Headquartered in the sunny isles of Saint Kitts and Nevis, Chain is an upand-coming name in the blockchain sector. Although the Web3 industry still rests in its infancy, it is crucial to stay ahead of the curve by utilizing a company that will offer long-term solutions, once blockchain technology becomes widespread.
Chain was established in 2014, to carry out its mission of using blockchain technology to create a more interconnected and transparent global financial system. After the re-acquisition of Chain in 2020, CEO Deepak Thapliyal, and his team of handpicked directors, are proudly continuing the company’s mission of establishing a more sustainable global financial system through blockchain software solutions and cloud technology. With a fresh new board of directors, management team, and stakeholders under Thapliyal’s leadership, Chain is expecting more growth and opportunities to innovate and expand its software services.
To fully understand the working context of Chain, one needs to have a comprehensive background of the blockchain industry and how it operates.
There are four primary types of blockchains:
• A “Public” blockchain is open to all users and lacks a central authority.
• Then there are blockchains with permissions, such as “Private” and “Consortium,” managed by a particular organization or group.
• Finally, there are “Hybrid” blockchains. They aim to harness the most outstanding qualities of both public and private blockchain technologies and integrate aspects of both public and private blockchains.
There is a fundamental idea that underpins
Deepak Thapliyal thinks that achievement is meaningless unless it is combined with giving back to the community that has supported him throughout his career. So he started “Chain Gives” to make it easier for families and communities worldwide to get funding quickly.
A digital trust foundation provided by the blockchain makes it extremely difficult to alter information once the transaction has been validated. Once transactional data has been inputted, it is virtually impossible to tamper with, as all involved participants of the blockchain network can verify and trace each transaction. This enables the blockchain to be a trustless payment system, that omits the need for a third-party intermediary.
The blockchain is a safe and transparent way for individuals to conduct direct business with one another. ‘Blocks’ of transactional data are connected on a ‘chain’ using cryptography. Similar to how email is made possible by the internet, blockchain technology makes it possible for cryptocurrencies (digital currencies protected by cryptographic encryption) like Bitcoin, to operate. Blockchain technology has a wide range of use applications, including supply chains, economics, art, and even entertainment.
The blockchain has a more robust line of defense against cybercriminals because it is a decentralized network. To alter a blockchain, a hacker must access more than 50% of the devices in the same distributed ledger, which is highly implausible. In addition, changing the cryptographic hashes on the blockchain or each new block would be nearly impossible, without changing the previous blocks on the chain, which makes this system immutable and impervious to hacking.
Blockchain can also prevent “double-spending” attempts in payments and money transfers. These attacks are a major source of concern for cryptocurrency users. In a ‘double spending’ attack, a user will spend their cryptocurrency more than once. It’s a problem that doesn’t exist with cash. If you spend $10 on a meal, you no longer have $10 available to spend. However, with cryptocurrency, there is a possibility that a user will spend the cryptocurrency several times before the network notices. Blockchain technology helps prevent this. Within the blockchain of a specific cryptocurrency, the whole network must reach consensus (agreement) on the transaction sequence, confirm the latest transaction, and broadcast it publicly.
Unlike other industries, blockchain technology has its fair share of unique challenges as an emerging technology. For example, because the industry is dynamic and constantly fluctuating, it is critical for Chain to stick to its long-term goals in the face of short-term volatility. Throughout its history, the company survived multiple “Crypto Winters” by keeping its operations customer-focused and responding quickly to market swings.
Regardless of how the general public interprets blockchain and cryptocurrencies, Chain continues to offer its services and keep its community up to date on the latest industry advancements in order to stay ahead. Deepak Thapliyal, the CEO of Chain, has been focused on acquiring new technology to broaden Chain’s product and service offerings. After a recent acquisition of MDT (Measurable Data Token), Chain is bringing its consumers more value and offering a broad range of services to its roster. Thapliyal, who has a deep background in both technology and finance, handpicks the best talent for running his team of blockchain developers to build and maintain Chain’s full suite of products.
Deepak Thapliyal forges strategic alliances both inside and outside of the NFT and crypto communities. Thapliyal, the owner of one of the rarest CryptoPunks, recently collaborated with Tiffany & Co. Executive Vice President, Alexandre Arnault to develop NFTiff. It was a one-of-a-kind program that was only accessible to CryptoPunks owners. The project enabled CryptoPunks holders to transform their NFT into a pendant inspired by their CryptoPunks digital artwork. In addition, Thapliyal maintains strong connections with several brands in the financial, retail, and entertainment industries to help bridge the gap between the traditional business model and the Web3 economy.
The well-known Web3 entrepreneur is also committed to using the power of blockchain technology to serve communities across the world through Chain Gives, his philanthropic foundation. Due to the decentralized nature of cryptocurrencies and the blockchain, Chain Gives makes it simple to send aid directly to communities in need.
Chain is particularly focused on creating innovative software by using the blockchain’s ground-breaking technology to create a more resilient and peer-to-peer economic system.
Chain’s clients are able to utilize blockchain cloud infrastructure and encrypted ledgers that support their decentralized applications and projects. Chain implements a SaaS model for its products that addresses the complexities of overall blockchain management. For example, ChainNFTs, is an NFT-as-a-Service which offers NFT consulting from start to finish, for brands seeking to make an entrance into the Web3 industry.
In the short term, the company has several pinnacles it plans to reach:
• Help top brands in the retail and entertainment sectors enter the blockchain realm successfully, while exceeding their business expectations through Chain’s full range of services.
• Continue building strategic relationships with companies from various industries and assisting them in achieving their Web3 objectives.
• To broaden the market reach of more retail and entertainment businesses this year while integrating them into the blockchain ecosystem.
A business’s success is nonexistent if the CEO doesn’t pay heed to his responsibilities. At the helm, Deepak Thapliyal is in charge of all internal and external business operations. He oversees the business’s organizational structure and works closely with executive leadership to plan and steer Chain’s objectives. Thapliyal ensures that Chain is guided on the correct route by upholding its mission and being flexible in response to the growing business.
To Deepak Thapliyal, success is defined by Chain’s capacity to bring value to its clients and support them throughout their Web3 journey. He wants to maintain client satisfaction by streamlining Chain’s services as much as possible. Thapliyal is currently adopting new technologies to suit the needs of his clients better. Thapliyal works to broaden Chain’s activities and gain exposure across various industries in order to expand his company’s reach.
Chain can guarantee the most significant level of services for its customers. thanks to a solid human resources team that actively recruits highly qualified individuals in all areas, from blockchain development to marketing. Chain continues to innovate products and services, while executing fresh and creative ways to maximize its shareholders’ profits. Deepak Thapliyal leverages his platform and notoriety in the Web3 arena by establishing a number of strategic alliances with entities across various industries.
Finally, Deepak Thapliyal believes that success is meaningless unless it is accompanied by a contribution to the Web3 community. He raffles NFTs, gives away Bitcoin at events, and gives back to the community that has supported him throughout his career. In the upcoming years, Chain plans to continue providing industryleading software solutions for blockchain developers, brands and small business owners.