In an industry-first initiative, India’s largest public relations consultancy, Adfactors PR, has signed a Memorandum of Understanding (MoU) with India Blockchain Alliance (IBA) to foster conversations around Blockchain technology in India.
IBA is the most influential voice in the Blockchain industry. It is a not-for-profit organisation that promotes evidence-based adoption of Blockchain and Distributed Ledger Technologies (DLT) across public and private sectors. IBA is present in nine countries and has strategic tie-ups with global Blockchain bodies.
Adfactors PR is a market innovator in building new ecosystem partnerships that offer bespoke communication solutions to businesses on emerging technologies. The consultancy has industry-leading practices in Financial Services and FinTech sectors with 150-plus Indian and global clients in the space.
The global market of Blockchain is estimated to reach around $40 billion by 2025. Start-ups in Blockchain and Cryptocurrency have received nearly $100 million in investments during the first half of 2021, indicating growing interest of investors in the technology.
Blockchain is known for reducing costs, removing process inefficiencies, enhancing traceability of data and bringing transparency. The technology finds applications across public healthcare, finance, energy, supply chain, capital markets, insurance, real estate, media, law and social impact projects among others.
With this MoU, Adfactors PR and IBA will create a synergy among different stakeholders in the financial ecosystem, including businesses, industry leaders, technologists and academicians to mainstream conversations around Blockchain, DLT, and Cryptocurrency over the coming years.
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Adfactors PR Co-Founder and Managing Director Madan Bahal said, “Our constant endeavour to assist businesses in a rapidly changing world has resulted in the launch of several industry-first Practices, including New Economy, Frontier Technologies and Mobility. All of these Practices focus on driving communications around the future of our society. Adfactors PR is excited to partner with India Blockchain Alliance to drive industry conversation around yet another realm of technology that is core to reimagining the financial world and content disbursement in the coming years.”
IBA Founder Raj Kapoor said, “With this partnership, IBA and Adfactors will align to see an India that leads the world in the adoption of blockchain technology that has transformed the economy and society to achieve significantly greater competitiveness, efficiency, service quality, social engagement and employment. This partnership will support our vision to encourage the responsible adoption of blockchain technology by industry and governments across India as a means to drive innovation in service delivery across all sectors of the economy. ”
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