This document provides an overview of cryptocurrency including what it is, popular types like Bitcoin, how blockchain works, the legal status of cryptocurrency in India, how it could change the world, criticisms, and companies that accept cryptocurrency. Cryptocurrency uses cryptography to secure online transactions of digital currency that can be used to buy goods and services. There are over 10,000 cryptocurrencies traded publicly with a total value of over $1.3 trillion in July 2021. Bitcoin is the earliest and most popular cryptocurrency launched in 2009. Blockchain stores transaction data in chained blocks providing a secure and chronological record. The legal status of cryptocurrency in India is currently unregulated.

1. Submitted By :
Ronak Koshti 37
Yashvi Sheth 26
Pooja Mehta 15 (Group - 3) Submitted To : Dr . Riddhi Dave
Cryptocurrency

2. Outline
1. Cryptocurrency
2. Types of Cryptocurrency
3. Bitcoin
4. Blockchain
5. Cryptocurrency is Legal or Not In India ?
6. How Cryptocurrency will change the World ?
7. Criticism of Cryptocurrency
8. Companies accepting Cryptocurrency

3. A cryptocurrency (or “crypto”) is a Digital currency (virtual currency) that can be used
to buy goods and services
But uses an online ledger with strong cryptography to secure online transactions.
More than 10,000 different cryptocurrencies are traded publicly
The total value of all cryptocurrencies on July 16, 2021, was more than $1.3 trillion —
down from April high of $2.2 trillion, according to CoinMarketCap.

4. Types of Cryptocurrency
1. Bitcoin
2. Litecoin
3. Ethereum
4. Ripple
5. Stellar
6. NEO
7. Cardano
8. IOTA
Many more…

5.  Earliest virtual currency , popular and successful
 Launched in 2009 by an individual or group known by “Satoshi Nakamoto.”
 El Salvador is the only country in the world to allow bitcoin as legal tender.
 As of March 2021, there were over 18.6 million bitcoins in circulation with a
total market cap of around $927 billion.
 The total value of all bitcoins, the most popular digital currency, was pegged at
about $599.6 billion — down from April high of $1.2 trillion.
Bitcoin

6.  Blockchain is a specific type of database.
 It stores data in blocks that are then chained together.
 As new data comes in it is entered into a fresh block.
 Once the block is filled with data it is chained onto the previous block,
which makes the data chained together in chronological order.
Blockchain
Blockchain
Block
1
Block
2

7.  In 2018, RBI came out strongly and kind of banned these in India.
 Then in 2020, the Supreme Court of India reversed RBI’s ban of 2018.
 But a few days back, RBI said that the banks cannot quote its 2018 ban to its customers
as it was overruled by the Supreme Court!
 As things stand now, Bitcoin and other cryptocurrencies are not illegal in India but are
unregulated.

8. 1. Reduce the risk of fraud. 2. Increase crowdfunding
3. Change the money transfer process 4. Make e-commerce stronger
5. Encourage scientific advancements 6. Keep companies and individuals
accountable
How Cryptocurrency Change the World ?

9. Criticism of Cryptocurrency
1. Can Be Used for illegal Transactions
2. Data Losses can cause Financial Losses
3. Adverse Effect on Mining on the Environment
4. Susceptible to hacks
5. Some coins not available in other fiat currencies
6. No refund or cancellation policy

10. Companies Accepting Cryptocurrency

11. Thank You !!!