Summary of “Future of Crypto and Impact on the side of Block chain”

Bayile Taye Getu (2020AIM1020)

In this article the author focused on future of Crypto and Impact on the side of Block chain with the question
of why crypto was important and Block chain is the technology behind crypto as well as why Block chain
is important? so according to the author he was related with to the value of the money in in different
seasons like 20$ in 1932 and 20$ in 2018 due to digitalization is coming in the 20th that crypto plays a
vital role in this regarded and he was also try to compared value of trust between GOD and technology and
he was head from people ,that they were considered every things will fine with trust of GOD but he didn't
accept this idea . According to him this is meaning less joking. So he strongly believed that crypto currency
is very important even if there is good government there is no trust regarding digitalization of currency.as
a result he puts money with crypto as like below.

 Limited supply->high crypto

 Interchangeable->high crypto
 Security -> high crypto
 M2M -> high crypto
 Transaction speed-> high crypto
 Smart (programmable)-> high crypto
 Global - > high crypto
 Decentralized - > high crypto
 public confidence-> high crypto
 Government issued -> Low

So smart currency is very important as block chain gives like:

 P2P
 M2M
 SWIFT
 Banks

So middle is very important in decentralized Ledger.so every things are under block chain.

He also stated about global in nature.

 Globally available
 Flat has boundaries
 Enables global credit
 Opens up global market
Here was he mainly elaborate Banks on Block chain/Indian scenarios as like:

1. Nirav Model requests to PNB

2. Issue Letter of undertaking
3. Summit Letter of undertaking
4. SWIFT Transfer Instructions
5. Deposits
6. Transfer money

There was also slow Remittances in India which is shown below.

A. Local currency
B. Sender MTO
C. Sender Correspondent bank
D. Receiver correspondent back
E. Receiver MTO
F. Local currency

He was also mentioned type of block chain as proof of work and proof of stack and it challenges as well as
its own key factors like:

 Coordinated approach of global and regulators and policy makes G20

 Technological innovations needed to support global payment which are:
 Minimum 50,000TPS
 Mining
 None mining
 Quantum computing
 Federal governments can issue own crypto
 China
 India

And it is dominated by China.

To be concluded every things are under Block chain.