Entrepreneur Aakash Yadav's view on the potential of blockchain

10 February,2022 03:47 PM IST |  Mumbai  |  BrandMedia

Crypto trading has reached new heights within the span of a few years. This is the result of the convenient and incredible security that its underlying blockchain offers.

Aakash Yadav

Many people associate blockchain with cryptocurrency since it provides a secure and decentralized record of transactions. And while this is correct people tend to overlook the fact that blockchain is nothing but an advanced database. With this view in mind, blockchain can be smartly used in a number of systems to store data. Unfortunately, cryptocurrency trading or the introduction of new coins are all the hype these days, overshadowing the existence and capability of blockchain tech.

Aakash Yadav, an entrepreneur and co-founder of a Startup Incubators Pvt Ltd fund startup studio insists that there is an immense amount of untapped potential in blockchain tech. Especially when it comes to integrating blockchain in daily life. He states, "There is a huge misconception in the minds of many that the Blockchain tech is limited to cryptocurrencies only. Imagine if the Indian government adopts the blockchain tech to store land records then establishing land titling would be a click away, and we could easily migrate from the existing cumbersome system of possessory land titling. Every sale deed could be recorded as a blockchain transaction against the concerned plot number, and that would be it. This leaves no room for a corrupt bureaucracy to manipulate landowners* data, and proof of titling could be made available digitally. No more storing of physical copies of land records in dilapidated government buildings for ages. This has the potential to revolutionize the ease of doing business.". Considering this, it might be safe to say that implementing blockchain tech in areas wherever possible will lead to a huge decrease in the load given on labor and thus the citizens of our country would be able to productively use their time and resources on more fruitful labor.

His primary goal is to exploit modern blockchain technology and present it in a tangible way for people across the globe to use. Aakash has proven his point with the creation of OneTo11. The world*s first play to earn a gaming ecosystem based on blockchain and smart contracts. He has successfully implemented blockchain tech and crypto in this project of his by building this digital game on blockchain networks which would have an underlying framework of a distributed ledger. The earnings of the user in OneTo11 would be unique for them and their ownership could be verified by blockchain, therefore the user can trade the same conveniently. OneTo11, through its features, opens up the possibility of other gaming companies to venture into the creation of a whole new gaming metaverse, where virtual cities having tradable traits could be included. The OneTo11 Gaming System comes with an integrated wallet and token system which can be used to play multiple games and applications that this game offers. The gamers can create NFTs to own and trade for value with the help of the marketplace and tokens of the OneTo11 ecosystem since all the games provided in OneToll are capable of NFT creation. There are various sorts of games that OneTo11 offers, including metaverse, minigames, learning-based games, casual mobile games and sports fantasy games that allow gamers to form their own teams and compete globally with each other for contest prizes. Aakash has effectively optimized the BSC network in order to enable OneTo11 to launch a gaming token for trading on the app which would result in it replacing fiat currency. This token can then be used to freely trade in the open market, thus the gamers can earn money while they play.

Apart from gaming, Aakash observes that blockchain-based innovation can also be used in the rural and farm finance sector, an idea on which he shall elaborate later.

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