✅GS-2 : Governance
✅Gs-3 : Economic growth- Role played by public trust in shaping an economy :-
🔴Factors that impact include - Politics of the day, Institutional strength, Media-
Solution : Focus on Transparency and accountability in processes - Hence we need social audit
BY VK IAS by Vikas kanukollu (VK)
Bitcoin is built on a distributed digital record called a blockchain. As the name implies, blockchain is a linked body of data, made up of units called blocks that contain information about each and every transaction, including date and time, total value, buyer and seller, and a unique identifying code for each exchange. Entries are strung together in chronological order, creating a digital chain of blocks. “Once a block is added to the blockchain, it becomes accessible to anyone who wishes to view it, acting as a public ledger of cryptocurrency transactions,” says Stacey Harris, consultant for Pelicoin, a network of cryptocurrency ATMs. Blockchain is decentralized, which means it’s not controlled by any one organization. “It’s like a Google Doc that anyone can work on,” says Buchi Okoro, CEO and co-founder of African cryptocurrency exchange Quidax. “Nobody owns it, but anyone who has a link can contribute to it. And as different people update it, your copy also gets updated.”
VK IAS UPSC Highlights by Vikas kanukollu VK from in