JK Business School conducted its third annual Conclave 3.0 on a very controversial and thought-provoking topic ‘Blockchain– Solution looking for Problem’. The convention hall was full with an extremely informed and enthusiastic audience with a free flow exchange of acute and obtuse ideas. Dr. Sanjiv Marwah, Director JKBS, opened the topic with the basic premise “What blocks a human chain of thoughts- ‘change’. Prognosticators and Skeptics viewed internet a few decades as a’ Bubble’- least realizing that it entered in our lives and livelihood for good. Blockchain will also help eliminate a sensitive factor of Dis(trust), so rampant in our business these days.
Mr. Mohit Mammoria set the stage on fire by evolving controversial issues related to Blockchain and giving his views in a very disarming and lucid style. Blockchain, he opined will bring a new level of enhanced trust to business and should be interpreted as a ‘game changer technique’, a trusted distribution ledger, putting it across simply, in a group of disparate participants.
Mr. Gaurav Shina, Manager Partner, Data & Analytics Services, moderated the discussion amongst the panelists who were a select lot of users, developers, and experts in Blockchain.
Mr. Atul Tripathi, Consultant, Govt. of India, opined that the Govt. is watching this technological development with great interest. Its usability in the fields of Land deals, Voters details and Healthcare is being well examined.
The multiple selling of plots a common malady in the property business will get well arrested, as the records will be digitalized and well secured.
Mr. Varun Sethi, an expert on the subject, shared that a report from Price Cooper Water House revealed that almost 56% of Indian businesses are inclined, and as Mr. Atul said, ’India may be the path breakers in the world’, in this field.
Mr. Vishal Sehgal, MD Nishay Educorp was emphatic that Blockchain should not be seen as a theory. It has sprouted new career opportunities, and if clubbed with Machine Learning. Artificial Intelligence and Big Data Analytics, it would give birth to a new stream of Knowledge.
The anchor, Mr. Gaurav, while accepting this fact added that investing in human capital is the key mechanism to ensure that the next generation is ready for changing the nature of work.
Mr. Ankur, CEO of Vardan Services went further and said that innovation is also a friend of entrepreneurs. Ms. Monica Dhawan, Founder member and Director of Fusion CorporateSolutions, supported the views and added that with the ubiquitous presence of internet in the country, it will provide new economic opportunities to small businesses to work with employers sitting thousands of miles away, eliminating the inevitable middlemen, thereby reducing the price on goods and services.
Mr. Gaurav prompted a euphoric dialogue a word of caution, that for all the promises of Blockchain, there are real questions about whether it may be applied to solve problems that don’t exist. Hence the relevance of the theme ‘Blockchain- Solution looking for a problem’ one may simply prefer a centralized database to Blockchain.
Mr. Kuber, a serious investor in the product of Blockchain, the Cryptocurrency, Bitcoin, acquainted the audience on the issues related to investment which evinced a lot of interest in prospective investors, skeptical about the existence of this new concept
The session ended on lighter vein aptly summed up by Dr. Ajay Mehta, Prof HR at JKBS, that the proceedings of the evening went to prove that there were no ‘blocks to flow of ideas and thoughts’ to the Blockchain concept. He added to what Dr. Marwah initiated the issue of ‘Change’, that the world is moving ahead with new changes. There is ’Data Overload’ in the environment and it has to be tapped and channelized for the betterment of people and the world diasporas on the whole.