World Trade Centre Goa, organized a Workshop on “Blockchain Technology & Cyber Secutiry” on 30th August 2018. Mr Ambar Kamat, Director, Eintellize Infotech Pvt Ltd was the facilitator.

Blockchain is a digital centralized ledger that keeps a record of all the transactions taking place on a peer-to-peer network. All information transferred via Blockchain is encrypted and every occurrence recorded, making it unalterable. Blockchain is decentralized, so there's no need for any central, certifying authority, it can be used for much more than the transfer of currency, hence contracts, records and other kinds of data can be shared in encrypted form and thus can be shared across multiple providers without risk of a privacy breach.

Mr Ambar Kamat informed that Blockchain Technology enables bilateral settlement by eliminating mid point failure, delays and collateral costs. He opined that there are many other uses for this emerging technology and the more we are aware, the more we can try to leverage and utilize it.

The digital world, he said, has transformed our lives, creating new ways of communicating, organizing and accessing information. It has also created new threats popularly known as Cyber Threats. He further elaborated that Cyber Threats, often executed by hackers trying to gain unauthorized access to an individual's personal information for either financial gain or to perform some troublesome and mischievous acts.

Under a cyber threat, the victim is attacked in the form of Malaware, Phising, Authentication alerts, and Ransom Ware among others. Thus, Cyber security would ensure that every online activity is kept safe through adoption of adequate cyber security measures like, installing reliable anti-virus software, using complex fire walls, installing encryption software and keeping abreast of the latest updates in the realm of cyber security solutions.

Mr Kamat said that Cyber crimes remain undetected for more than 280 months, 60% of cyber attacks are against medium and small business and 72% of the cyber attacks involve phishing emails. In the light of these factors, he informed that cyber crime damages are projected to cost the world $6 Billion annually by 2021 and the world will spend approximately $ 1 Trillion cumulatively up to the year 2021 on Cyber Security products and services to combat Cyber Crimes.

Earlier, Mr Cyril Desouza, Assistant Director, Trade Promotion, World Trade Centre Goa, while welcoming the delegates, apprised them of the role of the World Trade Centre in promoting International Trade and also shared that this workshop would help the delegates carry out international Trade, in the digital realm, in an easy and secured environment.

Seen in the Picture (L-R) Mr Ambar Kamat, Director, Eintellize Infotech Pvt. Ltd and Mr Cyril Desouza, Assistant Director, Trade Promotion, World Trade Centre, Goa