New Delhi (India), October 10: Technology and finance is an ever-evolving landscape, and two dynamic individuals, Vijay Saran and Utkarshini Arora, have emerged as trailblazers with a shared vision for revolutionizing the way we handle money. While their journeys to success were distinct, it was their collaboration that birthed the Peso App, a groundbreaking Web 3 application that combines fintech and blockchain to simplify financial transactions and empower users with unprecedented control over their money.
Vijay Saran’s entrepreneurial journey began at the tender age of 14 when he ventured into the world of ethical hacking with the creation of “N DROID CITY.” Leveraging his skills, he not only attracted substantial website traffic but also generated revenue. His entrepreneurial spirit continued to flourish, leading him to establish a tech-enabled merchandise startup during his time at VIT Vellore. At the remarkable age of 22, Vijay secured funding of INR 2.5 million, valuing his venture at a staggering 60 million. His accomplishments earned him a coveted spot on Entrepreneur Today’s “30 Under 30.” Notably, in 2023, Vijay also completed a Postgraduate program in Blockchain from IIT Kanpur, further enhancing his credentials.
On the other side of the spectrum, Utkarshini Arora carved her path as a senior software developer and educator. Her impressive resume boasts collaborations with top unicorn startups in India, including Physicswallah, White Hat Jr (by Byjus), and Relevel (by Unacademy). Utkarshini’s commitment to education extended beyond the workplace, as she became a content creator with over 1 million views across various social platforms. Her mentorship touched the lives of over 12,000 students, guiding them through job placements and software development. Her educational journey led her to complete her Post Graduation in Blockchain from IIIT Bangalore.
They met in the vibrant tech hub of Bangalore and embarked on a journey to provide tech and marketing consultancy services to startups. However, their aspirations faced a significant roadblock when they encountered limitations in receiving payments due to the daily transaction limits imposed by UPI.
As tech-savvy individuals, the duo attempted to integrate various payment gateways but stringent RBI regulations prevented most payment giants from onboarding new startups. This experience shed light on the formidable challenges that startups in India face when trying to establish and manage their businesses. The lack of control over their own funds, even after successfully receiving payments, was a glaring issue.
Vijay and Utkarshini identified this gap in the financial system as a pressing problem that could be addressed by blockchain technology. Drawing upon their expertise as blockchain developers, they embarked on a mission to develop an app that would simplify financial transactions by utilizing blockchain infrastructure. They aptly named it “Peso,” signifying “money.”
The Peso App stands on three pillars:
- Real-time Updates: Users can stay informed 24/7 about the latest developments in technology, blockchain, financial markets, and AI.
- Blockchain-Enabled Payments: As simple to use as UPI, Peso’s blockchain infrastructure ensures secure and efficient transactions, providing users with greater control.
- Smart Taxation and AI Tools: Peso offers a suite of tools to relieve users of financial worries, particularly during tax season, making it easier to file returns.
Peso App launched with its first pillar successfully integrated and immediately made waves in the digital world. It trended at the top of the charts under the 50 category, demonstrating the app’s widespread appeal and potential.
Currently, the development team is hard at work integrating the second pillar, which involves the Bitcoin Lightning Network Infrastructure. This addition will enable lightning-fast and cost-effective global payments, marking India’s first Layer 2 solution for blockchain payments. Entrepreneurs, business owners, and freelancers will have the opportunity to conduct business worldwide without restrictions, with full control over their finances.
In a world where financial transactions are increasingly digital, Vijay Saran and Utkarshini Arora’s Peso App represents a beacon of hope and innovation. As Peso continues to grow and evolve, it promises to be a game-changer in the fintech and blockchain industry, setting new standards for financial empowerment and control.
The Peso app is currently available on:
Apple IOS: https://apps.apple.com/in/app/peso/id6449457716
Google Play Store: https://play.google.com/store/apps/details?id=com.pesoit
