by Anika D | Dec 29, 2021 | Blockchain, Business
An increasing number of women are claiming the space around blockchain technology, NFTs and cryptocurrency. This promises to be an exciting prospect as technology and finance are male-dominated fields.
As Bitcoin has reached record highs in recent years, one cannot help but note that the younger generations seem more invested. This also presents a chance for women to stop being underrepresented in digital spaces.
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This does not have to stand when you consider financial avenues provided by Bitcoin as an investment. Using blockchain technology and cryptocurrency can address issues ranging from digital education for girls in under-developed countries to wealth gap inequalities.
What are Blockchain Technology, NFTs, and Cryptocurrency?
Blockchain is a public digital ledger that records financial transactions in ‘blocks.’ Each block is a time-stamped encrypted file with data on the previous trade. With every additional transaction, they form a chain of blocks. The best use for blockchain technology is as an anti-corruption tool.
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Cryptocurrencies are the main components of digital payments systems. It enables peers to make and receive payments. The decentralization element is that banks don’t keep records of these transactions. It gets recorded in a public ledger.
Non-Fungible Tokens (NFTs) are unique non-interchangeable data stored in a block. It is proof that you have ownership of a digital or physical asset. Users can copyright the investment, buy or sell them.
This technology is revolutionizing the way you can keep assets and presents a unique opportunity for vulnerable populations to invest or sell their art. Thanks to decentralization, it provides a fairer, inclusive, and more resilient path to financial security for women.
Creating Space For Women In The Cryptocurrency World
More than two-thirds of U.S. cryptocurrency investors are men. About 60% are white, and according to a recent survey by CNBC and Acorn, the gender gap is wider than in other financial investments such as stocks, bonds, and mutual funds.
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Cryptocurrencies and NFTs provide a once-in-a-lifetime opportunity to bridge the gender gap in a newly expanding horizon. In addition, with Cryptocurrency going mainstream, it’s crucial to have the input of women and diverse actors to create a better future for crypto and NFTs.
When you consider the long-term implications of blockchain technology, you need to glean if cryptocurrency is a good investment for your portfolio. If not, an investment in NFTs might be on the cards.
If so, then women may lead the cryptocurrency community. A recent study found that female investors tend to be more analytical and carry thorough risk assessments with their investments. This is only beneficial in the volatile markets provided by cryptocurrency.
Blockchain technology and cryptocurrency thrive in communities, which benefit from women’s skillset in helping them grow and develop. Moreover, it creates a forum for women to take the initiative and lead the way. This will address the skewed balance of the blockchain ecosystem. In addition, the impact of the blockchain will ripple out to other industries, which will benefit from having women at the helm.
by Anika D | Jun 25, 2021 | Blockchain, Emerging Technology
Blockchain technology is known as one of the most emerging technologies of today’s time. It has invaded the financial sector with Bitcoin. While it’s still being researched, one cannot rule out its possible benefits. People still need to comprehend its positive and negative side.
Talking about its positive side, technology has been quite favored for its support and transparency in government. It is considered a hot topic in many countries for being an anti-corruption tool. Let’s comprehend the implications and how it can do so
Testing of Integrity Solutions
Blockchain technology is efficient for data privacy. It helps to record assets, transfer values, and track transactions. It then ensures data integrity, traceability, and transparency.
The technology is perfect for encrypting information and shared databases. It can complicate the corruption process by certifying records and transactions without utilizing a central database.
Blockchain technology is also suitable for making tamper-proof company registries. It assists them in knowing the beneficial owners and retaining money laundering. It will help you to understand the customers, financial regulators, law enforcement, and tax administrations.
People have included Blockchain technology in numerous experiments for transaction tracking. It helps in monitoring government transactions with high risks like cash transfers, aid flows, and public contracts. Overall, it’s likely to diminish fraud cases and fund leakages.
With the digitalization of public contracting, Blockchain technology can render extra security by saving critical information in the procurement chain. It then helps in easy monitoring, tracking, and auditing of the data.
Things to Consider Again of Blockchain
Georgia includes Blockchain technology into the land registry system. It then helps in adding more security. Besides, a lot of factors have to be met for Blockchain working.
For example, the data should be accurate, digital identity should be reliable, and the registries must have a digital touch. All this can be tough for developing countries.
Talking about reliability, the records stored within it are related to the origination. A gatekeeper might be required to acknowledge the accuracy of information provided in a Blockchain.
Trustworthy and Reliable
It’s pretty clear that Blockchain technology holds power to retain corruption in the government. Be it solving critical challenges or strengthening integrity, and technology has shown impressive outcomes for all.
The records and transactions can be safely initiated without any high corruption risks. It can simplify complex and enormous transactions concerning the government.
While the outcomes are promising, it still needs to be researched thoroughly before being used. The technology is still being discovered, and so are the governance models.
It will require a lot of time to reach the levels of government-oriented applications. A lot of entities should be known to move forward with the same.
While Blockchain technology is helpful, it cannot replace the more potent establishments. So, Will Blockchain technology work as an anti-corruption tool?
Well, maybe. However, to handle something as critical as corruption, a lot of experimentation is required. In the coming years, one might see the involvement of blockchain in distinct analytical fields.
by Anika D | Apr 23, 2021 | Blockchain
Today everybody asks if Cryptocurrency is a good investment or not? Well, the answer is tricky. But yes, it could be a good investment depending upon the recent rice in Bitcoin or other cryptocurrencies.
Why do you need to invest in Cryptocurrency?
Crypto can make you filthy rich, but with this, you could also lose your money. It is like any other investment and features both benefits as well as risks. On one side, if it is associated with the risk of losing money, then on the other side, it offers big rewards as well.
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So yes, Cryptocurrency is a good investment if you wish to gain direct exposure to digital currency and the businesses they facilitate. The price of cryptocurrencies is volatile and changes every day. So, you need to be very careful while investing in Bitcoin or another form of crypto.
Is crypto a good long-term investment?
Just like other currencies, Cryptocurrency is anything that you buy or hold today and can generate cash flow in future. For example, currently, the bitcoin value is high, and in 2020 it held a 66 per cent share of the total crypto market. So, investment in crypto is safe depending upon which currency you choose and its market value.
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Unlike fiat currencies, including the U.S. dollar and Japanese yen, bitcoin has a supply of 21 million coins. Many investors view crypto as a scarce asset, while others feel they could eventually gain with extensive use of digital cash flow.
Final Words
Cryptocurrency is a digital cash flow that is legal in many countries, and people can use it to buy goods as well. According to the latest trend, it is gaining popularity, and investors love to invest in it. But, like any other currency, crypto also comes with risks, so invest in it carefully.
by Anika D | Mar 28, 2021 | Blockchain, Business
BlockChain is open, dispersed ledger accounts that keep the record for all transactions between two parties efficiently. It contains a sequence of data for every transaction of each individual. Blockchain Use Cases in banks and finance are very popular these days.
The best part is that all the customers can easily share a digital ledger, and there is no need to look further for any centralized authority. This makes transaction processing with blockchain faster.
It is not only restricted to speed, but you can also make money with blockchain.
If you want to know how blockChain use cases in banks, you are in the right place. Let’s learn how it offers a new level of transparency as well as security to its banking customers.
Quick Payments
With the adoption of decentralizing channels for payments, banking institutions can facilitate quick payments. Further, it facilitates more security to every individual as well. Moreover, 90% of the European Payments Council members consider that blockchain will change the payment industry by 2025.
Better Clearance and Settlement Systems
It may also enable bank transactions to get completed directly and maintain track in a much better way. With this, there is no need for financial bodies to rely on a network of regulatory bodies and custodial services. Hence, it becomes easy to settle transactions.
Raise Funds
All organizations that deal in blockchain focus to speed up the process of payments by raising funds with different alternatives. It includes firms like Equity Token Offerings (ETO), Initial Exchange Offerings (IEOs), and Security Token Offerings (STOs).
Loan and Credits
In traditional financial institutes, they underwrite loans only after verification of credit reports. But with a new approach of blockchain, customers can have peer-to-peer loans that are safe and fast as compared to the traditional ones.
Trade Finance
Another area where blockchain can revolutionize the concept of their working is the trade finance sector. Trade finance includes all the financial activities for international trade and commerce.
So, the concept of blockchain in this sector helps to streamline the trading process with digital documents, which you can access from anywhere and anytime.
Digital Identity Verification in Banks
Here, you can get the benefit of a fast verification process. This is because it will safely reuse identity verification for other services as well.
One of the most well-known innovations in this area is “Zero-Knowledge Proof”. Now various countries and big corporations are working on a solution that supports ZKP. Choosing the right industrial wireless technology is also important to leverage this and other benefits.
Accounting and Auditing With BlockChain
When it comes to digitalization, the accounting sector is still neglected. One of the reasons can be the need to follow the strict regulatory requirements for data reliability as well as validity.
That is why blockchain can potentially transform the accounting process. As a result, the reports and accounts will be more transparent and safe.
Final Words
When banks use this approach in their banking system, it enables them to process payments in a quick and accurate manner. All in all, we can say that blockchain allows the banking sector to provide better customer experience.
![How to Make Money with Blockchain [5 Ethical Ideas]](https://d1kq12zqkovx7v.cloudfront.net/wp-content/uploads/2021/02/bitcoin-3024279_1920-1080x675.jpg)
by Anika D | Feb 5, 2021 | Blockchain
Blockchain has become a buzzword, not only in the technology sector but also in the finance industry.
Many money-minded people see cryptocurrencies as a great source of their passive income.
An increasing number of people are figuring out ways to ethically make money with these digital currencies.
To make things easier, we have rounded up a list of some proven and legit ways to earn with blockchain.
Join Cryptocurrency Companies
As blockchain is improving the economy, one common way to make money with blockchain is to work with a crypto company. The industry welcomes all professionals – whether you are a digital marketer, web designer, finance consultant, etc.
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Simply figure out how your skills can help these companies fulfill their needs.
In addition, these companies often allow or require you to work remotely. Thus, you benefit from the flexible hours of working right from your own space.
Other than that, the industry offers very competitive salary packages. You often get compensation in terms of cryptos. So, your earnings values can double or even triple in value within days or even hours.
Operate Cryptocurrency Master Nodes
These full nodes motivate operators of other crypto nodes to perform their roles in a blockchain.
In simpler words, a master node refers to a computer wallet or full crypto node that maintains a real-time record of all activities performed on the blockchain.
Here is how you can earn passive income with this:
Many cryptocurrencies pay the operators for record maintenance. Since it is a complex process and needs to maintain multiple nodes under the master node, crypto platforms often outsource their services at a fee.
Mining
Crypto mining is no more limited to professional miners. But now, you do not need high-end equipment to set up a mining rig – either a GPU or an application-specific integrated circuit.
You can now download blockchain mining applications for your PC systems and mobile devices. With a little startup capital and fewer electricity costs, you can earn digital assets with no specific qualification.
The following statistic shows the distribution of cryptocurrency mining pools globally as of 2018, by area. Forty-four percent of Bitcoin mining pools existed in the Asia-Pacific region in that year.
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Do research before you step into mining. This is because you can easily find many easier ways to make money with Bitcoin.
Cryptocurrency Faucets
In simple words, cryptocurrency faucets refer to websites that give small outs of cryptocurrencies in exchange for accomplishing small tasks.
They call it faucets because rewards are significantly small, like dripping water from a faucet. In this case, cryptocurrencies drip into your crypto wallet.
Bitcoin faucets are the most popular ones. And, the tasks may involve fun activities such as watching videos, playing games, viewing ads, etc. So, it’s a fun way to make money with blockchain.
Final Words
With the growing popularity and acceptance of blockchain, the ways you can make money out of this are also increasing. Besides those listed above, you can indulge in crypto trading, do affiliate marketing, blogging, or start with crypto arbitrage, to name a few.
by Dr. Jane Fitzgerald | Dec 12, 2020 | Blockchain, Emerging Technology
Blockchain is an encrypted distributed database that records data. It can also be explained as a digital archive of all transactions and contracts that need to be registered independently. One of blockchain’s key advantages is that it is accessible through hundreds of thousands of computers and not limited to one location. The technology has already started to threaten the financial services market and also establishes the digital currency for a Bitcoin transaction.
Image Provided by Pixabay
With Blockchain technology in the financial sector, participants can interact directly and transact over the internet without third party interference; these transactions via blockchain do not share participant personal information and create a transaction record by encrypting identifying details. Blockchain’s most thrilling feature is that it significantly reduces the risk of a data breach. In contrast to traditional processes, multiple shared copies of the same database are present in the blockchain. This makes it difficult to perform any data violations attack or cyber attack. With all the characteristics that resist fraud, blockchain technology can revolutionize various business sectors and make processes more intelligent, secure, transparent, and efficient than traditional business processes.
Benefits of Blockchain Technology
- Direct transactions that eliminate overheads and intermediary costs.
- Highly secure due to cryptographic and blockchain’s decentralized protocols.
- Increased time effectiveness due to real-time transactions.
- More transparent processes with proper record creation and tracking.
- Reduced risks related to cybercrimes, frauds, and tampering.
Applications of Blockchain Technology in Various Industries
Blockchain’s technology enhances many sectors such as Financial Services, Education, Government, Travel and Entertainment, Retail, and CPG.
Financial services
Blockchain technology, in many innovative ways, has already been implemented in the financial services sector. By offering an integrated trading lifecycle, blockchain technology simplifies and streamlines the entire process associated with asset management and payments, allowing all participants to access the same transaction data. It eliminates the need for brokers or intermediaries and guarantees accountability and effective transactional data management.
Healthcare
By increasing the privacy, security, and interoperability of the healthcare data, blockchain plays a crucial role in the medical sector. It can solve several interoperability challenges in the sector. The various organizations and people involved in the process can safely share data among themselves. By eliminating third-party intrusion, overhead costs decrease, and with secure encryptions, distributed databases store health records and digital signatures in blockchain to ensure confidentiality and authenticity.
Government
The technology of blockchain has the potential to change government processes and services. It can play a key role in improving data transaction challenges in the government’s current silo sector. The proper connection and sharing of data with blockchain allow better data management between several departments. It enhances transparency and strengthens transaction tracking and auditing processes.
CPG and Retail
The retail market could benefit greatly from Blockchain technology implementation. What the database will do is ensure that high-quality goods are genuinely authentic, prevent fraudulent transactions, find stolen items, enable virtual guarantees, manage loyalty points, and streamline supply chain operations.
Travel and hospitality
Blockchain’s application can change the travel and hospitality industry radically. Money transactions, storing key documents such as passports/other ID cards, reservations, and travel management, loyalty, and rewards can be processed through Blockchain.
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Key Challenges of using Blockchain Technology
Lack of understanding and knowledge of the technological concept are the main challenges of using it in non-financial services industries. The problems associated with the current legacy of corporate infrastructures and the lack of sufficient technological expertise are major barriers to blockchain’s widespread adoption. Adopting blockchain often means shifting culture from conventional ways of doing stuff, as it entails a significant change towards decentralizing the entire process. Compliance with current regulations and maintaining the privacy and protection needed for shared databases also adds to the key roadblocks in blockchain adoption.
The world of business will yet thoroughly explore the distinctions of the blockchain concept. Yet, we expect that the business world will soon see the vast potential of this technology with ongoing research and development in this field and to push a new wave of decentralized applications.
