Hashgraph Expands in India with State Carbon Bank and Web3 Initiative

The Hashgraph Group is gaining a presence in India as a worldwide center of blockchain development, business integration, and sustainable economic development.

Recently, in an HBAR Group podcast , CEO and Co-Founder Stefan Deiss and Head of Global Partnerships Anindya Roychowdhury outlined the strategic efforts of the company.

The discussion pointed out the importance of India as a crypto and blockchain adoption hub , talent, and the future carbon credit market.

How the Hashgraph Ecosystem works

Stefan explained the separation between the Hashgraph Association (THAA) and the Hashgraph Group (THG):

• THAA Group: A nonprofit organization that aims to develop the ecosystem, widespread implementation of Hideera, and community grants. It does not own any projects and is acting as a growth driver.

• THG Group: A commercial organization that was founded at the beginning of 2023 to commercialize Hedera-based solutions, fund projects, and enter business agreements with companies. THG is interested in sustainable business development and commercial viability.

This difference is made so that each organization can work independently but complement the goals of each other-THAA to adopt, THG to commercialise.

Why India is Central to Hashgraph's Strategy

• High Consumer Base: Due to a high population, it can support blockchain solutions that are volume-driven with low transaction rates and are fast processed.

• Digital Infrastructure: Government programs such as the Unified Payment Interface (UPI) are peer-to-peer transactions that can be blockchain-enabled.

• Talent Pool: the nation is the second-largest contributor of open-source Web3 developers in the world, after the United States.

• Potential Revenue: Expected to take up 5-10% of the global Web3 market by 2030, which would mean $100-200 billion in revenues.

Stefan pointed out that this country is a strategic place to conduct regional and global business due to its preparedness, talent, and infrastructural facilities.

The State Carbon Bank Initiative

This project with the Government of Maharashtra was a major subject of the discussion. This project is the first state-based carbon bank on the Hedera platform:

• The carbon market currently faces compliance regulations on high-emission industries, which have led to the demand for carbon credits.

• The site allows the efficient tracking, monetization, and sale of carbon credits.

• The platform can generate arbitrage opportunities with developed markets like Japan and the EU through the use of the low cost of carbon generation in India (approximately $10 per ton).

Such an initiative can become nationally significant in the carbon trade at the global level. Anindya emphasized the partnership with global companies and governmental organizations, which guarantees the availability of interested parties and customers to the site.

Other Indian Strategic Initiatives

Significant investments in education, partnerships, and investments. Hedera training programs are recognized by AICTE and Polyiversity and will certify 50,000 developers in five years across 30+ languages.

Strategic Partnerships

• KPMG India: A global hub of excellence in Web3, to implement Hedera solutions to KPMG clients around the world.

• Agnex Technologies: The most successful agritech company in India in terms of food traceability, co-invested with Novo Holdings. End-to-end supply chain tracking will be powered by Hedera.

• Circle of Games: A Web3 gaming startup, which was co-invested in with Nazara Technologies, took advantage of the escalating gaming market in India.

• Partnership with NASCOM: Training and certification on the NASCOM Future Skills platform with wide distribution and visibility.

Future Outlook

Stefan and Anindya also agreed that India is a long-term strategic hub of Hashgraph.  Hashgraph Group will become a global leader in blockchain innovation, sustainable economic growth, and enterprise adoption in the country.