Nikhil is trying to change views on blockchain
A year ago, when Nikhil Goyal wanted to do something ‘impactful’, he chose a domain around which the narrative was hardly favorable – blockchain. He chose the path of most resistance. But he was convinced that he could break the barriers.
Nikhil is the founder and CEO of Beyond Imagination Technologies (BIT), a venture that uses blockchain technology to address everyday pain points in organizations.
Blockchain has been around for over a decade, but it still elicits blank or skeptical looks. Many associate the technology with cryptocurrencies, bitcoins and speculative behaviour.
So it came as a pleasant surprise to Nikhil when some people not only made an effort to familiarize themselves with the technology but also its real-world applications. “I went to the railways, the police and the army to understand how they felt about the technology and whether I could help them. And they were super excited. They knew more about blockchain than I did. And because they face problems, they look for solutions, he says.
BIT last month signed an MoU with the Indian Army under which it will use blockchain to digitally transform the Army’s systems and processes, along with prioritizing data security and ensuring data traceability.
Still, Nikhil was under no illusion about the scale of the challenge. “I saw a huge gap between blockchain technology that was available, and people who wanted to use it but didn’t know how.” BIT is trying to solve this by making blockchain easy to use for the end user.
Nikhil is not an engineer. He obtained a bachelor’s degree in business administration, and a master’s degree in communication. It was curiosity that brought him to blockchain. He felt that the technology had great potential to solve real-world problems. “My knowledge of technology is developing. I’m leaving the nitty-gritty of the technology and blockchain architecture,” he admits. But what he is good at is the ability to make contact with customers. “I speak their language. I see no solution from a technician’s point of view; I see a solution from a user’s point of view. ”
TOO FAR FOR SURE
Nikhil is trying to change the conversation around blockchain. He wants people to stop thinking of it as synonymous with crypto. He says that more people are beginning to appreciate the use of blockchain. Yet, in areas where it can make the biggest difference – for example in elections and land registration – there is still reluctance to use it. “I also realize that not all departments and individuals want the complete transparency that blockchain provides,” he says.
He ends up wasting time too. “After trying to get people to understand, they say, ‘That was fun, but let me get back to you!’ However, he and his team are determined to continue.
“Today, the RBI is asking banks to explore the use of blockchain for the systems and processes they run. They are anti-crypto, but they don’t mind the technology. The market is maturing,” says Nikhil.
He is convinced that all databases will one day be managed by blockchain. He says that it is “just a matter of when. ” And he is prepared for a long move.
Nikhil is the founder and CEO of Beyond Imagination Technologies (BIT), a venture that uses blockchain technology to address everyday pain points in organizations.
Blockchain has been around for over a decade, but it still elicits blank or skeptical looks. Many associate the technology with cryptocurrencies, bitcoins and speculative behaviour.
So it came as a pleasant surprise to Nikhil when some people not only made an effort to familiarize themselves with the technology but also its real-world applications. “I went to the railways, the police and the army to understand how they felt about the technology and whether I could help them. And they were super excited. They knew more about blockchain than I did. And because they face problems, they look for solutions, he says.
BIT last month signed an MoU with the Indian Army under which it will use blockchain to digitally transform the Army’s systems and processes, along with prioritizing data security and ensuring data traceability.
Still, Nikhil was under no illusion about the scale of the challenge. “I saw a huge gap between blockchain technology that was available, and people who wanted to use it but didn’t know how.” BIT is trying to solve this by making blockchain easy to use for the end user.
Nikhil is not an engineer. He obtained a bachelor’s degree in business administration, and a master’s degree in communication. It was curiosity that brought him to blockchain. He felt that the technology had great potential to solve real-world problems. “My knowledge of technology is developing. I’m leaving the nitty-gritty of the technology and blockchain architecture,” he admits. But what he is good at is the ability to make contact with customers. “I speak their language. I see no solution from a technician’s point of view; I see a solution from a user’s point of view. ”
TOO FAR FOR SURE
Nikhil is trying to change the conversation around blockchain. He wants people to stop thinking of it as synonymous with crypto. He says that more people are beginning to appreciate the use of blockchain. Yet, in areas where it can make the biggest difference – for example in elections and land registration – there is still reluctance to use it. “I also realize that not all departments and individuals want the complete transparency that blockchain provides,” he says.
He ends up wasting time too. “After trying to get people to understand, they say, ‘That was fun, but let me get back to you!’ However, he and his team are determined to continue.
“Today, the RBI is asking banks to explore the use of blockchain for the systems and processes they run. They are anti-crypto, but they don’t mind the technology. The market is maturing,” says Nikhil.
He is convinced that all databases will one day be managed by blockchain. He says that it is “just a matter of when. ” And he is prepared for a long move.
