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The Blockchain is the underlying technology of all the cryptocurrencies – mainly Bitcoin and Ethereum. The technology is full of potential to revolutionize everything that belongs to our daily life: billing systems, contracts to supply chains, and electronic medical records are just a few to name.

Understanding the Concept of Blockchain:

Blockchain primarily comprises of a system of distributed records which helps share information in a peer to peer fashion. The paramount reason behind Blockchain’s growing appeal is its security and verifiability. The system does not allow its users the deletion or updating the items from a Blockchain at later dates which ultimately creates a conclusive environment for digital transactions.

In essence, Blockchain works by allowing the users to add transactions to a block of code. After the addition of each transaction, a temper-proof audit log comes into place using a cryptographic hash. Meanwhile, all the participants at the blockchain network are presented with a replica of that block to help them validate their transactions.

Moreover, the technology also offers its users the automation of process such as payments, receipts, and invoicing for a smooth business process.

The Areas of Growing Interest for Blockchain:

Business interest in Blockchain is growing due to the potential game changing features it offers such as ‘digital mesh’. The Digital Mesh is basically an integration that occurs between individuals, content, services, and devices. The requirement of the new business model is to cope with the world that is tightly connected and Blockchain offers this exact same thing.

Another area of interest is the decentralized business networks. A large portion of the business is the dispersed participants across a network. For a smooth traffic of information from one node to another, we would need to automate the business transactions. Intriguingly, Blockchain can solve this problem for us.

The third most important area of interest is making business transactions more transparent. To achieve this, we need a way where we can conduct the transactions openly and with integrity. The Blockchain is the best option to do so.

What are the Key Areas of Use?

There are a number of areas in which Blockchain technology can help improve the modern business concept.

The ‘Smart Contracts’ of Blockchain allows a transaction to trigger an action within a business system without having the need of human assistance.

Example: Automatic creation of receipts for payments received.

Another area of use is the supporting product provenance. We can use Blockchain to track the progress of a product from delivery of raw materials to its final shape. Such as keeping track of suppliers, manufacturers, distribution, and finally the delivery to the end customer.

In conclusion, Blockchain undoubtedly has much to offer. However, the implementation of it is completely dependent on us. The sooner we find out a way to implement Blockchain, the better it is for our business community.

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Bitcoin balloons on overheated air

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Spotting bubbles have become a national passion after dot-come and the housing bubble burst in 2000 and 2008. Moreover, few year back investors use to spotted bubbles in gold, equities, credit, and bonds as well.

Here, I will not discuss b-word here to describe those investments. Accordingly, not even nominate any of them. I will give that division to digital currency named bitcoin and its brief Bitcoin Info.

Bitcoin has all characteristics of a bubble in making. First, it totally new. Second, a digital currency that allows the public to do transactions freely without any second party. Where the transactions are controlled by the proper network of computers.

British journalist Mike Dash in his book “Tulipmania” in 17th-century states; “It is impossible to comprehend the Tulipmania without understanding just how different tulips were from every other flower known to horticulturists in the 17th century.” Same sayings with the internet in the 1990s and about cryptocurrency today.

Second, bitcoin is something scary. Like, both parties took part in transaction process anonymously. Which is being the interest for scams, hackers, and criminals as well. Just like a mystery. Similarly, creator of the bitcoin goes by Satoshi Nakamoto, but it is totally unclear who that person is, or is that only one person?

It reminds the bubble in 1720 at the height of the England South Sea bubble, a company floated shares “For carrying-on an undertaking of great advantage but no-one to know what it is.” Definitely, investors do not stop investing in the company.

Third, the thing which makes the bitcoin susceptible is its value. An investment in Bitcoin gives the return of 351 percent annually inspection in July 2010 through Tuesday. To put that in standpoint, investment of $100 is equal to $3 million today. It’s totally an insane return from any investment like Bitcoin Battle.

Riding the wave

In 1720, a share price of the company South Sea rose up to 400 percent within three months and collapse quickly.

Digital gold

Bitcoin is not different from other commodities like gold, oil, vegetables etc. Nevertheless, government and currency market exchanges are standing behind the system. Whereas, with the commodities, investor hold the something at the end of the transaction process. However, bitcoin is something more speculative because it is a digital money.

This treatment is not only with all the investments. A shareholder is enabled to share the company’s assets, sale and purchase transactions. Same as bond’s payments of principle and interest.

This division of value allows many observers to warn that internet stock in the 1990s. In addition, during the housing bubble mortgage bonds were not safe. Similarly, this sort of statement is not possible about the bitcoin.

Good luck!

Tags: bitcoin investment trust

 

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U.S. ICO Token Trading: 12-Month Freeze Is Just Going to Begin

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A statement was released by the chief legal and risk officer at Coinbase, Mike Lempres, which shows how the market is setting up for the US crypto innovators as regulatory improbability and months of vicious market growth seems to be coming to a head at last.

Confirmation By SEC

A rumour has been confirmed by SEC last week that it’s has started to investigate startups and companies related to ICOs (initial coin offerings). Entrepreneurs are conceding on the idea that new cryptocurrencies have initiated, however, U.S. companies that are still trying to issue tokens as securities might not have an easier time reaching buyers. Last week, at the MIT Bitcoin Expo, the issue was presented in a panel that hit a sour note on the ICO token trading.

ico token trading

End of Utility Tokens

Well, the chaos in the market shouldn’t be really surprising. The SEC’s order to shut down ICO called “Munchee,” was a huge shock for the market, as it landed like a bomb, back in December. For a while, it seemed like the companies there started to think that if utility tokens couldn’t be sold to the public, they could still be given away. But at the same time, this is a violation of SEC there. It was reported that the rule requires buyers to be accredited investors, which means they have a networth of at least $1 million or must’ve earned $200,000 for the last two years.

There’ve been many contributors in the market that never believed how unregistered tokens could work under the laws of SEC. But on the other hand, it’s quite hard to figure out how a product that creates a tokenized VPN operates if those tokens are securities.

Trading and Liquidity

In the US, the final issue for ICO project is liquidity, no matter even if an exchange goes live. However, the problem is that there’s no integrated place to trade tokens that are registered with the SEC. Even though it’s been highlighted by many founders, but still, this doesn’t mean that trading is not possible, however, it’s not simple at the same time.

According to the CEO and co-founder of Templum, Chris Pallotta, there’s a chance that he might open a platform in few months, but with maximum security tokens, as he stated;

“I think the timing will work out pretty nicely.”

At the same time, that’s also pretentious that there are no extra holdups, and if there’s anything shown by the ICO space, then that might be a big if.  So in short, it’s going to take some time for tokens to get created within such time, no matter even if the Templum goes live soon.

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Online Internet Security – 10 Do’s And Don’ts To Stay Safe On Internet

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Tor is an open network and a free software which allows people to enjoy maximum level of security and privacy on the internet. Nothing comes close to Tor when it comes to hiding your identity while surfing the internet.

Tor hides your personal identity by routing your system’s internet traffic over several places on the internet. However, there are still some loopholes that you may want to eradicate in order to steer clear from any monitoring agencies.

In this article, we have discussed 5 Do’s and 5 Don’ts to enhance your online safety.

Related: Beginner’s Guide to Tor

Do’s To Increase Your Online Safety:

  1. Use Tor:

Anyone who is skeptical of the online privacy should never put his trust into people at the back of the internet such as ISPs, web service providers, government agencies, etc. Tor is the best browser for online anonymity and that’s the biggest reason why we recommend using it.

 

  1. Update Your System:

Tor is just another software which runs on top of your OS. Meaning that it is only as safe and secure as the system it runs on. We advise you to daily update your OS, Tor client, browser, email clients, instant messaging clients, etc.

If somehow, a hacker is able to get hold of your OS, then even Tor can’t protect your online privacy.

Related: The Truth Behind Whether Tor Browser Is Completely Anonymous Or Not

  1. Encrypt Your Data Storage:

Although Tor anonymizes your location, it does nothing to secure the digital data on your computer. Data protection on your system can only be achieved if you keep the data in encrypted form. So, make sure you use a strong encryption algorithm such as LUKS to keep your system from various threats.

 

  1. Disable Flash, Java, and JavaScript:

Using Tor with Java, Flash, and JavaSript leaves your data vulnerable to attackers. This is because these applications run with user account’s privileges which allow them to access/share your data.

  1. Delete Cookies And Local Data Of Site:

Tor browser hides your real identity using network packets and routes your traffic through numerous relays to protect you from traffic analysis. However, some websites may still be able to track your activities using cookies and data storage. In order to go complete anonymous, make sure your cookies and site’s local data is disabled.

5 Don’ts To Increase Your Online Safety:

  1. Do not use windows:

Windows is simply not best of the choices to improve your online privacy. The OS comes with several bugs and the loopholes that are present in the system and may leave you vulnerable to security issues. Rather use a Linux system for better Tor experience.

Related: Top 5 Proxies To Access .Onion Sites Wihtout Tor

  1. Avoid Using HTTP Websites:

The onion router is only a traffic router and does not encrypt the network traffic through the internet. This means that the origin of your network traffic is only anonymized inside the tor network and not outside of it; which results in exit nodes of Tor reading your internet traffic in the form of unencrypted data. The best way to avoid this is using end-to-end encryption such as TLS or SSL while on Tor.

  1. Do Not Use Tor Browser Bundle:

Do not use Tor browser bundle for online privacy under any circumstances. A recent FBI breakdown of freedom hosting (a hidden web hosting service running on Tor network) was only possible due to vulnerabilities of Tor browser bundle. So, make sure you are not using this bundle.

 

  1. Do Not Use P2P:

Tor network is not built for P2P file sharing as the exit nodes of the network are specifically meant to block file sharing. Plus, downloading torrents is considered abuse to the Tor network as it slows down the speed for other users browsing on the network and increases the threat to your online privacy. So it’s better to not use P2P on Tor.

 

  1. Do Not Use Google:

If you care about your privacy, do not use Google at all. Google is infamous for collecting user information and browsing data to aid the growth of its ads revenue. The best alternatives to Google for Tor are DuckDuckGo and StartPage.

 

Conclusion:

It’s not easy to steer clear when everyone is after your privacy. Despite all its vulnerabilities and weakness, Tor is still the best privacy tool we have for our online security. However, in order to bypass all these security threats, just follow the Do’s and Don’ts discussed above and you will be good to go.

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