Month: February 2020

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INSIGHTS OF CRYPTO VS. RBI

February 20, 2020 | Blockchain | No Comments

Blocklogy | INSIGHTS OF CRYPTO VS. RBI

Hello, Blocklogy Community Members.

Since you all are interested in the potentiality of Blockchain you might have heard about Crypto vs. RBI hearing. This article is the summary of hearings to date.

Indian Supreme Court heard the crypto case in detail over four consecutive days this month. In this intense argument, judges learned how other countries regulate this new sector.

Day 1 – 14th January 2020

Court called this hearing Crypto matter. Crypto matter hearing started at 3:40 PM, as directed by court Advocate Ashim Sood started the arguments from the beginning. Mr. Sood read out the RBI Circular and explaining the effect of this restriction. After, he explained the nature of Cryptocurrencies, along with DLT by taking examples of Banks and the disadvantage of centralization. He explained the consensus and how different nodes on a decentralized network authenticate the information and described how Blockchain is a type of DLT and the most secure tech.

At 4:02 PM, hearing ended for the day. It was a very optimistic discussion, and as expected Mr. Ashim Sood represented the Crypto ecosystem of India brilliantly with interesting and rightful points.

Day 2 – 15th January 2020

Day 2 hearing started with Mr. Ahsim Sood reading out the FATF guidelines in court at 10:58 AM. Then he read out the judgments from other countries and stated that Cryptocurrency is not recognized as legal tender. This means that doesn’t make it illegal as rumored.

In this hearing, Mr. Sood explained how bitcoin and bitcoin mining works to the judges. He stated that the opinion cannot be formed on imaginary grounds hence; there must be active an application of mind. And, if it is established that there is no material on record for forming of opinion by a regulator, the court may infer that authority has not applied its mind.

Day 3 – 16th January 2020

Hearing started at 10:58 AM, and the argument began with Mr. Sood pointing to judgment and says that a legal activity can be shut down only by a specific policy. And, if there is a risk then parliament must be first to identify that risk and not the administrative authority like RBI.

Mr. Sood stated that RBI does not have the power to “absolutely prohibit” crypto activities in India, emphasizing that taking away bank accounts constitutes absolute prohibition for crypto exchanges. As well, discussed the Financial Stability Reports

After a blazing argument Mr. Sood took the judges through the detailed comparative table about different countries, their regime nature and how they reacted to Crypto in their territories, he used an example of crypto treatment by Australia, Germany, Indonesia, Japan, etc.

And, at the end of the day, Mr. Ashim Sood concluded his argument.

Day 4 – 22nd January 2020

This hearing started at 11:07 AM, by Mr. Ahsim Sood clarifying his earlier made arguments on Financial Stability Reports.

Mr. Nakul Dewan joined in this hearing and opened his argument by giving a description of the Petitioners in his petition.

Exchanges business is completely dependent on the banking channel. If RBI cuts banking channels it directly cuts our activity. Everyone agreed that there are risks, but what could be proportionate measures. Counsel is reading out a report from his brief.

The fact was pointed out in this hearing that, even today Crypto is not banned in India. This means, there is a requirement of legal tender for anyone to enter in this crypto game. There are two major things that crypto does is that it creates the work of validation and the medium of exchange for the group of people who recognize the value in it.

The IAMAI counsel concluded that the RBI has adopted a kitchen sink approach, attempting to stop crypto activities indirectly since it has no direct control over the sector. The court is expected to resume hearing this week itself.

What do you think of the Crypto vs. RBI Supreme Court hearing?

If you support decentralization, don’t forget to check a newly launched Peer to Peer Decentralized Ecosystem called Era Swap Life

It is an ecosystem that consists of multiple interlinked platforms to create a self-sustainable marketplace for the betterment of society.

To know more about this Era Swap Life, check the below links.

https://eraswaptoken.io/blog/era-swap-life-an-ecosystem-for-blockchain-based-solutions

https://eraswap.life/

Source: https://medium.com/wazirx/heres-what-happened-in-the-crypto-vs-rbi-hearing-today-2329a7cb23d3

https://medium.com/wazirx/what-happened-in-the-crypto-vs-rbi-hearing-15th-january-2020-8c106ef0ac15

https://medium.com/wazirx/what-happened-in-the-crypto-vs-rbi-hearing-16th-january-2020-2a9438316382

https://medium.com/wazirx/what-happened-in-the-crypto-vs-rbi-hearing-22nd-january-2020-2e431095b9d3

Blocklogy | DECENTRALIZATION VS. CENTRALIZATION

Decentralization and transparency is one of the top benefits of using a blockchain protocol. The primary difference between a Blockchain and Database is centralization. While all data stored in the database is centralized, each participant on a blockchain has a secured copy of all records and all changes so each user can view the provenance of the data. Hence, your personal data is more secured on Decentralized Platforms.

Era Swap has developed a decentralized self-sustainable ecosystem, a peer to peer marketplace, where buyers and sellers can exchange services in a p2p mode without any third party interference. Era Swap Life is a single ecosystem consisting of multiple interlinked platforms created for Era Swap Community members where they can utilize their ES (Era Swap Utility), to buy and sell services.

Difference between Decentralized & Centralized Platform

Trust

  • While relying on centralized platforms you have to trust them blindly with your data. Since it is a centralized platform, it means that all your data is under the control of these giant corporations, which can manipulate and have access to them totally.
  • On a decentralized platform, you don’t have to worry about your data since decentralized platforms are synonymous with trustless. User doesn’t necessarily have to trust them because even if they want to access they cannot access users data since it is driven on smart contracts and stored securely.

Low-cost

  • Centralized organizations can suffer from the negative effects of several layers of bureaucracy. This means whatever you buy or sell, the cost you may include hefty middlemen charges, which will be distributed among extra multilayer middlemen’s and corporations.
  • Decentralized Platforms are known for their cut downs on costs and fees charged for various activities. Since decentralized platforms are powered on Blockchain, there are less of extra multilayer middlemen charges and more of transparency, security, and lower costs.

Transparency

  • Centralized platforms lack transparency because of its centralized nature. Because of its centralized approach, there is always a chance and risk to lose your data on the wrong hands. As well, because of its lack of transparency, the organization does not always notify users how and what they are doing with user’s data.
  • Decentralized platforms are transparent with their algorithm and not be overly present false statements because they are willing to test and make improvements with the community. Whereas centralized platforms will never share their algorithm or be transparent about how and what they are doing.

If you think this is time we should stop being relied on a centralized platform or you want to give a decentralized approach a try. Do Create Your Wallet on https://eraswap.life/ and, become a part of the Era Swap Life Ecosystem.

To know more about our interlinked platforms check below article https://eraswaptoken.io/blog/era-swap-life-an-ecosystem-for-blockchain-based-solutions

YouTube Channel https://www.youtube.com/channel/UCGCP4f5DF1W6sbCjS6y3T1g

Blocklogy | BLOCKCHAIN: FUTURE OF THE INTERNET

For more than 20 years the Internet was narrowed down to the usage of a few tech-savvy that knew how to navigate it. It’s only in 1993-94 that it became mainstream when Marc Andreessen created the Mosaic browser while studying at the National Center for Supercomputing Applications (NCSA) and brought the Internet to the general public allowing them to navigate the web comfortably with a positive user-friendly experience. And, for the first time user could establish an active presence over the internet by loading their own documents, photos, sounds, video clips, and hypertext “links” to other documents. And just like that, navigation of the internet started to have a meaning and it made sense to a layman.

Afterward, Marc Andreessen was on the team that created Netscape, the Internet browser that reached 38 million users in eighteen months breaking records, and the first dot-com company was made.

In the blockchain world, Bitcoin (2008) was the first application of the technology, the most disruptive, and its first wave of users, just like in the first internet era, was also more on the technical savvy side. Despite significant immunization of capital into the blockchain space, we have not had yet an incredible app or project that could compare to Mosaic or Netscape.

This is why we still believe to be in the early stages of the blockchain technological cycle similar to 1994 during the Internet Revolution, expecting more market cycles to happen in the upcoming years.

During the early days of the internet, people could actually communicate with each other without the need of a central company like Facebook or Google. Decentralizing the web simply means going back to the origin of how the internet was intended and promote a peer to peer communication again. In technical terms, it also means a shift in how information is stored and retrieved. While nowadays we use http and https links to identify information on the web by location, this will be done by content instead, making it easier for websites and files to be stored and passed around from peer to peer (computer to computer) rather than having one single server as a receiver and transmitter of information.

The financial services industry is up for serious disruption—or transformation, depending on how it approaches this issue. For the research for Blockchain Revolution, we went through and identified eight different things that the industry does: it moves value, it stores value, it lends value, it trades value, it attests to value, it accounts for value, and so on.

All these things can be challenged and can be better with the use of Blockchain.

Followings are the sectors that can utilize the immense potential of Blockchain technology:

Financial Services

The issue with today’s banking systems, as sophisticated as they are compared to decades past, is that they lack inclusion and fairness. Interest rates and transactions are heavily laid in favor of financial companies, and customers gain little & pay more. It gets worse when you realize that banking services are absolutely necessary. Hence, individuals are forced into unfair deals.

Blockchain can universally rectify the situation. With a smartphone and an internet connection, both of which are widely available, anyone can bank, start a business and receive payments. With no centralized authority & incorruptible ledgers for oversight, financial services on the blockchain would place power back in the individual’s hands, offering solutions without exorbitant interest rates and additional multilayer middleman fees. The banking industry even suggests that up to $20 billion can be saved by eliminating infrastructure and middlemen charges.

Real Estate

Blockchain integration with Smart Contracts can make finding and renting out a house seamless. Because it directly connects landlords with tenants, it removes brokers and their unreasonable fees from the rental equation. And, because of the auto-enforcing nature of Smart Contracts, it is a lot easier for potential tenants and landlords to connect, make decisions, establish, financial terms and offer payments.

With the implementation of Blockchain, we are aimed to establish a P2P network of hosts and guests. If blockchain is implemented users will be assured security and there won’t be problems of fake reviews, and data breach.

Healthcare

Data of individual patients are a crucial part of the medical industry. Secure storage and data access, which could be protected and make efficient diagnosis, is possible with blockchain. Since healthcare is a pillar of any national economy; the industry is difficult to modernize on a large scale and is hindered by legacy data management systems and outdated infrastructure.

Blockchain aims to provide cheaper and more efficient solutions to patient data processing.

Supply Chain Management

The Supply chain industry is one filled with many challenges, most of which are concerned with reducing rising costs and efficiently supplying products to retailers and customers. However, the industry faces several unmanageable obstacles.

Blockchain-based Smart Contracts offer a potential solution to this problem. Imagine if an industry as significant as the automobile industry utilized a system in which cars would be manufactured only when a fixed number of requests were received.

To eliminate the worry of overestimating demand and resource consumption, it is possible for funds to be locked into a contract, using Smart Contracts, whereupon manufacturers would begin production only after a certain number has been reached. As well, it will eliminate the middlemen by directly connecting consumers with manufacturers.

Government

There is a little need for decentralized systems in governance. In many parts of the world and, even in the USA which has been held as the gold standard for democracy since long, voting power is manipulated and twisted to favor parties or even certain individuals.

Using Blockchain technology a peer to peer governance protocol can be created, and only you, the voter have access to your voter information. Because of the transparent nature of the Blockchain, those in power will be held more accountable for their actions.

Insurance

Insurance policies are approved through the verification of the insured party’s data. The approval of insurance and payout of claims are still severe pain points for the industry. The insurance market has several layers of intermediaries; the process is inefficient and lacks ease of communication.

With the implementation of Blockchain we can encourage new business models, reduce risk through better data access, increase transaction speed & insurance approval, and of course, improve overall customer experience.

Publishing

Today’s publishing industry is largely in the control of a small group of publishers. It can be difficult for a yet unrecognized writer to break into the industry, and their success is dictated by the whims and fancies of these publishers.

Blockchain-powered platform can overturn the current system, where influence is in the hands of publishers, by using a tokenized system that recognizes the work of any writer. In the blockchain-based publishing system, writers can also write and publish without the assistance of publishers.

Energy

The energy industry is also filled by middlemen. Blockchain technology could change that by letting individuals buy and sell energy through smart contracts.

Blockchain technology can recreate the concept of how power can be generated, conserved, traded and shared. With the help of this technology, users can sell power that they`ve stored on their solar panels. Any excess power that isn’t essential could be sold for value.

Job Marketplace

The systems of employment have been changing. Studies have shown that employees, along with demands for good pay, wish for flexibility with work and the freedom to work from home.

Freelancing has grown and become more popular. While professionalism has grown on both sides, trust always remains an issue because there is currently no way to enforce it. But, blockchain can change it, with the implantation of blockchain, clients and freelancers can interact. And, both parties can be assured of their requested services. With the help of blockchain we can sustain a freelance market, that freelancers will love, but with the assurance of pay and delivery of work.

Internet of things

By the integration of Blockchain with Artificial Intelligence, the Internet of Things is another technological development that is up and coming, with radically transformative effects.

The term of this integration is Intelligent IoT, which has the potential to essentially connecting all our devices through the internet. Hence, we are soon to live in a world where our smartphones can talk to our cars and fridges.

With no central system necessary, blockchain would make this heavy processing much easier to handle while also securing data in an encrypted format. Tokenized mechanisms can monetize transactions between different devices and seamlessly integrate different services.

CONCLUSION

Blockchain will further establish a sense of equality and democracy through its disruptive power. It will create a more level playing field, where individuals and small businesses will be able to compete with corporate powers that have established their dominance through the advantage of value if implanted correctly.

Basically, the lesson here is, in whatever industry financial mechanisms favor one party over the other, blockchain can come in to equalize the system and ensure that everyone gets their fair cut.

There are many Startups implementing Blockchain technology in business, but they aren’t cost-effective and blockchain platforms have their limitations. Era Swap sees this as an opportunity to build an ecosystem that solves these problems.

Era Swap has newly launched Era Swap Life Ecosystem; it incorporates many interlinked platforms such as  Time Trading, e-Marketplace for farmers, for Local Shops, e-Learning App, Freelance Platform, Social Sharing Platform, Online Prediction Platform, Rewarding Platform for Networkers and many more Decentralized Self-sustainable platforms are coming soon to appreciate the value you deliver.

https://eraswap.life/

YouTube Channel

https://www.youtube.com/channel/UCGCP4f5DF1W6sbCjS6y3T1g

Facebook

https://www.facebook.com/eraswap/

Blocklogy | BUILD IN BLOCKCHAIN E-CONCLAVE – A GREAT NETWORKING OPPORTUNITY

In association with Amity University Mumbai, Blocklogy Edutech presents Build In Blockchain e-Conclave 2020. This conclave is an initiative to build a community committed to building the Blockchain Ecosystem while expanding the role of the market in the global blockchain industry producing a conducive business environment and promoting decentralization and transparency.

Build In Blockchain e-Conclave is a space where Startups, Entrepreneurs, Government Officials, Investors, Technocrats & Academicians will gather and discuss multiple emerging technologies such as; Blockchain, Web 3.0, AI, Machine Learning & Many other potentials and futuristic technologies.

Why attend?

Blockchain-Based Demons & Showcases

Team Blocklogy with finest speakers is going to showcase Real-time Blockchain & Its Applications Use-cases, using live projects that are powered on Blockchain

Domain Oriented Inspiring Speakers

Share the room with Inspiring & Finest speakers, industries most progressive professionals will be joining us this conclave to discuss the impact and opportunities of Blockchain & Distributed ledger technology on business

Multiple Tracks for Conclave

Build In Blockchain e-Conclave spotlights the influential and aspiring leaders against the most current industry questions, topics, and pain points. Featuring Keynotes, Breakout sessions & Product demons

Great Networking Opportunities

Build In Blockchain e-Conclave is a space that gives you the opportunity to Connect & Share your Visions & Ideas with Investors, Founders & Co-founders, Entrepreneurs, Government officials, and Networkers

This conclave aims to make participants future-ready and focused on Industry-Academia Collaboration & Tie-ups for Blockchain-based solutions. Build In Blockchain e-Conclave is an initiative to create awareness about Blockchain & Its Applications to make it more accessible for businesses in day to day life.

Team Blocklogy Invites you to join hands together for creating and incorporating emerging technologies in India among Academia, Corporate & Government.

https://buildinblockchain.com/

Build In Blockchain e-Conclave Teasers:

https://www.youtube.com/results?search_query=blocklogy

Facebook: https://www.facebook.com/buildinblockchain/

BLOCKLOGY | LEARN BLOCKCHAIN FROM BLOCKLOGY E-LEARNING APP & GET ONE STEP CLOSER TO YOUR BLOCKCHAIN CAREER

Blocklogy is an initiative to help students grow their technological knowledge and get introduced to growing and emerging technologies. Blocklogy e-Learning App covers all the topics from Beginners to Expert level and provides costly-effective courses such as; Blockchain, Technoingress, AI & Machine learning and multiple courses based on futuristic technologies.

You will be learning Blockchain using different modules of different levels; one doesn’t need to have programming or any IT background to e-Learn Blockchain since Blocklogy will be providing knowledge from basic to expert level. Also, Blocklogy Quizzes will keep you entertaining while increasing your knowledge.

Followings are the topics you will be learning under various belts in Blockchain Course:

White Belt

Under white belt, there are multiple topics such as; Network Protocols, Basic Cryptographic terms, Introduction to Blockchain & Distributed P2P network and many other features and benefits of Blockchain along with its practical use-cases.

Yellow Belt

In yellow belt, you will be learning Basic of Cryptocurrency, Cryptoeconomics, Bitcoin & Ethereum Blockchain, Mining Algorithm, Applications of Blockchain and many more topics on the subject of Blockchain

Orange Belt

In an orange belt, you will get a complete understanding of Wallet & Its types, Metamask, Digital Signatures, Types of Digital Certificates, UTXO, Hyperledeger and various topics to improve your knowledge and expertise on Blockchain.

Green Belt

Learn Solidity & Its alternatives along with Smart Contracts, EVM in Smart Contracts, Web3.js & Ether.js, Smart Contracts on Ethereum Blockchain and multiple topics on the subject of Blockchain

Blue Belt

Under Blue belt you will be learning ERC Standards, ICO Smart Contracts, ERC20 Token on Ethereum, Hashgraph, Multichain, Advanced parameters and other topics covering various aspects of Blockchain technology

Brown Belt

Learn Elliptic-curve Cryptography, Bitcoin Payment, Go-Ethereum, ISON RPC, and Rust Programming with other important topics, quizzes, and videos included in all the levels of the brown belt

Red Belt

In Red Belt, you will see various topics such as; Hyperledger fabric, Chaincode, PKIs, Public Blockchain, Private Transaction, Stellar, Lumens, and multiple cryptographically sound systems to give you more exposure towards Blockchain & Its possibilities.

Black Belt

Learn about Micropayments, Multiple testnets, ISON RPC API, In-depth Smart Contracts, Node Discovery Protocol, Web3.js library and many other topics that will help you complete your Blockchain learning

Ninja Belt

Under Ninja Belt, you will get to learn multiple topics such as; IBFT Algorithm, RAFT Consensus protocol & Permissioned network, Creative private contracts, Docker & Vagrant, Multichain, and various utilities.

Now that you know all about the Blockchain Course of Blocklogy e-Learning App, don’t hesitate to take a step forward towards your Tech career. Install Blocklogy e-Learning App now, Subscribe for Blockchain Course & Learn efficiently

Play Store: https://play.google.com/store/apps/details?id=com.blocklogy.blocklogyapp&hl=en

https://www.blocklogy.org/

YouTube Channel:

https://www.youtube.com/channel/UCuuEZeumDMlhFHT866Z-8Cg

Blocklogy | KMPARDS – AN INITIATIVE TOWARDS FUTURE

The potential of Blockchain technology to disrupt nearly every industry and solve its current flaws cannot be dismissed even though there are still several obstacles to overcome we see its full transformation and right implementation with authorization. Despite this rapid growth, many experts believe that it is blockchain – the secure, decentralized, distributed digital public that can solve the problems of traditional platforms and make traditional ways of doing this more advanced and better.

Since traditional p2p platforms aren’t cost-effective and existing blockchain platforms have their limitations, KMPARDS sees this as an opportunity to build an ecosystem that solves these problems. KMPARDS is a Parent Company consist of two various projects under it, both are the initiative for the betterment of society in different ways. Those two projects are called Era Swap Life Ecosystem & Blocklogy. 

ERA SWAP LIFE

Let’s begin with Era Swap Life – Era Swap Life Ecosystem is a self-sustainable e-marketplace created to appreciate the value you deliver. Era Swap Life Ecosystem is a vast project that holds multiple different platforms such as; Decentralized Freelance, Decentralized Prediction, Social Community, Affiliate Program, Decentralized Token Vesting, Decentralized & Secured Wallet, E-mart for SME.

Also, there are more upcoming platforms that will be soon part of this ecosystem, that are P2P lend and borrow, Multi Exchange Solutions, Marketplace for farmers, and Next-gen Dating App. To know in-depth about Individual Platforms check this blog out https://eraswaptoken.io/blog/era-swap-life-an-ecosystem-for-blockchain-based-solutions

BLOCKLOGY E-LEARNING PLATFORM

Blocklogy is an e-learning platform it is an initiative of Team KMPARDS to empower students towards emerging technologies like Blockchain & AI.

Blocklogy Programs

Blocklogy is associated with multiple reputed universities from different states to make students future-ready with the help of various Collaborative Tech-events, Workshops, Scholarship Programs, Industrial Visits, Internship Programs, FDPs, STTPs, and multiple seminars on emerging technologies with its applications & live projects. If you want Blocklogy to conduct events on your campus/ premises, you can contact us on info@blocklogy.org

Blocklogy e-Learning App & Platform

Blocklogy e-Learning App is developed to educate students of all age groups across the globe on the subject of Blockchain, AI, Machine Learning, Intelligent IoT & IoT, and more. This application follows Learning Layer Approach from Beginner to Expert Level and is designed in such an interactive manner that any student can think about the implementation of what is learned.

The Blocklogy e-Learning Platform offers numerous things to initiate students towards future-technology. It offers e-Learning App, Live Sessions by industry experts, FDPs, Live projects to give exposure to real-time use cases in testnet scenario, Research & Development, Interaction with Industry Experts through On-site visit and any dynamism Blocklogy can contribute.

KMPARDS aims to spread awareness about next-gen technologies across the globe through an e-Learning platform and build a self-sustainable marketplace for the betterment of mankind

LINKS:

Blocklogy e-Learning App: https://play.google.com/store/search?q=blocklogy&hl=en

Blocklogy Website: https://www.blocklogy.org/

Era Swap Life Website: https://eraswap.life/

YouTube Channel


Blocklogy: https://www.youtube.com/channel/UCuuEZeumDMlhFHT866Z-8Cg


Era Swap Life:https://www.youtube.com/channel/UCGCP4f5DF1W6sbCjS6y3T1g

Facebook

https://www.facebook.com/Blocklogy/
https://www.facebook.com/eraswap/