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    Essentials of Digital Finance

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    bharani
    This document discusses legal regulation, self-regulation, and applications of blockchain technology in finance. It notes that legal regulation aims to protect consumers and maintain stability, while self-regulation allows industry flexibility. Blockchain provides a secure and transparent way to record transactions using cryptography. It has potential uses in payments, digital assets, supply chain finance, and record keeping. By improving transparency and reducing costs and fraud risk, blockchain can revolutionize the financial services industry.

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    Essentials of Digital Finance

    Uploaded by

    bharani
    33 views9 pages
    This document discusses legal regulation, self-regulation, and applications of blockchain technology in finance. It notes that legal regulation aims to protect consumers and maintain stability, while self-regulation allows industry flexibility. Blockchain provides a secure and transparent way to record transactions using cryptography. It has potential uses in payments, digital assets, supply chain finance, and record keeping. By improving transparency and reducing costs and fraud risk, blockchain can revolutionize the financial services industry.

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    ESSENTIALS OF DIGITAL FINANCE

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    This document discusses legal regulation, self-regulation, and applications of blockchain technology in finance. It notes that legal regulation aims to protect consumers and maintain stability, while self-regulation allows industry flexibility. Blockchain provides a secure and transparent way to record transactions using cryptography. It has potential uses in payments, digital assets, supply chain finance, and record keeping. By improving transparency and reducing costs and fraud risk, blockchain can revolutionize the financial services industry.

    Copyright:

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

    Essentials of Digital Finance

    Uploaded by

    bharani
    This document discusses legal regulation, self-regulation, and applications of blockchain technology in finance. It notes that legal regulation aims to protect consumers and maintain stability, while self-regulation allows industry flexibility. Blockchain provides a secure and transparent way to record transactions using cryptography. It has potential uses in payments, digital assets, supply chain finance, and record keeping. By improving transparency and reducing costs and fraud risk, blockchain can revolutionize the financial services industry.

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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
    • Blockchain technology is most commonly associated with
    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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