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Locus Chain Forms Strategic Partnership with India’s Bankai Group

  • Advancement of blockchain technology for Indian smart cities and Creta’s entry into the Indian gaming market
  • Held at the Bankai Group Headquarters in India on July 3rd… attended by Bloom Technology CEO Sangyoon Lee, Bankai Group Chairman Bankim Brahmbhatt, and others

On July 3rd, Locus Chain and Bankai Group signed a strategic partnership at the Bankai Group headquarters in India. From left: Bankai Group Chairman Bankim Brahmbhatt, Bloom Technology CEO Sangyoon Lee, Zeebu CEO Raj Brahmbhatt.

Locus Chain is set to accelerate its entry into the Indian market.

Blockchain development company Bloom Technology announced that its next-generation public blockchain platform, Locus Chain (LOCUS), has formed a strategic partnership with India’s Bankai Group.

Bankai Group is one of India’s leading technology companies, operating in various business areas including telecommunications, fintech, development, and consulting. Based on its strong presence and industrial competitiveness across multiple countries over the past 35 years, Bankai Group provides various technological services such as global wholesale voice, VAS, and SMS carrier solutions.

The partnership ceremony took place on the 3rd of this month at the Bankai Group headquarters in India, attended by key executives including Sang-Yoon Lee, CEO of Bloom Technology, and Bankim Brahmbhatt, Chairman of Bankai Group. Through this agreement, the two companies have committed to establishing a comprehensive strategic relationship for mutual growth in various areas, including the advancement of blockchain technology in Indian smart city projects, strengthening decentralized finance platforms, and entering the Indian gaming market.

Bloom Technology will use its Locus Chain to establish a blockchain infrastructure to enhance data operations and security for various technologies, including information and communication technology (ICT), Internet of Things (IoT), carbon-neutral solutions, and artificial intelligence (AI), which are being widely introduced in Bankai Group’s smart city projects.

Bloom Technology plans to build the ‘Locus Smart Solution’, integrating urban development and scientific technology, to effectively manage all city data from construction through completion and operation, and utilize it to improve regional infrastructure.

India launched the Smart City Mission (SCM) in 2015 to build 100 smart cities across the country to address problems arising from population growth and urbanization. Bankai Group has been selected as one of the key contractors for the Smart City Mission.

Locus Chain is recognized for its low entry barriers and high efficiency compared to other blockchains, ensuring stable network maintenance and scalability, making it competitive for large-scale national infrastructure projects like this smart city initiative where a large number of transactions are expected.

Zeebu, Bankai Group’s blockchain-based telecommunications payment platform, will utilize Locus Chain to strengthen its decentralized finance platform. Zeebu has previously garnered significant investor interest, raising $25 million during its pre-sale funding round.

Bloom Technology and Bankai Group are also challenging the Indian gaming market through ‘Creta’, a web3 gaming platform based on Locus Chain. They plan to establish a joint venture to quickly secure competitiveness in the rapidly growing Indian gaming market, going beyond a simple technology agreement.

The joint venture will service key areas of the Creta platform, including multiverse, game community, game studio, and game platform, and will be responsible for developing new game IPs for local gamers. According to a report by market research firm Niko Partners, the Indian gaming market is projected to reach about $1.6 billion by 2027, with the number of Indian gamers reaching about 641.2 million.

Sangyoon Lee, CEO of Bloom Technology, said, “Through this agreement, we have been able to further strengthen Locus Chain’s technological competitiveness in the Indian market,” adding, “The two companies, which have led successful businesses in Dubai, India, Japan, Korea, the United States, South America, and Africa, plan to actively collaborate to create new synergies.”

Meanwhile, according to the World Economic Outlook released by the International Monetary Fund (IMF), India’s economic growth forecast for 2024 is 6.5%, significantly outpacing the global average forecast (3.1%), solidifying its position as the fastest-growing major economy in the world. [End]

 

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* Locus Chain represents the forefront of next-generation blockchain protocols, uniquely solving decentralization, scalability, and security challenges concurrently. Its pioneering Dynamic Sharding technology ensures network stability in any setting, while Verifiable Pruning reduces node sizes, enabling effortless node operation and participation even on mini PCs and internet routers. Operating nodes at a fraction of the cost compared to other blockchain networks, Locus Chain offers accessible and secure network participation with minimal entry barriers and optimal efficiency. It stands out as the ideal blockchain network for large-scale projects where scalability is crucial.

* Creta, a web3-based multiverse gaming platform, is headquartered in Dubai, UAE, and comprises a team of renowned developers, publishers, and blockchain experts who have made a name for themselves in the global gaming industry. Notable figures include respected producer Ray Nakazato, renowned for his contributions to the global gaming industry, and Alexander Harutyunyan, the former CEO of European gaming publisher INNOVA. The team also includes CCR Seok-ho Yoon, the representative of Korea’s national game Fortress. Additionally, legendary game industry artisan Yoshiki Okamoto, known for developing iconic titles such as Street Fighter 2 and series, Resident Evil, and Monster Strike, which have collectively generated billions of dollars in revenue, along with Thomas Vu, the producer of League of Legends and Arcane, have formed a partnership. This collaboration is expected to bring about a world-class lineup of Web3 game titles.

Creta is composed of four key components, the endlessly scalable Creta Multiverse, Creta Game Platform (CGP) that services various web2 and web3 games, Creta Studio enabling anyone to create high-quality games and content, and Creta SuperClub, a web3 community that links the entire Creta platform. Creta Multiverse is currently engaged in developing an infinitely expandable multiverse, differentiating itself from traditional metaverses by implementing a colossal multiverse (with the sequential opening of three metaverses) where numerous metaverses can interconnect and expand. The platform aims to be the global pioneer in implementing a web3 photorealistic visual experience. Within Creta Multiverse, users can access a wide range of content and ecosystems, including MMORPGs, battle royales, casual games, and more, all designed for a seamless one-stop service experience. From a technical standpoint, the rights associated with clubs and posts are transformed into NFTs, granting administrators, members, and other NFT owners with ownership and transaction privileges. This allows for ownership transfer, transactions, mergers, and other activities. Furthermore, information about each member within a club is not stored on specific servers but is entirely decentralized, representing a genuinely decentralized community service. This approach empowers influencers to manage their fan base independently without being reliant on the platform.

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