Bhubaneswar: XSYS- The Systems Association of XIMB organized its annual national level IS conclave ENVISION’19 today.

The objective of the conclave was to offer a forum for discussion on the theme “Blockchain in Digital Economy“.

The conclave was inaugurated by Mr Sunil Nair, CTO, Spar India – Landmark Group, Mr Ravinder Pal Singh, Chief Innovation and Information Officer, Tata Singapore Airlines (Vistara), and Professor Sanjay Mohapatra.

Mr Nair talked about the importance of out-of-the-box thinking capability and application of new disruptive technologies in day to day life. He also focused his discussion on the relevance of blockchain to the customers and the return on investment of application of such new technologies. He highlighted the definition of omnichannel groups on their ability to connect with customers.

Mr Ravinder emphasized how technology like Bitcoin can bring true disruption in public services. He suggested that Bitcoin can revolutionize our experience of a political election – an individual’s mobile phone can act as a node and make conventional processes like a physical electoral booth, obsolete. Addressing the cost aspect of transactions, Mr Singh explained how Bitcoin makes business sense from a computational cost perspective. He elaborated on the importance of “Speed of Trade” which is a direct outcome of Bitcoin. Mr Singh explained how when the speed of trade increases, everyone in the economy gains – customers do well which results in markets doing well, thereby leading to countries doing well. He posited two attributes that could be the story of the potential success of Bitcoin: Memory and Storage. Mr Singh spoke about the role of Bitcoin in Digital Economy and discussed how Bitcoin might be one of the crucial pillars of Digital Economy. The students took this opportunity to interact with the panelists and got insightful cues to carve their way to be the leaders of tomorrow influencing change.

The winners of National Level Article Writing Competition X-ITE were awarded recognition at the conclave.

The event also witnessed, the inauguration of X-ITE, the magazine by X-SYS by the honorable dignitaries.