WBS highlights multiple plus points of adopting the blockchain technology and paves the way for a paradigm shift...

Mumbai: Over 300 professionals from IT field recently assembled in the internationally-acclaimed global technology event series, World Blockchain Summit (WBS). The event has added yet another feather to the international business event organiser, Trescon.

While the Indian industry is passing through a state of confusion regarding adoption of the blockchain technology, the summit has vividly focused on some not-so-well-lit areas of blockchain application.

The presence of international players in the summit widened the scope of exposure and allowed the participants get fresh ideas, which have already been verified/accepted in other countries.

Another important aspect of the blockchain technology session was that it clearly communicated that mining bitcoins is just a part of the technology, however, the scope of blockchain technology is much wider.

The brain storming session organised with the support of the Government of Maharashtra, turned out to be a goldmine of knowledge for blockchain enthusiasts, as several field experts delivered their deep experience and unfathomed understanding to show how nations can benefit from the revolutionary technology.

While delivering her keynote speech, highlighting the importance of the regulatory environment of blockchain in India, N S Nappinai, Advocate and Cyber Law Expert, Nappinai & Co., Advocates, said,

“For any innovation, you need to come to a tipping point where it has grown exponentially and organically. However, for it to grow further, one of the differentiators could be law as an enabler.”

Dilip Krishnaswamy, Vice President, Reliance Jio Infocomm; N Rajendran, CTO of National Payments Corporation of India; Vivekdeep Gupta, Country head, R3; Paritosh Basu, Senior Professor, The NMIMS University School of Business Management; Sharat Chandra, President of Government Blockchain Association,

India Chapter and Jaideep Reddy, Leader, Nishit Desai Associates among others, addressed the summit on key areas such as the ‘legal and regulatory landscape of blockchain in India’, ‘adoption challenges of blockchain for enterprises and its impact on the BFSI sector and real-world industry use cases of Blockchain that can transform governance and Indian industry verticals.

The summit hosted a few stalls that demonstrated the successful applications of the blockchain technology in different industries. One of the stall representatives from Refine Medium, a blockchain-based media platform, said,

“We decided to attend World Blockchain Summit to hear industry leaders share their views about the blockchain space. There is a significant advantage that can be gained from using platforms such as World Blockchain Summit for outreach. The summit has enabled us to get access to our immediate market, which has active people in the blockchain space.”

The summit also partnered with some top regional and international investors that included Artha Venture Fund, Chance River (USA), Anthill Ventures, Unicorn India Ventures, Kalaari Capital and Nexus Venture Partners.

‘LetsEndorse’, a digital collaborative ecosystem that engages in co-creating problem-solving, holistic and high-impact social projects, triumphed the Startup Grand Slam Pitch Competition, a fund-raising platform where companies get to pitch in front of global investors including VCs, angel investors and key government authorities, to launch or expand their businesses.

There were some other sponsors and exhibitors of the summit including Kanerika, Osiz Technologies Private Limited, Alo Agri Tech Pvt. Ltd, LetsEndorse and TrustWorks.

By P K Chatterjee

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