Monthly Archive August 2018

ByJayanthi

Young India!

As India celebrates her 72nd Independance day, I was mulling one important aspect of India that can easily stand out from other countries. This was the fundamental aspect that really stood out when we moved back 8 years ago…what was it? read on to find out more…

Youth:

The world all around me was/is very young (initially, I thought it was because I had returned from the US after 14 years  – that I had aged and the next generation had emerged! :))  But while that may have been one reason, India itself had gotten the title of being the “youngest country in the world”. According to Wikipedia, “50% of India is below the age of 25 and 65% of India is below the age of 35”!! Additionally, according to another report from ‘The Guardian’, India has 600 million people who are under the age of 25!! Cool, statistic don’t you think?! 🙂  It is hard to believe this statistic unless you live in a country with such a young population.

Every side and every corner you turn, you will only bump into teenagers, singles and young couples! 🙂 There hardly seem to be many with 2 kids tagging along like us! (ok, a bit of an exaggeration there – but you get the point,right – India is very “youthy”?! :))

How does it affect you?

It definitely rubs you the right way. You feel young and energized and can totally appreciate all the new and latest brain storms. In all my remote work experiences, I have always worked with people younger than me!  While I thought it was initially a one time thing or an occasional happening…it happens all the time – (while, what they think of me is for another blog post :)) –   and I am sure that is true for most of us from my generation…

Startups:

India and particularly Bangalore or Bengaluru is home to a number of ‘startups’. Makemytrip, Flipkart, Snapdeal, Ola cabs, Zomato, redBus and many more organizations are all shining examples of Indian startups. According to this report from Bangalore Mirror, the average age of startup founders is under 36! (Superb, don’t you think?) 

There are still a huge number of startups that are mushrooming at a rapid pace with extremely bright ideas. Now, how long these organizations last and whether all of them do well in the long run, is anybody’s guess – but the feeling of entrepreneurship and moving from the tag of “employee” to “employer” is strong in India! So much so, that many start their own companies after a few years of corporate experience!

Here is to a young India making a positive difference to life in the world…

Happy Independence day to all!! 🙂

Jayanthi Manikandan has an undergraduate degree in Computer Science from India and a Master’s degree in Information systems with a specialization in Information security from Detroit, MI, USA.

She has been passionate about Information security and has several years of experience writing on various technical topics. Additionally, she loves to pen a few personal thoughts here as well! 🙂

ByJayanthi

What are Smart Contracts?

‘Smart Contracts’ is a term that is often used in the Blockchain world. ‘Smart Contracts are similar to legal contracts but are encoded in the ‘Blockchain’ . ‘Ethereum’, the public blockchain is the most popular way to create smart contracts.

We encounter physical ‘contracts’ throughout our life. Contracts are present when we start a new job(detailing the job details and the date of salary payments)  , when we buy a new house(detailing our mortgage payments and the corresponding dates , when we buy a new vehicle(detailing loan payments)

Home loans, car loans and most other critical dealings come with contracts. ‘Contracts’ enable the buyer and seller to keep their word. In a home buying scenario, once the buyer completes all his mortgage payments, the loaner company should release the title and deed and all appropriate paperwork to the buyer. There are lengthy clauses which cover every aspect of our business dealings.

An example of a legal statement might be as follows: ‘If the bill is not paid by a certain due date, then add a corresponding late fee or revoke the license’. 

What if this could be automated and enforced without any manual intervention? Is this possible? yes – by means of smart contracts. 

In a ‘smart contract’ the contract itself is coded and it is further stored and monitored by the Blockchain network.  Once a condition is met, the contract executes automatically. This ensures transparency along with elimination of middlemen.

‘Smart Contracts’ are mostly written in the ‘Solidity’ programming language.

This is just a short glimpse into the world of ‘smart contracts’. Join me as I uncover more technical topics about the ‘Blockchain’ world  in subsequent posts…

 

 

smart contracts

Jayanthi Manikandan has an undergraduate degree in Computer Science from India and a Master’s degree in Information systems with a specialization in Information security from Detroit, MI, USA.

She has been passionate about Information security and has several years of experience writing on various technical topics. Additionally, she loves to pen a few personal thoughts here as well! 🙂