Monday, January 16, 2017

.@Belfrics launches its India #Bitcoin exchange in #Bengaluru today

Belfrics, a Malaysia-based blockchain technology firm, has launched its Indian Bitcoin exchange operations in Bengaluru today.  Belfrics, with its operations in multiple countries, will be providing a highly liquid marketplace for buying and selling of bitcoins in Indian currency. Blockchain is a public ledger that enables historical recording of all transactions that has occurred in a network in a way that it cannot be altered.

Belfrics CEO Praveen Kumar said, “The element of neutrality that the blockchain can bring to the financial system, without the involvement of an intermediary or a regulatory body, is going to redefine the way in which assets are transacted.” Belfrics will be partnering with public and private institutions in India to effect a large-scale blockchain adoption.

Indian bitcoin industry has been growing steadily in the recent months. With the demonetization event, the interest towards the digital currency has increased multi folds in India. Belfricsis set to tap the largely unbanked Indian population by providing a superior, yet simple peer-to-peer digital currency trading platform through desktop and mobile devices.

Belfrics also will be introducing POS and bitcoin payment gateway for online and retail merchants in India. Consumers will be able to transact in bitcoins with these merchants without any additional charges. Belfrics will be utilizing its international expertise in blokchain and decentralized application development to bring transparency, efficiency and neutrality in to the financial sector transactions.