Experts discuss the future of blockchain technology in India’s startup revolution
6 min read
As an element of Startup 20 engagement discussion board of the G20 presidency, Savishkar India, in collaboration with National Stock Exchange (NSE), Anantam ecosystem and Digital Prosperity for Asia (DPA) organized a roundtable convention titled “Blockchain Revolution: Unlocking Startup Opportunities in India” on 20th July 2023 at NSE, Bandra Kurla Complex (BKC), Mumbai. The spherical desk convention, which was attended by 54 contributors emphasised on how blockchain technology has the capability to revolutionize the startup ecosystem.
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Speakers at the roundtable on Blockchain Revolution held in Mumbai on Friday
The roundtable introduced collectively key stakeholders from National Intellectual Property Awareness Mission (NIPAM), Atal Incubation Center (ATAL- AIC), Institute of Electrical and Electronics Engineers Entrepreneurship (IEEE entrepreneurship). The goal was to foster information sharing, collaboration, and coverage discussions that can pave the manner for unlocking the full potential of blockchain technology.
Mr. Chintan Oza, Council Member, Alliance Taskforce, Startup 20 and Dr. Sujata Seshadrinathan, Director – IT, Basiz Fund Services, Mumbai offered their ideas on blockchain. Their presentation specified statistics and analysis on technology, alternatives, regulatory frameworks, challenges, cross border commerce and engagement with authorities.
During the discussions, Dr. Seshadrinathan spoke about the alternatives, challenges and enabling elements of blockchain in numerous sectors. She spoke on implementation and price of blockchain innovation and went on to say that; “Blockchain helps us to construct a greater world. It is right here to remain and there’s no different technology prefer it. While many have understood the options of blockchain however not the technology behind it. There will probably be a niche in (understanding) of each innovation adoption in first few years. However, so far as technology is anxious, blockchain is one of the strongest improvements of latest instances and in addition the most misunderstood” Dr. Seshadrinathan added.
Stating the significance of blockchain Mr. Ashish Chauhan mentioned “One factor could be very certain, younger folks will be taught technology sooner and can enlighten us. We want a ‘patra’ for information, an individual who has that credibility and authority of the topic, who can talk and form discussions on it with authorities” In his concluding assertion Mr. Chauhan states, “We must deal with blockchain technology, AI, 5G and all types of technology, their benefits and drawbacks. It is essential that we’ve boards the place all facets of these applied sciences are mentioned after which dropped at gentle to the coverage makers. Blockchain as a technology is right here to remain and such discussions are very a lot crucial for the betterment of our nation”.
Mr. Ramnath Gopalakrishnan, Director & GM – APAC for DPA Member Quickwork, which has been a key member in exploring collaborations and alternatives in the APAC area, mentioned, “The Coalition for Digital Prosperity for Asia (DPA) helps the Startup20 India initiative as a significant step in the direction of empowering Indian SMEs in the blockchain and digital sectors to attain their full potential and energy strong development for India’s digital economic system. Events like this roundtable permit digital and blockchain entrepreneurs to show their ingenuity and showcase the potential of this emergent and promising market. The DPA is proud to be a companion of this Startup 20 engagement below the G20 umbrella and work in the direction of creating alternatives for capability growth for India’s digital startup ecosystem, selling seamless cross border information flows, and excessive requirements of digital commerce.”
Besides Mr. Oza and Dr. Seshadrinathan, the occasion noticed participation and discussions from a number of different famend names together with Mr. Ashish Kumar Chauhan, MD and CEO, National Stock Exchange, Mumbai; Mr. Nilesh Vohra, Enterprise Leader – Digital Transformation & Technology Infrastructure Enterprise Leader Arthur D. Little, amongst others.
The dialogue was moderated by Mr. Krantisagar More, PhD Scholar in pharmaceutics at the Institute of Chemical Technology (ICT), Mumbai, National Convenor, Savishkar India. Other material specialists together with Ms. Ekta Singh, IP Lawyer, Web 3; Dr. Unnat P Pandit, Controller General of Patents, Designs & Trade Marks, and Mr. Uday Wankawala, CEO Atal Incubation Center- Rambhau Mhalgi Prabodhini have been additionally half of the convention. Mr. Malcolm Gonsalves, and Mr. Kushaal Patel, two youth entrepreneurs, shared their views on Blockchain system and software in India.
Blockchain technology has been important development in India. Interestingly, each private and non-private sectors are exploring the potential of blockchain technology and methods to leverage it. There is immense scope for worth addition in the a number of sectors together with monetary sector, provide chain administration, healthcare, and training sectors to expedite processes, validate and securely retailer information. Government of India has already begun exploring the use of blockchain for presidency providers via ‘IndiaChain’, a block initiative launched by NITI Aayog. There is rising quantity of blockchain companies and innovation facilities focuses on finding out, creating, and implementing its use throughout domains.
About the organizers-
Savishkar India: Savishkar India is ruled by Vidyarthi Kalyan Niyas (VKN) Bhopal, MP. It supplies incubation platforms and internships to those that need to develop into entrepreneurs. Bringing out expertise, the group encourages your artistic concepts, supplies a wholesome dialogue with trade for the technological and sustainable growth of India
Digital prosperity for Asia (DPA): The coalition for the Digital Prosperity for Asia is a corporation consisting of a rising group of revolutionary Asian digital firms selling the democratization of digital applied sciences throughout all sectors. It helps nationwide governments and policymakers in APAC to develop their digital economies and reap the profit of digital applied sciences. The coalition is on the lookout for extra like-minded APAC firms in the digital house that acknowledge the significance of rising the digital economic system for native worth creation and for shared prosperity throughout Asia.
National Intellectual Property Awareness Mission (NIPAM): A National Intellectual Property Awareness Mission (NIPAM) below the initiative of the Government’s “Azadi ka Amrit Mahotsav”, has been launched by Shri Anurag Jain, Secretary, DPIIT. The pan-India formidable mission goals to offer consciousness on mental property and its rights to 1 million college students. It goals to inculcate the spirit of creativity and innovation to college students of greater training (lessons 8 to 12) and ignite and encourage the college students of school/Universities to innovate and shield their creations.
Institute of Chemical Technology ( ICT): University Department of Chemical Technology (popularly referred to as UDCT) of the University of Bombay, was established on October 1, 1933, with the noble intention of advancing India’s information reserves in chemical science and technology, the Institute has grown to develop into a premier (deemed) college dedicated to training, coaching, analysis and industrial collaboration in chemical engineering, chemical technology, utilized chemistry, pharmacy, biotechnology, and bioprocessing.
Atal Incubation Center (ATAL- AIC): Atal Incubation Centre is a flagship initiative to advertise the tradition of innovation and entrepreneurship in India. It is an umbrella construction that has been mandated to advertise innovation and revolutionize the entrepreneurial ecosystem in the nation. It develops new insurance policies and programmes for fostering innovation in totally different sectors of the economic system and supplies platform and collaboration alternatives to varied stakeholders in the entrepreneurial house.
Startup20: It is established below the G20 India Presidency 2023, is an engagement group representing international startup ecosystem stakeholders and elevating macroeconomic issues. It works on key matters, formulating suggestions, and presenting remaining suggestions to the G20 Presidency for dialogue at the G20 Summit.
Group of Twenty (G20): The G20 or Group of 20 is an intergovernmental discussion board comprising 19 international locations and the European Union. It works to deal with main points associated to the international economic system, corresponding to worldwide monetary stability, local weather change mitigation and sustainable growth, The G20 Summit is held yearly, below the management of a rotating Presidency.
Institute of Electrical and Electronics Engineers Entrepreneurship (IEEE entrepreneurship): The IEEE Entrepreneurship neighborhood is at the forefront of turning concepts into profitable companies. Their precedence is to assist our members not simply launch however develop their ventures and facilitate the networking and mentoring of those that have the ardour to translate their imaginative and prescient into actuality.
Anantam ecosystem: A enterprise capital and personal fairness principals firm engaged on ecosystem for Startup and MSME.
National Stock Exchange (NSE): National Stock Exchange of India Limited (NSE) is one of the main inventory exchanges in India, primarily based in Mumbai. It is the world’s largest derivatives alternate by quantity of contracts traded[a] and the third largest in money equities by quantity of trades, It is one of the largest inventory exchanges in the world by market capitalization. NSE’s flagship index, the NIFTY 50, a 50-stock index is used extensively by traders in India and round the world as a barometer of the Indian capital market. NSE is the venue companion of this Round desk convention.
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