Cloud computing is an architecture engineered for providing computing services via the Internet. The key features of a cloud computing service are the presence of an on demand and pay per use usage facility to a pool of shared resources, namely networks, storage, servers, services and applications. It’s a completely Internet dependent technology where client data is stored and maintained in the data center of a cloud service provider like Google, Amazon, Salesforce.com and Microsoft etc. Nowadays, several industries like banking, healthcare and education are switching to cloud computing, as it has minimal infrastructural requirement and is highly efficient and mobile in its functioning.Continue reading “What is Cloud Computing? Architecture and Data Security”
On March 29, (2017) Arizona Governor Doug Ducey signed the bill HB 2417 into law1. As covered earlier by IndiaTechLaw on Smart Contracts, this bill seeks to amend the current law and bring legal validity to blockchain signatures.Continue reading “Breaking: Smart Contracts (blockchain) legalised in Arizona”
The Japanese have brought into force a new legislation treating digital currency as a legal payment method, from the beginning (1 April 2017) of this fiscal year. Bitcoins are now legal tender in Japan and are at par with other fiat currencies. This has been made possible by the passing of a new law called the Virtual Currency Act by the Diet. The Financial Services Agency announced that it is going to treat cryptocurrencies as legal tender from April 1st, 2017.Continue reading “Breaking: Bitcoins legalised in Japan – legal framework and tax treatment”
Bitcoins are numbers you can trade with. People would be ready to exchange goods and services with bitcoins as they value the bitcoin numbers. Compared to currency which is made out of thin air by a central bank, bitcoins and other digital tokens, require massive computational power to generate, and have a base in global energy prices.
This idea of using a set of protocol to transact and create new bitcoins securely was published by an Anonymous author using the pseudonym of Satoshi Nakamoto. The paper was titled: Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi NakamotoContinue reading “Value of bitcoins; RBI on bitcoin; legality of bitcoin transactions in India”