Making Cryptocurrency The Next Big Thing – Journey Of Nitin Goyal

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We live in a fast evolving virtual world where many applications and tools are developed in order to make lives less complicated. Our day to day activities have become easier right from shopping to booking appointments to traveling and the list is just endless. However, there are always unexplored paths in IT that can be developed and applied in real life.

Its a great pleasure to connect with Mr. Nitin Goyal, who is heading into the virtual space with his start-up TRETCoin, with a goal to optimise the Blockchain technology. A man of many hats, he is also a visiting professor at the XIM Bhubaneswar, founder of the group ‘Meetup on Blockchain technology' which has now more that 650 active members in Bangalore and has also helped in building successful start-ups for his friends. Presenting here verbatim a brief account on his life, ideals and most importantly his journey on starting TRETCoin.

I come from a conservative business family, born and raised in Agra - the city of The Taj Mahal. While schooling, my siblings and I were very clear that we had to work hard and do well in our respective education. I had never planned on what I should pursue after school or which career path I wanted to choose when I grow up. However, with the determination to do well in my studies, I landed up in IIT Roorkee and completed my B.Tech in 1996 with flying colours. After that, I went on to do my MBA from the Xavier Institute of Management, Bhubaneswar and stood being the topper of my batch in 2006.

I have always worked in the IT sector right from the inception of my career, at the beginning with TCS in 1996, then with Oracle India and later with British Telecom until recently. My last couple of roles in British Telecom were to work as Platform Director for the Revenue Assurance practice and also set up the Big Data Center of Expertise. I am always abreast with the latest technology and apart from performing my managerial responsibilities at British Telecom, I have been equally passionate about coding, architecture and design.

I was closely following the industry trends specially in the field of big data. This in my opinion is the necessity of survival because it’s a very fast evolving space.My advice to many young IT enthusiasts/ entrepreneurs would be to inculcate the habit of keeping an eye on the current trends in your area of interest as this will help you in the long run.

I started looking at technologies like Augmented and Virtual Reality, Machine Learning and Blockchain and immediately realized the huge potential and disruptive forces being unleashed by them. I was following Bitcoin closely since late 2015 when it was more of a fad. I think that we have not even touched the surface with Blockchain technology yet and there is a big force at play that can be as disruptive as the internet was in early 90's. I quickly understood that this is the next big thing that can change the business scene in a major way.

Hailing from a family of entrepreneurs, I always had that bug inside me to start something on my own. While I enjoyed my corporate job, I was more keen on developing my own venture in Blockchain. So, I quit my job at British Telecom in April 2018 and have been relentlessly working on building up my start-up TRETCoin which is due to be launched by July 2018.

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The disruptive potential of Blockchain technology is not limited to payments and fin-tech, but there are multiple possibilities in the retail and loyalty space which we are planning to tap with the launch of TRETcoin which is a cryptocurrency that is (T)radeable, (R)edeemable, (E)arnable, (T)ransferrable.

It’s in our human nature to love freebies and gifts. In many ways we are rewarded with loyalty points and rewards when we associate with a certain bank or other merchandise, too often these rewards are ignored by most of the customers as we all find it cumbersome to run though the process in collecting the gifts assured, but after a period of time the rewards expire.

To the customer, this loss may be none or negligible (because it’s mostly ignored), but given a choice to redeem the rewards in terms of cryptocurrency, I am sure everyone would be happy to try. That’s the aim of TRETCoin - to target that gap and provide the customers the rewards they might have neglected and ensure they are benefited in long term. The fundamental responsibility I see here is when the customers are convinced, it’s our duty to keep them satisfied. When customers find that reliability in us, they will fearlessly make use of TRETCoin. That is my motto, to always do the right thing and ensure the customer is happy.

Right now, since TRETCoin is in a very early stage, it’s too soon to predict the future. However, one lesson I have learnt is that one must not look at an outcome when you start-up but enjoy the process, the uncertainties and the challenges. The outcome is not in your hands, but if you like what you do and are flexible to align to market shifts and trends, then the outcome will more or less fall in place. It is essential to identify the right moment and take the leap, sort your finances and be open minded. It is also imperative to be rational when you decide to do a start-up and not be emotional and also learn when to stop.

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For any venture persistence is the key to remain in the business because the road you tread upon is not always rosy but a mix of sweet successes and few bitter failures. Whenever I have been involved in the building of a start-up my goal has been, how can anyone be impacted with our solution. How can we improve the quality of life. At the end of the day all that matters is, how could we simplify our regular activities with ease and how many lives have I touched.

Contact Nitin Goyal @9740811600 nigoyal@gmail.com

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