Laxman Singh, Founder at Lapits Technologies
Great Companies: How did you get your idea or concept for the business?
Laxman Singh : Around 2017 while I was working as freelancer I realized that sometime people don’t pay for the work which you have already accomplished. Then came a thought about self-executed contracts which can actually solve the problems. Quickly I took the internet search and found that a blockchain is the technology which has true power to disrupt the trade industry using smart contracts. I was new to learn blockchain but it was something which I desperately looked for. Since then and within couple of months, I could say myself that I am self-taught blockchain developer & solution architect. I started exploring more about its use cases in different industries as well. More I explored the more I loved it. Then in 2018 Jan I started building my own in-house team of blockchain developers. We got the company (Lapits Technologies Pvt Ltd) registered in Mar 2018, since then we never looked back and now we are a team size of 30+ blockchain developers, frontend & backend tech developers. Rest remains the history.
Great Companies: What are the various Services provided by Lapits Technologies
Laxman Singh : Although we provide complete package of frontend & backend development for web & mobile but Blockchain development and consultation is our primary expertise. We help start-ups, other businesses around the Globe educate them and build their products on top of blokchain technology which makes the processes run automatic, faster than ever, cut the middleman cost, bring transparency, immutability, trust in the ecosystem. Our services ranges from Smart Contract development, DeFi, NFT marketplaces, Staking, Coin/Token development, ICO/STO, Smart Contract Audit, Payment Processors, Fundraisers, Cryptocurrency Wallet & Exchange, to name a few.
Great Companies: What makes Lapits Technologies different from hundreds of other blockchain technology companies ?
Laxman Singh :
We take pride in our services why because our insights about the core technology are so deep that makes us stand out among other 100s of agencies. Money is of course what everyone loves generating but is never the primary focus of us. We truly believe in solving problems than generating volume. Apart from this, since we are early adopters of this technology, so we had got ample time to research the market need, identify problems and build several solutions which are still being used “Product as a Service - Paas” which also helped us stand different.
Great Companies: What are the struggles and challenges you face?
Laxman Singh : Most difficult challenge we faced initially was hiring trained or experienced blockchain developers. Back then in 2017 it was difficult for people to understand what is blockchain and there were not enough substantial tech document to learn and grow. So, many of the times we hired unexperienced tech developers and invested to train them. Next challenge we faced about retaining the people in a small start-up. People come, get trained and leave.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for Lapits Technologies?
Laxman Singh : 5 years down the line looks promising to the Lapits Technologies and the future of blockchain in India particularly. Blockchain can add upto $40bn to the Indian economy. Lapits with adding new services (smart contract security audits, DeFi development, etc) and launch of some exciting products (bitbatua - Cryptocurrency Payment Gateway, fundraiser - launchpad for fund raising, etc) on our roadmap for 5 years, projecting a business of 100cr. As per PwC report, blockchain technology will impact major sectors such as supply chain management, securitisation and payments, and identity protection applications, in the descending order of their impact.
Great Companies: If you had one piece of advice to someone just starting out, what would it be?
Laxman Singh : Want to build/do something? Don’t wait for the time to do it rather do it today because time never waits for you. Time is real money though the paper money can be generated but time can not so spend it wisely.
Website : https://lapits.com/