Bitcoin is born after the 2008 financial crisis. An economy built on a fiat currency system has a lot of problems, one such problem is the ability of the central bank to increase the money supply without any constraints. The gold standard was removed in the USA in 1971. The continuous money supply decreases the value of money, this is one reason for inflation. After the 2008 crisis FED bailed out all the big banks who caused the crisis and only the common people suffered the consequences. A monetary system without the need for central authority was only possible with real physical gold until then. But after Bitcoin, it was possible through a digital medium. So in a sense Bitcoin is digital gold. Every monetary system has a central authority to ensure trust between parties. In Bitcoin, the central authority is replaced by incorruptible software which is open source, permissionless, and accessible to everyone. Bitcoin is a network of people who come together and agree on a certain value of the currency used in the network, the native currency is also called Bitcoin. For example, in a country, all the people agree on the value of their native currency. The US monetary system is a network of people who agree on a certain value of their native currency, USD. Bitcoin has a lot of pros compared to a fiat currency, such as it is not controlled by any country, any company, or any person. All the users in the network have equal authority, access, and ownership of the network.

Centralized money has some inherent problems. Examples of these are devaluation of the Argentine Peso, demonetization of the Indian Rupee, Quantitative easing using USD, etc. Gold was a decentralized monetary system. There was no central authority controlling it, everyone in the world was part of the network of gold. Still today gold is a part of the reserves of countries and Central banks. The invention of Bitcoin was possible due to the existing technologies of personal computers and the internet. Before these inventions, there was no point in time when humans were able to communicate with anyone from all around the world. Cryptography and Blockchain technology is the basis of Bitcoin. Bitcoin is secured using cryptography and the ledger keeping is done through blockchain. Bitcoin enables the transfer of value all over the world in a trustless permissionless manner. This was seen when all the traditional monetary infrastructure in Ukraine and down during the war. This is also seen in Russia when the US and Europe froze all monetary transactions systems through sanctions. Bitcoin is politically neutral.

Ethereum is also a crypto network, ETH is the native currency of the network. Ethereum brought in programmability to the blockchain. Until then crypto can be used only as a currency for transferring value. The programmability of blockchain is called Smart contracts. They are similar to contracts but a third party is not required to enforce the contract, software is replacing the third party. So Ethereum can do everything the bitcoin network can do and more in terms of smart contracts. This is what makes Ethereum the second most popular crypto network in terms of users and Market capitalization. But Ethereum was not built perfectly from the beginning. Currently, it is facing a lot of issues. Three major problems a crypto network trying to solve are Scalability, security, and decentralization. This is called the blockchain trilemma. Ethereum in its current state is facing problems with scalability. It does not support higher transaction volume and as a result, has higher transaction costs. So new crypto projects are coming up solving some problems of Ethereum and focusing on particular niches. That is all the other Layer one crypto protocols. Layer one protocols are independent crypto networks with their own unique features, users, and consensus mechanisms. The native crypto of a network is usually mentioned as a coin. For example, BTC is the coin in bitcoin, ETH is the coin in Ethereum, ADA is the coin in Cardano, LUNA is the coin in Terra, etc. Within a crypto network, we can create another crypto, these are usually mentioned as tokens. For example, UNI is a token of Uniswap (DEX) in Ethereum, CAKE is a token of Pancakeswap (DEX) in Binance Smart Chain, and SAND is a token of Sandbox (Game) in Ethereum, etc.

Programmability in crypto made applications possible, these applications are also decentralized, so they are called decentralized applications or DAPPS in short. All the applications we use today are centralized, they are controlled by a company or a person. This centralization is a vulnerability, making a single point of failure for these applications. For example, if Google and AWS are stopped by the US government, the impact will be seen worldwide. Our technologies are at a point where this vulnerability can be solved through dapps. The most successful and widely used dapps are in DeFi or Decentralized Finance. First, crypto replaced centralized money and now it is replacing traditional financial institutions with DeFi. Decentralized social media is another application of crypto. Currently, all the social media platforms are controlled by a few people to propagate information of their choice. Freedom of speech is seriously being violated on these platforms, people are being canceled and de-platformed every day for not complying with the common narratives. Decentralization will become a necessity in all the applications we use, this decentralized future is called the WEB-3. Currently, we are using WEB-2.

Any new technology is faced with ignorance and skepticism by us because we don’t like change. This was seen with IC engine cars, computers, the internet, smartphones, electric cars, and now crypto. The best comparison for Crypto is the internet in the 2000s. No one was able to comprehend the potential of the internet back then. Today the biggest three companies in the world are based on the internet — Google, Amazon, Facebook. Similarly, the potential of crypto as technology is immense and incomprehensible for us now. We are all very early to crypto and this is where the opportunity lies. Only less than 4% of the world population is aware of crypto, among them, only a few are looking at crypto as a technology rather than an asset to invest in.

We are in dire need of a community to learn, teach and grow together. A community of exceptional individuals who are visionaries, who can see the potential future of Cryptoverse, who are ready to take a leap of faith into the future of possibilities. This need is what gave birth to the GIG (Great Indian Gurukul) Project. GIG is designed to be an exclusive community in the Indian Cryptoverse. The exclusivity is ensured by NFTs, which acts as access tokens for membership, which are distributed during Phase-1 of the project. The power of a network of like-minded people is immense. No matter how strong, wise and wealthy we are as an individual, our potential is limited, but our potential as a part of a network is exponential. We as a community can create a ripple in the fabric of space-time in the upcoming years.

Bitcoin is born after the 2008 financial crisis. An economy built on a fiat currency system has a lot of problems, one such problem is the ability of the central bank to increase the money supply without any constraints. The gold standard was removed in the USA in 1971. The continuous money supply decreases the value of money, this is one reason for inflation. After the 2008 crisis FED bailed out all the big banks who caused the crisis and only the common people suffered the consequences. A monetary system without the need for central authority was only possible with real physical gold until then. But after Bitcoin, it was possible through a digital medium. So in a sense Bitcoin is digital gold. Every monetary system has a central authority to ensure trust between parties. In Bitcoin, the central authority is replaced by incorruptible software which is open source, permissionless, and accessible to everyone. Bitcoin is a network of people who come together and agree on a certain value of the currency used in the network, the native currency is also called Bitcoin. For example, in a country, all the people agree on the value of their native currency. The US monetary system is a network of people who agree on a certain value of their native currency, USD. Bitcoin has a lot of pros compared to a fiat currency, such as it is not controlled by any country, any company, or any person. All the users in the network have equal authority, access, and ownership of the network.

Centralized money has some inherent problems. Examples of these are devaluation of the Argentine Peso, demonetization of the Indian Rupee, Quantitative easing using USD, etc. Gold was a decentralized monetary system. There was no central authority controlling it, everyone in the world was part of the network of gold. Still today gold is a part of the reserves of countries and Central banks. The invention of Bitcoin was possible due to the existing technologies of personal computers and the internet. Before these inventions, there was no point in time when humans were able to communicate with anyone from all around the world. Cryptography and Blockchain technology is the basis of Bitcoin. Bitcoin is secured using cryptography and the ledger keeping is done through blockchain. Bitcoin enables the transfer of value all over the world in a trustless permissionless manner. This was seen when all the traditional monetary infrastructure in Ukraine and down during the war. This is also seen in Russia when the US and Europe froze all monetary transactions systems through sanctions. Bitcoin is politically neutral.

Ethereum is also a crypto network, ETH is the native currency of the network. Ethereum brought in programmability to the blockchain. Until then crypto can be used only as a currency for transferring value. The programmability of blockchain is called Smart contracts. They are similar to contracts but a third party is not required to enforce the contract, software is replacing the third party. So Ethereum can do everything the bitcoin network can do and more in terms of smart contracts. This is what makes Ethereum the second most popular crypto network in terms of users and Market capitalization. But Ethereum was not built perfectly from the beginning. Currently, it is facing a lot of issues. Three major problems a crypto network trying to solve are Scalability, security, and decentralization. This is called the blockchain trilemma. Ethereum in its current state is facing problems with scalability. It does not support higher transaction volume and as a result, has higher transaction costs. So new crypto projects are coming up solving some problems of Ethereum and focusing on particular niches. That is all the other Layer one crypto protocols. Layer one protocols are independent crypto networks with their own unique features, users, and consensus mechanisms. The native crypto of a network is usually mentioned as a coin. For example, BTC is the coin in bitcoin, ETH is the coin in Ethereum, ADA is the coin in Cardano, LUNA is the coin in Terra, etc. Within a crypto network, we can create another crypto, these are usually mentioned as tokens. For example, UNI is a token of Uniswap (DEX) in Ethereum, CAKE is a token of Pancakeswap (DEX) in Binance Smart Chain, and SAND is a token of Sandbox (Game) in Ethereum, etc.

Programmability in crypto made applications possible, these applications are also decentralized, so they are called decentralized applications or DAPPS in short. All the applications we use today are centralized, they are controlled by a company or a person. This centralization is a vulnerability, making a single point of failure for these applications. For example, if Google and AWS are stopped by the US government, the impact will be seen worldwide. Our technologies are at a point where this vulnerability can be solved through dapps. The most successful and widely used dapps are in DeFi or Decentralized Finance. First, crypto replaced centralized money and now it is replacing traditional financial institutions with DeFi. Decentralized social media is another application of crypto. Currently, all the social media platforms are controlled by a few people to propagate information of their choice. Freedom of speech is seriously being violated on these platforms, people are being canceled and de-platformed every day for not complying with the common narratives. Decentralization will become a necessity in all the applications we use, this decentralized future is called the WEB-3. Currently, we are using WEB-2.

Any new technology is faced with ignorance and skepticism by us because we don’t like change. This was seen with IC engine cars, computers, the internet, smartphones, electric cars, and now crypto. The best comparison for Crypto is the internet in the 2000s. No one was able to comprehend the potential of the internet back then. Today the biggest three companies in the world are based on the internet — Google, Amazon, Facebook. Similarly, the potential of crypto as technology is immense and incomprehensible for us now. We are all very early to crypto and this is where the opportunity lies. Only less than 4% of the world population is aware of crypto, among them, only a few are looking at crypto as a technology rather than an asset to invest in.

We are in dire need of a community to learn, teach and grow together. A community of exceptional individuals who are visionaries, who can see the potential future of Cryptoverse, who are ready to take a leap of faith into the future of possibilities. This need is what gave birth to the GIG (Great Indian Gurukul) Project. GIG is designed to be an exclusive community in the Indian Cryptoverse. The exclusivity is ensured by NFTs, which acts as access tokens for membership, which are distributed during Phase-1 of the project. The power of a network of like-minded people is immense. No matter how strong, wise and wealthy we are as an individual, our potential is limited, but our potential as a part of a network is exponential. We as a community can create a ripple in the fabric of space-time in the upcoming years.