Asian Blockchain Incubator, Satoshi Studios, Opens Applications
South East Asia has got its first blockchain incubator, and it’s initiated by the group behind GBMiners.com, considered to be South East Asia’s biggest bitcoin mining pool, and sponsored by Amit Bharadwaj. The incubator is apropos named Satoshi Studios and is welcoming applications from business visionaries working in the South East Asia area. The incubator has a 3-month serious habitation program in New Delhi, India, where the organizers will invest energy with the GBMiners group and other blockchain-based new companies and get fifty thousand US dollars in financing for 8%-15% value in the organization.
“Our vision is to build New Delhi as the Blockchain Knowledge Hub of Southeast Asia,” says Amit Bhardwaj. Talking on the theme, Amit said, “South East Asia and bitcoin adoption will be a very symbiotic relationship. The region is the world’s largest inward remittance market and also has the world’s largest unbanked population. There is so much potential in bitcoin’s adoption in the region, and the times could not be better for bitcoin adoption especially with the region’s largest economy’s biggest currency notes being demonetized recently.”
The Indian economy is experiencing intriguing circumstances, where the Prime Minister Modi as of late demonetised 500 and 1000 rupee currency notes, which framed a larger part of the paper money available for use in the nation. Additionally, the forceful Prime Minister is thoroughly pushing for a cashless economy.
In our discussion with the incubator’s prime supporter, Sahil Baghla, he said,
“We had been receiving a lot of interest from fellow entrepreneurs seeking feedback on their idea on the blockchain and some of the entrepreneurs we’ve met are building some really interesting applications on blockchain, and we wanted to work with them and see if we could get an opportunity to know and work with more of these geniuses.”
On being questioned about why focus on the South Asian region and not any other, Amit said,
“These economies have shared areas of impact from the blockchain technology and applications needed to solve their problems will be more or less similar. GBMiners’ access to blockchain-friendly investors will provide the necessary connections for the entrepreneurs to be able to raise capital from the right people in the region and also save them from reinventing the wheel.”
The group behind GBMiners has been developing forcefully. As of late propelled pool developed to wind up distinctly the second biggest pool outside China, and accumulate a pool of 65 Petahashes, in a traverse of under 3 months of dispatch.
Get the latest in Asian Bitcoin news here at Coin News Asia.