BCSC 41 3 final

Summary

Arjun Mishra, a veteran in the blockchain industry since 2011, discusses the evolution and potential of blockchain in revolutionizing government and industry use cases. He highlights the company's achievements, including implementing blockchain for 7 billion monthly telecom transactions and the importance of immutable records to prevent frauds costing trillions globally. Mishra outlines various applications, such as land registration, healthcare, and election integrity, emphasizing blockchain's role in secure, tamper-proof systems.

Takeaways

• 😀 Arjun Mishra has been in the blockchain industry for 13 years since high school, witnessing its evolution and potential impact on government and technology.
• 🔒 He claims to have successfully implemented blockchain in a real-world use case, with his company processing 7 billion transactions a month on blockchain, surpassing the entire crypto industry's volume.
• 📚 Recordkeeping is central to government operations, and blockchain can add value by securing records against tampering and fraud, which is a significant global issue.
• 💼 The potential financial loss due to document tampering and forgery is estimated at $6 trillion globally, highlighting the need for immutable record-keeping solutions.
• 🛡 Mishra's company offers a robust document verification system using zero-knowledge proofs and immutable blockchain storage to prevent identity theft and financial fraud.
• 🏢 The transformation from paper to digital records has increased the risk of document tampering, leading to numerous frauds and the need for verifiable, immutable digital agreements.
• 🏠 Blockchain technology can simplify processes like property and land registration, reducing disputes and enhancing the security of public records.
• 🏥 Healthcare records could be centralized and made immutable using blockchain, allowing for better disease identification and data security.
• 🗳️ Election integrity can be improved through blockchain, creating immutable public records that prevent tampering and disputes.
• 👮‍♂️ Blockchain can secure judiciary and law enforcement records, preventing the alteration of statements and complaints, thus enhancing community security.
• 🔐 The technology offers decentralized storage, biometric verification, and automated reconciliation, ensuring secure and authenticated document signing and management.

Q & A

How long has Arjun Mishra been involved in the blockchain industry?

Arjun Mishra has been involved in the blockchain industry for 13 years since 2011.

What was the state of blockchain technology when Arjun Mishra first started researching it?

When Arjun Mishra first started researching blockchain technology, Bitcoin was the only blockchain at that point of time.

What significant achievement has Arjun Mishra mentioned in the blockchain industry?

Arjun Mishra mentioned that they got the Telecom Regulators to make it mandatory for all Telecom messages to go on blockchain, processing 7 billion transactions a month.

How does Arjun Mishra describe the potential of blockchain technology in government use cases?

Arjun Mishra describes the potential of blockchain technology in government use cases as revolutionary, with the ability to secure records, reduce fraud, and improve efficiency in various sectors such as healthcare, land registration, and public procurement.

What is the global impact of document tampering and forgery in terms of financial loss?

The global impact of document tampering and forgery is significant, with losses amounting to $4.5 trillion in identity and financial fraud, and $6 trillion for digital forgery.

How does Arjun Mishra's company address the issue of document verification and security?

Arjun Mishra's company addresses document verification and security by using zero-knowledge proofs and blockchain technology to make documents immutable and verifiable.

What are some of the use cases of blockchain technology mentioned by Arjun Mishra?

Some of the use cases of blockchain technology mentioned by Arjun Mishra include property and land registration, public procurement and contract management, identity management, healthcare records, election integrity, and judiciary and law enforcement records.

How does blockchain technology help in creating an immutable and secure ecosystem for agreements?

Blockchain technology helps in creating an immutable and secure ecosystem for agreements by making documents immutable, preventing tampering, and providing a chain of custody, which significantly reduces financial fraud and disputes.

What is the role of blockchain technology in regulatory technology and compliance enforcement?

Blockchain technology plays a significant role in regulatory technology and compliance enforcement by allowing regulators to ensure that companies under their domain are compliant without needing direct access to company records, thus maintaining privacy while enforcing regulations.

What additional features does Arjun Mishra's company offer to enhance the blockchain ecosystem?

Arjun Mishra's company offers additional features such as decentralized storage, biometric verification, automated reconciliation, and homomorphic encryption-based technology for privacy-preserving analytics on encrypted data.

Outlines

00:00

🚀 Blockchain Evolution and Real-World Impact

The speaker, Arjun Mishra, introduces himself as a veteran in the blockchain industry with 13 years of experience. He narrates his journey from the early days of Bitcoin to the current state of the industry. Arjun highlights his company's achievements, particularly the implementation of blockchain in the telecommunications sector in India, processing an impressive 7 billion transactions per month. He underscores the importance of record-keeping in government systems, the risks of tampering with digital documents, and the potential of blockchain to secure and verify records. Arjun also discusses the global financial losses due to fraud and forgery, emphasizing the value of blockchain in mitigating these issues through immutable document storage and verification systems.

05:02

🔒 Blockchain's Role in Enhancing Security and Integrity

In this paragraph, Arjun delves into the various applications of blockchain technology in enhancing security and integrity across different sectors. He mentions the potential of blockchain in identity management, healthcare records, election integrity, public records management, and judiciary and law enforcement. Arjun also discusses the use of blockchain in creating tamper-proof records, which can significantly reduce disputes and fraud. He talks about the advantages of blockchain in providing access-controlled ecosystems, enabling only authorized individuals to access specific data. Furthermore, he touches on the use of blockchain in regulatory technology, compliance enforcement, and legal agreements, illustrating the technology's ability to create secure and transparent systems that can be leveraged by various industries and government departments.

10:04

🛠️ Blockchain Consulting and Technology Development

Arjun concludes the script by describing his role as part of a blockchain consulting and technology development agency. He outlines the agency's mission to assist companies in adopting blockchain and AI technologies, making the process more convenient and tailored to solve specific problems. Arjun invites the audience to visit their booth for further interaction and to explore how their technology can be beneficial for various government departments, particularly in health and public record-keeping. He emphasizes the transformative potential of blockchain and AI in creating secure, efficient, and transparent systems.

Keywords

💡Blockchain

Blockchain is a decentralized digital ledger that records transactions across multiple computers so that the record cannot be altered retroactively, enhancing security and transparency. In the video, the speaker has been in the blockchain industry since 2011, highlighting its evolution and potential to revolutionize various use cases, including government operations and financial transactions.

💡P2P Foundation

P2P Foundation, or Peer-to-Peer Foundation, is a collective of researchers and activists focused on the development of peer-to-peer theories and practices. The speaker mentions going into the P2P foundation where blockchain was being worked on, indicating the early stages of blockchain development and the communal effort to understand and utilize this technology.

💡Bitcoin

Bitcoin is the first decentralized cryptocurrency, which operates without a central bank or single administrator, and can be sent from user to user. The script refers to Bitcoin as the only blockchain at that point of time, emphasizing its pioneering role in the development of blockchain technology.

💡Telecom Regulators

Telecom regulators are government bodies that oversee and regulate the telecommunications industry. The speaker mentions getting Telecom Regulators to make it mandatory for all Telecom messages to go on blockchain, demonstrating a real-world application of blockchain in the telecommunications sector.

💡Transactions

In the context of the video, transactions refer to the exchange of digital information or assets, especially within the blockchain ecosystem. The speaker states that they process 7 billion transactions a month on blockchain, showcasing the scale at which blockchain is being utilized in certain industries.

💡Recordkeeping

Recordkeeping is the systematic preservation of records in an organization. The video discusses the relevance of recordkeeping in government systems, where documents and notifications are traditionally managed, and how blockchain can add value by securing these records against tampering.

💡Fraud

Fraud involves deception or misrepresentation intended for personal gain or to damage another individual. The script highlights the global impact of document tampering and fraud, with figures of $4.5 trillion in identity and financial fraud, and $6 trillion for digital forgery, illustrating the potential benefits of blockchain in preventing such losses.

💡Immutable

Immutable in the context of blockchain means that once data is written to the blockchain, it cannot be altered or deleted, ensuring the integrity and security of the information. The speaker discusses the immutability of documents on the blockchain as a way to prevent tampering and reduce fraud.

💡Zero-Knowledge Proof

A zero-knowledge proof is a cryptographic method by which one party can prove to another that they know a value x, without conveying any information apart from the fact they know the value x. The speaker mentions a robust document verification system using zero-knowledge proofs, indicating a method to verify the authenticity of documents without revealing sensitive information.

💡Identity Theft

Identity theft is the unauthorized use of someone's personal identifying information, often to commit fraud. The video script includes statistics on identity theft complaints and losses, emphasizing the need for secure and verifiable identity management systems, which blockchain can potentially offer.

💡Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute transactions when specified conditions are met. The speaker mentions smart contracts in the context of access-controlled ecosystems, where only certain people can access certain data, demonstrating the potential of blockchain to automate and secure agreements.

Highlights

Arjun Mishra has been in the blockchain industry since 2011, with 13 years of experience.

Mishra's introduction to blockchain came during high school, leading to early involvement in the P2P foundation and Bitcoin.

The speaker has witnessed the evolution of the blockchain industry and its potential to revolutionize government use cases.

India has mandated blockchain for all Telecom messages, with 7 billion transactions processed monthly.

The potential of blockchain in record-keeping for government to prevent tampering and fraud.

Globally, document tampering leads to a loss of $6 trillion in GDP due to digital forgery.

A robust document verification system using zero-knowledge proofs ensures data integrity on the blockchain.

Identity theft complaints in the US amount to 3.26 million, resulting in losses of $27.6 billion.

The immutable nature of blockchain can reduce financial fraud significantly.

Use cases for blockchain include property and land registration, public procurement, and contract management.

Blockchain can enhance identity management and verifiable credentials globally.

Healthcare records could be centralized and secured through blockchain, aiding in disease identification.

Blockchain can improve election integrity by providing immutable public records.

The judiciary and law enforcement could use blockchain to secure records against tampering.

Regulatory technology using blockchain can enforce compliance within industries.

Blockchain notarization and legal agreements can reduce disputes and establish chain of custody.

Homomorphic encryption allows analytics on encrypted data without decryption, preserving privacy.

Decentralized storage, biometric verification, and automated reconciliation are part of the speaker's technology offerings.

The company is a blockchain consulting and technology development agency focusing on blockchain and AI.

Transcripts

so I'll give a brief introduction about myself  I am withart Mishra you can call me Arjun um  

I've been in blockchain Industry since uh  2011 so 13 years in blockchain uh somebody  

told me about blockchain in my high school and  I started researching I started uh going into  

the p2b foundation where it was being worked on  actually Bitcoin was the only blockchain at that  

point of time and then I have worked through the  entire journey of this development of blockchain  

industry I've seen how the whole industry has  evolved how the ecosystem has been trying to  

again on one end fight the government and on other  end the technology itself has the potential of  

revolutionizing the use cases that government  itself has so here today we will try to check  

if this working yeah so give a background of what  we've already done in the past uh I think nobody  

in the world can actually claim that they have  actually implemented a blockchain technology in  

a real world use case where a company has shifted  their current use cases onto blockchain because I  

mean it's still in trial phases everybody is doing  Po's with it nobody's actually done it in India we  

got the Telecom Regulators to make it mandatory  for all Telecom messages to go on blockchain we  

ourselves process 7 billion transactions a  month on that so I mean we do more volume  

uh uh than the entire crypto industry combined so  that's what we've done uh apart from that we do a  

lot of other stuff uh in that particular company  we'll take you through how file and documentation  

management is actually relevant for the government  themselves and how blockchain itself adds value in  

how record keeping itself works in the government  sector so now why is recordkeeping so relevant in  

the current systems uh everything that we  see in the government is All About Records  

right so government themselves stored their own  documents they have circular they have notific  

ation everything has to happen on paper that's how  governments work and today all of that uh that has  

a risk of actually getting tampered we went from  paper to digital and when we did that we did that  

for convenience right 20 30 years ago and in that  time we made our own documentation uh you know we  

we caused a risk to it for for it to get tampered  today we see that so many frauds happen actually  

across the globe just because of forgeries  and frauds uh just because of the risk of  

documents getting tampered uh apart from that the  reconciliation is also further very difficult for  

the government themselves because of fragmented  data and so many other things when these documents  

are there and manual enforcement audits themselves  have limitations that uh no current Legacy system  

can actually provide the global numbers of  frauds are $4.5 trillion in terms of identity  

and financial fraud and $6 trillion for digital  forgery that means basically just by tampering  

documents we are losing $6 trillion worth of  GDP globally and that's the value that we can  

gain by implementing this solution globally uh  what how one of our Solutions helps of course we  

have a robust document verification system uh  zero knowledge proof of verifying data and of  

course the documents go on blockchain and becomes  immutable so that's the things that we're trying  

to provide Iden theft itself uh the total number  of complaints in us are 3.26 Mill million and  

leading to 26 27.6 billion worth of losses so this  is just the complaints that people have done with  

the respective Police Department or the respective  uh government agencies the real number would still  

be way higher than what we see here again as I  said we went from paper to digital and we caused  

that entire transformation has caused this risk of  uh fraudulent and Forge documents being there in  

the whole ecosystem which are unverifiable today  we can go on a website and start to you know click  

on an agreement I mean today we signing agreements  digitally when we go enter any website the company  

can change that agreement at any point of time  you have no way to prove that what agreement you  

had actually entered with the organization and  what you actually end up fighting a case with  

so we need to have an ecosystem wherein the  document themselves or agreements or any any  

document it could be a certificate it it should be  immutable and that is what is going to reduce the  

fin financial fraud in the ecosystem significantly  I mean the use cases of such a technology could be  

of course property and land registration it should  have a very simpler integration of course the  

utility and the use cases are a different aspect  but the potential of the technology is what we're  

trying to discuss here uh the land registration  the land disputes globally are a very big problem  

and of course this technology can cater to that  the public procurement and contract management is  

another one aspect wherein today so many contracts  are happening in the public domain and the private  

domain themselves and those cont contracts can  be secured the notarization industry themselves  

can be secured using this this process identity  management again is a major use case which can  

be done globally today verifiable credentials  are coming in I'm part of the worldwide Web  

Consortium as well so where we see that today  even the internet Society the guys who build  

the internet are trying to work out solutions for  this particular problem and of course blockchain  

does significantly add an advantage to that area  and the last one is the healthcare records if  

we could have a centralized Healthcare record  EOS system globally we could actually identify  

diseases much before that happened and of course  those documents will remain immutable and secured  

uh see blockchain does not just give you immutable  storage it could also give you access controlled  

ecosystems wherein only certain people can access  certain data based on Smart contracts and that is  

another utility that definitely will add value  to the whole ecosystem election Integrity I have  

I think there are a few people downstairs also  doing good work in this area uh election today  

the ballot paper and those systems are so easily  uh tarable and at least people can complaint raise  

complaints on on that matter South Africa had a  matter very recently uh and so many places have  

been having uh the parties complaining about  the uh the you know uh the elections being  

rigged and so many other things so you could have  a system wherein the document itself wherein you  

you put the the document in a ballot then that  document goes on blockchain and then you have  

real records which are immutable public records  management and for example the last one is very  

interesting the Judiciary and law enforcement  records there was there were multiple cases in  

India where where I'm from where in people changed  the complaints that uh you know let's say somebody  

did a complaint in a police department that  you know something happened and then because  

of lack of you know Regulatory Compliance and and  a number of things people Chang the complaint you  

know it's a digital complaint today so you  can just go ahead and change that complaint  

you can change the statements so what if you  could have an ecosystem wherein the police  

department's records are also on blockchain so  that nobody can change statements affid deits  

or complaints and create an ecosystem which is  much more secure and robust for the community

itself other use cases are of course regulatory  technology the potential of blockchain as a  

regulatory technology is very big uh any regulator  that wants to enforce its compliances towards the  

industries that it's regulating today they cannot  do that because you know the documents are kept  

within the company records company ecosystems  and they don't want to share it directly but you  

could have a blockchain based ecosystem wherein  that particular company will put it into their  

blockchain nobody will have access to it and  still the regulator can ensure and guarantee  

that every company that is working under its its  domain is actually compliant another is compliance  

enforcement of course so you can actually use this  technology to also enforce compliances on those  

companies so let's say a liquor manufacturer  is not allowed to produce more liquor than a  

certain amount just for example our cannabis  manufacturer is not supposed to produce more  

than a certain amount you could actually use  the system integrate into their sabs and then  

ensure that they're not doing something that is  wrong again you can use today in the technology  

world you can use a technology to ensure that  nobody's violating certain records and that  

can be done through blockchain notarization and  legal agreements another matter that you're going  

to off course put on blockchain uh using them  uh what what can happen is nobody there will be  

significant reduction of disputes uh nobody  will be able to say you know what I did not  

actually sign the agreement and and the entire  document itself is untamable today that document  

has gone digital you have docy sign doing it  and what if the document changes and anybody  

can dispute those those documents so you can have  a system wherein those documents are actually on  

blockchain and nobody is tampered with it and you  have you have a chain of custody as well I mean in  

in the law enforcement there's a there's a word  called chain of custody you can establish chain  

of custody using blockchain actually similarly  we also have uh homomorphic fully homomorphic  

encryption based technology which is actually  late which actually lets you do analytics on  

top of blockchain uh or encrypted data so without  actually decrypting data you can actually run any  

kind of algorithm on top of it so that helps  privacy pres preserving encryptions and other  

kind of things wherein you do not want to hamper  uh anyone's data which is private to them our  

own technology actually offers decentralized  storage biometric verification and automated  

reconciliation so by biometric verification I  mean we have a a face ID and a biometric video  

kyc based uh verification so today if if you  want to sign a document you can just have an  

email signature uh which is not that worthy  but this kind of a technology would really  

ensure that the documents are signed properly  the process is very simple if you use a product  

upload a document sign the document share the  links and have decentralized control uh a lot  

of the US government departments could actually  use and leverage from our Technologies and of  

course not just ours I mean you can use others  as well but this kind of Technology can really  

impact most of these departments that are  mentioned here specifically the health and  

the public recordkeeping departments who we  are we are a blockchain uh Consulting and a  

boutique uh technology development agency  we help companies adopt technology uh in  

blockchain and AI sector specifically uh much more  conveniently and really help them solve problems  

uh thank you so much please do visit us we have  a boo downstairs we would love to interact this