I8LABS: Commencing A Unique Approach In Product Development

Hailing from the financial domain, we as a team were always familiar with the key pain areas that the organizations in the sector were up against. Over time, clutching our experience, we built a business model projected towards healing those pain areas. It's not surprising that one of the key contentions in the area is reconciliation, as almost 50-60 percent of the work across finance revolves around reconciliation. This means reduction in reconciliation cost, which can be as high as 50-80 percent per transaction, can significantly trim the operational cost of financial organizations. This motivated us to create a business model wherein we work with banks, financial institutions, supply chain leaders and other intermediaries to reduce their operational cost and improve their profit margins.

10 Most Recommended Blockchain Startups - 2021

Aside from cryptocurrencies, it's remarkable to see blockchain technology stretching its footprint across several businesses. Since the technology is enabling businesses to reinvent their present use cases, entrepreneurs worldwide are now taking the front seat in developing innovative ideas that are capable of revolutionizing their respective business domains. Industries are now ardently looking forward to incorporating blockchain technology into their operations, and this contributes to its market growth, which is for ecasted to reach $394.60 billion by 2028, according to `Grand View Research, Inc'. The report also indicates that it's expected to grow at a CAGR of 82.4 percent from 2021 to 2028. The same is true for most Indian enterprises who are adopting Blockchain technology and making it a part of their core operation. At first, India's blockchain technology originally appeared as an up-and-coming technology in the IT sphere. However, this has changed since one of the primary drivers fuelling the market's growth is the increasing acceptability of cryptocurrency in the country. Blockchain technology is currently being used by commercial and central banks around the world to process payments and issue digital currencies. CIO Insider plunges deep into the Blockchain world and by examining the current trends and happenings, it serves the `10 Most Recommended Blockchain Startups - 2021'. The startups on the list have demonstrated exceptional proficiency in their operations, increased client engagements utilizing Blockchain, built integrated solutions, and, as a result, have contributed significantly to the industry's growth. A panel of specialists, including industry veterans and subject matter experts, CMOs, CEOs, analysts, and the CIO Insider editorial staff, scrutinised the following list (in alphabetical order).