Cash-in-Transit (CiT) Management has been one of the most challenging businesses in the world while remaining one of the most essential service as well, especially in these troubled times of pandemic.

Banks are engaging third party CiT providers to reduce costs and risks, which creates a new set of issues for banks. Tracking of such cash movement is fraught with risks of leakage and mismanagement at the field level. In some countries, there is additional risk of heists and robbery, leading to further losses. Overall, there is increased systemic risk and operational complexity.

Current challenges in CiT Services

Let us take a day in the…


Digital currencies are disrupting centuries old economic and monetary models since the introduction of Bitcoin and Blockchain technologies. Digital currencies offer numerous advantages over incumbent Central bank issued currencies. Official currencies are based on the assets of the economy, and their value depends upon supply and demand, which is controlled by sovereign central banks. The events of 2008 laid bare the limitations of official currencies and their usage as inefficient regulation and compliance wiped out billions of dollars of value, rendering millions to penury. It was in this background, that a mysterious Satoshi Nakamoto proposed the concept of blockchain and…


Background

In government, disbursement of funds under various centrally sponsored schemes is carried out through the appropriate ministry, state departments and implementing agencies, before reaching the actual beneficiaries.

The Problem Statement

To ensure timely and appropriate delivery of funds and services, its essential to track the services delivery and funds disbursement. This requires financial reconciliation of accounts on a daily basis and periodic physical and financial audit. However, Reconciliation is a very tedious and laborious task to tally each transaction across each stakeholder. Further, the transaction updates are susceptible to human error or Fraud risk. …


51% Crypto fraud can burst the cryptocurrency bubble

https://www.crypto51.app/about.html


Decentralized Computing

For the last fifty odd years, Computing has been centralized with applications running centrally and Data being stored on a Centralized server. While such application architectures have their benefits in terms of deployment and data integrity and all data transfers and transactions among users going through the centralized infrastructure, the flip side is the risk of cyber-attacks and the consequent data security. Hackers need to attack a single server to breach and data to steal. A DDOS attack on the single server can bring down user services, thus impacting enterprises and their users. …

Aurigraph

Realtime Enterprise DLT with Zero Latency and Cost. Realtime Reconciliation, Settlement and Audit for Enterprises using Triple-entry Accounting

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