Blockchain - The New Language Of Trust
Hi everyone, this is Sridhar here. Nice to have all of you here. Let's wait for a couple of minutes for others to join. Before we could start.
I have biale and jugurtha wanting to speak.
show their hands purely you can unmute yourself.
Hi, I'm Les. This is a live session. You can ask me questions while we present and take it forward
Guess I'm going to do a Steve Nice to have you on Pirelli
and we have 30 odd people already are we expecting a few more? We will just start in a minute or so.
I am good. Nice to have you around
Arvind Kumar is there good
evening arrange a
lot of names in a very interesting yakata Chakravarthy I will come. I compilation Muncie
oral diversity but okay.
Rashid shake is here.
God haven't too because I just want to wait for a minute before
I'm not looking away from you, I'm just looking at the charts. So angle is a little odd.
Good, maybe I'll start with a short intro about myself and talentsprint and take it forward to go into the webinar which is on the new language of trust, which is blockchain. My name is Shree dirt. I am a finance tech and education professional 30 years plus of experience.
Basically a science graduate cost accountant company Secretary financial player, financial planner. I started my career with the banking industry then moved on to nbf seas and financial services companies. and subsequent to that, I was going to head for a group called the coffee group for around 15 years and last 10 years. I am here in talentsprint as one of the CO
source of the company.
Pretty interesting journey over the last 10 years at talentsprint as talentsprint we focus on providing deep tech programs. And these deep tech programs are in the areas of AI machine learning, blockchain data science, FinTech, cybersecurity, digital process automation, robotic process automation, and things like that. And we do this programs. In partnership with top academic institutions. We do programs, for example, the blockchain program is the triple it Hydra bot, which is it has the largest Computer Science Research Group in the country and the highest
one of the two places which has a blockchain Center of Excellence in the technical education field. Then we do programs with I am Calcutta and FinTech as our marketing, we do program with the Indian Institute of Science, which is a number one university in the country, on digital health and many other programs coming in. We work with blue, Google us
on creating top class women, talent coders, for deep tech industry, we work with pega systems, right automation anywhere blue prism. So that's what we do as a company. And the objective of today's presentation. Today's webinar is largely interaction. I would like to take questions and try to answer as much as I can. But a little bit of short presentation before we can get into q&a. The background of the topic of the day session is blockchain the new language of trust.
Before I could get in further details with that, I would like to ask you a question. Can you just share through chat? What do you think is average cost of trust in the world economy, how much of the money that is created by the economy is towards managing trust? Now, when I say this, you can think of risk management that's being put in place, legal system that's put in place
Right, and central authorities getting created for disbursement of things. Like for example, you have the clearing corporations and stuff like that. All those are institutions which are created to take care of trust in the system. Right? trust between two parties is based on an agreement. So like that, do you know approximately what kind of money is spent on trust? Okay, I have Kumar saying it's 30%. I'm waiting for others to answer. Let's just take a guess. I mean, I'm
$5 billion, maybe. Okay, that's another question. Another existing 50%
hundred trillion, okay. $10 billion. There are pretty wide numbers. So let's look at percentage because physical numbers will be very different.
Well, I think 50% seems to be on the highest side, I think 25 to 30% of commercial transactions. The cost of doing
It is going towards trust. Right? that trust is the I mean to take care of trust.
Now, is that a way to automate it? This is one of the big challenges. So let's look at what is trust like how does Indian currency issued right? RBI is there it issues the currency and they have raided guidelines through which they are supposed to have enough reserves before gold reserves before they issue it right after that. There are ways I mean, if you really look at a rupee note, it says it's a promise to pay when you pay 1000 bucks, it is not thousand rupees getting paid. It's a promise to pay 1000 rupees which is getting to the next person. So,
the cost of taking care of this is extremely high. I
one of the ways that it can be reduced is through technology as you really know most things where the cost is high our disk
erupted using new technologies, right? That's what blockchain is trying to do. blockchain is looking at automating the process of trust, that trust is created either by a central authority or a statute. This is what the two things we are very, very clearly aware of. Right. We are aware of statutory legal ways of doing things which creates trust, like for example, to be a bank, you have to be approved by the Reserve Bank of India
To be continued to be approved Reserve Bank of India you have to follow some strict guidelines. Right, based on that the trust gets created. So, people put money in the back put will put money in a particular like for example, the mutual fund sab does their which,
which is regulating this body regulatory body in this category. And it says this is how virtual fun should operate and that creates trust.
So that's the legal side of it.
Is that a technology solution to it? That is what we are talking about. And Kumar says very interesting, very clearly, when we talk about blockchain there are people going into BFS a domain. It's not restricted to bfsi. But just look at it. I don't know if you have read this quote by
Jamie Dimon who is the chairman of JPMorgan Chase, it says,
banks or technology companies in disguise, because other technology What do they offer? Right. So that's, that's how it is. And it's one of the top users of technology in the world. So bfsi cups, and I am I am a skewed example because I spent 20 out of 30 years of my life and bfsi so to that extent, dfsa examples automatically comes through.
So I'm not going to share a presentation. I will take the presentation for
Around 20 minutes and after that, take it up for q&a.
Or you're able to see my screen. I would like to
a presentation that says blockchain the new language of trust. Great. Okay, I've got some
acknowledgement. So introduction I talked about myself. Right.
And about talentsprint. And I, of course, did understand a little bit about few of you.
Now, the next point is
while the objective of blockchain is automate trust, is it really coming to the mainstream? Right? That's something we need to look at. The other point is the program that we offer and take the next steps what we have
this is the hype cycle. Gartner's hype cycle, I'm sure some of you would have talked about it. See now seeing this graph, right blockchain
Is there from London. It's been there for long but 2008
to 17 it was more of a trigger 2017 it reached the peak where everybody said anything in the world, blockchain is a solution. Right? And 2017 to 19 blockchain went through a very difficult face.
And that's what is generally called a trough of disillusionment, right? People are there was a evolution that everything in the world can be sorted by a particular technology and after that people lose interest and then say this is useless. But after that the slope of enlightenment happens. I'm though, technology grows extensively over the next decade or so. And after that it flat use in terms of productivity. Just take an example of internet, right 2000 when internet came into being, they said for everything internet is a solution.
Right after that
problem happened in the early 2000s. Right? So that time, then everything fell extensively for the next year or two year 2000 to 2002. But after that people realized there are a lot of people who are working extensively in this technology created valuable things Googles and the Amazons and the others came into being and the slope of enlightenment happened. And now I think, even if you're a Khurana shop, you have that presence, right? That's how things evolve. Every technology goes through it, every invention goes through this process. And in this case, blockchain is probably gone through the trough of disillusionment and starting to climb the slope of enlightenment. Right, we talked about various years and where we got at this point of time
on some deep key developments between
March and August has been very, very interesting right? crypto currencies globally had enough negative feedback from the courts as well as from the regulators. But slowly different countries have started taking
action and understanding the value of the underlying technology rather than just looking at banning wholesome right while certain currencies may be
may be banned, the technology is being adopted. For example, a typical Indian Ahava have a blockchain to perfect silence and creating enabling environment for blockchain development in the state. And many, many states across the country are doing many countries are focusing on it. So while in the beginning, there were a lot of a lot of questions about is this legal illegal? I think it's very clearly getting distinctively remote between the technology is good
Certain implementation use cases may or may not be good for the society and we don't want to use it. Right. That's how the world is. The the clarity is coming, and that's coming out clear. And World Economic Forum in April talked about blockchain development toolkit to ensure that startups and the countries can take it up. Right. And
the pboc the People's Bank of China, in April announced the pilot of central bank digital currency. So, think of it currently currencies or notes or bank accounts, right. If it's a crypto asset, what happens? Right, there are a lot of interesting stuff happening there. Beijing and Hong Kong are part of the pilot. China has taken lead on this and started piloting it. So these things are extremely positive for the technology enthusiasts who wants to develop their career in this area.
I have few people raising their hands. Let me charge
Okay, I have Java two chakravarthi wanting to ask you can unmute you so jugurtha and ask your question
unmute yourself and speak please.
you can unmute yourself and speak.
Please go ahead. I am audible. Yes, yes you are audible oddish
I am working in a power sector very good and
is having a very big value chain
if you start from the corner My name yes
For you and me, yes we are we are the sufferer of the power sector because generation after generation cost is very less. Yes. In in between the people who are using the different type of networking,
different type of authority
they are making a huge amount of
when I'm looking blockchain and p2p technology, yes. All energy for Yes. Do you be in position to give me some examples happened in a lot.
Okay. So, while I mean specific use cases on that, I can probably put you on to the faculty who takes the classes to help you but broadly, I have worked with a few
wind energy and solar energy companies which creates p2p
green power purchase
agreements. Right? So it's it's a very, very complex area highly regulated at this point of time. Right? And the central agencies, both I'm sure they are enabler and also a bottleneck for many of the activities broadly. So, if you really look at it, the areas that I have seen companies focusing on and screen trying to find a solution for the energy sector, one is the logistics side of it right from the coal mines to the power plant to generation, that side and the second is power trading side of it.
Right as you know, power is traded in certain markets, right. And power trading is one of the big international transactions that are happening in the market. So I know that there are companies which are focusing on these two
use cases, the logistic side on the generation and sourcing and generation
sight and creating a market or creating value positioning and pricing for the for the generated power, indie
international power markets, these two either other than that if there are anything which is happening specifically in the Indian context or any energy generation companies context, I can probably get some of my faculty to specifically talk to you.
Oh, there are some questions coming on now can develop banking system using blockchain? So let's really understand, right? What is blockchain before I go to answering such questions? All right.
Let's Let's okay. I mean, probably I'll just take a few minutes and then come to this.
See, I think single entry accounting system was there for a long right last 500 years we moved to WC accounting system people
People who are in finance people who are in have done some accounting or something will understand this single energy single entry accounting is. Whenever money comes in, money goes out, I enter, which is what our house accounts that we take do, right.
But double entry happened saying that for every that's why the trial balance and other stuff came in. Were both in credit and debit entries are available. And it has to balance always. Right? No. blockchain comes with the triple entry accounting system.
Right where double entry happens and it's available in multiple servers. Right? So
that's the real history of trusts. And
there are various places where double entry is not enough.
Right, let us look at it. I buy let's let's look at stock markets. There's something in the middle which I know operations pretty reasonably well. So let me talk about
If I talk about stock exchanges, stock markets, what happens? Somebody wants to sell somebody wants to buy. When you look at the double entry for the broker, it is money versus stocks. Right? If I look at the exchange, it is brokers. net amount versus the stock right. Now, let's assume that and only Stock Exchange and the clearing Corporation holds the central data who wants to watch?
However, oh, sorry, I think somebody says I have to be louder. Let me come closer to the mic, however, is that record is available with everybody, right? There are let's say 10 hundred brokers. All the brokers know who has how much talk, which broker sells how much which broker buys, how much instead of only the stock market knowing it takes will become
different. And incidentally, let's think about it. Stock markets and it started for hundreds and hundreds of years back. Used to be an association
People came and traded on mutual trust the stock exchange's regulatory bodies and all that comes subsequently.
Okay. So it is the
process that came in saying that, okay, there is a central authority which gives you the trust, which makes the stock markets across the globe work effectively. That's extremely useful. However, it is also useful if that level of trust can be managed without a central authority. That is what blockchain enables.
Right? So that's the path of trust. If I say, Okay, let's let's look at it. We you play a game along with your friends, you set up the rules, and everybody follows if somebody doesn't follow the majority will say whether they're right or wrong, and you'll continue playing the game.
Right now, expand it to the bar.
sight expanded to the economic side.
If that can happen, that everybody is see in between, if you had looked at how the industry has evolved, there are a lot of self regulatory organizations that get formed. Right? I don't want a central regulator regulators, we come together as industry participants, we will regulate ourselves. The one step ahead of that is automating trust, using blockchain as one of the tools technology tools to enable it.
Right. So if you really want to look at when it's
important to know that we are today, right, it's important to know that we have come from right. We have come from an economy barter system, which was no central, no central so called regulator but the economy existed.
Right? It went into regulation and extreme regulation.
It is possible for certain things if not everything, I'm sure regulation is useful. It has to continue to self regulatory work using a power of technology and that's what blockchain
is just like and somebody said Is it only for banking? No. However,
banking use cases are two x the next biggest which is government and public goods 30% sector the usage of blockchain in various sectors, banking and finance contribute 30% 13% is government and public goods. For example, voting system voting process can be automated, because trust is a big issue there. The every government every
polling takes huge money, right. There is a
possibility of using and there are some countries which use blockchain for their elections. Insurance Of course can be added to the
banking. So that means it makes 42. Right? healthcare is 8% 6% is generate jet technology services. So this is this is pretty wide range of things, right? It can be ecommerce, it can be logistics for those things, things like that. And somebody asked me about power sector energy and utilities are currently 3% manufacturing is 3% and 7% to service. So if you really look at it, it's a wide range. Right?
usage, if you really look at it, India's IT industry, I think 60 to 70% is dependent on banking, financial services and insurance, so it doesn't affect the same thing. So it's other sector of healthcare. There are a lot of use cases in logistics. There are a lot of use cases. There are a lot of use cases in manufacturing, media entertainment, very interesting things are happening. So
It is not restricted to the FSM it is a it's a technology I mean it is like saying is internet technology and websites will be for bfsi though, but large user is pfsa right? So it is like that it's a technology which will enable multiple things. Right?
every industry is part of it. By Design by history by the way things have been doing. The bfsi industry uses the technology most.
Okay, Medusa is asking a very interesting question already we can implement a technology to replace a governing body. So if you can just explain what you mean by that loop, we can discuss that. If you want to come on. Come on now. Voice and ask that will be great, but really look at it.
If it's a self regulatory body, there is another body except that
A government body replaced by some other body right there. If you don't have a mediator and create a p2p network
where things happen, let's look at, I can broadly say, UPI in which I transfer money from my bank account to your bank account. Right is p2p, but the challenge is it still goes to the bank and the mpca settlement process.
You've I and you can interact and have the same level of trust on the transaction. That's when it is automation of trust.
Right, there is no central authority app that setting which is answering the question for me to join, right if there is no central authority, and there is no intermediary who makes that happen, and still it works is how
automation of trust using blockchain is is creating a change in the industry. Right. So if without
You, too people can transact forget about local, let's say international transaction happens. Somebody selling a container of materials to India, right from let us say Europe, let's say France. What happens? their documentation process itself is huge. Taking a bank guarantee creating an LLC getting a letter of intent. I mean, it's a huge process. That is, I think that itself enough money is being spent and the time is spent on it.
Just Just look at online transfer of funds is three to two seconds, three seconds today, but international transfer, still the server problem. How do I ensure that with because there's lack of trust, coming from which country going to which country from which individual to which individual, do KYC data falling inward remittance certificate, right. These are challenged.
judges that are inherent in regulated system
the regulation is not there has to become zero.
There is no trust in creating them completing the process. Now, if the comfort of trust, which comes from regulation is available through technology, and you don't need to spend on that you can clearly transact with people. That's where a business to business or individual to individuals what can happen is what the potential of blockchain is.
So she does ask him if crypto currencies have banned him. Is it legal for blockchain based startups to make and sell products on technology? See, please understand.
Let's Let's take an example. pornography is died.
And there was companies creating websites you thought that
website and internet technology is one. The use case is different.
Now that are betting let's make tech easier example betting is not all.
The technology is not bad dating is back.
I can use the internet for digital health counseling, nothing wrong.
Similarly, even when crypto currencies were banned, like no RBS, sorry the Supreme Court has allowed that also. Right. But even when that is bad technology was not bad. It was exactly the same time many governments wanted to use technology. Right? People created use cases like polling, like logistics management, like
provenance of so soft materials, like international fund transfer. These blockchain based startups are allowed
not illegal at all.
Right? trading in cryptocurrency was what was that? And cryptocurrency was one of two use cases, which was, unfortunately the first use case the technology of blockchain came into.
I think so magic Are you from the industry? bfsi industry? Very, very interesting question.
Right. He's asking the question about
do you see India's secondary bond market infrastructure creation using blockchain, while India or for that matter, global bonds market the debt market is
really large, it is still not automated and it is still largely negotiated transactions people still are on the forum saying that I will offer you at 117 rupees 23 pesos somebody says I will buy if it is hundred and 7235. That discussion can
happening, and blockchain has a huge potential in that market. Right. So anything where the transparency today's low and needs better transparency,
there is a great potential and suffragette if this is your interest, you should really look at creating a structure for it and there is a huge potential for a startup, a fin tech startup on this, because just for the understanding of people who may not know the market bond market is multi times 10 x bigger than the equity markets. However, it is not still automated. Okay.
So that's that's where we are I'll proceed on this.
So this is the expectation in the market 2020. The market is globally supposed to be at around $3 billion
and are expected to go to 13 X to $39 billion by 2030.
75 and this is
a CAGR of 67%.
I don't think any other any other technology is expected to grow this fast. The reason is it starting with the small level,
right, brilliant Economic Forum in the last Economic Forum meeting at some point of time predicted that 15% of the global economic wealth will be using blockchain by 2030. So, these are all directions towards it.
So, that's that's broadly about the concept of block chain as a automation of trust. See, I mean, I also probably add one more point, what is blockchain in the day itself, various different technologies which are already in the computer science world
and the research world which has come to
quantum cryptography on one side game theory on the other side distributed and p2p computing on the third side, all of them have come together to create blockchain
unlight central control process. It is a distributed network where the ledger is available with all the parties to copy of the ledger will available with different people.
Right, I have already done asking a question which are the major areas where blockchain technology is not feasible or necessary. So, it differs a lot let's let's look at it I when
somebody asks, do you what can we do the complete banking operation in blockchain? I don't think it's necessary.
It's a solved problem. There is no point in doing it. But there are problems in banking which has still not been solved.
blockchain is probably a good way to do it see what are the biggest problems of the banking industry? Yeah SME lending is always a problem small and medium enterprise because you don't know that to get data from is their financials dependable right so built is counting and getting funding for a start for small and medium enterprises extremely difficult on one side
right from the company side of it for the bank side of it, it's very difficult because they can't predict who's good and who's bad.
Yeah, blockchain solution can come. Let us for example, take I'm from Chennai and there are multiple automobile companies as well as automobile
spare parts manufacturers. Let us say devious
devious group is hi credit party organization and they have thousands of players who supplied goods for TCL TV or TVs.
know if a blockchain solution is done were
just taking PVS for a name don't cave take could be they are probably not planted or they will have different plans their company whichever company this that company says I have given a purchase order 2000 of my suppliers
in terms of giving a physical purchase order I will give yeah
yeah blockchain currency right for like our lack of terms I'm using currency like currency saying that 60 days from now, I will pay each of these companies which are my suppliers, so much money
okay. Now this currency is there I go to State Bank of India and then say was I have got a 20 crore order I have get 20 crore worth of currency. Please discount this and give me
15 crores of loan against it.
That could be easy, pretty easy for the bank to find, as long as they can verify these two, it's a ledger that's available, they can be one of the nodes in the blockchain of that big company and review it and ensure that this is correct.
Right, like the problems that we had on
jewelry paid that we had in the past, I don't want to get into that now, right will not happen in something like this.
Right. So, this can be a process. SME lending will become a far easier solution, at least for the organic sector, it will solve problem of 3040 50% of SMEs.
And they'll be solved. Probably yes. Right. That it is not necessary. Right. That's another part of the same question right? Not
feasible. See, I think the places where trust is not a problem.
You don't need it.
Right people already trust you don't need it. I don't know what those use cases are, right? Are the existing technologies are already taken care of. And there is no friction at all in that we don't need it.
We solve a problem which is going to be solved. Right. And the fact is that there are enough problems, which are still not solved.
If somebody can come out I mean, ripple. ripple is one of the
blockchain companies which has created centers of excellence on blockchain across the world in 10 different universities and AAA Hyderabad is one of them. Right?
What is our use case? They signed up with various banks dance, normal banking technology are being used to run the
Business Hello they have whatever whether there is a blockchain plugin where international transactions the data is taken from their central, what you call
the banking system and speaks to India's or other banks and transfer of funds happens in six seconds.
This is an unsolved problem which was generally taking a KYC and this and that FERC for three weeks is going in 66 seconds time. That's a problem worth solving. So, we just because technology can solve something we can't don't have to put everything into that.
What possible circumstances could boost blockchain market? I think all the circumstances are already there. One challenge that's there is see let's let's give out one interesting company I don't want to name the company I'll give the use case that they do work on.
How does the Googles and the Facebook make money, the advertisement all of us see
Right, technically searching is free. And the person who's searching is the product, who is sold to companies who want to advertise on that area of interest.
Now, there are browsers which are coming into the market, which says you can install this blockchain this process. The advertisement that you see, as a user, there'll be a revenue share for you. Very interesting use case.
Right? Or you are a publisher who publishes content, let us say you are a musician and come up with music.
It goes on YouTube, you don't know how much revenue it's coming. And there are business plans that are worked out on putting it on blockchain and every user
pays for what they view
Okay, so the various areas that this can be used and should be used. Are there any private sector government sector projects,
Currently at AAA the hydro retention program participants can participate. See, I think there are a few people there is something called the policy group I will talk about it, which has been created by disabled students of this program for giving giving policy inputs to various governments. Then there are the
blockchain centers are telling a lot of people are working on triple it are working on a wider stuff. I may not be able to detail it out at this point of time, but I can put you on to the right people that are asking what is the use case in logistics? Right.
See, I think just think about provenance.
Right? I think that's one big area, which has still not been solved, proving the source and the fact that somewhere some D product has moved in the second us
some of the others
the logistic related issues. I think many of the other existing technologies have solved. But the one which does not have the trust component is the provenance. I think that's where the maximal use cases are happening. Right. That's what I am aware of
cbj government should initiate and implement in every field, I think they are trying to do on land records. Governments are trying to do on poorly governments are trying to do this on non transparent markets. Right. So DC areas are pretty good. Right.
Rochester a couple of companies I am aware of in the power industry area, I can connect with you on and as answered, I did not want to name the browser on this update and that is brave browser as it is. Right. So I think there are others who have raised hands.
Allow them to
Kumar please ask your question.
Yes, sir. Thanks for letting me. So the question I have is some because whenever I
hear about blockchain mostly predominantly disabled BFS equipment, and I'm not working on that actually. So but I would like to interest in that technically. So what is it taken care prerequisites made? And how would like to get there? Actually?
I am mostly into cloud technologies ticket. Yeah. ServiceNow. Salesforce is all technologies.
So I think at end of the day, the domain is a use case.
Right? every domain I mean, I don't know whether you remember this. How many years of experience do you have?
Close to 30
Is anyone enough? Enough? That's good. So you probably know some effect. Right? When, when technology was coming in, they were appointing what is called domain experts. Right? Many companies still have it. domain experts used to come to specifically SAP implementation and other things. You will have a 10 member, implementation team or one or two member domain team as part of it.
You're right domain experts. Now, I think the way things are evolving The world is changing.
Right? Look at it. My primary responsibility includes marketing and sales right? for marketing, I have a couple of technology people attached.
Because technology in marketing is extremely important. Similarly, every use case requires technology experts today. So the earlier domain experts are attached to technology teams. Now the reverse is happening at this point of time
as we speak
Right okay every every operations every business, every industry, every domain requires technology experts
right, that role is something that will definitely be valuable and useful.
Right, someone who is a technology focused person, I, I am sure over a period of time you will know the use cases
right use cases are anywhere from the industry and that's one part The second part is please understand when the 40% is bfsi other 60% is outside the office right. So,
while what is visible is bfsi because technology is our primary product, right? The others are falling in place, I think health care users extensively blockchain right. So those things are falling entertainment or started using blockchain. So those things
Falling in place.
Okay, ah, that doesn't answer your question. Now. I will get to the next person.
Dave, Malia, please unmute yourself. Yes. Good afternoon. I'm from non competing background, but I have some interest for the last few years in blockchain. And in fact, I have published some white papers also, how the banking frauds using nepotism and knowledge can be arrested through blockchain. So my question is, since I'm from non competing background, and if I want to switch to blockchain totally, so
what does tapes I can follow, to be practical. I'm not talking about the generic. That's a good question. So what I will do is, I will just take another couple of them and maybe five minutes to talk about the program and how it will help both technical and non technical people.
Right, and then that will probably ask
90% of your questions if there is anything left, I will take it forward from that. Is that okay?
Sure, sure. So at this time, then I'll go into the program.
Let's see, as you can probably some of you might be aware, there are two types of blockchain one is public blockchain and the private blockchain. Right? Public blockchain, it's open to everybody. And over to everybody's, anybody can log in and look at it and create structure. I mean, I'm just making it very simple. I'm not going to technical, right, I may not be technically accurate, just a easy way to understand. And private blockchain is restricted to a subset of
people, right, as many companies as you would see, because end of the day, nobody wants to forego all the controls, but they want to still give control to people who are operating private blockchains are very popular among businesses, while the public blockchains are useful in a citizen scale products. Right very large customer to customer peer to peer individual programs right?
What is unique about our program we cover booths to try to hedge robot talentsprint blockchain program covers one public blockchain on one private blockchain right aetherium and hyper ledger.
Alright, the program gives both the technical and the business perspective.
When we talk about a technical and business perspective,
a person who wants to get into technical right Ravi Kumar was talking about I want to get in technical and they both said I want to be looking at business but I want to use technology.
We want to ensure that this program caters to both
right? Typically, we have seen in the past, we have nearly 5050 and technical non technical people enrolling first program. I, when you talk about we will work as a group because end of the day when you actually do a project, you need domain understanding and business perspective. You need technology and how to implement kind of the
skills which are come together which come together right. So, from that point of view, this will enable both
and of course, assignments, how will they be measured? When we have projects we also have technology project track under management project, the project will be similar, but the level of technology one will go or the level of business one will go will differ accordingly. And we also create group work in which you will work together in a group, which has reasonable number of technology, people and business perspective so that both learn from each other. Right. Learning cannot only happen from faculty and mentors, people have to work together and learn and this program enables that because the theory and practices 5050
the program includes three mini projects and one Capstone, right. All of them you will work in groups and that will create a large amount of learning
This is a fifth cohort we are starting now four cohorts have gone through more than 250 people have gone through the program. What is unique about this program?
This is not a typical online program, it is a session like this are the faculty when they come and introduce the concept. You can ask questions in between interact, right. It's live delivery where the faculty is available right in front of you. In addition to that, you also have mentors who will support you for doing the pro projects and group work that you will do
to do his peer group, I think, why I would say 50 60% of the learning can come from faculty and the projects. I think the balance impact of the program equally comes to the quality of peers you will interact with. sonically we have had the people with average experience of seven years of course, there will be somebody two year three year experience which 1520 years experience but
Average is 78 years experience people who come together and they are working together which is typically what will happen when you are actually implementing a project. Somebody will be at the managerial track, somebody will be in the technical track, somebody is in the fresher level, somebody will be very good in SETI, certain domains and other business, somebody will be pretty good then technology and coding, right. And they follow group together and learn and that's what makes us interesting to play the hydrobath of course, it's one of the top computer science research institutions in the country and there are only two institutions in the country which has the ripples, university UBI research CV, one does IIT Bombay, IIT Bombay, and the second is to try it Hyderabad and the blockchain Research Center of Excellence is funded by ripple. For by four this triple ID hydrobath curriculum is extremely
practitioner oriented, right? It will start with use cases look at how do we solve this? Why do we use blockchain for this and then proceed on that
excellent faculty both from triple it and from the industry, who will come together. And the platform in which you will learn is tried and tested tested for scale. This platform I think, more than one one and a half two lakh people have gone through. And there are some top academic institutions like I am Calcutta using this platform for delivering the normal MBA program. Right. So that benefit you will get. Another important part that we have seen in this program is that
I think many of the people who enroll for this program, want to launch startups or be part of startups. I think as of now, four startups have already come to the
program so far, and I think 2025 people which is 10% of the alumni return on
Part of startups right under is a startup related incubation support that's available from AAA to Hyderabad for the participants of this program.
The module one is on foundations, which is basic technology understanding and business use case understanding. Second is a public blockchain which is aetherium on smart contracts, then hyper ledger fabric was primary focus to the last cohort, we are introducing Bayes rule, which is a new update on the hyper ledger framework, which is the private blockchain then we also understand about various other blockchains in the market Be it
I mean there are at least 810 very, very possible.
coders is there and repellers there and all those things coming in. You will understand
All of them. I do a capstone project
75% of participants have more than five years experience 11% women 42% are from the startups and small companies and the 58 from large companies. 15% of the people who are doing for the program are leaders cxos VPS, general managers, 24% is managers. 23% is analysts and 38% are developers who are technology
software development people. Right.
As I said the program has resulted in four startups. And I think the program has contributed to the leaders of at least three companies blockchain practice, far from this program, and many others have done quality career shifts. Some of the
startups are this, five members of the program, that capstone project was converted into a startup
And the startup is called asleep medicine that those five numbers are currently running this.
Similarly, this is on farm blog again on pharmaceutical and healthcare site. Right? The product is trade ledger, right trust and transparency between manufacturers and distributors in healthcare sector. Right. The second was a capstone project which went into a startup
zero blockers, trying to solve the problem of real estate issue of transparency. And your three member team from one of the cohorts is driving this initiative. And as you could see, none of them are in bfsi. The fourth one is on blockchain policy group, research think tank of seven eight member who come together and
come up with how corporate currencies in the blockchain era first white paper has been published. There are various other policy groups
policy actions are coming from this group.
Right? So Kumar says, Okay, please go ahead. Come on. It's fine.
Yeah. Ramadan talks about similar to digilocker. Yes. So those, those powerful processes are available. And I think there are a lot of use cases where we can use blockchain, that blockchain can be the ideal solution. There are a lot of areas that you can use, but there's no point in using it for everything. There are enough problems, which are specifically in the right segment of
blockchains. STS. Right. those use cases itself will take the industry to whatever currently it's that 3 billion to 39 billion. The classes starts adding 26th of September if I'm not wrong, it was there in the chat. They can answer the square actually
And the phone number is there. So if you're really interested in number one, learning blockchain from the professionals in a format, which is very effective, as we've found efficient for a large number of working professionals, I think that's one reason why you should look at this program. The second reason is this only program which covers a public blockchain private blockchain and also combines technology and business use case together. So that's another reason why people consider this program is valuable. Third, in my view, is the quality of the peers you will work with and the alumni you can interact with. And last but not the least,
triple it is brand, certification and alumni membership from quality and learning from top professors.
And the last one is support for startups. Write that down
To the incubation center of CF, triple ID, and talentsprint has certain processes that we can support as well. So that's where we are. I can open up to more questions there. Manya Did that answer some part of your question?
Yes, sir. Yes. But anybody else who wants will this program provide certificate status or degree status or degree it's a certification, advanced certificate in blockchain and distributed ledger technologies. This program doesn't have placement assistance, but you will have this is a question from modok money. You will see that we are getting a lot of requests and demands like for example, cortex sorry.
what is it company I forgot here let me just get Tech Mahindra right. Tech Mahindra Ross has requirements various other companies have requirements when they have
paraments they will talk to this alumni of this program and take it up. While we don't officially provide placement support, we ensure that we enable people to understand what demand comes from the market and connect it with with participants so that they are able to exploit that opportunity.
Either nice taters Apoorva, you will get a triple ID, Hydra bot, the executive alumni email ID, and you can position yourself as an alumni, there are various alumni interactions that happens. There are benefits like the incubation support and other stuff that are available, you will be eligible for it. And
in addition to that, there are periodic events done exclusively for alumni to keep in touch with them with the technology and also network with people both in the academia, research and industry.
we have two more minutes, I can take a few more
questions if there are any.
In the meanwhile, I think there is a poll that is required to be taken. I have asked my team have just launched a poll, please answer the questions there And from that, we can take it forward. In a minute we can continue to
interact. Please go ahead with your questions, I can answer them
to the extent I have so Bijoy wants to ask a question. I think Joe, is your question answered or
I see your hand up you can unmute yourself and ask the question.
Good evening sir. Yes, sir myself, Vijay.
I want to know sir, the How can we implement this concept in the university certification now the most of the certificate in some cases we have seen the
fraud certificate is
The How can implement this the guy this is a very, very good use case. Right? This ensuring that there is no duplicate certificate, the there is a counterfeit certificate etc. There are already two three companies I'm aware of which are working on ensuring that the certificate of graduation with dual degree certificates was experienced Certificate of etc or being issued on blockchain because that becomes a transparent and multi ledger because end of the day, many frauds happen when the central record is there and somebody has access to that and they can correct it. So thank you for Thank you. So that can be avoided with this.
Okay, so to that extent, I think that's a great use case. There are many people trying to solve the problem, but the problem is still not solved. Yes. Everybody knows that blockchain is a great solution, but the right
definition of the use case and bringing it down and executing it. Yes, I think somebody will do it in the next six months to one year in my view, and there will be many startups that will be possible in this field. I think sir IIT Bombay is already implemented now. Yes IIT Bombay is implemented but actually spark right it Bombay's certificate value. Well, values create is a very small number of number of people who graduate in a year in the country is 10 million, right? Yes.
Which is a very big number and it is so much, right, maybe few thousands, it's hardly anything. This problem is an unsolved problem. Right? So like, for example, yeah, verification for employment is a big cause for employers. Yes, this can solve that problem extensively. Very good use case. DJ, please. Thank you. So thank you so much.
Asking for some
We can of course, so so we'll take care of it.
Is that Any other questions? I only have half of you responding to the poll. I mean,
something wrong with me. I think you don't want to give it back to me.
Oh, man, the program is a two lakh rupee program. It's a six month program. I think there are scholarships available for startups. There are scholarships available for professionals. And also there is a early bird scholarship that's available, I think, to 10th for peer program. as
Susan, would you like to go exact dates? I'm sorry, I didn't.
Yeah, see there's so the early scholarship is still September 10. And the program is starting on September 26 2016. Okay, and so those scholarships you can apply for and I think as for after the scholarship program fee is 1.5 lakhs right. Yes. That's what it is.
have only 31 people responding to the poll 10 nothing, I'm waiting for some more to
what is a call to action the courses program is a six month program right? And it will
September to let us say it's February or March right.
That will be the program.
You will be working largely during the weekends and of course weekdays you can take the support of our 24 by seven digital learning platform and mentor support will be available for all the projects and this will be typical to our very close to a physical classroom program because end of the day, you are interacting except that like from what from home you are learning from home but you have to continue working and you will continue learning from the faculty who will deliver through interactive live sessions.
BJ, you want to ask something? You unmuted yourself?
Thank you. Thanks. Okay, great, everyone. Nice Nice. Having all of you today I found the interaction very useful. I mean, it was good questions for me. I hope I have been able to answer most of them. And anything more is left please write to the email ID which Susan will share on the chat, and I will try to answer it in the next couple of days. I look forward to seeing you all in the program. Thank you for joining me today.
Watch the entire interview here https://youtu.be/raa_FZEtwiw