Indian Blockchain Entrepreneurs Are Re-inventing Themselves for Survival

Last year several crypto exchanges had to shut their shops in India due to unfavourable government regulations and policies. Notable among them are ZebPay, Coinome, Koinex, CoinDelta and KoinOK.

Some of these made losses and disappeared from the crypto scene. But some like ZebPay moved their base out of India and went international.

Today, we get the news about Coinome that had shut down its Exchange business last month has relaunched itself into a different avtaar. It has moved from its earlier B2C model to the B2B sector to become an Enterprise level technology service provider in the blockchain space.

The first product they have launched is a multi-signature enterprise crypto wallet making it a very competitive offering to BitGo. It's services are currently priced over 2.5 times cheaper than BitGo's pay-as-you-go model. Its wallet supports over 100 ERC-20 coins as well as other top coins and 7 types of stable coins with other premium coins like EOS and XLM to be added soon. It has already acquired some international clients for its services.

This is what an entrepreneurship is all about. When faced with adverse circumstances, you shouldn't get disappointed and frustrated with the system but accepting it as a challenge, you need to re-invent to make the best of the existing market scenario.

But the test of its entrepreneurial spirit isn't over yet. With the recent leaks of the draft bill titled "Banning of Cryptocurrency and Regulation of Official Digital Assets Bill 2019", the impending possibility of a blanket ban on cryptocurrencies in India will be the next acid test for them.

May the entrepreneurial spirit survive and conquer all these!