Nikhil Kulkarni

Permanent deletion of transactions can help make e-rupee anonymous says Shaktikanta Das. How this will be enabled in DLT based CBDC implementation ? CBDC systems can incorporate anonymous transaction features, ensuring that individual transaction details, such as the sender, recipient, and transaction amount, are not directly linked to personal identities. This can be achieved through techniques like zero-knowledge proofs, ring signatures, or blind signatures. There are multiple possible solution to bring anonymity in digital currency transactions :- - If Hyperledger Fabric DLT then features like Purge history of private data.  feature enables purging the history of private data from a peer while preserving a hash of the private data as immutable evidence on the blockchain. Also feature like archiving block data can be used to archive data which is not required. - ecash2.0 : Cryptographic mechanics of eCash 2.0 allow central banks to issue those coins to a user without knowing which user exactly owns specific coins. The eCash 2.0 model has two tiers when it comes to issuing central bank digital money: a central bank does it via commercial banks, which onboard users. To get some CBDC on their digital wallets, users need to request it from banks with which they already have accounts Swiss National Bank,Digital Pound Foundation and Bank for International Settlements – BIS has piloted anonymity in CBDC transactions based on ecash2.0. https://lnkd.in/dZXtNK3U https://lnkd.in/dpdNGUv9 - Adding Privacy enhancing techniques like Rotating public keys, Zero knowledge proof and enclave computing. Ref. https://lnkd.in/dCay65UG Read my previous newsletter on "The Future of Money: Privacy-preserving CBDC" -https://lnkd.in/dgEWwQiZ #cbdc #privacy #anonymous #digitalcurrency #ecash2.0 FSV Capital Prasanna Lohar Currency Network Ltd Digital Currency Group Bank for International Settlements – BIS Richard Turrin Animesh Ghosh Reserve Bank of India (RBI) https://lnkd.in/dqFjBjGW

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Commercial message traceability using blockchain Telecom Regulatory Authority of India(TRAI) . This traceability mandate to curb spam and scam messages to prevent cybercrime. With effect from Dec 11, any traffic messages where the chain of telemarketers is not defined or doesn’t not match with the pre-defined chain shall be rejected. In India 1.5-1.7 billion commercial messages are sent every day. This is huge scale of blockchain implementation in India. #blockchain #telecom #india #scalability #hyperledgerfabric

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Real Time Angel Fund Marks Third Close at Rs. 299 Crores Real Time Angel Fund, a SEBI Registered Fund, specializing in early-stage innovative startups recently inform SEBI about its third closing of Maiden fund at Rs. 299 crores. This significant milestone underscores the strong investor confidence in the fund’s strategy and management team. Since its inception, Real Time Angel Fund has been committed to support early-stage startups with high growth potential across various sectors. With this latest closing, the fund has further strengthened its position as a key player in India’s startup ecosystem. The fund’s second closing was at Rs 125 crores in April 2023, it has grown exponentially since then. Real Time Angel Fund has a track record of investing in innovative startups across a wide range of industries, till date RTAF has invested in over 40 startups. These investments reflect RTAF’s vision and dedication to empowering entrepreneurs and driving innovation across various sectors. Read the full article here - https://lnkd.in/gBuiECdE Realtime (RTAF) Fluid Ventures Kshitij Kulshreshtha Amit Singal Puneet Madaan Pranay Mathur #realtime #realtimeangelfund #startupnewsfyi

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𝐇𝐨𝐰 𝐂𝐚𝐧 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬 𝐏𝐢𝐭𝐜𝐡 𝐭𝐨 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬? As per a recent Inc42 Media research, the Indian fintech sector is poised to grow up to $2.1 Trillion by 2030 at a CAGR of 18% pa. No wonder, we see hectic investment and M&A activities in this sector. Pitching to investors is a critical skill for fintech founders, so besides the general pointers available on internet I would like to share some personal insights on key aspects to be kept in mind when you hit funding 💰 💡button: 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐚𝐟𝐟𝐚𝐢𝐫𝐬 🏛 : India is amongst the most regulated fintech markets. So, besides regulators  like RBI, SEBI,IRDA ; we also have certain state level laws, regulations .Recently RBI has cracked down on fintechs. It has also come out with a Self Regulated Organisation (SRO) framework for fintechs. Hence, it is always advisable to have clean set of business operations and books as later on despite having a compelling business model & pitch; investors are most likely to avoid you in case of regulatory red marks. 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲 𝐢𝐧 𝐟𝐨𝐮𝐧𝐝𝐢𝐧𝐠 𝐭𝐞𝐚𝐦👥: Many times fintech founders get either only finance or only tech co-founders. A lack of diversity in team expertise can again be a big issue. I have personally seen multiple cases where the startups despite having expert founders in one of domains ran into challenges with not only investors but also procuring licenses from regulators like RBI. So it is highly recommended that you get experts co-founders, mentors and board members . This not only demonstrates team capability but is a great risk mitigation measure. 𝐇𝐨𝐧𝐞𝐬𝐭𝐲 & 𝐂𝐚𝐧𝐝𝐨𝐮𝐫 😇 : While pitching to investors, a candid and honest approach is not just a best practice; it is also a strategic advantage. No need to gloss over facts, accept shortcomings & work upon them. It will build trust, facilitate realistic assessments, and foster a strong, long-term relationship. Unfortunately in past few years we have had cases of founders using wrong representation, deceitful means to cover up their shortcomings and raise funds. This upon discovery not only ended their careers & put their companies in jeopardy but also affected the entire ecosystem. To conclude; building a successful pitch is a combination of thorough preparation, regulatory compliances, diverse team , clear communication, and a compelling story. Do Feel free to share your experiences and views in the comments ! Ref: https://shorturl.at/qPDof #Fintech #Startups #Investors #Pitching #Entrepreneurship LinkedIn News India

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Gurugram-based wealth management startup Centricity has raised $20 million in a seed funding round led by Lightspeed. The round saw participation from several prominent investors, including Paramark VC, Burman Family Office, Shantanu Agarwal, MS Dhoni Family Office, NB Ventures, and other family offices. The round values the startup at $125 million, a significant jump from its previous $20 million valuation during a pre-seed round in 2022. Read the full story here: 👇 https://lnkd.in/d4WVxE_N #funding #wealthtech #startup #investors #management #indianstartupnews

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Govt business is the best business , govt is 40-50% partner in each enterprise even if you make loss as start up and Private business ! NCPI, CSC, are most profitable organisations , while they are tasked to do financial inclusion, imagine VC funded and listed companies payment companesies are not allowed to make money out of UPI and UPI brings profits to govt ! Debatable .. which is public and which is private for profit business ?

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Startup Central | ThinKuvate: Bolstering tech-enabled startups Addison Appu, Partner at ThinKuvate, sheds light on the latest ₹100 cr fund, 'glocal' approach, key sectors in focus and more Avanne Dubash Addison Appu

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UPI coming full circle with “UPI Circle “ delegated payment mechanism for the family and Household expenses it’s time each Indian has UPI account to meet their daily needs .. huge opportunity for fintechs to build products on this ! UPI will hit 500 users with 2-3 times of that as circle ⭕️ users , ONDC, UPI circle would make India proving that they can build Amazon with best payment method covering lowest economic and small expenses needs for Indians ! UPI best tool for financial inclusion creating financial translations behaviour digital footprints for possible credit inclusion at next level ! Way to go UPI - India 🇮🇳

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Will CBDC become a double-edge sword for India? With UPI as strong digital faster payment system is challenging CBDC adoption as users , banks are not finding right use cases , value of their ROI on CBDC infrastructure. Other countries don’t have faster payment system like UPI so there is need to retail CBDC but India UPI is challenging the adoption. What possible solution for adoption: 1. Incentives to users , banks for building on CBDC 2. There are many use cases in pCBDC( programable CBDC) but for that banks need to innovate and involve startups to think beyond traditional use cases. 3. Central bank should focus on developing right business model, UPI subsidy reduction, increasing CBDC incentives and focus on other use cases in wholesale CBDC. 4. Integration with existing payment systems, banking systems with CBDC infra #blockchain #cbdc #digitalcurrency #upi #usecases Prasanna Lohar FSV Capital FSV Labs Atlantic Association of CBDCs CBDC Read more at: https://lnkd.in/dJXuqfiy

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AppsForBharat Secures $18M Series B Funding to Expand Devotional Tech Platform! AppsForBharat, the company behind India's devotional app Sri Mandir, has raised $18 million in a Series B funding round led by Nandan Nilekani’s Fundamentum. This funding round also saw participation from Susquehanna Asia VC and existing investors like Elevation Capital, Peak XV Partners, and Mirae Asset Global Investments VC. The funds will be used to expand Sri Mandir’s operations across India and internationally. The company plans to onboard new temples, launch additional services, and build a tech stack that can digitize the devotional ecosystem. Prashant Sachan, founder of AppsForBharat and IIT Bombay alum, shared that the platform currently has over 50 temples, and the goal is to increase this ten-fold in the next 12 to 18 months. The app allows users to book poojas, access a library of spiritual content, and consult astrologers and priests. Since its launch in 2020, AppsForBharat has seen impressive growth. Over the past year, 5 lakh devotees have completed 27 lakh pujas through the Sri Mandir app, which has been downloaded over 30 million times. The devotional sector in India is estimated to be a $50 billion market, and the company believes 15% of this market will be digitized within the next 4-5 years. Ashish Kumar, co-founder of Fundamentum, stated that AppsForBharat is well-positioned to capture a significant share of this growing market. Notably, E-Cell IIT Bombay alums, Prateek Jajodia, Prerna Chhaparwal, and Atharwa Gade, have been a part of AppsForBharat's journey, contributing to its growth and success. In the coming years, the company aims to introduce spiritual tourism, facilitate Darshan ticket bookings, and offer Prasad delivery services. They also plan to expand into key international markets like the USA, UK, and Canada, while making the app available in five new regional languages. #fundingnews #appsforbharat #srotechnology #digitaltransformation #devotionalplatform #smandir #seriesbfunding #spiritualtechnology #templeservices #indianstartups #ecell #iitbombay

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TFM presents Fin-Idea exploration meetup closed-door brainstorming session focused on what's new in fintech & can be built? Date: Dec 07th (Saturday) Time: 10 AM onwards Location: Delhi NCR (exact location will be shared with selected folks only) Participant profiles (& restrict to 10-12 participants): - BFSI professionals (leaving their current roles), - Seasoned ex founders, looking to re-start As we are approaching the end of 2024, one question we’re hearing more frequently is: 'What’s new on the FinTech front (actual fintech-fintech)? & while looking back at this year, I’d say 2024 has been a year for secured/ mortgage lending and majority deals happened in that domain. This initiative is designed to bring right mix of folks - BFSI Professionals, seasoned ex-founders and thought leaders in one room, with the shared passion for creating the next big fintech idea. Stay tuned for insights and highlights from this gathering — we believe it’s going to be a game-changer! Please fill form here (if you qualify above criteria): https://lnkd.in/gUrvP3CF #finTech #fintechyatra #innovation #brainstormingsession

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Netherlands based location consultant BCI Global has listed #Kolkata and #Trivandrum among the 24 'Out of the Box' global locations for Software related investment. --------------------------------- "Kolkata, West Bengal (Northeast India) has a large labor pool, English speaking skills, attractive cost levels and lower labor market competition compared to other popular Indian cities. Traditionally, West Bengal was less business oriented, but in 2022 it was identified as the easiest state in which to do business in India, and multinational companies are currently building up their presence there. Also in India, but all the way south in the tropical region, is Trivandrum. The state of Kerala was also not known for its business orientation. However, the city has 1.7 million inhabitants, a nice climate, a relatively good quality of life (especially for Indian standards), acceptable risks and very attractive cost levels. The first software and support centers (from Nissan and Allianz) are entering the market." Source: https://lnkd.in/dhVMJe_g

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#Update Titan Capital, founded by Snapdeal | AceVector Group co-founders, has raised INR 200 crore for its new fund. This fund will invest in promising startups from Titan Capital's seed portfolio. The goal is to provide these startups with the necessary capital to continue their growth and success. The fund has attracted a diverse group of investors, including family offices, CEOs, and venture capital firms. Titan Capital aims to support the founders of these startups and help them build category-defining companies. Read the story: https://ow.ly/NbxC50T3ERF Rohit Bansal and Kunal Bahl #TitanCapital #StartupFunding #VentureCapital #SeedInvestment #FounderSupport #StartupSuccess #Entrepreneurship #BusinessGrowth #InvestmentNews #TechStartups

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India’s startup ecosystem has experienced unprecedented growth in recent years !! As the 3rd largest startup hub globally, we're projected to have the world’s largest working-age population by 2030 with over 60% of its population falling within the 15 - 59 age group !! So are you eager to hop on the bandwagon of the next big thing in Startup investing? Well, let me tell you why now is the perfect time to dive in & why India should be your next investment destination.... 1. Booming Startup Ecosystem - India's startup ecosystem is absolutely on fire, with innovative companies shaking up various industries & attracting global attention like moths to a flame !! 2. Tech Hub - From FinTech to EdTech, India is at the cutting edge of technological innovation, offering lucrative investment opportunities in these red-hot sectors that are the talk of the town !! 3. Massive Market Potential - With a staggering population of over 1.4 billion & a rapidly growing middle class, India presents a vast, untapped market for startups to scale & succeed like never before !! 4. Government Support - India's government has rolled out the red carpet for entrepreneurs with favorable policies & initiatives, making it an attractive environment for investors to park their money !! 5. Talent Pool - India boasts a highly skilled workforce & a thriving community of entrepreneurs, providing startups with the talent they need to thrive and make their mark. 6. Global Recognition - Indian startups are gaining global recognition & attracting investments from top venture capitalists, signaling the immense potential of the market & the excitement it's generating worldwide !! What is it in store for you ?? I'm building a dynamic network of savvy investors - individuals eager to be at the forefront of innovation & wealth creation !! Here are few critical reasons to join my network apart from the fact that you can create wealth... 1)Build your Personal Brand & Influence in this rapidly evolving landscape 2) Be part of a collaborative group of entrepreneurial minds 3) Potential to generate revenue by mentoring the companies you invest in 4) Most importantly the ability to choose opportunities aligned with your passions Imagine being part of this group, where connections flourish, wealth grows exponentially, you stay ahead of the curve & have the chance to do something you truly love !! I currently have some revolutionary opportunities. Let's connect & explore how we can elevate each other to new heights. Please DM #StartupInvesting #IndiaOpportunity #InvestmentNetworking Video Courtesy: Zero2One YouTube

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#FundingWithYS 💰 💼 Company: ClaimBuddy 💰 Funding: $5 million ⚡ Round: Series A 👥 Investors: Bharat Innovation Fund, CAC Capital, Chiratae Ventures and Rebright Partners. The Gurugram-based startup plans to use the funds to advance its technology, expand its team and sales network, and add new product lines for its growing network of hospitals. Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy aims to find a seamless solution in the healthcare-financing space by addressing the challenges faced by patients and hospitals in the health insurance claim process. Read more at the link in our comments section 👇 by Debolina Biswas | #Funding #Startups

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Tokenization and blockchain are at the core of Finternet, offering a seamless, user-centric experience across all asset types. Nilekani dubs it the "three U's" of finance: user-centric, unified, and universal. EkStep Foundation Centre for Digital Public Infrastructure - CDPI Pramod Varma Prasanna Lohar #digitalassets #blockchain #tokens #finance

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One of the largest DLT/ blockchain based implementations in India . 1.5-1.7 billion commercial messages sent every day in India. All the major telco providers and Telecom Regulatory Authority of India(TRAI) implemented blockchain(hyperledger fabric) based solutions for white listing of messages using smart contracts templates. TRAI has been taking several initiatives to curb misuse of headers and content templates for ensuring a more secure , transparent and efficient telecom ecosystem. Why this important to share here because main stream print media cover in India. The Economic Times #blockchain #dlt #telecom #india Rajesh Dhuddu LF Decentralized Trust LF Decentralized Trust India Chapter Tech Mahindra

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BEYOND THE HEADLINES – There is no boring Fintech week. Three key highlights: ·     The network effects of Digital Public Infrastructures - DPIs ·     The growth opportunities from modularizing Fintech stacks ·     The increased buy-in of Stablecoins as a medium of exchange 📍 ONDC - Open Network for Digital Commerce – is the less-known DPI of the Indian Stack. It was launched last year for businesses and has already been used to enable  50 million transactions. The Beckn Protocol powers up the ONDC interface which allows access to a diverse marketplace. The Beckn Protocol has already become a verb in the tech world. "Just Beckn it!" is the new lingo amongst developers when discussing open-source solutions for digital commerce. In 2024, 60% of sellers on ONDC were #SMEs and their online sales increased by 40% since joining the network. 📍Stripe`s mission has been to grow the GDP of the internet. With 50+ announcements this past week at Stripe Sessions, I am forced to pick just ONE. `Deconstructing Stripe`s services` is especially relevant and valuable for large clients (e.g. Duolingo, Adobe, etc.). They will be able to use Stripe`s Optimized Checkout Suite, Stripe Billing, and Stripe Radar with all of the different payment processing providers that may be using. 📍 Stablecoins are here to stay. S&P has launched a Stablecoin Stability assessment tool at the end of last year and now Visa launched a new stablecoin analytics website in partnership with Allium Labs. The open question is what will VISA choose to do next in the Stablecoin space? Will VISA issue its own stablecoin? Will VISA  launch a stablecoin issuance platform? Will VISA also offer multi-chain wallet services connected to the stablecoin issuance platform? 𝑰'𝒅 𝒍𝒐𝒗𝒆 𝒕𝒐 𝒉𝒆𝒂𝒓 from you: Which would be your one highlight from the 50+ Stripe announcements? Are you still in doubt about Stablecoin adoption? What do you think VISA will do next? #fintech #stablecoins #payments #DPI #India #efiinsights 𝑫𝒓𝒐𝒑 𝒚𝒐𝒖𝒓 𝒕𝒉𝒐𝒖𝒈𝒉𝒕𝒔 𝒊𝒏 𝒕𝒉𝒆 𝒄𝒐𝒎𝒎𝒆𝒏𝒕𝒔 𝒃𝒆𝒍𝒐𝒘! 𝑆𝑎𝑣𝑒 𝑡ℎ𝑖𝑠 𝑝𝑜𝑠𝑡 𝑡𝑜 𝑟𝑒𝑎𝑑 𝑖𝑛 𝑑𝑒𝑡𝑎𝑖𝑙 𝑎𝑛𝑑 𝑒𝑛𝑔𝑎𝑔𝑒 𝑙𝑎𝑡𝑒𝑟, 𝑖𝑓 𝑦𝑜𝑢 𝑑𝑜𝑛’𝑡 ℎ𝑎𝑣𝑒 𝑡𝑖𝑚𝑒 𝑛𝑜𝑤.

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