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FINANCE
Rangoli Anand

Blockchain And The Future of Finance

Authors : Rangoli Anand, Anant Malik, Mani Shravan 1. Abstract Blockchain technology is reshaping digital platforms by influencing competition and innovation. This article explores its economic impact, focusing on two major cost factors: verification and networking. Verification costs involve the ability to validate transactions, asset ownership, and historical data efficiently. Networking costs refer to the process of establishing decentralized marketplaces without relying on a central authority. By combining cryptographic verification with incentive mechanisms, blockchain enables open digital ecosystems where participants collectively contribute to shared infrastructure. This decentralization fosters greater competition, lowers entry barriers, and enhances data privacy. However, it also introduces governance complexities and inefficiencies that require careful evaluation. This article examines both the advantages and challenges of blockchain technology, highlighting its significance in the digital economy. 2. Introduction Blockchain technology, with its flair, is supposed to revolutionize the economy and, at the same time, poised to disrupt traditional economic systems. Understanding the economic realities of Blockchain requires navigating a complex interplay of technological innovation and societal change. At its essence, Blockchain is a distributed and secure digital ledger technology where records are classified into blocks, linked together and maintained by a network of computers. This further ensures data integrity and immutability, fostering an environment of trust and transparency. These systems generally involve Cryptocurrencies or tokens, a field often known as tokenomics; hence, learning the Economics of Blockchain is certainly crucial. It provides tools to understand participant behavior within Blockchain ecosystems, evaluate the economic impact of Blockchain applications, explore how Blockchain disrupts various industries, develop effective regulations and foster innovation in emerging fields by analyzing future trends. By successfully understanding and application of economic principles, we can navigate the complexities of Blockchain and ensure sustainable growth. By examining these aspects, this paper aims to equip one with the knowledge necessary to effectively tackle the potential challenges and navigate the fast-evolving Blockchain landscape. 3. Background on Blockchain Technology A. Historical Development of Blockchain Blockchain technology emerged as a solution to digital trust and transparency issues. The concept was first introduced in 2008 by an anonymous entity, Satoshi Nakamoto, in a whitepaper outlining Bitcoin. The first blockchain network, Bitcoin, launched in 2009 as a decentralized, peer-to-peer digital currency. Over time, blockchain applications expanded beyond cryptocurrencies, with Ethereum introducing smart contracts in 2015, allowing self-executing agreements without intermediaries. Since then, blockchain has evolved into a versatile technology used in finance, supply chain management, healthcare, and beyond. B. Key Components of Blockchain i) Decentralization – Unlike traditional systems controlled by a central authority, blockchain operates on a distributed network, reducing single points of failure and enhancing security. ii) Consensus Mechanisms – Blockchain networks use protocols like Proof of Work (PoW) and Proof of Stake (PoS) to validate transactions and maintain integrity without a central authority. iii) Smart Contracts – These are self-executing contracts with predefined rules, enabling automated transactions when conditions are met, reducing reliance on intermediaries. C. Types of Blockchain i) Public Blockchain – Open to anyone, these networks (e.g., Bitcoin, Ethereum) are decentralized and secure but can have slower transaction speeds due to high participation. ii) Private Blockchain – Controlled by an organization, these offer faster transactions and enhanced privacy but lack full decentralization. iii) Consortium Blockchain – A hybrid model where multiple organizations share control, ensuring security and efficiency while maintaining some level of decentralization. D. Current Applications of Blockchain Technology Blockchain is widely used in cryptocurrency, financial services, supply chain tracking, healthcare data security, and digital identity verification. Governments and corporations are also exploring its potential for transparent voting systems and cross-border transactions, demonstrating its growing impact across industries. 4. Economic Principles Underlying Blockchain Several economic principles come into play when we talk about Blockchain technology. These include both microeconomic and macroeconomic principles. Blockchain technology leverages principles like decentralization, immutability, and transparency to enhance security and efficiency in various economic activities. Blockchain technology, through tokenization and smart contracts, empowers economic models by minimizing the need for intermediaries. However, achieving widespread adoption hinges on overcoming challenges related to scalability and regulatory frameworks (Liu & Zhang, 2024). A. Supply and Demand Dynamics The supply and demand of Blockchain technology is influenced by factors like adoption rates, innovation, investments, regulatory framework, and the availability of skilled developers and infrastructure. Following the recent trends, a surge in the demand for blockchain developers was spotted. This was majorly driven by the growing popularity of Cryptocurrencies and the development of new blockchain applications, which can lead to higher prices for Blockchain-related assets and services (Ito, 2024). By the way, we all are aware of an oversupply of engineers in the Indian market, a consequence of which is the oversaturated tech industry, leading to limited growth and low investments, hence generating low wages. A similar situation would be faced if there was an oversupply of Blockchain developers or a lack of investment in infrastructure. This would diminish the growth of the Blockchain system (An et al., 2023). It’s important to understand this to navigate and make informed decisions in the fast-paced blockchain market. B. Cost Structures Blockchain technology incurs multifaceted costs that encompass expenses related to development, infrastructure, energy consumption, maintenance, regulatory compliances, and the opportunity cost of allocating resources. While energy consumption, particularly Proof-of-Work, can be substantial, Blockchain’s potential to reduce costs and streamline the process is significant as it can eliminate intermediaries and generate overall efficiency and sustainability (Allen et al., 2019). C. Value Creation Blockchain technology drives value creation through several key mechanisms. It is done by ensuring data immutability and fostering decentralized networks; this improves efficiency and reduces costs through automation and streamlined processes, unlocking new business models through tokenization and decentralized applications while empowering individuals and communities through increased financial literacy and inclusion by necessitating greater control over personal data (Matharoo, 2023). These fundamental principles position blockchain to revolutionize various sectors and generate significant economic and social value. 5. Impact on Various Industries Blockchain technology is transforming various industries by enhancing transparency, security, and efficiency. Here’s a breakdown of its impact

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February 15, 2025 No Comments
International Relations
Abhishek Kulkarni

France’s Influence in the EU Before and After Brexit: A Deep Dive

France has played a pivotal role in the European Union, both before and after Brexit. As the UK exited, France’s influence in EU governance, trade, and diplomacy grew significantly. This paper explores France’s evolving leadership, economic strategies, and political stance, shaping the future of European integration and international relations.

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February 15, 2025 No Comments

STRATEGIC BIFURCATION AND HEGEMONIC CONTESTATION: DECIPHERING THE MULTIPOLAR REALIGNMENTS IN US-CHINA GEOSTRATEGIC FRICTIONS ACROSS THE INDO-PACIFIC

The South China Sea, a geostrategic cauldron in which the United States’ doctrine of a liberal-internationalist maritime regime clashes with neo-Chinese claims of jurisdictional hegemony manifest in the virtually spurious nine-dash line doctrine, has become the arena of power contestation, both kinetic and otherwise. There, territorial conflicts go beyond territory and map onto the complex networks of economic hegemony, environmental securitization, and infrastructural hegemony. The contrast of Beijing’s Belt and Road Initiative with Washington’s Blue Dot Network indicates the new divide in global infrastructure diplomacy, where development paradigms oscillate somewhere in between state-directed economic patronage and multilateral regulatory stringency. At the same time, the securitization of the maritime commons compounds environmental vulnerability, converting militarization and resource extraction into an ontological crisis for the coastal states. Such a tangled geopolitical tableau affords an argument for a polycentric analytical lens that transcends the bounds of orthodox realist dogma and embraces a constructivist dialectic that synthesizes competing sovereign narratives into a coherent multilateral framework.

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February 15, 2025 No Comments
Health
Niharika Punia

UNDERSTANDING THE LINK BETWEEN CHILDHOOD TRAUMA AND SUBSTANCE ABUSE

Emotional and psychological health are greatly impacted by childhood trauma, which frequently results in substance misuse as a coping strategy. According to the self-medication theory, people who have experienced early-life trauma turn to drugs or alcohol as a coping mechanism. Trauma increases the likelihood of addiction by changing attachment patterns and neurobiological pathways. In order to create trauma-informed therapies that address drug abuse and emotional recovery, eventually ending the cycle of addiction and promoting resilience, it is imperative to comprehend this relationship.

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February 15, 2025 No Comments
Public Policies
asmeet kaur

Policy Implementation: Challenges and Opportunities

This article examines the barriers to effective climate change policy implementation, including political, economic, regulatory, and social challenges. It highlights the conflict between short-term political goals and long-term environmental strategies, the influence of powerful industries, and socio-economic inequalities. The article emphasizes the importance of governance reforms, stakeholder engagement, and international cooperation to enhance policy effectiveness. Successful approaches include decentralized decision-making and equity-driven frameworks to improve transparency and inclusivity.

Keywords: climate policy, policymaking, political barriers, economic constraints, regulatory challenges, equity in policymaking, governance reforms, stakeholder engagement, international cooperation, Paris agreement

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February 15, 2025 No Comments
International Relations
Vaibhav puri

Gender Apartheid in Afghanistan: The Taliban’s War on Women’s Rights

Gender Apartheid in Afghanistan: The Taliban’s War on Women’s Rights Introduction The Taliban, an extremist militia, first seized control of Herat in 1994 before capturing Kabul, the capital of Afghanistan, on September 27, 1996. Their rule plunged Afghanistan into a brutal totalitarian regime, imposing gender apartheid that stripped women and girls of their fundamental human rights. Under Taliban rule, women were banned from education and employment, denied healthcare, forced into seclusion, and subjected to severe violence and oppression. The erasure of women from public life not only violated human rights but also led to devastating social and economic consequences for the entire population. This paper will explore the systematic oppression of women, the wider societal impact of Taliban policies, and the long-term consequences of their gender-based restrictions on Afghan society. Historical Background Women in Afghanistan have experienced significant shifts in status and rights over the past century. In the early 20th century, King Amanullah Khan (1919–1929) promoted women’s education and discouraged veiling. His wife, Queen Soraya, was a key advocate for women’s rights. However, these reforms faced backlash, and subsequent rulers reversed many of them. During the 1960s and 1970s, urban Afghan women gained more rights, including access to education and employment. The 1964 constitution granted them the right to vote. However, the Soviet invasion (1979–1989) and ensuing civil war (1990s) disrupted these advancements. While the communist government promoted gender equality, the rise of mujahideen factions and later the Taliban (1996–2001) led to severe oppression—women were banned from working, attending school, and appearing in public without a male guardian. After the U.S.-led invasion in 2001, efforts to improve women’s rights gained traction. By 2021, millions of Afghan girls were attending school, and women were active in politics and the workforce. However, the Taliban’s return to power in August 2021 reversed many gains. Women were once again restricted from education beyond sixth grade, barred from many jobs, and required to follow strict dress codes. Afghan women have continually resisted oppression, with activists advocating for education and rights despite severe restrictions. Their struggle remains a central issue in Afghanistan’s ongoing political and social landscape. (International Journal), (UN women).                                                      Women’s Rights in Afghanistan Before 2001 Women in Afghanistan were not always restricted in their rights. In fact, Afghanistan was once considered one of the more progressive countries in the region regarding gender equality. Women were granted the right to vote as early as 1919, a milestone that placed Afghanistan ahead of many Western nations at the time. The 1964 Constitution further strengthened women’s rights, guaranteeing equal opportunities in education, employment, and politics. During the 1970s and early 1980s, Afghan women in urban areas, especially in Kabul, had access to higher education, and many worked as doctors, teachers, and government officials. However, these advancements were not universal. In rural areas, conservative traditions remained strong, and many families still kept women from pursuing education or working outside the home. Despite legal protections, the gap between urban and rural women’s experiences was stark.   The political shift in 1978, when the communist-backed People’s Democratic Party of Afghanistan (PDPA) took power, brought a wave of reforms aimed at modernizing Afghan society. The government encouraged women’s education and participation in the workforce, but these changes were met with resistance from conservative factions. Many saw the PDPA’s policies as an attack on traditional Afghan values, fuelling unrest that eventually led to the Soviet invasion in 1979. During the Soviet-Afghan War (1979-1989), women’s rights remained a deeply contested issue. While the Soviet-backed government continued promoting gender equality, the Mujahideen—Afghan resistance fighters who opposed Soviet rule—held much more conservative views. When the Mujahideen took control after the Soviet withdrawal, Afghanistan descended into civil war, and women’s freedoms were gradually stripped away. The situation worsened when the Taliban emerged victorious in 1996. Under their strict interpretation of Sharia law, women were completely removed from public life. They were banned from attending school, working, or even leaving their homes without a male guardian. The Taliban imposed a strict dress code, forcing women to wear the all-encompassing burqa, and those who disobeyed faced severe punishment, including public beatings and executions. In just a few years, decades of progress had been erased.  Changes Under the U.S.-Backed Government The fall of the Taliban in 2001, following the U.S.-led invasion, brought a new chapter for Afghan women. The new government, backed by international support, prioritized gender equality. The 2004 Constitution granted men and women equal rights, and efforts were made to rebuild Afghanistan’s education system, ensuring that girls could return to school. By 2011, approximately 2.7 million Afghan girls were enrolled in school, a dramatic increase from zero under Taliban rule. Women also re-entered the workforce, taking on roles in journalism, politics, and education. For the first time in decades, Afghan women held government positions, and a quota system was introduced to ensure female representation in parliament (Brookings Institution).                                                 Despite these achievements, challenges remained. Security threats, cultural opposition, and the ongoing war made it difficult for many women to exercise their rights, especially in rural areas. Women in public roles often faced threats and violence from extremist groups. While the government promoted gender equality, many Afghan families still followed traditional customs that limited women’s freedoms.                                       The situation of women after the Taliban In the last 3 years and 6 months after regaining power in Afghanistan, the Taliban, have created the world’s most serious women’s rights crisis. Afghan women and girls now face institutionalized gender apartheid, with restrictions on almost all spheres of normal life. The education ban has denied millions of Afghan girls the right to learn. Girls beyond sixth grade are barred from attending school and the Taliban has officially banned young women from attending universities. This ban has effectively removed women from formal education removing all their chances of being employable and reinforcing patriarchy. Along with the educational ban, there’s a ban on women from the workforce except few sectors like healthcare and primary educators. This has further intensified poverty as many

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February 15, 2025 No Comments
Sustainable Cities and Communities
Debolina Bhattacharyya

Socio-cultural Education, Corporate Responsibility and Government Regulations: Fostering Community-focused Ecotourism in the Indian Himalayan Region

This article explores sustainable ecotourism in the Indian Himalayan Region and presents policy recommendations to improve ecotourism practices, ensuring community welfare and cultural preservation. It promotes local empowerment and responsible travel to preserve Himalayan heritage through community-based tourism (CBT), corporate responsibility, and education.

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January 21, 2025 No Comments
FINANCE
Rangoli Anand

Sustainable Finance : The Rise Of Green Bonds

Sustainable finance prioritizes ESG factors in investments, aiming for both financial returns and positive societal as well as environmental impact. Green bonds, financing eco-friendly projects, are a key tool. While offering advantages, while challenges like greenwashing and standardization persist. The green bond market is expected to continue evolving.

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January 21, 2025 No Comments
International Relations
Vaibhav puri

Role of International Institutions in conflicting resolutions

INTRODUCTION: The Syrian Civil War, which began in 2011, stands as one of the most catastrophic conflicts of the 21st century, resulting in massive loss of life, widespread displacement, and a humanitarian crisis. The war has drawn in various international actors, thus increasing the complexity of the crisis and complicating the dynamics of conflict resolution and humanitarian intervention. Amidst this turmoil, the United Nations (UN) has played a central role, attempting to mediate peace talks, provide humanitarian aid, and uphold international law. Yet, the UN’s effectiveness in addressing the Syrian crisis has sparked considerable debate among scholars, policymakers, and humanitarian organizations. This research article aims to analyse the role of the United Nations in the Syrian Civil War, exploring its strategies, challenges, and the broader implications of its actions on the ground. RELEVANCE: This research on understanding the United Nations’ role in the Syrian Civil War is crucial for comprehending the complexities of international intervention in conflicts. By examining the UN’s strategies and the challenges it faces, this research provides important insights that can inform future peacekeeping and humanitarian initiatives in similar crises like the Ukrainian-Russian War. Additionally, it contributes to the broader discourse on the efficacy of diplomacy and mediation in resolving conflicts, especially as global governance contends with mounting pressures from national interests and geopolitical rivalries. RESEARCH OBJECTIVE: This paper evaluates the challenges faced by UN in facilitating the political resolution in Syria particularly, examining the influence of external powers, the fragmentation of conflicting parties and the implications of the constitutional committee’s stalled progress in the peace process. It specifically focuses on UN’s lack of enforcement mechanisms, the political deadlock within the United Nation Security Council (UNSC), and the challenges in ensuring the accountability for war crimes. THE ACCOUNTABILITY OF THE UNITED NATIONS IN ADDRESSING HUMAN RIGHTS VIOLATIONS DURING THE SYRIAN CIVIL WAR Major Human Rights Violations in the Syrian Civil War: The Syrian civil war has resulted in significant human rights violations and a substantial loss of life. According to the United Nations Human Rights Office, at least 306,887 civilians were killed between March 2011 and March 2021, representing about 1.5% of Syria’s pre-war population. Estimates of the total number of deaths, including combatants and non-civilians, vary. The Syrian Observatory for Human Rights reported approximately 617,910 deaths from March 2011 to March 2024. Widespread human rights abuses have marked the conflict. All parties involved have conducted unlawful attacks on civilians and civilian infrastructure, resulting in numerous deaths and injuries. The Syrian government, in particular, has been implicated in mass killings, torture, and the use of chemical weapons against civilian populations. The war has also led to a massive displacement crisis, with millions of Syrians forced to flee their homes, seeking refuge both within and outside the country. Analysis of the UN’s Accountability on War Crimes:For over 13 years, the government of Syria, its allies, and armed opposition groups have perpetrated countless attacks on civilians and civilian infrastructure, violating international law. Government forces have committed murder, torture, and sexual violence as a matter of state policy. All parties to the conflict continue to commit acts that may amount to war crimes and crimes against humanity, and repeated violations of ceasefires heighten the risk of recurrence of large-scale conflict. It remains unsafe for Syrians to return to their country. As various armed groups attempt to consolidate their control over territory in a fragmented Syria, civilians are facing indiscriminate hostilities and systematic human rights violations in Syria. Detention and disappearance are used by the government and other parties as a strategy to control and intimidate civilians, confirming ongoing patterns of crimes against humanity and war crimes. Despite the ICJ provisional measures order, the Syrian government continues to perpetrate enforced disappearance, torture, and ill-treatment against detainees and deliberately obstruct families’ efforts to learn the fate and whereabouts of their loved ones. The grave situation across Syria is partly a consequence of the UN Security Council’s (UNSC) inability to hold perpetrators accountable. Since 2013, the UNSC has passed dozens of resolutions on the situation in Syria; however, none have been fully implemented, and the Syrian government has directly violated many of them. Russia and China have jointly vetoed ten draft resolutions, and Russia has independently vetoed an additional eight, shielding Syria from international accountability. To close the accountability gap, on 21 December 2016, the UNGA established an International, Impartial, and Independent Mechanism to assist in the investigation and prosecution of perpetrators of atrocities in Syria. Several countries have initiated proceedings or convicted suspected Syrian perpetrators under universal jurisdiction. In June 2023, Canada and the Netherlands jointly initiated proceedings against Syria before the International Court of Justice (ICJ) concerning alleged violations of the Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment. On 16 November 2023, the ICJ issued provisional measures calling on the government of Syria to prevent acts of torture and other cruel, inhuman, or degrading treatment or punishment, and ensure its officials do not commit any acts of torture while preserving relevant evidence. [Un report by global center] United Nations Mediation in Syria: The UN mediation efforts are generally guided by preventive diplomacy, impartiality, and consensus-building among conflicting parties. Mediation efforts are complicated in situations like civil war; it becomes more challenging due to the fragmented nature of the parties involved (Becovitch and Jackson, “Conflict Resolution in Civil Wars”). The Geneva Process:The earliest attempt of the UN was the Geneva Process in 2012. The cornerstone of the initial mediation was the Geneva Communiqué, which was adopted at an international conference by Kofi Annan. This communiqué outlined a six-point plan for peace, which included measures aimed at de-escalating violence and paving the way for a political transition. The plan, introduced by then-UN-Arab League Special Envoy Kofi Annan in 2012, emphasized the following key points: Commitment to a Syrian-led political process: Syrian government and the opposition were urged by the United Nations to engage in an inclusive dialogue to resolve the conflict peacefully. Cessation of violence: All parties

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January 21, 2025 No Comments