A neoteric gathering of visionaries, a mix of innovative ideas, the celebration of a revolutionary future and a vibrant feather in the hat of decentralization - UCIM was just all that it promised about. The two-day long United Conference of Internet Money that shooted through 26th and 27th of November at the global fintech capital, Singapore, adjourned later to be jotted down as a milestone in the progressive history of blockchain and cryptocurrency.
The illustrious event witnessed a series of power-packed activities ranging from limelight opportunities of Golden Block Awards and Pitch-a-thon to enticing roundtables, afterpaties, and press meets. Attended by over 350 global delegates, the event stood host to more than 50 influential speakers who imparted their immense knowledge and understanding of futuristic technologies to the greater audience. Also distinguishable among the 5 keynotes was Babu Munagala, the co-founder, CEO and Managing Director of Zebi, the Big Data Blockchain company that seeks to make database exchanges seamless, secure, tamper-proof, and immutable.
In his speech, centred on the use of 'Blockchain for Privacy and Security of Sensitive Data', Munagala stressed on the red-zoned susceptibility of computerised data to unmarked breach and manipulations. Document intensive workflows, multiple manual hand-offs, and the silos processes tend to demand time and investment, notwithstanding the prospective data vulnerability.
"There is actually a regression," he said. "As per government regulations, you have to regulate all of your identity. You need to provide your passport or any other sure identity to a random person at hotel reception just to prove that you are not an impostor. But the computer storing the data is being tampered behind their back and how your information is being protected gets compromised."
This is an issue presently looming over multiple economic sectors across the globe. Talking about the capacities of blockchain technology, he professed that the disruptive technology holds tremendous potential at tackling the situation and rendering the much sought protection to organisational operations and data transfers. He believes that networking and integration of the technology, enterprises, institutions, and the government by large can decisively spin a palpable web of security and transparency around sensitive data.
Munagala further presented the Zebi blockchain solution that targets instillation of blockchain approach in various operations including ICO execution, hotel data entry, land registration, logistics data, university degrees/marks data and more.
The speech concluded with Babu quoting the wide scale adoption that the solution is already observing in the real world with two state governments (Andhra Pradesh and Telangana), 700 hotels and many pilots in the loop. He shared that with two patents having been filed, Zebi is currently reveling in the design stage of its public blockchain.