A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database.
It uses strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.
Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems.
Why is it in demand?
Significance of Cryptocurrencies
Concerns over Cryptocurrencies
Cryptocurrencies in India
Issues Associated with Banning Decentralised Cryptocurrencies
Conclusion
India is currently on the cusp of the next phase of digital revolution and has the potential to channel its human capital, expertise and resources into this revolution, and emerge as one of the winners of this wave. All that is needed to do is to get the policymaking right.
Blockchain and crypto assets will be an integral part of the Fourth Industrial Revolution, Indians shouldn’t be made to simply bypass it.
146 videos|358 docs|249 tests
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1. What is cryptocurrency and how does it work? |
2. Is investing in cryptocurrency risky? |
3. How can I buy cryptocurrency? |
4. Can I use cryptocurrency for everyday transactions? |
5. How secure is cryptocurrency? |
146 videos|358 docs|249 tests
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