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Kerala to Emerge as a Blockchain Hub of India : IT Secretary

In Business
December 16, 2019

Kerala will produce 20,000 professionals in blockchain in the next two years, in what could be a major revolution in this emerging technology in India.

“The coming two years are crucial for us as we plan to produce 20,000 blockchain experts. The emphasis is on enhancing the quality of manpower steered by young startup companies. This is a great opportunity for us to build expertise in next-generation technology and knowledge sharing,” State IT Secretary M Sivasankar said here .

He was inaugurating the second edition of two-day conclave – ‘BlockHash Live 2019’ which began here today. Organised by the Kerala Blockchain Academy (KBA) in association with Allianz Technology , India the event saw the industry leaders making a strong case for leveraging the potential of blockchain technology for public through capacity building and promoting research, development and entrepreneurship.

“Blockhash Live has been a great learning platform for us. We use this platform to check what we have achieved, our learning and future footprint,” said Sivasankar .

Described as the most promising cutting edge technological innovation after the advent of Internet, Blockchain technology provides a tamper-proof and immutable data storage system and transparency in digital applications. It has the potential to disrupt business domains such as cyber security, banking services, insurance, trade finance and retail by performing quicker, secure and transparent transactions, he said.

Earlier, in his welcome address, Dr Saji Gopinath, Director, Indian Institute of Information Technology and Management – Kerala (IIITM-K), emphasized on the importance of bringing together blockchain experts across the world to discuss on the business potential of this new age technology.

All the dignitaries at the inauguration spoke about the significance of blockchain system in various industries with collaborative opportunities in leveraging the technology for public good, and positioning Kerala as the country’s blockchain hub. The dignitaries included Rahul Sinha, Head, Cross Pillar Services Allianz Technology, India; Dr Jane Thomason, CEO, Fintech Worldwide; and Sunil Raveendran, Chief Technical Architect & Global Blockchain Centre of Competence (Lead) – Allianz Technology India.

The inauguration was followed by a presentation by Marta Piekarska-Geater, Director of Ecosystem- Hyperledger, on ‘Will Blockchain become real?’ Focusing on the importance of blockchain and its usage in various organisational structures, she said, “It is the right time for organisations to focus on the role of blockchain. In the last four years, we have observed how enterprises are looking at real-life solutions using blockchain.”

She also dwelt upon the potential of blockchain and how it can be used in various industries through easy availability of open source collaboration like Hyperledger. “It is never pay-to-play at Hyperledger. Anyone can participate whether your company is a member or not. The collaborative software development approach ensures transparency in the process.”

Cyberlaw expert advocate Nappinai NS spoke about the importance blockchain laws and regulations to enable innovation. The day included panel discussions on topics like Blockchain Governance, Fire Side Chat and Redefining Human value with Blockchain and concluded with the announcement of Hackathon winning team.