Belgium-headquartered, SettleMint is revolutionizing blockchain technology by offering uncomplicated and faster blockchain solutions for companies to help them increase their overall efficiency or even reinvent their existing business model and operations. Speaking of its full-fledged Blockchain-Platform-as-a-Service solutions, Shahzad Fatmi speaks at length of the company’s positioning and the Blockchain industry’s prospects in the present.
In conversation with Shahzad Fatmi, CEO, SettleMint, India
The blockchain industry has become a potentially transformative force across multiple aspects of public and private organizations. How is SettleMint helping the market transit to the world of blockchain? Where are you positioned in the industry?
We believe that blockchain has the potential to foster relations between government, public and private sectors in a safe and trusted manner but as an emerging technology, the industry faces a huge supply gap of skilled developers not only in India but across the globe. Our node-wrapping platform offers a suite of APIs, developer tools, and frame-works that enable any software developer with basic knowledge of coding to build blockchain-based applications or integrate blockchain functionalities into existing solutions. In its position, SettleMint being chain and infrastructure agnostic has the advantage of offering companies the shortest path to their blockchain
business case realization and making it easy for any organization to build business solutions with Blockchain.
What is your SOP when it comes to understanding a client’s pain-points, developing problem-centric solutions, and how do you add value by this Blockchain integration with other technologies?
The beginning of any of our projects is the ‘discovery & analysis’ phase where the SettleMint team interacts with clients to understand their current processes and pain-points. The team ascertains whether the client has a grasp of what the tech can do and where it fits in and also explains to them the criticalness of client participation for the successful blockchain implementation of the projects. After careful insights and initial discussions, we followed up with a drawing board that analyzes whether blockchain can optimally address the clients’ issues. Once the solution offerings and a deep dive session with the client are done, our robust platform makes it easy to deliver the production-grade application in no time. And many a time, after the overview, we have also advised our clients that blockchain may not result in their desired outcome, to avoid future disappointments.
SettleMint being chain and infrastructure agnostic has the advantage of offering companies the shortest path to their blockchain business case realization
We follow the best practices to ensure our platform and applications are securely knit. Depending upon requirements we provide additional
integrity and security solution called ‘anchoring’ that creates an additional verification mechanism for data integrity. At any point after committing the hash to the public blockchain, the validity of the data stored in the private blockchain can be verified by comparing hashes of the private and public blockchains.
And for document Integrity, SettleMint depends on the authenticity factor. With our proprietary technique, ‘crypto-sealing’ we provide certainty to participants that documents, even off-chain stored, are authentic versions of the originally stored document.
Share with us any inspiring implementation story or case study of SettleMint.
SettleMint has been simplifying solutions for businesses across varied sectors. For our project with one of the world’s largest retail chains for ‘Provenance of Pigs and Pork Meat’, the motive was to offer high quality sustainable, and good agriproducts. Such as with the ‘bio’ label, customers can have more confidence in products with a Bio warranty. The project also attempted to encourage local farmers to meet demand locally rather than rely on imports and eventually resulted in increased consumer trust and engagement with the brand translating in a substantial increase in sales and supporting local farmers.
What is the roadmap ahead? Any further innovations SettleMint plans to include in its range of blockchain solution offerings?
Our product is a full-fledged BPaaS solution offering the shortest path between a blockchain use case concept and the realization of the business case in production. We offer an end-to-end deployment, development, and middleware service, all accessible over the Internet which makes us the most efficient blockchain platform to innovate with blockchain technology. However, our R&D center located in Leuven, Belgium is constantly striving to innovate and add new features to our solution offerings for us to offer only the best and stay ahead of the curve.