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Business Software India: A Unique Window To The Emerging Blockchain Realm

Bhaskar Banerjee, CEO, Business Software India | Tuesday, 24 November, 2020
Bhaskar Banerjee, CEO, Business Software India

In the aftermath of blockchain becoming mainstream, organizations are already drawing plans to leverage the advantage of the new billion-dollar baby. But just like in the case of any other ground breaking tech-intervention, it’s imperative for organizations to craft problem-centric solutions out of blockchain, often by integrating with other futuristic technologies. Business Software India is acting as a one-stop-shop for organizations to decipher the complexities of blockchain as well as obtaining technology solutions to their sophisticated requirements. A brand from the house of Primjena Software Private Limited, Business Software India is a team of highly experienced blockchain developers, offering turnkey cloud software solutions and customized software development to corporate clients such as direct sales companies, multi-level-marketing companies, and online retail businesses. CIO Insider engages in an interactive session with the company’s CEO Bhaskar Banerjee. Let’s unfurl the chat.

In conversation with Bhaskar Banerjee, CEO, Business Software India

Everyone from startups to major companies and even government is now interested in blockchain-based applications. How is Business Software India helping the market transit to the new world of blockchain?
Business Software India is a top-of-the-line blockchain development company. The industry is evolving with every passing day and the new avenues of operation. We have started working on blockchain from very early days - the times when blockchain and cryptocurrencies were almost synonymous. Even in those days, we offered innovative solutions to our clients. We started with providing fintech solutions which later expanded to other areas like utilities, social sectors, and hospitalities to name a few.

The blockchain companies have already mushroomed in the industry. What is Business Software India doing differently that sets you apart from other providers in the industry?
The ability to maneuver blockchain to provide cutting-edge financial solutions is the key feature of Business Software India. Instead of creating another crypto exchange, we have created a blockchain-based stock exchange that can function

like a high-end stock exchange, commodity exchange or anything similar. Instead of creating another crypto gateway, we have created a blockchain-based micro-payment system that can be used by consumers and merchants. It works as fast as traditional payment solutions. We have always pushed the limits by standing outside the crowd and we are always focusing on that. If you need a solution on the blockchain, we’ll push the boundaries and even deliver elements that have not been done before.

In the fields ranging from banking & FinTech to government structures and education, blockchain is developing a whole new business ecosystem. What are the various security frameworks involved? Tell us about your security infrastructure.
Security is one of the key factors that have helped blockchain to have a strong footprint across business applications. By default, blockchain is secure. Data immutability is unparalleled and this feature alone can give you a matchless data security proposition. But as an interesting technology that has an extremely wide spectrum of use cases, blockchain’s security measures are subjective of the requirement. The transparency of public blockchain is not usable in information sensitive industries or operations, hence a private blockchain will provide a much better and secure solution. For a closed enterprise construction, permission-less blockchain will not be secure enough. And similarly, for a business with public participation, a certification authority won’t be viable enough and some way may lead to the security breach.

The ability to maneuver blockchain to provide cutting-edge financial solutions is the key feature of Business Software India

Could you tell us an implementation story?
We are very proud of what we do and what we deliver. Most of Business Software India’s solutions are standalone and aim to solve niche of business problems. But we feel very satisfied with the investment ecosystem we have provided to one of our overseas clients. We have built a complete ecosystem, comprising three different types of software. All are blockchain-based, but focused on solving completely different types of problems and work perfectly in harmony.

The ecosystem is a diversified investment platform. At the same time, they offer a secondary market to trade the assets they are offering. Also, a peer-to-peer escrow platform allows investors to trade their assets on a one-to-one basis. All three software work independently but those are cross-compatible. It is an extremely complex, but very fluidic software system.

What further innovation do you plan to include in your blockchain solution offerings?
Blockchain as a technology is in its infancy. Although, the development of blockchain is rapid. As more and more new companies are taking interest in it, better enhancements are coming in. But, still, there is plenty of scope for innovation. There are several bottlenecks with blockchain when it comes to fintech solutions that are holding back most of the financial institutions. We are working on two prototypes which will give a few added advantages to financial applications and make financial institutions give a go with blockchain.

I personally feel blockchain is not a technology that can change the game completely being a standalone. Rather, you can harvest its true power when you tether it with powerful technologies like AI, ML, AR, VR, or IoT. So, we are focusing on bringing innovation not only using blockchain, but also by integrating multiple technologies and combining their strengths together.

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