Indian Budget 2021-22 : Pragmatic and Prismatic Policies for the Post Pandemic Market Makers

Government of India Union Budget 2021 is a convergence of pragmatic and prismatic perspectives reflecting the currents of development finance and contours of radical markets emanating from the reviving and resurgent Indian economy. The COVID pandemic has demonstrated the a direct dichotomy in the resilience of macro economy and the ruptures across the micro economy in India at large. This has highlighted the fact that while India has a very salient and fault tolerant communication ad financial infrastructure, our healthcare, agriculture and transportation infrastructure has a lot of limitations.

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Union Budget 2021 – 22

Despite having a scalable and secure digital identity infrastructure and communication network, we faced a lot of challenges in the labor movement across India during the pandemic time. We also faced a very uneven and fragmented response to the implementation of lockdown across the states.

All of us remember how Indian economy responded to the demonetisation drive from the Government in a swift and seamless manner. It had its own challenges such as the cacophony and confusions in the MSME sector. These issues in the realisation of demonetisation can also be traced back to the limitations in the auditability and accountability of the commercial infrastructure and the monolithic nature of the monetary markets. As a sequel to the demonetisation drive, now we are seeing the rise of a national asset monetisation drive in this budget.

In this context, the projections and perspectives of the union budget assumes paramount importance. Union Budget 2021-22 aims to bring down the excess deficit of 9.5% of GDP in FY21 to 4.5% by FY26 by means of concerted efforts at fiscal consolidation. This budget approaches fiscal consolidation through expenditure compression rather than increased tax buoyancy.

The focus on asset monetisation together with the continued efforts on divestment and foreign investment would be an interesting measure to support the fiscal fusion and convergent consolidation. Government institutions like Railways, Sea Ports and Air Ports, Power Plants etc. would be a prime point of focus in this factorisation program. The national asset monetisation drive could be a driver to unlock the real asset value through innovative business models, emerging technologies and digital disruptions. 

The budget allocation for COIVD19 vaccination in conduction with the concerted efforts to install a nation wide network of primary, secondary and tertiary healthcare centres in quite an interesting approach. It could harmonise the existing and emergent healthcare services industry with the nascent and niche vaccination supplychain.

It is very interesting to see that the Government of India is quite conscious about the necessity of a governance, regulation and compliance framework to streamline and stabilise the economic engine in the post pandemic polity through the policy of ‘minimal government, maximum governance’.

It is very evident that the Government of India is not in favour of massive economic stimulus programs and ubiquitous and universal basic income programs, popularised by many mainstream economists and fiscal policy makers. Instead, we can see the prisms of a new pathway to revitalise the fundamental fabric of Indian Economy by empowering the radical markets for the agricultural workforces and enabling the seamless supplychain systems across the length and breadth of the country.

It is definitely a fresh approach to governments and governance ; a gargantuan democracy like India adopting a calibrated, and curated approach to vitalise the economy by connecting markets, land, labor, and capital through transparent and t

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An Debate on Blockchain Technology Implementation Models by InBlox Network

Thank you so much Inblox Network and Inblox Events for kindly featuring the excerpts of my thoughts on the topic – Public Chains v/s Private Chains from our fierce debate on historic, economic and societal aspects of blockchain technology. The reflections from this creative conversation is still fresh in our emerging context of innovations and intricacies in the roadmap to scalability and security in distributed ledgers. Please let me share these thoughts to invite your thoughts on the road to a meaningful metamorphosis in the pursuits for scalability in public blockchains and the pursuits for purpose in private blockchains. 

Blockchain Pedagogic Methods for Engineering Education System in India

I had an opportunity to talk about Blockchain Technology and its building blocks to the students and faculties of MCA department in Jain University in Bangalore.

It was a great experience to reflect on effective knowledge sharing strategies and pedagogic methods in the context of Blockchain technology. Students seem to have good awareness about the importance of cryptography in the Blockchain technology at the outset.

However, they are not well versed in the concepts like consensus algorithms, synchronous and asynchronous processes, time stamping, merkle tree etc. I could see that the history and emergence of Blockchain technology through CypherPunk and Cryptoanarchist community was not much exciting to them.

Differentiating Blockchain Technology from Relational Database Management Systems

They were all attentive when I demonstrated Ganache UI and the Geth client. They were very curious when I demonstrated the use of Remix IDE and the Solidity syntax. All together it was a reflective and pedagogic experience to converse with young and ignited minds about Blockchain Technology.

Designing an Open Innovation Ecosystem through Lean, Agile, Exponential Methods

A sustainable innovation ecosystem emerges from the passionate and persistent efforts of a lean and agile team evolving through a perseverant and progressive environment. It is how we sum up the experience in designing, building, operating an innovation lab in an evolving and enchanting city of Thiruvananthapuram. This video is a reflection and recollection of this journey from a humble beginning within a corporate innovation lab facility to a transformational open innovation ecosystem that could partner with global research hubs such as MIT, Stanford University, TU Delft, Russian Quantum Centre, CSIR etc. This Digital Innovation Lab could also become the epic centre of research scholars and thought leaders from across India from academic institutions such as KTU, VIT, CUSAT, BITS Pilani etc. We could create a transformational impact on the innovation ecosystem in Kerala through this digital technology hub as we pivoted ourselves to the lean startup culture and agile program management methods. Looking forward to your views and thoughts on this journey !

An Opportunity to present in the SCTECH 2020 – A Global Supply Chain Management Conference

SCTECH 2020 is a global event connecting where the supply chain strategy, operations, finance, sustainability, engineering & financial professionals come together every year to share technology & practices focusing on efficiency/profitability. This year, due to COVID-19, SCTECH2020 is a Virtual Conference. Deloitte, EY, BCG, Morpheus.Network and (ISCEA -International Supply Chain Education Alliance) are the key sponsors of this event. It is my pleasure and privilege to be a speaker and panelist in this premier event together with the eminent leaders and visionaries like Dr. Marcell VollmerMassimo BuonomoCynthia Kalina-Kaminsky, Ph.D.Ednilson BernardesAnn RosenbergRobert KepczynskiChris Turner, etc. I am truly grateful to Thorsten Mebs, and ISCEA for the kind invitation and support to contribute to the future forward perspectives on supplychain finance, digitisation and sustainability. Please visit the SCTECH 2020 website for further details >>

DEFCON 28 – A Deep Dive on Delay Functions !

In the DEFCON 28, Tejaswa Rastogi and myself teamed up to present our research on integrating a new kind of cryptography powered randomness for radical markets blending RANDAO and Verifiable Delay Functions (VDF) to prevent DoS and DDoS attacks on Ethereum 2.0 beacon chains. This was inspired by our work in StarkWare Veedo Streak Hackathon earlier this year. Today we are continuing this work in EPIC Knowledge Society in a project known as ‘TemereNet’. We have also recently integrated VDF powered decentralised autonomous organisation (DAO) contracts using the Veedo Beacon Contracts created by StarkWare into our FusionLedger specification for emerging and exponential use cases in electronic auctions, electronic pricing, electronic invoicing networks, electronic voting etc. Please connect with us if you would like to understand more about the power of cryptography and consensus in creating radical markets powered by decentralisation.

A Session on Future Frontiers of Cryptography at Altered2020

It is really import to converse about the foundations and frontiers of cryptography to the creative and curious future forward minds. In the altered global landscape, cryptography will have a pivotal and prominent role in ensuring privacy, integrity, confidentiality, integrity, resilience, robustness, and fault tolerance of distributed computing and deep learning systems across digital economy.

It is really exciting to take a session on the future frontiers of cryptography in the “Altered 2020”. This is an Emerging Technology focused virtual event organised by IEEE MBCET Chapter.

Thank you so much RedTeam Hacker Academy Pvt. Ltd. CEO Jaizal Ali for inviting me to be part of this event. Thank you Fazal Marakkar – Google ADwords Certified for creative campaigns !

I will be covering the core concepts of symmetric and asymmetric cryptography with a reference to contemporary advancements such as homomorphic encryption, zero knowledge proofs, differential privacy, quantum randomness, multiparty computation, quantum cryptography and post quantum cryptography in this session.

Let me invite all security and privacy enthusiasts to register to this pioneering event ! https://altered.splashthat.com/

Future Frontiers of Cryptography

Algorand – A Blockchain Protocol with Random Algorithms and Dynamic Crypto Economics

Dear All, I would like to share an introductory video on Algorand protocol that I have recorded for the recently concluded India Dapp Fest. In this video we are talking about the main cryptographic and crypto-economic concepts powering this protocol.

It is a pragmatic protocol towards achieving #BlockchainScalability in a cost effective manner. It is leveraging randomness based algorithms ( that is why it is called ‘Algo-Rand’ in the place of famous and historic ‘Proof of Work’. It has constructed a ‘Pure Proof of stake’ using verifiable random functions (VRF). This protocol is a convergence of a lot of advanced engineering techniques like key management demon, REST based web services etc. It is designed by the inventor of #ZeroKnowledgeProof, Professor Silvio Micali himself.

We will share more details on Algorand in the coming days !! We have a digital community in India in Bengaluru. It is one of the first communities of Algorand in Asia itself. Looking forward to your active participation to contribute ideas, innovations and inventions in this community. You can find more about this community online : https://community.algorand.org/bengaluru/

Memoirs of an Innovation Workshop at DCSMAT Wagamon

The moments of curiosity and creativity from the Digital Innovation focused workshop at DCSMAT Wagamon at Idukki, Kerala are very much alive !! We spent quality time with a community of enthusiastic business management students in this lush green lovely campus. Let me share a video story of this memorable workshop with you …

Applying Analytics for the Digitisation of Interactions, Processes and Things

The scope and scale of analytics is ever widening with the latent manifestation of emergent properties in data at rest and data in motion.

Following diagram from MIT Technology Review article on the emerging technology trends summarises the perimeters of applying analytics for the lifecycle of digital interactions, processes and things.

Copyright : MIT Technology Review

Analytics for monitoring could be applied at a systemic scale and dimension when it is for a business problem at scale. Analytics for monitoring could be relevant and suitable for microscopic interactions and control when it is applied for fast data and small data related problems. Both system analytics and control analytics are intuitive and non-interpretative in nature.

Predictive and process analytics are dynamic and interpretive in nature as it analytics is the input to a logic constructed priori. The scale and scope of context varies in process and predictive analysis methods. Process analytics is mostly prescriptive and descriptive in nature whereas predictive analytics is exploratory and ephemeral in nature.