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Why go trustless?

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The idea of distributed ledger technology (DLT) is appealing because it is as close to ‘trustless’ as we can get. Imagine a world where you have true autonomy or freedom and outcomes are not decided by centralized intermediaries. For with people or institutions, there is always the possibility of various cognitive biases creeping in. In such instances, decisions are often influenced by individual value systems, vested interests and personal preferences. In other words, there is a good chance that a centralized third party’s decision is not for the greater good and is determined by the whims and fancies of a select few.  Once DLT works as envisaged and becomes truly autonomous then a neutral framework or mechanism could lead to more efficient end results. Outcomes would simply be due to action and consequence within a set framework. A form of a trustless network that is gaining widespread adoption is the blockchain, and myriad cryptocurrency entrepreneurs would delve into great
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Is the crypto regulation scenario of India getting better?

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The Reserve Bank of India, India’s central bank had passed a circular last April that imposed a banking ban on crypto businesses. This announcement had hit the crypto businesses based out of India the hard way. Consequently, some crypto exchanges had to shut down their operations in the country and move their base elsewhere. On the other hand, the remaining crypto exchanges have either opted for layoffs to manage their finances or tried to figure out creative ways to combat the problem of banking ban such as launching peer-to-peer exchange-escrowed services.  The crypto community of India had filed a plea to the Supreme Court to lift the banking ban imposed by the RBI. However, the hearing date has been postponing ever since. Reiterated deferral has built panic among the crypto and blockchain enthusiasts of India. Last time, when the case was scheduled to be heard, the judge heard it for a few minutes or seconds (if the sources are to be believed). The court was adjourned due
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Why invest in cryptos?

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Cryptocurrencies have oft been perceived as being mere instruments of speculation. And rightly so, as without several tangible real-world use cases, there has been a pertinent lack of strong fundamentals driving this emerging market. It could also be argued that the early crypto 2018 rally was owing to the hype surrounding the potential use cases for digital assets. Come 2019, and cryptocurrencies as a form of technology have to prove themselves. Especially how they could potentially help change the approach towards life, industry and commerce for the greater good. Despite a recent surge, the market is still at a fairly low and espouses the potential to garner hundreds of billion dollars in investment. This presents a significant opportunity for investors who want to get into the market. So, why invest? Weathering the storm: It is pragmatic to invest in crypto assets during a bear market, and cryptocurrencies have established their uncanny ability to garner significantly
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Is cryptocurrency industry of India lagging behind?

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Cryptocurrency industry of India had been flourishing until the unexpected decision from the Reserve Bank of India (RBI) emerged. The RBI had directed the banking institutions to terminate transactions with the cryptocurrecy exchanges. This decision came as a shock to the cryptocurrency fraternity of India. The progressive days almost came to a halt for some cryptocurrency exchanges. They had to shut their operations in India. One of the instances that can be cited is Zebpay. It closed down its operations in the nation on September 28, 2018 and moved its base to Malta. In less than 6 months, another prominent cryptocurrency exchange of India, Coindelta closed down its services. In a recent statement, Coindelta founder Shubham Yadav has mentioned that the exchange is not contented with the efforts of reversing the harsh decision of the RBI. He added that it demanded more work which did not happen in the due course of time. Hence, the operations of the exchange had to be called
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How to make crypto mainstream?

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Although half of the population of the world is available online yet only 1% or less use or own cryptocurrency. This signals that mainstream adoption of cryptocurrency is a far-off reach. Before we get into proposing the solutions, let’s take a quick look at the key factors that lead to the adoption of a ground-breaking concept of economy. These four factors play a pivotal role: accessibility, security, transparency, and human touch.  A renowned crypto enthusiast based out of India believes that the global economy can be redefined with the help of the four aforementioned factors. He is bullish that the factors will act as pillars in building a crypto-driven economy. When there is a comparison between the conventional economy and the blockchain-powered economy, the latter seems more complex. The reason behind it is complicated cryptography and intricate codes that go into it. However, many of us are unaware that the conventional finance system conceals the intricacies. The
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The Regulatory Scenario in the Cryptocurrency Space

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The debate has been going on for long about cryptocurrency being legalized by countries. Cryptocurrency evangelists have been of the opinion that cryptocurrency can solve numerous problems in the traditional financial industry. According to them, cryptocurrency can lead to an efficient payment system, especially for cross border transfers. Cryptocurrency can enable quick transfers saving the time, eliminate middlemen lowering the costs, and help maintain a trusted database of transactions on the blockchain network. On the other hand, several financial regulators of different countries are of the opinion that cryptocurrency can lead to financial instability as the digital coins are volatile in nature. Moreover, due to the decentralized nature of the transactions, it will be difficult to keep a check on all the financial activities to prevent any terrorism funding activity. Cryptocurrency, not involving a centralized governing authority and regulatory body, make transactions
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The Emergence of Blockchain Academies in India

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The blockchain is a nascent technology in India. It is very recent that the Government of the nation and the business masterminds have started taking interest in the technology. One of the greatest reasons behind imperception was lack of relevant knowledge. If the blockchain technology is to be adopted widely by the mass of India, then blockchain-based education is a must.  A popular blockchain enthusiast from India stated, “For imparting in-depth knowledge of blockchain to the citizens, it is indispensable to have blockchain academies in India.” Not many people are aware that India houses a few academies that are dedicated to offering courses in blockchain technology. Nevertheless, the establishment of blockchain academies in the nation is a recent advancement. Every Indian blockchain expert firmly believes that the mainstream adoption of the blockchain technology is only possible with the help of more number of blockchain academies in the nation. It is due to the hard wo
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