A NEW DIGITAL ECONOMY

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Today,cryptocurrencies,Bitcoin & Ethereum being the most prominent among them ,are

a global craze ,with their valuations & market capitalization shooting through the roof .

A cryptocurrency is a digital or virtual currency that uses cryptograph for security

Cryptocurrency is a DE-centralized & organic in nature i.e. it is theoretically immune to any

interference or manipulation by any central authority ,even government or regulatory

authorities.

cryptocurrencies use a distributed public ledger called blockchain,

a record of all transaction updated and held by currency holders ,

in order to keep the faith & everything in check .

units of cryptocurrencty are created through a process called

"mining" which uses complicated mathematical formulas to

generate coins.Bitcoin was the first cryptocurrency ,then came a

host of successor, including Ethereum , Ripple & Bitcoin cash ,all

running on their own distributed ledger system .

MECHANISM

Because of its unique & secure features ,cryptocurrencies as well as their underlying

blockchain technology is being increasingly by banks & financial institution across..

The number of transaction on the bitcoin & ethereum trading platform in India has also

increased exponentially leading bitcoin platform are reporting that 3-5 lakh downloads and

adding few thousands user everyday . around thousand bitcoin are traded on a daily basis

on an average.

Comments

Bitcoin a 'dangerous speculative bubble ,is it?

Mo n e y is a m a tt er o f f a ith, Bits of paper and computer bytes change hands billions of times a day as a measure of value because we trust the promise that they represent .in today's era of fiat money ,those promises rest ultimately on a guarantee by governments that they are valuable . that guarantee , as we have seen , is being questioned as the willingness of governments to live up to the promises of fiat currencies is called into question by the deterioration in public finances We often discuss the ways that new technologies and techniques are being used to improve the digital scenario consecutively To t r e at the debate about the f ut u re of mo ne y as a battle between econo m i c truths is to mi s und e r stand the nature of money itself. ...

Will it be possible that if Blockchain Technology can remould Global Payments System?

Payments are synonymous with a transaction that is guaranteed by a central authority which can be a bank, a payment wallet or an escrow service. Keeping the chronological timeline under consideration blockchain happens to be at the helm of technological advancement in the financial domain. A block is the ‘current’ part of a blockchain, which records some or all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. “Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.” The core value of a blockchain is that it enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints. Hence, with the blockchain acting as a consensus ...

IMPACT OF BITCOIN IN INDIA

Crypto currency exchange operators remain untaxed of RBI warning that beware of Bitcoin " if India had to ban virtual currencies they would have done by now. in last 3 years, the RBI 's statement has been the same: they are uncomfortable with it and people should invest at their own risk . But tell me who is at risk everyone who has invested in it are making money and richer now.crypto currency is reality of the power of digital currencies which fast gaining popularity in India & world wide. It is now almost a decade since the first crypto currency, BITCOIN was developed in 2008 by Satoshi Nakamoto, but still, it is believed that we are in the nascent stages of crypto currency and block chain technology. It’s either gifted as an economic saviour of mankind or a complete annihilator of fiat currency. so visit the following links for more expert opinion of bitcoin. In the last couple of years there has been significant growth in the trading...

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