GEC NEWS WIREI met Yashvant Keshwala, the founder and CEO of Clan5 at the recently held Future Blockchain Summit at the Dubai World Trade Center. The young CEO’s attributes and a forward-looking thoughts and vision strikingly matched the young technology— Blockchain— and the potential that it stores for the future business models.
Those who have been to the exhibition would definitely recall the busy stands and massive footfall. Blockchain newbies and legacy vendors who had newbie blockchain solutions were having a gala time getting the attention of the visitors for this much hyped technology. The name ‘Clan5’ quite attracted me and I took myself to the booth and spent a brief ten minutes. I am penning the rest in the article.
My first question to Yashvant was the origin of the name of the company— What is Clan and what is 5?
“We studied a large number of blockchain platforms and realised that we were not the only ones facing difficulties, everyone else was facing similar problem because there were vital parts that were missing hence resulting in a gap in the mass adoption of blockchain technology through decentralised applications and autonomous systems. After 1.5+ years of rigorous digging and testing, we devised an entirely new approach to address the common problem thus, Clan 5 was born. Clan5 provides you the best of the both the worlds— the private ledger and public ledger— with our Hybrid ledger. Our ecosystem features a one-of-its-kind hierachial ledger and consensus mechanism Proof of Audit that allows users to have a incomparable blend of private and public ledger. This creates a decentralized structure that resembles a family or clan. 5 represents the 5 universal applications, SWAID, AI, IoT, Chief Deployer and Projects. According to Yashvant, Clan 5 ecosystem empowers users with advanced blockchain software and hardware tools to control and store their own data securely.
Since blockchain is expected to disrupt the financial sector the most, Clan5 is prepping up to reach to some uncharted territories with its SmartWallet & ID (SWAID) solution. According to Yashvant, although we are breathing and living in a digital world, still the percentage of unbanked people forms a very striking number. With SmartWallet Clan 5 aims to bank the unbanked using blockchain and offer them the humane privilege of accessing financial services – anytime, anywhere on any device.
“We see a great appetite for our solutions and services in the market. We have a strong base in India and the Middle East will definitely be a go-to-market for us in the upcoming quarters. We would be interested in striking meaningful conversations with Supply chain partners and businesses that require artificial intelligence and IoT integration as that is our forte.”
Clan5 is also looking for partners to engage with on the hardware side. “We are looking for hardware manufacturers to partner with. Our solutions can be embedded into their devices and given as a complete product to the market. We currently do not have a base in the Middle East market, but we have initiated some good conversations during the Future Blockchain Summit.”
By : Anushree Dixit
