From late-night food delivery startup to hybrid apps with Applore, CEO Vaibhav Singh gives us the 5 essentials on customer experience and cloud mining.
Who are your hybrid apps aimed at?
Mostly at startups, small and medium companies. We started out by building out in the blockchain field since we’re affiliated with the cryptocurrency domain, then we started you with some smart contracts, building on Ethereum blockchain. Then I started getting requests for these hybrid apps and mobile apps.
Basically, our focus is on blockchain and these hybrid mobile apps. One of our clients is building out an event management platform: an Airbnb for events. So you can just see the events on your map and you can host an event and people can just request us to join that event.
What’s the most formative customer experience you’ve had?
The most important thing is we have to be honest on deadlines and commitments, as most of the people are. If we are not able to deliver it on the timelines that they commit to on day one, we try to keep the delay at the minimum and we try to plan things beforehand. So timeliness is very important..
In terms of software, when do you build and what do you buy?
If I had my own product and I am a believer in my product then I would build it from scratch because I would want everything to be customized. If you have to launch an MVP and you have lesser amount of time on your hand, then you can take some readymade off-the-shelf product just to get some initial customers. Once you have the initial traction, then you can build out a full-fledged custom solution.
This is the model that many companies are taking these days because they don’t want to waste time. This hybrid app concept comes into the picture. So even giants like Airbnb and Shopify are using a hybrid platform. So they want to deploy new features and changes as soon as possible on both the platforms. And this is the test of the new features. Once they’re sure about it, then they build out a custom feature.
How important is 5G in your strategy with putting out these apps?
Even in emerging markets like India, 5G would definitely be a game changer. There is a lot of latency with the data intensive, especially as it matters to the logistics industry. So that would be a game changer for e-commerce and logistics.
2020 is a year that we are hoping that it will come. I think the infrastructure is in the place, but they are still like testing out the technology. One of the most important features would be video apps. Live streaming would be perfect. So my focus would be on the video conferencing side of it as well as streaming for news channels and media houses.
You mentioned that you were also involved in cloud mining. Tell us a little bit about that.
With cloud mining, you don’t buy the hardware. We import the hardware, we set up the mining, the farm, and we build out the software for the algorithm, which it will run on and the optimization on it.
Then we try to keep it as such that it doesn’t require a lot of manual intervention. You can just close down this facility and you don’t have to visit it. Maybe once a month you have to go there but you can see everything online. So all the machines that are running you just see at one place as well as how much revenue you’re making.
Where electricity costs are low, then that would be the place for you. Because in India there are union territories where the electricity bills are the lowest where you can mine at low costs.
The market was booming in 2017 through to 2019 and it’s again on the uptrend right now. With us we could get our entire money back in eight months and then make some money on top of that. So it was kind of a best deal. It was better than keeping the money in your bank as the interest isn’t as high in banks.
So it made sense for us to do it and, right now, people are like jumping into it. The only hurdle is regulatory uncertainty in India. It’s a gray area where it’s neither legal nor illegal.