Blockchain technology has revolutionized the tech world by making data storage open-source and safer beyond imagination. However, despite the possibilities, the use of blockchain technology remains limited across the country. Beyond Imagination Technologies aims to bridge the gap by providing tailored solutions to startups, enterprises, and governments and helping them solve pain points in their ecosystems with respect to the use of blockchain.
Started by a passionate group of individuals who want to make the technology of blockchain accessible to all, Beyond Imagination’s product offerings range from tamper-proof digital identification, fleet management, and BIT-based loyalty programs to new-age tools for supply chain management and aiding digital transformation.
Armed with the passion to make blockchain solutions accessible to all, Beyond Imagination has grown leaps and bounds since its inception. They have signed joint development programs with highly esteemed institutions of India within a few months of starting operations and are also increasingly engaging with large corporations, high net-worth individuals, and big institutions. Enabling a cost-effective and easy transition for users from web 2.0 to web 3.0 has been one of the major reasons for their success. They have successfully bridged the gap between the market need and the use of blockchain-aided solutions for sustainable business growth.
As explained by the Founder and CEO of Beyond Imagination, Nikhil Goyal, “blockchain technology will have a far-reaching effect on the Indian economy in times. It is a revolutionary technology as it works with a distributed ledger system which means it is decentralized in nature. Therefore unlike with cloud storage systems, only authorized users can access the data inside of a blockchain network. This has far-reaching possibilities as the entire process is more secure and less prone to fraud and counterfeiting. Increased data management efficiency, tamper-proof information security, and increased transparency are just a few ways in which blockchain will benefit business operations in coming times.”
About Nikhil Goyal
As a seasoned entrepreneur and technology enthusiast, Nikhil Goyal has worked on several important projects throughout his professional journey including manufacturing projects in Bhutan before starting his blockchain venture under the banner of Beyond Imagination. His fascination with blockchain technology and passion to tap into its endless possibilities have been at the center of his work ethic at Beyond Imagination.
Nikhil founded Beyond Imagination to solve real-world issues with exciting and creative solutions. And in a short span of time, he along with his team of high-achievers have managed to build a blockchain-powered enterprise that is not only offering innovative solutions but is actually solving the pain points of businesses across the country.
Here are his views on how BlockChain helping Beyond Imagination to provide solutions…
How does Beyond Imagination Technologies make use of Blockchain to help provide enterprise solutions?
The core of our operations relies on first studying and understanding the pain points of our client’s business along with the systems and processes that are currently in place. And after conducting an in-depth analysis, we develop proprietary solutions for them based on blockchain technology. In short, we enable a ‘digital transformation’ for our business partners, wherein we evolve their current setup to make it more efficient and future-ready.
For example, at places where a lot of paperwork is involved and there’s frequent overlapping of work, we help create workarounds using smart contracts. We also help analyze the costs and ease of use by delivering unique user experiences using web 2.0. In fact, our loyalty program solution has been successfully deployed by Cafe Coffee Day and is helping them in community development activities.
How Beyond Imagination is helping businesses?
Considering the amount of data that is being generated nowadays and the fact that crucial aspects of our lives such as communication and financial transactions revolve around the digital space, it is of utmost importance to ensure the safety and security of online data. Security, misuse, storage, traceability, accountability of data, etc. are some of the key challenges we face in today’s time. And despite this being a towering challenge, all these pain points can be solved using blockchain technology.
Since it is based on a distributed ledger system, a blockchain network is decentralized in nature and allows only authorized users to access the data inside it. In addition to this, every block in a blockchain consists of a unique hash, which makes it tamper-proof and indestructible. We are currently working with many big organizations to implement these solutions in real-world applications.
How Blockchain technology has revolutionized the tech world?
Crypto was the first major blockchain application that caught the world’s attention. However, there’s much more to the technology than bitcoins and cryptocurrencies. Blockchain technology has opened multiple possibilities for both individual users and big organizations/ governments and the same is gaining recognition across the world. From smart cities, data security, and supply chain management to loyalty programs, the adoption of blockchain into real-world applications has started in a big way and is here to stay.