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Many businesses are seeing the COVID-19 pandemic as a watershed for technology and innovation investment. Technology budgets have been reprioritized with a laser focus on near-term return on investment as a necessity for most. At the same time remote working, lockdowns, and supply chain challenges have accelerated digital transformations that otherwise might have taken a decade to achieve. Organizations also face mounting pressure to enhance their sustainability and ESG performance to such a level that small, incremental change will not be sufficient. So where does this leave the role of blockchain? Provenance Automotive supply chains are about as complex as it gets, with large OEMs needing to manage a global, multi-tiered network of suppliers and yet maintain visibility and adherence to an ever-increasing array of standards. Recently Groupe Renault along with Faurecia, Knauf Industries, Simoldes, and Coşkunöz, in association with IBM, have announced a new partnership to scale XCEED ...

Bitcoin , tokens, Ethereum, and stable coins oh my! These are a few names and phrases you may frequently hear when attempting to understand the emerging digital asset class. CNBC now lists the price of Bitcoin on its ticker but what does it all mean? And what are the differences? Finding clear-cut answers on definitions and capabilities of each nuanced digital asset is trickier than it should be. Whether you are a college student wanting to understand the craze or a seasoned member of the c-suite, more questions than answers often arise from independent research. Who’s utilizing digital belongings? One of the vital complicated facets of “digital cash” is the completely different phrases. The broad period we use to explain all digital belongings that relate to the monetary business is digital foreign money. The performance of digital currencies is much like that of bodily currencies. Nonetheless, there are benefits to using digital over bodily foreign money. One such profit is the...

Many businesses want to enjoy the benefits of blockchain regarding the visibility and provenance of the data. However, they don’t necessarily want nor need the complexity that comes with its decentralization feature. Our research focuses on simplifying the usability and reducing the management overhead for use cases where a trusted cloud provider operates the solution. Although some businesses might not need complete decentralization, they still require non-repudiation and provenance functionality. Despite clients’ trust in cloud providers, they are still mutually distrusted. We are building a centralized solution that offers blockchain properties while safeguarding correct behavior among clients. What are the advantages of blockchain technology for businesses? The basic advantages of Blockchain technology are decentralization, immutability, security, and transparency. Blockchain technology allows for verification without having to be dependent on third parties. The data structur...

What does it mean to “ own a Bitcoin? ” It means there is a recorded transaction on the Bitcoin blockchain where someone sent one Bitcoin to your public key address and that you (and you alone) know the address’s private key. Even if that terse description explains things, it does not help with the logistic details of how you go about doing this. It is complicated. But it is also complicated to physically buy and hold a bar of gold or a barrel of oil. You could make it happen, but it is work. Bitcoin, like many commodities, has been “Financialzed.” There are now financial contracts you can buy and trade that might be just as good as (or better than) having an entry on the Bitcoin blockchain. What do financialization and the growing role played by centralized cryptocurrency exchanges mean for everyday investors? Investing in Bitcoin by directly owning a Bitcoin on the blockchain creates a long position that appreciates as the value of Bitcoin (in US dollars, say) increases. If you ...

A cryptocurrency is what you call a digital asset. It uses highly advanced cryptography to manage currency creation, transfer verification, and transactions. It’s a general term that defines many cryptocurrencies out there like Bitcoin, ethereum, satoshi, and many more. It’s a very promising currency that more and more people are starting to use and accept. Proof of that is an increasing number of people that are using it. Proof of that is the acceptance of forex to these cryptocurrencies and you can easily trade in it on the various forex platforms. Ideally, it aimed to be the currency of the future that is not bound to any country and its respected laws. But why is that despite its milestones over the years and growing popularity, it still not has achieved its ultimate goal? 1 Most people don’t understand If you ask people on the street what cryptocurrency is, most probably they can tell you what it is. But, if you go to the more technical question their answers start to get sh...

Banking as we know it is going through one of the most revolutionary and world-breaking changes it has ever been through, and it’s all thanks to blockchain technology. Of course, blockchain technology first came into the mainstream when Bitcoin exploded in value almost a decade ago, but the technology has come a very long way since then. With more people, businesses, and services now implementing blockchain technology and using cryptocurrencies, traditional banking systems are struggling to keep up with the change. In most cases, these banks will either have to implement and integrate blockchain into their services or be left behind. To give you an idea of how blockchain technology is both disrupting and enhancing the banking industry, here are the changes you need to know about. 1 Making payment across borders Making payments across the globe using traditional systems and methods has always been an incredibly slow process. Sure, companies like Visa and plenty of banks are try...

What is Blockchain Wallet? A blockchain wallet is a digital wallet that allows users to store and manage their Bitcoin and ether. A blockchain wallet allows transfers in cryptocurrencies and the ability to convert them back into a user's local currency.   The wallet is accessible from web devices, including mobile ones, and the privacy and identity of the user are maintained. So a blockchain wallet provides all the features that are necessary for safe and secure transfers and exchanges of funds between different parties. E-wallets allow individuals to store cryptocurrencies. In the case of Blockchain Wallet, users can manage their balances of two cryptocurrencies: Bitcoin and Ether. Creating an e-wallet with Blockchain Wallet is free, and the account setup process is done online. Individuals must provide an email address and password that will be used to manage the account, and the system will send an automated email requesting that the account be verified. Once the wallet ...

Anyone who has been involved with the development of new technology for business applications has most certainly come across blockchain at one point or another. This rapidly evolving technology has become a main fixture in modern technological development. Ten of the world’s largest companies are exploring blockchain-based solutions to a variety of problems. In 2018 the Initial Coin Offering (ICO) market came in at $6.3 billion, a 5% increase over 2018. The fact that blockchain is being so widely used is a testament to its technological value. It has been implemented in FinTech, AI, Cryptocurrency, the Internet of Things (IoT), Insurance Claim software, Healthcare, and many other fields, and for good reason. 1 What is blockchain? Blockchain is a decentralized virtual ledger that is incorruptible and distributed across many machines. Anything that is recorded on the ledger will be verified by numerous computers all connected to the particular network. No one individual machine ca...

The United States Securities and Exchange Commission (SEC) is in charge of regulating financial markets in the U.S., and they have jurisdiction over new ICOs when their investment products are sold to American consumers. While it’s possible to create an ICO that’s legal in the United States, the SEC follows a set of rules known as the Howey Test to determine if the ICO is tradable security or not. ICOs that fail the Howey Test is subject to all the same regulations as public stocks, and they must be registered and follow strict securities law. The financial and logistic burdens of creating compliant, publicly traded security are high for most companies, let alone startups on the blockchain. Therefore, if you want to launch an ICO that’s available to American consumers, it has to pass the Howey Test. Regulations in the European Union also closely mirror the Howey Test’s guidelines. This article is not legal advice and shouldn’t replace hiring a lawyer if you’re launching an ICO. Howev...

The ICO explosion of the past year can be mostly attributed to the growth of the Ethereum blockchain, and the ease with which Ethereum permits the creation of new coins. Many startups have raised millions of dollars on Ethereum with little more than a concept and a white paper, circumventing the traditional routes for seed funding from accredited investors. While there’s some controversy over how to classify and regulate these ICOs, it’s clear that a new alternative model has emerged for early-stage funding. By and large, that model is based on the capabilities of the Ethereum blockchain. Creating an ICO: Limitations of the Bitcoin Blockchain An ICO is essentially a program that collects cryptocurrency from contributors and, after reaching a target amount, distributes newly created tokens to the ICO’s contributors. To do so, the ICO needs a system that can be programmed to distribute the tokens without outside input. An ICO relies on common programming commands like conditional sta...

You want to start your Bitcoin exchange, but don’t know where to start? Well, you have come to the right place. This article intends to clarify which things you need to consider before you want to launch your own Bitcoin/cryptocurrency exchange, how the internal architecture of exchange software should be structured, and most importantly, where to get your exchange software. How to Start a Bitcoin Exchange   1 Establish the operational scope of your exchange Whether you want to operate globally or confine yourself to a specific region or country, you will usually be required to get the necessary licensing and approvals for your company to open a Bitcoin exchange according to your operational scope. Laws vary from place to place; hence, consult with a legal expert regarding the licensing and compliance with local laws and regulations. 2 Review the country’s regulations and compliance requirements Almost all governments require entities that are involved in the currency exc...

The start of 2020 has been one for the history books. COVID-19, or the novel Coronavirus Disease, has rapidly infiltrated almost every country. In response, the global economy has seemingly come to a halt as many countries have shut down non-essential business operations to prevent the spread of the disease. The effects of COVID-19 expand far beyond health issues. While COVID’s impact on our immune system is no doubt frightening, the economic implications of the necessary shutdowns will likely continue long after the disease is under control. Governments are launching unprecedented levels of stimulus. To counteract the economic blow of business shutdowns, governments are providing previously unseen amounts of stimulus to both citizens and businesses alike. Trillions of dollars in the form of grants, loans, tax deferrals, and other types of relief are entering the worldwide economy to keep it afloat. Unfortunately, unemployment rates are skyrocketing, as well. While the tri...

With the rising appeal of multi-choice payments in the eCommerce and retail market, businesses need to rethink their approach in regards to providing customers with versatile purchase options. Whether you aim to integrate cryptocurrency payments into your business shortly or already feature several prominent currencies as payment methods in your company, the appeal of implementing digital currencies is certainly there. According to SoftwareFindr, 4.68% of millennials have invested in cryptocurrency acquisition of some kind, while 78.95% of cryptocurrency owners have acquired their coins through peer-to-peer purchases. However, just like with any form of technology or financial feature, cryptocurrency’s implementation will inevitably lead to different pros and cons for your business. With that in mind, let’s dive into the advantages and disadvantages of featuring cryptocurrency payment options for your business going forward. Pros 1: User-friendly versatility Giving your customers ...

A cryptocurrency is what you call a digital asset. It uses highly advanced cryptography to manage currency creation, transfer verification, and transactions. It’s a general term that defines many cryptocurrencies out there like Bitcoin, Ethereum, Satoshi, and many more. It’s a very promising currency that more and more people are starting to use and accept. Proof of that is the acceptance of forex to these cryptocurrencies and you can easily trade in it on the various forex platforms. Ideally, it aimed to be the currency of the future that is not bound to any country and its respected laws. But why is it that despite its milestones over the years and growing popularity, it still not has achieved its ultimate goal? 1 Most people don’t understand cryptocurrency If you ask people on the street what cryptocurrency is, most probably they can tell you what it is. Even if people understand what crypto is, some don’t know how it works. If you compare it to the current currencies that va...

There’s a good chance you’ve seen at least some of the headlines by now: Bitcoin use causing huge CO2 emissions | Bitcoin Mining Guzzles Energy—And Its Carbon Footprint Just Keeps Growing | Bitcoin’s climate change impact may be much smaller than we thought Bitcoin’s effect on the environment has been a hotbed of discussion, dating almost all of the way back to when the cryptocurrency first launched in 2009. And now, over ten years later, researchers are still having trouble agreeing on an answer. What is Bitcoin’s carbon footprint? Depending on which study you cite, Bitcoin’s carbon footprint ranges from as little as 22 annual megatons of CO2 to estimates of over 50 megatons each year. Although numerous factors contribute to Bitcoin’s carbon footprint, it’s the network’s mining activities that have the most substantial effect. Stationed around the world, Bitcoin miners consume a massive amount of energy to verify transactions and maintain the network. According to Digiconomi...

The global popularity of blockchain and cryptocurrency has been on a slow but steady rise over the last decade. After the Bitcoin boom in 2017, where prices reached a high of around USD$ 20,000, the value of Bitcoin has stabilized to around four figures. Continued interest in the cryptocurrency market has also led to the rise of alternative coins like Ether and XRP, as well as stable coins like US Coin and Gemini Dollar. Blockchain is the foundation of cryptocurrency, but its use isn’t limited to finance alone. The technology has further uses in politics, communication, health, economics, and other fields. The range of possible uses for blockchain technology is such that governments across the globe are beginning to adopt the technology beyond the scope of finance. For example, the Australian government worked with Civic Ledger, an organization that focuses on civic applications of blockchain technology, to use blockchain to verify water trade and update state registries in real-tim...

Blockchaintechnology is a chain of blocks used to store and transmit data in a distributed manner, creating a decentralized data ledger. Despite the relatively early development stage, blockchain solutions in the energy sector are highly potential. Energy companies, ranging from utility providers to oil and gas enterprises are recognizing the transformative impact of blockchain technology. Blockchain technology has the potential to transform the energy sector. The energy industry has been consistently catalyzed by innovations including rooftop solar, electric vehicles, and smart metering. Now, the Enterprise Ethereum blockchain presents itself as the next emerging technology to spur growth in the energy sector through its smart contracts and systems interoperability. Of the many use cases for blockchain, energy and sustainability are often less recognized. The main benefits of blockchain in the energy sector are: Reduced costs Environmental sustainability Increas...