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Ledger, ledger on the wall, what exactly are you for? Blockchain, or distributed ledger technology, as some more sophisticated practitioners would like to call it, promised a vision of future with greatly enhanced productivity for the real economy, while simultaneously eliminating the inefficiency inherent in the financial economy. Amidst this glorious vision, one unanswered question stood out like an sore thumb. The question was what kind of information does is this new, near magical, information technology is keeping track of. BitCoin, the first ledger, was created to keep track of unspent BitCoins, without the need for a central trusted party to maintain the book. Instead, it distributed book keeping across a swam of malicious parties, incentivized to perform book keeping by offering reward for proper book keeping, while raising the bar of book keeping to maintain discipline. Then came Ethereum, the eldest of the ledger, which allowed users to create their own tokens and a means to customize how these tokens should behave. The book keepers are incentivized to keep the book straight for both the native and user tokens, through similar reward mechanism as the first ledger. The mass of ledgers, or public blockchain, that came after are similar. Like variants of virus, they promise the possibility to earn native tokens through doing variants of the hard work of book keeping. Some experimented with controlled credit expansion, where users can pledge not to use the tokens now, in exchange for more tokens later. As the scale of tedium vs reward in book keeping is skewed towards tedium, and it is necessary to find alternative means to accelerate growth of the mass of ledgers. The choice word then was “acquiring customer”, which essentially meant paying customers to use the service at the start, in hopes that the customer will end up paying sometime in its lifetime. However, the mass of ledgers does not have the capital needed to execute such customer acquisition strategy. What they have are tokens, which can be transferred or traded by the believers. With a stroke of marketing ingenuity, innovators carved out a space in the collective consciousness, called it crypto, and linked it with a promise of even brighter future where anyone can issue credit, or raise capital, or partake in financial market, all without the leash of regulations and need to use an intermediary. The believers jumped in, dragging a portion of undecided to dabble through momentum, and the problem of lack of capital for customer acquisition strategy is solved. However, the purpose of the information technology powering the first, eldest and mass of ledgers are essentially to keep track of who owes what tokens. So far, these seemed to be tokens of visions, dreams and/or greed, with a few being tokens resembling money and credit. https://lnkd.in/gxn9KA9V

XRP Price Edges Up As Ripple Forms Major Partnership In Japan https://ift.tt/fMhxcU7 Ripple has announced a major partnership with Tokyo-based HashKey DX, a consulting company of the HashKey Group, to deploy XRP Ledger (XRPL)-powered enterprise solutions in Japan’s burgeoning blockchain sector. The announcement led to an immediate 1.9% increase in XRP’s price, although this gain was slightly pared back; as of the latest data, XRP stands 1.1% higher since the news broke. The Ripple And HashKey Partnership: Details The collaboration leverages the substantial success HashKey Group has seen in mainland China. HashKey‘s blockchain-powered solutions for supply chain finance have registered over 4,000 companies, including 23 banks and 4,300 suppliers. The total transaction volume through these solutions has exceeded $7 billion, with almost $3 billion in financing transactions. In Japan, these blockchain solutions will be adapted and deployed through a partnership involving Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. The XRPL will be the foundational technology platform. This blockchain specializes in tokenizing and exchanging both crypto-native and real-world assets. Andy Dan, a representative from HashKey DX, highlighted the efficiency and suitability of XRPL for their needs, stating, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution. With its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.” Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, echoed this enthusiasm for the partnership: “We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.” XRP Price Analysis The initial spike in XRP’s price post-announcement reflects the market’s optimistic reception of Ripple’s strategic moves. However, the broader price action context reveals more complexity. Over recent weeks, XRP has experienced volatility, notably breaking down from a symmetrical triangle pattern on the weekly chart that began forming in September 2021. This pattern typically indicates a period of consolidation, with the eventual breakout direction suggesting the prevailing market force. XRP price, 1-week chart | Source: XRPUSD on TradingView.com Currently, the breakdown suggests that sellers have gained the upper hand, with the triangle now acting as a resistance zone. XRP faces multiple hurdles ahead as it is currently trading below several critical exponential moving averages (EMAs) – 20, 50, 100, and 200-week EMAs, all nested within the former triangle patte...

VDA stands for Virtual Digital Assets. This term is used to denote digital assets such as cryptocurrencies (e.g., Bitcoin, Ethereum), digital tokens, and non-fungible tokens (NFTs). VDAs are based on blockchain technology, offering enhanced security, transparency, and efficiency in transactions. They are used for various purposes, including investment, payments, and access to services. India has witnessed a surge in VDA adoption, with cryptocurrencies being actively traded on Indian exchanges. The interest in blockchain technology and digital assets has significantly grown. Lets look at the key legal developments that have shaped the market. 📍 Supreme Court Verdict (March 2020): Case: Internet and Mobile Association of India v. Reserve Bank of India. Verdict: The Supreme Court of India lifted the RBI’s ban on cryptocurrency trading, stating the prohibition was disproportionate and violated Article 19(1)(g) of the Indian Constitution, which guarantees the right to practice any profession or to carry on any occupation, trade, or business. 📍 Inclusion under Prevention of Money Laundering Act (PMLA) (March 2023): The Ministry of Finance amended the PMLA to include VDAs. Implications: Entities dealing with VDAs must comply with KYC, AML, and CTF norms. They are required to maintain records and report suspicious transactions, aligning with global standards. 📍 Cryptocurrency Taxation (April 2022): Tax Provisions: A 30% tax on income from VDAs was introduced, along with a 1% TDS on transactions exceeding a specified limit. These provisions were outlined in the Finance Act, 2022. Sections Involved: Section 115BBH of the Income Tax Act deals with the taxation of VDAs, and Section 194S specifies the TDS requirements. 📍 Proposed Digital India Act (Ongoing): Objective: To harmonize existing IT laws and regulate emerging technologies, including VDAs. Current Status: The Act is still under consideration, aiming to provide a comprehensive legal framework for digital assets. International Collaboration: 📍 G20 Presidency (2023): India is advocating for a global standard operating procedure (SOP) for regulating VDAs. Finance Minister Nirmala Sitharaman has emphasized the need for international cooperation to address the challenges posed by cryptocurrencies. As India continues to innovate and integrate VDAs into its economy, staying informed and compliant with regulations will be key for businesses and investors. Follow us to stay informed with key developments www.asnatthiklegal.com #AsnAtthik #CryptoLaw #India #SEBI #RBI

🔗 Blockchain Is the Future of E-Government Services The public sector is showing ever-more interest in blockchain and the efficiencies that it offers not only in transactions and asset transfers, but in its application across a wide range of functions that can be applied to governmental processes. Technological and ecosystem maturity of distributed ledgers have to increase in order to unlock the transformative power of blockchain. Policy agenda should focus on non-technological barriers, such as incompatibility between blockchain-based solutions and existing legal and organizational frameworks. Proof of ownership and transfers. Land transactions and proof-of-ownership requests can burden government agencies with documentation and administrative work. By using blockchain, governments can permanently store asset transactions such as land, property, and vehicles on a public ledger. Are you ready for the future of government services ? 🚀 Embracing blockchain technology can revolutionize how governments operate, enhancing efficiency, transparency, and security in delivering public services. 🏛️💻 This insightful guide that dives deep into the potential of blockchain in the government sector. ✨ As someone who has been fascinated by the transformative power of blockchain💡 1️⃣ Increased Transparency and Trust: From voting systems to land registries, ensures transparency and boosts trust among citizens. 2️⃣ Enhanced Security: With its robust cryptographic algorithms, provides a high level of security, safeguarding sensitive government data from unauthorized access and manipulation. 3️⃣ Streamlined Processes: Simplify and automate these processes, reducing bureaucracy and saving time for both citizens and public servants 4️⃣ Cost Savings: Significantly reduce administrative costs for governments. As more governments adopt blockchain, we can expect to see even more innovative applications of this technology in the delivery of following public services. 1. E-voting 2. Blockchain district 3. Justice & law 4. Energy management 5. Financial Inclusion 6. E-residency 7. Electronic healthcare 8. Public procurement 9. Automation of operations 10. Vehicle security 11. Welfare grant distribution 12. Inter Agency data Management 13. Record keeping 14. Tax collection Bottomline - By using blockchain, governments can reduce administrative costs, increase transparency and improve service delivery. As more governments adopt blockchain, we can expect to see even more innovative applications of this technology in the delivery of public services. A blockchain-based digital government can protect data, streamline processes, and reduce fraud, waste, and abuse while simultaneously increasing trust and accountability 🤝 Let's join us ... At India Blockchain Forum for this movement LinkedIn : https://lnkd.in/dD53TV4Z Telegram : https://lnkd.in/dGf7cA_8 WhatsApp : https://lnkd.in/e-bd_NNJ #blockchain #india #technology   #collaboration #startups

In January of 2024, Slash’s payment protocol released Mantle Network compatibility, aiming to contribute to the Mantle Ecosystem through increasing the transactions of cryptocurrency payments. Mantle Network is an Ethereum Virtual Machine (EVM)-compatible Layer-2 (L2) scaling solution. Mantle strives to address the blockchain trilemma by separating execution, consensus and finality, and data availability into separate layers, and optimizing each modularly. This culminates in an architecture that combines high security, decentralization, and cost reduction. As a result, users utilizing Slash Payment can execute settlements instantly on the Mantle Network with lower gas fees. Mantle Network states, “We are delighted to join forces with Slash to create more use cases for Mantle Ecosystem tokens in real life scenarios. Slash’s significant presence in the Japanese market will be sure to open new vistas for Mantle Ecosystem dApps in the land of the rising sun“ Slash Payments’ COO Tokio Nakamoto, states, “At Slash Payments, we are thrilled to announce our partnership with Mantle Network. Mantle Network’s innovative solutions align perfectly with our commitment to providing a secure, decentralized, and cost-effective payment protocol. This partnership not only enhances the functionality of Slash Payments but also underscores our dedication to fostering the growth and interoperability of decentralized financial solutions. Together with Mantle Network, we look forward to pushing the boundaries of what is possible in the decentralized finance space and providing users with an unparalleled payment experience.” Through this partnership, Slash will strive to promote the adoption of the Mantle Network in the Japanese and Asian markets, working towards long-term growth in the region. ■ Developing the SVL (Slash Vision Labs) Token Ecosystem on Mantle Network Slash developed its token (SVL) and token ecosystem to build a new form of payments business that redistributes business revenue to token stakers of SVL. The Slash Vision Labs Token (SVL) scheduled for launch and listing in the spring of 2024. In light of the strategic partnership with Mantle Network, Slash has decided to develop the SVL ecosystem on Mantle Network. 100% of the revenue generated from Slash’s products will be used to purchase $MNT, with SVL ecosystem participants receiving $MNT as rewards. Simultaneously, $SVL will also be distributed to them as part of the reward pool. Slash initially planned to build the SVL ecosystem on Ethereum, but decided to transition over to Mantle Network after considering the challenges posed by high gas fees of Ethereum Network and the evolving market demands for Layer 2s and modular blockchains. https://lnkd.in/gvUu_5SD

India hosts documents on blockchain BUSINESS India has reiterated that it is not against blockchain technology. Now, the country has put documents from nine federal organizations and provincial governments on chain. The website blockchain.gov.in, operated by the National Informatics Centre, MeitY (#NIC), has onboarded 19 departments, including the #SupremeCourt. The documents are from six provincial governments and three federal government departments—the Central Board of Secondary Education (#CBSE), the Consumer Affairs Ministry, and the Justice Ministry. The website lists documents, like educational certificates, land records, and drug logistics chains, that have been put on the blockchain. As of March 9, the CBSE has put one of the largest number of documents on the blockchain— 1,71,24,672—while as many as 43 documents are from the Supreme Court, according to the website. Several provincial governments have also put real estate registration certificates and even police complaints on the blockchain to curb document forgery and manipulation. This is a significant shift in the world’s biggest democracy, which traditionally relies on hefty paperwork for administration work and maintaining records. According to a Deloitte report, a blockchain-based approach could increase transaction processing efficiency and reduce, if not entirely prevent fraud. India published the “National Strategy on Blockchain” in December 2021, outlining how it plans to harness the benefits of this emerging technology. The National Payments Corporation Of India (NPCI) (#NPCI), an umbrella organization for operating retail payments and settlement systems, recently signed a pact with the Indian Institute of Science (IISc)(#IISc), Bangalore, to conduct joint research on blockchain and artificial intelligence (#AI) technology. “As our nation progresses towards digital sustainability, we recognize the significant potential for research in deep technologies such as blockchain and AI to further enhance the payment landscape,” said NPCI Chief Technology Officer Vishal Anand Kanvaty Although India has adopted a cautious approach toward digital asset trading, the Reserve Bank of India (RBI) Governor Shaktikanta Das said last week the central bank has nothing against blockchain. “We are ourselves, using the blockchain technology with regard to our central bank digital currency. So the underlying technology is a different thing altogether that has to grow,” Das said. Likewise, Finance Minister Nirmala Sitharaman said that the use of blockchain technology will rise by about 46% in the next few years. “[Blockchain] gives us so many options. It can be used in so many different ways. So we are not against the technology,” Sitharaman said. Dr. Satya N Gupta #BlockchainForProductivity #BlockchainForBharat #blockchaintechnology #BFPF #blockchaincatalysts #blockchainadoption #BlockchainAccelerator #India #BlockchainIndia

To be dream achievers and a networker’s network, is to constantly search for innovative ways to build up our organization and achieve a high quality of life. In today’s fast-paced world, it is important for individuals and organizations to stay updated with the latest trends and technologies to survive and thrive. One such innovation that has taken the finance world by storm is the concept of blockchain and its application in creating a decentralized currency. Dollar Pay is a platform that is designed to work in the finance environment with any governing parties and project owner inputs. It is built on self-sustaining smart contract technology, making it a unique approach in the world of blockchain. This platform enables users to perform conversions between Dollar Pay directly, without the need for counter parties. What makes Dollar Pay stand out is its use of AI to fulfill the trust factors. With the power of artificial intelligence, users can be assured of transparency and security when performing transactions on the platform. This makes Dollar Pay one of the most prominent and essential features of blockchain technology. One of the key benefits of using Dollar Pay is its decentralization. Unlike traditional currencies that are controlled by central authorities, Dollar Pay operates on a peer-to-peer network. This means that there is no central authority dictating how transactions should take place or controlling the value of the currency. The transparency offered by Dollar Pay is also a major advantage. With blockchain technology, all transactions are recorded on a public ledger that can be accessed by anyone. This eliminates any chances of fraud or manipulation, as all transactions can be traced back to their origin. This level of transparency builds trust among users and promotes a sense of security. But what truly sets Dollar Pay apart is its promise of a high quality of life for its users. By being a decentralized currency, Dollar Pay eliminates the need for intermediaries, which in turn reduces transaction fees and processing time. Dollar Pay also has the potential to revolutionize the way we think about currency. With its self-sustaining smart contract technology, it has the ability to create a stable and sustainable economy that is not influenced by external factors such as inflation and government policies. This gives individuals and organizations the power to take control of their own finances and build a better future for themselves. As a networker’s network, Dollar Pay also offers opportunities for individuals to connect and collaborate with like-minded individuals from all around the world. In conclusion, Dollar Pay is the next generation of decentralized currency that offers numerous benefits such as decentralization, transparency, affordability, and efficiency. With its use of AI and smart contract technology, it provides users with a high quality of life and the potential to revolutionize the way we think about currency

🚀 Unveiling the Cost Efficiency Revolution: ZkSync's Matter Labs Unit Economics Dissected 🌐 As the blockchain landscape continues to evolve, one revolutionary technology is fundamentally altering the economics of Ethereum transactions. Zero-knowledge proof-based rollups, particularly ZkSync, have emerged as a beacon of cost-efficiency in blockchain scalability. 🔄💡 Let's dive into the pivotal aspects highlighting why the unit economics of ZkSync are paving the way for one of the most cost-effective and sustainable solutions in the blockchain sphere: Amortizing Costs with Scale: Unlike traditional blockchains, zk-rollups like ZkSync boast a unique capability. They leverage zero-knowledge proofs to distribute the cost of generating validity proofs across numerous transactions. This groundbreaking feature means that as transaction volumes soar, the cost per transaction significantly decreases. In essence, it gets cheaper to use as the scale expands. 💰📈 Reduced Gas Fees Through Batching: Zk-rollups harness cryptographic methods to validate transactions off-chain before bundling them into batches for submission to the Ethereum mainnet. By minimizing the number of on-chain transactions, gas fees are dramatically lowered. The increased number of transactions per batch showcases clear economies of scale, making transactions more cost-effective. ⚙️💸 Real-world Stress Tests: Recent surges in inscription activity stress-tested networks like ZkSync and Arbitrum. Despite encountering downtime, ZkSync demonstrated a remarkable decrease in transaction fees following its Boojum upgrade, currently boasting the lowest transaction costs among layer-2 solutions. This exemplifies the resilience and efficiency of zero-knowledge rollups in handling increased demand. 🛠️🔐 Visionary Future: ZkSync's response to heightened demand underscores the potential of zero-knowledge technology in scaling Ethereum's throughput. Even amidst increased traffic, showcases promising performance, indicating a landscape ripe for experimentation and convergence toward the most effective technical solutions. 🌟🔄 In conclusion, the unit economics of ZkSync Matter Labs and other zero-knowledge rollups present a paradigm shift in blockchain scalability, demonstrating their potential to revolutionize transaction costs and scalability on Ethereum. Kudos to the Matter Labs team. Marco Cora ∎ Vassilis Tziokas this groundbreaking solution will shape the future of blockchain, paving the way for cost-efficient and scalable transactions apt for the enterprise scale adoption Join the conversation on the future of blockchain scalability and cost efficiency with ZkSync and zero-knowledge rollups! #BlockchainRevolution #ZkSync #ZeroKnowledgeRollups #EthereumScalability

New Post: 5 Reasons Why SEI Price Is Rallying This New Year - sei liquid staking price boom YEREVAN (CoinChapter.com) — The price of SEI, the native token of Layer 1 blockchain Sei Network, has started the new year with a massive rally. Over the past 24 hours, the token has surged over 25%, reaching a new all-time-high (ATH) of $0.796. Over the past month alone, SEI gained over 200% in its price, making it one of the best-performing altcoins in the market.  Chart showing the recent rally of SEI token price. Source: CoinStats Introduced to the market just months ago, SEI has quickly gained investor confidence. It has added over 1,000% to its price since hitting the market.  One could identify several key factors that could have contributed to the recent SEI price surge. 1. Mainnet Launch installs confidence in Sei Token The launch of Sei’s mainnet in mid-August 2023 is one of the reasons why SEI has rallied over the past few months. The success of its tenets before this had already demonstrated that the blockchain has the potential to address inefficiencies in the Web 3 infrastructure. Official tweet from Sei mentioning some notable achievements in 2023. Source: X At the time of the public beta launch of Pacific-1, the Sei testnet had already written a few success stories. For example, it had over 200 teams building on it and more than 7.5 million unique wallets registered. The mainnet launch further garnered significant support from the community, adding to its momentum that led to the current SEI price ATH.  2 Sei V2 Upgrade and collaborations Following the launch of its mainnet, the Sei network continues to implement a series of updates to its network. The recently announced Sei V2 upgrade includes integration with the Ethereum Virtual Machine (EVM). This major milestone will help boost blockchain interoperability on the network. The upgrade will also benefit Cosmwasm smart contracts on the Sei network. Official announcement of the Sei V2 upgrade. Source: X Additionally, Sei’s strategic partnership with Circle, a prominent entity in the crypto space, has also fueled market enthusiasm.  Sei has also forged partnerships with other market players, such as Kryptonite and Gecko Terminal. These examples of Sei’s expanding ecosystem have enhanced its appeal in the broader blockchain space, helping SEI prices to surge.  3 Sei handles high transaction volumes with zero downtime The Sei blockchain is designed to support decentralized exchanges (DEXes). Because its operations are focused on digital assets trading, the network has seen a notable jump in transactions. Recently, Sei processed over 1 billion transactions. Despite the spike, it did not experience any downtime, a testament to its scalability and reliability. This growth in the ecosystem and its ability to handle high-volume transactions has positively impacted the demand for its in-house token, sending the SEI price t

Figuring out Blockchain: Past Bitcoin Blockchain innovation has detonated into public awareness, frequently inseparable from the digital money Bitcoin. Be that as it may, blockchain's true capacity stretches out a long ways past the domain of computerized monetary standards. This innovation offers a safe, straightforward, and decentralized method for recording and oversee information, making it a unique advantage across different ventures. Demystifying Blockchain: A Disseminated Ledger At its center, blockchain is a disseminated record innovation. Envision a monster, shared calculation sheet open to everybody on an organization. Be that as it may, dissimilar to a conventional bookkeeping sheet, this record is sealed. This is the closely guarded secret: Blocks: Data is assembled into advanced "blocks," containing exchange subtleties, timestamps, and exceptional identifiers. Tying the Blocks: Each block is cryptographically connected to the one preceding it, framing a chain. This makes a permanent record, as any modification to a block would require changing every single resulting block, which is computationally infeasible. Decentralization:The record isn't put away on a solitary server yet imitated across an organization of PCs. This decentralization kills a main issue of disappointment and guarantees straightforwardness, as everybody on the organization can confirm the information. Past Digital forms of money: Certifiable Uses of Blockchain. While Bitcoin exhibits the force of blockchain for making secure advanced monetary standards, its applications reach out a long ways past the monetary area. We should investigate probably the most encouraging use cases: Store network Management: Blockchain can follow the development of merchandise from beginning to objective with unmatched straightforwardness. This cultivates trust and responsibility inside supply chains, permitting shoppers to confirm the credibility and moral obtaining of items. For example, a precious stone organization could use blockchain to follow a jewel's excursion from mine to retail location, disposing of the gamble of contention jewels. Casting a ballot Systems:Blockchain offers a protected and evident method for directing races. By recording votes on a carefully designed record, it disposes of the gamble of extortion and control. Also, blockchain can smooth out the democratic cycle, considering distant investment and quicker results. Personality Management: Blockchain can reform character the board by making secure, self-sovereign computerized personalities. People would control their own information, giving admittance to explicit data to approved parties. Healthcare: Blockchain can safely store and oversee patient clinical records. This cultivates information interoperability between medical services suppliers, further developing patient consideration coordination and working with research drives.