|
Title: [2015-10-26] ToI: Tech behind bitcoin can help check counterfeiting: RBI Post by: polynesia on December 26, 2015, 04:53:42 AM Tech behind bitcoin can help check counterfeiting: RBI
http://timesofindia.indiatimes.com/business/india-business/Tech-behind-bitcoin-can-help-checkcounterfeiting-RBI/articleshow/50329014.cms "With its potential to fight counterfeiting, the 'blockchain' is likely to bring about a major transformation in the functioning of financial markets, collateral identification (land records for instance) and payments system," said the RBI. The central bank pointed out that the traditional system of record maintenance works on the basis of 'trust' and the 'regulatory' and 'controlling' power of central entities/counter parties. "As against this, the 'blockchain' technology is based on a shared, secured and public ledger system, which is not controlled by any single ('central') user and is maintained collectively by all the participants in the system based on a set of generally agreed and strictly applied rules," the RBI said. Title: Re: [2015-10-26] ToI: Tech behind bitcoin can help check counterfeiting: RBI Post by: btc_enigma on December 28, 2015, 05:18:00 AM Finally some positive news at the end of the year !! Nice.
Title: Re: [2015-10-26] ToI: Tech behind bitcoin can help check counterfeiting: RBI Post by: dashingriddler on December 29, 2015, 04:08:21 AM And that also means they are willing to go cashless. Good sign
Title: Re: [2015-10-26] ToI: Tech behind bitcoin can help check counterfeiting: RBI Post by: polynesia on December 30, 2015, 12:43:45 AM Finally some positive news at the end of the year !! Nice. Some positive news, yes. This does show that they have an open mind. It would be good if they issue some advisory/clarification (positive) on Bitcoin as well. |