QzIP - Empowering the Agricultural Economy through Blockchain Technology

Deemed by many as the next big thing after the internet, Blockchain is being revered for its ability to strengthen security while ushering in an environment of trust and transparency over traditional ledger systems. However, Ashish Banerjee believes that Blockchain, just like IoT, is currently going through a hype curve which after its death, will stand as yet another information technology. What most people seem to be missing is the big revolution in business models that Blockchain technology aka Internet of Value will bring about i.e. the disintermediation of the aggregators.

Ashish Banerjee heads QzIP, a Noida based Blockchain technology service provider as the Technology Evangelist. Elucidating on the vision that pushes QzIP forward, Ashish Banerjee says, “We are working to create a positive impact on the Indian citizens at the bottom of the economic pyramid, helping the nation to transform the economic pyramid into an economy, shaped like a Diamond.” Aligning with this vision, the firm has partnered with another startup Alo AgriTech, to empower the agricultural economy which suffers from one of the most inefficient supply chain and the key asset, the farmers, through the Blockchain technology.

Citing another project that QzIP is working on, the Technology Evangelist delineates, “Rightly termed as Internet of Value, Blockchain facilitates the ownership of Intellectual Property (IPR) and control to transcend beyond the confines of an organization boundary. Leveraging this opportunity we provide small companies as well as individual developers trapped in the corporate circus, avenues to monetize their free time; equipping them with the required skills.”

The firm has adopted the Ricardian Smart Contracts, which is enforceable in the court of laws as well as executable by a computer algorithm. Developers contribute and get paid in Crypto Tokens.

QzIP is working with Universities and Incubators to develop Blockchain programmers. QzIP has also innovated a scripting VM (Virtual Machine) based bridge platform which brings in the ability to configure multiple Blockchain technologies such as Ricardian Smart Contract Blockchain Technology, Hyperledger Fabric and Ethereum Enterprise. W3C Inter-ledger protocol is used for bridging the Blockchain multitudes. The solution supports LUA and Javascript, running inside a sandbox. The core technology abstracts the Enterprise integration pattern details as well as Blockchain networks.

We are working to create a positive impact on the Indian citizens at the bottom of the economic pyramid

A key factor that differentiates the firm in the market is QzIP’s emphasis on leveraging disruptive technologies to make a positive impact on the bottom of the economic pyramid, thus staying in touch with the ground realities of Digital India. In the near future, the Technology Evangelist also hopes for the Agri Supply Chain to be making enough to provide the target with Return-on-Investment. Herein Ashish Banerjee quips, “We work with Farm Producing companies, who have their board meetings under the sun while sitting on the ground, corporations can’t get more frugal”.

We can also expect to see QzIP expanding its Blockchain expertise across the globe along with the deployment of Bullion Supply Chain, within their Blockchain Network.