The finance club of Uttaranchal Institute of Management, Uttaranchal University, organized a Panel Discussion on Blockchain technology in the financial market – Future Trending Technology on 09 July 2022, for the students and faculty members. The inspiring academician from a top university joins a panel discussion and was discussed and depicted under the direction of Prof (Dr) Pradeep Suri, Dean, UIM. Uttaranchal Institute of Management’s Finance Club brought together this successful event.
The event was addressed by well-renowned following industry experts:
- Dr Afzallur Rahman, Professor &HOD Department of Commerce, B S Abdur Rahman Crescent, Institute of Science & Technology
- Prof (Dr) Hanumat Sastrt G, Professor In Charge Research School of Computer Science, University of Petroleum & Energy Studies
- Dr Aman Dua, Assistant Professor, NIFTEM (Central Government Institute Sonipat)
- Dr Vinayak A Drave, Assistant professor Ph D from IIT Kanpur, O P Jindal University, Sonipat
- Dr Abhishek Kumar Pathak, Assistant Professor, Uttaranchal University, Dehradun.
- Dr T Joji Rao, Professor Finance, Director JGBS Ph D programme, O P Jindal University, Sonipat
- Dr Joanna Rosak – Szyrocka, Assistant Professor, Faculty of Management, Czesto chowa University of Technology Poland
- CA Rubneet Anand, Manager, Corporate Planning M/s SML Isuzu Ltd
The event commenced with the felicitation of Hon’ble Chancellor Shri Jitender Joshi and panel experts. The event was graced by the presence of Prof (Dr) Pradeep Suri, Dean, UIM, and Dr Sonal Sharma, Dean – USCS.
Event Coordinator and Master of Ceremony, Ms Neeti Misra Assistant Professor, UIM started the discussion with the introduction of blockchain technology and its role in financial markets. with a warm welcome to all the expert panellist and briefed about their profile.
Prof (Dr) Pradeep Suri delivered the Inaugural Address and explain what blockchain is, he also talks about the usage of blockchain to secure data. He covered concepts related to bitcoin. He also threw light on this technology which can be used in many ways and it’s a long way to go in the stock market. He emphasized that the session will be fruitful so he suggested all the participants to make the most out of it. The complete focus of the panel discussion was based on scalability, privacy concern and cost efficiency involved in blockchain technology and how to overcome particular limitations.
- Dr Afzallur Rahman – He briefly explained the blockchain technology concept from the very scratch with the PPT in a simple and easy way. Which was even understood by non – technical audiences. He concluded on the question that was asked by the convenor whether it is feasible to adopt blockchain in the financial market, the answer to which was due to an enormous number of limitations in security and privacy issues, being it a costlier affair for companies it is not that easy to be adopted as seems.
- Prof (Dr) Hanumat Sastry G- Talks about the benefits of blockchain and how it provides security to the data. He emphasized on scalability issues can be overcome with blockchain technology.
- Dr Aman Dua – He also adds in the discussion that in order to maintain security there is a key aspect of privacy in blockchains is the use of private and public keys.
- Dr Vinayak A – He thoroughly put a light on smart contracts, digital leaders, centralized and decentralized blockchain and security of hard earn money, cloud computing proper governance by various regulatory authorities Reserve Bank of India financial institution of India and other countries.
- Abhishek Kumar Pathak – He explained with the help of a case study held in September 2019 London UK, a food processing app as Swiggy and Zomato in India, There was a repetition of order and payment suffered by the customer due to this technology so, privacy and security of data is must need in order to have a proper implementation of this technology.
- Dr T Joji Rao- He considered himself to be a technocrat and was very much in favour of this technology being taken for future generations. Currently, its coupled with so many limitations.
- CA Rubneet Anand- She assented with the other panelist on the question of whether blockchain technology is futurist or not. Being from CA she was able to highlight the tax regime on blockchain and bitcoin transactions, which the government of India is going to include in their regulatory policies, which will favorably influence the people to adopt more and more technology.
In the end, the session was concluded by all the Experts that Blockchain technology is an efficient technology and should be adopted for the financial markets. The event successfully concluded with a Vote of Thanks which was proposed by Neeti Misra and Dr Rajeev Ranjan.
