When Toufic Al Rjula applied for asylum in the Netherlands four years ago, he handed over all the original copies of his documents to the immigration office: his passport, his driver’s license, everything. “They even took my library card,” he says. His asylum claim took two years to be processed, during which time he had no legal proof of his identity. Al Rjula, who is Syrian, had been living in the Netherlands on a work contract before seeking asylum. “I thought: ‘I live in the Netherlands, I have a tax…
xpressmoney.com January 4, 2019 On 1st February, in his 2018 Union Budget speech, Finance Minister Arun Jaitley declared that the government of India would not recognize cryptocurrency as legal tender. However, he added that India will explore the potential of blockchain in governance. And so, it did. Niti Aayog, the government’s think tank, was put to the task of studying the use-cases of blockchain technology and developing viable prototypes. It is currently working on what could be the world’s largest implementation of blockchain in governance- IndiaChain. Before we dive into…
India is known for its demographic dividend which can propel it to become the next China-like story or even better. For those of you who don’t know, demographic dividend as defined by the United Nations Population Fund means, “the economic growth potential that can result from shifts in a population’s age structure, mainly when the share of the working-age population is larger than the non-working-age share of the population.” India sits at the helm of this demographic dividend because half of India’s current population of over 1.2 billion is under…
Market Research Future (MRFR)’s study has shown that the global Blockchain technology is anticipated to exhibit a compound annual growth rate (CAGR) of 66.4% during the forecast period 2018 to 2023. MRFR is a research group that bridges the gap between clients by identifying and decoding the target group, while generating leads with accuracy. The assessment indicates that the global market is poised to scale a valuation of USD 7,128 Mn towards the end of 2023, observing an upsurge in the adoption of Blockchain for smart contracting, digital payments, and…
Blockhain in the new buzz word in the industry. Now a days, everyone seems so fascinating to apply blockchain in their current business model or want to resolve existing problems using the blockchain technology. But blockchain can not be used in every case. You have to carefully analyse user business problem before utilising this new promising technology. In this article i will try to cover the basic requirements for the need of Blockchain based solution for a business problem. So lets begin: Step 1: Define your business problem and try…
SegWit (short for Segregated Witness) is a protocol upgrade that changes the way data is stored. It was activated on litecoin on May 10, 2017, and on bitcoin on 23 August, 2017. Developer Pieter Wiulle first presented the idea at the Scaling Bitcoin conference in December 2015. Many hailed it as a long-awaited solution to bitcoin’s scaling problem. The maximum block size in the main protocol is 1MB, which restricts the number of transactions bitcoin can process to approximately 7 per second. This was going to limit bitcoin’s potential growth,…
Syrian refugees could regain legal identities that were lost when they fled their homes. by Russ Juskalian Apr 12, 2018 A few times a month, Bassam pushes a shopping cart through the aisles of a grocery store stocked with bags of rice, a small selection of fresh vegetables, and other staples. Today he’s wearing a black sweater tucked into denim jeans, which are themselves tucked into calf-high boots caked in mud. The Tazweed Supermarket, where he’s shopping, is on the periphery of a 75,000-person refugee camp in the semi-arid Jordanian steppe,…
Learn common blockchain technology terminology. Our blockchain technology glossary is a complete blockchain 101 guide to help you understand this new technology by explaining commonly used terms and their meanings. Scroll down to learn more 51% AttackAn attack on the blockchain that results in a group of miners controlling over 50% of the network’s mining hashrate, a term used mostly in reference to Bitcoin. Accidental Fork An Accidental Fork happens when two or more miners find a block almost simultaneously. One chain then becomes longer than the other and the…
Telangana govt, ChitMonks partner to launch blockchain-based chitfund system ‘T-Chits’ The government of Telangana, through its Registration & Stamps Department has collaborated with T-Hub startup ChitMonks to launch T-Chits, a blockchain-based chit fund administration As the chit fund business in India got corporatized, regulations to administer the business and protect the interest of all subscribers involved also evolved. The Central act of Chit funds, which came into effect from 1982 has since been the guiding book for all the regulators across India. At the state level, governments are responsible to…
Stamps and Registration Department partners with ChitMonks In a first, the traditional chit fund administration is powered by the secure blockchain technology as the Stamps and Registration Department partners with ChitMonks, a start-up, to launch T-Chits. At a time when all record-keeping is manual, the initiative is aimed at bringing trust among subscribers and ensure that there is no manipulation of numbers. ChitMonks on Thursday said T-Chits intends to bring assistant registrars of chits and registered chit funds on the blockchain network. This would bring about ease in business. “The…
Further Reading: ByteBall , Credits: Vaibhav Saini A complete list/comparison of all consensus algorithms. Consensus algorithms are the basis of all the blockchains/DAGs. They are the most important part of the blockchain/DAG platforms. Without them(consensus algorithms) we will be left with just a dumb, immutable database. Here we list all the major consensus algorithms and will evaluate their pros and cons. If you find anything missing or wrong here then shoot that in the comments. Also, the article will be updated regularly as I study more about these algorithms and…
Article By Toufi Saliba & Forbes Technology Council Blockchain has yet to go mainstream, which isn’t at all surprising. However, maybe this can be changed because the promises of the blockchain are too good to pass on.There are thousands of blockchain projects in the world today, and while it can be difficult to tell which ones are capable of long-term success, it is possible because you can assess whether they are missing necessary elements in their current design (and many are).In security, there is a saying: “You are as strong as your weakest link.”…
As blockchain transitions from hype to reality, various issues are coming to light. Further, it is also becoming clear that the technology requires more detail in terms of enabling better understanding, hence better implementation. Notably, blockchain implementation challenges simply imply that there is more to work on before the technology can fulfil its promise. Interestingly, getting to the bottom of the challenges requires a good understanding of the technology and what it entails. Further, blockchain is quite undefined as it is today. As such, one might not be clear on…
Swiss e-government startup Procivis and the Communication Systems Group CSG at the Department of Informatics at University of Zurich have announced their collaboration to develop an electronic voting solution. The planned platform aims to cover the entire voting process electronically and in a seamless manner, from the provision of voter information to the evaluation of results. After successful development, the blockchain-based solution is planned to be made publicly available as open source software. The project announced today has been initiated by Swiss e-government specialist Procivis and the CSG, led by…
Bitcoins have rapidly gained popularity, but what is the currency’s legal status? This week Germany revealed that it sees the virtual payment method as “private money,” but its tax status remains unclear. The value of bitcoins has become widely accepted. The virtual, Internet-based currency can currently be traded in for about $120 each, according to Mt. Gox, a popular bitcoin exchange. But now they are also gaining a legal footing — at least in Germany, where the Finance Ministry has declared bitcoins to be a “unit of account.” The designation…
Credits: Published by J.P. Morgan There is a growing realization that distributed ledger technology — popularly known as blockchain — will bring a radical shift in the way we think about financial assets and the way the financial industry will operate in the future. The blockchain journey is likely to be long and the outcome is uncertain, but a consensus is forming that it is the real deal. Disregarding it is a risk. In this joint report with management consultant Oliver Wyman, we argue that asset managers need to get…
Zach Scott Oct 23, 2018 How the data ecosystem is becoming medieval Unfortunately, our modern digital ecosystem is rapidly organizing as a feudal power structure erected in parallel with our existing power structures and freedoms. In the common conception of feudalism, a relatively small rentier class (lords) uses a variety of subtle and overt political and economic systems to extract value from the daily lives of the producer class (peasants), who generally have little choice or influence over the system. Users participate in platforms, often with only the barest…
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