Cryptos N Coffee

Use of blockchain in general :    Nobody knew blockchain until bitcoin was developed in 2009 and only then blockchain technology started getting attention. Normally blockchain is known as distributed ledger that records and protects digital data through the use of cryptography. The said technology is applied for network of digital currencies (cryptocurrencies), but its decentralized and secure nature make it a powerful tool for many other industries (i.e. supply chain, charity, trade finance, gaming, tourism, health, medical, etc.). One of the innovative ways of blockchain use cases is in the supply chain management in the liquor industry. It is well known fact that liquor industry is highly profitable industry in the world but that is highly susceptible to counterfeit products. Faster recalls of products and combating counterfeit products are the major reasons for the renowned organisations to allow the use of blockchain technology in the supply chain management of the pr...

  Nobody knew blockchain until bitcoin was developed in 2009 and only then blockchain technology started getting attention. Normally blockchain is known as distributed ledger that records and protects digital data through the use of cryptography. The said technology is applied for network of digital currencies (cryptocurrencies), but its decentralized and secure nature make it a powerful tool for many other industries (i.e. supply chain, charity, trade finance, gaming, tourism, health, medical, etc.). Here are some innovative ways how the industries are harnessing the power of blockchain technology for the benefit of the respective industries to save upon operation costs in millions of dollars, to save upon operation time for execution of transactions, to relate how the product relates to it’s origin, etc.   I am going to list down certain use cases of blockchain with little descriptions for few of them.   1.        Banking : Please ...

  What ICICI Bank has done : Indian Bank Blocks Use of RBI's Remittance System for Crypto. Hi Friends, I am writing this in continuation to my earlier article titled “ Cryptos & Blockchain Vs. Reserve Bank of India”.    https://cryptosncoffee.blogspot.com/2021/05/cryptos-blockchain-vs.html Today there is news about India’s biggest private sector bank ‘ICICI Bank’ how it has fabricated FEMA and RBI’s Liberalised Remittance Scheme (LRS) to show it’s ulterior moves towards Crypto industry in India. ICICI has started asking it’s customers not to use RBI’s scheme of LRS for buying / making investments in cryptocurrencies.   ICICI , a leading private bank in India, has updated its retail outward remittance application to include cryptocurrency.   By doing so, the bank indirectly is asking its customers to declare under India’s Foreign Exchange Management ACT 1999 (FEMA) that they will not use the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) for...