The Andhra Pradesh Government, in a bid to make Vishakhapatnam the blockchain capital of India, launched the Blockchain Business Conference yesterday. This flagship initiative by the Government of Andhra Pradesh marks the second leg of the Fintech Valley Vizag initiative that was started in March 2017, with the Fintech Spring Conference.
The two day conference will explore blockchain technologies, its applications and how it will impact the financial services industry. Regional and international experts, startups, corporates, regulators, entrepreneurs, policymakers and academics will be participating in this event. More than 50 startups from across the world will be showcasing their products and solutions in the fintech and blockchain domains.
Speaking at the conference, the Chief Minister of Andhra Pradesh, N. Chandrababu Naidu said, “I want to make Visakhapatnam not only India’s capital for fintech or blockchain technologies, it will be a center of excellence for the global community.”
ICICI Bank and Mahindra Finance also inaugurated two new accelerator programs at the conference which will mentor and finance 30 startup companies and help them in solving problems. The Government is also looking to triple the size of their Rs. 100 crores angel fund by bringing in co investors and domestic institutions. A Rs. 500 crores fintech fund will also be set up, which will function separately from the innovation focused angel fund. With a target to engage with 50 startups this fiscal year, the fintech fund will receive Rs. 100 crores from the government and the remaining amount will be raised from co investors such as the Small Industries Development Bank of India.
Along with the Chief Minister Chandrababu Naidu, Lokesh Nara, the IT Minister of Andhra Pradesh, Gulshan Rai, the Special Secretary of Cybersecurity and Prime Minister’s Advisory, Mr. Ravi Menon were the other keynote speakers at the event. Speaking about the disruptive blockchain technology, Lokesh Nara said Andhra Pradesh was the first state to use blockchain pilots and the technology has also been already taken up by the IT sector.
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How To Use WhatsApp Payments Feature In India
WhatsApp the online messaging service launched their payments feature on Sunday. The United Payment Interface, UPI platform, is now live on the iOS as well as on Android devices. It is interesting to note here, India is the first country in the world to get this feature! So far, this feature has only been made available in the beta version and will soon be made available in the updated versions.
With the introduction of the payments option, WhatsApp has become more than just a messaging service. The newly rolled out payments feature lets users transfer money to their WhatsApp contacts through the app. By introducing this feature, these UPI based payments feature is squashing all competition and other online wallets in India. Further, this feature also allows users to transfer money directly from their bank accounts to anyone instantly.
WhatsApp payments option is now available in two places on the app, settings option and below the attachment icon when you open a particular chat. It is very similar to other mobile wallets like Paytm, Mobikwick and Tez. However, WhatsApp payments app as of now does not support payment option for merchants. This feature can only be used for bank to bank money transfer.
* The foremost factor that the sender should keep in mind is that user’s WhatsApp number should be the same as the number linked to the bank account along with UPI option activated.
* Before using the payments feature the sender and the receiver must ensure both their phones have the latest WhatsApp version.
Is The Cryptocurrency And Bitcoin Era Over?
Cryptocurrencies saw a sudden rise in the recent times. At present, there are atleast ten popular digital currencies that are ruling the virtual currency industry, with Bitcoin standing on the top. However, despite reaching a high valuation of $ 20,000 in December, the value of Bitcoin dipped by more than 50 % on Friday.
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