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Safety of CBDC from vulnerability and cyber attacks | CBDC explained | VARINDIA News Hour
Safety of CBDC from vulnerability and cyber attacks | VARINDIA explained | VARINDIA News Hour
#CBDC is a digital form of central bank money that can be accessible to the general public; essentially, it consists of individuals and firms having access to transaction and savings accounts with their home country’s central bank. The Government of India has proposed to issue CBDC, ‘Digital Rupee’ during the FY2022-23 which would be a digital avatar of India’s Fiat Currency, controlled and monitored by the Reserve Bank of India (RBI). CBDC will be a legal tender, being a revamped version of the physical currency, which will eventually reduce cost of currency management. CBDC could help policy-makers achieve goals around payment efficiency, financial inclusion, banking and payment competitiveness, access to safe central bank money in the era of digital payments, and more. People can convert digital currency to physical currency and vice-versa with ease. As per RBI, the digital rupee blockchain being developed by the RBI would be able to trace all transactions, unlike the current system of mobile wallets offered by private companies. The units issued in the digital rupee would be included in the currency in circulation, it added. The RBI's digital currency is likely to debut by early 2023. Currently, the bitcoin blockchain supports up to seven transactions per second and then there are some others that let a few thousand transactions per second. However, security aspects involved in constructing and deploying a central bank digital currency (CBDC).
It is a matter of great concern on the Security part, which is an essential element in the CBDC system. In addition to securing the underlying storage and transfer of value, security involves
aspects of privacy and resilience. Threats must be mitigated to protect the integrity of funds and the confidentiality of users. A secure CBDC system will retain public trust in the central bank. Under an acদ্বারা VARINDIA| 30 দর্শনসমূহ
Indian enterprises prioritise security more than their global counterparts
As much as 55% of India’s enterprises cited security and compliance as the prevailing reasons for shifting applications to a different infrastructure in the past year. This is 14% points higher than the global average (41%), Nutanix’s fourth annual Enterprise Cloud Index report said. This shows that Indian companies prioritise security more than their global counterparts, Nutanix said. At the same time, Nutanix said enterprises are still maturing in their understanding of multi-cloud security management, or the management of security across dissimilar clouds. These companies are learning to reach for hybrid multi-cloud tools that enable centralised management to alleviate such issues. The report also showed that 84% of enterprises in India prefer hybrid multi-cloud as their ideal operating model, and that 58% are expecting to implement such environments within three years.
India’s digital transformation has been primarily fuelled by hybrid multi-cloud adoption as it offers simplicity, agility, manageability and scalability that most organisations seek to compete in today's digital world. The report further says, the growing acceptance of the public cloud as an extension to private infrastructure and as a critical platform for supporting the shift to remote work is fuelling this trend. Nearly one in five respondents from India (19%) said they already use three or more public cloud providers, outpacing the global (13%) and APAC regional averages (12%).
Today's Headline in NewsHours
0:00 Intro
1:51 #DoT collects Rs 69,179 crore from telecom companies
2:36 #Sterlite Tech wins multi-year order from Power Grid
3:11 #Intel wins appeal against $1.2 Billion EU antitrust fine
3:53 Hackers demand ransom by hacking Instagram accounts of companies and influencers
4:31 Flint raises $5.1 million seed capital
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NTPC Empowering through Self Employment Opportunities (Updated Version, 11.10.2019)
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ECI Press Briefing
Press briefing of Election Commission of India on completion of 2nd Phase of #LokSabhaElection2019 and State Legislative Assemblies elections.
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Tiger 3 Movie Gets 7 Am First Show On November 12
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ಹಬ್ಬಕ್ಕೆ ಚಂದವಾದ ತೋರಣ || Thorana designs || How to make Thorana decorations || Kannada sanjeevani
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