Staying Ahead Of The Times
Auxesis, established in 2014, is developer of Auxledger Technology, a step-up form, inspired with the capabilities of Blockchain while focusing on enterprise usability and mainstream adoption. Leveraging the capabilities of Auxledger Technology, Auxesis offers products and services that enable organisations to build, deploy and operate high performance,fully customisable and interoperable Blockchain networks. Nausherwan Shah, Chief Business Officer, Auxesis Service and Technologies talks to BW Businessworld about the company.
The idea behind the startup
One thing that has been the major point of difference orients and occidentals is science and technologies but the developments in the First World countries are built on the sweats of we orientals. My vision is to bridge this gap and create global blockchain infrastructure with focus on enterprise usability and main stream adoption. Auxledger is one of the important milestone in fabricating this vision. I am anticipating the main stream adoption of blockchain.
The USP
Blockchain being a new technology has an enormous scope of development and innovation. There are issues with speed, customisation and interoperability of network. We are working in our full capacities to solve these issue (Much of which is already solved) and also on more innovation that can be possibly done in this field. Auxesis offers product and services that enable organisations to built, deploy and operate high performance, fully customisable and interoperable blockchain networks.
Business model
We are products-oriented company and most of our revenue comes from the products such as Auxledger (enterprise public network), Genuinety, enterprise development and support. We don’t have direct competition in India but there are companies such as Hyperledger, R3 Corda, etc., but their market focus is restricted to north America and Europe.
The way forward
With blockchain technology getting empowered by main stream adoption, I think this industry is expanding with each passing day. To be in business requires extensive research and hard work and our motto here is to keep innovating and improving.
Overseas foray
Yes, we are expanding our boundaries and have partnered with few companies in The Middle East, Japan, the UK and the US.
Social touch
In this fast moving world, blockchain technology has definitely added more speed to the general lifestyle. With our vision and technology, we have incorporated trust and data immutability among our end users. This technology has also ensured a corruption-free environment.
The paradigm shift
Blockchain is a recent phenomena, which has managed to stay in vogue. Everyday the technology is evolving and the market is only getting bigger with the main stream adoption . Blockchain has definitely become the dawn of our glorious civilisation.
Tech disruptions
Artificial intelligence and blockchain are impacting every business in some way. When two powerful technologies are all set to rule the world, the next question that comes to your mind is whether these two technologies can be merged.
Ways in which AI can help blockchain technology:
1. Scalability: AI will be able to perform collaborative learning without a centralised dataset.
2. Security: With the help of AI, you will be able to detect blockchain application layer intrusions issues with ease.
3. Privacy: AI will come handy when you need to improve the performance of hash functions.
4. Efficiency: With the help of AI, you will be able to predict the likelihood of a node to fulfil certain mining task.
With these four points, it is quite clear that there is a huge impact AI can have on blockchain technology. The great impact is visible on the organisations that have a head-start with the merger of AI and blockchain technology. As is seen from the above points, AI will ensure that blockchain technology is cheaper, safer and easier to operate in general, as it will aid in enhanced scalability, increased privacy and security along with ensuring greater efficiency.
Idea of wealth generation
The global blockchain market is expected to reach $28,248.7 million by 2025 from $385.5 million in 2018, growing at a CAGR of 74.1 per cent. Increasing adoption of BaaS, increasing merchants accepting cryptocurrency, and growing interest in blockchain among financial institutions are the key factors driving the growth of the global blockchain market. However, regulatory uncertainty, limited scalability, security, privacy and lack of awareness are hindering the growth of the market.
Self realisation
I am one of those small town boy who dared to dream and dream beyond social, cultural, political and class boundaries. My aspiration of becoming an entrepreneur has been mocked many times but the little boy in me who has dreams in his eyes has easily survived . The day we raised first round of investment in San Francisco for Scanta was the big day of my life. In 10 years, I see myself as someone who was the man behind main stream adoption of the blockchain.
Message to young entrepreneurs
Don’t wait for perfect! When starting a new business, we have learned that there is only so much you can predict with the information you have. The only way to really know if something is going to work is by testing it in a quick and scrappy way.’
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