Preparing for the world of cryptocurrency: Chinese edition

Over the past year, the cryptocurrency market has received a number of severe blows from the Chinese government. The market took the hits like a warrior, but these combos have taken their toll on many cryptocurrency investors. Weak market performance in 2018 is fading compared to stellar thousand percent earnings in 2017.
What happened?

Since 2013, the Chinese government has been taking steps to regulate the cryptocurrency, but nothing compared to what was put into effect in 2017 (See this article for a detailed analysis of the Chinese government’s official statement)

2017 has become a banner for the cryptocurrency market with all the attention and growth it has achieved. Extreme price volatility has forced the Central Bank to take more extreme measures, including a ban on initial coin offerings (ICOs) and restrictions on domestic cryptocurrency exchanges. Soon, mining plants in China were forced to shut down, citing excessive electricity consumption. Many exchanges and factories moved abroad to evade the rules, but remained accessible to Chinese investors. However, they still fail to escape the claws of the Chinese dragon.

In a recent series of government efforts to monitor and ban cryptocurrency trading among Chinese investors, China has spread its “Eagle Eye” to monitor foreign cryptocurrency exchanges. Companies and bank accounts suspected of carrying out transactions with foreign cryptocurrencies and related activities are subject to measures ranging from withdrawal limits to account freezes. There are even rumors among the Chinese community about more extreme measures to be applied on foreign platforms that allow trading among Chinese investors.
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“As for whether further regulatory action will be taken, we will have to wait for orders from higher authorities.” Excerpts from an interview with the head of the group of the Chinese Agency for Security Oversight of the Public Information Network under the Ministry of Public Security, February 28


Imagine that your child invests his savings in an investment in a digital product (in this case – in cryptocurrency), and he does not have the opportunity to verify its authenticity and value. He or she may get lucky and get rich, or lose everything if the crypto-bubble bursts. Now increase this to millions of Chinese citizens and we are talking about billions of Chinese yuan.

The market is full of fraud and pointless ICOs. (I’m sure you’ve heard the news that people are sending coins to random addresses with the promise of doubling their investments and ICOs, which just don’t make sense). A lot of unwise investors are looking for money and they would care less about the technology and innovation behind it. The value of many cryptocurrencies is derived from market speculation. During the crypto boom in 2017, take part in any ICO either with a famous advisor and with a promising team, or with a decent rush, and you guarantee at least 3 times your investment.

The misunderstanding of the firm and the underlying technologies combined with the spread of ICO is a recipe for disaster. Central Bank members report that nearly 90% of ICOs are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants to make sure that the cryptocurrency remains “controlled” and not too big to fail in the Chinese community. China is taking the right steps toward a safer, more regulated world of cryptocurrencies, albeit aggressive and controversial. In fact, it may be the best step the country has taken in decades.

Will China deliver an ultimatum and make cryptocurrency illegal? I very much doubt it, for to do so is pointless. Currently, financial institutions are prohibited from storing any crypto-assets, while individuals are allowed but prohibited from conducting any form of trading.

State cryptocurrency exchange?

At the annual “two sessions” (named because the two main parties – the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPCC) take part in a forum held in the first week of March, leaders gather to discuss recent problems and make necessary amendments to the law.

Wang Pengjie, a member of the NPCC, immersed himself in the prospects of a state-owned digital asset trading platform, and initiated educational projects on blockchain and cryptocurrency in China. However, the proposed platform will require an authenticated account to allow trading.

“With the establishment of relevant regulations and the cooperation of the People’s Bank of China (PBoC) and the Securities Regulatory Commission of China (CSRC), a regulated and efficient cryptocurrency exchange platform will serve as a formal way to attract companies (through ICOs) and investors who retain their digital assets. seek to raise capital ‘Fragments of Wang Pengjie’ s presentation in two sessions.

March to the blockchain nation

Governments and central banks around the world are struggling with the growing popularity of cryptocurrencies; but one thing is for sure, everyone has accepted the blockchain.

Despite the dispersal of cryptocurrencies, the blockchain is gaining popularity and proliferation at various levels. The Chinese government supports blockchain initiatives and is emulating this technology. In fact, the People’s Bank of China (PBoC) has been working on digital currency and conducting bogus transactions with some of the country’s commercial banks. It has not yet been confirmed whether the digital currency will be decentralized and will have cryptocurrency features such as anonymity and immutability. It would not be a surprise if it turns out to be just a digital Chinese yuan, given that anonymity is the last thing China wants in its country. However, created as a close replacement for the Chinese yuan, the digital currency will be subject to existing monetary policy and law.

Governor of the People’s Bank of China Zhou Xiaochuan. Source: CNBC

“Many cryptocurrencies are experiencing explosive growth that could have a serious negative impact on consumers and retail investors. We don’t like (cryptocurrencies) products that use a huge opportunity for speculation, giving people the illusion of enrichment overnight” Zhou Interview Xiaochuan on Friday, March 9th.

Speaking to the media on Friday, March 9, People’s Bank of China Governor Zhou Xiaochuan criticized cryptocurrency projects that used the crypto-boom to make money and speculate in the market. He also noted that the development of digital currency is “technologically inevitable”

At the regional level, many Chinese cities are implementing blockchain initiatives aimed at promoting growth in their region. Hangzhou, known as Alibaba’s headquarters, said blockchain technology is one of the city’s top priorities in 2018. Local authorities in Chengdu have also been asked to build an incubation center to facilitate the adoption of blockchain technology in the city’s financial services.

Local conglomerates such as Tencent and Alibaba have also established partnerships with blockchain firms or initiated projects themselves. Blockchain firms, such as VeChain, have also secured several partnerships with Chinese firms to increase supply chain transparency in China.

All clues point to the fact that China is working towards a blockchain nation. China has always been tuned to new technologies such as mobile payments and artificial intelligence. From now on, China will undoubtedly become the first country to support the blockchain. Will we see how the Chinese government retreats and allows citizens to trade again? Maybe when the market matures and becomes less volatile, but definitely not in 2018.


3 good reasons for the world of digital currency – cryptocurrency

Welcome to the “crypto” world!

– Blockchain technology domain

– Cryptocurrency market

– Bitcoin payment system cabinet.

So here’s the trend, or you can call it the “world of digital currencies,” with a big step back in the game.

If you avoid bitcoins and cryptocurrencies today, tomorrow you will fall into a bad ditch. It is actually the present and future of a currency that does not know how to stop steps. Since its inception and to this day, it has grown and helped many people around the world.
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Whether it’s a blockchain to record transactions, or a Bitcoin system to handle the entire payment structure, or a wallet of Erc20 tokens to define rules, and policies for the Ethereum token – everything goes hand in hand and goes to a new currency beam in the world.
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Sounds great, right?

Moreover, with the advent of such a successful currency regime, many firms like to participate in this game. In fact, the whole point is to assist businesses and organizations in obtaining Blockchain technology or cryptocurrencies without any hassle through a reliable Blockchain development company. With a lot of knowledge and capacity, these companies are developing this currency and playing a vital role in the digital economy.
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Just for a nanosecond, even if we assume that the cryptocurrency will no longer exist, what will happen then?

Maybe time will attack your mind!
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The very first launched by Satoshi Nakamoto, bitcoin became a colonizer, and from that beginning the innovative digital currency turned into a spectrum of good things.

Thus, the question arises – will the development of cryptocurrency or the company-developer of cryptocurrency disappear by the end?
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In fact, predicting the future is not possible, but we can say that the cryptocurrency or Erc20, or Blockchain, or a company that develops Bitcoin wallets, will be with the same sense of enthusiasm and passion to lend a hand to business verticals and organizations.
John Donajo, a former CEO of eBay, said: “Digital currency will be a very powerful thing.”

And it turns out to be very accurate as time goes on.

In fact, it has good reason for the success of this concept.
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Proof of fraud:

The blockchain is connected with cryptocurrency. Thus, every transaction is recorded in this general ledger, avoiding fraud. And all individuals are encrypted to overcome identity theft.

Erc20 takes care of all rules and protocols, so rules and orders are not violated. If you participate, be sure to contact the Erc20 developer and report that it is designed according to the rules.
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You are the sole owner:

There is no third party or other assistant or electronic system to evaluate what you are doing. Only you and your client support the end-to-end experience. Isn’t that a great concept?

The arrangement is instant and everything between you and your seller is without any other obstacles. After all, this is your call.

Easy to fit:

The internet has done everything within reach and at hand. It plays an indispensable role in the digital currency market or the stock market. You will have the best currency exchange option rather than the traditional and time consuming ways. And, a great way to learn about you is how passionate you are about cryptocurrencies.

If you are a business owner and expect to encounter cryptocurrency in your area, always move forward with a decisive shot. Approach a reliable supplier or developer of a cryptocurrency exchange, discuss everything with all the open cards, and then hit the ball in court.


Can claims challenge InsurTech’s current priorities?

The insurance industry is witnessing many changes due to modern technological trends, such as the Internet of Things, big data and analytics, blockchain, which are dynamically and irreversibly changing their functioning. Let’s take a look at the major trends affecting the industry and discuss the various issues that drive InsurTech’s current priorities, and see if we can name the most important ones.
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Every industry has its leaders and its laggards, and the insurance industry is no exception. Deep pockets help policyholders take advantage of digital technology to change their functioning and:


  1. Offer new models and personalized products to meet the changing expectations of customers, which are driven by online retail models,
  2. Partner with technology players to ensure they keep up with new technology trends, and to take advantage of the Internet of Things to take advantage of connected sensors or data collection devices to prevent losses and use the best pricing techniques in property and victims as well in life as health insurance.
  3. Create a cybersecurity strategy to protect sensitive personal and business data stored by them, and to respect privacy policies.
  4. Adopting cloud computing, artificial intelligence and automation to improve speed and flexibility, and for faster settlement of requirements to ensure better customer satisfaction,
  5. Use advanced analytics to generate strategic ideas and actively plan future business offerings and gain competitive advantage.
  6. Consider using blockchain technology to add “smart” contracts and secure, decentralized data collection, processing, and dissemination in their processes.
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Are these strategic initiatives enough for the host companies to enjoy industry and market leadership and, ultimately, success? What opportunities do insurers need to prepare to meet the needs of the industry, in expanding channels or developing a business model as it develops? How can insurers prepare for tomorrow’s demands, even if they meet today’s expectations of them? The purpose of this report is to suggest that many policyholders do not recognize the importance of claims management for their business, although they focus on the many other strategic imperatives they face. Let’s explain why we would say so.
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It’s an open secret that customers are always happy with a good claims settlement experience, but tend to be very upset and start posting strong negative reviews online when their claim is delayed, challenged or rejected. While meeting requirements is an extremely important component of an insurer’s overall customer relationship management task, currently for most it is just unfinished business. Instead, they need to pay attention to customers as well as focus inside, as they delve deeply into customer dissatisfaction:

  1. Insurers should closely monitor customer feedback and the level of satisfaction with the application process and settlement experience, especially if they are rejected.
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  3. Insurers should consider customer feedback and consider it in how their processes work, as well as question the clarity of the very height of sales and verify that the claim has been fairly rejected.
  4. They need to closely monitor their reputation in this key area of ​​customer satisfaction, which can affect their ability to retain a customer.
  5. It should be remembered that dissatisfied customers never return for additional coverage or other policies.
  6. Even agents who believe that too many customers are raising their voices against the insurer’s claims settlement process tend to distance the business from them.
  7. The smoothness of customer work should also extend to claims handling, as filing claims becomes a smooth process.
  8. Insurers can use the technology to provide more opportunities to file a lawsuit, including uploading photos and videos, with increased speed and accuracy and reduced contact with people.
  9. Because algorithms more easily detect fraudulent claims, the efficiency of claim processing is improved. Data-based claim prevention can help reduce costs and increase cost by predicting real risk and reducing contributions.

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By managing a delicate balancing act between detecting fraudulent claims and paying legitimate ones, insurers can create a negative relationship with the customer by being too strict or overly suspicious. But that doesn’t mean they can be gullible and continue to approve all demands gently. Any injustice, real or perceived, can determine whether the policy will be updated again, whether our online reputation will suffer, or whether the insurer may face legal dispute. Even if insurers work hard to identify the technologies needed to expand their distribution channels and provide an optimized customer path; they cannot overlook the importance of excluding fraudulent claims from their list of priorities. This is why we believe that claims management can challenge InsurTech’s priorities for the insurance industry. What do you think? Please write and share your thoughts.

Tips to consider when looking for a Blockchain application development company

Blockchain … It has become ubiquitous: left, right and center – we hear about this technology everywhere. But it has gained its merit importance: no one can question the multifunctional performance, agility and flexibility of the blockchain.

Today, a number of blockchain application development companies have come up with their services, and there are definitely many experts in the market. Once you have decided to test and maintain a blockchain yourself, you will have to consider many factors. The internet is plentiful in various sources and you will be able to find many tips on how to choose the best blockchain application development company.

We have decided to make you a list of the most relevant tips that will reduce the suffering when choosing. Here we go!

  1. Choose a blockchain development company that offers consulting services. Usually such companies are well versed in blockchain technology and provide you with comprehensive, detailed, expert reports. They will inform you about exactly how you can benefit from implementing a blockchain in your business. In addition, blockchain consulting companies are always aware of the latest trends and can advise you to use the latest solutions.

  2. Take a look at their website. Get acquainted with the company’s portfolio: the projects they have implemented (their complexity, industry, technology set, etc.). It is also advisable to pay attention to customer feedback. They usually note what the team stands out among others, how quickly they completed the project, what methodology they used and the overall impression of the development and management processes. In addition, to get more information about a company’s professional competence, you can even contact their customers directly to get their feedback.

  3. Not cheap. Of course, development costs are crucial, and if you want to consider the financial aspects, that’s fine. However, do not look for the cheapest development services, because as a result you may be completely disappointed. Much better to just fix the project budget at the beginning.

  4. Look for a special team. Sometimes you can be embarrassed, upset or even frustrated when you need to remind the team of the goals of your project or pay attention to some mistakes that have not been corrected and keep repeating over and over again. Let’s face it, you don’t need these misunderstandings. That’s why look for a company that will provide you with a dedicated team.

A dedicated team will only work on your project, deliver it on time, provide all necessary updates and organize daily / weekly virtual meetings.

  1. Make sure the company provides special support services. You should know that just developing a blockchain program is not enough. It is a known phenomenon that all programs require ongoing support even after the deployment process is complete. Consider support services such as cloud hosting, technical support and bug fixes. A team of experienced developers will do their best to rid your business of unnecessary problems in the future.

So we have it. Next time, when thinking about which blockchain application development company to choose, don’t forget about these tips.

I wish you success!

Feel insured

Often reflections on the future social implications of decentralized technology present freshly differentiated images of some excellent methodologies that may be radically different from modern ones. Yet a decentralized record of centrally managed operations may instead be a marked degradation of both technology potential and development prospects. Without equivalent previous structural changes, the introduction of decentralized technologies in developed industries that want to reinforce rather than improve service offerings should cause us great cause for concern.

In the actually known business school anecdote the case of one of the first life insurance requirements is often repeated. Shortly after this type of policy became available, the owner of the life insurance policy actually passed away while applying for his high-paying protection. When the deceased’s family tried to claim, the insurer wrote a new definition of how their company calculated “one year” to [successfully] avoid settling.

Speaking of laudable industrial ingenuity or defenseless profits is likely to depend on whether it is passed on in a lecture on strategy or ethics. However, with this story in mind, we now turn to the introduction of blockchain technology in the insurance industry:

“ARLANDA, Florida. Blockchain technology has a future in employee compensation operations because this technology can improve communication and increase efficiency in the industry as a whole,” said a presenter at the annual National Insurance Compensation Council symposium. a decentralized peer-to-peer network that provides policyholders and stakeholders with a way to “generate, store, manage and share data as a reliable transaction record,” said Paul Misen, Head of Distributed Book Technology and Director of Swiss Financial Reinsurance Re and CEO of B3i.

The blockchain consists of a distributed book, a consensus that provides a “single version” of information, cryptography for secure and valid transactions, and smart contracts that are automatically executed under specified conditions, Mr. Misen said. In a traditional insurance system, the flow of information from insurer to insurer to reinsurer to the capital market is inefficient, he said. Mr. Meeusen explained how technology works to improve efficiency rather than collecting and studying data in individual systems.

“We work together, but we control our data,” he said.

To compensate employees, the blockchain can provide stakeholders with opportunities to share personal and medical information, providing a secure place to store and access data. The technology will also allow you to test computer coverage across a blockchain platform, he said. Blockchain also allows for real-time messaging and confidential information sharing across the industry, he added. “There’s definitely an efficiency component here,” Mr Mizyun said. May 19, 2018, Louise Esola, about business insurance

Blockchain can indeed offer a transparent, decentralized and unchanging record of digital data records. Possible extensions using automatically executed or complex “smart contract” events are also numerous. This is undeniable. The quality of the content may be something often forgotten or just falling under the excitement of technology.

Repeating existing methodologies with new means may mean abandoning opportunities for improvement. In other words, no matter which insurance policy is conducted centrally by the issuing company or recorded using decentralized technology, it says nothing about its practical implementation. The same issuing company has formulated and complies with the conditions.

The precautions, regulations, loopholes, and conditions of many insurance policies that prohibit payments to owners are too numerous to list here in detail. Suffice it to say that for many they are a recognized part of the insurance process. Now the constant digitization of the conditions of the insurance company with difficulties that may not be fully understood by individual owners of such policies, brings only benefits to the issuing company.

Here, rather than personal exchange, clarification or justification of any lack of understanding, here the unaltered digital consent of the owner with such a document is forever blocked. Although the transparency of the documents themselves can be established, the understanding and respect for the policy remains largely one-sided. The use of immutable records is useful only if sufficient knowledge of the meaning and implications of those records is available. The confusing and one-sided policy remains just that, whether the blockchain is turned on or off.

The very presence and survival of extremely lucrative insurance giants should hint at the structure of the business. Ultimately, like a casino, the company’s calculations and performance exceed our understanding of probability.

Like a round at the blackjack table, a player’s chance of making a profit or his satisfaction from the risk of participating himself outweighs what is essentially a guaranteed loss when measured on a sufficient time scale. The house always wins. That’s why it exists [well decorated and ornately furnished] the house itself. In addition to investment strategies, as well as many financial measures, the basis of its insurance coverage exists, because the house is betting that we, the insurers, are wrong.

For any business it is unprofitable to pay more than to receive. Thus, the choice of insurance is available and still available, as purchasing them over a sufficiently long period of time brings the issuing company more than it needs for them when paying.

This is not to marginalize the many potential benefits, protections and security provided by insurance offers. As is the case with car accidents, for example, when analyzing economic benefits, attention to experienced centralized machinations to solve may be simply reasonable and well worth the cost, especially given the possible time requirements of the alternative. It’s easy to say that in all home insurance offers [an insurance company] exists because it remains profitable.

If blockchain technology is seen as a panacea for the development and future of the industry, perhaps we should all take the first step back and ask if we really understand the policy before getting too excited about their constant record.

Blockchain: open source money

“Blockchains are just distributed transaction processing engines. The technology allows you to store data in a variety of places while tracking the relationship between different parts of that data. Most people who try to explain blockchains like to compare them to a book. A transaction such as a currency change or addition new device to the network, it is recorded in a chain, and anyone can track what happened. That’s why law enforcement is so fond of Bitcoin – digital footprints are easy to trace. Fortune Technology, Stacey Higginbotham, May 29, 2015

What if we lived in a world where global access to money was available to everyone? Money can bring the globe closer to the speed of digital technology as a decentralized and cooperative peer-to-peer process – a top-down banking system is not needed. Trust relationships occur automatically through digitally signed transactions without permission, destroying the inevitability of poverty. Will this be a huge step for humanity?

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

Ignore it at your own risk.

My article for May 2016, Power behind the throne, discusses the mostly imperfect but steady progress towards a cashless society using blockchain technology, and has thoughts on who actually wins. This could end in a giant leap for the banking industry, which will gain omnipotent control over our financial operations. Article by Bloomberg, Inside a secret meeting where Wall Street checked digital money, May 2, 2016, representatives of Nasdaq, Citigroup Inc., Visa Inc., Fidelity, Fiserv Inc., Pfizer Inc. attended. and others.

Enter 2017 and a documentary that is created for inspiration and admiration: The Blockchain and Us. Some say 2017 will be the year when this technology enters the mainstream; others say it’s just too risky.

The feature film presents “leaders” from around the world praising the value of open source money, grassroots and cultural bottom-up game changes initiated by bitcoins in 2008. Blockchain technology and its potential impact are comparable to how the introduction of the aircraft has changed society; It is said that the structure of the financial services industry in 20 years is 100% transformed into digital. It is also expected that blockchain technology:

  • Affect each industry as a “valuable” platform with military-level cryptology

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

  • Post what they called “smart” contracts

  • Make a profound shift in how the Internet can be used to create new forms of value and new ways to deal with value

  • Create new jobs through automation

Here you are … Blockchain and us. However, people like me cannot see commensurate personal gain. Give the meager financial privacy left to us to the Goliath banking industry? It seems to me we may have no choice, since “little” people seem to be a unit of income, just for travel.

However, using cash and paying as you go has obvious and perhaps less obvious benefits:

  • Choice

  • Confidentiality of transactions

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

  • Possible 5% discount on request

  • The fiscal responsibility that the use of credit has destroyed

  • Restraining the instant gratification of thinking is easy to encourage

  • More personal time, if you keep up with debt, means working harder / faster

I think life in the material world makes it easy to forget that the full definition of wealth involves more than just accumulation. The intangible riches of personal well-being and peace of mind are priceless until they are overlooked and underestimated. Instead of a utopian dream, imagine: we no longer make unnecessary purchases, with money we don’t have to impress people who don’t really care about us. If more people made a habit of using cash, we could strengthen our own money management skills towards creating real wealth, as well as send a message to those who own gold.

Can I create my own cryptocurrency?

So that you can create your own cryptocurrency, here are some things you should be guided by.

Build a blockchain

The first step to creating a better cryptocurrency is to create a blockchain. Blockchain technology is the foundation of any cryptocurrency you see in the world today. The blockchain contains information about each cryptocurrency.

This is a book that shows the background of every cryptocurrency that you have. It also shows more information about who previously owned the cryptocurrency coins. The best cryptocurrencies have very efficient blockchain technology.


All the software you see on the internet is made from code. This is the same case with cryptocurrency. Fortunately, most cryptocurrencies are produced using the same code. Mostly cryptocurrencies are produced using C ++ code. You can transfer all the codes you need to GitHub and use them to create your cryptocurrency. However, the code will be different from your features. If your blockchain is longer and faster, you need to add a program for it. Typically, programs can range from one week to several months when creating a blockchain.

In order to make a better cryptocurrency, you need to make sure that it has provided the highest level of security that needs to be monitored. Hackers are everywhere and you should always disconnect hackers. One powerful tool that has been used to alienate hackers is the use of private and public keys. This is because each key is generated from the previous key. With the help of cryptography, each key can be traced from the first completed transaction.

You should also make sure you have created a Miner pool. For a stable cryptocurrency like bitcoin? anyone can be a miner. The miner does two things.

-Creates a crypto-coin

-Authenticates cryptocurrency.

You need to form a standard way to create and authenticate your cryptocurrency.

Market access

Many cryptocurrency experts say the most important part is access to market needs. You need to be interested in and observe what other cryptocurrencies do not offer, and offer them yourself. If we consider the largest cryptocurrency on the market, then today is bitcoin.

It was formed for faster transactions in the online world. Bitcoin has also gained a lot of recognition because it has been able to hide the identity of users. They remained anonymous, but it was still possible to make a legitimate deal. These are the most important parts to consider when creating a cryptocurrency.

To make a very successful cryptocurrency, you need to make sure that you are able to properly market your cryptocurrency. This means contacting merchants and asking them to accept your cryptocurrency as a payment method. These are usually some of the best ways to create a cryptocurrency.

Blockchain for IoT in business

A new horizon in data exchange

Blockchain is a shared database for peer-to-peer transactions. The basis of this technology is bitcoin – a digitally encrypted wallet for transaction management and payment system, which was introduced in 2009. This transaction management system is decentralized and usually operates without an intermediary. These transactions are supported by a set of network nodes and are recorded in a utility book known as a blockchain.

The Internet of Things (IoT) is a cyberphysical network of interconnected computing devices, digital objects, and individuals with unique system IDs. The purpose of the IoT space is to serve a single point of integration and transmit data over the Internet without the need for human or computer intervention.

There is a complex relationship between blockchain and IoT. Businesses that provide IoT can find solutions using blockchain technology. A collaborative system can develop and record a cryptographically secure dataset. Such a database and records are protected from alteration and theft provided they are highly protected and protected from malware. The duo can create transparency and accountability by moderating business development mechanisms. The blockchain itself can help reduce workplace mismanagement, overhead and business unpredictability through interconnected servers. A digital book can create a cost-effective system of doing business and management where anything can be effectively shared, properly monitored and tracked. This process eliminates the need for a centralized management system that essentially eliminates many bureaucratic red ribbons and streamlines business processes. The commercial adoption of this innovation offers a broad platform for the Internet of Things and for businesses.

Blockchain essentially enables interconnected IoT devices to participate in secure data exchange. Companies and businesses can use the blockchain to manage and process data from end devices such as RFID-based assets (radio frequency identification), a machine-readable barcode and QR code, an infrared remote control (IR Bluster), or device information. Built into business settings, IoT edge devices will be able to transfer blockchain-based records to update contracts or verify the communication network. For example, if an asset included in the IoT and activated by RFID tags with a sensitive geographical location and confidential information is moved to another unspecified point, the information will be automatically stored and updated in the blockchain book, and necessary action will be taken if the system is assigned. As the product is promoted to different locations, the system allows stakeholders to find out the location of the package.

To enjoy the fruits of blockchain-based Internet of Things, businesses need to follow four basic principles:

1. Price Reduction

Edge devices should reduce transaction processing time and turn off IoT gateways or Internet intermediaries in the system. Because the exchange of data and information is transmitted in the system, excluding an additional protocol, program, hardware, channel, node or communication, reduces overhead.

2. Accelerate data exchange

The IoT included in the blockchain can eliminate the IoT gateway or any filtering device needed to create a network between the cloud, administrator, sensors, and devices. The expulsion of such an “average person” can enable peer contracts and data sharing. In this process, the digital book eliminates the extra time required to synchronize the device and process and collect information. However, eliminating the IoT gateway provides malware settings and security breaches. A blockchain-enabled IoT network can handle this by installing features such as malware detection and encryption mechanisms.

3. Building trust

Thanks to the Internet space included in the blockchain, devices and appliances can virtually and physically carry out transactions and communicate as trusted parties. Unlike a regular business, where transactions require approval and verification, the blockchain does not need central authentication and peer recommendations. As long as the network is secure and the trusted parties are technologically savvy, the IoT space does not require additional documents. For example, Team A may not know Team B may not have met physically and did not trust the trust, but a certified online transaction and information exchange report in the blockchain book confirms the reliability of the business. This allows people, organizations and devices to gain mutual trust, vital to creating pivotal business settings and eliminating administrative hassle.

4. Improving security for the IoT

Blockchain provides space for a decentralized network and technologies that promise to store, process, and retrieve information from their billions of connected devices. This system should provide a strictly secure network that is both encrypted and easy to use. A decentralized network should provide high bandwidth, resolution, low latency, and requests. Installing a blockchain in an IoT network can regulate and moderate the exchange of data across end devices, while maintaining the same secure transactions and information exchange of connected devices.

Eliminate failure points in the IoT space

The IoT included in the blockchain can upgrade the supply chain network by tracking labeled items as they move across different points of the store and import warehouse, allowing for both secured and accurate product delivery. Blockchain installation provides accurate and detailed product confirmation and tight tracking of relevant data along supply chains. Instead of finding paper trails to identify the country of origin (Io), the IoT can verify the physical confirmation of each product using a virtual “visa” that provides relevant information such as the authenticity and origin of the product. Blockchain can also make product checks and help organizations track or create record history. It can also provide secure network access for administrative records or alternate plans.

IoT with a blockchain enabled is not limited to corporate failures or use cases. Any business with IoT space can increase business performance by marginalizing costs, eliminating bottlenecks, redundant cycles, and single system failure points, updating process innovation. It is in the self-interest of such organizations to understand, adopt and implement blockchain in their corporate decisions.

Still ahead …

Opened by the Fourth Industrial Revolution (4IR), the enabled IoT blockchain is now the most dominant innovation after the integration of transistors and computing systems. It is the violation that welcomes the “second machine age” in terms of digitization and advanced artificial intelligence (AI). Organizations facing business are the main fans to enjoy the fruits of this revolution. It would be a pity if these organizations fail to realize the business potential of this mega-integration, which can bring intelligence to systems anywhere and everywhere. Along with the new integration, this system also accompanies important adaptation issues related to the distributed network, such as privacy and data network, security coordination, and intellectual property management. While many technology vendors are creating an open source framework to address these challenges, organizations and businesses should use and disseminate this technology to increase mobility and improve the integration of products and services.

The impact of the blockchain on our daily interactions and exchanges

Today, trust is the foundation of many of our daily interactions and exchanges. We put money in the bank, hoping that it is safer there. We provide information to each other on the grounds that they will not share it with anyone without prior permission. We also trust papers – money, land records, transaction information, etc. But these papers can be easily stolen, forged or altered. Nowadays, as we go to computerizing information, data can still be hacked and leaked easily.

A blockchain is a series of records or data that is distributed over a network of computers, so that no central computer or database contains information, instead each computer contains data, making it a completely transparent system. Why the blockchain is so impressive is due to its inconsistency. Each exchange, transaction, or record entered into the database is marked at times and scanned by a large group of tested computers before they are entered into a block in a chain of different exchanges, transactions, or records. After entering it, the information “block” cannot be changed or deleted, because it means changing or deleting the chain on all computers at once, which is almost impossible.

The social impact that blockchain technology can have is enormous and can be implemented to address many of the challenges facing the world today in a variety of areas. In most developing countries, agriculture makes up most of its GDP; however, many farmers suffer from a lack of money, land and a lack of various resources needed to farm. Even if a farmer owns a large plot of land, it is often incorrectly registered. Property names are also prone to fraud as well as administratively expensive and time consuming. Blockchain can be implemented to digitize land, and farmers will no longer need to be afraid of someone hacking into a database and committing land ownership fraud, as all forms of accounting will become more efficient.

The technology will not only inform you who currently owns the land, but can also tell you who previously owned the land, making it extremely easy to track property. Blockchain can properly update records of what part of the land belongs to which person and how much was produced from that land, allowing farmers to get the right amount of funding.

Among many other areas, blockchain technology can contribute to the healthcare sector. Keeping government records in health care is a constant challenge in many countries as it is not available to physicians and patients. By creating a decentralized “book” of medical data, we can remove the paper footprint in healthcare and make patient medical records accessible to patients and physicians easily and efficiently. It also got rid of the fear of medical cards. Such a change is not only convenient but also necessary as the privacy of the physician and patient becomes increasingly important.

Currently, the blockchain is mainly used in finance. Blockchain can accurately record transfers among people, and because each of the transfers is minimal and free, it can hinder today’s financial institutions from making money by charging for each transaction or transfer made. This creates a so-called peer-to-peer network in which a third party does not require a transaction.

In the financial world, this means that if a person wants to buy something, usually the bank and the place / site from which you buy will take a share of what you pay. And because there is no transaction fee in the blockchain or the transaction fee is small compared to the transaction cost, most, if not all, of the money goes directly to the creator or distributor of the product.

The same logic can be applied to the music industry. In fact, it is already being implemented today. Instead of a person purchasing a song through a streaming service such as Apple Music or Spotify, they will pay directly to the artist and receive the rights to listen to and use the music. This eliminates the need for an “average person” and makes each transaction only between 2 entities.

Here are just a few examples of how the blockchain can be used to completely change what was before, significantly changing our lives, our economy and our world. Blockchain is a multifaceted technology that can somehow be applied to virtually every business sector. Exciting technology that can change society for the better; a change that is not just convenient but necessary.

Blockchain hosting

The notable recent rise in bitcoin prices has revived the imagination of many investors, but Blockchain technology is not just about money. In this article, we will look at the significant impact this revolutionary technology will have on classic web hosting services.

The concept of cryptocurrency is not rocket science. In fact, this method of exchange is no more complicated than traditional currency. However, it nonetheless needs a secure and trusted environment in which it can operate, and this is provided by Blockchain.

What is a blockchain? There are many misunderstandings associated with this, but for the purposes of this article, we will simply define it as a distributed spreadsheet. We’re all familiar with Excel or Open Office spreadsheets, but what makes Blockchain so appealing is the way it spreads.

Like the files in Torrent, Blockchain is a peer-to-peer network where there is no need to provide trust between the parties. Thanks to modern cryptography, trust is instead maintained at the level of a single record rather than the participant receiving it.

Okay, now we understand the basics of the cryptocurrency revolution, but how, one might ask, does this affect hosting services? In fact, in its simplest form it involves not only selling your services in your local currency, but also bitcoin and other cryptocurrencies.

However, this is not the end of the revolution. Bitcoin and other digital currencies need e-wallets, and so a traditional web hosting provider has tremendous potential. If you trust customers and host their sites, then why not host their electronic valet?

Each cryptocurrency transaction is an actual transaction between two electronic valet. Each exchange is supported through a wallet and you can also provide an interface for customers to access it. This factor is crucial in order to fully understand the impact that Blockchain can have on your hosting business.

At the same time Blockchain – it’s not just money. The latest versions of its protocols also make it possible to enter into an agreement between the parties in any form, whether it be a subscription to cable television or any other type of account. They all need to be stored somewhere, and there is room for hosting companies to participate.

Therefore, a wallet is the key to making full use of the potential of Blockchain. Once you understand this, what will be the next steps?