October 17, 2023
In this exclusive interview, NFT Correspondent Anjali Kochhar talks to Om Malviya, president at Tezos India, on the future of blockchain and Web3, regulations governing blockchain and the TEZASIA Hackathon 2023, amongst others.
Q: Please tell us how you got introduced to the world of Web3?
A: After completing my engineering from Delhi Technological University, I founded itsblockchain – one of India’s biggest crypto and blockchain media platforms. I published a research paper in an IEEE journal about Bitcoin scalability solutions, and have been a Draper Fellow from the prestigious Draper University, California. Back in my college years in 2015, my elder brother, who is an entrepreneur and engineer by profession, told me to check out Bitcoin and blockchain technology. Ever since there has been no looking back.
As the Founder and President of Tezos India, my work encompasses, but is not limited to, defining a budget, hiring for key roles, defining strategy, streamlining internal organisational processes, and using my network to get business development leads to onboard startups, companies, and other organisations to Tezos.
Q: What is the objective of Tezos India and how successful it has been so far?
A: Tezos India is a non-profit organisation focussed on boosting the adoption of Tezos blockchain in India. Tezos India is working on multiple tracks to build a strong community of blockchain developers and empower them with highly advanced Tezos tools.
Tezos India is now a 75,000+ strong community. Our mission is to cultivate blockchain talent and provide support at every level to bring out the best in the developer communities across India and Asia. Blockchain technology is making headway into the most established industries by revolutionising supply chain management, banking infrastructure, identity management, and asset tokenization among others.
Tezos India’s mission is to enable a smooth transition from Web2 to Web3 through sustainable innovation. Tezos India is simultaneously working towards a greener future by promoting a proof of stake model which is highly energy efficient and consumes 99% less energy and proof of work mechanism.
Tezos India is actively involved in providing mentorship and funding support to budding entrepreneurs to create a blockchain-driven startup ecosystem across Asia.
Q: What is the future of blockchain in India and globally?
A: The future of blockchain is extremely bright due to its wider applications and its ability to increase efficiency across businesses. However, regulatory clarity and framework for blockchain will play a critical role in its widespread adoption.
We are already witnessing a lot of government-led institutions embracing blockchain for a sustainable future. We have seen state governments in Telangana, Uttar Pradesh, and Karnataka among others, deploying blockchain technology to deliver citizen services and welfare schemes.
At a global level, software giants like Microsoft are also entering the blockchain space to leverage the combined strength of AI and Blockchain.
Blockchain has also emerged as a measure to secure electoral voting in India. Applying blockchain technology to the voting process in one of the largest democracies in the world will be the biggest case for its mass adoption.
Q: What are your expectations from the regulators in India, can healthy regulations help Tezos India’s mission?
A: The regulations for blockchain are highly heterogeneous currently with some countries openly embracing the technology while some countries are cautious about its implications.
I feel India can lead the world in the blockchain revolution. India being a tech superpower is comfortably placed to drive innovation in this space and can serve as a global hub for blockchain-based products and services.
We remain highly optimistic that Indian authorities will accommodate the aspirations of the blockchain industry by providing a growth-oriented and business-friendly environment.
Q: How does the educating the community works, is it blockchain tech development or building platforms using blockchain?
A: At Tezos India, we conduct various workshops and hackathons which enables the developer community to enhance their skills and gain access to live projects. We have conducted more than 100 hackathons in India and there are currently more than 6000 developers creating the future on Tezos Blockchain.
Tezos India has created strategic partnerships with leading organizations like Microsoft Century Program, Kalamint, and Figment to expand the reach of blockchain technology.
Tezos India’s partnership with Plenty is aimed at driving the adoption of the Tezos DeFi ecosystem.
Tezos India’s Shecrypt initiative is committed to empowering women in crypto, celebrating their accomplishments, and educating women on the options available to them. Tezos India has made a concerted effort to educate and empower women programmers, as well as to assist them in establishing a successful career path.
We have also launched Tezos clubs and student chapters at various universities, where we guide students on how to build on blockchain.
Q: Tell us about the success of the latest edition of TEZASIA Hackathon 2023? What are the key learnings from it?
A: TEZASIA Hackathon is our annual dose of adrenalin. TEZASIA allows us to feel the pulse of blockchain innovation in Asia.
TEZASIA Hackathon 2023 witnessed participation from over 14,000 developers and 1000+ ideas submissions which gave us a glimpse of a bright decentralised future.
We selected 9 projects for the final pitch and the winners will be eligible for exciting grants and mentorship support from our esteemed panel of judges.
Our key learnings are as follows:
- Blockchain adoption in Asia is growing rapidly
- The developer community in India is capable of building world-class Web3 projects
- Female participation is up by 43% as compared to last year which shows a growing number of female developers in India
- Projects focussed on DeFi, NFTs and collectibles, Gaming, wallets, and Web3 integration are the most popular among developers
- TEZASIA Hackathon popularity is growing beyond Asia to countries like Australia, Brazil, and Mali.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.