Through the Blockchain Hyper Hub, T-Hub will help to educate and engage entrepreneurs, corporates, government, regulators and investors.

T-Hub partners with CASHe to launch Blockchain Hyper Hub
Atom Blockchain Friday, December 01, 2017 - 16:16

T-Hub, India’s largest startup incubator, announced its Blockchain Hyper Hub in collaboration with CASHe on Thursday. The hub will look at co-creating Industry-grade blockchain-based solutions with startups from all over the globe. It will also focus on developing required talent to make these solutions future-proof.

Through the Blockchain Hyper Hub, T-Hub will create a platform to educate and engage the relevant stakeholders of the ecosystem which involves entrepreneurs, corporates, government, regulators and investors.

"Blockchain technology will lead to disruption across many industries including banking, entertainment, e-governance and land records making the processes more transparent and streamlined. Firms which incorporate blockchain will move away from the traditional hub-and-spoke model with no central authority governing them. This is a major transition and many businesses worldwide are exploring multiple use cases using this technology.  With the launch of blockchain Hyper Hub at T-Hub, we intend to create the right ecosystem to explore this nascent emerging technology,” Jay Krishnan, CEO, T-Hub said.

CASHe is an app-only lending company, which provides immediate short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm based machine learning platform. In April 2016, Aeries Financial Technologies, which runs CASHe, launched its technology-driven lending platform for the young, urban millennials.

Speaking on the launch, Mr. V. Raman Kumar, Chairman, CASHe said, “We are pleased to partner with T-hub for launching the Blockchain Hyperhub which will focus on new technology innovations within the FinTech ecosystem. India has a thriving fintech ecosystem and has the potential to catch up with its global counterparts. Blockchain, together with artificial intelligence and machine learning, are most likely to deliver disruptive outcomes and reshape the financial industry in 2018 and beyond. The purpose to launch this with T-Hub is part of our joint effort to engage with key stakeholders - government, regulators, corporates, entrepreneurs and investors to discover new innovations and applications in this space."

The announcement was made at the Global Entrepreneurship Summit 2017 in Hyderabad, where Aeries also announced that it has built a Smart Contract-based Distributed Ledger Technology on CASHe. The Distributed Ledger Technology allows the platform to record transactions in a secure and transparent manner by creating an immutable audit trail.

The platform has been designed to function as a shared infrastructure across customers, multiple external stakeholders, including regulators, credit bureaus and potentially other parties interested in participating in the distributed infrastructure.

According to a statement by the startup, the Smart Contract based Distributed Ledger records all lending transactions in an open and transparent manner, thus allowing CASHe and the borrower to execute a trusted lending transaction that is transparent and tamper proof.

The key innovation also involves tokenising the loan amounts borrowed by the customers into Smart Contract Digital Tokens, which are stored on the Ledger and accessible by the customer in the app. This means every rupee that is disbursed is automatically tokenized into a digital token. The user can monetize the digital tokens by transferring it to his bank account or can transfer the digital tokens to another CASHe customer or even a non CASHe customer who can, at their end, monetize the tokens with their respective banks 

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