This Crypto Enthusiast Is Creating His Own Lane
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The new age of discoveries and inventions will consume just the last 30 seconds until midnight if the whole time that humans occupy the planet could distill into a single day. The blockchain, the effective alternative to cashless societies and cryptocurrencies, is one such product of the ever-powerful technical movement of modern times. In the same vein, with his company, Franc Trade, Prasanna K, based in the quaint Indian town of Coimbatore, embarked on the journey of entrepreneurship.
The online entrepreneur
Born in 1985 in Coimbatore, India, Prasanna K graduated in 2008 from the reputed Annamalai University with a BBA degree. He continued on to obtain a diploma in programming software, hardware, and networking after having developed a strong interest in computer applications. Around the same time, he also got the much-coveted validation for his talents from a 'Microsoft Accredite Professional' or MCP.
Leveraging Blockchain's Power: Why Francs Exchange?
The more you use, the more you have, as they say of creativity. Come 2015 and the fresh and exciting market change, Prasanna K found himself turning towards Bitcoin. Prasanna K was able to monitor the complexities and lack of knowledge of the technology in no time, mixing thorough research and development of crypto trading, blockchain, and their implementations with the responsiveness of an able team.
Prasanna K involved himself in raising information about the various opportunities blockchain technology holds for them at a time. When corporations and organizations were doubtful about how to exploit this newfound prospect. Prasanna K is currently performing the mammoth challenge of bringing his technical innovations, fuelled by blockchain solutions, to the marketplace of digital assets. It with the vision of serving the middle community, industry practitioners, and the evolving society as a whole.
Managed by Franc IT Solutions itself, Franc Exchange, promoted by Prasanna K, is a security-centric, multi-currency backed trading network. The primary objective of the platform in its projects is to build and streamline trusted and productive digital asset markets. Via a smartphone application on the Android platform and through a web-based portal, Franc Exchange already caters to its wide customer base. An insightful video was also released for the latter. In 2021, Franc IT Solutions is also preparing to apply for the US Federal License to make its offerings on a global scale to the emerging genre of infotech.
In addition to complying with the appropriate Indian regulations and KYC processes, Franc Exchange complies with ERC20. The platform supports an assortment of leading fiat currencies from around the world. Including the US dollar and the Euro, as mentioned earlier.
The high-frequency trading network is Segwit-enabled, with US-based hash consultants offering their whole transaction chain with blockchain agnostic system solutions. The latter is a major multinational tech firm that provides blockchain, AI, Big Data, and IoT technologies. Together with HashCash, which helps businesses to transfer real-time funds across borders for remittances, trade financing, payment processing, and more. Franc Exchange aims to move its offerings to a larger global base in the foreseeable future.
Cryptocurrency in India-A gray area
For a long time, Indian politicians have resisted the notion of making cryptocurrencies part of their ecosystem. While no blanket ban has been imposed on virtual currency yet, the 2019 draught of the Prohibition of Cryptocurrencies and Enforcement of Official Digital Currency Bill. It has indicated that a 10-year jail term would be imposed on those caught trading with virtual currencies.
Briefly in April 2018, the Reserve Bank of India (RBI) refused to allow all banks and other central bank-regulated agencies to conduct any virtual currency transactions.
Many Indian cryptocurrency-related enterprises have migrated to crypto-friendly countries over the past few months. Among others, Hong Kong, Switzerland, Japan, and Singapore are some of the countries that have embraced and controlled virtual currencies. They are open to market opportunities connected to cryptocurrencies.
The Entrepreneur's words
Prasanna K trusts in the immense impact that a single idea can have. His career graph was scarcely anything more than an upward trajectory, while his path was one of ups and downs. This is not due to chance or wealth by Prasanna K. But to the relentless hunger, he had for learning and development. Not to avoid a desire but to turn it into a company.