29 April, 2020
7 Min Read
Blockchain technology boost economic recovery: WEF
Part of: GS-III- S&T (PT-MAINS-PERSONALITY TEST)
The WEF said crises such as the coronavirus pandemic dramatically increase pressure on governments and businesses to maintain resilient supply chains. Blockchain technology can help tackle supply chain failures exposed by the coronavirus (COVID-19) pandemic and also boost the economic recovery process, the World Economic Forum (WEF).
What are Blockchains?
Blockchains are a new data structure that is secure, cryptography-based, and distributed across a network. The technology supports cryptocurrencies such as Bitcoin, and the transfer of any data or digital asset. Spearheaded by Bitcoin, blockchains achieve consensus among distributed nodes, allowing the transfer of digital goods without the need for centralized authorisation of transactions. The present blockchain ecosystem is like the early Internet, a permissionless innovation environment in which email, the World Wide Web, Napster, Skype, and Uber were built.
How it operates?
Benefits of blockchain technology:
Kirit Parikh Gas Pricing Panel The government recently appointed a Kirit Parikh committee to review the gas pricing formula. The committee's major recommendations: Maximum cost: A fixed pricing band for gas from old fields, known as APM (Administrative Price Mechanism) gas, is required. These fields produce two-thirds of the co
G20 Presidency of India as a Watershed Moment On December 1, 2022, India will formally assume the G-20 presidency. India will hold the presidency until November 30th, 2023. According to the Prime Minister, India's theme is "One Earth, One Family, One Future." More on the news: Agenda: The Prime Minister described
Women’s Representation in the Courts It was only the third time in the Supreme Court's history that a bench comprised entirely of female justices heard cases. More on the news: Apex Court's all-woman bench: Chief Justice of India D Y Chandrachud has appointed Justices Hima Kohli and Bela M Trivedi to the bench. The Supre
Rare Earth Elements The Confederation of Indian Industry (CII) has urged the government to encourage private mining in the sector and diversify supply sources in light of India's reliance on China for rare earth minerals imports. Despite having 6% of the world's rare earth reserves, India produces only 1% of global output and import
Rooftop Solar Installations According to Mercom Research India, rooftop solar capacity installations in India fell 29% to 320 megawatts (MW) in July-September 2022. What are the Results? Cumulative Installations: As of the end of the third quarter of 2022, cumulative rooftop solar (RTS) installations stood at 8.3 GW. Gujarat overtook
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.