Karnika E Yashwant – ‘Mr KEY’ | Founder, KEY Difference Media & Forward Protocol
- Karnika, also known as Mr. Key is the founder of Key Difference Media and Forward Protocol.
- He is an impact entrepreneur who has built and supported the next billion-dollar startups in the blockchain space.
Podcast
Overview
Blockchain technology has garnered massive attention globally, however, it gets a bit complicated for a lay man to comprehend. In this episode, we break down the concept of blockchain technology and philosophy to teach you about its potential and benefits. Join us as we delve into the philosophy behind blockchain, the impact on traditional financial institutions, and the potential of blockchain in enhancing security and transparency.
[00:37] – About Karnika E Yashwant
- Karnika, also known as Mr. Key is the founder of Key Difference Media and Forward Protocol.
- He is an impact entrepreneur who has built and supported the next billion-dollar startups in the blockchain space.
- Mr. Key has co-founded Forward Protocol as well as founded Utopian Capital and Key Difference Media.
- He is an adventure sports enthusiast.
[02:22] – Can you explain blockchain technology in simple words?
- Before we consider blockchain to be a technology, it is a philosophy.
- Blockchain came into existence because there is a problem in the world that is becoming bigger and bigger by the day and that can only be resolved if the community comes together and there’s transparency.
- Everybody is the part of the process and not just one entity who figures everything out.
- It is that decentralized control and making sure everybody is a part of that equation that philosophy is the premise of everything blockchain.
- The moment we understand why something is created, it’s easy to understand what it is.
- Blockchain, in very simple terms, is a series of blocks connected as a change. Every block stores data that refers to the previous block, so now when the block is created, you cannot go and modify what is existing in the previous block.
[04:24] – What are the differences between public and private blockchains? How can each one be effectively used in different industries or businesses?
- The public blockchain is just that the data could still be public or private, but it is the control, the validators, the notes or those who are hosting the information is open for a good part of the world.
- The information is out there, so people can see the transactions.
- In a private blockchain, everything is private. The primary difference of use cases is if it is an enterprise who is running something for themselves, for their organization they could run it very well privately. They don’t need to depend on public infrastructure.
- It’s something that they could use for their company usage. That’s something like they’re looking to have transparency within the company, but they’re not really looking at being decentralized.
- It’s a company’s infrastructure, and they don’t want that decentralization as a benefit for that. If they want decentralization benefits, then they go on to a public network or they could also create their own public network which involves more than one company or the party.
RESOURCES:
You can connect with Karnika E Yashwant – ‘Mr KEY’ : LinkedIn
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Profile
- Karnika, also known as Mr. Key is the founder of Key Difference Media and Forward Protocol.
- He is an impact entrepreneur who has built and supported the next billion-dollar startups in the blockchain space.
- Mr. Key has co-founded Forward Protocol as well as founded Utopian Capital and Key Difference Media.
- He is an adventure sports enthusiast.
