Raj Chowdhury of HashCash Consultants.
Tell us about yourself?
Since childhood, I had an innate curiosity for understanding how worldly mechanisms function. This thirst fuelled my entire career, leading me to where I am at present. The strong family support helped me pursue higher education in the US. I graduated from the School of Engineering at Tufts University, followed by a research stint at MIT working at the Microsystems Technology Lab(MTL). I also attended The Fletcher School of International Law and Diplomacy and obtained an MBA from the Leavey School of Business at Santa Clara University. My association with blockchain and crypto began after witnessing the impact of the Great Depression. Bitcoin as a potential alternative to existing monetary systems had countless detractors, but there were a few who could comprehend the brilliance of its design. The underlying blockchain technology could be implemented across any domain that benefits from orderly transaction records. We started off HashCash Consultants as a blockchain development company in 2015, and the story continues.
What do you think is the single biggest misconception people have when it comes to startups?
The focus should be on the services offered rather than revenues or project novelty. There are no shortcuts to getting rich fast. Learning from others’ mistakes would help you avoid them, but the process often leads to a new avenue with a completely different set of variables. The hustle and grind are real. However, success is far more rewarding and satisfactory.
If you could go back in time to any moment from your journey, and give yourself one tip, what would it be?
Given the opportunity to rewind my life a few years in the past, I would probably want to go down the exact path. Utilizing the knowledge gained, I would make the process more efficient this time around.
What makes you stand out as an entrepreneur?
What drew me first towards blockchain was its ability to optimize existing system infrastructure. It appealed to my analytical side, and I made a note of its productivity. Efficient decision-making and perseverance have helped me immensely over the years.
What are some of the best working habits you’ve gained over the past couple of years?
Over the years, I have come to the conclusion that the journey is more important than the destination. In terms of business, constantly figuring out ways to improve the existing workflow is essential for progress. And, implementing them at the right time is also equally vital. Slow steady gains are the foundation for long-term success.
Give us a bit of an insight into the influences behind the company?
The biggest benefactor of blockchain technology had been the banking and financial services sector. I feel fortunate to have been involved in pioneering the first interbank Trade Finance Remittance implementation of Blockchain Technology between two of the largest global banks. This experience was enlightening, helping me recognize how blockchain can promote financial inclusion even across the unbanked sectors. HashCash was formed soon after figuring out the revolutionary potential of blockchain.
Where do you see your business in five years?
HashCash will position itself as a global leader in blockchain development and innovation in the upcoming years. The company will expand its operations across Dubai, Malta, and Canada. HashCash plans to continue developing its crypto products PayBito(exchange) and Billbitcoins(payment processor) elevating them to the number one position within the US. We would also be offering additional services related to the metaverse, big data analytics, IoT, Cloud Computing, and more.
What do you think the biggest challenge will be for you in getting there?
Contrary to popular belief, crypto regulation will not be a significant issue in HashCash’s global business development. Blockchain innovations are frequent and will power upcoming technologies such as metaverse, Web 3.0, and Decentralized Finance(DeFi). Scalability remains the biggest concern.
Talk to us about your biggest success story so far?
HashCash has achieved a global presence, offering its products and services in more than 26 nations across 6 continents. We have forged strategic alliances and technological collaborations with global MNCs and major financial corporations. The company also has made a significant contribution to UAE’s crypto transformation. The US-based organization is eyeing expansion, with a proposed 2-acre HashCash Park in the works in Eastern India. White label crypto exchange architecture offered by HashCash has achieved global recognition as a benchmark for digital asset trading exchange solutions.
How do clients and customers find you? Are you much of a salesperson for yourself?
As explained previously, our business is primarily B2B-centric. New clients find us mainly through reviews and references from previous clients. We do have dedicated business development teams for digital marketing and in-person communication worldwide.
What one tip would you give to fellow startup founders?
Do not mistake extensive research for procrastination. The research will be essential in developing tangible business concepts and achieving scalable results. In addition, remain aware and hone your listening skills- be it your partner, client, or office employees.
And finally, what do you hope the future brings both you personally, and your business?
Blockchain and cryptocurrencies have been life-altering for the people at HashCash. We hope to share its benefits along with upcoming innovations among as many people as possible. Decentralization is the future, and it is here to stay.
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