NASSCOM organised a Blockchain meet-up event with Fidelity International as the knowledge partner on the 17th of May. The theme of the event was ‘Beyond the Hype: Blockchain in Financial Services’.
Mark Muir from Fidelity Labs, presented the main talk of the day, wherein he positioned Blockchain on the Gartner Hype Cycle. Mark shared insights into two key factors that should help decide if a Blockchain solution can be a good fit for a use case: (a) if there is a trust deficit in today’s setup; and (b) ability to generate profit (will people pay).
The talk was followed by a panel discussion with panellists from IBM, Quattro (a payments company), and Satoshi Studios (a Blockchain Incubator in India). They joined Mark in an engaging discussion that delved into topics such as applicability of Blockchain in financial services, consortium approach, smart contracts, democratisation of trust and potential pitfalls. The discussion was moderated by Kamaljit Singh from Fidelity International. The panel also explored the opportunities for the FinTech ecosystem and discussed some initiatives undertaken by some of the regulatory bodies and governments across the globe.
The audience of about 60+ people from across the industry and Fidelity also engaged actively in the discussion, with a lot of questions being put up for the panel.
The last event of the day was a speed talk by Sahil Baghla, one of the founders of Satoshi Studios, where he explained nuances of the Blockchain technology from a non-technical perspective. He also talked about a couple of businesses they’re building, one of which is looking to build the world’s largest user insights platform.
This event proved to be a catalyst to bring forth the knowledge and experience of large companies like Fidelity International, Quattro and IBM to the larger community. It was also a good networking opportunity for all those who participated.