Simplifying The Cryptic Crypto World
Since its inception in 2017, Giottus — a crypto investment platform is working every day with one aim which is to change the way Indian investors trade their virtual digital assets (VDAs). Currently, when every other nation is grappling with financial hurdles due to economic slowdown, Giottus is working towards removing barriers that arise from the complexity of the asset class.
When the company says that it follows a customer-centric approach, what it means is that investors can buy and sell crypto assets on Giottus in eight languages including English, Malayalam, Hindi, Tamil and Telugu.
There are no two opinions on the aspect that crypto is a complex area. Hence, it intends to empower people to use digital assets with ease. According to the company, Giottus is trying to simplify the end-user experience by delivering cutting-edge and easy-to-use products to customers.
Web 3.0 and India
Based on the concept of conceiving and nurturing an utterly decentralised ecosystem, Web 3.0 is a new, improved and democratised internet ecosystem which will be free from any central authority. It aims to leverage the power of emerging technologies such as artificial intelligence (AI), machine learning, and blockchain to solve the issues of present-day digital complexities.
Vikram Subburaj, Co-founder and Chief Executive Officer (CEO), Giottus Cryptocurrency Exchange says, "In a decentralised ecosystem, it is much safer than the existing satellite Web 2.0 ecosystem. Going forward, a lot of innovative products are coming."
With new technologies, concerns also reached human ears and Web 3.0 is also not immune to all the myths. This is a relatively new industry and many people have different things in their mind.
“I come from a sector which is the exchange which deals with investment and one of the biggest myths I want to break is don't go behind any coin where they will say it will give you a very high return. Read the coin, what it does and what the contribution is doing. There are many coins available, so just do research before investing in this space,” Subburaj suggests.
In its Web 3.0 Blockchain Market Outlook 2031 report, Transparency Market Research said that the global industry was valued at USD 2.01 billion in 2022 and it is estimated to grow at a compound annual growth. rate (CAGR) of 44.5 per cent from 2023 to 2031 and reach USD 54.04 billion by the end of 2031.
“The industry is going to have an exponential growth. There are certain technologies which horizontally provided innovation. So it's not only just one financial industry or fintech. Every industry as years pass by will suddenly say that we have got an advantage due to the Web 3.0 industry coming into the space,” adds Subburaj.
Giottus’ vision
Amid the five years of inception, the company is scaling fast and there is a dedicated research and development team that regularly updates the management on key areas the company could foray into in the Web 3 domain. Once the projects are approved, the R&D team works on building models that can be scaled.
Currently among the top-4 crypto platforms in India with over one million customers, Giottus has not taken any external funding and is a completely boot-strapped exchange. In the middle of Covid-19 in 2020-21, its revenue stood at Rs 7,64,87,348 and its profit was at Rs 26,95,361. In the financial year 2021-22, the company reported a revenue of Rs 22,59,39,000 and it recorded a profit of Rs 4,14,86,000.
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