September - 2018
Volume 1 - Issue 6
From the Leader's Desk
Chief Technology officer
As we embark on to the growth path, I think we need to start getting into the mode of not just doing
what we are asked to but also to learn a lot of what we need to.
To be a successful software career professional, it is not enough that we are savvy technically alone.
Our technical knowledge is a big part of who we are and what we do, but when it comes to business,
unless this is augmented by other skills, technical knowledge will be deemed insufficient.
We are starting a training session on Agile this week and it is important that all of us develop an
understanding of this excellent way of executing projects. As we start new projects to be executed
here, all of you are going to be part of teams which are going to be Agile. So it is not just essential to
have an understanding of what it is but it is mandatory.
While I strongly believe in self-learning as the preferential way to learn, we also understand that some
of you might be in need of that little nudge to start the process and once you understand how to go
about it, it becomes a easier thing to achieve.
I encourage all of you to do some preliminary reading on Agile - you are going to be hearing a lot
about it in the coming days - so better be prepared. As we move along as a company, I expect all of
you to look beyond what you are doing and identify areas where you want to grow and learn.
We will provide the necessary infrastructure and support for your learning process and I am available
for any career guidance you will need. Together, we will win..
Happy Diwali to all of you and play it safe..
Around the World
Infosys Finacle partners with R3 to widen blockchain solution reach
This partnership would enable banks to easily access and
deploy Finacle’s blockchain solutions on Corda, R3’s open-source
blockchain platform, said Infosys Finacle in a statement
Read more at:
Fantom Australia Launch by NEM Blockchain Hub
Entersoft is a leading Application security company with over 100 FinTech customers and
50 Blockchain companies trusting Entersoft for Smart Contract Audits, Security
assessments, DevSecOps & Anti-Phishing.
Their mission is to make application security a strategic investment for organisations by
means of a proactive and offensive approach.
Entersoft focus on proactive security through security by design. With their managed
service offerings, they currently work with 300+ customers in IoT, FinTech, BFSI and
Healthcare. They help their customers achieve a high Application security quotient for
their products and instil proactive app security culture in the developers’ DNA.
Let us get to Know
TradeLens - IBM- Maersk Line Logistics solution on Blockchain
TradeLens uses IBM blockchain technology as the foundation for
digital supply chains, empowering multiple trading partners to
collaborate by establishing a single, shared view of a transaction
without compromising details, privacy, or confidentiality.
Real-time access to shipping data and shipping documents—including IoT and sensor
data ranging from temperature control to container weight—enables shippers, shipping
lines, freight forwarders, port and terminal operators, inland transportation carriers and
customs authorities to interact more efficiently. By using blockchain smart contracts,
TradeLens enables digital collaboration across the multiple supply chain partners
involved in global trade.
Read more on
What is Brewing?
Meeting with QCI
National Accreditation Board for Testing and Calibration Laboratories(NABL), a
constituent board of Quality Council of India(QCI). aims at implementing a
blockchain-based Certificate Authentication system. The proposed system shall
aim at automation of the process of authentication and enabling the proposed
users gain access to genuine records and certificates issued by NABL to the
RapidQube team (Partha & RamC) attended the proposal presentation on Oct
25th at QCI office in New Delhi. We proposed a NEM-based blockchain solution
that will store the accreditations and product certificates issued by the
Laboratories. This system will be accessible to both the product owners and
consumers willing to register their credentials(Aadhaar/PAN) with the system.
The users will be able to validate the authenticity of the certificates by
comparing their certificate against the one stored
in blockchain. Our solution will maintain periodic
changes in accreditations and product details and will
confirm if the latest certificate is indeed valid or not.
The proposed system is expected to handle at least
500 transactions per second and needs to be
developed in around 3 months.
Vizag Fintech Festival 2018 (VFF 2018)
Vizag Fintech Festival 2018 (VFF 2018) is a five day festival
that focuses on BankTech, InsurTech, GovTech, Financial
Inclusion and EmergeTech. The conference hosted by an
exclusive group of leading corporates, startups, academia and
regulators from around the globe to meet up and explore how
technologies will impact the future. More than 2000 delegates were attended.
Rapidqube was represented by Raghunadh Vaddadi, Kishore Muvva and
Mohanraj Polurbalu. VFF2018 has a $1 Mn Challenge to enable startups to
showcase their solutions and get a chance to winup to $1Mn in funding and
setup their office in Vizag. Over 180 start-ups pitched across locations and 40
finalists were selected to pitch their startup at the Vizag Fintech Festival Finals.
Visionary CM N.Chandrababu Naidu in his keynote speech said “Vizag will be
developed as one of top 3 fintech destinations in the world”.
Category Wise Winners
Winner - Neoeyed Solutions
Runner up - Lapetus Solutions
Winner - 3 Bars
Runner up - Beehero
Winner - Matisoft
Runner up - Desolenator
Two of our teams participated in DevMerge 2018 - an
hackathon even on Blockchain and Artificial Intelligence
held at IITM research park, Chennai. For all the developers
this was their first hackathon experience and they just loved it.
Lets hear from the team
Kavitha: Got a chance to work as a group, conceive new
ideas, explore and above all the importance of classy
Srileha: It was a good networking experience that taught
me - What to focus and how to bring out the best when
time is a challenge.
Arjun: The competitive event highlighted the importance
of planning, keeping me updated with new developments
in not only Blockchain but also other technologies that
goes with it.
Bahirathy: My biggest learning was facing the Panelist
especially when cornered. Competing with a large crowd
of developers and coming out with an up and running
website within 24 hours was an experience in itself.
Manoj: My take away is how to use other related
technologies and tools to highlight our solution/design
from the rest so that we are picked up from the crowd
Logesh: Gathering knowledge from SMEs and experienced people in the
domain during preparatory phase helps not only to come up with an unique
proposal(both technical and non technical), but also in presenting it better
Cryptocurrency - Need of the hour
A cryptocurrency (or crypto currency) is a digital asset designed to
work as a medium of exchange that uses cryptography to secure
its transactions, to control the creation of additional units, and to
verify the transfer of assets.
Few people know, but cryptocurrencies emerged as a side product of another
invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most
important cryptocurrency, never intended to invent a currency.
In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer
Electronic Cash System.“ His goal was to invent something; many people failed to create
before digital cash.
Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-
peer network to prevent double-spending. It’s completely decentralized with no server
or central authority. - Satoshi Nakamoto, 09 January 2009, announcing Bitcoin on
The single most important part of Satoshi‘s invention was that he found a way to build a
decentralized digital cash system. In the nineties, there have been many attempts to
create digital money, but they all failed. “After more than a decade of failed Trusted
Third Party based system, they see it as a lost cause. I hope they can make the
distinction, that this is the first time I know of that we’re trying a non-trust based
system.” - Satoshi Nakamoto in an E-Mail to Dustin Trammell
After seeing all the centralized attempts fail, Satoshi tried to build a digital cash system
without a central entity. Like a Peer-to-Peer network for file sharing. This decision
became the birth of cryptocurrency. They are the missing piece Satoshi found to realize
digital cash. The reason why is a bit technical and complex, but if you get it, you‘ll know
more about cryptocurrencies than most people do. So, let‘s try to make it as easy as
To realize digital cash you need a payment network with accounts, balances, and
transaction. That‘s easy to understand. One major problem every payment network has
to solve is to prevent the so-called double spending: to prevent that one entity spends
the same amount twice. Usually, this is done by a central server who keeps record about
In a decentralized network, you don‘t have this server. So you need every single entity of
the network to do this job. Every peer in the network needs to have a list with all
transactions to check if future transactions are valid or an attempt to double spend.
If the peers of the network disagree about only one single, minor balance, everything is
broken. They need an absolute consensus. Usually, you take, again, a central authority to
declare the correct state of balances. But how can you achieve consensus without a
Nobody did know until Satoshi emerged out of nowhere. In fact, nobody believed it was
Satoshi proved it was. His major innovation was to achieve consensus without a central
authority. Cryptocurrencies are a part of this solution - the part that made the solution
thrilling, fascinating and helped it to roll over the world.
Economy fluctuation pretend existing even today with major impact on all the markets with
raise and fall in selling cost. This phenomenon affects the market in dissimilar manner since
most trading assets are bought through debt.
Despite continuous economic fluctuation Cryptocurrency can create a contemporary
platform in the market. It gives an option to bypass middleman and connect traders and
investors with a real time experience with significant instant transactions
Multiple ways that you can benefit from Cryptocurrency include,
No more fraudulent activity - Highly secured digital IDs are created using blockchain's
digital ledger which is used for indeed transfers
Investments enabled - Instead preserving bigger part of upfront funds while acquiring an
asset, investors can sell parts of their tokens
Complete Transparency - Good bye to extended discussions with financial institutions and
lawyers. With blockchain involved in digital coin, every verification is decentralised and
Like an initial public offering (IPO) of stock, from which its name is derived, an ICO is a way
that cryptocurrency startups -- and even established manufacturing companies -- can raise
money. With a somewhat circular approach to economics, crypto companies fund their
enterprises by selling their own cryptocurrency, often accepting payment in other forms of
cryptocurrency (most often bitcoin or Ethereum).
This is radically different from the highly standardised, lawyer-heavy orchestrations of a
traditional corporate IPO. With an IPO of company stock, investors exchange money for
equity and voting rights in an established corporation. In the US, the process is underwritten
by an investment bank and tightly regulated by the Securities and Exchange Commission.
In the freewheeling world of crypto, however, there's none of this. No investment bank.
Rarely equity or voting rights. Very minimal regulatory oversight (though the SEC's new task
force will likely change that). And, in many cases, no corporate track record or even product.
What's not to like?
Proponents argue that ICOs accelerate and democratise the venture capital process.
Skeptics point out that the whole thing is crazy. Depending on your opinion of
cryptocurrency, and whether it's a viable form of payment or investment, ICOs may look like
an ingenious tool or transparent scam. Either way, they're a thing; according to Forbes, these
types of offerings raised more than $4 billion in 2017.
Total amount of coins avaliable
Investors invest in the ICO
ICO Tokens get distributed
Leftover coins get destroyed
If ICO target is funded
If not funded, investor funds safety
returned back to the contribu
Funded until here
by Prasanna D
- Solutions Architect
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