trade now
BlockchainCryptocurrencyIndiaNews

India’s National Securities Depository Rolls Out A Blockchain-based Security And Monitoring Platform

The NSDL (National Securities Depository), the Mumbai-based central securities depository of India, released a platform for Security and Covenant Monitoring. On Saturday, NSDL formally released the DLT (distributed ledger technology) venue during the presentation on its 25th anniversary, in parallel to SEBI (the Securities and Exchange Board of India). The platform will expectedly fortify the governance and security monitoring in the market of corporate bonds to incorporate additional transparency and discipline into the market.

Madhabi Puri Buch (the chairperson of SEBI) pointed toward the transparency of blockchain to be the chief reason for the fame of the technology however also referred to the present cost-effectiveness thereof, commenting that the anonymity aspect is still highly appreciated by the authorities in India. She added that this counts to be the sole largest differentiating factor between the private manifestations of DLT as well as the Central Bank Digital Currencies (CBDCs) that do not have this element and the country’s authorities also not in favor of having anonymity.

📰  Cryptocurrency Miners In Russia Consume Two Percent Of Total Electricity Says Government

Two nodes, whom the CDSL (Central Depository Services Ltd.) – a division of SEBA – and the NSDL will control, will be specified for the monitoring of the network. As stated by Buch, other organizations will have an opportunity to get linked to the network along with developing the nodes thereof in the coming time. The most longstanding depository in India, NSDL, performs the administration of up to 89% of the securities market spread across the country. In the coming days, the rest of the bodies will be welcomed by the Indian Securities Board division and the NDSL to be a part of the decentralized network.

At this moment, all the data of the organization – which was formerly kept in some centralized databases – will be stored cryptographically, along with being time-stamped as well as incorporated by the agency into its ledger. The Ministry of Electronics and Information Technology in India, on 28th April, released an order to direct the data centers, VPN (virtual private network) providers, as well as crypto exchanges to store a broad array of consumer data for almost five years.

📰  Binance's CEO Weighs in on The Popular Bitcoin Bottom Discussion

Simultaneous to this, the trading volume of the prominent crypto exchanges in India has plummeted to a great extent by approximately 70% after the announcement of the unique rule for the taxation of crypto requiring 30% of the crypto gains.


Tokenhell.com produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: info@tokenhell.com. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  Virtual Payout Review - Is Virtual Payout Scam or Legit?

📰  Cryptos Seed Review – Is Cryptos Seed Scam or Legit?

Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close