Fin-tech-Riding on BLOCKCHAIN

Calcutta, India - 9^th Edition of Business IT conclave ‘Fintech-Riding on BLOCKCHAIN’ being held at Hyatt Regency, Calcutta dated on 10-05-2018 organized by The IT Committee of Bengal Chamber of Commerce during one day Conclave.

Speaking on the occasion, Mr. Arnab Basu, Chairperson, IT committee, The Bengal Chamber of Commerce said, ‘Block chain is the key focus of most fin-tech companies and has the potential to make the financial services more efficient, quicker and transparent. This technology provides a decentralized network for its companies and users where information is secured and data transfer can be facilitated with no alterations. As smart contracts come into vogue, this technology can guarantee that individual obligations of both sides are met with prior to a transaction and once agreement is complete”.

Fin-tech is a combination of financial and digital technology that provides financial and banking services. There has been substantial scaling up of day to day banking, online investing and trading, mobile payment modes in e-commerce platforms, online money exchange, equity funding and personal finance applications that permits users to access all financial options with mere internet access that earlier was reserved for a selected range of people of a specific economic statics. The block chain technology is very pertinent and the need of the hour as it creates complete records makes copies that is stored in many computers and prevents records from being tampered or altered. In case of money remittance the block chain system has speeded up payment processing.

The GOVT. of India has been quick to understand the benefits of using block chain technology in good governance. Andhra Pradesh has set-up a block chain center for excellence. The West Bengal Govt. has a major focus on developing the Fin-TECH and block chain in both public and private sectors.

The inaugural session on the conclave will have key speakers viz. Shri Debashis Sen, IAS, Additional Chief Secretary, Department of Information Technology & Electronics, Govt. of West Bengal & Chairman and Managing Director , Housing Infrastructure Development Corporation LTD. and Chairman Nabadiganta Industrial Township Authority, Mr. Bhaskar Pramanik, Ex- Chairman , Microsoft India and Member of the Board, SBI, Mr. Ambarish Dasgupta, Former President, The Bengal Chamber of Commerce and Industry and Advisor to IT& E Department, Govt. OF West Bengal, Mr. CS Ghosh, Preseident , The Bengal Chamber of commerce and Industry, MD of Bandhan Bank.

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