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Digital Composite Banking The Inclusive Development

Digital Composite Banking – The Inclusive Development – Dr. Sindhu Bhaskar

EST Group has its eyes set on the foundation of every economy, the base of the social pyramid. Post-pandemic, the reconstruction must have a new vigor and flavor.

EST with its ecosystem partners expects to make substantial inroads. Pandemic and the economic downturn have once again mirrored the weakness of our financial edifices.

The dust is yet to settle down, but the grave results are out. Technology and Innovation are the only twin mates with the revitalizing and regenerating spirit which can lead us to the holy grail of reconstruction of our lockdown economy.

Destiny handholds us, technology walks us through, to reach our desired goal. This is the way of life. And this is how one should plan, the course of life, and costs of our actions.

Fintech and inclusive development are the two most discussed subjects. Various solutions and various ideologies are in the market. Classical Economists have their own Nobel prized solutions. Millennial economists have all panacea in the decentralized fintech tools. Well, I am neither.

After scanning the present horizon, we come across challenger banks, neo banks, payment banks, now open banks, all have variously flexed muscles to disrupt the traditional banks. US federal banking regulator issued new guidance allowing US banks to use public blockchains and dollar stable coins as a settlement infrastructure.

This means that banks can treat public blockchains as infrastructure like SWIFT, ACH, and Fedwire, and stable coins like USDC as an electronic store of value. Additionally, it enables national banks and regulated financial institutions to run blockchain nodes and even become validators.

Transactional nature of homo sapiens has given rise to valuation model. The beginning was also P2P barter system.

It refined itself with diverse economic activities and came to be represented by tangible objects moving from bartered commodities to coins of terracotta, stones, leather, metals and finally paper and plastic. P2P to P2O (Overseas) cross border exchanges to modern enterprises, there are several layers of money movement and several forms. We do talk of history and geography of origins.

Presently we are for Society 5.0, Industry 4.0, Agriculture 3.0. We witness many inflections in banking. After my analysis of the stages against various parameters like growth thru ages changes in functions, role, structure, and technology and above all inter-bank and bank to customer relationship, I am inclined to mark it as Banking 7.0.

We are seeing lot of actions on CBDCs and Digital currencies. Much against the general conception regarding CBDC, it will not disintermediate retail banks. I strongly feel, it will be the main tool for the cross-border transactions, m-CBDC Bridge project where Hong Kong, Thailand, UAE, China, and BIS are working together.

Digital currency like Digital Yuan, the way they are being tested means they will be more for domestic market like retail currency. The downside of these digital versions is there shall be more control on the movement of funds and even more traceability of the holders because of their Blockchain/DLT basis. People will later realize that fiat had more control with the owners.

NFTs, SPAC have given a new twist to value propositions and the trend will expand further with its highly imaginative structuring and potential to tap the market.

Dr. Sindhu Bhaskar

Co-Chairman & Founder, EST Group, Visionary Director,
Seed Investor, International Partnerships at BranchX

Dr. Sindhu Bhaskar is the Co-Chairman and Founder of EST Group led by EST Global Inc., an enterprise based in the Boston Cambridge MIT eco system, incorporated and operating from Cambridge Innovation Center Cambridge Dr Sindhu has worked his career to global leadership in transforming the financial ecosystem through digital evolution, fintech revolution, and financial inclusion. He is now leading an initiative to impact a majority of the world’s population in the rural and farming sector, with an initial beginning in India where two-thirds of India’s population needs intervention. EST Group comprises of a number of enterprises like EST Capital AG, Switzerland, EST Growmore in Uruguay and Canada, EST BranchX in UK, Fintech EST in Peru, BranchX in India, EST Fintech and World Trading League in Singapore to name a few.

With 3 decades of niche experience, Dr Sindhu is a firm believer of Innovation driven entrepreneurship Dr Sindhu is a thought leader in the banking and financial services sector re-defining the scope and systemic working of the banking enterprise. Dr Sindhu is leading a global initiative to enabling a program that is unified, secure, sovereign banking solution that is seamless and enables financial freedom. EST Group is firmly set towards the goal of borderless banking, a banking ecosystem that transcends the boundaries of currency exchange, and roadblocks like identity verification and re-verification. This vision is possible through unleashing the potential of emerging technology, understanding countries problem, investing into alliances and partners to compliment the ecosystem.

He is very active in Africa partnering with local banks and local companies. Similarly, he has forged governmental relations which expands his ecosystem and gets involved in meaningful development agenda to work towards a new Development & Growth Theory

Some of his present engagements also include the followings:
Global Head of Banking & Finance Chapter of GBA (Government Blockchain Association), Washington DC
International Director & Investor, BranchX, India
Advisory Mentor & Investor, Advisory Mandi & Invest19, India
Advisory Mentor & Investor, Cashless Bazar, India
JV partner with Zing Mobile, Singapore and Ghana, Tanzania
Strategic Partner Development, Umoja, South Africa
Strategic Partner, Anda Global, Ghana Ltd.
Speaker on Fintech and Banking in various global forums
Speaker at several Management Institutions in India and other countries

Some recent awards:
Top Executive Award and listing in Marquis Who’s Who
3rd position in the World CEO of the year 2020