EthCC 2: Karan Ambwani

good morning everyone thanks for being here I am cutting from consensus India I have my colleague my aunt here so are you guys working in India or are you interested in the Indian Indian a space for blockchain yeah a few of you so what we are going to present today is about half India is looking at blockchain and what are the different initiatives that are underway in India the different projects in public and private sector so most of the developed countries they were ready to write the first wave of digitalization back like two decades back India is right now in that phase in that stage where it's ready to directly adopt the web 3 web 3 wave what we come across many private and public enterprises who are now digitalising the infrastructure is driving their processes and they are directly ready to move to blocked in for that so India is in very exciting market it's a represents a unique opportunity of law blockchain so with with with after the first revolution of affordable smartphones now there are many payment and identity solutions that are in India so for example different payment wallet payment gateways that are like UPI that are in India right now and also with the implementation of other in the country we are looking at our we are looking at a payment revolution that is happening in the country and most of the public and private enterprises are looking at in from like digitalizing their infrastructure and blockchain is that everyone's radar currently so what we see is that blockchain is a growing market it's so going at a rate of about 58 percent every year and we are looking at it growing code like that for next five to six years and there are many government initiatives like the Smart City initiative which is happening in India which is thirty four billion dollar opportunity where they are looking for many blocked in solutions as well so apart from that apart from public and private enterprises there are about 120 more than 120 activist startups in India who are working in the smart contract and crypto space and they actually combined razor for more than 5 million last year itself in funding and when we talk about aetherium in madaba the Ethier because system etherium is one of the most popular cryptocurrencies in India itself it's the biggest search technology as well as currency in India more than 34 percent of all Google searches on blockchain and crypto are about etherium and also the blockchain is skill is highly in demand at the market the blockchain India is actually the second biggest country when it comes to the number of developers in blockchain they are about 20,000 people who claim to have blocked any skills and most of them actually proficient in solidarity Andy theorem for development and it's growing at a good rate with no these centralized projects and distributed teams it's becoming even more easier to hire and work with teams in India and it's a high paying job for the individuals as well so so there are multiple use cases that the private public consortium industries enterprises are looking at beginning from Bollywood which is looking at music streaming on and ownership of Records for artists as well as business type of businesses looking for trusted network governments looking for ego enhance voting storage of Records on blockchain in India and apart from that there are some big industries like health care education agriculture and finance which are about to be disrupted by blockchain so when we talk about blockchain the public enterprises are looking at from four main dimensions one for jobs capital management then there is jobs capital management then they are looking at it for as a strategic advantage to compete in the global market for block sure and also for helping with the skills and the human resources available in the country so one of the biggest use case that we see and consensus India has been actively working on it and many many state governments in India like de'longhi Andhra Pradesh Maharashtra even the same to government is exploring blockchain for Land Registry because there is a lot of potential to make that process more transparent so land record this one also biggest use cases that we see for buggy enterprises in India then storage of Education Records for having authentic certification available on blockchain is another big use case many states are looking at it and and also healthcare records the creating an ecosystem for historic agriculture which is one of the biggest industries in India it's a blockchain can ensure more transparency in the entire value chain of agriculture and all the stakeholders can get a fair shape with Gaussian implementation and then there are Enterprise Records licenses IP management which can be stored on blockchain and many governments are exploring that as well and and also for improving their own internal processes for voting we have got a lot of interest in ego ordinance on blockchain then apart from the public enterprises there are big consortiums are forming in India which are utilizing blockchain for example there is a 19 big insurance companies in India have come together to explore implementation of glossier 37 banks let which is led by State Bank of India are looking they have created a consortium called the Bank chain and they are looking at block chain solutions and the Indian trade connect insertion which is of 14 members they have actually worked on a loan facilitation through blockchain which was implemented and actually has for trade finance on top so there are many industry consortium led projects that are underway in the coming and a part of that consensus in India we have seen a lot of interest in the telecom sector many many of the big telecom companies service provider infrastructure provider have reached out to us for exploring use cases they're now tracking in flood prevention in IOT implementation of blockchain and apart from that as as I was mentioning before some of the big bollywood bollywood powerhouses as well as music streaming apps are looking at blockchain for ownership of rights as well as distribution of consumption of music we are gaining a lot of interest there as well so yeah even though block jainism everyone's regard everyone is looking at the technology to utilize for making processes more efficient the crypto regulations are India to embrace script of the technology it fully and but their exciting work being happening a lot of crypto community pushing for favorable regulation and steep the Supreme Court of India actually gave a timeline of forbidden this was like two weeks back to the Government of India to come up with intelligent policy framework for crypto and India's also looking at other developed economies like Suzy land and Japan to to come up with the best bosses for crypto and we see that there are more than a billion people who are yet to adopt cryptocurrencies in India so what I'll like to talk about is how consensus India is headed and what our vision what are the different use cases that we are working with I let my colleague Miyoung speak a bit more about what our initiatives are in the country no thanks for that current um let me talk to you about what's basically we have been doing in last one year what we have seen that an obvious thrust from the Prime Minister office in terms of adopting this technology embracing it so the advisor for primary which is caught underneath the eye of India they reached out to us we became the you know the technology adviser for them and we have taken the journey of implementing titling in India that was one of the first successful implementations which has on the way and most probably very soon we'll be releasing a public statement for the same but it's something which has shown that the government has appetite in terms of you know embracing these newer technologies and also part from you know the land titling project which is underway in one of the areas in the northern part of country but what we have seeing is that moving of these states at least five to six states have already reached out or are in a different stages of the implementation for the land titling projects across India apart from land titling last year when we started the journey we started back in May and when we launched our office and we had a education program which was the first project which we completed at at that time and it's something which we have very you know focused on in terms of because we know and understand that India has a huge tech population which is actively involved working with various service to creators are based on dia but doctrine being of one of the you know fastest growing technologies we felt the need that we have we have being you know in one of the forefront of the blockchain advisors probably we have to you know enable the Indian population in terms of emceeing the whole ecosystem so we came up with the fact that we have to start these annual education programs we are trying to do it clearly annually as the appetite of the you know the students over there and it has seemed to be like a very successful initiative in itself where we have started you know in terms of just shortlist we have to like shortlist more than 2,000 to 3,000 students to get a batch of 4050 students so that was something which has been for quite a while and there are two other things which we have been actively working on one was for the healthcare where we have started developing in-house product for both the insurance claim processing easing the whole process and as well as further electronic health record apart from that we have been doing consulting in advisory booth for the Government of India for portress authorities across India and also for the private place like you know but the tech product companies out of India who have reached out to us both in the supply chain finance sector Street finance examples so that's in natural what we have been doing and last one here and what we have intended out of this presentation that if any one of you guys looking forward in terms of any collaboration for the Indian market or probably we can help us in enabling those interactions over there thanks for listening and thanks for coming are there any questions hey guys thanks for a really great talk I kind of had a question really about how the central government and like look at blockchain so first what kind of remember and I could be wrong is I like over the summer like the central government blocked or like ban crypto trading and I also noticed in your in your in your talk you know you mostly talked about individual Indian states not really so much like what is the central government's involvement in blockchain and the second thing it kinda like tie that into it was like so as you guys know like you know there's a national elections coming up in May and the impression I've gotten over the past twenty thirty years is that you know in the case that the NDA coalition loses right and you get like I assume something else there does seem to appear at least to mean yeah like there's like a lot of loss of progress like you know a new government comes in and they're just like we're gonna do what we want to do like irrespective of what the previous people were doing or you know there's and then they fight over like why'd you guys drop this oh you guys were corrupt here blah blah blah right so it's kind of wondering like what what's your guys's perspective and how you see do you guys have any concerns about like the central government in terms of blocking in terms of crypto in terms of whether or not for example like in the u.s. they might might kind of get confused between like the concept of cryptocurrencies first as a concept of blockchain right okay first I would like to clarify it's true that last year government has banned the entire crypto space over there but with the least recent you know directive from supreme court of india we feel that it's not very strongly linked just with the government as of now because when we were working with the prime minister office it's definitely the central government which is involved and they are the advocators who are actually handling all these different states in terms of enabling them to understand was technology in terms of what's the power of this technology and how it can be best utilized for an indian sub-continent kind of a geo so it's not that it is very much centric two states but what is happening is that because all these developments are happening more in the pilot stages or in different smaller municipalities which there are no nationwide adoption which might make it look like that you know that there seems to be some discovery in the states in central but in actuality the things are driven from the center and states are adopting it in a sequential manner and in terms of in case there is a common change we feel that particularly if it is a common change already Supreme Court is involved we have seen lot of that technology lobbyists you know forming these focus groups there are a lot of people who are trying to regulate the whole ecosystem so I don't think they'll be able to know so many people were actually got involved in all this and there are actually clear positive outcomes of adopting it so we feel that like many other countries which have phased that design off first they ignore you then they ban you and then they regulate you so most probably we are heading to the third step of getting regulated I hope that answers hey what I understood from your it's happening I think the one fact which Curran has covered in the presentation that all of the recent researches which happen and if you see that they have ranked Indian developer community as the second largest community out there in the block piece that in itself tells the fact that there's a huge community attraction which is already humming not only just with these numbers but the number of courses out there number people who are taking these trainings in itself with the testament that there's a lot of community traction happening and based out of Bangalore and I haven't seen a week which is like there is no meetup or no you know groups which are getting together to come up or discuss these new advantage or advances which are happening in this space so bottom up is more exciting computer top-down but top down is something which is actually impacting the whole Lourdes ecosystem in terms of how it regulates itself so that's why probably we didn't cover so much from the bottom approach but bottom up is rosier Pitzer compares to top-down no thank you okay thank you [Applause]