Inauguration
Finitiative club for the year 2015-16 was declared
inaugurated on 29th July, 2015 by Dr. Paul J Alapat, Senior MD –
Copal Amba, the Chief Guest for the occasion. The President of the club, Mr.
Avinash Reddy presented the Agenda for the year and welcomed the audience in
high spirits.
Dr. Alapat talked about the emergence of new trends in the
capital market, career opportunities available for finance students and the job
prospects for them in Bangalore. He
spoke about the need to understand finance not only in quantitative but also in
qualitative terms.
After the inaugural function, a surprise event was conducted
marking the beginning of Finitiative club activities. Mr. Ashish Ganguly
steered the event with his usual upbeat charm and quizzed the participants on
their financial acumen. The event was concluded with prize distribution to the
participants.
Nothing that is can pause or stay;
The moon will wax, the moon will wane,
The mist and cloud will turn to rain,
The rain to mist and cloud again,
Tomorrow be today.
These were the famous words of Henry Wadsworth Longfellow which emphasize that change is one element that will always be constant. This is precisely what Bitcoin is doing to the currency exchange that takes place all over the globe for any minute transaction.
We were lucky enough to gain insights about the same from Mr. Sarath Nair, who is associated with UNOCOIN. This company has acted as a catalyst to bring about a change in the face of Bitcoin in India.
Simply put, Bitcoin is a digital currency that functions through the internet and uses peer to peer technology to operate with no central authority governing the protocol. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services.The issuing of bitcoins is carried out collectively by the network. It is open-source and free for everyone to be part of. Through its many unique properties, Bitcoin allows exciting uses that is not covered by any existing payment system. Bitcoin as a form of payment for products and services is growing and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors.
These insights about bitcoins coupled with series of question & answers led us all to believe that the key elements which make bitcoins unique is their durability, divisibility, fungibility, verifiability and valuableness.
Therefore it won’t be wrong to say that the motto of UNOCOIN ‘Simple, Secure & Seamless’ is aiding them to change the way of doing business. It was indeed a very informative session & we are sure that this was just one of the many more to come.
***
Guest Lecture Series 1
Nothing that is can pause or stay;
The moon will wax, the moon will wane,
The mist and cloud will turn to rain,
The rain to mist and cloud again,
Tomorrow be today.
These were the famous words of Henry Wadsworth Longfellow which emphasize that change is one element that will always be constant. This is precisely what Bitcoin is doing to the currency exchange that takes place all over the globe for any minute transaction.
We were lucky enough to gain insights about the same from Mr. Sarath Nair, who is associated with UNOCOIN. This company has acted as a catalyst to bring about a change in the face of Bitcoin in India.
Simply put, Bitcoin is a digital currency that functions through the internet and uses peer to peer technology to operate with no central authority governing the protocol. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services.The issuing of bitcoins is carried out collectively by the network. It is open-source and free for everyone to be part of. Through its many unique properties, Bitcoin allows exciting uses that is not covered by any existing payment system. Bitcoin as a form of payment for products and services is growing and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors.
These insights about bitcoins coupled with series of question & answers led us all to believe that the key elements which make bitcoins unique is their durability, divisibility, fungibility, verifiability and valuableness.
Therefore it won’t be wrong to say that the motto of UNOCOIN ‘Simple, Secure & Seamless’ is aiding them to change the way of doing business. It was indeed a very informative session & we are sure that this was just one of the many more to come.
***
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