Senseque Senseque : Delivering Cost-Effective And Secure Blockchain Solutions
The Blockchain market is expected to reach USD 23.3 billion by 2023 and this technology continues to disrupt the status quo across countless industries. The Blockchain technology is not just an innovative technology, but it has become a vision that organizations aspire to transform into reality. According to the 2019 Global Blockchain survey conducted by Deloitte, 53 per cent of organizations recognize Blockchain as one of their top five strategic initiatives while further 27 per cent consider it influential. Demand for Blockchain technology is increasing worldwide and this technology has the ability to change all the aspects of the digital economy, health care, enhancing education and learning etc. Today, blockchain solutions providers are developing secure and efficient Blockchain solutions for payments, supply chain management and provenance, identity management, property rights and post-trade settlement. One such player that excels in providing Blockchain solutions is Ahmedabad based SenseQue. SenseQue not only provides secure, traceable, and efficient solutions it also provides cost-effective Blockchain solutions. The benefits of services leveraged by customers using SenseQue’s services is Ontime delivery services, no hidden or extra cost in estimation of client’s requests. What differentiates the company from the rest of the players is that it develops powerful solutions by leveraging the combination of IoT, AI and Blockchain technologies.
“Our vision is to consistently deliver ingenious, comprehensive, efficient, cost-effective technology driven business solutions to our clients,” says Abhishek Gautam, Chief Executive Officer of SenseQue.
SenseQue combines strategy, technology and data science to address some of the most complex business challenges. With its amazing DNA of innovation, SenseQue combines its strong business acumen and technology to build futuristic world-class products and solutions. “Since innovation is core that drives every project and helps customers achieve business growth, we encourage innovation thereby allowing them to partner with clients to transform their businesses and achieve strategic objectives,” says Sunil Kapadia, Chief Innovation Officer & Technical Lead of GBA Ahmedabad Chapter (Government Blockchain Association).
ASSET TRACKING SYSTEM
The manufacturing industry is moving swiftly towards an epoch of vigorous change. But unfortunately, this industry landscape is currently exposed to numerous challenges such as counterfeiting, lack of transparency, in efficient recall management etc. that has pushed businesses to fine-tune their supply chain strategies and operations. These challenges can be solved by using a robust technology and it will also help the manufacturing industry to stay ahead of the curve. This is where Blockchain technology comes into the picture.
Perfectly understanding the aforementioned challenges, SenseQue has developed Asset Tracking System leveraging Blockchain Technology. This solution helps in obtaining transparency throughout the supply chain connection with Blockchain right from inspecting the goods produced till delivering the same to end consumer.
Duplicate products frequently get into the supply chain and as a result, they often fail or require maintenance. This causes damage to the manufacturers and suppliers as well. While the conventional tracking system has helped OEMs to deal with this fraudulence to a certain extent, yet counterfeit parts have always managed to make their ways into the supply chain.
Senseque Assets Tracking System using Blockchain technology solves this issue, by allowing users to track the origin of the product to identify if it is a fake product. It lets the OEMs to have the luxury of communicating directly with the end user which helps them in their business in terms of avoiding fake products and building trust among the end consumers’ community. This system that resides above the current ERP systems, followed by the business entities involved, increases the trust among the business entities by improving the security and transparency.
The Other Services and Solutions offered by SenseQue include solutions for payment processing and money transfers, supply chain monitoring, crowd sale, data sharing, Hyperledger development and Smart Contract development.
SIX STEPS APPROACH FOR DEVELOPING BLOCKCHAIN SOLUTIONS
SenseQue deals with complex cross functional organizational workflow due to integration of various participants and different intra-organizational work-flow management systems. Therefore, the company has designed and follows a six steps approach in developing Blockchain solutions. Before developing any Blockchain solution, it is highly imperative to define a problem statement. The first step begins with Problem identification and motivation.
Once the problem has been identified, the team brainstorms ideas and business requirements and sets the objectives of the solution in such a way that it helps in reducing manual efforts, process time and avoids paper-based process steps. After this the company publishes the result to the clients and starts with the design and development phase, where the team develops blockchain based prototype that facilitates cross organizational workflow and outsources activities to smart contracts.
The fifth step includes criteria-based evaluation of prototype, comparison of non-Blockchain solution and Blockchain prototype and knowledge derivation from technical evaluation of prototype. Lastly, the company conducts repeated end-to-end execution of key processes to demonstrate prototype functionality.
INNOVATION LABS
SenseQue’s Innovation Labs bring together the latest technologies to help its clients experience the potential of new technologies and its application to various domains. The company’s innovators work extensively on the new technologies and bring the best out of it. The research and innovation team provide well tested accelerators to pace up the deployments of new technology solutions which save humongous efforts and resources.
AUTOMATED PLATFORM FOR MICRO LENDING
SenseQue has currently developed a Micro lending platform using Blockchain that helps the users to lend or borrow money without any lower limit from each other. This platform automates the process of obtaining a loan and repaying it and money transfer is handled through an UPI API. This platform has designed features that allow a borrower to borrow from multiple lenders and a lender to lend to multiple borrowers. Moreover, lenders are also categorized in such a way that certain requests from borrowers are filtered based on certain standards and conditions. If a borrower is unable to pay the decided EMI, the lender can either decide to sell the loan through an auction or update the EMI with mutual understanding with the borrower. Reputation management for Lenders and Borrowers and market determination on Interest Rate will be calculated using a Machine Learning algorithm, after having enough data. This system also has features that facilitate both Lenders and Borrowers to rate each other.
THE ROAD AHEAD
SenseQue is in the process of designing its own product for the logistics industry. “We are in the final stage of releasing our first product within next few weeks. This product deals with AI especially NLP and a skill based on Alexa. This product can be used across many domains and will help the clients to solve one of the biggest issues in any company. We are definitely going to expand soon as we are now growing at a rapid pace,” concludes Abhishek.
TALENTED POOL OF RESOURCES IN NEWER TECHNOLOGIES
SenseQue has a perfectly balanced team of fresher with aspirations and expectations and are extremely confident of their abilities and experienced professionals who not only fulfill their professional obligations but also keep the young motivated by providing them regular coaching and mentoring and make them feel like a part of the team.
SIX STEPS APPROACH FOR DEVELOPING BLOCKCHAIN SOLUTIONS
SenseQue deals with complex cross functional organizational workflow due to integration of various participants and different intra-organizational work-flow management systems. Therefore, the company has designed and follows a six steps approach in developing Blockchain solutions. Before developing any Blockchain solution, it is highly imperative to define a problem statement. The first step begins with Problem identification and motivation.
Once the problem has been identified, the team brainstorms ideas and business requirements and sets the objectives of the solution in such a way that it helps in reducing manual efforts, process time and avoids paper-based process steps. After this the company publishes the result to the clients and starts with the design and development phase, where the team develops blockchain based prototype that facilitates cross organizational workflow and outsources activities to smart contracts.
The fifth step includes criteria-based evaluation of prototype, comparison of non-Blockchain solution and Blockchain prototype and knowledge derivation from technical evaluation of prototype. Lastly, the company conducts repeated end-to-end execution of key processes to demonstrate prototype functionality.
We Are In The Final Stage Of Releasing Our First Product Within Next Few Weeks. This Product Deals With Ai Especially Nlp And A Skill Based On Alexa.
INNOVATION LABS
SenseQue’s Innovation Labs bring together the latest technologies to help its clients experience the potential of new technologies and its application to various domains. The company’s innovators work extensively on the new technologies and bring the best out of it. The research and innovation team provide well tested accelerators to pace up the deployments of new technology solutions which save humongous efforts and resources.
AUTOMATED PLATFORM FOR MICRO LENDING
SenseQue has currently developed a Micro lending platform using Blockchain that helps the users to lend or borrow money without any lower limit from each other. This platform automates the process of obtaining a loan and repaying it and money transfer is handled through an UPI API. This platform has designed features that allow a borrower to borrow from multiple lenders and a lender to lend to multiple borrowers. Moreover, lenders are also categorized in such a way that certain requests from borrowers are filtered based on certain standards and conditions. If a borrower is unable to pay the decided EMI, the lender can either decide to sell the loan through an auction or update the EMI with mutual understanding with the borrower. Reputation management for Lenders and Borrowers and market determination on Interest Rate will be calculated using a Machine Learning algorithm, after having enough data. This system also has features that facilitate both Lenders and Borrowers to rate each other.
THE ROAD AHEAD
SenseQue is in the process of designing its own product for the logistics industry. “We are in the final stage of releasing our first product within next few weeks. This product deals with AI especially NLP and a skill based on Alexa. This product can be used across many domains and will help the clients to solve one of the biggest issues in any company. We are definitely going to expand soon as we are now growing at a rapid pace,” concludes Abhishek.
TALENTED POOL OF RESOURCES IN NEWER TECHNOLOGIES
SenseQue has a perfectly balanced team of fresher with aspirations and expectations and are extremely confident of their abilities and experienced professionals who not only fulfill their professional obligations but also keep the young motivated by providing them regular coaching and mentoring and make them feel like a part of the team.
