Rajesh Pavithran talks about the challenges of creating a new online service

Rajesh Pavithran, founder of BoonTech talks about the challenges of creating and delivering a new online service.

Rajesh Pavithran
Rajesh Pavithran, founder of BoonTech. Photo: Supplied

What makes BoonTech stand out in the freelance market?

Freelancing is a promising industry for employers as well as freelancers looking to expand their earning opportunities. The presence of so many freelancing platforms makes it tough for newer platforms to get a foothold.

Success requires something unique – a gap not filled – to attract freelancers as well as employers. In today’s speedy, high-tech world there is no shortage of opportunities for those who devote themselves to the product they hope to deliver.

BoonTech is a prime example of how a business can introduce a new service with some unique features that people have been waiting on for years. Let’s have a look at how BoonTech manages to stand out in this marketplace.

In order to learn more about the promise of the freelance platform, we spoke with BoonTech’s founder; Rajesh Pavithran, and asked our top 5 questions.

Rajesh has almost 20 years experience in delivering advanced technical and business solutions for large, highly profitable corporations. Rajesh uses his technical and financial expertise to add value to all of the businesses he has worked with.

What inspired you to start Boontech? Did you see a gap in the market for this kind of service?

The truth of the matter is that it all started after seeing so many freelancers and employers getting disappointed with subscription fees in addition to deduction of a certain percentage from all payments as a project commission. And the commissions are charged from both sides, the employer as well as the freelancer.

The thought of letting the employers and freelancer get rid of these charges became the major inspiration to launch BoonTech. It has been extremely challenging but had never been impossible.

Not only that BoonTech is free of service charges, it also rewards the users of the platform. These cryptocurrency rewards help us stand out in the industry.

Obviously, everybody uses freelancing platforms to earn something or save something rather than losing much more than anticipated. We observed that other freelancing platforms have not focused on this aspect.

And this is the gap which BoonTech fills by offering some exceptional features, thanks to the combination of decentralized blockchain technology and conventional freelance practices.

Cryptocurrency has become somewhat of a phenomenon lately, how and why have you made it a part of your business model?

Currency conversion has been a major consideration for freelancers and employers. You never know exactly what’s coming to your account after converting the US$ into the local currency of the freelancer’s region. After paying for subscriptions and project commissions, the uncertain currency conversion calculations are the last thing you want to avoid. But unfortunately, there’s no way to avoid these losses.

Thanks to cryptocurrency, the problem has been resolved. But cryptocurrency has other challenges and the most threatening is its sudden and significant value fluctuation.

We’ve invested enormous time and effort to address the issue and did it successfully through Hedging Boon$ with the US$. The hedging technology is patented and we hope that the patent rights will be approved in the near future as of late, no other company in the world has introduced currency hedging and none has applied for patents.

Were there any challenges with developing or introducing the algorithm that matches freelancers with suitable jobs?

Not one, not two, but countless challenges. Building such a huge platform in itself is a challenge. Introducing the decentralized blockchain to freelancing industry in itself was quite challenging. Ensuring the stability of any currency is not in our hand but we did our best by choosing the most stable, US$ as a standard with Boon$.

Developing an algorithm to match the most suitable category for the right freelancer is a tough ask but thanks to our expert developers and software engineers we managed to come out with the best solutions.

Generating the algorithm to suit the freelancer’s expertise has been a challenge. The reason is, the increasing variety of freelancing tasks makes it hard to identify a certain job with a certain category.

For instance, content development is both related to creative writing, advertising, marketing, product promotion, social media campaign, and even web and app development. So it becomes harder to identify a certain job post in terms of the degree to which it addresses certain skills. Giving the employers freedom to select the required skill-set solves the issue to a greater extent.

What challenges did you predict when you had the idea for this service and how did you plan for them?

Greater risk, greater reward! Flirting with such a huge adventure doesn’t guarantee success unless you’re prepared to take the risk and accept the outcome. The huge investment itself is a big challenge.

As far as prediction is concerned, we had only one thing in mind that devotion will lead us to a point where we’ll manage to offer promising features to serve the users of the platform. We knew that we’re going to offer something which no one had expected but always wanted. The only plan was – and still is – to focus on facilitating users.

In a broad sense, what is your future strategy for growing the community of employers and freelancers on your platform?

We’d love to introduce more features to ensure greater convenience for the users of our platform. We did it initially by introducing Free of Service Charges as well as rewards system. Our future plans are mainly focused on the nonstop provision of ease, convenience, and quality to all of our users, whether they be freelancers or employers.