Ask Me Anything on Advanced Certification Program in Blockchain and Distributed Ledger Technologies
So, good evening one and all present. I am susan promise I take care of the triple it has about talentsprint advanced certification programs, blockchain and distributed ledger technologies, admissions and marketing but I have almost 10 years of experience and career guidance to professionals and students. Prior to talentsprint. I have been working with the Indian School of Business and works in School of Business guiding professionals for their better career decisions. So I welcome you all for today's session. The topic of the session is asked me anything on blockchain. Now blockchain we know is more than a technology it's a moment to help redefine most important business relationship through trust, transparency and newfound collaboration. The world has come to realize the immense potential of blockchain which is making its presence felt in banking, finance, healthcare supply chain and several other industries. Triple at handlebar blob blockchain Center of Excellence talentsprint offers the advanced certification program in blockchain and distributed ledger technologies. So far, professionals from worldwide working in top companies have transformed their careers with blockchain expertise. And the program has also carved a roadmap for aspiring entrepreneurs in the space and has paved the way for a successful launch of four unique blockchain startup. The key discussion features for today's session would be significance of blockchain application and the new normal introduction to our blockchain program and how has this hands on blockchain program become one of the most sought after program in India? To discuss these points, we have our lead faculty and the dean, Mr. Sunil Agarwal with us. So Neil has spent 20 years in three integrated areas of teaching research and startup ecosystem. His four areas of professional interest are emerging blockchain technology startups, online learning solutions, and digital business model. Good evening, Sunil.
And how does this program help participants power their career growth? To discuss this? We have a program alumnus with us Mr. Srikanth harrity. sreekanth is working as a senior director with an IT servicing for Good evening, Mr. sreekanth.
Good evening. Good evening,
Right. So, so little over to you, I would request you to take it forward from here and let's just start discussing about how blockchain has emerged. And how this program helps professionals to build their expertise in blockchain. And going forward, we'll take the question answers from the participants.
There are already two hands raised. So I would straight away go to my participants. And which I think we can start with you. Can you raise your question? Please go ahead.
So now his question is there in the chat as well? How is blockchain helping banks and insurance companies and how are they looking forward in future?
Okay, that's question number one. And lucky saying can you go ahead please unmute yourself and ask your question. Lucky thing you can unmute yourself and ask. Okay, what type of certificate no issues? I will I will take that question. Don't worry. Okay. Next question from tejaswini. Please go ahead and ask your question. Hello, yeah, Mr. Lucky saying. Yes, sir.
Good evening. Yes.
Tell me what do you want to ask?
I am asking
which type of certification you provide.
Yes. See, this certificate is from triple IIT Hyderabad. This is not from talentsprint because after completing this course, you will be considered alumni of triple IIT Hyderabad.
is that fine?
They just need Go ahead. Please unmute yourself. Okay, let me go to next participant AMOLED AMOLED unmute yourself. Hello. Yeah, um, Oh, go ahead. Sorry, I
have a cautious like after completing the certification program from triple it. So what are the benefits after completing the certification?
So what is your professional background when I would answer it better?
Yeah, basically, I'm a cybersecurity trainer, I have approximately five years of experience in the field of cyber security, I already I already handle the various cases regarding the cybercrime because I'm really interested in the blockchain. So that's
so you want to stick to to the world of training or you want to stick move to some other area, FinTech actually or whatever. Yeah, I
actually I want to move from the train to the corporate world. Okay.
See, let me introduce the program and what is the program vision that we have? See, blockchain technology can be taught from three perspectives. It can be taught as a computer science, it can be taught as a Management Science, it can be taught as a social science. Now, normally, people considered blockchain from a computer science perspective, but that perspective is actually a narrow perspective. The factor is that blockchain technology is far more relevant for business professionals, particularly when we come from a come towards the issue of designing business models, or designing new business architectures on designing scalable business opportunities. For example, let me give you one quick example of insurance companies. Now, insurance companies are basically in a very, very risky business. And if you know, most of insurance company, particularly private insurance companies don't make profit in first five years of their business, they make business in long term, but still, the risk remains. Now, what has happened that the potential of one serious crash or one serious epidemic or one serious bad year, can basically kill that company. Now, the issue here is in that kind of a situation, insurance companies need to do risk management of their own organization. So recently, a Swiss giant called Swiss our E which is the reinsurance giant of the world, has built a blockchain consortium called BB three eye and it has brought roughly 30 different insurance companies of the world together. Now, it means that risk transparency of each company can be managed. And in this way, you can basically reduce the premium for the end customer.
all these 30 players have to be brought together, then there has to be a mechanism of data sharing controls, then you should not be able to wallet, the privacy and business models of different players. Now how to bring all these 30 different insurance players together. Okay, that's where blockchain become critical. And this project has been a very successful project in the insurance sector. And it has been life for last three years. Now, when multiple players come together, they would always ask one thing, what are post blockchain revenue opportunities? Number one, what are the gains? And what are the shared responsibilities? Now in a blockchain kind of ecosystem in a blockchain consortium? You can actually make that possible. Okay. So that's where blockchain from a management perspective perspective makes huge sense. Then the third perspective is blockchain as a social science. Now, when I say blockchain as a social science for example, these days are few big questions are in the in the market in society, very big questions. For example, if India launches official digital currency, when does it It means Does it mean that people of India would be able to have deposit accounts right at the central bank? The way you can have deposit accounts that HDFC icac bank or SBA bank, can you have a deposit account right at RBA. Now, if you can have So, which, which means interest bearing deposit account, if that happens, will not public deposits shift from commercial banks to Central Bank. Now, this is a big thing, which means that commercial banks will start losing public deposits. And if they start losing public deposits, there can be bank run banks can fail. Now, in this kind of a context, this is a big social caution in this kind of a context, official digital currency is a big, big area. Now, this is a question which can be answered by a blockchain professional. Now, the issue here is that we are in a juncture in a historical juncture where large changes are happening. And these changes are not just going to be technological changes, these push these changes are also going to be economic changes and social changes, and to understand the deeper impact of that blockchain as social science also makes huge sense. So, that's why blockchain is computer science. blockchain as a Management Science and blockchain as a social science is very, very important to understand. And we basically merge these three elements to design a unique course. So that's our vision that when a student passes out of our program, he or she would be having a 360 degree of World of launch. And when is a 360 degree of view of blockchain? I'm not saying that that person would be able to develop just solidity based decentralized application or hyper ledger based application. I'm not saying that just that, that would be there. But there are other issues. For example, if there are six different blockchain technology platforms and you have three different use cases, which technology platform would suit which particular use case now, there are very very serious critical worldly decisions, which are not just technology specific, which are context specific. Now, this is where you need to have a 360 degree of 360 degree view of blockchain universe and in this way, we basically trained people to have a comprehensive outlook towards blockchain opportunities. Okay. Does that answer a part of your question? Yes, sir. So, do you want to add up with with any other question,
sir item No.
Okay. So, let me go back to earlier question
Mr. anoche. Mr. Miller, check us How is blockchain helping banks and insurance companies and how are they looking forward in the future? So, first part of this question Have I already answered the for this example of insurance sector Now, coming to banks, now, for your knowledge, currently, level Indian banks have signed build a blockchain consortium to share data with respect to one particular sector and that sector is msme. Normally, what happens in msme sector, let's assume you are a company, small company with a turnover of around five corrodes and you have taken a loan of 60 lakhs from a bank acts now, by collusion with some other bank, you forged documents and you take a loan of 80 lakh rupees rupees from the other bank also. Now, the issue here is that, if that person is going to default in loan a, that person will also going will be defaulting on me. Now, in that kind of a situation the real suffers would be the bank. So, the issue here is that these 11 banks have come together to share the credit worthiness of all the MSE players with all these 11 banks so that the NPS of these banks due to bad msme players can be checked. And this is something which is possible with the help of blockchain with the help of blockchain. Every bank can share once data whenever backend verification of each MSE msme player who is coming to get the loan would be done. Okay.
I've answered your question Do you have anything as a follow up question okay. So, let me go to next. The subpoena for in Yes, this is a paid course
Yeah, Abby shake has us interested to know in startups support Institute provides see up till now, five cohorts have got through our this particular program. And from these five cohorts for startups have emerged. Now, the beauty of these startups is that half of these startups are basically straight from lab to market, what they did in their lab projects actually turned out to be a relevant projects for market also and they transform those lab projects into new market based products. So, this is the success of our teaching our training, so that people can actually see at these new areas and look at the business scale of these these these areas. So, the issue here is that there are two ways that we do help, we have introduced one to one mentoring and one to one mentoring means that apart from the regular curriculum, which is spread over 24 weeks and over 140 hours, we have introduced one to one mentoring, where you can bring your personal project to us. And based upon those that project, we will start preparing you to write the actual design architecture or the white paper or some other things. Now, let me give you a couple of examples. In current cohort file, there are two students who brought their projects with me one person was working in the dairy sector. Now, I was bit surprised when I saw that person from a dairy sector is looking at blockchain, there is a vast gap between dairy sector tech savviness and blockchain technology. Then I asked why do you want to do this particular program and why this particular project is your favorite? He answered, you know, very, very honest manner and I was very happy and his answer was that sir, a giant financial company has approached us because he had a startup he said a giant financial company, which has also banking interests has approached us, because they want to basically shift into dairy sector lending. Now, why currently dairy sector is broadly managed by small and marginal farmers whose loan ticket size is generally around 80 lakh one lakh or 1.5 lakh, so, it is a small ticket size, but the rate of interest which is being charged by the lenders is around 5% per month, which means 60% per year. Now, why banks are not lending them lending to them. The problem here is that these particular marginal farmers are not tech savvy number one, number two banks are not interested in low ticket loan size because it's more effort and less revenue. So, in that sense, banks are not interested in that kind of opportunity. Now, if this is so, then why blockchain and why that financial giant wants to enter daily sector, the answer comes from blockchain. Now, there is a very interesting additional fact in dairy sector that all marginal and small farmers when they bring their milk, they they bring their milk to an agency which is called dairy processor. For example, there are 200 marginal farmers who are bringing their milk to that dairy farmer. This dairy farmer is the central agent See for a
milk society or whatever. Now, the issue here is that if you start connecting multiple dairy processing farmers together dairy processing units together, then it means that over a period of time you will get the information of which farmer is bringing how much milk to the market on a daily basis on a monthly basis on a yearly basis, which means you can get to know that what are the cash receivables of that particular farmer what is the what are the assets of that particular farmer and since this would be happening on a daily and a weekly and a monthly basis, over a period of time, you will get very serious know how of that particular farmer and his or her pain capacity, which means, that if you can start connecting multiple dairy processing units with the help of blockchain, then you you will get very good quality financial information about the farmers over time. Now, in that kind of a context of banking and financial giant can come into the picture and tell farmers that you are getting loans at 60% per annum, we will give you loans at 18% per annum now, 18% still still high but as compared to normal person those which are available at 14% but the point here is a farmer who is getting 60 paying 60% to get the same kind of loan at 18% would be a huge improvement. So, in that kind of a context that banking and financial giant wants to enter dairy sector and that student of ours is basically leaving that option and he is now doing one to one mentoring sessions with me and building the white paper of the entire project. This is the first example of what what one to one mentoring sessions can actually do that Another thing is that there is another female participant who is basically building a traceability based chain for premium specialty teas, she is based out of Assam and she has realized that because of non transparent supply chain she cannot get good price of her tea produce. But she if she is able to transform that supply chain with end to end transparency by showing on a single packet that from where this particular tea was produced on which in which season it was produced and in which test testing house it was tested and where it was packaged from where it started moving which auction house it moved, when you can show this kind of information to end consumer then you can definitely demand higher price and she has realized that with blockchain she can claim even double the price in certain tea varieties, she can even claim five extra price. Now, the issue here is this is a special specific area you need to know the domain expertise from the tea sector and she is also building this project as a one to one exercise with this. Okay. Now, these are the things which individuals can also do with with the mentors in a one to one fashion these these projects would be separate from three minor and one major hackathon projects which all the people would be doing in this course. Okay, so let me go to Donna what cryptocurrency how to tread then what I would ask you to the I would request you to ask this question bit more detail. Can you go to your mic and ask because cryptocurrency how to read is something I'm not able to make it out. Then can you raise your hand so that I can lower you? Okay, so let me go to Satya Prakash Sutton septembre gosh please go and ask your question. unmute yourself.
Hello, sir. Hi, sir. I am an entrepreneur. I run a sustainable sportswear brand also i manufactures sustainable fashion web for many brands, yoga brands and and other brands who supports sustainable business. So, I just I my questions are very basic like relate able to build my own supply chain platform using blockchain technology with the help of this course. And my second question is in future if I wanted to start my own startup providing blockchain services will this course helped me lead a company 100%
See, the issue here is basically we focus on five to six industry standard use cases in this particular program around which all the labs are focused. Now, these use cases are trade finance, custody of assets, supply chain insurance, claims management, vehicle Lifecycle Management, decentralized identity management or invoice management. So, broadly these six seven use cases are industry standards, where blockchain use case is fairly established. Now, when you enter this course and do labs, by the time you go beyond module number three, you will be able to design a blockchain project for your own self or for your own organization. So, you will be knowing that whether you would like to build your supply chain based company or a startup on using aetherium based solution or hyper ledger based solution, because at present, you are just giving me an idea that you want to build a supply chain based startup but supply chain is itself a huge industry, for example, in that what kind of stakeholders you want to bring in what kind of other supplementary technologies for example, packaging technology or IoT based things you want to bring in based upon that kind of inputs, you can decide what kind of platform will suit you to whether it will be hyper ledger fabric, whether it will be aetherium or whether it be something else, but one thing is very sure that this program will equip you with both these capabilities, you can partner with new companies, you can build your own blockchain startup for supply chain.
Okay, Himanshu, please go ahead.
my question is that, please tell me regarding the Bitcoin mining. See, the
issue here is Bitcoin mining is something which, if you have around 15 to $20 million, then I think you can easily go into bitcoin mining, but as far as profits are concerned, you will have to wait for at least couple of years why I'm saying so, the issue here is currently if you look at Bitcoin network hash rate it has already gone beyond 100 EXA hash. Now, when I say 100 EXA hash per second what do I mean by that? One EXA hash means 1000 PETA hash. One PETA hash means 1000 tera hash one tera hash means 1000 Giga hash. So, you can fairly understand that 100 EXA hash if per second network hash rate is fairly high. And at present roughly 500,000 async machines 500,000 async machines are running 24 hours to create Bitcoin which means that if you build a new mining farm, then you will have to spend a lot on async machines number one, number two on electricity and number three on manpower once you spend resources on all these three categories, then you will have to calculate what is the percentage network hash rate of your mining firm with the network. So if you are able to get to the range of 2% which means total 2% of 2% of total Bitcoin supply will go to you broadly. Okay. So in that sense, the initial investment would be very, very hard. And currently, you want to get into that 2% range, then my my hunch is that your initial investment might not be just 20 million Dollar it will be around $50 million. So if you have $50 million you're welcome to try it.
Okay. Just really, you haven't asked. Okay, let me go to other questions. We not Kumar, how can blockchain technology helps in agriculture, I've already given the example of tea sector. So I hope that that makes Vishnu Kumar How about app which can leak user data to third parties without permission. This is also Sony's data security issue. Yes. But we still are, what is your exact question? Can you specify?
Okay, any kid, go ahead.
Yeah. So thank you and good evening. My question is that You know, there are many people who want to actually implement blockchain solutions into variety of industries. But today, it's very difficult to actually maintain a strong use case for them. That's one second is even if you actually get in a use case, getting someone to develop this application says another actually challenge, like finding people from solidity or go Lang or JS node background, right? So how, how, with all these challenges, how do we actually make some sustainable solutions and propose some good ideas, which can be used as an use case for different businesses, you know, because ultimately, the aim would be that whatever role I and I would want to actually propose, you know, mainly into the financial sector, or, or into the healthcare sector, where I primarily worked on, you know, both of this, I want to see myself that I want to actually strongly recommend a few of the solutions using blockchain, maybe in healthcare, or maybe in financial, but the challenges come around, you know, the, the kind of validity and the strength of this use case, that's one second is on the availability of resources. So, after doing this course, you know, would I would I equip myself to kind of confidently talking about, you know, implementing this solution with a, with a kind of confidence that okay, business results will be derived out of it? You know, what, how do we actually see as an, you know,
God, so, I, I would definitely answer this question, but I would like you to listen to our elements illuminous, sreekanth, I think, first you should answer this question, then I will supplement.
Yeah. So roughly. That's it. Thank you. There are two parts to it right. To the question. The first part is to know whether this course will help you to kind of construct a business problem in such a way that yes, it is right for implementing the blockchain as a solution. Like, first part, second part is yes, you know, once I am able to do it, will I be able to identify the right kind of platform? Or will this course equip me with the right kind of skills for implementing the solution? Right, these are two questions. Yeah. Yeah. So the first the first part of the solution, or the second part of the solution? And both answers is Yes, very much it will, this course will help you to do it. Let me give you my experience as such, you know, in terms of how I can definitely relate to this. I come from a technology background. So for me programming was, you know, quite fairly easy. But for me to appreciate how to develop the overall solution to ensure that, you know, it kind of falls in the blockchain space. That was a big learning for me, and that's what was the key takeaway from this from this course. Okay, yeah.
Okay, yeah. So I think you can you have already answered the question. I don't need to supplement it. you've answered brilliantly. Yeah, I will. I will just add to one more question that has been asked by Mr. n, which that mainly I'm concerned with bFc sector can we know about naming names of for startups that are come from this program? See, the first startup that came from our program was called ously, medicine.com. And ously medicine is basically a startup which focuses on stopping counterfeit drugs from entering drug supply chain and this is a revenue positive startup already and based out of Hyderabad, the another startup is farm block, which is a Bangalore based startup which basically focuses on high value diagnostic products and build end to end traceability of diagnostics supply chain. So both are revenue positive. startups, that third startup is zero blocks. Zero block is basically a startup which basically does fractional fractional ownership of real estate. It is a Hyderabad based project, this is also live and the third start a fourth startup is basically not a actual startup. It is basically a policy group, which is the name of the policy group is blockchain policy group. And the first paper released by this policy group was called corporate currencies in blockchain era, and they released this paper in April 2019. And after two months of that particular paper release, Facebook decided to launch its A unique cryptocurrency called Libra and now the name has been changed from Libra to D beam dollar. So, the issue here is that we basically equip you in both these things, practice and conceptualization. So, on both these counts, you can actually go a group quite well. So, Prashant, what would be the impact of blockchain in construction industry? See, the issue here is, let me give you an actual example. There is a company in South America called constructible. It's a very large company, large IT company which specializes in large infrastructure projects, nine infrastructure projects, there are some very very critical areas. The first area is inventory management, because huge inventory management is there and number of suppliers are there. And naturally, you cannot basically check each and every inventory every supplier on a daily basis. Now, the issue here is if you have a project visit which is distributed across 500 square meters, square kilometers, then in that kind of a situation, how would you manage that project. So basically, what they have done, they have metric based, they have used a blockchain technology platform called multi chain with the help of multi chain, what they do, what they have done is they have built multiple nodes allocated to multiple suppliers, multiple vendors, multiple other administrators. Now with that, they have assigned REITs to multiple nodes, multiple administrators in such a way that they have end to end visibility of each and everything happening in real time on the ground. So in that sense, they haven't been able to curtail lots and lots of wastage, lots and lots of leakage and theft. So that says, Prashant, if you're asking so this is something which is basically related with construction industry or large infrastructure projects. So blockchain can be used here quite well.
a performance as how many mentors are in this program. The issue here is that you are at present looking only at me, there are five modules and in the first module, triple it. first and fourth module, triple it faculty members and me We teach. So three faculty members from triple it, and B four. And as far as Ethereum and hyperledger are concerned. So two more faculty members. So as far as the lead theory, faculty is concerned, so there are six faculty members, but as far as practice faculty is concerned, so we have five more members, which means that six plus 511 faculty members and these practice realty members basically help you in labs, since this program is basically 50% theory and 50% practical. So role of teaching mentors in the lab is very, very critical. So broadly, we have 11 faculty members to help you during these 24 weeks. And see that proposal. The issue here is that out of 11 faculty members, at one time, you will get only one or two. So we cannot bring all 11 faculty members right here before you and particularly as far as practice faculty members are concerned, you will never understand your capabilities without getting into lab kind of environment. So that's why the best test of our capabilities is that we are already running this program for more than two years, five cohorts have already passed from from this particular institution. So I think that's a good good proof of us.
Morning, Kate. She can't Prashant has asked Can I create a smart contract paid from after acquiring knowledge from this course? Can you answer that?
Yeah, so what do you indicate what is the specific question when you say, a smart contract
Yes, you know, this course will equip you to develop smart contracts on aetherium platform. Are you saying you want to develop something like aetherium? Is that the question?
your study, I'd looked at a test question.
Okay, because I suppose
sorry. Yeah, question. Yes.
Yeah. So, I mean, if you personally asked, say, My aim would not be actually just to kind of,
my aim would not be kind of building a smart contract or something. But at least what happens is, you know, in this today's world, I come from a technology project management background, you know, so I've been a project manager for a long time in sector and for some time in the healthcare as well. But I think the world is going more towards, you know, this role called as our technical project managers or technical, I would say, experts, who can actually technically as well understand that, okay, what's going wrong into the product? Or what's gone wrong into the development and so on? So until the person who has some good understanding on Okay, you know, how the code has been written? Or Okay, what is the technique been used here and so on? You know, it becomes difficult, right? You know, in that case, you're running a project, but you don't really have a technical hands on, you know, driving the bus completely. So my, you know, my say, was that, okay, after this, you know, beat, let's say, hyper ledger. So, you know, maybe, you know, somebody is doing work on hyper ledger, or maybe somebody is doing work with distributed ledger, or maybe doing work with, you know, on the, on the financial side, maybe with the let's say, you know, something on, you know, kryptos or, or fake currencies. So, what would a person coming out of this course, be able to actually have some kind of a good technical understanding of how the product is actually driving?
Absolutely. So, if I tell you by example, right, so, I, my why, in my assignment, I wrote most of the smart contracts for my, okay. So, you will, you will certainly write smart contracts, and that's basically the way the course will guide you. Say, if that is the question, you know, can I develop a platform? That's a different level of question itself, you know, but, you know, I mean, I, I
wouldn't go see I told you my background, right, I wouldn't go for a full fledged development of a platform or something. But, my intention would be that to run a blockchain project, you know, the person should have a have some kind of good exposure towards how technologies are being used into implementing that solution, right, we're going to be here maybe you know, we make a use of solidity right or maybe go Lang or you know, JS node while developing it or Portland for that matter, right. So, today, it kind of appears that okay, you know, for for me the situation is that okay, someone developing a blockchain solution and asking me that, would you be able to project manage this? I would say that yes, but from a procedural perspective, not from as a technical project manager, you know, so, for me, the shift would be that okay, from a procedural project manager as to understanding that okay, what are the risks What are you know,
God is gone, dependency. Got it, and he understood your question, but don't prolong it the issue to all your questions, answer is perfectly Yes. Okay. But you can do all those things by passing out of this particular course, you can do all those things. So let me move to next question who they say okay,
sorry, sir. You know, I know she's nauseous. I just want to know it
happening. Don't Don't worry. He asked, Is India planning a cbdc pilot project? Yes. Recently government of India has proposed a bill in the parliament and and the bill says that they are going to launch an official digital currency. The details are yet to be out but it and I have to. I do have some friends at premium organizations. And regulatory organizations and they have indicated that they are looking for a cbdc pilot very soon. So straight answer to your question today is that he is
are no chairs as is this program different from FinTech program offered by talentsprint at I am Calcutta Yes. See the issue here is the am Calcutta FinTech and financial blockchain program is basically more focus on number one FinTech and it doesn't give you hands on training, but this current this program with triple it, Hyderabad offers you hands on training. So, this is a 50% theory and 50% practical okay, but on program is purely theoretical. So this is the big difference.
present. Your question is How will you conduct the lab portion of a course speaker? would you answer this question? Prashant has asked how would you conduct the lab portion?
Yeah, so, from from a lab perspective, the hands you will be enabled with the required prerequisites in terms of you know, how to get into a virtual machine for you with all the with all the infrastructure setup, for example, the Docker instances of hyper ledger fabric or you know, connection to aetherium, the test machines and things like that, all of that you will get a guide for you to kind of do it. And if you are unable to or if you get stuck at some place, there are mentors that will step in and help you out with that. So a prerequisite is given to you in terms of you know, what your machine should have plus, there is a cloud connectivity given to a particular Linux machine, kind of a thing that will help you to set up all your prerequisites there and then get your hands on work done. It's a very straightforward thing.
Okay, so let's move on to next question. Mr. Malaysia has raised his hand Mr. boorish over to you.
Can you hear me?
Yeah, go ahead.
The question is to Mr. silicon. Mr. Speaker, I'm not a technological having any technological background. I always step back from coding and all that since 1980. I am 55. And I am a hardcore into stock market trading and strategies on the stock exchange and devising some process with respect to the currencies as well as the indices of the world with respect to indian indian indices with respect to BSE, nse, nifty bank nifty and the option strategies are, according to that from last 15 years. At present, we all do all that physically. Or maybe with some algos, which we have developed through some connections of friends in Python. But for me, it's like, I'm totally new to this and the coding side of it. Second thing is to what extent I will be able to cope up with the practical part of the course. I need to small brief about it. Okay.
So the question is, you know, this doesn't really help you, if you do if you are not hands on into coding, right? Very simple. Yes. Yeah. Yeah. So, there are as Sunil suggested, there are two parts to this overall course right one is the understanding of the blockchain ecosystem itself, that is an app that is very, very critical for you to appreciate how blockchain will help you in your own space, you know, in, in, in financial markets, and in security markets, etc, or even in currencies. The second part comes, you know, to is the second part is a place where you kind of, you know, zero in on a particular use case, which is, you know, set of use cases that are provided to you or, you know, you can bring your own use case and kind of, you know, think that you know, you want to implement a small solution for it in the labs. Now, where the labs are brought is something where each individual person kind of takes a particular use case and implements is it's a group that comes together and implements it. So, there is a peer group that is identified, and then you kind of are placed in that group and then that group will have people with different backgrounds. So, for somebody to go implement a use case, it's not that you know, you will have to be hands on of course, if you are hands on You will be able to appreciate it better, but the biggest contribution from a person like you would be to build the wall the define the resist problem and to define a solution, once that solution is defined, then you can take help off you know, other students in your cohort of people in your group itself are implemented, and then you can always be there to see you know, whether that particular solution is being implemented in the right way from our point of view functionality as well as satisfying the blockchain principles.
So, yeah again, so,
if you need not be hands on his mind is my point of view.
So, I will need help from both of you, both are seniors in coding and also as a startup or as
he will be here will be here,
I need I need your help in that shop. Second thing. Second, another. Another question is, I'm trying to collect almost 660,000 villages with the help of the central government and build the villages along with the farmers in there and it will be a corporate structure not a social structure or not with car funds are something so, later I will be able to use blockchain platform for the same connecting all the farmers have
got it, but raise the issue here is that currently in this particular cohort, we have done two use cases in for agriculture sector first use case which I have already mentioned is with respect to dairy sector using blockchain and the other use case is basically about cold storage. And these two use cases have been done by our participants in a very very defined manner. So, if you need any support from either of these two groups, I can connect you because at present when you're saying that you have a vision of connecting more than five lakh farm farm or five lakh villages of India, then in that kind of a large vision, you will need to enter the into multiple sub sectors of agriculture. So in agri, which situation, cold storage is a very important point, dairy sector is a very important point. So, if you need to focus on any of these particular areas, we can connect you with these teams who have already worked on this. Okay.
Okay, so we are partners for that particular project. Don't worry, it's a team work. It's a it's a, it's a my brainchild is gone, it's gone has already implemented it in Bombay, and they are with me for developing the same thing for other parts of the country.
I will suggest you to write a concept note and send us that concept note so that we can basically continue this discussion in a more nuanced manner.
True, very true. Okay. Yeah,
I will wait for your concept note.
Yeah, it will come by. By tomorrow. It will be with you. Sure. Thank you. The infrastructure is ready. Yeah. Yeah. Okay. Both of you. Thanks a lot. Yeah. Okay.
So next question is from Preet Mohinder, Government of India is planning to launch a ban on cryptocurrency can it affect the development of blockchain? See, try to understand when you are not able to segregate the substance from the hype, then these questions these kinds of questions emerge. Government of India has written two things in its proposal. First thing is that they want to bring official digital currency, the framework is yet to be announced. So the devil is in details. The second thing is the government is saying that government will be instituting prohibition of certain cryptocurrencies with some exceptions. Now, when they say cryptocurrency, they are basically saying private cryptocurrencies. Now, what is the definition of private currency? Can you call Bitcoin? A private currency? answer is no, can you call aetherium as a private cryptocurrency answer is no. But if tomorrow I create my own cryptocurrency on aetherium plate from there, it would be called a private cryptocurrency. So what I feel is that government is going to bring a regulatory framework for blockchain sector, particularly permissionless or public blockchains per se mean simply send crypto sector. So that thing is yet to be seen the last date which comment had said that by 13th of February comment would be bringing the bill into the parliament for discussion. But Rajya Sabha has already lapsed out so which means it will be meeting again only in late March. So it means we are yet not able to see the fine print or any serious discussion on this area. So there are lots of things which are yet to be clear on both official district currency as well as on what kind of prohibition government would introduce, as far as banning of something like Bitcoin or aetherium is concerned, practically no such no country ever in any part of the world is, is taking that route. Because, technically and regulatory in regulatory terms, it is practically impossible to ban these cryptocurrencies, the only thing that can be done is that you can stop banks to have a relationship with cryptocurrency exchanges, which was done from 2018, April to March 2020. That was the best of government can do. And government has already realized after Supreme Court lifted that ban, government has already realized that it cannot go back on similar track. So it will have to bring new ones to the grid regulatory framework, that's why we are all waiting for that framework, we want we want to see the fine print. So I cannot I would not find it accurate to respond to only just these hype, proclamations
serve, but I indicate here, I'm sorry for jumping in between on this site, how do you see the role of ripple actually coming into the play, you know, ripple being one of the exchange into this space, which is also working towards some regulatory side of it. So, how do you see the role of ripple into this area? And what is that, you know, how can we actually get involved with it into into the domains that we are currently in to
see a ripple as a company is at present in dicey waters. And this is because of an issue which they are having with sec Securities and Exchange Commission of USC and the issue is the ripple token, which is called x RP, whether this token is a security token or a utility token, since Ripple Labs have issued 100 billion such tokens and more than 14 billion of such tokens are already in circulation,
Now, the issue here is that if it is a security, then have they not violated securities framework by sharing insider information with investors, because they have issued these securities tokens, these tokens to multiple retail investors. So in that sense, is it not a violation of securities law? So this is fundamental question. Now, if sec says that, it is definitely a security, then ripple is going to face a huge punishment. Now what that punishment would be I don't know. But this is one side. Second side is that as far as ripple use case is concerned, its use cases very, very specific global inter banking transactions, a transaction which can take three to five days between two countries and there is huge cost, huge delays and lot of Counterparty stress to solve all these problems in one go. What happens in three to five days ripple can does can do that in less than 10 seconds. So that count ripple has shown its success story across multiple players, it is doing more than a million transactions a day right now. So on that side at ripple is both a promising company but also a questionable company. So what happens with SEC is yet to be found out, so I would keep my fingers crossed to them.
Okay, okay. Yeah.
The next question that I had is, during this course, I am actually, I want to implement My vision is to implement some of the solutions into healthcare sector because that sector in that sector of keeping privacy of information is utmost important. Today, the exposures are not taught at what
God does just she can go to answer that question.
Yes, you only get to know you, you will be able to, you know, do a understand you'll be you'll be able to define the overall problem in a manner that you can take it into implementation very, very simply to answer your question. Okay.
Yeah, I mean, but, for example,
you know, there are
a lot of things in healthcare sector, which, which only domain experts would know. So, in that case, how do we actually implement sustainable solutions
here? Right, it's an incremental process, right. So first, you need to have an overall idea and then test it out with your particular specific use case and then expand that use case. So this course will help you to do the initial identification of the problem, then zero in on a particular use case and implemented or setting it's up to you how you want to expand it and you know, make it make it large and kind of add some additional use cases and things like that. And from a security perspective, it's very, very clear that you know, what are those principles that you want to learn to help identify and ensure that privacy is there that that is something you will learn as well in the course.
Thank you. Okay.
Okay, I know she has asked just to talk about CB DC so when digital currency is out, people and companies surely invest in it's obvious there will be huge demand and profits at a nascent stage. So my question is, first, will it be possible to mine like Bitcoin? Secondly, he will be blocking houses like motiva Angel broking will start public trading on hence, is it possible to develop some trading platform through this course? See, I know it's why I'm laughing on this particular question. The answer is that no central bank is looking at launching cbdc as a speculative token, no central bank is looking at that. It will not be a Bitcoin like proof of work my neighbor's currency, it will not be like this. So that's why its value would be 100% stable and would be aligned to normal rupee. So zero speculation would be there. So that's where the early entry into investing cbdc will not help. But the issue here is that cbtc framework is yet to be declared. And remember, when people talk about CB DC, cb DC can be of multiple varieties. For example, cb DC can be a wholesale CB DC CB DC can be a retail CB DC. Second thing is that CB DC can also be a token kind of a thing as a token kind of an instrument, it can also be a account type of instrument. So if it is an account type of instrument, it will almost resemble your current account current deposit accounts. So the way you maintain your account at Indian bank, you will be able to maintain your account with RBA. But if you want to use a token type architecture, then you will be having a private key and a public key kind of a combination. So how this would happen is something we are yet to see. But I'm 100% sure that cbtc will not be a currency, which will have a huge jumps in prices, it won't have that. So, in that sense, I would suggest you to get rid of this kind of assumption. So in that sense, you don't need to build a broken house or a trading platform to to deal with this. And as far as trading in cryptocurrencies or virtual currencies are concerned. Already, there are 400 cryptocurrency exchanges in the world. There are more than 30,000 trading pairs which are already being traded on a daily basis. The Daily volume of cryptocurrency trading is roughly more than 100 billion dollar and out of these 400 cryptocurrency exchanges. 200 are decentralized cryptocurrency exchanges, which means they are non custodial cryptocurrency exchanges and all the matching order match matching or all those things are done by smart contracts like uniswap uniswap handles $15 billion of trading volume on a daily basis and no human being is involved. smart contracts are doing that kind of a trading. So in that sense, this is a pretty new world and it is different from what Medina last fall and Angel broking have been doing so, I would suggest you to wait and deep dive into this field before doing something big
What would you the batch size will reply to help participants published research papers in say scope of Scopus or UGC approved journals she got would you answer then I will supplement
yeah typical bad says you know is I mean when I was in a batch It was about close to 100 people. So, now that it is online it is perhaps you know, around the same or properties is increased as well so you could but the biggest advantage is that the peer group is fantastic you will be able to connect with a wide variety of professionals coming from a different set of backgrounds So, the ability to connect with them and learn from as a group is actually no tax what is the most important aspect of course, you know, once you are the security has advanced alumnus you get access to multiple resources. Specifically, I'm not sure from a Scopus are usually separate journals perspective weather, I have not explored this particular aspect of the of the alumnus, but however, it's a very very active group.
Yeah, let me add to this triple IIT Hyderabad is running Center of Excellence, blockchain excellence, and it is funded by Ripple Labs. So, to tell you already six faculty members are working in that center of blockchain excellence and faculty from that particular center is teaching in this particular program. So, as far as publication is concerned publication is the default requirement of this particular center. So if you are seriously pursuing research based carrier growth, then I think you won't get a better blockchain center in India than triple IIT Hyderabad. So all kinds of research help would be provided because propriety hazaribag is, is basically a residential research oriented University. There are no de scholars in this particular industry, when if people come to this university, they basically spend their entire time people are working their labs, even late night, even in midnight. So this is a very, very different kind of university, completely different from the regular priority universities you have come across. So in that sense, research is prime focus here. So if you want to grow in that particular direction, you will get huge opportunities. But raise your question that will consider once that has been with since 2000. Now we'll end with I don't know, this is a huge social science question. And more and more scholars are grappling with this question. And let me see, let us see what China does on that front. It is very sure that dollar is losing its dominant status. How much time will it take more is, is everybody's guess. And second thing is what China is actually going to do its with its cbdc is yet not clear, because it is in advanced stage of execution. So pilot pilot project. So let us see, once those pilot projects are done, what China does, so only then we can say something concrete on that.
No, I was asking from a different angle. Yeah, Federal Reserve as in almost $18 trillion in 2009. Also, Federal Reserve has bombed in $18 trillion to date since last nine months. 10 months. Yeah, I don't see a go back for that. So dollar has almost lost its importance. And Federal Reserve cannot go back and get the money back. Because otherwise well, weightless. Yeah, economically and otherwise. So that's one part of it. Second thing what China does, it's a secondary part. I agree with you. But with with specifically with blockchain, revolutionising the commerce part of the world, is basically the internet revolutionize the information systems, this blockchain will revolutionize the visibly commerce part of the world. And when the currency itself will be at your body, a new thing that which so many cryptocurrencies and with the country also coming out with their own currency and all the basically the war will end and whatever is happening last time, you will see a new money, we will see a new Medea not See, the issue here is that
how the history would unfold is something anybody's guess I won't jump into that kind of speculation. But favorite scholar of mine, Mr. David birch has said that feature of money would be based upon five C's. And he said that these five C's would be deciding the future of money. And out of these five C's first two C's are all already known to us first C is central bank. Second see is commercial bank. But the less the other three C's are very interesting. The third C is companies, which means he says the corporate currencies would become that default flavor. fourth one is commodity currencies. For example, you can use a standard like blockchain to build corporate community currencies. And then fifth one is cryptocurrencies. He says that basically, future of money would be built on a multi currency regime, which would be coming from these five C's.
Okay, great. Great. Great. Yeah.
Okay, so we are already 20 minutes past six. So let's wind up. Let me take last question, if you can provide word
to me. I have the poll. I will just launch the poll by the time we will.
Figure Yeah, you can you can. Go ahead.
Yeah. Hi, sir. Sir. So basically, I have three questions. The first one is the key difference between aetherium and the hyper ledger fabric. The second one is why is that few people say that hyper ledger fabric does not have a future because it's just a hype, because it doesn't have the basic quality of blockchain, which is the transparency. The third question is I lost a few some crypto currencies, which was kept in a wallet called cryptopia. Which is a new slang is that is it practically possible to have a technology which can track the moment of every currencies? Which is trade? Okay.
Okay, actually, can you try?
Yes. So first, as you know, what is the difference between aetherium and hyper ledger fabric? Certainly, you know, there are people who are really passionate about blockchain always support you know, the public platforms because permissionless but the when you look at it blockchain as an ecosystem, enterprises have a role to play there and enterprises need some kind of a way to control the ecosystem and that's reason why hyper ledger fabric has emerged, which is a permission you need permission to operate on hyper ledger fabric you can set up your own network identities have to be revealed, because you need to know who is not performing a transaction. However, there are ways and means to safeguard information or to suppress some of the information to not to be revealed to others. So those techniques is something that you can learn as in when you pick up the hyper ledger fabric knowledge.
And, and coming back to your last part about cryptocurrency is valid, which valid you are talking of cryptopia cryptopia, yes. And you have lost private key.
Or no, that is very much with me.
So what is your problem? No, the
I mean, whatever. currencies, which was there in the wallet is missing.
they say they claim that the whole wallet has been hacked and they are fighting illegal. Okay, okay. Okay.
Okay, got it. Got it. Got it. See, the issue here is that basically this has happened because you have trusted a centralized custodian for holding your private keys.
So when you hold a custodian, which is a centralized player for storing your private keys, then these kinds of instances will happen. And remember, in 2014, Mount Gox had lost 500 million worth of Bitcoin. That's why you need to understand basically between among three kinds of ballots, warm ballots, which is rather hot wallets, which are basically centralized wallets offered by cryptocurrency exchanges, then there are warm ballots like independent Well, it's like Jack's liberty, which are basically downloaded by individual individuals themselves and private key is safeguarded by themselves. And the third kind of ballots are hardware that it's like trays or ledger, ledger nano s and keepkey. So, these are the wallets which are very, very safe treasure is very, very safe. So, if you ever are into cryptocurrencies then you must save them on only in hardware wallet. So, since you haven't done that you have you chosen a centralized custodian, then chances of recovering money from such a loss are literally nil, literally nil, some benevolent force may help you but otherwise, there is there is no hope.
So, basically, is there is there a possibility of having a technology, you know, a default this technology will be a default in every currency. So, then the moment is tracked, is it practically possible.
So try to understand the technology is already very, very transparent. If you know your public address from which public press money is moving to which other public address you can track it in real time. The problem here is as far as the account architecture, which is public and private key pair is concerned, that's where people don't want to take the responsibility of safeguarding private keys, because they have this particular problem. That's why the kind of incidents which has happened here, they happen because people are still not able to believe that things are decentralized. It's exactly like your digital version of cash. If you have 10 lakh rupees in cash with you, then the responsibility of safeguarding that money it lies with you number tears, same applies on cryptocurrencies. Okay.
If you look at the all the transactions that happen on Bitcoin or aetherium, we everything is transparent, you can go and check it out what transactions have happened, but you know, it's up to the individual to ensure that those private and public keys are safeguarded.
Okay. Okay. over to Susan.
Last question. Last question,
I'm sorry. You know, would
there be any kind of assignments as a part of this course, will be
weekly assignments, don't bother about that, because this entire program will be like this on Saturdays classes would be there. And you will get one full week to complete your assignments. And after your saturate class assignments would be released to you. And there'll be two kinds of assignments one would be multiple choice question based assignments based upon the material that you're studying the class and other one would be practical assignments, when it's a practical assignments, practical assignments would basically start from very small graded understanding of code, which means you will you will be asked to write four lines of code first in solidarity, then you will be asked about similar things about hyperledger. So, there will be broadly eight to 10 practical assignments, eight to 12 practical assignments and similar equal number of multiple choice question based assignments.
Okay, but you will be kept very busy any kid
that I know that does that is I want to understand the assignment and the other format. And second thing is, as a part of this course, would be be able to actually see Innovation Lab at triple it. Ah, I mean, can can that be possible? The
visit of innovation lab is part of the course Don't worry about. Okay,
So I, I hope all the questions are over and we are already overloaded the time I have a last question from Henri cancer. Just to share your experience about the program and I wanted to know, why did you think What was the need for you to choose blocks to do a blockchain program and multiple programs. So I want to understand why did you choose to do a blockchain program?
Yeah, I see the need to do the blockchain program came up because in I am a solution architect. So I kind of you know, work on multiple proposals coming from various clients and customers and customers. So it so happened that I came across one blockchain support related solution that I wanted to support. However, the information or the knowledge that I had specifically on blockchain was not enough. So that was a trigger for me to kind of learn something new. And also, when I read about blockchain on the internet, induce me to kind of you know, go grab additional knowledge and I was kind of looking for what courses are available for me to do and I chose Upon the trickle it talentsprint course and I jumped on it. Yeah, yes. So that was a that was a need for me to be up to date in a technology and then be able to support at my workplace that was a trigger for me.
Right. So that's all from my side as well. Thank you so much for cancer and Sony, for taking our time on a Sunday evening. And it doesn't mean all the queries which we usually deal with all the leads and all. Thanks to all the participants to be there and join us for the session today. The batch is going to start shortly. So in case you're interested for the program, I am the point of contact. Get in touch with me any time to understand more about the program.
Can you put your number and email here?
Yeah, I'll do that to the right. Yeah.
Thanks recount. It was nice interaction interaction. Yes. Thanks.
A great Valentine evening. Yeah, okay. Okay. Okay. Bye
Thanks a lot. My pleasure. Thank
you. Thank you.
Watch the entire interview here https://www.youtube.com/watch?v=_ctFuFUJtsQ