What do you understand by crypto currency? Do you think crypto currencies should be legalized? Critically analyse.
Answer: A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
Arguments in favour of legalisation
- Blockchain – Decentralized book-keeping: Cryptocurrencies are transparent because the transactions take place on the public blockchain ledger. Transactions are approved and verified by nodes before they get carried forward. This rules out scope for financial malfeasance or fraud.
- Cryptocurrency market’s capacity for growth: Cryptocurrency is a newfound haven in an era where government backed currencies do ....
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General Studies Mains Questions And Answers
- 1 Digital transformation holds immense potential for bringing about rapid socio-economic development of rural India. Discuss.
- 2 Discuss the contribution of moderates in the Indian freedom movement by describing the various methods adopted by them.
- 3 Give an account of the evolution of the relationship between the British power and the Indian princely states during the British rule, mentioning the key developments.
- 4 Describing the importance of big dams in India, throw light on the problems associated with them. Discuss the efforts made for dam safety in the country.
- 5 Urbanization is a double-edged sword for women. Discuss the challenges faced by women in cities and describe the measures to overcome them.
- 6 What is the Model Code of Conduct? Describe the importance and challenges of Model Code of Conduct.
- 7 Discuss the functions and role of the Election Commission of India. How does the Election Commission ensure free and fair elections in India?
- 8 BIMSTEC is an important organization to strengthen India's position in South-East Asia. Mention the major obstacles to the integration of BIMSTEC.
- 9 India and the US have agreed to move forward in the field of space cooperation. Discuss the limiting factors in the path of space cooperation between the two countries and suggest ways to solve them.
- 10 The Nuclear Non-Proliferation Treaty is considered important to prevent the spread of nuclear weapons; yet India is opposed to this treaty. Explain.
