Blockchain for Productivity Forum Panel

Blockchain for Productivity Forum highlights: Transforming public utilities with blockchain tech

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How is blockchain going to be adopted in the world? That’s what experts and thought leaders in India tackled at the “Transforming Public Utilities: Blockchain Use-Cases over Digital Infrastructure Aligning G20 Agenda” conference hosted by Blockchain for Productivity Forum.

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Held at the Constitution Club of India in New Delhi, the conference welcomed a diverse array of speakers representing TRAI, STPI, TCIL, Serenity Shield, CDAC, TEC, IIM Lucknow, HyperLedger Foundation, Gaia Smart Cities, Bharat Web3 Association, Ministry of Defence, Indian Navy, and IEEE who shared their insights on transforming public utilities with blockchain.

Dr. Satya Gupta, the chairman of Blockchain for Productivity Forum and Bharat IPv6 Forum, made it clear that the objective of the conference is to bring awareness about the use cases of blockchain that would enhance productivity and solve problems of public enterprises, government, and the society at large.

Still on the topic of blockchain utility, the Co-Founder and CEO of Serenity Shield Venkat Naga reiterates, “Every industry is going to have a use case for blockchain.” He believes the technology delivers decentralization, privacy, security, and trackability and promotes data ownership, which he notes must be embraced by different industries worldwide.

Blockchain use cases, as discussed in the forum

Since its G20 presidency, India has maintained its strong stance on blockchain adoption. In September 2022, Indian Finance Minister Nirmala Sitharaman expressed that the use of blockchain technology would advance by 46% in the next few years. And Blockchain for Productivity Forum leaders agree with the Finance Minister’s statement.

Competition Commission of India’s Former Director, General Kaushal Kumar Sharma, said in his keynote speech that in the coming years, blockchain would reduce crimes in the South Asian country.

“Mark my words, in the coming five-six years because of the transparency and all these things, [blockchain] would lead to the reduction of crimes. It will lead to honesty by default because you have no option. If you are detecting crime and catching criminals fast, people will be pushed into following a truthful society,” he noted.

Adding to the discussion, more leaders thought of utilizing the technology to secure the telecommunication industry, monitor cyber space, manage supply chains, and leverage blockchain in the healthcare and pharmaceutical industries.

“The main thing today was really leading up to the G20 and working out on digitalization, how blockchain could be involved in that, particularly in productivity, utility, and all the different use cases,” Julian Gordon, VP of Asia Pacific, Hyperledger & OpenSSF, Linux Foundation said.

In closing, Dr. Gupta reminded everyone that they don’t need to be an expert in the field to learn about blockchain technology since using it daily will teach them how to leverage the tech properly.

“[We] should not be afraid of the blockchain thinking that it is a technology, thinking that it is very complex…you don’t have to be an engineer, you don’t have to be a computer scientist to understand blockchain and to make use of blockchain,” he said.

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