Hedera Expands Presence in India to Further its Vision As The Most Used, Sustainable, Enterprise-Grade Public Ledger for the Decentralized Economy

Bangalore : Hedera Hashgraph, the most used, sustainable, enterprise-grade public ledger for the decentralized economy, today announced the launch of the Hedera India Hackathon 2021, inviting young Indian minds to visualize and innovate solutions using the Hedera network services.

Launched in partnership with Lumos Labs, an innovation management firm in India, this hackathon spans four weeks and aims to encourage and empower innovators in the Web 3.0 space to ideate enterprise-ready blockchain solutions across three tracks – entertainment, sustainability, and finance. The hackathon invites developers who can develop innovative solutions utilizing Hedera’s services. The top three applications will be awarded prizes worth USD $5,000, USD $3,000, and USD $2,000 respectively, along with mentorship and go-to-market access support, and the top 10 projects that integrate their solutions utilizing the Hedera framework will receive $200 USD each. The hackathon provides an ideal opportunity for developers to ideate, build and launch applications that leverage the speed, security, scalability, and finality of the Hedera network while establishing connections with like-minded people and leading IT experts.

The Hedera Governing Council currently comprises 23 organizations from around the world and is the most diverse by sector and geography of any public decentralized network. Participating organizations are responsible for governing the network and operating nodes. The Hedera Governing Council has a robust presence in India and a strong commitment to the country, counting IIT Madras, Wipro, and Tata Communications as council members.

Earlier this month the governing council also committed 10.7 billion hbars (worth approximately US $32 billion as of September 24, 2021), to further the development of the Hedera ecosystem, and support developers and applications building on the Hedera network.

The hackathon will be broadly conducted in two phases- ideation phase, where the developers will need to brainstorm ideas and develop innovative and interesting use cases that use the Hedera network and services (including the Hedera Consensus Service and the Hedera Token Service), followed by the build phase where the use cases will be executed to real-life applications.

‘With the launch of the Hedera India Hackathon, we aim to enable developers and innovators to create solutions to real-world problems on Hedera’s decentralized network. From innovative startups to global enterprises, developers, entrepreneurs, and businesses are building fast, fair, and secure applications and decentralizing their future on the Hedera platform. We have seen tremendous interest from organizations and developers in India, and we hope that with this hackathon, we will continue to expand the Hedera ecosystem and adoption in this market.” mentioned Vignesh Raja, Director- Business Development (the Middle East and South Asia), Hedera.

“Sustainability has been the keyword in the blockchain space in the recent past and we at Lumos Labs are excited to enter into the world of sustainable decentralized economy through our partnership with Hedera and the Hedera India Hackathon 2021. We are delighted to provide developers in India with a platform to showcase their utility and innovations. We are delighted to be a part of this burgeoning ecosystem and look forward to getting a glimpse of a decentralized, sustainable world that Hedera network aims to create.” added Raghu Mohan, CEO, and Co-founder, Lumos Labs

Registration is open for developers and enthusiasts across India. For more details on the Hedera India Hackathon and the registration process, visit – https://www.hederaindiahackathon.com/

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