In an era where blockchain technology holds immense potential but remains challenging for many enterprises to adopt, Qila stands out as a pioneer in simplifying the process. Led by founders Sid Ugrankar and Vishal Malhotra, Qila is on a mission to make blockchain accessible and scalable for businesses worldwide. In this exclusive interview, we explore Qila’s journey, innovations, and vision for the future.
The Genesis of Qila
What inspired the founding of Qila, and how has your journey shaped the company’s mission of simplifying blockchain for businesses?
“Qila was born out of a vision to simplify blockchain adoption for enterprises,” says Sid Ugrankar. With a history of pioneering technology-driven solutions, both Sid and Vishal Malhotra have a deep passion for innovation. From co-creating the first OTT platform for the ZEE Group to leading Big Data licensing solutions, they have consistently bridged gaps in technology.
“During the pandemic, we observed a growing interest in blockchain. However, enterprises faced significant challenges—from infrastructure setup to aligning blockchain with business needs,” adds Vishal. By mid-2022, their vision had crystallized into Qila, an enterprise Blockchain-as-a-Service (BaaS) platform designed to remove adoption barriers and empower businesses of all sizes.
Blockchain Simplified: ARK, ARK+, and PrivaSea
Could you explain how Qila’s solutions, like ARK and ARK+, differentiate themselves from other blockchain services in the market?
Qila offers three core solutions—ARK, ARK+, and PrivaSea—that redefine blockchain adoption:
- ARK: A multi-tenant platform enabling businesses to explore blockchain with minimal investment. Firms can experiment with use cases like tokenization and supply chain tracking without needing dedicated infrastructure.
- ARK+: A customizable, permissioned blockchain network for enterprises requiring advanced control, security, and scalability.
- PrivaSea Wallet: A user-friendly token management solution that simplifies interactions with tokens and NFTs, catering to various industries such as luxury goods, retail, and healthcare.
“Our differentiating features include plug-and-play APIs, rapid go-live timelines, private cloud infrastructure, and an end-to-end ecosystem that simplifies blockchain integration for businesses,” highlights Vishal.
Addressing Industry Barriers
Blockchain adoption has faced significant challenges, from cost concerns to regulatory hurdles. How does Qila address these issues?
Qila tackles these barriers head-on with a threefold approach:
- Regulatory Compliance: By adhering to international standards like GDPR and evolving with regulatory frameworks, Qila minimizes risks for businesses.
- Cost Efficiency: Leveraging private cloud infrastructure, low-code APIs, and pre-built workflows, Qila reduces adoption costs significantly.
- Simplified Integration: Ready-to-use templates allow businesses to focus on growth rather than grappling with technological complexities.
PrivaSea: A Game-Changer
Your tokenization solution, PrivaSea, is being positioned as a key innovation. Could you elaborate on its potential impact on businesses?
PrivaSea enables secure and transparent interaction with tokens and NFTs, integrating seamlessly into enterprise workflows. “It’s not just a wallet; it’s an agile solution for industries ranging from retail loyalty programs to healthcare data management,” explains Sid.
Use cases include:
- Luxury Goods: Authenticating products with tokens.
- Retail: Managing loyalty rewards.
- Supply Chain: Tokenizing real-world assets for traceability.
- Healthcare: Securing sensitive data-related tokens.
“PrivaSea’s flexibility makes it a powerful tool for enterprises to unlock blockchain’s potential across diverse industries,” Vishal adds.
Global Expansion and Regional Opportunities
Qila is expanding to Europe, the Middle East, Africa, and Southeast Asia. What unique challenges and opportunities do these regions present?
“Each region has its own dynamics,” says Sid. In Europe, stringent regulations around data and digital assets require robust compliance. In Africa and the Middle East, blockchain can address inefficiencies in agriculture, energy, and supply chain management. Southeast Asia, with its booming fintech landscape, offers opportunities in cross-border payments and secure transactions.
Challenges include navigating diverse regulatory environments and addressing varying levels of digital literacy. However, the potential for transparency and efficiency makes these regions ripe for blockchain adoption.
India’s Blockchain Potential
India presents a complex regulatory environment for blockchain. What are your thoughts on the country’s future as a blockchain hub?
“India’s regulatory environment is evolving, but initiatives like Digital India and blockchain use cases in land registry and public services show promise,” notes Vishal. “We’re actively collaborating with businesses to implement blockchain solutions that align with local and international standards.”
Balancing Innovation with Privacy
How does Qila’s use of private cloud technology ensure security and regulatory adherence?
Qila prioritizes data security and compliance by:
- Implementing enterprise-level encryption.
- Aligning with global regulations like GDPR.
- Utilizing granular access controls.
- Conducting continuous monitoring and security audits.
“Our private cloud infrastructure ensures that enterprises can innovate with blockchain while maintaining robust security and compliance,” emphasizes Sid.
Subscription-Based Services for SMEs
Could you shed light on Qila’s subscription model for smart contracts and NFTs?
Qila’s subscription model lowers the financial and technical barriers for SMEs. “Our pay-as-you-go structure allows businesses to start small and scale as needed,” says Vishal. This model enables SMEs to explore blockchain use cases like process automation, loyalty programs, and digital asset management without heavy upfront costs.
The Vision Ahead
Your vision is to make Qila the AWS of Layer 3 blockchain. How are you working towards this ambitious goal?
“We’re building scalable infrastructure, ensuring cross-chain interoperability, and continuously innovating to add new functionalities,” shares Sid. By simplifying blockchain adoption with low-code APIs and delivering enterprise-grade solutions, Qila aims to become the go-to platform for Web3 solutions.
Conclusion
Qila’s journey from a vision to a transformative BaaS platform reflects its commitment to innovation and solving real-world challenges. With a robust portfolio of solutions and a clear focus on simplifying blockchain adoption, Qila is poised to become a key player in the Web3 ecosystem, empowering businesses across the globe to embrace the future of technology.
