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Blockchain - Wikipedia

Blockchain - Wikipedia

For other uses, see Block chain (disambiguation) . Blockchain formation. The main chain (black) consists of the longest series of blocks from the genesis block (green) to the current block. Orphan blocks (purple) exist outside of the main chain. A blockchain [1] [2] [3] originally block chain [4] [5] is a continuously growing list of records , called blocks, which are linked and secured using cryptography . [1] [6] Each block typically contains a hash pointer as a link to a previous block, [6] a timestamp and transaction data. [7] By design, blockchains are inherently resistant to modification of the data. Harvard Business Review defines it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way." [8] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance . Decentralized consensus has therefore been achieved with a blockchain. [9] This makes blockchains potentially suitable for the recording of events, medical records, [10] [11] and other records management activities, such as identity management , [12] [13] [14] transaction processing , documenting provenance , or food traceability . [15] The first blockchain was conceptualised in 2008 by an anonymous person or group known as Satoshi Nakamoto and implemented in 2009 as a core component of bitcoin where it serves as the public ledger for all transactions. Continue reading >>

The Daily: Bitcoin Enters Indian Politics, Blockchain Obsession Grows

The Daily: Bitcoin Enters Indian Politics, Blockchain Obsession Grows

The Daily: Bitcoin Enters Indian Politics, Blockchain Obsession Grows On the backdrop of recent developments concerning the status and the future of cryptocurrencies in India, Bitcoin has been dragged into a political scandal between the countrys two major parties. Weve covered the story in todays Bitcoin in Brief. Also in the daily, check the details around some BCH-related projects and services, as well as the latest incarnations of the blockchain technology. Also read: Bittrex Invades Europe and Blockchain Gets Raunchy With all the emotion surrounding the fate and future of cryptocurrency in India, it was just a matter of time before Bitcoin entered big politics and big scandals in Delhi. This week, the Indian National Congress (INC), one of the two leading parties in the country, accused its major political opponent, the ruling Bharatiya Janata Party (BJP), of being complicit in a bitcoin scam. On Thursday, INC spokesman Shaktisinh Gohil demanded a judicial probe into an alleged money-laundering scheme using the cryptocurrency. A Massive Bitcoin Scam of more than 5000 Cr has surfaced in Gujarat via @Siyasat Network Shaktisinh Gohil (@shaktisinhgohil) July 6, 2018 During a press conference, the Congress representative claimed BJP leadership participated in a scam in the state of Gujarat involving the conversion of black money through hawala and bitcoin transactions. According to Gohil, the massive multi-layer extortion and hawala scam was carried out by some top BJP leaders to the tune of at least 5,000 crore rupees, almost $730 million, Crypto News reported. However, he also quoted local press mentioning figures of up to 88,000 crore rupees, close to 13 billion USD. One of the main allegations is that BJP politicians have used bitcoin to convert illicit money and t Continue reading >>

India To Embark On Nationwide Blockchain Infrastructure Platform: Report

India To Embark On Nationwide Blockchain Infrastructure Platform: Report

India to Embark on Nationwide Blockchain Infrastructure Platform: Report Niti Aayog, the Indian governments think tank, is reportedly set to launch IndiaChain a nationwide blockchain infrastructure that will enable both government and private companies to build applications on the platform The National Institute of Transforming India (NITI Aayog), Indias primary policy institute and think tank, is readying the launch of a massive blockchain project, dubbed IndiaChain, that will be deployed as an interoperable platform to allow private developers and companies to build blockchain-powered applications in the public domain, FactorDaily reports. The influential government think tank is also working on a whitepaper currently, with an official stating: The work on the blockchain paper is in full swing now and hopefully it will be out by the end of the month or beginning of July. NITI Aayog officials have compared the scale of the blockchain project to that of the countrys massively-successful united payments interface (UPI), a software layer that enables instant payments between domestic bank accounts. Indias UPI is unlike any other major nations domestic payments system, in that it offers zero-cost, instant bank transfers between bank accounts with a virtual payment address (example: [emailprotected] ) and has proven to be a resounding success. Developed by the National Payments Corporation of India (NPCI), the softwares API (application programming interface) has been used by technology giants including Google and Amazon to release their own money-remittance applications that are being used by millions in the country. NITI Aayog will deploy IndiaChain with a similar roadmap that will see the government build a few initial applications before allowing private companies with Continue reading >>

Blockchain

Blockchain

We are on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Our technology is revolutionizing the financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries. We are on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Continue reading >>

Blockchain & Bitcoin Conference Bengaluru

Blockchain & Bitcoin Conference Bengaluru

Theme: VISITORS REGISTRATION AND WELCOME COFFEE 22 February, 09:00 22 February, 09:00 Theme: MODERATOR'S CLOSING REMARKS AND SUMMARY OF CONFERENCE Business Development leader | Deal maker | Adviser | Entrepreneur 22 February, 17:10 22 February, 17:10 Jignesh brings over 20 years of Business Development leadership in Banking & Capital Markets space. He has closed several high impact solutions deals with top Wall Street banks that have helped re-imagine their businesses. He is a passionate entrepreneur, advisor to high-growth technology ventures, and an early-stage investor. Theme: ICO regulation in European Union and Switzerland 22 February, 10:10 22 February, 10:10 Arnab is the co-founder and CEO of SICOS, an ICO advisory entity based in Luxembourg. He is working on academic issues related to smart contracts and ICO market. He is an organising member of the Innovationsforum Blockchain Hamburg and is also a founding member of the Blockchain Bundesverband. Arnab is a qualified Indian lawyer having experience in corporate finance, corporate structuring, competition laws. Has rich experience of working with cross-cultural teams, having worked with clients from several geographies including Germany, United Kingdom, South East Asia. Theme: Government's position on Cryptocurrencies; its legal implications & possible outcomes Advocate at Supreme Court & Bombay High Court 22 February, 10:40 22 February, 10:40 A pioneer in Cyber Laws, Ms. N. S. Nappinai has demonstrated depth of knowledge in each field of her specialization in Constitutional, Criminal (predominantly white collar / corporate criminal cases & Cyber Crime cases), Intellectual Property Laws (IPR), Technology Laws, Corporate & Commercial Laws; known for her strong ethics, hard work and unstinting commitment to law; C Continue reading >>

Court Says India's Crypto Exchange Bank Account Ban Will Continue

Court Says India's Crypto Exchange Bank Account Ban Will Continue

Court Says India's Crypto Exchange Bank Account Ban Will Continue Jul 3, 2018 at 15:11 UTC|UpdatedJul 3, 2018 at 15:14 UTC India's highest court has declined to end a ban enacted by the national central bank that bars the country's crypto exchanges from doing business with regulated financial firms. Bloomberg reported Tuesday that the Indian Supreme Court, led by Chief Justice Dipak Misra, said that the Reserve Bank of India's (RBI) prohibition on providing services to crypto-related businesses will "remain implemented." The decision continues the ban, announced in April 2018 , when the RBI said that financial institutions would not be allowed to work with exchanges or related firms.It gave the banks three months to exit that market, making July 6 as the official start date for the ban, as previously reported by CoinDesk . The policy shift prompted moves by members of India's cryptocurrency ecosystem to launch a series of legal challenges.But, as CoinDesk reported on May 22, the Indian Supreme Court barred all other courts from accepting petitions, after five similar petitions were filed against the RBI. At the time, the Supreme Court said it would hold a hearing on July 20. According to Quartz , the hearing was held on July 3 instead of July 20 after the Internet and Mobile Association of India (IAMAI), which counts bitcoin exchanges as its members, requested an early hearing. The RBI claimed during the hearing that cryptocurrencies, including bitcoin, cannot be treated as currency in India as the country's law requires coins "to be made of metal or existing in physical form and stamped by the government.' The Supreme Court fight isn't over yet, as the July 20 hearing is still set to take place. The leader in blockchain news, CoinDesk is a media outlet that strives fo Continue reading >>

Bitcoin - Open Source P2p Money

Bitcoin - Open Source P2p Money

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part . Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. Continue reading >>

Canada: India Could Lead 'blockchain Revolution'

Canada: India Could Lead 'blockchain Revolution'

Canada wants to help India lead 'blockchain revolution' by Rishi Iyengar @Iyengarish February 21, 2018: 8:04 AM ET Forget bitcoin, these are the 8 craziest cryptocurrencies India and Canada are linking up to promote the technology behind bitcoin and other cryptocurrencies. Canadian government-backed researchers are joining forces with India's vast tech industry to explore the use of blockchain in government and academic institutions, as well as businesses. India's tech industry association Nasscom and Canada's Blockchain Research Institute (BRI) said they would also create a center of excellence in India to provide "high-end technology capabilities." The announcement coincided with Canadian Prime Minister Justin Trudeau's visit to India this week. Blockchain, an internet-based ledger that keeps a public record of online transactions, is being touted as the future of the digital economy for its wide range of potential applications . India plans to use it to digitize everything from land records to healthcare, the head of a government-run think-tank said on Twitter earlier this month. But blockchain is still best known for providing the platform for virtual currencies such as bitcoin and ethereum. Related: India could be a buzzkill for bitcoin Canada's BRI, whose stated goal is to "build blockchain-based economies around the world," also touted India as the next big frontier for the technology. "We see our coalition with Nasscom as a delightful opportunity to nurture the blockchain community in India," Don Tapscott, the institute's founder and executive chairman, said in a statement. "We strongly believe that India has the potential to lead the blockchain revolution," he added. Canada has become an attractive destination for bitcoin "miners," who use computer algorithms Continue reading >>

Budget 2018: India's Government Wants To Kill Bitcoin, But It Loves Blockchain Quartz

Budget 2018: India's Government Wants To Kill Bitcoin, But It Loves Blockchain Quartz

Andhra Pradeshs neighbour, Telangana, too, is digitising its property documentation system . Beyond land registries, blockchain can also put an end to other fraud like identity theft. To reduce the chances of getting hacked, a growing concern in India, the web-based platform can manage digital IDs. Currently, if you sign up or pay for something on the internet, you turn over unencrypted personal info that gets stored all over internetcreating a honeypot that attracts attackers to breach that service, Cary said. With blockchain, only encrypted, relevant information will be released whenever necessary. A step ahead of other states in implementing the technology for land registries, Andhra Pradesh also entered into a partnership with cybersecurity firm WISekey , making it a frontrunner in securing citizens data as well. Recently, the Maharashtra government called upon industry leaders, researchers, and others to devise ways of incorporating blockchain in e-governance operations. The government is one of the biggest data creators and data consumers. Blockchain will bring in more efficiency, transparency, accountability, and accessibility in data flows, the states chief minister, Devendra Fadnavis, said at the Maharashtra Technology Summit (MTech) on Jan. 17. Amid all the talks of curbing cryptocurrencies, Indias central bank, the Reserve Bank of India, still believes that blockchain technology is ripe for adoption . Banks in India are already relying on blockchain to enable overseas transactions, international remittances, and other processes. The spread of blockchain use in the private sector use of in industries like insurance, healthcare, manufacturing, among others, could also lessen significant burdens that befall the government. Capitalising on the block chain techno Continue reading >>

Indian Banking Authority Bitcoin Block Could Drive Crypto Underground | Digital Trends

Indian Banking Authority Bitcoin Block Could Drive Crypto Underground | Digital Trends

Posted on April 6, 2018 - 6:58AM 4.6.18 - 6:58AM Indias central banking authority, the Reserve Bank of India (RBI), has announced that it will cease doing any sort of business with anyone or any business that deals with cryptocurrencies. In the same breath however, it has made it clear that plans to create its own cryptocurrency continue unabated. IndiasMinistry of Finance has previously criticizedBitcoin for its volatility and lack of intrinsic value, as CoinTelegraph highlights , but this latest move by the RBI is the most impactful yet. It has given those currently involved in the cryptocurrency trade within India three months to sell off their remaining assets or relocate their business, as from that point the RBI will not support the trade of cryptocurrencies. The reasoning behind this move is said to be over concerns of consumer protection, market integrity, and money laundering. That last point was doubled down on in a press conference, where the deputy governor of the RBI said that cryptocurrencies undermined efforts to prevent money laundering. He also said cryptocurrencies have the potential to endanger financial stability if allowed to grow too large. Although the move doesnt outright ban cryptocurrencies doing so would be rather difficult, anyhow this end of service support is likely to have a big impact on Indias use of cryptocurrencies. The RBI regulates all banks within the country, so maintaining a bank account in India while trading in cryptocurrencies will be exceedingly difficult. This comes at a strange time in India since, while the RBI has criticizedexisting cryptocurrencies like Bitcoin, it has expressed interest in the underlying blockchain technology . Citing the escalating costs of dealing with, transporting, and producing physical money, it h Continue reading >>

Blockchain Foundation Of India

Blockchain Foundation Of India

A community effort to promote the growth of blockchain-based initiatives in India. BFI is the liaison between blockchain businesses, startups, venture capitals, industry experts, and technology enthusiasts in India connecting the community through events, conferences, meetups, and indoor meetings. BFI identifies, incubates, and accelerates promising startups innovating with blockchain technology to solve real world problems in India. Through its accelerator program, BFI ensures that the most innovative startups are able to find the right investors. BFI provides resources for organizataions and individuals exploring blockchain technology including publishing a journal, free online courses, and workshops for college and school students. BFI is a non-governmental organization committed to remain a neutral and unbiased platform uniting all stakeholders of blockchain technology in India towards the common goal of advancing economic growth in the country. BFI aims to create an open dialogue in India about blockchain technology and cryptocurrencies. Working towards that mission, BFI organizes conferences, events, meetups, workshops, online courses, and publishes a journal to disseminate accurate information about the technology. Given the regulatory uncertainty in India, a lot of blockchain startups in India end up without the required resources and support to be able to build their products successfully. BFI is filling this gap through its accelerator program by providing support to promising projects whether in funding through partnership with venture capitals (VCs), compliance with the regulatory framework, or other kinds of technology or business mentorship required by the startups. The vision of BFI is to oversee comprehensive blockchain implementation in every sector wi Continue reading >>

Does Bitcoin/blockchain Make Sense For International Money Transfers?

Does Bitcoin/blockchain Make Sense For International Money Transfers?

Bitcoin money transfer is usually discussed in either sensational or downright misleading way. There is a significant category of Bitcoin or, currently more popular, blockchain stakeholders and observers who seem to be completely vested in this innovative products awesome potential and are unable to entertain a deviating opinion. This very smart and capable, but, unfortunately, close-minded group believes that Bitcoin cancels a need for regulation and would soon destroy Visa, Western Union and banks. Articles written for and by such audience are easy to find, and we will not link to them to avoid enabling such either outrageously ignorant or deceptive opinions. Rational view of Bitcoin/Blockchain for sending money In this context, we are always grateful to find discussion about Bitcoin/Blockchain for remittances which attempts to be more objective. Here are some examples: Bootstrappers guide to bitcoin remittances , Tackling bitcoin price swings OR However, even more reasonable experts seem to be de-emphasizing a fundamental diversion in understanding of Bitcoin/Blockchain value that shall be considered for its potential in international money transfers. Here are the key points made by proponents, usually taken at face value. Large segment of consumers is suffering without Bitcoin/Blockchain money transfer The unexpected tragedy of the financial system is quite representative in this regard. What is common about these articles is seemingly absolute lack of a field research or basic customer surveys. For example, there are monthly government reports that analyze consumer complaints about providers of financial services. Reading such report for the US market, there are relatively few complaints about money transfers and most of those are centered around fraud, not exactl Continue reading >>

A Law-abiding Blockchain Alternative For Indias Financial Exchanges

A Law-abiding Blockchain Alternative For Indias Financial Exchanges

A Law-Abiding Blockchain Alternative for Indias Financial Exchanges On April 5, 2018, a blow to bitcoin occurred when the Reserve Bank of India (RBI) banned banks and regulated financial entities from dealing with cryptocurrency. Despite the media report that 10 percent of Bitcoin transactions happen in India, the news does not come as a surprise, considering how the nation has clamped down on cryptocurrency regulation so far this year. Since 2013, the nations financial regulators have warned about the difficulties of controlling cryptocurrencies and, like most other stricter regulatory governments, preventing the new asset classes most nefarious use cases: money laundering and terrorist financing. The Indian regulators treatment of cryptocurrency is even less of a surprise when considering what they have done in the past to their own fiat currency, the Indian rupee. Back in 2016, the RBI announced the demonetization (stripping a currency of its value) of all 500 and 1,000 banknotes of the Indian rupee, stating the action would help crack down on murky shadow economy activity (counterfeiting, terrorism, etc.). Based on this information, its not a stretch to assume that a seemingly anonymous and sovereignless computer currency should seem out of RBIs monetary policy comfort zone. Taking the time to perform due diligence might also be a detracting task for a government that wants to maintain tight regulatory control but also has other, more politically crucial projects to execute. In a 2018 world economic report , the International Monetary Fund stated that Asia accounted for over half of the worlds economic growth within the last year; within Asia, India has been recognized as the fastest-growing nation. Another report indicated that to meet its accelerating growth, Ind Continue reading >>

Hello India, My Vision For 2017. Bitcoin, Blockchain And Cryptocurrencies

Hello India, My Vision For 2017. Bitcoin, Blockchain And Cryptocurrencies

Accelerator Asia Banking Bitcoin Blockchain Business Cutting Edge Developers Education Entrepreneur FinTech Future Trends Leadership Start Ups World News Great guest post by Amit Bhardwaj Entrepreneur, Investor, and Dreamer | Bitcoin Pioneer | Proud Indian. Amit is one of the backers of the imminent Satoshi Studios blockchain incubator, currently open for applications. See more here , we will also be featuring an interview with him soon, but we thought this guest post would help give you an idea of what he is interested in and working on. I have been a blockchain enthusiast for more than 3 years now. I have seen years end and start and blockchain enthusiasts passionately claiming the coming year to be theirs. And we hear something very similar this year, the ubiquitous roar that 2017 will belong to blockchain, the coming year bitcoin shall rise to so and so price and so on. But from my personal opinion, the voices are louder, more diverse than ever and the enthusiasm fuelling their voices is less of hope and more of jubilation, more like of the song the crowd sings when youre 3-1 or 2 -0 ahead in a game and your team is defending the last 2 minutes of the champions league. And the reasons for this pragmatic optimism and not just hope lie in the wonderful year 2016 has been for blockchain enthusiasts. Are you a blockchain innovator looking for investment? Satoshi Studios, South East Asias First Blockchain Incubator opens In 2016, price of bitcoin rose from $430 to almost $1000 . And this is an increase that did not happen overnight owing to some change in policy by a major government but a price that has grown slowly and steadily on a trading volume of over $55M weekly. A volume which is about 100 times the trading volume that prevailed when Bitcoin last hit this range. Continue reading >>

Bitcoins | Rbi: View: Rbi Should Not Let India Left Behind In Technologies Like Blockchain And Bitcoins

Bitcoins | Rbi: View: Rbi Should Not Let India Left Behind In Technologies Like Blockchain And Bitcoins

Central banks and banking systems across countries have been seized of the existing and possible impact of this technology. The disruptive ability of blockchain technology, especially its visible manifestation the bitcoins is well known. On April 6, 2018, RBI exercised its statutory powers to comprehensively prohibit all regulated entities from dealing with bitcoin and its providers. The ban includes facilitation of clearing and settlements, maintaining accounts, registering trading, settling and clearing, loaning against virtual tokens, accepting bitcoin as collateral, opening accounts of exchanges of bitcoins, etc. Earlier, on Feb 1, 2017 and December 5, 2017, RBI cautioned public on the matter. Central banks and banking systems across countries have been seized of the existing and possible impact of this technology. Several central banks like Bank of England (working paper 605 of 2016) and commercial banks have articulated their approach. What could be the causes of concern, caution and discussions? It is pertinent to examine. One of the primary roles of a central bank is to preserve and protect the monetary system and ensure its smooth functioning. This role includes currency management, clearing and settlement, overseeing activities of banks which are custodians and operate upon the values of monetary instruments. Larger related responsibilities are around the balance of payments (BOPs), preventing misuses like money laundering, drug trafficking, etc. All these are anchored on currency as a unit of account, store of value and medium of exchange. In a classical central banking structure and banking system, either physically or electronically, these characters of the currency are decipherable, controllable and intervenable. Blockchain is a paradigm shift. With instr Continue reading >>

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