An Encounter That Sparked Deeper Reflection

In 2022, I had a chance encounter with Nandan Nilekani at a park in Koramangala. My mom and brother encouraged me to speak to him, and though I stumbled over my words, I managed to share that we were building the Internet of Value protocol stack to address labor market frictions—something I felt was influenced by his work with Beckn Protocol. It was an incredible moment, as Nandan's influence on India's Digital Public Infrastructure (DPI) has been monumental.

Without Aadhaar and eKYC, the digital backbone that powers so many facets of our economy wouldn’t exist today. His work has inspired countless innovations, including ours, where we are striving to build decentralized protocols that transform the nature of work, much like Beckn and ONDC have transformed commerce.

Beckn, ONDC, and Namma Yatri: Laying the Groundwork

The Beckn Protocol, pioneered by FIDE (Foundation for Interoperability in Digital Economy), and ONDC (Open Network for Digital Commerce), are profound examples of how open-source, decentralized protocols can transform industries. The vision was to create a digital infrastructure that allows any entity, whether big or small, to participate in the economy without being beholden to large platforms or intermediaries. Applications like Namma Yatri for mobility and others in commerce, logistics, and healthcare have all utilized Beckn’s open framework to redefine transactions and interactions in a decentralized manner.

Beckn enables seamless, interoperable digital ecosystems across sectors. By breaking down the walled gardens of monopolistic platforms, it empowers businesses, sellers, and consumers to transact freely, fostering a more equitable marketplace. This vision aligns perfectly with the Internet of Value we're building, which aims to position communities as economic institutions balancing between the state and the market.

Our Work: Building on His Vision

Drawing inspiration from Nandan Nilekani’s model, our approach for the Internet of Value mirrors the Beckn-ONDC-Namma Yatri structure. We envision the Internet of Value as the protocol stack governed by a non-profit, open-source initiative (akin to Beckn). Our research around well-being scores, and other protocols like data ownership and community well-being, will all fall under this non-profit’s purview.

On the other hand, our Community Venture Studio will function as a for-profit venture that builds communities (our version of "apps") similar to how Namma Yatri operates on top of ONDC. For instance, our communities like Quantum Computing India and Growth Flow Engineering serve as test cases for the protocol stack. Through these communities, we experiment, iterate, and bring real-world applications that, in turn, have the potential to foster startup.

The Power of Data: Beyond Credit Scores

The Beckn ecosystem also showcases how data can unlock new opportunities. Nilekani’s vision, as highlighted in his book Rebooting India, focuses on how data from various sources—payments, social media, Aadhaar, and others—can reduce friction and create access to credit and other services. For example, as shown in the image from Rebooting India, the integration of consumer and enterprise data enables the creation of automated, low-cost credit systems.

In our case, we’re taking that idea further by proposing a Well-Being Score that extends beyond traditional credit scores. Our well-being data will combine insights from individuals’ physiological, emotional, and performance data alongside community-level data on skills, learning, and contributions. This approach ensures that individuals’ worth isn’t solely measured by financial metrics, but by their holistic contributions to themselves and their communities.

A New Paradigm: India Leading the Way

The most striking thing about Nandan Nilekani’s achievements is that they have enabled India to chart its own path. In a world where developing countries often follow Western models of development, Nilekani and his team have proven that India can be an innovator. The Aadhaar and DPI infrastructure was born here, and now the world is taking note. Today, even a small vendor on the roadside in India can accept payments via QR code—something that astounds visitors from the West.

Though countries like China might have been faster to adopt certain technologies, India’s democratic and open-source approach is what makes this transformation truly remarkable. Nandan Nilekani is not just a technology leader; he’s a policy entrepreneur who navigated India’s complex political and social landscape to bring these innovations to life.

Conclusion: Dreaming Big, Following the Path

In closing, Nandan Nilekani has shown us that it’s okay to dream big—that India can lead, innovate, and create something new. His work has paved the way for projects like ours, and I remain deeply grateful for the foundation he has laid.

I’ll leave you with a thought from Thirukkural:*"வினைத்தூய்மை நன்றே பொழுதின் சிறப்பா தூய்மை உடைத்து செயல்."(“The purity of action surpasses even the goodness of words, for action carries greatness.”)*This perfectly reflects Nilekani’s contribution—his pure, visionary action has set India on a path of digital greatness, inspiring us to follow suit