Showing posts with label Fintech Valley Vizag. Show all posts
Showing posts with label Fintech Valley Vizag. Show all posts

Andhra Police Ordered Hotels To Deploy Blockchain-Based AI Solution Developed By Local Startup

If you're a blockchain tech enthusiast then you must be knowing that at the start of this month, a Visakhapatnam aka Vizag-based startup Zebi Data India (Zebi) was in the news turning its name into brand in every corner of the country. The startup made into news for developing its flagship blockchain-based Artificial Intelligence (AI) solution for hospitality industry. The secure and tamper-proof product called Zebi AI Chain do not only protect the guest data of the hotel, but also help police officials to identify and prevent criminal activities.

Now in a further development in same, police in Andhra Pradesh have ordered hotels and inns to deploy the blockchain security solution developed by Zebi.

According to a Medium blog post published by Zebi this Friday, the startup's product Zebi AI Chain merges blockchain and artificial intelligence (AI) to securely store data about hotel guests, and aims to both bring convenience to customers and to help prevent criminal activities.

According the startup's Medium post, Dr Fakeerappa Kaginelli, IPS, Deputy Commissioner of Police, said, “We made it mandatory for all the hotels under Vizag (Visakhapatnam) city limits to use Zebi AI Chain”

“We are able to get the visitor details from all the hotels to our police control room in real time. This data will be compared with the police database to ascertain whether the guest has any criminal background”, the IPS added.

The data collected is compared with the police database of criminals, missing persons and so on to ascertain whether the guest has any criminal background.

According to Indian laws, personal identification data of hotel guests has to be reported to the police department on a daily basis in the interest of national security. And, up till now, the data transfer between the hotels and law enforcement agencies has been done manually, by carrying paper-based documents. This is where 'Zebi AI Chain' breaks the ice and making this whole cumbersome process easier, faster as well as secure, at the same time.

Dr Kaginelli, the IPS, also revealed to Coindesk that, "All hotels are directed to enter their check-in particulars on real-time basis without fail and they are adhering too ... 230 hotels are entering their guest particulars through this tech web page."

“The communication with the police department has been hassle free after implementing the application provided by Zebi. Previously, the police used to visit us on a regular basis for enquiring about the status of tourists, now it is not necessary!” said, Nagesh Kumar Venkata Asst. Front Office Manager at The Park, Vizag.

Additionally, in its upcoming plans, Zebi is also preparing for "full-scale deployment across all the hotels in India."

It is also to be noted that Andhra government has also partnered Zebi for dealing with land records. The state government has so far secured more than 1,00,000 land records through Zebi Data.

Andhra Pradesh - India's Most Pro-Blockchain State



Chandrababu Naidu-led Andhra is fast becoming the Blockchain Hub of India by bringing blockchain technology into the mainstream.

In a blockchain business conference held last year, Naidu said, “I want to make Visakhapatnam not only India’s capital for FinTech or blockchain technologies, it will be centre of excellence for the global community.”

Few days back, New York-based blockchain startup Consensys, which is founded by Joseph Lubin, who is the co-founder of the Ethereum, has signed a nonbinding agreement with Niti Aayog, a govt. of India's policy think tank, to make blockchain prototypes across healthcare, education, land registry, supply chain, and more.

Last October, the state became the first state in the India to pilot blockchain technology in two departments - land records and transport. The state launched pilot projects based on blockchain technology for land records and transport.

In July last year, Andhra Pradesh became the first state government outside the US to join the Enterprise Ethereum Alliance (EEA), an Ethereum-based alliance formed in March this year by Microsoft, Intel and more than two dozen other companies/banks to develop standards and technology to make it easier for enterprises to use blockchain code Ethereum.

[Top Image- Firstpost.com]

Andhra Police Ordered Hotels To Deploy Blockchain-Based AI Solution Developed By Local Startup

If you're a blockchain tech enthusiast then you must be knowing that at the start of this month, a Visakhapatnam aka Vizag-based startup Zebi Data India (Zebi) was in the news turning its name into brand in every corner of the country. The startup made into news for developing its flagship blockchain-based Artificial Intelligence (AI) solution for hospitality industry. The secure and tamper-proof product called Zebi AI Chain do not only protect the guest data of the hotel, but also help police officials to identify and prevent criminal activities.

Now in a further development in same, police in Andhra Pradesh have ordered hotels and inns to deploy the blockchain security solution developed by Zebi.

According to a Medium blog post published by Zebi this Friday, the startup's product Zebi AI Chain merges blockchain and artificial intelligence (AI) to securely store data about hotel guests, and aims to both bring convenience to customers and to help prevent criminal activities.

According the startup's Medium post, Dr Fakeerappa Kaginelli, IPS, Deputy Commissioner of Police, said, “We made it mandatory for all the hotels under Vizag (Visakhapatnam) city limits to use Zebi AI Chain”

“We are able to get the visitor details from all the hotels to our police control room in real time. This data will be compared with the police database to ascertain whether the guest has any criminal background”, the IPS added.

The data collected is compared with the police database of criminals, missing persons and so on to ascertain whether the guest has any criminal background.

According to Indian laws, personal identification data of hotel guests has to be reported to the police department on a daily basis in the interest of national security. And, up till now, the data transfer between the hotels and law enforcement agencies has been done manually, by carrying paper-based documents. This is where 'Zebi AI Chain' breaks the ice and making this whole cumbersome process easier, faster as well as secure, at the same time.

Dr Kaginelli, the IPS, also revealed to Coindesk that, "All hotels are directed to enter their check-in particulars on real-time basis without fail and they are adhering too ... 230 hotels are entering their guest particulars through this tech web page."

“The communication with the police department has been hassle free after implementing the application provided by Zebi. Previously, the police used to visit us on a regular basis for enquiring about the status of tourists, now it is not necessary!” said, Nagesh Kumar Venkata Asst. Front Office Manager at The Park, Vizag.

Additionally, in its upcoming plans, Zebi is also preparing for "full-scale deployment across all the hotels in India."

It is also to be noted that Andhra government has also partnered Zebi for dealing with land records. The state government has so far secured more than 1,00,000 land records through Zebi Data.

Andhra Pradesh - India's Most Pro-Blockchain State



Chandrababu Naidu-led Andhra is fast becoming the Blockchain Hub of India by bringing blockchain technology into the mainstream.

In a blockchain business conference held last year, Naidu said, “I want to make Visakhapatnam not only India’s capital for FinTech or blockchain technologies, it will be centre of excellence for the global community.”

Few days back, New York-based blockchain startup Consensys, which is founded by Joseph Lubin, who is the co-founder of the Ethereum, has signed a nonbinding agreement with Niti Aayog, a govt. of India's policy think tank, to make blockchain prototypes across healthcare, education, land registry, supply chain, and more.

Last October, the state became the first state in the India to pilot blockchain technology in two departments - land records and transport. The state launched pilot projects based on blockchain technology for land records and transport.

In July last year, Andhra Pradesh became the first state government outside the US to join the Enterprise Ethereum Alliance (EEA), an Ethereum-based alliance formed in March this year by Microsoft, Intel and more than two dozen other companies/banks to develop standards and technology to make it easier for enterprises to use blockchain code Ethereum.

[Top Image- Firstpost.com]

Fintech Valley Vizag Launches Accelerator Program For Tech Startups

A sustainable global Fintech ecosystem, Fintech Valley Vizag has launched the Fintech Valley Accelerator Program for tech startups in India. The Vizag has launched this program to develop a high potential fintech ecosystem focused on co-creating innovative solutions to address the evolving needs of India’s dynamic financial services landscape.

The accelerator program is in collaboration with ICICI Bank and Mahindra Finance as corporate partners and Microsoft as the technology & acceleration partner.

Commenting on the development, J A Chowdhary, Special Chief Secretary & IT Advisor to the Chief Minister- Government of Andhra Pradesh said, “The Government of Andhra Pradesh and Fintech Valley Vizag are committed to developing Fintech Valley Vizag as the epicentre to converge finance and technology and thereby create a high potential global fintech ecosystem and catalyse the sector’s growth in India. The accelerator program aims to act as a catalyst in the growth of startups by connecting them to the leading Fintech ecosystem players. We are excited to have partners like ICICI Bank, Mahindra Finance and Microsoft who have always leveraged technology by pioneering digital innovations to provide world-class banking experience to their customers.”

This four-month residential program will provide selected fintech startups an opportunity to grow their development through a combination of support, guidance, and training.

The first cohort of the accelerator program will have a group of selected finalists working to develop solutions for four key focus areas- financial inclusion, security, and fraud prevention and customer and risk analytics. The selection process for the accelerator program has commenced and will finalize 10-12 startups by mid-September. The first cohort will commence in the first week of October.

The program promoted by the government will further support the selected startups by providing access to technology resources, mentoring on fund raising, legal guidance, market access to over a million of customers from partner financial institutions amongst many other initiatives to speed up the process of scaling their businesses.

The selected participants of the accelerator program will also receive a financial incentive of Rs 4 lakhs to provide for any operational exigencies during the four-month duration.

Apart from this, ICICI Bank and Mahindra Finance will provide business mentorship to the selected fintech startups and explore partnerships with them by implementing their solutions in their ecosystem. Whereas Microsoft will provide technology and business mentorship to the selected startups and access to Microsoft products and services under its Bizspark program.

The program will conclude with a grand demo day in January 2018, in the presence of corporates, mentors and investors from across the world.

The AP Government is leaving no stone unturned to make AP the digital state in India. Andhra Pradesh’s new startup initiative, Fintech Valley Vizag, a flagship initiative is intends to bring together industry, academia, and investors to innovate, co-create, and build the fintech ecosystem, with the intent of making Visakhapatnam the fintech epicentre of the world.

Chowdary is hopeful that they will be able to create as many successful fintech startups as they can through their initiatives. He believes that India is a technology hub and is currently in a golden era where it has a lot of untapped opportunities to capitalize.

World’s Largest Fintech Hub LATTICE80 Expands Into India

World’s largest FinTech Hub, LATTICE80 has set its eyes on the burgeoning startup ecosystem in India. Marvelstone Group, which is the private investment group behind LATTICE80, has recently entered into a memorandum of understanding (MoU) with the Andhra Pradesh government to open the first LATTICE80 office outside of Singapore.

Singapore-based Marvelstone is a renowned private investment group that specialises in developing investment strategies and invests in businesses that have a potential of becoming big in the future. While the group might have finance at its core, but it also boosts of having diversified investments in hospitality, media, real estate, trading and technology.

According to the MoU locked between the two parties, LATTICE80 Vizag will be located in Fintech Valley Vizag’s Fintech Tower. For the uninitiated, Vizag, which is the largest city in the state of Andhra Pradesh, is famous for housing some of India’s most innovative startups in the Fintech space.

LATTICE80 will also be taking on the responsibility of organising programs to train 1,000 Indian Information and Communication Technology (ICT) professionals every year. The main goal behind the association is to provide a platform for the community in Singapore and India to come together and drive co-innovation in new technologies such as Big Data, flexible platforms (API), digital and mobile payments, blockchain and distributed ledgers, and many more.

LATTICE80 is known for creating an ecosystem for FinTech startups to collaborate, connect and co-create. The mission of the independent not for profit hub is to offer FinTech companies the opportunity to tap on the rich network and resources to develop smart technologies and springboard to international success. It boasts an impressive technological infrastructure that corporate members can leverage and lay a foundation to create a truly unique world-class community.

Speaking at the Spring Conference 2017 in Andhra Pradesh, Gina Heng, CEO, Marvelstone Group, said, “Less than four months ago, in November last year, we set up LATTICE80 in Singapore to fully support the government’s smart nation vision to transform into a smart financial center. Now, we are happy to be part of the new Vizag-MAS partnership to support Fintech Valley Vizag and the Government of Andhra Pradesh in India. The goal is to bring together industry, academia, and investors to innovate, co-create and build the fintech ecosystem."

According to the Singapore-based fintech hub, India’s Fintech market is forecast to be worth US$2.4 billion by the year 2020, a figure which is a two-fold increase on the market size in 2016.

Commenting on the MoU, Joe Seunghyun Cho, Chairman, Marvelstone Group said, “We see opportunities in Vizag to contribute in various ways. We are delighted to collaborate and launch LATTICE80 Vizag to benefit the fintech sector in India. By launching LATTICE80 Vizag, we want to facilitate knowledge sharing and establish partnerships between universities based in and affiliated to Singapore and Andhra Pradesh."

According to J A Chowdary, special adviser to the Andhra Pradesh Chief Minister on IT, the MoU signed with Marvelstone Group isn't an effort towards just promoting Fintech ecosystem in the country, but a step towards encouraging and developing a whole Fintech culture of its own.

The hub in India is expected to open in Q3 this year.

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