Internet-of-Things (IoT) is booming. The world is changing by the revolutionizing innovations of technology. IoT is an advanced technology that connects all the devices over the Internet while blockchain is a type of distributed ledger technology. Collectively they form a secure analytical environment. It offers umpteen number of opportunities for industries to process smarter operations. While, on the other hand, Blockchain provides a scalable and decentralized system to IoT tools, applications, and platforms. Major benefits of utilizing blockchain for IoT are the least risks of collusion and tampering, reduced settlement and cost for transactions.
Mobile banking has indeed emerged as a way to end financial exclusion, a chronic problem in all emerging markets. In India, payments worth almost $60 billion are now taking place every month via wireless devices, three-fifths more than ATM withdrawals. A year ago, cash was ahead by 37%. At this rate of digital adoption, the lead of cheques might also soon vanish.
Srinivasan’s advocacy has thus come at a crucial time. A digital wallet that can handle both central bank-issued electronic cash and cryptocurrencies will end up “giving every Indian the ability to make both domestic and international transactions of arbitrary complexity, attracting crypto capital from around the world, and leapfrogging the 20th century financial system entirely,” he says in his blog post.
Just like its disastrous predecessor – demonetisation – banning cryptocurrency to fight “black money” would be like setting fire to the forest in order to smoke out a few sheep.
If India proceeds with a rumored ban on cryptocurrency, it wouldn’t be the country’s first attempt to impose currency controls. This time, however, a ban is even less likely to succeed — and the consequences for India’s economy could be more dire. The country shouldn’t make the same mistake twice.
BANGALORE, India, July 31, 2020 /PRNewswire/ — Open-source service is a type of software where source code is released by the copyright holders for users to utilize, study, and can modify it. It is a service that focuses on providing open source technology all over the world. The driving factors in the open-source services market include the government encouragement in adopting the open-source services in the public sectors to render an open platform for vendors and users. However, certain tools used in these services are not trustworthy, which makes the code weak and difficult to detect; this is the major challenge in the market growth.