Decentralized Finance (DeFi) on Ethereum: The Future of Finance?

Step 1 – Understanding Bitcoin and Blockchain

Bitcoin is a peer-to-peer payment system, otherwise known as electronic money or virtual currency. It offers a 21st century alternative to brick and mortar banking. Exchanges are created through “e-wallet software”. Bitcoin has actually destroyed the traditional banking system while operating outside government regulations.

Bitcoin uses sophisticated cryptography, can be issued in any fraction, and has a decentralized distribution system, has high global demand and offers several distinct advantages over other currencies such as the US dollar. For one, it can never be equipped or frozen by banks (s) or government agencies.

In 2009, when Bitcoin was worth only ten cents per coin, if you only waited eight years you would turn thousands of dollars into millions. The number of bitcoins available for purchase is limited to 21,000,000. At the time of writing, the total Bitcoin in circulation was 16,275,288, which is a percentage of the total Bitcoin. “To dig“The current value of a bitcoin at the time of writing this article was $ 1,214.70 USD.

According to Bill Gates, “bitcoin is exciting and better than currency”. Bitcoin is a decentralized form of currency. No need to stay “Trusted, third party“By excluding the banks involved in any transaction, you are deducting the lion’s share of the fees for each transaction. In addition, the amount of time required to transfer money from point A to point A has been drastically reduced.

The largest transaction using Bitcoin is one hundred and fifty million dollars. This transaction was done in 7 seconds with minimum fee Transferring large sums of money using a “trusted third-party” will take days and cost hundreds if not thousands of dollars. This explains why banks are violently opposed to buying, selling, transacting, transferring and spending bitcoin.

Only 003% (250,000) of the world’s population is estimated to have at least one bitcoin. And only 24% of the population knows what it is. Bitcoin transactions are entered into a ‘blockchain’ chronologically just like bank transactions. The block, meanwhile, is like a separate bank statement. In other words, blockchain is a public ledger of all bitcoin transactions that have ever been performed. It continues to grow as a ‘complete’ block is added to it with a new set of recordings. To use conventional banking as an analogy, blockchain is like the whole history of banking transactions.

Step 2 – Set up your e-wallet software account

As soon as you create your own e-wallet software account, you will be able to transfer funds from your e-wallet to the recipient e-wallet in the form of Bitcoin. If you want to use a Bitcoin ATM to withdraw funds from your account, you will basically link the ‘address’ of your e-wallet to the selected ATM machine and the ‘address’ of the wallet. To facilitate the transfer of your funds to and from Bitcoin on a trading platform, you simply link the ‘address’ of your e-wallet to the ‘address’ of the e-wallet of your chosen trading platform. In fact, it’s much easier said than done. The learning curve is very short when it comes to using your e-wallet.

To set up an e-wallet, the company has countless online that offer safe, secure, free and turn-key e-wallet solutions. A simple Google search will help you find the right e-wallet software for you, depending on exactly what your needs are. Many people start using a “blockchain” account. It’s free and very safe to set up. To further enhance security and safety with your e-wallet account, you have the option to set up a two-tier login protocol to protect your account from being hacked.

There are many options to set up your e-wallet A good place to start with a company called QuadrigaCX. You can find them by doing a Google search. Quadrigacx employs some of the most stringent security protocols currently in existence. Furthermore, Bitcoins funded by QuadrigaCX are stored in cold storage using some of the most secure cryptographic methods possible. In other words, it is a very safe place for your Bitcoin and other digital currencies.

To withdraw money in your local currency, from your e-wallet, you need to identify a Bitcoin ATM, which is often found in local businesses in most large cities. Bitcoin ATMs can be identified by a simple Google search.

Step 3 – Buy the value of any fraction of bitcoin

To buy any amount of Bitcoin, you need to deal with a digital currency broker. Like any currency broker, you must pay a fee to the broker when you purchase your bitcoin. It is possible to buy 1 or less of Bitcoin if you want to buy whatever. The cost is based on the current market value of an entire bitcoin at any given time.

There are numerous Bitcoin brokers online. A simple Google search will allow you to easily find the best one for you It is always a good idea to compare rates before purchasing. Before buying through a broker, you need to confirm the rate of Bitcoin online, as the rate fluctuates frequently.

Step 4 – Stay away from any trading platform from promising unrealistic returns to undoubted investors

Finding a reputable bitcoin trading company that offers a high return is the best for your online success. Earning 1% per day is considered a high return in this industry. It is impossible to earn 10% per day. With online bitcoin trading, it is possible to double your digital currency in ninety days. You should avoid being tempted by any company that is offering a return of up to 10% per day. Such returns are not realistic in digital currency trading. There is a company called Coinexpro which offers 10% per day to bitcoin traders. And it ended up being a register scheme. If it is 10% per day, go away. The trading platform mentioned above seemed highly sophisticated and it seemed legitimate. My advice is to focus on trading your bitcoin with a company that offers a reasonable return of 1% per day. There will be other companies that will try to differentiate you from your Bitcoin using dishonest methods. Be very careful with any company that offers unrealistic returns. Once you transfer your bitcoin to a recipient, you literally have nothing to do with getting it back. You must ensure that your chosen trading company is fully automated and integrated with Blockchain, From receipt to payment. More importantly, it is crucial that you learn to distinguish legitimate trading opportunities from dishonest “companies” who are experts when it comes to distinguishing their customers from their money. Bitcoin and other digital currencies are not the problem. This is a trading platform that you must be careful about before handing over your hard earned money.

Your ROI should also be above 1% + per day because the trading companies to which you lend your Bitcoin are probably earning above 5% + per day on average. Your ROI must be automatically transferred to your “e-wallet” at regular intervals throughout the duration of your contract. There is only one platform that I feel comfortable using. It pays every bitcoin investor / trader 1.1% interest per day as well as 1.1% in capital. This kind of return is surprising compared to what you would earn with a traditional financial market, but it is common with cryptocurrencies. Most banks will pay 2% per year!

To manage tedious activities like logging into your account, sending emails, clicking on links, etc., you must look for a suitable trading company that offers a set-a-and-forget-it-like platform. , As they absolutely exist.

Bitcoins are known as the first decentralized digital currency, they are basically coins that can be sent via the Internet. 2009 is the year Bitcoin was born. The name of the creator is unknown, but Satoshi Nakamoto alias was given to this person.

The benefits of Bitcoin.

Bitcoin transactions are made directly from person to person through the internet. No bank or clearinghouse is required to act as a middle person. Thanks to this, transaction fees are much lower, they can be used in all countries of the world. Bitcoin accounts cannot be frozen, prerequisites for opening them do not exist, same for limits. Every day more traders are starting to accept them. You can buy whatever you like with them.

How Bitcoin Works

Bitcoin can be exchanged for dollars, euros or other currencies. You can buy and sell it as it was the currency of any other country. To keep your bitcoins, you need to store them in something called a wallet. These wallets are located on your PC, mobile device or third party website. Sending Bitcoin is very easy. It’s as simple as sending an email. You can buy virtually anything with Bitcoin.

Why Bitcoin?

Bitcoin can be used anonymously to buy any type of product. International payments are extremely easy and very cheap. This is because Bitcoin is not really tied to any country. They are not subject to any kind of regulation. Small businesses prefer them because there is no credit card fee involved There are some people who buy Bitcoin only for investment purposes, hoping to increase their value.

Ways to earn bitcoin.

1) Buy on Exchange: People are allowed to buy or sell Bitcoin from sites called Bitcoin Exchange. They do this by using the currency of their country or any other currency of their choice.

2) Transfer: Individuals can only send Bitcoin to each other via their mobile phone, computer or online platform. It’s like sending cash digitally.

3) Mining: The network is protected by some people who are called miners. They are regularly rewarded for all newly verified transactions. Thesis transactions are thoroughly verified and then referred to as a public transparent ledger. These individuals compete to mine these bitcoins using computer hardware to solve difficult math problems. Miners invest a lot of money in hardware. Nowadays, there is something called cloud mining. Using cloud mining, miners invest money in third-party websites, which provide all the necessary infrastructure, reducing hardware and energy costs.

Saving and storing bitcoin.

These bitcoins are stored as digital wallets. These wallets exist in the cloud or on human computers. A wallet is something similar to a virtual bank account. These wallets allow people to send or receive bitcoins, pay for things, or simply store bitcoins. Unlike bank accounts, these Bitcoin wallets are never insured by FDIC.

Types of wallets.

1) Cloud Wallet: The advantage of having a cloud wallet is that people do not have to install any software on their computer and do not have to wait for long syncing process. The downside is that the cloud can be hacked and people can lose their bitcoin. Nevertheless, these sites are very secure.

2) Computer Wallet: The advantage of having a computer wallet is that people keep their bitcoins safe from the rest of the internet. The problem is that people can format computers or delete them due to viruses.

Bitcoin anonymous.

When making a bitcoin transaction, there is no need to provide the real name of the person. Every bitcoin transaction is recorded which is known as a public log. This log contains only the wallet ID and no human name So basically every transaction is personal. People can buy and sell things without being tracked.

Bitcoin innovation.

Bitcoin has established a completely new way of innovation. Bitcoin software is all open source, which means anyone can review it. One of the realities today is that Bitcoin is changing the world economy in the same way that everything about web publishing has changed. The idea is brilliant. When everyone has access to the entire Bitcoin world market, new ideas emerge. Reducing transaction fees is a fact of Bitcoin. There is no cost to accepting Bitcoins, they are also very easy to set up. Charge back does not exist. The Bitcoin community will create all kinds of extra business.

What is insurance?

Insurance is a method of protection against financial loss. It is a type of risk management, which is basically used to support against the danger of an unforeseen misfortune.

An insured can report a mishap or complaint to a broker and submit the necessary information to the insuring specialist, especially the insurer, if applicable, to the reinsurer. Claim accommodation is confirmed by a receipt to the insurer.

From that point on, the claim agent may request additional data for the claim through an external source. After this step, if each condition is met, the claim is confirmed, and the installment begins through the insurer’s claim agent. Insurance is exposed to various fraud schemes. Diagnosis of disguised medicinal diseases ranging from insurance plan sharing after divorce. So how does blockchain help in this case?

The future of blockchain technology is seen as the biggest picture of the Fourth Industrial Revolution and a potential disruptor for some companies and businesses, including the insurance sector. Even though the technology is still in its infancy, it has just demonstrated what it can do: streamline printed material, increase data security by removing tedious case forms, and incur additional corporate costs.

Blockchain technology recap:

• Blockchain is a broad, decentralized advanced record that reliably holds up-to-date and a substantial number of exchange records. Blockchain systems are openly accessible for the purpose of recording anything from physical resources for electronic money and for viewing all included assemblies.

• After the check-in process, the block of a transaction is time-stamped and added directly to the blockchain network on a sequential request. Additional blocks are then attached to the previous block, creating a chain of blocks with data for each transaction made in the history of the blockchain.

How blockchain technology can benefit the insurance industry:

Blockchain was introduced to the majority through Bitcoin, however, its applications simply surpassed electronic cash recording. It can also reinforce innovative and troublesome changes in various industries without money, for example, the insurance business model. In addition to recording electronic cash and financial transactions, this technology could become part of the insurance, healthcare project.

• An insurance company mainly conducts a series of processes in which an insurance contract is signed. Processes can be anything from getting an insurance policy, rating a customer, claiming or manipulating a fraudulent policy.

• Since blockchain technology then deals with smart contracts, insurance industry experts claim that this technology could potentially change the way insurers treat customers. The insurance industry, like many other industries that rely on a lot of data, can empower all or most of the data-related transactions for this industry through blockchain smart contracts.

• In this way, smart contracts can encourage, enforce and enforce the negotiation or implementation of an insurance contract through blockchain technology. Insurance contracts are unpredictable and difficult to understand, so smart contracts can strengthen productivity in the chain of insurance honors wherever time, effort or money is spent on confirming information before preparing a transaction.

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Key points of the blockchain that affect the insurance industry:

1. Improve confidence:

There is a crisis of confidence in the financial services industry. Despite the fact that big banks are the main issue, the disconnection of trust affects all businesses Lack of confidence, high costs and inefficiency of the insurance business all contribute to unusually high levels of low-insurance. Blockchain technology encourages customers to build trust because it provides simplicity and clarity.

2. Improve efficiency:

Insurance agencies or healthcare providers know how wasteful the information department process is to initiate coverage or care when making changes. Furthermore, consumers have an undeniable fear of losing control over their own information. Blockchain provides an answer to drive efficiency and security that enables one person to control individual information when registering a blockchain confirmation.

3. Advanced claims processing through smart contract:

So far everyone insured and insurers have problems that blockchain and smart contracts can solve. Insured people usually discover long and mysterious insurance contracts, while insurance companies are fighting a variety of frauds that are extraordinary. Through blockchain and smart contracts, they will both benefit from monitoring claims in a responsive and transparent manner. And it starts with recording and confirming the contract on the blockchain. When a claim is submitted, Blockchain can guarantee payment only in significant or valid individual cases. But when the network finds that more than one case is a claim from the same accident, the blockchain can trigger the claim installment without any human intervention, thus speeding up the settlement of the claim.

4. Fraud detection and prevention:

One of the most credible reasons to study the blockchain of insurance agencies is the ability to detect and prevent counterfeit or illegal activity. Expected 5 to 10 percent fraud in all cases. Blockchain technology is a decentralized store and it is the historical record that can autonomously examine transactions for client, policy and authenticity. Every insurance company needs to take a step today to understand how blockchain innovation can affect the way they work together today and in the future.

This is the method by which blockchain technology will help or participate in an insurance industry in the future. Stay tuned if you need to refresh your ideas or read the latest news about blockchain and cryptocurrency technology.

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Bitcoin has become a very familiar and popular form of currency over time. Although, what is Bitcoin actually? The following article will go on the inside and outside of this coin which pops up from somewhere and spreads like wildfire. What makes it different from ordinary currency?

Bitcoin is a digital currency, it is not printed and never will be. These are captured electronically and no one has control. These are produced by people and businesses, creating the first form of money known as cryptocurrency. Although common currency is seen in the real world, Bitcoin runs through billions of computers around the world. From Bitcoin in the United States to Bitcoin in India, it has become a global currency. But the biggest difference from other currencies is that it is decentralized. This does not mean owning a specific company or bank.

Who made it?

Satoshi Nakamoto, a software developer, proposed and created Bitcoin. He saw it as an opportunity to get a new currency in a market free from central authority.

Who prints it?

As mentioned earlier, the simple answer is no. Bitcoin is not a printed currency, it is a digital currency. You can even trade online using Bitcoin. So you can’t churn unlimited bitcoin? Absolutely not, Bitcoin is designed in such a way that more than 21 million bitcoins in the world at a time are never “mine”. Although they can be divided into smaller amounts. One hundred million shares of Bitcoin are called “Satoshi” after the name of its creator.

What is Bitcoin based on?

In most cases and for conventional use, Bitcoin is based on gold and silver. However, the fact is that Bitcoin is actually based on pure mathematics. It has nothing to hide as it is an open source. So anyone can see if it is going according to their demands.

What are the features of Bitcoin?

1. As mentioned earlier, it is decentralized. It is not owned by any particular company or bank. Every bitcoin digger software builds a network and they work together. The theory was, and it worked, that if a network went down, the money would still flow.

2. It’s easy to set up. You can set up a Bitcoin account in seconds, unlike the big banks.

3. This is anonymous, at least the part where your bitcoin addresses are not linked to any kind of personal information.

4. It’s completely transparent, all transactions using Bitcoin are shown on a large chart, known as a blockchain, but no one knows if it’s because you don’t have a name attached to it.

5. Transaction fees are very low, and compared to a bank’s fees, rare and small fee bitcoin charges are nothing. It’s fast, very fast. Wherever you send money, it will usually arrive within minutes of processing. This is undeniable, meaning that once you send your bitcoins, they will be gone forever.

Bitcoin has changed the world dramatically and that’s how we see money. Many are wondering if it is possible to survive with Bitcoin. Some have even tried to do so. Nevertheless, Bitcoin is now a part of our economy, a unique kind of currency, and it will not go away any time soon.

What is Bitcoin?

Bitcoin is a decentralized, peer-to-peer, digital currency system designed to enable online users to process transactions through the digital unit of the exchange known as Bitcoin. In other words, it is a virtual currency.

The Bitcoin system was created in 2009 by an unpublished programmer. Since then, Bitcoin has gained widespread attention as well as controversy as an alternative to commodity currencies such as the US dollar, euro, and gold and silver.

Growing in popularity

Bitcoin didn’t get much attention in the world of business and finance before 2009. It gained prominence with an increase of over 300% during 2011-2012. The price of Bitcoin has risen 400% since August last year. As a result, venture capital firms and investors around the world continue to value cryptocurrency.

In the first half of 2014, venture capital firms invested $ 57 million in Bitcoin in the first quarter, followed by $ 73 million in the second quarter for a total of $ 130 million, up 50% from last year’s total of $ 88 million. This is in stark contrast to the 2012 scenario where bitcoin companies raised a relatively insignificant amount of $ 2.2 million.

These statistics undoubtedly prove that Bitcoin is worth your investment, which raises the question, how can you buy and invest in Bitcoin?

A guide for novice investors in Bitcoin

The easiest and least complicated way to invest in Bitcoin is to buy Bitcoin. There are many established firms, mainly in the United States and abroad, which are involved in the business of buying and selling Bitcoin, abbreviated as BTC.

Coinbase

If you live in the United States, Coinbase is the place you are looking for. Coinbase offers clients an estimated markup of 1% of the current market value with BTC. U.S. residents have the option to sync their Coinbase wallets with their bank accounts. As a result, future transfer transfers are hassle-free. This company also gives you the option to buy automated bitcoin from time to time. For example, if you’re interested in buying বি 50 bitcoin at the beginning of each month, Coinbase lets you set up an automated purchase for that amount.

Be aware of the terms and conditions before you start using this service If you subscribe to an automated bitcoin service, you will not be able to control the purchase price of BTC per month. Note that Coinbase does not act as a bitcoin exchange, meaning you buy and sell coins directly from the firm. Since the firm has to collect coins from other buyers, you may face delays or interruptions in ordering during fast market movements.

Bitstamp

Bitstamp adapts to the requirements of a conventional bitcoin exchange. Bitcoin acts as an intermediary that allows you to do business with other users and not with the company. You always have the opportunity to find someone who is more liquid and willing to do business with you. There is an initial fee of 0.5% which can be reduced to 0.2% if you trade $ 150,000 in 30 days.

Alternative ways to buy Bitcoin

Local bitcoin

Exchange is not the only way to invest in Bitcoin. Local bitcoins are often used to buy BTC offline. The website is designed to link potential buyers and sellers. Bitcoins are locked in an escrow from the seller and can only be left to buyers.

Buying Bitcoin offline is not always very reliable or secure. It is therefore advisable to meet with vendors during the day and let a friend tag with you in case the situation goes south.

Bitcoin is not just a modern trend. Venture capital firms consider Bitcoin to be a viable alternative to long-term currency. There are endless ways for you to enter the field of Bitcoin investing. As mentioned earlier, Coinbase, Bitstamp and local Bitcoin are the most popular channels for investing in Bitcoin in the United States. Do your homework and find out which road ticks all your boxes.

Litecoins are a type of cryptocurrency that has grown in popularity in response to the demand for alternative currency options from consumers around the world. This currency works much like the standard world currency. Traders and investors have realized that there is a huge potential to offer this currency and it is widely traded by beginners and seasoned investors. The best way to get the most out of Litecoin trades is to use the services of a Litecoin broker. There are many Litecoin brokers available who have earned an excellent reputation for providing excellent services to their clients. These brokers will be able to help traders make the right decision about their investment.

When you hire a good Litecoin broker, they will have plenty of tools and resources available to make sure your business is running smoothly. Litecoin News Widget is probably the most used tool by these brokers. This widget can be fully customized to meet your specific needs. It will provide constant updates on cryptocurrency news and other relevant information, so that you can keep the latest news developments confidential as they are published over the wire. The following will provide insights on exactly what this cryptocurrency is and how it can be used and obtained in addition to trading for it.

What are Litecoins?

Litecoins are a form of virtual currency that can be obtained and used to buy and sell various services and products such as jewelry, clothing, food and electronics. Since this currency is used only online, its value is determined by the demand of the currency trading website. This cryptocurrency can be traded, or it can be mined. When digging for coins, the process can be a daunting task. Computers solve mathematical equations and as a result they are rewarded. Almost any good computer can mine for currency, but statistically the chances of success are low and it can take days to earn a few coins.

The difference between Litecoins and Bitcoins

The main difference is that Litecoins can be bought much faster than Bitcoin, and their limit is set at 84 million, compared to Bitcoin’s limit of only 21 million. Bitcoins are accepted in more online stores, but Lightcoins are growing in popularity every day. Currency is decentralized, so it is a big advantage for traders. As cryptocurrency becomes more widely known, the cost is expected to be lower than the cost of bitcoin.

As we expected, since the release of Crypto TREND we have received many questions from readers. In this version we will give the most common answer.

What kind of change is coming that could be a game changer in the cryptocurrency sector?

One of the biggest changes that will affect the cryptocurrency world is an alternative method of block verification called Proof of Stack (PoS). We will try to keep this explanation fairly high, but it is important to have a conceptual idea of ​​what the difference is and why it is a significant factor.

Note that the underlying technology of digital currency is called blockchain and most of the current digital currency uses a validation protocol called Proof of Work (PoW).

With the traditional method of payment, you need to trust a third party to settle your transaction, such as Visa, Interact, or a bank or a check clearing house. These trusted companies are “centralized”, meaning they keep their own personal ledger that stores the transaction history and balance of each account. They will show you the transaction, and you must agree that it is correct, or start a dispute. Only the parties to the transaction see it.

With Bitcoin and most other digital currencies, lasers are “decentralized”, meaning everyone on the network gets a copy, so no one has to trust a third party, such as a bank, because anyone can verify information directly. This verification process is called “distributed consensus”.

PoW needs to “work” to verify a new transaction in order to enter the blockchain. With cryptocurrencies, that legitimacy is accomplished by “moneymakers” who must solve complex algorithmic problems. As algorithmic problems become more complex, these “miners” need more expensive and more powerful computers to solve problems ahead of everyone else. “Mining” computers are often specialized, usually using ASIC chips (application-specific integrated circuits), which are more efficient and faster in solving this difficult puzzle.

Here is the process:

• Transactions are bundled together in a ‘block’.
• The miners solve the hashing algorithm puzzle and verify that the transaction is valid within each block, which is known as “proof of work problem”.
• The first miner to solve the block’s “proof of work problem” is rewarded with a small amount of cryptocurrency.
• Once verified, transactions are stored in public blockchains across the entire network.
• As the number of transactions and mines increases, so does the difficulty of resolving the hashing problem.

While PoW has helped blockchain and decentralized, trusted digital currencies get off the ground, it has some real flaws, especially with the amount of work these miners are trying to solve “evidence of work problems” as quickly as possible. According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin miners are using more energy than 159 countries, including Ireland. As each bitcoin price rises, more and more miners try to solve the problem, consuming more energy.

All those energy expenditures just to validate transactions have led many to look for alternative ways to verify blocks in place of digital currency, and the leading candidate is a method called “Proof of Stack” (PoS).

PoS is still an algorithm, and the purpose is the same as the proof of work, but the process of reaching the goal is quite different. With PoS, there are no miners, but instead we have “balidator”. PoS relies on the belief and knowledge that all the people who are legitimizing the transaction have skin in the game.

Thus, instead of using the power to answer the PoW puzzle, a PoS verifier is limited to verifying the percentage of transactions that reflect its ownership partnership. For example, a verifier who owns 3% of the available ether can theoretically verify only 3% blocks.

In PoW, the probability of solving your work problem proof depends on how much computing power you have. With PoS, it depends on how much cryptocurrency you have, the more you share, the more likely you are to solve the block. Instead of winning crypto coins, the winner receives a verified transaction fee.

Verifiers enter into their partnership by ‘locking up’ a portion of their fund token. If they try to do something malicious against the network, such as creating an ‘illegal block’, their shares or security deposits will be confiscated. If they do their job and do not violate the network, but do not win the right to legalize the block, they will get their partnership or deposit back.

If you understand the basic difference between PoW and PoS, this is all you need to know. Only those who plan to become miners or verifiers need to understand all the ins and outs of these two legalization methods. Most of the general public who wish to own cryptocurrencies will only buy them by exchange and will not participate in the legitimacy of actual mining or block transactions.

Most in the crypto sector believe that in order for digital currency to survive in the long run, digital tokens must move to a PoS model. At the time of writing, Ethereum is the second largest digital currency behind Bitcoin and their development team has been working on their PoS algorithm called “Casper” for the past few years. Hopefully we will see Caspar implemented in 2018, putting Etherium ahead of all other major cryptocurrencies.

As we have seen before in this sector, big events like the successful implementation of Caspar could send the price of Ethereum much higher. We will keep you updated on future issues of crypto trends.

Stay tuned!

Now a major concern is to make sure that our files are protected and that no one can change the mentioned file and claim that their address contains more cryptocurrency (bitcoin, etherium, lightcoin, etc.) than they actually own.

This is where “mining” works as a solution

Basically, we have a network that sends thousands of “rubber stamper” files that can verify the authenticity of the transaction so it checks if everything is genuine and validates the transfer. This allows the sender to spend his bitcoin and in the end you are able to receive it without worry.

Now, this is where human nature begins, to verify all these transactions our people (or miners) have to pay for their time and effort (there is also a cost of energy) above all why not share it with all of us, and this is our Bitcoin leads to “minor.”

Did you see my comment above, “After all why not share it with all of us”, Welcome to the 21st Century and the World of Cryptocurrency! After all we are cutting off the middle man (banker and finally the government) so the “miners” get compensated via bitcoin through blockchain to make sure all the transactions are genuine, so there is no middle man to manipulate the currency, this is an amazing deal. How about?

So now you have a decentralized currency (no government manipulation or intervention and that is important) being monitored by thousands of miners who acknowledge and receive a small fee, but are testing the legitimacy and integrity of all these transactions.

It means the 21st century and beyond.

Now, transactions are covered, but where do I store my bitcoin?

This is where the wallet comes in.

Simply put, you have a unique bitcoin code, this code can be used to send you bitcoin so anyone can see and make it visible for your transactions across the bitcoin environment.

So where do I put my bitcoin?

In the same place you keep your money (if you use a wallet) only it is a bitcoin (cryptocurrency) wallet.

All you have to do is set up a unique address where you will store your bitcoin (cryptocurrency) and you will go to this address to access how many bitcoins you currently hold. This program is accessed online with an email and password.

Okay, this is a simple explanation, I need to go into more detail which I will address in the next article.

Although most people are beginning to learn about “blockchain” simply because of Bitcoin, its roots – and its applications – go much deeper.

Blockchain is a technology in itself. It empowers Bitcoin, and this is why * many * new ICOs have flooded the market – creating an “ICO” is ridiculously easy (no barriers to entry).

The point of the system is to create a decentralized database – which basically means that a network of computers (usually managed by individuals) is able to operate, regardless of the choice of “Google” or “Microsoft” for storing data. In the same way as a big company.

To understand its impact (and thus where the technology can take the industry) – you need to see how the system works at a basic level.

Created in 2008 (1 year before Bitcoin), it is an open source software solution. This means that anyone can edit and download the source code. However, it must be noted that the central “repository” can only be modified by certain individuals (so the “development” of the code is not essentially free for everyone).

The system is known as the Merkel Tree that works – a type of data graph that was created to provide access to versioned data on a computer system.

Merkle trees have been used to great effect in a number of other systems; Most notably “GIT” (source code management software). Without being too technical, it basically saves a “version” of a set of data. This version is numbered, and thus can be loaded at any time if a user wants to recall the older version. In the case of software development, this means that a set of source code can be updated on multiple systems.

The way it works – saving a huge “file” with updates to a central data set – basically powers the choices of “Bitcoin” and all other “crypto” systems. The word “crypto” simply means “cryptographic”, which is the technical term for “encryption”.

Regardless of its core functions, the real advantage of adopting a wide “on-chain” is almost certainly the “example” that it provides to the industry.

An idea called “Industry 4.0” has been floating around for decades. Often combined with the “Internet of Things”, the idea is that a new level of “autonomous” equipment could be introduced to create more efficient production, distribution and distribution strategies for businesses and consumers. Although it has often been harked, it has really been accepted.

Many scholars are now looking at technology as a way to make this change easier. The interesting thing about “crypto” is that the various systems built on top of it – especially evidenced by the choice of etherium – can actually be programmed to work with a single level of logic.

IoT / Industry 4.0 has so far really missed this argument – and why many are looking to “blockchain” (or equivalent) to provide a base-level standard for advancing new ideas. This value will enable companies to create “decentralized” applications that empower intelligent machinery to create more flexible and efficient production processes.

Industrial transformation…

Before the industrial revolution, families sustained themselves through farming and other trades and crafts including carpentry, cloth production, and metalwork based upon proximity to sources of materials and supplies. In this context, the term “trade” refers to an occupation. Because such activities could be performed at home, and often augmented farmwork, families flourished in cottage industries. In this system, the family was the enterprise – manufacturing products in a workshop at home. Merchants brought raw materials to homes and would take finished products to markets. Entrepreneurs and agents would “put out” work to these workshops, which were in effect their subcontractors.

Journeymen were craftsmen who had completed apprenticeships, such as in carpentry or metalwork. Journeymen traveled between local communities with the right to charge a fee for a day’s work accordingly. Apprentices were new practitioners who entered programs to receive training for their careers while working.

As the industrial revolution progressed, work was transferred from homes to factories when the required machinery became too large or expensive. Production moved from a decentralized to a centralized system, creating employment opportunities for laborers in factories.

Initially the “put in” system was used, where workers were treated as subcontractors within a factory and eventually became employees. Factory working conditions were often harsh. Labor movements were founded to fight for workers’ rights, from which today’s employment and labor laws have evolved.

As the economy shifted from family to commercial and industrial enterprises, employment opportunities grew. Entrepreneurs provided the innovation to start new enterprises in new or existing markets, with new products and/or services, from which new industries evolved.

Enterprises were established that had an identity in their own right separate from their individual founders and owners. An enterprise is an undertaking for prize or cause. Business entities such as partnerships and joint stock companies emerged over time, and eventually the concept of a corporation was developed – a legal entity that exists separately from its shareholder owners.

Trading took place in marketplaces. In this context, the term “trade” refers to buying and selling. A market is a set of potential buyers (prospects) and/or actual buyers (customers) and potential and/or actual sellers (suppliers) who are motivated to execute transactions. Motivated buyers have the desire, want or need, authority, and resources to demand and purchase a product and/or service. Motivated sellers have the desire, want or need, authority, and inventory to supply and sell a product and/or service. A marketplace is where buyers and sellers can meet to execute transactions. Street marketplaces were common in towns along sidewalks or as squares and covered buildings, and still are popular in many places around the world. Financial transactions were conducted in bourses or exchanges where contracts representing financial instruments were traded by dealers and brokers.

Through improvements in manufacturing techniques, such as production lines and automation, the scale of units produced increased dramatically. Through improvements in energy, transportation, and telecommunications technologies, reach extended into new geographic markets for acquisition of materials and supplies, and delivery of end-products.

Chains of suppliers of raw materials, manufacturers and distributors, merchandisers (wholesalers and retailers), and end-consumer customers emerged over time. Some enterprises decided whether to make or buy materials and supplies on a case by case basis. Others became “vertically integrated” by owning and controlling most or all aspects of their supply and demand chains to make hand-offs between processes more efficient and effective. Tremendous wealth could be generated for entrepreneurs participating in chains that created value through both sales and production activities.

Governance, administrative, and operational disciplines emerged as enterprises became larger, creating the need for managers, supervisors, and staff. As a consequence, executive, administrative, professional, technical, vocational, and clerical jobs were created. As such enterprises became stable sources of employment. The word “firm” was used to describe them – suggesting the notion of steadfastness. This term is still common today, especially for professional services partnerships such as accounting, architectural, consulting, engineering, and law firms, where trust and integrity are important factors.

Through acquisition or merger, enterprises can become “horizontally integrated” – offering the same products and/or services in different markets. Through horizontal integration, enterprises can gain economy of scale and become corporate “giants.” The world’s largest enterprises have gained scale by doing the same thing in multiple geographic markets around the world, although offerings may differ slightly through varying customer demographics and local practices.

In many industries, such as construction, energy, financial services, and manufacturing, there are a few very large global players that have grown mainly through acquisitions and mergers, and a large number of very small players that serve local markets almost exclusively. Joint ventures are also common that share risk, resources, and expertise.

Not only did the construction industry contribute to the growth of economies by building infrastructure, but it participated in globalization trends through the development of large enterprises, such as Bechtel, Halliburton, Black & Veatch, and CH2M Hill, that have worldwide reach.

Construction activity flourished with the development of residential, commercial, industrial, and corporate real estate. Through the use of prefabricated and modular buildings, the construction and manufacturing industries became interrelated.

Energy production and manufacturing activities globalized, driven by the aerospace and automotive industries, with such enterprises as Royal Dutch Shell, Honeywell, and Ford. The financial services industry has globalized with such enterprises as Barclays, HSBC, and JP Morgan Chase. Globalization was necessary not only to achieve scale, but also to serve global customer enterprises. Global financial services enterprises may be able to better manage risk than those only serving local geographies through their ability to move resources between and within multiple markets.

The food service and hospitality industries have partially globalized, primarily through franchising, but the merchandising industry is still primarily local, although products may be sourced internationally.

As a consequence, industrialized societies have stabilized through enterprises that create employment from jobs that provide steady income streams for food, housing, health, education, transportation, taxes, and disposable income for entertainment and recreation. In effect, these enterprises finance the lower levels of Maslow’s Hierarchy of Needs for many people.

The need for marketing and sales capabilities grew accordingly and media communications vehicles, such as magazines, newspapers, radio, and television, relied upon advertising revenue to cover their costs. Today, many websites rely upon advertising revenue to cover costs, and there is a gradual shift occurring from physical to electronic media of all forms as mobile devices become more popular.

Industry structure…

Today’s economy is structured according to either market-driven or production-driven industries. An industry consists of a group of enterprises that share common activities, products and/or services and/or common methods of distribution.

In the market-driven approach, the economy comprises goods-producing and service-providing industries; in the production-driven approach, the economy comprises product-driven and service-driven industries. Goods-producing industries include: natural resources and mining, construction, and manufacturing; service-providing industries include: wholesale and retail trade, transportation (and warehousing), utilities, information, financial activities, professional and business services, education and health services, leisure and hospitality, and public administration. Product-driven industries comprise enterprises that manage inventories available for sale as primary activities (regardless of whether they transform them or not). Under this approach, the retail, wholesale, and food service industries are product-driven.

“Commerce” is a more general term than “trade,” that refers to the buying and selling of commodities, merchandise, and services, and the associated warehousing, distribution, and transportation. Commodities are products that are indistinguishable and interchangeable with other products of the same type because there is little to no value added. Commodities include natural products such as produce, minerals, and oils. Merchandise consists of commodities and manufactured products for retail sale to consumers.

Consumers are users of products and/or services – both individuals and enterprises. Enterprise consumers are either entrepreneurial (in emerging or growth stages) or institutional (in growth or mature stages), and consist of sole proprietors, partnerships, limited liability companies, or corporations. Sole proprietors are natural persons, whereas partnerships, limited liability companies, and corporations are juristic persons, meaning that they are non-human (business) entities having the same status as a natural person for legal purposes. Juristic persons may be considered separate from their partners, members, or shareholders, for legal purposes, although the distinction is not necessarily absolute. Juristic persons may enter into contracts, own assets, incur liabilities, and sue and be sued.

Commercial enterprises are involved in light manufacturing, merchandising, retail, and professional services. They are small to medium sized enterprises, located on Main Street, in shopping centers and malls, and in office parks. Commercial enterprises are typically narrowly held.

Industrial enterprises are involved in heavy and high volume manufacturing and related industries, such as in chemicals and energy. They are medium to large sized enterprises located in dedicated facilities, such as factories and refineries and are typically more widely held.

Corporate enterprises are large service providers in finance, entertainment, health care, and transportation, and include the administrative activities of industrial concerns. Corporate enterprises are typically widely held.

Commercial enterprises are major sources of employment in local communities for entry to mid-level positions. Industrial and corporate enterprises employ both unskilled and skilled employees, and are providers of professional career opportunities.

From a governmental policy perspective, employment provides stability in the economy. An activity that is repetitious provides an opportunity for steady employment, such as food processing and service, and manufacturing in growth industries. Entrepreneurial and sales activities are more prone to uncertainty; in order to promote stability, the compensation of salespeople is incentivised to encourage results on an ongoing basis.

Government policy has also encouraged home ownership, which strengthens stability. For most people, their job provides their largest source of income, and their house is their largest asset; their mortgage and related expenses are a significant component of their monthly compensation. Home value appreciation is a creator of wealth for many families. However, the home as an asset can become a liability if it prevents the owner from relocating to a different geography to pursue new opportunities. In down markets, home values can depreciate to a point lower than the mortgages that finance them – a stressful and sometimes irrecoverable situation.

Challenges for employment in the future…

As industries mature and reposition, restructure, and reengineer as a consequence of changing buyer trends or competition, employment opportunities may erode, and current positions may be eliminated. Reengineering initiatives can lead to a strategic repositioning of an enterprise by changing its activities, pursing different methods of performing the same activity, or streamlining current activities to reduce costs. The application of technology can play a major role by creating jobs in new areas and eliminating them in others. Globalization trends have changed the cost structure of certain activities by outsourcing to providers who offer economy of scale, or to low cost production markets such third-world countries.

The consequence is that job markets have changed dramatically, and that old assumptions for employment have become invalid. The notion of working for one employer for forty plus years is no longer possible because industries, enterprises, and types of employment change quickly.

Even the methods for finding a job have changed. It’s not what you know, or who you know, but who knows you that matters. Finding a job is an individual marketing initiative, and many people do not have experience in promoting products and/or services, let alone themselves. However, if individuals cannot promote themselves, how can they promote anything else? It is essential to launch an individual marketing campaign and to keep it refresh an alive in order to find a job in today’s economy.

A marketing campaign for an individual begins in the same way as for an enterprise: by developing a strategy that addresses opportunities, threats, strengths, and weaknesses, and by setting objectives, goals, and specific action-oriented initiatives.

The process starts by an individual understanding the power of their own knowledge and skills – the personal, professional, technical, entrepreneurial, leadership, and management competencies that others will want to know and benefit from.

Effective personal and professional competencies are essential for gaining entry level positions in enterprises, and the initial promotions thereafter. However, the enterpriship competencies in entrepreneurship, leadership, and management disciplines determine long-term success from transforming ideas into value, influencing others to follow direction through influence, and applying resources to activities to gain results in both entrepreneurial and employment activities.