NPCI Joins Hands With IISc Bangalore for Joint Research on Blockchain and AI Technology

National Payments Corporation of India (NPCI) has announced the signing of a multi-year Memorandum of Understanding (MoU) with the Indian Institute of Science (IISc), Bangalore, for conducting joint research on Blockchain and Artificial Intelligence (AI) technology. The association will also propel further innovation through the establishment of the “NPCI–IISc Centre of Excellence (CoE) for Deep Tech Research & Development”.

The partnership will focus on scalable blockchain platforms and multi-modal analytics over fintech data. Faculty members from five departments at IISc will work with NPCI researchers on practical challenges related to these areas.

IISc is one of the oldest and premier institutes for pioneering advanced technological research in science, engineering, design and management in India. NPCI’s collaboration with the reputed institute is aimed at solving complex technological and engineering problem statements in the areas of scalability, privacy preserving designs, neural networks, Graph AI, Large Language Models (LLM), etc.

Speaking on the path-defining association, Vishal Kanvaty, Chief Technology Officer, NPCI, "At NPCI, we continuously explore new possibilities to augment the consumer experience by leveraging emerging technologies. This latest development marks an important step towards achieving that goal, and we take immense pride in collaborating with IISc. As our nation progresses towards digital sustainability, we recognize the significant potential for research in deep technologies such as blockchain and AI to further enhance the payment landscape, and we are grateful to have the bright minds assist us in this ambitious endeavour."

Prof Navakanta Bhat, Dean, Division of Interdisciplinary Sciences, IISc, said, "We are delighted to partner with NPCI in the emerging areas of deep tech and fintech analytics. This partnership will not only foster cutting-edge research and the development of models and software prototypes, but also nurture professional development through workshops and training programmes. We look forward to the exciting outcomes that will emerge from this new Centre of Excellence."

“The joint research envisioned between NPCI researchers and IISc faculty members working on distributed systems, cryptography and machine learning provides a unique opportunity for translational research that can enhance the scalability and effectiveness of the billion-scale platforms managed by NPCI,” said Prof Yogesh Simmhan, Associate Professor at the Department of Computational and Data Sciences, IISc.

IISc and Blockchain For Impact (BFI) Collaborate to Translate Research Findings Into Actionable Healthcare Solutions

Indian Institute of Science (IISc) and Blockchain For Impact (BFI) have announced a collaboration under the BFI-Biome Virtual Network Programme, which will see BFI support various research projects at the Institute. The collaboration was formally launched at an event at IISc on Thursday, 8 February 2024.

Under this collaboration, BFI has committed a significant $1 million over the next three years to the BFI-Biome Virtual Network Program for collaborative research projects aimed at turning innovative ideas into real-world healthcare solutions.

BFI-Biome will support selected research projects in life sciences from IISc faculty. It is expected that two to three projects will be supported every year.

Founded by Sandeep Nailwal, co-founder of Polygon (aka Matic), Blockchain for Impact was set up during the 2nd wave of COVID pandemic in India. It was created to help support those in need of help. As the world’s most transparent healthcare fund, BFI initially worked towards strengthening the Indian healthcare system through a sustained supply of medical equipment, vaccines, and relief kits. However, after the COVID wave, the focus transitioned towards early identification and prevention activities which sufficed in capacity building, genome sequencing, adding hospital beds, vaccination, and awareness campaigns.

The announcement of the partnership between IISc and BFI lays the foundation of a series of collaborations that will add to the future of biomedical research and innovation in India. Through this partnership, BFI aims to establish itself as a key player in the Indian translational research ecosystem, driving positive change in healthcare ecosystem.

Mr Sandeep Nailwal, founder and visionary behind Blockchain For Impact expressed his delight on the launch of the BFI Biome Virtual Network partnership with IISc. With a USD 15 million programme dedicated to advancing Biomedical Research and Innovation in India, the BFI Biome initiative transcends traditional boundaries by integrating both upstream and deep science, creating an environment that drives innovation leading to transformative health solutions. This programme aims to bring together leading researchers, technologists, and innovators to collaborate and innovate to drive the next generation of intervention for improved healthcare. By partnering with eminent research institutes in India, BFI Biome seeks to support initiatives that have the potential to revolutionise healthcare delivery in India and the global south.

Dr Gaurav Singh, CEO of BFI, expressed his enthusiasm about the partnership, stating, “This collaboration with IISc is a matter of great pride and exemplifies our commitment to advancing biomedical research and innovation in India. We aim to act as catalysts, collaborating with partners to forge multi-sectoral alliances that deliver long-term, equitable medical preparedness mechanisms. And while funding is one key aspect, our commitment to the cause goes beyond financial support. Through our biomedical research and innovation arm, district-level full-stack partnerships, and process-driven innovation funding and support, we are working towards addressing critical gaps in India’s healthcare infrastructure. The BFI-Biome Virtual Network Programme is a significant first step in this direction.”

Dr Pooja Agrawal, Program Director, BFI, highlighted the potential impact of the collaboration, stating, “The partnership between BFI and IISc represents a milestone moment in our efforts to advance biomedical research and innovation in India. By leveraging the strengths of eminent Indian institutes, we aim to support cutting-edge translational research projects that have the potential to strengthen healthcare in the country. Through the BFI-Biome Virtual Network Programme, we are committed to supporting collaborative initiatives that address key healthcare challenges and drive positive change.”

Prof Govindan Rangarajan, IISc Director, emphasised the importance of collaboration in driving innovation, stating, “IISc is delighted to partner with BFI in this endeavour. By harnessing the expertise of our researchers and leveraging the funding support provided by BFI, we aim to accelerate the translation of scientific discoveries into impactful healthcare solutions. This collaboration is an important step in ‘bench-to bedside’ innovation. It also exemplifies our continued commitment to advancing knowledge and driving positive societal impact.”

Dr Satya Prakash Dash, Senior Advisor, BFI, reflected upon the achievements of IISc since its inception, stating, “IISc has been led by distinguished leaders & the institution has played a pioneering role throughout its history in moving the frontiers of science & nation building. It has nurtured several deep science platform initiatives for greater societal benefit. Our collaboration intends to strengthen innovation through bringing multidisciplinary teams that is akin to an ecological ecotone with the potential to develop transformative biomedical solutions through nurturing exciting translatable ideas.”

Prof Navakanta Bhat, Dean of Interdisciplinary Sciences, IISc, appreciated the BFI-Biome Virtual Network Programme, stating, “The BFI vision aligns with the efforts of IISc to develop scientific solutions for the current healthcare challenges. With the IISc Medical School, IISc will create the next generation of physician-scientists in India by fostering interdisciplinary research, to address the healthcare needs of the world. Access to funding is a precursor towards the achievements of these goals.”

Flipkart To Use Polygon's Blockchain for Brand Engagement Experience for Millions of Indian Users

• FireDrops, which is accessible via Flipkart, is a web3 brand engagement program built on Polygon’s Proof-of-Stake (PoS) to offer users a more transparent, secure, and personalized engagement experience
• Powered by GuardianLink, FireDrops utilizes Fireblocks’ wallet-as-a-service offering and embeds web3 wallets, providing a more user-friendly and integrated experience
• To date, Fireblocks has created 3.6 million web3 wallets for Flipkart users

Flipkart, India’s homegrown e-commerce marketplace, has announced its partnership with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain. The strategic collaboration aims to revolutionize the way consumers safely and easily interact with the Web 3.0 ecosystem. This collaboration will also provide avenues for brands to innovate and enhance customer experiences, as being explored via the FireDrops platform.

FireDrops is an endeavor to create a safe and scalable brand engagement program on the blockchain, where wallets seamlessly spun by Fireblocks allow users to easily interact with web3. Fireblocks has set up 3.6 million wallets for Flipkart users, with a majority of them created in the past few months. Flipkart’s collaboration with Fireblocks is a testament to its commitment in enabling innovation in the Indian e-commerce industry. Flipkart has over 500 million users with more than 150 million products across 80 categories.

“India is fast emerging as the global hub for innovation in web3,” said Ravi Krishnan, Head of Flipkart Labs. “As we look ahead at how the new generation engages with brands, they seek a more personalized and interactive experience, and brands realize they can no longer apply broad strategies across audience segments. In this context, digital assets and web3 have become essential tools to engage with customers effectively. Fireblocks' role is crucial in safeguarding these assets, enabling us to develop and scale. FireDrops, one of the web3 offerings, is among many that we are excited about. In the next decade, web3 will be transformative for the e-commerce space, and India and Flipkart are the perfect sandbox for how digital assets may blur the lines between gamification and retail experiences.”

“We are excited to collaborate with Flipkart to provide them with a resilient, enterprise-grade platform upon which they are building their technology solutions, so they can enhance the shopping experience for users and redefine e-commerce,” said Stephen Richardson, Head of APAC & Managing Director, Financial Markets at Fireblocks. “Through FireDrops, a familiar user experience has been created for millions of Indians interested in collecting their first NFT, making digital ownership more accessible and lowering the barrier to entry into the world of web3.”

Fireblocks' Wallets-as-a-Service allows Flipkart to embed privacy preserving blockchain wallets directly into their mobile application, providing users with seamless onboarding into their first time web3 experience. With Fireblocks, Flipkart can automate and scale wallets and enable NFT creation to support millions of new users on FireDrops.

FireDrops is aiming to revolutionize how users connect with brands while shopping online. By providing engaging experiences with brands that enable customers to earn NFT-based rewards, FireDrops aims to foster greater community engagement and an enhanced user experience. Brands in the FireDrops ecosystem are also anticipating the benefit from deeper, more meaningful, and more tailored interactions with their customers, resulting in higher reward redemption rates and a reduction in customer acquisition costs.

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.

Started in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered user base of more than 500 million, Flipkart's marketplace offers over 150 million products across 80+ categories. Today, there are over 14 lakh sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has created lakhs of jobs in the ecosystem while empowering generations of entrepreneurs and MSMEs. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI, and easy returns, which are customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians.

Fireblocks is an enterprise-grade platform that delivers a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.

STPI Sets Up State-of-The-Art Incubation Facility in Gurugram To Promote Entrepreneurship in Blockchain Technology

Mr. S. Krishnan, Ministry of Electronics & Information Technology Secretary inaugerating APIARY COE Incubation Facility

The facility was inaugurated by Ministry of Electronics & Information Technology Secretary Shri S. Krishnan

Software Technology Parks of India (STPI) has marked a significant milestone as the Ministry of Electronics & Information Technology (MeitY) Secretary Shri S. Krishnan inaugurated a state-of-the-art incubation facility of the Apiary Center of Entrepreneurship (CoE) at STPI-Gurugram. This momentous occasion was attended by Shri Sushil Pal, Joint Secretary, MeitY; Shri Pankaj Thakar, Chief Mentor, Shri Arvind Kumar, Director General, STPI; Shri Devesh Tyagi, Senior Director, STPI and Dr. Rajneesh Agrawal, Director, STPI-Gurugram.

Apiary is one of the CoEs of STPI which is focused on Blockchain Technology and is set up in collaboration with MeitY, STPI, Govt. of Haryana, Padup Ventures, IBM, Intel, GBA, and FITT. This CoE is a first-of-its-kind initiative to identify and support promising startups and promote entrepreneurship in the field of Blockchain Technology. It has a fully furnished incubation infrastructure of 7,000 sq. ft. equipped with 80 plug-n-play seats, conference rooms, and an auditorium. It targets to incubate an overall 100 startups in a period of 5 years.

 

During the inauguration, Shri S. Krishnan took a walk-through of the Apiary incubation facility and interacted with the young entrepreneurs.

“Meeting the young entrepreneurs was quite an enriching experience. The way these entrepreneurs have addressed real-world problems using cutting-edge technology is really commendable. These entrepreneurs aren’t confined to national boundaries and this quality distinguishes them from others. In the last three decades, the way we have used technology is the key benchmark for our country’s exponential growth,” said Shri S. Krishnan, Secretary, MeitY.

Shri Sushil Pal, Joint Secretary, MeitY, said, “Blockchain technology can be sustainable for our economy. It can be used right from supply chain to waste management. It has the potential to become an enabler in sustainable growth.”

Shri Arvind Kumar, Director General, STPI said, “Apiary CoE's incubation facility will bring a new revolution in the technology sector. Blockchain technology has a lot of potential and is considered to be the biggest invention since the internet. This incubation facility at Apiary CoE is a stepping stone towards India’s digital transformation.”

The inauguration was preceded by a conference on Sustainable Development Goals Thru Web 3.0, under which two sessions “Sustainable Development Goals With Web 3.0: Challenges and Opportunities” and “Business Transformation with Web 3.0” were organised. The speakers Shri Pankaj Thakar, Chief Mentor Apiary CoE & Founder PadUp Ventures; Shri Subodh Sachan, Director (Startup & Innovation); STPI Shri Amit Jindal, Mentor Apiary CoE & President Government Blockchain Association (NCR); Smt Anshu Bhartia, Ex-CEO UnLtd India Social Incubator and Shri Avneesh Saksena Management Consultant, Mentor and CEO & Executive Coach shared insights with young entrepreneurs in the audience.

About STPI Apiary COE

Apiary has been set up at STPI, Gurugram to offer a substantial opportunity to innovative start-ups working in this technology to address issues that necessitate the usage of Blockchain for the establishment of trust in a decentralized manner and other purposes. Apiary CoE provides comprehensive support to startups (in the form of a dedicated Blockchain platform, access to Technocrats, mentorship, mentoring programs, VC funding, etc., and collaboration with all ecosystem players) with the ultimate objective of making India a world leader in technology space and creating a pipeline of future jobs-creating businesses.

Arya.ag Launches Agri Loans on Blockchain

Revolutionary Initiative Ensures Accuracy, Trust, and Rapid Loan Disbursement in the Agri-Value Chain.

Arya.ag, India’s largest and only profitable grain commerce platform, has launched agri loans on the blockchain. Warehouse receipt loans disbursed on its fintech arm and NBFC, Aryadhan, shall be processed on its blockchain to offer users absolute trust and transparency.

Arya.ag has tokenised commodities stored in its warehouses, and this development now enables it to board its disbursements on the blockchain.

“Trust and transparency are key values for us at Arya.ag. Porting all disbursements on the blockchain while making payments in under five minutes will mark a significant leap in the efficiency of agri-lending services. The blockchain will ensure unprecedented visibility and assurance to control all physical risks in commodity storage and finance,” said Prasanna Rao, CEO of Arya.ag.

Partnering with 35 financial institutions, including banks and NBFCs, Arya.ag has emerged as a key player, managing 7.6 million tonnes of commodities with an AUM of 3 billion USD in the last financial year. “We look at collaborating with other lenders to move commodity-based warehouse-receipt financing onto the blockchain and improve the overall transparency, speed, and reliability of these transactions," said Rao.

Navigating the agricultural lending landscape presents a fundamental challenge of establishing trust between the lender and borrower. Arya.ag solves for this through its blockchain. Arya.ag stands as the trusted custodian for every token generated, safeguarding against duplicate pledges and ownership conflicts. Upon a pledge, a smart contract initiates, allowing banks to assign a distinct identifier for the token lien. This procedure guarantees the exclusivity of each pledge while offering banks a consolidated view on all pledged commodities.

Moving the lending process to a blockchain would not only expedite transactions but also significantly enhance security and trust among participants. The decentralised nature of blockchain ensures immutable record-keeping, making the data transparent yet secure and virtually tamper-proof, thereby reducing fraud and errors. Additionally, such a move would standardise procedures and documentation, facilitating smoother interactions among various stakeholders in the commodity trading and financing sectors.

Arya.ag collaborated with Newrl, a decentralised trust network blockchain to develop this infrastructure. For now, Arya.ag’s ledger has 3.2 million metric tons of commodities stored across 894 warehouses on the blockchain network. Through this initiative, Arya.ag is creating a world of faster, safer transactions not just for big business but, importantly, for smallholder farmers, too. This technology levels the playing field, giving them quicker, more secure access to the funds they need to thrive.

ABOUT ARYA.AG

Arya.ag, India's largest and fastest-growing integrated grain commerce platform, eliminates the trust deficit in the grain commerce value chain. Its disruptive integrated PAN India platform delivers value to all stakeholders by enabling access to high-quality produce, products, and services. Powered by an exponentially growing layer of visibility and control currently stretching across 425 districts in 21 states, 11000 warehouses, and USD 3 billion of grain, Arya.ag offers the assurance of quality supply to buyers and on-time fair payment for their produce and allied services to sellers. It seamlessly embeds finance to maximise value for both sellers and buyers, and the platform facilitates over USD 1.3 Bn of finance annually. More at www.arya.ag

Uttar Pradesh Govt Approves 100+ Research Studies on AI and Blockchain of ₹14 Cr Expenditure

With an aim to push technology, the Uttar Pradesh (UP) government’s Department of Science and Technology has granted approval for 109 research studies to be conducted by leading educational institutions in the northern state.

These studies are approved to research use of emerging technologies like artificial intelligence and blockchain in sectors like healthcare and renewable energy, by leading educational institutes, including IIT-Kanpur, MNNIT and KGMU.

To recall, in July the Yogi Adityanath-led UP government had announced its plan to develop major cities as Artificial Intelligence (AI) and Information Technology (IT) Hubs.

These state government-funded research would cost an expenditure of ₹14 crore and aims to develop applications and systems that tackle pressing issues such as early throat cancer detection in tobacco users, correcting sitting posture among desk workers, and assisting individuals with disabilities through specialized wheel chairs.

One of the approved proposals include an AI and IoT-based real-time posture correction system to be developed by the Motilal Nehru National Institute of Technology, Prayagraj (Allahabad). This system will provide warnings to desk workers whenever their posture is incorrect, addressing issues such as back pain and spondylitis caused by sitting for long periods.

An another project is to be developed by IIT-Kanpur, which is a healthcare application using AI and advanced endoscopic imaging for the early detection of cancer in individuals who consume paan and tobacco. This application aims to facilitate early diagnosis and treatment to prevent loss of life.

Kanpur's Ambedkar Institute of Technology for Handicapped has got approval for projects involving the development of a helmet-controlled electronic vehicle wheelchair utilizing artificial intelligence and IoT principles.

Additionally, research will be conducted by various institutions to promote the renewable energy sector in Uttar Pradesh.

The approval for these research proposals was granted during a meeting held in Lucknow on October 5, which was chaired by Narendra Bhooshan, the Principal Secretary of the Department of Science and Technology and the Director General Council of Science and Technology.

Earlier in April this year, Uttar Pradesh based Madan Mohan Malavi University of Technology of Gorakhpur (MMMUT Gorakhpur) announced to launch a new initiative, under which the University is preparing to send satellites into space with the aim of giving further new height to research. 

PayPal Files Patents for NFT Marketplace, Omniverse and More

Fintech giant PayPal has filed multiple patent applications including the transfer and trading of Non-Fungible Tokens (NFTs), both on and off-chain, within its network.

NFT Marketplace

According to one of the four patent applications, which were filed on March 21, 2022, but only made public on September 21, the system enables “off-chain transaction via an NFT marketplace,” and will allow users to transfer NFTs in their possession to other users on the PayPal.

According to the abstract included in the patent application, “A plurality of digital wallets associated with a service provider are provided with access to the NFT marketplace. The NFT marketplace corresponds to a decentralized blockchain associated with an entity that is different from the service provider.”

Going forward, a decentralized autonomous organization tied to the service provider might be leveraged to enhance NFT liquidity on a dedicated platform.

In addition, fractionalized NFT purchases could also be a possibility of PayPal's proposed NFT ecosystem described in the patent application.

Selection of Validators in  Decentralized Cryptographic Network

In an another patent, PayPal pending patent mentions how validators or miners should be selected during the process of adding transactions to the blockchain. The document states that the company’s disclosed techniques could “advantageously allow steering of blockchain requests to a desired subset of miners/validators.”

The pending patent application discuss techniques relating to selection of miners/ validators in a decentralized cryptographic network. It further says, "In some embodiments, a request to add a transaction to a blockchain includes a cryptographic signature associated with provision of a second transfer fee, in addition to a first transfer fee, to miners/validators who meet a set of one or more criteria. The techniques may advantageously allow steering of blockchain requests to a desired subset of miners/validators.

Omniverse 

The third patent filed by PayPal delves into the concept of a so-called omniverse, which in this context suggests a product that deals in multiple metaverses. PayPal says it developed an “online transaction processor” that would provide recommendations for which digital assets a user should buy based on the user’s blockchain preferences and which metaverses they interact with most.

In early August, PayPal also announced its new dollar-backed stablecoin, PayPal USD ($PYUSD), which marked the first time a major U.S. financial company created this type of digital asset.

Later in the same month, PayPal updated its terms and conditions to introduce its new ‘Cryptocurrencies Hub’ feature, which allows users to hold and interact with Bitcoin and cryptocurrencies through their PayPal account.

Online Transaction Processor

The fourth patent filed, and in pending stage, describes another conceptual online transaction processor. The patent application's abstract mentions, "An online transaction processor may provide operations for digital asset recommendations and processing in one or more metaverses. The online transaction processor may determine digital assets available to a user in one or more digital wallets, as well as interactions by the user in one or more metaverses."

This processor’s goal is to facilitate payments between users and merchants operating on different network layers (layer-1s and layer-2s) in a more efficient manner.

A layer 2 refers to any off-chain network, system, or technology built on top of a blockchain (commonly known as a layer-1 network) that helps extend the capabilities of the underlying base layer network.

These multiple patents filings by PayPal comes at time when a latest report suggested that 95% of people holding NFT collections are currently holding onto worthless investments.

UPI Creator NPCI is Hiring for Blockchain Technologists Role

The National Payments Corporation Of India (NPCI) — the creator of instant payment system UPI — is now hiring for the role of Blockchain Technologists with senior leadership profile, to head and identify avenues wherever blockchain-driven solutions can be used.

Led by India's Central Bank - RBI, NPCI had posted a job on LinkedIn that confirmed NPCI’s ongoing drive to hire a head of Blockchain in Mumbai/Hyderabad as mentioned locations

This also hints that NPCI is looking to include blockchain technology in one or more of its products that include UPI, RuPay, BharatQR, Digital Rupee (e₹) or e-Rupee and Bharat Bill Payment System, among others. Introducing blockchain into UPI's framework would potentially introduce the technology to a massive user-base, that UPI has, almost immediately.

According to the job posted by NPCI, the profile is for Mumbai & Hyderabad locations and requires candidate "to liaisen with internal and external stakeholders to understand business processes and identify avenues wherever blockchain-driven solutions can be used. Conduct POC for the identified process area, in collaboration with various teams, to establish feasibility and proposed efficiency/ cost/ security improvements" said the job posted."

The ideal candidate will be a seasoned technologist with at least six years of experience in developing and implementing blockchain and demonstrable experience of working on at least 2 pilot blockchain projects.

NPCI requires the candidate to "Own the entire implementation lifecycle and ensure support to the respective functions, after implementation, upto stabilization of change. Must have undertaken blockchain-related interventions at a financial services organization."

Besides being a revolutionary system in home-country, UPI has also caught the attention of various other countries. Financial institutions in Singapore, Malaysia, the UAE, France, Benelux nations, Nepal, and the United Kingdom have adopted and implemented UPI to different extents.

Reliance Industries' JFS To Enter Web3 with Blockchain and Digital Currencies

Mukesh Ambani promoted Reliance Industries' demerged financial division – Jio Financial Services – plans to explore blockchain and Central Bank Digital Currencies (CBDCs) including the eRupee, which is currently in advanced trials in India.

Mukesh Ambani, one of the world's richest men, annnounced this Web3-related plans during the 46th annual general meeting of Reliance Industries (RIL) that was held on Monday.

"JFS will consolidate its payment infrastructure, with a ubiquitous offering for both consumers and merchants further driving digital adoption for India," Ambani said. "JFS products will not just compete with current industry benchmarks but also explore pathbreaking features such as blockchain-based platforms and CBDC. They will adhere to the highest standards of security, regulatory norms and ensure protection of customer transaction data at all times."

Notably, RIL's other subsidiaries like Reliance Retail and General Insurance service are already accepting eRupee, a CBDC of India.

Late last month, Jio Financial Services partnered with Blackrock to form Jio BlackRock, a 50:50 joint venture that combines the respective strengths and trusted brands of BlackRock and Jio Financial Services.

For Web3, RIL had already anticipated the foray into the segment when in February of last year, Jio Platforms, an another subsidiary of RIL, had invested $15 million in Pranav Mistry founded deep-tech startup, Two Platforms Inc. (Two), for 25% equity stake acquisition in the startup.

ZebPay Unveils CryptoPacks to Streamline Crypto Investments with Curated Portfolios

ZebPay, India’s oldest crypto asset exchange, today announced the launch of a new feature, CryptoPacks, that will enable crypto enthusiasts to effortlessly invest in well-balanced, thematic portfolios of crypto assets. The portfolios are meticulously designed to allow investors to take a sectoral approach to investing.

The BlockBuster Pack, for example, gives investors exposure to a diversified curation of leading crypto assets with high global adoption and overall market cap. The Metaverse or Layer 1 Packs, on the other hand, allow users to invest in the long-term potential of leading projects with specific blockchain use cases. With a wide range of portfolios to choose from, ZebPay is actively empowering users to diversify their holdings based on strategic asset allocations.

Users can access the CryptoPacks feature directly through ZebPay’s mobile and web applications. CryptoPacks will not only help users save time but also help users evaluate the Risk and Reward dynamics of their investments effectively.

CryptoPacks presents a multiplicity of elements such as a comprehensive performance overview, that will allow users to monitor their portfolio's historical progress over varying timeframes. Additionally, its innovative Risk and Reward Rating system will provide insightful perspectives on investment risks and potential rewards, empowering well-informed decisions in line with their risk appetite. CryptoPacks ensure strategic risk management and optimized returns by facilitating diversified allocation across multiple crypto assets in a single step. The feature also offers users a simplified, real-time view of profits and losses, enabling quick comprehension of investment growth trajectory and data-driven decisions on buying, selling, and holding assets.

Rahul Pagidipati, CEO, ZebPay, said, “ZebPay remains committed to empowering users with innovative solutions that simplify crypto investing. With the introduction of CryptoPacks, we are proud to offer a seamless way to make informed investment decisions by providing access to thematic, diversified portfolios and effective performance tracking. At ZebPay, we understand the intricacies of crypto investments, and the introduction of the CryptoPacks feature is a significant step in our ongoing journey to make crypto investments more accessible to investors across all experience levels."

The launch of CryptoPacks underlines ZebPay's continuous efforts towards delivering user-centric solutions that drive growth and education within the crypto ecosystem.

ZebPay is India’s oldest crypto asset exchange, with more than 7 million downloads. Founded in 2014, ZebPay aims to be the leading blockchain asset solution provider and the #1 financial advisor for all Indians invested in the crypto space. The company’s mission is to help its members achieve financial freedom in the Web3 economy. ZebPay’s secure and compliant exchange is available via the web and on the Google Play Store and Apple App Store. ZebPay also operates an exchange in Australia and Singapore, serving 162 countries. ZebPay members can invest in Bitcoin, Ethereum, and 150 other crypto assets, trading both crypto-fiat and crypto-crypto pairs. ZebPay OTC, a bespoke trading desk for high-volume clients, serves both individuals and institutions. For more details, please visit: https://zebpay.com/otc/

Beyond the Hype: Unraveling the Real-World Applications of Algorand's Blockchain

Photo by Shubham Dhage on Unsplash

Algorand has emerged as a viable platform among the rising fervor surrounding blockchain technology, going beyond the hype to provide practical real-world applications. Businesses, developers, and governments are all interested in Algorand's blockchain because of its scalability, security, and decentralization. This essay will examine the numerous and useful uses of Algorand's blockchain, illuminating how it is reshaping numerous industries and stimulating innovation.

Enhancing Financial Transaction Speed

• High transaction speed of Algorand: Algorand's distinct consensus algorithm allows it to perform thousands of transactions per second, allowing for almost immediate settlement. In the financial markets, where quick transactions are essential, this speed is especially valuable
• Algorand is suited for microtransactions due to its cheap transaction fees, which opens up new opportunities in the growing economy, such as internet-of-things (IoT) micropayments and pay-per-use services

Supply Chain Management Streamlining

• Enhanced traceability: Algorand's blockchain offers complete supply chain tracking for products and items. Businesses can use Algorand to trace and verify the origin and movement of products, from food safety to luxury goods verification
• Reducing the danger of fraud and counterfeiting: Algorand helps reduce the risk of fraud and counterfeiting by recording every step in the supply chain on an immutable ledger, improving consumer confidence and safety

Revolution in Decentralised Finance (DeFi)

• Staking and yield farming are both possible on the Algorand blockchain because to the DeFi protocols, which let users receive rewards for staking their tokens and taking part in yield farming on the network
• Decentralized exchanges (DEXs): Algorand's blockchain serves as the basis for DEXs, giving consumers access to safe and transparent trading environments without the involvement of middlemen

Digital Identity Security

• Self-sovereign identity: With Algorand's blockchain, people may be in charge of their online personas, lowering the possibility of identity theft and preserving their privacy
• Credentials that can be verified: Algorand uses the tamper-resistant characteristics of blockchain to enable the issuance and verification of digital credentials like diplomas and licenses

Governance and Elections

Photo by fabio on Unsplash

• Voting that is open and impenetrable: Governments and organizations can use Algorand's blockchain to create safe, open, and transparent voting procedures that improve election integrity and lower the risk of fraud
• Decentralized governance: Algorand's governance features allow users to take part in protocol updates and decision-making, promoting a decentralized and user-driven ecosystem

Asset Tokenization

• Asset digitization: Algorand makes it possible to tokenize physical assets like real estate, artwork, and commodities. Due to this, markets that were previously illiquid are now more liquid and allow for fractional ownership
• Lowering barriers: Algorand lowers entry hurdles for investors by digitizing assets, enabling them to access formerly exclusive investment possibilities

Tokenization of Real Estate and Fractional Ownership

• By enabling asset tokenization, Algorand's blockchain is revolutionizing the real estate sector. Traditional real estate investments frequently demand sizable sums of money, which restricts access to expensive homes. However, Algorand's blockchain enables the tokenization of real estate assets, dividing them into smaller parts that are simple to sell. A wider range of investors now have access to investment options, which encourages more liquidity in the real estate market
• Additionally, property transfers become simpler thanks to tokenization on the blockchain of Algorand. It simplifies the acquisition, sale, and transfer of ownership, increasing the effectiveness and efficiency of real estate investments. Algorand also uses smart contracts to make sure that everyone abides by the agreements that have been agreed upon, which increases security and confidence in real estate transactions

NFTs (Non-Fungible Tokens) and Gaming

• An increasingly common option for gaming platforms and NFT marketplaces is Algorand. NFTs are distinctive digital assets that signify ownership of digital or tangible goods, including virtual properties, in-game objects, and pieces of art The scalability and affordability of Algorand's blockchain make it the ideal platform for NFTs
• Algorand's blockchain is being used by gaming companies to produce verifiable and limited-edition in-game goods. These assets can be safely owned and traded by users, and developers can quickly include blockchain technology to improve the value of their gaming environments
• Artists, musicians, and other creators are given the ability to tokenize and sell their digital works directly to collectors through the NFT markets built on Algorand. By enabling artists to directly connect with a worldwide audience without the need of middlemen and by guaranteeing the provenance and authenticity of their work, this democratizes the arts and creative industries

Medical Records and Healthcare

Photo by National Cancer Institute on Unsplash

• Through the safe management of medical records and health data, Algorand's blockchain is demonstrating its potential to revolutionize the healthcare industry Algorand makes sure that patient data is kept private and accurate by storing it on an immutable, tamper-proof ledger
• Patients are in charge of their medical records, giving consent for healthcare professionals to view particular data. The risk of data breaches and unauthorized access is reduced thanks to this patient-centered approach's improved data security and confidentiality
• Algorand's blockchain's interoperability further enables frictionless data interchange between healthcare organizations, boosting care coordination and advancing medical research

Beyond the hype and conjecture, Algorand's blockchain is significantly advancing the transformation of companies and fostering innovation in a variety of fields. Algorand is enabling practical applications outside of traditional financial transactions by putting a strong emphasis on scalability, security, and decentralization. Algorand's blockchain is proven to be a game-changer in a variety of fields, from secure digital identity and voting systems to decentralized banking and supply chain management. It is anticipated that Algorand's technology will continue to have an increasing impact on the world economy and society as more companies, developers, and governments realize its potential. The advantages and usefulness of Algorand's blockchain are building the groundwork for a decentralized and open future where security, efficiency, and trust are of utmost importance.

Hyundai Motor and Kia Introduce AI-enabled and Blockchain-based Carbon Emission Monitoring System

Two major Korean multinational automobile manufacturers — Hyundai Motor and Kia Corporation — introduce an AI-enabled, blockchain-based Supplier CO2 Emission Monitoring System (SCEMS) to support their partner companies to efficiently handle global environmental regulations. It is to be noted that Hyundai Motor is the parent company of Kia Corporation and the later comes under the umbrella of Hyundai Motor Group. 

The system, SCEMS, calculates emissions across partners' supply chains, and since its on top of blockchain tech it promises transparency and data integrity. It's also expected to ease suppliers' workloads in data collection and management, enhancing accuracy in carbon emissions monitoring.

Leveraging Artifical Intelligence (AI) and blockchain, Hyundai and Kia aim to proactively meet environmental regulations and foster sustainable supply chains, responding to climate change issues.

The SCEMS is designed to record and manage carbon footprints at every stage of the manufacturing process, starting from the extraction of raw materials to the production and delivery of parts and vehicles. This comprehensive approach allows Hyundai and Kia to gain better control over their carbon reduction initiatives.

Both the companies have successfully verified the effectiveness of the high-performance blockchain technology and adopted it to accomplish their critical goal of promptly and securely collecting carbon emissions data.

Hyundai Motors and Kia would distribute the SCEMS free of charge to suppliers/partners that make up the automotive supply chain to support carbon emission reduction activities throughout the supply chain.

When partners input essential data that suits their circumstances into the SCEMS system, the artificial intelligence automatically provides information on carbon emissions and predicts what will occur in the future.

The system also expected to relieve suppliers from this time & cost consuming work and enable them to manage their carbon emissions with accuracy. With SCEMS, which is powered by AI and high-performance blockchain technology, business partners can efficiently monitor and manage the collected data and carbon emission status at their respective workplaces.

This year in February, Hyundai and Kia joined the Carbon Disclosure Project's (CDP) "CDP Supply Chain" program, conducting capacity-building training on carbon neutrality for partner companies facing challenges in their independent response.

CDP was established as the 'Carbon Disclosure Project' in 2000 as a non-profit organization, asking companies to disclose their climate impact. Over the time since its establishment, CDP has broadened the scope of environmental disclosure, to incorporate deforestation and water security, while also building its reach to support cities, states and regions.

Companies participating in the program submit data to CDP, including energy consumption and greenhouse gas emission status, carbon neutrality strategies, progress in goal setting and execution, and plans and achievements related to the renewable energy transition, and undergo evaluations.

Binance Academy: Data Shows Increasing Interest in Blockchain Amongst Indian Youths

Binance Academy, the educational platform of the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, shared that more youths in India are getting into Blockchain education. Based on data, the majority of Binance Academy users in India are aged between 19 to 25 years old (42%), followed by 20% aged between 31 to 40 years old and 17% aged between 26 to 30 years old. Among Indian users, the Binance Academy modules that saw the highest number of enrolment and time spent are Introduction to Blockchain Technology and Brief history of Blockchain technology.

Launched in 2018, Binance Academy provides a wide range of content including articles, guides, videos, and glossary entries, catering to various skill levels and interests. Closing the knowledge gap is essential when it comes to crypto, which is a nascent industry that is fast-growing and runs on cutting-edge technology. Therefore, Binance offers free educational resources to users through Binance Academy, which is accessible on the website, to bridge the knowledge gap that many blockchain beginners have. Here, we take a look at some of the educational initiatives.

Advancing Web3 Education through Binance Academy

Binance Academy has been working closely across the globe to increase crypto literacy and ramp up efforts on Web3 education. The Binance Academy platform is readily available for everyone with internet access. Data showed that the three Indian states with the highest number of enrolment are namely West Bengal (13%), Uttar Pradesh (11%) and Maharashtra (9%). Aside from allowing easy access to educational resources through the Binance Academy platform, Binance also brought Web3 education to the local institutions.

Last year, Binance held a free webinar called “Crypto for All”, where major finance influencers including Neha Nagar, Aditya Saini, and Kashif Raza introduced the fundamentals of blockchain and crypto. In that year, the “Blockchain for Good” Ideathon was also initiated together with the Inter-Institutional Inclusive Innovation Centre (i4c). The ideathon provided a platform for college students across India to come up with solutions that would make the blockchain ecosystem more inclusive and accessible for all.

Most recently, Binance Academy announced a partnership with Coursera, one of the world’s leading online learning platforms with over 124 million learners globally. This collaboration will bring educational opportunities to everyone globally in the form of a comprehensive suite of learning programs launching over the next few months and beyond.

The programs will cover a broad range of topics and will be tailored to cater to both individuals looking to gain a foundational understanding of blockchain, web3 and crypto technologies for those who wish to build the right skills to pursue a career in the blockchain industry. Successful completion of these courses will earn learners a digital certificate of completion, which can help demonstrate knowledge and open up new opportunities in this rapidly growing field.

Powering Web3 Education with AI-driven Learning Tool

Learning experience today has been redesigned by the proliferation of the use of artificial intelligence technology. To meet the evolving needs of users, Binance introduced Binance Sensei, which leverages the power of artificial intelligence to help users access the wealth of knowledge available on Binance Academy in a more intuitive manner.

Launched in April 2023, Binance Sensei is an innovative AI-driven learning tool that is seamlessly integrated with Binance Academy. Powered by state-of-the-art ChatGPT technology, Binance Sensei has been instructed to deliver relevant and easily digestible information. This user-friendly approach makes it easier than ever to dive into complex topics or quickly grasp new concepts, catering to a wide range of learning styles and preferences. With Binance Sensei, users can now leverage on its AI-powered capabilities to make it the perfect companion for anyone looking to expand their knowledge in the rapidly evolving world of blockchain and cryptocurrency.

Yi He, Binance co-founder and Chief Marketing Officer said: “Education is the cornerstone of progress and innovation. This is a belief that has guided us at Binance Academy, as we strive to make the revolutionary world of blockchain technology accessible to everyone. We are thrilled to announce our partnership with Coursera. Together, we're combining the strengths of two industry leaders with a shared vision - to provide best-in-class education that will drive adoption and build the foundations for Web3.”

Xceedance Makes Series A Investment in Vitraya, a Blockchain-based Tech Platform in the Healthcare Claims Sector

Xceedance, a global provider of digital transformation solutions, technology, and analytical services to the insurance industry, today announced a Series A equity investment in Vitraya Technologies, an India-based technology platform that enables automated claims decision-making for insurers and real-time payouts to providers. Xceedance, together with a consortium of investors, invested a total of $4.1 million into Vitraya at this stage.

Founded in India, Vitraya Technologies is revolutionizing claims decision-making and settlements in health insurance. Its holistic solution addresses the pain points of both hospital administrators and insurance companies. The platform uses AI and blockchain technologies to automate payment integrity, medical coding, and benefits administration for insurers. The automation ensures easy claims documentation and filing, reduced errors, document and information completeness, and minimal processing time for healthcare providers and insurance claims processors. Healthcare systems utilizing solutions from Vitraya Technologies report reduced claims administration costs, better process transparency, and improved efficiency. Insurers report reduced processing costs and lower fraud losses. 

“The work Vitraya Technologies is doing to enable claims decisions and payments in health insurance is impressive, making the decision to fund the organization at this early stage an easy one,” said Arun Balakrishnan, chief executive officer at Xceedance. “At Xceedance, we have made multiple investments in innovative insurtech organizations across global insurtech markets, but this is the first time we have targeted an India-based company. I look forward to being involved as Vitraya expands to serve larger segments of health insurance globally, starting with the Indian insurance and healthcare markets.”

“This strategic investment from Xceedance is an important enabler for Vitraya,” said Mrinal Sinha, chief executive officer at Vitraya, “Xceedance is a trusted name in the digital transformation of insurance. Working together with Xceedance, we look forward to making insurance claims processing efficient and fraud-proof across the world.”

About Xceedance

Xceedance provides strategic operations support, technology, and data services to drive efficiencies for insurance organizations worldwide. The company helps insurers launch products, implement intelligent technology, deploy advanced analytics, and achieve business process optimization. For more information, please visit www.xceedance.com.

About Vitraya

Vitraya Technologies is building out a tech platform to enable automated, real-time payouts and claims settlements between hospitals/healthcare providers and insurers who offer health insurance products to consumers and businesses. The company was incorporated in Mohali, Punjab on 18th February 2019. For more information, please visit www.vitrayatech.com.

TRST01 Launches India’s 1st Ever Blockchain-enabled Global ESG Tool – Footprint

• Hyderabad based TRST01 is India’s leading provider of blockchain solutions
• Footprint is the World’s 1st ESG Blockchain automation tool from India
• Designed to help organisations monitor, measure, analyse and report ESG performance
• In sync with the United Nations Sustainable Development Goals (SDGs)
• The tool incorporates the Sustainability Accounting Standards Board framework
• Allows Companies access to real-time verifiable environmental performance monitoring

TRST01 (TrayamBhu Tech Solutions Pvt. Limited), a leading blockchain climate-tech company, announces the launch of Footprint- World’s 1st ESG Blockchain automation tool.

It is a cutting-edge ESG automation tool designed to help organisations monitor, measure, analyse and report their environmental, social, and governance (ESG) performance. This will be first Global ESG automation tool product using web3 interface (Blockchain). 

The Footprint ESG automation tool has been developed to meet the growing demand for transparency and accountability in an organisation’s sustainability practices. With the tool's advanced features and functionalities, businesses can easily track their ESG performance and report their progress to stakeholders, investors and customers.

We must take responsibility and action to create an environmentally, socially and economically positive corporate footprint. It's a new beginning for reliable and automated environmental impact measurements powered and secured by blockchain.

“We make big promises at climate treaties and commit to ambitious goals to cut down on emissions, but are we even close enough to our sustainability targets? We must take responsibility and action to create an environmentally, socially and economically positive corporate footprint. Footprint by Trst01 is a game-changer to help you do just that”, said Prabir Mishra, CEO of TRST01

Footprint by TRST01 follows the latest ESG reporting standards, including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), and Carbon Disclosure Project (CDP). It also in sync with the United Nations Sustainable Development Goals (SDGs) to provide a comprehensive view of an organisation's ESG performance.

One of the critical features of Footprint is its industry-specific content that offers customized materiality topics arrangement. This feature enables companies to report the most relevant ESG metrics and critical issues for more meaningful engagement with investors, customers and other stakeholders.

Another essential feature of Footprint is its supply chain management reporting. The tool allows companies to track and report their suppliers' ESG performance, providing a comprehensive view of their supply chain sustainability practices. This feature is crucial as companies increasingly recognize the importance of responsible sourcing and sustainable supply chain practices.

Footprint by TRST01 has been designed keeping in mind an organisation’s triple bottom line – People, Planet and Prosperity. This simple easy to use tool helps companies track and report on their ESG performance, supporting their efforts to reduce their environmental impact, promote social responsibility and foster economic growth.

The ESG automation tool is blockchain-enabled, providing a secure and transparent way to verify the accuracy, authenticity and reliability of the ESG data. This is particularly important as companies face increasing scrutiny and pressure to disclose accurate ESG information.

"Footprint is a vital tool for any company committed to sustainability and social responsibility," said Mr. Suraj Teja, COO of TRST01. "With its advanced features, industry-specific content, and blockchain-enabled data integrity verification, ‘Footprint’ is poised to become the leading go-to ESG automation tool for companies looking to enhance their sustainability practices which will eventually reflect positively in their profits and prosperity."

About TRST01

TRST01 (Trust O One) is a Blockchain-technology company that uses emerging technologies to address Industry Pain points on Trust, Transparency, and Traceability. Its unique technology platform TRST01 creates pure technology dominance among products and services to address the newer challenges in Digital Transformation, New Normal, and Industries 4.0. The focus is to cater to diverse industry issues by delivering Blockchain Solutions suited to business requirements. TRST01 primary focus is on Blockchain technology Climate, Agriculture and Food.

Antier School of Blockchain Set to Script Growth Story of Punjab 3.0

• ASB’s F60Day Program will convert any Web 2.0 engineer into Web 3.0 engineer within two months through a proven model currently operational in Antier
• Antier committed to partnering with all colleges and universities of the region to achieve optimum results
• The world’s largest blockchain consulting firm, Antier aims to develop Mohali as ‘Blockchain Capital of India’ by acting as a stimulus to facilitate a tech ecosystem for businesses to thrive
• Launches First 60-Day Program under the aegis of Antier School of Blockchain (ASB)
• ASB aims to upskill fresh engineering graduates in Punjab and make them industry ready, building a base of largest number of blockchain engineers for the next 10 years

Striving to give a strong impetus to Punjab’s long-term economic growth by developing Mohali as the Blockchain Capital of India, Antier, the world’s largest blockchain consulting company, today announced the launch of its First 60-day (F60Day) Program under the aegis of Antier School of Blockchain (ASB) with the greater purpose of enabling businesses to stay a in head of the curve by adopting new technologies and generating employment by making students industry-ready through upskilling to prepare them for Punjab 3.0.

While the second phase of the growth story of post-Independence Punjab was powered by the Green Revolution, the state is now on the cusp of a technology-driven revolution signified as Punjab 3.0.

Having a 600-strong workforce, the largest among all blockchain companies the world over, Mohali-based Antier aims to turn the city into a tech hub on the lines of Bangalore with ASB acting as a stimulus to facilitate a tech ecosystem for businesses to thrive, thus benefiting startups, business owners, big tech companies and policymakers alike. These conducive conditions for growth will, in turn, attract more FDI to Punjab and turn it into an attractive investment destination.

Elaborating on his idea and vision behind ASB, Antier CEO and Founder Vikram R. Singh said, “By establishing industry-academia linkages to create a flourishing business ecosystem in Punjab in collaboration with the government, private enterprises and colleges, we want to make the most of the immense employment generation potential of blockchain by providing trained manpower. We aim to build a base of the largest number of blockchain engineers in Punjab for the next 10 years, and we have all the expertise and infrastructure to accomplish this,” said Vikram.

The F60Day Program will not only convert any Web 2.0 engineer into a Web 3.0-ready engineer within two months through a proven model currently operational in Antier, but will also help in attracting foreign IT companies to Punjab. “There are 174 Engineering colleges in Punjab, including 148 private and 26 public colleges, and we are open to collaborating with all those who want to avail our services to achieve optimum results. To begin with, blockchain should be made a part of the curriculum as a specialisation in all technical colleges across the state,” Vikram said.

The availability of talent is the key differentiator for the booming tech industry in Tier1 cities. Whenever a multinational sets up its base in any region, not only does it improve the financial status of people and advance the economic growth of that region, but also brings along world-class tools to train resources in terms of aptitude and attitude.

Vikram maintained that blockchain can create so many jobs in Punjab that its youth would no longer have to go out in search of better avenues. “While 1 lakh students migrate from Punjab every year for education, our industry-relevant courses will stem this tide and enhance the employability of tech graduates,” he said.

ASB will also create a positive impact on the startup culture in the state by providing solutions which are both saleable and scalable and enabling the smooth transition of new businesses from conventional technology platforms to blockchain-driven systems.

Antier had launched ASB as a pilot project internally four years ago by formulating the F60Day Program and establishing a training lab. ASB has already trained more than 500 resources, which form a part of Antier’s 600+ workforce.

Blockchain is the epitome of tech in the future, which is expected to create 10 million jobs in India by 2030.

ℹ️ Blockchain is a shared and immutable ledger that facilitates the process of tracking, tracing, trading and recording transactions and assets for businesses in a highly secure and transparent network. The future of technology, blockchain networks increase trust and reduce risk while allowing the trading and tracking of anything that holds value. Blockchain delivers many advantages to businesses, like cost savings as a result of increased speed, efficiency and automation. By significantly reducing paperwork and errors, it reduces overhead and transaction costs considerably and does away with the need for intermediaries to verify transactions. The blockchain ledger cannot be accessed by members without permission. Members in a blockchain network can control the information other members might see and the actions they might take.

About Antier:

Founded in 2011, Antier is a blockchain consultancy firm which has created a niche for itself by coming up with many scalable and saleable solutions that are poised to cause disruption in the fintech world. Its service basket includes blockchain development, metaverse development, mobile app development, smart contract development, DeFi, NFT development and digital marketing.

Having a global presence in the UK, US, Canada and India, Antier is empowering gaming companies to use blockchain and build better metaverse gaming products. The company has taken upon itself to help businesses adopt new technologies to stay ahead of the curve. Its rigorous research, design thinking-driven approach and unmatched solutions in strategy, consulting, technology and operations have created an innovative roadmap to enable the smooth transition of enterprises from conventional technology platforms to blockchain-driven systems.

Walmart Files New Crypto and NFT Trademarks

Global retail giant Walmart has recently filed for new Crypto, Blockchain Trademarks Via Sam's Club, an American chain of membership-only retail warehouse clubs that is owned and operated by Walmart Inc.

Founded by Walmart's founder Sam Walton himself, Sam's Club has filed for several blockchain-related patents. While it isn’t entirely clear what the retail giant’s plans are, the trademarks all related to cryptocurrencies, non-fungible tokens, and virtual reality.

Walmart is now jumping into the digital and blockchain bandwagon by filing for crypto and NFT trademarks. Sam's Club is now garnering the crypto waters as the retailer recently offered healthcare services that cater to the augmented reality and virtual space.

Walmart filed a couple of trademarks that will allow it to manage NFTS, offer digital goods, and also provide crypto-based software. Early in 2018, Walmart has already shown its interest to jump into the blockchain waters, specifically with the launch of Bulkcoin, which is exclusive to members of the Club.

According to the US Patent and Trademark Office website, Walmart filed for several new trademarks pertaining to blockchain services. The records numbered 97775159 and 97775152 are intended to enable the retail giant’s subsidiary Sam’s Club to offer numerous virtual goods.

The patents filings make mention of a digital currency and NFTs, as well as virtual and augmented reality healthcare and education. The trademarks reveal plans for the launch of a wallet, and perhaps other software aimed at organizing digital asset portfolios.

In early last year, multiple reports claimed that Walmart is preparing to enter the Metaverse as it filed for its first round of NFT-related trademarks already in late 2021.

To recall, in October 2021, Walmart started  selling Bitcoin in a pilot programme by hosting the ATM-like machines of Coinstar, a crypto wallet and crypto exchange company.

In 2018, Walmart has already shown its interest to jump into the blockchain waters, specifically with the launch of Bulkcoin, which is exclusive to members of the Club.

The Evolution Of Blockchain Technology: A Comprehensive Timeline

Thanks to Hitesh Choudhary @hiteshchoudhary for making this photo available on Unsplash 🎁 https://unsplash.com/photos/JNxTZzpHmsI

Blockchain technology has revolutionized how information is stored, shared, and exchanged. Starting as a concept in a paper written in 2008 by Satoshi Nakamoto, a pseudonymous figure, blockchain has since evolved into a powerful tool used in various industries.

This technology has the potential to revolutionize the way we do business, and its evolution over the past decade has been rapid and exciting. Cryptos are used for various purposes, including shopping and betting. For example, you can easily place live cricket odds on Parimatch with digital currency.

We will analyze the events that propelled blockchain forward and discuss the implications of these developments for the future. We will also look at some of the most popular applications of blockchain technology and explain why it has become such an integral part of our lives.

What is Blockchain?

If you’re not yet familiar with blockchain technology, it’s essential to understand what it is and how it works. Blockchain is a decentralized network of records—essentially, it’s a database that is not held by one central source and is instead accessed by many different parties.

This database is stored and maintained across a computer network that executes ongoing computations. These computers are called nodes, and they communicate with each other to keep the database and process transactions.

Let’s expand on this definition by looking at the components of a blockchain network and its functions.

Data Structure: A blockchain network consists of blocks that store data linked together through a hash function. Data stored in a blockchain is distributed among all the nodes. Anyone with access to the network can access it.

Mining: Mining is adding new blocks to the blockchain network and validating transactions to add them to the blockchain. Miners are incentivized to perform this work by earning rewards from cryptocurrencies or tokens.

Smart Contracts: These are self-executing contracts that are executed when certain conditions are met. With a smart contract, only a few people can access the information needed to evaluate the contract's requirements and initiate its execution.

Public Ledgers: When data is stored in a blockchain network, it is available to the public. While data is encrypted to maintain security, anyone accessing the network can view it.

The Origins of Blockchain Technology

The beginnings of blockchain technology date back to 1990. This concept would allow people to pay each other without an intermediary and was the precursor to the blockchain.

Although this idea wasn’t implemented, it paved the way for the creation of Bitcoin, the first blockchain network. Bitcoin was created in 2008 by a pseudonymous figure known as Satoshi Nakamoto and was used as a form of digital cash.

It was the first use of blockchain technology and introduced the world to decentralized networks. It also spurred further innovation in the industry and led to the creation of other blockchain networks.

Significant Milestones in the Evolution of Blockchain

2008: Bitcoin is created as the first blockchain network. It marks the beginning of the evolution of blockchain.

2010: The first blockchain use case outside of the financial sector is explored by IBM. They experiment with tracking commodities such as coffee and diamonds. -

2011: The Commonwealth Bank of Australia filed the first blockchain patent.

2012: The first blockchain conference is held in San Francisco, followed by several more annual events.

2013: Ethereum is first conceptualized and later launched in a crowd sale. Many startups have begun exploring blockchain and its uses.

2014: Blockchain technology begins to be explored outside the tech sector and is applied in the music industry.

2015: The first distributed ledger is created that follows blockchain principles. -

2016: International organizations begin to investigate the uses of blockchain. Major technology companies have started to explore blockchain and create blockchain-related products.

2017: Blockchain technology is explored beyond the financial sector and is applied in many industries.

2018: Blockchain technology evolves beyond cryptocurrencies and is applied in new ways across many industries.

The Rise of Cryptocurrencies

As blockchain technology grew, it was discovered that it could be used to create cryptocurrencies. The first of these digital currencies was Bitcoin, and the following currencies were built on blockchain technology.

Instead of using blockchain to track a database, blockchain was used as a distributed ledger to create a cryptocurrency that anyone could access.

Many cryptocurrencies were created after Bitcoin, including Ethereum, Litecoin, and Dash. These new currencies prompted the rise of Initial Coin Offerings (ICOs), where investors purchase new cryptocurrencies.

The value of the cryptocurrencies soared, which helped create new blockchain startups. As a result, many investors became wealthy from these investments, and blockchain technology entered a new phase of growth that has continued to this day.
The Growing Popularity of Blockchain

As we have seen, blockchain technology has followed a path of innovation and expansion since its creation. The trend has continued and led to the adoption of blockchain in various industries.

Almost every major company has explored the uses of blockchain and attempted to implement it somehow. While cryptocurrencies were a significant driver of growth in blockchain technology, they are only one use of this technology. Blockchain can store and exchange data, manage digital identities and records, create smart contracts, and more.

Many companies are exploring the uses of blockchain in the financial sector, supply chain management, healthcare, and many other areas. The popularity of blockchain has grown tremendously, and companies are finding ways to incorporate some elements of blockchain into their operations.

While blockchain is still a new technology, it is expected to grow and evolve as further applications are explored and developed.

Conclusion

Blockchain technology has come a long way since its creation and has much more potential to explore. It has evolved into a powerful tool used across many industries. As this technology continues to grow, there are several future trends that we can expect to see.

New advancements in cryptography will also be made, and we can expect to see increased computer power being used to power blockchain networks. These advancements are expected to revolutionize our business and will likely have a lasting impact on the future.

Maersk-IBM Joint Blockchain Venture TradeLens is Shutting Down

Early last week, Maersk and IBM announced that they are shutting down TradeLens, their joint project based on blockchain technology to improve supply chain industry.

Founded in 2018, TradeLens platform has been jointly developed by Maersk and IBM. It was founded on the bold vision to make a leap in global supply chain digitization as an open and neutral industry platform underpinned by blockchain technology.

"TradeLens team is taking action to withdraw the offerings and discontinue the platform, and the intent is that the platform will go offline by end of quarter one, 2023. During this process all parties involved will ensure that customers are attended to without disruptions to their businesses." said the news announcement of Maersk.

Citing the reason for discontinuation of the platform, Rotem Hershko Head of Business Platforms at Maersk said that TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business.

With TradeLens, Maersk and IBM implemented a block-chain-enabled solution creating more efficient and secure global trade. However, due to a lack of adequate viability in the market, TradeLens will currently no longer be offered by Maersk.

In the year when its launched, IBM and Maersk announced that 94 organizations were actively involved or have had agreed to participate on the TradeLens platform. Besides, it was also claimed that about 234 marine gateways/ports worldwide have had or would be actively participating on TradeLens. 

To recall, in July 2020 Mumbai-based Shipwaves, a digital freight forwarder, also joined TradeLens platform aimed at accelerating the digitization of the ocean logistics space, especially in India and the Middle-East.

TradeLens eventually shutting the shop now. 

"We will leverage the work of TradeLens as a steppingstone to further push our digitisation agenda and look forward to harnessing the energy and ability of our technology talent in new ways,” said Rotem Hershko. 

During the process of closing of TradeLens platform, a dedicated team will continue to support the platform and assist the customers in the transition, said the company.

Centre of Excellence for Blockchain Technology Inaugurated at MIT World Peace University

The Centre is being developed in collaboration with Snapper FutureTech

MIT-World Peace University announced the inauguration of a new Centre of Excellence focused on Blockchain technology within the university’s School of Computer Engineering and Technology. The new CoE is a joint collaboration between Snapper FutureTech, Pune and MIT-WPU. The exercise has been initiated by the School of Computer Engineering and Technology and the Center for Industry-Academic Partnerships (CIAP).

The CoE aims to foster excellence in the development of training programmes for youth and practitioners in Ethereum and Hyperledger Lab setup for software development, faculty training, blockchain applications for pilot understanding of applications, Faculty ToT (skill and capacity building), mentoring for blockchain entrepreneurship, blockchain software development training for faculty and students, among many other areas. The CoE will play a critical role in implementing a cascading model of teacher training and skill development through modern lab facilities, career counselling, seminars and workshops, and internship and certification mentoring services—all under one roof.

Dr. Prasad D. Khandekar, Dean of Engineering said, “Technologies such as blockchain are of immense value in today’s time when job dynamics are rapidly changing and evolving. We at MIT-WPU want every student to graduate with skills that will prepare them for new-age jobs of the future. We are determined to achieve the same objective through this unique Centre of Excellence, which will equip students with the applications related to the use and development of blockchain technology."

In line with MIT-World Peace University’s vision of fostering the growth and development of its students while contributing towards the larger goal of nation-building, all assistance provided by the CoE will be free of charge for students and faculty members of MIT-WPU. The CoE will be followed by the formation of a student-led Blockchain Club for students and faculty members by the end of this year.

About MIT World Peace University

The MIT Group of Institutions was established in 1983 by Dr. Vishwanath. D. Karad, Founder and President, of MIT Group of Institutions. Since then, the MIT Group of Institutions has grown exponentially and has made a strong impact in the field of education throughout India. Today, the MIT Group provides education in the fields of Engineering, Medicine, Pharmacy, Marine Engineering, Insurance, Distance Education, Telecom Management, Lighting, Design, Food & Technology, Retail Management, Master of Business Administration, School of Governance, School of Education and Hospitality Management.

MIT-WPU’s multidisciplinary approach towards providing a premium quality educational experience to students is what makes it one of the best private universities in India. The university implements well-researched WPU methods, which bring about the perfect balance of an academic framework reinforced through experiential learning.