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Interviews

<p>Amidst the growing interest in diverse investment avenues among the Indian populace, a subset of individuals remains intrigued by optimizing their investment strategies. With an abundance of investment options available, many are exploring multi-asset trading as a means to diversify their investment portfolios.</p>

<p>Shoonya, a multi-asset trading platform developed by Finvasia, has taken proactive steps to introduce novel opportunities for investors, aiming to maximize their returns. One notable approach has been the incorporation of 'smart trading' technology powered by artificial intelligence.</p>

<p>Additionally, Shoonya has revolutionised the investment landscape by offering 'Zero-fee' trading, thereby minimizing costs for investors. This initiative by Shoonya not only opens doors to diversified investment portfolios but also underscores their commitment to empowering investors with cutting-edge tools while minimizing financial barriers.</p>

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<p>Web3cafe had the exclusive opportunity to sit down with the founders of Shoonya, Sarvjeet Virk (MD) and Tajinder Virk (CEO), ex-Wall Street professionals and visionaries behind this innovative venture. The heart of their disruption lies in the claim of being a 'True Zero Trading Platform,' eliminating brokerage fees, clearing charges, account opening fees, and AMC fees. But what technological innovations make this bold claim a reality?&nbsp;</p>

<blockquote class="at-quotes">
<p>Could you explain the technology behind Shoonya's claim of being a 'True Zero Trading Platform'? What specific technological innovations have allowed you to offer zero brokerage, zero clearing, zero account opening, and zero AMC fees?</p>
</blockquote>

<p>Shoonya is transforming how people trade in India. Since the inception of Shoonya, we have focused on providing traders with low-cost solutions by deploying advanced technologies and democratising trading to encourage more people to participate in the capital markets. Leading the disruption in the Indian trading landscape with our Zero Commission trading model, we have generated a positive impact for investors with customer experience at the core of our operations.</p>

<p>Our Zero-Commission model eliminates brokerage fees across a multitude of services from opening an account to even doing away with clearing charges. Our platform has no hidden costs as well l which otherwise negatively impact the profitability of traders or investors. Cumulatively there are 16 services for which we have ‘zero charges’ when benchmarked against our competitors, which makes us a ‘true zero trading’ platform.</p>

<p>It has enabled us to make investing easy and affordable for everyone, regardless of their level of experience or to the amount in which they wish to invest. Our unique approach has not only brought in a lot of users but has also given many people the confidence to join the financial markets, making trading accessible to more people than ever before. We've been pioneers in technology by introducing the first AI-powered analytical tool in the industry and addressing major customer pain points.</p>

<p>The trading tools help traders save time spent on research and make smart trading decisions as they can predict market movements and improve their portfolio's performance. This tool helps traders manage risks and exposures, understand market volatility, and optimise the balance between risk and reward for effective strategies, saving them valuable research time.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/interviews/story/rohit-goyal-interview-in-buidl4web3-event-held-at-bengaluru-722538-2023-12-07">"I firmly believe in building in India,” says Mudrex's Rohit Goyal at BUIDL for Web3 in Bengaluru | Interview</a></li>
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<blockquote class="at-quotes">
<p>The AI-powered trading platform at Shoonya has achieved an impressive average accuracy rate in market trend predictions. Can you provide insights into the technology and algorithms that power these predictions? What data sources and machine learning techniques are involved?</p>
</blockquote>

<p>Shoonya has achieved an impressive accuracy rate in market trend analysis based on signals on the back of the 'I Know First' algorithm. The algorithm's core technology relies on artificial intelligence and machine learning, integrating components from artificial neural networks and genetic algorithms. It empowers us to scrutinise, simulate, and forecast stock market behaviour.</p>

<p>Notably, this algorithm is flexible and can grow with demand, boasting a Decision Support System (DSS) to enhance the insights derived from years of data input. This algorithm produces daily forecasts for various financial assets, including stocks, commodities, ETFs, interest rates, currencies, and global indices. It provides signals for various time frames, spanning short, medium, and long-term horizons.</p>

<blockquote class="at-quotes">
<p>With the association with I Know First, how does the integration of their technology enhance the decision-making capabilities of traders on Shoonya's platform? Are there any unique features or tools that result from this collaboration?</p>
</blockquote>

<p>Shoonya is committed to advancing the Indian trading landscape through its innovative and user-friendly trading platform. The association with 'I Know First' aligns perfectly with our strategy to ensure a seamless trading experience for our users. This partnership aims to assist Shoonya’s customers in optimising their portfolio performance and making informed investment decisions.</p>

<p>The AI-powered insights are derived from predictive analysis of 1,500 Indian stocks, built upon extensive historical research. Features like AI-generated Colour-Coded Signals, Instant Heatmaps, Wave Trend Prediction, and Performance Signals open the doors to sophisticated market analysis for modern traders and investors. Traditionally, only institutional investors, hedge funds or extremely seasoned professionals with ample resources had access to such in-depth insights.</p>

<p>However, AI-driven tools like I Know First are simplifying access to predictive analysis and data-backed insights, thereby enhancing trading strategies and improving their success rates.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/interviews/story/how-blockchain-is-transforming-the-technological-infrastructure-in-india-and-its-future-impact-624222-2023-08-01">The future of blockchain in India and its impact on the technological ecosystem | Interveiw</a></li>
</ul>

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<blockquote class="at-quotes">
<p>In terms of technology and scalability, what market potential is Shoonya aiming for in the coming years, especially looking ahead to 2024? Are there any technological advancements or product developments in the pipeline to achieve these goals?</p>
</blockquote>

<p>&nbsp;</p>
</div>
</div>

<p>As of September 2023, India boasts an impressive 120 crore internet users, 8 crore stock market investors and 3.5 crore mutual fund investors. All&nbsp;internet users are our potential customers because if people are using e-commerce platforms, then they can carry out transactions on a tech platform/app and are eligible to be an investor.</p>

<p>So, we will focus a lot of our energies on the New to Trading (NTT) segment while we continue to direct our efforts toward individuals from beginners and passive investors to active traders, day traders, and long-term investors. Our Zero Commission approach, combined with our customer-centric philosophy, is democratising investment access, enabling people of all backgrounds to engage in the financial markets confidently.</p>

<p>Technologies like AI and ML are the driving forces behind the growth of the Indian stock market, and we play a pivotal role in facilitating this growth through our technological advancements.</p>


Shoonya pioneers a 'True Zero Trading Platform' in India, revolutionising investing with no brokerage fees, making it accessible and affordable for all.

Shoonya by Finvasia offers trading

The venture was founded in 2013

Sarvjeet Virk and Tajinder Virk co-founded the fintech platform 

Zero hurdles, all gains: Shoonya's revolutionary approach to trading in India | Interview

Shoonya's revolutionary approach to trading

Web3

<p>Amidst the buzz surrounding the transformative potential of Web3, the BUIDL for Web3 event held in Bengaluru on Monday, 4 December 2023, brought together industry leaders and enthusiasts to delve into the intricacies of decentralised finance (DeFi), Distributed ledger technology (DLT), Non-fungible tokens (NFTs), Decentralised autonomous organisations (DAOs), the metaverse, and Web3 gaming.</p>

<p>Rohit Goyal, Co-Founder of Mudrex &amp; Jediswap, prominent players in the decentralised financial (DeFi) space, led an insightful conversation with Web3Cafe where the discussion explored the transformative potential of DeFi in shaping a more inclusive and equitable financial system.</p>

<h3>Addressing economic challenges through DeFi</h3>

<p>Goyal highlighted DeFi's remarkable potential in tackling the economic challenges faced by countries. For example Argentina, where inflation rates have spiralled to a staggering 100 percent annually. He emphasised DeFi's role in empowering individuals to achieve financial independence by decoupling from centralised authorities. Bitcoin, for instance, serves as an alternative global currency, offering a hedge against rampant inflation.</p>

<blockquote class="at-quotes">
<p>With DeFi, you are not confined to the boundaries of a particular nation. Everyone can access Ethereum, Bitcoin, or even USD-backed stablecoins. Perhaps in the future, we will have an INR-based stablecoin, providing even greater accessibility. So, DeFi grants you access to a wider range of options, allowing you to choose what best suits your needs.</p>

<div class="author">Rohit Goyal, Co-Founder, Mudrex &amp; JediSwap</div>
</blockquote>

<p>He drew attention to the limitations faced by individuals in certain geographies, such as Argentina, where accessing traditional financial services can be challenging. DeFi opens doors to a range of options, including stablecoins like USD, Ethereum, and Bitcoin, providing individuals with greater control over their finances.</p>

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<h3>Navigating the role of governments and regulations</h3>

<p>The conversation then delved into the role of governments and regulatory bodies in ensuring responsible innovation and safeguarding consumer interests in emerging technologies like blockchain and web3. Goyal acknowledged the need for regulations where decisions impacting end-users are involved, citing examples like centralised exchanges where user funds are entrusted to specific entities.</p>

<blockquote class="at-quotes">
<p>The unique aspect of DeFi is that there are elements where no single entity holds power. When no one has control, it becomes challenging to pinpoint responsibility. Conversely, there are instances where certain entities do wield power. For example, in a centralized exchange scenario, some individuals possess authority. When you deposit your funds with a company that has stakeholders, regulations become essential.</p>

<div class="author">Rohit Goyal, Co-Founder, Mudrex &amp; JediSwap</div>
</blockquote>

<p>The decentralised nature of certain technologies like Ethereum demands a nuanced approach to regulation. In such instances, where centralised control is absent, traditional regulatory frameworks may not be directly applicable.</p>

<h3>Aligning technological progress with human values</h3>

<p>When asked about aligning technological progress with human values, Goyal proposed a framework similar to traditional banking regulations. He emphasised the need for clear guidelines that ensure entities holding customer funds adhere to ethical practices and prevent misuse or unauthorised investments.</p>

<h3>Championing long-term thinking in crypto</h3>

<p>Shifting gears, the conversation touched upon the crypto market's resurgence, with Goyal cautioning against an overemphasis on short-term price fluctuations. He stressed the importance of educating users about the underlying technology's value proposition, encouraging a long-term investment mindset.</p>

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<p>"Education is paramount in fostering long-term thinking," Goyal emphasised. He suggested shifting the focus from day-to-day price movements to understanding the transformative potential of DeFi in reshaping the financial landscape.</p>

<h3>Addressing crypto adoption in India</h3>

<p>Addressing the challenge of crypto adoption in India, Goyal emphasised the need for simplified education, breaking down complex concepts into easy-to-understand terms. He also advocated for promoting a shift towards long-term thinking, suggesting the creation of investment products that align with users' financial goals.</p>

<h3>Leveraging India's potential</h3>

<p>In response to questions about the potential shift to foreign markets due to regulatory challenges in India, Goyal expressed,</p>

<blockquote class="at-quotes">
<p>I firmly believe in building in India. Why would I venture elsewhere? We possess the finest talent, and I am confident that we are not lagging in any way. While the Indian government may not be performing flawlessly, it is certainly not doing the worst job either. If we can effectively demonstrate to our leaders how DeFi can revolutionise India's trajectory and propel it to the top of the global rankings, they will undoubtedly lend their support. Moreover, we have access to the best talent, and I would rather nurture it here than seek it elsewhere.</p>

<div class="author">Rohit Goyal, Co-Founder, Mudrex &amp; JediSwap</div>
</blockquote>

<p>He emphasised leveraging India's talented workforce and encouraged an open-market approach, letting competition drive innovation.</p>

<h3>Making crypto accessible to the masses</h3>

<p>Regarding the affordability of cryptocurrencies for the middle class in India, Goyal clarified that understanding the divisible nature of assets like Bitcoin is crucial. He urged educating the population that one doesn't need to invest in whole units but can start with small amounts, making crypto more accessible to a broader audience.</p>

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<h3>A commitment to building India's crypto ecosystem</h3>

<p>Goyal expressed a firm commitment to building and growing the crypto ecosystem in India, underscoring the nation's immense potential and the role of education in fostering widespread adoption.</p>

<p>The interview provided valuable insights into the challenges and opportunities shaping the future of decentralised finance and cryptocurrency in India. As DeFi continues to evolve, its transformative impact on financial inclusion and global economic equity is poised to grow ever more significant.</p>


Rohit Goyal, Co-founder of Mudrex & Jediswap, discusses the transformative potential of DeFi in shaping a more inclusive and equitable financial system, addressing inflation, regulations, and promoting long-term thinking in the crypto market.


DeFi empowers individuals to achieve financial independence by decoupling from centralised authorities

Governments and regulators need to play a role in ensuring responsible innovation and safeguarding consumer interests

Education is paramount in fostering long-term thinking and promoting widespread adoption of DeFi in India

"I firmly believe in building in India,” says Mudrex's Rohit Goyal at BUIDL for Web3 in Bengaluru | Interview

"I firmly believe in building in India,” says Mudrex's Rohit Goyal

<p>In a remarkable advancement within India's AI sphere, Tech Mahindra has officially unveiled <a href="https://www.web3cafe.in/artificial-intelligence/story/tech-mahindra-unveils-indias-very-first-native-ai-chatbot-indic-llm-674889-2023-09-08">'Project Indus,</a>' the nation's first-ever Large Language Model (LLM) with a primary focus on Hindi and its diverse array of dialects.</p>

<p>Spearheading this ambitious endeavour is <a href="https://twitter.com/nickmalhotra?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">Nikhil Malhotra</a>, the Chief Innovation Officer and the Global Head of Maker's Lab, a unique incubation space within Tech Mahindra. With over two decades of experience in the field, Nikhil also holds the prestigious title of World Economic Forum AI Fellow, where he dedicates his expertise to advancing responsible AI and Quantum ethics.</p>

<p>We got in touch with the man himself and tried to get some insights on the first-ever indic-based foundational model.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Nikhil Malhotra, our Chief Innovation Officer, and Global Head of Makers Lab at <a href="https://twitter.com/tech_mahindra?ref_src=twsrc%5Etfw">@Tech_Mahindra</a> shares his vision for quantum and how other transformational technologies will inspire the growth of AI in the coming years in his latest interview with IEEE TEMS.<br />
<br />
Watch the full… <a href="https://t.co/W7Y1MwNkLN">pic.twitter.com/W7Y1MwNkLN</a></p>
— Tech Mahindra (@tech_mahindra) <a href="https://twitter.com/tech_mahindra/status/1701149034105450806?ref_src=twsrc%5Etfw">September 11, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h3>Addressing the Language Gap</h3>

<p>Project Indus, as described by Nikhil Malhotra, is a civilisation initiative tailored for India. The project's dual objectives are clear: firstly, to construct a language model deeply rooted in Indian culture and secondly, to excel in prevailing benchmarks.</p>

<p>The team is currently considering parameters ranging from 7 to 14 billion, with the potential to extend to 40 billion if necessary. These parameters are crucial for the model's versatility and ability to cater to India's linguistic diversity, as highlighted by Nikhil Malhotra, Chief Innovation Officer of Tech Mahindra.</p>

<p>In essence, this pioneering effort aims to bridge the massive language gap that persists in India, where only 10-20 percent of the population converses in English.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/story/tech-mahindra-unveils-indias-very-first-native-ai-chatbot-indic-llm-674889-2023-09-08">Tech Mahindra's Project Indus: A cultural odyssey to preserve &amp; empower India's diverse languages through AI</a></li>
</ul>

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<h3>Unlocking opportunities with Indic LLM</h3>

<p>The choice of the Indic LLM model is not coincidental. While Language Models (LLMs) have predominantly favoured languages like English, German, French, and Spanish, India's linguistic diversity often goes unnoticed. Hindi, being the third most spoken language worldwide, has been Tech Mahindra's initial focus.</p>

<p>However, the project's ultimate goal is to expand to other languages and dialects. This strategic decision could democratise technology and extend its reach to the last mile.</p>

<h3>Advantages of the Indic LLM model</h3>

<p>The advantages associated with the Indic LLM model are numerous. It promises to be culturally sensitive, aligning with local customs and norms, while also democratising AI for non-English speakers in India. Moreover, its versatility makes it invaluable for specialised industries like healthcare, retail, and tourism. Importantly, it offers a cost-effective solution for generating content in Indic languages.</p>

<h3>Data collection for diverse dialects</h3>

<p>Collecting data for Project Indus' extensive dialects has been a challenge. The initiative "Bhasha Daan" encourages individuals to contribute data in their native languages. The data sets are sourced from various platforms, including Common Crawl, incorporating content from various sources like newspapers, Wikis, and domain-specific sources.</p>

<p>This diverse dataset ensures that the model is trained on a wide range of data types, enhancing its performance.</p>

<blockquote class="at-quotes">
<p>However, obtaining dialect-specific data poses a significant challenge because most websites predominantly offer content in mainstream languages.</p>

<div class="author">Nikhil Malhotara, Global Head at Maker's Lab</div>
</blockquote>

<h3>Addressing inaccuracies &amp; bias</h3>

<p>Project Indus has a two-pronged approach to address inaccuracies and bias. It contextualises data and establishes guidelines for accurate and appropriate responses. Fact-checking measures are in place, along with a reinforcement learning feedback loop involving users to improve responses.</p>

<p>To mitigate bias, data cleaning is conducted during the initial collection phase, using a combination of human annotation and automated techniques.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/story/ai-skilled-india-tech-mahindra-trains-8000-employees-with-ai-skills-627784-2023-08-07">AI skilled India: Tech Mahindra trains 8,000 employees with AI skills for future demands</a></li>
</ul>

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<h3>AI as a Job creator</h3>

<p>Regarding concerns about AI's impact on jobs, Nikhil Malhotra believes that AI can create more job opportunities than it eliminates. As technology integrates into various sectors, new opportunities requiring new skill sets will emerge, leading to a more dynamic job market.</p>

<blockquote class="at-quotes">
<p>I believe that AI can create more job opportunities rather than eliminating them. With technology becoming a vital part of everything, it can lead to numerous new opportunities requiring new skill sets.</p>

<div class="author">Nikhil Malhotara, Global Head at Maker's Lab</div>
</blockquote>

<p>Project Indus&nbsp;stands as a pioneering initiative that promises to reshape the AI landscape in India. With a strong focus on linguistic diversity and responsible AI, Tech Mahindra is charting a course toward a more inclusive and technologically advanced future for the nation.</p>


Tech Mahindra's 'Project Indus' pioneers India's Indic LLM, with insights from Nikhil Malhotra, Global Head at Maker's Lab, emphasising responsible AI and bias mitigation.


‘Project Indus' pioneers India's Hindi-focused LLM, democratising tech for non-English speakers

This story features an exclusive interview with Nikhil Malhotra, the Chief Innovation Officer of Tech Mahindra, who shares insights into Project Indus, its significance, and responsible AI practices

Project Indus employs a strong strategy, including a feedback loop and data cleansing, to ensure ethical AI with minimal bias and inaccuracies

Tech Mahindra unveils 'Project Indus' Indic-based LLM

India’s homegrown AI: Tech Mahindra's 'Project Indus' could bridge the language gap that plagues ChatGPT | Interview 

India’s homegrown answer to ChatGPT, 'Project Indus'

<p>Blockchain-based social network platforms are on the rise, offering users greater control over their data and interactions. These platforms use decentralised technology to provide enhanced security, privacy, and transparency. Users can own their data, transactions are immutable, and content moderation is often community-driven. One such platform which is gaining momentum in the recent times is ‘Cardano Spot’.</p>

<p>Now dive into the heart of the blockchain revolution as we delve into the transformative capabilities of Cardano Spot, which is Cardano enthusiasts-focused social network serving end-to-end information for the Cardano community.</p>

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<p>In this featured article, we explore the groundbreaking technology, projects, and opportunities driving the future of decentralised finance on the Cardano network. Further, we will look into how Cardano Spot is shaping the landscape of crypto ecosystem and decentralised applications, thereby, paving the way for a more inclusive and efficient financial ecosystem.</p>

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<p>To begin with, let us first understand what the project ‘Cardano Spot’ is all about. EMURGO, the official commercial arm and a founding member of the Cardano blockchain has unveiled a series of innovative features on its social network, Cardano Spot.</p>

<p>The platform, founded and developed with direct input from the Cardano community, aims to address fragmentation within the Cardano ecosystem, provide a 360-degree view, and foster enhanced community interaction, as per the official website.</p>

<h3>Some of the key features of Cardano Spot:</h3>

<h4>Community Hub:</h4>

<p>Tailored homepages for users, fostering content creation, connections, and the discovery of like-minded communities.</p>

<h4>News Feed:</h4>

<p>A go-to source for the latest Cardano ecosystem updates, featuring educational content, articles, and videos to enhance your understanding.</p>

<h4>Project Library:</h4>

<p>A comprehensive collection spotlighting Cardano Blockchain projects, complete with explanations, whitepapers, introductory videos, and essential research links.</p>

<h4>Events Calendar:</h4>

<p>A centralised calendar displaying Cardano-related events, including webinars, discussions, product launches, and more.</p>

<h4>Market Status:</h4>

<p>Real-time insights into native token prices, market trends, and tokenomics, keep you informed about the financial aspects of the Cardano ecosystem.</p>

<h4>Cardano Spot: Your go-to destination for staying informed in the blockchain era</h4>

<p>Sebastian Zilliacus, Managing Director of Cardano Spot and EMURGO Media, when speaking to Web3 Café, on what led to the creation of Cardano Spot and its unique value proposition in the crypto ecosystem, opined that the inevitable expansion of blockchain technology has introduced some complexities for the community so as to stay abreast of developments and remain connected.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/interviews/story/interview-with-anil-chawla-verint-on-how-multi-cloud-technology-is-driving-blockchain-tech-impacting-businesses-602374-2023-06-22">How is multi-cloud technology driving blockchain tech &amp; impacting businesses?</a></li>
</ul>

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<p>Addressing this issue, Cardano Spot bridges the informational divide and misinformation within the Cardano ecosystem and its community. He continued to say that through a freely accessible portal, the social network aims to facilitate Cardano enthusiasts with up-to-date insights.</p>

<blockquote class="at-quotes">
<p>The overarching objective of Cardano Spot is to establish itself as the primary hub catering to all things Cardano, appealing to a diverse audience, including developers, investors, traders, entrepreneurs, newcomers, and even the simply inquisitive.</p>

<div class="author">Sebastian Zilliacus, Managing Director of Cardano Spot and EMURGO Media</div>
</blockquote>

<p>&nbsp;</p>

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<p>Some of the most innovative projects currently listed on Cardano Spot include World Mobile, BOOK.io, SingularityNET and JPG.Store, among others, cites Zilliacus. For instance, BOOK.io transforms how we purchase, read, and sell books and audiobooks by using decentralised technology. It’s also known as a Web3 e-book store. It’s a multi-chain project and is available on Cardano, Ethereum, Polygon, etc., states the MD.</p>

<p>He further added, JPG.Store is one of the largest marketplaces to mint, buy, and sell Cardano-based Non-fungible Tokens (CNFTs). The emerging NFT platform empowers artists, builders, and community-focused collections to offer sustainable use cases on the Cardano blockchain.</p>

<h3>Cardano Spot fosters connections among Cardano users</h3>

<p>Cardano-based developers can leverage this platform to onboard new and existing community members to test, use and provide feedback on their products. The pioneering social network supports Cardano enthusiasts, delivering comprehensive information to and about the Cardano community.</p>

<blockquote class="at-quotes">
<p>Tailored to user needs, it presents an interactive, user-generated platform that encompasses all aspects of Cardano, from investment and distribution to consumption and content monetisation. Through our Cardano-native research and journalistic team, we provide the latest information for our users as well as curating valuable and reliable information from various sources within the Cardano ecosystem, effectively addressing the challenge of fragmented information. Aggregation ensures the provision of current updates on developments within the Cardano ecosystem.</p>

<div class="author">Sebastian Zilliacus, Managing Director of Cardano Spot and EMURGO Media</div>
</blockquote>

<p>&nbsp;</p>

<p>Zilliacus further mentioned that this platform fosters connections by organising live streams and X Spaces with entrepreneurs where community members ask questions directly. Meanwhile, the project library brings vetted early-stage and established projects for our users to connect with, providing trust and transparency in the Cardano ecosystem.</p>

<h3>Navigating the DeFi wave: Cardano Spot's mission to educate</h3>

<p>The EMURGO Media MD says, “In Cardano, DeFi has just begun and opportunities such as self-custodial asset management, decentralisation of the fintech ecosystem, beating inflation through on-chain yield farming, hassle-free and real-time cross-border payments by using stablecoins, tokenisation of the real estate industry, etc. Hence, the DeFi segment gives existing and/or new entrepreneurs/developers various possibilities to establish themselves, therefore it becomes vital to educate them about DeFi.”</p>

<blockquote class="at-quotes">
<p>Cardano decentralised finance (DeFi) has grown three-fold this year, and Cardano Spot has been closely covering these developments. At Cardano Spot, our in-house on-chain researchers release quarterly DeFi Reports and hold educational activities in collaboration with the top DEXs and protocols. DeFi protocols provide users with the liberty to lend, borrow, and stake their assets without intermediaries.</p>

<div class="author">Sebastian Zilliacus, Managing Director of Cardano Spot and EMURGO Media</div>
</blockquote>

<p>He further mentions that Cardano is growing rapidly and with a global community, access to the latest information is crucial, our responsibility and value proposition is to disseminate and educate the community on the latest developments on Cardano and enable them to sail through such difficulties.</p>

<h3>Nurturing &amp; empowering the Cardano community &amp; recognising contributions</h3>

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<p>Cardano Spot is more than just a platform; it's the Cardano community's voice. We prioritise inclusivity through our diverse Twitter Spaces, where anyone can share their thoughts, opines Sebastian Zilliacus. He continues to say that the project delves into Catalyst Fund proposals and hosts specialised spaces with various projects to ensure their visibility and clarity within the community. An example of feedback from influential community members has proven that Cardano Spot contributes to building a sense of belonging within the Cardano community, states the MD.</p>

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<h3>Empowering users in the transition to web3</h3>

<p>Speaking on how users have benefited from being a part of the Cardano Spot community and utilising the platform's resources, the Managing Director states that our users highly value our dual role in advancing the adoption of web3 technology and assisting those who may find the transition from web2 challenging.</p>

<blockquote class="at-quotes">
<p>Our platform serves as a valuable resource, a sentiment expressed through positive comments and user feedback, allowing users to ask questions about web3 in the Community Hub, access informative articles in the News Feed, track market status, and explore upcoming Cardano events. Through these efforts, we strive to create an environment that fosters understanding and empowers individuals to navigate the complexities of web3. The positive comments from users reinforce our commitment to facilitating a smooth transition to web3 and providing valuable insights to the community.</p>

<div class="author">Sebastian Zilliacus, Managing Director of Cardano Spot and EMURGO Media</div>
</blockquote>

<p>He further revealed&nbsp;that the community members have been directly awarded by contributing to the Cardano ecosystem through Cardano Spot, whether that is through knowledge or time. This Cardano enthusiasts-focused social network will continue to work and award community members across the world.</p>


Sebastian Zilliacus talks about Cardano Spot and its unique value proposition in the crypto ecosystem by delivering comprehensive information to and about the Cardano community. 

Cardano Spot serves as a social network for Cardano enthusiasts

Some of the most innovative projects like World Mobile, and BOOK.io are currently listed on Cardano Spot 

An interview with Sebastian Zilliacus, MD of Cardano Spot and EMURGO Media

Unlocking the potential blockchain: Exploring the innovative world of 'Cardano Spot' | INTERVIEW

Exploring the innovative world of 'Cardano Spot' 

<p>Blockchain technology has been on the rise in India, with the government and private sector investing heavily in its development. The Indian government has set up a national blockchain framework, and several state governments have also launched their own blockchain initiatives. The private sector is also embracing blockchain, with many companies using it to improve their efficiency and security.</p>

<p>This growth can be credited to a number of factors, including the country's large and growing population, its strong IT sector, and its government's commitment to innovation. Blockchain is seen as a technology that has the potential to transform a wide range of industries in India, including healthcare, finance, supply chain management, and government services.</p>

<p>To understand how blockchain is transforming the Indian technological infrastructure, we caught up with Dr. Ravi Chamria, Co-Founder &amp; CEO, Zeeve, which is an enterprise-grade no-code blockchain infrastructure automation platform that enables easy deployment, monitoring, and management of blockchain nodes and networks.</p>

<h3>Q1 How much has blockchain technology disrupted the Indian market as of now?</h3>

<p>Without question, blockchain technology has had a significant impact on the Indian market. The evidence is in the numbers. According to a report by NASSCOM, India is home to over 500 blockchain startups, and the total investment in this sector has reached an impressive $1.3 billion.</p>

<p>The influence of blockchain isn't just restricted to the private sector. It's making waves in the public domain too, with nearly half of India's states actively engaged in blockchain-related initiatives. Prominent examples include blockchain-based solutions for land registry, agricultural insurance, and digital certificates.</p>

<p>Notably, Andhra Pradesh has collaborated with Zebi Data and Hitachi to develop a blockchain-based land registry, while Uttar Pradesh has partnered with UNDC for similar initiatives. In West Bengal, municipal corporations are working with Linked, a Dutch company, to issue birth and death certificates via blockchain.</p>

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<p>Meanwhile, Assam has joined forces with Nucleus Vision for governance applications, and Tamil Nadu and Telangana governments are investing in blockchain education and IP development.</p>

<p>Overall, it's clear that blockchain is no longer a fringe technology in India. It's becoming integral to both public and private sector innovation, with a projected increase in usage of 46 percent in the coming years.</p>

<h3>Q2 Which industries are witnessing the highest rate of transition from Web 2.0 to Web 3.0? What are the reasons?</h3>

<p>The Retail and Finance sectors are taking the lead in the transition from Web 2.0 to Web 3.0 in India. For instance, e-commerce giants like Flipkart and Myntra are pioneering immersive customer experiences with initiatives like Flipverse and virtual try-on. These innovations herald a new era of e-commerce in India, leveraging the interactivity and decentralisation of Web 3.0.</p>

<p>The Finance sector is seeing a similar shift, with tokenised assets and digital bonds becoming increasingly commonplace. A great example is the Union Bank of India's Virtual Lounge, which provides a one-stop-shop for banking needs in the digital space.</p>

<p>A recent report by Arthur D. Little also confirms this trend, identifying seven sectors that stand to be heavily impacted by the Web 3.0 evolution. Retail and Finance top the list, followed closely by Energy, Telecom, Media, Automotive, and Healthcare sectors.</p>

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<p>The key reason for this shift lies in the inherent value of blockchain, which streamlines processes, cuts down costs, and enhances transparency. This technology serves as the backbone of Web 3.0, helping various sectors unlock new potentials.</p>

<h3>Q3 Which blockchain protocols (both public and private) are being used the most by companies and developers in India and&nbsp;why?</h3>

<p>When it comes to blockchain protocol adoption in India, Polygon and Ethereum are leading the charge. A lot of activity is happening on the Polygon PoS chain in the public sector. On top of that, other blockchain protocols like NEAR and Tezos are gaining momentum. NEAR, in particular, is doing a fantastic job in India, setting up accelerator and incubator programs to help companies transition from Web2 to Web3.</p>

<p>On the permissive blockchain side, big players like Hindustan Unilever, SBI, and Kotak Mahindra are experimenting with protocols like Hyperledger Fabric, Quorum, and R3. The protocol choice here largely hinges on flexibility, the ability to customize according to specific business needs, and the benefits of collaborating with other businesses in a secure and private network.</p>

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</ul>

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<p>Overall, the choice of blockchain protocol is dictated by a combination of factors such as transaction speed, cost, flexibility, and the specific use case. The objective is to find the right balance that aligns with a company's strategic goals.</p>

<h3>Q4 Considering that blockchain tech and crypto are so closely woven, how has the anti-crypto sentiment in India affected the growth of blockchain?</h3>

<p>It's a mixed bag in India right now. We're seeing support from the government on the blockchain front, and there's even a national strategy on it. But there's a fair amount of hesitation when it comes to crypto. And this, no doubt, has impacted the overall growth of blockchain in the country.</p>

<p>Even though we're seeing some great blockchain startups emerge from India, the uncertain regulatory environment is pushing many to register their businesses abroad. It's quite the conundrum; on one side, we're promoting blockchain, but on the other, we're inadvertently encouraging a sort of brain drain.</p>

<p>Looking at the broader picture, it's 2023, and we're witnessing global businesses integrating blockchain, NFTs, and even cryptos, creating a unified ecosystem. But when a large number of Indian blockchain-based companies are registering in Dubai or Singapore to avoid uncertainties, I think that’s a red flag, and it's time we think again about our approach.</p>

<p>Given the current state of affairs, it's understandable for big firms to be cautious about investing in India. What we need now, more than ever, is a thoughtful, balanced regulation that not only safeguards against risks but also allows for innovation.</p>

<h3>Q5 What regulatory changes are required in India to accelerate the adoption of blockchain?</h3>

<p>First and foremost, we need pro-blockchain policies. We're talking about policies that make it simpler for businesses to start, operate, and scale their operations. This would include low regulatory barriers and the scope for adequate infrastructure.</p>

<p>If we can make it easier and more cost-effective to run a business, we'll surely attract more innovators in this field. Another thing could be setting up regulatory sandboxes centred on Web3 technologies. This will provide startups with the opportunity to explore the multifaceted applications of blockchain.</p>

<p>From tokenisation to NFTs and beyond, it's all about providing a safe space for creativity and innovation to flourish. And what's more important about a sandbox like this is that it can foster a meaningful dialogue amongst everyone involved - the regulators, startups, and policymakers.</p>

<p>This collaborative approach can help develop a more nuanced and effective Web3 framework. Another key change would be establishing blockchain-friendly zones, similar to the Special Economic Zones (SEZs) we've set up for IT growth in India.</p>

<p>If you look at blockchain-friendly countries like Dubai, they're offering incentives to foreign investors through these zones. It's an effective strategy that can really boost the growth of blockchain in India. Active collaboration between government, academia, and the private sector could also drive innovation.</p>

<p>This could be achieved by setting up 'Centres of Excellence' focused on blockchain, promoting cross-industry collaborations, and sponsoring projects that use blockchain for social good. The core idea here is to create a playground for our innovators, giving them the tools they need and watching as they shape the future of blockchain.</p>

<h3>Q6 How is Zeeve enabling blockchain adoption at a massive rate? Which propositions of the platform stand out and give Zeeve a competitive edge?</h3>

<p>When you think of the IT boom, you think of services like AWS that helped businesses focus on their core work by handling the heavy lifting of infrastructure. At Zeeve, we're doing something similar, but for blockchain. We aim to become the AWS of Web3, simplifying the complex layers you'd otherwise have to manage.</p>

<p>You see, when it comes to blockchain, it's not just about handling protocol layers. You also need cloud services, monitoring tools, and 24/7 alert systems. Integrating these parts can be tricky, time-consuming, and costly. That's where Zeeve steps in. We streamline the process, getting you up and running the blockchain infrastructure across different protocols and deployment options in no time.</p>

<p>We ensure businesses can focus more on their product offerings rather than the intricacies of blockchain deployment.</p>

<p>Our platform is a one-stop-shop offering no-code deployments for over 40+ protocols, including public, permissive, or application-specific blockchain solutions. We ensure top-notch security, support for 9 leading cloud providers, and also the flexibility to bring your own cloud. We've got all the compliance check-boxes ticked off too - ISO, SOC2 Type II, and GDPR. Zeeve is more than just a service; we’re a partner, a collaborator, enabling businesses to leapfrog into the future of blockchain.</p>

<h3>Q7 What are Zeeve's future plans?</h3>

<p>Zeeve's primary goal is, and will always be, to simplify blockchain adoption and empower businesses to step confidently into this new era. Our future plans are deeply rooted in this mission. We keep our finger on the pulse of our users' needs, staying abreast with the latest in blockchain advancements to ensure our platform is always up-to-date and providing the most secure and reliable Blockchain infrastructure management.</p>

<p>A good example is our response to the evolution of blockchain use. Not so long ago, the trend was towards public and permissioned chains, with the latter being the enterprise favourite due to its customisation capabilities, privacy, and flexibility.</p>

<p>However, the landscape shifted, and we saw the emergence of application-specific blockchains like Polygon Supernets designed to accommodate larger user bases. Recognising this shift, we promptly added support for these solutions on our platform.</p>

<p>Our proactive approach illustrates our commitment to always providing our users with the most relevant and cutting-edge solutions. As we navigate the future, Zeeve will continue to evolve and adapt, always striving to be the ultimate partner in your blockchain journey.</p>


In conversation with Dr. Ravi Chamria, Co-Founder & CEO, Zeeve to understand the growth of blockchain in India and the potential opportunities that it offers.

The impact of blockchain on India tech ecosystem

The future of blockchain in India and its impact on the technological ecosystem | Interveiw

The future of blockchain in India and its impact on tech

<p>With the advent of technology, physical shopping has gradually paved the way for e-commerce and online transactions. Moreover, nowadays AI has taken the world by storm. Hence, businesses globally are trying to encash these emerging technologies, thereby, offering personalised and seamless customer support across multiple channels. Furthermore, in these modern times, when new-age tech is helping companies increase customer satisfaction, boost conversions, as well as improve overall business performance, below is an interaction with Deepika Loganathan, Co-Founder, and CEO of Haive.</p>

<h3>Do you think&nbsp;there is a need for a foundational framework for an AI standards body with the government?</h3>

<p>Developing a foundational framework for an AI standards body with the government is crucial to ensure the ethical, responsible, and equitable use of AI. It helps set guidelines for transparency, privacy, security, and fairness. It also ensures that AI technologies are developed and used in a way that aligns with the societal values and legal norms of the country.</p>

<h3>What according to you is the role of the AI standards body in shaping the future of AI development and deployment?</h3>

<p>The AI standards body plays a pivotal role in shaping the future of AI by setting guidelines for its development and deployment. It ensures that AI technologies are safe, reliable, and beneficial. It also promotes transparency, accountability, and public trust in AI. Moreover, it can help address issues such as bias in AI, data privacy, and the impact of AI on jobs and the economy.</p>

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</ul>

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<h3>What will be the <span lang="EN-IN" style="mso-ansi-language:
EN-IN">benefits of such a body and its impact on the innovation and adoption of AI?<o:p></o:p></span></h3>

<p>The AI standards body can accelerate AI innovation and adoption by providing a clear framework for developers and users. It can help reduce uncertainty and risk, promote interoperability and compatibility, and ensure that AI technologies meet certain quality and safety standards. It can also help foster public trust in AI, knowing that their government is playing an active part in regulating it, which is crucial for widespread adoption.</p>

<h3><span lang="EN-IN" style="mso-ansi-language:EN-IN">What impact will the </span>AI standards body have on the AI industry?</h3>

<p>The establishment of an AI standards body can indeed help define regulation for the AI industry. It can set guidelines for ethical and responsible AI development and use while ensuring compliance with existing laws and regulations. However, these regulations must be designed to foster innovation and not stifle it. This is why the standards body needs to be a hybrid one with government and industry stakeholders.</p>

<h3>Will regulating AI smother its growth trajectory?</h3>

<p>While some worry that regulating AI could stifle its growth, it's important to note that regulation can also provide a clear framework that promotes responsible and sustainable growth. It can help prevent harmful uses of AI, protect consumers, and foster public trust. However, these regulations must be designed in a way that balances the need for oversight with the need for innovation.</p>

<h3>Several national governments have urged the need for regulating the AI space. Can you give a few examples of successful AI standards bodies or frameworks?</h3>

<p>There are several examples of successful AI standards bodies or frameworks. For instance, the IEEE has developed a series of standards for the ethically aligned design of AI. The European Commission has also proposed a regulatory framework for AI. These frameworks emphasize principles such as transparency, fairness, privacy, and accountability. India can learn from these examples and adapt them to its context. Such standards body is the reason we have the current internet situation which is equitable for most.</p>

<h3>How according to you should the general public be informed regarding AI standards?</h3>

<p>Effectively communicating and educating the public about AI standards involves clear, accessible explanations of what these standards are and why they're important. This could involve public awareness campaigns, educational programs, and open dialogues with the public. It is also important to involve the public in discussions about AI standards, to ensure that these standards reflect societal values and needs.</p>


In today's world, where AI is continuously hogging the limelight and nations across the globe are calling for its regulated use, here's an interaction with Haive's Co-Founder and CEO, where she emphasises the need for an AI framework that would help in its balanced growth.

Countries all over the world are urging for the regulated use of AI

Ethical and responsible AI development is the need of the hour, opine experts

Interview with Haive on need for regulatory framework for AI

Is there a need for an AI-based regulatory framework & what impact it would have on the AI industry? | Interview

Is there a need for an AI-based regulatory framework?

<p>As artificial intelligence becomes more advanced, it has gained much attention for its potential to impact businesses. Companies are exploring ways to gain a competitive edge in this AI-driven environment. In today's data-driven world, by leveraging AI technologies, businesses can analyse vast amounts of data, identify the right customers, and personalise campaigns, enabling them to make informed decisions.&nbsp;</p>

<p>In these modern times, when AI is creeping into every walk of life and is helping to improve data analysis and reshape marketing strategies, below is an interaction with Anil Chawla, India MD, Verint Systems.</p>

<h3>What role does multi-cloud technology play in shaping the future of tech?</h3>

<p>A multi-cloud approach always helps in implementing automated, best-in-class solutions in an organisation's existing cloud roadmap. This helps them to fast-track their time-to-market in a fast-paced customer engagement industry.</p>

<p>Verint has been working with organisations across industries including banking, e-commerce, BPOs, etc. to elevate their customer’s experience and brand loyalty. With the adoption of Verint cloud solutions, customers have been able to witness $42 million in savings from improved contact center management, a 20% improvement in employee productivity, a 44% reduction in customer engagement cost, and an overall ROI of 391% in three years.</p>

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</ul>

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<h3>Can you highlight the readiness of Indian organisations vs organisations in the West in terms of readiness for a multi-cloud approach?&nbsp;</h3>

<p>Indian organisations' readiness towards a multi-cloud approach is at par with their global counterparts, if not higher. In fact, in the past two years, the magnitude of investments Indian organisations have made towards next-generation technologies including multi-cloud, AI, etc., has resulted in their ability to elevate their engagement with customers despite budget cuts and an ever-present pressure to further reduce costs.&nbsp;</p>

<p>According to the recently published Verint Engagement Capacity Gap (ECG) Benchmark Diagnostic, 87% of organisations in India are highly confident in their company's ability to provide high-quality customer experiences during 2023. Further, over 76% of the Indian respondents said that the investments made during the past two years in AI, analytics, and an open cloud architecture have helped them in elevating both CX and EX.</p>

<h3>Does multi-cloud tech help in the acceleration or development of blockchain tech?&nbsp;</h3>

<p>Yes, multi-cloud technology can help in the acceleration and development of blockchain technology. Multi-cloud refers to the use of multiple cloud service providers to host various components of an application or infrastructure. When applied to blockchain technology, multi-cloud offers several benefits:</p>

<h4>Improved scalability:</h4>

<p>Blockchain networks require significant computational resources to handle the increasing number of transactions. By utilising multiple cloud providers, organisations can distribute the workload across different cloud platforms, allowing for greater scalability and accommodating higher transaction volumes.</p>

<h4>Enhanced reliability and redundancy:</h4>

<p>Multi-cloud setups provide redundancy and fault tolerance. If one cloud provider experiences downtime or other issues, the blockchain network can seamlessly switch to another cloud provider without disrupting the overall operation. This helps ensure high availability and mitigates the risk of a single point of failure.</p>

<h4>Geographic distribution:</h4>

<p>Multi-cloud deployments enable the distribution of blockchain nodes across different geographical regions. This geographic redundancy enhances the network's resilience and reduces latency by bringing nodes closer to users. It also helps comply with data sovereignty requirements and regulatory constraints specific to certain jurisdictions.</p>

<h4>Flexibility and vendor lock-in avoidance:</h4>

<p>By adopting multi-cloud strategies, organisations can avoid vendor lock-in and maintain flexibility in their blockchain deployments. They can choose the cloud providers that offer the best combination of features, pricing, and performance for their specific requirements. Additionally, multi-cloud setups allow organisations to leverage different cloud providers' specialised services, such as AI/ML capabilities or data analytics tools, to enhance their blockchain applications.</p>

<h4>Improved security:</h4>

<p>Multi-cloud environments can provide an additional layer of security for blockchain networks. By leveraging the security measures offered by multiple cloud providers, organisations can implement robust security controls and monitor for potential threats across different cloud platforms. This can help protect the integrity and confidentiality of the blockchain data and transactions.</p>

<p>However, it's important to note that implementing and managing a multi-cloud architecture for blockchain can introduce complexity in terms of deployment, integration, and orchestration. It requires careful planning, resource allocation, and ongoing management to ensure optimal performance and cost efficiency. Organisations should consider the specific requirements and challenges of their blockchain use cases before adopting multi-cloud strategies.</p>

<h3>The top 3 industries that are expected to benefit the most from the multi-cloud approach.</h3>

<p>Banking, Retail, BPO, and AMCs are expected to benefit the most from investing in a multi-cloud approach. Being service industries, elevated customer engagement is really critical for these sectors. In fact, considering our operations in the Indian market, it is underlined by a strong customer base number well over 100 that includes all of these sectors. This is a mixture of traditional 'on-premises' customers augmented with a rapidly growing cohort of clients that are investing in Verint's cloud platform.</p>

<p>Verint is already engaging with around 80% of Indian BPOs, 60% of India's top 5 banks, and 35% of top Indian asset management companies. In fact, Verint has a leading market share of 43.6% in India basis its suite of solutions for combined Workforce Management, Quality Monitoring, and Analytics.</p>

<h3>Verint's plans for the Indian market with its multi-cloud platform.</h3>

<p>We continue to witness double-digit growth in India that is backed by our industry-ready solutions like AI-enabled interaction analytics, Knowledge Management, and Customer Engagement Cloud platforms. In terms of revenue, India ranks second in the APAC region. As we moved into our current fiscal starting February 1, 2023, our key focus in the market is to increase cloud adoption and work through the partner network to offer Verint cloud services to the end customer in India.</p>

<p>Apart from this, we also look forward to augmenting our focus on Real-Time Agent Assist and Interaction Analytics across industries like Banking, Finance, E-commerce, and more along with bringing operation excellence in contextual knowledge to the Back Office customer and providing them with improved SLAs and adherence.<br />
&nbsp;</p>


In today's data-driven world, where multi-cloud technology is playing a key role in driving automation across businesses, here’s an interview with Verint Systems’ India MD, where he emphasises how this emerging tech is accelerating organisational growth.

Multi-cloud technology helps implement automated solutions in the business

It also helps in the acceleration and development of blockchain technology

An interview with Anil Chawla, India MD, Verint Systems

How is multi-cloud technology driving blockchain tech & impacting businesses?

How is multi-cloud technology driving blockchain tech?

Blockchain

<p>With a continuous increase in investment flows, a profusion of start-ups, and a diversified pool of IT expertise, the Indian blockchain and web3 market is experiencing enormous promise. In 2021, 48 rounds totalling $638 million in blockchain and cryptocurrency investments were made in India, according to statistics made public by Tracxn. A NASSCOM survey also revealed that India has the third-largest web3 workforce in the world, and that workforce is projected to grow by over 120 percent this year.&nbsp;</p>

<p>According to a report by the World Economic Forum, 10 percent of global GDP could be stored on blockchain by 2025. To understand the growth of blockchain in India even more deeply, Web3Cafe spoke to Anuj Kumar Garg - Vice President - Blockchain, ZebPay, India’s crypto asset exchange.&nbsp;</p>

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<h3>Which sectors in India are most likely to be impacted by blockchain technology, and how?</h3>

<p>The World Economic Forum anticipates that by 2025, 10 percent of the world's GDP could be kept on the blockchain. Numerous businesses already employ blockchain technology. For instance, the healthcare industry is using blockchain-based solutions to manage patient data effectively and securely. Blockchain technology is being used in the finance industry to streamline procedures including payments, KYC, and trade finance.</p>

<p>However, a favourable legal framework, investments in infrastructure, workforce education, and training are necessary to promote the wide adoption of blockchain technology in India. This will need cooperation between industry participants, the government, and research and development organisations. The advantages that blockchain technology can provide make it a promising prospect for the future of these industries in India.</p>

<h3>How can blockchain technology help businesses create new opportunities and solutions, and what are the benefits of doing so?</h3>

<p>Blockchain technology offers businesses enhanced security, improved transparency, streamlined processes, supply chain optimization, trust and collaboration, access to new funding options, and data monetization. By leveraging blockchain, businesses can unlock new opportunities, improve operations, and create innovative solutions that advance security, transparency, efficiency, and trust in various processes.</p>

<p>It has the potential to revolutionize numerous elements of corporate operations and therefore significantly impact enterprises. Blockchain technology can change how businesses operate, spur innovation, and build a more transparent and secure corporate ecosystem.</p>

<h3>What unique challenges do Indian businesses face when it comes to adopting blockchain technology, and how can they be overcome?</h3>

<p>Blockchain and crypto regulations in India are still in the development phase. It is essential to establish clear and beneficial policies that create an atmosphere that encourages the adoption of blockchain technology. In some places, it may be difficult to find skilled blockchain engineers, scale applications, or have reliable internet connectivity. To get around this, businesses need to create solid infrastructure and upskilling programmes to make sure they have the tools and knowledge necessary for successful implementation.</p>

<p>In order to create a supportive regulatory environment, it will be essential to establish uniform standards. Government agencies, industry organizations, and enterprises will require enhanced collaboration. Public-private partnerships can expedite and finance the creation of blockchain infrastructure.</p>

<h3>How can the growth of the blockchain and web3 industry in India lead to the creation of new jobs and increased investment?</h3>

<p>The development of the blockchain and web3 sectors in India offers enormous opportunities for greater investment and employment creation. As the sector grows, a competent workforce knowledgeable in blockchain development, cybersecurity, and related fields will be required, thereby creating new job roles. Additionally, the industry's entrepreneurial spirit will draw startups and business owners, encouraging innovation and stimulating investment. With a consistent increase in investment flows, a profusion of start-ups, and a diversified pool of tech expertise, the blockchain and web3 market in India is witnessing remarkable potential. In 2021, India’s blockchain and crypto industry received $638 million worth of investments, according to statistics released by Tracxn.</p>

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<div class="heading-text">Also Read</div>

<ul class="tab-link">
	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/interviews/story/web3-gaming-platform-ggx-aims-to-revolutionise-gaming-industry-with-new-features-558457-2023-05-17">How GGX is looking to revolutionise the Web3 gaming industry | INTERVIEW</a></li>
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<p>Collaboration between corporations, startups, academic institutions, and governmental organizations will open up R&amp;D facilities, innovation hubs, and industry consortia, luring additional funding and enabling customized blockchain solutions. With the right conditions and a trained workforce, India can establish itself as a dominant force in the global blockchain market, bringing with it economic advantages and more job possibilities for the citizens.</p>

<h3>What role can blockchain technology play in addressing issues like data privacy and trust in the digital world, and what are some real-world examples of this in action?</h3>

<p>The use of blockchain technology has the potential to bring significant changes to the way we perceive data privacy and trust in the digital sphere. Its decentralized and transparent ledger offers an immutable record of transactions and data, which ensures that any information recorded cannot be tampered with or deleted, making it highly secure and trustworthy.</p>

<p>One real-world example of blockchain technology being used to address issues of data privacy and trust is in the field of healthcare. Blockchain technology allows healthcare providers to securely store and exchange patient data in a manner that is transparent, decentralized, and highly secure.</p>

<p>An example for this is MedRec, a blockchain-powered medical record system developed by researchers at MIT. MedRec aims to establish a secure and decentralized ledger of medical records accessible to patients, doctors, and hospitals. Through the implementation of blockchain technology, MedRec safeguards the security of medical records and prioritizes the protection of patient privacy. Based on its unique features such as decentralization and transparency, blockchain technology has shown great promise in enhancing data privacy and trust in various digital applications.</p>

<h3>What are the key steps required for integrating blockchain technology into existing systems and infrastructure, and how can collaboration between the government and industry players help in this regard?</h3>

<p>Successfully incorporating blockchain technology into an established system and infrastructure requires a meticulous and well-planned approach. Although the integration process will differ based on the requirements of the company and the specific blockchain technology employed. To effectively integrate blockchain technology, it is important to start by defining specific business problems or use cases that can be addressed using blockchain, followed by selecting the appropriate blockchain technology that meets your specific needs and is secure, reliable, and cost-effective. It is then crucial to plan the integration process thoroughly, including identifying any necessary infrastructure changes or upgrades, data storage and security requirements, and integration with existing software applications.</p>

<p>Collaboration between the government and industry stakeholders can expedite the incorporation of blockchain technology into current systems and infrastructure by creating a favourable environment where industry players can contribute with their expertise and resources.</p>

<h3>What are the latest trends and developments in the blockchain and web3 industry in India, and what implications do these have for the tech landscape in the country?</h3>

<p>India’s blockchain and web3 space is experiencing rapid growth, with numerous startups and companies at the forefront of developing innovative applications for this technology. According to a study by the National Association of Software and Services Companies (NASSCOM), India boasts the third-largest talent pool globally in the web3 domain, comprising approximately 11% of the total talent. This talent pool is expected to grow at an exceptional rate of over 120% in the next 1-2 years. Additionally, India is home to over 450 web3 startups, which have attracted significant investments of $1.3 billion in the past two years, as reported by NASSCOM.</p>

<p>This indicates the significant potential that the web3 industry holds for driving a transformative shift in India's technology landscape. This will create new avenues for employment, attract foreign investments, and position India as a frontrunner in the development of cutting-edge technologies. The web3 industry is poised to bring about substantial growth and advancements in the country's technological ecosystem.</p>


A recent conversation with the Vice President - blockchain, Zebpay,  Anuj Kumar Garg, sheds light on the potential of blockchain in India. 

India to expect many blockchain startups in the coming years 

Blockchain technology has the potential to bring significant changes to data privacy

Blockchain technology can change how businesses operate

How promising is the blockchain sector in India? | INTERVIEW

How promising is the blockchain sector in India?

<p>Web3 has revolutionised various industries, including the gaming sector, which is witnessing a change from free-to-play to play-to-earn. This new-age emerging technology with its introduction of blockchain-based gaming is opening up a plethora of possibilities in the gaming industry.</p>

<p>As per the reports, the Indian gaming market is likely to grow from $2.8 billion in 2022 to $5 billion in 2025 at a CAGR of 28 percent to 30 percent. This climb is aided by a boost in online gaming platforms, affordable smartphones, and greater internet usage. Moreover, the nation’s gaming population is expected to grow from 420 million in 2022 to 450 million by 2023 and will reach 500 million by 2025.<br />
<br />
Also, according to the W3 India Business Report 2023, the global market size of Web3 is projected to expand significantly, growing from $3.3 billion in 2021 to $82.7 billion by 2030. Although still in its early stages, there is no denying that Web 3.0 technology is establishing a robust framework for the future of the Indian gaming industry. It has the potential to generate new revenue streams for game developers and provide opportunities for players to earn income from their gaming activities.</p>

<p>That said, we had the opportunity of speaking with&nbsp;Rachit Rastogi, COO, GGX, a Web3 gaming platform&nbsp;which aims to set&nbsp;new standards for value creation &amp; exchange for the global gaming industry.&nbsp;</p>

<h3>What was the thought behind introducing a platform like GGX?</h3>

<p>The launch of GGX is driven by the vision to capitalise on the potential for growth in the rapidly expanding sector of Web3 gaming. With India being one of the fastest-growing video gaming markets worldwide, there is a unique opportunity for the country to take the lead in the Web3 gaming domain. India possesses a talented pool of game designers and product developers capable of creating sustainable Web3 economies within games that can achieve tremendous global popularity.</p>

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<p>The primary objective of launching GGX is to harness the power of Web3 technology and provide a gaming experience that surpasses traditional gaming by being more fair, transparent, and community-driven.</p>

<p>Additionally, it aims to introduce a new sustainable method of monetisation. Web3 brings value to players by enabling true ownership of in-game assets and facilitating their trade. Developers can benefit from Web3 by accessing a marketplace that can be seamlessly integrated into any game. Through GGX, our goal is to deliver an exceptional experience for both developers and players, allowing them to fully realise the value of Web3 within their games with minimal obstacles via an in-game marketplace.</p>

<h3>What does the platform offer&nbsp;game developers?</h3>

<p>The main features of the GGX platform revolve around enabling players to own, trade, and rent in-game items of games that partner with GGX. Game developers often face the challenge of allocating time and resources to incorporate player functionality into their immersive game titles. GGX aims to address this issue by offering a straightforward software development kit (SDK) integration for developers.</p>

<p>This integration seamlessly incorporates GGX's comprehensive Web3 infrastructure into their games. Within the SDK, GGX also provides global Know Your Customer (KYC) and payment solutions, allowing for convenient deposits and withdrawals across different geographical regions. Moreover, the platform's in-game trading system can be customised to match the user interface and user experience of any game, ensuring a smooth and frictionless experience for players.</p>

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<p>Through these end-to-end solutions, GGX assists developers in effortlessly integrating blockchain technology into their games without the need to build everything from scratch. Additionally, GGX supports developers by offering advisory services and distribution support to scale their games and attract players. This allows developers to concentrate their efforts on creating engaging games, knowing that GGX provides the necessary tools and support for their success.</p>

<p>What does GGT stand for? How does it operate? GGT (Good Game Token) is a utility token that can be used within games which are integrated with the GGX platform. It can be used to craft and upgrade assets within the games that partner with GGX. GGT is also designed to reward all stakeholders who contribute to creating and stimulating value on the platform. For example, players who participate in the GGX marketplace may be rewarded with GGTs as an incentive. Similarly, game developers who launch new games on the platform may also be rewarded with GGTs as a way of incentivising them to continue building and releasing new content.</p>

<h3>In what ways has Web3 transformed the gaming industry?</h3>

<p>Web3 has brought about a profound transformation in the gaming industry through various means. It has empowered players with true ownership of their game assets, allowing them to freely trade them and unlocking new avenues for monetization and engagement. By storing game assets on decentralised blockchain networks instead of being controlled solely by developers, players now have the ability to buy, sell, and trade their assets on open marketplaces.</p>

<p>This not only increases the value of the assets but also enhances long-term engagement and retention. Moreover, the concept of true asset ownership has opened up disruptive possibilities for Web3 and developers beyond trading, including asset renting, auctions, and more.</p>

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<p>From the perspective of game developers, Web3 has introduced a fresh recurring revenue stream that complements existing monetisation methods. The impact has been noticeable, with higher conversion rates among players who understand that assets can be resold, as well as stronger player retention due to increased engagement with the game. The lasting influence of Web3 is evident, and with GGX, the aim is to enable both game developers and players to extract value from this cutting-edge technology. By doing so, the gaming industry can continue to grow and tap into its tremendous potential.</p>

<h3>What are the trends that will shape the future of the Web3 gaming industry?</h3>

<p>The Web3 gaming industry is still in its early stages but is rapidly evolving, and it is expected to exert significant dominance and disruption in the near future. This presents a remarkable opportunity for India to emerge as a global leader in the Web3 domain, given its flourishing technological sector and rapidly growing economy. With the right investments and support, India is well-positioned to become a key player in the Web3 ecosystem and play a pivotal role in shaping the future of technology.</p>

<p>Several trends are likely to dominate the future of Web3 gaming. There is a growing inclination towards in-game trading due to its enhanced monetisation prospects. This trend allows players to trade in-game items, unlocking new avenues for revenue generation.</p>

<p>Moreover, decentralised game development is expected to gain traction, enabling the creation of games without a central authority. This approach fosters transparency, security, and player ownership within the gaming experience. Consequently, the demand for blockchain-as-a-service (BaaS) solutions is anticipated to rise, offering developers the tools and infrastructure they need to implement decentralized features seamlessly. This is where GGX aims to contribute value to the ecosystem. Another significant trend on the horizon is interoperability, which empowers players to utilize their assets across multiple games.</p>

<p>With GGX, our objective is to support developers in capitalising on these key trends. We aim to assist them in building sustainable monetisation models for their game titles, leading to improved player retention and engagement. Furthermore, we prioritise transparency for players, providing a secure gaming experience that instills trust and confidence.</p>


Here's a chat with GGX, a Web3 gaming platform on how it's looking to revolutionise Web3 gaming.

GGX is an Web3 gaming platform.

How GGX is looking to revolutionise the Web3 gaming industry | INTERVIEW

GGX aims to revolutionise the Web3 gaming industry 

<p>It's always important to hear what some of the top minds working in the field of Emerging Technologies have to say about the industry, tech and policy. In this section, we get you some insights and views from industry stalwarts and experts on how their products and services are shaping the future of technologies in India and around the globe.&nbsp;</p>
