A big step in the right direction! Crypto banking ban is now lifted.
https://www.ndtv.com/business/supreme-court-allows-trading-in-cryptocurrency-cancels-2018-ban-imposed-by-reserve-bank-of-india-rbi-2189535
Topic: Decentralizing India with Distributed Ledger Technologies (2-part article) (Read 161 times)
March 04, 2020, 02:27:22 AM
January 31, 2020, 02:21:34 PM
A relevant talk (long but worth it) - https://www.youtube.com/watch?v=1dWLa7Uzxd0
December 29, 2019, 02:54:36 AM
More relevant articles frome recent times -
https://government.economictimes.indiatimes.com/news/governance/andhra-pradesh-wants-three-capital-cities-on-decentralization-approach-for-overall-growth/72868073
https://www.bloombergquint.com/opinion/book-excerpt-taking-governance-decentralisation-seriously-by-vijay-kelkar-and-ajay-shah
https://government.economictimes.indiatimes.com/news/governance/andhra-pradesh-wants-three-capital-cities-on-decentralization-approach-for-overall-growth/72868073
https://www.bloombergquint.com/opinion/book-excerpt-taking-governance-decentralisation-seriously-by-vijay-kelkar-and-ajay-shah
November 26, 2019, 07:32:46 AM
Relevant articles - Decentralized Finance in Developing Countries - https://medium.com/@ZOS/decentralized-finance-in-developing-countries-its-potential-and-constraints-5e5fc8fb8651
extreme centralisation of power - https://m.timesofindia.com/business/india-business/india-in-growth-recession-extreme-centralisation-of-power-in-pmo-not-good-raghuram-rajan/articleshow/72423533.cms
Trading of Solar energy pilot program in UP started - https://decrypt.co/12674/blockchain-backed-solar-trading-comes-to-india?utm_source=reddit&utm_medium=social&utm_campaign=rdt
extreme centralisation of power - https://m.timesofindia.com/business/india-business/india-in-growth-recession-extreme-centralisation-of-power-in-pmo-not-good-raghuram-rajan/articleshow/72423533.cms
Trading of Solar energy pilot program in UP started - https://decrypt.co/12674/blockchain-backed-solar-trading-comes-to-india?utm_source=reddit&utm_medium=social&utm_campaign=rdt
October 26, 2019, 07:38:56 AM
relevant talks - Abhijeet Bannerjee talking about the need for decentralizing India - https://youtu.be/ZQD-RwLDiz8?t=494
Related presentations made by Raghuram Rajan talking about the same - https://youtu.be/06uhetn_P5M?t=4312
The common viewpoint appears to be that the current government is too centralized and is trying to micro-manage everything and that simply cannot unleash the potential of a large, diverse economy like India. However, they also mention that decentralization requires more trust, faith and a sort of relinquishment of centralized control as a caveat. I do not believe that this is a caveat in today's world at all if you factor in that we already have the tools for this - Blockchains and DLTs. They are already capable of efficient decentralized governance where the loss of a powerful central overseer can easily be countered with clear cut responsibility, transparency, and accountability on a decentralized system.
Edit: Another very relevant talk - https://youtu.be/ad_A5v0d9hc?t=1142
Related presentations made by Raghuram Rajan talking about the same - https://youtu.be/06uhetn_P5M?t=4312
The common viewpoint appears to be that the current government is too centralized and is trying to micro-manage everything and that simply cannot unleash the potential of a large, diverse economy like India. However, they also mention that decentralization requires more trust, faith and a sort of relinquishment of centralized control as a caveat. I do not believe that this is a caveat in today's world at all if you factor in that we already have the tools for this - Blockchains and DLTs. They are already capable of efficient decentralized governance where the loss of a powerful central overseer can easily be countered with clear cut responsibility, transparency, and accountability on a decentralized system.
Edit: Another very relevant talk - https://youtu.be/ad_A5v0d9hc?t=1142
August 22, 2019, 08:35:35 AM
TLDR version of the two articles -
Part 1 ---
- Historically India is a decentralized country in terms of population diversity, culture, language etc.
- Nature in general and most nature-mimicking systems achieve ultra-high efficiency and autonomy by leveraging smart decentralized consensus.
- It could be argued that the ultimate / most efficient form of human government would eventually leverage the power of such a philosophy, leveraging a bottom-up consensus-based model as opposed to a top-down chain of command.
- A trending centralization in various aspects of India such as population densities, political power, commercial businesses, and new digital platforms are a growing concern. These all lead to unhealthy monopolies, corruption, greed and a China-style surveillance state.
- Technologies such as distributed ledger systems can be put in place to ensure that India remains a decentralized country and also functions much more efficiently and sustainably due to more organic and localized consensus and population densities. This leads to localized education, job creation, wealth creation, and autonomy.
- Even electricity generation from renewables could be tokenized into a decentralized grid across the country. Power could become a tradeable commodity between villages, towns, and cities leading to more reliable, cheap and easily accessible electricity for all.
- In summary, decentralization goes way beyond a crypto-anarchist principle. It is a vital requirement for amazingly efficient, self-sustaining, self-regulating, autonomous and resilient systems of governance (humans included).
Part 2 ---
- King and peasant mindsets remain under the guise of democracy. As long as there is a supreme post of power, there will be a supreme leader with a top-down management style. Such management styles are highly ineffective for managing a place like India. With extreme centralization of power, there comes blind worship of a few blind leaders. However, with decentralization of power, there come more responsible leaders and enlightened followers.
- Technology as a tool for control vs freedom: Are we still adopting new tech in governance, administration, and finance for control or freedom?
- Blockchain: Overview, History and current technological advancements. Usage of the meta-term DLT and the common properties of all Distributed Ledger Technologies.
- Permissioned vs Public ledgers and their application differences.
- Importance of cryptocurrency / tokenization of public ledgers / DLTs. Why it is stupid to try and separate public blockchains / DLTs from their native tokens.
- Current state of crypto in India (as of 2018) and why the stance taken by the RBI / government is a potential recipe for disaster.
- Speculative: If positive regulations are introduced, then how the market can evolve from here and kickstart a revolution.
- Sharing Economies to the rescue: Rising middle-class demands, sustainability challenges, huge population densities and high unemployment can all be overcome with new sharing economy models. However, such models need to leverage distributed ledgers / blockchains in order to stay monopoly-free and trustless.
- Capitalism is flawed: Could shared economies could also take a shared ownership approach? Perhaps when resources are shared, monopolization becomes near-impossible?
- A truly shared economy with resource sharing can be only possible with trustless, public distributed ledgers.
This should give an overview of the contents and ideas explored in the above articles.
Cheers!
Part 1 ---
- Historically India is a decentralized country in terms of population diversity, culture, language etc.
- Nature in general and most nature-mimicking systems achieve ultra-high efficiency and autonomy by leveraging smart decentralized consensus.
- It could be argued that the ultimate / most efficient form of human government would eventually leverage the power of such a philosophy, leveraging a bottom-up consensus-based model as opposed to a top-down chain of command.
- A trending centralization in various aspects of India such as population densities, political power, commercial businesses, and new digital platforms are a growing concern. These all lead to unhealthy monopolies, corruption, greed and a China-style surveillance state.
- Technologies such as distributed ledger systems can be put in place to ensure that India remains a decentralized country and also functions much more efficiently and sustainably due to more organic and localized consensus and population densities. This leads to localized education, job creation, wealth creation, and autonomy.
- Even electricity generation from renewables could be tokenized into a decentralized grid across the country. Power could become a tradeable commodity between villages, towns, and cities leading to more reliable, cheap and easily accessible electricity for all.
- In summary, decentralization goes way beyond a crypto-anarchist principle. It is a vital requirement for amazingly efficient, self-sustaining, self-regulating, autonomous and resilient systems of governance (humans included).
Part 2 ---
- King and peasant mindsets remain under the guise of democracy. As long as there is a supreme post of power, there will be a supreme leader with a top-down management style. Such management styles are highly ineffective for managing a place like India. With extreme centralization of power, there comes blind worship of a few blind leaders. However, with decentralization of power, there come more responsible leaders and enlightened followers.
- Technology as a tool for control vs freedom: Are we still adopting new tech in governance, administration, and finance for control or freedom?
- Blockchain: Overview, History and current technological advancements. Usage of the meta-term DLT and the common properties of all Distributed Ledger Technologies.
- Permissioned vs Public ledgers and their application differences.
- Importance of cryptocurrency / tokenization of public ledgers / DLTs. Why it is stupid to try and separate public blockchains / DLTs from their native tokens.
- Current state of crypto in India (as of 2018) and why the stance taken by the RBI / government is a potential recipe for disaster.
- Speculative: If positive regulations are introduced, then how the market can evolve from here and kickstart a revolution.
- Sharing Economies to the rescue: Rising middle-class demands, sustainability challenges, huge population densities and high unemployment can all be overcome with new sharing economy models. However, such models need to leverage distributed ledgers / blockchains in order to stay monopoly-free and trustless.
- Capitalism is flawed: Could shared economies could also take a shared ownership approach? Perhaps when resources are shared, monopolization becomes near-impossible?
- A truly shared economy with resource sharing can be only possible with trustless, public distributed ledgers.
This should give an overview of the contents and ideas explored in the above articles.
Cheers!
August 19, 2019, 01:37:52 AM
Please consider re-posting part of the article here at the forum itself or atleast sharing facts and opinion regarding the topic here only.
A lot of people don't bother to go over to the blog (Some of them may even be behind firewalls).
If you have useful info to share on this important topic, we'd all be ears and would be glad to send a few merits your way. Thanks!
A lot of people don't bother to go over to the blog (Some of them may even be behind firewalls).
If you have useful info to share on this important topic, we'd all be ears and would be glad to send a few merits your way. Thanks!
August 18, 2019, 02:49:11 AM
Hi Guys,
Considering the current legal battle for crypto regulation in India and also the uneducated and unfavorable stance of our ruling politicians, I want to repost a two-part article that I had written last year with the hope of making people see a different side to crypto and its potential in India. If you have the time to read both, I would love to hear your thoughts and opinions on the ideas put forth.
Article 1 - https://www.minds.com/Cryptobabble/blog/decentralizing-india-with-distributed-ledger-technologies-pa-918027244118855680
Article 2 - https://www.minds.com/Cryptobabble/blog/decentralizing-india-with-distributed-ledger-technologies-pa-918031033260855296
Considering the current legal battle for crypto regulation in India and also the uneducated and unfavorable stance of our ruling politicians, I want to repost a two-part article that I had written last year with the hope of making people see a different side to crypto and its potential in India. If you have the time to read both, I would love to hear your thoughts and opinions on the ideas put forth.
Article 1 - https://www.minds.com/Cryptobabble/blog/decentralizing-india-with-distributed-ledger-technologies-pa-918027244118855680
Article 2 - https://www.minds.com/Cryptobabble/blog/decentralizing-india-with-distributed-ledger-technologies-pa-918031033260855296
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