A Term Paper on

CRYPTOCURRENCY: MONEY & DEVLOPING WORLD

Report Submitted in Partial

Fulfilment of the Requirements for the Award of the Degree of

BACHELOR OF COMMERCE (HONOURS)

BY
SANDEEP YADAV
(Enrolment No A60004622042)

Under Guidance of
DR. UJJWAL KUMAR PATHAK

AMITY BUSINESS SCHOOL

AMITY UNIVERSITY MADHYA PRADESH
 ACKNOWLEDGEMENT

Any accomplishment requires the effort of many people and there are no exceptions. The Term
Paper being submitted today is a result of collective effort. Although the Term Paper has been
solely prepared be me with the purpose of fulfilling the requirements, there are in numerous
helping hands behind it who have guided me on my way.

I thank our management for creating such an opportunity for the students to broaden their frame
of skills. I am gratified with their efforts. My sincere gratitude also goes to my guide DR.Ujjwal
Kumar Pathak, who has helped me all through the project. Working on this project was fruitful
as well as interesting.

SANDEEP YADAV
 ABSTRACT

By the means of this project, I would like to acknowledge about MONEY AND DEVELOPING
WORLD: CRYPTOCURRENCY.

A cryptocurrency isia digital or virtual currency that is protected by encryption, making it

difficult to make money or double use. Many companies have issued their own funds, often
referred to as tokens, and these may be sold purely for a profit or service offered by the
company. Think of them as you can play tokens or chip chips. Blockchain is a technology that is
distributed across distributed areas on many computers that handle and record transactions. Part
of the appeal of this technology is its safety.

There are significant fluctuations in the digital currency markets due to both upward and
downward factors. It shows that there is a high probability of major changes in the direction of
digital currency in the coming days. The integration of new technologies into banking systems
can drive digital prices at higher levels. Some countries are already working on using
cryptocurrency as their alternative currency. Many countries are experimenting with regulation
and digital regulation in that digital way.
 CONTENTS

Front Page
Acknowledgement 2
Abstract 3

Chapter 1: INTRODUCTION
1.1 Introduction to Cryptocurrency 5-6

1.2 Names of most popular Cryptocurrency 7-8

1.3 History of Money 9-11

1.4 Advantages and Disadvantages of Cryptocurrency 12-14

Chapter 2: RESEARCH METHODOLOGY 15-17

Chapter 3: RESULTS & DISCUSSION 18-24
Chapter 4: CONCLUSION AND FUTURE PROSPECTS 25
References 26
 CHAPTER - 1
INTRODUCTION

Cryptocurrency is a digital or virtual currency and has no physical form. It is a way to exchange
in the digital world.
To protect transactions between partners, it uses cryptography (cryptography is coding). Crypto
means encryption and encryption means encrypted code that no one can understand except the
sender and receiver. The main aim of cryptocurrency is to do transactions without the
interference of the third party i.e. banks.

History of Cryptocurrency
In 1990, a few digital geeks tried to make money through cryptography because they did not
want to rely on third parties to share their money. They wanted independence because they
thought the government had great power in their lives. In other words, digital geeks do not seem
to trust third parties. They tried to do digital cash and cyber cash back then in the 90s but in the
end, they failed in this endeavor. After that, no one seems to be working in this cryptocurrency
field. But in 2009 an anonymous organization "Satoshi Nakamoto" formed Bitcoin.

Bitcoin Story
It is a mystery who Satoshi Nakamoto is. Because still no one knows whether he or a group of
people. You only communicate with others via email and crypto forums. Satoshi Nakamoto said
in his bitcoin announcement "The Peer-to-Peer Electronic Cash System for Bitcoin". Satoshi
Nakamoto published a paper in 2008 and explained how Bitcoin really works. The first Bitcoin
transaction took place on January 12 between Satoshi Nakamoto and coder Hal Finney of 10
BTC. At some point Bitcoin was very popular among various people who thought it was
important and would be very popular in the future. Earlier one bitcoin was of one dollar in April
2011. But in December 2017 one Bitcoin cost more than $ 20,000. Mow in the present time the
value of one bitcoin is of $ 4,991.
Hundreds and thousands of people are currently using it and no third party is included in the
process. There are various popular websites that accept bitcoin money on their websites like
WordPress, Pirate Bay, ok cupid and Reddit.
There are many other digital currencies that work in the same way but use different codes in
them such as Ethereum, XRP, Litecoin, Primecoin, etc.
Cryptocurrency in reality.
In simple terms, the reality of cryptocurrencies is that If we take all the problematic statistics into
cryptocurrencies and reduce all the noise. You will then find that it contains simple entries or
records in the database and no one can modify it until certain conditions are met. This may seem
strange to you or normal, but the truth of the matter is this simple.
Here is an example of your daily life. Let's talk about the money in your bank account. The
money you have in your bank account is nothing but a database. This database entry can only be
changed under certain circumstances. The fee therefore applies to the guaranteed entry in certain
types of records and ratings.
How does cryptocurrency work?
In cryptocurrency, there is not a single intermediate work record. However, they are distributing
many copies of the magazine worldwide and each owner owns a recording of everything that is
done. They trust each other. How so?
Let me explain in a simple word to you!
For example, you will buy something using cryptocurrency. You will give him all the details
about you and the seller or shop owner will ask all the other bookkeepers who have a record of
each owner if that buyer is worth the money. The record keepers will then check on their records
to see if the consumer has enough money. If the consumer has enough money, they will tell the
shop owner that he has money. Therefore, when the action is taken now everyone will update
their records to show cash flow. Remember that all bookkeepers and ledgers are mostly
computers, not people.
So, there is no way to make a false transaction. But if someone tried to change the book and it
would not be the same as other copies then it was ordered. After that one of the random
bookmakers will get rewarded for it.
1.2 Name of Most Popular Cryptocurrency

Bitcoin: Bitcoin is the first cryptocurrency launched in 2009 by Satoshi Nakamoto. Bitcoin most
popular cryptocurrency and most widely accepted cryptocurrency.
Ethereum: Ethereum is a cryptocurrency system that allows developers to build a variety of
applications and technologies. It is the most reliable cryptocurrency behind Bitcoin.
Ripple: Ripple does not use the blockchain transaction method. They use a different transaction
agreement process that makes it faster than Bitcoin. But it is a weak method and a hacker can
easily get into it. Ripple is, in fact, the RTGS (Great Real-Time Residence Program).
Bitcoin Cash: Bitcoin cash is part of Bitcoin and Bitcoin supports it in producing ASICs for
Bitcoin chips chip.
NEM: NEM uses proof of a function algorithm that is different from all other digital currency
funds. NEM used evidence of value that requires users to have a few coins to get a new one. In
this case, you can track your transaction results. It will tell you the value of specific users.
Litecoin: Launched in 2011 and the purpose of this cryptocurrency would be "digital silver"
compared to Bitcoin's "digital gold". It is also part of Bitcoin and this cryptocurrency can be
digested. It can be used to perform tasks and goods.
Monero: Monero can give you a lot of privacy and you can't easily track monero like going to
Bitcoin. It used signature technology that makes it downloadable and secure.
Dash: Dash is actually digital cash and its use of anonymous technology to secure transactions. It
was also known as Dark coin and is safe and fast.
IOTA: Ledger technology uses IOTA cryptocurrency. Proof of service requires this and the
sender to perform the work.
Why should we buy cryptocurrency?
1. It's easy to get started and you can manage multiple and multiple accounts.
2. A safe haven from hackers and cyber criminals.
3.You do not have to share your personal information with digital currency purchases.
4. One nickname can buy you all digital currency.
5. Millions of users are already using it and it is getting bigger every day.

The History and Evolution of Money [from barter to cryptocurrency]

The history and emergence of money can be traced back ten thousand years. However, it is
impossible for people to be alone without communicating with another person. These
transactions are of various types, and while some involve exchange transactions, others are
financially related. Prior to this, the emergence of money arose when trading became an
important part of human life. Trading in the early years is an exchange, which involves the
exchange of goods or goods for other urgent needs. So, perhaps, you have assets, especially one
that you will not use for the next few days; you can exchange it with someone who is willing.
Therefore, trade by trade.

However, as time goes on, evolution occurs, and the need for a formal tender emerges. Since the
barter had various problems such as a lack of breach of contract, it seeks compliance, as well as
the non-disclosure of other unique goods or services. These problems became more difficult to
deal with as time went on, so a legal tender was needed for everyone to receive in exchange for
goods and services.
1.3 History of Money

Although the financial history can be said to have begun with an exchange program, no real
money has been spent at this time. Here is the financial history, and the evolution of money goes
in the way:

● Property cost:
One of the main reasons for the development of commodity prices. With commodities, most of
the problems with barter trading were much easier to solve. Several goods from different
countries were considered items to be exchanged. Therefore, it was only right that some people
keep salt in their homes for sale at any time. In short, it is worth considering as money as people
are willing to see it as a legal tender. However, commodity money got its misery and soon
became a problem. The demand for efficient exchanges increased, and that coin was developed.

● Coin:
Before you bought Vechain, did you know that money used to be a metal form? You may be
shocked at the bone marrow if this is the first time you have heard this. As commodity prices
began to have problems with travel difficulty, becoming less realistic in their travel and storage
difficulties, the coin came to life. Iron ores are found and used to make coins because metals are
usually very strong, cold and uniform. Since metals are scarce and can be tested for durability,
they are universally accepted. Coins are made with coins of different sizes and colors. However,
like all solutions, coinage began to have gaps. One of the biggest problems with coins is that they
are in one place and can be easily used in terms of weight and purity.

● Fiat money:
With paper money, storage, transportation and financial security became much easier. The
Chinese introduced paper currency, and with its aforementioned features, it was much easier for
it to be widely accepted. After a while, the consolidation of paper money began to emerge. Then
came the issue of inflation, and the need to put money in people's hands.
So, the development of digital currencies - with digital currencies, you can now sell and store
valuables and exchange them for fiat money. Fiat is a traditional currency and has been around
since the currency ran out. However, traditional fiat (paper money) remains relevant, but there is
a great need to switch to the cryptocurrency community.

● Cryptocurrency:
The development of digital currency has seen a new wave of financial emergence. From
unwritten money to paper, the emergence of money has undergone some changes and continues.
The value of digital or financial assets cannot be recognized or felt but can be accumulated,
transferred and exchanged for other assets. The emergence of cryptocurrency began with Bitcoin
in 2009 when Satoshi Nakamoto thought about how to make the first digital currency, Bitcoin.
The need to make money out of poverty arose, and today, there are more than 300
cryptocurrencies known worldwide, and much is being developed. Bitcoin, Ethereum, Cardano,
Vechain and Ripple are some of these cryptocurrencies, each with its own unique structures but
with a common similarity of power sharing. You can buy Vechain, hold it in your wallet and
resell it when the price goes up, or you can join a day trading that can help you earn as many
coins as possible.

Key features of cryptocurrency:

1 Cryptocurrency entrusts to central authorities
In traditional fiat currencies, central authorities and banks, regulate the financial system.
However, with Bitcoin and other cryptocurrencies, these transactions can be processed and
verified by a distributed, open, personalized network. Unlike central banking systems, most
cryptocurrencies are still distributed over networks that are distributed across computers around
the world, also known as nodes. Transactions are verified by network locations through
cryptography and recorded in a publicly distributed platform called blockchain. Activity is
distributed across the peer network and is repeated everywhere, reaching a large percentage of
nodes in a few seconds.
2. Anonymous / Fake-unknown
Since there is no need for a central authority, users do not need to identify themselves when
working with cryptocurrency. When a transaction request is submitted, the intermediate network
will monitor the activity and verify it and record it in the blockchain accordingly.
Cryptocurrencies, like Bitcoin, use a private key and a public key system to verify this
transaction. This means that users can create anonymous digital identities and digital wallets to
operate on a distributed system and the transaction can be done securely.

3. Unstable and irreversible (irreversible)

Digital currency trading is irreversible and irreversible. The immutable and unchanging features
of digital currency mean that it is impossible for anyone other than the right private key holder to
move his or her digital assets and that transactions cannot be reversed when once it is recorded in
blockchain. While no transformation is possible, secure cryptography makes it very difficult to
convert, as it requires you to change multiple locations in the block chain. To prevent fraudulent
transactions (non-refundable), all transactions are explicitly listed on the blockchain and are open
to the public.

4. Limited Sales & Shortages

Fiat currencies (e.g. dollars, euros) have unlimited feeds, as central banks can withdraw as much
fiat money as they want. Central banks often manage the currency of countries as part of their
economic policies. Many countries tend to use their money as a monetary value over time. The
state of inflation in fiat currencies could mean a decline in inflation over time. Therefore, fiat
money managers may bear the cost of depreciation and face uncertainty about money laundering.
On the other hand, most cryptocurrencies have a limited and predetermined supply of digital
currency embedded in its basic algorithm when it is created. For example, Bitcoin has a
maximum of 21 million feeds, and once that limit is reached, no new Bitcoin can be diverted.
Cryptocurrency deliberately creates a need to prevent the use of cash flows and depreciation over
time.
1.4 Advantages and Disadvantages of Crypto

Advantages of cryptocurrency

1. There are no restrictions on payment

There is freedom to pay. For people living under a dictatorship, Bitcoin can serve as an important
financial tool that will be used as a means of exchange without a single business or government
that has the power to govern.

2. Confidentiality Retention
Many people work on it as the name is kept.
Personal information is not subject to dispute because payment can be made and finalized by the
user’s identity.

3. Use of Complex Algorithm

Since Bitcoin uses a sophisticated algorithm, it cannot be controlled by any person, organization,
country as it requires some serious skill to make a digital robbery.

4. Exchange speed
How annoying is it that you all stand in line at the bank within the hours of the bank just to get
your money? How difficult is it when you urgently need money but realize it is a public holiday?
That’s not something to worry about as cryptocurrencies offer very fast transactions. Bitcoin
takes about 10 minutes to verify its exchange and minimal when using other cryptocurrency
methods.

5. No third-party Involvement
Cryptocurrencies are also gaining popularity as no involvement or third-party approval is
required. Removes payment delay. What a great way to exchange especially for freelancers to
constantly complain about payment delays!

6. Free / Very Small Purchase Fee

Most digital currency transactions are usually free. Anyone can exchange without paying any of
the most profitable exchange rates compared to the standard banking system. But others also
offer transaction fees to speed up their transactions.

7. No Depreciation
There will be no inflation because no political force can change the order of use of coins and
mines in cryptocurrency.
Despite the many benefits it has to offer, there are some disadvantages, it is best to keep an eye
on it.

Disadvantages of cryptocurrency

1. Shortage of understanding
People don’t know that digital currency like Bitcoin exists. They do not even have the
background information on the digital origins of money. Cryptocurrency is a newly introduced
system that uses sophisticated blockchain technology, multiple cycles and twists to learn and
adapt. Without understanding cryptocurrency, it is dangerous to deal with it.

2. Application of the Complex Method

It is true that the use of complex algorithms makes it uncommon to create digital heists, but what
is the point if an employee is unaware of the importance of this well? It becomes increasingly
difficult for customers and service providers to understand and use cryptocurrencies in practice.
 3. It is highly variable in nature
From its earliest days, cryptocurrencies have been known to have a very flexible nature. It is
unpredictable and dangerous to invest without understanding the risks. As there is a limited
number of coins and their demand increases with each passing day. As a result, people are
skeptical about whether to invest in it or not.

4. Not universally accepted

Although the hype of cryptocurrency is growing with each passing day, cryptocurrencies are not
universally accepted. Some countries around the world have never adopted and legalized the use
of digital currency, so it can still be difficult to make money globally.

5. Victim of Fraud and Fraud

People find it difficult to understand how cryptocurrencies and blockchain technology work, so
they are often victims of theft and scams by allowing other people to keep a record of their
bitcoins.

6. No Reverse of Payment / No Recovery

Once you have made the payment, you cannot refund it.
If you accidentally send money to someone and then if he refuses to return the money, stop!
there is nothing you can do but feel sorry for yourself.

7. Cryptocurrency may not be changed with fiat money

The government may limit the conversion of cryptocurrencies into fiat currency. No direct
Bitcoins exchange on the common currency used in the market can deplete cryptocurrencies and
is less demanding.
As some financial experts anticipate a major crypto change approaching the market, it is very
important to know both sides as the knowledge of the benefits helps you use its best rates and the
negative information will prevent you from the insecurity.
 CHAPTER – 2
RESEARCH METHODOLOGY

3.1 Methodology

The study method for this term paper was based on ground level report and collection of data
from zero level, for this I personally contacted the people who invest in cryptocurrency, which
include their perspective on the development of cryptocurrency in comparison of past few years
as people nowadays more in cryptocurrency and how countries are getting developed from the
adoption of cryptocurrency and how the era of money [barter to cryptocurrency] changed.

On the other hand, the report represses major points which describes how cryptocurrency works
how secured the information and data is in cryptocurrency, this data also represses the history of
cryptocurrency how the cryptocurrency evolved, basically the evolution of cryptocurrency.

For the study the data is collected from the persons who is investing in cryptocurrency and the
highly knowledgeable person who is educating many more about cryptocurrency and from
experts and data also include how cryptocurrency changing the world, the countries getting
advance by adopting cryptocurrency.
Further from this data, we know that most of the world’s cryptocurrency trading takes place in
this tech-savvy region, with Japan playing a dominant role after it introduced a licensing system
for digital-asset exchanges last year and Hong Kong regulators adopted a more of hand-off
approach.
 Some may view the absence of cryptocurrency as centralization as a way to avoid taxation.
Although, cryptocurrency is observed as assets like bonds and shares in the United States

 OBJECTIVES OF STUDY
The objective of the study is to identify the trends in Crypto and how people are reacting towards
its growth and fluctuation in the market and to identify whether the Indians are ready to accept it.
In this study I have collected data by asking my friends and their family members to fill a
questionnaire from which I have concluded further their response towards crypto.

 SAMPLE SIZE

Sample size consists of 25 people to whom I have sent the questionnaire and asked them to fill
the same for their views on those questions.

 SAMPLE AREA

All this information collected is of Indore & Gwalior. As to the questionnaire was filled by the
people residing in these two cities.

 DATA COLLECTION

The data was collected in two manners:

The primary data was collected from the responses of the questionnaire filled by the people of
Indore & Gwalior. The research includes structured no-disguised questionnaire.
The Second data was collected from the official websites of different crypto currency, investing
websites like Investopedia, and curtain trading sites dealing in crypto. The data has also been
collected from various papers published on Crypto and from various books as well.

 SAMPLING

Sampling was done by observing the data collected and making further conclusions with the help
of the one who is investing in cryptocurrency, from the books and from the websites. When
sampling of the data collected was done so it was found that most of the people think
cryptocurrency are good and secure investment and further this is mentioned in the report.

 MODE OF ANALYSIS

The analysis was made on informal and direct basis data collected from the investors, books and
websites. After this analysis was subjected to various Pie Chart and by the help of these further
conclusions have been made
 CHAPTER – 3
RESULT AND DISCUSSION

The Term Paper is made on the topic MONEY AND DEVELOPING WORLD:
CRYPTOCURRENCY, Cryptocurrency could be a new way to do computer trading. It
encourages people to invest and make a profit. People of all income lumps have invested in it
and more and more are earning huge profits. However, thanks to the high volatility of the
cryptocurrency government’s concerns raised and in order to save more people from facing huge
losses, the Indian government has taken steps to prevent cryptocurrency within the country.
However, after seeing similarities related to cryptocurrency trading in different countries, we
find that despite the announcement and licensing of cryptocurrency and blockchain area unit is
still growing in these countries.

India ranks eighth among various countries in blocking crypto currency. If we often see the ban
on cryptocurrency in various countries and its impact then we will predict a little longer in the
Republic of India more. As China worries, in the middle of the month of 2017, the Chinese
government is increasingly putting the same message in their banks to ban bitcoins and
cryptocurrency commercialism in their country. This eventually created large-scale export trade
and began to exchange in various places. But still investors once the founders do not stop finance
and trade continuity. The Asian nation is increasingly creating its own law seeking to trade in
cryptocurrency. within similar countries such as Japan, Australia, the U.S. and they have become
increasingly aware of the rules governing transactions and dealing with cryptocurrency.
However, outside these countries the local area is still growing within cryptocurrency
transactions.

The effects of Cryptocurrency on the investors :

The high frequency of ups and downs of bitcoins has attracted the attention of many. Starting
with a price of just $ 1000 in January 2017 to $ 15000 in December 2017 it surprised not only
investors but also the government. It is because of this high volatility that the government has
issued three warnings namely in December 2013, February 2017 and December 2017 to people
not to invest in these bitcoins or other cryptocurrencies. Indicates the pros and cons of the
following points-

 Positive Results Trusting in you

In a transaction under digital currency, you do not need the help of a third party as if the Bitcoin
cryptocurrency application is downloaded the person who wants to transfer the money can enter
his code and make the transaction alone.

 Trading comfort
Cryptocurrency can be converted into other currencies and deposited into user accounts at
lightning speed.
By doing any transaction one does not have to stop
online as it is instantly broadcast on the network and confirmed in a few minutes.

 Emergence of New Markets

Cryptocurrency creates a new free and better financial market from the current government that
owns the traditional market. It offers a variety of benefits to investors and retailers.
Data Analysis

Fig. 3.1

Ques: Is Cryptocurrency a good investment option?

In the above pie chart, we can see 84% people [those who attempted the google forms] thinks
that cryptocurrency can be considered as a good investment. Although relatively short-lived,
cryptocurrencies have shown their strength in the world. This is because investing in them is an
easy way to earn a profit in the short term. Compared to shares that will go up to only $ 20 in a
certain year, the investment you make in cryptocurrency can easily increase by 100%.

Fig. 3.2

Ques. Do you have any Crypto Holding currently?

From this figure we can observe that out of 100% people 64% people are investing in the
cryptocurrency. Although relatively short-lived, cryptocurrencies have shown their strength in
the world. This is because investing in them is an easy way to earn a profit in the short term.
Compared to shares that will go up to only $ 20 in a certain year, the investment you make in
cryptocurrency can easily increase by 100%. Although it is a risky venture today, people are not
tired of being completely immersed in this investment option. However, a person who invests in
a winning strategy may be at a disadvantage over time.

Fig. 3.3

Ques. Is investment in Crypto Secure?

In the above statistics 80% of people think that cryptocurrency is secure to invest and rest 20%
people think cryptocurrency are not secured for the investment. Cryptocurrency is a digital
currency that is a more secure exchange. The main idea is that because what is being done is
public, irreparable, especially unaffordable, and controlled by people, users and digital finances
are highly protected.

Fig. 3.4

Ques. What is your prediction on crypto currency valuation 5 years down the line?
As this data is about the future of cryptocurrency according to people.
So, 44% out of 100% people think cryptocurrency will be significantly more worthy compared to
the present worth of the cryptocurrency, 40% out of 100% people think cryptocurrency will
somewhat more worthily compared to present worth of cryptocurrency, rest 12% think
cryptocurrency will have the same worth as same as present worth. But according to the data and
people the worth of cryptocurrency will not decrease, the worth will rise according to the survey.

Fig. 3.5

Ques. How much do you know about any of the Crypto Currency, or have you heard about
them, or read about them?
As this survey is about the popularity of the cryptocurrency so according to the result 56%
people have some information about the cryptocurrency, 28% people have lot of knowledge in
cryptocurrency they are kind of experts, and rest 16% have heard about the cryptocurrency that
means cryptocurrency is popular. Another good reason why cryptocurrency is such a great option
is that they offer great benefits. If you buy Bitcoin when prices are low, you can make a lot of
money while the price of Bitcoin goes up again. Investors have made a lot of money over the last
few years. So, the power is there if you are interested in investing in the cryptocurrency you
want.

CHAPTER – 4
CONCLUSION AND FUTURE PROSPECTS
Cryptocurrency is an interesting and exciting concept that has the potential to fundamentally
transform global currencies for the better. However, while cryptocurrency is based on sound,
democratic principles, it remains a functioning and technologically advanced process. For the
foreseeable future, the imminent sovereignty of monetary policy and monetary policy seems
secure.
In the meantime, those who use digital money (and those who wish to be digitally promised)
need to keep in mind the practical limitations of the concept. Any claims that a particular
cryptocurrency provides complete anonymity or security of legal response are deserving of
deeper attention, as is the case with claims that cryptocurrencies individually represent
opportunities for empty investment or an inflation barrier. At the end of the day, gold is often
hailed as a major barrier to inflation. But it is still subject to wildlife fluctuations, in addition to
many of the world's first major currencies.
Here at Top Brokers Trade, we not only help you choose a good trading site, but we also do
everything we can, to show you how to get started. For more information on trade and
investment, please refer to our articles and category.
Our comprehensive Bitcoin analysis is based on both methods of online books and (large,
separate) shows online the revival of new ideas in building an effective cryptocurrency
strengthening, a long-standing computer security challenge the community. Composing is not
limited to the new cryptocurrency funding protocol projects but has affected many areas of
computer security, distributed applications. This is a rich and deep space and it is not worth it
just ignore it just because a lot of ideas didn't come up from computer science research institutes.
But as our knowledge grew, wisdom is often lacking. This is not to say that Bitcoin is flawless,
as its design is multifaceted quirks show. There are many places, such as the unknown, where
clear designs are proposed. Still basic stability and efficiency, remain unclear in that case it is
possible to design different alignments assigned to power system that can be developed in
Bitcoin.

REFERENCE

Reserve Bank of India (RBI). (2018). "Virtual Currencies (VCs) – Regulatory Framework and
Responses to Frequently Asked Questions." Reserve Bank of India Circular. Retrieved from RBI
Circular.

Reserve Bank of India (RBI). (2021). "Statement on Developmental and Regulatory Policies."
Reserve Bank of India Press Release, February 5, 2021. Retrieved from RBI Press Release.

NASSCOM. (2019). "Blockchain Report 2019: India." National Association of Software and
Service Companies (NASSCOM). Retrieved from NASSCOM Report.

PwC India. (2018). "Blockchain Technology for Inclusive Growth." PricewaterhouseCoopers

(PwC) India. Retrieved from PwC Report.

Ahuja, R. (2021). "Cryptocurrency Regulation in India: A Comprehensive Overview." National

Law University Delhi Law & Technology Society (DLTS) Blog. Retrieved from DLTS Blog.