Blockchain is the innovative technology that is fuelling the growth of cryptocurrencies such as Bitcoin and Ethereum. The field is evolving immensely with every passing day. Speaking of Blockchain technology, we came across this amazing Blockchain Development Company, Softlabs Group, founded in 2003, it has been passionately helping companies of all sizes globally to accomplish their digital transformation goals.
Using its vast experience of more than 18 years, while comfortably adapting to global cultures and varying time zones, it has created a rock-solid and robust development mechanism as well as delivery models to serve its esteemed clients.
With its extensive expertise in varied domains and deep knowledge of Blockchain, it has successfully identified used cases and delivered state of art Blockchain-based solutions to its global customers in the respective areas.
Company Insights
Softlabs Group, founded in 2003 is a Global IT House headquartered in India, having its offices in Sweden and the USA with a strong partner network spread over different continents. It has a global footprint and legacy of successful deliverance of IT Solutions to various countries including the USA, Canada, Sweden, UK, Portugal, Australia, Singapore, South Korea, Zambia, Kenya, South Africa, Israel, UAE, Saudi Arabia, and Oman.
The company has worked in diverse domains that include Fintech, Infrastructure, Energy, Shipping and Logistics, Retail, Education, Real Estate, Hospitality, Health care, Pharmaceuticals, Diamonds, and Tourism.
It has been a pioneer in embracing the latest emerging tech during every technology revolution over the last 2 decades, be it Web Technology, Mobility, AI/ML, IoT, or Blockchain.
Today, Softlabs Group is one of the top Blockchain development companies in India, which has helped companies across the globe, successfully leverage and implement Blockchain technology in various business domains. It has developed Blockchain Solutions for several industries including Fintech, Logistics, Healthcare, Entertainment, Education, and Supply Chain. It has been assisting them with enterprise-ready, cutting-edge Blockchain solutions and services to integrate with their existing business processes and garner higher technological strength with promising ROIs.
Its objective is to surpass its proficiencies benchmark with every single project and discover innovative ways to make optimum use of Blockchain technology in its client’s existing businesses.
Services Offered
Softlabs is a digital transformation venture specialized in providing eminent Blockchain solutions such as, Blockchain-based Electronic Health Records, Blockchain and IoT based solutions in Clinical Trials, Blockchain-based Smart Certificates, Blockchain-based Traceability in the Supply Chain of Manufacturing, Agriculture, Blockchain solutions for Insurance Companies, Manufacturing and other Process Compliance Audit, e-Commerce Escrow, and much more.
Apart from the mainstream use cases, Softlabs Group also provides Crypto Services to Offshore Companies like Cryptocurrency Exchange Development, Crypto Trading Bots Development, Wallets Development, Smart Contracts Development, Token Development, ICO/STO/IDO Services, Decentralized Exchange, De-Fi Protocols, assistance in running Blockchain Nodes and more.
It also specializes in Ethereum as well as other popular Blockchains’ Layer 2 and Sidechain-based Solutions, which are more scalable and cost-effective.
Dynamic Leader
Mithilesh Bandiwdekar is the Founder and CEO of Softlabs Group, an India-based Global IT House. Along with a core team of intellects in Softlabs Group, Mithilesh has been studying and exploring Blockchain fundamentally for its application utilities in different domains where Softlabs already has detailed exposure.
Anticipating Blockchain’s future potential and applicability in various areas, Mithilesh, along with effective perpetuation of existing engagements and business commitments, has also consciously developed a parallelly aligned focus of Softlabs Group’s vision and its most fitting resources on Blockchain.
Mithilesh and his team believes that every solution available in the market today has a fair potential to get relaunched in a decentralized form offering benefits and empowering the hands of the users constructively.
Mithilesh, also very firmly believes that as a technology, Blockchain is going to be the next revolution, larger than the internet revolution of the 1990s. We have all witnessed the phenomenon of the dial-up internet connection, with a mere speed of 56 kbps from the outgoing decades of the 90s and 2000s getting upgraded to the 4G and 5G generations. Likewise, the Blockchain technology available today can also evolve exponentially after going through a tremendous overhaul of dynamic up-gradation and improvisation to become established as the de-facto of the future.
Hurdles on the way
The biggest challenge while expanding the business in Blockchain services was to understand and master Blockchain itself. Blockchain is a combination of technically intensive and complex concepts like Cryptography, Peer-to-Peer Networking, Consensus Algorithms, Virtual Machines, Language Compilers, and Runtime Environments.
After humongous efforts aimed at understanding and mastering Blockchain, the next challenge was to help the customer getting acquainted with Blockchain basics and have them comprehend and see how it would help improvise their existing business processes leading to an increase in ROIs. People were also confused about Cryptocurrency and Blockchain. It took a while even for the big conglomerates to be comfortable to acknowledge the difference and the true power of Blockchain.
Acing the Pandemic
The pandemic did pose challenges initially while being compelled to go into a remote working model as an organization. However, that challenge also presented an opportunity to devise mechanisms and tools for remote work management while tracking the operations productivity and transparency of the employees.
As a firm in IT business, unlike other industry or businesses, it was easier for Softlabs to adapt to the technological advancement. Its employees too, responded well with 100% proactive cooperation in their responsibilities while contributing to the consistent growth process of the company. The pandemic has fast-tracked the pace as everyone is going virtual.
On the other hand, the sudden economic shock, followed by an even more expansive fiscal policy worldwide, has propelled inflation concerns, causing many people to invest part of their wealth into inflation-proof assets like Bitcoin and other cryptocurrencies. Furthermore, the security features and utilities of Blockchain technology helped businesses to become more secure.
So, the sudden rise in Blockchain adoption and the demand for Blockchain solutions in the industry encouraged more companies to reach out to Softlabs, to discuss every possible room for integration of Blockchain technology into their business processes.
Business Tactics
Softlabs Group has been working on developing its own Blockchain platform since 2020. It already has a reasonably good number of clients worldwide using its Blockchain solutions built on the prevalent, popular Blockchain platforms.
Due to network congestion and ever-increasing gas fees, it has become very difficult for its clients to continue using these Blockchain platforms affordably, for their business solutions. Softlabs Group is working on a sustainable model of a Blockchain, which will be scalable with high throughput and negligible gas fees for transactions.
Softlabs is developing a Blockchain platform that is easy to adapt for companies with zero to minimum knowledge of Blockchain technology. The Blockchain being developed by Softlabs Group will be a user-friendly one, promising all the existing features of Blockchain-like security, encryption, decentralization, immutability, much to the liking and understanding capacity of a layman, easy to be utilized at a greater speed of execution at the same time.
In the first phase, the company will be integrating IoT devices with its Blockchain in areas such as Electronic Health Records, Traceability in the Supply Chain of Manufacturing as well as Agriculture and Blockchain-based commercial solutions for the Real Estate Industry.
Advice from the Best
Today, with the ever-growing global cognizance of the power of Blockchain, the entire world is looking up to Indian techies for Blockchain-based solutions. This is the best time to shine, go full throttle on the Blockchain, develop POCs and demonstrate them to potential client companies and government bodies. Utilize the strength of knowledge and contacts to penetrate different levels of organizations to win their acceptance on Blockchain as the future and bag the first opportunity from them to exhibit the acquired skills and magic of Blockchain.
“My advice to the budding entrepreneurs in the Blockchain space would be to capitalize on this globally booming Blockchain revolution and use this as a well-laid, progressive ramp to achieve not just their envisioned success as entrepreneurs, but also to feel and live the motivation of using the technology as a means to serve fruitful utilities for the betterment of mankind,” says Mithilesh.
Looking Ahead
Softlabs Group has equipped itself with the right team, right skills at the exact right time. It envisages revolutionizing different industries and institutions globally with its expertise in Blockchain. It aims to become like the SAP in the Blockchain space and cater to private and government organizations across the globe.
Ongoing Activities
Any data stored and retrieved from Blockchain cannot be challenged for mutation or manipulation. Massive requirement of genuine data for training Machine Learning Models, can be fulfilled by the immutable Blockchain-based data sources.
Today the entire world looks up to Indian companies for Blockchain-related assistance so the future for Blockchain Services companies from India is very bright and it is the best time for them to invest focused efforts and flourish.
