Target Descriptive πŸ“
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A group for Descriptive Writing for Banking ,Regulatory ,SSC Exams !

β˜†β˜ž We are here to Share Our Own Experinces and Hope it would be very helpful for all our Subsribers

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βœ…Important for RRB-Mains-2022

βœ…August.  --  12.41%
βœ… July.     -    13.93%
βœ… June. -      15.50%
βœ… May.   -      15.88%
βœ…April.  -       15.08%
βœ…March -      14.55%
βœ…February  -13.11%
βœ…January  - 12.96%


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βœ…SIDBI Grade A DESCRIPTIVE Previous year Paper -2022

βœ…IMPORTANT FOR
SBI  β€’ RBI β€’ IBPS β€’ LIC β€’ NABARD β€’ IBPS


πŸ”»Cryptocurrency: Pros ,Cons  and its future in India.

Words limit:- 250-300 Words

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Target Descriptive πŸ“
βœ…SIDBI Grade A DESCRIPTIVE Previous year Paper -2022 βœ…IMPORTANT FOR SBI  β€’ RBI β€’ IBPS β€’ LIC β€’ NABARD β€’ IBPS πŸ”»Cryptocurrency: Pros ,Cons  and its future in India. Words limit:- 250-300 Words ✺ ᎫᴏΙͺΙ΄ πŸ”₯ ⃝βž₯ @TargetDESCRIPTIVE βœ…Answer will be publish on…
βœ…SIDBI Grade A DESCRIPTIVE Previous year Paper -2022

βœ…IMPORTANT FOR
SBI  β€’ RBI β€’ IBPS β€’ LIC β€’ NABARD β€’ IBPS


πŸ”»Cryptocurrency: Pros ,Cons  and its future in India.


βœ…Self Written :- [
@TargetDescriptive]

βœ…As the world moves towards the 4th Industrial revolution, responsible agencies are working hard to provide advanced human capital development. In this way, cryptocurrency is an example of how advancement processes are being revolutionized day by day. Cryptocurrency is a digital asset, encrypted by codes using Blockchain Technology. The primary motive behind this technology is to Offer intermediaries free digital transactions, excluding the third party from the virtual transaction and letting Sender and reciever have Autonomy over their money.

πŸ’₯In recent years, as the world experienced a number of Security threats and their's Data breached, Cryptographic transactions came into existence as an alternative transaction and provided users a safe place to transact their business dealing, but in the last couple of years, unprecedented growth has been seen in this asset Class.

πŸ’₯Pros:-
1. There is no involvement of Third-party like, banks, Credit or debit while transacting funds across the world.

2. Safe Transaction, and Data Protection.Full-proof Anonymity.

3. Fund transfers are completed with minimal processing fees because hardly any intermediaries are involved in the process.

4. Every transaction is verified through multiple security layers,like Generating a New private code for every transaction,

πŸ’₯Cons:-

1. Cryptocurrency can promote money laundering, terror funding, and Hawala transaction as there is Complete anonymity of users.

2. Due to its Virtual nature, many analysts raise eyebrows as it would be Vulnerable to Hacking and breaching users' data.

3. In a Crypto transaction, as there is no third party involvement so they don't have any Sovereign Guarantee, nor any Authoritative responsible protection,a threat to risk.

4. Volatile nature of Crypto:-
Sometimes Its value fell drastically and sometimes steeply rise.

🌈In 2018, Cryptocurrency was banned by the Central Bank but the move was challenged in the Supreme court, and as article 19, Our Constitution guarantees, every citizen has the right to transact his/her legitimate business freely and after then the Order was declared unconstitutional.

πŸ’₯In a recent development, finance minister  Nirmala Sitharaman announced, Govt is pondering over Digital Currency and Crypto transactions, in the Future Govt might legalize the process across the nation. She proposed a tax of 30% on Income from Cryptocurrency and other digital assets in the 2022-23 budget session.

βœ… Govt should come up with full proof regulating mechanism through which any common person can avail of a fair and transparent transaction.


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