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Report on Crypto currency : The new age digital money
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Title of the event: |
“CC Crypto currency: The New Age Digital Money”
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Date: |
“Cry3rd June 2022
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Target Audience: |
BBA/BCOM/BCA |
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No of participants: |
200 |
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Resource person - Name: |
Dr. Raaji Pillai |
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Designation: |
Director |
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Organization: |
Sheshadripuram First Grade College |
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Mail id: |
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Mobile No: |
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Venue: |
Zoom platform |
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Report prepared by: |
Sara merchant And Megha |
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Faculty In-charge: |
PROF.HEMAVATHI.S |
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On 3rd June 2022, our college’s IQAC and Finance Club organized a virtual event via zoom for BBA /BCOM AND BCA students . The topic of the event was Crypto Currency: The new age digital money, Dr Raji addressed and briefed us on the topic. She started it off by explaining to us in brief “What is cryptocurrency” and the different terms and aspects elated to it, and how its used primarily outside existing banking and governmental institutions, and exchanged over the internet. We further learnt that there are 18,465 cryptocurrencies in existence out of which 10,363 cryptocurrencies are active and how there are over 300 million cryptocurrency users across the globe. She further discussed about CRIX Index and the active currencies by the date of introduction wherein we were briefed about the different currencies and their founders as well as the programming language of implementation, and how blockchains are used to secure such transactions by using different methods and techniques to have successful secure transactions. We further went on to learn about Bitcoins, which is a cryptocurrency and worldwide payment system, it is the first decentralized digital currency as the system works without a central bank or single administrator. Dr Raji further explained to us the history of cryptocurrency between the years 1998 and 2018, of how in 1998 ‘bit gold’ a virtual currency has issues getting created and in 2018, bitcoins value passes $19000.
We were further briefed on how common Crypto is in the world as of 2020, as found
by statistics which show that Nigeria has the highest owners of Cryptocurrency of 32%,
India has 9% owners of cryptocurrency, US 6%, with Japan having the lowest of 4%.
In the end, we found out about crypto currency in India specifically – it emerged in
India for the first time around 2009 as a bitcoin transaction, Unocoin is a very popular
crypto exchange in the country. It was the first entrant in the bitcoin Space in India,
they started their operations in Tumkur, Karnataka and later were shifted to
Bengaluru.
In conclusion we learnt what is cryptocurrency, the different types of it such as Bitcoin,
and learnt about securing transactions through block chain, the different aspects and
mainly focused on cryptocurrency in India, we were made aware of it and how its
going to hold an importance in the future.
This was a very informative session for us students and it clarified our doubts to a great
deal and gave us the edge we need in order to invent in cryptocurrency and make use of the information we were given. This session personally helped us gain a lot of insight and knowledge, for most of us weren’t too aware on the topic.
