3 potential benefits of government blockchain

Blockchain, the technology behind bitcoin, could lead the fight against inefficient aid distribution. During my time working in Afghanistan, there was a hospital in Kabul that was so desperate for a single generator that it applied to multiple UN agencies for help. They received five. This is a familiar story — it happens all over development and humanitarian sectors.

We are searching data for your request:

Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

Content:

• Blockchain and Digital Currency in the World of Finance
• Blockchain For Governments and the Public Sector
• E-Government on Blockchain: About Obstacles and Chances
• Bitcoin price dips near $38,000, altcoins show mixed results
• Executive Summary
• End of the day for Meta's Diem cryptocurrency: What you need to know
• [MISSION 2022] SECURE 2022 : Daily UPSC Mains Answer Writing Practice: 3 February 2022
• The GovLab Selected Readings on Blockchain Technologies and the Governance of Extractives
• Bulls cheer Budget 2022; Sensex ends 848 pts higher, Nifty above 17,550
• The I.M.F. urges El Salvador to end its embrace of crypto as Bitcoin tumbles.

WATCH RELATED VIDEO: Why Blockchain Matters More Than You Think - Jack Ma, Bill Gates, Elon Musk, Vitalik-Simplilearn

Blockchain and Digital Currency in the World of Finance

Union Budget Cryptocurrency will support India's financial inclusion goals and also lower the cost and the speed of transactions all over the globe. Indian Union Budget New investors need guidance to invest in cryptocurrencies. India's crypto market has been increasing over the last few years.

With the current trends, more Indians and investors are expected to join the crypto revolution across all demographics. India is a country with diversified financial needs and having a cryptocurrency will promote the underlying benefits of this technology. The Crypto world has immense headroom to grow, and as access to new innovative investment opportunities emerges, it is expected to see a massive inflow of capital in this ecosystem.

The COVID pandemic uncertainties have granted significant attention to cryptocurrency, bitcoin, blockchain in India and across the world. Many started seeing digital currency as the future of finance. Gold, oil, and stocks were the major asset classes, but after the recession, the investors lost trust in these asset classes and Crypto appeared as a new trend. As far as the investors are concerned, a new type of 'diversifiers' has emerged in the last 18 months who are now increasing their exposure to new asset classes like cryptocurrencies.

When Elon Musk, CEO of Tesla and SpaceX, announced that he had bought dogecoin for his newborn son with Canadian musician Grimes, Dogecoin cryptocurrency had skyrocketed its value as it soared up by 16 percent. The perspective of day-to-day financial dealings is changing with a strong push for private currency to cryptocurrency. Cryptocurrency challenges this world of business and economy, forcing several governments to think about regulating the emerging world of a potential parallel economy.

In a country like India, where the population is more aware of traditional financial institutions, crypto finance enables financial transactions, making Crypto an emerging adopter to India. Cryptocurrency will support India's financial inclusion goals and also lower the cost and the speed of transactions all over the globe.

This will make the world less dependent on cash, and increase the mobility of money across the world. This sector has immense headroom to grow, and as access to new innovative investment opportunities emerges in Crypto, to see a massive inflow of capital in this ecosystem. Therefore, there is a need to create a framework for digital currency. India being a tech-welcoming nation, it is pretty positive that the regulators will develop policies supporting Crypto in this session.

Most importantly, it is essential for the RBI to take calculated steps to develop a systematic framework and safeguard the interests of the investors.

There are more than million crypto investors in India, a higher number than in any country in the world. India is a country with diversified financial needs and having a cryptocurrency of our own will promote the underlying benefits of this technology.

It is crucial for the bill to be approved by the government, and define the Crypto gains. Hence, the crypto industry will go unnoticed by the Finance Ministry. The government of India should recognize the economic reality of cryptocurrencies that will prevent the emergence of an anonymous parallel economy of black money by bringing cryptocurrency under the supervision and regulation of the RBI.

The budget would need to take calculated steps in developing a systematic framework and make systematic regulatory changes to ensure the viability of a community that has been vital to the cause of financial inclusion.

Follow us on Facebook , Twitter and Instagram. Union Budget NIP, schemes like Gati Shakti can focus on completing economic corridors which will propel India to become a global supply hub.

Union Budget The pandemic has accelerated the digitisation of the payment industry, augmenting the growth of digital payment platforms. Union Budget The better earnings prospects of most PSBs today coupled with more than adequate provisions on legacy stressed assets implies there is sufficient internal cash generation to fund near-term growth.

Firstpost Conversations 9 Months S. Home Business News Budget Need for a systematic framework for cryptocurrency to build financial ecosystem. The author is Co-Founder, Flint-crypto investment platform. Views are personal.

Business Budget Consider providing guarantees to financial institution, policy reforms to help private investment Union Budget NIP, schemes like Gati Shakti can focus on completing economic corridors which will propel India to become a global supply hub. Business Budget Widen digital payment ecosystem, ensure financial inclusion among unbanked population Union Budget The pandemic has accelerated the digitisation of the payment industry, augmenting the growth of digital payment platforms.

Business Budget Banks on a relatively strong footing; capital infusion not expected this time Union Budget The better earnings prospects of most PSBs today coupled with more than adequate provisions on legacy stressed assets implies there is sufficient internal cash generation to fund near-term growth.

Blockchain For Governments and the Public Sector

The emergence of blockchain technology holds tremendous promise for the U. Federal Government to foster trust and greater assurance and security as digitalization advances and threats evolve. Excitement around the technology is building as federal agencies begin piloting and testing blockchain applications for supply chain and procurement operations, record management, manufacturing, and cybersecurity. At Siemens Government Technologies, we have seen firsthand the powerful benefits blockchain can deliver for the Department of Defense DoD.

E-Government on Blockchain: About Obstacles and Chances

The Finance Minsiter also said that the Budget gives a blueprint of economy from India at 75 to India at , citing the four pillars of development — inclusive development, productivity enhancement, energy transition and climate action. The Finance Minister also said that there was a sharp increase in public investment and capital expenditure in Budget This Budget will benefit the youth, women, farmers, and the backward classes. The PM Gati Shakti master plan will guide the process, she added. Sitharaman, while presenting the Budget, said that the country is expected to grow at 9. The Finance Minister also said that there was a sharp increase in public investment and capital expenditure in Budget …This Budget will benefit the youth, women, farmers, and the backward classes. In a major push for digital currency, Sitharaman stated that digital rupee will be issued using blockchain technology by the RBI starting

Bitcoin price dips near $38,000, altcoins show mixed results

Several investors consider blockchain and Bitcoin to be the same things. But they are quite distinct in nature but are also somehow closely related. When Bitcoin was launched as an open-source code, blockchain was wrapped up together and was started being addressed as the same solution. Bitcoin and blockchain are being exponentially used in businesses for a variety of use cases, but both have very distinct functionalities which might prove helpful for respective business leaders, based on their individual enterprise requirements.

Executive Summary

Developing countries such as India, Kenya and others in East Africa are discovering an increasing array of applications for blockchain, the decentralized ledger technology that promises a secure, peer-to-peer mechanism for verifying information. Blockchain is finding innovative uses in banking and financial services, supply chains, agriculture and in managing land ownership records land titling in those countries, according to panelists who spoke at the Wharton India Economic Forum held recently in Philadelphia. However, many laws in both developing and developed countries have not kept pace with digital advancements, and they continue to require paper-based documentation, preventing participants from taking full advantage of the technology, they said. Participants in the network verify or validate the blocks, eliminating the need for a trusted entity like a regulator or an accounting firm to authenticate the information in them. According to experts, the blockchain is secure and tamper-proof by design because transactions cannot be changed once the network has verified them.

End of the day for Meta's Diem cryptocurrency: What you need to know

Readings developed together with NRGI , within the context of our joint project on Blockchain technologies and the Governance of Extractives. Thanks to Joyce Zhang and Michelle Winowatan for research support. We need your help! Please share any additional readings on the use of Blockchain Technologies in the Extractives Sector with [email protected]. By providing new ways to securely identify individuals and organizations, and record transactions of various types in a distributed manner, blockchain technologies have been heralded as a new tool to address information asymmetries, establish trust and improve governance — particularly around the extraction of oil, gas and other natural resources. At the same time, blockchain technologies are been experimented with to optimize certain parts of the extractives value chain — potentially decreasing transparency and accountability while making governance harder to implement.

[MISSION 2022] SECURE 2022 : Daily UPSC Mains Answer Writing Practice: 3 February 2022

Another important application developing as part of Blockchain 3. Many new and different kinds of governance models and services might be possible using blockchain technology. Blockchain governance takes advantage of the public record-keeping features of blockchain technology: the blockchain as a universal, permanent, continuous, consensus-driven, publicly auditable, redundant, record-keeping repository.

The GovLab Selected Readings on Blockchain Technologies and the Governance of Extractives

Download Report. The emergence of blockchain holds promise for the federal government to foster trust and greater transparency about certain data activities; but the technology is not a panacea. Blockchain must be used responsibly and under the right circumstances. Some conditions are well-established for when blockchain technology might improve trust, but program administrators must weigh other relevant points about how and when to consider applying the approach.

Bulls cheer Budget 2022; Sensex ends 848 pts higher, Nifty above 17,550

Topic : Effect of Globalization on Indian Society. Discuss the various implications of using digital currencies on Indian Society? Reference: Live Mint. To explain about CBDC, the technology behind it, its potential benefits and challenges from the societal point of view. Discuss — This is an all-encompassing directive — you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

The I.M.F. urges El Salvador to end its embrace of crypto as Bitcoin tumbles.

Facebook's parent and its partners are getting out of the troubled cryptocurrency project. It's the end of the day for Diem, Meta's troubled cryptocurrency. Facebook parent Meta and its partners in the Diem Association pulled the plug on the yet-to-launch cryptocurrency project amid growing resistance from regulators. Bloomberg had earlier reported that the association, which oversees the digital currency, was considering a sale of the project in order to return capital to its members.