• Crypto Lists
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
  • Join our Telegram Community
Newsletter
ItsBlockchain
  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    Bitcoin ETFs could have the same result as CME group futures launch in 2017

    featured image

    How Bitcoin can be hacked?

    keep bitcoin safe

    Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

    featured image

    Bitcoin IRA – Everything You Need to Know

    A trillion dollar tsunami is about to hit Bitcoin

    A trillion dollar tsunami is about to hit Bitcoin

    featured image

    Why Bitcoin will always be the number one cryptocurrency? Explained

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

    Trending Tags

    • Crypto Gems
    • NFT
    • DEFI
    • Crypto Lists
    • Altcoin
    • Crypto Market
    • Guide
    • IBC Capital
    No Result
    View All Result
    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home Interviews

      Interview with Mr. Nitin Narkhede – Head of Blockchain, Mphasis

      Hitesh Malviya by Hitesh Malviya
      August 27, 2017
      in Interviews
      0 0
      0
      Nitin Narkhede
      18
      SHARES
      226
      VIEWS
      Share on FacebookShare on Twitter

      Thanks for taking the time out for our readers. To get right into it – how did you get into blockchain?

      Nitin Narkhede

      At Mphasis, I head the Service Innovation group. As part of our charter, we explore newer technologies to define innovative service offerings for our clients. Blockchain was one such announcement made in 2015. We set up the Centre of Excellence (CoE) for blockchain back then and the efforts continue till date. Hence, for me it wasn’t an afterthought to learn about bitcoin & blockchain but a very conscious decision to leverage the technology for our customers.

      (2) What is blockchain in your own words?

      Blockchain is a remarkable methodology to weave the entire world in the network of trust and transparency. When I see the possibilities that could open with the adoption of blockchain for corporates and consumers alike, I see nothing less of a revolution for the mankind. Blockchain will be adopted by all businesses and processes sooner or later. Blockchain is a key that will enable every human being in the world to be connected to this network and conduct business with each other in a more transparent and secured way without involving an intermediary. Blockchain is a futuristic technology, so to say.

      (3) Why Blockchain for banking industry?

      Theory: Banking is an essential requirement for development of any individual. Yet, more than 2/3rd of the population worldwide do not either have a bank account or an access to banking because it is centralized today. Blockchain will provide a platform to decentralize it and open up for innovation in this space. The effort will be to enable banking for everyone who has a smartphone. That’s a revolution brought to the world by blockchain technology for all our banking needs.

      Practically today, banking industry could certainly be a big beneficiary of blockchain adoption. It has a potential to transform banking to make it a lot more secure and simpler than what it is today. The complexity created due to intermediaries can be simplified by using blockchain. Banks shy away from the word ‘transparency’ fearing security concerns. Blockchain will bring that level of transparency in operations making it further secure for its consumers. Trust is the key feature when we talk about banking, though that actually involves banks as an intermediary themselves. Banks will ultimately leverage the technology to bring more value to consumers alternatively. Rising CIR, coordinating with multiple intermediaries to settle/reconcile transactions, prolonged settlement times, external risks like fraud and a hack is a major concern for the banks. Blockchain could possibly help to reduce CIR and systemic risks for the banks. Further, system downtime, regulatory requirements, associated audits and reconciliations are high costs for the banks and blockchain will bring lot of relief in these areas for the bank thereby ultimately reducing cost to the user. So there could be multiple areas of looking at blockchain for banking industry. The most common use cases being experimented are identity management, trade finance, capital market reconciliations, interbank reconciliations and clearing and settlements.

      (4) Tell us a little bit about Mphasis Blockchain CoE, what is the offering and how did it come about?

      Mphasis Blockchain CoE was setup  mid-late 2015 but was formally announced in June 2016. The CoE is primarily focused on experimentation and developing propositions from services perspective. Mphasis is an IT service provider, specializing in cloud and cognitive solutions, and we want to enable our clients understand and experiment with blockchain appropriately for their customized business processes. We provide sandbox for them to experiment and experience blockchain. Our team helps them develop these use cases on their choice of platform. We have service propositions in three key areas – Secured record keeping & data transfer, revolutionizing legacy practices and decentralization. We experiment integration possibilities with multiple technologies as prevalent today and also develop reusable components as plug-n-play modules. Most of our projects are with existing clients from The United States, but we do have projects globally.

      (5) Why Private Blockchain is a good fit over public blockchain for enterprise?

      You mean Permissioned blockchain vs Public blockchain for enterprise. At Mphasis, we developed a point-of-view initially to develop capabilities particularly in Permissioned blockchain. It is evident now why Permissioned is more preferred over Public but in 2015, this decision was an outcome of some research. We found that despite its properties to make blockchain very secured and trustworthy, corporates will be reluctant to adopt Public blockchain primarily for two reasons – the requirement to make data public and have external factors validate a transaction; and the other is usage of a cryptocurrency, that could be highly volatile thereby impacting the operating cost. I think even today these are the two key valid concerns to look at adoption of Public blockchain. Other shortcomings from a corporate perspective w.r.t low capacity, high latency and unknown miners could still be addressed.

      (6) Where do you see the use cases in the next 5 and 10 years?

      Blockchain technology is here to stay and we will find this moving into mainstream shortly. We will see the technology adoption in multiple facets of our lives. As consumers, where the possibilities are endless we will see a launch of services that we have not experienced before. Three immediate areas where I am bullish in near future are new Banking services, differentiated e-commerce and few Government initiatives to eliminate intermediaries and corruption. We will see lot of innovation in this area. For corporates, the focus will be on in-house adoption of the technology to bring cost and process efficiency. Record keeping, internal settlements and creating transparency for the consumers are the three areas where we could find them adopting blockchain in immediate future.  At the market front, we will see more industry consortiums participants acknowledging blockchain benefits and coming together to adopt blockchain for common industry pain points like fraud and KYC. I also believe that we will see development of legal framework around acceptance of cryptocurrencies as an alternate currency and Bitcoin will find recognition as first global currency.

       

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: blockchaininterview
      Share7Tweet5Share2

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      Polkadot interview

      An Exclusive Interview with Polkadot Team

      by Hitesh Malviya
      May 25, 2021
      0

      (Responded by Urban Osvald, Growth Manager, Web3 Foundation) What is the vision behind Polkadot, and how it’s different from its...

      Will Clark from Lisk

      What it takes to be a blockchain developer – Will Clark from Lisk

      by Hitesh Malviya
      April 12, 2018
      0

      At the Token2049,we met with the Lisk team, where we caught up with Will Clark, a full stack developer. Will...

      Records Keeper

      Records Keeper has an innovative solution to avoid the recent CBSE fiasco

      by Hitesh Malviya
      April 10, 2018
      0

      Late last year, we interviewed Toshendra Sharma, the CEO of Records Keeper, a blockchain company, on the scope of ethereum,...

      How Bluzelle built a team that helped raise $19.5 Million

      How Bluzelle built a team that helped raise $19.5 Million

      by Hitesh Malviya
      March 11, 2020
      0

      At Token2049, we got the chance to interview Pavel Bains, CEO, and co-founder of Bluzelle. Bluzelle has been trending in the...

      John McAfee will speak at CoinsBank’s Blockchain Cruise Asia

      John McAfee will speak at CoinsBank’s Blockchain Cruise Asia

      by Hitesh Malviya
      March 1, 2021
      0

      Blockchain Cruise Asia will take place January 15th through 19th, 2018, departing from Singapore to Phuket (Thailand) via Penang Island...

      Load More

      About Us

      We curate the best cryptocurrency projects with the intention of adding value for investors through the process of selecting, organizing, and looking after different projects available in the cryptocurrency market.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      February 2, 2021
      Top 5 DeFi Projects on Tezos

      Top 5 DeFi Projects on Tezos

      December 26, 2022
      Trading Tips for Altcoins

      6 Lesser known Trading Tips for Altcoins

      February 17, 2020
      Be warned! Hackers are abusing API keys and stealing your funds

      Be warned! Hackers are abusing API keys and stealing your funds

      June 15, 2021
      Crypto Punks, Axie Infinity, and Open Sea have done more than $10.35 billion in sales combined

      Crypto Punks, Axie Infinity, and Open Sea have done more than $10.35 billion in sales combined

      September 26, 2021
      Top crypto coins for 2018

      Top 25 crypto coins to Buy in 2018 [UPDATED]

      October 4, 2018
      zed run

      A Beginner’s Guide to Zed Run: Digital Horse Racing NFT Game

      August 26, 2021
      Polygon: The Swiss Army Knife of Web3

      Polygon: The Swiss Army Knife of Web3

      May 27, 2023
      Worldcoin: The Biggest Crypto Scam or Innovation?

      Worldcoin: The Biggest Crypto Scam or Innovation?

      May 18, 2023
      EIP-4844 Explained | The Biggest Ethereum Upgrade

      EIP-4844 Explained | The Biggest Ethereum Upgrade

      February 7, 2023
      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      What Blockchain Can Learn From Barnes & Noble and the Jacksonville Jaguars

      January 17, 2023
      RINO Enterprise Wallet launches free Community Edition

      RINO Enterprise Wallet launches free Community Edition

      January 14, 2023
      Top 5 DeFi Projects on Tezos

      Top 5 DeFi Projects on Tezos

      December 26, 2022
      Modular Blockchains: The Next Big Thing in Web3

      Modular Blockchains: The Next Big Thing in Web3

      December 12, 2022
      • Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        Top 10 Cheap Cryptocurrencies with Huge Potential in 2021 | Best Penny Crypto Coins

        29635 shares
        Share 11843 Tweet 7402
      • A Mysterious Bitcoin Whale who sold 3000 Bitcoins at 58K$, Bought back 3521 Bitcoins in the last three days

        9933 shares
        Share 3972 Tweet 2483
      • Top 10 Low market cap altcoins to invest in 2021

        7269 shares
        Share 2906 Tweet 1816
      • Top 10 NFT Crypto Projects You Should Know

        7255 shares
        Share 2623 Tweet 1640
      • List of leading partners of Ripple, and How they use XRP?

        6148 shares
        Share 2459 Tweet 1537
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • Bitcoin
      • Crypto Gems
      • NFT
      • DEFI
      • Crypto Lists
      • Altcoin
      • Crypto Market
      • Guide
      • IBC Capital

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.