Mangaluru: Rachana, Catholic Chamber of Commerce and Industry held a talk on Crypto Currency at Chefs Nanthoor here on December 7.
The programme began with an invocation. President of Rachana Vincent Cutinha welcomed the gathering. Treasurer Eulalia D’Souza introduced the speaker Chartered Accountant Anwesh Shetty to the gathering.
Addressing the gathering, Anwesh Shetty said, “CryptoCurrency is a digital or virtual currency which is used as an online ledger with strong cryptography to secure online transactions. CryptoCurrency has a digital representation of value, which is available only in electronic form. It is stored and transacted through designated software, mobile, or computer applications. Transactions involving virtual currencies occur through secure, dedicated networks or over the Internet”.
Anwesh further said, “The Cryptocurrency is not in physical form like paper money, it is not issued by a central authority. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. A cryptocurrency is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. Cryptocurrencies use encryption to authenticate and protect transactions, hence their name. There are currently over a thousand different cryptocurrencies in the world, and many see them as the key to a fairer future economy”.
The interactive session was moderated by the vice president of Rachana CA Rudolph C Rodrigues. Joint Secretary Philip Jerome Pereira delivered the vote of thanks. Leslie Rego compered.
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