Arun on blockchain
However, what we've been missing is a practical, operational, 'how to' set of steps for creating, implementing, and operating a blockchain-based solution. This book aims to fill that gap. It's an invaluable tool for anyone ready to take the plunge and start taking advantage of this remarkable technology. Not so with blockchain.
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FinTech News
Cryptocurrency is not legal tender in India but the govt will explore blockchain to usher in the digital economy, says Arun Jaitley while presenting Union Budget New Delhi: Cryptocurrency is not legal tender in India but the government will explore its underlying technology, called blockchain, to usher in the digital economy, finance minister Arun Jaitley said on Thursday while presenting Union Budget The government will take measures to eliminate use of crypto-assets in financing illegitimate activities or as part of the payment system, the finance minister said.
The focus, however, would be on the distributed ledger system or blockchain technology that allows organization to record and authenticate transactions without the need of intermediaries. Both governments and banks are grappling with how to deal with cryptocurrencies, such as bitcoin.
Some of the dangers cited are to do with privacy, security and volatility in price. Countries like Japan and China have cracked down on cryptocurrencies while South Korean policymakers said they were considering shutting down domestic bitcoin exchanges. In the US, privacy issues could be a problem while both Germany and Singapore are wary since there was no regulatory protection for investors. India has always been opposed to cryptocurrency, claiming that they can be a channel for money laundering and terrorist financing.
Nevertheless, according to reports, the Reserve Bank of India RBI has a group studying whether digital currencies backed by global central banks can be used as legal tender. Even social media companies like Facebook announced that it was banning all ads related to cryptocurrencies in an effort to fight scams.
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Arun Balakrishnan News
In an effort to curb the proliferation of cryptocurrencies like Bitcoin in India, Finance Minister Arun Jaitley on 1 February said that the government will eliminate the use of virtual currencies for illegitimate financing. However, the government will look at the utilisation of Blockchain a distributed digital technology that supports cryptocurrencies ," Jaitley said in his Budget speech in Parliament. Jaitley has repeatedly said that such digital currencies were not legal tender and people dealing with them would not get any legal protection. Meanwhile, in response to Jaitley's observations in cryptocurrencies, virtual currency wallets like Unocoin and Zebpay tweeted their responses. Unocoin tweeted, "Based on the UnionBudget announcement, there is no change in government's stance with respect to cryptocurrency. It is business-as-usual at Unocoin Budget".
India wants to ‘eliminate’ the use of cryptocurrencies in ‘illegitimate’ activities
Finance Minister Arun Jaitley talks on cryptocurrency in his Budget Speech on Thursday has left many confused and dazed. However, he added that the government is not against Blockchain technology. Experts on the cryptocurrencies have other views as they see the declaration of Finance Minister usual and nothing new. Ajeet Khurana, who recently took over as the Head of the Blockchain and Cryptocurrency Committee of India BACC , in an interview to YourStory said that there has been no indication by the government that it is banning exchanges. Neither does it stop people from holding a cryptocurrency. On why the government is so susceptible to the use of cryptocurrency, BACC head said that the major concern is an illicit use of cryptocurrency and have maintained this position. The bitcoin enterprises have been maintaining complete transparency through KYC and other procedures to reduce the illicit use of these. He further said that the government needs to come up with more clarification on the payment system.
Budget 2018: Arun Jaitley outlaws cryptocurrency
The Government will also explore the use of blockchain technology for ushering in digital economy. Does this impact all those who are already invested in the cryptocurrencies in India? Unocoin, a leading cryptocurrency exchange in India, refused to comment for the story but sources close to the founders suggest that it is business as usual for the exchange. They said that all transactions on Unocoin as legitimate and the government is only going after illegal activities to curb black money.
Arun Joseph
However, it can be difficult for decision makers to develop a practical approach to blockchain for their specific business requirements. By identifying and clearly describing the value of blockchain for enterprises, as well as the processes required to harness blockchain to achieve business objectives, Blockchain for Business presents a startlingly concise yet comprehensive roadmap for business leaders. This book is an excellent resource for anyone looking to leverage blockchain to transform their business. This book aims to fill that gap. In addition the great chapters on cybersecurity, I loved the Integration Models, especially 'Coexistence with Systems of Record.
Arun Jaitley on Bitcoin : India will never accept it as a legal tender
A person is no longer simply represented by name, gender, date of birth, and address. With the complexities involved, methods for identity management must also adapt. There have been talks about managing identity with blockchain in the previous year. People are known by their identities. Hence, identity drives every business and social interaction. Since the introduction of the Internet, digital identity has continued to evolve from the concept of centralized identity. According to Jai, we have yet to reach that fourth phase of self-sovereign identity. Identity data is typically decentralized.
There's also live online events, interactive content, certification prep materials, and more. Explore a preview version of Blockchain for Business right now. This book aims to fill that gap. It's an invaluable tool for anyone ready to take the plunge and start taking advantage of this remarkable technology.
This work follows design science research to guide the implementation of a blockchain-based proof-of-concept prototype that enables the automated transaction of real-world assets, such as cars, and provides a valid, transparent, and immutable record of vehicle history to market participants, authorities, and other third parties. The contribution of this study to existing research is threefold: First, it introduces a built-in mechanism to reduce transaction risk resulting from the irreversibility of transactions in blockchain-based systems. Second, it replaces a trust-based, centralized, and bureaucratic register with a tamper-free and autonomous transactional database system that comprises a secure registration and transaction process. In total, the findings in this article illustrate the potential of blockchain-based systems but also highlight technological shortcomings and challenges for commercial applications, such as scalability or privacy issues. Related works: This item may be available elsewhere in EconPapers: Search for items with the same title. GI Bibliographic data for series maintained by Sonal Shukla.
Blockchain technologies are transformational: they can enable enterprises to reinvent processes and business models, and pursue radically disruptive use cases. Many decision-makers and IT professionals don't understand blockchain others confuse it with cryptocurrencies like bitcoin. This concise, accessible handbook brings clarity and pragmatism to blockchain technologies and opportunities. Written from a business perspective by three of IBM's leading consultants, it presents real-world examples that demonstrate what blockchain can and can't do. Drawing on their unsurpassed experience, the authors survey the technology's current state, introduce industry-specific and cross-industry use cases, review approaches to implementation and governance, and preview emerging capabilities all with a relentless focus on real business outcomes, and no hype. A team of IBM's leading blockchain consultants focus on real business outcomes and transformations 2. Understand blockchain technology, ecosystems, business models, implementation strategies, governance, and emerging capabilities 3.
Since its introduction in , blockchain technology has outgrown its use in cryptocurrencies and is now preparing to revolutionize a multitude of commercial applications including value and supply chains, business models, and market structures. This work follows design science research to guide the implementation of a blockchain-based proof-of-concept prototype that enables the automated transaction of real-world assets, such as cars, and provides a valid, transparent, and immutable record of vehicle history to market participants, authorities, and other third parties. The contribution of this study to existing research is threefold: First, it introduces a built-in mechanism to reduce transaction risk resulting from the irreversibility of transactions in blockchain-based systems.
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