Visakhapatnam: It sounds a bit like a Google and Facebook student project. Still to graduate from their college, the unique idea of these four engineering students from Guntur has drawn investors who are ready to pump in Rs 50 lakh.
However, the students have declined the funding offer, being keen on their own start-up venture and confident of its high business potential.
The prototype idea, powered by blockchain technology, simply prevents duplication of mobile applications on Android. The AP government also awarded Rs 2 lakh to the students for winning the ‘hackathon challenge’.
Interestingly, the four B. Tech students — T. Krishna Vamsi, Jasmitha Movva, Pranay Kolli and Manasa Pinaka from KKR & KSR Institute of Technology & Sciences (KITS, Guntur) — did not slog for years to get the idea, but stumbled upon it when they attended a 4-week summer programme (‘Fintech Valley Student Challenge’ conducted by APITA in association with IdeaLabs in Vizag this year).
AP Chief Minister N. Chandrababu Naidu hailed the students for their innovative idea, saying that traditional operating systems are being questioned by college students in the IT world.
“After attending the blockchain technology workshop, we had to propose an idea for the Fintech Challenge. I download a lot of games and apps, but I have also noticed that most of the companies are the victims of piracy. So we thought we should take up this idea to check piracy. Our college helped us to work on the idea and make it successful,” said Vamsi.
“In the era of extensive piracy in the mobile market, many applications were developed but all were too complex to be implemented by the programmers or were easily cracked. So, our product is the first blockchain technology integrated application that will secure Application Program Interface (API). The combination of security and transparency of the blockchain helps the API to be both robust and simple at the same time can be incorporated into any kind of android application. Once it is authorised, the administrator or the developer can keep track of the illegal downloads.”
“Our idea has great business potential and could earn in billions. So, we want to float our own venture. We are spending time on the project after our college hours. We have entered into collaboration with an MNC to incorporate it into various standalone applications for commercial purposes,” he concluded.
