Blockchain Squawk was held at Hotel Hindustan International in Kolkata on December 10. The conference featured blockchain industry visionaries who spoke on how to break new ground with this technology.
The event began with the felicitation of Guest Speaker Cornerstone Team by S. Mallick. Followed by a talk by guest speaker, Jorg Molt, who is a crypto specialist and founder of Satoshi School. Another guest speaker, Jaspreet Bindra. a renowned expert in digital transformation and blockchain, who has 22 years of experience in technology strategy shared his experience about the upcoming blockchain technology.
The conference highlighted the factors that play an important role in the operations of cryptocurrency exchanges in India. Speaking on this, the COO of National Multi Crypto Currency Exchange (NMCCX) J. B. Ram stated, “There has to be a central agency who gives approval to it. As the things come in we expect SEBI to step in because RBI has already ruled out that cryptocurrency is not a currency; it is not a means of finance, but a commodity.” As SEBI is the regulator of the commodity, it is likely to come up with the ways of regulating cryptocurrency.
He further mentioned there are six risk factors a person or investor encounters, but those can be minimized through regulatory approvals, infrastructure gaps, insurance, technology, comprehensive risk management and education.
Following the briefing, there were few queries addressed by National Sales Head of NMCCX Ashutosh Mishra who spoke about the traditional business model, registration and workability of the crypto exchange. “In terms of preserving the personal details of our investors and traders and their digital assets with wallets, NMCCX is extremely cautious and secure,” he stated.
“We make use of the most advanced technology to protect our user-data and transaction details.”
Blockchain Squawk also discussed the advancement, early adoption of this technology, and the revolutionary changes it can bring with proper implementation. With regards to this, Ajoy Pathak explained, “Technology adoption is fast, quick, driven but also has exhibited considerably steep entry barrier in the initial phase.”
“But, once crossed, this advantage would result in exponential first mover benefits as the subsequent layers of adoption would be larger in numbers,” the Research & Training Head at NMCCX said, “adding value to the whole system hitting the inflection points with progressive adoption influxes.”
The conference was able to bring positive notes of the upcoming and updating blockchain technology with the varied lists of use cases and the implementations across many spectra.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]