Cryptos N Coffee

  TOKENIZATION, NFTs Tokenization:   ·       What is Tokenization? ·       Meaning of Digitization ·       How Digitization is different from Tokenization? ·       Future of Tokenization   NFTs (Non-Fungible Assets):   ·       Meaning of Fungible assets ·       Meaning of Non-fungible assets ·       Meaning of Non-fungible tokens ·       How NFTs accrue values? ·       Are NFTs a Fad? ·       Future of NFTs ·       How to buy NFTs? ·       Use cases of NFTs ·       Story of CryptoKitties ·       Popular FAQs : Ø   What is Minting in NFTs ? Ø   What are the legal rights of the buye...

  What is Decentralized Finance & Risks Involved in it? DeFis & Risks DeFi : Decentralized Finance   During the early stages of crypto development, there used to be Bitcoin only. Then general perception about crypto was that crypto does nothing, it’s a place of gamblers.  Even I remember about myself when during 2012, I was in a book fair at Pragati Maidan in Delhi to buy some books. I saw a book ‘Bitcoin – Profit Making Strategies’, but i did not buy even though I am addictive to books. The reason of not buying was that Bitcoin is for gamblers.  But now, with the development of DeFis – people stopped saying such things. What is Decentralized Finance?   Basically, it’s system of finance where various players from finance world participates. Such players may be like banks(lenders/borrowers), pooled entities, providers of financial instruments/negotiable instruments, entire space connected to finance companies, etc.  As on date the entire ...

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...

 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 gr...