Top 10 Best Blockchain Development Companies in India 2023
Blockchain development companies are businesses that specialize in creating and implementing blockchain technology for various applications. They offer services that typically involve designing, building, testing, and launching distributed ledgers, smart contracts, decentralized applications (DApps), cryptocurrencies, and other blockchain-based systems.
Here’s a more detailed list of the services that these companies might offer:
Blockchain Consulting: They provide advice on how the blockchain technology can be effectively applied in a business context.
Blockchain Development: They build custom blockchain solutions from scratch. This includes creating private blockchains, public blockchains, consortium blockchains, etc.
Smart Contracts Development: These companies develop smart contracts, which are self-executing contracts with the terms of the agreement directly written into code.
DApps Development: Decentralized applications are software that runs on a network of computers without a central authority. Blockchain development companies often have expertise in building these applications.
Cryptocurrency Development: They can help create new cryptocurrencies, which can be used for various purposes like ICOs, STOs, or as a medium of exchange in a particular ecosystem.
Blockchain Testing: To ensure that the blockchain system works as intended, these companies also provide rigorous testing services.
Integration Services: These companies help integrate the developed blockchain solution with the existing infrastructure.
Blockchain as a Service (BaaS): Some blockchain companies offer blockchain as a service, allowing customers to leverage blockchain technology without the cost or risk of developing it in-house.
Some prominent blockchain development companies include IBM Blockchain, Microsoft Azure Blockchain, ConsenSys, LeewayHertz, and Altoros. However, the field is rapidly changing, and new players may have emerged since then. Always conduct thorough research when choosing a blockchain development company to ensure they can meet your specific needs and have a track record of successful projects.
Why Blockchain Development Companies are important
Blockchain development companies play a crucial role in the widespread adoption and implementation of blockchain technology across various sectors. Here are several reasons why these companies are important:
Innovation: Blockchain technology is a novel and rapidly evolving field. Blockchain development companies are at the forefront of this innovation, constantly exploring new use cases and refining the technology.
Expertise: Blockchain technology is complex and requires a certain level of technical expertise to develop and implement effectively. Blockchain development companies have this expertise and can guide businesses through the process, helping them avoid common pitfalls and ensuring that the technology is deployed correctly.
Trust and Transparency: One of the main benefits of blockchain technology is that it can create systems that are transparent, immutable, and resistant to fraud. This can help to increase trust between different parties in various sectors, such as finance, supply chain, healthcare, and more.
Decentralization: Blockchain development companies help in building decentralized platforms and applications, enabling peer-to-peer transactions and reducing the reliance on centralized authorities. This can lead to more efficient processes and reduced costs in many cases.
Custom Solutions: Every business has unique needs, and blockchain development companies can provide customized solutions that meet these specific requirements. This can range from creating a new cryptocurrency to building a complex supply chain management system.
Facilitating Adoption: Many industries and businesses are still unsure about how to best use blockchain technology. Blockchain development companies can provide the necessary support, education, and tools to help these businesses understand and adopt this technology.
Security: Blockchain’s inherent security features make it an attractive option for industries that require secure, tamper-proof systems. Blockchain development companies can build these secure systems, protecting businesses from fraud and other security threats.
History of Blockchain Development Companies in India
The history of blockchain development companies in India somewhat mirrors the global trajectory of blockchain technology adoption, albeit with its unique challenges and opportunities shaped by the country’s regulatory environment and technological landscape.
Here’s a broad overview:
Early Stage (2008 – 2014): Blockchain technology was introduced globally with the launch of Bitcoin in 2008 by the anonymous entity known as Satoshi Nakamoto. However, its adoption in India was relatively slow during the early years. A few enthusiasts and early adopters started forming communities and companies focusing on Bitcoin and blockchain technology.
Growth Stage (2015 – 2016): As the potential of blockchain technology became more apparent worldwide, several Indian startups and established IT companies started exploring the technology. Companies like ZebPay and Unocoin emerged during this time, primarily focusing on Bitcoin trading. During this period, companies also started to explore the potential of blockchain technology beyond cryptocurrencies.
Expanding Horizons (2017 – 2018): The realization of blockchain’s potential beyond cryptocurrencies led to the emergence of several blockchain-focused companies in India, like Auxesis Group, Signzy, Primechain Technologies, and others. They began developing solutions in areas like supply chain management, finance, and identity verification. However, this period was also marked by regulatory challenges, as the Reserve Bank of India (RBI) imposed a controversial ban on banking services for cryptocurrency-related businesses in 2018.
Regulatory Challenges and Opportunities (2018 – 2020): The RBI’s ban led to a difficult period for blockchain and crypto companies in India. However, the ban was overturned by the Supreme Court of India in March 2020, leading to a resurgence in the crypto and blockchain industry.
Current Stage : After the lifting of the ban, there has been significant growth in the blockchain and crypto sector in India. India has become a significant player in the global blockchain scene. Companies like Polygon (formerly Matic Network) have gained international recognition. Many Indian IT services companies, including TCS, Infosys, and Wipro, have also started offering blockchain solutions.
It’s important to note that while the Indian blockchain industry has grown, it still faces regulatory uncertainty. The government has been considering various regulations around cryptocurrencies, which could impact the growth and development of blockchain companies. However, despite these challenges, the future of blockchain in India seems promising, with a growing talent pool and increasing adoption across various sectors.
Benefits of Blockchain Development Companies in India
Blockchain development companies in India provide a number of advantages to businesses and organizations around the world. Here are some notable benefits:
Cost-Effective: By outsourcing to India, companies can leverage cost-efficient services. The cost of hiring blockchain developers or a blockchain development company in India is relatively lower compared to Western countries due to the lower cost of living and wage differences.
Expertise: India has a large pool of tech-savvy professionals who are well-versed in the latest technologies, including blockchain. This vast talent pool allows companies to hire experienced blockchain developers or teams who can deliver high-quality solutions.
24/7 Services: Due to the time zone differences, companies can benefit from round-the-clock services. This ensures continuous productivity and faster delivery of projects.
Scalability: Blockchain development companies in India allow organizations to easily scale their projects up or down based on their requirements. This flexibility is particularly beneficial for startups and smaller companies.
Security and Transparency: With blockchain technology, transactions, and data storage become highly secure and transparent. This is crucial for industries like banking, finance, healthcare, and supply chain where data integrity is paramount.
Innovation: Indian blockchain companies are known for their innovative solutions. They are often at the forefront of implementing and experimenting with the latest trends and advancements in blockchain technology.
Regulatory Support: The Indian government has shown interest in blockchain technology and is encouraging its use in various sectors. This regulatory support can help companies develop and deploy blockchain solutions with fewer hurdles.
Quality Assurance: Indian blockchain development companies have strict quality control processes to ensure that the product delivered is of high quality and meets international standards.
Best Blockchain Development Companies
IBM Blockchain
LeewayHertz
OpenLedger
Consensys
Altoros
Blockchangers
Intellectsoft Blockchain Lab
ArcTouch
ChromaWay
Chain
IBM Blockchain
IBM Blockchain is a renowned leader in the field of blockchain technology. With their expertise, they provide various blockchain services and solutions to businesses across different industries. Here are some key offerings:
IBM Blockchain Platform: This is a comprehensive platform for developing, governing, and operating a blockchain ecosystem. It’s built on the open-source Hyperledger Fabric framework, which is hosted by the Linux Foundation. The platform allows for creation of private consortium blockchain networks where the participants are known and trusted.
Consulting Services: IBM offers consulting services to help businesses identify the potential of blockchain technology in their specific context. They provide guidance in areas such as business case development, blockchain choice, and solution design.
IBM Food Trust: This is a collaborative network of growers, processors, wholesalers, distributors, manufacturers, retailers, and others, enhancing visibility and accountability in the food supply chain. It is built on IBM Blockchain, delivering unprecedented trust and transparency.
IBM Blockchain Transparent Supply: This solution provides visibility, transparency, and efficiency across the supply chain, enabling businesses to trace the lifecycle of a product from origin to consumer.
IBM Blockchain for Trade Finance: IBM’s solution for trade finance streamlines the complex and often cumbersome processes involved in global trade. It simplifies the trade process, increases efficiency, and enhances security.
Blockchain Network Management: IBM provides tools and services for managing and operating blockchain networks. This includes setting permissions, managing membership, enforcing governance, and maintaining the health and performance of the network.
Education and Training: IBM also offers education services and training programs to help businesses understand and effectively use blockchain technology.
LeewayHertz
LeewayHertz is a software development company known for its work in cutting-edge technologies like blockchain, AI, and IoT. The company offers comprehensive blockchain services, including consulting, development, and deployment of blockchain applications.
Here are some of the key offerings and characteristics of LeewayHertz:
Custom Blockchain Development: LeewayHertz helps businesses build custom blockchain applications tailored to their specific needs. They work with various blockchain platforms like Ethereum, Hyperledger, Corda, and more.
Blockchain Consulting: The company provides consulting services to help businesses understand how they can leverage blockchain technology. They help with the ideation, feasibility assessment, and development of a blockchain strategy for businesses.
Smart Contract Development & Auditing: LeewayHertz designs and develops secure and efficient smart contracts. They also offer auditing services to ensure that smart contracts are free from vulnerabilities.
dApp Development: They specialize in decentralized application (dApp) development, creating applications that are open source, autonomous, secure, and operate with tokens.
Tokenization: LeewayHertz helps businesses create their digital assets or tokens using blockchain technology. This includes everything from the development of the token to launching an Initial Coin Offering (ICO) or a Security Token Offering (STO).
Supply Chain Solutions: They provide blockchain-based supply chain solutions that increase transparency, traceability, and efficiency in the supply chain.
Experienced Team: LeewayHertz has an experienced team of blockchain developers and consultants who have delivered multiple blockchain projects across various industries.
Industry-specific Solutions: They have experience in developing blockchain solutions for various industries like finance, healthcare, supply chain, and real estate.
Post-launch Support: Along with development, they also provide support and maintenance services post-launch to ensure the blockchain application runs smoothly.
OpenLedger
OpenLedger is a global blockchain development company that provides a wide range of services and solutions. They are known for their innovation and technical expertise in the blockchain domain. Here are some of the key offerings and characteristics of OpenLedger:
Custom Blockchain Development: OpenLedger helps businesses develop custom blockchain solutions tailored to their specific needs. They work with multiple blockchain platforms, including Ethereum, Hyperledger, EOS, and BitShares.
dApp Development: The company specializes in decentralized application (dApp) development. Their team is adept at creating scalable and secure dApps that meet the unique requirements of businesses.
Blockchain Consulting: OpenLedger provides consulting services to help businesses understand how they can leverage blockchain technology. Their consultants provide advice on how to use blockchain to solve business problems and create new opportunities.
Smart Contract Development & Auditing: OpenLedger offers services related to smart contracts, including their design, development, and auditing. They ensure that smart contracts are secure and work efficiently.
Token Development & ICO Services: They offer comprehensive services for token creation and initial coin offering (ICO) launch. This includes everything from designing the token model to marketing the ICO.
Enterprise Blockchain Solutions: OpenLedger develops blockchain solutions for enterprises that can help improve processes, enhance security, and provide transparency.
Blockchain Prototyping: The company provides prototyping services to help businesses visualize how a blockchain solution would work in their context before full-scale development.
Blockchain Integration: OpenLedger assists businesses in integrating blockchain technology with their existing systems and processes.
Maintenance and Support: Apart from development, OpenLedger also provides ongoing maintenance and support services to ensure the seamless operation of the blockchain solutions they deploy.
Consensys
Consensys is a leading blockchain software technology company that specializes in Ethereum, the public blockchain platform. Consensys offers a wide range of services and tools for developers, enterprises, and consumers, aiming to build an ecosystem that fosters the growth of blockchain infrastructure and applications.
Here are some of the key offerings and characteristics of Consensys:
Ethereum Expertise: As a company founded by Ethereum co-founder Joseph Lubin, Consensys has unparalleled expertise in Ethereum, one of the most popular platforms for blockchain applications.
Infrastructure and Developer Tools: Consensys provides various infrastructure solutions and developer tools like Infura, Truffle, MetaMask, and others that make it easier to build on Ethereum.
Enterprise Solutions: Consensys offers enterprise blockchain solutions through Consensys Quorum, an open-source protocol layer that allows enterprises to leverage Ethereum for their private or permissioned blockchain needs.
Consulting Services: Consensys provides strategic advisory and consulting services to businesses interested in exploring blockchain. They help with ideation, validation, build, and launch of blockchain projects.
DeFi Solutions: Consensys is heavily involved in the Decentralized Finance (DeFi) space, providing tools and services that enable financial systems to operate on the blockchain.
Ethereum 2.0 Development: Consensys is actively involved in the development and transition to Ethereum 2.0, which aims to improve the scalability, security, and sustainability of Ethereum.
Education and Training: Consensys Academy provides blockchain and Ethereum education, helping individuals and organizations understand and apply blockchain technology.
Blockchain as a Service (BaaS): Through Consensys Quorum, the company offers Blockchain as a Service, allowing businesses to build and manage blockchain applications quickly and easily.
Token Launch Services: Consensys assists in the design, development, and launch of tokens and tokenized assets, leveraging its deep understanding of Ethereum’s ERC standards.
Altoros
Altoros is a global software development company that has a strong focus on blockchain technology. They provide a full range of services to help organizations develop, test, and deploy blockchain solutions. Here are some key features of their services:
Custom Blockchain Development: Altoros helps businesses develop custom blockchain solutions tailored to their specific needs. They work with various blockchain platforms, such as Ethereum, Hyperledger Fabric, and Corda.
Smart Contract Development & Auditing: Altoros provides services related to the design, development, and auditing of smart contracts, ensuring they are secure, efficient, and free from vulnerabilities.
Blockchain Consulting: Altoros offers consulting services to help businesses understand how they can leverage blockchain technology. They assist with blockchain strategy, feasibility assessment, and solution design.
Blockchain Prototyping: Altoros helps businesses visualize their blockchain solution through rapid prototyping. This enables businesses to validate their concept before investing in full-scale development.
dApp Development: Altoros specializes in developing decentralized applications (dApps) that can run on various blockchain platforms.
Blockchain Integration: Altoros assists organizations in integrating blockchain technology with their existing systems and processes.
Enterprise Blockchain Solutions: Altoros develops enterprise-grade blockchain solutions that can enhance security, transparency, and efficiency in business processes.
Training and Workshops: Altoros provides blockchain training and workshops to help organizations upskill their teams and understand the technology better.
Ongoing Support and Maintenance: Altoros offers ongoing support and maintenance services to ensure the smooth operation of the blockchain solutions they deploy.
Blockchangers
Blockchangers is a Norway-based blockchain development company known for its expertise in the blockchain domain and its contribution to the development of the blockchain ecosystem in the Nordic region.
Here are some of the key offerings and characteristics of Blockchangers:
Blockchain Consulting: Blockchangers provides consulting services to help businesses understand how they can leverage blockchain technology. They assist with strategy, feasibility assessment, and solution design.
Custom Blockchain Development: Blockchangers helps businesses develop custom blockchain solutions tailored to their specific needs. They work with various blockchain platforms and technologies.
Smart Contract Development: Blockchangers provide services related to the design and development of smart contracts, ensuring they are secure and efficient.
dApp Development: Blockchangers specializes in developing decentralized applications (dApps) that can run on various blockchain platforms.
Blockchain Workshops and Education: Blockchangers conducts workshops and educational programs to spread awareness about blockchain technology and its potential applications. This also helps organizations upskill their teams and understand the technology better.
Proof of Concept Development: They help businesses develop proof of concept (PoCs) for their blockchain projects. This enables businesses to test their ideas and validate their concepts before moving towards full-scale development.
Blockchain Integration: Blockchangers assists organizations in integrating blockchain technology with their existing systems and processes.
Intellectsoft Blockchain Lab
Intellectsoft Blockchain Lab is a division of Intellectsoft, a digital transformation consultancy that provides cutting-edge engineering solutions for global organizations. The Blockchain Lab focuses on blockchain development and consulting, offering a variety of services to help businesses take full advantage of this transformative technology. Here are some of the key offerings and characteristics of Intellectsoft Blockchain Lab:
Custom Blockchain Development: Intellectsoft Blockchain Lab helps businesses develop custom blockchain solutions tailored to their specific needs. They work with various blockchain platforms like Ethereum, Hyperledger, and others.
Blockchain Consulting: They provide consulting services to help businesses understand how they can leverage blockchain technology. This includes everything from blockchain strategy development to feasibility studies.
Smart Contract Development & Auditing: Intellectsoft Blockchain Lab designs and develops secure and efficient smart contracts. They also offer auditing services to ensure that smart contracts are free from vulnerabilities.
dApp Development: Intellectsoft specializes in decentralized application (dApp) development, creating applications that are open source, autonomous, secure, and operate with tokens.
Token Development & ICO Services: Intellectsoft Blockchain Lab can assist businesses in creating their digital assets or tokens using blockchain technology. This includes everything from the development of the token to launching an Initial Coin Offering (ICO).
Blockchain for Enterprise: They provide enterprise-grade blockchain solutions that can improve transparency, enhance security, and streamline operations.
Supply Chain Solutions: Intellectsoft Blockchain Lab offers blockchain-based supply chain solutions that enhance transparency, traceability, and efficiency.
Experienced Team: They have a team of experienced blockchain developers and consultants who can guide businesses through every step of their blockchain journey.
Post-launch Support: Along with development, they also provide support and maintenance services post-launch to ensure the blockchain application runs smoothly.
ArcTouch
ArcTouch is a well-regarded software development company with a focus on mobile and connected experiences. It has expanded into blockchain development, providing businesses with decentralized technology solutions. Here are some of the key offerings and characteristics of ArcTouch’s blockchain services:
Custom Blockchain Development: ArcTouch helps businesses develop custom blockchain solutions tailored to their specific needs. They work with various blockchain platforms, including Ethereum, Hyperledger, and others.
Smart Contract Development & Auditing: ArcTouch provides services related to the design, development, and auditing of smart contracts. They ensure that smart contracts are secure, efficient, and free from vulnerabilities.
dApp Development: ArcTouch specializes in decentralized application (dApp) development. Their experienced team can create decentralized applications that are secure, scalable, and efficient.
Token Development & ICO Services: ArcTouch can assist businesses in creating their own digital assets or tokens using blockchain technology. This includes everything from the development of the token to launching an Initial Coin Offering (ICO).
Blockchain Consulting: They provide consulting services to help businesses understand how they can leverage blockchain technology. They assist with blockchain strategy development, feasibility assessment, and solution design.
Blockchain Integration: ArcTouch assists organizations in integrating blockchain technology with their existing systems and processes.
Experienced Team: ArcTouch has a team of experienced blockchain developers and consultants who can guide businesses through every step of their blockchain journey.
Post-launch Support: Along with development, they also provide support and maintenance services post-launch to ensure the blockchain application runs smoothly.
ChromaWay
ChromaWay is a blockchain development company known for its expertise in building blockchain solutions for both public and private sectors. The company focuses on providing innovative solutions and has pioneered the development of the relational blockchain. Here are some key offerings and characteristics of ChromaWay:
Custom Blockchain Development: ChromaWay helps businesses develop custom blockchain solutions tailored to their specific needs. They have expertise in various blockchain platforms, including their own Chromia platform, as well as Ethereum and Hyperledger.
Relational Blockchain: ChromaWay has introduced the concept of the relational blockchain, which allows for more complex and flexible data structures, enabling decentralized applications to handle more advanced use cases.
Smart Contract Development: ChromaWay offers smart contract development services, ensuring secure and efficient execution of business logic on the blockchain.
dApp Development: ChromaWay specializes in decentralized application (dApp) development. They create user-friendly and scalable apps that can operate on their relational blockchain platform.
Enterprise Solutions: ChromaWay provides enterprise-grade blockchain solutions, helping businesses in sectors like finance, real estate, and supply chain to leverage blockchain technology for improved transparency, security, and efficiency.
Tokenization: ChromaWay helps businesses tokenize assets and create digital representations of real-world assets on the blockchain. This can include tokenizing property, shares, or other forms of value.
Blockchain Consulting: ChromaWay offers consulting services to assist businesses in understanding and implementing blockchain technology. They provide guidance on blockchain strategy, solution design, and implementation.
Post-launch Support: ChromaWay provides ongoing support and maintenance services to ensure the smooth operation of the blockchain solutions they develop.
ChromaWay stands out with its focus on the relational blockchain and its ability to deliver innovative and tailored solutions to clients. However, it’s important to conduct your own research and consider the company’s past projects and client testimonials when evaluating their suitability for your specific needs.