DigitX, India’s first B2B crypto exchange has announced its operations. The trading exchange aims at providing transparency and security with it’s platform. This will help them to built confidence and trust of the investors and traders of crypto , on their platform. according to the founder of DigitX, Today, Crypto is experiencing a high level of popularity among a certain portion of the investor population. Working in highly potential market, DigitX has decided to operate with a selected set of trusted members for now but aiming to make them 100 by the end of 2021. This is with a view to build security in the crypto environment. In order to contribute to a transition in people ‘s engagement in the digital economy of the future, DigitX incorporates the power of technology, developed trade models and best regulatory practices.
Crypto is an alternative asset class, which promises to bring a lot of efficiencies, positive disruption, scalability and are quick in adaption backed by a very efficient technology backbone. We believe in the positive role it can play in our economy riding on Blockchain and Distributed Ledger Technology. To further expand this opportunity, the Crypto should be regulated by legitimate financial institutions of the country. We hope that the industry and all stakeholders can work in this .Ashish Mehta, co-founder, DigitX
What is Cryptocurrency?
A cryptocurrency can be describes as a digital asset which is designed to serve as an exchange medium. In this an individual coin ownership records are stored in a computerized database ledger using powerful cryptography to protect transaction records, monitor the production of extra coins, and verify the transfer of coin ownership. There is no physical form of cryptocurrency and not even issued by the central authority. When a cryptocurrency is minted by a single issuer, it is treated as centralized. Bitcoin is the first decentralized cryptocurrency released in 2009 as open-source software.
What is Stock exchange?
Stock Exchange is a kind of facility provided to the investors and traders for buying and selling of securities. Stock exchanges can also have facilities for the issuance and redemption, including payment of income and dividends, of certain securities and instruments and capital events.
Roles of Stock Exchange.
Stock exchange provides platform to raise capital, apart from borrowing capacity offered by the banking system to a person or company, in the form of a credit or loan, for the expansion of business in a company. During the starting ages, capital intensive companies, especially high-tech companies, often need to raise high volumes of capital. For this reason, one of the most significant sources of funding for many capital-intensive startups has been the public market offered by the stock exchanges.
Two Major Stock Exchanges in India.
The total number of stock exchanges in India counts to be 23. The major two of them is Bombay Stock Exchange(BSE) and National Stock Exchange (NSE). Rest 21 are the Regional Stock Exchanges (RSEs).
Both of them are separate stock exchanges in India. A company can list itself on both stock exchanges on the condition that if it has acquired BSE shares they can not be exchanged on the NSE and opposite of it.
Bombay Stock Exchange (BSE)
BSE is the Asia’s oldest stock exchange as well as India’s first stock exchanges. It was established in the year 1875. Shri Ashish kumar Chauhan is the Managing director and chief executive officer of BSE.
National Stock Exchange (NSE).
NSE founded in 1992. It started its trading in the year 1994. NSE also known as NIFTY introduced on-screen trading which graded the traders and investors attention as it reduces brokerage. Later, BSE introduced it as well.