In the second episode of our new season of Web3 Innovators, our host Conor Svensson is joined by Bharat Gupta, Senior Principal for Financial Services and Insurance at Infosys, which is a global leader in next-generation digital services and consulting
Bharat is focused on digital strategy for financial services clients covering crypto and blockchain advisory for new business initiatives.
Episode highlights:
- How blockchain as a technology initially sparked Bharat’s interest in the space
- The similarities he saw between mission critical systems and blockchain technology
- Why he became fully involved in 2019 after large organisations showed an interest in the space
- What Bharat believes will happen in the future with the digitisation of financial services
- How digitisation of product can help raise capital and introduce a wider customer base
- What regulation is currently like for financial services
- The scalability issues with the Bitcoin and Ethereum network and how these are being resolved
- How financial services are dealing with transparency and privacy on the network
- Bharat’s advice for anyone wanting to become involved in the space
- The projects Bharat is currently focusing on
Key Takeaways:
So that really intrigued me and then pulled me in completely. If large institutions are looking into this then I think it makes more sense for all of us to look into this space. – Bharat
It was never a thought for financial services that they need to change their product. – Bharat
So this whole new field has opened up for startups to raise capital. And how this is happening is because of that same underlying technology, and that’s what I call digitisation of the product. – Bharat
These networks are not designed for transit. These networks are designed for settlement. So I call it the base layer. Layer one networks are nothing, but it’s a settlement networks. Whatever you need to do on top of it, that is your transaction layer. So the transaction layer has to be very scalable. – Bharat
Now they are building, and I believe that ecosystem will definitely thrive and then scale again, because Bitcoin would not just become a store of value, it will also become a transaction mechanism. – Bharat
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