HLC officially established the blockchain community in India

  • May 25, 2019
HLC officially established the blockchain community in India

In 2019, the global leading public chain project HLC was officially laid out in India, where the blockchain is a battleground. The new community that was just established, it has absorbed thousands of members.

According to the HLC Foundation’s plan, the HLC public chain has established more than a dozen node communities in East Asia, Africa, Southeast Asia and other regions. With the help of the international mainstream distributed encryption collaboration platform for community management and construction, the HLC community will realize the blockchain ecology of community building, co-governance and sharing in the true sense.

Since the construction of the HLC Indian community, short-term popularity has exploded. At present, the community members have already exceeded 1,000 people and are very active. This is closely related to the development of the Indian blockchain market. According to Allied Market Research’s “Distributed Book Market Types and End Users: 2017-2023 Global Opportunity Analysis and Industry Forecast”, the global blockchain market is expected to grow to $5.43 billion between 2017 and 2023. With a compound annual growth rate of 57.6%, Asia will grow at the highest compound annual growth rate (GAGR) in the world. In the next six years, India expects the growth rate to exceed 2000%, which means that the Indian blockchain market will grow 20 times.

It is understood that according to the HLC Foundation’s plan, a technology company in Bangalore, India, will soon become one of the HLC global test nodes on behalf of South Asia’s technology.

The Indian government has been at the forefront of using blockchain technology to try new financial services. The cabinet under Prime Minister Modi has announced the approval of the Export-Import Bank of India to work with other BRICS banks including Brazil, Russia, China and South Africa to study distributed ledgers. With blockchain technology, the Bank of India has set up a new department to study the regulatory issues of blockchain and cryptocurrency.

As a public chain perpendicular to the Muslim world, the HLC public chain has a special service group in India, which is nearly 200 million Indian Muslims. India has a well-developed Islamic finance industry. In the United States and other European and American markets, the main practitioners of Islamic finance are Indians. In practice, private banks such as India’s Credit Investment Bank (ICICI) have collected more than 250 companies for domestic and international trade financing transactions on their blockchain platforms; Axis Bank of India uses Ripple’s network for cross-border transactions and new customers. The application in the service has been tested.

2019 is the global public chain year. As a new representative of DAG technology, the development of HLC is in sync with the community. According to reports, HLC will open source at the end of June this year, while the Islamic economy as the core of the payment system, stable currency, asset certification, etc. in the global layout of the ecology, building communities, building a new generation of HLC public chain to support the Islamic economic ecology system.

According to the reporter said: The HLC public chain is based on the new distributed ledger DAG (Directed Acyclic) as the underlying technology to achieve high-frequency concurrent transactions under the premise of ensuring security and decentralization, which is highly compatible with the district. The application of blockchain technology in the financial sector has in particular solved the need for safe and efficient cross-border payment. According to statement, 56% of Indian companies have tended to use blockchain as part of their core business, and the areas where the technology is most frequently used in India are transfers, digital identities and payment infrastructure. With the advancement of HLC’s Indian community, HLC plans to help users in the Muslim region of northwest India contribute to the payment infrastructure and develop stable and efficient blockchain financial applications to boost the digital economy in India.

The HLC public chain is the world’s first public chain dedicated to serving Muslim countries and regions. It is used in Islamic financial products and services, halal product traceability, day class donation, property rights and heritage registration, and cultural education. Based on the new distributed ledger DAG (Directed Acyclic) as the underlying technology, high-frequency concurrent transactions are realized under the premise of ensuring security and decentralization. Advanced technology is combined with unique application scenarios to build an economic ecosystem across Muslim countries.