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Kjell Preetam Mahesh Panel - Bcrpt India Roadshow 2022
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Nov 1, 2023
India is developing an index in the contemporary world economy by exploring a diverse array of technological innovations in the BLOCKCHAIN ecosystems around the nation, which provide faster and cost-effective growth to businesses. Through Bcrypt we would like to provide you with a deep insight into a recurring set of back-to-back conferences that will be held in India, starting with Chennai, Hyderabad, Mumbai, Jaipur, & Delhi from October 8-16, 2022-INDIA ROADSHOW. This roadshow will facilitates Influencers, Entrepreneurs, Investors and Developers to foster and promote the adoption of WEB 3.0, NFTs, BLOCKCHAIN, CRYPTO, METAVERSE, & DeFi. Visit #Bcrypt : https://bcrypt.live
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0:00
I'll give you a one or two minute intro and then we can take it from there
0:12
So, SHAR platform is Shopify for Web 3. So brands and communities and the gig economy can easily onboard to Web 3
0:25
Right now it is too hard for the average consumer to participate
0:29
consumer to participate and for communities and businesses to do so. So then what are the components of Web3
0:42
I think Mahesh has covered some of that over the last couple of days, but if you were not here
0:47
think of the applications like tokens, the Metaverse, and NFTs. Let's try to keep it simple
0:57
All right? So that's the applications, if you will. And then you will enter the Metaverse to start earning and spending that
1:06
Does that make sense? So we are building the infrastructure. And then just like Shopify, if I'm a business or a community, I just go, click here
1:19
I want my own Metaverse. Click here. I want my own wallet
1:24
But you have to use our Sharp token. So we charge you a small monthly subscription fee for the infrastructure and we will handle all of that
1:36
But then you have to use our token. If you say, well, I want my own token, I'm Burger King and I want my token to be called Burger token
1:47
Okay, go ahead and do that. We will have a consulting partner that will help you do all that
1:54
Does that make sense? We just want to be the infrastructure. infrastructure provider to easily onboard businesses, communities, and gig workers to the Web 3 economy
2:06
Make sense? So that's what we are trying to do. And one of the reasons we're here is we want to get feedback from all of you, right
2:18
So we've had a survey going for the last three days. Like most of you said, you've done it
2:25
If you haven't, after this session, go and fill out the survey
2:29
But I'm super excited to let you know that we have 507 responses to our survey as of right now
2:39
That's amazing. So thank you for those that have filled it out. So then you're like, okay, great
2:44
You filled out a survey and what's going to happen? Well, I'm a believer in co-creating products and services
2:52
That means... Shell. Let me add more to that. Okay. Before we do that
2:58
All right. Let me ask you that question. How many of you post stuff on Facebook, Instagram, Twitter, all those, TikTok, all of them, everybody
3:09
Or even reading stuff. How many of you read there? Everybody, right
3:15
Everybody reads there. So posting, reading. This is like a, and how many of you really get paid for that
3:25
Nobody? What? I get checked from Facebook all the time. So that's exactly one of the problems is
3:34
that we are creating content almost every day, every minute, every second
3:41
You're sleeping, you're creating content. Right? You have smart watches, you have smartphones
3:48
You came here from your home. You're creating content. Google already know where this message
3:55
is taking you right you go to doctor doctor feels gives you medicine they put in the
4:02
system you're creating content so everything we're sleeping and watches are tracking our sleep oh you sleep for five hours but this data has been created
4:13
this content to be created it's being sent to somewhere somebody some company
4:17
right so that's one of the biggest I don't even think it's a challenge that's one
4:23
of the problem in this web 2.2 is that these companies like Facebook, like big formats, big banks
4:35
and like Google, Microsoft, all of them, not just one. That's what their business is. Right? That's
4:43
their business is. They, whatever data we are creating, they take somehow, some way
4:49
ytics or from marketing research firms, they get the data, and they then
4:53
try to target you based on that. Funny thing is not only forget about searching
4:59
Remember when you search something on Google, next an hour later you go to any website
5:06
you start seeing ads for same products, right? So what's wrong with this picture
5:13
And they keep showing you again and again and again and every day
5:18
Right? So what happens is our brain, and scientists say that, I'm not a scientist
5:23
that if you keep seeing same thing again and again and again
5:28
you keep hearing same thing again and again and again, your brain starts believing that, that is a fact
5:36
Same thing, okay, so what they, so imagine if you have a disease
5:40
and you start seeing this new drug, which may or may not work on you
5:49
Funny story. You know, I went from India to US, and in the US, first time I saw that on TV they show ads for medicines, the drugs
6:03
They'll say, oh, you didn't sleep good last night, you must have blah, blah, blah, talk to your doctor about this drug
6:13
Well, maybe I didn't sleep good because I ate too much nana and dal
6:17
So they keep showing that again and again and every day. So out of a sudden you're like, okay, I'm going to doctor
6:25
Like doctor, I can't sleep. Did you heard about that drug? Guess what
6:29
Doctor is getting paid like, yes, yes, yes. We have free trial here. Why don't you to try this one
6:35
So in the U.S., I'm amazed how many drugs people take. A healthy people, if you are 45 or over
6:44
average they take six to eight ten pills every day that's what business is that's why
6:51
this big pharma that's what they make money so one of the reason to resolve
6:58
solve these problems is imagine when you're creating a content in a new world
7:03
called web 3 you first of all you you can allow or you don't have to allow say yes
7:10
let I'm creating this data I'm participating this study companies can use it but you will also get paid for that not just reward you'll get
7:21
paid for that so that's exactly what this creator's economy is whoever is
7:26
creating the content they participate they now can get be rewarded so the future is almost coming where all of you who wants to participate in content creation they will be getting rewarded for that
7:39
And that's what Shell was talking about, is that we are also participating
7:43
So there's many companies are creating these tokens that in different industries
7:48
So when Shell said, you know, talking about that token sharp, token sharp platform
7:54
our idea is on C sharp corner, or platform, anybody who's creating content, right now they are doing for free. We are like
8:03
LinkedIn. Think of us like LinkedIn and Medium and LinkedIn medium combined. So people
8:09
anything, they're contributing, if you're answering a forum question, if you are posting a video
8:15
imagine you start getting paid for that in tokens. And over time, you keep doing that
8:22
you're going to start earning that. And token is going to be traded publicly, obviously
8:26
so you can either sell or do whatever with it. And we also have idea to bring this to multiple companies
8:34
So the same token can you apply to different platforms and different companies
8:40
So with that said, now I will give you, I want to make sure I have a little background in that shell
8:45
So now you can go ahead, please continue. Yeah, perfect. I'll try to wrap it up
8:51
So was that clear in terms of what we're providing in terms of, what we're providing in terms of
8:56
of the infrastructure, right? So then that's fine. Usually companies, they would build something
9:06
and then say, we built it, we're proud of it because we're developers and we're architects
9:12
and we know what we're doing. Here, use it. I don't know about you eight out of 10, it doesn't work
9:20
Because you haven't done design thinking. You haven't talked to the users about how it's going to be
9:26
be used and do you like red color, do you like blue, do you like this feature, do you like that
9:33
So co-creating a product is the new busword in any industry. And that means that we are talking to you, we're asking you to respond to the survey to say
9:45
hey, do you like it, do you not? So during this past week we went to a couple of universities and got feedback from them as well
9:54
What are you looking for as a student if you were to onboard as a gig worker? Right
10:00
So with most of you here, we also ask for your feedback. So for us, it's valuable
10:05
It helps shape the product. Does that make sense? So in your future, don't build anything that you think you know better than the user. Okay
10:17
So that's our approach. So we're super happy to be working with the C-sharp Corner community in Co-Shrap
10:24
creating and you in terms of creating next generation community economy. Make sense
10:33
So I think that's basically it. So what we have is you've seen our booth
10:40
If you haven't, it's out there, come and talk to us. But we put together a one-minute video to help introduce the concept to you, right
10:51
So you can get an idea of what we're thinking. So we'll probably play it here today
10:56
If not, we can go to our booth and then I can talk more about it
11:01
But to me, the biggest factor is the gamification. And that's frankly one of the features we've gotten most positive feedback on is
11:11
okay, just make it a little bit of fun, right? Getting NFTs for certifications and for submitting code, great, as awesome
11:22
but man make it a little bit of fun so that's what we're gonna try with that so I'll leave it at that and
11:31
move on to the next some Q&A yeah we have a new panelist
11:40
yeah we have new panelists maybe a Pitum is going to introduce himself so everybody knows and then we can open it to Q&A so we want to Q&A so we want to
11:52
you guys any questions you have around anything today at the conference web 3 or anything
11:57
just let's open up for questions okay hi everyone so I am Preetam I'm founder of
12:05
Quill Audit so we are a web 3 focus cyber security company okay and I think you
12:10
guys just were at my session so why we need web 3 security right so we are
12:15
discussing very interesting cool ideas on MetaWarts on NFT on creative economy
12:20
right so these ideas are very cool And there is need of these ideas to move from decentralized platforms like Facebook and Google to build some metaverse applications
12:31
But the need of Web 3 security or is very much important
12:36
So why it is important and why these Web 2 hackers are moving into from Web 2 to Web 3
12:43
Because in Web 2 if I'm going to hack any platforms, I can get any data out of it, maybe imagine data or Flipcard or Zumato data, right
12:50
But in Web 3, I can hack or I can break any smart contracts and I can get away with millions of dollars, right
12:59
That's why these Web3 hackers are, you know, breaking the smart contracts
13:04
That's why with cool products, with cool ideas, there is need of Web3 security also
13:11
Great. You want to – anybody ask – one-ask questions? Anybody has questions about anything
13:18
Yes, there's a question back there. Okay, I will go there. Yeah
13:32
Hello, hi. You know, one of the fundamentals of all blockchain, I think, from Bitcoin to ETH
13:42
we have been talking a lot about the kind of impact that it creates to the environment
13:46
I'm talking about the net. emission. I want to understand how sharp works from that perspective because clearly you guys are
13:53
early into the game none of your products have been launched. So I feel that, you know, along
13:58
with scalability, if we also look at becoming a little more environment friendly, that'll be great
14:04
I mean, that's one of the suggestions that I've already put on the form, but I'd love to hear
14:09
a little more about that from the post. Do you want me to repeat the question
14:20
Yeah, yeah, okay. Environment, okay, got it. Yeah. You're talking about the blockchain, some of the blockchains having problem effect on the environment
14:32
That's correct. I'm talking about the net emission. Yep. Yep. I want to know what sharp stake is on that
14:39
Are we moving in the direction? Are we not moving? Yes. Are we expecting any sort of a great, what is it like
14:44
Yeah, so again, you know how, I don't know if you were in the text panel. the tax panel similar to the tax panel how there's misconception about the
14:51
taxing same thing is with the with emissions and the it's just there only two or
14:57
three blockchain they are the one there maybe a few more including Bitcoin they are proof of work and if you understand proof of work that means to earn the reward in the mining
15:11
the computer has to run and solve a puzzle. But majority of the blockchains are there, they are proof of stake or similar algorithms
15:20
And what does that mean? As long as you have balance in the account on your node, you're fine
15:25
There's no emission. There's no harm to the planet. you still have to run the computer but they're very minimal you can even you know
15:35
stake these tokens on a on a blackberry or those I mean raspberry pie and very
15:40
small devices so there's no definitely there's it's all also I don't look at
15:46
the blockchains like Algarand it's strata's they're all proof of stake and
15:50
they there's no harm in that that answer your question all right
15:58
Any more questions? You're going to talk any questions about tax? Yes
16:06
Heschel, I have a question for you. I want to ask, how do you plan on keeping the currency floating inside the website
16:13
instead of everyone just redeeming it into the real currency and causing a possible loss
16:18
So within the platform, what's the plan for you keep the currency
16:23
or the token circulating within the platform and partners? Partners. Yeah. Okay, thank you for the question
16:32
So the idea that we have is that it's going to be a marketplace of multiple communities
16:40
brands, and gig workers, right? So our first implementation is for C-sharp Corner, a global community of 30 million software
16:52
developers, right, with 3.5 million that are registered. So that's our first implementation
16:59
So you will earn tokens, you will spend tokens. You will earn it if you submit code, and you will spend it if you want to interview with Apple or Google or something along those lines
17:13
Then, thank you. So then, so these, remember in the first couple of minutes, I talked about the applications, right
17:24
That's what this is. And then over here is, I'm trying to address your question is
17:32
this is the marketplace for multiple brands, just like Shopify. C-sharp Corner is our go-to-market partner
17:41
And then we have additional brands. As of right now, we are in a very fortunate situation to have close to 100 million users overall
17:53
behind the brands that have agreed to use the Sharp platform. Does that make sense
18:00
So if you're, yeah, so here it is. So initially, C-sharp Corner is the first go-to-market partner
18:10
Then we have multiple segments because we're building infrastructure. So for us, it's not just community, right
18:18
It is anyone that wants to tokenize their environment and their user base
18:25
So, for example, GoPure, which is out here, right? They're providing nutritional products, healthy, good for you
18:38
I'm going nuts over GoPure. It's amazing. So that's one e-commerce provider that will offer the token
18:47
So if you earn them on C sharp corner, you could spend it on Go Pure Nuts
18:55
Does that make sense? Okay. All right. Next question. Yes, right here
19:10
Sorry. So what are the major disadvantages of very? Web 3 according to you
19:19
Disadventage of? Web 3. The user experience. I mean, I don't know about you
19:26
It sucks. Yes, it does. I mean, honestly, I think we have some work to do
19:34
And personally, I'm from a user experience background. And not that it matters, matters
19:41
but I won awards from Apple, Wall Street Journal, myself and my team
19:46
and my team and we are laser focused on user experience. Are we going to solve it next month
19:53
No. Are we going to solve it next year? I hope we can start addressing it, right
19:59
So what does that mean? For me, the test is can I ask my uncle or mom
20:08
Hey mom, can you take a look and she's going to go, I don't know, what the heck is this
20:12
Well, if I have to instruct someone to do it, then it's to do it
20:16
complicated in my opinion and then the challenge is also the regulatory
20:22
environment in India you guys were here for the previous session same in US
20:27
it's like what's going to happen to it so that's kind of like the bigger
20:31
picture but user experience for me is not fixed so I think we have some work to
20:39
do between 2.0 and 3.0 I call it 2.5 let's get to 2.5 first
20:46
Does that help? Yeah, thank you. Thank you. So as we know that the current revenue model of major companies is basically
20:56
add revenue that they get from our data only, right? So we are saying in Web 3.0, that won't happen
21:04
Our data would be ours and it would be in our control
21:08
So how are companies going to be earning money then? Well, let me give you an example, if that's okay, from the healthcare industry
21:20
Yeah. Right? So today, I think Mahers touched on it, I'm a white old male
21:29
Okay? Let's say I have a hard problem. I'm taking medicine and a pharmaceutical company, let's say Johnson and Johnson
21:38
Does that work? Is that a good name? Johnson and Johnson, they know everything about me because they sell me that medicine
21:45
So they know my name, they all, they know everything about me
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And they abuse that data. They will say, oh, we know Shell is taking that medicine
21:55
Maybe we should charge him two times as much in insurance premium
21:59
Maybe he should pay more when he goes to the doctor because they know I need help
22:04
So that's what's happening today. Completely abuse. That's why their profits are in the billions
22:11
So when you say, how are they going to make money? money I'm sorry they're already making more than an economical profit just like oil
22:21
companies and some energy companies in general so tomorrow okay thank you
22:28
my size so tomorrow right let say that Johnson and Johnson is looking to do a clinical trial for people like me with my heart condition Let say I can decide do I really want to participate in that trial or not
22:49
And I may say, you know what, I'll give you my name and the name of my medicine
22:53
And they may say, okay, we'll help you with your health care and we help you give you good care for the trial
23:01
But if I say, you know what, I'll give you everything about me, and Johnson and Johnson may say, that's amazing, we're going to give you all the care you want, we're going to send a nurse to your house, and we're going to do everything
23:15
So that's how you can leverage your information. Does that help? Yeah, that makes sense
23:21
Yeah. Oops, sorry. Am I supposed to do it now? All right
23:28
No, that's all right. Here, it's pretty easy. All right, question. Yes
23:45
I just want to ask the basic difference between Metaverse and Web 3
23:50
and according to you, what is the future of Metaverse in SHAR platform
23:55
Okay, the difference. Great question. It is just a t-shirt. Thank you so much
24:05
Metaverse is a component of Web 3. So if you remember the applications of Web 3
24:14
tokens, NFTs, right? Metaverse to me is where you will enter the Web 3 economy
24:23
and maybe spend and earn most of your tokens, like a game, right? Play to earn, right
24:30
So learn and earn. To me, it's not quite there yet, right
24:37
I'm a member of the sandbox. I bought land a year and a half ago
24:42
To me, it's a game plus. It's not really Metaverse. The experience that I have within Oculus Quest
24:51
to me, that's kind of like the Metaverse. Except I can only do it at home in my bedroom
24:55
because I don't want to leave. I need this much space to use it
25:00
So I'm super excited to see what Apple comes up with because they're focused on augmented reality
25:08
And then in terms of how would it apply to C-sharp Corner, I think if I'm a developer, say, in Brazil, for me to go to this conference, that's going to be a long trip
25:24
Okay, but can we invite 50 million users to C Sharp Corner Conference
25:33
2003 live and in the Metaverse? Maybe, right? So I think that's the short version of how we might
25:42
Yeah, and good. And a couple of other things, for example, like trainings, right
25:47
So we are already going to launch these virtual trainings. Where rather than you doing a Zoom meeting and all
25:53
you can be in rooms, different kind of rooms. What if you like to learn programming on a beach
26:01
Then you pick your settings and you are on a beach learning. What if you want to go in your village and with your family photos
26:08
where you can hang out and just watch there? You can do that. So we are going to build these custom assets
26:14
personalization based on your settings. So then you can enjoy the virtual environments
26:21
This is, it's too early to tell you. exactly how it's going to work but these are some of things in our roadmap
26:29
for Pritham yeah yeah oh go ahead please can you pretham you have how will you
26:39
implement cyber security in Metaverse again great question okay so it's not
26:46
about cyber security in Metaverse indirectly cyber security is you are making
26:51
show you can say in Metaverse you're building smart contracts you're building
26:56
API's you're building some virtual assets and everything right so maybe you are
27:00
like using the NFTs right so these products or these tools should be
27:05
secured like there should be no bugs in in that right so we are making so these
27:10
NFT smart contracts or a DFI smart contracts or if user identity smart
27:14
contacts or DAO products the smart contracts are written in a way there is there is no
27:18
bugs there's no backdoors involved in it and there must be some authorizing in that case yes yes let's take last question because we were running behind the
27:30
time let's take one more question then there's a tea break quick before our next
27:35
panel is start a very good good afternoon sir first yeah so my question is
27:41
what are the important traits of Metaverse important traits traits traits with properties attributes okay characteristics okay okay
27:51
So, like, so as we discuss, Metaverse is a part of a Web 3, right
27:56
So in Web 3 ecosystem, we are having NFTs, the virtual reality headsets and everything, right
28:02
So for, according to me, what should be the best trait of a Metaverse
28:06
It should not be more like a Web 2, more not should be more centralized, right
28:12
If I am playing any game in Metaverse or I'm using any game, it should be more Web3 focus
28:19
Like if the tokens, the tokenomics should be in a proper, design way, the user should be getting tokens for any playing game or any, like just assume I'm building any Instagram or you know YouTube app on on decentralized platform like Web 3, right? So I should be getting the tokenics would be in a very efficient way. That is a very interesting use case of at tokenomics. Yeah. Thank you. Can I add a little bit to it? So think digital collectibles. What is that? To me, that's everything that you can digital
28:51
whether it's a song, you can create an NFT out of a song
28:56
When Snoop Dog launched his latest album in the first week using regular distribution, meaning radio, TV
29:08
right, to play his song, he earned $7 million. In the sandbox, in four hours, he collected $28 million
29:18
of people that were there visiting, buying, renting his songs. That's pretty amazing
29:26
So think collectibles, songs, images, I don't know, maybe a picture of this session right here
29:34
Okay, who knows? I may want to buy it and keep it in my virtual closet
29:41
where I have, so Nike has actually implemented a great way of keeping all your digital collectibles
29:48
your shoe collection, fashion, et cetera. Yeah, and I think Nike on that, Nike also sold real shoes with the collectibles, right
29:56
That makes sense. To me, that makes sense, not the dogs and monkeys and cats
30:01
So with that said, guys, thank you our panelists. Thanks to me also, and thanks to you
30:07
Enjoy the conference
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