< Daily Current Affairs & Important Editorials

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Sindhudurg Fort

GS- I >> History>> Location

Context: Indian Navy will conduct ‘Operational Demonstration’ covering naval operations by the ships and aircraft at Sindhudurg Fort.

About Sindhudurg Fort (means ‘Sea Fort’):

• Historical fort that occupies an islet in Arabian Sea, off the coast of Malvan town, Maharashtra.
• Built by Maratha Ruler Chhatrapati Shivaji.
• Its construction began in 1664 and was completed after 3 years.
• Its main entrance is concealed in such a way that no one can locate it from outside.
• Fort houses a handprint and a footprint of Shivaji Maharaj etc.

Source: pib.gov.in

Lithuania

GS- I >> Geography>> Mapping

Context: India and Lithuania held a meeting to strengthen maritime bilateral relations.

About Lithuania:

Political features:

• Location: Located in northeastern Europe, the southernmost and largest of the three Baltic states (other two Estonia, and Latvia).
• Boundaries: Latvia to the north, Belarus to the east and south, Poland and the detached Russian blast of Kaliningrad to the southwest, and the Baltic Sea to the west.

Geographical features:

• Important rivers: Nemunas River
• Largest lake: Lake Drūkšiai
• Highest point: Aukstojas Hill
• Language: Lithuanian is considered the oldest surviving Indo-European language in the world.

Source: newsonair.gov.in

Golan Heights

GS- II >> International Relations>> West Asia

Context: India voted in favour of a draft resolution in the United Nations General Assembly (UNGA) concerning the Israeli withdrawal from the Syrian Golan.

About Golan Heights:

• Rocky plateau, 1,800km², Israel-Syria border.
• 1967: Israel occupied Golan Heights, West Bank.
• 1973: Syria attempted to retake, but defeated.
• Armistice signed in 1974, UN observer force.
• 1981: Israel permanently acquired Golan Heights.
• Status: International community sees as disputed territory.
• Negotiation attempts between Israel and Syria failed.

Source: www.thehindu.com

Web3

GS- III >> Science & Technology>> Information Technology

Context: ‘Unlocking the Web3 Potential’ report released by Primus Partners

About Web3:

• Web3 is described as future of the internet, it includes cryptocurrencies, Non-Fungible Tokens, Decentralized Autonomous Organizations (DAOs), and more.
• It provides a version of the web where users have a financial stake and more control over the web communities they belong to.
• Web 1 also called the Static Web, enabled easy access to information.
• Web 2 built on advancements in web technologies, enabled interactive platforms e.g., Facebook etc.

Key findings:

• In 2022, India held 11% of the global Web3 developer pool, ranked 3rd worldwide.
• Web3 sector is projected to create 2.2 million direct jobs in India in next decade.

Application of Web3:

• Decentralized Finance: Open access to financial services without intermediaries.
• Asset Tokenization: Convert physical/digital assets into digital tokens offering fractional ownership, liquidity, etc.
• Digital Identity and Ownership: Secure maintenance of ownership of digital identity.
• Metaverse: Create an immersive, inter-connected virtual experience.

Recommendations:

• Recognize Web3 as a separate vertical under Startup India.
• Global emphasis on coordinated monitoring and enforcement.
• Identify primary regulator and define licensing and registration requirements.
• Establish regulatory sandboxes, etc.

Source: www.thehindubusinessline.com