Adfactors PR, India's leading public relations Consultancy today announced that it has signed an industry-first Memorandum of Understanding (MoU) with the India Blockchain Alliance (IBA) to promote Blockchain technology conversations in the country.
Adfactors PR is a global leader in forming new ecosystem alliances that provide businesses with customized communication solutions for developing technology. With 150+ Indian and global clients in the sector, the consultancy has industry-leading expertise in the Financial Services and FinTech sectors.
Madan Bahal, co-founder and managing director of Adfactors PR, said, “Our constant endeavor to assist businesses in a rapidly changing world has resulted in the launch of several industry-first practices. Adfactors PR is excited to partner with India Blockchain Alliance to drive industry conversation around yet another realm of technology that is core to reimagining the financial world and content disbursement in the coming years.”
India blockchain Alliance (IBA) is a non-profit organization, IBA fosters the adoption of blockchain public and private sectors and distributed ledger technologies (DLT) based on evidence. According to the statement, the IBA is present in nine countries and has strategic partnerships with worldwide blockchain organizations.
According to the company, The global market of Blockchain is estimated to reach around $40 billion by 2025. During the first half of 2021, Blockchain and Cryptocurrency startups garnered approximately $100 million in funding, demonstrating increased investor interest in the technology, the company adds.
The companies issued a joint statement that states that the MOU will help both the organizations to "create a synergy among different stakeholders in the financial ecosystem, including businesses, industry leaders, technologists, and academicians to mainstream conversations around Blockchain, DLT, and cryptocurrency over the coming years."
“With this partnership, IBA and Adfactors will align to see an India that leads the world in the adoption of blockchain technology that has transformed the economy and society to achieve significantly greater competitiveness, efficiency, service quality, social engagement, and employment. This partnership will support our vision to encourage the responsible adoption of blockchain technology by industry and governments across India as a means to drive innovation in service delivery across all sectors of the economy,” stated Raj Kapoor, founder of IBA.