Category Archive: Guest Post

blockchain media entertainment

How Blockchain Is Changing Media and Entertainment Industry

blockchain media entertainment

When people talk about the entertainment industry and media, blockchain isn’t exactly the first thing that comes to their mind. 

Wall Street and eCommerce are way ahead of the entertainment industry in terms of blockchain adoption, there’s growing evidence that things could change pretty soon. As more and more use cases for the technology emerge, major players in the industry are increasingly looking at blockchain as something that has the potential to resolve some pressing issues.

Warner Music Group, for example, has recently joined an $11 million investment round in Dapper Labs, a blockchain company seeking to create Flow, a rival to Ethereum. Already, the company is exploring a number of use cases for the cryptocurrency, including sales of digital merchandise with financial tokens. 

The slow but sure progress of blockchain in the media and entertainment might be a sign that a breakthrough might be approaching. Currently, the technology is known to provide the following solutions.

Reduce the Dependence of Artists on Middlemen and Labels 

The problem of middlemen is persistent and very well-known in the music industry. Even though it has come so far in terms of technology, it’s still in the same place when it comes to compensation distribution. The biggest losers in this situation are often the artists, who end up with a lack of opportunities to get sponsorship contracts with big-time labels. 

The only viable option for an artist to minimize the dependence on managers and distribution services is streaming services. However, the compensation they get for the music is often inadequate, even for the well-known artists. Here are some examples (source: CNBC):

  • Taylor Swift’s compensation for her famous song “Shake it Off” was between €240,000 and €335,000 even though it attracted more than 46 million streams
  • 1 million plays on a streaming service like Shopify translates only about €6,000 in earnings for the artist
  • 1 million plays on Pandora gets the artist less than €1,700. 

All of this translates into between €0.004 and €0.007 of pay per play. 

Blockchain can reduce artists’ dependence on labels and other middlemen because it’s not run by a central body but rather everyone on the network. This means that the financial transactions – compensation for songs, etc. – could be conducted without the involvement of the middlemen. 

Secure Peer-to-Peer Sales 

Contract distribution and payment for property in the entertainment industry can be a complicated thing. The biggest problem is the sheer amount of work involved in payment processing, making exclusive distribution agreements, providing licensing, and other things. On top of that, there’s high fees and a lack of control over the process for artists.

Many artists delegate these business administration responsibilities surrounding contacts, licensing, and payment to their agents. As a result, the artists are once again left with high losses because they simply cannot sell their work directly peer to peer. 

A blockchain-powered marketplace for entertainment content is a solution here. 

“Since blockchain is a distributed digital ledger system, it can enable almost complete automation of all business administration work surrounding payments, contracts, and licensing,” says Jason Rowe, a technology reporter. “The biggest benefit here, however, is the ability to enable artists to license their content directly to customers.”

WeMark is one example. It’s a distributed marketplace for stock photography that seeks to reduce the dominance of agencies like Getty Images and Shutterstock. According to WeMark’s white paper, these agencies now charge photographers up to 85 percent of the photos’ sale price, so the latter are left with a fraction of potential earnings.

Here’s how the WeMark platform works to provide artists with distribution agreements. 

The solutions offered by blockchain-powered marketplaces like WeMark include:

  • Reform of the super-centralized system for distributing digital content
  • Artists license their content directly to users, keep all the rights and manage pricing
  • More secure content distribution terms and fees with smart contracts that are programs that are unchangeable unless all the conditions are met
  • More effective referral programs to assist artists to share their content and reach more customers.

Once blockchain marketplaces get more popularity among artists, chances are good they will prefer to use them instead of agencies like Getty Images. Each of the marketplaces will accept the most common cryptocurrencies as a payment method; moreover, as the costs of crypto mining gradually go down as blockchain gets more acceptance, chances are that artists will be willing to use cryptocurrencies for peer-to-peer sales. 

Combat Piracy

The number of visits to media piracy sites in 2018 rose to 17.3 billion in the U.S. alone. With the volume of video-based traffic rapidly increasing around the world, online media piracy has skyrocketed; in fact, the television and film industry estimates about $52 billion in lost revenues by 2022

Blockchain might be one of the solutions that will finally start to battle online privacy effectively. Its main promise, more comprehensive protection of digital assets, is perfectly aligned with the goal of combating pirates. For example, the technology can allow artists to transfer media files securely while having the complete visibility of the operation. 

Another benefit of bitcoin is allowing it to catch pirates by identifying illegally obtained files. For example, if you’re a moviemaker looking to distribute a file to reviewers, you can use a blockchain-powered video distribution platform that embeds a special code, or a wallet, in every copy that gets distributed. The code remains in the file despite conversions or other processing operations.

If the file is leaked and found, then identifying the presence of the code, therefore, an illegally obtained file, becomes possible. The adoption of blockchain is still a problem, but it’s clear that the technology is on the way to become the future of the anti-piracy tactics (Warner is already investing in a blockchain company, remember?)

Blockchain: The Missing Link in the Entertainment Industry?

When people hear blockchain, they tend to think about Bitcoin. However, the technology stands to benefit many industries, including entertainment, and is already showing some good progress. The industry is highly centralized and there’s a great potential to increase earnings for people doing the creative work. 

As the applications of blockchain become more common and the benefits visible, it’s possible that artists will be more willing to use the technology. However, the massive adoption is still yet to come, so stay tuned to blockchain news.

About the author: Jessica Fender  is a content editor for TopWritersReview.com and a tech blogger. She is passionate about technology trends and finding new ways to help students improve their skills and become more successful. 

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Digital Token Development HolyTransaction

Digital Token Development: the Future of Finance?

Digital Token

The last five years have seen an incredible development in the blockchain industry. Because of its fast development, new and innovative ways of implementing blockchain technology and accepting cryptocurrency have emerged in the business world. One of the most promising developments is that of digital tokens. The idea of digital tokens has its roots in data security. Its scope in the financial field is fast-tracked on the path of transforming the way businesses handle their finances and specifically, secure their assets. Even though it is still a new development, the advantages of digital tokens are already taking the business world by storm. Among these, include accessibility at a lower cost and increased liquidity and security. Businesses who want a competitive advantage are increasingly looking hire C# coder teams with experience in implementing digital token development, to transform their financial processes to include digital tokens. 

What Is Digital Token Development?

To understand digital token development, you have to understand what digital tokens are. Just like a coupon can benefit you with a product of a certain value at a grocery store, digital tokens work in the same way. A digital token is a unit of cryptographic information that can be used to facilitate different transactions, which includes trading, redeeming or assigning to another party. 

Digital tokens can either be inherited or constructed using the software. Some of the most common examples of inherited digital tokens are Ether and Bitcoin. 

Token development exists to represent assets of value which can be traded. This can include basic commodities and cryptocurrencies, such as Bitcoin. With token development, a standard template on a blockchain is followed to develop new tokens. Because it is emerging so quickly, choosing the best token development service provider is important when entering the blockchain technology field.

When Can You Use a Digital Token Development?

Recently, digital tokens have gained a lot of popularity with businesses, specifically because it offers secure transactions. But it has many other uses. Let’s explore a few ways digital token development can be used: 

  • Payment between parties 

Many businesses are accepting digital tokens as a form of payment. This makes it convenient for two parties to securely trade without involving cash. Some examples of leading businesses and industries that are already using digital tokens include: 

    1. Internet Services Providers (ISPs) 

    2. The hospitality industry 

    3. The e-commerce industry 

  • Digital asset ownership 

The process of digital asset tokenization includes the act of breaking a large asset, for example, a real estate investment, into small chunks. Furthermore, each broken chunk of that asset is individually represented with a specific token, and the ownership of that asset is recorded on a ledger system that resembles a blockchain. 

Those specific tokens can then be traded in the open market casually, making the broken chunks of the larger asset tradable. 

  • Rewards

Some businesses offer digital tokens as rewards to clients or customers. This is typically to encourage people to shop online and can be a valuable award for individuals who invest in digital currencies. 

  • Donations

Some organizations are embracing digital tokens as a form of donations. It is a safer and faster way of donating. 

  • Investments 

Many are realizing the value of digital tokens and are starting to use it as an investment possibility. Instead of investing money in banks, stock markets, mutual funds or investment bonds, investing in digital tokens is faster and much more secure. 

Token Development

As the interest in blockchain and cryptocurrency increases, businesses are slowly starting to adopt the use of digital tokens. Compared to traditional ways of managing finances and transacting, digital token development generally provides both an alternative and more secure currency instrument and a convenient payment infrastructure. Transforming to digital tokens can be complicated for businesses and they generally require expert developers to implement it into their infrastructure. As a result, the C# programmer demand is also increasing. C# programmers are typically experienced in blockchain technology and successful digital token development. 

The Emergence of Token Technology Platforms in the Blockchain Ecosystem

Fast-developing blockchain technology combined with the existing finance ecosystems produces new business model opportunities every day. One of the most innovative models is the idea of each finance ecosystem developing its own digital currency. Ever since Bitcoin came into being, it became more attractive for businesses to invest in blockchain technology. 

The typical process of blockchains is storing data in different blocks that are interlinked with each other in a way that portrays the entire path of transactions in chronological order. Due to a blockchain’s distributed and transparent nature, people can transfer ownership from one party to another while eliminating the necessity of a trusted intermediary. 

An experienced C# coder can develop structures to help businesses invest in token development. With the help of the C# programmer framework, businesses can develop digital tokens that can be used for safe and secure financial transactions. 

Why Are Tokens a Big Deal in the Future of Finance and How Can They Be Used in the Field of Finance?

As businesses are embracing the modern world and cutting-edge technology, the field of finance is also changing. Specifically, businesses in the financial field must take the opportunity of implementing digital tokens to gain a competitive advantage. The benefits include: 

  • Enhanced liquidity and accessibility

Liquidity means how quickly a business or individual can get access to assets. Digital tokens allow stakeholders to access specific assets which are seldomly traded almost immediately. 

  • More transparent transactions

The transactions conducted with digital tokens are much more transparent. Both the seller and the buyer know their rights and are aware of exactly who they are trading with. 

  • Lower transaction fees 

Because they work on blockchain tech, the administrative cost involved in transacting with digital tokens is much more cost-effective compared to traditional financial functions that involve third parties or legal entities.

Considering this, it is important to keep in mind that bringing the culture of digital currencies in the financial field can be a complex task. Developing and implementing a blockchain can take time because it requires thorough design and consideration. To launch an idea successfully, it is crucial to rent a coder team with experience in the field. 

The Bottom Line 

With the benefits digital tokens offer, more and more businesses and individuals are adopting it as an alternative to traditional financial processes. With the growing number of things that can be done with cryptocurrencies, it is clear that the world is slowly transforming into a more digital way of doing business. 

Businesses who want to achieve better competitiveness by tapping into the liquidity, transparency and accessibility offered by tokenization, should implement digital token development. It appears that it is fast becoming the future of finance. The right way to go about it is to hire senior programming teams with experience in blockchain and digital token development to ensure successful implementation, from start to finish.  

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Blockchain-Revolutionizing-Banking

How Blockchain Technology is Changing the Banking Industry Forever

By far the biggest threat to banking in, well, living memory, has been blockchain technology. More specifically, cryptocurrency, but we’ll focus on the technology as a whole since this is what has been driving the movement.

All the tech companies in the world have been using it, including Google, Facebook, Apple, and Amazon, and a vast number of FinTech services, which is why it’s being seen as such a threat to traditional banks, but why is this happening?

What’s so important about blockchain?

In today’s post, we’re going to explore how and why blockchain technology is making such a big difference to the traditional banking format, and how the future of this industry is looking.

How Blockchain Technology is Changing Payments

First and foremost, and by far the biggest form of change that blockchain is bringing into the world, is how financial payments are made and the way modern-day payment systems work. Whereas traditional banks can take a few working days to make a payment, meaning some international payments can take a very long time, blockchain payments are instant.

Since all you need is an internet connection to make the transaction, most will be handled and completed in a matter of minutes. These transactions can happen across borders to anywhere in the world, are extremely secure (especially when compared to traditional methods) and happen pseudoanonymously.

Due to the nature of blockchain technology, the costs involved in these transactions are usually very small, typically only several cents per transaction. This means that sending money across to the other side of the world is far cheaper than traditional wire companies, such as Visa or Western Union.

In the same way, remittances are also changing. Whereas overseas remittances are expensive and long-winded, with high processing times and the fact the money can be stolen, taxed, or subject to legal issues along the way, a blockchain process basically eradicates all these issues. There are dozens of companies already set up and operating to offer these services.

The Way Account Managing and Deposits are Handled

In the traditional way the world works, consumers tend to use banks to hold money in either their savings or checking accounts. Then, the bank will loan out the money being held to make money on top of the money you’re saving, and the cycle continues. This means when you look into your bank account, much of the money you have isn’t actually being held by the bank, but instead is out in other people’s accounts as loans.

If every customer of a bank went to the bank and withdrew everything they had, the bank would collapse. It’s a very fragile system that many consumers are unaware of. However, while this system isn’t going to change any time soon, blockchain technology can make the management of this system far more effective.

Due to the benefits that blockchain technology provides, these account ledgers are far more secure, far more reliable, and far more accessible. This means banks can accurately manage their ledgers to ensure that they aren’t taking out too many loans and will actively help reduce the risk of bank run, or the system crumbling.

A Reduction in Fraud

Fraud has always been a problem in the financial industry, and it costs people around the world billions of dollars every single year. However, for the similar benefits, we’ve spoken about above, blockchain is making things far more secure.

Since the vast majority of traditional banks are set up and organised around a centralised system, malicious people can target the centralised system to commit the acts of fraud. While there have been many measures to make the system as secure as possible, this isn’t fall-proof, and statistics show around 45% of all financial institutions are prone to fraud attempts.

Blockchain is a decentralised system, which means it’s everywhere and nowhere at the same time, which makes it incredibly difficult to fraud and theft to take place. There’s no single point of access like there is with a centralised banking system and trying to get into such a system means diving into layer upon layer of encryption, all spread out in hundreds of thousands of locations.

What’s more, every single change that takes place on the ledge is capable of being seen by every other person and system that has access to the ledger. This means if any fraudulent activity takes place, everyone can see it instantly and correct it. This will help protect people’s money and keep the system afloat.

Katherine Rundell is a finance writer at Academic Writing Services and Essay Writing Services. She writes about blockchain and banking and aims to help the world get educated about finances in a time where they can seem so out of control.

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bitcoin-bottom

Has The Crypto Market Bottomed After Bitcoin’s 50% Collapse?

The second half of 2019 was really difficult for Bitcoin. According to independent experts, the total volume of public digital assets has decreased by more than 50% – from $388 billion to $166 billion. However, there is other evidence. Yes, the cryptocurrency market really fell to the bottom if you look at these statistics, but let’s not forget that market conditions are dynamic. And the factor that means failure today may well mean success tomorrow.

Another Side of the Coin

There were periods of stabilization of the exchange rate, but for a long time cryptocurrency lost much in price. At one time, panic even started on the market, and Bitcoin was predicted to soon fall to zero. Against this background, the results of the year sounded quite unexpectedly: cryptocurrency turned out to be the most profitable investment. The coin rate rose from $4035 to $ 7344, providing investment growth by 82%.
bitcoin-transaction-volume-growth-2020

Crypto Market and Bitcoin in Modern Political and Economic Conditions – What to Expect in 2020?

This year will be great for Bitcoin, Wall Street analyst and Fundstrat founder Tom Lee suggested. The destabilization of relations between Iran and the United States is one of the reasons.

Plus, modern realities make it possible to add a supposedly modern coronavirus epidemic to these factors. However, at the moment there is no consensus among experts on how the coronavirus will affect the Bitcoin exchange rate. It is still unclear whether we are dealing with a real threat to people’s lives or is this another hype, a political company, or an attempt to distract investors from other, more important issues.

However, even those experts who believe that the disease can affect the main digital coin explain that this will happen only if the outbreak develops into a full-fledged epidemic.

Venture capitalist Tim Draper is also confident in the long-term growth in Bitcoin value. In an interview with FOX Business, he advised millennials to invest in cryptocurrencies, as they are on the verge of a new financial revolution. However, the explosion of the financial revolution will slow down due to the influence of the values ​​of older generations and the obsolescence of the current banking system.

Conclusion

Bitcoin exchange rates are very unstable. Cryptocurrencies have already shown that it can rapidly fall and take off at a breakneck pace. Due to this state of affairs, bitcoin does not inspire confidence among many investors who would be happy to invest big money in the development of the blockchain, but fear for their savings. In 2020, we are unlikely to have to observe the strong influence of this factor, but we should not forget about it.

About the author: Gregory is passionate about researching new technologies in both mobile, web and WordPress. Also, he works on Best Writers Online the best writing services reviews. Gregory in love with stories and facts, so Gregory always tries to get the best of both worlds.

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three round-silver and gold colored cryptocurrencies

Basic terminology for beginners in regards to Bitcoin trading

For those interested in digital currencies, It has changed the way we do business and the way investors invest in a company. Employers are offering crypto as pay and others, such as music artists, are accepting them in exchange for singles. The attention crypto has attracted made it popular among many. One the biggest reason why many are attracted to crypto is that many of them sit on a decentralised network. This means an organisation or a government does not control them, unlike Fiat currency. Ther is also no physical form of cryptocurrency, but it can be converted into the more familiar notes and coins we know and love.

three round silver and gold colored cryptocurrencies

The introduction of Bitcoin brought with it new technology such a blockchain. The nature of blockchain makes it a secure way of working, and we will go into more detail about it below. It is essential to mention, however, that not all countries share standard consensus o what crypto is. Some view Bitcoin as exchange tokens. Others view crypto in the same light as hard cash. These anomalies in the crypto world mean taxes for Bitcoin differ from country to country which why before investing, purchasing or dealing with crypto, it would be wise to find out the countries views on it. 

A big part of making an investment in Bitcoin and other cryptocurrencies and being successful at it means learning the lingo. Here are some of the underlying crypto trading terms that are commonly used. Knowing these terms will help you navigate your way through the world of crypto in ease. 

 

Blockchain

Blockchain is a decentralised and distributed public ledger which means it is a database that is validated by a vast community of people rather than a central authority. In most cases, blockchain refers to the bitcoin blockchain, which is made up of blocks. It allows data to be stored globally on thousands of servers and lets individuals enter the networks to see all the entries in real-time. By doing this, it makes it hard for users to gain control of the system. The immense reach of blockchain makes it harder to hack as all transactions are transparent for all to see. Falsifying a single record in the chain means you would need to forge the entire chain. Bitcoin transactions sit on a blockchain. 

Wallet

A wallet is a secure digital wallet that is used to store, send and receive digital currency like bitcoin. It is typically a string of numbers and letters. Many official coins like bitcoin have official wallets, but you can find wallets which hold different types of currencies in one place. 

To use a crypto wallet users will usually be given an ID as a way to identify the wallet along with its own private key which will help to authenticate and prove possession of the wallet by the person who owns it. 

Private Key

To carry out a transaction with digital currency, you will need two things. The first is a wallet which acts as your address and a private key. The private key is a string of random numbers, but unlike address, the private key must be kept secret. The private key gives users authority to digitally sign and authorise different actions that are done by the digital identity when used with the public key.

The main priority when dealing with cryptocurrencies is to keep the private key secure. It the key gets lost or stolen; there is no means to recover it.

Order Book

The order book displays current prices with volumes in real-time of current order from buyers and sellers.

Bid Price

The price at which a person is trying to sell an asset is known as the Bid Price.

Ask Price

The ask price is the price individuals are trying to buy an asset for.

Bull Market

A period during which asset prices consistently keep rising is known as a Bull Market. To get the most out of investments, users are likely to enter the market at the beginning or just before the start of a Bull market. This is so the assets they buy become more valuable.

Bear Market

In the flip side to the Bull market, a bear market is a period during which the prices of assets consistently fall. The silver lining to this si that the drop in prices means that entering the market becomes cheaper, and it becomes possible to buy the same amount of assets for a lower price. Generally, Bear markets are not specific to cryptocurrencies, and any tradeable asset can go through the same life cycle.

Spread

Spread is referred to as the price difference between the buy price and the sell price of an asset. The exchange between the individuals defines them.

Buy order

When an individual wants to purchase an asset at a designated price, buy order or bids are created. When an individual wants to sell an asset at a selected amount, sell orders, or asks are created.

High and Low

In a 24-hour trading cycle, high means the peak price Bitcoin or other assets have reached in 24 hours. And so low means the lowest price the particular assets has become in the 24-hour trading cycle.

Slippage

The difference between the price a trader expects and the trade to execute at, and the price it eventually executes at known as Slippage.

Execution

The official completion of a trading process is known as Execution.

Cold storage

Storing digital money in an offline wallet is known as cold storage and usually stored on a platform that has no connection to the internet. There are many Blockchain smartphones which now have cold storage capabilities.

Satoshi

Satoshi, named after the creator of Bitcoin, is the smallest unit of Bitcoin (BTC) recorded on the blockchain.

Confirmation 

The act of a transaction which is included in a single block within the Bitcoin blockchain is known as confirmation.

Digital signature

Like a fingerprint, a digital signature is an e-signature which is created by using the Publick Key Cryptography (PKC). The digital signature associates securely, a signatory with a document in a recorded transaction. Every transaction has a different digital signature that depends on the users private key.

Transaction Fee

Each Bitcoin transaction incurs a fee. It is processed by a miner who is paid for their services, and the Bitcoin network confirms the results.

Author: Yasmita Kumar

A little bit about me: I am a writer and have been writing about various topics over many years now. I enjoy writing about my hobbies which include technology and its impact on our everyday life. Professionally I write about Technology, Health and Fashion and previously worked for the NHS.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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Crypto Student

5 Reasons Why Cryptocurrencies Should Be Taught For Students

Crypto Student

Cryptocurrency has been impacting lives, no doubt, and Bitcoin has now become quite popular among the youth and even the adults, making smart investors extremely rich.

 Cryptocurrency has been in existence for more than 10 years now. There is hardly a developed country, a civilized geographical location, or an economy of significance around the world still ignorant of the word “cryptocurrency.”

The fact is that even if one does not know what cryptocurrency is all about. Then definitely, you have heard about it from the news, colleagues, neighbors, friends, internet, newspapers, handouts, and souvenirs, and so on.

Bitcoin is taking the lead as the most popular and the most utilized cryptocurrency with billions of dollars of transactions being carried out with it daily. Now, this begs the question, why is cryptocurrency still not taught to students?

Schools are institutions for educating people. Thus, it is of great importance and a matter of necessity that courses or subjects related to cryptocurrency be taught in school systems. This initiative will serve as a means of equipping our young generations for the future to come since cryptocurrency symbolizes a new viewpoint on finance and, primarily, the economy.

In lieu of these, it is worthy of mention that schools should also consider teaching online academic translation services as provided by The Word Point. Nowadays, such skills are essential in virtually all spheres of life.

Why not read on as you discover the five(5) essential reasons why cryptocurrency should be taught to students.

#1 Changes in Valuation Overtime

The knowledge of cryptocurrencies have increased in the general population of the world and have undertaken a new shape over time. According to BitcoinWiki, in 2009, there was no cryptocurrency exchange; the users at that time were majorly cryptography fans who transferred bitcoin mainly as a hobby. 

In 2010, a user, known as “Smoke too much,” auctioned 10,000 BTC for $50 without any buyer. Lazlo Hanyecs was also reported to have successfully bought two pizzas at Jacksonville, Florida, on the 22nd of May, 2010. This was the first recorded successful bitcoin transaction. On the 26th of June, 2019, Bitcoin hit $13000, which notable experts attributed to the development of the cryptocurrencies technology industry. This is to enlighten you concerning the history of the significant changes of Bitcoin as a major cryptocurrency. To open your minds to a new life-changing experience, and for you to reason and agree with me as per why cryptocurrency should be taught to students.

#2 Promising Career Opportunities

Taking into consideration, the rate at which cryptocurrency is growing concerning its wide acceptance, thousands of career opportunities are bound to manifest within the years to come.

Concerning a report by Coinbase, it was brought to public knowledge that the population of students from various departments who have become interested in cryptocurrency is growing so fast.

Some companies today are on the lookout for job-seeking graduates who are progressive-minded and are interested in fast-growing technologies. Likely, most of these employers are not well-grounded in the knowledge of cryptocurrency themselves. Hence, they need workers who are capable of bringing this knowledge to an organization.

In the world of crypto, Many opportunities abound, and the possibilities are limitless. Cryptocurrency and digital currency go hand in hand, such that a wide range of opportunities are opened for young scholars. The lists of potential careers for cryptocurrency lovers are virtually enormous. 

Here are some few potential career opportunities you should look forward to:

  • Cryptocurrency developers and miners
  • Cryptocurrency traders
  • Cryptocurrency analysts
  • Cryptocurrency-based software engineer
  • Cryptocurrency developers, and so on.

#3 Encompassing all Industries

According to the SI News blog, Cryptocurrencies have been forecasted to be utilized extensively in industries like Agriculture. Going by this report, it becomes evident that cryptocurrency technology is here to revolutionize the way we run our businesses.

In current times, workers are highly required by employers to collaborate and work across different departments. Several Interdisciplinary research is also growing in popularity in various universities in most developed countries. 

For instance, the University of California-Berkeley started delivering a cryptocurrency class called “Blockchain, Crypto economics, and the Future of Technology, Business and Law” which has become quite popular among students.

#4 It is a Great Investment Opportunity

Investment in cryptocurrency is highly encouraged for every business person or investor looking to make it big within a short period. It is indeed an excellent Investment platform given the astronomic rise in bitcoin rate in the year 2007 when it rose to its highest-ever to about $20,000, by which investors made a whole lot of money as a result of their investment. 

Even though some investors or individuals will argue that Bitcoin is highly volatile and full of risk, the same principles that apply to businesses and investment opportunities are still applicable to an investment in cryptocurrency.

#5 The Impacts of Cryptocurrency are Enormous

Following the growing trend of cryptocurrency, the impacts are becoming greater and more significant over time. This further stresses the reason why the course should be taught to students. Students need to be prepared for the crypto revolution to come.

Jake Gardner, a crypto analyst once said that “the impact of cryptocurrency is omnipotent considering the huge amount of benefits attached to it”. He also gave some notable advantages of cryptocurrency, which includes:

  • It reduces the cost of health-care services.
  • It guarantees a secured record-keeping.
  • It produces an extensive adoption of cryptocurrency technologies in the next 2-3 years.
  • It helps to reduce the cost of operations as well as minimizes the cost incurred from cross-border payments and many more.

Final Thoughts

There is a strong need for cryptocurrency classes to be held in various schools, and it should not be handled with levity. Students should be well equipped and fortified with the knowledge of cryptocurrency to be economically relevant towards its full implementation in a few years to come. Given the reasons above, should cryptocurrency be taught in schools or not? I leave you with this question to ponder on.

About the author: Frank Hamilton is a blogger and translator from Manchester. He is a professional writing expert in such topics as blogging, digital marketing and self-education. He also loves traveling and speaks Spanish, French, German and English.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

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btcplaymania-infographic-cover

20 surprising things you can buy with Bitcoin

BTCPlayMania prepared this infographic which highlights twenty ways to spend bitcoins you might have not known about.

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Stablecoins, Holytransaction

Stablecoins: How they Strike a Balance between Crypto and Fiat

stablecoin rocks

There appears to be no end to the growing popularity of cryptocurrency and its related technology. The real world uses and applications of crypto are increasing and blockchain technology has found use outside, instead of just being a basis for the recording of crypto exchange. More ICOs are in development and a wider range of working cryptocurrencies is becoming available to the growing crypto community. The advent of crypto technology is not just a trend that people are getting hyped up about, it is an actual breakthrough in technology.

Bitcoin, the first functioning cryptocurrency, was developed in 2009 by an anonymous party known as Satoshi Nakamoto. The main goal of this new “currency”? To function as an international currency, created with the hope of minimizing costs and increasing efficiency of exchange through the development and use of a decentralized public ledger that distributes the verified records. This makes it a permanent and immutable documentation of what has happened to each and every bitcoin that has been mined and exchanged.

The new concept of decentralization is one of the breakthrough innovations of bitcoin which has been put to use in many other ways. However, too much emphasis has been placed on the investment and earning potentials of bitcoins and other cryptocurrencies. Owed to how it was able to gain popularity as being the digital currency that bore millionaires from investments that were once worth a few pennies, there is a large majority in the worldwide community that know about Bitcoin but fail to comprehend what it is and why it was created in the first place. Alarmingly, there are quite a number of people who are so quick to join the bandwagon of investors, hoping to get in early, as profits are rising for those already investing in Bitcoin, but have not equipped themselves with the necessary know-how for managing their bitcoin. Aside from being a recipe for failure for these individuals investors, it also negatively impacts the real purpose of Bitcoin as a cryptocurrency as it is unable to function as an actual currency.

The value of Bitcoin is dependent on the interrelation of two things – supply and demand. Getting into where the supply of Bitcoin comes from would take too much discussion. The important thing to note, however, is that there is a finite supply of bitcoins and, because of the rise in its value late in 2017, there has been a rise in its demand. The seesaw between supply and demand markedly changes the value of Bitcoin, making it a volatile currency. This means that it’s value changes, not just every day but consistently throughout a day. As an investment or commodity, this makes it one of the favorites for many investors or traders since it provides a great opportunity for trading. With the rises and falls in the market, it provides great trading opportunities.

It’s not just Bitcoin that follows this trend, other crypto currencies are also very volatile. However, this has now defined the crypto world as being more of a world of trading than as one made of alternative currencies. Luckily, there are now a few cryptocurrencies with values are so closely linked with a fiat currency that they do not behave like the others. For a trader, these are the cryptos to avoid, as there is little to no growth in your investments, but, for the person looking for a way to store, instead of invest, their assets, these stablecoins provide the advantages of both fiat and crypto – stability and efficiency.

Stability

From their names alone, stablecoins are stable or not as volatile as other cryptocurrencies. They are “stable” in a sense that although there are still rises and falls to their market values, these are not as frequent or as big a change. As introduced earlier, these coins are linked to an existing fiat, which helps to steady and maintain their values.

Crypto “currency” also defines its purpose by name. It aims to function as a currency, a medium which can be used to exchange goods, services and the like. However, due to the volatility of a majority of crypto, using it as a mode of payment is difficult. There is a need to constantly update the prices on items, based on the value of a certain crypto. Purchases that are made over a span of a few days may seem cheap and affordable on the first day, but upon finalization of payment may turn out to be too costly. With a currency that has a value that changes at an hourly rate, would one really prefer to pay items through bitcoins?

Efficiency

The underlying technology that supports Bitcoin or any other cryptocurrencies – the blockchain – provides many advantages that still make it a good mode of payment. Not only is it a secure method, due to its decentralized system of verifying any transactions, but it is also a fast method of exchange, which can be done at a low cost. Saying that it is efficient is an understatement as it removes the need for costly transactions that have to be checked, confirmed and processed by a centralized body. Add to the fact that there is always room for error in these centralized systems and there has been not just one incident where issues on the management of finances have come up. Putting too much trust on a single company to handle your money may be what we have become used to, but having a public ledger which is immutable and secure surely changes things.

What are stablecoins again?

They are cryptocurrencies with fiat properties. They are both stable and efficient alternatives that provide wallet owners with the best of both worlds. Are you a trader looking to find a storage for your assets without having to transfer it into your bank or are you just someone who dislikes the centralized banking system but would prefer not to hoard cash at home? Storing your assets online as a stablecoin may be a great option.

Author Bio: Kim Hermoso is a content writer. Her articles are mostly guides and feature pieces on all things related to cryptocurrency, such as blockchain technology and smart contracts.

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Blockchain Data World Storage

How is Blockchain Technology Market Going to Rise at High CAGR of 38.4% Till 2025?

The global Blockchain Technology Market is forecast to rise exponentially in the coming years. The market is expected to witness high demand from diverse industries, especially the banking, financial services, and insurance (BFSI) industry.

In terms of industry vertical, the banking, financial services, and insurance segment held the leading share of 41% in global blockchain technology market in 2017. The segment will gain further impetus following introduction of bitcoin. “Rampantly increasing cyber-attacks and frauds in the BFSI industry accounts for millions of dollars. This has become a global concern. To make the technology used in the industry safer and more secure, Deloitte and Microsoft Azure and other tech giants are offering blockchain services,” said a lead analyst.

In terms of deployment, the proof of concept segment is gaining traction and is expected to witness impressive growth during the forecast period 2018-2025. Growth witnessed in this segment is backed by high need of transparent transaction across industries such as healthcare, retail and BFSI.

blockchain technology market

Increasing Demand for Secure Blockchain Technology to Guarantee Growth at Promising Rate

Government initiated awareness programs regarding benefits of blockchain technology among undeveloped nations is anticipated to fuel the demand in the global blockchain technology market“, said a lead analyst at Fortune Business Insights.

Increasing adoption of e-financial services and rapid adoption of the blockchain technology in developed nations are expected to drive the global blockchain technology market during the forecast period.

Increasing number of new blockchain products and their approval grants is also anticipated to act as a driving factor for the global Blockchain technology market.

Partnerships Among Key Market Players and Blockchain Developers Driving the Market in North America

North America emerged dominant in the global blockchain technology market in 2017. The North America market was worth US$ 820 Mn in 2017. The region will continue leading the market at a global level through the forecast period. Growth witnessed in the market is also attributable to recent collaborations between market players in the U.S. and blockchain service provides. Europe is also anticipated to witness impressive growth during the forecast period owing to high presence of blockchain technology developers.

In 2017, IBM was the leading organization in the global Blockchain technology market. Other companies operating in the global market are Oracle Corporation, Deloitte, Microsoft Corporation, IBM Corporation, The Linux Foundation, Chain Inc., Consensus Systems, Bits, Inc (Tendermint, Inc.), Schvey, Inc. (Axoni), VironIT, Altoros, and Fintech & Blockchain Software House.

Source: https://www.fortunebusinessinsights.com/industry-reports/blockchain-technology-market-100072

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What Are the Investment Returns on Bitcoin Mining

What Are the Investment Returns on Bitcoin Mining

You know about Bitcoin: The original digital currency based on blockchain. Every transaction is written to a shared ledger and verified by the rest of the network. Each set of approved transactions is a “block” added to the chain. 

But you may have missed the buzz on Bitcoin mining. It’s not just for web geeks or digital currency traders. There are thousands of people around the world looking to profit in this way. 

What is Bitcoin Mining? 

Participants try to guess a random number generated by the system. Those who get the answer “own” the next block of transactions and collect a reward; currently 12.5 bitcoins. If you manage this, you can also collect fees on transactions in the block you created. 

This number comes from a complex equation. In the early days it was handled by ordinary computers, and then GPUs (graphics processing units), which were better suited to the task. Over the years the equation has evolved in difficulty to regulate the rate of discovery. 

Technology 

Bitcoin miners now rely on hardware-intensive systems known as ASICs (Application-Specific Integrated Circuit), which appeared in 2013. If you own or can get access to such a system, you stand to guess a fair amount of numbers on the blocks constantly taking shape. 

If this sounds like an easy way to profit, it is. Many people have joined the ranks of digital currency miners. However, with so much competition, the big question is whether there are still decent profits to be made. 

Can You Still Make Money? 

The more computers that are trying to capture the number, the harder the equation becomes and the fewer numbers you get. 

But Bitcoins also tend to go up in value. It was a price spike in 2013 that launched mining as a popular investment option. Speculators agree that the value of Bitcoin should continue rising as its popularity grows. 

Investments Required 

To maximize your return on Bitcoin mining, you need an ASIC system. These computing solutions utilize high-end hardware that generates a lot of heat. Such a setup requires state-of-the-art cooling and ventilation systems along with higher utility bills to operate all of this. 

Without an ASIC of your own, your odds of scoring aren’t good. It is possible to save some money by leasing an ASIC rather than buying one outright. 

Other Options 

Fortunately for the smaller investor, recent years have seen the rise of cloud mining, or cloud hashing. This response to growing demand is basically another cloud service where you get to lease a portion of someone else’s ASCI-enabled data center. 

A cheaper option, albeit with smaller potential rewards, is a mining pool. This is a third-party service that uses investor funds to do their own mining and shares out the profits. The upside of this is that you don’t need technical or financial knowledge at all; you just need to come up the minimum investment required by the service. 

Profit Potential 

You can join some of these investment pools for as little as $500. Some of these third-party services state that you could earn your investment back in as little as two months or so, and start seeing profit after three. When these claims are legit, or even close to it, you’re seeing a remarkable and fairly consistent ROI better than most forms of investment. 

However, transaction fees are currently voluntary on the part of individual users of Bitcoin, as is whether the transaction should even be included in a block. This is encouraged as the transaction is more quickly verified if it’s part of a block. Even so, your profit depends on the current value of Bitcoin, the number and size of transaction fees involved, and the number of people sharing the rewards. 

Federal Regulation 

In 2015 the Commodity Futures Trading Commission (CFTC) declared that digital currency trading is legal and subject to fair trading laws. However, this doesn’t guarantee that you’re protected. Prudent investors always do the homework: Know who you’re dealing with and determine realistic expectations. 

Risks in Bitcoin Mining 

The Bitcoin reward is halved every 210,000 blocks, or about four years. As the reward approaches zero, it may not be profitable at all unless transaction fees are increased and enforced. And while the general trend is up, there’s also fluctuation in Bitcoin value. 

There’s also a question of integrity. As more cloud services spring up, you’ll have a widely varying scenario of payouts, contract stipulations, and the potential for dishonest reporting; even outright fraud. Also, on the downside: The IRS says that mining profits may be taxed as individual investment gains

Is Bitcoin mining still a good investment? At the present time, yes, and hopefully for years to come with appropriate changes. Are you ready to sit back and let the computers make you bitcoins?

Jen McKenzie is an independent business consultant from New York. She writes extensively on business, education and human resource topics. When Jennifer is not at her desk working, you can usually find her hiking or taking a road trip with her two dogs. You can reach Jennifer @jenmcknzie

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