Soulstice Software Solutions: Implementing Customized Blockchain Solutions for Various Industry Verticals
MD - India
Based out of South Africa with an Indian office in Hyderabad, Soulstice Software Solutions is specialized in system integration projects, business operations systems implementation, and software development. Soulstice has a track record of delivering business and technology expertise throughout Europe and Africa, offering strategic and operational knowledge across the entire business chain. The company delivers platforms/products which harness the power of technology. The director of Soulstice Software will explain the firm’s approach to keep their clients competitive and helps them achieve their business goals.
In conversation with Santhosh Vanama, Managing Director- India, Soulstice Software Solutions
The blockchain is undoubtedly one of the revolutionary technologies and that’s why plenty of startups and enterprises are working on their own blockchain solution. As a blockchain technology domain player, how has Soulstice Software Solutions is placed in this market?
At Soulstice we have proactively adopted the technology, implemented use-cases, and built our own solution. Soulstice started blockchain practice 3 years back based on various technologies like Ethereum platform and Hyperledger from the IBM side.
Initially, we started as a service provider on Blockchain and gradually started to deliver few solutions to automobile industry clients in Africa as well as other states. While delivering blockchain, we built a product called Fliptin, one of our sister companies. We kept it independent because we wanted to carry it as a service delivery model. Soulstice has absolute expertise in developing customizable solutions using the Ethereum platform for clients in various industry verticals. And this is added to us having developed our own state-of-the-art product.
The traditional way of making contracts needed a lot of paperwork, human intervention in terms of approvals, and open to opposition. In what ways your Blockchain-based Smart Contract helps to build paperless and secure relationship between vendors and customers?
As a business leader, your relationships with your vendors and customers are built of contracts; the bigger your business, the more of the contractual needs you have. Smart Contracts are virtual contracts, formed by using Blockchain Technology, and their strength lies in security, reliability, and incorruptibility. But in earlier days making contracts required a lot of paperwork, human intervention in terms of approvals, and were open to opposition. Smart Contracts does away with all of those traditional and time-consuming methodologies of making legally binding contracts. Smart Contracts are written in computer code, and published into a Blockchain
Soulstice leverages blockchain principles and builds the product based on our expertise
product based on our expertise. We provide benefits to customers through our smart contract thereby giving them a secure and efficient way to protect their data. Again, these contracts are paper-free which means all records are stored permanently in the network. And, even if the data is lost, which is rare, it can be easily retrieved. Since it is code-based and automated, it reduces the time and cost of processing the contract. More so, it has hardly any human intervention. There is hardly any scope for errors, and being visible to both the parties, the transparency gets involved in contractual agreement.
Kindly brief us about Soulstice’s Hyperledger Blockchain technology and how does it help customers to build decentralized enterprise applications.
Businesses are changing rapidly with Blockchain technology. Getting done with discrepancies and human-errors, the commercial eco-system is undergoing a disruptive transformation. Soulstice’s experts help you build decentralized enterprise applications using Hyperledger. On hyperledger, we help the clients to track all the records from production to purchase process.
What further innovation do you plan to include in your blockchain technology offerings?
In terms of services, we want to provide different technologies. Currently, we are working on Ethereum and Hyperledger platforms. Further, we intend to come up with a convergence solution for the client. It’s not just the blockchain that we are going to develop, we will project on IoT too. Likewise, for people who work at infrastructure and are implementing AI, and automated analytics on to the platform, we will offer a converged solution comprising blockchain and analytics. Soulsitice aims to deliver platform and products which harness the power of technology, keeping businesses competitive, and helping them achieve their business goals.