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A brief history of Bitcoin

Bitcoin is the world’s leading cryptocurrency. It is a peer-to-peer currency and a system of transactions based on a decentralized consensus-based public ledger called a blockchain that records all transactions.
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Now, Bitcoin was conceived by Satoshi Nakamoto in 2008, but it is the product of many decades of research into cryptography and blockchain, and not just the work of one man. The utopian dream of cryptographers and free trade advocates was to have a decentralized currency without borders based on blockchain. Their dream is now a reality with the growing popularity of bitcoin and other altcoins around the world.
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Now, the cryptocurrency was distributed for the first time through a blockchain based on consensus in 2009, and in the same year it was traded for the first time. In July 2010, the price of bitcoin was only 8 cents, and the number of miners and knots was quite smaller compared to tens of thousands currently.

Within a year the new alternative currency had risen to $ 1 and was becoming an interesting prospect for the future. Mining was relatively easy and people made good money by earning trades and even paying with it in some cases.

Within six months, the currency doubled again to $ 2. Although the price of bitcoin is not stable at a certain price point, it has been showing this pattern of insane growth for some time. In July 2011, at one point, the coin went crazy and reached a record high price of 31 US dollars, but the market soon realized that it was overvalued in relation to the profit made on the field and returned it to 2 dollars.

December 2012 saw a healthy rise to $ 13, but the price will soon explode. Within four months of April 2013, the price had risen to a staggering $ 266. It later corrected back to $ 100, but this astronomical price increase became a star for the first time and people started discussing the real-world scenario with Bitcoin.

Around that time, I was introduced to the new currency. I doubted, but as I read more about it, the more it became clear that the currency was the future, because there was no one to manipulate it or impose itself on it. Everything had to be done with complete consensus and that is exactly what made him so strong and free.

Thus, 2013 was a revolutionary year for the currency. Large companies began to publicly favor the acceptance of bitcoin and blockchain became a popular topic for IT programs. Many people back then thought that bitcoin served its purpose, and now it will calm down.

But the currency became even more popular as bitcoin ATMs were set up around the world and other competitors began to strain their muscles at different market angles. Ethereum developed the first programmable blockchain, and Litecoin and Ripple began as a cheaper and faster alternative to bitcoins.

The magic figure of $ 1,000 was first broken in January 2017 and has since quadrupled by September. It’s a really remarkable achievement for a coin that was only worth 8 cents for just seven years.

Bitcoin even survived hard fork on August 1, 2017 and has since risen by almost 70%, while even fork bitcoin cash has managed to achieve some success. It’s all because of the attraction of the coin and the stellar blockchain technology behind it.

Although conventional economists claim that it is a bubble and that the whole crypto world would collapse, this is simply not the case. There is no such bubble, as it is a noticeable fact that he actually ate the shares of fiat currencies and corporations with money transactions.

The future is extremely important for bitcoin and it is never too late to invest in it, both in the short and long term.

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How Blockchain can fight blood diamonds

One of my biggest desires for Africa is to start aggressively solving our own problems using emerging technology. I firmly believe that the next generation of problem solutions and innovative thinkers are well equipped to implement custom solutions on the continent. Ideally, these solutions would stop the cycle of poverty and corruption.
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When it comes to the diamond industry, there is no better time than now for new technology to be used to solve the long-standing problem of digging conflict. By using Blockchain, we could eradicate unethical and powerful mining of diamonds and other precious metals, which are often controlled by rebel forces. According to various studies, these rebel forces can earn from 3 to 6 million dollars a year from blood diamonds. What is discouraging is that much of the forced labor is imposed on young and innocent civilians. Mainly in countries like the Democratic Republic of Congo, Sierra Leone, Angola and the Central African Republic.
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These rebel forces can earn from 3 to 6 million dollars a year from blood diamonds.

Finding the origin of diamonds has never been an easy or immediate process, and for hundreds of years dishonest people have managed to exploit holes to their advantage.
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The good news is that the development of technology in the last few decades has introduced better ways of processing information. My belief is that Blockchain technology is a proactive way to strengthen transparency and trust in the diamond industry. I will explain how below. (If you are unfamiliar with the technology, this article provides a little more background)
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One of the leading systems that comes to mind is TrustChain. Unlike many other Blockchains, this one is an “attack with a majority of 51 percent” because it introduces a third party into the signing of each block. This provides “Proof of Confidence”.
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Blockchain hacking

If you are wondering what that means, it refers to this popular question; “Are Blockchains really hackable?”
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The fact is that it is incredibly difficult to hack any Blockchain. Hacking any block would mean hacking each previous and next block before the next block is formed. This becomes exponentially difficult to perform as the chain of blocks grows.

However, this does not mean that hacking is impossible. An individual or group of hackers could gain control if they can hack most of the network’s scatter rate to revise transaction history, which would prevent new transactions from being validated on the Blockchain. Although such an attack is very unlikely and extremely difficult to execute, it is encouraging to know that systems like TrustChain are designed to completely eliminate this possibility.
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Improved Kimberley process

The Kimberley Process was enacted in 2000 by the UN to combat the exchange of conflicting diamonds. The problem is that it is still a solution on paper that relies on certifications and the merchant community. Although the initiative aimed to do good, it does not eradicate the possibility of malicious activities within trade communities. What makes Blockchain different is that it leaves no room at any level for corruption or bribery by people. Trust is built into the system, and transactions are open and transparent. No government or system administrator can randomly issue certificates or change information. The nature of the Blockchain architecture is to create a distributed book in which transactions are recorded chronologically and secured using advanced cryptography … making it almost impossible to edit existing data.
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Diamond data

Because diamonds have very unique elements as they are created, each transaction would be equally unique. Transactions would record the unique fingerprint of each stone, including its color, carat and clarity, serial number, as well as how much each stone was sold at each touch point. We could follow every step of selling diamonds on Blockchain.
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Cutting the Middle Man

Diamond suppliers often rely on several intermediaries to move diamonds around the world. Eg. Accountants, government officials, lawyers, banks, dealers, etc. The introduction of this technology in the industry would mean that intermediaries will play a less important role in the process, leaving no room for mistakes or corruption.
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The future shines brightly like a diamond.

To summarize, it is clear that diamond blockchains are a major milestone in this industry. Organizations like IBM, De Beers, TrustChain and Everledger are jumping on the blockchain. If jewelers, individuals and other large corporations follow it, it can force conflict mines to fall out of the way. This would drastically reduce the profitability of those who sell blood diamonds, which could later lead to the end of the blood diamond era.
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Disclaimer: I am not affiliated in any way with the companies and organizations mentioned in this article. You are simply passionately solving the relevant problems of Africa with the help of Blockchain. Below are some links to the mentioned companies.

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Blockchain wins big in Switzerland and Hong Kong

Blockchain’s claim to fame is Bitcoin. While this is perhaps the most well-known application, interest in the technology continues to spread as countries like Switzerland and Hong Kong get involved.
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Outside of Bitcoin

Blockchain offers a multitude of applications in a variety of industries, and its unchanging and decentralized nature, which makes it almost robust, represents a major advantage in handling a significant amount of data during elections across the country. In fact, Swiss tax haven Zug is currently working on using a blockchain to record votes. The municipality of Zug doesn’t just want to become the blockchain capital; it is also among the first administrations to express interest in launching a blockchain-based vote.
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The municipality has completed its first trial, which included people who voted via their smartphones and the city’s new electronic ID system. The trial ended on June 25.
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“The premiere was a success,” communications chief Zug Dieter Müller, a Swiss news agency, was quoted as saying by Fortune. There were not that many participants, but for those who participated the whole process was easy. The next will be a technical analysis of how the trial went because this is the most common issue in electronic voting. The Holy Grail of electronic voting will be a system that allows for revision, but will still preserve the anonymity of individuals. Some believe that blockchain may be just the right answer.
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Hong Kong wants to be the international hub of the blockchain
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The Hong Kong Securities and Futures Commission (SFC) said in its annual report that they intend to closely monitor cryptocurrencies and initial coin offerings (ICOs). The oversight team also noted that the new technology carries risks so they plan to intervene if necessary. Although the SFC has taken steps to create a more defined policy against ICOs and local crypto-accounts – warning people of possible risks – Hong Kong has also continued to foster financial, cross-border blockchain-based initiatives. In fact, the region is constantly gaining a reputation as an international blockchain hub.
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As an autonomous territory of China, Hong Kong operates with a separate political system that also extends to its local economy. This means that the city does not access crypto-technology in the same way as China. Several crypto-connected companies moved to the region after the Chinese action. At about the same time in September 2017, Hong Kong expressed support for the blockchain. It has a relatively friendlier attitude towards technology compared to China.
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What is an ICO in cryptocurrency?

ICO stands for Initial Coin Offering. When launching a new cryptocurrency or crypto-token, developers offer investors a limited number of units in exchange for other major cryptocurrencies, such as Bitcoin or Ethereum.

ICOs are amazing tools for the rapid rain of development funds to support new cryptocurrencies. Tokens offered during the ICO can be sold and traded on cryptocurrency exchanges, provided there is sufficient demand for them.

Ethereum ICO is one of the most notable successes, and the popularity of initial coin offerings is growing as we talk.

A brief history of the ICO

Ripple is probably the first cryptocurrency to be distributed through ICOs. In early 2013, Ripple Labs began developing the Ripple payment system and generated approximately 100 billion XRP tokens. They were sold through the ICO to fund the development of the Ripple platform.

Mastercoin is another cryptocurrency that sold several million tokens for Bitcoin during the ICO, also in 2013. Mastercoin aimed to tokenize Bitcoin transactions and execute smart contracts by creating a new layer on top of the existing Bitcoin code.

Of course, there are other cryptocurrencies that have been successfully funded through the ICO. Back in 2016, Lisk raised about $ 5 million during their initial coin offering.

Still, the Ethereum ICO held in 2014 is probably the most prominent so far. During their ICO, the Ethereum Foundation sold ETH for 0.0005 Bitcoins, raising nearly $ 20 million. Leveraging the power of smart contracts, Ethereum has paved the way for the next generation of initial coin offerings.

ICO Ethereum, a recipe for success

Ethereum’s smart contract system has implemented the ERC20 protocol standard that sets out the basic rules for creating other matched tokens that can be transported on Ethereum’s blockchain. This allowed others to create their own tokens, in line with the ERC20 standard, which can be traded for ETH directly on Ethereum’s network.

DAO is a notable example of the successful use of Ethereum smart contracts. The investment company raised $ 100 million in ETH, and the investors received DAO tokens in exchange that allow them to participate in the management of the platform. Unfortunately, DAO failed after being hacked.

Ethereum ICO and their ERC20 protocol highlighted the latest generation of blockchain-based crowdfunding projects through Initial Coin Offerings.

It also made it easier to invest in other ERC20 tokens. Simply transfer ETH, paste the contract into your wallet and new tokens will appear in your account so you can use them as you wish.

Obviously, not all cryptocurrencies have ERC20 tokens living on Ethereum’s network, but almost any new blockchain-based project can trigger an initial coin offering.

The rule of law of the ICO

As for the legality of the ICO, there’s a bit of a jungle out there. In theory, tokens are sold as digital goods, not as financial assets. Most jurisdictions have not yet regulated ICOs, so assuming the founders have a seasonal lawyer on their team, the entire process should be paperless.

Nevertheless, some jurisdictions have become aware of ICOs and are already working on their regulation in a similar way as the sale of shares and securities.

Back in December 2017, the US Securities and Exchange Commission (SEC) classified ICO tokens as securities. In other words, the SEC was preparing to stop ICOs that they believe are misleading investors.

There are cases where the token is just a service token. This means that the owner can easily use it to access a particular network or protocol, in which case it may not be defined as financial security. Nevertheless, proprietary tokens whose purpose is to assess value are quite close to the concept of security. Truth be told, most symbol purchases are made specifically for investment purposes.

Despite the efforts of regulators, ICOs remain in the gray legal area and until a clearer set of regulations is imposed, entrepreneurs will try to benefit from initial coin offerings.

It is also worth mentioning that when regulations reach their final form, the costs and efforts required to comply can make ICOs less attractive than conventional financing options.

Closing remarks

For now, ICOs remain an amazing way to fund new crypto-related projects, and there have been more successful ones with even more.

However, keep in mind that everyone today runs ICOs and many of these projects are fraudulent or lack the solid foundations they need to thrive and return on investment. For this reason, you should definitely thoroughly research and research the team and background of any crypto project you may want to invest in. There are several websites that list ICOs, just search on Google and you will find some options.

Cryptocurrencies and tax challenges

Cryptocurrencies have been in the news recently because tax authorities believe they can be laundered and tax evaded. Even the Supreme Court has appointed a Special Investigation Team for Black Money to discourage trading in such currency. Although China has reportedly banned some of its largest bitcoin trading operators, countries like the US and Canada have laws restricting trading in cryptocurrency stocks.

What is a cryptocurrency?

Cryptocurrency, as the name suggests, uses encrypted codes to execute the transaction. These codes are recognized by other computers in the user community. Instead of using paper money, the online ledger is updated with the usual ledgers. The buyer’s account is debited, and the seller’s account is posted in that currency.

How are cryptocurrency transactions executed?

When a transaction is initiated by a single user, its computer sends a public code or public key that communicates with the private code of the person receiving the currency. If the recipient accepts the transaction, the initiating computer attaches a piece of code to a block of several such encrypted codes known to each user on the network. Special users called ‘Miners’ can attach additional code to a publicly shared block by solving a cryptographic puzzle and earn more cryptocurrencies in the process. Once the miner confirms the transaction, the record in the block cannot be changed or deleted.

For example, BitCoin can also be used on mobile devices to make purchases. All you need to do is allow the receiver to scan the QR code from the app on your smartphone or connect them face to face using the Near Field Communication (NFC) function. Note that this is very similar to regular online wallets such as PayTM or MobiQuick.

Hard users swear by BitCoin because of its decentralized nature, international acceptance, anonymity, transaction durability, and data security. Unlike paper currency, no Central Bank controls inflationary pressures on cryptocurrencies. Transaction books are stored in the Peer-to-Peer network. This means that all computer chips in their computing power and copies of databases are stored on each such node in the network. On the other hand, banks store transaction data in central repositories that are in the hands of private individuals hired by the firm.

How can cryptocurrency be used for money laundering?

The very fact that central banks or tax authorities do not control cryptocurrency transactions means that transactions cannot always be labeled by a particular individual. This means that we do not know whether the transferor has legally acquired the value store or not. The transaction trade is similarly suspicious because no one can say what fee was taken for the currency received.

What does Indian law say about such virtual currencies?

Virtual currencies or cryptocurrencies are usually considered software parts and are therefore classified as goods under the Sale of Goods Act 1930.

As a good, indirect taxes on their sale or purchase, as well as a tax on services provided by miners, would be applicable to them.

There is still considerable confusion about whether cryptocurrencies are valid as a currency in India, and the RBI, which has jurisdiction over clearing and payment systems and prepaid transferable instruments, has certainly not approved buying and selling through this medium of exchange.

Any cryptocurrency received by a resident of India would thus be accepted under the Foreign Exchange Management Act 1999 as an import of goods into this country.

India has allowed bitcoin trading in special exchanges with built-in safeguards for tax evasion or money laundering activities and the implementation of the “Meet Your Customer” norms. These exchanges include Zebpay, Unocoin and Coinsecure.

For example, those who invest in BitCoins are required to collect dividends received.

Capital gains from the sale of securities involving virtual currencies are also taxed as income and the consequent online filing of IT applications.

If your investments in this currency are large, it is better to get the help of a personalized tax service. Internet platforms have greatly facilitated the tax harmonization process.

Everything you need to know about using Litecoin

Litecoins are a form of cryptocurrency that has become increasingly popular in response to the demand for alternative currency options by consumers around the world. This currency acts similarly to standard world currencies. Traders and investors have realized the great potential that this currency offers, and it is highly traded with both beginners and seasonal investors. The best way to get the most out of Litecoin stores is to use the services of a Litecoin broker. There are numerous Litecoin brokers available who have an excellent reputation for providing superior service to their clients. These brokers will be able to help traders make good decisions about their investments.

When you hire a good Litecoin broker, they will have a number of tools and resources at their disposal to ensure that your trading goes smoothly. Perhaps the most used tool of these brokers is the Litecoin news supplement. This widget can be completely customized to your specific needs. It will provide constant updates on cryptocurrency news and other relevant information, so you will be up to date with the latest news when it is published on the strings. The following will give an insight into what exactly that cryptocurrency is and how it can be used and obtained by trading for it.

What are Litecoin?

Litecoins are a form of virtual currency that can be obtained and used to buy and sell a variety of services and products such as jewelry, clothing, food and electronics. Because this currency is used only online, its value is determined by the demand on currency trading sites. This cryptocurrency can be traded or mined. When digging up currency, the process can be a daunting task. Computers solved mathematical equations and were rewarded as a result. Almost any good computer can deal in currency, but statistically the chances of success are small and it can take days just to make a few coins.

The difference between Litecoin and Bitcoin

The main difference is that Litecoins can be bought much faster than Bitcoin, and their limit is set at 84 million, while the Bitcoin limit is only 21 million compared. Bitcoins are accepted in more online stores, but Litecoin is growing in popularity every day. The currency is decentralized, so this is a big advantage for traders. The cost is predicted to be lower than the cost of bitcoin, as the cryptocurrency becomes wider.

Which cryptocurrencies are good to invest in?

This year, the value of Bitcoin has risen, even after one ounce of gold. There are also new cryptocurrencies on the market, which is even more surprising that it brings cryptocurrencies worth more than one hundred billion. On the other hand, the longer-term outlook for cryptocurrencies is somewhat blurred. There is disagreement due to the lack of progress among major developers, which makes it less attractive as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market cap with about $ 41 billion and has existed for the past 8 years. Bitcoin is widely used around the world and so far it is not easy to exploit weaknesses in the way it works. Both as a payment system and as a stored value, Bitcoin allows users to easily receive and send bitcoin. The blockchain concept is the foundation on which Bitcoin is based. You need to understand the blockchain concept to get an idea of ​​what cryptocurrencies are all about.

Simply put, a blockchain is a database distribution that stores each network transaction as a block of data called a “block”. Every user has blockchain copies so when Alice Marku sends 1 bitcoin, every person online knows it.

Litecoin

One of the alternatives to Bitcoin, Litecoin is trying to address many of the issues that keep Bitcoin. It’s not quite as resilient as Ethereum with its value stemming mostly from the adoption of solid users. It is worth noting that Charlie Lee, a former Googler, runs Litecoin. He also exercises transparency of what he does with Litecoin and is quite active on Twitter.

Litecoin has been Bitcoin’s second fiddle for a while, but things started to change in early 2017. Litecoin first adopted Coinbase along with Ethereum and Bitcoin. Further, Litecoin fixed the Bitcoin problem by adopting separate witness technology. This gave him the capacity to reduce transaction costs and do more. The deciding factor, however, was when Charlie Lee decided to focus his only focus on Litecoin and even left Coinbase, where he was director of engineering, for Litecoin only. As a result, the price of Litecoin has risen in recent months, and its strongest factor was the fact that it could be a real alternative to Bitcoin.

Ethereum

Vitalik Buterin, a superstar programmer, came up with Ethereum, which can do everything Bitcoin can do. However, its purpose is primarily to be a platform for building decentralized applications. There are differences between the two in the blocks. Basically, a Bitcoin blockchain records a contract type, which specifies whether funds have been moved from one digital address to another. However, there is a significant expansion with Ethereum because it has a more advanced language script and a more complex, wider range of applications.

Projects began to emerge at the top of Ethereum when developers began to notice its better qualities. Through symbolic sales, some have even raised dollars in the millions, and this is still a continuing trend to this day. The fact that you can build wonderful things on the Ethereum platform makes it almost similar to the internet itself. This caused a price jump, so if you bought a hundred dollars worth of Ethereum earlier this year, it wouldn’t be estimated at nearly $ 3,000.

Money

Monero strives to solve the problem of anonymous transactions. Even if this currency was considered a money laundering method, Monero wants to change that. Basically, the difference between Monera and Bitcoin is that Bitcoin contains a transparent blockchain with every transaction public and recorded. With Bitcoin, anyone can see how and where the money is moved. However, there is a somewhat imperfect anonymity of Bitcoin. In contrast, Monero has an opaque rather than a transparent method of transaction. No one is sold by this method, but since some people like privacy for any purpose, Monero is here to stay.

Zcash

Unlike Monera, Zcash also wants to solve the problems that Bitcoin has. The difference is that Monero, instead of being completely transparent, is only partially public in its blockchain style. Zcash also aims to address the issue of anonymous transactions. After all, no person likes to show how much money they actually spent on Star Wars memorabilia. So, the conclusion is that this type of cryptocoin really has an audience and demand, although it is difficult to point out which cryptocurrency that focuses on privacy will eventually come out on top.

Bancor

Also known as a “smart token”, Bancor is a new generation cryptocurrency standard that can hold more than one token in reserve. Basically, Bancor seeks to facilitate the trading, management and creation of tokens by increasing their level of liquidity and enabling automatic market pricing. Currently, Bancor has a product on the front that includes a wallet and creating a smart token. There are also functions in the community such as statistics, profiles and discussions. In short, the Bancor protocol enables the detection of the embedded price as well as the liquidity mechanism of smart contract tokens through the innovative reserve mechanism. Through a smart contract you can instantly liquidate or buy any token from the Bancor reserve. With Bancor, you can easily create new cryptocurrencies. Now who wouldn’t want that?

EOS

Another Ethereum competitor, EOS, promises to solve the problem of scaling Ethereum by providing a set of tools that are more robust for running and creating applications on the platform.

Theses

An alternative to Ethereum, Tezos can be upgraded by agreement without too much effort. This new blockchain is decentralized in the sense that it is self-governing by establishing a digital true community. It provides a mathematical technique called formal verification and has features to increase the security of the most financially important, sensitive smart contracts. Definitely a big investment in the coming months.

Verdict

It’s incredibly hard to predict which Bitcoin will become the next superstar on the list. However, user adoption has always been one of the key success factors when it comes to cryptocurrencies. Both Ethereum and Bitcoin have this, and even if there is strong support from early adopters of each cryptocurrency on the list, some have not yet proven their consistency. However, they should be invested in and monitored in the coming months.

5 ways Blockchain will transform the life of the common man

With all the media burning news about cryptocurrency prices, you may be wondering how this affects the common man. Blockchain technology is right at the heart of cryptocurrency and other digital currencies.

There are various industrial and administrative problems that technology can solve for the common man. Do you own a small business but often feel that you lack transparency due to traditional methods of communication? Have you ever ended up with higher medical bills than usual? As a business owner, are you bothered to find legitimate candidates? These problems affect entrepreneurs, startups, small businesses, individuals and technology Blockchain seeks to provide solutions that make the lives of ordinary people much simpler with simplified solutions.

Banking

Banking in almost all countries is still very focused on paper-intensive transactions for any money transfer, record keeping or other background functions. Blockchain technology can copy this in digital format and create a decentralized book that allows not only bankers but also customers access to a single source of information. This system allows banks to eliminate the chances of fraud because bankers in the Blockchain book can digitally verify documentation and proof of ownership of assets that can be accessed at any time in a fixed format.

Identity theft is also a major problem in the banking sector, as citizen information is stolen and used to open fraudulent accounts for illegal activities. According to the online database of complaints of the Federal Trade Commission, over 13 million complaints were filed due to card fraud and identity theft, of which 3 million were filed in 2016 alone. Through the blockchain system, customers can directly review all accounts under their name and immediately notify their banks in the event that they notice any suspicious activity in their banking data. Some well-known examples include the Hyperledger Fabric project supported by IBM and UBS Settlement Coin from UBS.

Healthcare

Blockchain technology can simplify healthcare in amazing ways and make medical data management much easier. Making patient records widely available can enable much more favorable research on drug development, and also reduces the implications of counterfeit drugs. Clinical trials and their outcomes can be made available in a decentralized network, enabling health professionals and researchers to conduct research and find solutions for better health care. Accenture is one of the largest companies to start offering innovative healthcare solutions for the healthcare sector for secure, fraud-free transactions.

Medicare scams can also crash through blockchain billing management because the billing system can be fully automated without any range of intermediaries committing fraudulent activities. With over 56 million people under the Medicare program since 2017, over $ 1.3 billion is being stolen by the government through fraudulent activities of rehabilitation facilities and home health services. Blockchain systems can effectively protect citizens seeking medical help from healthcare providers who overcharge for services offered by fraud. Centralized data not only helps healthcare professionals provide treatment based on the patient’s and his family’s history, but also eliminates the chances of the patient recalling past symptoms or disorders incorrectly.

Public records

One of the most important functions of the state administration is to record all data about its citizens. This includes information about individuals and businesses in terms of their assets and activities. Most of the recorded information is recorded in paper databases, which makes data management extremely difficult even in developed countries.

Blockchain-based systems like Killquity can encode all public records into a digital book to prevent citizens from changing data due to fraud. Identity theft is a problem that can be very difficult for the administration to deal with, and digitizing all public data to protect it from unauthorized representation can help prevent such cases of criminal activity.

Voting

One of the biggest limitations of the voting system in almost every country is that even today, voters must be physically present at polling stations to cast their ballots and can make things difficult for people who need to travel on polling days. More importantly, there is no way to check the results of a survey for the average citizen.

Blockchain development companies like Followmyvote are coming up with solutions that seek to make online voting a reality. It will provide citizens with public insight into accurate information on the position and results of surveys and various other statistics. It also leads to safer voting for citizens of countries in internal or external conflict, and criminal activities to force citizens to vote for certain candidates can be completely avoided.

Business employment

Companies of all sizes find it difficult to find the right staff. Through blockchain technology, it is possible for companies to verify the credibility of all candidates through a digital database. Blockchain technology can be applied to create a decentralized database of professionals with proven qualifications in a secure book that companies can refer to to hire candidates. Machine Learning is a New York-based company that is trying to solve this problem by focusing on recording verifiable worker data.

Tax-related or employment-related fraud accounts for 34% of all identity thefts since 2016, and the blockchain system makes the process of hiring any job much safer because the company would only have access to valid candidates, reducing the risk of hiring fraudulent workers. It also helps applicants by speeding up the recruitment process and helping them find a job they qualify for and have a hassle-free process.

The use of blockchain technologies helps both individuals and businesses, and also protects personal data and makes important data publicly visible. Although blockchain has the best application in cryptocurrencies, its use can be extended to other sectors to provide significant solutions to citizens around the world.

Getting started with Crypto

Investing in the cryptocurrency market can be a little daunting for a traditional investor, as investing directly in cryptocurrency (CC) requires the use of new tools and the adoption of some new concepts. So, if you decide to dip your fingers into this market, you will want to have a very good idea of ​​what to do and what to expect.

Buying and selling CC requires you to select the Exchange that trades the products you want to buy and sell, be it Bitcoin, Litecoin or any of over 1300 other in-game tokens. In previous editions, we have briefly described the products and services available on several exchanges to give you an idea of ​​the different offerings. There are many exchanges to choose from and they all do things their own way. Look for things that are important to you, for example:

– Deposit policies, methods and costs of each method

– Withdrawal policies and costs

– Which fiat currencies are traded for deposits and payouts

– Products they trade with, such as crypto coins, gold, silver, etc.

– Transaction costs

– where is this stock exchange? (USA / UK / South Korea / Japan …)

Prepare for the Exchange setup process to be detailed and time consuming, as exchanges generally want to know a lot about you. This is similar to opening a new bank account, because stock exchanges are intermediaries of valuables and want to make sure that you are what you say you are and that you are a confidential person that you need to deal with. “Trust” seems to be gained over time, as stock markets typically allow only small amounts of investment to begin with.

Your exchange will keep your CC in storage for you. Many offer a “refrigerator,” which simply means that your coins are kept “offline” until you indicate that you want to do something with them. There is quite a bit of news about stock market hacking and stealing a lot of coins. Consider whether your coins are in a similar bank account on the stock exchange, but keep in mind that your coins are only digital and that all blockchain transactions are non-refundable. Unlike your bank, these exchanges do not have deposit insurance, so keep in mind that hackers are always there and try everything they can to get to your cryptocurrencies and steal them. Stock exchanges generally offer password-protected accounts, and many offer two-factor authorization schemes – something to seriously consider to protect your account from hackers.

Since hackers love loot on the stock exchanges and your account, we always recommend that you use a digital wallet for your coins. It is relatively easy to move coins between your Exchange account and your wallet. Be sure to choose a wallet that handles all the coins you want to buy and sell. A wallet is also a device that you use to “spend” coins at merchants who accept CC for payment. The two types of wallets are “hot” and “cold”. Hot wallets are very easy to use, but they leave your coins exposed to the internet, but only on your computer, not on the Exchange server. Cold wallets use offline storage media, such as specialized hardware memory sticks and simple prints in printed form. Using a cold wallet complicates transactions, but they are the safest.

Your wallet contains a “private” key that authorizes all transactions you want to initiate. You also have a “public” key that is shared online so that all users can identify your account when they are involved in a transaction with you. Once hackers get your private key, they can move your coins wherever they want and that’s irreversible.

Despite all the challenges and wild volatility, we are convinced that basic blockchain technology is a change in games and will revolutionize how transactions are conducted in the future.

Blockchain: open source money

“Blockchains are simply distributed engines for processing transactions. The technology allows data to be stored in various different places while monitoring the relationship between different sides of that data. Most people who try to explain blockchains like to compare them to general ledger transactions, such as changing currency or adding a new one. devices in the network, it is recorded in a chain and anyone can keep track of what happened. That’s why law enforcement is so interested in Bitcoin – digital prints are a simple clue. “ Fortune tech, Stacey Higginbotham, May 29, 2015

What if we live in a world where global access to money was available to everyone? Money can be zoomed around the world at the speed of digital as a peer-to-peer decentralized and cooperative process – no top-down banking system is needed. Trust relationships happen automatically through digitally signed transactions without permission, destroying the inevitability of poverty. Would this be a huge step for humanity?

It is the utopian dream of technology developers. The next generation of computer networks is preparing to surround the world for the common good. Welcome to the intention of blockchain (financial) transformation of the world.

Ignore it at your own peril.

My article from May 2016, Power behind the throne, talks about mostly unreported but steady progress, towards cashless society through blockchain technology, and my thoughts on who really benefits. It could end up as a huge leap for the banking industry, gaining omnipotent control over our financial transactions. Bloomberg article, Inside a secret meeting where Wall Street tested digital money, May 2, 2016, quoted representatives of Nasdaq, Citigroup Inc., Visa Inc., Fidelity, Fiserv Inc., Pfizer Inc. and others present.

Enter 2017 and a documentary created for inspiration and excitement: Blockchain and Us. Some say 2017 will be the year in which this technology moves into the mainstream; others say it is simply too risky.

The commercial-type documentary features “leaders” from countries around the world who glorify the virtue of open source money, a basic and cultural bottom-up gearbox launched by Bitcoin 2008. Blockchain technology and its potential impact compare to how the introduction of airplanes has changed society; reportedly, only the structure of the financial services industry will be transformed 100% into digital within 20 years. In addition, blockchain technology is expected to:

  • Influence every industry as a “value” platform with military-class cryptology

  • Create a generational shift in technology, an opportunity capable of “pulling people out of poverty”

  • Adapt to what they called “smart” contracts

  • Take advantage of the profound change in the way the Internet could be used to create new forms of value and new ways of value transactions

  • Create more jobs with automation

Here you go … Blockchain and me. Yet nuisances, like me, cannot see a proportionate personal benefit. Hand over the poor financial privacy we have left in cash to the Goliath banking industry? It seems to me that we may not have a choice, because it seems that “small” people are units of income just for driving.

However, using cash and paying on the go has obvious, and perhaps not so obvious, advantages:

  • Choice

  • Transaction privacy

  • No bank fees (overdraft, credit cards, loans, lines of credit, etc.)

  • Possible 5% discount for seller on request

  • Fiscal responsibility destroyed by the use of credit

  • Suppressing the mindset of instant gratification encourages easy lending

  • More personal time when keeping up with debt means working harder / faster

I think life in the material world is easy to forget that the complete definition of wealth involves more than accumulation. The intangible wealth of personal well-being and peace of mind are invaluable until we overlook and underestimate them. Instead of a utopian dream, imagine this: We no longer make purchases we don’t need, we don’t have to impress people with money who don’t really care about us. If more people had a habit of using cash, we could strengthen our own money management skills towards creating real wealth, and also send a message to those who own gold.