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.
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.
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.
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.
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
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.
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
