Tech Companies pivoting into Web 3 beware! T&C Apply. Discussing the prime factors to watch out for, how to find the right customer, building a community for tech companies and more. Yokesh Sankar CEO and Co-founder of XYZ startup discuss the transaction between the two. Surprise findings and understanding about the tech behind BlockchainX.

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BlockChainX - Yokesh Sankar

Participants:

• JP (CMO of AdLunam)

• Yokesh Sankar (Co-founder of BlockchainX and BX Finance)

00:00

JP

This is JP from AdLunam Inc. bringing you everything about web3. That being said, ladies and gentlemen, we have a special guest today. The organization that he represents is into the foundational fundamental building blocks of this entire industry. You need people that are builders and this is one of the fastest moving, one of the rising companies that are coming into the space. And of course, we have their COO here and co-founder here today to talk about this. But before we begin the show, few announcements. Ladies and gentlemen, please remember, in case we get cut off, run back to the AdLunam Inc.

01:08

JP

on Twitter and you will find your link to get back into the room. That one. Views expressed on this program belong to that of the speaker and are meant for educational purposes only, not to be considered as financial advice. Finally, ladies and gentlemen, you have reaction buttons provided in Twitter spaces, so use them liberally throughout the show whenever you come across something that you enjoy having heard from the speaker. Finally, at the end of this particular program, we will have a segment for question and answers from the audience. You can raise your hand and request to speak, but it also works quick. If you would at any point of time like to ask a question, send it into AdLunam Inc. And we'll have it answered for you on the show. And for those of you that are new to the show today, welcome once again.

01:57

JP

AdLunam is the industry's first NFT integrated Engage to Earn seed crowdfunding and IDO Launchpad with a Proof of Attention allocation model. Effectively, what that means, ladies and gentlemen, is that we follow an Engage to Earn mechanism which allows you to earn points and allocations rewards and all the good stuff on the AdLunam Launchpad based on your attention. All right, that being said, Yokesh, welcome to the show. Glad to have you here. I know that my team worked quite hard to get you and know a lot of scheduling to get you here. I'm going to start straight off by I've introduced you as a co-founder and CEO at BlockchainX and also at BX Finance. So Yokesh, tell us a little about you and what got you to this stage in the industry today.

02:52

Yokesh

Thanks for the introduction, JP, and thanks for everyone here listening to the space. This is Yokesh and I'm the co-founder of BlockchainX and BX Finance. So I started BlockchainX with my friends and co-founders with a vision to make a footprint into this revolution technology. Right now we have a team of 75 plus blockchain devs and consultants here in India. So BlockchainX is a Web3 development company that gives you end to end solutions, everything in Blockchain, right? From Token Development NFTs, Metaverse, Development smart Contracts, DApps Development. So we are in this industry for five plus years now and successfully delivering over 100 plus projects. And we also have an internal training academy to get more people into the Web3 space. So this week we have launched a new product into the Web3 market called BX Finance, which is a no code platform for the Web3 entrepreneurs.

03:51

Yokesh

So this is me and where we are going at now.

03:54

JP

Okay, fantastic. So that tells us a little about your profile and where you're at. But I'm curious to know, is every listener that's ever been on the show what they want to know about who is the person behind this? Also, what was that moment when the switch just flipped and you said Web3 is the space to be for me? What was that moment like for you?

04:20

Yokesh

04:55

JP

Okay, so Bitcoin was the turning point for you. What was it for you personally? Was it just that? Okay, hey, you know what I've heard about Bitcoin, it's at $1,000 at this point. It came up from a few dollars just a few years ago, but you're still hearing about it being a scam. So that would have been one part. Right? But then there was one part.

05:18

Yokesh

06:06

JP

Okay, so I want to dive a little into what keeps you passionate about that, right? I mean, there's obviously that, okay, hey, there's an opportunity in the market. So this is something that we can get into. We have the ability to use what we've learned out of college into this new avenue of an industry. But there has to have been some moment some point, some divine sign, if you will, that said, hey, your case needs to be in this space. So I'm looking to hear, what was that for you?

06:38

Yokesh

07:34

JP

Okay, so that was it for you. It was primarily that there was a whole new world out there with opportunities and it came calling to you. And that's what got you interested first, what keeps you passionate about it.

07:49

Yokesh

Yeah. So contributing to the development, contributing to the community and building new products to the industry keeps me more passionate. And delivering scalable, secure Web3 solutions to the market is what keeps me going. So we have been working, as I told you, we have been working with multiple entrepreneurs around the world with new ideas and efficient products, and contributing to the ecosystem keeps me going and passionate about the industry.

08:22

JP

Fantastic. Yokesh, you say we when you're doing that. So obviously you have a very strong team with you, maybe your founding team or the colleagues that are there with you. Tell us a little about them.

08:34

Yokesh

Sure. So if you see for me from starting, it has been my co-founders and my development team completely here in India, who have been supporting and they are being my biggest strength. So I've been fortunate to work with right people at the right time. So if you see when you're by yourself, it is always hard, but if you have a great team and the people that can help you grow, that's what is required for you. And for anyone starting a new project, the first advice which I'd give is get the right team on board. So if you have a right team, so that's when you can take off on your project. So this is what keeps me going on the team side.

09:17

JP

Fair enough. So shout out to the team at BlockchainX, Yokesh, he's saying in so many words that he loves you guys, he loves working with you guys, and that's spectacular.

09:28

Yokesh

We have people listening on the space here as well from our team.

09:33

JP

That's lovely. So big shout out to all the guys who from BlockchainX. Give us a reaction if you're in the room, ladies and gentlemen, especially if you're from the blocking team. Do something to show us that you're here. All right. I can see a few of them already reacting. That's fantastic. All right, so needless to say, if you want to go fast, go alone, but if you want to go far, go together. Right. There's an old adage that says that. So your family is with you, the people at BlockchainX. Now, what I want to understand also is the community that you've built around you. Right. And of course, as a blockchain development company, community is extremely important. I've got this question in two parts. So the first one is what is that community for you and how do you view your community? How do you engage with them?

10:35

Yokesh

Sure. So I would say for any project to get successful, community is the ultimate thing which is required. And I also think that the concept of community has changed a lot in the past two years. So people think community is just having a bunch of people on your Telegram group or your Twitter followers or on your Discord, but that's not the case now. So I think I strongly believe that community is strongly important for a new project or even an idea is because trust is what that matters. So a community means people who understand and relate to your idea and trust on what you do. So having a great community brings in more credibility to your project, and that's more than anything which is required to go into the market.

11:25

JP

Fair enough. Okay. Yokesh. I think that makes a lot of sense. It's not so much about the numbers, it's more about the people that trust you. And you trust them as well, right?

11:38

Yokesh

Yeah.

11:38

JP

Okay, fair enough. Fair enough. So that's community for you. Now, given that you all are working in building DApps, in building the technology that everybody is using in this industry. Right. The thing that I'm curious to understand is what are some of the projects that you may have worked on broadly? I don't need specifics per se, but I'm looking for what you've done that you are most excited about, the projects that you're proud about, that you can speak about. Sometimes they are NDAs. Totally respect that. But what are some of those projects that you've worked on that you absolutely love? Right. And why did you choose those? So, two parts to this question.

12:25

Yokesh

Sure. So we have a client of us who has been working together with us for almost like two years now. So we have an NDA in place, so that I cannot mention the name, but I can give an overview of what all we work for, like how we started collaborating with them, is we met them in Dubai on an event. So they gave us their scope of idea and what they want to do on the next three years. So they were a real estate company, and they wanted to start kind of get into the crypto web3 ecosystem. So we gave them a roadmap like what is the list of steps which you need to do to get into the web three market? First you need to create a token for yourself, then you can set up a website, then you can create a product which support which gives utility for your token.

13:18

Yokesh

So we did an NFT marketplace for them, which is like a real estate NFT marketplace where people can come and rent out or invest in the real estate projects which they have and get fractional payouts. So that's the most interesting project we did. And how it went was the project was really a hit and there were a huge community which was supporting them and we also did their dedicated blockchain. So they developed a dedicated blockchain like polygon for them, like polygon ethereum for them, which specifically supports the DApps in their ecosystem. Like they did an NFT marketplace with us, they did a bridge platform with us. So everything supporting over their dedicated blockchain was the most interesting project which I have been working on in this space for almost two years now.

14:12

JP

Okay, fair enough. Why did you pick them? Or rather, why did you pick this project? Of all the projects that you or rather, why did you pick this one as the one that you're most proud of?

14:25

Yokesh

So, firstly, I would say is the team. So before starting to work on any project, we kind of do some due diligence on our side. And what we see first is for the team, like what they do, how well they are experienced and what is their leadership like. So whether they are doxed or kind of having some privacy. So these are a few things what we look forward in the team, if they are straightforward and things like that. And second thing is the project scope which we expect for. So whether the idea is unique, what problem is it solved whether when they launch, even though we develop and give it to them, it's like after what we do is the part they need to bring it to the market, whether they are efficient to bring it to market and launch it as a successful platform.

15:13

Yokesh

So that's when we get rewarded as well, right, so we look for these kinds of things and last thing which we see is for the community. So what kind of community they have and whether they really care about the community suggestions and things. So this is how we looked for and we had multiple rounds of discussions with them and then we had them on board.

15:37

JP

Okay, so, Yokesh, this is quite interesting and thank you for sharing this as a unit of insight because what you've effectively told us is that the first thing is the team capability, right? Which means that, and correct me if so this means that your first orientation is you want to know that you're able to deliver what is being asked of you.

16:00

Yokesh

Yeah.

16:01

JP

Okay, so that's part one. Part two then is who is actually the client, right? Are they straightforward? Are they doing what they say that they'll do? Also, what is the manner in which they operate? How professional are they, if there is a metric of some sort, how professional are they when it comes to your dealing? And the third one is, do they inspire trust with their own community? Right? Is that your measure?

16:40

Yokesh

Yeah. So basically, if you see there are two kinds of people who approach us for projects. One is they're like newbies and new entrepreneur web3 entrepreneurs who wants to launch their NFT or Crypto project. Another one is an experienced owner who already has an experience in this industry and who are looking to launch a next product. So the way of approach for both will differ. So what we do is for newcomers, new entrepreneurs, we do kind of an education system wherein we tell them what is required for them, what they need to do. These are the steps you need to do and evaluate them. And we make them evaluate themselves whether they are able to kick start with the development and then if they are able to get into the market and do marketing and bring in users for the platform. So we make them realize and then we start with a project.

17:40

Yokesh

So at that is the point where we identify the client whether they are capable or not. Next part is comes the easiest part, an experienced entrepreneur who can kick start a new project. So they come in a formal way, they come in a professional way. They give a scope document to us, we go through it, we give them a quote, and we have Sprint plans ready for them for the project. And that goes kind of a smooth kind of a project. So this is how we work in a service based company like approaching to a Web3 project.

18:19

JP

Great. Okay. So Yokesh, thank you for sharing that insight. It's extremely open, it's extremely insightful, and it's also very what do you say? I'm trying to find the right word. It sounds simple, but I'm certain it's not as simple as it sounds. Right. There's obviously going to be a lot of back and forth with you and the team. How is that going to happen? Are they really doing what they'll say they'll do? Because that's obviously where you want to be at in this industry, right? Okay, spectacular. So being able to pick the right project is certainly being able to pick your winners, the ones that will give you something that at the end of the day, you say that you're proud to have worked on a project like this. That's great. Right? Now I also understand that you've worked, as you've said, across multiple projects in this industry and in the Web2 space as well.

19:17

JP

So I'm curious to know at this point, since you all are in the position where you're building, to call them utilities would be really undermining them. But to build these value added, these value products that have this real life utility, where do you see the arc? Where is the trend getting to? Obviously from the time that you've started the projects you've picked, the winners that you're working with begins to create a sort of horizon for you about where this industry is going. What does that look like for you Yokesh?

20:03

Yokesh

okay, so if you see this industry is right on the starting stage. So what do you say? There are most of 80% of the people who are getting into the market are newcomers. They want to explore something and want to do something to this space. So right now, if you see this industry is still maturing and there are multiple things to be done for this industry to get stabled. So if you see in the market now there are multiple N number of blockchains coming up with new ideas and new implementations. So which means the market is not stable and it's just still evolving. So after five years now, if you see at this stage, I would say still it requires another five years to get more stable. People like to have more people into the community working and to get more stable. So at this point, I would say the industry is still maturing and not ready for the complete adoption.

21:12

JP

Granted, I mean, we have what, less than 5% of the entire world's population doing anything related to web3 and crypto. At this point of time, larger brands are beginning to see the value of having NFTs, being in the metaverse advertisements, your skins that are out there in the game and in that way literally having some skin in the game. But what I'm also looking curious to find out from your perspective is as you're building this, even though it's still nascent, right, five years from now, where you see that trend going, what is the maturity that you're expecting?

21:57

Yokesh

So five years from now, I would say web3 is the next revolution which is going to be there in the Internet and computer. So right now, if you see there are multiple social medias coming, multiple projects coming into the market, and privacy is the ultimate thing which stands out at the last. So data and privacy is the ultimate thing which comes out at the last. So at one point there will be a stage where all the projects and everyone has to adopt to web3. So that's when the complete shift will be happening. Privacy, data and security will be the utmost point where all the projects on the internet has to focus on and web3 will be the ultimate goal for everyone to adopt. So that's when the remaining 80%, 90% shift will get into the ecosystem and that's the boom everyone are waiting for in this industry.

22:56

JP

Okay, Yokesh, I'm going to throw you a curveball, right, and here's how it's coming. So what I'm looking to also put a finger on is some of the industries that you've worked in where the solutions are provided for. Like you've spoken about one being in real estate, right, and real estate, of course, sporting goods, luxury cars, those have started getting into the web3 space in some shape or form, right? Yeah. Who else needs to join in for that larger adoption to take place, from your perspective? Of course, who else needs to come in for more mass adoption?

23:38

Yokesh

I would say existing larger social media players, twitter, Facebook, Instagram, so these are the key players where they handle with personal data and privacy kind of things. So if these people start adopting, obviously like other players into the market will get adopted. So the mass adoption comes with the social medias starting to integrate with web3.

24:07

JP

Okay, I'm trying to look at it with the same lens that you are, and I don't mean to put you on the spot. But that being said, you've had Facebook that has tried Meta, you have Instagram, Reddit that are looking at NFTs. What further are you expecting them to do?

24:31

Yokesh

So if you see blockchain is not just crypto and NFTs. So blockchain as a technology has more advantages than just tokens NFTs under. So tokens NFTs are just use cases of what we can do with blockchain. So if you see, for example, what I can give you an example is that, for example, if you take Instagram and we all have our personal data, which is stored on Facebook's Meta server, so all our data, our interest and everything is stored over there, which in the sense Facebook has access all to us and they have option to access it anytime and they can do whatever they want with the data which they have. So if we have a solution in place with blockchain in middle, so we make the person that is you and me to have access to our own data and communicating through these social platforms.

25:32

Yokesh

And this is how this is achievable with blockchain. So when primary companies do these kinds of activities, so that's when the actual use case of blockchain will come into the picture and the web three market will grow. So there is more use cases of blockchain, more than just Tokens and NFTs, of course.

25:57

JP

Okay, fine. So that being said, obviously when you have it's become clearer now that obviously with the more that somebody is able to use it and of course the largest user base of technology today is social media. So the moment that they adopt it much deeper, you're going to see people also adopting it much deeper. That's very insightful. Super. Okay, thank you for that. Yokesh, I want to pivot a little bit now that we've spoken about that, but also ask you, because when you look at projects that you've done, when you look at the technology that's out there and various chains that you're building on? Curious to know. Do you have a favorite? Or how do you choose the one that you find that has the most promise?

26:55

Yokesh

Sure. So Ethereum was the first blockchain, EVM based blockchain out there in the market and that's how DApps started. So that was the initial preference, which we had. But that preference changed a bit when new players came into market like Binance Smart Chain, Polygon and few other chains like AVAX. And these players came into market, the reason being ultimately the reason was the transaction cost was the first reason. Second one is the transaction speed, which we get with the cost. That was the second reason. So primarily, if you see, almost all the EVM chains are going to behave the same way. So for all the EVM chains, the programming language is called Solidity and a solidity code working on Ethereum blockchain will work the similar way on a Binance Smart chain or Polygon. So ultimately the core language is same, but the way how they function is different.

27:54

Yokesh

That's what makes the transaction fee difference and the transaction time difference. So right now we are going with Polygon and Binance Smart chain in our company. There are a few other blockchains like Solana and Cardano into the market, but Solana has advantages as well. But on the Cardano side, so we don't recommend much as there is a long gap in the developers learning curve considering it's harder language and difficult to adopt. So that's why Cardano is not still in an expanding stage comparatively to others in the market. But yes, Cardano has a larger community and they are doing more works into the blockchain and they are doing more stuff, hopefully in future years. We are looking for targeting for getting into Cardano next.

28:53

JP

Fantastic. Fine. So thank you for sharing that. I think for those who are aspiring engineers or those that are engineering or developers that are there inside the room now have an idea about what to turn to for early adoption or quick adoption, and then they can go explore the other multitude of chains that are out there. Right, fair enough. Okay. Right. Coming to the second part, that is part of the business that you've developed. Right. And needless to say, there's a multitude of people that are getting into the engineering space. They want to be developers. I understand India has a huge developer community because there's tons of people that are in the engineering sector or studying engineering and are getting into the It space. Right. But that being said, I'm curious to see that because we know that BX Finance is a sort of no code, web3 platform.

29:58

JP

Tell us a little about that and then I have a few more questions that dive deeper into BX Finance.

30:08

Yokesh

Sure. So BX Finance is our first project that we have built for the market that is like with BlockchainX, we have been doing B2B products. We have been helping our other entrepreneurs. So the first time we are launching our own product into the market. So being that said, the main core advantage of the core aim, what we have we are trying to achieve with BX Finance is that we want to help Web3 founders get started into crypto with a minimal cost and minimal investment. So that is the ultimate idea, what we are looking to achieve. So if you have a great idea and if you don't have funding to hire a development company to Kick start with your project, so BX Finance is for you. So if you see in the market, there are multiple 90% of people who are non-technical founders, and what they want to do is they want to get started with the crypto or NFT business, but they don't have the funding and don't have the knowledge to code themselves.

31:15

Yokesh

And that's what stops them from getting into the market. So this is where we want to make a footprint. We want to break the barrier for new entrepreneurs to get into the Web3 ecosystem. So we have been working on BX Finance for almost two years now. We did some R and D and finally we came up with this platform. So in BX finance, if you see there are a number of modules which will be helpful for web3 people to get started with your token launch, their NFTs kick start with your launches, then like multiple tools like Airdrops lockers then other kind of DEXs they can set up their own staking pools own farming pools which they can give it to their community. So there are a number of projects modules which we are launching up. So currently at this point this week, we have launched two modules on the platform and following weeks we are looking to launch one by one.

32:18

Yokesh

So right now, if you see, we have launched a token generator module and a token migration module. So the reason for choosing these two modules is that as the market was down for a long time and multiple token based projects have been lost liquidity, and people are looking to create next version, a version two version of their existing token so that they can give their end users to migrate from their V1 to V2. So that's why we have launched this token generator and this migration platform which will be useful for the existing projects to migrate from their existing V1 token to their V2 token.

33:01

JP

Understood?

33:01

Yokesh

Yes.

33:03

JP

Okay, that sounds really spectacular. I think you've hit the nail on the head having developed this. Also, considering that there was a lot of bear market activity, there was a lot of, what do you say, losses that ensued because of the lowered quantum of activity, right?

33:30

Yokesh

Yeah.

33:31

JP

So the. Product seems to have fit quite well that you've developed. Right. Now, help me understand, because most of our users, most of our listeners on the show and the ones that will follow are very happy when they hear something that says no code. But you can put it together, right? Very happy to hear that, especially people who are not from an engineering background, because it gives them that sense of control in an area where they don't have any ability to control. Right. Okay.

34:10

Yokesh

Let me explain you this. Yeah. I would give an example with the competitor itself. So there are multiple no code platforms in the market. So, for example, if you take PinkSale is a no code platform as well. So PinkSale has a token generator with themselves. But the problem with PinkSale is that when you create a token with them, the Smart Contract is not verified on the blockchain, which means you have no control to the Smart Contract itself. So everything is there with the Pink Sale, and you can just get the tokens in your wallet. But you cannot do any changes to the Smart Contract, which means you cannot update any value. You cannot do a read operation, you cannot do a write operation, which you can do from the Explorer. So what we have done is, in our BX finance, what we have done is we have a module.

35:06

Yokesh

So after you create a token, you can import the address and access all the functions which is there in the Smart Contract. So which means, like what you do on the Explorer, you can do all the read write operations directly from the platform itself. So this is kind of a new initiative which is not being done by any token generators in the market. Also, we have brought down the module fee to exactly 50% from what current no code platforms are charging. So this is how we see to stand out from our competitors.

35:41

JP

Fantastic. I think that this is something that, like you said, right? You're putting control in the hands of the people. You're giving them the full range, that is the whole nine yards exactly. In what you've built for them, and you've built it for the masses. That seems to be absolutely fantastic. I've got one last question, as I said, since we're diving deeper into this particular point, and that question is, while you've explained the use cases, what are the ideal type of projects that should approach you? What are the ideal kind of people that approach you that you've already seen? You know for a fact this will work very well for them at this point of time.

36:25

Yokesh

Okay? So that completely depends on what the entrepreneurs want to do themselves. So if they have a project and if they have a long term goal with them, a correct roadmap with them, so we can come on a discussion together and go through over it. So that would be the ideal thing. So ultimately, the initial planning of the project is more important than what you do on the mid. I hope that answers your question. Just in case, if I'm out of it, please, like JP, repeat it again.

37:04

JP

Yokesh. Sorry, I think I've kind of lost you there for a second. As you were explaining that the voice wasn't coming across clearly. Could we start there again, please?

37:14

Yokesh

Yeah. So what I was telling is for new entrepreneurs who are launching their crypto business, so ultimately, the initial planning on the project, the roadmap, what they want to do, is the ultimate crucial part, I would say. So if you have a solid plan in hand, and if you have a solid team in hand, so it is possible to go through it and at last, the community is also going to expect the same. So you keep delivering it to the community and the community will take care of the rest.

37:48

JP

Okay, fair enough. Fair enough. Okay. So that being said, ladies and gentlemen, you've got to check out what they're doing over at BX Finance. For those of you that are young entrepreneurs or those that even have an idea or even a friend or somebody that you know who's an entrepreneur, reach out to Yokesh. You can reach out to him on Twitter, as well as the block finance team that's in the room, as well as the BlockchainX team that's in the room, and they will guide you to what you want to do. So that's absolutely spectacular. Okay, that being said, let's pivot to another dimension in the position that you are in the role that you're in. When people talk to you about this industry being so volatile, what is it that you tell them in terms of, you know, when I know that you mentioned an aspect of stability and one of the points was, of course, crypto as an industry is volatile and it's not limited to crypto.

38:52

JP

So we'll bring it over to Web3. Right? What is it that you tell them? Because I'm certain you have a larger peer group that's in the Web2 space and they're saying, hey, you know what, everything is hunky dory right here. Why are you in focus on blockchain technology and the Web3 industry? What is it that you say to them?

39:13

Yokesh

Okay, so I would say that all assets are volatile under right condition. So if you look at the stock market, even NASDAQ has crashed multiple times in the past. So cryptos are being started to be accepted as a class of asset around the world now. And I accept there is volatility, but what about Bitcoin? So it was volatile long ago, but currently in the market, if you see it's not much volatile, this is because the market is starting to mature. So I would say as it starts to get mature and these digital class of assets will see more periods of stable growth. So at last, as you know, as an investor, you know that volatility is the thing which gives you big gains. So if you are ready to invest in crypto, so you need to be ready for it. And this same volatility is volatility currently.

40:13

Yokesh

Now it's across all the markets.

40:17

JP

Understood? Okay. So volatility hits every single industry, especially if there's a specific asset attached to it. It's more volatile. Nobody is immune to it. And that's what you tell them when it comes to crypto, right?

40:30

Yokesh

True.

40:31

JP

41:22

Yokesh

I would say the primary challenge, what we had was putting in the right people. So that was the initial challenge we had. So initially we had around like, three people with us, and slowly we started developing. And once at one point after crossing the second year, so we had the right team with us and we had the right people who were aligned with our vision. So that has brought us to this stage now. So now if you see after six plus seven years, so if you see almost people who were there after two years when we started are still there, working together with us, together with our goals. So getting up with the right team is almost the primary thing which everyone needs when they start a company. And were very fortunate for it to work with the right people with us. So that is the thing which I want to say from my side.

42:16

JP

Okay, so Yokesh, you focused on internal branding, getting the right people that are close to you, getting the right kind of team together. It obviously is something that is painful. It takes time. That's a little bit about your internal brand. I have to put my branding hat on at this point and ask you, when people think of Blockchain X, what is it that you want them to think of?

42:41

Yokesh

Web3 for entrepreneurs. So no code Web3 platform for entrepreneurs. So ultimately, if you want to launch a project on Web3 space, BX finance is for you. So if you have a minimal budget with you so BX Finance is the product which you need to go for Kick starting, a project, grow your community and sustain in the market by giving a utility for you.

43:14

JP

Okay. Okay, fine. So, Yokesh, thank you for that. Thank you for sharing those insights. My question to you at this point is you've shared with us a lot about what's been happening, how you went about it, the team that you got together, the community that you've built, the journey and the arc and the story that you lived. Right. And through all of this, through every person's journey, the one common point is, of course, the passion, but also the orientation to keep going. Right. So I need to ask you, what is your personal philosophy? What is it that kept you going?

44:00

Yokesh

I would say dream. So if you have a dream and if you have a passion for it, for what you do, so more than a work, if you have a dream which keeps pushing you each day, so that's what takes you ahead. So have an idea, think of an idea, work around it. So keep pushing for it. And that will take you automatically to where you want to be and it will not let you sleep. So that's what has brought me here after seven plus years now into this market.

44:34

JP

Fantastic. Okay. Certainly have a dream. Have a dream more than have a goal. Have a dream and every day walk in that direction. Is that right?

44:44

Yokesh

Yeah.

44:47

JP

All right. Thank you for sharing that Yokesh. I'm certain that's something that every one of us can aspire to. I'm now going to open the room for questions from the audience. Oh, my team informs me that there already are some questions that have come in. The first question I see Yokesh is coming from Andy. And Andy is asking the question, is no code better than having code?

45:12

Yokesh

So I would say no code is for beginners who wants to kick start with the low budget. So if you have budget with you, if you are ready to spend few money on the development side, so I would say hiring a dedicated development team will be the best option. So instead of hiring a separate single developer for your project, hire a dedicated team. So team in the sense you need to have a front end developer, a backend developer, a QA testing person, a project manager. So having a dedicated team for your project will automatically accelerate and keep the development moving and finally you will have a successful project. But if you have a single developer with you, it is going to be a pain for you and you cannot achieve what you want to get. So if you're ready to invest in this, obviously first option would be to go for a dedicated team.

46:04

Yokesh

Hiring. If you're not ready for investing, then no code platforms will be the initial investment which you want to do, which you can do to get started to go into the market. So maybe what you can do is go with the no code platform first, get started, go into the market, develop and bring something to the market, raise some investment, and then come for getting into a dedicated team, hiring for your future developments.

46:31

JP

That seems to be a very good strategy. Yokesh start with something that's low cost, but you can build at least your then you know, with the funding that you get, you can go into all out development. Yeah, okay. Super. All right. Okay, the next question. Oh, I've got two questions. I've got two questions, both of which seem a little bit controversial, but I'm going to ask them anyway. So Monero Forever says, what is the disadvantage of no code?

47:06

Yokesh

The disadvantages I would say you cannot extensively build a large scale DApp with the no code platform. So specifically, if you see with our no code platform, what we are looking to is with the set of modules for this year, we have around 15 plus modules in our goal, like ranging from launching your own NFT Marketplace launching your own staking pool launching your own farming pool so with a set of contracts which you can use to develop your own product. So other than that, if you have a custom requirement which is not supported in our no code platform, so that is where you need to look forward for hiring an external team. So that is how the no code platforms have this is the minimal disadvantage which I see with the no code platforms.

48:00

JP

Okay, fair enough. But it does fit a need, it does suit a purpose. And that being said, it is built for a particular segment of the enough. Fair enough. Okay, I have Gloria who's asked the second controversial question. This one, I suppose. Gloria is not really an AI person. The question is no code going to replace developers?

48:32

Yokesh

No. So no code is nowhere going to replace developers because developers are the people who are creating no code platforms itself. Okay? So with no code platforms, you can kick start and get into the market. So that's what I said with chances with the previous question as well. So if you want to kind of a custom development, for example, if you are launching a new project, like completely different like project called Cardano, which is completely different from existing blockchains so obviously you cannot go with the no code platform. You will need to put in your minds, you need to put in developers to do R&D and come up with the new solution for it and then start the coding for it. So it is like a long set of process which you cannot obviously do with the no code platform.

49:21

JP

Exactly. And I think you've also hit on the head about the fact when it comes to AI, where a lot of people are concerned that AI is going to be replacing tons of jobs in the industry, right. The same way that people thought computers would do that.

49:36

Yokesh

Right. So my take on AI is that AI is going to replace multiple jobs, but jobs in the sense it's not going to replace the developers. I would say AI primarily now is going to replace the level one support kind of people who are there in the market. So it is going to automate basic kinds of tasks. For example, if you say in a company, when you reach out to them, so you get an automated reply, or when you contact them on a live chat, so an AI is going to reply you with multiple answers. So that is the level one kind of people which will be working in a company. So AI is going to replace that on the first place. So on the next phase, if you see AI will be like automating few tasks but not replacing it completely. So at least for the next 15 to 20 years, it is going to be evolving and automating task.

50:32

Yokesh

But as long as developers keep on upgrading themselves, keep on contributing to the market, they are going to sustain and it's not going to replace them.

50:42

JP

I agree with you when it comes to that same logic. Right. It's often the point in which even when the computer came in, and this is pretty much the same thing that AI is doing, if you track the trend between what the computer actually replaced and what AI is aiming to add more value to, it is more of a function than an actual role, right. Thereby replacing a function or one part of a job that somebody is doing, as opposed to the entire job or the entire scope of work.

51:19

Yokesh

Exactly. Correct. Yeah.

51:22

JP

Okay. Do you often have this conversation with other people? Do people come and ask you that, hey, is AI going to replace what we're doing going to replace us? Is there any point in studying anymore?

51:35

Yokesh

So right after ChatGPT, so there are multiple people asking us the same question. So this answer to all.

51:44

JP

Yeah, that.