BCSC 41 3 final
Summary
TLDRArjun 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
🚀 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.
🔒 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.
🛠️ 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.
Mindmap
Keywords
💡Blockchain
💡P2P Foundation
💡Bitcoin
💡Telecom Regulators
💡Transactions
💡Recordkeeping
💡Fraud
💡Immutable
💡Zero-Knowledge Proof
💡Identity Theft
💡Smart Contracts
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
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