Infinity is a secure identity verification platform built with blockchain technology. We aim to create OneWorldTM Identity, where a single digital identity of an individual or organization can be used to access an array of services.
Location: Dallas, Texas
Product / Service Offering: Secure identity verification platform built with blockchain technology
Co-founder Interviewed: Arya Sharma
Other Key Team Members: Ujjwal Mishra, Vivek Shah
This article is part of our Business Startup Spotlight series featuring entrepreneurs and their companies. We hope that these founders’ interviews will inspire and motivate you as you undertake your own entrepreneurial journey.
Tell us a little about yourself with a focus on what motivates you.
My parents are my role models for work, relationships, humility, respect and compassion for others. I have always been motivated to help people through technology. My first startup, Firstblood, was focused on that.
I eventually learned about blockchain technology and the various problems it promises to solve across all industries (finance, healthcare, supply chain, media, etc.). With Infinity, we hope to create a more transparent, trustable, and secure identity verification platform. Infinity is leveraging one of the most important innovations since the steam engine and the Internet, blockchain technology.
When did you establish your company and where did the idea originate?
The idea for Infinity struck me while we were brainstorming about how blockchain technology can be used to increase trust between two parties and conduct smooth business flow. After several iterations with various blockchains, smart contracts, Ethereum, and Hyperledger, we decided to go with identity management as a use of blockchain technology.
Infinity is still a young startup. The team and vision were established in early 2017. We have partnered with some fast growing startups, but we are still looking for additional partnerships with established organizations. We are also actively seeking investments and mentorship.
What need or needs does your company seek to fill for its customers?
We believe personal identity is intimate, which is why Infinity puts you, the user, in control of who you share your identity. With Infinity, we aim to create an OneWorldTM Identity. This is a single digital identity of an individual or organization can be used to access an array of services. Infinity is a secure identity verification platform built with blockchain technology. Infinity allows you to share your identity with trusted Infinity Partners.
What is the one thing that sets your company apart from its competitors?
Everyone today is talking about blockchain and how it will be helpful in business. Many organizations are conducting ongoing research across numerous industry verticals using this technology. Infinity focuses on building a secure, real-time, error-free digital identity management ecosystem. This infrastructure will help individuals and organizations identify themselves more securely in this vulnerable digital world.
One thing that sets us apart is our rapid adoption of new blockchain development technology. Since it is relatively new, many people are experimenting and utilizing various use cases around it to create something truly extraordinary. We have a dedicated team that has planned a modular, dynamic architecture for the Infinity ecosystem. All of the product-related information will be available in our white paper, which will be coming out soon.
What was the biggest challenge you faced while getting your company up and running, and how did you overcome it?
Blockchain is a new industry; therefore, we must keep ourselves up to date with the latest trends and tools required to create and maintain the DLT, Distributed Ledger Technology. To do so, we’ve created a dedicated team of young people with prior industry and entrepreneurial experience. Infinity’s team is passionate and willing to put their energy into solving everyday problems with this promising technology.
What resources have you utilized that other founders might find compelling or useful?
Blockchain as a technology has been around since 2009, since the advent of bitcoin. People such as Vitalik Buterin, the founder of Ethereum, eventually found greater use of this technology with smart contracts. Today, we talk about blockchain in business. Large companies, such as IBM and Toyota, are experimenting with blockchain technology and creating useful, innovative products across industries.
One thing I have always found useful is to connect with like-minded people. I also let go of people whose wavelengths do not match my own. This saves a lot of time and mental energy. Go to meetups, conferences, seminars and classes on what you are looking to achieve and create a plan.
- Envision your next steps.
- Execute them by delegating responsibility to the team.
What steps have you taken to secure funding for your company and what, if anything, would you do differently if you had to start over?
We are at an early stage where we are actively looking for investors and mentors. The initial investments have been from friends and family. I am positive that we will soon secure an investor who believes in our team and the vision for Infinity going forward.
What questions have you had as an entrepreneur of a fledgling startup that you had a particularly hard time finding the answers to?
From my previous experience, I can say that the most important question that comes to my mind is how can I turn my idea into a product and truly make that first sale. Only then you realize that it takes a lot of effort and systematic planning.
- Team building
- Hours of research
- First Proof of Concept
- Marketing your product
- Delivering it to the market
- Analyzing its impact on customers
- Improving the product to make the idea a reality
What challenges, if any, are you grappling with?
As blockchain technology for business is the talk of the day, we face the challenge of being first to market. We need to develop, test, and deliver the product to the market while being the best at it. We face an important challenge regarding the legalities of the concept. With various governing authorities still addressing and creating laws surrounding this technology, it is a now or never situation for us. We need to prove that our solution works and that it is beneficial across multiple business domains.
What is the most helpful tip or “hack” you’ve ever learned, stumbled across, or been given?
I think starting a company is not that difficult, if you have the passion and perseverance to succeed. Above all, the idea/business needs to solve an inherent problem for the customer. My dad says “it should solve a pain that even the customer does not realize, until you make them.”
Are you familiar with other startups you believe should be spotlighted? If so, we would like to hear from you. Tell us about them, sharing in your comments below!