate existing blocks of data. The
public blockchain is mostly utilized for
bitcoin exchange and mining. Bitcoin,
Ethereum, and Litecoin are examples
of public blockchains.
Private blockchain: The public
blockchain is permissioned and
controlled by a single institution. In
this case, the authoritative body gets to
decide who may be a member of the
chain, and it can provide equal rights to
execute functions or not. Because
access is restricted, private blockchains
are only partially decentralized. Ripple
and Hyperledger are two private
blockchain examples.
Consortium blockchain: While
private blockchain is controlled by a
single entity, consortium blockchain is
controlled by a collection of
organizations. When compared to the
private blockchain, it has more
decentralization. The consensus
mechanisms in a consortium
blockchain are controlled by
predefined nodes. A validator node is
responsible for initiating, receiving,
and validating transactions.
Hybrid blockchain: Common to both
categories, a hybrid blockchain
combines elements of both private and
public blockchains. It is a type of
blockchain that is maintained by a
single company, but there is a public
blockchain that monitors performance
and does transaction validations. The
private component provides for the
control of certain data recorded in the
blockchain.
Consensus Algorithms - Proof of
work vs. Proof of stake
Aside from the various types of
blockchain systems, the cryptocurrency
industry is based on two key consensus
algorithms. These are proof of work
and proof of stake.
The two fundamental consensus
techniques that cryptocurrencies utilize
to validate new transactions, add them
to the blockchain, and issue new
tokens are proof of work and proof of
stake. The approach enables all
computers in a crypto network to reach
an agreement on which transactions are
valid.
Proof of Work employs a vast amount
of computational power to solve a
mathematically challenging puzzle,
which certifies transactions. This
system is protected and validated by
virtual miners from all around the
world. Miners in each network are
rewarded in the network's native coin.
When the value of a cryptocurrency
rises, more miners are enticed to join
the network, increasing its security.
Proof of Stake blockchain, on the
other hand, leverages a network of
validators who put their own crypto at
risk in return for the opportunity to
validate new transactions, update the
blockchain, and receive a reward.
The Future of Blockchain
Technology
While Bitcoin might be the most
popular implementation of blockchain
technology at present, many other
cryptocurrencies are based on this new
technology. While it remains to be seen
if cryptocurrency will overcome types
of traditional payment systems,
blockchain technology applications are
expanding rapidly, and its supporters
believe they will result in major
changes across sectors.
-Anmol Preet Singh

Paving the way to a High-Tech World
Business over the recent years has evolved
tremendously. Several factors are responsible for
this tremendous evolution of huge business firms
and one of the important factors among them is business
technology.
Business technologies such as Artificial Intelligence and
Blockchain development have propagated exponential
growth of the mega giants in the business. These
technologies have created an ease in daily operations for
big corporations to focus more on the intrinsic tasks and
expand at the same time.
Accubits Technologies Inc counts among one such names
that has made its mark by offering such disruptive digital
solutions to the companies. Situated in Vienna, Virginia, the
company is led by its Founder and CEO, Jithin VG.
The Visionary Genesis
Accubits is a full-service software provider offering product
development and digital transformation services to
Governments, Tech start-ups, Fortune 500 companies, and
Businesses. The company’s primary focus is on emerging
technologies that include Artificial Intelligence and
Blockchain technologies. It enables organizations
worldwide to embrace cutting-edge technology solutions.
Accubits helps organizations to be future-proof through
data-driven solutions for mobile, cloud, and web platforms.
Its vision is ‘to enable seven billion creative minds with
technology and innovations’. The company believes that it
is striding into the next phase of human evolution where
technology negates the human miseries and where humans
Jithin VG
Founder and CEO

can creatively work towards sustaining humanity. It
constantly focuses on innovation that gets this future closer
to humanity.
In January 2020, Accubits Technologies made its mission
announcement to launch the world’s first enterprise
blockchain satellite at The Space Technology Conclave
organized by the government of Kerala. The mission aims
to send a low earth orbit satellite, weighing 12 Kilograms to
space for establishing an enterprise blockchain ledger that
can enable a secure transactional network for next-
generation financial and IoT systems.
Quintessential Digital Business Solutions
Accubits offers a whole wide range of products and services
that make running giant businesses easier. Below listed are
the services and products that assist huge corporations in
sustainable growth.
A. Products
1. CoinFactory is a suite of platforms that includes
ICO/STO token issuance platform, whitelabel crypto
exchange platform, whitelabel NFT marketplace platform
and whitelable crypto wallet application. Coinfactory has
successfully launched more than 50 ICOs/STOs. Several
crypto exchanges use Coinfactory’s whitelabel exchange
platform.
Several NFT marketplaces use Coinfactory’s whitelabel
exchange platform and several crypto wallet apps use
Coinfactory’s whitelabel crypto wallet application.
CoinFactory helped Accubits to provide end-to-end support
for entrepreneurs who want to launch blockchain based
projects. Accubits is able to support them from token-
issuance to DApp development.
2. Accucerts is a blockchain based certification platform
offering digital traceability of the certification process for
reliable and authentic certifications. It enables academic, as
well as corporate organizations to boost their credibility by
issuing certificates that cannot be forged. Certifications
powered by Accucerts are registered on a blockchain,
cryptographically signed, tamper-proof, and shareable.
S-VYASA, the first-ever yoga university in the world,
partners with Accubits Technologies to globalize Yoga by
making its courses accessible all around the world, using
Accucerts.
“ “
To enable seven
billion creative
minds with
technology
and innovations
3. RebuildTheChain is a pandemic management system
that can enable governments to effectively curb the
pandemic with large scale and automated contact tracing,
exposure analysis, spread probability analysis, self-
diagnosis, and case management. It also facilitates a digital
health card-based access system that can help governments
to revive the struggling economy.
The Government of Cameroon is all set to launch a
pandemic management system in its effort to curb the
spread of the COVID-19 pandemic. The government has
signed a contract with Accubits Technologies to use the
latter’s pandemic management system software.
The software named RebuildTheChain enables government
agencies to effectively curb the spread of any man-made or
natural outbreaks, epidemics or pandemics, to protect the
citizens and the social and economic fabric of the country.
The platform uses Blockchain technology to issue Digital
Health cards. The system assigns health cards to a user
based on their recent activities, such as the places they have
visited and the people they have interacted with, etc. The
health card indicates the threat level of a user in five
different colour codes.
4. Emotyx is an AI-powered real-time video analytics
software that enables businesses to harness intelligent
insights from CCTV videos. It enables businesses to
automate security surveillance, customer and crowd
analytics, people and vehicle counting, facilities tracking,
heatmap analytics, and much more.
Company of the Month

5. Searchyf is an AI-powered analytics solution for
multimedia content. It allows you to pinpoint multimedia
content that matches specific conditions, enabling you to
search within their multimedia resources.
6. REIWAS enables pharma companies to automate the
process of Regulatory Change Management. It helps you
grow your business faster by processing compliance
verification 60 times faster with 100% accuracy. REIWAS
enables you to free up human resources from the
monotonous job and enable them to engage in more
productive tasks.
B. Services
1. Blockchain Development - Accubits is one of the
pioneering companies to provide custom blockchain
development as a service. It is a pioneer when it comes to
custom Blockchain solutions. The company is one of the
oldest and most experienced Blockchain developer houses
in India.
The experience that the company has in the field of
Blockchain technologies is immense. Over the past several
years, Accubits has worked with many reputed companies,
start-ups and enterprises around the world to make their
business more secure and efficient using Blockchain
technologies.
Accubits Technologies has won the Frost & Sullivan Award
for the ‘Most Promising Blockchain Consumer Application
of the Year in Logistics/Supply Chain’. The award was
presented at the 16th edition of the 2018 India ICT Awards
on June 21 in New Delhi, India.
When it comes to Custom Blockchain development,
Accubits is compared with IT company giants like IBM,
Accenture, Fujitsu, EY, etc. Several market research reports
recognize Accubits as one of the leading Blockchain
developers in the world along with these IT giants.
2. AI development - From tech start-ups to hospitals, the
company’s AI solutions help decision-makers across sectors
gain insights and knowledge that was hitherto undiscovered
in their operational ecosystem. Accubits builds the tools,
secures the channels, integrates the services, and scales-up
systems to help you set up a smarter business in no time.
To support its vision to empower humanity to be as creative
as it can be, Accubits Technologies has launched an
Artificial Intelligence (AI) research lab to accelerate
inventions and innovations in the technology and to push
the boundaries of AI. This research lab, named Accubits
Invent, is located near Technopark Phase 3 in Trivandrum,
Kerala. It will focus on creating new IPs and patents in
technologies such as Computer Vision, Natural Language
Processing, computational analytics, and Artificial Neural
Networks.
3. Robotic Process Automation - Accubits’ expertise in
Robotic Process Automation has helped several businesses
and organizations to reduce the requirement of manpower
and thereby, to yield higher profit margins. A few of the job
automation the company has done for its customers include
automated signature forgery detection for a prominent bank
in Indonesia, automated report generation for Tokio Marine
Holdings, etc.
It is a Platinum Business Partner of Automation Anywhere
– the most-deployed automation solution on Earth. It has
also established partnerships with leading automation tools
like Electroneek, Kryon to help its clients with tailor-made
solutions to automate their business processes.
4. Product Development – The company’s Custom
Product Development services help businesses drive results
faster with high performing products. Accubits’ engineers
and experienced developers help create rich products and
applications that help businesses drive innovation and
growth sustainably and edge out their competitors for
market dominance.
For satisfying the ever-evolving business needs of its
clients, the company uses the latest technology trends like
Fault-tolerant super scalable distributed system,
Heterogeneous programming, Real-time systems, Docker,
Adaptive designs, etc. to guarantee the best output for your
business solution
Overcoming Adversities
Accubits is one the first companies to provide custom
blockchain development as a service, the blockchain
developer community was not very vast. Availability of
skilled resources in the blockchain sector was a challenge to
the company. The company had to train resources from
scratch to meet its requirements, which accounted for a lot
of time needed for training and training costs as well, which
Accubits provided for.
Even though the pandemic caused the company to operate
in ‘work-from-home’ mode, it didn’t really affect operations

of the company. The support from the employees helped the
company grow even during the pandemic. As blockchain
related technologies such as DeFi and NFTs are booming
(during the ongoing pandemic phase), the company is able
to work with a lot more entrepreneurs and businesses
worldwide.
Outlook that Counts
In our conversation with Jithin, we asked him what his
advice would be to the budding entrepreneurs who wish to
venture into the blockchain management and services
sector, to which he replied, “A lot of companies scratch the
surface of the technology and make use of already available
libraries and codes, to build mediocre solutions and
products for their clients. Such companies don’t last far in
the game.”
“To be in the game, it is vital to have a strong tech team
with a deep understanding of the technology. Deep
expertise such that, if needed you should be able to develop
an entirely new blockchain protocol or a consensus
algorithm or a new blockchain altogether. So, my advice
would be you build a strong tech team with a strong
understanding about the technology. The rest would fall in
the right place at the right time,” expressed Jithin.
Towards a High-Tech Future
Talking about the vision and future goals of the company,
Jithin said, “I envision Accubits to be the leading company
in the world, that enables other organizations around the
world to embrace cutting edge technologies such as
Artiﬁcial Intelligence and Blockchain. I see Accubits as an
enabler, enabling the changemakers with technology and
innovations to solve the status-quo they want to change, to
make this world a better place. For all of us, for our future
generations,” concluded Jithin.
The Changemaker’s Quest
Jithin started Accubits Technologies (www.accubits.com),
an AI & Blockchain focused solutions company, with a seed
investment of 30,000 USD in 2016 and over a period of 18
months, he grew it into a multi-million-dollar business. He
believes that AI & Blockchain have the capability to
augment our abilities to innovate and push this world
forward for good. Accubits currently has its presence in 12
countries and works mostly with Governments and Fortune
500 companies.
Jithin has also co-founded Accubits ventures, a seed stage
PE fund focusing on AI & Blockchain start-ups through
which he has invested in eight companies over the period of
six months. He also started a Blockchain & AI research lab
in Trivandrum, Kerala, to push the frontiers of these
technologies. One of his companies -
Coinfactory(www.icoplatform.tech) has hosted 13 ICOs
and raised over $120 million USD for their customers so
far. He has also served as the advisor for several major
ICOs.
Jithin has also been featured in Entrepreneur.com as one
among Top entrepreneurs to look out for in 2018.

Revolutionizing

How is
to
THE
The retail industry is at a crossroads. It is
facing an unprecedented level of
competition that threatens to redefine the
way business has been done for decades. Numerous
instances of supply chain disruptions—the result of
natural disasters such as the pandemic, political
unrest, and various others—have called into
question the ability of retailers to stay open and
offer customers a steady supply of goods and
services. These ongoing situations have increased
public awareness and concern over the security and
stability of retail operations.
With key innovations in blockchain technology,
retailers can mitigate the above-mentioned risks
across the spectrum of goods handling to leverage
real-time information for more profitable, informed,
and immediate decision-making.

Concerns around security, however,
continue to be the primary concern
when it comes to adopting blockchain
technology. But retailers are finding
many other benefits in blockchain’s
ability to track transactions, buyers,
and sellers. As these systems mature,
more organizations might choose to
implement them instead of paying for
costly services individually.
The Essence of Blockchain
Technology in Retail
Blockchain technology is emerging as
the solution to many of the problems
faced by the retail industry. From
improving payment systems to
preventing counterfeiting, cutting out
intermediaries to speeding up supply
chains, blockchain is the answer.
Although still in its infancy, it has
already disrupted the status quo and
will continue to do so over the coming
years. For retailers, blockchain will
enable them to be more competitive by
accelerating transaction speeds,
reducing costs, growing loyalty
programs, improving transparency, and
strengthening security. By using
distributed ledger technology, retail
businesses can track and trace
cryptocurrency transactions, confident
in the knowledge that the information
has not been altered or compromised in
any way.
Improved Supply Chain
Transparency
To understand how blockchain can
help with retail and supply chain
implementations, there’s a need to
know more about its most significant
feature — the distributed ledger. This
enables all types of transactions and
business processes to be handled and
harnessed in a transparent and secure
manner by all concerned parties.
Retailers can use blockchain for
inventory management, product
tracking, store of value, etc. However,
one of the most common ways it is
leveraged by retailers is to eradicate
fraudulent transactions—the kind that
is incited by money laundering.
Privacy Across Data Streams
Blockchain technology can come to the
rescue as it has certain features that
ensure the security and privacy of
personal information. With the
technology, it is possible to store
information about users’ behavior and
consumer preferences on a shared,
decentralized ledger that is virtually
impenetrable. The immutability of the
blockchain makes it an attractive
option for retailers that want to record
and use such information efficiently
and securely.
Build Brand Value and Customer
Loyalty
Retailers are now more focused on
rewarding their customers with loyalty
points and rewards for patronage. As a
result, consumers are more focused on
getting more involved in loyalty
programs and using points earned to
make purchases.
When consumers participate in
customer loyalty programs, they will
have a library of virtual badges that
represent the number of loyalty points
they have accumulated from various
marketing channels. These badges can
then be integrated into other
blockchain platform services to build a
holistic ecosystem that engages
consumers and rewards them for
contributing value to the system.
Enhanced Logistics
Tracking a product from its source to
the final retail store can be a prolonged
and frustrating process, with
counterfeits causing severe losses to all
parties within the industry. Blockchain
allows for a level of transparency in
logistics that wasn’t possible before
given that no one has full control over
it.
Blockchain can also be used for trading
parts of intellectual property, such as
patents. The patent is tagged with
certain terms and once these are met,
payment is made to the seller of the
patent.
Payments and eCommerce
Retailers can accept cryptocurrency
directly from consumers. This does not
depend on any specific government or
central authority and is hence a very
secure payment method. It allows for
cheaper and faster transactions,
especially with micropayments since
the merchant won’t have to bear the
cost of the transaction fee.
The transactions also remain
transparent due to the use of
blockchain technology providing a true
history of all transactions that ever
occurred within the network. Thus, it
reduces the risk for merchants as they
don’t have to worry about double-
spending or chargebacks.
The application of blockchain
technology across various industries
has been increasing at a rapid rate. The
retail industry, in particular, is one of
the most affected sectors owing to its
presence online. The technology offers
cryptocurrency payments, smart
solutions for supply chains, and even
tokenization of assets. The most
important thing is that they offer
transparency to their customers. It’s
only a matter of time before retail
giants shift their focus towards using
blockchain solutions.
-Anmol Preet Singh

Blockchain technology incorporates security with the
ability to verify and allow transactions originated
by a trusted party as well as encryption while data
is being transmitted and stored. It provides transparency
about who has access, who is transacting and a record of all
the interactions. Blockchain is still very much connected to
the crypto world in the mind of many. And that is seen as a
world of bad actors, hackers, frauds, and speculators.
Indexing and querying blockchain data has become a
challenge for decentralized projects in the blockchain
ecosystem. Taking this dilemma into consideration,
bitsCrunch, was formed.
bitsCrunch is one of the top four AI companies in Munich,
Germany that excels in Blockchain technology and is
making giant strides in the blockchain ecosystem by
providing AI enabled securing services that protects the
ecosystem integrity.
The mission of bitsCrunch is to create impactful insights
from intricate data sources, by harnessing predictive
analytical systems which is empowering organizations with
actionable intelligence.
bitsCrunch's vision is to be the stakeholder of choice that
best understands the intersecting contexts of data,
technology and people generating tangible value in an
abstract digital ecosystem.
Read along to know more about how bitsCrunch is making
an impact in the crypto industry.
What are the distinguished set of products or services
offered by your company? Please elaborate on how it
has helped in staying ahead of your competitors.
NFT market is growing tremendously with its ability to
generate, sell and exchange numerous digital items, like
games, arts, sculptures, lands, characters, videos, music
which attracts many collectors, traders, and creative
assignments.
Trust is a primary barrier to adoption for the NFT
marketplace ecosystem. We are building AI products to
secure the ecosystem and increase adoption.
Our Products:
Crunch DaVinci
An AI model that flags forgeries, copycats and bootleg
digital art contents thereby protecting the artists and their
creations.
Scour
An AI agent that acts as a watchdog to flag the spoofing
transactions that manipulates both volume and price of the
assets in the NFT ecosystem.
Liquify
A fair value estimation and analytics for Digital Assets
(NFTs) using AI to empower the community to embrace
and value their assets in real-time.
Brief us about the featured person and their journey in
the blockchain services space.
Vijay Pravin Maharajan, is CEO at bitsCrunch | Data Story
Teller | TEDx Speaker | 20+ Inspiring Data Scientists to be
followed (AI Time Journal, USA) | ‘40 under 40 Data
Scientists’Awardee in India.
He is Specialized in Public Speaking, Blockchain, Data
Analytics, Data Science, Data Visualization, Machine
Learning, Artificial Intelligence.
How has the ongoing pandemic affected the operations
of your company? How are you driving your firm to
sustain its operations and ensuring safety of your
employees at the same time?
Current pandemic did not affect our operations, the reason
being we incorporated our business in the middle of the
pandemic. We are working remotely since the beginning
and thereby also ensuring the safety of the employees.
bitsCrunch
Indexing All the World's Blockchain Data
India's Fastest Growing Blockchain Companies to Watch in 2021

What would be your strategic approach to scale your
business in 2021 and beyond?
Our strategic approach to scale our business since we have
reached a bottleneck where employees are unable to handle
the workload and our leads continue to increase, is to
expand.
We are planning to increase the operations team to handle
work and help us on developing the products.
What would be your advice to budding entrepreneurs
who aspire to venture into the blockchain management
and services sector?
Get into blockchain as early as possible. We believe that
blockchain has the potential to change this world more than
the internet did.
Where do you envision your company to be in the long
run and what are your future goals?
We are already on our mission of indexing all the world's
blockchain data. We have indexed all NFT data on
Ethereum since its inception!
We would like to index diﬀerent blockchain data and would
like to be Ecosystem Guardians by providing our product
services.
Our future goals are to deploy our products in a phased
manner and provide solutions for the NFT marketplaces.
What is the current industrial scenario of the Indian
blockchain management services space?
Digital technologies are gradually entering all areas of our
lives. The impact of blockchain in the industries of ﬁnance,
identity, supply chain management creates more use cases
for enterprises, institutions, and governments.
We believe that blockchain will have a positive impact on
the fundamental principles of the systems that dominate the
world today.
Awards, Rewards and Recognition:
Our clients are Rarible, Covalent, OneOFF and
few others.
We are Runner up at Untitled NFT Hackathon
during the Oct 2020 event.
We were featured as Top 40 Startups at Web
Summit 2020.
We are winners at ETH Global Hackathon in
2021.
Get into blockchain as early as possible.
We believe that blockchain
has the potential to change
this world more than the internet did
“
“
Vijay Pravin Maharajan
CEO

Softlabs Group
Driving Innovations in Blockchain Technology
Mithilesh Bandiwdekar
Founder and CEO
So labs Group

Blockchain is the innovative technology that is
fuelling the growth of cryptocurrencies such as
Bitcoin and Ethereum. The field is evolving
immensely with every passing day. Speaking of Blockchain
technology, we came across this amazing Blockchain
Development Company, Softlabs Group. Founded in 2003,
it has been passionately helping companies of all sizes
globally to accomplish their digital transformation goals.
Using its vast experience of more than 18 years, while
comfortably adapting to global cultures and varying time
zones, it has created a rock-solid and robust development
mechanism as well as delivery models to serve its esteemed
clients.
With its extensive expertise in varied domains and deep
knowledge of Blockchain, it has successfully identified
used cases and delivered state of art Blockchain-based
solutions to its global customers in the respective areas.
Company Insights
Softlabs Group, founded in 2003 is a Global IT House
headquartered in India, having its offices in Sweden and the
USA with a strong partner network spread over different
continents. It has a global footprint and legacy of successful
deliverance of IT Solutions to various countries including
the USA, Canada, Sweden, UK, Portugal, Australia,
Singapore, South Korea, Zambia, Kenya, South Africa,
Israel, UAE, Saudi Arabia, and Oman.
The company has worked in diverse domains that include
Fintech, Infrastructure, Energy, Shipping and Logistics,
Retail, Education, Real Estate, Hospitality, Health care,
Pharmaceuticals, Diamonds, and Tourism.
It has been a pioneer in embracing the latest emerging tech
during every technology revolution over the last two
decades, be it Web Technology, Mobility, AI/ML, IoT, or
Blockchain.
Today, Softlabs Group is one of the top Blockchain
development companies in India, which has helped
companies across the globe successfully leverage and
implement Blockchain technology in various business
domains. It has developed Blockchain Solutions for several
industries including Fintech, Logistics, Healthcare,
Entertainment, Education, and Supply Chain. It has been
assisting them with enterprise-ready, cutting-edge
Blockchain solutions and services to integrate with their
existing business processes and garner higher technological
strength with promising ROIs.
Its objective is to surpass its proficiencies benchmark with
every single project and discover innovative ways to make
optimum use of Blockchain technology in its client’s
existing businesses.
Services Offered
Softlabs is a digital transformation venture specialized in
providing eminent Blockchain solutions such as,
Blockchain-based Electronic Health Records, Blockchain
and IoT based solutions in Clinical Trials, Blockchain-
based Smart Certificates, Blockchain-based Traceability in
the Supply Chain of Manufacturing, Agriculture,
Blockchain solutions for Insurance Companies,
Manufacturing and other Process Compliance Audit,
e-Commerce Escrow, and much more.
Apart from the mainstream use cases, Softlabs Group also
provides Crypto Services to Offshore Companies like
Cryptocurrency Exchange Development, Crypto Trading
Bots Development, Wallets Development, Smart Contracts
Development, Token Development, ICO/STO/IDO
Services, Decentralized Exchange, De-Fi Protocols,
assistance in running Blockchain Nodes and more.
It also specializes in Ethereum as well as other popular
Blockchains’ Layer 2 and Sidechain-based Solutions, which
are more scalable and cost-effective.
“
Blockchain is
solving the trust
issue of
businesses
worldwide
“
India's Fastest Growing Blockchain Companies to Watch in 2021

Dynamic Leader
Mithilesh Bandiwdekar is the Founder and CEO of
Softlabs Group, an India-based Global IT House. Along
with a core team of intellects in Softlabs Group, Mithilesh
has been studying and exploring Blockchain fundamentally
for its application utilities in different domains where
Softlabs already has detailed exposure.
Anticipating Blockchain’s future potential and applicability
in various areas, Mithilesh, along with effective
perpetuation of existing engagements and business
commitments, has also consciously developed a parallelly
aligned focus of Softlabs Group’s vision and its most fitting
resources on Blockchain.
Mithilesh and his team believes that every solution
available in the market today has a fair potential to get
relaunched in a decentralized form offering benefits and
empowering the hands of the users constructively.
Mithilesh, also very firmly believes that as a technology,
Blockchain is going to be the next revolution, larger than
the internet revolution of the 1990s. We have all witnessed
the phenomenon of the dial-up internet connection, with a
mere speed of 56 kbps from the outgoing decades of the 90s
and 2000s getting upgraded to the 4G and 5G generations.
Likewise, the Blockchain technology available today can
also evolve exponentially after going through a tremendous
overhaul of dynamic up-gradation and improvisation to
become established as the de-facto of the future.
Hurdles on the way
The biggest challenge while expanding the business in
Blockchain services was to understand and master
Blockchain itself. Blockchain is a combination of
technically intensive and complex concepts like
Cryptography, Peer-to-Peer Networking, Consensus
Algorithms, Virtual Machines, Language Compilers, and
Runtime Environments.
After humongous efforts aimed at understanding and
mastering Blockchain, the next challenge was to help the
customer getting acquainted with Blockchain basics and
have them comprehend and see how it would help
improvise their existing business processes leading to an
increase in ROIs. People were also confused about
Cryptocurrency and Blockchain. It took a while even for the
big conglomerates to be comfortable to acknowledge the
difference and the true power of Blockchain.
Acing the Pandemic
The pandemic did pose challenges initially while being
compelled to go into a remote working model as an
organization. However, that challenge also presented an
opportunity to devise mechanisms and tools for remote

work management while tracking the operations
productivity and transparency of the employees.
As a firm in IT business, unlike other industry or
businesses, it was easier for Softlabs to adapt to the
technological advancement. Its employees too, responded
well with 100% proactive cooperation in their
responsibilities while contributing to the consistent growth
process of the company. The pandemic has fast-tracked the
pace as everyone is going virtual.
On the other hand, the sudden economic shock, followed by
an even more expansive fiscal policy worldwide, has
propelled inflation concerns, causing many people to invest
part of their wealth into inflation-proof assets like Bitcoin
and other cryptocurrencies. Furthermore, the security
features and utilities of Blockchain technology helped
businesses to become more secure.
So, the sudden rise in Blockchain adoption and the demand
for Blockchain solutions in the industry encouraged more
companies to reach out to Softlabs, to discuss every
possible room for integration of Blockchain technology into
their business processes.
Business Tactics
Softlabs Group has been working on developing its own
Blockchain platform since 2020. It already has a reasonably
good number of clients worldwide using its Blockchain
solutions built on the prevalent, popular Blockchain
platforms.
Due to network congestion and ever-increasing gas fees, it
has become very difficult for its clients to continue using
these Blockchain platforms affordably, for their business
solutions. Softlabs Group is working on a sustainable model
of a Blockchain, which will be scalable with high
throughput and negligible gas fees for transactions.
Softlabs is developing a Blockchain platform that is easy to
adapt for companies with zero to minimum knowledge of
Blockchain technology. The Blockchain being developed by
Softlabs Group will be a user-friendly one, promising all
the existing features of Blockchain-like security,
encryption, decentralization, immutability, much to the
liking and understanding capacity of a layman, easy to be
utilized at a greater speed of execution at the same time.
In the first phase, the company will be integrating IoT
devices with its Blockchain in areas such as Electronic
Health Records, Traceability in the Supply Chain of
Manufacturing as well as Agriculture and Blockchain-based
commercial solutions for the Real Estate Industry.
Advice from the Best
Today, with the ever-growing global cognizance of the
power of Blockchain, the entire world is looking up to
Indian techies for Blockchain-based solutions. This is the
best time to shine, go full throttle on the Blockchain,
develop POCs and demonstrate them to potential client
companies and government bodies. Utilize the strength of
knowledge and contacts to penetrate different levels of
organizations to win their acceptance on Blockchain as the
future and bag the first opportunity from them to exhibit the
acquired skills and magic of Blockchain.
“My advice to the budding entrepreneurs in the Blockchain
space would be to capitalize on this globally booming
Blockchain revolution and use this as a well-laid,
progressive ramp to achieve not just their envisioned
success as entrepreneurs, but also to feel and live the
motivation of using the technology as a means to serve
fruitful utilities for the betterment of mankind,” says
Mithilesh.
Looking Ahead
Looking Ahead Softlabs Group has equipped itself with the
right team, right skills at the exact right time. It envisages
revolutionizing different industries and institutions globally
with its expertise in Blockchain. It aims to become like the
SAP in Blockchain space and cater to private and
government organizations across the globe.
Ongoing Activities
Any data stored and retrieved from Blockchain cannot be
challenged for mutation or manipulation. Massive
requirement of genuine data for training Machine Learning
Models, can be fulfilled by the immutable Blockchain-
based data sources.
Today the entire world looks up to Indian companies for
Blockchain-related assistance so the future for Blockchain
Services companies from India is very bright and it is the
best time for them to invest focused efforts and flourish.

India’s fastest growing block chain companies to watch in 2021

India’s fastest growing block chain companies to watch in 2021

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