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Anand Mahindra Invests $1 Mn in Startup, that uses Steem Blockchain

Hapramp is Gurgaon based startup that operates 1Ramp.io, a social media platform powered by Steem Blockchain, Asteria Protocol and GoSocial, their social network.

Mahindra Group Chairman has invested One Million US Dollars (~7.5 Crore INR) into a Gurgaon based Startup Hapramp – working on technologies like blockchain and social media.

By now, most prominent mainstream media platforms in India have reported this story based on a syndicated news feed.

Anand Mahindra took to twitter to announce the investment, roughly two years after suggesting that he would want to invest in a Social Media Platform based in our home country – India.

“The Hapramp team is building a Web 3.0 social network. It is built on emerging digital technologies, has a solid business model which rewards content creators, protects personal data, and best of all, is built here locally in India,” Jaspreet Bindra said. Bindra is an ex-CDO of Mahindra Group and now Executive Advisor and Mentor to the Hapramp founding team. This statement is taken from the latest reports across mainstream media.

Jaspreet Bindra as many in the Blockchain space know is a huge evangelist of Web 3.0, Distributed Network, but no so much of Bitcoin. He writes and talks about Blockchain Beyond Bitcoin over several platforms and his TedX talks can be found on Youtube.

Hapramp has three products – flagship social networking solution GoSocial, 1Ramp.io, a social media platform powered by Steem Blockchain, and Asteria Protocol. Asteria Protocol will help platforms to privately and securely treat public data.

GoSocial allows users to take creative challenges designed by photographers, artists, writers, and designers and get rewarded for it. The Android app has over 50000 installs on Play Store, with an App Store version on its way.

Anand Mahindra who is not a fan of Bitcoin, has invested in a company that uses a Public Blockchain such as Steem, albeit only for one of the three products they built. This may as well be the beginning of an era where private companies build on top of Public Blockchain, while attracting investments from industrialists and billionaire investors.

Do you think Public Blockchain are here to stay and will attract Investment in India? Let us know in the comments below.

Disclaimer: CoinCrunch.in content is informational in nature and is not meant to be investment advice. Buying, trading or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their due diligence before making any decisions. © 2020 CoinCrunch
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