Gujranwala Guru Nanak Institute of Management and Technology (GGNIMT), Civil Lines, organized a webinar on Cryptocurrency- Its future and Impact on Global Economy.

Over 300 participants, including students, professionals, academicians and technocrats across the globe joined in the session to gain insight about the most interesting topic among the inverters these days.

Dr. Harpreet Singh Principal , GGNIMT accorded a warm welcome to the gathering and said cryptocurrency has evolved as a game changer in the digital world. The most popular digital currency – bitcoin has been on a downward spiral over the past few months because of regulatory hurdles and Elon Musk’s comments on the digital currency, he said. The major reason for this trend is that the cryptocurrency market is not yet regulated. At present, the lack of regulations and the uncertainty regarding the same are among the major factors restraining the adoption of cryptocurrencies.

Dr. Rajesh kumar kaushal Associate Prof Chitkara University Punjab India explained in length about the core technology used in majority of cryptocurrencies— ie block chain. He very precisely touched upon many new concepts like Block mining, data mining, consensus protocol and immutable ledger. He clarified about smart contracts and its features.

Mitthan Meena CEO STEALTH STARTUP California US talked about the future of cryptocurrency, its banking issues, payment system and its impact on the global economy in the years to come. He explained the difference between proof of work and proof of stake. He explained to the participants about the key challenges in crypto and number of transactions happening around the world. He clarified about money, comparing crypto, gold and Fait currency.

 Mandeep Singh Director RythmOne Toronto Canada discussed bitcoin and various investment perspectives. He talked about Bitcoins as the safest and diverse way to invest money. He also discussed how bitcoin is changing the world around and changing the lives of many people.

He touched upon the History of Bitcoin, as it was created to handle trust issues with centralized bankers.

Prof. Satinderjit Singh, Head, Department of Computer Applications, GGNIMT while giving his valedictory remarks said that although there are many issues related to cryptocurrency still he is of this belief that very soon there will be rise in interest in the crypto universe among the common people. He also appreciated the resource person for delivering valuable insights into the topic. 

Prof Manjit Singh Chhabra, Director, GGNIMT, proposed the vote of thanks. He talked about the hardware graphics processor purchase is in rise because of allegedly crypto mining. He further said that with the spread of COVID-19 pandemic where a number of businesses were shut down and many people lost their jobs, cryptocurrencies like Bitcoin, Ethereum gained significant attention.

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