 Hi Julian, can you make Kamlesh the co-host? You're on mute Julian. It's going live now, it's live on YouTube. Julian, can you make Kamlesh the co-host? Yeah, I don't know whether that will stop the YouTube live, we'll test it. Yeah, it's working, you can see the YouTube live. So Julian, I'm saying you also make me co-host. Yeah, yeah. Also make me co-host because... Yeah, absolutely. Kamlesh, make a co-host. Kamlesh, make Exocort Office as Jai as spotlight right now and then we'll switch to Julian. Okay. And can you make me co-host because then I need to be able to share my slides. Okay, okay, okay. We're live, live on YouTube. Very cool. Awesome. Good morning everyone. Good morning. So I know we are live across multiple mediums today and we are experimenting this for the first time. We are live in Tiruvananthapuram where the Kerala Blockchain Academy is hosting the event from IITMK building in Technopark Road. And then we have HCL hosting the event in Noida and Vikram is coordinating over there. And in Bengaluru, we have Exocort Office. The Kerala Blockchain Academy is hosting the event from IITMK building in Technopark Road, Kerala. And then we have HCL hosting the event in Noida and Vikram is coordinating over there. And in Bengaluru, we have Exocort Office where the Kerala Blockchain Academy is hosting the event from IITMK building in Technopark Road. Can we mute from the Kerala side? I think the YouTube needs to be... You can go on. So again, welcome everyone. And this is the first time that we are experimenting a hybrid event across India. And hopefully this is successful. We want to do something like this going forward. And for today's event, the Blockchain Techfest 2022. So I just want to ask one quick question and before we get started, right? So can somebody tell what is the specialty today? Like what marks December 17th? And there is something more. Anybody online? Anybody can tell me what's today's special? I mean, why is today's date so special? I also know. Anybody else? I think someone posted in the chat, Karthik. I think he only posted to me only. It's a Hyperledger anniversary. Yes, it's a birthday of Hyperledger. It's also Hyperledger's anniversary. Congratulations. So Hyperledger itself was... I think Julian would be better person to talk about it. So since 2015 and now it is 2022, December 17th marks the anniversary for Hyperledger foundation itself. So today marks the special date and we are in a special occasion and special event. So yeah, congratulations everyone. And to kickstart the event, we have Julian Gordon joining us from Bangkok. And he's VP at Hyperledger and also he, for Asia Pacific, he also leads OpenSSF division within the Linux Foundation. And he is always supportive. I think if you are involved with Hyperledger India chapter, you might already know him, right? So anything, any day, anything that we ask him. And then there is always yes as an answer. I never heard us know as an answer from him. And Julian, we miss you. We would have loved for you to be here in person, but we still see you online on Zoom. So over to you. And we would like you to speak your words of wisdom. All right. I'm not sure about wisdom, but thank you very much. And yes, and thank you for this amazing hybrid event, right? Across all these multiple destinations, all these multiple countries. Thank you, Vikram, Arun Kamlesh and everyone else that's involved. So I'm going to share some slides for about 10 to 15 minutes. Now, let me get those up and let's hope I can share them, right? So let me just go and get it right. There you are. And let me share. Okay, so it's the fourth anniversary. So as I said, congratulations to the Indian community. Can you all hear me? Yes, I think so. Yeah, so I thought I just quickly go through a few slides. I talk a bit about remind everyone what Hyperledger is right. Just I think we all know, right? But we are this special open source, not for profit. There's accelerating the development adoption of business blockchain technologies globally. And the reason that businesses trust our technology businesses governments and education trust us because we are hosted by the Linux Foundation and with all the great expertise and provenance and track record that brings we have we are neutral and collaborative and I think what is always key is that everyone is welcome. So diversity is our strength. And these kind of events are really, you know, key and the chapter to what makes this community so successful. And ultimately we develop code that is by business for business. And that has, you know, we're continually never ending strive to make our technology enterprise grade and relevant and and and good for the for the community. So seventh anniversary today of Hyperledger. Yes, if you look on our website, you can see seven years today of the first announcement that came out on the 17th of December 2015. And from that we have accomplished so much. So these are just some of the stats. We have had over 40,000 contributors, 1.27 million contributions, nearly half a million commits. And we have an increasing number of repositories as our portfolio or umbrella or however you like to describe it, all of our projects are growing, which is great. But there's still so much to do. I think we're still very much at the beginning of this enterprise blockchain journey. We still are a number. So these are some of the things that happened this year. We're still at 20 for the Forbes 50, we're the number one and actually in any survey and enterprise blockchain, Hyperledger, Hyperlish technology is always the leading one and being used by the top companies to the very smaller startups to bid to education to governments around the world. But I thank you the community for making that all possible. We did launch this year and I think this is a, I'm not sure this is the year of CBDCs because I think they're going to be many years to come, but we have seen a lot of activity around CBDCs and we did launch this year our first ebook with all the details of what we're doing and I would say that Hyperledger is one of the leaders in the space, Hyperledger technologies from this part of the world to Europe. Obviously we've got some very exciting, I think everyone's watching the rupee, lots of very exciting stuff and please, if you want to get more information about what we've done in our research, go to hyperledger.org and download this ebook. We also did a lot of this is this here was a Davos we're just about to have Davos again. So literally 11 months ago we were really, really taking our kind of our strategy on CBDCs to a different level. We had this year we also had, and thank you, I know Kamlesh, Arun and many went to Dublin, we had a gathering post-COVID and obviously that was challenging, many people couldn't come, it's hard to come from my part of the world, but we had over 700 attendees and we had a very strong attendance from India and if you want to look at all the recordings of their decentralized entity climate governance standard it was a full full, a full full, a couple of days in Dublin followed by a member summit. Our global ecosystem of HCSPs is growing and I think India, as you can see from this slide is very much a key component. We have our members, Wipro, Tecmo Hindra, Snapper, Mindtree, all based, a headquarter in India, but also many other global companies, Accenture, IBM, IDS, ChainYard, Cripsy, who are very much have a very strong presence and rely very much on the expertise that exists in India. So we're seeing this go from strength to strength and we have a few others we're going to announce soon in this space. We had our mentorship program, which I think there were five from India that's going to come up again soon, that has created many benefits for the hyperledged community, it really gets an opportunity for a more, sometimes a more diverse group to come into our community. More source care gets written and it creates valuable insights to new developers on the onboarding process. So thank you for everyone who is a mentee and a mentor as part of that hyperledger mentorship program. We touched the global community. I just touched these are some of our internal stats around social media, obviously through COVID it took off, but I just love the fact we now have 1.4 million YouTube views. We have an amazing, and this is going straight to YouTube itself, right? We have an amazing repository of content and knowledge from communities from experts around the world from members in our YouTube plus LinkedIn and other things. So really, really a great year and a great amount of growth in the spread that we have as we drive growth to the global community. And what we see as a maturing blockchain market. So I think what we're here today is India. So let me talk a little bit about India. So Hyperledger in India, I think is a very vibrant community. So we have a number of members and thank you for our general members who are headquartered in India. As I said, there's many other ones that are not headquartered in India, but are in India. So to WIPRO, MindTree, TechMahindra, Snapper, FutureTech, Zee and Infosys. Thank you very much. And we see them working and being very much on the world stage, right? And providing the expertise and enterprise grade for the planet in terms of services around Hyperledger. And also thank you to KBA, Corella Blockchain Association who are, I think being a member, must be four years at least, right? Who have been there since the beginning at Corella and also Senkets are associate members. We also, I talked about the CBDC book, we also announced this year, we launched the Hyperledger Action India e-book. So this is the second e-book we've done and we're focused on India, which really relates to how key we think the Indian community is. And this really was designed to shine a spotlight on our Indian members and the community and a spotlight to the rest of the international Hyperledger ecosystem. So within it, if you please have a look at, you can also download this from our website. You can see some of the work that the Indian members are doing who are on the front line, many of our Indian members are on the front line of blockchain deployments globally and development of critical underlying platforms and technologies. So yet again, I thank the Indian members. We have, we highlight some of the exciting work, it talks a bit about what the chapter's doing. And as we all know, the Indian chapter was the first chapter four years ago, you know, and it just has thrived and shown an example of what is possible. So I thank you for that. I particularly want to thank Arun and Kamlesh who have made a lot of this possible, who are our co-chairs of the India chapter and also Vikram and I know others who are supporting the community. It's all about you. Thank you for your dedication and support for what we're doing here at Hyperledger. We have the India chapter. So let's go a little bit more in depth there. So happy fourth anniversary. So definitely growing and maturing. So, you know, another exceptional year of growth and supporting the Hyperledger India community I see. And also supporting, I would say, the global community as well had many activities which are part, you know, been driving global adoption and global synergies. Promoting contributions to projects, providing a platform collaboration and mentoring and support, showing the projects, community activities such as this. But also, you know, doing the, we also did some of the first hackathons, virtual hackathons during COVID. So really, really very supportive of the community and maintainers helping, you know, what's happening and also supporting some of the SIGs and working group activities globally. Here's a little more detail. This is actually a picture when I was there in July. We have here, if you download, we have a map with all the different meetups that are happening across the region, which is supported by the regional chapter. We have many maintainers, contributors across multiple Hyperledger projects within India. For instance, 7% of Hyperledger basic contributors are India. We had five interns. We had two Hyperledger technical oversight committee. And by the way, our technical steering committee because of, you know, the foundation and how we're grown have now become the technical oversight committee. So that's Arun and Kamlesh are on that committee. And we also have the chair, Vikram down in Delhi for telecom SIG. And, you know, we had the Hope Electric Global Forum 2020-21 which will be right soon. So that's part of the global program, the global program that came out of India. So finally, because I had a short amount of time today, we have three new projects. I think those will be covered today. We have a non-creds, Bevel and Selang. Ultimately, this is what we're all about these codes. Please do look at those. We have a continual sheet growth. I'm not going to go into detail, but all these have had a large number of commits and growths. We also had to end of life. Not happy, but we do it because it's good practice. We end the life of few projects, including Explorer, but I think we're going to hear today the work that's done at emphasis and Arun's doing. We may see, we're going to see Explorer come back. We're going to, I think that's something you're going to talk about today, Arun, right? So I thank everybody for that because that's just the community speaking and with that, I would like to say thank you for everything that you've done in 2022 and I hope to see you in 2023. I hope to come to India maybe in February, but as Arun says, I'm always here at the end of WhatsApp, any kind of communication email and I'm always happy to help and support the community. So I think we're now going to go to see where Daniela is. Have you seen Daniela? I think she's somewhere around, right? In Bangalore perhaps, baby, maybe? Did I hear that? Yeah, maybe. So, does anybody know where the Exa Thought offices are? I'm here in Bangalore right? I'm here looking for Exa Thought. The Blotching TechFest 2022 is happening today. Does anybody know? Does anybody know? The India Regional Chapter has put this together. Can anyone help me? Just kidding. Just kidding. I am not in Bangalore, but I do wish I was there for the Blotching TechFest 2022. My name is Daniela Barbosa and I'm the Executive Director of the Hyperledger Foundation and it's fantastic to have an opportunity to welcome you all to the Blotching TechFest 2022 and thank the Hyperledger India Chapter for putting together this fantastic event in three different locations. I want to thank specifically the chairs and those who are organizing the Hyperledger India Chapter primarily and Rune and Kamlesh for always making sure that the Hyperledger India Chapter is leading the way regionally around the world. So thank you so much for your continued support. Today, I am very excited about Blotching TechFest 2022 and the participants, hopefully a lot of the new participants in our community that will be joining. I want to thank the sponsoring companies that are sponsoring the locations for today's event, including the Noida location, so hello to HCL and the Tera Rune in Karela Blotching Academy. So thank you to both HCL Karela Blotching Academy and of course the Bangalore Exact Thought offices that I cannot find. So I hope everybody has a fantastic day and I also want to take the opportunity to hope that everyone has a holiday season full of love, peace and rest with your families and loved ones and I will see you all in 2023. Thank you and have a fantastic event. Yeah, I think it was nice. It was great. So I'm not going to hand back. I think I'm still spotlighted so I think I'm going to pass the spotlight on. But thank you everybody and enjoy this great event and thank you again Kamlesh Rune and Vikram and everybody. Yeah, thank you Julien. Awesome. So hopefully Daniela next time when you are in India hopefully we will definitely take you to the streets that you are wandering around and so those are like narrow streets of Bangalore market and it's a good place to be, good place to visit as well. Some big possible sometime. But yes we are waiting for an official hyperledger event and hopefully we'll have that next year. So Julien we are waiting for your surprise coming up for us next year. Yeah, global forum 254. Well, let's work on it. So yeah so we will start with the presentations, right Kamlesh? Yeah, right. So I think first even I would like to invite you to present the how someone can start the hyperledger contribution and your recent contribution to the hyperledger which you recently even kind of put on off due to they are not able to find the contributor to the project. So Arun and Steve and a few people are started to revamp the hyperledger again. So I am making you co-host Arun and then you could start the presentation. So this Arun, yeah you are the now co-host. So did I need to make the spotlight to date Arun, correct? Yes Jai Sakow. Okay, Jai Sakow. I think this one that is correct which is Arun and Steve. Okay. Good morning everyone. So it is exciting. So we are trying this out this time and I don't know how it works and all of this is done in such a short amount of time and we couldn't be thankful more than thankful to all the community members including Jai and Steve. So when we were looking for locations and back to home. So Jai is here. Why don't you come down to our office? We have office later on like we can have an interview with our guys here. So yeah, it is just amazing. So great introduction to you and going to present you a topic that many of you might be looking for. So why would this end up like this? So so so so so for instance when we talk about blockchain technology of course you want to know what's happening but we want to know how other nodes are behaving, not just if you don't know and you want to know how things are behaving from Netflix to blockchain. Arun, Arun I think some voice is not clear due to this can you take one? Yes, so is my voice clear now? I think I should just play louder. Vikram now, how it is? Okay, is this better? Yeah, I think this is better. Can I say it? I don't hear it. Yeah, so I think I'll try my best to cover both virtual audience and the in-person audience here and if you don't hear me, let me know but as I was saying so why do we need a blockchain explorer project? So when we build a blockchain network it's imperative that we want to understand how the network is behaving. We want to know how other nodes are behaving not just my node but when you look at typical DevOps operations when the metrics are emitted we typically get metrics of our own node but that may not be sufficient on a blockchain level you want to know what's happening on the other node whether they are committing the same block as you are committing are they out of sync are they offline are they not connected to the network is something bad happening you want to get notified about those things and apart from that you also would like to know what's happening at the block level you want to know which block was produced recently and into which block I mean if you were to ask anybody who is non-blockchain native they would say it's all technical they need to understand the technology they need to understand the commands and only then they can go and execute those things and get details about those things so this project is all about that the Hyperledger Explorer it was a top level project but due to like maintenance stepping away from the project for a while the project was end of life cycle but the proposal today what I'm bringing up is all about to bringing it back into life and we are excited to see many community volunteers across the globe in fact have volunteered I mean it's not a surprise that many of those community members who have stepped forward are all from India that's one thing that I'm personally making a pitch today for you all to get involved and make contributions we'll walk through the technology and see what exactly it is but we'll overview of what the project looks like so of course like any other Explorer project will have a sign-in option where we want to remove dependency on the blockchain level when we talk about blockchain transactions we all deal with we all think in terms of keys and how to manage the client credential we want to abstract that away right so that's done in the Explorer Explorer takes care of communicating with the blockchain but for the user from a user experience point of view it's just a regular user account that I would log in and I would view and we'll have different roles to operate at the Explorer level and this is the current view that we have in the project there are views which will tell me how many nodes exist how many blocks have been created how many transactions have been created in this network and which is one of the latest block that got created and all of this is informational it really helps the person who is managing it and as we can walk through on the screens there are also options where I can see through transaction details what went into a transaction and there is also like some UX aspect of it if we need in terms of diversity if we want to improve the visualization we're working into a dark mode so such options are available and by the way all of that that I'm showing today are supported so these are the features which are available in the Explorer right away and so in this in this we can also see all the peers that are running and then at the peer level we also get the block height information this really helps me anybody who is managing their blockchain network to know which of the peers are out of sync with the rest of the networks in terms of fabric so again the Explorer tool itself is very generic right now it is made available for fabric it also does support additional protocols as well so the whole point of this presentation is for you to tell that when we talk about blockchain and open source contribution it's not always that you need to come with some knowledge that you need to have right so it's also the technologies that you deal with in Dane and IAO even that much is sufficient for you to start contributing to open source project and this is one of the opportunity where we as a community over in India can get involved and of course there are many other projects we have more maintainers coming in today you all will hear from them their experience and how their projects are built and how the community is working over here so again few more views we can get details of a block so again the block itself is like drop down you can view contents of different transactions that went inside a block you could also get information on the this is at the smart contract level right so you can see which smart contracts are which chain codes are installed and which of them are available across which channels so just imagine having a tool like this and how much beneficial it could be these are just screenshots of different UI elements that are existing and yeah so now what is this what is the proposal what is the pitch all about right so as I said the explorer project is there in some form today but we want to take it to the next level where everyone whoever is using fabric for instance they feel comfortable using it they feel that this is a must tool and they feel that this tool will benefit them in addition to what they already would have built right so in order to do that like we had couple of conversations so far and by the way all the meetings and hyper ledger everything is open for everybody right so all are welcome at hyper ledger as we say in India the world is one family so everybody is welcome to join any of the calls so these are some of the ideas that were brought up in our previous community call and we will soon be announcing further meeting schedule so if you would like to volunteer then definitely sign up like raise your hand or just send an email to hyper ledger labs mailing list you can go to google or some search engine and search for hyper ledger labs mailing list and subscribe to the mailing list and if you want to propose a meeting go ahead and propose it if you want to get involved in any of the project go ahead and just start getting involved so you have to initiate so there is nobody stopping there is no blockers there is no hierarchy there is no it's open community as you can imagine so yeah we had couple of calls so far on the explorer project and these are some of the ideas that we were brainstorming for instance we could have explorer to be built as a lightweight tool instead of making it a heavy weight right now that exists and then the other couple of ideas as you can see are it would be nice if the explorer itself emits metrics so at the node level we get node level details from the blockchain node but at the network level we don't have anything that would be emitted from the node so that it would be nice if we have a tool that would monitor network and emit those events that can also be used for our other thing purposes in troubleshooting production networks and making sure our production networks are healthy yeah and then there were few more ideas in terms of making sure that node is available it's not offline it is there for us right so yeah and with this I think that's all I had and I just had one more slide to showcase how easy it is for you to get involved so this explorer tool itself is built using all the technologies that you are already familiar with so if you are good in react mode I mean of course Terraform type script so those are the primitive skills used to build the project itself and the project is built in a way that we want development environment to be open for everyone so that's where the containerization concept would come in again if you don't know something then there will be community members who will support you on both the project and yeah and I think we are going to extend it with metrics so that's where the Prometheus and Rafaana would also be additional skills that you will gain I'm calling it that the skills these are the skills that you will gain so what you should come with is like don't have any expectations you just get involved community will groom you up and all that is needed from you is your passion to build something for the greater cause so with that I have a big question I am going to ask you a question sorry so all that we want is we want you to get involved and get initiated I mean initiate from your side and get involved in the community that's end of my presentation thank you I hope this presentation was helpful and if you have any questions on how to get involved in hyperledger how to contribute how to make your first PR or even if you don't know what is or how to make your PRs your commits how to make contributions or even if you have questions like how do I organize meetup events or how do I help if I am not a coder how do I help hyperledger community to grow in India so all questions are welcome so reach out to us anybody from the call that you see we have our weekly meetings on Thursdays at 3pm join those calls again you just have to search on searchbot hyperledger India chapter meetings you will get the meeting that's how easy it is so that's end of my presentation thank you yeah thanks thanks Arun yeah thank you okay can you stop the sharing Arun so Swajib you there right so maybe Rama is joining bit later so we can start with you I will I just make you co-host you put you on yeah hi Kamlesh I am here yeah so can you can you share I will just introduce and then I will put you on the sure let me just kind of try to bring up the slides so I will introduce Swajib Swajib is a tech associate manager at Accenture and he is around 10 years of experience in technology working in banking domain and currently one of the maintainer for hyperledger bevel hyperledger bevel is a project for deploying a deployed enterprise blockchain project like fabric like in the azikota so over to you Swajib just just a minute I am having some trouble sharing my screen okay Rama also joined so Rama will go after this one right let me know if you guys can see my screen yeah we can see yeah hi everyone and thanks Kamlesh for introducing me as Kamlesh was talking about I am one of the maintainers to hyperledger bevel through this session I will be just kind of giving an overview of what hyperledger bevel is and I will also talk about my own personal experience of how I have been kind of contributing to this project for the past 3 years before I kind of I know most of you here might be knowing what hyperledger bevel is but still I mean through this session I will just try to kind of point out what exactly hyperledger bevel is and kind of also talk about the journey of hyperledger bevel through the hyperledger life cycle itself so before I kind of begin introducing what bevel is the project itself was kind of open sourced 3 years back that time it was called as blockchain automation framework as the name suggests it's a framework to kind of automate deployment of blockchain networks so back in like early 2019 when we started looking at the blockchain ecosystem and then we did a lot of POCs with the clients and we did pilot projects we found that there are a lot of architectural challenge while deploying blockchain networks and kind of trying to move those POCs and pilots to production there were issues cropping up regarding security, scalability and also performance also back in those times when we looked at the community and how things were we found that there were no established standards or best practices to how to kind of deploy a blockchain network also most of the people that time they were working and they were working in mostly technology silos there were a lot of vendor lock-ins that were there if you kind of try to kind of use some of the managed services also we found that it's really expensive and hard to build a blockchain network and then try to scale it to production so all of these led to the mainstream adoption of blockchain we kind of thought of a solution which would kind of be a bridge to production so with that we came up with what we call bevel now I mean it was kind of open source with blockchain automation framework I'm not able to move the slide yeah I'm able to do it now yeah so as I was saying the blockchain automation framework is a framework which allows you to rapidly and consistently deploy production ready blockchain networks so the term consistently is something which is very important and then core of bevel currently kind of bevel supports deployment of six different blockchain networks for hyper ledger fabric hyper ledger indie hyper ledger besu corum, corda enterprise and corda open source are the six platforms that bevel currently support and all of these are kind of deployed in a consistent way when I say consistent it means the underlying process of deploying these different DLT networks might be different but through bevel all of these process can be streamlined and kind of be done in a standard or a consistent way in a very nutshell the image what you see here kind of depicts how bevel works from a developer or a operator perspective someone just needs to kind of fill in a single configuration so this single configuration includes let's say your DLT platform of choice and its various details for example the DLT platform might have different consensus mechanism so it allows you to configure all of these through a single configuration file and it also allows you to kind of various consortium level details for example it can have multiple organization associated to it and all of these different organizations can be deployed across multiple infrastructure and all of these I mean the whole infrastructure is kind of abstracted and made cloud acoustic through the use of Kubernetes we'll talk a bit about this in details in the later slides but the idea is to kind of use a consistent means to deploy the network and that too in a cloud agonistic way when we open sourced the product we decided on some of the guiding principles that would kind of make the blockchain or related deployment and then set some kind of standard so these are something that you see on the slides one of the core thing to the architecture of how bevel is designed is the DLT reference architecture we have a slide just to kind of briefly talk about that most of the tools that we use are infrastructure independent the design is modular most of the things that we use are pluggable and can be configured one of the core aspects as I was talking about bevel is kind of designed for security and scalability security is one of the key aspects and that's how it it's one of the guiding principles in the design itself all of the components are open sourced and some of the key benefits that you might get is kind of it brings in the scalability and excitability we have a lot of feedbacks from a lot of projects that have used bevel in production is that it has reduced their deployment time by more than 80% with that I'll just move to the next slide these are some of the core automation components that bevel use Ansible is the primary tool that allows to kind of apply the automation I would say so it's the it's the playbooks and tasks that kind of breaks down the single configuration into multiple configuration that allows you to kind of have those those blockchain related nodes stuff on the Kubernetes cluster the HashiCorp vault is used for the crypto storage and any kind of credential storage that kind of makes it I mean makes the user operator kind of free from caring about security or kind of saving their crypto materials or any other those kind of hassles are kind of reduced by that it also prevents you from storing anything locally the Helm is a package manager for Kubernetes so we use Helm to kind of do the actual deployment on Kubernetes the GitOps is used for kind of for the inbuilt CI CD so how bevel works is that when I say the single configuration file that is used so that single configuration file is broken down by Ansible and those kind of are basically the state of the cluster itself so how the blockchain whole blockchain network would look like kind of is stored in your Git repository so it can be any repository which which supports Git and those Git repositories kind of stores the whole state in a declarative way rather than in a procedural way and GitOps is the process which allows you to kind of continuously deploy those any changes that would be required on the network itself right I'll move to the next one this slide might look little heavy but do not worry with this you can see there are a lot of places that you can work on to contribute so this is the whole suite of things that blockchain as a framework provides and as I was talking about one of the core principles of the DLT reference architecture so this is kind of in line to that so bevel kind of have different capabilities here from the security service aspects to the DevOps service aspects to different presentation layers integration layers and also the DLT platform layer as well as the infrastructure layer so if I can just kind of touch some of those points here in terms of the security and key management it's taken care by HashiCorp Vault we have been working to kind of decouple that as well and see if we can integrate some of the cloud specific providers like the AKV or the AWS secret manager so a lot of interesting stuff have been we have been working on this and it would be an interesting place for someone new to kind of help us in doing those things in the DevOps service which is more of the controller side of the things there are a lot of opportunities for anyone who is a DevOps person to look into it for example we have our build-in testing done through Git actions the whole automation can be plugged in with any existing CICD pipelines or DevOps pipelines like Jenkins and then there are a lot of opportunities in other different runtime architecture environments like the presentation layer we can have a lot of monitoring and logging or dashboarding tools kind of integrated with Bevel so all of these are some of our roadmap items and we have been looking for people who are really interested and want to kind of work in those areas and we are really willing to help them out and work together on those places now let me just kind of move to the next slide this is what next in Bevel this is also I mean this is something which is very interesting and is going to be really exciting in this current next year as I was talking about the journey of Bevel we open sourced like three years back and just one year back and coincidentally this is going to be our this week is going to be our first anniversary since we kind of moved to top-level incubation project under Hyper Leisure and this year we are trying to kind of come up with Bevel version 1.0 and we can call this as a Bevel redesign we are looking to kind of we are re-looking at how our Helm charts are created we would like to kind of refactor our Helm chart so that those can be those can be used as a direct Helm repo charts and all of these chart if you start looking at our code you will see some of the dependencies are kind of coupled with Ansible so it would like to kind of refactor our Helm charts to manage those dependencies by themselves also we would be kind of redesigning our documentation to have it more deployment or mode based for example where we found that a lot of people who wanted to initially use Bevel were struggling to kind of figure out how to kind of start or basically they had different kind of requirements as Bevel kind of has a default way to do stuff in production deployments but there were requirements of people who want to do let's say a quick POC or just a pilot so we would be kind of redesigning our documentation to based on deployment mode based journeys where there would be different parts for people to let's say just deploy Bevel on a local mini-cube with knowing grace controller or something like that or there would be different parts for people who want to do a full blown production network setup one more interesting thing that we kind of plan as part of Bevel 1.0 is when we look at our Ansible which does the major of automation and when we look at our whole framework we see that there are a lot of complex Kubernetes objects that we use and currently one of the custom resources that we use is the Helm release itself and when we looked at the some of the best practices of Kubernetes we find that Kubernetes operator is a very very would be a very suitable thing that can be included in Bevel so with that the idea is to kind of have the whole blockchain or platform based logic baked into the operator or the controller itself and then that controller kind of syncs or looks up for a particular change in the CRD which is mapped to our single configuration so the single configuration kind of becomes the state of the network and whenever there is a change in the set or the state of the configuration then it kind of applies that to the Kubernetes cluster so with that I will just move to the next slide, which is call for contribution so contributing to Hyperledger Bevel is very easy all you need to do is to just come to our repo or join our discord channel you can contribute in any means you can kind of contribute by simply pointing out or suggesting enhancements you can contribute by contributing to the documentation itself personally I kind of started my contribution journey three years back when the project was open sourced I myself have learned a lot of things from by contributing in Bevel itself from DevOps to blockchain and with the new roadmap which we have for Bevel 1.0 it is a very exciting and interesting journey for us and I believe and hope that you guys will be part of this journey and help us kind of redesign Bevel with that I will just rest and thank you for giving me this opportunity to talk here on this India chapter, thanks Kamlej, thanks Arun yeah thank you Swajib is a nice presentation and I think a lot of room to contribute to the Bevel is a growing and bigger project ok so with that are we taking patience yeah so any question please you can put the questions in the chat alright thank you I will stop sharing then yeah so now I would like to invite Ramakrishna Ramakrishna is a contributed to the Hypervisor Cacti project and I think it is a very interesting project in terms of the interoperability and the hybrid blockchain concept perspective so Ramakrishna you can share this thing till then I will start the introduction so Ramakrishna is a senior researcher in IBM Blockchain India with a BTEC from IIT Kodakpur MS and PLT from USL in Computer Science, he worked for Microsoft Bank and in 2015 he is working in Blockchain Technology especially in Hypervisor and has a lot of projects and contributed to the fabric code itself and Ramakrishna presently he is the founder and leader of this Hypervisor Lab's Beaver project which is recently merged with Hypervisor Cacti to become a product of Cacti and he is the maintainer to this Hypervisor Cacti project so over to you thank you Gumblish I will stop the video so we don't have any bandwidth issues and I guess everyone can see my screen right? yeah we can see okay so as Gumblish just mentioned Hypervisor Cacti is a very new thing I mean it's the newest Hypervisor project and it's come about as a merger between an existing Hypervisor project Hypervisor Cactus and the Beaver Lab project so I'm not going to go into a deep dive on the technical aspects of Cacti which actually at this point doesn't exist we are still in the works the merging of the code bases is still under work in the works and I'll talk about that later in the presentation but yeah this is I'm going to give you an overview of interoperability and if you probably know about it and are very familiar with the motivations others may not be so I'll talk about why interoperability what exactly are the goals of an interoperability project and then I'll talk about my own journey with the last project leading on to Hypervisor Cacti and what is the applying to do okay feel free to interrupt me at any point if you have a question on chat you can do that and perhaps Kamlesh can bug me so what is interoperability it's over the past several years and this is not going to be news to the Hypervisor community because of different kinds of distributed legit technologies and the phenomenon of permission networks what you have ended up with is a fragmented blockchain ecosystem with different networks that are solving particular problems for particular clientele so you can have a network that manages just securities or bonds and you can have a network that just runs payments you can have another network that just runs trade logistics so each of these networks these are all built for the purpose of building a minimum viable ecosystem in that particular industrial area and a lot of them succeeded some of them didn't recently you heard about trade lens it's going to get shut down so trade lens was running a trade logistics network it was built as a partnership between Maersk which is the largest shipping company in the world and IBM but there are various reasons not technical reasons why some of these will or will not succeed regardless you're going to see this kind of trend continuing people are not going to all sign on to one global chain to store everything despite the vision of the original bitcoin and ethereum founders so a canonical example would be of why this is a problem you have a network that's managing bond securities another network that's managing payments if you want to trade a bond with somebody in exchange for payment you see it necessarily requires transaction of two separate networks two separate distributed ledgers a bond transfer happens in one network payment happens in a different network so how do you make this happen in a way that is safe across network boundaries so you need them to happen in an atomic manner in effect you need some sort of a virtual abstraction you need the two networks to work in concert or as one for such a transaction to happen so in a nutshell you want across network transactions or transactions that is spanning multiple networks to happen in a seamless manner that in a nutshell I would say is the goal of blockchain or DLT interoperability in this particular case it's quite simple what you want to achieve it's an atomic scene of assets across the network so that's the example here in the traditional services world you could if you want interoperability across different systems to make sure that transaction between those two systems happened in concert you would just open an API between the two systems the problem is that each system here is not a unitary entity you cannot proxy a blockchain network or a DLT network by putting one trusted party as a proxy in front of it and making it interact with outside world that would kind of feed the purpose of having a blockchain network in the first place because you'd be violating the principles of decentralization plus trust so that's one main thing the other thing is given that all of these networks are here to stay and given that you have so many different distributed technologies that have covered up niches for themselves in the market and they provide unique value propositions Ethereum provides a value proposition that you may not entirely find in fabric which provides a value proposition you may not entirely find in Ethereum and Corda provides its own kind of a value proposition the sawtooth and so many other DLTs so what we want is some way of interoperability of some solution that would be agnostic of the protocols that are used by each of these different DLTs be they fabric or Corda or Ethereum or what have you and finally we want because these networks exist to serve particular limited clientele especially the commission networks we want so that any interoperability solution does not violate the sovereignty while simultaneously providing efficiency when it comes to cross-network transactions so what are the uses that we want to put these so broadly speaking we can categorize them in three different patterns and you see these patterns recurring in all kinds of if you take any network any network pair or any DLT pair that you can map any kind of cross-network transaction to one of these three patterns what are these three patterns one is we call data transfer or data sharing is there is some data record in one network maintained by some smart contract and then there is another smart contract running on a different network but the two smart contracts on these two different networks have some kind of dependency so they both may be handling different parts of the trade ecosystem or they may be handling different parts of a financial workflow but there was a good reason for them to be in two separate networks so in real life what are we going to do as I mentioned earlier you can kind of put like a trusted third party in the middle sorry is that a question I'm hearing some noise okay okay so you have a if there is some data or some artifact or some asset that's been created in network A and network B needs to know the state of that asset in order to drive its own workflow then we need some kind of secure way which does not involve putting a trusted third party in the middle to fetch the data so data sharing is really that in a nutshell now what we want to do in addition to just fetching the data is to fetch the data along with proof proof that particular data was authentically sourced from network A and that proof should be able you need it in such a form that can be validated by all the peer nodes of network B that's where consensus comes in so you cannot just trust that data provided from a network is from that network without it going through consensus in the validating network or data sharing is about asset exchange I already talked about in the previous slide you have two assets in two different networks and the parties want to exchange them so an example is bond versus payment and this is actually a very common use case we have seen these days in the decentralized finance world finally asset transfer similar to asset exchange in that you want an asset that existing on the books in one network to be transferred to a different network it has to be burned in the first network and then recreated or in the case of tokens remitted in the second network like asset exchange this has to happen atomically it's a bit different in that it involves as a creation burning so you have to be a bit more careful even compared to asset exchange so these are we believe are the core capabilities for decentralized finance and central bank digital currency and we have seen this in cases in the past year there was a do look up the experiment that IBM conducted for the bank of France and HSBC last year and there are several reports on the web where these use cases were built and demonstrated in the context of the digital euro project so asset exchange example delivery of payment I talked about asset transfer you can have in this space of CBDC currency tokens can be transferred between wholesale and retail CBDC ledgers and finally as a data sharing example you can share asset state and readiness for trading from one ledger to another so those are just examples so I'm going to run through because I know I don't have too much time in the when we were starting to so this is a relatively new field when we were starting to explore this in about 15 years we saw patterns like what you see on the left as a solution for interoperability and system like polka dot cosmos or even the ethereum plasma at the time were advocating the solution where you have some kind of a central or settlement relay chain in the middle through which different networks or different ledgers can interoperate the drawback of this as we saw it was I mean this kind of works for open networks for permission networks you end up having to subsume your sovereignty and you have to confirm to this central relay chain the relay is not exactly a trusted third party but it kind of acts as a central intermediary which we thought was suboptimal especially for permission networks and it also reduces the privacy of all these side networks which are trying to interoperate so we thought that was a better solution to be had whereby you can have networks that are interacting directly with each other and we thought in the long run this is going to get more scalable because you have bilateral exchanges rather than exchanges through some central falcon and here these different networks can have their own structural assurances in terms of the distributed ledger technology they run, the consensus protocol that they run and that really is the cacti approach the cacti is merger of beaver and cactus they both have slightly different ways of doing this cross network interaction and others come to that but at a high level the main difference between the cacti approach and the other approaches is we assure the use of relay settlement network and instead this involves bilateral transactions so what is the state of interoperability in the hyperledger foundation currently? So under the labs we have two different projects that are connected to interoperability we have beaver which is general purpose interoperability system based on relays and then you have ue which provides an implementation of the cosmos interblocking communication protocol so these are two interoperability projects somewhat different but in some ways that can be used for interoperability purposes if if you avoid particular interoperability then you have the hyperledger cactus project for interoperability and then you have hyperledger firefly which has a tangential relation to interoperability it's you can think of it more as a middleware for multi if you avoid particular cross assumptions but from the interoperability perspective mainly it's been cactus weaver and ue and we the cactus plus weaver merge now we have the flagship hyperledger interoperability project being cacti and then you have ue which is a separate lab project so the project that I have been involved in for the past three or more years is called weaver and we open sources as a lab project and the vision was quite simple we have different networks each of them has one or more relays and drivers which act as the ingress or regress point or the gateway to any other network and you can see here the different modes that I talked about as a transfer data sharing which change you can use via network to relay to relay to network kind of communications we can build protocols for each of these and those protocols can be applied to any particular any specific use case we also envision this mechanism to allow networks or distributed networks to hook up with the centralized systems like existing ERP systems so you can have data sharing between network and ERP system as well and decentralized identity is an important part don't have time to go into this right now but especially permission networks we need some kind of trust basis for two networks to interoperate and decentralized identity offers a promising way of doing that without again introducing trusted parties as intermediaries this is the architecture of beaver what you have is for gateways you have relays which are which work completely independently of the particular DLT that they're serving so relay is not tied to fabric or corda or ethereum or what have you now the relay can you can have plugin components called drivers within relays which are DLT specific because they need to be able to understand what the relay is conveying from outside world in order to drive some transaction in the local network so the driver is a plugin to the relay which is DLT specific now an interoperational module is implemented as a smart contract on the particular network so the idea is to implement some functionality which has to go through which has to approve transactions through the native consensus logic of that network so in fabric this interoperational module is implemented as a chain code in Bezo it will be implemented as sort of solidity contracts the corda is implemented as a corda so the function is the same it is implemented in different ways for different DLTs and it does the main job of managing data proofs and asset logs and those kinds of things which we need for any cross-network transaction and then we have application SDKs for application clients to exercise any cross-network operation or to trigger cross-network actions and then the identity service for decent data identity I am going to skip this mostly for time reasons we have particular building blocks and we were involving both the relay functions as well as the contracts within the networks and this is just a list of them I have talked about this in the past by the way we have a there was a presentation I did as part of the Hyperlegic Active workshop last month which is I believe on YouTube and then there is also a presentation I did in the Hyperlegic Global Forum earlier this year so you can find that for some more details these building blocks are used can be composed to build the protocols for the main patterns that I talked about data sharing, asset transfer and asset exchanges okay so I will just briefly cover the history and before handing it back to Kamlesh so the Viva last project we started in 2019 it wasn't called Viva at the time but we were just trying to research and explore this area so we built support for data sharing and asset transfers across fabric to fabric networks and between fabric and coordinate works and in 2020 we built what became the first version of Viva we refactored the code, produced specifications and so on and of Q1 of last year we open sourced it under Hyperlegic Labs so what was going on during that time so early 2020 in the last Hyperlegic Forum before COVID the Cactus project had been inaugurated and the Cactus team as a collaboration between primarily I think Chirin Fujitsu had been working on the problem at that time we decided to go our own way but in later in 2021 we got into discussions with the Cactus team and we all determined that it would be mutually beneficial for us to consolidate our efforts into one single flagship interoperability project and that finally led to the announcement that Hyperlegic Cacti would be formed in the Global Forum in September in Dublin and just shot out to our team within IBM Research India this has been the team that has been maintaining the Viva project and we are also going to be working on with Asin Chirin Fujitsu so that's really what this slide is about we have Hyperlegic Cacti I think you have access to the slides do read this blog post which introduces the Cacti project and we are going to be working with IBM, Asin Chirin Fujitsu we are already working with them and we have also been working with various academic researchers on the general problems of interoperability the merging Viva Cactus now is somewhat not a technically easy thing to solve there are similarities between the goals of both the projects but there are also big differences between how the two projects are engineered so this is what it's a summary of how we will merge Viva Cactus I'll just go to the the goals are we want to cover all the different interoperability modes or use cases and rather than try to just integrate everything into common components we will offer a selection of different protocol units based on different trust models so there are slightly different trust models if you use cactus compared to Viva and different levels of ease of use of the two systems so in the integrated system in Cacti we will offer different options to the users we may use one or the other depending on their use case I see somebody raised their hand you have a question Wilson I can't hear anybody can you ask the question or maybe you can type the question okay maybe I'll then turn to it after I finish I'll just take a couple moments so what does the merge framework look like now we have I already mentioned the cactus and the relay so what we have in cactus you have connectors and node servers and we can we will offer them separately actually I'll just come to the next slide so if you see I showed you the Viva vision of different networks that are connected by relays and then you can have protocols for data sharing asset transfer, asset exchange we have a somewhat more centralized way of doing this you have a node server which can issue transactions to different networks and that scenario works and into which you can plug in the business logic governing cross-network transactions so in the integrated framework what we're going to have is we're going to offer both options if you want to do asset transfers using decentralized pairs of free rays you can do that or if you want to do it via a centralized node server you can do that as well and the same goes for the other kinds of protocols so this is the vision of both Viva and cactus extrapolated and consolidated into the cactus vision you can see the two different architecture diagrams this is a high level diagram of the cactus architecture on the left and this is Viva which I already talked about earlier so the idea is we will have the relays and the node servers provided as options for communication we'll have the in Viva we have the drivers, in cactus we have the protocol adapters those are going to be eventually merged into common components because they serve the same purpose and then you have the SDK in Viva and what's called API client within cactus which also serves the same purpose and we're going to eventually consolidate them into one some other services we have separately in Viva and we will see how to integrate them within the project this is how you see as an example of a cross network interaction you have Fabric and then you have Bezu and then you can have what we call connectors layered over these networks which are built using the SDKs of the respective systems so on Fabric you're going to have connectors that are built on the Fabric SDK in Bezu over Bezu you'll have connector built on the typically the Truffle or Web3js APIs and your business logic that's your application is going to either work through the cacti node server or through the cacti relays in order to do any kind of data transfer or as a transfer across networks I'll close with that and I have some supplementary slides in case people want some more details so by the way just to take this into the future so at this point we don't have a consolidated code base for cacti because hello? I don't understand this can you explain it again please understand which part all of it okay you'll have to be more specific Wilson are you asking or who is there I think I can't see who is speaking I think everyone is mute I don't know he asked a question and he said he couldn't understand anything so I was trying to figure out exactly what specifically I could have this so we request everyone to be please muted while the presentation and we'll open up for Q&A in some time thanks for understanding yeah so I think no question okay so just to give you like where this going in the future so we have at this point we don't have an integrated code base because both the cactus and the view of projects had particular tasks in the pipeline that we wanted to complete and we needed to freeze them and we had a couple of hyperledger summer intern working on some features which are close to getting done so we will try to see we'll try to get an integrated cacti code base before the holidays but it may be tough because the we need help from the hyperledger staff and they may not be around during the holidays but definitely by early January we will have a code base so yeah for now you can look at the both the cactus and the view of projects separately and once in the new year we had cacti we solicit all contributions and suggestions from the community thank you yeah I think so let me remove a key so okay thanks so by the way if you don't already know Rama so he is from IBM Research and congratulations again for getting elected into TOC this year and looking forward to working with you through the year and it's great to see people from this region participating in these forums so again congratulations thank you looking forward to working with you too thanks Arun can I remove Julian for something maybe pretending to be him there are questions someone put the comment in a very nasty comment that's not me right so I think there's a few imposters we have on the line right whoever Ben is I don't need to link those people right so we can you take care of that yeah I will do that everyone to perform behave well in the community so as you all understand all Hyperledger meetings are following the Linux Foundation guidelines so we request everyone to follow community guidelines so give respect and be respected in the community so yeah so so we do have our sessions to continue with our sessions so just a note like now we are all in office in person here in Exotort so I know that there are people I could see in HCL as well like Noida and I'm sure there are people in KBA at Tirunantapuram at IIT MK so over here at least we have snacks and some refreshments available for Exotort people who are based in Exotort so we can yeah same here we will also be taking a break to break for some tea before that there are a few questions as well from the room for Rama I suppose for Rama yeah so for Rama there are a few questions from the room sure we can take questions and then we can do that okay so Rama you that I am okay please introduce yourself yeah I am Swit from working with the day sale with the strategy department it's under the Ministry of Information and Broadcasting okay hi yeah I am actually asking about the means you are talking about the transferring of means data from the one centralized to one centralized okay because you are making the decentralization to the centralization some kind of the thing hello hello so our primary focus was on communicating data between two decentralized networks but we think the same mechanism can translate to centralize to decentralize to decentralize or decentralize as well because the way we have the data requested and consumed across two BLT networks we can break it into two parts one is the network that is requesting the data and validating the data we have particular mechanisms there and then you have a network that is supplying the data your particular mechanism is there so if the other end happens to be a centralized system all you have to do is the you have to do the part your part and how the centralized system consumes the data or how it supplies the data is okay yeah I am the previous one yeah thank you thank you can we ask any questions reach out to me on email or discord or whatever thanks Rama no more questions from HCL office thanks I will drop off then thanks thank you Rama for joining thanks Amish so up next we will continue with our presentations and for next session we do have presenters parallel presenting across different regions including the for the virtual presentations that are going to happen so all these sessions will be recorded and will be posted on youtube later for viewing purpose so we will request you to continue and Vikram and the Kerala blockchain KBA I think the next set of sessions will be the local events that you want to proceed from here and come next will be the idea would be to create three breakout rooms one virtual four breakout rooms basically one for Bangalore one for Naita similarly for Trivendram and also for virtual so I think we need to create four rooms and anyone can switch between them that would be the best way to go about it and the second part would be here in Naita location we will be taking 10-15 minutes break for tea and then we will rejoin so that is from this location yeah okay but virtually we can start but I think before I create the virtual room I will just do four right four virtual rooms yes we need to create four and include course to breakout rooms assign manually to them I will let participants choose room okay so I created four rooms so I just need to rename right so Bangalore this is SCL KBA so yeah I created these four rooms with Bangalore, SCL, Noda, KBA, Kaila and virtual maybe you should go live or is it created I think it's created actually yeah but I need to go to a good course message is there I mean people can join now I need to assign manually actually it's up to them to join or you can assign as well so I suppose please assign at SCL to Noda room or probably let me go there and come back to go to I hope you got one or two interlopers right yeah I think easy said it doesn't matter okay people joining the virtual I think people joining so I don't see an option over here to switch oh okay no I think people are moving to different rooms I believe Kamlesh can you maybe just talk how people can navigate through okay so everyone I think on your zoom screen there is an option that you can see which allows you to join different breakout rooms so if you go to zoom at the bottom I think if you don't see it on main screen click on more there are three dots and over there you can click breakout rooms and in the breakout room you should be able to see who are all part of which breakout room right and then you could join the location that the different sessions that you want to attend so there will be virtual presentation and there will be the in person presentation happening across three different locations so I have this information was helpful yeah while you are in the group feel free to say hi to people in the group and introduce yourself on the chat still I can see around 28-24 people not join any room so virtual will be on this main screen only or is it a different is a different room got it even Vikram you also not joined your yeah so so I think we have around 40 minutes so if anybody want to discuss something want to introduce talk to each other so that we can do break for the lunch so at 2pm we have one final discussion talking about the emerging teams in blockchain to like to be DC tokenization metaverse and all this stuff just go to know I think you don't have access to communicate just change so now I think I am given access to anybody can unmute in the talk can you try can you yeah it's working now yeah a lot of hecklers in these meetings if you don't stop them it was pretty interesting like I found extension pretty interesting like having problems developing jn code so what I was doing I was first developing it on Node.js and then like re-implementing the whole thing into the jn code that was like easier for my workflow but now doing this this would like change some things you like having this session from us what is really good how to develop this in code couldn't hear you can you speak again I am saying this this session from Ashwar about the jn code debugging that is really nice and even he is making that tool as an open source in the hyperlegal labs okay so when is it when is the lecture I think it was there in a virtual breakout rooms okay you didn't join the virtual session like here I joined in the starting but I was looking at Kerala blockchain association they were doing some things with hyperlegal nd so I was also working in some of the things in nd so I was interested in that so I think this particular session I talking about this in code debugging that was in virtual yeah I looked at I looked at that too but I was not able to totally go through I looked at it in the end when he was showing up the configuration of the hyperlegal debugger extension but it was quite interesting like I didn't know that people are doing this kind of fast development in code extension and it's quite interesting so anybody is new with Sambed Kumar Arjun I think many people are new can you introduce or maybe share what you are doing maybe I can go yeah sure so I'm completely new to this technology and talking about what I work on I'm a data analyst in one of the pharmaceutical company and as a team we are trying to enhance our skill set with the new technology and we thought blockchain is revolutionary in terms of what it is trying to offer so as a team we are just learning from different kind of courses and through different live streams blockchain and we are just doing our own research where we could implement this in our use cases yeah thank you may I yeah yeah yeah so my name is Vimal and I am from Ahmedabad and currently I am working as a dotnet solution architect in one of the Ahmedabad company I have completed few months back when I am a blockchain course provided by I am a so I did the blockchain course but I did not get any real time opportunity to work on this so I'm looking for that if I can get any real time opportunity to work on blockchain or hyper ledger yeah yeah hi Kamilis, hi everyone I am Sandeep I am from Bangalore I am working as a automation lead at the public sector in Bangalore and with very much interest and curiosity I have learnt blockchain from IIT Kanpur under professor Sandeep Sukhla so currently I am exploring opportunities in Bangalore blockchain and learning more and more in tech exploring so even professor Sandeep Sukhla joining us at 2PM will be virtual session Kamilis yeah virtual session so he will be sharing the same link at 2PM with one panel discussion okay okay good to see so Kamilis the thing is actually I missed out the first really first off of the session which was conducted by Azwaj on the breakout room I was on the youtube live and watching it even I have been doing it in chat so I missed the session so will I get the recording of this as per session yes I think it is already recorded so I have recorded it so it will be uploaded on hyper ledger youtube channel okay okay yeah thank you Kamilis yeah thank you hi Kamilis I am from Hyderabad I work for a company called DP World it is primarily a logistics company we work for internal blockchain team for enabling secure data sharing among some government entities within Dubai I mean we are currently running a proof of concept there so we just came here we also do that in hyper ledger fabric so we use hyper ledger fabric a lot internally so we wanted to see what else we can learn from the conference what what people are doing here yeah thank you welcome hi Kamilis show me I am working with Jai Krishna only we are in the same team okay I am with Kumbar yeah I think I have spoken right okay sorry sorry so where is from joint was that for me Kamilis there is another person joined Samuel so two key things are very interesting panel discussion where there is Dr. Sandeep Akamayati Kanpur then the Prashant Nallohar Yorvan Block of State so mostly good people joining Kamilis I had one question yeah maybe I like stupid question because since I am a beginner what would be the programming language it has a lot of free support from the community and to get started into the fabric it is a development perspective so I think what are the traditional with node.js all is supported so any developer who are already using this could become a hyperlegia service developer and the the tools are the same I think technology perspective you just need to learn what is the blockchain and how it could apply and the tech perspective programming all is same okay and also it doesn't matter what OS we are developing in right yeah so OS I think that is the fabric generally some kind of Docker containers so at the water with the machine where Docker could run it is supported okay so even there is a proper document to run on the windows okay and to running in the container okay yeah thanks for your input Kamlesh Kamlesh I have multiple questions can I go ahead yeah you can go ahead we have time okay so as I see can like there are a couple of topics which are pipeline in the session right so we will be discussing about the metaverse at 2pm right so I mean curious to know like whether hyperlegia public will be supportive for developing metaverse or is it only the Ethereum which is public blockchain which is going to work nothing like even I see many I have two companies who are using hyperlegia based projects to build a metaverse so metaverse is some kind of virtual word right but inside the your tokenization some kind of tech payment mechanism or some kind of digital differences so all could be whether you want to run on a Ethereum hyperlegia not an issue at all okay so my second question will be like will hyperlegia public I am mostly aware of like you know hyperlegia public is mostly used in the supply chain domain right so is it possible I mean will hyperlegia public overcome with other domain such as beyond supply chain so hyperlegia not beyond supply chain if you go and use the research so like for example go to the CBDC project so more than 50% projects are using the hyperlegia fabric or you can go to the any digital R&D financial services so fabric is used is not the only for supply chain okay okay so hi from Bangalore location so can you hear us yeah so we can close the so yeah so bangalore location is taking a break now and we will be joining back in about so we will have this do follow up and we will join back in some time we are taking a small break yeah so Kamlesh we have broken for lunch over here yeah so what time are we starting final discussion I think 2pm right we will have to delay a bit because people have just started you know going for lunch so can we do it 15 minutes late so I think when people start joining then we can plan accordingly so we will because how we will communicate to all the people so let them join anyway we will take some time to join right Vikram lets try for 30 minutes and we will join back okay okay we will try for that thanks okay Arun you called me sorry Kamlesh you just called right I didn't get you I think you just called me oh right right right this is for the virtual session I think we need to get all the virtual rooms people back and we can have a networking going on in this main room while we take the break yeah yeah I already closed all the rooms Vikram I have to close sorry I don't have to close this virtual room I am not going to close it can I Vikram this people in virtual room how I can bring them to main room I need to leave the room just leave the room but like suppose I have deleted other room but I am not able to delete this particular room I think you need to get the host room so should I delete all the rooms already deleted actually no no they are there Bangalore is also there let me delete it then Kerala is also there yep all deleted now virtual is also a room let me delete that one yep now all are deleted now there are no breakout rooms I will be back soon so if there is no presentation shall I put up do you want a break yes we can add this message we are in break okay let me do that then I think we can stop the recording right but I think we are doing youtube live right I think that's alright so youtube live is good let me put it down have lunch if you want lunch have lunch message please there is more I am editing we can edit that I think the whole thing is it is very useful I like it the way I watch content people in every possible there is only one that I go through on TV We can also hear many. We can also hear many. We can hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. We can also hear many. So if you want to say a couple of words and then I'll introduce the other panelists. Thank you for inviting me to the panel and thank you for the introduction. I'm running the National Blockchain Project funded by the National Cyber Security Coordination Office since 2018 and we have developed a number of solutions which are actually deployed like the land registry on blockchain in Karnataka, an investment solution in Karnataka. We also have a self-subring identity blockchain which is used for giving credentials, very valuable credentials and mostly it currently is being used for providing degrees of IIT Kanpur, IIT Indore, Igno, EKTU and yesterday the National Police Academy and RRI. So we have been using Hyperledger through and through. So I'm a Hyperledger person. That's it. Yes, thank you, Professor Sandeep. So next we have with us, Nareesh Jain, he is co-founder at Snapper Future Tag with more than three decades of industry experience, with more than two years of management in IT consulting. So Nareesh is also a proud entrepreneur and investor in blockchain technology and he has multi-domain expertise and various accolades and specifications to his name. So welcome Nareesh, couple of words from you. Thank you Vikram and thank you for inviting me for this as a panelist. I'll be glad to share my knowledge I have gathered in the last five and a half years. So currently as a company we are really doing a lot of innovative work. We are a Hyperledger certified service provider. And as such we are working on multiple blocking framework, but it's all across industry, different kind of use cases and products and training, all of that. Thank you. Yes, welcome Nareesh. And then next we have with us Prasanna Loha. So he is CEO at Blockstack and is practicing blockchain research, digital transformation and innovation implementation. So he has a vision to make India a hub for blockchain and Web 3.0. He is also director at association of emerging technologies in India and previously he was also CIO for DCB Bank. Welcome Prasanna to the conversation. Couple of words from you. Thank you Vikram and great to be here among all the mentors for blockchain, Nareesh, Sandiv sir, Deepak, so let's move forward how this discussion is going to help all of our friends who are listening us. So thank you so much Hyperledger India for inviting me and all of our colleagues out here. So as you already introduced, thank you once again and I look forward for engaging this discussion with all of our investors. Yes, welcome Prasanna. Next we have fourth panelist, last but not the least. So Deepak Ghadge, so he is co-founder at Stealth Blockstack startup and co-founder at master mentors advisory, you know, private limited a blockchain consulting and developing company in partnership with Natsop. He comes with 25 years of experience across industries. His passion for blockchain and its potential to change the business environment led him to, you know, blockchain ecosystem and let him introduce himself and you know, on the points that I might have missed. Thanks Vikram. Thanks for inviting for this panel discussion. It's a great opportunity. I've been working on and discussing a lot of used cases along with my mentor and panelist Prasanna Lohar. We've been sharing a lot of knowledge across platforms across the use cases. And this is a fantastic platform to discuss the used cases where we are talking about CBT C5-3 and Metaverse. As these are growing technologies and these are going to shape the business models and enterprise to scale up. It is also putting Indiana differently of players on the global ecosystem, especially the CBT C initiative where the government has started with RBI has already started the pilot. I think we are going to see an incredible growth in terms of CBT C implementation as well as G20 Presidency where we are currently hosting the G20 people who are based of Indiana. And there are some good news which are coming through hopefully by the end of this presidency we will achieve a lot. And thanks a lot for that. Yes, welcome Deepak. And so, you know, in trust of IML, I would get started with our discussion. So the theme for today is emerging themes in blockchain, ESG, tokenization and Metaverse. So to start with ESG, so I see that many of the industry leaders and everyone is talking about ESG. And so I'm observing the blockchain happening in business. So sustainability has become a center point or a center focus for everyone. And I think in coming years we are going to see a lot when it comes to sustainability. So it is actually a good thing in that the focus is coming over there. So I want to hear your views, Professor Sandeep, that how do you believe that ESG is going to, the focus on ESG is going to build us for the future? And how blockchain can help us? Yeah, so sustainability and environment is becoming more important every day because of global warming and population explosion and so on. And there are certain things that various governments are bringing on. For example, Carbon Credit, they're talking about water saving. They're talking about various kinds of credits for doing sustainable practices and environmental friendly industrial practices. So a few months ago I was talking to a company that does sensors for water systems in the industry. And they have IoT based sensors through which they actually meter the amount of water they actually use and save. And they actually were talking about using those IOTs to actually create a credit system for water saving practices over a blockchain. The reason why they wanted to use blockchain is because right now it's currently it is self-reporting system. Now the self-reporting system may or may not be you know, trustworthy. And therefore if the IoT devices can directly put the data on the blockchain and that data can be actually then used for analytics, then one can actually, the government as well as public in general can actually have a view on how the water sustainable practices of water usage, especially industries that are very intensive in water usage can do that. Similarly, I know a number of companies that are using Carbon Credit system on blockchain. So I see that there is a movement for this environmental and sustainability practices to be transparent to common people and the government. So that the regulations are complied with as well as the reputation of the organizations can be actually put out to public in a very trustworthy manner. So I think there is a lot of scope of blockchain in this space. And there are a lot of movement in that direction and I think more movements will come. So I think this is one of the good practices of blockchain that I particularly feel very good about. Yes. So I couldn't agree more on that self-reporting will continue to pose challenges and IoT based reporting is important. And use of blockchain for transparency is also very important at least in my view. And if I leave the continent of Antarctica, I think in rest all of the continents, I've been having conversations with customers working on sustainability and ESG methods. So what are your thoughts when it narrates that we look at IoT and blockchain or IoT or blockchain is also an option? All right. First of all, let me start by saying IoT and blockchain definitely both are going to play a big role. No doubt about that. And there because the major challenge what we are facing today, we are going to face because it just started. We are targeting 2050 for net zero carbon. For that for decades, for centuries, in fact, in India, we have been collecting waste. And that process of recycling, it's already there. In global level, that process recently started. So major challenge, what we are facing today is that we are not able to track. So whatever recycling we are doing, even though we are producing less carbon and we are saving it, we are not able to produce a showcase. So for that, it becomes very, very important that how do we prove that what has been recycled or how much carbon saving we have done. And for that, of course, one of the ways using sensors when we are doing waste management like waste collection, when we do at different places from where we have collected, how much work on a waste and how different companies are different companies or different people are managing that. So complete traceability. That is where the biggest gap is as on today that without having a proper traceability it will become a problem to prove to the world that we are becoming carbon neutral. And for that blockchain plays a big role and will play a big role. For example, if I talk about say plastic recycling or battery recycling or e-waste. Over there, currently, EPR certificates are produced. Extended producer responsible EPR certificate are produced mainly by the recyclers. And a lot of frauds happen because the whole market first of all, it's informal sector. Over there, it's a lot of manual paperwork and compliances are heavy. Because of that, there are challenges. And if we are able to bring a solution or system where we can do starting from waste collection till creating a EPR certificate and complete traceability of that. And even after that when we do recycling whatever products we are manufacturing out of that or the consumer or the end customer should be able to trace back saying that what kind of products has been waste has been recycling that from where it has come. From compliance point of view, traceability point of view bringing in everybody in the formal sector and ultimately reducing frauds. That is the need of the hour and blockchain can play a big role in that. Yes, some excellent views and especially you talked about traceability and compliance. So if I talk about standardization because if I look at ESG scores there are so many different standards of how you report data and what you report that data into how do you calculate your ESG score? That has also been one of the things that people have been talking about that there is no standardization across. Different entities or different organizations are reporting using different schema or different method of calculation. So my question to you Prasanna is how do you believe that we should be working towards it that with so many different standards accepted across different geographies or places? You are on mute Prasanna. I am audible. Yes. I think it is a very good question and nothing works without right standards. It all results and aspiration towards much more innovative innovations. Imagine we have very good standards around security, we have very good standards around data transformation on the internet. Likewise ESG is a global agenda now. It has not remained a particular organization relevant agenda where governments are involved public bodies are involved and the whole aspiration today is not with that intent. But by the time we reach 2025 or 2030 the need of meeting SDG guidelines as well as ESG pointers is going to be very critical and important. Today there are some business models where countries and events and various government associations even G20 it was being discussed are driving it. And there are a lot of tech companies and startups are coming with some kind of innovation started by bodies of industries example in Maharashtra we had this water resource group who has come up with some guidelines for all the hotel industry to use the recycle water. Now although this guideline is there how do you really go and measure and calibrate whether the particular hotel is utilizing the recycle water in the major capacity at 10 o'clock today. So how do you bring on that stuff where technology can come to play where Narik spoke about how do you have an accuracy of data capturing and actual accuracy reporting out there to the government so that the government whenever want to audit and see against the particular ESG guidelines whether the things are really going ahead adequately or not. I think those kind of stuff where we can really practice it now but as far as the standards and the process are concerned I think it is a long way there has to be a lot of effort has to be taken in that context and certainly as of now much things are being explored there are a lot of exchanges are coming like carbon credit exchanges and so on but as a standard I think we have to really work closely with all the other governments and I think this should become a right agenda ahead of adoption of many other areas so I think in a nutshell we have to reach to that the milestone but a lot of huge efforts are being taken by governments relevant corporates and startups or tech companies also participating what we have seen two years before and today many corporates are now coming and imparting a lot of contribution to the ESG implementation so I think we need to part of this and create a right set of standards and processes so that it becomes win-win situation rather than ultimate guideline for a corporates to have this whole particular practice the way we have various departments so now as of now this responsibility is being taken care either by some of the CSR groups within a corporates or marketing guys to bring on but I think ESG becomes agenda for every corporates in a nutshell every government out there state or central standardization now within India there are some standards there are some bodies who are coming up with some kind of standards but the way we have a global standard is we have to reach that junction but I think it is a continued journey we need to at least put more investment more innovation more research around these areas to bring what is that needed for the next steps yes so we lost your video for some time but yes you were audible so essentially if I gather your thoughts so you are saying that there has to be a structure put in place with different government bodies I suppose there could also be there would also be some role of has been some role of how people have been investors have been talking about investing into the business is sustainable and not just sustainable sustainable eco friendly for ecosystem as well so with that in mind Deepak my question to you would be that do you believe it has to be a global effort or when it comes to carbon emissions tracking or something at the level of United Nations or something like that the regional efforts to bring up those standards and do that tracking and what would be the role of individuals or investors into it today good question the impact on climate and the impact on soaring temperatures today morning itself I posted on LinkedIn Mumbai was never 35 degrees in Venice this is an impact of climate change probably one of the reasons and every other cities around 20-22 degrees Mumbai last week it's soaring around 34 to 37 degrees which is not quite obvious which is deviation actually and this is a global problem and it has to be addressed at a global level where Prasanna also spoke about the standardization where it will eventually evolve but at a regional level you do not have to wait for things to happen at a global level today we are talking about G20 presidency we are talking about debt cryptocurrency and climate as one of the hot topics where the G20 people are discussing to close this come to a conclusion by end of this 2023 and there as a country if you want to take a position or a leader as a presidency you need to have a full proof system to eradicate or reduce the carbon emission of the waste management product see in the western world probably I think Sweden or Norway where they have specific areas where you can put your e-waste where you can dump your e-waste it will go directly to the e-waste collector so if you are keeping any loopholes in the system then you will always allow things to crop up and then it will create a new problem rather like if I have to dispose my mobile or a laptop or something I need to have a full proof mechanism that my laptop or mobile has been sent to a registered e-waste company either it is refurbished or it is made carbon neutral for industries also it has to be tracked at such a level where the auditor the regulator the auditor and the owners of the carbon emitter they need to know what is happening at that level and till we bring a full proof system or we innovate a full proof system and bring our own standards for each industry because each industry has its own emission limits and it has got its own processes as well so we need to define that and then bring standards for each industry and start with where we have quick wins so that we can replicate this and scale it up to other industries yeah so the views I think we are all in consensus so we are willing to blockchain in some way and I suppose we all reached a consensus that steps are being taken but more needs to be done and structure needs to be put in place and traceability and compliance should be there IOT should be there so that we are not relying on whatever someone self reports and we only trust the technology more into technology than into technology alone will not help victims there has to be huge penalties so otherwise people will not adhere to the the compliances see today we have we break rules on the road most of us do it by knowing or unknowingly but there is no heavy penalty the moment you put penalty everything will get normalized yes sir let me add one example as Deepak is talking about penalty in India currently every year battery manufacturers or the companies who are dealing battery they are paying a penalty of more than $6 million every year as on today that is just a penalty cost because they are not compliant or some kind of issues are there and that is happening why that is happening it's only because they are not able to track the whole thing so there is a big gap in terms of where the battery has come and how it has been recycled and what kind of process has been followed so till the time we don't have such kind of solutions and in fact the process has already started we as a company also are involved in that we are working on that solution but it requires a big push from the government also not only you have to be compliant and putting a penalty in place supporting companies in creating or developing solutions to fulfill that requirement that is what is very very important feeling also just adding one more point today where people are becoming directors or independent directors or start-ups on company boards there is also certification on ESG so while people are identifying the boards are independent directors they should have somebody a qualified independent director or director with an ESG certification so that they can guide them on this ESG standards and how to follow these compliances and processes yep so some excellent thoughts so I think we can spend a good amount of time on this topic and there would be so many inputs that I think we all have but I'll try to move on to the next topic that we have is tokenization and when I say tokenization all the lights all the bulbs start blowing because of the NFTs so most people are relating tokenization with NFTs because that's how it has been commercialized that one part is there many of them are buying NFTs for the sake of buying it but yes so it does give us good rapport blockchain it criminalizes people with blockchain but it does set some expectations as well and when something goes wrong with crypto blockchain also takes the blame as well right so I want with that my question to you is that we have UPI we have digital rupee so how do you believe that digital rupee will add value and what is the role that blockchain is going to play in CB in central bank digital currency right yeah so first of all UPI is a payment method and CBDC is a currency right so there is a difference so also in UPI you have to have settlement you have to go through your center bank you have to settle whereas in CBDC the settlement is real time and without the intermediary so CBDC is kind of a tokenization of the money which is cryptographically secured and which can be transferred from wallet to wallet without an intermediary like cash and therefore and also CBDC CBDC has these other advantages for example the CBDC being a token a smart contract can actually be used to program it it can be used for welfare by actually making sure that the CBDC push to the wallet to welfare would be only usable for food and clothing and things like that and not for anything liquor for example you can actually also use monetary policy for CBDC for example you can decide to give interest on CBDC stored in wallets if you want to control some put some monetary livers you can also expire the money like if that situation arises in terms of this thing also CBDC hopefully will be actually provide anonymity to the extent that the laws in India or the country of jurisdiction allows anonymous transactions of cash for example but beyond a certain limit cash is also cannot be legally anonymously transferred so same thing would happen to CBDC but the anonymity would be built in through technology and through legal backings so UPI cannot be anonymous for example UPI is leaving too many digital trails UPI cannot be programmed or so UPI is basically a payment method but you are paying by your bank money whereas CBDC is a central bank money that is provided to you by we are a bank but it is redeemable by the fiat of the central bank so it's a very different system so exactly I think it can't be put better and explained so simply and elegantly so what are your views on the wallets, would people need to use wallets for leveraging the central bank digital currency wallets of course are required the wallets have to have some venting features because CBDC another aspect that CBDC has to have is that I should be able to pay offline that is if in India for example there are a lot of internet denied environment therefore there are requirements for offline payments it may be within a limit because there is always a risk with offline payment although most probably the wallet has to bootstrap on the TEE or trusted execution environment in the phones which has some risk probably low risk but there is a risk for TEEs to be hacked but the offline payment would be very important and therefore wallets are required designing these wallets to be secure and proof and secure from tampering and secure from creation of fake currency etc are going to be very important but wallets will be required yes okay so my question to Naresh then inclusivity is quite important when it comes to central bank digital currency especially when more than 100 countries are right now including India so what are your thoughts of inclusivity and how CBDC promotes it yeah so as Sandeep just mentioned in the last there is one option which is going to be available that we can do a CBDC or we can use CBDC or digital rupee even without internet in offline mode what it means that is going to be a fundamental for inclusivity of going to far faster places all over over India where each and every user would be able to use a wallet and do a projection using his mobile of course be a 5G which is which has come up now it goes all over the places that is going to definitely add a lot of value because that's what is needed for the overall thing but this is going to simplify things over here people who are living in far places they don't have to really go to the bank and they don't have to really go through a complicated process of opening the account and all that just a simple wallet your cash wallet which is in your pocket it's going to work exactly like that it is as simple as that once you have money in your wallet you keep on using it you keep on getting you keep on transferring it and that is going to help for inclusivity okay one point I wanted to quickly is that there is a cash here that for a wallet to be able to be allowed to do offline transfer it has to be mobile has to have a trusted execution environment and in India there are people who are still using android 3 and android 4 phones so there is a possibility that there would be a lot of people who would not have a trusted execution environment in a burnt phone which case the inclusivity will not work so we have to figure out how to solve that problem yes you are right there are going to be a lot of challenges yes you are right yes so infrastructure that means infrastructure and how easy it is for people to acquire that infrastructure is important so my question over to Prasanna is do you believe there are certain steps that needs to be taken in that regard to make that digital currencies available and should there be a mechanism to actually interoperate right so interoperability is another big thing right so I will just introduce it so should there be a way to interoperate and have your crypto assets and your central bank digital currency managed in a single interface you are on mute for some reason Prasanna we can't hear you okay am I audible now yes you are yeah so I think what I was saying I think it's a very good question you have spoke about but I think there are lots of things are going to happen as far as a journey of CBDC Samsung I think it is just the beginning of something big which is going to all of us CBDC is a currency and it's a digital currency it speaks a lot about difference between UPI and CBDC Sandeep sir has mentioned it very well as far as infrastructure is concerned imagine UPI took to build at least 6 to 7 years since we had a very good railroad built by NPCS so called IMPS already and on top of that we started building UPI and to begin with it was part of RBI's business and actual building started in 2015 and we launched in 11 it took really use cases on UPI with the phone pay, Google pay and coming into they are giving a lot of action for this concern and the overall infrastructure typically it has a wallet followed by it has to have some centralized ledger system which is already many countries but in between how we have to create decentralization or how we should have a better security aspect and you spoke a lot about how interoperability we bring on so I think there are four steps to build any CBDC how well versed monetary policies which we have so typically India like a country we are very strong at monetary policies so the challenges which face by any some countries on monetary policy we will not suffer but then next level whether it is decentralization or centralization so moreover the decision is already taken or we could see that it will be a decentralized mechanism backed by some enterprise that's what we look at it and the way how other countries like China or Cambodia have taken a leap with some of those well known blockchain platforms so similarly we will also build on the story for us but although our aspirations will be different our population the adoption curve which we are looking at not for only payment because UPI and the relevant railroads are only for payment but CBDC today it will go beyond RBI where we will see how insurance and wealth also will interact the scalability is going to be very very important aspect around at the end of the day because CBDC is not only for user experience on the wallet side which is being already solved with the help of UPI candor ecosystem on smart phones but when you talk about offline on feature phones or some momentum where we I think Deepak just spoke about financial inclusion it's a global financial inclusion agenda so how my CBDC should talk with some other CBDC of other country so can we not have some interoperable standards which is going to be very very important where BIS comes into picture banking international settlement or notifications or guidelines by IMF keeps on talking if you are creating CBDC at the country level always talk to some other country on a monetary standards as well as the technological standards so I think there are a lot of ways wherein we could see some experiments like the Cambridge or project where countries like Sweden Switzerland or Singapore are taking part and doing that kind of research around this but typically today even if you talk about adoption of CBDC in a prominent country some 10-12 countries are live so it is not more than 2-3% or even you talk about Cambodia adoption is as the download has done it for 50% of population but it to do for an actual adoption so it is appeal for RBI also when they are talking about CBDC in the form of RBI's concept note it should cover more of an adoption cover so apart from the learnings which we will see in retail CBDC or wholesale CBDC over a period of 2-3 months where we will see the scalability or security part of learning on a blockchain network but we need to see how at the end of the day all reconciliation of all transactions done today should be nullified at 0 that is the ultimate aim of CBDC it is not only to bring financial inclusion or it is not only to bring some kind of one wallet for a better customer experience but at the end of the day how do we nullify all those operations which we are doing since so many years on current payment ecosystem like it takes T plus 1 or sometimes T plus 2 and a lot of manual efforts to do that reconciliation settlement which will be do away with a CBDC it is a larger game I think we keep announcing POC's pilots it is good for that larger game but ultimately it is very very important how do you have a right infrastructure and interoperable infrastructure which can work from one country to another country and moreover it should on board not only current payment railroads but eventually the way we have seen insurance was not there digital insurance or wealth was not there in 90s or 2000 so all of a sudden with digital adoption there are lot of instruments are coming in our life now UPI account aggregator and many more ecosystems are coming but CBDC coming in it will open up multiple business products and so how do you have appetite for those many transactions when today UPI can handle some thousands of TPS or 520,000 of TPS this will go over 70 70,000 TPS in current university now what we are building today as a CBDC it should remain atleast for the next 5 to 10 years so we need to see how adoption of right platforms based on cloud we need to see if it is a blockchain also how it will really take care of reconciliation part on the same day so that equation remains atleast on the same day we are going to reconcile all the India transition in the Indian context and when it comes to cross border to my CBDC to another CBDC all together but good to see that RBI is very very keen on top of it and government of India is also supporting I can say as a humor that we have seen digital or rather demonetization 2016 can you not see some digital demonetization and say from tomorrow onwards all paper currency is gone and we are on the only digital I think which we have seen so I understand that of course there are so many things so in the time I will move on to Deepak for his remarks on CBDC before we conclude this session so we are actually running bit late so Deepak your remarks on how CBDC can help or if you want to talk about metaverse so that was our third theme and I see metaverse as a channel application or extension of existing channels of how you interact with customers so how do you see metaverse and CBDC playing together I think that would be a question to answer see I will first finish couple of points on the CBDC part I think the STM panel has already spoken about infrastructure like Prasanna said CBDC is a very early stage we have still not gone production it is still on pilot and there are other countries where they have already moved to production there is a lot of learning which we are going to carry through these 10 level countries and there is a lot of opportunities where the fiat currency was not able to solve the CBDC is going to solve because the traceability of the currency itself is going to solve a lot of problems and there is a lot of NPA issues with the micro financing and banks and lending ecosystem which can be traced and which can be transparent and it can reduce NPS in case of farmers when the micro financing is happening they take the loan for farming but they spend it for ready so there are a lot of things which can be controlled and we can build the ecosystem there infrastructure as of course 4G is still not 4G across India now we are talking about 5G by the time 5G matures probably whole of India gets 4G properly and there are freebies where governments are issuing maybe some governments will come and issue smartphones to their electoral agenda manifesto we will say away from the politics and electoral competition see there are CBDC is going to change the game for the exchange itself for the purpose where fiat currency is being used and it is going to solve a lot of infrastructure issues as well because since it is digital and it is a lot of education needs to happen at the deep roots of the corners of the country but the adoption with post COVID has happened faster than any other country I don't see any challenge in India for adoption of digital currency we have been living with multiple currencies in the past history where we had more currencies than any other country itself so I don't see as any roadblock it is going to be a great opportunity for India where India needs to now step up the whole process is to CBDC diplomacy like we had a vaccine diplomacy we need to extend this technology and experience to poor countries and developing countries where you can actually get through the nationalization of the CBDC faster than what we are expecting so that is one thing which the government wants to have it would be collaboration it would be collaboration of not just us I think we need to collaborate and create global standards and global technology to solve these global challenges because these are global challenges right so I am sorry to cut all of your short I know that we had some time we wanted to discuss and there are so many burning questions right and thank you all for being here and giving such wonderful answers enlightening us with your thoughts and it was definitely an intriguing discussion I hope everyone enjoyed that session so we were live at three locations in addition to our virtual audience so I thank you all for being here and participating in this panelist and all those you know members of India chapter and you know contributors of India chapter and blockchain enthusiasts who have joined us together so thank you all Arun Kamlesh do you have final thoughts or I think we can close it and we can continue thank you everyone thank you thanks everyone thank you thank you everyone for joining us today thank you everyone for joining us from different locations so that concludes our event so any final remarks from Kerala location I see Nikhil yeah thank you thank you for hosting us and thank you alright so I know thank you bye so there are so many answers so for people in Bangalore we will be taking photographs so we cannot come right we will stop streaming on youtube as well okay thanks thank you bye bye Vikram I think you are can you stop streaming Vikram you are the host okay