 I still monitor the show. Okay, all right. You need the presentation. I need to join the makeup. I can say that. I can say that. Let's give me a second. I'll just bring it up. For the primary location, we are setting up the logistics and mean by I feel free to take a small way. Yeah. So. Okay, so we'll probably get started for the bank location. Everyone again. So, good afternoon. Welcome back to the next set of sessions. And for the next set of sessions, we do have speakers in different regions. And of course, we will continue in the exhaust or top is here in Bangalore. And with us, we have sorrow, not joining us. So sorrow. Roger is a founder of vice. It's a tokenization as a service solution for business application. The company. So he, I mean, talking about his personal profile is an alumnus of it. And that's not it. He is also completed his management development program from I am Lucknow. And that's not very intense as well. He's also first rank holder in SP Jane management. And in a financial technology program at SP Jane management, global management Institute. So he's very much active in the ecosystem that space and. Today, he's here with us talking about this tokenization use case. And yeah, if you have any questions, even the virtual audience, if you have any questions to ask to sorrow, feel free to ask those questions. And welcome sorrow. It's a honor to have you here with us. And I just heard from Jay that you came all the way from Mumbai. And it just makes it so special for us. Yeah. So I know how to sort of. Yeah. So you can see if you want to come to site. And I can navigate the slides for you. Let me know when and I'll keep switching. Okay. Yes. So on the conference, are you guys able to hear us well from the Bangalore office? Can someone say yes, thumbs up anything with two. Yeah, we can hear. Thank you. Okay, so thank you for the wonderful introduction and again. Hyperlegit team and Bangalore team here. For, you know, this opportunity. The idea is that I can share something which I have learned over this in a past several months to a year. In this domain, which will give you some perspective of all the cool stuff that people talked about in building technology, the ledger protocols, sharing of data and how you could actually use it to bring applications, bring use cases to life. So that is what we talked about. The team is building trust for a decentralized world. Everyone is like decentralization moving forward. And that is what we'll talk about. But as soon as you decentralized things, you tend to not know who the other person is, but you still need to be able to trust them to do a transaction and that's what we'll find out how you can actually do that. So that's the question remains. Yeah. Okay, so this is my presentation introduction. I don't know if you're wondering why, but it is to see my kind of experience today. If someone can read it out, what it says on the top. You're an astronaut freelance. This is interesting. This is actually my limited page. If you scan this QR, it takes you to my limited page and that is what I can go and write saying I'm an astronaut at the Hyperledger India chapter. Now that sounds very good, but I know it's not correct. He knows it's not correct. Everyone in the room knows it's not correct. And this is the problem with everything that exists in social media today, everything that you put out of it. You really don't know what the other person can write. So how do you trust what the other person is saying? How do you know actually if someone's saying they are someone or they have a certain degree or they have a certain credential, it is actually correct. And that is where we'll understand how organization, in fact, can actually help us with that. By the way, the rest of it was correct. So read the introduction. Now comes the actual introduction. So this is where we have the file, the work, everyone read. You'll see where all you can after the event as well, you can see where all the preparation can be useful. We switched it to the Atex product challenge, which is the Caribbean Tensions. They gave us the work for that. It's part of the National Deep Tech Club as well, which is now here in Bangkok. And that is presently at the Delta on this forum where it was how do we tokenize a work relationship for the economy. Now a bunch of people come and deliver stuff to your house. I mean, you have some ad-lib guys, you have sweetie guys, you have all our car drivers. Hard to actually know that, you know, that guy is actually a sweetie guy. And you and I all have linkedin, sorry, you're not fancy, dressy maize and online brokers, but most guys who are delivering food at your places, who are delivering stuff, medicines, they don't have any linkedins, they don't have anything, right? How do you make sure they get credited for their work history? So the more they have to go and apply for a loan, they can actually prove to someone that, hey, I work in sweetie for 10 months, I took a three-month break and then I joined Thipka and I'm doing a good job. Here is my customer reviews, so I'm eligible to get a loan because those guys, because they are on contract, they don't have a work history. Their education certificate is somewhere else, they cannot actually prove they're financially marginalized. So this is where technology like this can actually help them get to that point where they will be able to do what we talk about as financially inclusive. That is something which you can help. Issuing tokens is very easy, it is actually more economical, cost-effective and time-saving than actually issuing them a letter which they might eventually use over time. But a token created on the block sits forever and that is the beauty of the solution that we need to talk about. Right, so to break it up, what we will talk about is a public statement solution to a blockchain or not to a blockchain to buy. Tokenization and NFTs, then we'll talk about some of the business applications. Look at various use cases around the world, some of the very popular ones, and you will see what actually is happening out there. In the applications, a lot of people say crypto regulations, government, XY, that sort of thing, but we'll see, yeah, it's still possible. We are actually doing it, you can do it. And that should open up your ideas to actually, if we can do this today, where, you know, one system out of this loop today evening, or speaking, we should be able to think where can I not take this forward, where can I, whatever I've learned in the tech test today, I can go to my school, college, university, in a workplace, where can I use it? And finally, you have time to look at it. So like I said, the main problem we are trying to solve, every blockchain company, everyone in the world is trying to solve the problem of trust, right? Trust actually is what it is, and it can open up lots of opportunities if you can actually trust the person in. You go to a bank because you trust the bank, right? You come here because you trust the bank, right? It's as simple as that. Even if someone, XYZ, in their chapter, you would not be here today on a Saturday morning, Saturday afternoon, right? And this is the problem, if you don't know, then we do not have trust. So what we are looking for is trust, which is a firm belief that someone actually is who they are, and they are, and how they do that. And actually what we are looking for is these dreamticks everywhere. You look at the chat applications, you look at them, and everywhere, if you have a dreamtick like this, you know, it's good, I can do that. If you have a dreamtick, you know, so the entire world, not only in the, everywhere in the world, you are looking for those dreamticks. And the blockchain, whatever it is doing, evidently, end of the day, it is solving for the trust factor. Consensus and protocols, everything, which is the core of the blockchain industry, it is solving for trust. It is not solving for speed, efficiency, those are extra things that make it more viable. And the core of it, every blockchain, is solving for this trust. So as we do, now we talk about decentralization, right? Now you see, we talk about data ownership in your hands. The CBDC is out there, you can have your own wallet, no, you can sell it to anyone in life, right? So if you break it down in footprint, you know, actual, how much, and how many types of data you have, we have, we see that a difficult model in Indonesia can have data spread across your identity, which is your national ID, spam, KALA, LAKA, a social security number, private license, you know, all sorts of things, right? Then you can fix all your certificates from school, call it school, and all these things you do, right? You might have a bundle, I have a bundle at home, but I cannot show it very much, I cannot carry it. So in these where, as tokens, I could actually show it on my watch, you know, I could give you a link of QR code which you can actually go and verify, right? Those are all the categories. What can I actually talk about this? Financial, if you have a loan, or if you don't have a loan, you have insurance, right? I mean, if someone hits your car, you say, I need to claim insurance, but you know, if the other person can support it or not, right? Those kind of things. The medical, your medical data is very valuable. Today, you go to hospitals, pharmacies, everywhere, to take your name, details, everything, the normal medicines you're having. I believe if you look up the internet, it's only channelized, going back to research, people are making a bunch of money out of it, and he was still falling sick. That's the one part of it, right? So how do we do that, right? Assets, you drive in a car, you drive in a bike, you have a fridge, you have a TV, you have ACs, you have houses, you have your apartments, right? I mean, it goes a lot of physical assets. You want to buy a house from someone, as far as you know, that person actually has a house. I'll tell you in my own society, I went to the office one day, and there was a guy fighting with the, you know, in my own society, you know, people, right? I'm saying, you know, this parking, right? The issue was parking, and the actor, the owner of the parking was also there. He said, this parking is mine, I've been living in this society for the last 15 years, and this new guy was coming and saying, hey, I sold this parking by this guy, he was just two months back. So someone sold you a parking, which is not about belonging, right? And that is the problem with assets, right? There's a lot of problems with real estate assets, with a lot of other assets, right? And finally, social, important, very, very important, right? The social engagements. Once you move out, move out of your college, university, everything, and people know you are, and today we have the social setting, right? And typically, right? We know each other because we are members of the hyper-registered India chapter, right? We're sitting here in Bangalore. So those are two social factors which actually define our engagements with each other. I might go and meet someone at a nice mall, and say, hey, I met you at the hyper-registered India chapter. That's a social interaction, right? But someone can come and wear a nice, you know, hyper-registered foundation, and say, hey, is that at home, hyper-registered India chapter? Maybe not. So that is how you can organize those things. Your gym membership, right? Your club membership. And that's actually where you can build more value out of it. And using that, you can build additional use cases. You can build more value. You can deliver more value to the group. So end of the day, agent of trust is blockchain, right? And not only I say it, not only the hyper-register says it, but everyone saw the techniques over the last several years that blockchain is going to be the agent of trust. And that is why this is going to be a foundational technology. It is as good as you can think your Java, JavaScript, PHP, HTML, CSS. This is what is going to be the language of the future, right? If you're building applications for the future, as people are solving for speed, for throughput, for interoperability, these are all those very cool examples. This will become the foundational technology. So for you, for everyone out there, you should be investing time in this. So coming to the business side of it, right? And what is where, what you can do and where opportunities lie, whatever you want to do, right? The fact is complex. We know that it is very, very complicated. And that is why not many people are actually using it. They're still learning. It is evolved, right? And on top of that, tokenization, which is NFTs. Everyone understands NFTs here, right? I mean, you've done that. Tokenization token, so that's it. It is hard to manage. So you have a blockchain stack on top of your NFTs. How do you manage that, right? How do you ensure that the data can continue in the NFTs is still, you know, sacrosanct, it's still, you know, obviously encrypted. So not everyone can use it depending on the type of use case, right? And finally, what happens is you spend a lot of time in this. You lose energy to time to market, right? So that's again, because businesses, you know what I mean, it's very complicated, right? Two pharma companies, they want to launch a product. They want to go to the market part. They want to sell it and do a lot of research. For them, it is market customers, right? They don't want to do research. They actually have to do research. That is good. But when it goes out of business, it's fast. It needs time to market. So, so this is where what we have done is compressed all of that, remove the charges and say, we'll make Web 3 accessible. We'll make it seem just such an asset. Now, when you talk to a business, the first question they will ask is, you're a nice, good guy, you're learning, you're doing blockchain. What will happen tomorrow? You change your idea and you start to say, hey, I want to open a nice fancy store, right? What happens to my data? What is the first answer? There's a bigger chance that when you go into every company, if you're going to build a startup, in advance, you'll log, you say, your data is sitting on the blockchain, it is permanent. It does not get deleted. It is better than an existing database, which you have. This is a winning solution. This is the magic model. These three points, four points, memorize it. It will win you every client. It's simple. That is how I've been winning clients and converted them to Web 3 for the last 12 months. So, life and data assurance. It is not 99% for 9%. It is 100% as long as a single node on the network is running. Your data is available to you, Mr. Customer. I go away, you can come in, you can base a protocol, you can read the data back. It is never lost. This is a beautiful statement. The second is availability. As long as the nodes keep running, the blockchain is running, fairly decentralized, there is no downtime, right? That is another good thing. Finally, you can write APIs, so there's three layers and all this stuff that those technologies are available today. You can give this data back to their CI. They all love their CI. You cannot tell them, sir, come to hyper-register, come to build on this blockchain. No, they will never come. But the moment you say, yes, I will do this. And if you need, I will tell the data back to your CI. They'll be very happy. There's a company, have a seat. Tell us how we can do it. These three points, that's it. And if they're still not convinced, you tell them it's just a post. Many of this, you know, by community models, there's, it's already available out of the box. You go and deploy on top of it, right? They'll give you a lot of credits, you know, many companies do that. They promote, they love it, so they post. And at this point, number four, the customer is already with you, right? So if you want to actually do that, these are the good data. Finally, because it's NFT, you know, it comes with nice image and stuff, you cannot actually give someone a blockchain hash or a transaction number. It's this big, a lot of numbers, characters, and kind of everything. That doesn't work. But the moment you put an NFT on top of it, it just visualizes it, right? Imagine the difference between having a UBI ID and giving someone your bank account and IFC number to make a transaction. Imagine the difference. Today, no one talks about, I'll give you my bank account, IFC number, my branch is here, please, where if I go into internet banking, you say, hey, I'm not with that, give me a UBI ID. That is the difference between blockchain transaction and when you put an NFT on top of it, visualizations. So now you can actually see your field because NFTs can be images, it can be videos, it can be anything. So that's form factor. UBI is nothing. I mean, it's the same. The transaction is still going to the bank. But the form factor has changed from NEFT, RTGS, to IRBS, form factor has changed in UBI. That is what makes it very, very powerful. And now almost everybody in this is in that. That is what NFTs do with blockchain transactions. They mix it, see it, I can see it, I can see it, I can send it, I can give it to someone. That's what it makes it powerful. And of course, because it is there, it's tabloids, it's not tabloids, it's not tabloids. That is something that we can talk about. I'm not sure now because that token is not issued by hyperleisure area chapter, it cannot be verified which means that it is incorrect, simple. The question ends there. You don't have to go to anyone. You can verify that data, one chain, you don't even have to go to hyperleisure. You don't have to come to me. You can actually verify independent of everyone. And that is the power of blockchain. That is the power of National Geographic Association. These are the remarks. This is the winning slide on making WELFV, where you want to talk to anyone. So So, how they come also initially, before everything started, we just had identity, which is like on the wallet, you have smart contracts, which is the rules of what I give to you, what I take from you, what are you giving me. And then you have payment, which is the contract which actually does these two things. And then something revolutionally happened, which is, then you have digital assets, virtual digital assets, because these are the identity that we talked about. And then these things, it changed the game everywhere. It was before the big change, and that is where we got the question in blockchain, that is a bunch of artist's game, bunch of creative game, but nothing to do with blockchain. Before this, blockchain was just for each nut, like you and me, and that's all. They were happy with it. They were very happy. This is just about three to four years back. No one young people really as happy with it, it was their idea, you know, back then. But when these digital assets came, they changed the game, right? Everyone started to worry about it, right? People are talking in greater spaces, people are talking about it. What's happening? People, you don't even think they have any technical knowledge, they are talking about blockchain today. That is about what digital assets and entities are doing. So, where do we go? This is 2014, like I said, now blockchain has been there around 2007 and 2008, probably 2014. This was the first NFT market, and this is very funny, and the reason why I say this is, well, of course, it was worth $14 million. The traffic is not there, but this is just like a blue circle, it's very psychedelic, you know, and all that stuff fancy, but that is the first NFT we got in the human history. And it is just that, it's a JPEG, right? Just fancy, you can make this kind of computer speed, if you're a man lab, you know, if you're a guy or something like that. So, this was, of course, an NFT done, and there was a problem with that, right? What happened is today, if you have bought an internet domain, you know that, you go to ADE or NG or anything when you go, you have to kind of renew the domain every three years, right? Otherwise, you lose the license, it goes back to the industry. So, practically, when he did this NFT, he did not know what to do with the NFT, no one knew what an NFT was worth. So, he left it. It was similar like a domain kind of system. So, the chain on which was created, he left it there, he did not renew the license. So, when a major auction house wanted to sell it, the question came as, who is the owner? Is it this guy, Kevin? Or is the guy who is actually owning that, you know, the network, right? But they settled it because that would repeat the revenue to the best part, and that is how finally it was sold to 1.47 billion dollars. But this raises the question exactly which we talked about is ownership, and that is why many of these are so powerful and interesting. They help you to establish ownership. Ownership could be of anything. It could be of this chair, it could be of this storage, it could be of your house, apartment, your credentials, it's certainly an entity. And that is why entities are very, very powerful. Let's look at some more use cases. Again, this guy, a very useful use case. Now, super, you have seen, you used fancy movies, James Bond and everything, people are running, you know, yours, very rarely they get blown up, cars get blown up, ice get blown up, everything. You also don't get blown up so easily, right? I mean, it's all CGI, it's actually a lot of money to build it because it's a very fancy, very, you know, exclusive. And it's a lot of money life for anyone to start building and then think I'll go and sell it to someone. What he did is actually he flipped the model. He said, I will make an NFT out of the entire yacht and I'll give it to everyone. Which means I'll take money today and I'll tell you when the yacht is ready, I'll give you invite to the fancy parties. You're like, yes, I'm happy now. I'll give you the money now and in six months time when the yacht is ready, I'll get to go to a party. And this is where you see the business economic model changed. Using this, now you can go and tell someone, I'll give you an NFT for my company or something, all of the product which I'm going to build, all the software application I'm going to sell. But buy now, buy take my NFTs and I'll give this to you later. If your artist will agree because hey, I'm doing an art project which is very fancy around with creating a movie, but I need funds now. I'll give you the premiere of the movie. You will be the first one to see the movie or you will get an exclusive first price to buy out of my entire 10,000 images that I create and then I'll give it to the normal public. That's exclusiveness. That is what people will buy for that is where they'll take your NFTs and that is where the economic model starts to make sense. And the NFTs were sold for 12 million dollars. You can raise as much money using these models, which typically before you have to go to a bank, take that loan, do all sorts of things and then do it. So it changes economic models as well. So this is very, very interesting. Again, this is an example from India. Different company, different application. So what they did is one of the most popular ones, each of these four JPEGs, it's a Jeep, it's the Mahindra company makes. So four JPEGs were all of these, started with an initial bid price of 1 lakh each. It was finally sold for 26 lakhs total. So from 4 lakhs to 26 lakhs. And what did it was not used to profit? They actually gave all of this to a non-profit organization for supporting education for small girls. So imagine the use case was used for CSR. So we talked about NFTs to organization using the profit. This is an example used for actually for non-profit and for social benefit. Again, this is very popular in India. I mean, if you don't talk about it, it doesn't work. This is one of the examples that is from Dario. These are friends of mine. He's actually a bachelorette of mine type. He's based by the million, 120 million in funding as well. And what they do is they play a card. So it's technology to supply that. But what's the difference? I can go, I'm watching the actual video on my, you know, some OTT app. I can take a print screen and, you know, I have, but actually you don't because you don't have that record created on block and say you actually own it. Versus if I bought these, which are licensed by the cricket board in Australia, in India, then actually I have that. And what happens is it might even look the same as something if you have taken a screenshot, right? But these guys say that, hey, you know, Australia doesn't have that record. But everyone who has NFD can come to an evening social dinner. Then if I got the actual NFD from this, I can actually go to the event because they can verify it. Once someone has taken a screenshot, it won't get verified. They will not get a screenshot. You see, there's a very clear difference. People will ask you many times, I do the NFD, but I can take a screenshot. Yes, you can take a screenshot. It looks the same, but when you're done there, again moving forward, very popular one, the NFD is sold for a couple of hundred dollars. Very unique. Again, show the picture. It's still people love to see it. You know, it's an individually autographed board. You can feel it. We do like what millions, right? I mean, later on you can say, these things and all that go down the bag. Here exclusive scarcity tries more values. Like having interest in life. and these are the things. Again, if you google this, you will see that Starbucks has already launched this program now. What they are doing is if you have an NFT, then you will get exclusive benefits. You might have access to certain coffee brands or something that says a very rare item of coffee. Only 10,000 in the world will say everyone who has NFT will get the first chance to buy it. So you are kind of token, it's called token gating. Putting a gate to everyone who has a token, they can come forward and they will have access to certain things. And this is one of the best news cases to build up. Again, Shopify, many of you know about it, my building on it. What they did is for their merchants were actually lying on the platform, they had even a similar thing that you can make your own NFTs and you can do a kind of clip cut, you can do that with this. If you have a limited product, you can give to your first members and then kind of go on with it. You see it going mainstream, it's actually being used. And then you know again supporting artists, right? No, I don't know if they would like to see a painting and some very good concepts here, right? But then what Fuji did was they put $25,000 into it and they said this stuff, when you art museums, which can be very, very costly and you have to wait for months to actually get a score, it will be a virtual experience where you can set your digital art. So you see how it is getting more important and one thing that everyone can now do. So that's a very good example. And finally, coming to a very crucial fact, which is this is good technology, but does it work? Is it acceptable? If I get a challenge, if I get an issue with my identity, can I go to the court of law? Now, not yet, not in every country today, but it is going to come. This probably is one of the worst examples where it's said that NFT is to be treated as a virtual property. It means it will have rights assigned to it. If I have it, if I have rights, if I transfer it to him, if I transfer it to you, he will have certain rights that should get transferred along the way. And actually, if you see, they have a very clear definition of what those rights could be. So in fact, it's a good thing that you go to a point where you are and keep those terms very, very well written. So because anything to bring this up is when you go and talk to a business or you try to fill out, people ask, does it work? Is it valid? Why don't I just do it? If it's not like what you said, this is why it starts to work. So they are like, I believe in Singapore, they have a case, it was said that similarly, in India, I must find out if it's valid or who goes there, and at some point in time it can become valid. So you could sell your apartment as an NFT and that would mean an actual transfer of, you know, the apartment has been happening. So be very careful in the future, don't just send out an NFT to anyone. You might actually send them something which you want to send. So coming up with the last part of the application side, we see already Mahashtra has done diplomas on blockchain, there we show some cards that they can put there. Now, educating is not difficult, we talked about that, I mean, you've got pretty much 12,000 well studied, don't need to worry about it, but there are many, it is a big market about that. You will do face it, which is not, I think in my experience and this is the reason why actually one of the reasons why I wanted to do this. Way back when I was starting to build, with Hypervisor, I wanted to hire a team. So I went on LinkedIn, a difficult place, right, and looked at some profiles, you know, and I saw this one person writing so many Indian articles for doing commenting and I thought maybe there is a good, there is no social proof, this person knows something. So we did a discussion, even made an offer, the offer was accepted, then came holiday season, so we said, okay, you come and join after the holidays, you start after the holidays, not three weeks later, the first staff was very simple, give me a basic Hypervisor fabric architecture to deploy an application. So three weeks later, I still did not get anything. When I push too much, I go to an Excel sheet and I recommend this Excel sheet is what I actually had sent you requirements. And then I figured out this person does not know anything about Hypervisor, but then writing a lot of blogs and posts and everything and making comments and everyone else, maybe there's a comment on Arun's post as well, to gain popularity that, hey, I'm replying Arun's post and maybe I don't like it. So I go and look, hey, I know Arun is a good, respectable guy, this person is replying Arun's post, it means this person knows what Hypervisor is. So I made an offer, hey, give money also, nothing, zero, that's not really the thing. So I have to say, usually you are actually, you know, you can't do anything. I don't have to say you're fighting, you should actually accept that you're fighting, just even don't show off. That is when I realize that there's a big problem out there and that is because of that, right? So trust is very, very important, right? And then of course, the rest of it is there. So education, we talked about email consequences, a lot of it happens now, actually very fine tickets, right? Today a lot of people can show QR codes and enter, right? But how do you let QR codes actually is correct, right? And you can say, hey, you know, your application is not working. I mean, you've seen those famous ads, right? Someone drives very fast through the police, police says 200, and he says drive again, he says again, go safe, I'll say, hey, your machine is wrong. I'm driving within speed limits. So if you show the same QR codes, say, hey, your machine is really not, I need to go to the movie, but that is not correct, right? So those tickets are issued as NFTs on blockchain, which means it's permanent. Now here's the interesting thing that you can do. Now let's say I do an event and I invite all of you and you have a NFT sitting out and then I will hear invites all of you and it says I want to only invite people who were at that event. He doesn't have to come and ask me because it is already created as a token, you can go and read the token data and you can send out an invite to all of them. Or he can say, well, you come to the event but your samosas are going to be 100 rupees. But if you were at that event, which I can know because I know from your token data, you don't have to do anything to me, I will give you the samosas for free. And maybe 12 months down the line, I present India will say that, hey, if you're coming to my regular meetups and meetings and I can record them as NFTs and I can record all the transactions, you'll get an event for free or lunch for free or whatever is there, I don't know what it would be. But if you're not coming and if you just shown up today for the free lunch, well, you have to pay. This is where the idea is to motivate people to actually be part of the community, contribute, learn also and be present. And this is where a lot of developer community is going forward with change. I already know from some of the discussions that I have been having that people are trying to look at this model site. And some of these examples are already not in the blockchain world, but even outside so how many of you know DIT type? Some of you may be members as students or you might actually join them. So for the type and where we're actually working on a project where your membership data will be tokenized. Now what happens is it's a very actual use case and I can I think talk about it. People get the membership for one year, they won't be able to second do it. It's very typical with as Indians, we think it's for lifetime, right? It's very standard. So what happens is they put it on LinkedIn, but that's incorrect data, right? You're giving. So what we are saying is that membership token will be tokenized, which means if the next year you're not paying your membership fees, then the token will be getting deactivated, which means anything you try to get on the base of the token will say invalid token. So which means you can renew a membership or actually you can pay for the item, right? This is where you know without passing Excel sheets, without checking, without being look up. Simple scan the NFT or the token and you know if it is valid or invalid, right? It's that is how it's going to be. And what we are going to try to ask you that. So going next, yes that was the the next one is the membership which I was talking about, right? So this is actually active and as long as you think you're not renewed, you can change the visuals of it. You can say it's membership ship is inactive. Automated, completely smart contracts. We don't have to touch a single thing. They transfer perpetuity as a user. No excuses. And that's where my payment did not go out. My this is not work. You make the payment today. It's very similar. So that is an excuse. Make a payment because it's active again. Don't take the payment. You don't need your membership because it's very simple. This is an example. The reason why I showed it is you can actually build on this. Pick up like as a fabric or you know, ENFP, we're minting engine or any of these go by that bunch of, you know, so the service of change clouds, go build a solution, then sell it out. Then we'll actually start making money today, right? Actually, good allocations are blocking the number. Here's the deck capital of India, right? So this is the place where it should happen. That is why I have to do other now. Good. So this is another application from a supply chain perspective, right? Which is getting real things out of the inventory. Who has how much inventory to get this status updated in a sort of the very good example, the oldest position, the hyper digit change. So I'll not spend a lot of time with this, but it's actually what you can do. And all the rest of the integration, you can have it, right? So you build the user interface, the backend, the centerpiece of it is the blockchain where you sit and have data which you can rely on, right? So based on that data down, you can see who needs to get to the entry or if that person is saying, Hey, you know, I have so much inventory I need a loan from a bank to manage this all, you know, raise capital, you know, businesses need to do that. They can actually do on the basis of that. Because otherwise, there's no proof that you have so much inventory, right? So that is what I need to do for the actual applications. Let's go next. Again, some of the new ones coming, healthcare, we talked about real estate. It is one of the most difficult ones because there's a lot of regulation, a lot of fraud also happens, right? Which is one of the slowest ones. But what I'm going to do is I believe very positively, and I may be wrong, but most likely 2023, the start of seat tokenization happening in the real estate, which means let's say this was the entire office, you know, all of us could have like one, I don't know, one block like this morning of the office, and then you can rent out the office to someone else and whatever the rental money comes, everyone starts to get it, right? I was at some point of time, started my new job, went to Mumbai, real estate piles are here, my salary was always here. And that is typical, right? That is typical for any big city you want to go and work, you come from anywhere, house, home is here, your salary is there, you never make enough, right? Until you reach a salary, what is that like? But what if now can have that amount of money, which rationalization, you can start putting it in different places, right? So you can invest, instead of putting in stock markets or mutual funds or something, you can actually invest in a real house, in a property somewhere, and let's say five years time down the line, you can actually buy enough years to actually hold by the entire unit. That could be possible, right? So this is making actually a change. So real estate will come, people going today, there's a lot of challenges around it, but still happens, but blockchain will kind of revolutionize it. Oversize office in Dubai, I think is one of the good examples, but India also will catch up to it and then we will see how it will. Organic farming, I think hyper leisure is a very useful side of that. Supply chain again, it's done, that's a lot of work, so I'll give that. But these are solutions actually happening, right? It's not fiction, it's not something which is only in presentations. If you go out, research it a little bit, and the idea to share all of these is actually that you can step out, and if you start thinking of if I want to build a career as a blockchain developer, if I want to do hyper leisure, where will I end up? These are the actual problems, see these are the problems and solutions which actually impact life, they create value, right? And you'll make quite a bit of money. So that's what I have today, the willing trust for the pre-sumptimes world that is about to come. It is going to change in way, which we did not know. COVID has actually accelerated a lot of it, right? So that requires so many meetups in the US, right? And to read more about how it can change, I mean, look it up, there's one just up on LinkedIn, you know, you can follow and go there. That's what I have today, happy to take any questions. It's been quite a long time and we've been out a lot, right? So from my knowledge about entities, but I do a little bit of ideas, but most of the actual artwork is not stored on the blockchain itself because of the space between the artwork that you want to buy, you can buy, you can tax load and some other amounts for the consent of the people. And so we have actually stored on the blockchain the customer data asset, it will make that for the bigger market, right? So if there's a lot that's supposed to be happening, they try to go down. And what you have to leave the documents daily, but leave it to something that doesn't exist. So, I mean, I think this is a very common problem that's been discussed with people right now, how the trust aspect and ownership is actually that use cases to repeat the question. So, I didn't get your name, Deepika. So there's a question from Deepika here. She is saying that a lot of the artwork, you know, digital, it's created a copy, it's stored on a centralized server, it would be a cloud server or somewhere. And the blockchain actually just simply stores a link to that file. At some point I know that file can be deleted, it can be moved, it can be removed. So how do we manage, show that actually that it exists and how do we track the ownership through the transfer process, right? I believe that's a question. So good, that is actually a very good question. I mean, I mean, fraud has happened in that, right? So people did exactly the same thing. They gave you a link, they created a link to a blockchain transaction, they said, here is the artwork, and then the artwork was sold, the transaction was done, they deleted, it's like, you know, you have to buy the Google Play when you go and delete it. That is called a Raqqool. It's a very well known term in the artwork industry in NFTs. So if you just Google Raqqool, you will see some very good and clear definitions. So it actually happened. And then the industry got together and said, how can we solve this problem? Because end of the day, you have to protect the user interest. Again, going back to the trust, if you have an application where people are doing these things, no one will come to your market, no one will come to your museum or anywhere. They say, hey, you know, I get cheated here every time, going back to the problem of trust we talk about. So how do we fix it? So then, like you have distributed and decentralized blockchain, which is the protocol, you have decentralized storage as well. What you do is instead of a Google Drive, I mean, you can put the same amount of Google Drive, but now if I know it's Google Drive or a AWS link or a short link, I will not trust it. I know this can be deleted anytime. So in terms of storage, that is the one because it's distributed in that sense and you cannot just delete it. Second is that link with IPFS. You can actually see it. So as soon as you see drive.google.com, you know, it's a Google Drive, it can be deleted or you can lose access to it. As soon as you see an IPFS or at least in my store, I think you know it's IPFS, but there are more solutions actually people who that look up this project on Lighthouse, right? It's a recent one. People in Bangor that built it, I was talking to them again, a very good solution and then gives you these decentralized storage. So if it's a decentralized storage, I trust it a little bit more, right? So that is one. And the second is it has now well-defined standards. So if you look across, you know, NFT standards, it has come to the stage that every typical blockchain protocol has defined how the enterprise should be, which means A, how it should be structured in terms of what data it should carry. Second is what were the minimum fields and the optional fields as well. So as a minimum, you have to have three to four things in every NFT, which is the name, a short description, a link, which is a decentralized link to that, right? In a storage of the actual media and then some various attributes, right? And of course, along with that goes the ownership data as well. So every time it transfers, you know, it goes to him, it goes to him, it comes to me, it goes to him. You see that ownership gets done and you are referencing the same decentralized links that you had in the first place, right? That is how, you know, this is the media which is traveled, right? Versus because the Google right comes, comes, comes here first step. I didn't know the link. I put something as Mickey Mouse and select it. And he will never know what there is an article for this. So that gets done. There is still some challenges to it. I can take that media out of this chain. I can put it somewhere else. I can break that link to take this in possible. So what next comes is digital media rights. People are trying to do that. It's again, it's part of research. If you are smart enough, you can become the product, could be, you know, put it to the labs. It will be a very good project because that is something which people try to do. Second thing is on the same marketplace. Like I said, you have an art piece. I can take a print screen of it. I can put it back on the same marketplace. So how does the marketplace detect it's a fake? Well, it's a duplicate. So again, using AI, using machine learning, using image search, matches, you can actually detect duplicates, right? And it's again, a very, very good area for you guys to take. And actually if you're interested using AI and blockchain, you should start looking at billions of solutions like this. People will actually market places, popular ones, you know, they'll actually take this solution because that is, these are some of the other problems also which come with that and people are actually solving. It's not everything is solved yet. It's like there's a lot of opportunity if you want to work on the whole engineering part of it, these are some of the solutions you have to solve. And finally, the other third piece is your physical assets, right? In India, people are making some, you know, acrylic or canvas or you know something, those get converted into a digital form and then they are shipped out or sent. How do you link those two things, right? So a lot of interesting things still to do, right? And that is especially in the domain of just pure artwork and then that was me. So again, thank you. It was a wonderful question. Okay, you don't get extra smooths by the way. Go ahead. You can actually. You can. Okay, so you can. That's the motivation. Which was the value of the part of the public of AI and versus the family particularly. That's similar to like buying a company or buying shares of a company or other company itself. And you know, let's say there are these things called means which remain with everyone's making money. So, I think the use cases are quite similar. You know, when you say instead of investment in stocks, you get to might have them buy at least five feet, so like what is the distinction that maybe I didn't understand. What was the distinction you're trying to draw the key to pulling an empty piece of land worth stealing the stocks that are kept on the loan. There's no, it's the same. It's the exact same mechanism. The NFT is just like, it's a visual representation when you buy a stock or you go through a broker or any of these online trading platforms. They give you something like a teammate team at shares, right? You get a receipt or something that we have X amount of fears. So like I said in the beginning, the NFT is a visualization of the same that we own something. That's it. If the energy is not there, then you have a blocking plan that you can always go and look it back again. Bookmark or hyperlink because you can store it somewhere. But the NFT, you can say, hey, you know, I have 10,000 shares or 10,000 units of this property. That's the difference. So it's a visualization. It's a great visualization thing to your blockchain transactions, right? In that sense, in this particular example, it can have a nice photo of the building or the stuff. So even if you see, you look at, hey, it's still with me. I'm not lost in that kind of thing. But yes, one-to-one, the mechanisms of how it actually gets done is very, very similar. So it's actually both. It's actually both. The ownership, because the ownership actually defines and once you transfer that ownership, that is what with the China example, you know, if you transfer that, you know, part of land piece or, you know, real estate to him, saying, I've given you the NFT, you can go to the board and say, you've given me the NFT. This NFT represents the piece of land, that land belongs to me now. That is what is, you know, in the legal partner, that is something which is still a bit of a gap. But as soon as people understand it, they recognize that your NFT can represent the underlying asset. And if you have transferred the NFT as a part of a sale deed, the underlying asset should also be transferred. Yes. Yes. That is my view. Please, you guys have a lunch and dinner. Anything from this side, guys? Questions? All good? Energy market class. Yes. It's good to see everything which starts, you call it a bubble, right? In the early 2000s, there was an internet bubble. Everyone wanted to do an IT job at that point of time where people get more relaxed. So that is what happens. It's a craze. People don't know what it will be. They just keep buying, buying, buying. At some times there will be a correction. This is where we are, right? And then people will start looking for examples like this, you know, something which creates more value. So it's just how, I mean, at the end of the day, everyone is greedy. We are all greedy, right? We don't know what it will be, but just let's take it and keep it. We'll see what happens tomorrow. It's the same. So there's nothing bad with that. What is good is all the randomness which was there, that will go away. Only the serious people will be there. And now if you're trying to build a career, build a project, build a startup in this, you will actually have more value. So people will treat you more seriously. If you are doing it at that point, you will say, you're here tomorrow, you will disappear. So for you, it's a benefit, right? I would say. It will come. It's coming. And a lot of it will come. And the way I say this, think about this. I mean, all of you would be driving something, a car, motorbike at some point of time, scooter, whatever, cycle. Now, if your cycle's cars, motorbikes did not have brakes, would you be able to drive it as fast? No, you'll be very slow. I don't crash. But the brakes actually help to drive the car faster. They don't help you to stop the car. The regulations are the exact same thing. Once you have regulations, you actually know how much, how far I can go without getting into trouble. So regulations will help you actually do better stuff, get more value out of this. And customers will trust you more. And that is where regulations help. So with these kind of land projects and, you know, art, transfer rights, not because some of the artwork you can transfer, but you don't get the copyright to. So you're like, well, I got bombed out. I did not get anything. I paid so much for this thing. I cannot do anything with this. So when regulations come, it will actually say that if you have transferred the NFT, the underlying rights also, which today does not exist, right? So it will actually help you, you know, as a, as a, if you're sitting here, then you're in the right place. So anything, anyone else, final thoughts? Okay. So thank you very much, Saurav. So we have a small token of appreciation. And we do have multiple movies. This is a presentation, small token of appreciation. Thank you. So thanks, Saurav. So up next, we have another speaker with us, Nanju Nanju. I mean, I hope I can follow him. So, so Mr. Nanju is a, I am Bangalore alumnus. He's also alumnus of Bangalore University. And so he has been, he has been a role model in this ecosystem in this web 3.0 space. And I mean, he has been a coach mentor, whatever you can ask related to your establishment. If you have an idea and you want to know about it, he's the person that you can blindly go to and ask any of your questions. And so he has also been very active in the community space outside office or engagements. So he has been organizing hackathons and other events with IASC in Bangalore. And yeah, stages for you, his full name is Nanju. Thank you. You're probably, so the people can see you. Okay. Sure. Yeah. Yeah, this is good. Thank you all. Thank you. And after several, several presentations, I just want to, I would like to take you from Distributed Economy. I have pushed organization from Distributed Economy. I've come to organization also from security documents. I don't really have pushed organization for the NFT. So that's another, what do you say about that? Set the ground first. And how do you say Distributed Economy or lately it's a little more popular as a stakeholder economy? Okay. So this is how I approach and maybe this statement also is another thing that I would like to start with as a point of setting the ground that see every effort of building a business or investing is about value creation. And what I like most about Peter Thief's approach is that most of us are always working towards creating value, but value realization is one area where we as particularly Indians are very poor. Maybe if we get time for moments, I will come back to a story about how we as Indians approach value realization and how maybe China approaches, if time for moments will come back. So this is a generic definition of Distributed Economy. The idea is that every time we talk about business models or any business we approach, we talk about who are the stakeholders. But when it comes down to value realization part, that is where the stakeholders get chopped into very few problems. One is a promoter founder, two investor, and three is usually employees who get that risk impact. There was some interesting question. Then I have different take on those responses. So probably we may have the same thing, but from a different perspective. On the east office is another area of how it gets at risk. And obviously the other components get messed up. So maybe we can run quickly so that I thought I can also try to talk about some stories on that part and also discuss on the some of the use cases that are already prevalent. I also like to use some statements which makes it easy for us to go forward. So coming again, I just mentioned that my personal approach to Distributed Economy and Organization is from a point of doing business. So we always like to look at business model and we always have various business models. I assume all of you are entrepreneurs here. Okay, I sincerely hope all of you will also become entrepreneurs someday because we just need more of them. And I'll also give you another reason why it should be. So see, then if you're not an entrepreneur, you can just be family. You would still be family with some of the models, but if you're an entrepreneur, you know, most of the time we'll be using multiples of these models in the very business, right? We, from a point of monetization, from a point of customer engagement, sometimes even to just acquire customers, we use some of these models. So there are four models and essentially that how do we maximize our stakeholders' value? That's the whole exercise of picking up, picking or trying to do a mixing of business models. So that is how we approach business models. So that is where I want to bring you more into Distributed Economy. So just to get the concept clear, you just talked about the question of stocks. So this is obviously a very straightforward way of value-sharing by the entrepreneurs, right? From a point of keeping their stakeholders together. So there is one particular story, all of us are popular. I mean, all of us are family with the most popular post-a-child of ESOPs in India and also globally to an extent. But in India, it is the stories of people who became millionaires. I don't know if you know, but I actually know one such person who obviously would not qualify today in the same organization. But if you just google it, Infosys today has got close to 3 lakh employees and value of Infosys has got 100 billion plus. And you know, when was the stocks given out to every employee, including their driver to pure as they used to power in those days, to office buyers No, what is the value of the company? Sorry, 10 billion? I'm asking what was the market capital of Infosys? It was nowhere near a billion, nowhere near a billion. Today, the company is worth 100 billion plus. So see, the why I'm urging each of you to those who are entrepreneurs become entrepreneurs. This is the change entrepreneurs can bring into the world. See, when the entrepreneurs were running, Infosys shared the value of Infosys through the everybody. The guy in supply picked up the used cup out of the table, also got it through the driver, everyone got it. And today they are worth more than 100 times that. And if you google it, it's about 8000 people are the current ISOP beneficiaries of Infosys. So this is a big change when investment from our investment group runs a business versus founders run a group. That is another reason why we need to be approaching distributed economy and tokenization can help it change because what happens in the ISOP typically is that see it goes out of our group as a founder, you have to keep a set. But tokenization can change that. So we could just give you all understand I guess we can just get back. So this is another thing just to get the context of it. You can very much later. I'll just get to this part of it. You know, close to 73% of Uber is today owned by owned controlled by financial institutions. See, first thing is anybody from the investment community here? See, investors don't want to be running businesses. Right? Investors' intention is never to run a business. Investors' intention is to make better of their investments. But immediately the existing ecosystem of equity based investment is facilitating exactly the opposite aspect. Investors own and control the organization. In fact, in this very company, the co-founder is kept as an unexaggerated product. Founders own. Co-founder is kept as an unexaggerated product. But I think it's more like they want him just to have at least one co-founder be allowed. See, this is what happens and this is what our current ecosystem facilitates. This is all the more reason why we need to be looking at tokenization. I'm just trying to give you some cases as why we need it. And so, incidentally, the presentation, these are our videos. So that's why it looks out frozen. This is previous. So this is what we are going to talk about. When we approach two other stakeholders, we tend to map out. This is in one context. You can, whatever the business you are doing, you're trying to map out all your touch points. So all your touch points become the stakeholders. So usually we tend to leave out most of the input. And of course, even manufacturing business can use this. Currently, it's already under way as something in terms of violent manufacturing in Germany. Anybody in the manufacturing business here? So distributed economy is in practice already. It's not just been a concept around. And we're also trying to put it in place, but it's slowly catching up in India. I'm also working with our small, medium manufacturing companies and trying to get them to do this. So the same thing is happening. When we look at it, it becomes much more easier. Maybe the last story, if we get time, we'll be able to do it. If you want to stop at anyone, you can talk about it. So one of the things we talked about, you were asking the question, right? See, traditionally, the business has been approached from an equity market. It's set to like, okay, spending based. One of the things I want to, one of the two things I primarily want to highlight here is what is a significant difference from a traditional model and an organized model. One being, it is, it's more about ownership and control, the current model. That is what happens with the investors taking over the company over a period of time because the more equity they gather, they end up owning the company. And today, I think it forces all co-founders put together that have less than 5-6% actually, including their family members. So that is what happens. And second thing is that the liquidity is blocked there, right? So that is a significant difference. This is another thing where one is that the reference to ownership based here is that the ownership remains with the founders here. You as a founder can still own and control your company while you are making the liquidity open so that it releases that it gives a lot more flexibility for investors to derive the value of it. So it would have been really nice to have some very investors into the conversation because people should start to at least have some conversations to know that there are a lot of investments happening on tokens only. See, no more equity based money. Of course, the large firms are doing a hybrid model. They're also taking in some equity. They're also taking in some tokens. I think it's a good model, good practice to have one. Correct. It's a similar concept but for the limitation we have. But see, a lot of investors are driving Indian startups to Dubai or Singapore because they say that it's highly volatile and it has been volatile so to speak. RBI, the Ministry of Finance, they've been more rhetoric which is not very positive. So that is what is getting a lot of these investors to encourage their companies to come here and then need some. So that's what's happening. But seriously, there is a stronger case for doing business in India. If you don't have any intention of getting into human trafficking or drug peddling or arms peddling, you don't really have to worry about it. See, it is true that the compliance is not there but the reality of the business and the world is that compliance follows business and that's the way it is. Planes started flying almost 30, 40 years before the aviation was given. That's how it is supposed to be. You can't have a rule and then invent to fit it in the box. Same thing with the cars. Same thing. If you remember, many of you would be familiar that there were strikes about taxi guys protesting. In fact, one of the few states in USA has banned Uber where it came off. That's because we needed separate license to ride a private taxi in India. So that got changed. Of course, Uber was more of a poster child of a circular economy. To an extent, it did great deal of value because I don't know if you have had interactions over a period of time. I remember where people started driving rented cars, then they started owning their own cars, then they bought another car and bought their brother from their village to drive another car in Bangalore. So Uber did contribute to from a circular economy point of view. But where it is self-limited is that if only Uber can still do it. If they can only token and see they are present across 130, 120 odd countries and Uber tokens, if that value can be realized with every driver, close to two and a half black drivers across the globe who contributed to it. All they take home is the miles they drive. But if they can also have that. And best part is that it does not have to go out of Uber equity pool. It can be a lower, there are various ways we can actually bring a whole security token. But of course in the US, maybe because many of these guys are not driving security tokens, security token itself is not legalized in the US. So that's the unfortunate part. But I think they will cover maybe with G20, a lot of these things is both changed. So that's what we mentioned obviously, the situation is happening basically. Correct. It's a complexity but because it's again on the token model, it can be, value can still be realized. See what's happening is that see most countries like India there are no utility value for the ocean. So majority of them recognize it as an instrumental investment. So you can always legally have a token. And see that's where I think we all can have 100,000 million complaints about the great government of India, but they have approached it in a very, very simplified way. It's the best way that could have been approached, which is to say, you monetize it, you pay the tax. So pretty much everywhere. In fact, even in Dubai, there is no utility token, right? You can't buy, you can't buy a coffee. Like, in fact, people used to do it as a fancy even in Bangalore. I remember a friend who paid three Bitcoins for a coffee in Kormanda, right? I mean, it sounds crazy today, but at that time also it sounded crazy because the coffee shop was not sure what they're getting into. But it was all a game. But today it sounds like that game must be crying. I don't think it happens like that. It's just that at that point of time, it was a cool thing to do. So I think much of these things already talked about. So we'll just skip this slide. So only difference being in all the previous conversation to here is that I think a lot of these things are better achieved with the securitization of problems. See, securitization demands a lot of complaints and it is bound to come in and we need to be a lot more open for it because that's the only way things will get to a much larger scale and things will happen much faster. See, I don't know, how many of you remember what was the original conversation happening at the time of Bitcoin coming in? That who was the major villain portrayed at that point of time? Banks, right? Banks. It was all about banks. And, you know, funnily, I kept watching, waiting that any media will pick up that and talk about do you realize that CBDC has become the biggest bank killer? It's the biggest bank killer. See, everything rests with the central bank, the Reserve Bank in India, I guess. The banks are completely, I mean, it's open to any of the FinTech players here. This is going to be another financial services company cooperating with anybody else. Of course, I think partly they will still have a lot of hold because the world will not become completely digital rupee because it will also be a E-rupee and we will be in a multi-token economy. So we will also have physical rupee and that is where the banks will try to hold some relevance. But since much of the international transfer will move to digital currency, so that will weaken most of the banks' shares. So any of you are holding stock, some banking, so probably you can enjoy it for another year or so at least. So that is where the power shift is happening. So that is where I think it's a much stronger case from a securitization of tokens. We've been talking about the same thing. I think we'll talk, we'll move further. So here are two things I want to talk about. One is for entrepreneurs, what's in it and for businesses also. And we already spoke in brief, but this has been viewed in the context of what I've been talking about in a distributed economy with tokenization. So distributed gives the scale. So that is when we are able to roll out multiple products. So the context of manufacturing, so if you have to set up, let's talk about this OLA. OLA has created one world's largest factory. I mean, this is the China model. This is what China did 50 years ago. They created one of the largest factories for everything. And today they have started suffering, not just with that, because there are various of the problems, their poor dependency, which got upset because of COVID, the poor's income and so which led to their electricity problems, which led to asking the factories which were running 24-7 to work on one shift instead of three shifts. And even one shift had to run alternate days. So effectively imagine the factories which were centralized running 24-7 were forced to run eight hours a day instead of 24 hours a day and run three days a week instead of seven days a week. So all these things created so much of problem. And in fact, many of the companies, some of these regional governments in Germany started looking at it almost four, five years ago. They started looking towards island manufacturing. So essentially they were looking at creating supply chain ecosystem locally for Germany. And they wanted to reduce their dependency on China. COVID obviously amplified it, and if we in India start taking it all, it becomes much faster for, like, all our time to set up a centralized factory. If they were to create islands or hubs of manufacturing across India, right, if they were distributed, the whole value creation would be much higher. And also the problem they brought in with getting into bringing in a sleek design for a bike, I think I'll get into the deep bike problems. But there are a whole lot of those problems they brought into the centralized could be much more easily addressed to a distributed model. So that is where we employed distributed technology model with localization, scale, and a much faster scale, and better modernization, and better value creation, and most importantly, value realization across the statehood. So that's what is possible. So few case studies. I just want to highlight this. Some of you are familiar with this. How much time do we have? I mean, you can take few moments. Okay. So your question on the art, right? See, interestingly, there's a company in Switzerland. So what they have done is that they don't approach art with NFT, right? They call it art security to owners, but they're primarily working on an ERD model. They are not working on any particular blockchain technology that is currently in place because they want to have their own proprietary approach to it. And they want to partner with a bank. See, that actually addresses most of the problems otherwise the system has. So the bank becomes a bank has an ecosystem infrastructure, technology infrastructure as well. So it is centralized. They keep the art there, like how the money is kept in the reserve bank. So the art is kept in the reserve bank or in the bank, and then it is tokenized and multiple ownership is facilitated ownership from a token aspect. So you don't own the art and you derive the value of the art and your investment. That's the first statement of Peter Thielry talked about, right? So this is just not about value creation. It's also about value realization. And it is best achievable through tokenization. And in fact, these guys are already doing event fun. Their name is something like, it's got an Indian tone to it. It's really funny. When he was talking about it, when you were asking, I just looked up, but I have a short memory for names. So art Monday, and that's how it sounds. It could be an art day because it's Swiss French, right? You want to go with it. It's very interesting. And they're actually managing over 220 plus million dollars a set, which is essentially on them. So they claim they are the only one. So that's where I put this, this less than 1 billion. It's somewhere almost 500, 500, 600 billion exercise. See, this is very interesting if you look at the whole ecosystem of tokenization as then two years, not from an aspect of energy, from an aspect of tokenization and securitization of assets. See, there are companies doing it in India because of the biggest business having a lot of traction. In fact, there are a lot of Indians who are and I'm sure all of your family with pay to play, right? So that's big and most of it is happening through that. And there is a lot of good traction ownership in India. But see, if you look at a fractional ownership, there is no ownership per se. It's a fractional value realization of truly a history. So you don't own it. It's like, which is that single-mode sparse from the beginning of the thing. It's got the smoky thing. It's a fantastic single-mode. So every time you buy a bottle, you get an certificate that you get one square root of land. It's not Guinness. It's not Guinness. It's not Guinness. That's realization. I'm forgetting the name. If you're in this single-mode, you should try that. But actually, for a fancy, you're adding one square root of land. So it's only a fancy aspect of it. So here, it's more about that. So you don't own it, but you get to realize the value. And I think that's the best part of tokenization. I would like to talk about the last value realization that we had. You can take two, three more Any questions or should I give you the story of India's value realization? Yeah. Okay. See, all of us are familiar with coffee. So one of the investors was, usually, I get pardon to help them with their investment, invested in coffee for a schedule. So they wanted me to look at one of the investments into the coffee space. And that's when I started actually looking into coffee, what's happening in India, what's happening in Israel. This was around 2018. And every coffee day had 2,200 plus stores across India and five more factories outside of India. And all of them are familiar, right? Unfortunately, I think since I got more people to know about Siddharth since, so there are 14,000 coffee, 14,000 acres of coffee estate, which was a captive supply So it's an amazing thing, right? You started this and any number of years you want the core of your supply, you have a captive supply. So it's like a crazy value you should have. And anybody can you want to guess what was the value of coffee day in 2018? I don't have the exact figure approximately. So it was around 800 million dollars. So how much is that? So I'd really like to talk and go back with this, but unfortunately, you know, when you deal with some investor community, you end up doing this million of cents. So anyway, so 800 million dollars, 6,600. Okay, today's value. So that's still significant. It's not bad. But around the same time, there was a coffee startup called Luckin Coffee in China. Any of you familiar with that? See, Luckin was one of the fast-growing coffee business, coffee cafe model in China. And in 2018, they were opening one cafe every 15 minutes, every 15 minutes. And by the year 2018 or early 2019, they were supposed to block 2,000 stores. And as of 2018, at the time I was looking into it, they had zero investment in any of the coffee estates. They didn't hold anything. So they were buying it from certain parties. And mind you, China got into coffee for the last many years. Since the time Starbucks entered and since the time most Chinese started traveling outside is when they wanted the history part. Unlike India, we got introduced to coffee almost 350 years ago. So we also started growing, but we believe that we own coffee today. But we're all immigrants. Coffee is also there. So 350 year old history, so which is good. And still, if you remember you bottle anywhere outside of Bangalore, you get shitty coffee. That's how it is. So imagine, rest of India, much of North India, you don't even ask for coffee. You prefer chai because that's how it is. That's India. And China just getting in. And Luckin Coffee with these things, any cases on the valuation this time in dollars, just throw a number that's okay. Yeah, the way I'm putting it up, it was $4 billion, isn't it? Just imagine so much of value here. And it was $800 billion. And in a market which is not even comparable to India from consumption point of view, and supplies dependent on third party suppliers, they were actually buying through traders. So imagine the rate at which a coffee dig could get coffee and Luckin and in the market. And despite all that, Luckin was valued at $4 billion. See the one thing, I'm not directly contextual in any environment, but see you as a start-up entrepreneur have to start realizing from a point of value realization. And obviously, tokenization can give you amplify the whole realization aspect. That's why no matter what business you do, look at tokenization. And you know, one of the big part of tokenization is that if Siddharth was alive, we could have probably got him to think about tokenization. So think this, you don't have to organically plan that. It is designed and built that. So that's what makes it a lot more easy to go about. Thank you. Any, thanks again. No, that's fine. So again, we were very grateful for you. We saw processes that we want. We need entrepreneurs in India. We need job. We need us to think in that direction. And Web3 is a great gateway for us to enter into that entrepreneurial journey. So yeah, it was inspirational. We will definitely like to invite you further for more such sessions. So for all the participants who are in person here, we will be taking a break now. So we'll be taking a break and we will be collaborating or joining all the virtual rooms back and we will be joining the main room sometime. So for now, until 2 p.m., I think we all can take a break. And once we are back at 2 p.m., we have a panel discussion, which is again going to be hybrid. We have panelists present in Kerala, Noida, virtual as well. So we'll take a small break now and we'll join back at 2 o'clock. We'll leave the Zoom call recording on and we'll leave the Zoom on. So yeah, I believe there is the session in Noida still going on. I guess the Kerala session is done and the virtual sessions are done.