Help Me With Implement eSignature in Box

The implement box in airSlate SignNow is designed to streamline the document signing process. It allows users to easily organize and manage documents that require signatures, ensuring a smooth workflow for all parties involved.

You can seamlessly integrate the implement box with various applications through API connections and workflow automation tools. This flexibility ensures that you can enhance productivity by connecting it with your existing tools and systems.

Yes, airSlate SignNow offers a trial period for users to explore the functionalities of the implement box. This allows prospective customers to evaluate how effectively the solution integrates with their document management processes before committing to a subscription.

airSlate SignNow offers several pricing plans to accommodate different business needs, all of which include access to the implement box. These plans range from basic to advanced options, allowing you to choose one that fits your budget and feature requirements.

The implement box features intuitive document management, automated workflows, and customizable templates. These functionalities help businesses expedite the signing process while maintaining compliance and security for all electronic documents.

The implement box can signNowly enhance your business operations by reducing the time and effort required for document signing. By simplifying the process, it allows your team to focus on core activities rather than administrative tasks associated with paperwork.

Yes, the implement box is accessible via mobile devices, enabling users to manage and sign documents on the go. This feature ensures that you can stay productive regardless of your location, making it easier to secure signatures promptly.

In the U.S., ticking a checkbox routinely is considered evidence showing that a user has accepted online terms and conditions. (Please see Online Terms can be Binding, even if You don’t have to Click!)This is, indeed, similar to a signature on a hard-copy contract being evidence showing that a party has agreed to that contract.

Have you ever felt that something(like taking backup of files, deleting old files etc.) should automatically happen when you connect your pen-drive to your system?Let us take an example, Suppose your teacher wants you to copy your assignments into his pendrive in front of him. The pen drive contains your final examination paper. You want your ubuntu system to automatically copy all the data from that pen drive to your hard disk automatically in the background (without even opening a copy dialogue). Here is how to do it on ubuntu:1] First let us write a simple shell script which we want to execute whenever a pen drive is connected to our system. Let us write a simple script which copies all data from the connected device to your home directory.First open a new fileemacs $HOME/script.shand add following lines to that file.#!/bin/bash sudo mkdir -p /tmp/test sudo mkdir -p $HOME/device_data sudo mount /dev/sdb1 /tmp/test sudo cp -r /tmp/test/* $HOME/device_data/ sudo umount /tmp/test Save and close the file.This script essentially creates a new directory named "device_data" inside your home folder and copies all the data from the pen drive into device_data directory.(Note: You can write ANYHTING into this script, so use it wisely :P)Now let us make this script executable.sudo chmod +x $HOME/script.sh As this script needs sudo permissions, we need to make it sudo runnable. To do this add the name of the script into sudoers file.Open sudoers file.sudo visudo -f /etc/sudoers Now after the 25th line (%sudo…) add this line ALL=(ALL) NOPASSWD: /home//script.sh So now this script will run with sudo rights but will not ask for password! :)2]Now we need to tell our system to follow OUR rules (i.e execute our script) whenever a pendrive is connected. For this we need to create our own "udev rules" file. This file should be created in '/etc/udev/rules.d' directory.cd /etc/udev/rules.d Open a new file (with sudo rights):sudo emacs 91-myrules.rules Make sure the file name starts with "91". This gives your rules priority over other rules.Now add these lines into that fileACTION=="add", ATTRS{idVendor}=="****", ATTRS{idProduct}=="****", RUN+="/paht/to/your/script.sh" Make sure you enter proper path into RUN variable.Done!!Now plug any pendrive into your system and test this!Note: 1] When you connect your external drive this script will be run and your system won’t be able to use it unless this script execution is complete! So have some patience! :p 2] This answer is written for educational purposes only! Do not misuse it.Thanks Mehak Sharma for promoting the answer!

There’s quite a lot out there, depending on what you’re looking for :)Some free online tools (in no particular order):Dropbox. Save and share everything.Evernote. Best note app ever.FreePik. Find thousands of free images.SurveyMonkey. Create surveys to gauge customer feedback.Rapportive. Useful tool for Gmail that allows you to see other people’s social media profiles.Trello. Project management made simple.Slack. Work communication simplified.AdCat. Allows you to use a single picture to get perfect-sized, up-to-date ad images for Facebook, Instagram, and Twitter. Free.Easel.ly. Great infographic generator for creating attractive content. Engaging content is vital for attracting audiences.Google Analytics. See who’s coming to your site and from where, among many many other awesome functions.Sidekick. Awesome email tool that tracks when emails are opened — super useful for proper follow-ups.Hotjar. Recordings of users on your website. Amazing to understand user behavior, which drives marketing strategies.Hootsuite. For social media management in one easy to use dashboard.Leadin by Hubspot. For lead management.Ahrefs. Powerful SEO tool.Later. Instagram consistently shows amazing engagement with users. This tool manages scheduling for you.Crowdfire. Great tool to figure out who to follow on social media for optimal engagement.BuzzSumo. Analyze what content performs best.Social Rank. Allows you to see which are your most valuable followers.UberSuggest. Free keyword suggesting tool.LinkMiner. Free tool for the link building strategy.JustsignNowOut. Finds journalists interested in covering you.Keyword.io. Free keyword research tool for SEO.MailChimp. To run automated email campaigns.Optimizely. A/B testing to optimize your website.Google Trends. Shows how often a particular search-term is entered.TweetDeck. Owned by Twitter, it makes discovering content easily digestible and allows you to find the topics and people you want.Title Maker. Content idea generator.Explore. Get to know what’s trending.Engage Master. Convert visitors to customers.Startup Bootstrap. Website building templates.Submit.co. Get press for your startup.SumoMe. Tool set to grow your website traffic.Quip. View documents on any device.Atomic Squirrel. Startup checklist.There’s tons more out there depending on what you are looking for specifically. I’m happy to update and reorganize if you need more :)Disclosure: I’m working on AdCat.

Seeing this message ? Don’t despair, you are among more than 200,000 computers in 150 countries which have been affected.(Know more at: WannaCry ransomware: Everything you need to know, Why the WannaCry cyber attack is so bad, and so avoidable - Video)Although, it was initially reported that the impact on India will be HUGE. It is now being reported that the impact will be MINIMAL/ Sporadic.(Ref: WannaCry ransomware cyberattack fails to paralyse India; some businesses hit - Times of India)But, the caveat is that the impact may go under reported. Experts say that the rampant use of pirated software in India may leave Indian companies unable to report if they have been affected by the Wanna Cry cyber attack.(Ref: WannaCry ransomwares impact in India may go under-reported due to rampant use of pirate software)So yes, It may do more good than harm. We do hope that this attack will instigate the people and the gov of India to take major steps against internet piracy and to implement advanced computer networks and security measures. But it is up to each and every user and network administrator, to secure their own systems.It is incorrect to say that India was most affected because it is least protected. In fact, the impact was much lesser than expected. The government too tried to dispel rumors about banking telecom or aviation being hit by the outbreak. "There is no major impact in India unlike other countries. We are keeping a close watch. There have been isolated incidents in Kerala and Andhra Pradesh," Union information and technology minister Ravi Shankar Prasad said.Prasad said a Cyber Coordination Centre will start operating from next month to take precautions against such attacks in future. Besides, the cyber security arm of the Centre has asked banks, stock exchanges, and other vital institutions to safeguard their systems against the malware.The IT ministry has also signNowed out to agencies such as the RBI, NPCI and UIDAI, to warn them about the risks associated with WannaCry, and help to secure their systems, in order to make sure that digital payments in India are not affected.The Reserve Bank of India has notified all banks to operate their ATMs only after updating software systems to avoid being infected by ransomware. Automated teller machines are vulnerable to such malware attacks as they currently run on an older version of Microsoft's Windows XP, making the update highly necessary.There are a total of 2.2 lakh ATMs in India, of which many old ones run on Windows XP, for which Microsoft has officially ended support in 2014.IMPORTANT: If your PC has been infected, the following information will be of help:- (Source: Cyber Swachhta Kendra: Wannacry/ WannaCrypt Ransomware)The WannaCry ransom ware is writing itself into a random character folder in the 'ProgramData' folder with the file name of "tasksche.exe" or in 'C:\Windows\' folder with the file-name "mssecsvc.exe" and "tasksche.exe".Ransomware is granting full access to all files by using the command:Icacls . /grant Everyone:F /T /C /QUsing a batch script for operations:176641494574290.bathashes for WANNACRY ransomware:5bef35496fcbdbe841c82f4d1ab8b7c2775a0631fb8229b2aa3d7621427085ad7bf2b57f2a205768755c07f238fb32cc7f7ccaa16fb15eb1c7399d422f8363e88495400f199ac77853c53b5a3f278f3e84c82835a5d21bbcf75a61706d8ab54986721e64ffbd69aa6944b9672bcabb6d8dd63adb68ef053e044a5a2f46e0d2cdb0ad5902366f860f85b892867e5b1e87d6114ba5f10ad67a4131ab72531f02dadb349b97c37d22f5ea1d1841e3c89eb4e372d07207b4da75b3434584cd9f3450f529f4556a5126bba499c26d67892240Use endpoint protection/antivirus solutions to detect these files and remove the sameUsers and administrators are advised to take the following preventive measures to protect their computer networks from ransomware infection/ attacks:In order to prevent infection users and organizations are advised to apply patches to Windows systems as mentioned in Microsoft Security Bulletin MS17-010Microsoft Patch for Unsupported Versions such as Windows XP,Vista,Server 2003, Server 2008 etc. http://www.catalog.update.micros...To prevent data loss Users & Organisations are advised to take backup of Critical DataBlock SMB ports on Enterprise Edge/perimeter network devices [UDP 137, 138 and TCP 139, 445] or Disable SMBv1. https://support.microsoft.com/en...Apply following signatures/rules at IDS/IPSalert tcp $HOME_NET 445 -> any any (msg:"ET EXPLOIT Possible ETERNALBLUE MS17-010 Echo Response"; flow:from_server,established; content:"|00 00 00 31 ff|SMB|2b 00 00 00 00 98 07 c0|"; depth:16; fast_pattern; content:"|4a 6c 4a 6d 49 68 43 6c 42 73 72 00|"; distance:0; flowbits:isset,ETPRO.ETERNALBLUE; classtype:trojan-activity; sid:2024218; rev:2;)(http://docs.emergingthreats.net/bin/view/Main/2024218)alert smb any any -> $HOME_NET any (msg:"ET EXPLOIT Possible ETERNALBLUE MS17-010 Echo Request (set)"; flow:to_server,established; content:"|00 00 00 31 ff|SMB|2b 00 00 00 00 18 07 c0|"; depth:16; fast_pattern; content:"|4a 6c 4a 6d 49 68 43 6c 42 73 72 00|"; distance:0; flowbits:set,ETPRO.ETERNALBLUE; flowbits:noalert; classtype:trojan-activity; sid:2024220; rev:1;)alert smb $HOME_NET any -> any any (msg:"ET EXPLOIT Possible ETERNALBLUE MS17-010 Echo Response"; flow:from_server,established; content:"|00 00 00 31 ff|SMB|2b 00 00 00 00 98 07 c0|"; depth:16; fast_pattern; content:"|4a 6c 4a 6d 49 68 43 6c 42 73 72 00|"; distance:0; flowbits:isset,ETPRO.ETERNALBLUE; classtype:trojan-activity; sid:2024218; rev:1;)Yara:rule wannacry_1 : ransom{meta:author = "Joshua Cannell"description = "WannaCry Ransomware strings"weight = 100date = "2017-05-12"Strings:$s1 = "Ooops, your files have been encrypted!" wide ascii nocase$s2 = "Wanna Decryptor" wide ascii nocase$s3 = ".wcry" wide ascii nocase$s4 = "WANNACRY" wide ascii nocase$s5 = "WANACRY!" wide ascii nocase$s7 = "icacls . /grant Everyone:F /T /C /Q" wide ascii nocaseCondition:any of them}rule wannacry_2{meta:author = "Harold Ogden"description = "WannaCry Ransomware Strings"date = "2017-05-12"weight = 100strings:$string1 = "msg/m_bulgarian.wnry"$string2 = "msg/m_chinese (simplified).wnry"$string3 = "msg/m_chinese (traditional).wnry"$string4 = "msg/m_croatian.wnry"$string5 = "msg/m_czech.wnry"$string6 = "msg/m_danish.wnry"$string7 = "msg/m_dutch.wnry"$string8 = "msg/m_english.wnry"$string9 = "msg/m_filipino.wnry"$string10 = "msg/m_finnish.wnry"$string11 = "msg/m_french.wnry"$string12 = "msg/m_german.wnry"$string13 = "msg/m_greek.wnry"$string14 = "msg/m_indonesian.wnry"$string15 = "msg/m_italian.wnry"$string16 = "msg/m_japanese.wnry"$string17 = "msg/m_korean.wnry"$string18 = "msg/m_latvian.wnry"$string19 = "msg/m_norwegian.wnry"$string20 = "msg/m_polish.wnry"$string21 = "msg/m_portuguese.wnry"$string22 = "msg/m_romanian.wnry"$string23 = "msg/m_russian.wnry"$string24 = "msg/m_slovak.wnry"$string25 = "msg/m_spanish.wnry"$string26 = "msg/m_swedish.wnry"$string27 = "msg/m_turkish.wnry"$string28 = "msg/m_vietnamese.wnry"condition:any of ($string*)}Best practices to prevent ransomware attacks:Perform regular backups of all critical information to limit the impact of data or system loss and to help expedite the recovery process. Ideally, this data should be kept on a separate device, and backups should be stored offline.Establish a Sender Policy Framework (SPF),Domain Message Authentication Reporting and Conformance (DMARC), and DomainKeys Identified Mail (DKIM) for your domain, which is an email validation system designed to prevent spam by detecting email spoofing by which most of the ransomware samples successfully signNowes the corporate email boxes.Don't open attachments in unsolicited e-mails, even if they come from people in your contact list, and never click on a URL contained in an unsolicited e-mail, even if the link seems benign. In cases of genuine URLs close out the e-mail and go to the organization's website directly through browserRestrict execution of powershell /WSCRIPT in enterprise environment Ensure installation and use of the latest version (currently v5.0) of PowerShell, with enhanced logging enabled. script block logging, and transcription enabled. Send the associated logs to a centralized log repository for monitoring and analysis.Application whitelisting/Strict implementation of Software Restriction Policies (SRP) to block binaries running from %APPDATA%, %PROGRAMDATA% and %TEMP% paths. Ransomware sample drops and executes generally from these locations. Enforce application whitelisting on all endpoint workstations.Deploy web and email filters on the network. Configure these devices to scan for known bad domains, sources, and addresses; block these before receiving and downloading messages. Scan all emails, attachments, and downloads both on the host and at the mail gateway with a reputable antivirus solution.Disable macros in Microsoft Office products. Some Office products allow for the disabling of macros that originate from outside of an organization and can provide a hybrid approach when the organization depends on the legitimate use of macros. For Windows, specific settings can block macros originating from the Internet from running.Configure access controls including file, directory, and network share permissions with least privilege in mind. If a user only needs to read specific files, they should not have write access to those files, directories, or shares.Maintain updated Antivirus software on all systemsConsider installing Enhanced Mitigation Experience Toolkit, or similar host-level anti-exploitation tools.Block the attachments of file types, exe|pif|tmp|url|vb|vbe|scr|reg|cer|pst|cmd|com|bat|dll|dat|hlp|hta|js|wsfRegularly check the contents of backup files of databases for any unauthorized encrypted contents of data records or external elements, (backdoors /malicious scripts.)Keep the operating system third party applications (MS office, browsers, browser Plugins) up-to-date with the latest patches.Follow safe practices when browsing the web. Ensure the web browsers are secured enough with appropriate content controls.Network segmentation and segregation into security zones - help protect sensitive information and critical services. Separate administrative network from business processes with physical controls and Virtual Local Area Networks.Disable remote Desktop Connections, employ least-privileged accounts.Ensure integrity of the codes /scripts being used in database, authentication and sensitive systems, Check regularly for the integrity of the information stored in the databases.Restrict users' abilities (permissions) to install and run unwanted software applications.Enable personal firewalls on workstations.Implement strict External Device (USB drive) usage policy.Employ data-at-rest and data-in-transit encryption.Carry out vulnerability Assessment and Penetration Testing (VAPT) and information security audit of critical networks/systems, especially database servers from CERT-IN empaneled auditors. Repeat audits at regular intervals.Individuals or organizations are not encouraged to pay the ransom, as this does not guarantee files will be released. Report such instances of fraud to CERT-In and Law Enforcement agenciesGeneric Prevention Tools:Tool (NoMoreCry) to prevent Wannacry Ransomware by CCN-CERT:https://loreto.ccn-cert.cni.es/i...Sophos: http://Hitman.Prohttps://www.hitmanpro.com/en-us/...Bitdefender Anti-Crypto Vaccine and Anti-Ransomware (discontinued) https://labs.bitdefender.com/2016/03/combination-crypto-ransomware-vaccine-released/Malwarebytes Anti-Ransomware(formally Crypto Monitor)https://blog.malwarebytes.com/malwarebytes-news/2016/01/introducing-the-malwarebytes-anti-ransomware-beta/Trendmicro Ransomware Screen Unlocker tool:https://esupport.trendmicro.com/...Microsoft Enhanced mitigation and experience toolkit(EMET)https://www.microsoft.com/en-us/...Referenceshttps://technet.microsoft.com/li...http://www.catalog.update.micros...https://blogs.technet.microsoft....https://www.symantec.com/connect...https://securelist.com/blog/inci...https://securingtomorrow.mcafee....https://www.us-cert.gov/ncas/cur...http://blog.talosintelligence.co...https://www.trendmicro.com/vinfo...https://www.us-cert.gov/ncas/ale...http://blogs.quickheal.com/ms17-...http://blogs.quickheal.com/wanna...Wannacry/WannaCrypt Ransomware Presentation of CERT-In(PS: Thanks for reading/ upvotes. I write more here:- Jay Maan)

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TechnologyBiometrics Based AuthenticationBio-Molecular ComputingBionic eye possible path toward artificial retinaUltrasonic Based Distance Measurement SystemWireless Advanced Flight Systems Aircraft Monitoring SystemBlade ServersBlue GeneBlue sat Communications ProtocolBlue-sat Radio Switching CircuitBluetooth Based Smart Sensor NetworksBrain computer interfaceBiomass gasifier for thermal and electrical applicationsBittorrent a revolution in p2p technologyBlue brainBlue eyes technologyBrain controlled car for disabled using artificial intelligenceBrain gateBrain port deviceBrain Finger Print TechnologyBrian Gate TechnologyBroadband via satellite to Rural AreasCapability Maturity Model Programming (CMM)Capacity of Ad-hoc Wireless NetworksVehicle Speed Sensing and Smoke Detecting SystemIntelligent Fire Sprinkler SystemCapturing packets in secured networksCarbon nano tube electronicsCDMA Wireless Data TransmitterCellular CommunicationsCellular Digital Packet DataCellular Neural 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setsComputational Geometry in Drug DesignComputational Intelligence and LinguisticsComputational neuroscienceComputational PhotographyComputer ForensicsComputer Viruses(Malwares, Trojons, Spywares)Computerized Paper Evaluation using Neural NetworkConcurrent Programming and Parallel distributed O.S.Condition Monitoring of Power System EquipmentConditional Access SystemContent Management Systems(WordPress, Joomla, Drupal etc)Continuously variable transmission (CVT)Control & Signal Processing Techniques in Financial EngineeringControl and Optimization Methods in Communication NetworksControl of a 3-d overhead craneControl of heterogeneous networksControl System Wireless InterfaceControlled multimedia recording environment for lectures and 3D.Controller design for a helicopter modelCooperative Adaptive Cruise ControlCross Platform Component Object ModelCrusoe ProcessorCryogenic ProcessorCryptography and N/W securityCryptovirologyCSS and DeCSSCT scanningCyber terrorismDeploying a wireless sensor network on an active volcanoDigital jewelryData Mining for Condition Monitoring of Power System EquipmentData mining through Active LearningDynamic Car Parking Negotiation and Guidance Using An Agent-Based PlatformGSM Real Time Street Light Control SystemsData over Cable System (DOCSIS)Data Pre ProcessingData Security in Local Network using Distributed FirewallsData ware hosuing & miningDatagram Congestion Control Protocol (DCCP)Dataset Query algorithms in Streaming MiningDelay-Tolerant NetworksDense wavelength division multiplexingDesign and development of a programmable alarm systemDesign of a wireless sensor board for measuring air pollutionDesign of Amplifier for recording of Nerve SignalsDesign of an all Electric Steering WheelDesign of diamond-based Photonics devicesDesign of IC Amplifiers for touch SensorsDesign of Low Density Parity Check CodesDetermination of efficiency of the Permanent Magnet MotorsDeveloping a own server systemDevelopment and Control of Humanoid robotDevelopment of a Broadband Tunable Fiber LaserDevelopment of a New Sensor for Detecting Partial Discharge Induced PressureDevelopment of a wind-turbine simulatorDevelopment of new sensors for online monitoring of partial dischargesDigit recognition using neural networkDigital Audio BroadcastingDigital Audio Effects Control by AccelerometryDigital Camera Calibration and Inversion for Stereo iCinemaDigital Neurons for Digital BrainsDigital Signal Processing and their applicationsDigital silhouettesDigital theatre systemDirect to home television (DTH)Direct Torque and Flux Control of IPMSMDistance learning systemsDomain name servers [DNS]Driving Optical Network EvolutionDual Energy X-ray AbsorptiometryDynamic Cache Management TechniqueDynamic Memory Allocation(malloc, calloc, NEW etc)Dynamic resource allocation in Grid ComputingDynamic source routing protocolDynamic Virtual Private NetworkEarth Simulator- Fastest SupercomputerEffects of large scale integration of PV systems on the distribution networkEfficiency / Comparative study of routing schemes in event based systemsElectromagnetic Applications for Mobile and Satellite CommunicationsElectromagnetic launching systemElectromagnetic processor fabricationElectronic nose & its applicationElliptical Curve Cryptography(ECC)Embedded Configurable Operating systemEmbedded system in automobilesEmbedded systems and VLSI an architectural approach to reduce leakage energy in memoryEmbedded web server for remote accessEmbryonics approach towards integrated circuitsEmergency Health Care SystemEmerging trends in robotics using neural networksE-MINE: A novel web mining approachEncrypted Hard disksEncrypted Text chat Using BluetoothEncryption Decryption MethodsEnergy-efficiency and Layer Integration in Wireless NetworksEnterprise SecurityEqualization of room acoustics for audio reproductionEthernet Passive Optical NetworkE-Toll tax fixingEvolution Of Embedded SystemeXtensible Bindings Language (XBL )Electronic waste (e-waste)Embedded web server for industrial automationEyegaze systemFuel saver systemGoogle autonomous carFeatures of Qualcomm Snapdragon processorGuarding distribution automation system against cyber attacksFace detection technologyFacility Layout Design using Genetic AlgorithmFalls detection using accelerometry and barometric pressureFast Convergence Algorithms for Active Noise Controlling VehiclesFault Tolerance in Virtual Machine EnvironmentsFault tolerant Routing in Mobile Ad-Hoc NetworkFerroelectric RAMFine Grained DataBase SecurityFine-grained Access Control in DatabasesFingerprint recognition system by neural networksFinite Element Interface (FEI)Flexible CRT DisplaysFluorescent Multilayer Disc (FMD)Fluorescent Multilayer Optical Data StorageForecasting Wind PowerFractal image compressionFractal robotsFree Space Laser Communicationsfully digital class-D amplifiersFully Integrated Amp-Meter for Electrical SimulatorsFunctional Magnetic Resonance ImagingFuture of the internetFuture Programming Techniques and ConceptsFuzzified Computer-Automated Crane Control SystemFuzzy Logic Control for complex systemsGaming interfaces applied to videoconferencingGeneral Packet Radio Service (GPRS)Generic visual perception processorGeographic information systemGeometric Invariants in Biological MoleculesGIS tools for web applicationsGlobal positioning response systemGSM Digital Security Systems for PrinterVoice Operated Intelligent Fire Extinguisher VehicleGlobal Positioning SystemGlobal System for Mobile Communication (GSM)Google Android- Mobile OS from GoogleGrasshopper Operating SystemGroupware TechnologyGSM Security And EncryptionHandfree driving [auto]Hardware EDAC for Harsh EnvironmentsHardware implementation of background image modelingHAVI: Home Audio Video InteroperabilityHawk Eye – A Technology in sportsHigh Altitude Aeronautical PlatformsHigh Performance ClustersHigh Performance ComputingHigh Performance DSP ArchitecturesHigh Speed Circuits for optical InterconnectHigh Speed Data in Mobile NetworksHigh speed LANs or InternetHolographic Data StorageHolographic MemoryHolographic Versatile DiscHolt-Winters technique for Financial ForecastingHomeRF and Bluetooth: A wireless data communications revolutionHot Spot TechnologyHyper thread imaxHyper thread technologyHyper Transport TechnologyHow does a search engine work ??How does google search engine work ??How to create a website using wordpressHuman computer interaction & its futureDesign of a color Sensing System for Textile IndustriesGSM based Path Planning for Blind Person Using UltrasonicImage retrieval using compact binary signaturesVehicle Monitoring and Security SystemImbricate cryptographyImplementation of hamming codeIntroduction to microcontrollersIntroduction to AirfoilIntrusion detection and avoidance systemIC Amplifier Design for Touch SensorsImage transmission over WiMax SystemsImage WatermarkingImplantable on-chip Power SuppliesImproving TCP performance over mobile ad hoc networksIndustrial Applications using Neural NetworksInformation Extraction from structured & Semi-structured dataInformation Extraction modes & techniquesInfrared Remote ControlInnovative Application Development using J2EE ArchitectureIntegrated Circuit Design for Biomedical ApplicationsIntegrated Optical Chip DesignIntegrated Voice and Data transfer & handlingIntegrating Structural Design and Formal Methods in Real Time System DesignIntegrating Wind Power into the Electricity gridIntegration of Parallel Database in a Service Oriented ArchitectureIntegration of wind and solar energy in smart mini gridIntel centrino mobile technologyIntelligent calling bellIntelligent navigation systemIntelligent Patient Monitoring SystemIntelligent RAM : IRAMIntelligent Software AgentsInteractive Voice Response SystemInternet Access via Cable TV NetworkInternet architecture and routingInternet Protocol duplicate address detection and adaptationIntrusion Detection SystemInvestigation into solar thermal/coal driven power stationsInvestigation of the real-time implementation of learning controllersIP spoofingIP re-director featuresiOS 8 featuresIPODSIris ScanningiSCSI: The future of Network StorageISO Loop magnetic couplersJava Cryptography Architecture (JCA)Java Messaging Service (JMS)Enterprise Messaging Service (EMS)Advantages of EMS over JMSJava BeansJIRO Java-based technologyLaser Power SupplyJmeter toolGEMS tool for EMSLess characterization of ferromagnetic material for non-sinusoidal excitationLight emitting polymersLoad balancing and Fault tolerant serversLight Interception Image AnalysisLight TreeLightning Protection Using LFAMLiquid Crystal on Silicon Display (LCOS)Location estimation and trajectory prediction for PCS networksLong baseline motion estimationLotus Notes/DominoLow power filter design for mobile communicationLow Power UART Design for Serial Data CommunicationLow-Power Microelectronics for Biomedical ImplantsLow-Power Oscillator for ImplantsMagnetic Random Access MemoryManaging Data In Multimedia ConferencingMango- new mobile from MicrosoftMicro chip production using extreme uv lithographyMicrosoft NetMeetingMigration from GSM network to GPRSMining the Web: Searching, Integration and DiscoveryMobile Virtual Reality ServiceMobility Modeling and trajectory prediction for next generation PCS networksModeling of current spread through electrode geometries in implantable hearing deviceModeling of wind turbine system for an Interior Permanent magnet generatorMoletronics- an invisible technologyPower generation through Thermoelectric generatorsMulti Protocol Label SwitchingMulti user Scheduling for MIMO broadcastingMultiple clients communicationMultiple Domain OrientationMultisensor Fusion and IntegrationNeuro chipsParasitic computingPassword paradigmsPolymer memory a new way of using plastic as secondary storageProgrammable logic devices (PLD)Navigation of Mobile Wheeled RobotsNerve Signal Measurement Electronics for Biomedical ImplantsNetwork Attached Storage (NAS)Non Volatile Static RAMOptical coherence tomographyOptical to electrical converter for optical interconnectOptimization of Ad Hoc Wireless Sensor NetworksOptimization of Protocol Stack for wireless networksOracle RDBMSOutdoor High Voltage InsulatorsOvonic Unified MemoryPersonal Satellite assistant SystemsPH Control Technique using Fuzzy LogicPhone Busy IndicatorPivot Vector Space Approach in Audio-Video MixingPlastic chips & electronicsPluggable Authentication Modules (PAM)POF Tunable Fiber LaserPOP Plaster Of ParisPower Efficiency and Security in Smart HomesProactive Anomaly DetectionPrototype System Design for TelemedicinePublic Key Encryption and Digital SignatureQoS in Cellular Networks Based on MPTQoS in Networking using active NetworksQOS in software server FirewallsQuad-Core ProcessorsRadio Frequency Identification (RFID)Real time communication in wireless sensor networksReal Time Operating Systems on Embedded ICsReal Time Speech TranslationReal Time Systems with Linux/RTAIReliable and Fault Tolerant Routing on Mobile Ad Hoc NetworkRenovating the Address Resolution Protocol (ARP)Revolutions in the Operating System and ServersRobotic SurgeryRoom Equalization for Audio ReproductionRuby on Rails [RoR]Radio frequency identification technologyRapid prototypingSecured webportal for online shoppingSecuring underwater wireless communication networksSecurity analysis of micropayment systemSecurity aspects in mobile ad hoc network (manets)Security requirements in wireless sensor networksSemantic webSensitive skinSnake robot the future of agile motionSoftware defined radio(sdr)Spwm technique for multilevel inverterStorage area network(SAN)SwitchgrassSystem on chipSALT (Speech Application Language Tags)Sand Box TechnologySecurity of Open-Source SoftwareSecurity On Wireless LAN Adaptive cruise controlSecurity threats in the World Wide WebSensor fusion for video surveillanceSensors on 3D DigitizationSession Initiation Protocol (SIP)Shallow water Acoustic NetworksShort Message Service (SMS)Significance of real-time transport Protocol in VOIPSimulating Quantum CryptographySimulation of low-power converter for electromagnetic vibration driven generatorSingle photon emission computed tomographySmart camera for traffic surveillanceSmart Cameras in Embedded SystemsSmart FabricsSnickometer A toolSocket ProgrammingSoftware advances in wireless communication(Cognitive Radio, Dynamic spectrum Access etc. )Software Testing & Quality AssuranceSpace MouseSpace RoboticsSpectrum Sharing in Cognitive Radio NetworksSpeech Enhancement for Cochlear ImplantsSpeech Enhancement for Mobile ApplicationsSpeech transmission over WiMax systemsSpeed Detection of moving vehicle using speed camerasSPINS -Security Protocol For Sensor NetworkSplit Range SynchronizationStealth VirusSurface-conduction Electron-emitter Display (SED)Swarm intelligence & traffic SafetySynchronous Optical NetworkingSynthetic Aperture Radar SystemSystems Control for Tactical Missile GuidanceTesting methods (Stress, Black-Box, White-Box, Performance Testing etc )The Architecture of a Moletronics ComputerThe Tiger SHARC processorThermal infrared imaging technologyThought Translation Device (TTD)Time Shared O.S.Tracking and Positioning of Mobiles in TelecommunicationTrends in Compiler ConstructionThree-dimensional password for more secure authenticationUltrasonic motorWearable biosensorsWeb-miningTraffic Light Control SystemMulti-Channel Infra Red Remote ControlMagic lightsZigbee Based Wireless Sensor Network for Sewerage MonitoringWireless integrated network sensorsUbiquitous NetworkingUltra Low-Power Microphone Pre-AmplifierUltra Low-Power Radio Receiver for Biomedical ApplicationsUltrasonic detector for monitoring partial dischargeUltra-Wideband CommunicationUMA (Unlicensed Mobile Access )Vector – LDPC Codes for 3G Fading ChannelsVirtual SurgeryWideband Spectrum Sensing for Cognitive Radio SystemsWireless Computer Communications Using Sound WavesLink available for getting details about some topic. 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New technologies—supported by advances in encryption and network computing—are driving transformational change in the global economy, including in how goods, services and assets are exchanged. An important development in this process has been the emergence of virtual currencies (VCs). VC schemes are private sector systems that, in many cases, facilitate peer-to-peer exchange bypassing traditional central clearinghouses.VCs and their associated technologies (notably distributed ledgers based on blockchains) are rapidly evolving, and the future landscape is difficult to predict. VCs offer many potential benefits, including greater speed and efficiency in making payments and transfers—particularly across borders––and ultimately promoting financial inclusion. The distributed ledger technology underlying some VC schemes—an innovative decentralized means of keeping track of transactions in a large network––offers potential benefits that go far beyond VCs themselves. At the same time, VCs pose considerable risks as potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used.A lot of people do not know there are so many ways to earn cryptocurrencies by investing legitimately in platforms like www.coastminers.tech where they can get double of their investment in 7 days without losing them(thank me later).The development of effective regulatory responses to VCs is still at an early stage. VCs are difficult to regulate as they cut across the responsibilities of different agencies at the national level, and operate on a global scale. Many are opaque and operate outside of the conventional financial system, making it difficult to monitor their operations. Regulators have begun to address these challenges, with a variety of approaches across countries. Responses have included clarifying the applicability of existing legislation to VCs, issuing warnings to consumers, imposing licensing requirements on certain VC market participants, prohibiting financial institutions from dealing in VCs, completely banning the use of VCs, and prosecuting violators.These approaches represent an initial policy response to the challenges that VCs pose, but further development is needed. In particular, national authorities will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. More could be done at the international level to facilitate the process of developing and refining policies at the national level. International bodies are playing an important role in identifying and discussing the risks posed by VCs and possible regulatory responses, and they should continue to do so. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization across jurisdictions. Such standards could also set out frameworks for cross-country cooperation and coordination in areas such as information sharing and the investigation and prosecution of cross-border offenses.VIRTUAL CURRENCIES AND BEYOND 6 INTERNATIONAL MONETARY FUND INTRODUCTION A. Overview 1. New technologies are driving transformational changes in the global economy, including in how goods, services, and assets are exchanged. The development of monies and a variety of payments systems throughout history have helped make exchange more efficient and secure. The rapid spread of Internet-based commerce and mobile technology––supported by advances in encryption and network computing––has driven the development of several innovative technologies. Companies such as Uber and Airbnb have developed radical new business models. Secure online payments systems (for example, PayPal) and mobile payments and transfer solutions (for example, M-Pesa) are changing the ways in which payments for goods and services are made. 2. An important development in this process of transformation has been the emergence of virtual currencies (VCs). VCs, in principle, question the paradigm of state-supported fiat currencies and the dominant role that central banks and conventional financial institutions have played in the operation of the financial system.VCs are issued without the involvement or backing of a state. Some VC schemes make use of “distributed ledger” technologies that provide complete and secure transaction records without using a central registry. These technologies therefore allow for direct peer-to-peer transactions and eliminate the need for central clearinghouses. It is therefore not surprising that private sector interest in these new technologies has been growing, and that attention from regulators and policymakers has not been far behind. 3. VCs and their underlying distributed ledger technologies have the potential to generate benefits. VC schemes and distributed ledger technologies can strengthen financial efficiency by facilitating peer-to-peer exchange while reducing transaction times and costs, especially across borders.In the longer term, these technologies have the potential to deepen financial inclusion by offering secure and lower-cost payments options. Beyond payments systems, distributed ledger technologies have implications for a wide range of markets and financial market infrastructures as a fast, accurate and secure record keeping system, including for stock exchanges, central securities depositories, securities settlement systems or trade repositories. Technological and regulatory progress will be needed to realize these potential benefits. 4. However, these technologies also pose risks. VCs can be misused as vehicles for money laundering, terrorist financing, and tax evasion, and other forms of illicit activity. While risks to the conduct of monetary policy seem less likely to arise, risks to financial stability may eventually emerge as the new technologies come into more wide-spread use.Although the growing use of distributed ledger technologies outside of the context of VCs pose far fewer risks, it may over time pose a serious challenge to parts of the business model of the established financial system. VCs and distributed ledger technologies will thus continue to attract the attention of policymakers and regulators at both the national and international levels. VIRTUAL CURRENCIES AND BEYOND INTERNATIONAL MONETARY FUND 7 5. Any policy response to VCs will need to strike an appropriate balance between forcefully addressing risks and abuses while avoiding overregulation that could stifle innovation. The initial focus should be on the most pressing concerns related to VCs—including financial integrity, consumer/investor protection, and tax evasion—while leaving less immediate risks (for example, financial stability, monetary policy) to a later stage.VCs combine many different properties of electronic payment systems, currencies, and commodities that span the responsibilities of several types of regulators at the national level. VCs operate in a virtual world that signNowes across borders, increasing potential risks and creating opportunities for regulatory arbitrage. Effective policy coordination will therefore be required at the national and international levels. 6. This paper discusses the potential benefits and risks posed by VCs and how financial regulators could approach them. The paper begins by explaining what VCs are, and how they work. It then examines key features and related developments in distributed ledger technologies underlying decentralized VCs, along with their potential use for financial development and financial inclusion. The paper subsequently discusses the policy and regulatory implications of VCs generally and concludes with a brief discussion of areas for future analysis.7. As a starting point, it is important to note that the VC landscape is still new and rapidly changing. It is therefore not possible to fully predict the future direction and importance of these evolving technologies or to identify specific longer-term policy responses. The paper is therefore intended as a first step and a platform for further research and analysis. Many of the questions it raises are left for future discussion. B. What are Virtual Currencies? 8. VCs are digital representations of value, issued by private developers and denominated in their own unit of account.2 VCs can be obtained, stored, accessed, and transacted electronically, and can be used for a variety of purposes, as long as the transacting parties agree to use them. The concept of VCs covers a wider array of “currencies,” ranging from simple IOUs of issuers (such as Internet or mobile coupons and airline miles), VCs backed by assets such as gold,3 and “cryptocurrencies” such as Bitcoin.9. As digital representations of value, VCs fall within the broader category of digital currencies (Figure 1). However, they differ from other digital currencies, such as e-money, which is a digital payment mechanism for (and denominated in) fiat currency. VCs, on the other hand, are not denominated in fiat currency and have their own unit of account. 2 Given the fast evolving nature of the industry, a universal definition has yet to emerge and could quickly change as the VC ecosystem continues to transform. 3 This type of VCs is backed by the combination of existing tangible assets or national currencies and the creditworthiness of the issuer. VIRTUAL CURRENCIES AND BEYOND 8 INTERNATIONAL MONETARY FUND Figure 1. Taxonomy of Virtual Currencies10. VC schemes comprise two key elements: (i) the digital representation of value or “currency” that can be transferred between parties; and (ii) the underlying payment and settlement mechanisms, including the distributed ledger system (see the section on distributed ledgers and Box 2).11. VC schemes have different levels of convertibility to real-world goods, services, national currencies, or other VCs. Non-convertible VCs (or closed schemes) operate exclusively within a self-contained virtual environment. Under these systems, the exchange of VCs with fiat currency (or other VCs) or its use in payments for goods and services outside of the virtual domain is signNowly restricted. In contrast, convertible VCs (or open schemes) allow for the exchange of the VC with fiat currency (or other VCs) and for payments for goods and services in the real economy.4 The level of contact between convertible VCs and the real economy is much greater than is the case in closed schemes.512. VC schemes can operate through a centralized, decentralized, or hybrid model. The operation of VC schemes includes three components: (i) the issuance and redeemability of the VC; (ii) mechanisms to implement and enforce internal rules on the use and circulation of the currency; and (iii) the payment and settlement process. Each area of operation may be managed by a trusted central (and private) party or in a decentralized manner among participants. Hybrid schemes also 4 An additional distinction is sometimes made between unidirectional flow and bidirectional flow of convertibility, with the former referring to VCs that can be obtained in exchange for fiat currency (or other VCs), but cannot be converted back to fiat currency (or other VCs)—the flow of convertibility being unidirectional (for example, Nintendo Points, some frequent-flyer programs air miles)—and the latter—where the flow of convertibility is bidirectional (for example, Bitcoin, Linden Dollar). See ECB (2012). 5 It should be noted that convertible VCs may be subject to illiquid markets, limiting their de facto convertibility. (continued) VIRTUAL CURRENCIES AND BEYOND INTERNATIONAL MONETARY FUND 9 exist, where some functions are performed by a central authority, while others are distributed among market participants.613. Decentralized VC schemes use techniques from cryptography for their operations— hence the “cryptocurrency” moniker:  In decentralized systems, there is no central party (for example, a central bank) administering the system or issuing VCs. Rather, the central party is replaced by a framework of internal protocols that govern the operation of the system and allow the verification of transactions to be performed by the system participants themselves. As payments and transactions are made through the system, these participants (often referred to as “miners”) are rewarded in newly minted “currency” for performing the payment processing function (referred to as “mining”). This approach serves two purposes: it introduces newly minted VCs into the system and enables the decentralized operation of the VC scheme. In contrast to fiat currency, a cryptocurrency does not represent a liability on anyone.  These systems may allow for the issuance of a limited or unlimited number of currency units. Under most such systems (including Bitcoin), there is currently a limit on the number of currency units that may ultimately be issued. However, new systems are emerging that do not include such limits.  Most cryptocurrencies are “pseudo-anonymous”—while cryptocurrency transactions are publicly recorded, users are known only by their VC “addresses,” which cannot be traced back to users’ real-world identity. As such, cryptocurrency transactions are more transparent than cash but more anonymous than other forms of online payment. Cryptocurrencies challenge the standard concept of fiat currencies. The value of existing fiat currencies is backed by the creditworthiness of the central bank and the government. Centrally issued VCs rely on the backing of the private issuer’s credibility while the value of privately issued currencies (see Box 1 and the next section) have historically been supported by the private issuer’s credibility and commodity reserves. In contrast, the value of cryptocurrencies does not have any backing from any source. They derive value solely from the expectation that others would also value and use them. 14. VCs can be obtained in a variety of ways. Convertible VCs can typically be purchased or exchanged with fiat currency or other VCs, through a VC exchange, through a trade platform,7 or directly with another VC holder. They can also be obtained in payment for goods or services.As noted above, decentralized VCs can be obtained by participating in the transaction validation 6 For example, Ripple. 7 Trade platforms provide a forum where buyers and sellers can offer and bid for VCs (akin to a market place). (continued) VIRTUAL CURRENCIES AND BEYOND 10 INTERNATIONAL MONETARY FUND process (for example, “mining”). VCs are typically stored in a “VC wallet,” either directly through a VC wallet software application or through an intermediary—a VC wallet service provider.8 15. Ancillary service providers have entered the market. Payment facilitators operate as intermediaries between consumers and merchants/retailers, converting VC payments into fiat currency and bearing the exchange rate risk of the transaction. In the case of cryptocurrencies, some service providers offer additional anonymizing services that further obfuscate the traceability of transactions.ARE VIRTUAL CURRENCIES MONEY? 16. Several questions arise when considering the role of VCs as money. 9 Do they satisfy the legal definition of money and fulfill all the economic roles of money (store of value, medium of exchange, and unit of account)? How do they compare to other privately-issued monies that existed historically? If they become more widely used, could (or should) these privately-issued currencies substitute for national currencies? 8 VC wallets are used by VC holders to hold and transact in VCs. Cryptocurrencies are stored in digital wallet software associated with cryptographic keys: (i) “public keys,” which are used to encrypt data and function akin to an account number; and (ii) “private keys”, which are needed for decryption and which function akin to a password to access the cryptocurrencies or a signature to authenticate transactions.Where no intermediary is involved (for example, VC wallet service provider), the loss of a private key will in effect result in the loss of the VCs held in the VC wallet, as the owner of the wallet cannot access its content. VC wallets can be held online (“hot storage”) or offline (“cold storage”). The latter is considered to afford greater protection against hacking and theft. 9 “Money” could have different meanings depending on the context. VCs are comparable to banknotes, coins, and other liabilities of the issuer—the central bank in a modern monetary system. These are also called high-powered money, central bank liability, base money, or outside money. In contrast, money supply includes base money and liabilities (denominated in the national currency) created by banks and bank-like financial institutions (such as deposits and some money market fund shares—called inside money).Even in a system where the central bank has a monopoly right to issue base money, the bulk of the money supply could be provided in a decentralized manner by multiple financial institutions. These financial institutions could be regulated or unregulated (such as shadow banks and as in the “free banking” regime (Gorton, 1985). On the other hand, there is currently no known financial institution that provides inside money in VCs, and the VC monetary system consists only of high-powered money.VIRTUAL CURRENCIES AND BEYOND INTERNATIONAL MONETARY FUND 11 A. Perspectives from Theory and History 17. Theory and history offer some guide-posts for considering these questions (Box 1):  Theory. High inflation in the 1970s after the end of the Bretton Woods System renewed skepticism in some quarters over granting central banks monopoly power to issue nonconvertible fiat currency.10 Friedman and Schwartz (1986) and Fischer (1986) reject Hayek’s proposal to denationalize money (1976). Other researchers, however, continue to contemplate laissez-faire monetary regimes, and there has also been extensive theoretical work on the feasibility and optimality of privately issued money under monopoly or competition.11  History.VCs are not the first example of currencies privately issued in a decentralized manner. While VCs are of course very different from national currencies, monetary systems and the legal concept of money have evolved substantially over time and will continue to change in the future. VCs should thus not be judged solely based on their current characteristics or on how they compare to current monetary regimes. 18. A detailed comparison of the characteristics of VCs with existing and historical currencies sheds further light on these issues (Table 1). For the sake of specificity, Bitcoin is used as a representative example of a VC and compared to a home currency, a foreign currency, and a commodity asset based on current arrangements.Moreover, for a historical perspective, the table also includes key features of a commodity (gold bullion), a commodity currency (gold/silver coins), and a fiat currency convertible into gold and other commodities (the gold standard). The experiences during the U.S. Greenback era are also included, when the government-issued nonconvertible fiat currency “Greenbacks” and private banks were allowed to issue notes as currency. The monetary policy discussion in the policy challenges section assesses whether VCs could provide desirable monetary systems or not. 10 Convertibility in this section refers to convertibility of fiat currencies to commodity reserves and international reserves, in the context of the gold standard or the Bretton Woods System, in contrast with the convertibility of VCs into national currencies as discussed in the earlier section.11 See, for example, King (1983), White (1984), Taub (1985), Selgin (1988), and Selgin and White (1994). VIRTUAL CURRENCIES AND BEYOND 12 INTERNATIONAL MONETARY FUND Box 1. Public and Private Provision of Money: History and Theory Both history and economic theory broadly seem to support a monetary regime with public provision of currency over a competitive private system. The historical track record of containing inflation is mixed across both private and public systems. However, public systems appear to function better when there is a systemic liquidity shortage at the time of a financial crisis and the need arises for a lender-of-last-resort (LOLR). Resilience against inflation There are examples where currency was provided by multiple private banks without high inflation.In fact, many central banks in major advanced economies were first established as private banks, and their currencies did not have legal tender or monopoly status (Box Table). Also, notes issued by (multiple) national banks during the U.S. Greenback era did not have legal tender status but were traded at par with government issued notes (Calomiris, 1988). Box Table. The Origins of Central Bank Powers Country Date founded Monopoly over note issue Notes made legal tender State ownership France 1800 1848 1878 1945 Germany 1875 1875 1909 1948 Japan 1882 1884 1885 NA Italy 1893 1893 1893 NA United Kingdom (England) 1694 1844 1833 1946 United States 1913 1913 1933 NA Canada 1934 1935 1935 1938 Source: Redish (1993).But systems were needed to curb the tendency to print too much money. During the U.S. Greenback era, when convertibility was temporarily suspended to finance the Civil War, note-issuing private banks were subject to various regulations. Their notes were printed by the government and backed 111 percent by government bonds held on deposit at the Treasury (reserve requirement), making them indirect obligations of the government. The aggregate amount of nationally chartered banks’ notes was capped though the limit was later abolished. Moreover, their value was supported by the expectation to resume convertibility when the war was over (Calomiris, 1988). Without these systems, privately-provided nonconvertible fiat money often ended up being supplied in excess. Redish (1993) shows an example of nonconvertible notes with legal tender status issued by a French private bank in the late 18th century. Privately provided notes in late- 19th century Japan led to inflation when their supply ballooned after banks suspended convertibility to gold.The inflation performance of public moneys has been mixed. Before the collapse of the Bretton Woods System, international monetary regimes were largely anchored by gold and/or pegs to the pound Sterling and U.S. dollar standard (Bordo, 1981, and Redish, 1993) that were successful in anchoring inflation. Excess inflation happened even under commodity currency regimes (coins) for seignorage revenue. Medieval European monarchs—who had a monopoly right to mint coins or charge a fee for running a mint—often debased the currency by raising the unit of account value of a coin at the mint and reducing the precious metal content per coin. In a contemporary context, macro policy mismanagement has often led to high inflation and hyperinflation, as observed in many emerging and developing economies. Among major advanced economies, high inflation occurred in the 1970s following the end of the Bretton Woods System.VIRTUAL CURRENCIES AND BEYOND INTERNATIONAL MONETARY FUND 13 These experiences underpinned substantial discussions on tying central banks’ hands again by returning to a rules-based framework including the gold standard (Friedman and Schwartz, 1986). Lender-of-last-resort Theory suggests that the private provision of money is not optimal when an economy may face system-wide liquidity shortages.  The efficiency of competitive market equilibrium has been a key rationale cited by supporters of private provision of money (White, 1984, and Selgin, 1988). However, competitive equilibrium may not be optimal when the market is incomplete, or there is asymmetric information that could cause moral hazard (Mas-Colell, Winston, and Green, 1995). Such imperfections are typical in financial markets. Markets are also incomplete in the sense that not every risk is insurable among individuals, and everyone in the system could be hit by a large, negative, systemic shock.  Many researchers have thus argued that public provision of money could improve economic welfare.Weiss (1980) shows the welfare-improving role of central bank money and active monetary policy as these facilitate inter-temporal smoothing in an overlapping generations framework. Diamond and Dybvig (1983) and Bryant (1980) show the effectiveness of public liquidity and deposit insurance in managing bank runs. Private provision of liquidity becomes insufficient and leads to a crisis without public outside money if a systemic shock hits the system, and contagion risks are imminent (Allen and Gale, 2000, Freixas, Parigi, Rochet, 2000, Holmstrom and Tirole, 1998, Tirole, 2008).1 History also seems to suggest that central banks in major economies often emerged in response to the need for a creditworthy institution to be the LOLR and manage bank runs (Goodhart, 1988, Redish, 1993, Gorton and Huang, 2006).In early history, large private banks acted as LOLR, but the need to handle bank runs more systematically eventually made them central banks or led to the establishment of new central banks. In the U.S., J.P Morgan pledged large sums of his own money and convinced other New York bankers to do the same to shore up the banking system in the 1907 financial crisis. The experience eventually led to the establishment of the Federal Reserve Board in 1913. As of late 18th century, the Bank of England (BOE) was a private bank, serving as the government’s banker. The BOE notes gained legal tender status and monopoly issuance power, as the bank had strong credibility to be able to provide liquidity for other banks in distress. Similar development is also observed with other major central banks (Box Table).The global financial crisis provided a further reminder of the need for a credible LOLR. ___________________ 1/ The welfare implication may become less clear when the moral hazard costs from LOLR are incorporated in the analyses. VIRTUAL CURRENCIES AND BEYOND 14 INTERNATIONAL MONETARY FUND Table 1. Characteristics of Currencies: A Comparison Feature Bitcoin USD (home currency) Euro (foreign currency) Commodity (bullion) Commodity currency (coin) Gold standard U.S. Greenback Era (1861–78) Economic demand factors Intrinsic value None None None Yes Yes None None Claim to issuers? No Yes Yes No No Yes Yes Legal tender No Yes No (in the U.S.) na na Mixed Yes (no) to public note (private) Used as a medium of exchange Small, but rising especially in online retail Yes Limited (in the U.S.) possibly more for cross-border trade Yes Yes Yes Yes Used as unit of account No Yes No (in the U.S.) Yes Yes Yes Yes (all notes shared “dollar” unit) Used as store of value Yes, subject to very high exchange rate risk and sudden confidence shock Yes, subject to inflation risk Yes, subject to foreign exchange risk Yes, subject to commodity price risk/cycle.Yes, subject to dilution of quality (inflation/devaluati on) Yes, subject to devaluation risk Yes, subject to inflation risk Supply structures Monopoly/decentr alized Decentralized Monopoly Monopoly Decentralized Mixed Mixed Decentralized Supply source Private Public Foreign public Private/public mining Mixed Mixed Public and private Supply quantity Inflexible Flexible Flexible Inflexible Inflexible Inflexible Flexible Supply rule Computer program Rule-based (inflation target) Rule-based (inflation target) Opportunity cost for mining Tied to commodity in bullion Tied to commodity by reserve ratio Private note subject to reserve requirement.Supply rule change (by issuers) possible? Yes with agreement of majority miners Yes Yes No Quality of minted coins can be diluted. Reserve ratio can be changed and economized No for private banks. Cost of production High (electricity consumption for computation) Low Low Very high (mining) Medium Low Low VIRTUAL CURRENCIES AND BEYOND INTERNATIONAL MONETARY FUND 15 Table 1. Characteristics of Currencies: A Comparison, cntd. Feature Bitcoin USD (home currency) Euro (foreign currency) Commodity (bullion) Commodity currency (coin) Gold standard US Greenback Era (1861-78) Macro-financial stability risks Risk of hyperinflation due to over-supply? No for individual VCs Possible (with policy mismanagement) ... Limited Possible (by diluting coin quality) Possible (by ending convertibility) Possible (if losing credibility to resume convertibility) Risk of long-term hyperdeflation High Low … High High High Low Base money quantity changes to temporary shocks? No (limited even with rule changes) Yes No (to US money demand shocks) No No Somewhat (by changing reserve ratio subject to total holding of gold) Yes Can the issuer be lender of last resort with outside money?

The Mobius 2018 conference held in Saint Petersburg earlier this year featured a talk by the guys from Revolut – Roman Yatsina and Ivan Vazhnov, called Multiplatform architecture with Kotlin for iOS and Android.After watching the live talk, I wanted to try out how Kotlin/Native handles multiplatform code that can be used on both iOS and Android. I decided to rewrite the demo project from the talk a little bit so it could load the list of user’s public repositories from GitHub with all the branches to each repository.Project structuremultiplatform ├─ android ├─ common ├─ ios ├─ platform-android └─ platform-ios Common modulecommon is the shared module that only contains Kotlin with no platform-specific dependencies. It can also contain interfaces and class/function declarations without implementations relying on a certain platform. Such declarations allow using the platform-dependent code in the common module.In my project, this module encompasses the business logic of the app – data models, presenters, interactors, UIs for GitHub access with no implementations.Some examples of the classesUIs for GitHub access:expect class ReposRepository { suspend fun getRepositories(): List suspend fun getBranches(repo: GithubRepo): List } Take a look at the expect keyword. It is a part of the expected and actual declarations. The common module can declare the expected declaration that has the actual realization in the platform modules. By the expect keyword we can also understand that the project uses coroutines which we’ll talk about later.Interactor:class ReposInteractor( private val repository: ReposRepository, private val context: CoroutineContext ) { suspend fun getRepos(): List { return async(context) { repository.getRepositories() } .await() .map { repo -> repo to async(context) { repository.getBranches(repo) } } .map { (repo, task) -> repo.branches = task.await() repo } } } The interactor contains the logic of asynchronous operations interactions. First, it loads the list of repositories with the help of getRepositories() and then, for each repository it loads the list of branches getBranches(repo). The async/await mechanism is used to build the chain of asynchronous calls.ReposView interface for UI:interface ReposView: BaseView { fun showRepoList(repoList: List) fun showLoading(loading: Boolean) fun showError(errorMessage: String) } The presenterThe logic of UI usage is specified equally for both the platforms.class ReposPresenter( private val uiContext: CoroutineContext, private val interactor: ReposInteractor ) : BasePresenter() { override fun onViewAttached() { super.onViewAttached() refresh() } fun refresh() { launch(uiContext) { view?.showLoading(true) try { val repoList = interactor.getRepos() view?.showRepoList(repoList) } catch (e: Throwable) { view?.showError(e.message ?: "Can't load repositories") } view?.showLoading(false) } } } What else could be included in the common moduleAmong all the rest, the JSON parsing logic could be included into the common module. Most of the projects contain this logic in a complicated form. Implementing it in the common module could guarantee similar treatment of the server incoming data for iOS and Android.Unfortunately, in the kotlinx.serialization serialization library the support of Kotlin/Native is not yet implemented.A possible solution could be writing your own or porting one of the simpler Java-based libraries for Kotlin. Without using reflections or any other third-party dependencies. However, this type of work goes beyond just a test project ‍♂️Platform modulesThe platform-android and platform-ios platform modules contain both the platform-dependent implementation of UIs and classes declared in the common module, and any other platform-specific code. Those modules are also written with Kotlin.Let’s look at the ReposRepository class implementation declared in the common module.platform-androidactual class ReposRepository( private val baseUrl: String, private val userName: String ) { private val api: GithubApi by lazy { Retrofit.Builder() .addConverterFactory(GsonConverterFactory.create()) .addCallAdapterFactory(CoroutineCallAdapterFactory()) .baseUrl(baseUrl) .build() .create(GithubApi::class.java) } actual suspend fun getRepositories() = api.getRepositories(userName) .await() .map { apiRepo -> apiRepo.toGithubRepo() } actual suspend fun getBranches(repo: GithubRepo) = api.getBranches(userName, repo.name) .await() .map { apiBranch -> apiBranch.toGithubBranch() } } In the Android implementation, we use the Retrofit library with an adaptor converting the calls into a coroutine-compatible format. Note the actual keyword we’ve mentioned above.platform-iosactual open class ReposRepository { actual suspend fun getRepositories(): List { return suspendCoroutineOrReturn { continuation -> getRepositories(continuation) COROUTINE_SUSPENDED } } actual suspend fun getBranches(repo: GithubRepo): List { return suspendCoroutineOrReturn { continuation -> getBranches(repo, continuation) COROUTINE_SUSPENDED } } open fun getRepositories(callback: Continuation>) { throw NotImplementedError("iOS project should implement this") } open fun getBranches(repo: GithubRepo, callback: Continuation>) { throw NotImplementedError("iOS project should implement this") } } You can see the actual implementation of the ReposRepository class for iOS in the platform module does not contain the specific implementation of server interactions. Instead of this, the suspendCoroutineOrReturn code is called from the standard Kotlin library and allows us to interrupt the execution and get the continuation callback which has to be called upon the completion of the background process. This callback is then passed to the function which will be re-specified in the Xcode project where all the server interaction will be implemented (in Swift or Objective-C). The COROUTINE_SUSPENDED value signifies the suspended state and the result will not be returned immediately.iOS appThe following is an Xcode project that uses the platform-ios module as a generic Objective-C framework.To assemble platform-ios into a framework, use the konan Gradle plugin. Its settings are in the platform-ios/build.gradle file:apply plugin: 'konan' konanArtifacts { framework('KMulti', targets: ['iphone_sim']) { ... KMulti is a prefix for the framework. All the Kotlin classes from the common and platform-iosmodules in the Xcode project will have this prefix.After the following command,./gradlew :platform-ios:compileKonanKMultiIphone_sim the framework can be found under:/kotlin_multiplatform/platform-ios/build/konan/bin/ios_x64 It has to be added to the Xcode project.This is how a specific implementation of the ReposRepository class looks like. The interaction with a server is done by means of the Alamofire library.class ReposRepository: KMultiReposRepository { ... override func getRepositories(callback: KMultiStdlibContinuation) { let url = baseUrl.appendingPathComponent("users/\(githubUser)/repos") Alamofire.request(url) .responseJSON { response in if let result = self.reposParser.parse(response: response) { callback.resume(value: result) } else { callback.resumeWithException(exception: KMultiStdlibThrowable(message: "Can't parse github repositories")) } } } override func getBranches(repo: KMultiGithubRepo, callback: KMultiStdlibContinuation) { let url = baseUrl.appendingPathComponent("repos/\(githubUser)/\(repo.name)/branches") Alamofire.request(url) .responseJSON { response in if let result = self.branchesParser.parse(response: response) { callback.resume(value: result) } else { callback.resumeWithException(exception: KMultiStdlibThrowable(message: "Can't parse github branches")) } } } } Android appWith an Android project it is all fairly simple. We use a conventional app with a dependency on the platform-android module.dependencies { implementation project(':platform-android') Essentially, it consists of one ReposActivity which implements the ReposView interface.override fun showRepoList(repoList: List) { adapter.items = repoList adapter.notifyDataSetChanged() } override fun showLoading(loading: Boolean) { loadingProgress.visibility = if (loading) VISIBLE else GONE } override fun showError(errorMessage: String) { Toast.makeText(this, errorMessage, Toast.LENGTH_LONG).show() } Coroutines, apples, and magicSpeaking of coroutines and magic, in fact, at the moment coroutines are not yet supported by Kotlin/Native. The work in this direction is ongoing. So how on Earth do we use the async/awaitcoroutines and functions in the common module? Let alone in the platform module for iOS.As a matter of fact, the async and launch expect functions, as well as the Deferred class, are specified in the common module. These signatures are copied from kotlinx.coroutines.import kotlin.coroutines.experimental.Continuation import kotlin.coroutines.experimental.CoroutineContext expect fun async(context: CoroutineContext, block: suspend () -> T): Deferred expect fun launch(context: CoroutineContext, block: suspend () -> T) expect suspend fun withContext(context: CoroutineContext, block: suspend () -> T): T expect class Deferred { suspend fun await(): T } Android coroutinesIn the platform-android platform module, declarations are mapped into their implementations from kotlinx.coroutines:actual fun async(context: CoroutineContext, block: suspend () -> T): Deferred { return Deferred(async { kotlinx.coroutines.experimental.withContext(context, block = block) }) } iOS coroutinesWith iOS things are a little more complicated. As mentioned above, we pass the continuation(KMultiStdlibContinuation) callback to the functions that have to work asynchronously. Upon the completion of the work, the appropriate resume or resumeWithExceptionmethod will be requested from the callback: override func getBranches(repo: KMultiGithubRepo, callback: KMultiStdlibContinuation) { let url = baseUrl.appendingPathComponent("repos/\(githubUser)/\(repo.name)/branches") Alamofire.request(url) .responseJSON { response in if let result = self.branchesParser.parse(response: response) { callback.resume(value: result) } else { callback.resumeWithException(exception: KMultiStdlibThrowable(message: "Can't parse github branches")) } } } In order for the result to return from the suspend function, we need to implement the ContinuationInterceptor interface. This interface is responsible for how the callback is being processed, specifically which thread the result (if any) will be returned in. For this, the interceptContinuation function is used.abstract class ContinuationDispatcher : AbstractCoroutineContextElement(ContinuationInterceptor), ContinuationInterceptor { override fun interceptContinuation(continuation: Continuation): Continuation { return DispatchedContinuation(this, continuation) } abstract fun dispatchResume(value: T, continuation: Continuation): Boolean abstract fun dispatchResumeWithException(exception: Throwable, continuation: Continuation<*>): Boolean } internal class DispatchedContinuation( private val dispatcher: ContinuationDispatcher, private val continuation: Continuation ) : Continuation { override val context: CoroutineContext = continuation.context override fun resume(value: T) { if (dispatcher.dispatchResume(value, continuation).not()) { continuation.resume(value) } } override fun resumeWithException(exception: Throwable) { if (dispatcher.dispatchResumeWithException(exception, continuation).not()) { continuation.resumeWithException(exception) } } } In ContinuationDispatcher there are abstract methods implementation of which will depend on the thread where the executions will be happening.Implementation for UI threadsimport platform.darwin.* class MainQueueDispatcher : ContinuationDispatcher() { override fun dispatchResume(value: T, continuation: Continuation): Boolean { dispatch_async(dispatch_get_main_queue()) { continuation.resume(value) } return true } override fun dispatchResumeWithException(exception: Throwable, continuation: Continuation<*>): Boolean { dispatch_async(dispatch_get_main_queue()) { continuation.resumeWithException(exception) } return true } } Implementation for background threadsimport konan.worker.* class DataObject(val value: T, val continuation: Continuation) class ErrorObject(val exception: Throwable, val continuation: Continuation) class AsyncDispatcher : ContinuationDispatcher() { val worker = startWorker() override fun dispatchResume(value: T, continuation: Continuation): Boolean { worker.schedule(TransferMode.UNCHECKED, {DataObject(value, continuation)}) { it.continuation.resume(it.value) } return true } override fun dispatchResumeWithException(exception: Throwable, continuation: Continuation<*>): Boolean { worker.schedule(TransferMode.UNCHECKED, {ErrorObjeвыct(exception, continuation)}) { it.continuation.resumeWithException(it.exception) } return false } } Now we can use the asynchronous manager in the interactor:let interactor = KMultiReposInteractor( repository: repository, context: KMultiAsyncDispatcher() ) And the main thread manager in the presenter:let presenter = KMultiReposPresenter( uiContext: KMultiMainQueueDispatcher(), interactor: interactor ) Key takeawaysThe pros:The developers implemented a rather complicated (asynchronous) business logic and common module data depiction logic.You can develop native apps using native libraries and instruments (Android Studio, Xcode). All of the native platforms’ capabilities are available through Kotlin/Native.It goddamn works!The cons:All the Kotlin/Native solutions in the project are yet in the experimental status. Using features like this in the production code is not a good idea.No support for coroutines for Kotlin/Native out of the box. Hopefully, this issue will be solved in the near future. This would allow developers to signNowly speed up the process of multiplatform projects creation while also simplifying it.An iOS project will only work on the arm64 devices (models starting from iPhone 5S).