- ByStartupStory | January 18, 2024
Qila, founded by Sid Ugrankar and Vishal Malhotra, has unveiled a groundbreaking Blockchain-As-A-Service (BaaS) platform, poised to revolutionize how enterprises conduct their daily operations. The platform, featuring unique solutions like PrivaSea and GoTrust, focuses on providing secure identity data storage using blockchain technology.
Sid Ugrankar, Co-Founder & CEO of Qila, emphasized the transformative impact of their solutions, stating, “Once a company signs up, they can integrate using the API and begin pushing data to the blockchain. The data is stored in the form of a chain which is the core feature of blockchain technology. By providing blockchain as a service, Qila solves the big challenge of setting up and managing dedicated blockchain networks.”
Qila’s offerings facilitate real-world asset tokenization, creating digital footprints for physical or virtual assets on a private, dedicated, and managed blockchain network. This ensures data ownership remains exclusively with the customer, providing a secure and unmodifiable data environment.
Enterprises in various sectors, including real estate, healthcare, government, supply chain, and BFSI, can seamlessly integrate Qila’s solutions. The Ark and Ark+ platforms, part of Qila’s managed service, enable swift adoption of blockchain technology, saving enterprises the complexities and costs of establishing their platforms.
Vishal Malhotra, Co-Founder of Qila, highlighted the robust security features of blockchain, stating, “Blockchain is the most secure technology available till date. Which is why it is used for Cryptocurrency as the transactions remain secure and anonymous. Qila is a way for us to bring Blockchain to the enterprise.”
For BFSI, enhanced collaboration and increased operational intelligence are expected benefits. The supply chain can achieve seamless inventory visibility, while the public sector can improve tax compliance and reduce corruption through Qila’s solutions. In healthcare, tracking fraudulent activities in pharmaceutical testing and distribution becomes feasible, and the real estate sector can directly engage with customers for tasks such as land registration and fractionalization.
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