9 Oct, 2019

2017 Was The Year of Blockchain, Digital Currency: Akash Ambani

Reliance Jio in collaboration with CISCO organized India Digital Open Summit on Friday in Mumbai. The session included a wide range of topics such as Artificial Intelligence (AI), open source, the impact of data consumption in India, to name a few.

The programme kicked off with President of Reliance Jio Infocomm Limited taking the dais to say,”Welcome to the age of disruptive transformation. India witnessed the launch of Jio and becoming the fastest Greenfield operator to acquire more than 100M customers in 6 months.”

He was succeeded by Aruna Sundararajan,Chairman, Telecom Commission & Secretary (Telecom), Dept of Telecommunication who said, “India today can truly say it has the capabilities to emerge as a digital leader globally.” She added that We are moving towards an era from 3G to 4G to 5G.

“5G was the perfect opportunity to embrace open source and this open source networking summit truly defined the role of digital India,” she said.

After her, Akash Ambani, the elder son of Mukesh Ambani took to stage and elucidated the importance of open source technology. He said, “Open source is very important for Jio, being both, a contributor and utilizing it for our business needs.” He added that 2017 was truly the year of blockchain and digital currency. Blockchain provides a distributed ledger system for enabling secure transactions. One of the fundamental features was bitcoin but it can be used in other fields such as banking, education IoT, real estate, etc.

Elaborating on the theme of open source and artificial intelligence he said, “At Jio we believe AR/VR will grow at 50% CAGR for next 5 years. This platform is a great opportunity to network and hear how India should adopt innovation and open source.”

The conference also brought to light just how wide-spread the Internet consumption in India, after Jio’s launch. Sameer Garde, the president of CISCO said, “Out of 150 crore GB per month, 100 crore GB of data is by Jio.”

Echoing his sentiments, Dr. Gulshan Rai, National Cyber Security Coordinator, Prime Minister’s Office said, “The traffic going outside the country is much more than the traffic coming inside the country.”

Even though simple data consumption is not along the lines of open source, it is eye-opening to hear that nearly every Indian is connected to the Internet, across the economic spectrum.