Charlie Munger once said "Show me an incentive, I'll give you an outcome". The incentives for players in ONDC are not clear. E-commerce in India has reached where it is today because every step of the value chain is tightly managed and optimized. Each participant in the value chain from manufacturer,seller, warehouse, logistics, buyer has very clear incentives. This incentive structure needs to be laid out clearly for ONDC. Blockchain is just a tech layer and not a solution to this problem. Keeping a keen eye on ONDC. If executed right, it could be a game changer.
They should start doing that (and also will probably automatically do that) when most of the problems mentioned in this video are solved including others ONDC is developed by the government, us making more people go there won't change things
I have been following this channel since the time of the pandemic and by a great stroke of luck, I got to meet Caleb today, at my tech park at RMZ Ecoworld. It was so great to see one of the brains behind this channel. Onwards and upwards friends, I hope you reach 1 million subscribers soon.
Hey Shiv, was wondering if you'd actually comment! So glad you did. Was great bumping into you and I'm so glad you've been enjoying our videos all these years. Sometimes making these videos, we forget that these metrics (subs, views, comments, etc.) represent real people in the real world, so it's really special and meaningful for me when I get to actually connect with people IRL. Thanks for not being shy and coming over to say hi 🙂 -Caleb
the biggest problem i came across with ondc in food delivery atleast was there not enough sellers on it making us buy from some unknown seller, i also dont understand who is funding their discounts which are pretty good
Fantastic channel. May they be blessed hugely and may they grow and shine. Three Cheers. Very well prepared and detailed reports. Salutes to you. Jai Hanumante
I work closely with folks in ONDC. They are the most motivated set of folks, and together with them, we believe that we are on the cusp of something really revolutionary.
The ONDC embarked on developing a platform without a comprehensive understanding of its functionality and consequences. Now, they seek external assistance, funded by government resources, to resolve the issues-an approach that might be perceived as a less than ideal way to address their challenges. Good Job! Also i wonder how much BWB was paid to sponser them.
Nothing will happen from hackathon. If they want to build infrastructure, they have to hire developers. Pay each one of them on par with FAANG companies. Then only something big will happen. Hackathon = cheap thinking. Hackathon is just for ideas and doing something unique, not for building large scale infra.
So Let Me Clear A Thing Hackathon Is Not a Cheap thinking. Second Have You Been Gone to any international Hackathon Most Of Those Hackathon Provide you Money for your start up idea build in that hackathon they provide you space and all the other thing
Aiming at a 1.4 billion is a bit too high. Instead put a target number of households (families) that number 280 million if 5 is taken as the number in a household. That would be one end. The other end is the trader & that base. Identify the households, call each a customer & create a customer base (customer can be producer, if flipped over).
In economic terms, its like a perfect market condition with perfectly elastic demand. Condition where a slightly lower prices gives more sales and market share and slightly higher prices takes them away quickly. Wonder how small vendors will be able to keep their costs down to be in competition.
Ondc has created IGM which is an Issue and Grievance Managemnrt framework which defines liability between each entity involved in facilitating a single transaction. This is now compulsory for all network participants.
It will not, it will increase competition and force all types of shops to evolve and becomes more efficient Competition is always good for the buyer, competition also helps in sellers to evolve
7:01 so on this note how will the customers will come to know or how can customers trust on if any new brand or any new born unicorn who don't have good logistics to deliver the goods and services ?
Kinda not because of fake reviews and rating manipulation usually done by most of the Indian companies it’s very important to have the option to remove the rating if it comes out to be fake
At 2:07 you said only 5-6% MSME sellers sell online. I am unable to understand what ONDC do which giants like Amazon does not provide? What are the pain points of these MSMEs?
ONDC is a centralised site where sellers list their products # Any E-commerce apps can later pull those products from ONDC and list it on their website.(till now only big players had sellers in their pocket, due to ONDC that Monopoly will be broken) # If that product is rated on any e-commerce app...its ratings will be reflected on ONDC. So a product will always have same rating on all E-commerce platforms. # Seller will see all his orders on ONDC itself..he wont have to check multiple E-commerce site for that..
i think that blockchains made it infeasible to alter them through mining, but in this case how exactly are they making it tamper-proof, as from my experience blockchains have a lot of data and mining is super resource intensive, which i dont think the customers and sellers would set up.
Yeah They Should Make An App For Each And Every Identity Card Like How to Apply for them and all What Other thing is required to apply for them the process sucks😔
I order cashew of 250gm on Paytm ONDC. The product packaging is not okay, It vas packed in very dirty and distorted pouch. Irony is that the Manufacturing date printed was of just 3 days earlier of 28/02/2024
This video feels like monotonous, not well researched and repetitive unlike other videos by this channel. Hopefully this is just one of case and not the beginning of downfall.
Hello everyone! I am a 17-year-old who used to engage in some unproductive content on social media, which did not help me increase my knowledge but rather decreased my willingness to learn. However, I am trying to change and use social media to become a better version of myself, as it is an integral part of my life and I spend about 3-4 hours on it every day. If you know of any good channels that have added value to your life, I would love to follow them. Your time and efforts are greatly appreciated.
@@arjavgarg5801 bro while online u cannot haggle, there is no specific feature where i can put a price, say my spending is high and urs is low, and u r offered same thing at 10,000 while its offered to me at 12,000 with no clear difference in product quality and services, why shouldn't i call it scandalous feature. Its similar to how call recording worked previously but now companies send this call is recorded audio if someone records an audio and now they made silent call recording a feature in phones and u pay extra for this in Chinese phones
@@arjavgarg5801 while haggling is a simple technique to het something cheaper, because if u go to market often, u will find most of people charge sky high prices so u haggle, while here different price with no haggling is downright bad
Corruption and mismanagement are pervasive issues in India's infrastructure development. Funds allocated for infrastructure projects sometimes find their way into the wrong pockets, this is not my opnion its the opnion of the world thats why best companies are moving out of india .
corruption is a problem but corruption is not to that level as previous time but yes we need immediate judicial reforms and make it as easy possible for buissiness to settle in india
@@chandramohanchinni3318 yeah keep on dreaming with eyes open. Its backed by govt. Govt cant fix a shitty irctc site since last 2 decades and you think ondc will improve.
Checkout the Solana Hackathon here: www.colosseum.org/renaissance
This is the beginning of a new era in e-commerce in India
Charlie Munger once said "Show me an incentive, I'll give you an outcome". The incentives for players in ONDC are not clear.
E-commerce in India has reached where it is today because every step of the value chain is tightly managed and optimized. Each participant in the value chain from manufacturer,seller, warehouse, logistics, buyer has very clear incentives. This incentive structure needs to be laid out clearly for ONDC.
Blockchain is just a tech layer and not a solution to this problem.
Keeping a keen eye on ONDC. If executed right, it could be a game changer.
While the incentives for the suppliers is pretty clear , the buyers have no such incentives as to why they should shift to ONDC
Govt and Imfluancers should be Promote ONDC. Let's remove the monopoly of current e-commerce.
Like Rupay card
They should start doing that (and also will probably automatically do that) when most of the problems mentioned in this video are solved including others
ONDC is developed by the government, us making more people go there won't change things
@@cascadeum1 yeah off course
I have been following this channel since the time of the pandemic and by a great stroke of luck, I got to meet Caleb today, at my tech park at RMZ Ecoworld. It was so great to see one of the brains behind this channel. Onwards and upwards friends, I hope you reach 1 million subscribers soon.
I think ONDC' s USP is reduce the commission rate for sellers
damn
Hey Shiv, was wondering if you'd actually comment! So glad you did. Was great bumping into you and I'm so glad you've been enjoying our videos all these years. Sometimes making these videos, we forget that these metrics (subs, views, comments, etc.) represent real people in the real world, so it's really special and meaningful for me when I get to actually connect with people IRL. Thanks for not being shy and coming over to say hi 🙂 -Caleb
@@backstagewithmillionaires The pleasure was mine!
shiv I also met u . honestly I dint like u , u were too uEAGLy and were being too rude. I wont reveal my name but I dislike u @@shivkumarb8492
Ondc should have it's own delivery and shopping platform, no need to link other apps it's actually free customers to them in real.
Why don't ondc Collab with post office
But why?
Yeah
If they collab with post office for last mile delivery... post office doesn't have that infrastructure to work as last mile
That's a good initiative for far end rich
Yeah someone can build last mile delivery startups for northeast, etc using ondc
Growing india 🤝
Let's hope for good like UPI. and trust in our current technocrats and gov...
the biggest problem i came across with ondc in food delivery atleast was there not enough sellers on it making us buy from some unknown seller, i also dont understand who is funding their discounts which are pretty good
ONDC 🔥🔥🔥🔥🔥🔥
UPI 🔥🔥🔥🔥🔥🔥
MODI. 🔥🔥🔥🔥🔥🔥
Fantastic channel. May they be blessed hugely and may they grow and shine. Three Cheers. Very well prepared and detailed reports. Salutes to you. Jai Hanumante
I ordered something from ONDC ( using paytm ) on 3rd march and it was going to deliver today ( on 7th march ) but still it is not even shipped 😆
I faced delivery delays many times even on Amazon prime
@@commieTerminatorbut amazon atleast say sorry and give a solution for issue. Ondc don't even have customer support 😂
Well It's Growing
The problem with ONDC is the same problem with Bitcoin. There is no central authority for accountability. It's the wild wild west.
I work closely with folks in ONDC. They are the most motivated set of folks, and together with them, we believe that we are on the cusp of something really revolutionary.
The ONDC embarked on developing a platform without a comprehensive understanding of its functionality and consequences. Now, they seek external assistance, funded by government resources, to resolve the issues-an approach that might be perceived as a less than ideal way to address their challenges. Good Job! Also i wonder how much BWB was paid to sponser them.
Nothing will happen from hackathon. If they want to build infrastructure, they have to hire developers. Pay each one of them on par with FAANG companies. Then only something big will happen. Hackathon = cheap thinking. Hackathon is just for ideas and doing something unique, not for building large scale infra.
So Let Me Clear A Thing Hackathon Is Not a Cheap thinking.
Second Have You Been Gone to any international Hackathon Most Of Those Hackathon Provide you Money for your start up idea build in that hackathon they provide you space and all the other thing
@@het1738 He is talking about scalable infrastructure which can't be built overnight with just a hackathon.
I am working in ondc certification for buyers and sellers in my company .🎉🎉🎉
This has happened because of
UPI
Jio
Note Bandi
But still my Question is why Indian companies are joining ONDC?
3:06 Did you watch the video? -Caleb
ONDC is a robust plateform for commerce and huge potential........govt must improve the platform and make it more transparent
Aiming at a 1.4 billion is a bit too high. Instead put a target number of households (families) that number 280 million if 5 is taken as the number in a household. That would be one end. The other end is the trader & that base. Identify the households, call each a customer & create a customer base (customer can be producer, if flipped over).
In economic terms, its like a perfect market condition with perfectly elastic demand. Condition where a slightly lower prices gives more sales and market share and slightly higher prices takes them away quickly. Wonder how small vendors will be able to keep their costs down to be in competition.
Ondc has created IGM which is an Issue and Grievance Managemnrt framework which defines liability between each entity involved in facilitating a single transaction. This is now compulsory for all network participants.
Ondc is already giving value to buyer by showing them all the sellers. If you went to Amazon on first day itself Amazon won't show our products on top
It will kill the trade market and the local shops in the town
It will not, it will increase competition and force all types of shops to evolve and becomes more efficient
Competition is always good for the buyer, competition also helps in sellers to evolve
7:01 so on this note how will the customers will come to know or how can customers trust on if any new brand or any new born unicorn who don't have good logistics to deliver the goods and services ?
by 2028-30 it will be mainstream...
The rating part is a great idea and hope every e-commerce platform adopt to that blockchain based on the business id
Kinda not because of fake reviews and rating manipulation usually done by most of the Indian companies it’s very important to have the option to remove the rating if it comes out to be fake
At 2:07 you said only 5-6% MSME sellers sell online. I am unable to understand what ONDC do which giants like Amazon does not provide? What are the pain points of these MSMEs?
Amazon and Google charge platform fee...That makes products expensive...There is near 0 charge on ONDC
ONDC is a centralised site where sellers list their products
# Any E-commerce apps can later pull those products from ONDC and list it on their website.(till now only big players had sellers in their pocket, due to ONDC that Monopoly will be broken)
# If that product is rated on any e-commerce app...its ratings will be reflected on ONDC. So a product will always have same rating on all E-commerce platforms.
# Seller will see all his orders on ONDC itself..he wont have to check multiple E-commerce site for that..
Ondc is for goods, we should have something for services also
ONDC is not able to compete with his competitors as the prices are high.
Pride to India.
Ondc need a lot improvement
How does 1 access ONDC? Please inform about this ?😮😮
Paytm
Don't buy anything. You will loose your money
@@meon551 i have been using it for months it's safe
What's the actual incentive in long run for a marketplace
Only losses
i think that blockchains made it infeasible to alter them through mining, but in this case how exactly are they making it tamper-proof, as from my experience blockchains have a lot of data and mining is super resource intensive, which i dont think the customers and sellers would set up.
why would they mine the blockchain? These aren't croptocurrecies "tokens". And are most likely based on hyperledger fabric.
Can anyone explain what does the ondc even mean?
I think their must be a app from gov ( like BHIM) to provide clearity, lots of other app are so much confusing
Yeah They Should Make An App For Each And Every Identity Card Like How to Apply for them and all What Other thing is required to apply for them the process sucks😔
If the ONDC is on air, how do I place orders as a buyer via ONDC?
Hey they collabed with this channel
Is ONDC like govt shopify?
I order cashew of 250gm on Paytm ONDC. The product packaging is not okay, It vas packed in very dirty and distorted pouch. Irony is that the Manufacturing date printed was of just 3 days earlier of 28/02/2024
Rate it 1 star. It provide other user to buy it
I also has a same experience. They can't even think about replacing Amazon. Ondc is providing very bad service
No incentive to buyer. No reliable platform. Won't take off
Yes. Very bad service
If ONDC make there own app will more better.
Ondc works good
To me it seems that ONDC will take a very long time to fine tune itself and pick up.
What UPI could achieve in months, ONDC will take years.
India should focus more on tech or saas companies rather than manufacturing
Manufacturing is essential for a country like India.
india is huge country .... one thing is never enough
are u crazy? only manufacturing can save india
L take
Legendary take?@@adityadubey2488
jainwin
This video feels like monotonous, not well researched and repetitive unlike other videos by this channel.
Hopefully this is just one of case and not the beginning of downfall.
why there is hackathon only for IT and coders and not for other problem like finance, climate change, robotics etc
Bro has no idea what hackathon means 😂
Hello everyone! I am a 17-year-old who used to engage in some unproductive content on social media, which did not help me increase my knowledge but rather decreased my willingness to learn. However, I am trying to change and use social media to become a better version of myself, as it is an integral part of my life and I spend about 3-4 hours on it every day. If you know of any good channels that have added value to your life, I would love to follow them. Your time and efforts are greatly appreciated.
Awesome
Is IndiaMart doing the same thing???????
did he just say charging people different amount for same product, isn't this a scandal
You haggle with shop and you get lesser price, scandal?
@@arjavgarg5801 bro while online u cannot haggle, there is no specific feature where i can put a price, say my spending is high and urs is low, and u r offered same thing at 10,000 while its offered to me at 12,000 with no clear difference in product quality and services, why shouldn't i call it scandalous feature. Its similar to how call recording worked previously but now companies send this call is recorded audio if someone records an audio and now they made silent call recording a feature in phones and u pay extra for this in Chinese phones
@@arjavgarg5801 while haggling is a simple technique to het something cheaper, because if u go to market often, u will find most of people charge sky high prices so u haggle, while here different price with no haggling is downright bad
India does more Real Time Transactions not Digital Transactions... Please correct.
How are they tracking non digital
Sadly this wasn't long lasted. TPDN is already killed it and other marketplaces.
Blockchain fit because of its trustless architecture
Just so you know, ONDC is not a government initiative
It is very much a government backed initiative, while being a private organisation.
ONDC is vaporware
Indian host's voice is so monotonous. Sometimes he randomly fake chuckles lol.
ONDC is in ios?
ONDC is not a separate application. Currently Paytm has ONDC. You can check this out.
Corruption and mismanagement are pervasive issues in India's infrastructure development. Funds allocated for infrastructure projects sometimes find their way into the wrong pockets, this is not my opnion its the opnion of the world thats why best companies are moving out of india .
corruption is a problem but corruption is not to that level as previous time but yes we need immediate judicial reforms and make it as easy possible for buissiness to settle in india
😂😂😂 whare is Paytm
45th view like plz
1st view pin
Ondc is a big failure
Cuz my msme is still on the way
@@iDEEPJYOTI no one cares
No, it is not a failure but it is trying to improve & effective. Please Encourage the Company 😊
@@chandramohanchinni3318 yeah keep on dreaming with eyes open. Its backed by govt. Govt cant fix a shitty irctc site since last 2 decades and you think ondc will improve.
Such a failure initiative from government. Very very bad service
Invest in India 🇮🇳