 Ladies and gentlemen, moving further without any delay, we are moving towards our next fireside chat, which is with Mr. Ramalingam Subramanyam, Chief Marketing Officer, Coim DC, ACI, and Ms. Chanpreet Arora, Business Head Boot, AVOD. May I request our speakers to please join us? Very warm welcome. Hi. Hello, Ms. Arora. Hi. Hi, it's a pleasure to be here. Very warm welcome to both of you and lovely to have you here. We are looking forward to the chat. Thank you. Thank you so much. Hi, Ram. It's a pleasure to finally be here together. Thank you so much. So, you know, one of the most exciting things like before we, before we talk about Coim DCX and your role there or my role at Root Week, I just want to talk about how excited I am to talk about cryptocurrencies. It's actually spent a whole week reading up more about cryptocurrencies before we have this conversation about how we build a brand. And one of the most striking things that, you know, in the previous session, we had this entire conversation about technology and I've actually taken some screenshots from the previous presentation, we're talking about headless, headless marketing. Now that takes it to the next level for me and this session is going to be more focused about the brass tags and the building blocks of how we build brands with people through different platforms. So, one of the most striking things, Ram, that I read today was the global cryptocurrency market capitalization is more than $1.5 trillion, right? However, the awareness and adoption of cryptocurrency in India is still at a very nice in stage and players such as Coim DCX and the industry at large has an uphill task to build awareness and trust in the industry and not just for their own brand. So without much further ado, I'm just going to launch into my first question about how do you build trust and build awareness in a volatile environment for the industry which in itself is lacking trust, right? So, yeah, thank you so much for having me here. First of all, the trust, right? Where does it come from? How do you believe in a brand or how do you believe in a particular industry? Right? It's about trying to build the right kind of understanding of a product. Or understanding of a brand. What India lacks is not, I wouldn't say it's a challenge of trust, but it's more a challenge of misinformation or a lack of understanding. And at various levels, it's not just, it's not that the larger consumer does not understand, but it's in various spaces, it is either misunderstood or people or the way it was portrayed at the first time. Perhaps people have certain notions about it. How do you go about building that trust? So this is what we believe. We felt that it's a three-step process. I need to build education. I need to build comfort when I say comfort, build products that are simple and safe for people. And lastly, work in an environment which is comfortable for everyone to put their money in. See, it's not unlike other products out there in the market. This is an investment asset. People earn that money hard and they want to now invest into something which they are, first of all, very confused about. So we need to build that conducive environment. It's up to us as the players in the industry to do that. So as we said, these three steps, our focus was on building education. We launched a complete education portal called DCX Learn. That was the first step that we took last year when we went big in trying to focus on the entire adoption piece in India. We launched this entire tri-crypto campaign last year with the focus that we need to reach out to 50 million Indians. Now, for that, the first step we took was not run an advertising campaign but to build an education portal. Then we went ahead creating that comfort, so building simple products, building some mechanisms by which, for example, what are the asset classes in which people should invest in. Now, it's not an exchange's job to tell you should do this or do that. However, in an environment where people are just about to enter and explore, there is some amount of responsibility that exchanges have to give them a guided path. We are not recommending a particular thing, but when you talk about 8,000 plus assets out there and when people are struggling to understand one, we felt that we need to come up with an unbiased method to introduce them into a certain category of tokens or assets which are safe to begin with. It's not that they cannot go into other assets. We have a different product available for people who want to invest into, say, different tokens, want to do some amount of advance trading. We have a product for that, but when it comes to mass consumption for the first time user, we decided to limit that and lastly, we built a product that was easy for everyone to use and then came the entire advertising. So that was the structure that we had and like in the words of Howard Schultz, who led Starbucks, if people believe with the values of a company, they start becoming loyal to it and that's what we have started experiencing because people understood and appreciated the way we went ahead in the entire adoption curve and I believe these would be the right steps to build trust along with acquiring more and more customers. That's right. Thank you so much. So there's a very interesting point that you brought up which is trust in the player and trust in the people and even now in India and I know a lot of people market me personally when I say I'm totally dependent on my financial planner. So the first thing I did personally was pick up the phone and asked him, should I be investing in cryptocurrencies? And he said, I have no clue. So is there a lot of people in the B2B segment that are involved in enabling investments in India? So my one question is, are you taking steps in educating the intermediaries as well? Is that kind of a system that's working for you because while you're a B2C solution, you also have this B2B category to cater to? Yeah. So when we started DCX Learn, so DCX Learn is a portal where you can go and learn, learn about crypto, blockchain, about how to trade and so on and so forth. But DCX Learn as an initiative was also heavily driven via the community approach. So we regularly do seminars, we regularly do training programs for, as you pointed out, intermediaries, financial planners. We have done work with the big force, training their people and so on and so forth. So yes, this is an important aspect. But we also believe, so this is also something around about blockchain, right? It's an interesting part which talks about decentralization. We generally, as you pointed out, that's how it is, we go to our financial planner. We have to believe in someone, we have to trust someone. The whole concept of blockchain and Bitcoin talks about a trustless system, where people can actually come up and take their own decisions without depending on someone. You can obviously consult someone, but you don't need to depend on someone to take a decision. So it's a balance. We have to use the traditional approach, educate the masses and including to educate the financial planner out there. But the goal of the entire blockchain and the financial revolution has been to bring that power back to the people and build an ecosystem. It might sound utopian right now, but build a decentralized ecosystem. So I'm going to segue into this ecosystem approach. When an ecosystem is being built on one side, there is the government which is evolving in its thinking process and on what the ecosystem should be. And then there are players that come in. And a lot of times you see that players are making mistakes as we all are aware. How are you dealing with that while there may be some players or there may be regulation and which both are impacting the trust for the industry at large. What role do you think CoinDCX is playing or should be playing in this entire scenario to build trust at an industrial level? We are such a small industry today that obviously we know everyone in the industry. We know all our colleagues. We have been at dinners and these are the regular stuff that happens. And this is always a common belief that we have that is keeping us all together. The beliefs that this ecosystem needs to be built. Yes, people will make mistakes here and there. Objective of a leader in the pack is to ensure that we are all aligned to a certain goal. And we are all aligned to a particular objective. And this is a constant dialogue that keeps on happening within the industry itself. When it comes to the government side as well, government is the biggest example of decentralization. It's democracy today. The powers lie with the people and it is off the people. And if the people are not aware, I don't think the off the people will also be as much aware. And it's not their fault. The technology is evolving so fast. There are new avenues that have opened up. And I'm very happy that the government is taking steps towards it. So even the latest announcements made from their park, they are taking steps to understand what this is all about and come up with a system by which they can create a a facilitative framework to regulate this this environment. And so that see the intention from all parties here, be it industry, be the regulators is is all about protecting the investor at the end of the the person who's taking that taking that risk in investing should should have some kind of a protection. And that's the interest across. And that is something that we definitely definitely welcome, definitely recommend that the government should work on. And we are happy the way in which the way in which the communication is happening at the government level within the industry, the way we all the all the players are talking about it. Yes, there are reports that keep on springing up here and there. But in general, the overall sentiment today is definitely one of hope and one of positiveness there. So if we have to simplify this for an average user, right, like just assuming, even from a brand building perspective, the only comparable that I could come up with was that gold at some level would have had a current status is not that gold is used for industry is not that gold is particularly used for anything except there is a certain perceived value of gold because at one point in time, it was currency that I feel like it's come a it's come a full circle where now we have Bitcoin, Ethereum, except for USDT, I don't know if there are any others, but then there are lots of currencies and I can't we can't really define what is the base value or the inherent value of the currency. How do you approach that question? It's part technology and part pure understanding like what is the comparison and if you can talk in reference to how you see gold having evolved. So this is this is definitely a question that is asked a lot people ask what's the intrinsic value of Bitcoin, where does it get its value from? Why is it priced at a particular point? And the simple argument to that is why is gold priced at something? So jewelry is very small use case, but beyond that, the biggest use case today for gold is store of value. And where does that value come from? It generally stems from what we call as a network effect. People believe in its value, people believe that there is if I store my reserves in gold, it has certain value and I can go ahead and the same happens with the bonds market with currency in itself. The idea about Bitcoin is very similar and there are different other assets that are there, but Bitcoin is very similar to a gold as an asset class. How you can buy a portion of gold, you can invest in that, you can store it for say the future, same way you can do it with Bitcoin. Is there a volatility in the market? Yes, as it is there with gold as it is there with Bitcoin, it's there with all other asset class when it is a tradable commodity, there is volatility as a feature is there with Bitcoin and various other assets that are there within crypto space, but it is just another form of an investment which is driven by a network effect similar to the network effect of gold. So as a final wrap up question Ram, thank you for humoring our basic questions, but as a marketer for any other marketer who's dealing with an industry which is so evolving, is still self-regulated, regulation is where as financial industries, any financial asset under SEBI and SEBSE is heavily regulated. What would it take for any marketer like over a period of five years or 10 years maybe even in the coming decade? What are the top three pegs that you would focus on to help get Bitcoin to the same mainstream gold status that we have today? So see the three pieces that I highlighted earlier, education making people comfortable about it and then coming up with a solution that is compliant with existing laws. We believe these are the steps to go ahead. One thing that as a marketer we should remember is having discipline in an unregulated environment. We are like one of those newborn kids out there. We can do whatever we wanted people will say, we are in that space. But how do I evolve into someone who is respected, who has that kind of a trust is once I take that understanding of being disciplined across whatever I do and holding ourselves accountable to our own value system. While I can have a business pressure to acquire customers, get a X amount of revenue, drive profits, it really ends up on how I stay close to the value system that we actually started the business on and how do we stick to it as we start scaling? There will be many questions that will come in as we go forward in the years to come and I'm looking forward to regulations coming in. They might change the dynamics of the industry in itself, but are they close to the value system that we started with and those campaigns, those activities as marketeers that kind of comms that we use is something that I feel will help us grow the stature of cryptos as an asset class, coin DCX as a brand working in this space and for all the industries in India because one thing that I truly believe which has come from founders also is that there has been multiple revolutions within the tech space. There is one where India as a country wasn't a big part when the first revolution came in. The second revolution most likely was built by Indians, but the capital was not put in by Indians. But this is a stage where the capital is Indian, this technology Indians are building it up and this is the right time for us to help and contribute towards this overall dream of nation building that everyone shares here. So this is a point that we can achieve. We don't want to miss out on it. That's the whole bottom line. Thank you so much. It's been a pleasure to hear your perspectives. Thank you so much. Thank you, Ms. Arora and thank you, Mr. Subramanian, what a beautiful note to end this conversation also on that this is the right time for us to build the nation in whichever field we are. So thank you so much, both of you for your time, for this insights that you brought to the table. Thank you once again. Thank you so much for having me. Thank you.