Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Thursday, 27 September 2018

50 Gladiators : 50 million Spectators #AadharVerdict







Centuries ago , in Rome’s Coliseum , 50 gladiators fought one another ( and sometimes , a lion ) and 50,000 spectators cheered or booed



Last evening , on some 5 TV channels , some 50 panelists ( experts ? ) fought each other with their opposing views on Supreme Court’s judgment re  Aadhar  and 50 million TV viewers listened with rapt attention



This morning , 5 newspapers ( which I read ), carried millions of words of “ threadbare analysis “ of Aadhar verdict , by 50 authors



This is an example of how technology has re-written the rules of the “ Entertainment Game “ since humans fought in Coliseum !



It is futile to ask :

When should Aadhar be required and when not ?




What is pertinent to ask is :


===================


Q ( 1 ) 
Is this judgment “ implementable / enforceable “ ?

A ( 1 )
No

===================


Q ( 2 )

Is it at all possible to “ erase / delete “ trillions of terabytes of data of a billion people , lying on millions of computers , not only in India but around the world ?

     As of today , some 23,286 MILLION authentication and 6,415 MILLION eKYC , have been
     done for Aadhar !


    A ( 2 )

    No



===================


Q ( 3 )

Can government amend the existing Aadhar law to cover those  “ uses “ which Supreme prohibits ?


A ( 3 )

Have no doubt that this law will get amended if BJP gets an absolute majority in 2019


It is also quite possible that the government may introduce following IDs which may not require amendments or a new law :

#   Citizenship Card ( like NRC in Assam )

#   Ayushman Card ( for availing Ayushman Bharat Scheme benefits )


===================




Q ( 4 )

Can government include within the definition of the “ permissible services “ direct monetary subsidies such as Rs 1 lakh to buyers of Electric cars ( under FAME 2 ) ? or scholarships to students ? ( Given through DBT )

A ( 4 )

Govt will try to convert every “ service “ rendered to citizens into some “ Monetary Value “ and then transfer such “ money “ through DBT into the bank account of the beneficiary , by calling it a “ subsidy
Eg : Rs 2,000 for issue / renewal of a passport ?


=================


Q ( 5 )

Supreme court’s judgment seeks to strike a balance between the “ privacy “ of individual citizens ( data which he is forced to surrender for getting certain benefits ) and the larger good of the entire society .


But can Supreme Court or the government prevent a person from voluntarily parting with his personal / private data to anyone he chooses to give ? And protect him against its misuse ?




A ( 5 )

No way !

    In Aadhar , privacy stands for the “ private data “ furnished , viz : Name / Year of
    Birth / Gendre / Address / Photo / Finger Print / Iris Scan


    Why so much fuss about this scanty personal data , when those very,


·                Hon Judges of the Supreme Court
·                Expert Panelists  
·                Erudite Authors ,


have themselves, willingly handed over to

·         Search Engines
·         E Commerce sites
·         Mobile apps ( incuding WhatsApp / Skype / FaceTime )
·         Banks / Mobile wallet Companies
·         Number of Govt Agencies
·         Service web sites
·         ISPs
·         Mobile Service Providers etc ,


 their own following “ personal / private “ data ?


    ( most willingly / in a matter of seconds / without a protest / with FULL permission to do
     with those data whatever they like under “ I accept the TERMS “ click )




·          Personal Details ( Name / DOB / Gender / Nationality / Bank Account No /  Photo /
           Aadhar Number / PAN etc )

·           Family Details  ( Who are members of immediate family ? )

·           Contact Details ( Address / Mobile No / Email ID / Skype - FaceTime ID /
            WhatsApp .. etc )

·           Social Media Footprint , consisting of surreptitiously compiled data such as :
 

·                #  Who I am ( name )


·                #  Where and when, I was born / who were my parents


·                #  Where I grew up / where I live currently


·                #  Do I live in a rented place or in an owned flat


·                #  What Schools / Colleges I attended (- and degrees I acquired )


·                #  What Companies I worked for and salaries I got


·                #  How do I travel to work (own vehicle or public transport )


·                #  Where I go for my holidays / what books I read


·               #  Who I married and who are my children (- and how many )


·               #  If divorced, how much alimony I pay and to whom


·               #  Where do I invest my money ( Banks – Funds – Equity etc )


·               #  How much I have borrowed, from whom, and for how long


·               #  My Credit Rating  ( including my spending history / card wise – wallet wise )


·              #  What are my eating ( food ) preferences and the restaurants I visit


·              #  What I do for entertainment ( Music  /  Movies  /  Videos )


·              #  What clothes I wear and how often do I buy


·              #  Who are my friends and how often I phone / text them / meet them


·              #  What ailments I suffer from and what medicines I take


·              #  What minor offences ( traffic ) or crimes that I have committed


·              #  What elections I have contested ( won and lost )


·              #  Who are my doctors / lawyers / brokers / agents etc


·              #  What web sites I visit and how often and for how long


·             #  What do I search on the Net / what RSS feeds I subscribe to


·             #  What TV channels I watch and Radio Stations that I listen to


·             #  Every photo of mine ever taken ( selfie or otherwise )



·            #   Every phone call that I ever made or received ( from my mobile )



·            #  Every Email / Text message that I ever sent or received


·            #  Every blog / comment that I ever posted on the Web



·            #  Every face-to-face communication that I engaged in


·            #  What “ moods “ I am experiencing 24*365 ( picked up by everything that I wear )



       #  Cultural Exposure ( Countries visited / lived-in, with stay-periods  / Foreign friends )
 

       #  Educational Details ( Degrees / Colleges )     

       #  Language Details ( Languages spoken / fluently - reasonably well 

       #  Experience Details ( Where worked / for how long ) .


====================

   Q ( 6 )

   Is there some simple / elegant way in which citizen’s private data can be protected ( from
   unauthorized misuse by the social media ) and enable the citizens to earn some money by
   selling their ( aggregated / anonymized ) data ?


    A ( 6 )

    Yes !

    By govt incorporating into the proposed “ DATA  PROTECTION  BILL “ , elements of :

    A  Matter  of  Motive    /   Privacy  for  Sale   



=================================


REFERENCES :

Data Privacy Law : a Pandora’s Box ?  

[ compilation of 41 emails sent to Cabinet Ministers  ]



=============================


WHO  MIGHT  WANT  TO  READ  THIS  ?  

[  apart from TV Anchors / News Editors  ]



      secy-dot@nic.in

      ceo@uidai.gov.in


      moona@iitk.ac.in

      grai@deity.gov.in



'ssbhalla@gmail.com'

'bibek.debroy@gov.in'

'ashima@igidr.ac.in'

'rr1@nipfp.org.in'

'ratanp.watal@gov.in'

'ceo-niti@nic.in'

'Indian Think Tanks' 
IndianThinkTanks@recruitguru.com

'amitabh.kant@nic.in'

'BJP-Dept-Heads' bjpdeptheads@recruitguru.com


27  Sept  2018


               

Monday, 24 September 2018

In Sync with Peter ?


In Sync with Peter  ?



On 16 Sept , Peter wrote following blog on his web site :






In response , on 17 Sept , I blogged :

Peter :  Can we expect this ? [ I meant in Part 2 ]





Yesterday [ 24 Sept ] , Peter published :






HIGHLIGHTS :




Peter in Part 2 :
  1. Peer-to-peer lending
          With crowd-lending, we are evidently returning to this pre-centralized-banking model of
           loans, and moving away from cumbersome intermediaries (e.g. high fees, regulations,
           and extra complexity). 

          The benefits of this AI-powered lending platform do not stop at increased loan payback
          rates -- there’s a massive speed increase as well. Smart Finance loans are frequently
          approved in under 8 seconds

          Digitizing access to P2P loans paves the way for billions of people currently without
         access to banking to leapfrog the centralized banking system
       Smart contracts executed on these immutable ledgers bring the critical ability to digitally
       replace cumbersome, expensive third parties (like banks), allowing individual borrowers or
      businesses to directly connect with willing lenders



My take [  P2P Lending Regulations29 April 2016  ] :

·          Can " Companies " register on P2P platforms as either Lenders or as Borrowers ?

·         Can American / European / Japanese citizens become lenders on Indian P2P platforms and lend money to Indian borrowers ?


·          Globally , loan default rate for P2P platforms is under 1 %

      My suggestion ( to enable FDII- Foreign Direct Investment by Individuals ) has the
      potential to bring back those $ 501 billion that Indians have secretly stashed abroad
      No rocket science here !
     

·         FDII will raise that number of Self Employed , enormously

·         FDII will turn India into a " Low Cost Economy " , thereby boosting

·         Exports and taking GDP beyond 10 %




Peter in Part 2 :
  1. AI financial advisors and robo traders
          In 2017, CNBC.com estimated that 90 percent of daily trading volume in stock
          trading is done by machine algorithms, and only 10 percent is carried out directly by
          humans
            
          Artificial intelligence and financial management algorithms are not only available to
          top Wall Street players

          Robo-advisor financial management apps, like Wealthfront and Betterment, are
          rapidly permeating the global market. 
           
           As artificial intelligence continues to exponentially increase in power and capabilities,
        increasingly powerful trading and financial management bots will come online, finding
        massive new and previously lost streams of wealth.

        Extraordinary transformations are happening in the finance world.

        We’ve only scratched the surface of the fintech revolution.

       All of these transformative financial technologies require high-fidelity assurance,
       robust insurance, and a mechanism for storing value. 



My take  [  A Matter of Time    [  03  Jan  2017  ]

 

       *  All bank accounts of a person ( in different banks ) become inter- operable / fungible
          through seamless interlinking , using Aadhar / UPI Interface in a Mobile Wallet

          No need to " select " a particular bank name


  
     *  All transactions using a Mobile Wallet, automatically entered in  BLOCK-
         CHAIN  database commonly shared by ALL banks


  

     *  Wallet based algorithm will  move funds across different bank accounts  for best

        yield , constantly searching for best interest rates offered by banks on Fixed Deposits


  
        This will happen automatically , much like algorithm-based share trading , taking

        advantage of price differences in two bourses located 300 km apart ( in one
        thousandths of a second ! )
  


       No rocket science here considering availability of  " BEST PRICE "  apps for thousands
       of goods and services

   
       And since computing power of mobiles are doubling every 18 months ( Moore's Law ),
   
      nothing will stop algo-trading through a Mobile Wallet , as well ! ( Demat A/C on
   
      Wallet ? )

 



25  Sept  2018