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    Essentials of Digital Finance

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    bharani
    The document discusses legal and self-regulation of blockchain technology and cryptocurrencies. Legal regulation refers to laws established by governments to govern blockchain use, protect consumers, and maintain financial stability. Self-regulation refers to industry efforts to regulate itself through standards-setting bodies. The document also defines blockchain as a decentralized, distributed ledger that securely records transactions in a transparent manner using cryptography. Blockchain has potential applications in finance like payments, digital assets, supply chain finance, and record-keeping that can improve transparency, security and efficiency.

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    Essentials of Digital Finance

    Uploaded by

    bharani
    24 views9 pages
    The document discusses legal and self-regulation of blockchain technology and cryptocurrencies. Legal regulation refers to laws established by governments to govern blockchain use, protect consumers, and maintain financial stability. Self-regulation refers to industry efforts to regulate itself through standards-setting bodies. The document also defines blockchain as a decentralized, distributed ledger that securely records transactions in a transparent manner using cryptography. Blockchain has potential applications in finance like payments, digital assets, supply chain finance, and record-keeping that can improve transparency, security and efficiency.

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    The document discusses legal and self-regulation of blockchain technology and cryptocurrencies. Legal regulation refers to laws established by governments to govern blockchain use, protect consumers, and maintain financial stability. Self-regulation refers to industry efforts to regulate itself through standards-setting bodies. The document also defines blockchain as a decentralized, distributed ledger that securely records transactions in a transparent manner using cryptography. Blockchain has potential applications in finance like payments, digital assets, supply chain finance, and record-keeping that can improve transparency, security and efficiency.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    24 views9 pages

    Essentials of Digital Finance

    Uploaded by

    bharani
    The document discusses legal and self-regulation of blockchain technology and cryptocurrencies. Legal regulation refers to laws established by governments to govern blockchain use, protect consumers, and maintain financial stability. Self-regulation refers to industry efforts to regulate itself through standards-setting bodies. The document also defines blockchain as a decentralized, distributed ledger that securely records transactions in a transparent manner using cryptography. Blockchain has potential applications in finance like payments, digital assets, supply chain finance, and record-keeping that can improve transparency, security and efficiency.

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    ESSENTIALS OF DIGITAL

    FINANCE

    VINOTHKUMAR R
    III BCom A&F
    20118063
    FINTECH INDUSTRY, DATA & UPDATES
    LEGAL REGULATION
    • Legal Regulation Refers to the laws, rules, and regulations that are
    established by governments and other legal authorities to govern and
    oversee the use of blockchain technology and cryptocurrencies.
    • The aim is to protect consumers, prevent fraud and money laundering,
    and maintain financial stability.
    • These regulations can include licensing requirements, reporting
    obligations, anti-money laundering measures, and consumer
    protection rules.
    • Legal regulation helps ensure that blockchain technology and
    cryptocurrencies are used in a manner that is consistent with the
    broader legal and regulatory framework of the country.
    SELF REGULATION
    • Self Regulation refers to the efforts by the blockchain and
    cryptocurrency industry to regulate itself, rather than relying on
    government regulations.
    • This is often achieved through the creation of self-governing bodies,
    such as trade associations, which set standards and best practices for
    the industry.
    • These standards can cover areas such as transparency, security, and
    ethical behavior.
    • The goal of self-regulation is to promote trust and credibility in the
    industry, while also allowing for innovation and flexibility.
    • Self-regulation can complement government regulations and help
    ensure that the industry evolves in a responsible manner.
    BLOCKCHAIN
    • A blockchain is a decentralized, distributed ledger that records
    transactions on multiple computers in a secure and transparent
    manner.
    • It is a secure way to record transactions and data as it uses
    cryptography to validate transactions and prevent tampering.
    • The transactions are grouped into blocks and each block is linked to
    the previous block, forming a chain of blocks (hence the name
    blockchain).
    • This structure makes the data tamper-proof and enables all parties to
    have access to the same information.
    BLOCKCHAIN
    • B l oc kc hai n te c hnol og y i s m ost com m onl y assoc i ate d w i t h
    cryptocurrencies but has many potential use cases beyond this, such
    as supply chain management, voting systems, and real estate
    transactions.
    • Blockchain operates on a consensus mechanism, which allows
    multiple parties to agree on the current state of the ledger without
    relying on a central authority.
    • This makes it a secure and efficient method for transmitting and
    storing data and ensures that all participants have access to the same
    information.
    BLOCKCHAIN IN FINANCIAL SOFTWARES & SYSTEM

    • Blockchain technology has the potential to revolutionize the financial


    services industry by improving efficiency, security, and transparency
    in various financial applications.
    • Examples of blockchain applications in finance include:
    • Payments and remittances: Blockchain technology can reduce the cost and
    time needed for cross-border payments by eliminating intermediaries and
    enabling real-time transfers.

    • Digital assets: Blockchain can be used to issue and track the ownership of
    digital assets, such as cryptocurrencies or digital securities.
    EXAMPLES
    • Supply chain finance: Blockchain can be used to increase transparency and
    efficiency in supply chain finance by creating a shared and immutable ledger
    of transactions between suppliers, buyers, and banks.
    • Record-keeping: Blockchain can be used to securely store and manage
    financial records, such as invoices, trade finance documents, and mortgage
    records.

    By using blockchain technology, financial institutions can improve


    transparency, reduce the risk of fraud, and increase efficiency in their
    operations. This can result in lower costs and improved customer experiences.
    THANKYOU

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