“Mentor’s Comments”
- In the intro, mention growing global adoption of cryptocurrencies across the world.
- In the body, mention Indian government’s approach towards cryptocurrency. In the next part, mention the reason for its widespread adoption. Next, mention the advantages offered by the blockchain technology.
- Conclude by mentioning the need for regulation that would not stifle the growth of technology which holds the promise for the future.
@Swatantra sir… Answer for 3rd question
Hi. Read your answer. It was good. Did you write the answer after revision or based on old data from your memory? I mean, did you go through your notes before writing the answer?
Sanvi,
Your introduction is good but a bit complex. You can use simpler data like increasing cumulative market value of cryptocurrency or increasing number of users.
In the body part mention the official Indian response such as the RBI ban and SC overturn of RBI’s decision. Next you can mention some advantages too like decentralization, safe and secure etc along with growth in India. The question asks about blockchain technology also. Try putting some overall advantages.
Challenges part is okay.
You can mention regulation and not ban is the way forward as the question is specifically asking for it.
Conclusion can be separately written as you have done.
Read others’ good answers as well. Keep writing.
Please review
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Aabha,
Your introduction is too long. Also it is a bit irrelevant. The question is not asking what is cryptocurrency or what is blockchain? So no need to define in such detail.
The question asks whether India is too late in adopting? You can answer this by- 1)showing the status of adoption in other countries (whether they are too ahead?) 2)status of adoption in India.
So in introduction you can write about status of global adoption by quoting some data about increasing number of users, increasing value of bitcoin etc
In the body part, you have mentioned about the recent draft bill, that is good. Also try to mention about how RBI banned crypto and then SC overturned the ban.
Lastly we need to suggest a way forward. Since our way forward is regulating these technology and not total banning, we need to suggest some advantages of this technology also. So you can write advantages along with one or two drawbacks before writing the way forward.
All in all, you have made a decent attempt but there is scope for improving. Keep writing and we’ll improve together.
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Subhashree,
In the introduction part, instead of repeating the statement in question, you can use some data such as increase in value of bitcoin since its launch or increase in number of users to substantiate your point. If you don’t remember data, you can simply write that countries such as UK, Canada and Singapore have already regulated cryptocurrency whereas India is still undecided.
In the body part write 1-2 lines more about the current discourse on cryptocurrency to add some more depth to the answer. Write about the RBI-SC episode, RBI banned it, then SC lifted the ban.
Rest of the answer is good. You have written a separate way forward as well as conclusion. That is good. In advantages we can write 1-2 advantages of blockchain too as that is also mentioned in question.
Overall a good attempt. Read others’ answers too and keep writing.
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Vishnu,
You have touched upon most of the things asked in the question, but you need a bit more depth to the answer.
For e.g you need to mention the government approach towards cryptocurrency by writing 1-2 more lines. You can mention the RBI ban, the SC overturning of the ban and then the draft cryptocurrency bill 2021.
Also you need to structure the answer a bit better. The later part can be mentioned first as the question opens with whether or not you think India has been late, then you can mention some advantages/disadvantages and then write a way forward.
In introduction you can also write about increasing cryptocurrency use and/or status of regulation of cryptocurrency in other countries. No need to go into much depth, just 1-2 lines.
Overall, a decent attempt. Start trying to give sub-headings, underline etc. It will become a habit. Keep writing.
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Answer to 3rd question
Vivek,
You have written a good introduction. However, you have missed addressing some parts of the question in the body.
For e.g- you need to write about whether or not you think India has again been late in cryptocurrency/blockchain adoption. You can write about Indian official approach by mentioning the RBI ban, the SC overturning of the ban and then the draft cryptocurrency bill 2021.
This will add value to answer and also justify the confusion point you have written.
Advantages, issues and way forward are well written. Again,you can add 1-2 more lines in way forward by mentioning the need to take a leaf out of other country’s books such as UK, Canada and Singapore(they have already regulated).
Good attempt. Keep writing. Just try addressing all parts of the question.
Please review
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Sushmita,
You can add some data points in both the introduction and body to make the answer a bit more content rich. In introduction you can talk about increasing no. of users, increasing market value of cryptocurrency etc. Your Japan example is good. You can add one or two more countries.
In body also write about some more events such as the RBI ban and the SC overturning of the ban.
Rest of the answer is good. Also you can write a separate way forward for such questions as they are specifically asking for it. Writing way forward is generally also good in GS2 and 3 papers.
Try giving sub-headings. It will increase visibility.
Read others’ answers too. Keep writing.
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Santosh,
You have written a very generic answer. Try to understand the demand of the question. It is not asking you to write about advantages/ disadvantages of cryptocurrency and blockchain. It is asking what should be the approach of government regarding this technology- whether it should ban it, regulate it etc. You can use advantages/disadvantages to justify whatever you think is good for India.
Also write about what is the current approach of the government. You can use points such as RBI ban of cryptocurrency transactions, SC overturning the ban, draft cryptocurrency bill 2021 etc.
In the introduction also, you can shorten why India was late(very common points you have written) and write 1-2 lines about current status of adoption of cryptocurrency and blockchain across the world. You can write about its increasing use, increasing acceptance etc
Your way forward and conclusion is okay but try to address all parts of the question. Keep writing.
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Sakshi,
You have written a decent answer but you need to structure the answer better. Start by writing about increasing use and value of cryptocurrency in recent times. You can use the examples of countries there only. Avoid China. China has cracked down on cryptocurrency, neither it is a legal tender there, nor its banking system accepts cryptocurrencies. You can use examples such as Japan, UK, Singapore etc
Then write about status in India,RBI etc..you can mention the draft cryptocurrency bill 2021 as well, that will add value.
Your advantage, disadvantage and way forward is good. Just try to give separate sub headings to increase visibility.
Read some other answers also. Keep writing.
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Sumita,
You have written a good answer, however there are some issues. Shorten the introduction, it is too long and it also constrains your word limit for latter part of the answer. Specifically, you can omit the bitcoin launch-global financial crisis part, use some data about increasing acceptance to convey more in less words for e.g increasing market value data.
Also in India’s approach you can write about the draft cryptocurrency bill 2021, idea of central digital currency etc.
Concerns and way forward you have written aptly, add some exclusive advantages to justify your stand about regulation and not outright ban.
Start incorporating the use of sub headings, underlines etc. It increases visibility and also you will develop a habit in some time.
Keep writing. Best wishes.
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Utkarsha,
First of all try to write in 2 pages, UPSC provides 2 pages for 10 markers. Your use of diagrams is good but excessive use might give an impression of laziness to the examiner.
Also, there are some basic concerns of the question which you have totally missed. The must-haves in this answer are-
increasing adoption of cryptocurrency across the world(give some data like increasing value of bitcoin, acceptance in countries like Japan, UK etc)
approach of the current government towards cryptocurrency(RBI-SC episode, draft cryptocurrency bill 2021)
a way forward about what you think the approach should be(regulate and not total ban)
Justify your way forward by writing advantages as you have written.
Read some other answers to get a perspective. Keep writing as well.
pleasr review @Swatantra sir
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Deepali,
Your introduction is good, especially using data but try to shorten it. No need to write so much for a 10 marker. Avoid using generic statements like the last line before ‘issues’ part that you have written. It will also free up your word limit.
Next, write about Indian approach in 2-3 lines, SC didn’t ban it, it overturned the ban imposed by RBI. Also, write about draft cryptocurrency bill 2021, centralized digital currency etc
Question is also asking specifically about way forward, so you can write some concrete steps (like govt. should regulate and not outright ban) rather than writing just generic statements. You just need to substantiate your stand, so write some good advantages of the technology and it will do.
Read some other answers too and keep writing.
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Kartikey,
You need to address the first part of the question in a bit more detail. Write about increasing use of cryptocurrency globally and also compare India’s approach there only after introduction. You can write about RBI ban, SC lifting ban and then the draft bill as you have mentioned.
Your knowledge about advantage-disadvantage is good, use them to justify a properly worded way forward that regulation and not total ban is the way to go.
Question is specifically asking for a way forward, so give more space to it. You can cut down on threats if you feel word limit constraint.
Overall a decent attempt. Keep writing.
please review
#0000422529
Yash,
You have written a good answer. Some points are missing- in the introduction you can use some data(growing market value of crypto, countries accepting it etc) to show the growing acceptance of cryptocurrency/blockchain across the world.
Similarly, in the body mention about the recent draft cryptocurrency bill 2021. Also you can mention about RBI’s plan of central digital currency.
Rest of the answer is good. In the way forward, avoid mentioning China as it has recently cracked down on cryptocurrency.Japan, Singapore etc can be used.
Read some other answers as well. Keep writing.
Ref Id #0000416426
Please review
Rupesh,
Your introduction is good but it feels more like a repetition of the question statement. Use some examples or data to justify it(can mention growing market value of cryptocurrency or take examples of other countries who have regulated it).
Write advantages/disadvantages in one place only. No need to write features again,club them. Otherwise it gives a feeling that you are short on content and are deliberately trying to extend the answer.
Write 1-2 more lines about Indian response such as the RBI ban-SC lifting the ban, draft crypto bill 2021, mention of budget is good.
Give a separate way forward sub heading and write as the question is specifically asking for it.
Overall a good attempt, keep writing.
Ref_id# 422544
Anupam,
You have written a very generic answer. Try to understand the demand of the question. It is not asking you to write about advantages/ disadvantages of cryptocurrency and blockchain. It is asking what should be the approach of government regarding this technology- whether it should ban it, regulate it etc. So distribute the space accordingly.
You have completely overlooked the first part of the question. Mention something about how is India behind- you can compare by saying other countries like UK, Japan, Singapore etc have already regulated it while India has no clear cut policy. Use draft crypto bill 2021, and RBI-SC episode to show India’s approach.
Also write a properly worded way forward(regulate and not ban is the solution) as the question is specifically asking for it. Cut down on disadvantages if there is a word limit issue.
You have put in the hard work, just try to address all parts of the question. Keep writing.
Ref id 422329
@Swatantra sir technical issues please review
Vishal,
You have written the first part that ‘ why was India late’ in great detail. Although, it is good, it can be shortened in 1-2 points as it eats up the space for the later part of the answer.
You have almost missed the way forward. Question is specifically asking for it. Give 2-3 lines to it, you can write about regulation and not ban is the way to go, also about proposed RBI digital currency.
Also in the 2nd part you have used generic arguments to suggest that India is doing good in technology domain now-a-days but you need to be more specific about cryptocurrency and blockchain. Mention how RBI banned cryptocurrency and then SC overturned the ban. Draft crypto bill 2021 can also be mentioned to make the answer content rich.
Keep writing, just address all parts of the question.
@Swatantra sir, please consider my yesterday’s answer, as i couldn’t upload it because of the glitch.
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Mradul,
You have written a very good answer. Just be consistent and you will do very well.
Some minor changes- you can use examples of other countries to show the status of cryptocurrency to justify whether India is behind or not.
Also, you can talk about, the draft cryptocurrency bill 2021 instead of past budget, that will add recency to your answer, plans of digital currency adoption by RBI etc.
Rest is all good. You have understood the demands of the question. Keep writing.
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Shikhar,
Your introduction and the Indian approach till now are very well-written. However, the question specifically asks for a way forward to which your response is-‘calibrate its strategy as per global developments’-now that is a pretty generic statement. The examiner expects that you know the global developments and then suggest some concrete steps.
You can write about regulating and not banning is the way and substantiate your view with advantages of cryptocurrency. Also, you can take opposite view but you need to substantiate that as well with disadvantages.
Make these minor changes, otherwise your presentation and answer is good. Also, you can integrate both blockchain and cryptocurrency and write under one heading, with some space left for advantages.
Read others’ answers too. Keep writing.
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@Swatantra answer copy of Q3
Gauri Shankar,
You can write something about increase in global acceptance of cryptocurrency(cite some data on value, countries accepting etc) in the introduction to make it more impressive.
You have written steps taken in great detail, however they are a bit generic regarding all technology. Make it a bit specific by writing about cryptocurrency adoption- RBI ban, SC overturning the ban, draft crypto bill 2021 etc
You have argued for regulation and not total ban in the way forward, so write about some advantages too to make your argument stronger.
Structure of the answer is quite good. Keep writing.
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@Swatantra Please review
Deepanshu,
In the introduction you can start with some data point about increasing value of cryptocurrency, growing usage etc to convey more in less words. The current opening statement you have used is a bit vague.
Your body part is good, you can also write that SC overturned the ban imposed by RBI.
However, the main issue is about way forward. The question specifically asks for a way forward, but you have somewhat neglected it.
You can write that India should regulate and not totally ban and give some useful advantages of cryptocurrency/ blockchain to substantiate your argument. Alternatively, you can take an opposite view also if you are able to justify accordingly.
Address all parts of the question. Keep writing.
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Yamini,
You have written a very good answer. Just be consistent and you will do very well.
You can use examples of other countries to show the status of cryptocurrency to justify whether India is behind or not e.g Japan, UK etc
Hub and spoke diagram can be used in ‘why so famous’ part to reduce the bulkiness of the answer, whenever there is a danger of crossing word limit that is.
You have understood the demands of the question. Keep writing. Best wishes.
Kindly review
Ref no 0000420120
Rajlaxmi,
I think you have not understood some of the core demands of the question. It is not about how the block chain technology works.
First part needs you to write about whether or not India is behind other countries in adopting cryptocurrency/ blockchain. Write that RBI had banned cryptocurrency in India, then SC overturned the ban. Next you can write about the draft cryptocurrency bill 2021 which also proposes for a ban.
Also write that many countries have regulated it and they are already ahead.
In way forward you have written generic points. You need to write about what should India do–you can write that India should regulate and not totally ban this technology. You can justify it by suggesting some advantages as you have done.
You have put in the hard work. Just try to focus more on what the question is asking rather than what you know. Take help of the article mentioned in the question if you are short in content. Take your time to write. Slowly we will improve. Keep writing.
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