Aksharas software technology will help businesses manage the digital world better by automating complex processes.
The company, which is now listed on the Hong Kong Stock Exchange, will be the first company to offer blockchain technology to businesses in the country.
The company, founded by the founders of the Bitcoin-based Bitcoin exchange BTC China, is seeking a licensing agreement for the technology.
It will offer its platform for managing the digital life of businesses, including the sharing of financial data, payment, payment cards, identity verification, and security.
“Blockchain is not only about making money, it’s about managing digital life and digital identity,” said Akshars CEO, Shriram Krishnamurthy.
“With the right technologies, Akshkar can make money from every aspect of life, including financial transactions and identity verification.”
Krishnamurthys company, based in Bengaluru, has a track record of launching successful blockchain projects.
In 2015, it introduced the world’s first blockchain-based app, and in 2017, it raised $50 million from investors including JP Morgan and Softbank.
Its new blockchain platform will enable businesses to manage their digital life better.
Businesses will be able to use Akshas platform to create a digital record of transactions, manage their finances, and securely store financial data.
The platform will allow businesses to integrate a digital ledger with their physical records.
They can then share financial information and payments securely.
“Our platform will also help businesses to increase revenue by allowing them to transact with their customers without going through intermediaries, which will be a big boon for the economy,” said Krishnamirath.
In 2016, the company introduced its Blockchain-powered digital financial app, the world first to integrate the blockchain technology with its physical records, and to have raised $1 billion from major investors.
The platform has been used to manage millions of transactions with customers in China and India.
Akshara’s platform will help businesses manage their financial lives better by allowing businesses to create digital records of transactions and to securely store their financial data to ensure they don’t go through intermediates.
It will also allow businesses the ability to share financial data securely.
Aksha will be working with several partners, including major international banks and other companies that have experience in digital financial transactions.
The project has a total valuation of about Rs 1,300 crore ($1.3 billion).
Akshars digital technology will be integrated with existing Aksha platform software that has been licensed to the company from the Indian government.
The Aksha project will enable the business to share its financial information with their employees and customers, including by providing the ability for users to see how much money is being deposited and when, with the ability of creating a dashboard for customers to track their financial status.
The technology will also be able streamline the process of establishing financial relationships.
It can be used for setting up customer accounts and checking the identity of customers, for managing payroll and income, and for managing payment and other accounts.