India Blockchain Forum

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Discussion paper on #crypto policy likely before Sept, says DEA secretary The rationale behind the discussion paper is to seek comments and views from relevant stakeholders on the ideas outlined in it. This paper will also contain suggestions on the remit of regulations for #cryptocurrencies in India, added Economic Affairs Secretary Ajay Seth. https://lnkd.in/gkg6ehCZ

DeFi Risk Assessment Guidelines - New risk assessment guidelines for #DeFi protocols unveiled by Enterprise Ethereum Alliance. While primarily written for DeFi Protocol Users and Protocol #Investors , this document is also relevant to Protocol Operators and Protocol #Developers seeking to minimise the risks in their Protocol. These guidelines are also relevant for regulators and Standards Development Organizations who create standards and regulation that affect DeFi. https://lnkd.in/g7Mqd8bE #blockchain #decentralizedfinance

What drive drives data consumption at an all - India level? Rapid digitalization, improved tech infra, advanced tech like #5G , #AI , #blockchain, cloud computing , regulatory push.

Health insurance management through smart contracts. Smart contracts on #blockchain will automate and make contract compliance transparent across the continuum through a distributed, centralised ledger. Thus, it will ensure faster assured payments by preventing disputes that generally arise from ambiguities in #payment -related terms and conditions in general contracts. With the availability of citizen health records, smart contracts will reduce the number of false insurance claims by identifying the submission of repeated fraudulent claims, fake patient identities or false heath records. Source & Image Courtesy : PwC Report "Revamping India’s health insurance sector with blockchain and smart contracts"

#DLT | #interoperability : The growing adoption of distributed ledger technology (DLT) and digital assets in global #financialmarkets has made the need for interoperability standards clear to market participants. This report is relevant to three primary stakeholder groups: (1) Developers, Architects, and Integrators: The specification provides interfaces to accelerate the development of interchangeable components for connecting heterogeneous distributed ledger technologies and blockchain networks. It is relevant to professionals seeking to implement interoperability solutions across various DLT platforms, building or incorporating them into their solutions and applications. (2) Decision-makers and IT executives: Executives and decision-makers in regulated industries such as finance, healthcare, and supply chain will find this specification crucial for unlocking new business models and value streams through interoperable #blockchain solutions. Executive in corporations exploring or already using DLT technologies in their operations are key beneficiaries of this specification. (3) Regulators and Standards Development Organizations (SDOs): By setting a precedent for interoperability standards, this document aids regulators and SDOs in understanding the technical complexities and potential regulatory considerations of crosschain communications. It aims to foster a collaborative environment where regulatory frameworks can evolve with technological advancements, ensuring a balanced approach to innovation and regulations.  

Monolithic vs Modular Blockchains . Monolithic blockchains (e.g., Bitcoin) operate on a single layer where nodes handle all core blockchain functions in a linear fashion. In contrast, modular blockchains (e.g., Ethereum) consist of interconnected components that are each responsible for specific functions like execution, settlement, data availability and consensus. Monolithic blockchains offer robust security and decentralization, acting as deterrents to malicious actors seeking to disrupt the system. On the other hand, modular blockchains are crafted for flexibility, thus making them well-suited for arbitrary decentralized applications (dApps) such as decentralized finance (DeFi), social media, and gaming. Various scaling approaches, such as optimistic and zero-knowledge (ZK) rollups exist within modular blockchains each involving trade-offs within the blockchain trilemma. This paper explores the trade-offs of monolithic and modular blockchains in the digital asset industry’s quest to scale blockchains while maintaining #security and #decentralization #blockchain #blockchaintechnology

#blockchain : Use Cases in Karnataka Courtesy : Centre for Smart Governance . Source : https://lnkd.in/gY2g-gSi

Deploying #biometrics , #blockchain , #AI to verify and monitor the examination process. Enhancing security measures in an examination process is vital. The implementation of advanced technology such as biometric verification , blockchain for securing #data , and AI based monitoring can help prevent unauthorized access and impersonation. Regular audits and checks should be mandated to ensure the integrity of these systems. Additionally, the use of encrypted question paper distribution systems can further secure the examination process.

Basel Committee approves disclosure framework and capital standard for #banks ' #cryptoasset exposures and amendments to interest rate risk in the banking book standard, and agrees to consult on third-party risk principles. Basel Committee approves disclosure framework for banks' cryptoasset exposures and agrees to make targeted amendments to its cryptoasset standard. Agrees to update the interest rate shock sizes and associated methodology in its interest rate risk in the #banking book standard. https://lnkd.in/eYiXmj68