Bitcoin Current Affairs, GK & News
Bitcoin
Bitcoin is a piece of digital code which is also used by people as currency. It was started in 2009 by Satoshi Nakamoto, whose real identity is still shrouded in mystery. The maximum number of bitcoins that can be created is limited to ~21 million. How can one get bitcoins? Mining: Bitcoins are hidden in ..
..Read MoreWorld’s First “Crypto-Backed” Payment Card
Crypto lender Nexo has collaborated with Mastercard to launch the world’s first “crypto-backed” payment card. This launch has signaled the move by financial and crypto networks to collaborate as digital assets are becoming more mainstream. Overview: Initially, the card will be available in selected European countries. It will allow users to spend without selling their ..
Month: Current Affairs - April, 2022
Category: Economy & Banking Current Affairs • International Current Affairs
Topics: Bitcoin • Crypto-Backed Payment Card • digital assets • DiPocket • Mastercard • Nexo
IMF on El-Salvador Bitcoin legal tender
The International Monetary Fund recently asked El Salvador to remove the legal status of bitcoin. What happened? In September 2021, El Salvador became the first country to allow its consumers to use cypto currencies. Fear arose all over the country that bitcoin might bring inflation and instability to the country. What is IMF Saying? IMF ..
Month: Current Affairs - January, 2022
Category: Economy & Banking Current Affairs • International Current Affairs
Topics: Bitcoin • Crypto Currency • El Salvador • International Monetary Fund (IMF) • World Bank
Digital Yuan Wallet Apps
Digital Yuan is the digital currency of China. It was first launched in 2014 and has been working (test working) since then. The Digital Yuan is not a crypto currency. It is controlled by the Central Bank of China. The Government of China has plans to launch the currency internationally at Winter Olympics 2022. It ..
Month: Current Affairs - January, 2022
Category: Economy & Banking Current Affairs • International Current Affairs
Topics: Bitcoin • China • Digital currency • digital yuan • Yuan
Myanmar: NU Government officially accepts Tether cryptocurrency
Myanmar’s shadow government has allowed the use of world’s largest cryptocurrency called Tether. Key Points Tether Cryptocurrency will be used as an official currency. This move will make it easier to raise funds and make payments. Background The National Unity Government (NUG) comprises of pro-democracy groups and some members from Myanmar’s civilian administration, which was ..
Month: Current Affairs - December, 2021
Category: International Current Affairs
Topics: Bitcoin • Cryptocurrency • military control in Myanmar • Military Coup • Tether Cryptocurrency
Karnataka Bitcoin scam: Things to know
Central Crime Branch Police of Bengaluru, arrested 26-year-old Srikrishna Ramesh alias Sriki, on November 4, 2020. What is the issue? He was arrested as per provisions of Narcotic Drugs & Psychotropic Substances (NDPS) Act in a drug case. Sriki has been accused of procuring drugs using bitcoins via darknet and peddling to high-profile clients. This ..
Month: Current Affairs - November, 2021
Category: States Current Affairs
Topics: Bitcoin • cryptocurrencies • Karnataka Bitcoin scam • UPSC