International Management Institute (IMI) Kolkata hosted a one-day tech event as a part of the Bharat Blockchain Yatra (BBY) on 18 August 2023. The event featured speeches, panel discussions and workshops aimed at narrating India’s Blockchain Story and shifting focus from hype to value creation.
The Bharat Blockchain Yatra is organised by Information Data Systems (IDS), powered by Hedera and supported by the All India Council for Technical Education (AICTE) and the Ministry of Education, Government of India. It is a tech tour comprising 25 events focused on Web3 and Blockchain, across 18 states in the country.
Speaking with Edugraph, Aravind Voruganti, Global Vice-President of IDS, said, “In the last 3-4 years we saw a lot of hyped cases around blockchain like cryptos, metaverse, NFTs, etc. (Now) people see it falling, but it is not. Based on our market research, it is (undergoing) correction. Whenever a new technology comes, there is hype around it and inflated expectations on top of it, but when awareness happens, people start realising its actual utility. That is the phase in which the Global blockchain ecosystem is in.”
The announcement of the virtual IMI Kolkata campus in Polyversity Source: Edugraph
Voruganti heads the Polyversity Metaverse project, where IMI Kolkata has been allocated 4.1 acres of digital space. “Polyversity by IDS is an educational metaverse where universities will have their virtual campuses which students can access to have immersive learning experiences. As we saw with the advent of online education Learning Management Systems (LMS) and ed-tech companies, one of the biggest challenges faced is the retention of students. The industry average of students completing online programmes is 10%,” he explained, a barrier that Polyversity aims to overcome. “In virtual reality (VR), we can also set up labs, creating 3D digital twins of real-world equipment and students’ avatars can have a personalised engagement.”
The event at IMI Kolkata was the third in Bharat Blockchain Yatra, which kicked off in Telangana on 6 August 2023. Citing a Gartner Inc. report which stated that mass adoption of blockchain will happen in 2025, Voruganti expressed that was the reason behind organising the events in colleges and b-schools. “Only when the undergrads and business leaders-in-making understand the tech, would they be ready to build the future.”
Sunil Yadavalli of IDS stated that Bharat Blockchain Yatra will be producing a Blockchain ecosystem report featuring all the blockchain companies in India zone-wise, and how they are utilising blockchain to solve local and business problems. The report will not be patented or licensed, and publicly available. Bharat Blockchain Yatra will also be providing prizes and grants of up to 250,000 USD each for three selected enterprises and startups to be built on Hedera.