Question: Which of the following cities have got India’s first Bitcoin ATM Kiosk?
(a)New Delhi
(b)Kolkata
(c)Bengaluru
(d)Hyderabad
Answer:(c)
Related facts:
- Bengaluru gets India’s first Bitcoin ATM kiosk despite the RBI’s virtual ban on cryptocurrency deals.It has been set up by cryptocurrency exchange Unocoin.
- Unocoin, a blockchain solution provider has planned to open another set of ATMs in Mumbai and Delhi in a couple of weeks.
- Anybody who wants to transact through these ATMs, has to register through website or Application then they will get a reference number.
- Through this reference code and an OTP sent to users mobile, a person can exchange Bitcoin with Indian rupee.
- World’s first Bitcoin ATM was open in Canada in October
Bitcoin:
- Bitcoin is an electronic currency created and stored in block chains. It is a digital currency that is open-source, with a design that is public and nobody owns or controls it, but everyone can take part.
- Bit coin is one of the thousand-plus alternative currencies (or alt-coins) enabled by a potential world –changing technology called Blockchain.
- These were born of a seminal paper written by Satoshi Nakamoto in
Blockchain technology:
- Blockchain technology is where the ledger is distributed to peers across a network-promises enhanced security, trust and transparency over traditional book-keeping systems.
- Blockchain technology offers a way of recording transactions or any digital interaction in a way that is designed to be secure, transparent, highly resistant to outages, auditable and efficient.
- It carries the possibilities of disrupting the economies in manufacturing, real estate, stock exchanges, transportation, smart cities, e-commerce, and any business that depends upon accounting and auditing, and database.
By Ramayan Upadhyay
Links:
https://www.thehindu.com/sci-tech/what-are-alt-currencies-and-are-they-for-you/article19533970.ece