Kingspin, a Malayali-driven UAE based blockchain start-up, launched in Kochi

Kochi: Kingspin Technology Services, a Malayali driven UAE based blockchain start-up has spread its wings in India with Kochi as an offshore delivery centre to expand its blockchain development team and also focus on other digital transformation technologies. This would make Kingspin the first UAE based blockchain company to start an offshore development centre in Kochi and that too with Keralites at its helm, said the company in a press release. The office is in Smart City, and the launch was held on Saturday at Hotel Marriott.

"We plan to expand our services around India within next 1 year. Our plan is to optimize the blockchain technology applications towards societal benefits," said Azif Ali, CEO, Kingspin Technology Services.

Kingspin is recognised by Startup India and Kerala start-up mission. Kingspin claim that 80 per cent of their development work will be done from Kochi centre and in the initial stage it will employ 70 people. The centre will be hiring more freshers as there are not many with experience in blockchain technology in the country, its official media release said.

According to Kingspin, they are one among the first Blockchain companies to announce a utility-based crypto token associated with ‘Reduce, Reuse and Recycle’ global campaign. To put that into action, the company is about to develop a token tradeable in the crypto market "which can be mined and minted only based on equated global carbon credit quotient." The other token initiatives include Real Estate Token Concept and Non-Fungible Tokens (NFT) and NFT marketplace.