All about Cryptocurrencies including Bitcoin

All about Cryptocurrencies

By Dr. Lalit Kumar Setia |  @drlalitsetia  |  drlalitsetia@gmail.com  |  Created Jan 26, 2018

Updated Jun 30, 2019

The Government of India (GoI) treated the Crypo-currencies as ‘ponzi scheme’and banned it to safeguard the interest of investors. A lot of debates are carried out to decide whether it should be allowed in India or not. The Crypto currencies such as Bitcoins are considered by the ‘Investor Education and Protection Fund (IEPF) Authority’ under ‘Corporate Affairs Ministry’ and thereafter banned.

What is Cryptocurrency?

During Jan 2017 to Nov 2017; the Bitcoin has jumped from under $1000 to $10000 which means a return of over 900% and it made the minds of speculators work for more trading in Bitcoins. Before understanding Bitcoin, one should also understand block chain. Block chain is a name given to a tamper-proof digital ledger used to record financial transactions. And the technology involved in block chain made possible the functioning of cryptocurrencies like Bitcoin. Who is behind the surge in prices of Bitcoin? Apart from Bitcoin, there are other such currencies in international market i.e. Ethereum, Ripple and Litecoin but there is not such upwards trend in their prices. Due to surge in the prices of Bitcoin, the interest of investors in currencies based on block-chain technologies is continuously increasing.

In India, the consensus is upon protecting the interests of investors; and as the ‘Corporate Ministry’ considers its viability in long-term and associated risks, keeping in view steep fluctuations in its prices; declared it as banned. However, the crypo-currencies are digital units with encryption used to trade in currencies independently of a central bank.

In the modern age of Information Technology, the speculation has also been transformed. The bad habits are making youth oversee the value system and be greedy. The virtual papers like bonds, currency agreements, virtual currencies i.e. cryptocurrency have become a point of attraction particularly for those people who are not earning money with making hard-efforts. Very few people are aware of Crypto-currencies or digital currencies created and stored electronically in blockchains. The people having trust in digital life are adopting these currencies with using encryption techniques to transfer the money at various locations of the world. There is need to aware people for ethics and values by organizing campaigns. The cyber crimes are also taking place due to mal-practices in routine works. With the surge in price of Bitcoin, massive gains are being made by hedge funds.

What is Bitcoin?

In 1998, Wei Dai suggested an idea to form money using cryptography without involvement of any central authority. It is interesting to know that nobody owns the network of Bitcoins however the Bitcoin users require use of software by complying the rules of Bitcoin protocol. The Bitcoin is basically a mobile app providing personal Bitcoin wallet for sending and receiving Bitcoins. Behind this wallet, there is shared digital public ledger known as block chain. The transactions are recorded in the ledger and can be verified by the user with use of digital signatures. There is also facility of “mining” which gives opportunities to users processing transactions with computing power of specialized hardware to earn rewards in form of Bitcoins.

The Bitcoin is basically peer to peer e-cash secured with messages, emails, digital signatures on the basis of cryptography and the recording of transactions on digital ledger normally called block-chain. 

Previous : Should we invest in Cryptocurrencies like Bitcoins

Next: Advantages and Disadvantages of Bitcoins

*Copyright © 2018 Dr. Lalit Kumar. All rights reserved.  

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Everything about Computer Viruses and Data Theft

Everything about Computer Viruses and Data Theft

-Dr. Lalit Kumar Setia*

The computers are usually affected from Viruses and the motive behind spreading viruses in the network is to steal information. When a human being suffered from a disease, that disease affects the organism and produces disorders in human’s functions. The study of disease is called pathology which studies the cause of disease. Each disease has its symptoms including disorders in the life-style of affected person. A computer virus is a software program designed to perform malicious actions, self-replicate itself on other files available in the storage of computer. Like bio-logical virus which cannot reproduce without a host cell, the computer viruses also cannot reproduce and spread without programming such as a file or document.

A computer virus infiltrates the security mechanisms of computer system i.e. firewall, functioning of anti-virus and anti-malware; infects the host computer and performs the tasks programmed in its coding. The computer virus sits inside the computer in form of a code and attacks various processes of computer. The computer virus is mostly coded in the form of a program or script or macro and designed to cause damage either by stealing information or modifying data or sending e-mails. The file containing virus is whenever executed, it starts spreading itself by copying into and over data files. Even the boot-sectors are infected with the viruses. Some viruses start displaying messages to the users and some reduces the speed of computer, while some start erasing files in the background and even prompt to reformat the hard-drive.

How a computer virus is created?

The interesting point is how a computer virus is created? The computer virus is written in notepad with the help of various commands capable to disrupt the normal functions of a computer. Elk Cloner was the first computer virus written by Rich Skrenta in 1982. In the file, the commands can be written to delete the primary files of windows through which the computer’s operating system run. In case, there is anti-virus installed on the computer, that will restrict the file to be run but in case, there is no anti-virus, the program can easily make the computer affected badly. Such files can also be viral through email attachments.

However, once a virus such as ransomware entered into a computer or laptop or smartphone, it starts to hijeck the primary root directory from where the device works. It makes the commands non-functional and also restrict anti virus to work properly. It locks the computer by stopping aceess from keyboard and mouse. Then it encrypts the content of the storage devices with putting restrictions to open and view the contents. 

Recently, the wanna cry virus infected the computers around the world with demanding significant amount to pay within 72-hours in form of Bitcoins. In case, the amount was not paid, the demand was further increased. 

Stay Updated - Stay Protected - Keep Privacy 

*Copyright © 2017 Dr. Lalit Kumar.

Next: How a computer virus spreads on networks?
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e-Procurement and Purchase Matters

e-Procurement and Purchase Matters

-Dr. Lalit Kumar Setia*

The procurement process in Public Sector Undertakings and Departments is under transition phase. Earlier everything in the process had been performed manually but with the progress in information technology; the whole store management and procurement have been changed. The procurement is now e-Procurement and the purchase is now through Government e-Marketplace  (GeM). Even the tendering has been transformed to e-Tendering.

The role of Drawing and Disbursing Officers, Head of Departments, Accounting people and Supervisors have become totally challenging. There is need to develop the capacity and sharpen their skills to perform their operations with more sincerity without committing economic offenses.

The training programme on eProcurement, Purchase Matters and Inventory Management will definitely boost the morale and build confidence of officers to deal and function with the new emerging technologies.

During the course, the officers will be provided an exposure to the demonstrations of e-Procurement and Government e-Marketplace; the physical verification and condemnation of un-serviceable articles will provide an exposure to the process of store management and auction with following proper mechanisms. This is provided by Sh. Norang Lal. Further issues of Purchase Matters and Audit concerns in procurement are thoroughly interacted by Sh. Ram Avtar Kaushik. In last sessions, frequently asked questions are discussed by group discussions and thrust areas of the participants will again be touched.

The training programme is designed and organized at regular intervals at Haryana Institute of Public Administration, Gurugram  (Delhi-NCR).

*Copyright © 2018 Dr. Lalit Kumar. All rights reserved.

Financial Terminology for Finance Officers

Financial Terminology for Finance Officers

-Dr. Lalit Kumar Setia* 

Previous....

·                 Back up – 

A process to create duplicate record of any original data or files. The back up is used to recover the data or files whenever data or files deleted incidentally.

·                 Balance of payments (BOP) – 

It refers to the record of an economy’s transactions with rest of the world and includes three accounts i.e. current account, capital account, and gold.

·                 Balance Sheet – 

A statement citing financial position of a business at a particular point of time. It shows the balances of assets, liabilities, and capital of the business.

·                 Bankrupt – 

It refers to negative financial position of any business or individual when liabilities become greater than assets. Such business or individual can use bankruptcy i.e. a legal process to be declared bankrupt seeking legally elimination of the debts.

·                 Barter – 

It is a system in which goods and services are exchanged without using money.

·                 Benchmark – 

It refers to a standard or norm fixed to measure or evaluate the performance of individuals and organizations. The process used for fixing benchmarks known as Benchmarking.

Continued...... 

*Copyright © 2018 Dr. Lalit Kumar. All rights reserved.

1. Compliance of Financial Rules in Government Organizations
2. Financial Terminology for Drawing and Disbursing Officers and Financial Executives
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5. Financial Terminology for Drawing and Disbursing Officers and Financial Executives
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8. Superintendents enforce and supervise administrative control

Financial Terminology for Finance Officers

Financial Terminology for Finance Officers

-Dr. Lalit Kumar Setia*

There are various financial terms used frequently in business newspapers, articles of economics, and financial stuff available online. Each Drawing and Disbursing Officer, Financial Manager, Economist, Bureaucrat, and Minister should aware of these terms to perform their functions more confidently. After compiling the information, such terms have been collected, researched and described as under:

·                 Abatement – 

It refers complete or partial cancellation of a levy imposed by a government. The abatements apply to tax levies, special assessments, and service charges.

·                 Accrual – 

Accrual means which has happened but receipt or payment for which has not been processed. In other words, those expenses which have been incurred but payment is not made will be accrued expenses and those incomes which have been earned but amount is not received yet, will be accrued incomes.

·                 Amalgamation – 

A process of consolidation or merger in which two or more entities are merged and transformed to a single entity.

·                 Anomaly – 

Something different from common rule, happens irregularly and becomes difficult to be explained with any particular theory or rules. For example, in fixation of pay, sometimes pay is fixed but it is fixed wrongly and challenged by the affected person; known as anomalies in pay fixation.

·                 Appraisal – 

It is evaluation of usefulness of person or entity. Performance Appraisal will be evaluation of performance. Project Appraisal will be evaluation of Project. Usually, appraisals are made to support the decision-making.

·                 Arbitrator - 

A person assigned with the task of arbitration (sorting out any dispute). He or she listens both parties of the dispute and gives a ruling which seems fair to both parties, in that case.

·                 Audit – 

It refers to the process of checking or verifying records relating to rules and regulations. The person associated with the task of audit, is known as auditor.

·                 Automatic teller machine (ATM) – 

A machine which dispenses cash and also allows banking customers to perform a set of financial transactions with the help of debit or credit cards.

Continued..... 

*Copyright © 2018 Dr. Lalit Kumar. All rights reserved. 

Previous Article : Block Chain for Publishers – Future of Authors and Readers  

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3. Organizational Performance depends upon Accountability and Compliance of Rules
4. Fixing Responsibility of an Officer or Staff in Frauds & Embezzlement
5. Financial Terminology for Drawing and Disbursing Officers and Financial Executives
6. Tax Deduction at Source for Deductors
7. Fixing Responsibility of an Officer or Staff in Frauds & Embezzlement

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Block Chain for Publishers

Block Chain for Publishers

-Dr. Lalit Kumar Setia*

When I was doing my graduation in the year 2002, there was a software generally used to frame the projects i.e. Dbase III plus. Then Foxpro Dbase came and replaced that software. Thereafter MS-Access came and replaced the same. Sh. Santoshi Nakamoto wrote a white paper on how to apply blockchain in cryptocurrencies like Bitcoin, and make virtual currencies work without the central banks**. Now-a-days, the database can be shared through clouds and it made possible to create a chain of data. A block-chain is basically a database which is shared across a network of computers. The users can add data in the shared database and due to this feature, the blockchain has become a tool for various applications including Bitcoin cryptocurrency, Amazon selling portal etc.
It is blockchain which allows to perform transactions, record them, and circulate among the stakeholders. The blocks of blockchain stores the place, time, and value of the transaction and the blocks are linked to unique 'digital signature' of the buyer and seller. Suppose a buyer purchases bitcoins by using debit card and verifies the transaction electronically by providing One Time Password (OTP). During the transaction, the buyer pays money to the Bitcoin exchange. The money is kept in digital wallet in form of bitcoins. 

Block Chain for Amazon and Bitcoin:

In the era of Bitcoin, Amazon, and other virtual success stories; imagination of block chain for publishers cannot remain a dream. Bitcoin provides channel to exchange money, Amazon provides channel to buy and sell commodities, and Publica provides channel for direct transactions among authors and readers.

Digital Keys in Publishing:

The use of digital keys in trade transformed the life-styles around the world. The reach to any market or a group of people relating to a specific interest; has become a big issue for sellers and service providers. The data-scientists are coming in each area to use block chain technology for the easiness of sellers and service providers. The use of mobile and tablets made everyone to read e-books, e-newspapers by zooming the content with the help of fingers. Since readers are not preferring to read printed books, the publishers are also deciding to release the electronic version of their printed books. They have started to promote their books by using blogs and advertising upon the related websites.

Publica and Smashwords as New Block Chains:

In publisher’s zone, there are various choices to authors now-a-days i.e. Amazon’s kindle, Publica, Smashwords, Kobo, Harper Collins etc. to get their ebooks published and sold through online platforms.

The considerable point is that these channels are supporting authors with providing channels to approach readers of their interest, with minimum cost. Due to such networks, there are plenty of book available free of cost to the readers. The editing and proofreading of the written content is not a problem, now-a-days. Leading the block-chain community, Josef Merc, the Chief Executive Officer of Publica; provided first protocol for decentralized publishing.

Publica : The future of Publishers and Readers:

The Publica protocol uses a currency known as Pepples (PBL, ERC20 token). For the purpose of buying or selling over the Publica network, one has to use Pebbles or PBL tokens. For example, if somebody wants to access key to a literary work published through Publica; he has to pay in PBL tokens and even the supply of PBLs is fixed and locked. One can access the Publica software by retrieving the webpage at https://publica.io/ and enter as author to sell his writings. 
*Copyright © 2018, Dr. Lalit Kumar
References:
**This information has been retrieved from "What are the advantages blockchain offers?" written by Jocob Koshy published in 'The Hindu' dated 21st July, 2019, Pg. 14 

Best Questions - Important Questions for English in Competitive Examinations

Best Questions - Important Questions for English in Competitive Examinations 

Every student requires best questions to prepare for success in examinations. A lot of study material available online to meet the requirements. It is must to score high in examinations to get selected. The content is available without paying no charges. 

One Word Substitution

Cache→ गुप्त या दुर्गम स्थान जहाँ एक ही प्रकार की वस्तुओं का संग्रह हो/ छिपाने की जगह / गुप्त भण्डार  

Casino→ एक सार्वजनिक कमरा या इमारत जहां जुआ खेला जाता है  

Cemetery→ एक बड़ा कब्रिस्तान 

Crematorium→ जगह जहां मृत व्यक्ति के शरीर का अंतिम संस्कार किया जाता हो 

Creche→ जहां छोटे बच्चों का दिन भर ध्यान रखा जाए/ पालना घर 

Dormitory→ स्कूल या संस्थान में कई लोगों के लिए एक बड़ा बेडरूम 

Cloakroom→ सार्वजनिक इमारत में एक कमरा या लॉकर जहां कपड़े या सामान छोड़ा जा सकता है 

Convent→ विशेष रूप से नन के लिए एक धार्मिक निवास

Next topic :
Computer Aided Operations - Useful Tips

Computer Aided Operations - Useful Tips

Computer Aided Operations - Examples Important MS Excel Shortcut Keys

-Dr. Lalit Kumar Setia*

The article describes various short-cut keys which can be used to perform the financial operations more efficiently using spread-sheets in a software i.e. MS-Excel.  the latest content usually being asked in Competitive Examinations in English Subject.

It is must to learn excel shortcuts in order to perform fast and effectively at workspace. There are a lot of techniques built on the basis of shortcut keys.

Ctrl+A - Select All	Ctrl+B - Bold	Ctrl+C - Copy
Ctrl+D - Fill Down	Ctrl+F - Find	Ctrl+G - Goto
Ctrl+H - Replace	Ctrl+I - Italic	Ctrl+K - Insert Hyperlink
Ctrl+N - New Workbook	Ctrl+O - Open	Ctrl+P - Print
Ctrl+R - Fill Right	Ctrl+S - Save	Ctrl+U - Underline
Ctrl+V - Paste	Ctrl W - Close	Ctrl+X - Cut
Ctrl+Y - Repeat	Ctrl+Z - Undo	F1 - Help
F2 - Edit	F3 - Paste Name	F4 - Repeat last action
F4 - While typing a formula, switch between absolute/relative refs
F5 - Goto	F6 - Next Pane	F7 - Spell check
F8 - Extend mode	F9 - Recalculate all workbooks
F10 - Activate Menubar	F11 - New Chart	F12 - Save As
Ctrl+: - Insert Current Time	Ctrl+; - Insert Current Date	Ctrl+" - Copy Value from Cell Above
Ctrl+’ - Copy Formula from Cell Above	Shift+F1 - What’s This?	Shift+F2 - Edit cell comment
Shift - Hold down shift for additional functions in Excel’s menu
Shift+F3 - Paste function into formula	Shift+F4 - Find Next	Shift+F5 - Find
Shift+F6 - Previous Pane	Shift+F8 - Add to selection	Shift+F9 - Calculate active worksheet
Shift+F10 - Display shortcut menu	Shift+F11 - New worksheet	Shift+F12 - Save
Ctrl+F3 - Define name	Ctrl+F4 - Close	Ctrl+F5 - XL, Restore window size
Ctrl+F6 - Next workbook window	Shift+Ctrl+F6 - Previous workbook window	Ctrl+F7 - Move window
Ctrl+F8 - Resize window	Ctrl+F9 - Minimize workbook	Ctrl+F10 - Maximize or restore window
Ctrl+F11 - Inset 4.0 Macro sheet	Ctrl+F1 - File Open	Alt+F1 - Insert Chart
Alt+F2 - Save As	Alt+F4 - Exit	Alt+F8 - Macro dialog box
Alt+F11 - Visual Basic Editor Ctrl+Shift+F3 - Create name by using names of row and column labels
Ctrl+Shift+F6 - Previous Window	Ctrl+Shift+F12 - Print	Alt+Shift+F1 - New worksheet
Alt+Shift+F2 - Save	Alt+= - AutoSum	Alt+’ - Format Style dialog box
Ctrl+` - Toggle Value/Formula display		Ctrl+Shift+~ - General format
Ctrl+Shift+A - Insert argument names into formula		Ctrl+Shift+! - Comma format
Alt+Down arrow - Display AutoComplete list		Ctrl+Shift+@ - Time format
Ctrl+Shift+# - Date format	Ctrl+Shift+$ - Currency format	Ctrl+Shift+% - Percent format
Ctrl+Shift+^ - Exponential format	Ctrl+Shift+& - Place outline border around selected cells	Ctrl+Shift+_ - Remove outline border
Ctrl+Shift+* - Select current region	Ctrl++ - Insert	Ctrl+- - Delete
Ctrl+1 - Format cells dialog box	Ctrl+2 - Bold	Ctrl+3 - Italic
Ctrl+4 - Underline	Ctrl+5 - Strikethrough	Ctrl+6 - Show/Hide objects
Ctrl+7 - Show/Hide Standard toolbar	Ctrl+8 - Toggle Outline symbols	Ctrl+9 - Hide rows
Ctrl+0 - Hide columns	Ctrl+Shift+( - Unhide rows	Ctrl+Shift+) - Unhide columns
Alt or F10 - Activate the menu	Ctrl+Tab - In toolbar: next toolbar	Shift+Ctrl+Tab - In toolbar: previous toolbar
Ctrl+Tab - In a workbook: activate next workbook	Shift+Ctrl+Tab - In a workbook: activate previous workbook
Tab - Next tool	Shift+Tab - Previous tool	Enter - Do the command
Shift+Ctrl+F - Font Drop Down List	Shift+Ctrl+F+F - Font tab of Format Cell Dialog box	Shift+Ctrl+P - Point size Drop Down List

*Copyright © 2018 Dr. Lalit Kumar. All rights reserved.

Next Topic :                                                          Creativity Example - Thinking out of Box

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