CryptoCurrency Entrepreneur

Blockchain Summit India 2019 was held recently at the IIM Lucknow Noida Campus. It was a two-day summit from 22-23 February. The summit was inaugurated with welcome speeches by Suresh Prabhu (Honorable Minister of Commerce and Industry, Government of India), Nitin Seth (CEO, Incendo Inc. & Ex-COO Flipkart), Sanjay Kumar (Chief General Manager, HPCL), Kumar Gaurav (Chairman, Auxesis Group) , and Prof. Akbar Ansari (IIM Lucknow EIC). The summit is the first version of the Vision Blockchain 2030 initiative. The summit received support from the Government of India’s Department of Science & Technology and Uttar Pradesh State Government.  An overwhelming 2300 people participated in the summit. More than 80 global blockchain speakers and influencers addressed the participants in the summit. The summit not only attracted bureaucrats and representatives from various ministries but also audience from every walk of life such as entrepreneurs, policymakers, VCs, academicians,...

Technology is one of the spaces that has always been progressive with the coinage of new terms. Late 2018 has been exciting for the people closely associated with this space. MediaPost conducted a survey according to which “blockchain”, the buzzword in the crypto space topped the list of the overrated words, leaving “Artificial Intelligence” (AI) and “Programmatic” behind.   Nevertheless, it’s appalling to have the most talked word topping the list especially when 2018 was termed as the year of the blockchain. Precisely speaking, back during this time last year, almost every company looked forward to including blockchain either in their wish list or in their plan pipeline. This year, the scenario is radically different. Why not know the reason from the blockchain experts ? One reason that has been commonly heard from every blockchain leader is not a cosmic connection of course, but another c-word connection called crypto connection. So, the issue stemmed from cryptocurrency...

Gerald Cotten, the founder of a cryptocurrency exchange Quadriga CX died in India last month on December 9. Gerald Cotten had filed a will on Nov. 27, 2018, as per which all his assets will be managed by his wife, Jennifer Robertson. He created the will only 12 days before his death making his wife the executor. However, this is not the major reason for the controversies being created.   Gerald Cotten had the passwords to the wallet that had Quadriga CX  users' assets stored. The wallet had C$190 million or $145 million of Bitcoin, Litecoin, Ether and other cryptocurrencies. The password was only known by Cotten himself which means that all the cryptocurrencies in the wallet are lost as the password cannot be retrieved. Cotten owes to 115,000 registered users who have an account balance with Quadriga CX as he was the only officer and director managing the exchange wallet. Quadriga CX  owes C$190 million cryptocurrencies and C$70 million of cash to its clients....

How many cryptocurrencies do we actually need? That is the key question. Since today there exist over 2000 cryptocurrencies, according to coinmarketcap data and the number only appears to be growing exponentially. This freedom implies choice. If you look at this chart from 2014, only Litecoin and Ripple from the altcoins have managed to remain in the top 10. The rest have either faded into obscurity or have become far less relevant today. The extant Crypto Winter has been the longest yet and many altcoins may not survive the ensuing bloodbath. While certain Altcoins have performed significantly better than Bitcoin when it comes to offering a return on investment. However, there are various factors to consider and if we look at some of the previous trends, some very popular altcoins from a few years ago are now entirely worthless. These are some key pointers when it comes to cryptocurrency trends that most blockchain enthusiasts and cryptocurrency evangelists must pay careful attent...

The recent price crash of Bitcoin and an enormous amount of volatility in its trading price have given birth to a perception that Bitcoin is not only unstable but also unpredictable. Another drawback of Bitcoin that has drawn the attention of the crypto community is its inconsistent trading prices across cryptocurrency exchanges. This is precisely where the stablecoins have a pivotal role to play. Stablecoins are cryptocurrencies which aim to hold their value better than others in the crypto space, thus offering more stability to investors. Stablecoins have a unique characteristic of being redeemable for something else that is of tangible value, e.g; gold or regular fiat currencies such as US dollars. The underlying asset of stablecoins (i.e; the monetary value that the investors expect it to trade at) is normally deposited with a trusted bank. In case, people are confident about redeeming these coins in exchange for the said currency, and that the issuer has enough reserves for ...

India is among the fastest growing economies in the world today. Even so, the rupee is in dire straits and is among the weakest currencies in Asia. The current administration is worried that the advent of cryptocurrencies could create a parallel economy and has taken several steps to curb cryptocurrency trading. Presently, a panel comprising of officials from the finance ministry, the RBI, and India’s market regulator, the Securities and Exchanges Board of India (SEBI) have submitted their report to India’s finance minister, suggesting a new legal framework for cryptocurrencies. The actual content of the report are yet to be made public. According to the World Bank, India retained the top position as recipient of remittances with its diaspora sending about USD 69 billion back home last year. A rough ballpark estimate might bring the figure to USD 80 billion this year. Statistics by the World Bank highlight that around 25% of the remittance corridors charge commissions upwards of 10%...

Blockchain: Game-changer for India? The blockchain is one of the most sought after technologies today. From Fintech, Logistics, Automation to the Internet of Things, its use case are numerous. Especially in a scenario where cybersecurity has become the focal point of concern. Blockchain enthusiasts have a lot to look forward to. Understanding the Indian scenario India’s technological penetration is still woefully poor. For instance, t he fourth-generation (4G) penetration in India is at a mere 21% which is well behind the Asia Pacific average, according to global telecom industry body GSMA. The advent of Jio in September 2016 has helped create a much needed disruption in the telecom industry. Today, more than ever, telecom and internet are accessible to the general populace in the country.  For a country that intends to be a manufacturing hub, the pace of technological adoption needs to be much faster. Presently, the country lacks an electronics ecosystem b...