Product & Technology
Product & Technology
Blockchain technology is transforming virtually every sector in the economy. Yet each of these sectors has a large percentage of businesses that haven't adopted the technology yet. The reason for this apparent dichotomy is the lack of a seamless and hassle-free pathway to adoption.
In mid 2022, in anticipation of what is likely to be huge unmet need, Qila launched an Infrastructure-as-a-Service model, to address this exponentially growing need.
This approach couldn’t have come a moment too soon. A recent estimate by MarketsandMarkets puts the global Blockchain market at around $94 billion by the end of 2027 – at a CAGR of 66.2% in the preceding five years. Gartner estimates a global business value of $3.1 trillion by 2030. The same Gartner report also estimates that Blockchain-based systems will govern between 10% to 20% of global economic infrastructure, by the end of this decade.
Qila co-founders Sid and Vishal go back a long way, having first met each other when they were schoolmates. Even their first foray as cofounders goes back to 2005, when they launched the mobile messaging company Smart Wireless Pvt Ltd, with Zee as co-investors. Their next venture as cofounders was SmartCirqls – a big data solutions provider which became a highly reputed brand across India, North America and East Asia.
This series of successes eventually brought the two schoolmates turned cofounders to what is their most ambitious venture yet – and certainly the one that is set to become their most sought-after solution – QILA.
As a concept Blockchain is both breathtaking in its scope and stunning in its simplicity. In five minutes or less any inquisitive mind can begin to grasp just how dramatic a change the technology can make.
Innovation tends to occur sequentially. The world was already well aware of the power of data in optimizing virtually any given system. IoT and AI based systems have now been taking advantage of real-time inputs to produce unheard of efficiencies. Likewise Big Data has unlocked faster, better and more personalized services in every walk of life. So what was the one vulnerability that could be the undoing of these systems and process enhancements? Data integrity of course! Blockchain technology’s distributed ledger system ensures that any stored data is totally tamper-proof.
Setting aside big business, even the average consumer has now become accustomed to digital service provision that is underpinned by their personal data. In this scenario, the issue has been reconciling privacy with this next level in convenience. In this case the solution was to replace sensitive data with Tokens that could not be used maliciously by cyber-criminals.
NFTs (Non Fungible Tokens) also unlocked a whole new way to transact and exchange value. We are all familiar with the booming cryptocurrency markets, but trading everything from art collectibles to fractional real estate has been enabled by this innovation.
In an overlap of the immutable Blockchain records and Tokenization of such information, businesses are now also able to assure customers of complete transparency of process and authenticity of products. This has proved gamechanging in sectors as diverse as luxury goods and medical implants.
Qila.io is an Infrastructure on Demand service for enterprises to build, run and manage their own dedicated Blockchain networks. Qila.io’s subscription service takes the hassle out of an enterprise running and managing their own Blockchain network setup. Using Qila.io’s out of the box technology, enterprises can tokenize real world assets, build and execute custom Smart Contracts, and write custom token protocols; without paying any gas fees or having complex coding knowledge.
Our ARK and ARK+ platforms offer easy and hassle-free Blockchain onboarding. Our PrivaSea wallet is an unimpeachable source of authenticated data that can help customers save all their critical information in a certifiable and trustworthy NFT format, in a single wallet.
Visit www.qila.io/ for a peek into a brave new world of endless possibilities, and let Qila help your business unlock the next level of growth, using Blockchain.
