Shashank Udupa on Problems Faced by Startups and his Solution
In a world where three new startups come up every second around the world, the competition is tough. The fact that nine out of ten startups end up failing shows just how competitive the world of startups is.
Apart from the competition, there is a lot that ends up generating problems for startups.
Shashank Udupa, the COO, and co-founder of Avalon Labs and Enkidu shared his experience by saying:
“In today’s date, it is very expensive for the small, struggling startups to actually structure a company, build a new company, and to try and expand the company to different locations—the main reason being that the legal fees are very high, especially when you’re doing cross-border joint ventures.”
With a team of experts, Shashank is building Enkidu, a Blockchain based solution that allows teams to create businesses instantly and run them at near zero costs, via a set of automatic smart contracts. The CoinFrenzy team has already reviewed their ICO and was pretty impressed by the idea and the team.
Talking about Enkidu, Shashank says:
“Enkidu comes into a place where we want to build a complete company on the blockchain which has everything related to payments, shareholding, a table (of directors), an ESOP structure, a dividend policy, different kinds of share classes, and obviously investments that come through different investors and private equity investors as well.”
When asked about his views on the current market conditions, he said:
“If you look at it, I think we just had a huge drop in the prices of Bitcoin (BTC) and Ethereum (ETH). I think that the reason (behind it) is if you look at a year ago, Ethereum rose from like 8 (US) dollars to 400 (US) dollars, and that is a significant rise, right? The same was with Bitcoin because it rose from 1000 to 8000 and almost touched 20,000 (USD). So what happened here was that there was a change in the mindset of governments. Earlier on, the adoption was not that great with Bitcoin and Ethereum but now, since the price grew from 100 percent to 150 percent, all the governments started realizing across that the world that this is something that we need to pay attention to.”
He then gave various examples to make his point clear about the involvement of governments in the crypto sphere and also the potential that the blockchain technology holds. Here’s the complete podcast:
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