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 product/s.

  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 read my article on crypto banks. Lot of bank

  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 any crypto related

 Bitcoin, Cryptocurrencies and Blockchain  Q. What is Bitcoin ? A. Bitcoin is a form of digital cash / currency / asset coded in computer language. In other words, it is a computer code. There is no central authority / bank which controls it like in fiat currencies which are controlled by the central bank of any country. Financial system of Bitcoin is run by thousands of computers distributed around the world forming   an eco-system   where anyone can participate in decentralized manner. Bitcoin is the king of cryptocurrencies and first one of all cryptocurrencies in market. It was announced in 2008 and launched in 2009. Users can send and receive digital money (in form of bitcoin or cryptocurrencies) to anyone, anywhere / from anyone, anywhere without the involvement of any bank or financial institution and that is with in minutes.   Bitcoin is decentralized, censorship-resistant, secure , and borderless. It was launched in 2009 by an individual or group known by the pseudon

Crypto Banks Vs. Traditional Banks   Hi Friends,   I hope you must have enjoyed reading my previous article on “Cryptos & Blockchain Vs. RBI” in my blog & linked in . Being revised here for a while, I had mentioned about the “Regulatory aspect & not the Banning aspect” to be looked after by the Indian Govt., on 19.05.2021 there is a news from the Govt. Circles that Govt. Has set up a Panel of experts to look in to the Regulatory aspect instead of banning it. I talked about the arrogant behaviour of RBI towards Cryptos and this report clearly shows about my positive opinion.   Now, please enjoy my next article “Crypto Banks Vs. Traditional Banks”. Crypto Banks Vs. Traditional Banks A Banking system is a network of financial institutions where one can deposit and withdraw money.   To understand this article, let’s understand the terms : Crypto banks, Traditional banks, Blockchain banks based on blockchain technology, Crypto wallets, etc.... Crypto Banks : In si

  Cryptos & Blockchain Vs. Reserve Bank of India Hi Friends !!!   Great Suspense !!!   ü    What RBI will do with Indian Crypto Industry ? ü    What Govt. Of India will do with Indian Crypto Industry ? ü    Who will win – Indian Crypto Industry or RBI ?   “All these billion dollar questions”............   Look at the attitude or say behaviour of RBI towards Crypto currencies specially private crypto currencies. In the entire World only RBI has given a distinct name to crypto currencies  - Private crypto currencies and Public crypto currencies, otherwise every one recognises it as crypto currencies operated under different blockchains and CBDC (Central Bank Digital Currencies). RBI says crypto currencies which are not issued by or owned by Central Bank of India (RBI) are all private crypto currencies and such currencies should be banned from operations. This regulation is included in the Bill pending in the Indian Parliament for approval. Now here, let’s discuss in brief about  Bloc