The Blogchain: CryptoIndia Series Intro
Brief Statement from Steve Vilkas, Block Relations Director of Intelligence
With the recent establishment of BR’s Business Intelligence Bureau as our first Strategic Service offering, I’ve been pleased to witness a wellspring of clear, concise and precise analysis work being conducted by team members, contributors and partners within the ecosystem. Brian Hough’s piece on the Twitter cyberattack is one such example. I’m now pleased to introduce another something special — authored by one of the most intentional, intelligent and ingenious individuals I’ve ever had the pleasure of working with…
Techno Impact’s own Varsha Manek.
Varsha’s level of skill and expertise as both an analyst and builder will be displayed in a series of articles adapted from her work as the Station Chief for India within the BR Business Intelligence Bureau. Made digestible and in many ways “snackable” in terms of bite-sized content, her reports can be approached and appreciated easily.
I’d like to thank Varsha for her exemplary work and look forward to her continued contributions to Block Relations and the ecosystem as a whole.
“Taking a long look, we can see that Blockchain innovation has had an interesting…albeit slightly paradoxical journey within India. On the one hand the technology has seen great support come to it from the startup ecosystem as well as certain sectors of the Indian government, but it remains to be seen how far the adoption and acceptance process can proceed.”
-Varsha Manek: Introduction to CryptoIndia Briefing
Intriguing, at times incomprehensible, the overall excursion has thus far been — if nothing else, extremely interesting. Groundbreaking power, latent capacity, even simply trying to perceive and arrive at a more precise understanding has been foremost on the agenda for most analysts, influencers and officials.
My own analysis, broken up here into a series of several articles, will tell that story. We will outline the history of blockchain in India, examine its current status, and in a cautiously optimistic sense produce a few reasonable assumptions about the future.
“New data can be added to a blockchain only with an agreement between the various nodes of the blockchain network, a mechanism known as distributed consensus. Every node of the distributed network has its own copy of blockchain’s data and checks the other nodes’ data authenticity — if one node changes its local copy, the other nodes reject it. New data is added to the new block, and once added, it is immutable. Older data can neither be deleted nor modified because a snapshot of it is captured in the blocks of data that come after it.” — Blockchain Explainer provided by NITI Aayog — a significant step!
One of my primary sources is to be “Blockchain: The India Strategy — Towards Enabling Ease of Business, Ease of Living and Ease of Governance” as well as my early field exercises, experiments and experiences in attending experiences provided by the Inblox Network for example.
I will also be examining a few exciting use-cases and examples that will provide imperative substance to the argument, and see where and when blockchain could may make a major difference.
We will be asking questions and attempting to unpack and disentangle knotty issues such as which government specialists control cryptoassets and which organizations are capable of effective execution, the depth of regulatory ramifications, where proper investment might lead to considerable prosperity but also where too much hype and misdirection could send things off the rails.
Please join me on this journey!
