Indian mining pool GBMiners established the first blockchain incubator in Southeast Asia - Satoshi Nakamoto Studio

The team at the GBMiners Bitcoin mining pool announced that they have launched South Asia’s first blockchain incubator, Satoshi Studios Studios.

The blockchain incubator, named after bitcoin’s mysterious creator Satoshi Nakamoto, is inviting applications from businesses across South Asia.

The server will offer a three-month intensive residency program for companies in New Delhi. These companies will be able to interact with the GBMiners team, other blockchain startups and top Bitcoin industry experts. The incubator will provide these companies with $50,000.

GBMiners co-founder Amit Bhardwaj said in a statement:

“Our vision is to build New Delhi into a blockchain knowledge network hub in Southeast Asia.”

Blockchain is a distributed database that can record transaction data permanently and tamper-proof. This technology was originally known as the underlying technology of Bitcoin. Today, many large banks and financial institutions, government agencies and central banks around the world are exploring and researching this technology, such as JPMorgan Chase, Barclays Bank, Bank of New York Mellon, UBS, Deutsche Bank, etc., as well as central banks in countries such as the United Kingdom, Singapore and Switzerland are studying the use of this technology to issue digital currencies.

Bitcoin, the most famous and successful example of blockchain technology, can be used to trade services or goods with merchants who accept Bitcoin as a form of payment. Bhardwaj said Southeast Asia will have a symbiotic relationship with Bitcoin.

He said India is the world's largest inward remittance market and also has the largest unbanked population.

“The timing for bitcoin adoption could not be better, especially with India’s largest banknotes being demonetized.”

About GBMiners and Amit Bhardwaj

According to previous reports, although GBMiners mining pool only mined its first block in August 2016, its computing power has accounted for 3% of the world's total, making it the largest Bitcoin mining pool in India and one of the top ten in the world. It is said that GBMiners is also optimistic about Bitcoin Unlimited.

Amit Bhardwaj is the co-founder of GBMiners, and most of GBMiners' mining equipment belongs to Bhardwaj. The computing power of Bitcoin mining hardware owned and operated by Bhardwaj's Amaze Mining and Blockchain Research Co., Ltd. accounts for more than 5% of the total network computing power.