World Digital WeeksFintech & Digital Banking Innovation ConferenceInternational Conference on Crypto Finance & Blockchain Technologies

Sanat Bhat

Speaker at Fintech & Digital Banking Innovation Conference , International Conference on Crypto Finance & Blockchain Technologies

Blockchain SME at IBM , Thailand

My first venture was inspired by the idea of making medicines affordable and accessible to everyone. My friends and I built a digital platform on Blockchain technology to make the idea a reality and named it as Credible. Uganda’s National Malaria Healthcare Program used Credible for providing 1 million malaria patients access to low-cost medicines at their National Medical Stores. This helped Uganda reduce the malaria deaths from 7500+ in 2017 to 3500 in 2018. I sold my venture to Ajanta Pharma for $1.2 million

In January 2020, I joined IBM Thailand to kick off the Blockchain unit. Thailand taught me the art of applying “knowledge of right traditions” for managing a team with diverse cultures and winning deals in a complex market. Today, we are a unit delivering platforms for the Central Bank of Thailand and the National Banks to achieve financial inclusion for 7 million Thais below poverty line.

I have a dream that 2+ billion low-income groups get easy on-line access to banking and social security.

Session:Achieving Financial Inclusion with Blockchain transformation

Banks are becoming technology companies themselves and applying the huge data generated to best use cases. I believe that the data being created with each of these Banks are a jigsaw puzzle to the real value that can be created in the economy. The right understanding of the very concept shall trigger widespread application of Blockchain in fintech.

The epicenter of the Banking ecosystem is the Central Bank and when they plan to build a connected digital infrastructure for the country the need for Blockchain technology will be natural. I believe Thailand had a great understanding of this idea, way early in 2016. The country is building a financial infrastructure on Blockchain technology with a three-point goal of:
a. creating a unique trade record
b. creating unique retail and corporate ID in the country
c. provide trusted digital infrastructure for payments & trade finance

These are essentially first principles of achieving financial inclusion & this is exactly what I want to communicate as part of the session.

Learning outcomes:

  • Application of Blockchain technology in Fintech/li>
  • Application of digital transformation to achieve Financial Inclusion
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