Our Co-Founder & COO, Sukhi Jutla, was recently on Finder experts’ panel for cryptocurrency predictions.
The report explores the price of Bitcoin, its evolution and its potential value in the coming months.
It was widely shared in over 30 publications, including Fintech Zoom, Economic Times, Finance Monthly, Blockchain News, Tech Telegraph, Crypto Trends…
Check out the report now!
Category: Press Coverage
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in LGT article ‘How to know when you have a winning business idea’.
The journalist wrote:
But talking to prospective customers can also be a double-edged sword, as Sukhi Jutla, founder of Market Orders, knows firsthand. When she started her business, an online marketplace like Amazon or Alibaba for the gold and diamond industry, she was told that she should approach people in the industry. So she did. She spoke with very successful people in the gold and diamond industry, but their reception was not at all what she hoped.
“They couldn’t see what I wanted to do. My business was disrupting their business, and they didn’t want to know anything about it,” she said.
If she had followed their opinion, she wouldn’t have continued, but Jutla had confidence in her vision and persisted. The gold and diamond industry has been relatively untouched by digitization. Small independent jewelers, which make up 90% of the market, still need to go in person to trade shows to buy gold and diamonds and often pay in cash. Jutla wanted to connect suppliers with independent jewelers through an online marketplace and use blockchain to provide transparency.
In her case, Jutla said being “an outsider” was an advantage because she was able to look at the industry with a fresh perspective. “I was working in banking in the tech area so I was able to see something different,” she said. Those who are entrenched in the industry get used to existing problems and think it’s normal.
“They couldn’t see what I wanted to do. My business was disrupting their business, and they didn’t want to know anything about it,” she said.
If she had followed their opinion, she wouldn’t have continued, but Jutla had confidence in her vision and persisted. The gold and diamond industry has been relatively untouched by digitization. Small independent jewelers, which make up 90% of the market, still need to go in person to trade shows to buy gold and diamonds and often pay in cash. Jutla wanted to connect suppliers with independent jewelers through an online marketplace and use blockchain to provide transparency.
In her case, Jutla said being “an outsider” was an advantage because she was able to look at the industry with a fresh perspective. “I was working in banking in the tech area so I was able to see something different,” she said. Those who are entrenched in the industry get used to existing problems and think it’s normal.
Market Orders is Jutla’s third iteration of her vision for an online marketplace. She’s now noticed a mind shift with younger jewelers who have taken over the family business and want to be able to buy supplies online. Because she didn’t give up or listen to naysayers, she’s now in a position to catch the wave of digitization she believes is hitting the market now. “It was trial and tribulations and pushing back barriers until I hit the sweet spot,” she said.
Listening to negative feedback can be valuable, but founders need to be able to sort through the feedback, keeping in mind who is giving feedback and why.
Read the full article here.
Listening to negative feedback can be valuable, but founders need to be able to sort through the feedback, keeping in mind who is giving feedback and why.
Read the full article here.
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in CEO Blog Nation article ’20 Entrepreneurs Explain The Disruptions Happening In Their Industries’.
She said: “The jewellery industry tends to mimic what happens in the apparel industry and the key trends we see are: Internalisation – today, the jewellery industry is still primarily local but we are seeing consumers who want to shop global brands and not just those located in their area. They want more choices and options to choose from. Hybrid consumption – though most high-value items tend to be sold in-store, it is clear to see that consumers use online tools to research the product they want so they are well informed when they walk into the store to purchase the item. Consumers are engaging in online research and reviews on social media prior to an in-store purchase. Both these trends are causing huge disruptions to the way retail jewellers build their businesses and serve their customer base.”
Read the full article here.
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in Mighty Call article ‘Time to Save (or Fuel) Your Business With Crowdfunding! Simple Guide’.
She said: “The official launch of your campaign should just be 20% of the work, the remaining 80% of the work really needs to be done … prior to the launch and this includes building your potential investor base and making progress on your product so you can show investors what you are building.”
“Don’t make assumptions about whether people have money to invest! I learnt quickly that there were many people who were willing to invest large amounts but I hadn’t been telling them I was raising so I assumed they were not likely to invest.”
“Anyone you know, ask them if you can add them to your email list. This includes ex-colleagues, family and friends […] When I was telling my local barista about my upcoming launch, though they did not invest, the lady behind me waiting for her coffee eavesdropped into my conversation and later asked me for more details about my crowdfunding launch and went on to invest a small amount!”
“Help other people succeed in their crowdfunding launch by sharing and supporting their campaigns,” says Sukhi Jutla. “Social karma is important and it’s likely that when you need help spreading the word about your campaign you will have an army of people ready to help because you helped them too.”
Read the full article here.
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in AMB Crypto article ‘Binance’s acquisition of CoinMarketCap: More reality check than poppycock?’.
She said: “Binance is a trading platform and they could influence or tinker with trade data on CMC platforms. This would raise issues of trust and whether or not Binance may artificially or overly promote coins that are listed on Binance.”
She added: “This [sale] could be a good way for CZ to expand and lend his personal brand to his new acquisition which could drive even more traffic to both sites and set them both up as the dominant leaders in a market where it can be difficult to ascertain who can be trusted and who is a scam.”
You can read the full article here.
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in Finance Magnates article ‘Fintech Experts Share Tips for Remote Work During Coronavirus Quarantine’.
The journalist, Rachel McIntosh, wrote:
Indeed, Sukhi Jutla, chief operating officer of blockchain-based gold jewelry platform MarketOrders, told Finance Magnates that “most companies working in this space [are] already accustomed to working with digital technologies and working in the ‘new way’, which means less time at a physical location and desk.”
“Instead, they’re taking full advantage of working ‘digitally’, which means making use of digital technologies that allow business to be conducted using video conferencing, email, online chat and online tools and software to run your projects and tasks.”
Additionally, Sukhi Jutla said that at MarketOrders, “we are holding regular team check-in calls to make sure everyone is well.”
“We use WhatsApp to send daily updates to check in on staff–not just on the tasks to be done, but checking in to make sure they are well emotionally and mentally as this shows you care and will help the team to feel safer, secure and in turn able to perform better at their jobs.”
There has also been a trend in holding online social events for employees. For example, “others are hosting ‘virtual drinks’ on a Friday evening,” or “holding company-wide quiz[zes] at the end of the week to bring everyone together.”
Other companies are holding watch parties: “[companies] can also designate an afternoon off where [employees] watch something together online Netflix” and chat about what they are watching at the same time on WhatsApp or Skype.
“Companies could do the same with a virtual book club–pick a book, and every Friday afternoon, everyone can take some time off to read together and then discuss the main points the following Monday morning,” Jutla added. “Other companies are even paying for the Netflix subscriptions for their staff.”
“There is no doubt that the world we’ll return to will have fundamentally shifted,” Sukhi Jutla commented. “This also means the jobs that we have will have changed, and the businesses that fail or survive will also reflect the changing landscape.”
Indeed, “those who can adapt to digital online processes will have a stronger chance of survival and it is these companies who would have successfully adapted to remote working.”
There, Jutla believes that “we will see remote working becoming a much more normal and accepted way of working, especially since social distancing may be required for a much longer period of time even when the immediate threat of the virus is no longer there. We will see more businesses prioritizing online presence and sales channels in an effort to future proof themselves and their businesses.”
You can read the full article here.
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in Fintech Global article ‘How the UK is still appealing to investors despite Brexit’.
She said: “There have been several investigations that revealed N26 had had several run-ins with the Financial Conduct Authority (FCA), low user engagement, and several high profile resignations that led to its exit. Citing this, I don’t think there will be a mass exodus of fintech post Brexit, instead, we will see homegrown fintech’s double down on serving domestic markets.”
You can read the full article here.
Our COO & Co-Founder, Sukhi Jutla, was recently interviewed by Techopedia on women in technology. The article “Women in Tech Entrepreneurs: Resilient, Intuitive, and Paying it Forward”, tells the story of women navigating their careers in the technology field.
The journalist, Terri Williams, wrote:
Use Failure is a Stepping Stone
Sukhi Jutla is the co-founder and COO at MarketOrders, an award-winning blockchain-based platform for the gold and diamond jewelry industry. MarketOrders, which was founded in 2016, connects retailers and suppliers, allowing them to source products without a middleman.
“We saw a gap in the market for a more efficient way of supplying gold and diamond jewelry on a global basis, and MarketOrders was created to be that solution so we can efficiently match the supply and demand for gold jewelry products in a historically traditional and opaque environment,” Jutla explained.
“Using blockchain technology, our platform makes processes and the supply chain more transparent.”
This isn’t Jutla’s first jewelry-related business. In fact, she says it’s her third attempt. “The first two didn’t work out, but I learned so much along the way that has enabled me to reach this point that I am at now.”
Without having those failed experiences, she says she wouldn’t have learned what she needed to know about the industry to create the right business model. (Read The Future of Women in Tech.)
“MarketOrders was the first online version of the business: it was the phoenix that arose from the ashes of the other businesses, which were more along the model of the traditional wholesalers,” Jutla said.
“MarketOrders is digitized, streamlined and the key for us is that we can buy in bulk and get discount savings — and everyone benefits.”
As a tech entrepreneur, she advises being cognizant of what you’re building and ensuring that it’s what your customers want. “Feedback and iteration are a vital part of building a tech business.”
She points to overcoming the unknown as a main challenge, but says it’s an inherent part of running a business. “The best tools I have found to overcome this is to stay determined to overcome any challenges, to persist to find a solution.”
Regarding women in tech, Jutla, who has also authored three books, says it’s important to showcase the different roles available in the industry.
You can read the full article here.
Our Co-Founder & COO, Sukhi Jutla, was recently quoted in the Global Crypto Press Association article ‘US Gov Opens Cashflow Floodgates – How Will Crypto Market React When MILLIONS Of Millennial’s Get Payouts?’.
The journalist wrote:
IBM Blockchain developer and #1 best selling author Sukhi Jutla believes people will be putting a lot of thought into their spending, telling me “I think it’s becoming increasingly clear that the coronavirus pandemic is pulling us into uncharted territory and truly unprecedented times. I think they will be inclined to spend the money on essentials” that doesn’t mean we won’t be seeing the effects in the market, she added “I expect to see the crypto markets react in a volatile manner to the continued uncertainty in the markers and it is where ironically the most profits are made (in volatile markets) so we will see investors buying up a lot of cheap assets and also offloading them.”
You can read the full article here.
Our Co-Founder & COO, Sukhi Jutla, will be speaking at the TECH Conference Europe 2020, which will be virtual due to the many travel restrictions.
The Virtual Conference will take place on the 9th of June and everyone is invited to join and hear how Mobility, EdTech, Artificial Intelligence, Blockchain, Fashiontech, and Fintech companies are embracing the current events and helping globally.
In order to secure your virtual seat, make sure to register here (no travel needed, you can attend from the comfort of your home or office).
You can find more information here.