Belfrics to establish blockchain centre in Visakhapatnam

Visakhapatnam: One of the fastest growing Blockchain Development startups in India, Belfrics Global, will open its development centre in Vizag. Belfrics will also set up Blockchain Academy, in association with Gitam University, in the port city. It signed an MoU with the Andhra Pradesh government on Thursday, which will help to develop AP as a fintech hub of India and the blockchain-based solutions developed by Belfrics will also help the government to run its day to day affair in a smooth and systematic manner.

Speaking on this development, Praveenkumar Vijayakumar, Founder & CEO of Belfrics Global said, “This MoU is a testament to our capabilities in developing blockchain solutions for the Indian market. We are expecting a 300 pc growth in our blockchain vertical in the year 2018, thanks to this MoU”. Special Chief Secretary and IT Advisor to Andhra Pradesh CM, J.A. Chowdary said, “The government of Andhra Pradesh welcomes Belfrics Global to setup their development centre in Fintech Valley - Vizag. We will work in association with Belfrics in creating the critical manpower required for the blockchain technology industry. The government will also be more than happy to provide the Proof of Concept (POC) for implementing blockchain technology in supply chain logistics, tender issuance and bidding. We are also excited for the launch of Belfrics Academy in association with Gitam University located in Vizag.”

Belfrics will be enabling the government to adopt blockchain technology effectively for the state to improve efficiency and automation of various government services. The startup will be working closely with the government for identity management, supply chain management, education, payment solutions and business automation. Startup is the new buzzword in business involving many youngsters who are putting in all their innovative thoughts into action.