28th September, 2018: The Executive Education department at KSBL organized a training session on “Introduction to Blockchain & its Applications”, conducted by Dr. Zeeshan-ul-Hassan Usmani for the busy C-Level executives, inclined towards exploring the hidden world of this latest technology.
The session started with the introduction of guest speaker Dr. Zeeshan-ul-Hassan Usmani with his achievements. Then he gave a brief overview on the advent of Blockchain technology in contrast with the history of money and life.
Later on Dr. Zeeshan-ul-Hassan shared that although bitcoins and other cryptocurrencies are still confined to the small set of transactions and are associated with the underground economy, the evolving blockchain technology is gaining currency in the financial world, entering into global and local market. He further shed light on the advantages of Blockchain and importance of crypto currencies.
While giving a brief overview about the entire mechanism of blockchain, Dr Zeeshan Usmani highlighted that blockchain is a ledger system that processes and stores the digital information, form of crypto currencies to loan agreements. As all documents are tracked by blockchain, this technology is hard to tamper with. There are financial firms today that see it as the most convenient mode of payment and transactions that are much more transparent and auditable. He also conducted a mining challenge among the participants in which they had to guess numbers, to gain hypothetical rewards.
While discussing the complexities of cryptocurrencies and this latest technology he highlighted that in the current scenario the problems with Blockchain are the development tools, off chain solutions (database), interoperability and in some cases security. He also talked about transparency and its attribute to lower the cost for many consumer cash transfers, with the efficient and timely results.
The event ended with an interactive question and answers session. The responses from the audience were overwhelmingly positive. All the participants learnt the basic skills on this wonderful technology and this was only made possible with Dr. Zeeshan Usmani’s efforts.
Dr Zeeshan Ahmed (Dean, KSBL) later presented the chief guest with the memento and certificates were also distributed to the participants.