This is practice questions for mains, make utilize of this platform. Any queries or comments are welcome. One can point out in comment section or else can mail us futureofficers2020@gmail.com.
1. Discuss the importance and features of G-7 Nations and its relevance to India.
In News:
- US President Donald Trump is keen on expanding G7 to include India, Russia, South Korea and Australia and he had invited Prime Minister Narendra Modi to attend the G7 meeting this year.
G7 Nations:
- G7 or Group of Seven is Canada, France, Germany, Italy, Japan, USA and UK.
- It is an intergovernmental organization that was formed in 1975 by the top economies of the time as an informal forum to discuss pressing world issues.
- Initially formed as an effort by the US and its allies to discuss economic issues, the G7 forum has deliberated about several challenges over the decades such as oil crashes of the 1970s, the economic changeover of ex-Soviet Union bloc nations and many pressing issues such as financial crisis, terrorism, arms control and drug trafficking.
- The G7 does not have a formal constitution or fixed headquarters and the decisions taken by leaders during annual summits are non-binding.
- The rise of India, China and Brazil over the past few decades has reduced the G7’s relevance whose share in global GDP has now fallen to around 40%.
Relevance to India:
- India is both a military and economic giant but isn’t a part of G7 yet.
- China has emerged the new nemesis of US and to check on the rising influence of China as a global power, India’s membership to G7 has been recommended. By becoming a part of the group, India can have more voice and power in burning issues around the world and also to have smoother diplomatic relations with other members.
- Being the most influential grouping, with India’s inclusion, it will certainly be useful for India as well as the group as its present configuration no longer reflects global realities.
- There is an urgent need of democracies and other rules based regime to believe in fair trade and respect for intellectual property rights to come together.
2. Cryptocurrency is gaining the popularity. In light of it, explain the concept of crypto-jacking.
In News:
- Cryptocurrency is a digital asset stored on computerized databases. These digital coins are recorded in digital ledgers using strong cryptography to keep them secure.
- The practice of crypto-jacking is currently on the rise as the price of the asset is falling.
Crypto-jacking:
- The ownership of digital assets is cryptographically coded and the blockchain system enables transfer of ownership. To ensure it is used by only one entity, the distributed ledger accepts transaction performed by the first user, rejecting all other blocks.
- This way the same cryptocurrency can’t be used by two different entities, making a fool-proof financial system.
- Crypto-jacking is what some coin miners do to illegally gain access to many computers by stealthily dropping malware in the user’s pc.
How it works?
- Once installed, crypto mining code runs surreptitiously and turns devices into crypto-currency mining botnets.
- The mined digital assets are then stored in digital ledgers with unique code.
- It does not use victim’s data, but they drain the CPU’s resource which slow down the system, increases electricity usage and causes irreparable damage to the hardware.
- Hackers tend to prefer anonymous cryptocurrencies like Monero and Zcash over the more popular Bitcoin as it is harder to track illegal activity back to them on these platforms. The practice is more common in the recent days as the asset price is falling and to reduce the costs associated with mining, hackers resort to crypto-jacking.




