A Startup That Began in the Middle of the Pandemic Wants to Change the Future of Blockchain - VRRB Labs Inc

Miami, FL - (NewMediaWire) - November 21, 2022 - The Covid pandemic of 2020 led to much of the world going into lockdown and resulted in many businesses closing.

But Sanjay Bandare did the unexpected: he decided to co-found a startup in the midst of a pandemic followed by a severe economic crisis faced by his country Sri Lanka.

The blockchain startup, VRRB, had just two people, him and his co-founder Andrew Smith at the start of 2021. Fast forward to 2022, Sanjay and Andrew have been joined by their third co-founder Shiva Kintali, and their startup now employees 8 highly skilled web3 professionals.

"A lot of people actually told us that it's a very bold move to create a new blockchain in the current market, while most business were either laying off employees or closing down entirely [during the pandemic]," he added.

But that was a "well-calculated" move for VRRB.

"VRRB's aim is to create an ecosystem, bridging the crypto world with real world applications and economics, beyond online."

Sanjay Bandare, Co-Founder and COO of VRRB Labs Inc

Looking far ahead turned out to be the right move for the 31-year-old and his co-founder Andrew. Through the pandemic, in the year 2021, Sanjay and Andrew spent their free time collaborating together online, working from two different ends of the world and building a fresh, new, faster and more secure consensus algorithm for a new layer 1 blockchain.

Since 2022, VRRB has raised an undisclosed amount, and drawn an impressive list of venture capital investors and partners.

The idea for VRRB came from Andrew Smith, whom Sanjay met through an online discussion forum for global entrepreneurs.

Sanjay instantly recognized the value in Andrew's proposition and began discussing how VRRB could potentially push the world of blockchain and web3 forwards. Their discussions grew into daily meetings, which often took place in the middle of the night to account for the time difference between the United States and Sri Lanka, which were on opposite corners of the world.

Sanjay would complete his day job, and get on meetings with Andrew, who was a seasoned entrepreneur having already launched a previous data company. They discussed potential ideas and started working together on building a POC for VRRB that could be shown to potential investors.

Both blockchain enthusiasts realized that the consensus algorithm that was being proposed by VRRB did not exist in the current blockchain landscape.

"There was lot of potential with what was being proposed for the Proof Of Concept, and both of us knew it," said Sanjay

"There wasn't a blockchain that had it all they were either sacrificing security for speed or sacrificing speed for security. VRRB was on the path to solving both these issues"

Sanjay and Andrew managed to tirelessly work through the nights and their free times to bring the VRRB POC to fruition. But like many POCs it had its issues and required the collective effort of an entire development team to get it to the standard they expected.

In 2022, they began their search for the third co-founder of VRRB, who would ultimately be Shiva Kintali, a PhD holder specializing in game theory and cryptography and who now acts as the CTO of VRRB Labs Inc.

With the development of the POC, VRRB, led by CEO Andrew Smith, reached out to potential venture capital firms for investment and managed to raise an undisclosed amount in capital to develop and further the VRRB blockchain. VRRB now employs 8 highly skilled web3 blockchain professionals globally.

VRRB started off as a layer one blockchain, but the co-founders have bigger dreams. VRRB aims to go beyond the blockchain and online cryptocurrency world. VRRB's aim is to create an ecosystem, bridging the crypto world with real world applications and economics, beyond online. VRRB also wants to become a platform for developers to easily be able to develop in other languages instead of having to learn an entirely new language to code in, which currently is stifling the development of web3 applications.

The "coding journey" for web3 developers has to go beyond learning a new language just to code on one blockchain platform, said Sanjay.

Sanjay was born and raised in Sri Lanka, a tiny island nation off the southern coast of India, which after the pandemic of 2020 faced a massive economic crisis.

The vision of VRRB is to port the legacy economy and financial system onto a blockchain. There are many use cases for a blockchain that have yet to be tapped. Unfortunately, most Blockchains are not suited to handle these use cases because they are either too slow, too centralized, or have a native token that is poorly designed as a monetary unit. VRRB aims to break the blockchain trilemma, refusing to compromise speed, decentralization or security.

Media Contact:

VRRB Labs Inc

Sanjay Bandare

sbandare@vrrb.io

United States