The Great Indian Blockchain Migration has begun
This comes on top of a trend where startups and companies from India anyway find jurisdictions such as Singapore and Ireland attractive for tax, startup funding, and other reasons.
What do you do when all those you interact with in your business are suddenly made out of your bounds? You search desperately for a place where transactions with your ecosystem are permitted.
That is precisely what actors in India’s blockchain ecosystem – developers, services providers, and other companies – are doing by moving bag and baggage to crypto-friendly destinations or at least seriously considering the option. The migration has been triggered by various moves of the Indian government to ring-fence all things cryptocurrency in the country as a result of which fledgling blockchain players here are looking for more friendly places.