Bitcoin- The first ever form of cryptocurrency developed by Satoshi Nakamoto has caused quite a stir in the recent times. And although it has been through a roller coaster, analysts say that Bitcoin is in fact, here to stay.So what is it that makes people trust this form of money exchange so much, despite it not being legal tender?Bitcoins have no physical form. They are purchased online and stored in something known as the 'Bitcoin Wallet'.Investing in bitcoins, transactions or something known as 'mining' are ways to multiply bitcoins. People also get rewarded for purchasing and sending bitcoins, thus multiplying their money.The factor most strongly in favor of bitcoins is the security this medium provides. There is both transparency and user anonymity. The user has two keys- a public key and a private key. While the public key ensures that all transactions are out in the open for verification, the private key is only present with the user. Personal details of the individual aren't required to carry out the transaction, only the private key is.The transactions can be verified by anyone in the block chain but the identity of the person is concealed. These bitcoins can also be encrypted for backup and safety.Bitcoins work on a peer-to-peer based transaction without the presence of a third party. The lack of an intermediary ensures a faster exchange of money. The hassles of paperwork and the long waiting hours are saved. It also means that there is no chance of random freezing, as is done by the banks.There is also very little transaction charge in such a medium of exchange. It is approximately 0.0005 bitcoins per transaction as opposed to the usual 3-5% interest charge by banks. Digital currency exchanges convert bitcoins to fiat money and they too, charge a negligible rate.Decentralisation of bitcoins is another reason for their popularity. This past year has been a whirl with demonetization validating and invalidating notes constantly. There is no such risk with bitcoins since the government has no control over it and cannot order it's manufacture or seizure.So whether or not bitcoins are here to stay is a matter for experts to decide, but it definitely seems to have become the favorite of many. And let's hope for the sake of all those who have placed their faith in bitcoins that it does, indeed live up to the expectations that it's been setting.
Blockchain is a new technology for performing transactions, often compared to the Internet which revolutionized the way one shares/sees Information. It was first conceptualized by an anonymous person or group of person known as Satoshi Nakamoto in 2008. A Blockchain, in the simplest definition, is a ledger of transaction from the time of its genesis. Transaction is any transfer of a tangible/non-tangible asset within the people associated with that Blockchain. Bitcoin is just one of the many application whose core technology is Blockchain.In most of the transaction, there are three parties involved: the sender, the receiver, and the trusted verifier whose role is to verify that the transaction has actually taken place. For instance, one transfer money via bank through cheque, by money wallet; or one lease out a property after performing certain kind of paperwork implying Government as a trusted authority. A Blockchain removes the necessity for a third party to verify the transaction. This also implies that the Blockchain is robust to fraudster and fraudulent transactions.A Blockchain, visually or programmatically, is nothing but a chain of blocks where each block is a set of transactions. Every block contains information such as current timestamp, a link to the previous block and the next block, a collection of valid transactions during the time period between the formation of previous block and current block. Its network consist of working nodes called miners, whose main work is to create new blocks. These new blocks are joined in a single, continuous, authorative record called Block Chain. Whenever a new transaction takes place, it then propagates to the peers of the originating node and so on, till it exists with the whole network. Now the miners’ job is to validate the transaction and create the block by collecting a set of transactions. Creating a block is computationally expensive cryptographically challenging task. Once such a new block is created it is added to the chain and is then transferred back to the whole network. The other receiving nodes in the network adds the block to the existing ledger after validating the block. If one were to alter any transaction in a fraudulent way which had already taken place, they would have to find a new block that would include that transaction to fit the chain. If the current block to be computed in the network is at number 88, and the altered transaction block was 79, then the person will have to find 9 (79-87) more blocks to make a valid blockchain and pass it to the peer network. This is theoretically possible but is not in real world since finding block is not an easy task, making blockchain an ever increasing, irreversible, secure and public ledgerBitcoin, a very popular digital currency, relies on Blockchain. Applications of Blockchain is not limited to digital currency, it can be used to create smart contracts that execute on fulfilling a certain criteria (ex. Ethereum), for instantaneous peer-to-peer transaction without third parties (ex. In stock trading, property trading, patents), etcTo conclude, Block Chain is a distributed ledger of important transactions stored on a decentralized peer-to-peer network which is incorruptible due to high computation costs of blocks making it irreversible creating a trustworthy network to transact removing the need of middleman.
Adult (A) : Say there are two kids in the world. You and your friend. Noone else exists.Kid (K): Ok.A: You produce apples and your friend produces oranges. Since you love oranges and your friend love apples, you make a deal that every month your friend will give you 100 oranges in return for 100 apples. This is called barter system - you give me some goods or services and your friend pays you back in terms of goods and services. This practices remained for some time until there was some natural calamity in your area and you failed to produce sufficient apples for a month. But you wanted oranges. You went to your friend's place and asked for oranges.K: But why would he give me anything, when he knew that I couldn't keep my promises.A: Correct. So he made a deal. He gave you some paper, which had some agreement that you would pay him back oranges that he was lending to you. The agreement was made with the assumption that, you were an honest guy and you would keep your promises and when you had apples, you would return him back. Exchange of goods in this format gave birth to a new concept called "Money". In economic terms, it is called 'Fiat economy'- where goods are exchanged for something which cannot have a direct utility. Money has utility only when it is exchanged. Until now you had the need for oranges only. But say, you desired for pineapple, strawberries etc. and there are few more players in the market who are exchanging those fruits by issuing different paper notes. This kind of practice gives rise to the 'global currencies' where the value of each currency is different from rest of the world.C: But won't the value of each currency be same in a fair world?A: Yes, in an ideal world, the value of each currency or fiat money should be same. But here comes the complex scenario which is driven by power and greed. Every player in the market wants to get more by paying less. So your apple might not be as appealing to someone as it appeals to other and you end up paying more apples for same goods and services you get from others. C: Why would I pay more when I can get it at a fair price from someone else?A: The fair price is driven by market perception about certain goods and services. Since more players are in the market, more perception prevails. Good, bad and ugly are differentiated by perceptions only.C: Who controls perceptions?A: Good question. The dominant and powerful player in the market controls the perception. By influencing others he will make others realize that his goods or services are better than others and hence demand more value in return.C: But tell me how USD influenced the market to be the dominant player and hence more powerful in the currency market.A: Before world war I, every country was trying to influence other countries to become the dominant player in the market. During that time, Theodore Roosevelt influenced the neighboring countries to follow USD as foreign exchange currency rather than gold, which was used until that period of time. Some notable examples can be read in the history of Cuba, Venezuela, Santo Domingo and panama. America had been engaged in producing arms by that time and was supplying to foreign countries including united kingdom.During world war 1, America gave some good number of arms to United Kingdom, who was under financial crisis and was dependent upon its' ruling countries like India and some south-east Asian countries to generate sufficient money to afford luxury the Britishers were accustomed to. During the financial crisis of world war I, United Kingdom took arms from US trough a negotiation or deal known as Liberty Bond, which amounted to over $20 billon, which would be much more than what is America's current national economy at the moment.C: You mean UK was knowing they cannot pay back the loan, but they were still keen on taking the arms from US to fight against other countries and in that case Americans were keen on giving some loans which they were confident that it could not be repaid.A: Power to control others and the greed to have more are biggest vices of the human being. The then political strategists of America were thinking much beyond their time - at least 50 years ahead of time. UK sooner became an ally in America's endeavor to have USD as global currency post world war II. But acceptance by few countries does not make a currency truly global.C: What happened next?A: After world war II, America was perceived as the super power of the world. Thanks to some scientist who could not visualize the impact of atom bomb before inventing them. Every country was agreeing to a global bank known as World Bank and fund of funds known as International monetary fund. The duty of both entities were to ensure fair market practices in the globe. However influence of US continued and they changed the exchange methods from gold transactions to US dollar. There were a lot of factors which were either manipulated or done strategically to get it done.C: I understand dollar became global currency, but why it became more powerful than Indian rupees.A: Once you have the control of global currency, you can manipulate that in your favor. I will go back to that apple and orange examples. Now that your apple is purchased by US, who has certain criteria of selection of apples to know the fair price of apples. After careful observations, it is declared that your 100 apples are actually 50 apples worth as per US standard. You have two choices - either you don't sell apple or sell in the different market. Say in such scenarios, you don't have the sufficiently big market to sell your apples and you know that if you fail to sell in US, you might lose more money. You don't bargain much and accept the negotiations done by them. When everyone started accepting the terms defined by them, the power of dollar became more. I hope that answers your question.C: Can it never be reversed. I mean INR becomes more powerful than USD?A: Yes, logically possible, for that India as a country has to think ahead of time and the strategist and policymaker make the country self-dependent and more job opportunity is created internally rather than dependent upon foreign resources. Many of the natural resources are under-utilized in India so as the human capital. If that is oriented in right manner, then time is not far we see the reverse action. India needs to be technologically sound and the education system should teach how to be innovative and creative rather than just compete to score marks. I strongly believe, your generations can do.C: Yes, we will. Thank you for the answer.
On August 12,1997 a loud series of shots rang out outside the Jeeteswar Mahadev Mandir in Mumbai. They were just one in a sequence of warnings about the state of our nation, and yet just as before, we Hindus refuse to wake up and face the truth. The event that occurred outside the Mahadev Mandir in Mumbai that fateful day, was not particularly outstanding when seen in the context of the daily reinforcement of the fact that India is in the hands of Muslim terrorists. The victim on this particular day happened to be a plump, short media baron, known as Gulshan Kumar.Who was Gulshan Kumar, the Cassette King? He started out life as a humble fruit juice seller's son in Old Delhi. He wanted to make it big in Bombay and he did, by cooking up innovative ways to pirate popular music. Super Cassette Industries, his flagship company and its low price high volume strategy ushered in a musical revolution. Pretty soon he had the leader of the pack , HMV India itself, chomping at the bits in order to compete with him. Using all of his fortunes from his music production company in Noida, near Delhi to finance his film production business, Gulshan Kumar soon became the owner of a vast 400 crore rupee empire.. He was the highest tax payer for the financial year 1992-93.It was with his foray into the Indian film industry that Gulshan took his first step into the jaws of the Muslim Mafia network without which Bollywood simply can not exist. For decades the film industry has been the money-spinning machine and media arm of the Islamic Mafia. The Indian film industry serves a twofold purpose for the international Islamic Mafia which is headquartered in UAE and Pakistan . 1) With a turnover of over Rs. 7000 Crore, the Indian film industry has become one of the biggest money making operations for the Islamic Mafia. Although it is not as profitable as drug-trafficking, sale of illegal arms, prostitution rings or counterfeit money, it certainly does help to line the pockets and provides valuable interface to politicians and industrialists who are enamored of the glamour and glitter of Cinema magic. 2) But the real reason why the Indian film industry is so important to the Islamic Mafia, is the fact that it serves as the best possible propaganda tool in a country of over 950 million people. A blatant glorification of Islam and an utterly distorted insulting portrayal of Hinduism are the tools that it uses constantly to affect Indians' psyche and effectively utilize information warfare. Hindu culture is consistently given the mantle of a backward, intolerant, illogical culture, whereas Islamic concepts, ideas, and judgments are given the legitimacy of truth. One of the most successful byproducts of this psychological manipulation has been the corruption of Hindi, via the glorification of Arabicised Urdu words. In popular films and music, Urdu is always used in order to condition the Indian public. In other instances, terrorism which usually stems from Islamic quarters in India , is attributed to Hindu groups in movies! Islamic terrorists are portrayed as martyrs on screen. Islamic ideas are touted as progressive whereas Hindu ideals are dismissed as outdated and illiterate. Urdu is the language of "civilized" sophisticates, Hindi is the language of "Ganwaars" or village idiots. These are just a few examples of the objectives which the control of Bollywood provides to the Islamic Mafia. On August 12, 1997 , nothing appeared to be out of the ordinary as the familiar portly figure of Gulshan Kumar attired in white kurta stepped out of his car in front of the Jeeteswar Mahadev Mandir that fateful day. A simple Thali of offerings for worship of Lord Shiva swayed in his plump hands as he started walking towards the shrine. His devotion to the divine had been steadfast in its earnestness. A huge portion of his wealth had gone into beautifying and enhancing the pilgrimage experience of Vaishno Devi for pious devotees. It was his efforts which had rekindled the sound of early morning Bhajans in Indian households all over the country. Despite the allegations of piracy and fraud, he had focused all his energies into what he viewed as an offering to God. As the assassins pumped his frame with bullets, the last words heard by Gulshan Kumar were:"Bahut ho gayi teri puja, ab upar ja ke aur karo" (You have prayed enough to your idols down here, now go up there and do it.) A chilling reminder of the fact that Islam and the Islamic Mafia will do its best to eliminate any Hindu who dares to reaffirm his faith loud and clear in India . Who were Gulshan Kumar's enemies? What was his crime?The clues to the answer apparently lie with music director Nadeem Saifee. In 1997, Nadeem's solo album Hai Ajnabi bombed. He wanted Gulshan Kumar to finance his next private album. Gulshan Kumar wisely decided that Nadeem was not destined to be a chartbuster and refused outright. An enraged Nadeem who was obviously used to displaying arrogance in lieu of his Islamic godfather's protection started threatening Kumar saying "Have you got a call or not? My "Chahnewaale" (friends) will call you. You don't know who I am."By May 1997, Abdul Qayoom Ansari alias Abu Salem, a 29-year-old Dubai-based member of the Islamic Mafia, who is also known as one of the "arms" of kingpin Dawood Ibrahim, had called up Gulshan Kumar on his mobile and curtly told him to call back at a Dubai mobile number. When Gulshan called the number back, an amount to the tune of 10 Crore Rupees was quoted and Kumar was threatened with dire consequences if he failed to cough up the dough. Kumar, a man who had managed to survive in the Film Industry long enough without giving in to the Islamic Mafia of ISI's underworld dons, refused to pay outright. Even when Abu Salem sent his Mullah terrorists to Gulshan in person, the wary devotee refused to budge an inch. Who is Abu Salem??He is accused number 87 in the Bombay bomb blast case. He was charged with procuring nine AK-56 rifles at the command of Dawood's brother Anees Ibrahim. Mumbai courts issued an arrest warrant against him in 1993 ``for conspiracy to cause explosions with intent to cause death and damage to property.'' If caught and convicted he faces the death penalty. In 1995, Interpol had issued a Red Corner alert for him. In 1997, the UAE government received extradition papers for Salem from the CBI upon request. The first ever trap (which is known as `fielding', in the underworld slang) was laid with the blessing of nadeem and his "godfather" Dawood . The trap for killing Gulshan Kumar was laid between July 15 and 20, while he was shooting for his forthcoming untitled film at the Jasdanwala Bungalow at Aqsa Beach , Malad. Two teams from the gang maintained a watch on his movements but failed to strike either because of the milling crowds around him, or for the fact that he was shielded by his Punjabi bodyguard. When Gulshan Kumar refused Abu Salem's threats of extortion, he was enraged at the "Kafir" Hindu's insolence and ordered the hit. Apart from Kumar's 250-crore annual turnover from Super Cassettes and Music Industries, his religiosity and lavish expenditure for devotional purposes including a `langar' at Vaishnodevi temple, where Rs 5 lakh was spent every month had become eyesores for the Islamic Mafia. Abu Salem had been chosen as the key operational head in Bombay by Dawood himself , due to his incredibly cruel and brutal nature. He was also given charge of handling extortions and hawala transactions on Dawood's behalf. In April, Abu Salem began by calling up top film producers asking them to pay up. About 20 top film personalities were personally contacted by Salem over the span of two months. The figures he quoted as extortion payments were in hundreds of crores. Over 95% of the Movie moguls simply paid and never informed the police. Salem 's men attacked producer-director Rajiv Rai at his Tardeo office, which led Rai to flee to London . He never returned since. Later that April an attempt was made on Subhash Ghai's life which was foiled by alert police. Salem himself had telephoned Subhash Ghai asking him to pay up. The Indian Film Industry was serving its purpose as the money making the machine which churned out Millions of Rupees in liquid assets for Dawood and ISI to create mayhem, death and destruction all over India. Not one moviemaker had the guts to resist, every single one of them was deeply involved in this deep-seated treachery and anti-national activity which killed Indian citizens every day. Was it simply because Gulshan Kumar did not give in to this nefarious plan, that his body lay riddled with bullets in front of the Temple steps in Mumbai that day? Hardly. As the details began trickling in, it became apparent that the plot to kill Gulshan Kumar had been hatched on June 12 at Dubai when a galaxy of Indian stars participated in the opening of a luxury hotel owned by Vivek Goswami a narcotics dealer linked to Chota Rajan another underworld non-resident Indian don. As investigations continued, more rivalries began surfing. Ramesh Taurani - owner of Tips another rival to Super Cassette, was identified as an associate of Dawood Ibrahim's gang. The investigation led the police to interview filmstars Pooja Bhat, Salman Khan and Shravan among others. Bollywood's links with Mumbai's underworld were always known. But the extent of its involvement with the Islamic Mafia became apparent only after Gulshan Kumar's death, a man who was murdered simply because he was a Hindu success story. "When the underworld approaches you, you cannot refuse.", these were the chilling words of Nadeem Saifee, the main accused in the Gulshan Kumar murder case. A month later a casual friend of Gulshan Kumar and writer-director Mukul Anand died unexpectedly of a "heart attack" in his sister's home in Mumbai. Anand had been in the process of making a movie on Kashmir which went against the Islamic Mafia's propaganda plans. The film was being shot in USA on the pretext that the environs resembled those of Kashmir . The reality was quite different. Anand had been threatened and he and several of his associates were frightened enough to go into hiding when they returned to India to raise more money for the movie. A relative of the executive producer was slain by a killer on a motorbike. And then all of a sudden Mukul Anand suffered a surprise "heart attack".What is even more shocking to discover is that EIGHT months before Abu Salem ordered the cold blooded of Gulshan Kumar , the CBI had requested his extradition from the UAE government. However, the request became just another of the 35 others pending with the Government of United Arab Emirates and like the other requests, this too was put on the backburner. The CBI is not too optimistic about getting back any of the members of the Dawood gang, hawala dealers and arms and drugs smugglers who are responsible for the most heinous crimes committed against India .The Arab provision of shelter to these hard core terrorists and criminals provides convincing evidence that the conspiracy to create chaos and panic in India stems from the Islamic world in general. Dawood Ibrahim follows and carries out the directives of Pakistan 's ISI and oil rich Arabs, who take pride in their Islamic fanaticism. It is he and his deputies who mastermind all of the major terrorist attacks and hardcore crimes which take place in India . As the disturbing facts about Gulshan Kumar's murder were unearthed, an incredible pattern of internally linked networks which are sustained by the Islamic Mafia become apparent. The crimes begin with low level extortions and proceed higher up the ladder with the all too willing Indian movie industry, as well as heads of major corporations in India and finally goes all the way up to the politicians who hold the highest positions in the land.The breadth and depth of this net of crime and the virulently anti Indian activities it breeds are spread unimaginably far. The extent of involvement is so deep, that the public knows not even one hundredth of the details of this story.Original Post : Islamic Mafia of Bollywood: Death of Gulshan Kumar#smblogcontest
Indian ElectionElections is basically a decision which is taken by the public to choose an individual to run a district, state or a country. Elections not only help in forming a government but it also helps in private organizations.The election came in practice from the Vedic period. The king used to elect another king from their sons. At that time there was no role of the public in elections. When the country did not get free and there was British rule in India, elections were held at that time also. But when India got independent, Indian public also got an opportunity to participate in the electoral process and to vote his/her choice of an individual. The process of vote transactions is called the election which is used to maintain the status of democracy. These political programs began to establish in the year 1950 and were established in the form of the non-lateral program. In 70’s election were held after every 5 years. The election commission is the main functioning body which conducts and regulates the election. The schedule is also prepared by the election commission. This commission is a constitutional body. It prepares the electoral rolls, voter id cards and makes an election booth where the public can come and vote for their individual. This body keeps an eye on everything happening in a booth so that no discrepancy should occur. It also appoints staff for supervising the election. The commission issues some code of conduct and all the party have to strictly follow certain codes. These code of conduct are basically some guidelines which need to be followed by political parties and candidates. On the day of the election, people used to visit the booth and vote for their candidate either through ballot paper method or electronic method. The voting is done area wise and once the process voting is completed the counting of votes are done in the presence of candidates. The one who gets the largest number of votes is declared elected by the district magistrate.The scenario of Indian election- In India, a person above the age of 18 has the right to vote and play a prominent role in forming a government. The preparation of election starts in advance. Every party finds a way to convince people to vote them by making banners, poster or organizing rallies and meeting people and giving a speech to convince them. Some also try to convince people by going door to door for votes. There is a chief officer is assigned to each and every polling booth who supervise all the arrangements and ensures that voting is done fairly and smoothly. The voting begins in the morning and ends at 5pm. But there are some parties who use unfair means of getting votes. These parties give money to poor people and many more things just for getting votes. They create a political atmosphere. Just because of these guys India is not able to grow. Today everyone wants to be an engineer or a doctor but no one wants to be a politician. In fact, everyone just ignores the politics happening in front of them just by thinking why to dip our hands in this. In my point of view a sweeper is much better than these politicians, at least he dumps in sewage and cleans the dirt of the city.After 70 years of independence also India is said to be a backward country and the reason is public. We are the one encourages corruption and for some money, we give a vote to the wrong party who does not deserve to be elected. We are the one who thinks of ourselves and not about our country and just say that politics has ruined our country. Its neither politics nor corruption it's we who have destroyed our country.In India, there are many ways through which unfair polling is done. Either the politicians bribe the public or they give them warning to give them vote or else they will hurt them or their respective family members. Even these politicians bribe the officials to change the counting of the vote. No one knows how they did but they did it. Constitution of India is the supreme law and this law is been copied by other countries law. Our constitution is a compilation of many countries law and this shows why India is still a developing country. India is a democratic country, we are secular and we must have a separate constitution. If this change is done it might change our country.Apart from this India is captured by reservation also. Even in elections reservation quota is there in which some Lok Sabha seats are allocated to reserved category. In India’s Parliament, there are 543 seats and out of which 84 are reserved for another category. This reservation is now misused by the politicians for their vote bank. The politicians have an added advantage over this category for their vote bank. They support a reserved category to get some votes. This nuisance is supported by them just for a vote. Reservation is a painkiller. Instead of killing the problem, nipping it in the bud, they hide the symptom and harm the body in the long run. Reservations by design, cannot help those who are genuinely oppressed, but only those who are incompetent.Importance of voting-Voting is important because it gives the right to a common person to choose his or her ruler. The public gets an indirect control over the functioning of government and they also have the power to raise a voice against unfair meansVoting is our right and we all should actively participate in the election and only then we’ll have good governance.Today India is also on his knees and it needs someone to who can run this country properly.If we all can come together and fight for GST then we all can also fight for corruption. First, we need to change ourselves then only we can change the world. Instead of promoting Swachh Bharat Abhiyan first we should look inside ourselves and become a Swachh person then only India can become Swachh.
StoryMirror interviewed ThirdWatch and all about their venture. Here is what they have to say.Q. Tell us about yourself and your backgroundThirdWatch is about stopping fraud in digital transactions. We are avid e-commerce shoppers and has been shopping online since 2005 indiaplaza days when we used to order books online. Couple of years back I was trying to order TV for my Dad who lives in Greater Noida on one of the top 2 e-commerce sites of India however it was not taking the order despite being prepaid. When I ordered the same item to my Gurgaon address it came through. On digging deeper we found that fraud/abuse is a big problem in e-commerce and companies sometimes use broad rules like blocking certain pin codes/cities/states and/or international credit from ordering which affect genuine users part from fraudulent.Given our experience in building big data mobile analytics system we felt confident that we can solve this problem by using Ai and big data hence started ThirdWatch in April 2016.Q. What's is your business all about?Our platform Mitra prevents fraud in digital, banking and e-commerce transactions in real time using AI. Our system captures 200+ parameters and flag every transaction in real time as red or green. It generates a risk score also which defines riskiness of the transaction.By superimposing data from our own knowledge base and from third party databases we enhance the data captured from user transaction like zip code databases , ip address databases, mobile number validity databases. We also use micro models for address profiling, device signature, account profiling and velocity profiling. We capture the whole user behavior including the time taken to place order, the device user is using to order, ip address of user, location of order amongst others.We are very stringent on data security and sign a strong NDA with our clients however we do use networks effects to multiply effectiveness of our platform by collating fraud patterns across the client base and inputting values in our ML algorithm for e.g. fraud rate of email domain, fraud rate or zip code, area and many more.Q. How do you see yourself in next 5 years? In near future we would expand to South East Asia, in long term we will expand into preventing other financial frauds including Insurance and fintech fraud.Q. Message to your customers and viewersFor every customer, Thirdwatch has always been a profit centre and never a cost centre. E-Commerce companies can avail a free 2 months trial, and can actually validate the benefit we are offering themselves.Q. Which are your main clients? What is the process of integrations? How successful have you been in controlling such fradulent cases in India for these companies?Traction has been phenomenal since we launched, We are currently processing about 5000 transactions per day with a pipeline to reach 50000 transactions per day. Because of our NDA’s and agreements with our client we will not be disclosing clients list, but we are working with two of the top10 E-commerce Companies of India Q. What is the background of the founders? How big is the team?Adarsh Jain (36) and Shashank Agarwal (28) came up with the idea of ThirdWatch and utilising Artificial Technology to prevent fraud in the e-commerce domain. A few years ago, Adarsh tried to buy a Television set from a leading e-commerce website from his father’s residential address in Noida. The order was unsuccessful due to the location from which it was ordered. The same order could be processed, however, from his Gurgaon address. The problem intrigued Adarsh and he started to research and find the root of this problem. He got to know about the problem e-commerce sellers face, relating to fraud and abuse by fraudulent sellers. Shashank and Adarsh have prior experience with technology solutions, with multiple patents and patent applications in their names individually. They thought of combining their efforts to come up with an all-in-one, smart solution for e-commerce platforms. With a team of 10-15 people at such an early stage of ThirdWatch, the business is growing at a tremendous pace. More people will be on-boarded soon as and when the business expands to other cities and countries.Q. Is your technology scalable to a level wherein it can be used in govt offices or banks? If yes, please give the details on when do you plan on expanding there.Currently, ThirdWatch enables e-commerce businesses to prevent fraud and abuses they come across in form of promo code abuses, chargeback frauds, RTOs, Cash on Delivery frauds, identity frauds, and much more. ThirdWatch's AI- Mitra can be definitely used by Government agencies and banks to detect fraudulent users and block risky transactions. With regards to banks, Mitra can be easily employed to detect fraudulent credit/debit card payments, fake users, multiple accounts held by users to make fraudulent transactions, etc. Mitra can also be useful in the Digital India and Cashless society initiatives undertaken by our Government. There are numerous websites and apps that enable us to transfer money, complete e-KYC, file returns, etc. However, the risks associated with these apps are similar to the risks faced by e-commerce sellers. With AI, detecting and preventing fraud for the Government and Banks is easily plausible!Q. Data security being the Crux in today's internet era, how do you ensure maintaining that? ThirdWatch ensures complete security of the data provided by our clients with its strict Non-Disclosure Policies and Security Measures. The data provided is only used for analysing it and highlighting the transaction into 'risky' and 'fake' transactions. The security parameters are never compromised, and we maintain unmitigated security standards for the data we receive from our clients.Social Media Handles - Facebook - https://www.facebook.com/thirdwatchai/LinkedIn - https://www.linkedin.com/company/thirdwatch-data-pvt-ltd/Twitter - https://twitter.com/thirdwatchaiG+ - https://plus.google.com/u/0/b/110280512617140226197/110280512617140226197Youtube - https://www.youtube.com/channel/UCWWWl8h50-w5xuek0GtUEKQ
Life is all about listening to that meek inner voice of our heart...
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