Developers, Startups Lead Blockchain Revolution at Algorand India Summit 2024

India has one of the fastest growing blockchain ecosystems in the world, with over 1000 blockchain startups and the third-largest Web3 founder base. With a growth of more than 80% from the previous year, the ecosystem attracted an investment of over $460 million in just the first nine months of 2024. The Algorand India Summit brought together hundreds of Web3 developers, startup founders, investors, and thought leaders to explore and understand the power of blockchain-based solutions.

Under the theme of ‘Discover what a blockchain can do, the Summit showcased on-ground solutions already beginning to penetrate key business verticals, from supply chain tracking and traceability to trade finance, and from sustainability to financial inclusion.

Building on the momentum of last year’s summit, Algorand India Summit 2024 showcased the progress made in the Web3 space in just one year. Partnerships announced in Delhi at the 2023 Summit with reputed organizations including T-Hub, NASSCOM, Mann Deshi Foundation, Self Employed Women’s Association, drove rapid expansion in the number of developers and startups building on Algorand.

Staci Warden, CEO of the Algorand Foundation said, “This year’s summit was a sign of the incredible progress being made in India’s blockchain landscape. At Algorand, we are committed to enabling builders, entrepreneurs, and organisations to leverage blockchain for real-world impact. With initiatives like the Startup Lab and Road to Impact, we continue to see the Algorand blockchain being used to drive sustainability, transparency, and innovation in India and beyond.”