33 min read

How Blockchain is critical in education and upskilling

May 16, 2022 10:40:34 AM

Transcript -

0:04 we're gonna talk about blockchain this
0:07 brief video clip blockchain a related
0:10 new being the trial of skills that
0:13 currently demand in the industry about
0:15 other tubing FinTech in their science so
0:17 it's emergence is almost a decade ago it
0:20 was essentially created or implemented
0:23 to solve the problem of double spending
0:25 on the cryptocurrency Bitcoin
0:27 essentially it's a combination of blocks
0:30 and cryptocurrencies which does the
0:32 river the need for a central server and
0:35 implementation it's very powerful in
0:37 terms of since then obviously a lot more
0:41 cryptocurrencies have got implemented
0:42 using the same model in in a second
0:46 summary it's essentially a combination
0:48 of blocks cryptocurrencies without the
0:53 need for a central and distributed
0:54 server which records transactions across
0:56 various computers that thereby ensuring
1:00 that the data cannot be tampered
1:02 retroactivity without the consent of all
1:05 the participating members given the
1:07 nature of its implementation it lends
1:09 itself to being a very powerful
1:11 technology space for implementation in
1:14 the financial services space to give a
1:18 very simplistic view of that it's like
1:20 internet which annoys almost two three
1:24 decades ago where one can implement a
1:26 lot of application on top of it without
1:29 technology given the fact that it's very
1:32 relevant to the financial space in a lot
1:34 of applications of impact around in that
1:37 space some one very basic examples come
1:40 to mind are you know the funds transfer
1:42 international funds transfer where the
1:44 funds can be passing instance
1:46 instantaneously as opposed to the
1:48 current couple of days other areas the
1:53 settlements of stocks there you know you
1:55 can kind of be the middleman in certain
1:58 American dekapan instantaneously payment
2:02 system settlement systems electronic
2:04 wallets
2:06 fund transfer you know the numerous
2:09 application which can use blockchain kyc
2:12 in any anti-money laundering oxide which
2:14 have seen a lot of implementation so if
2:17 you see there is a huge you know push
2:19 towards implementing technology around
2:22 blockchain about the natural services
2:24 world other areas we're just seeing you
2:28 know interest in blockchain our supply
2:30 chain knowledge space where you know
2:33 people are being people are using it to
2:35 question the quality of the product with
2:37 the company claiming they seem to have
2:38 an implementation of the auditing the
2:41 you know sushi market with Japanese
2:43 industry which is using block chaining
2:45 to basic and internal of things to prove
2:48 to ensure the quality of the product
2:50 which comes from Indonesia of certain
2:53 quality
2:54 essentially in a sense it's it's all
2:56 about making anywhere where the data
2:58 needs to be tamper proof and which
3:01 cannot be retroactively be altered or
3:03 without the consensus of the
3:05 participating members is a very powerful
3:07 medium the better-known implementation
3:10 of smart contract which stadium where a
3:13 simple contract can be made to execute
3:15 under certain conditions is a very long
3:16 blocking implementation in India there's
3:20 a fair bit of work going on that lot of
3:22 proof concepts have been built by the
3:24 financial services world we've got a
3:26 jolly electricals who put together a
3:28 blockchain based vendor management
3:30 system which does bill discounting this
3:32 hasn't been being built in the
3:33 collaboration with the US bank and IBM
3:35 because the judge aligns the insurance
3:38 insurance company using it for
3:40 settlement claims got mind remind our
3:43 doing basic vehicle registration some of
3:46 the common bodies like under Pradesh
3:48 government and Government of Canada
3:49 exploring registrations governance in
3:53 stuff around property registration and
3:55 stuck around that an identity management
3:57 which are being explored so the fair bit
4:00 of opportunity is likely to emerge and
4:03 people should I think invest in the
4:05 skill as a future

Written by Byte