In 2018, India emerged as a global development center for blockchain technology. While blockchain startups proliferated across India, regulators also increased scrutiny of cryptocurrency exchanges and ICOs. Institutional investors also entered the market, bringing more stringent KYC and AML requirements. Looking ahead to 2019, the document predicts further regulatory developments, technological advances that improve efficiency, and the first blockchain-related lawsuits in India.
A comprehensive guide to investing in blockchain stocksBlockchain Council
Stocks of companies are being traded publicly. The interest shown by customers and investors towards blockchain stocks is steadily increasing. Some of the renowned companies are hopping onto the blockchain wagon and trying to monetize the opportunity.
Our latest quarterly "State of Blockchains" report on developments in the blockchains space, across startups, government and corporate adoption. This information has been provided to help build knowledge and understanding in the emerging blockchain and DLT space.
Introduction to the Blockchain - August 28, 2018Peter Johnson
Attached please find an introduction to the blockchain delivered as a presentation on August 28, 2018 at Universidad Francisco Gavidia. A recording of the presentation will follow, which will be in Spanish.
Blockchain technology has emerged as a real game-changer. Across all continents, Asia is likely to see the highest economic benefits of blockchain technology. In terms of particular countries, blockchain technology could have the maximum inherent net profit in China ($ 440 billion) and the United States ($ 407 billion). Five other countries (Germany, Japan, UK, India, and France) are also expected to have net profits above $ 50 billion. At the sectoral level, the leading beneficiaries appear to be the public administration, education and health sectors. These sectors are looking forward to benefiting a sum of around $ 574 billion by 2030.
Top 10 Reasons to Learn Blockchain | Blockchain Training | Blockchain Tutoria...Edureka!
( Blockchain Training :https://www.edureka.co/blockchain-training)
This Edureka's Blockchain video tells you why Blockchain is one of the leading technology in today's IT Industry and why should you learn it. This video also shows the job opportunities and the market.
Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR
You can also refer this playlist on Blockchain: https://goo.gl/V5iayd
Subscribe to our channel to get video updates. Hit the subscribe button above and click on the bell icon.
8 Decimal Capital Enterprise Solution OverviewRemi Gai
Read 8 Decimal’s latest deck for a comprehensive overview of enterprise blockchain solutions and to learn about its past, present and future developments. The deck also covers numerous use-cases and case studies of blockchain enterprise implementation, including IBM, OpenBazaar, ecommerce, retail, supply chain management, Tradelens, and energy management, among others, to name a few.
A comprehensive guide to investing in blockchain stocksBlockchain Council
Stocks of companies are being traded publicly. The interest shown by customers and investors towards blockchain stocks is steadily increasing. Some of the renowned companies are hopping onto the blockchain wagon and trying to monetize the opportunity.
Our latest quarterly "State of Blockchains" report on developments in the blockchains space, across startups, government and corporate adoption. This information has been provided to help build knowledge and understanding in the emerging blockchain and DLT space.
Introduction to the Blockchain - August 28, 2018Peter Johnson
Attached please find an introduction to the blockchain delivered as a presentation on August 28, 2018 at Universidad Francisco Gavidia. A recording of the presentation will follow, which will be in Spanish.
Blockchain technology has emerged as a real game-changer. Across all continents, Asia is likely to see the highest economic benefits of blockchain technology. In terms of particular countries, blockchain technology could have the maximum inherent net profit in China ($ 440 billion) and the United States ($ 407 billion). Five other countries (Germany, Japan, UK, India, and France) are also expected to have net profits above $ 50 billion. At the sectoral level, the leading beneficiaries appear to be the public administration, education and health sectors. These sectors are looking forward to benefiting a sum of around $ 574 billion by 2030.
Top 10 Reasons to Learn Blockchain | Blockchain Training | Blockchain Tutoria...Edureka!
( Blockchain Training :https://www.edureka.co/blockchain-training)
This Edureka's Blockchain video tells you why Blockchain is one of the leading technology in today's IT Industry and why should you learn it. This video also shows the job opportunities and the market.
Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR
You can also refer this playlist on Blockchain: https://goo.gl/V5iayd
Subscribe to our channel to get video updates. Hit the subscribe button above and click on the bell icon.
8 Decimal Capital Enterprise Solution OverviewRemi Gai
Read 8 Decimal’s latest deck for a comprehensive overview of enterprise blockchain solutions and to learn about its past, present and future developments. The deck also covers numerous use-cases and case studies of blockchain enterprise implementation, including IBM, OpenBazaar, ecommerce, retail, supply chain management, Tradelens, and energy management, among others, to name a few.
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
5 Blockchain Trends Everyone Should Know AboutBernard Marr
Where will blockchain go in 2019? Will we see a blockchain winter with crashing values of cryptocurrencies such as Bitcoin? Or will the hype be ignited once more? Here we look at the key trends for blockchain in the coming year.
Blockchain is the distributed ledger technology that is often associated with cryptocurrencies. However, over a period of time, Blockchain evolved, and now it finds a multitude of use cases. You can find Blockchain's prominent use in different fields like healthcare, finance, education, marketing, supply chain, and many others.
Gharar Free ReBittance – Powered by BlockchainLokesh Gupta
ReBittance can be defined as remittance backed by Blockchain technology instead of a traditional model based on a centralized network. Blockchain technology facilitates the use of digital assets such as cryptocurrency to process payments using unique secured shared electronic ledger. This unique feature of blockchain technology eliminates gharar (uncertainty) and make transaction processing cost-effective (low fee - ujr) and facilitates financial inclusion for unbanked such as migrant worker remittance to their home country. Another advantage is impenetrability, making it difficult to compromise as everything is tracked on a ledger which stops people from spoofing it or creating fake data. Blockchain strengthens the payment ecosystem by providing limitless opportunities in the usage of digital assets, payments, remittance and implementation of smart contracts. Islamic Banks globally are embracing for digitizing the user experience for banking to achieve accuracy, security, speed in-process and cheaper processing cost for remittance i.e. P2P (Peer to Peer), B2B (Business to Business), B2I (Business to Individual) and eCommerce transactions. The objective is to achieve low-cost remittance and payment intermediation ecosystem using open and transparent blockchain technology.
There are ongoing debates on acceptance of cryptocurrency as a medium of exchange, however, Islamic Banks are getting themselves ready to embrace blockchain technology, which follows Shariah (Islamic law). There have been initiatives by Al Rajhi bank to adopt ‘Ripple’s ecosystem for remittance and payments. This shows the acceptance level is increasing amongst the Islamic Bank. Blockchain technology is reverberating across the entire global financial ecosystem and early adopters will have a better advantage. Islamic Banks must be prepared as disruption has already started by FinTech companies and the acceptance level at consumers is increasing. The need of the day is leverage on the open nature of rebittance to innovate the remittance models and provide a better user experience. There are limited first movers to use blockchain for remittance and payments especially in Islamic finance, hence it provides limitless opportunities for Islamic Bank to embrace it.
This presentation provides overview on the traditional remittance, rebittance platform, perform a comparison with traditional models and models practised for processing remittance transactions in compliance with Shariah (Islamic Law) principles. It also provides a viewpoint on available opportunities available for Islamic bank and Fintech companies to explore and embrace.
The latter has completely transformed how the business operates, and agreements are executed. In this blog, we will be elaborating on the working of smart contracts and its benefits.
On Thursday, Oct. 20, Digital Currency Group hosted its second annual Bitcoin and Blockchain Tech Summit - three days of private events focused on bringing together our network of founders, startups, investors, and corporate strategics. These are the opening remarks presented by our founder and CEO, Barry Silbert, regarding the progress the bitcoin and blockchain ecosystem over the last year, and what DCG is excited about looking forward. Our Director of Development, Meltem Demirors, also announced the launch of our new corporate network.
Smart Contract is gaining popularity globally. The objective of this presentation is to provide an overview of smart contract, types, components, technologies and use cases.
Smart Contract is one of the greatest features supported by revolutionary Blockchain Technology. It is because of smart contracts blockchain is finding its adoption in every sector and going to create disruption in the way we are going to do exchange among each other.
This ppt covers basics about what is smart contracts and its use cases.
The Road Ahead: Strategic Overview on the Ethos Bedrock Enterprise-grade Bloc...Shingo Lavine
An overview of Ethos' path to bringing crypto to the masses through the Ethos Universal Wallet and how Ethos Bedrock API is being used to build a Fiat Gateway, Cryptocurrency Payment solution, Wealth Management, Banking and Exchange solutions.
This was presented August 8th, 2018 by Shingo Lavine during our Community Q&A.
Visit ethos.io for more information, download the Ethos Universal Wallet today!
U.s. banking giant jpmorgan expanding blockchain payments to 220 banksBlockchain Council
Financial holding company JPMorgan Chase & Co., founded in 1968 and headquartered in New York, provides a wide range of investment banking products and services for all capital markets. Its services include capital raising in debt and equity markets, sophisticated risk management, cash securities, and derivative instruments, and prime brokerage and research. It operates across segments such as commercial banking, asset and wealth management, corporate and investment banking, consumer and community banking.
Philippines announces the new cryptocurrency regulatory frameworkBlockchain Council
It was Bitcoin that had laid the foundation for a new era of digital money transaction. 2009 when the world saw Bitcoin surfacing, it was the same year when we got to know about Blockchain that was the underlying technology of Bitcoin and other cryptocurrencies. The Blockchain is that new kid in the town which has taken the world by storm. Being a decade old, this technology has carved a niche for itself and has disrupted almost all the business verticals. From healthcare to finance to supply chain management, Blockchain finds application everywhere.
How 2020 will reshape blockchain opportunitiesceline anderson
Nowadays the #IT, #Financial_institutions and also #government_agencies have shown interest in investing in #blockchain_technology.
This Attraction is mainly due to the #transparency and #controllability of Blockchain technology and #transactions
The wide Adoption of Blockchain has stunned various #industries
visit>>http://bit.ly/2N0Llo6
Keep an eye on>> http://bit.ly/39y6HT3
#BlockchainDevelopmentCompany #BlockchainDevelopmentServices #USA #Blockchain #feasibility #England
Purpose-bound Versus Speculative Digital MoneyInvestingTips
The original purpose of crypto when Bitcoin was invented was to allow people to make financial transactions via the internet. Now countries like Singapore are going to be treating differently purpose-bound versus speculative digital money.
https://youtu.be/hKwN-C2U6v8
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
5 Blockchain Trends Everyone Should Know AboutBernard Marr
Where will blockchain go in 2019? Will we see a blockchain winter with crashing values of cryptocurrencies such as Bitcoin? Or will the hype be ignited once more? Here we look at the key trends for blockchain in the coming year.
Blockchain is the distributed ledger technology that is often associated with cryptocurrencies. However, over a period of time, Blockchain evolved, and now it finds a multitude of use cases. You can find Blockchain's prominent use in different fields like healthcare, finance, education, marketing, supply chain, and many others.
Gharar Free ReBittance – Powered by BlockchainLokesh Gupta
ReBittance can be defined as remittance backed by Blockchain technology instead of a traditional model based on a centralized network. Blockchain technology facilitates the use of digital assets such as cryptocurrency to process payments using unique secured shared electronic ledger. This unique feature of blockchain technology eliminates gharar (uncertainty) and make transaction processing cost-effective (low fee - ujr) and facilitates financial inclusion for unbanked such as migrant worker remittance to their home country. Another advantage is impenetrability, making it difficult to compromise as everything is tracked on a ledger which stops people from spoofing it or creating fake data. Blockchain strengthens the payment ecosystem by providing limitless opportunities in the usage of digital assets, payments, remittance and implementation of smart contracts. Islamic Banks globally are embracing for digitizing the user experience for banking to achieve accuracy, security, speed in-process and cheaper processing cost for remittance i.e. P2P (Peer to Peer), B2B (Business to Business), B2I (Business to Individual) and eCommerce transactions. The objective is to achieve low-cost remittance and payment intermediation ecosystem using open and transparent blockchain technology.
There are ongoing debates on acceptance of cryptocurrency as a medium of exchange, however, Islamic Banks are getting themselves ready to embrace blockchain technology, which follows Shariah (Islamic law). There have been initiatives by Al Rajhi bank to adopt ‘Ripple’s ecosystem for remittance and payments. This shows the acceptance level is increasing amongst the Islamic Bank. Blockchain technology is reverberating across the entire global financial ecosystem and early adopters will have a better advantage. Islamic Banks must be prepared as disruption has already started by FinTech companies and the acceptance level at consumers is increasing. The need of the day is leverage on the open nature of rebittance to innovate the remittance models and provide a better user experience. There are limited first movers to use blockchain for remittance and payments especially in Islamic finance, hence it provides limitless opportunities for Islamic Bank to embrace it.
This presentation provides overview on the traditional remittance, rebittance platform, perform a comparison with traditional models and models practised for processing remittance transactions in compliance with Shariah (Islamic Law) principles. It also provides a viewpoint on available opportunities available for Islamic bank and Fintech companies to explore and embrace.
The latter has completely transformed how the business operates, and agreements are executed. In this blog, we will be elaborating on the working of smart contracts and its benefits.
On Thursday, Oct. 20, Digital Currency Group hosted its second annual Bitcoin and Blockchain Tech Summit - three days of private events focused on bringing together our network of founders, startups, investors, and corporate strategics. These are the opening remarks presented by our founder and CEO, Barry Silbert, regarding the progress the bitcoin and blockchain ecosystem over the last year, and what DCG is excited about looking forward. Our Director of Development, Meltem Demirors, also announced the launch of our new corporate network.
Smart Contract is gaining popularity globally. The objective of this presentation is to provide an overview of smart contract, types, components, technologies and use cases.
Smart Contract is one of the greatest features supported by revolutionary Blockchain Technology. It is because of smart contracts blockchain is finding its adoption in every sector and going to create disruption in the way we are going to do exchange among each other.
This ppt covers basics about what is smart contracts and its use cases.
The Road Ahead: Strategic Overview on the Ethos Bedrock Enterprise-grade Bloc...Shingo Lavine
An overview of Ethos' path to bringing crypto to the masses through the Ethos Universal Wallet and how Ethos Bedrock API is being used to build a Fiat Gateway, Cryptocurrency Payment solution, Wealth Management, Banking and Exchange solutions.
This was presented August 8th, 2018 by Shingo Lavine during our Community Q&A.
Visit ethos.io for more information, download the Ethos Universal Wallet today!
U.s. banking giant jpmorgan expanding blockchain payments to 220 banksBlockchain Council
Financial holding company JPMorgan Chase & Co., founded in 1968 and headquartered in New York, provides a wide range of investment banking products and services for all capital markets. Its services include capital raising in debt and equity markets, sophisticated risk management, cash securities, and derivative instruments, and prime brokerage and research. It operates across segments such as commercial banking, asset and wealth management, corporate and investment banking, consumer and community banking.
Philippines announces the new cryptocurrency regulatory frameworkBlockchain Council
It was Bitcoin that had laid the foundation for a new era of digital money transaction. 2009 when the world saw Bitcoin surfacing, it was the same year when we got to know about Blockchain that was the underlying technology of Bitcoin and other cryptocurrencies. The Blockchain is that new kid in the town which has taken the world by storm. Being a decade old, this technology has carved a niche for itself and has disrupted almost all the business verticals. From healthcare to finance to supply chain management, Blockchain finds application everywhere.
How 2020 will reshape blockchain opportunitiesceline anderson
Nowadays the #IT, #Financial_institutions and also #government_agencies have shown interest in investing in #blockchain_technology.
This Attraction is mainly due to the #transparency and #controllability of Blockchain technology and #transactions
The wide Adoption of Blockchain has stunned various #industries
visit>>http://bit.ly/2N0Llo6
Keep an eye on>> http://bit.ly/39y6HT3
#BlockchainDevelopmentCompany #BlockchainDevelopmentServices #USA #Blockchain #feasibility #England
Purpose-bound Versus Speculative Digital MoneyInvestingTips
The original purpose of crypto when Bitcoin was invented was to allow people to make financial transactions via the internet. Now countries like Singapore are going to be treating differently purpose-bound versus speculative digital money.
https://youtu.be/hKwN-C2U6v8
Doing Business of Cryptocurrency w.r.t. India Legal PerspectiveEquiCorp Associates
Cryptocurrency has been called as the greatest technological breakthroughs since the Internet. However, a parallel warning from the Reserve Bank of India as a caution against bitcoin and other cryptocurrency, with no guidelines or order to prohibit cryptocurrency may puzzled you to ponder over –Is it legal to do business of cryptocurrency in India? There may be several questions which you may encounter w.r.t. applicable laws of India, as there are no specific guidelines issued by any Government Authority including Reserve Bank of India or Ministry of Finance.
The main stream adoption of cryptocurrency is becoming a reality despite sceptics who compare the boom to the 1636 tulip mania. The issue is not whether cryptocurrency will survive, but rather how it will evolve. The article aims to clarify certain major aspects which may be encountered for- “Doing Business of Cryptocurrency w.r.t. Indian Legal Perspective” under the evolving legal structure.
The 5 Biggest Blockchain And Distributed Ledger Trends Everyone Should Be Wat...Bernard Marr
The hype around blockchain might have died down a bit but it is still a major tech trend everyone should be watching. In this article I outline at the key blockchain and distributed ledger technology trends everyone should be aware of.
This is he Hyperledger deck that Brian Behlendorf presented at the meetup in Tokyo, it has many useful links to other Hyperledger resources for you to explore.
If you have heard of mutual funds or ETFs then certainly you can relate to Crypto Structured products. Besides, there are derivatives in digital currencies that are tokenized in order to hedge risks and control volatility.
Is crypto eating fintech?
Digital assets are fighting for their place alongside stocks, shares and other asset classes.
Digital assets are changing the ecosystem & infrastructure that has been built around buying,
trading and holding those assets.
Get in-depth insights on the emergence, growth and future prospects of Blockchain in India. The historical timeline of the Blockchain technology in India. A detailed breakdown of the Blockchain technology and decoding the types of Blockchain currently in use.
Impact of cryptocurrency on Economy - India and Global. This has been taken from several online sources. References mentioned at the end of the article. A cryptocurrency is digital money in an electronic payment system in which payments are validated by a decentralized network of system users and cryptographic protocols instead of by a centralized intermediary (such as a bank).
Money serves three interrelated economic functions: it is a medium of exchange, a unit of account, and a store of value. Without it, people would have to engage in a barter economy, wherein people trade goods and services for other goods and services.
There are speculations on whether cryptocurrency will be more efficient and secure than existing money systems or if it can effectively act as money and achieve widespread use. However, that is the not primary focus of the article.
Visa moves to allow payment settlements using cryptocurrency.Blockchain Council
If we have to name the most revolutionary change in the world of technology in recent years, then you have to count cryptocurrency and Blockchain in the list. Bitcoin is the pioneering cryptocurrency in this domain. It highlighted the fact that transactions can take place without third-party intervention, and you can have faster transactions using a decentralized platform that guarantees complete security of data. Although cryptocurrency exchange does have its set of apprehensions surrounding its sustenance, in the long run, we have to agree to the fact that it has opened a new gateway of opportunities for a new phase of the digital financial revolution.
Legal implications of blockchain and cryptocurrencies by faith obafemiFaith Obafemi Esq.
Legal Implications of Blockchain and Cryptocurrencies by Faith Obafemi. A presentation made at the Blockchain Week Lagos, organized in partnership with Work Station
Get Rich with Blockchain & Cryptocurrencykeerthi678722
Another year has passed and virtual currency and other blockchain-based digital
assets continue to attract the attention of policymakers across the globe. A lack of
consistency in how policymakers are addressing concerns raised by the technology
is a major challenge for legal professionals who practice in this area.
Invest in Practical Applications of BlockchainInvestingTips
Looking forward, investors may wish to invest in practical applications of blockchain instead of speculating on the values of cryptocurrencies.
https://youtu.be/DIqJy5b40QY
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
Visit Now: https://www.tumblr.com/trademark-quick/751620857551634432/ensure-legal-protection-file-your-trademark-with?source=share
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
1. Blockchain in India: Looking through the Regulatory Crystal Ball
In 2018, India emerged as the global development centre for the blockchain revolution. It is hard to avoid
overhearing the catchphrases “nodes”, “verification”, “immutability”, and “Satoshi” in any café in Indiranagar
(Bangalore), Baner (Pune), or Gachibowli (Hyderabad). Service providers, building the global blockchain
architecture, have sprouted in every corner – from Bangalore to Kerala to Kashmir.
And while this services revolution rages on, more traditional companies have been grappling with the
implications of blockchain in their business,industry widebodies have been striving to build consensus around
the technology, blockchain centric start-ups have“flipped”to friendlier jurisdictions,tax authoritieshaveraided
multipleDEXs operating in India,and the Reserve Bank of India has issued a notification thatit has admitted in
court was not well thought out.
It has, indeed, been an eventful year for our Blockchain & Cryptocurrency Team.
ICOs?
2018 speltthe end of the global ICO goldrush. Global regulatory action squeezed the joy out of the fast paced
and inexpensive fundraising option that token generating events had been in 2017. Of course, that did not
restrictthe risk takingentrepreneur from attempting to reaffirmfaith in “blockchain asa singlesourceof truth”,
law notwithstanding. Indian regulators have not taken any severe action as of date – although their patience
should not be confused with any lack of enforcement ability. We anticipatesecurities lawprosecution,should
any entrepreneur attempt an onshore ICO in India.
STOs?
With the end of the ICO gold rush,we are now witnessingmore enterprises offering Security Token Offerings,
with the offer typically based in one of the many islands that do not restrict it. Singapore, Malta, Estonia, the
Cayman Islands,and theBritish Virgin Islands aresomeof the more popular options.For US lawpurposes,these
are usually Reg D or Reg S offerings and typically do not accept investments from India, Singapore, Korea , or
China. The money is typically brought into India in a manner that is compliant with India’s foreign investment
laws.We expect this trend to pick up pace, although regulatory complexities have rendered structures around
these offerings more complicated than listing on a recognised stock exchange.
Investors
Urban myths indicatethat investments in crypto-currencies aremade by individuals who believe in a particular
technology, invest out of their desireto see that technology evolve, and who wish to remain anonymous. That
myth was effectively killed in 2018.Today,our clients who wish to invest in blockchain companies includesome
of the world’s largest technology funds and some of India’s oldest and most respected venture capital and
privateequity funds.We expect this to continueand expect to see traditional high net-worth individualsto jump
on the bandwagon.
KYC and Anti-Money Laundering
The advent of institutional investorshaveresulted in enhanced KYC and anti -money laundering cheecks.Sellers
of crypto-currencies no longer permit all and sundry to purchase coins but would insist on fairly thorough
background checks.Digital solutions havemushroomed with many of them offering compliancewith AML / KYC
laws of over a hundred countries (including India).
Crypto-exchanges
The industry has come to accept that crypto-exchanges are regulated entities and that there are legitimate
reasons for such regulation.Most of India’s fly-by-nightcrypto-exchanges have come under regulatory scrutiny
2. and have either ceased operations or moved offshore. The move offshore has typically been to Singapore – a
jurisdiction where we understand that crypto-exchanges require regulatory approval.
The knee jerk reaction of the “faithful” has been the evolution of a DEX – a decentralised exchange. A simple
way to visualisea DEX is as a peer to peer exchange, a Napster for cryptocurrencies. We expect DEXs to come
under further regulatory scrutiny (both in India and globally).
Digital Security
The Indian enforcement authorities dealt with the firstmajor hack and theft of a crypto-exchange in India.We
can continue to expect similar actions and those who have been negligent to be the subject of criminal
prosecution. It is therefore appropriate for exchanges, fiduciaries, wallets, and other intermediaries to
undertake necessary steps to ensure that digital security is consistent with global standards.
Industry Adoption
2018 was also the year that blockchain caught the fancy of the traditional Indian company. We are advising
multiplelarge publicly listed Indian financial services and real estate companies on the adoption of blockchain
for purposes other than fundraising. Our B&C team expects this trend to continue with companies replacing
traditional digital security,storage, identity management, and clearanceand settlement with blockchain based
systems.
Blockchain Consortia
We sawthe emergence of the firstblockchain consortia in India.Whilethis trend has largely been restricted to
financial services, we expect multiple industries to evolve consensus based industry wide systems to drive
adoption of a common blockchain based standard. Along with this, we expect to see the Competition
Commission of India to examine these developments closely.
2019?
2018 bought in fairly serioustechnological advances and widespread acceptancethat blockchain represents an
increasingly maturetechnology that has legitimateuses. It also broughtin increased regulatory scrutiny and an
industry acceptance that it is a technology that can be misused. We expect 2019 to see the mushrooming of
standard-setting industry wide blockchain consortia, technological advancements that will result in more
efficient use of blockchain, successful attempts at melding AI and blockchain, more detailed regulatory
interventions, and the first Indian litigations revolving around blockchain and smart contracts.
Spice Route Legal’s Blockchain & Cryptocurrency Team is recognised as a market leader in the application of
blockchain in India and the legal regime that governs such application. Do contact Mathew, Aashima, or Aadya
for any questions you may have.
Mathew Chacko Aashima Johur Aadya Misra
mathew@spiceroutelegal.com aashima.johur@spiceroutelegal.com aadya.misra@spiceroutelegal.com