It is a thing to learn about the blockchain and another thing to optimize the blockchain for good. Most Startups find it difficult to generate funds for their project in Blockchain Space.
Taha Sajid, Fintech/Blockchain Global Leader, in an interview with Coinnewsextra explained how startups can generate funds for their project.
Eng. Taha Sajid is a Chief Blockchain Consultant with Limar Global Tech(, Blockchain training alliance(BTA) certified Instructor and solution architect, Fintech/Regtec senior advisor in Hash Cash Consultants, Technical Director in Huawei, responsible for Blockchain/AI/Fintech/5G solutions and training.
He is ranked by Thinkers360 among TOP 10 Global Thought leaders in Blockchain, Fintech, 5G and Agile PM Space for Influencing, Consulting, Mentoring, Speaking and Entrepreneurship expertise.
He has been associated with building up Blockchain Labs, tokenized solutions, mentoring ICO/STO/Fintech startups and exploring Blockchain and Fintech use cases for Govt and private sectors.
Taha shares his experience and ideas with startups. He said,
“I see a lot of startups coming up every day to start their business but they could not generate enough funds to keep going. They need to know how they can source funds; this interview will really be helpful.”
Before starting any projects, startups need to know some things. They need to consider something before starting their project.
Then, what should they do?
“They need to know the exact market they want to launch their products. They need to know their market and customers and how they will attract them.”
“Apart from knowing the market, they need to know the regulatory bodies and how it will affect their product”
Also, you need to have a good business plan. You need to consider how you will generate the money? The problems you are trying to solve, how relevant and important is the problem and your solutions.
“Most people don’t focus on making a solid technical architecture.”
A technical architecture in this sense can be explained as knowing the platform you are using, how you will use it and why you are using it.
“Once you are solid in your technical architecture, you also need to plan on the solution architecture. After knowing how to use the platform, how will you integrate it into one place? How will you prevent cyber-attack?”
You don’t expect people to support a project with no proper plan and precautions. After sorting out all this, how will the platform be?
“Make a user-friendly platform. A lot of people will not use your application if it too complex. If you develop a user-friendly platform, it will be easy for anyone to make use of it”
Add some emotion into your product in a way that will attract investors. Investors will also want to know if you are not working out of the box. You don’t need side distractions.
Finally, organize your solution and product in a very acceptable way and try to have a “division of labour” platform that will make it easy for companies to select the part in which they can help you with.
If you have done all this in the right way, all that is left for you to do is to present and publish your product.
Do we have support from Bodies – Financial bodies and Regulatory bodies?
Startups with solid plans will get support from external bodies. You need not worry ones you have a plan. Even if you don’t get support from external bodies, work on making your project a very unique one that will solve major problems and source money.
There are different financial bodies that have been supporting startups in different countries. In the case of India, both private and public organizations have been supporting the emergence of blockchain. Other countries and bodies should take suit; they should encourage startups with ideas.
Apart from the financial bodies, Regulatory bodies have a role to play. They are in charge of regulating Funds to startups and ensuring they utilize funds disbursed to them wisely.
Regulatory bodies can help startups by minimizing the fees that will be paid by startups for creating their project. They can create a tax waiver until their businesses are stable.
All startups and newbies should keep trying.