Dr . Naveen Singh , Founder and Chief Executive Officer at Inery , speaks to us about the company , his leadership philosophy , the blockchain market and the importance of businesses adopting a decentralised database management solution .

I am the Founder and Chief Executive Officer at Inery , a Layer-1 blockchain . Inery is one of the first decentralised databases . Every application needs a database , most of which are centralised ; however , these are not secure . This is why we thought of creating a fully decentralised database and putting it on the top of the fundamental layer for Layer-1 blockchain – to enhance that security .

Why do businesses need a decentralised database management solution ?

Centralised databases are prone to hacks . If the data is on the centralised database and it gets hacked , the hacker can actually copy the data and actually delete it all . This is a huge loss for any consumer-based corporation because if the data is gone , you ’ re gone .

Decentralised databases , however , come with a wall , protecting the data , thus making it difficult to access and ultimately hack . And even if you compromise one node , you cannot manipulate the data because there ’ s layers of encryption and a distributed ledger system , equally sharing the data around all the nodes . So it ’ s almost impossible to manipulate that data , which is vital for businesses .

What would you describe as your most memorable achievement ?

For me , it ’ s difficult to say just one . First , I was an athlete for over 20 years and then I shifted into entrepreneurship , building and leading companies in different sectors , such as healthcare , IT and real estate . These companies were great successes , and it ’ s fantastic to know I played a part in that . Now , with the formation of Inery , I feel like I have lots to be proud of and many memorable achievements .

What style of management philosophy do you employ in your current position ?

My management philosophy is quite simple and straightforward . First , you have to take care of your team as you would yourself . Think of your team as one big family . Secondly , be very transparent , fair and direct with them . Thirdly , prepare them to take criticism in a healthy and positive way while also embodying the spirit of teamwork , after all the company ’ s interest comes before individual ’ s .

Why is there a gap in the market for blockchain solutions ?

Blockchain technologies are still in a very nascent stage . We are still in very early days of the decentralisation and the adaptability of blockchain . However , we ’ re only going to see this grow and you ’ ll see a lot of adaptation by huge enterprises , tech companies and social media platforms in the coming years .

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