February 2019

Being a trailblazer in various path-breaking pedagogic techniques over 20 years, and following its legacy of being ahead of the curve in adopting technology to aid the various systems and processes of an academic institution, Globsyn Business School (GBS) has become the first B-school in India to use Blockchain for education in order to digitise its certification process – a feat that has yet to be achieved by any other academic institutions in India, and among the very few to have taken this disruptive step globally. Globsyn Business School's Class of 2018 who got convocated on February 17, 2019, are the first students in the country to have their diplomas on Blockchain. The process of Blockchain certification will not only be beneficial to students and corporates, but also to other stakeholders like higher academic institutions and the education system in general. Through this process, the students of GBS will be facilitated with a private and encrypted digital key, linked to their diploma that will effectively reduce the time and hassle of having to go through traditional processes for documentation and verification of academic credentials, and this will also make the diploma tamper-proof and eradicate any fake production of the same. Thanks to Blockchain certification, students at GBS will now be able to share the credential of their diplomas with future employers, higher education institutions and any other body which requires cent percent legitimacy of their academic credentials, irrespective of geographic locations. Additionally, certificates issued on Blockchain are perennial unlike paper diplomas, which can be easily destroyed. Blockchain is a decentralised distributed digital ledger, which is collectively maintained by a network of computers. It can be visualized as a large ledger book, shared among many people (members) who collectively keep the records. No data on the ledger can be modified by a single person without every other member of the ledger agreeing to the change. Moreover, the ledger book is not stored in one place but is distributed among all the members, ensuring that there is no single person who can tamper with the records – a situation which is highly probable in a centralised database. This makes Blockchain technology hugely secure and is predominantly used in the financial services domain. While the adoption of this path-breaking technology is still in its infancy in the education industry, it is believed to carry the potential to make the education system more dependable and trustworthy. There could be multiple areas of application of Blockchain, but the most prominent use case in the education sector is to issue digital diplomas to students. Blockchain can be also utilized to create an independent learning platform which facilitates the exchange of knowledge between students and faculty, without the need for external control authorities or regulatory bodies. Acknowledgement of excellence in academics can be vastly improved using Blockchain to reward students with digital tokens for their achievements. These tokens could be transferred as credits by students in their future academic pursuits across universities and schools. Using Blockchain, a knowledge bank can

The session started with glimpses of different effects that drive a market and slowly it progressed into a broader side of Economics i.e. Balance of Payments which actually forms the base of current Financial Market. Mr. Anindya Banerjee, an alumni of Globsyn Business School, effortlessly reflected his insight about the market scenario which he has gained through experiential learning. He discussed on the entire Balance of Payment (BOP) and concluded it in terms of accounting statement. In this context, he told that the Accounting Standards prepared by The Institute of Management Accountants (IMA) is called the Balance of Payment Mechanisms 6 (BPM 6). This technique is used almost by every Government in the world. The NRI can access the two kinds of bank accounts which are Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. The concept of Surplus and Deficit came along while describing Current Account and Capital Account. He also highlighted on the conception of capital formation. He talked about the Foreign Portfolio Investment (FPI) which is also called Foreign Institutional Investor (FII) and also highlighted on the theory of Foreign Direct Investment (FDI) which means any type of investment beyond 10% holding and also pointed out the difference between the FII and FDI. He also mentioned the role and significance of NRI (NRE+NRO) and the theory of Corporate Borrowings (CR) with regard to capital formation. Borrowing is nothing but an indication of negative savings. He discussed about the concepts of open and closed economy. He also discussed about the Role of RBI which is the only institution in India that applies to every country in the world who only has the permissibility of printing currency. The theories we have learned so far in different books of different subjects are important as it give us the path for recognition of different scenarios and problems in respect to Financial Management and Corporate Finance, but at the same time it give us the idea about all these under a specific context. The current market scenarios are ever changing and evolving and so the handling techniques. His use of practical examples and pictorial representations made us want to reach to the bottom of the facts easily and without putting much pressure on what we have known so far and what we should know. He explained brilliantly how one’s income is one’s expenditure and without any expenditure there can’t be any income. The bridge he established between finance and economics through his vivid explanations has been truly amazing and worth knowing. Throughout this session he involved us in every bit of knowledge imparted thereby make the time spent interesting and exciting instead if unidirectional. Ritiman Thakur PGDM 08, Globsyn Business School Aparna Ganguly PGDM 08, Globsyn Business School