How did you get interested in Web3 and what you're currently working on?
I got disappointed with centrally controlled payment solutions back then in 2016 (or 17) one cross border payment used to take around 7 business days to arrive at your bank. Also, everyone was charging huge commission fees on these transactions. I had paid more than $150 as a commission to receive just $1000. In 2017 I was introduced to Blockchain and its revolutionary use-cases specially for decentralized finance and payments which was still an unexplored area back then in 2017. So, we started educating ourselves, exploring more use cases, and have helped many startups/businesses with their blockchain projects. Fast forward to 2021, we have launched Bitbatua which is a complete suite of crypto payment tools and solutions for merchants/businesses of any size. We are currently working to add more coins to the platform, looking for some technology partnerships, and expanding it to more regions.
What is your definition of web3? Why should we care about it?
To me web3 is an Internet of new age, it aims to be a decentralized version of the Internet we see today. In the past social media networks are alleged to share and monetize their customer’s private data such as photos, contact information, activity across different apps, etc which is the biggest concern in the digital space. Similar problems are in the traditional banking/finance space. Web3 solves all of these problems, whereas internet users can control their data, identity and digital money the way it moves today. And that’s exactly what we should care about.
What hard and soft skills have been most helpful to help you succeed in Web3?
Past experience over 4 years of blockchain consultation and development, wonderful network of crypto fascinating leaders & developers have helped us from validating the idea and releasing the real product into the market.
What would you say is the best thing about your job? The most challenging?
I found meeting people all over the world from different verticals to find growth opportunities is the most satisfying part of the job. This helps me expand the business and my horizon as well. This being said, acquiring the right talent and retaining them to move along the same vision you do is the most challenging job.
Tell us the greatest working day of your life. You're at home in the evening, thinking of what you accomplished. What made you so happy that day?
I don’t believe that any single day can be so great, instead what I believe is that every single day contributes a little towards your success. So, rather I enjoy and celebrate every little accomplishment which further motivates all of us to take a step closer to the goal.
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What part should Founders play in web3?
Web3 is still a developing idea for a third generation of the web. Because of blockchain technology and its forecasted potential use-cases, it has created the latest buzz in the market. Companies like Meta (formerly Facebook) are also experimenting with concepts like Metaverse which is an extension of virtual reality; planning to allow their creators to mint NFTs. But the fact is that not many users are educated on these concepts. So, it is really important for founders to educate the users/communities on these tech-tools before releasing market-ready products or features.
What are the best decisions and the worst decisions you have made in this industry?
Overdependence on some resources and not hiring diverse teams was the worst decision we ever made. The range of experience, expertise, and working methods that a diverse workplace offers can boost problem-solving capacity and could lead to greater productivity.
And launching the product Bitbatua in Sep 2021 was the best decision we ever took since it was the time the Indian Government was planning to present a crypto bill into the parliament which encouraged and attracted more people to the crypto ecosystem and that has eventually helped us grab more attention.
What is your favorite Web3 project? Among the people you've worked, or interacted with in Web3, who do you admire most and why?
My favorite web3 projects are Polygon (formerly matic), IPFS - decentralized file storage protocol, opensea for the love of NFT, uniswap for the dex, compound finance for the DeFi category, and also Aave.
There is no single person I admire, in fact I appreciate all the efforts being put by all the content creators and educators which are educating millions of people about crypto and web3 space. I believe that education is the perfect tool to grow crypto adoption.
What is your vision for your niche? What do you expect to come in the next few years? What development in the field do you find to be the most exciting?
Web3 payments are exciting, and the recent crypto tax announcement from the Indian Government is so encouraging. We believe that this announcement lays the foundation for legitimizing the crypto asset ecosystem in India with formal regulations going forward. All of this helps us with our mission to grow the adoption of cryptocurrencies on a global scale by offering secured, cost-efficient, convenient payment services to both merchants and customers. Bitbatua envisions the onboarding of 1 million users to cryptocurrency with its #UseCrypto initiative.
Any tips for beginners who aspire to work in this domain, but feel completely overwhelmed to even start competing?
My suggestion to them is that you don’t work on web3 because everyone else is doing instead you do your own study, research more about the market, be visionary, identify the problem, and solve it.
