UAE-based Blockchain startup Kingspin to open offshore centre in Kochi

In a first, a UAE-based blockchain company is set to have an offshore delivery centre in Kerala. Kingspin Technology Services, which has Keralites at its helm, has announced that it would open an office in Smart City, Kochi as part of its ambitious expansion plans in the country.

The plan is to expand the company's Blockchain Development Team and to focus on other digital transformation technologies such as Data Science and Internet of Things (IoT).

Kingspin Technology Services is recognised by Startup India and Kerala Start-up Mission.

The launch of Kingspin technology services in India was held on Saturday at Hotel Marriott in Kochi. Asif Ali, CEO, Rajeev MS, Director, Sunil Nair, Director, and Yash Dugar, CEO, HTEL attended the event.

Eighty per cent of the company's development work will be done from the Kochi centre. In the initial stage it will employ 70 people and may reach 100 within six months. The company will be hiring more freshers.

The company focuses on Blockchain and its real-world implications, including Asset Tokenization aspects in Environment Sustainability Quotient, Real Estate and Customer Loyalty.

The Angel-funded startup is planning to launch a branch in Wyoming, US.

"We plan to expand our services around India within next one year. Our plan is to optimise the blockchain technology applications towards societal benefits. However, the use of blockchain technology in business cases such as to save real estate documents digitally will only take off once our appeal to the government to legalise it get a green flag. When we came to India, it was difficult to be accepted at first. But in the past two years, the usage of the technology and exposure to it have gone high. As of now most of our customer base is in the UAE and the US," said Azif Ali, CEO, Kingspin Technology Services.

One among the first Blockchain companies to announce a Utility-based Crypto Token associated with the 'Reduce, Reuse and Recycle' global campaign, Kingspin is set to develop a token tradeable in the Crypto Market which is mined and minted only based on equated global Carbon Credit quotient.

The company's other major token initiatives include Real Estate Token Concept and Non-Fungible Tokens and NFT Marketplace.