If you are a U.S. resident that invested in Bitcoin or other cryptocurrencies in 2017, you may have recently received a tax document from the trading platform or cryptocurrency exchange you use and may need to pay taxes. While there is currently very little guidance on the taxation of cryptocurrency, one thing is clearly defined. The Internal Revenue Service (IRS) views cryptocurrency as property for tax purposes. That means you likely received a tax document because you either experienced a capital gain on that virtual investment in 2017 or received cryptocurrency as compensation, which is seen as ordinary income to the IRS.
For practical purposes, the IRS has issued guidance defining cryptocurrency such as Bitcoin and Ethereum as virtual currencies. This guidance is subject to interpretation, but for most people the main things to consider from a tax perspective are:
- How long you held your Bitcoin or other cryptocurrencies from purchase to sale? If held for less than a year, any profit may be liable for short-term capital gains tax. If held for longer than a year, any profit may be liable for long-term capital gains tax.
- What is your tax filing status and taxable income? That will determine your tax bracket and the tax rate on any Bitcoin profits.
- What is your state tax rate? That will determine how much you may owe in state taxes.
Bitcoin Tax Calculator Instructions
Part 1: Enter Your Personal DetailsStep 1: Select the tax year you would like to calculate your estimated taxes.Step 2: Select your tax filing status.Step 3: Enter your taxable income excluding any profit from Bitcoin sales. For most people, this is the same as adjusted gross income (AGI).Step 4: Enter your state’s tax rate.
Part 2: For each Bitcoin sale within a tax yearStep 1: Enter the purchase date and purchase price. The purchase date can be any time up to December 31st of the tax year selected.Step 2: Enter the sale date and sale price. Make sure the sale date is within the tax year selected.Step 3: Repeat for all Bitcoin or cryptocurrency sales within the tax year selected.
Example Bitcoin Tax SituationThis example calculates estimated taxes for the 2018 tax year for a person that made two sales. All values are in USD.Person A Tax and Finance Details2018 Taxable income – 80,0002018 Filing Status – Single2018 State tax rate – 5%Transaction #1On Feb. 1, 2018, Person A sold Bitcoin for a total of $10,000. That Bitcoin was previously purchased on June 1, 2017 for $5,000. Since it was held for less than a year, the $5,000 profit is subject to short-term capital gains tax rates. Based on Person A’s filing status and income, the taxes are calculated as follows:
- The first $2,500 in profit is taxed at the 22 percent federal tax rate.
- The remaining $2,500 is taxed at the 24 percent federal tax rate.
- The entire $5,000 taxed at the 5 percent state tax rate.
- The entire $7,000 is taxed at the 15 percent long-term capital gains tax rate.
- The entire $7,000 is taxed at the 5 percent state tax bracket.
Article written by TaxAct
Universal Games Token, a platform for creating and supporting game projects using Blockchain technologies
Since the first eSports tournament organized in 1980, known as "The Space Invaders Championship" that had 10 000 participants and received widespread media attention, the video game industry started to become more and more popular. When the '90s came around with the world wide web and mass adoption of PCs in households, the internet started to connect gamers from all over the world.
The emergence of Video Games Tournaments
When Starcraft came out in 1998, it was just a matter of time until it was considered a national eSport in South Korea, where it had an active professional competition circuit. At the turn of the millennium, major international tournaments such as the World Cyber Games and the Electronic Sports World Cup were launched, followed by the Major League Gaming (MLG) in 2002, being the current largest esports league today as well as the most generous in prize money awarded. In the later of the decade, the rise of Defence of the Ancients (Dota), a mod originating from Warcraft 3: Reign of Chaos, would result in the true birth of the MOBA genre. Now popular games such as League of Legends continue on the MOBA formula and have huge followings as well as players on a daily basis. Not to mention the hyper around Counter Strike 1.6, that later moved to Counter Strike: Global Offensive (CS:GO).
Rise of the eSports
In 2017, the total eSports prize money awarded out amounted to $110.6 million from a total of 3765 tournaments according to the esportsearnings.com website. The biggest prize pool from a single tournament was $24.6 million at The International 2017. Aside from this, the video game industry alone could be worth nearly $138 billion by the end of 2018, as technology expands with video content products, virtual reality, special events and video game tournaments. Aside from the buy-to-play and pay-to-play revenues, users also make in-game purchases to improve their gaming experience. In the near future, the video game industry is expected to grow even further, thanks to its huge fan base, influencers and streamers.
When Video Games and Blockchain Industries Collide
The fast development of the blockchain industry has opened many doors that allow us to build a better alternative to existing products on the virtual world. The secure and transparent environment provided to us by this technological breakthrough allows us to build things like never before and take existing industries one step forward towards their evolution. Projects build on top of the blockchain technology greatly simplify our lives by providing modern solutions to rusty technologies and old problems. Here is where Universal Games Token comes into place by bringing together two powerful industries: video games and blockchain.
What is Universal Games Token?
According to their White Paper, Universal Games Token will develop tools that enable game publishers, game servers, and communities to manage virtual goods and in-game items across multiple platforms. Monetization using UGT will be a key focus with robust features and toolsets provided. Great benefits will be gained by utilizing a decentralized platform and the supporting frameworks.
Revolutionizing the Video Games Industry
Universal Games Token (UGT) comes with a modern approach to aid all parties involved in the gaming process. In the context of a growing market, where users purchase in-game currency they can later use for in-game purchases, UGT comes with an innovative universal solution for existing games. Users can buy and sell items without the risk of fraud and trade between gaming items from different games. UGT can be bought, sold or earned by completing certain task and you can explore all the benefits provided by the blockchain technology in their White Paper.
Universal Games Token will be adopted by three existing games on the market, with a strong community of users built around them. As the project advances, there will be more and more adopters over time. They will replace their in-game digital currency with UGT Tokens, thus ensuring the stability of the token.
MarketGlory is in a unique position because of our large existing user-base. The game is not merely a strategy game, it encompasses entrepreneurship, social, political and military abilities in a unique user experience.
GoalTycoon is an online football manager game playable on your browser from wherever you are. In it, you can manage your own football team and upgrade your stadium and other club related buildings for more benefits for your team.
Cave to Kingdom
CaveToKingdom is a unique approach to strategy gaming. The game comes in the client version and it is a 3D mass-online strategy game that everyone can enjoy.
The player starts as a Prince or Princess who manages to escape from the clutches of the cruel powers invading the Kingdom. The only help are two servants that have sworn to obey and protect the player and what he stands for.
Universal Games Token is built on top of Ethereum, using Geth. The use of blockchain technology enables transparent transactions, without fraud, chargebacks or cancellations. There will be minimal fees for blockchain transactions and no commission fees. Users will have access to a smart wallet for easy automatic payment. Users can also prove ownership of items by showing them off in website widgets/wallets.https://www.youtube.com/watch?v=vyxi5JdmSco
Universal Games Token is a solid project that comes with modern solutions to bring the video games industry to the next level. The layer of trust provided by the usage of the blockchain technology and the existing demand in the form of three early adopters will slowly encourage more video games to adopt Universal Games Token and the success of this amazing project will have its role in the worldwide mass-adoption of cryptocurrencies.
You can find more about Universal Games Token on their website: https://universal.gamestoken.io
Since the emergence of Bitcoin a decade ago, the crypto world has grown into an entire industry, enabling the emergence of multiple products and services around it. New projects built on top of the blockchain technology that are currently undergoing ICO (Initial Coin Offering) or STO (Security Token Offering) have found a really popular method to promote their ventures: airdrops.
What is a Crypto Airdrop?
At an Initial Coin Offering (ICO) or Security Token Offering (STO), marketing plays a crucial role for the good success of it as it allows to highlight and give visibility to a new project.
This new mode of advertising is much less expensive than a classic advertisement since the ICO pays its own tokens, which ultimately will have values only if the latter actually sees the light of day.We can then classify airdrops into 3 distinct categories:
1) Tokens from a Fork that is vulgarly the creation of a new currency after a blockchain has split in two. Example: The Bitcoin Fork on August 1, 2017 gave birth to Bitcoin cash with a ratio of 1: 1.
2) The SNAPSHOT which consist of a free distribution of a cryptocurrency with a predefined ratio provided that it has beforehand another cryptocurrency.Example: The IGNIS snapshot for NXT holders that took place on December 28, 2017 with the ratio of 2: 1.
3) The "classic" Airdrop, the one we know best and which we will treat in this article. It consists of a free donation of a crypto in order to increase its visibility and notoriety.
Airdrops are a popular method for cryptocurrency ventures to promote their projects and raise awareness among crypto enthusiasts by distributing cryptocurrency tokens to their wallets free of charge. However, they usually require their users to perform a number of tasks in exchange for their tokens, such as liking, sharing, following or commenting on their projects social media accounts. Airdrops are usually not organic growth and do create a powerful buzz on a project to create a community and reach social credibility.
For users performing the tasks; it is a great way to get free tokens and potential free gem. This year; a couple of airdrops have been solved over 200$. There is even one that has been sold over 2000$.
Why only make quality Airdrops?Every day, there are new airdrops. as you can see in the chart above, their numbers have increased dramatically in less than a year.
The new ICOs understood that marketing was essential to get some visibility among so many new projects.
The problem is that many of them are just simple SCAMs that only want to attract new investors to better steal them.
It is important to warn airdropers who wish to claim tokens at any cost via any airdrops. Indeed, a certain number of them, to say a lot, are pure SCAMs which, in the best case, will not pay you any token.
But let's go deeper into the thinking, often the ICOs at their airdrop ask you a certain number of tasks that can go simple Like on their social networking page, provide your email address, pass a KYC or download Application or Wallet.
If you participate in an airdrop SCAM, you will give your email address that will surely be used inappropriately (resale, pishing etc).
Worse still if you do a KYC, which is to prove your identity by submitting a passport or identity card; and in this case you do not know what will be the use (fraudulent) that can be made of it.
Last risk example and that of third-party application download or wallet that can be requested via an airdrop. While ICOs are verified and quality safe, those less honest can cost you dearly. All you need is a well-placed malware to infect your computer and give access to an unscrupulous person to your computer and the files on it and why not, steal your username and password to robe your crypto-currencies or personal data.
Using the Airdropers.io website, a team is entirely dedicated to the research work, with the slogan "Quality over quantity".
The Problem: Detect Quality and Reject ScamsOne of the biggest problems with Airdrops is connected to the fact that a lot of new projects are later proved to be SCAMs and they are using the user base of crypto enthusiasts to raise their awareness. Another problem is that some airdrops never pay for the tasks and just use their users to increase their social channels for free. For a common person; performing a due diligence on every airdrop and project is time consuming; requires good english understanding and finally; require a minimum of knowledge on how to detect red flags and good potential projects.
Fortunately, as a response to the existing problems, come trusted Airdrop platforms built organically by crypto enthusiasts that choose to provide only quality, valuable and verified projects among their users. Airdropers.io performs a heavy due diligence on every airdrop. They check the entire team on LinkedIn, they read the WhitePaper and have a set of criteria to look for red flags in it, they check the website and more importantly, they make sure that the airdrop is official and announced on official Telegram channels or Twitter/Facebook. When they do not have all the required information, they ask the official admin mainly in telegram to provide all required details. If the admin does not provided the required information, they reject to promote their Airdrop. Because they value their users, they only share valuable airdrops. Airdropers.io is proud of their quality and are presenting statistics of their work. They analysed 2669 Airdrops during last 9 months but are have published only 12.9%
They are also sharing; on a daily basis there reject on https://airdropers.io/en/airdrops-rejected so every user can keep a track on every new airdrop.
( Finally; they are one of the very first airdrop platform to offer a personal Dashboard so every user can keep a track on what they do and which airdrop is received.
The Airdropers.io platform is an all-in-one quality tool and saves a lot of time for people who want to earn free tokens by participating in various airdrops campaigns.
They are one of the very first airdrop platform to offer a personal Dashboard so every user can keep a track on what they do and which airdrop is received
In addition to quality, they have implemented a system that allows you to track the airdrops you make; this system informs you of the sending of tokens by the ICO and therefore of the reception of these on your wallet address.
It is more than useful since the groups to join on Telegram are limited to a certain numbers. So you know when you can also leave the groups you have joined to get his tokens and have room for new airdrops.
Airdropers currently share their airdrops on their Telegram group @airdropers_io and the french version @airdropfrenchies, where a big community of active users have gathered, united by the desire to participate in quality Airdrops and discover interesting projects. To raise awareness of the Airdrops they promote, aside from their groups and social channels, their Airdrops are shared by partner channels such as Airdropalert.
Last but not least, the Airdropers.io team offers its users the opportunity, once registered on the platform, to enter their referral link and thus easily get more tokens.
Indeed, each page load, the link used for referral of airdrops change; the users have 50% to have one of the community member link taken.
Each member has an equal chance to get there link used.
In the other hand, airdropers.io has 50% to have his referral link taken.
The Airdropers team is proud to be able to share with its users the tokens possible gains thanks to airdrops.
Bitcoin has always been one of the more volatile topics of discussion. That is partly because of a lack of understanding of how it operates, its benefits, weaknesses and how to overcome them. Even so, it is impossible to quell everyone’s doubts when it comes to cryptocurrency, and especially Bitcoin.
One of the most controversial points of focus for Bitcoin is its security. Overall, the majority of people agree that Bitcoin offers significant protection and privacy. Unfortunately, due to the solidity of its security, there are those who claim that the protection provided is absolute – a statement that is very misleading. In truth, even Bitcoin has its shortcomings when it comes to security. Through this article, we have explored the ins and outs of Bitcoin security.
Although the blockchain is said to be hack-proof, the same cannot be said for user accounts. To use Bitcoin, you need an account, and for that, you need to register for a Bitcoin wallet. Each wallet is tied to a Bitcoin address, which is what is used to identify an account. This is a potential vulnerability.
Additionally, every Bitcoin wallet has a private key, which is used to access the wallet. Without the private key, it would be impossible to access one’s account. That is why hackers often tend to target the account holder. If a hacker takes over your private key, then you lose your account and your Bitcoin. This is why the wallet and private key are considered to be Bitcoin’s most significant weaknesses. So, what steps can one take to overcome such shortcomings?
Solutions to Bitcoin's security shortcomings
Cybersecurity lies at the root of the problem and can very well be the best solution. Although Bitcoin is said to be anonymous, it is still possible to trace a Bitcoin address back to you. The easiest way is by taking advantage of one’s IP address and using it to identify the device and location of the owner.
However, with that in mind, you can use a VPN to hide your IP address, assign a different IP address to your devices and encrypt your network traffic. To increase the effect of the VPN even further, you should use Tor over VPN, which reinforces the privacy, security, and anonymity afforded by both Tor and VPN.
Besides that, you should install an antivirus to scan your device and eliminate malware. Malware can be used by hackers to gather or manipulate information on your device. For instance, keyloggers can be used to track and record your keystrokes, thereby gathering information about your private key.
Protect your private key
Hackers often target your private key, so protecting your key already mitigates security risks significantly. Ideally, you should store the private key in an encrypted digital folder from where you can use the convenience of copy and paste. Doing so allows you the convenience of not having to type in the characters, which reduces the risk of theft of your private key through keyloggers.
Obscure your transactions
From a logical standpoint, if a hacker doesn’t have your address, then they can’t put in the effort to steal your private key. Unfortunately, hackers use numerous means to gather Bitcoin addresses such as stealing information from trade websites. That is why it is essential to obscure your transactions. There are various ways to hide your Bitcoin transactions, and the choice ultimately depends on your circumstances. For instance, you could use an online wallet, which doesn’t assign an address to every user. In case you already have an address, then you could exchange your Bitcoin with someone you trust and use your traded funds for your transactions, although this lowers the security.
Additionally, you might consider Altcoin and Coinjoin. The former provides a way to exchange your Bitcoin for Fiat currency securely, while the latter allows you to join hands with multiple other Bitcoin users and pull your resources together for your transactions. By pooling your resources together with various parties, a hacker cannot tell one transaction from the other.
Bitcoin provides users with a numerous security advantage. However, you shouldn’t assume that there are no weaknesses in Bitcoin security. Nevertheless, with a clear understanding of these shortcomings, it is easy to prepare effective countermeasures. With the countermeasures in place, Bitcoin becomes one of the most secure financial options available.
- Jeff Anderson
A study conducted at the University of Warwick showed that happy people are more productive. Their research showed that productivity among the happy people increased by an average of 12%, and reached as high as 20% above the control group. Not only are happy employees more productive, provide better customer service, and increased sales, but they are also more loyal. Happy employees are committed and will stick around longer than unhappy employees.
WHAT IS WELLMEE?
Wellmee is a mobile application which positively serves its users in various meaningful ways. From mentoring, advising, engaging, entertaining to relaxation. Its essence is to contribute to users´ wellbeing. It helps people to feel better and more fulfilled in their lives. There are eight areas which will be proposed to the user to enhance his/her wellbeing and tracked so it can be evaluated: positive emotions, active engagement, relationships, meaning and purpose, accomplishment, notice, keep learning and giving.
There are plenty of relevant studies which describes the issue with low productivity in workplace due to the lack of employee happiness and disengagement. Across all industries and sectors, disengaged employees can negatively affect the workplace causing an office to become toxic, companies to lose their competitive edge, or even startups to fail. These employees are essentially sleepwalking through their day by putting in time but not energy or passion.
Not only can disengaged employees create a negative work environment but they can also cause a company to lose money. According to a Gallup poll, actively disengaged employees cause U.S. companies between $450 – $550 billion in lost productivity per year.
Employers need to recognize the benefits of investing in employee engagement. The first step is to recognize that each employee’s perception of happiness varies from person to person, and this in turn affects their performance and interaction with coworkers and peers. Next, it is important to understand the motivation and psychology behind each employee’s perception of happiness as it relates to their style of communication and desired workflow.
Wellmee brings a mobile application which helps people live their lives better. On the other hand, it creates a unique ecosystem for employers and employees. Together with Wellmee tokens, it makes it possible for employers to reward the employees who use Wellmee app, because a happier person shows better results at work as well. By using the Wellmee application its users are constantly enhancing their wellbeing. The app can be used by every smartphone holder using either iOS or Android operational system.
Based on a complex algorithm and the metrics behind the application, employers will be able to see how efficient the usage of the application has been by their employees and based on this they will be able to reward their employees with Wellmee tokens – e.g. on a yearly basis. However, Wellmee application is purely private. It is only the user who experiences the content of the app. What happens in Wellmee stays in Wellmee. Employers will be only capable to get extracted data of tracking the progress of usage – the content of how and by what was the progress made will not be transferred to other parties by any way.
The Wellmee Token (WLME) sale is ACTIVE. It started on November 1st and will end on November 30th. The exchange rate is: 1WLME = 0.05 USD. The soft cap is set at $ 7.5m, and the hard cap is $ 25m.
Milan Vlcek is the Founder & CEO of Wellmee. He has more than 10-year experience as project & operations manager managing projects mostly within Big4 and financial sector. Prior to his current position, he worked in INSIA Europe SE and Deloitte Advisory and specialized in project management, PMO & expansion management of a Czech company to CEE region.
He works wih a very dedicated and motivated team of experts in various fields, including blockchain technology, psychology, communication, employee benefits professional, management and authenticity, life & conscious business coaching.https://www.youtube.com/watch?v=ElN3iiTS4-M
The Wellmee app is about teaching the user to take care of things around him – whether it’s a friend, relative or a bystander, whether it is a psychological or physical activity – all of them can be beneficial both to receiver as well as to giver. Since everyone is different the Wellmee app will help you only if you are as authentic as possible. Therefore we underline the uniqueness of every user´s app and that they can trust that no sensitive individual information will be transferred outside of the app. Long-term usage of our application will lead to improved levels of each of these areas for every user: Career, Social, Financial, Physical and Community wellbeing. From a wider perspective the app should have positive impact on whole of society where many people use this app.
For further information about this project, visit https://www.wellmee.com.
Lines of code replace physical cash. That’s probably a thing to expect in the near future. Soon, stories of widespread cryptocurrency adoption will circulate around. Although the prospects of it may appear worrying, it simply is not. It is just another technology that will transform the way we conduct transactions.
Blockchain constitutes the central element of this radical shift, which already took the world by storm since its unveiling in 2008. Disruption is real with financial technology already on the verge of a major turnover. Blockchain with its novel concept of distributed ledgers have already set in motion or precipitated such a takeover on a colossal scale.
However, the insistence is on fully digital currencies linked to solid cryptography to build the future of cash. The economies of the coming times will reap unique benefits by following the blockchain model. And not just banks or other financial institutions but everything linked to money like enterprises.
Globally, the potential of blockchain is viewed in a much broader sense. Enterprises were the first to realize its possibilities and hence have already set their resources to leverage this future-ready form of transaction. Taking advantage of it for your enterprise does require a brief know-how of blockchain and how it operates. And so, let us start from the very beginning.
The Blockchain Perspective: An OverviewFirst introduced to assist Bitcoin, a decentralized digital currency, Blockchain has ever since expanded its usage to other domains rather than cryptocurrency-based transactions. So, what is blockchain? You could search on the web, but they bring out a hoard of information that could baffle an ordinary person.
The first thing to understand is that blockchain is a technology made to simplify and make transactions fast, ultra-secure and transparent. There is no single payment platform or provider anymore that facilitates your transactions. It eliminates the authority by establishments, central servers or middlemen by linking you directly with the transactions.
Rather, it is distributed across a large array of computers over the network. The information concerning the transactions is recorded in blocks, which get linked to one another when updates or new transactions occur forming a continuous chain, thus the name.
An exact definition of blockchain goes on like: A decentralized and shared digital public ledger used to register transactions across peer-to-peer networks whether public or private. The ledger is shared among the members of the network that ensures greater transparency among all the transactions combined with robust and tamper proof security measures.
It is a record of a ledger entry represented by a data structure that resembles blocks linked to one another. Every single transaction that takes place, gets automatically recorded in the ledger cryptographically in blocks of information containing a hash. The computers that register this crucial ledger information constitute the ends of the network known as nodes.
Essentially, one can say that the block represents the area where transaction information gets inscribed permanently. And it is incorruptible and protected from any attempts to tamper the data, because of complex cryptography and its distributed nature.
Depending on the number of transactions, the network of blocks will grow to form elaborate chains. Whereas, the authentication of transactions is done entirely by the network of members. This linkage to one other forms the basis of the secureness of this technology.
Distributed Ledger Technology - The Essence of Blockchain
Blockchain is designed to distribute the transaction data across numerous nodes rather than one single centralized platform. The network remains decentralized with a peer-to-peer connection, where the participants can directly carry out, view, replicate and validate transactions on the shared ledger without a central authority or middlemen.
Distributed ledger technology (DLT) remains the underlying method by which blockchain functions. It exists as a form of synchronized digital database where all the transaction information remains shared among the members of the network. The participants validate and respond collectively for each change made to the records in the ledger.
The information gets encoded with a cryptographic signature or keys that makes it foolproof against any tampering or other forms of illegal access and manipulation. Distributed ledger technology is an evolution over the traditional methods of ledger keeping as it was replete with errors, loss of information and was not designed for easy use.
DLT were an advancement from paper into digital mediums that eventually shifted all forms of record keeping into computers spread over a network. The digitization of ledgers led to the advent of DLT where the entire process remains decentralized. Distributed ledgers quickly gained importance and made blockchain a more relevant technology owing to its following benefits:
Ultra Secure - A distributed ledger system does have a major plus point when it comes to security. Since the ledger is decentralized and distributed, the information registered gets stored onto the nodes, which effectively thwarts any attempt at intrusion or tampering.
Swift Transactions - The absence of a central authority or third-party platforms facilitated seamless transactions with zero hurdles. This speeds up the transactions, which also significantly reduces the costs involved in transactions of any sizes.
Multiple Applications - DLT does encompass not only finance but extends its applications to several other fields that involve massive transactions such as enterprises and governments, real estate, tax collection, electoral voting, to name a few.
Simplify Ledger Keeping - Record keeping in the traditional sense can make it prone to errors that lead to disputes among the parties concerned. A digital ledger can reduce the manual intervention required to maintain the records. This can reduce errors or duplication of information thereby simplifying and speeding up the process.
Transparent - In a distributed ledger system, every information and transactions that gets stored in the blocks remain fully transparent to the users. Any changes made to the blockchain system remain accessible to all the users allowing greater control and transparency in the whole process.
Distributed ledger technology has already been a major disrupting force in the financial industry. The increased transparency and accountability of transactions meant organizations can come up with innovative ways to provide rewards or incentives to their customers.
By eliminating the need for centralized authority or servers, it could prove to be of valuable aid in areas like stock trading, crowdfunding as well as facilitating simple transactions.
Blockchain Technology and the Enterprise
With the technology behind blockchain proliferating, what does it hold in the enterprise? Businesses do maintain ledgers that curate all the transactional details that go into executing its process and operations. And by incorporating a technology like blockchain, enterprises can considerably improve on their transaction time, strive for transparency, enhance security and eliminate counterfeit and fraudulent practices altogether.
However, what the studies and reports exclaim may appear pessimistic. Gartner in its 2018 CIO Survey, gives a dim view of blockchain adoption in the enterprise and cross-examines its hype. Only 1 percent of the CIOs actually plans for blockchain deployment in the enterprise. Whereas 8 percent are considering deploying blockchain or experiment with the new technology.
Even though the prospects as mentioned among the reports appear to pinpoint the limitations of blockchain, the technology behind is still revolutionary. It puts forth a new way to transact within an open, transparent yet highly secure environment. The pros of blockchain adoption among enterprises simply outweigh its cons, making it a viable technology to invest in right away.
Companies like American Express, JP Morgan Chase & Co, Apple Inc, Toyota, Tencent Holdings etc. have already begun experimenting with adopting blockchain technology to push forward their business practices. Each of these companies leverages blockchain in a different way.
For instance, BHP Billiton Limited, a mining conglomerate is experimenting with blockchain to refine its supply chain processes. Whereas IBM, the technology behemoth is going forward with multiple blockchain projects using the Hyperledger Fabric.
How Blockchain Aids your Enterprise
Blockchain technology with its transparent and robust digital ledger system will soon transform how enterprises execute their projects and transactions. Experiments are being conducted by companies globally to direct blockchain into use cases that dynamically improve their internal operations.
A disruption is being expected in future and its implications sound positive enough for companies to delve right in without a second thought.
Although the studies of blockchain adoption bring out dim prospects, it is relieving to hear that this incredible technology has backing from several Fortune 500 companies. For businesses that operate across several industries such as finance, retail, automotive, logistics etc, blockchain is all about security and speed that aids in the betterment of their operations.
The capabilities of blockchain are what appeals to most of the businesses operating in both vertical and horizontal markets. This include:
- A considerable reduction in the time taken from transactions
- Stringent security measures across all transaction protocols
- Detection and elimination of fraud, counterfeiting, and phishing
- Better transparency across all processes
- Promotion of customer loyalty
However, since our focus is on the overall advantages of blockchains in the enterprise, we shall cover things from that perspective. This helps to better understand and implement blockchain technology into your enterprise for driving innovation and growth.
Enterprise and Blockchain - A Mutual Coalition
With businesses across the world searching for new ways to shift their practices, blockchain represents an entirely different method to do so. The universal digital ledger with greater accessibility allows a shared consensus that will elevate every bit of an enterprise. Blockchain exists as a secure and reliable trading platform for carrying out transactions in a whole new manner.
And by implementing blockchain, it could really open up new possibilities to do business in ways that you probably never imagined. That is the potential of blockchain, which is set to disrupt not only the financial technology industry but the entire area of business on a global scale.
For some, the hype surrounding blockchain proves too much and have made a setback when it comes to actual implementation.
However, businesses should steer clear of being pessimistic about new entrants in technology and instead ponder over the possibilities that lie in their adoption. The transparency, efficiency, and security that blockchain proposes do, in fact, adhere closely to the crucial requirements of most enterprises.
Alongside that, leveraging a technology like blockchain enable a business to become increasingly competitive in this ever-changing and lucrative market.
Collaboration on a New Level
Inculcating blockchain technology step up how enterprises collaborate their practices and processes daily. Currently, there are collaboration tools specifically designed for the enterprise to coordinate work across its different levels and departments. Even though these office tools enjoy widespread usage and gaining adoption, they still face several limitations, which prevents companies from utilizing their full potential.
Enterprise collaboration tools and software still rely on a centralized administration system, which puts them at a disadvantage. The various intermediaries existing in between the system play a role in validating and coordinating the flow of processes. Such an approach slows down the process and prevents a smooth and linear course that puts numerous constraints.
Blockchain systems get rid of all these central intermediaries and put forth a model where information transfer and storage exist in a highly secure yet transparent manner. Information about employees and company projects could be stored and exchanged seamlessly leading to greater efficiency and speed in the projects.
Reinventing Contract Management
Apart from financial technology and cryptocurrencies, the applications of blockchain extend to numerous other areas. Every industry that depends on and utilizes contracts will tremendously benefit from integrating a blockchain system. The distributed ledger technology used in blockchain systems provides a highly secure and dependable platform, which enables the seamless autonomous, execution and management of contracts on a larger scale.
Digital businesses utilizing smart contracts will find the architecture of a blockchain system more convenient. The absence of a centralized authority or middlemen enables companies to easily facilitate the interchange of terms and other related information within the lifecycle of a contract.
Besides, the way this information is distributed within the ledger ensures that the contracts remain shielded against any attempts at tampering or modification.
Refined Efficiency, Auditability, and Speed
A blockchain system allows carrying out transactions at an accelerated pace. There are no intermediary third party or platforms and the transactions get executed directly. Instead of relying on conventional processes that involve paperwork and even specialized software, a blockchain based system could ratchet up the efficiency by which transactions get done.
Blockchain does this by streamlining and refining these operations from its core so that it would take even lesser time to successfully complete transactions. The use of a single distributed ledger does away with clutter as each information gets simultaneously shared with all the users. This eliminates the need for keeping multiple ledgers, which contributes to less clutter and a dramatic improvement in the efficiency.
Another area where blockchain aids enterprises are in maximizing the auditability. Each of the transaction data when procuring assets could be traced down from its origin thus ensuring a viable way to validate its authenticity. Several companies have already experimented with this technology to come up with accurate auditability.
In the diamond mining industry, blockchain technology is proving as a major disruption. Mining companies like De Beers, Fura Gems, and Everledger are using blockchain to directly track the origins of their diamond imports thus avoiding conflict diamonds and helping in stopping its circulation across the globe.
Into Blockchain Adoption
Reading through this, you may have got a faint or a complete picture of this exciting new technology. The blockchain is all about transparency and its use of shared digital ledgers essentially creating the future for all kinds of transactions whether in cryptocurrencies, finance or the enterprise. This could radically transform the way companies conduct transactions by making the overall process more efficient, swift and transparent.
Whatever the use case may be, blockchain helps in simplifying transactions, managing smart contracts or improving collaboration. This could assist in moving your operations forward in a more streamlined manner, which will help switch your business model into one based on transparency. But to put things into action, you need to audit your computing infrastructure and implement an appropriate blockchain system right away.
Blockchain is not a severely hyped technology as stated by different studies. In fact, the prospects that it puts forward simply brings out a new approach to conduct transactions and businesses in a better way. Moreover, it acts as a viable alternative over conventional processes by leveraging the most advanced technology to ensure that your business remains competitive enough in this rapidly changing world.Author Bio:
Tony believes in building technology around processes, rather than building processes around technology. At Fingent, he specializes in custom software development, especially in analyzing processes, refining it and then building technology around it. He works with clients on a daily basis to understand and analyze their operational structure, discover (and not invent) key improvement areas and come up with technology solutions to deliver an efficient process.You can reach him at firstname.lastname@example.org, Skype: tony_fingentFacebook: https://www.facebook.com/tony.joseph.148553Linked In: https://www.linkedin.com/in/tony-joseph-technology-partner/
Bitcoin is set to change the world's financial landscape and it's all thanks to blockchain technology.
What if we didn't rely on central servers, but instead on our own computers? What if all internet transactions were transparent and fixed?
Ecommerce businesses, especially, will enjoy the rise of blockchain. The technology will keep you ahead of the competition while endearing consumers to your brand.Infographic created by https://mofluid.com
Interview with Cristian Diaconu, the COO of Aryia
1. How did you have the idea to start ARYIA? Both me and Alex have been using smart speakers for a couple years now because they generally make one’s life easier, they’re very convenient to use and practical to have around. At one point we were just talking and started joking if those devices may actually be listening to everything that we say. And from a joke we actually started researching how smart speakers collect data and if they share it with third parties. That’s when we found out that there’s quite a lot of data being collected from us, without our direct consent and that’s when we became a little uneasy about the whole smart speaker aspect. Recent scandals are standing as a living proof that we were on the right path. So that’s when we decided to address this issue and create the first smart speaker focused on privacy.
2. What exactly is ARYIA and what makes it different from other projects? At Aryia, we are leveraging blockchain to disrupt the invasive smart speaker industry by building the first blockchain-powered smart speaker with focus on privacy while creating an entire ecosystem around it. We answer today’s data privacy concerns by giving users control over their data while also rewarding them for any involvement in the Aryia ecosystem. Rewards can later be spent within the decentralized voice-skills marketplace.
3. What can you tell us about Aryia Alpha? Aryia Alpha is a smart speaker that you can use just like you would use an Amazon Echo, but without feeling that you're being spied on or worrying that the device will leak your private conversations. However, if you DO want to share information, such as search patterns, music preferences or shopping lists, you will be rewarded with (AYA) coins and you can earn even more through the other rewards mechanisms. You can spend all these coins back in Aryia’s ecosystem by purchasing custom voice skills from the decentralized marketplace or you can sell them through an exchange.
4. How is the ICO going so far? Currently we opened up our private sale that will propel our project to the ICO stage and will also allow us to build our first prototype. More information about the ICO can be found on our website at https://aryia.ai
5. What are the most important milestones of this project? Our first milestone is to successfully complete the private investment round going on now, as well as the main sale of the ICO. After this stage, we are planning to start manufacturing and distribution for our smart speaker in Q4 2019, followed by launching the decentralized marketplace and AI in 2020.
6. What can you tell us about the token? We will launch our ICO with an ERC20 token. Later, we will have a token swap once we launch our own blockchain, 6-12 months after the ICO. The ERC 20 token symbol will be AYAT, with a total supply of 21 billion tokens, with an exchange rate of 1 ATAT = $0,01. We have a soft cap of $5M that will allow us to go into production and launch a working product and a hard cap of $40M that will help us achieve all the milestones listed on the website.
7. Behind every great project, there is a solid team. What can you tell us about the team behind the project? The founders behind the project are me, Alex Delibas and Anton Yushin. I am an early blockchain adopter with deep knowledge in entrepreneurship and experienced in working with Chinese hardware manufacturers. Alex (CEO) is the founder of an 8 figure online advertising agency & passionate about blockchain and its large-scale applicability. He will leverage his experience in advertising to help Aryia. Anton (Product Vision) is a seasoned entrepreneur with more than 15 years of experience in business. Our project started getting a lot of positive feedback from various industry leaders. Some of them joined us as advisors, such as: Ben Way, serial entrepreneur based in Silicon Valley, Gerald Friendland, AI professor at Berkeley University of California and Francois Poupard, Business Development Manager at Ethfinex.
8. What are the future plans of ARYIA? Our goal is to become the number one choice for consumers who are looking to take back the ownership of their data by utilizing our AI system, initially available on our own smart speakers and with future plans to license it for third party devices.
Cristian Diaconu With deep knowledge, experience and passion for entrepreneurship, Cristian helped multiple start-ups succeed and bring new ideas to fruition. As a blockchain early adopter, he dedicated time to study and explore practical applications for this innovative technology. At Aryia, he oversees the ongoing business operations, leads the product research and development efforts and focuses on building valuable partnerships.
[VIDEO] Raincheck – Global loyalty & rewards points exchange aggregator based on the Stellar blockchain
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Given the evolution rate of the smart speaker and IoT industries, it’s safe to assume they will become more and more present in our daily lives. Would you be willing to equip your bedroom or living room with an internet-connected microphone that could record and send all your conversations to the data-hungry server of a giant tech company or to a random person in your contact list? That is basically the privacy and security risk you’re taking when you bring home an Amazon Echo, Google Home or other smart speaker. Since the introduction of the Echo in 2014, smart speakers have moved from a niche domain for geeks and gadget freaks to an inherent part of the lives of tens of millions of people in the U.S. and across the world. Thanks to advances in artificial intelligence and natural language processing (NLP), smart speakers provide us with a hands-free and easy-to-use interface to interact with computers and accomplish tasks that previously required a display and input devices such as a mouse and keyboard.
The convenience and benefits of smart speakers are obvious, but like every other technology they come with their own trade-offs, highlighted by the many stories that have raised-and exaggerated-concerns about the security and privacy implications of having a smart speaker in your home.
WHAT IS ARYIA?
At Aryia, the mission is to create a fully decentralized ecosystem to manage your digital life, while prioritizing your privacy and rewarding trust and use of the network. This is being done by associating the two most innovating technologies ever created, blockchain and artificial intelligence, and creating the first ever blockchain-powered smart speaker: Aryia Alpha. Their vision is to become the first choice for consumers who are looking to purchase a smart speaker, while offering added benefits and key features that are currently not found in any of the competitor products.
In today’s smart speaker environment owning and sharing the private data that users are generating is all too common. This occurs while using any smart assistant or device and most of the centralized A.I. solutions deployed in today’s smart speakers. This heavily restricts external developer participation and forces consumers to accept A.I. implementations with no options for customization. This is where the developers of Aryia see a niche in the market.
Aryia answers today’s data privacy concerns by giving users control over their data ownership while also rewarding them for any involvement in the Aryia ecosystem. At the same time, it addresses the lack of creative innovation in the A.I. market by encouraging developers to create, publish, and distribute new voice-skills and modules on our add-on marketplace. This ends up with a fully customizable voice assistant powered by a decentralized token economy. Aryia aims to provide a powerful voice enabled A.I. solution for both individuals and corporations, either in the shape of a proprietary smart speaker or, in future, as a third-party device. The goal is to disrupt the smart-speaker marketplace and challenge today's security and data collection practices by letting individuals take control of their own private information.
Aryia will be addressing a true market need that has been ignored for the longest time, need that has also been the main subject of many recent scandals: data privacy. The first product will come out of the box with multiple unique features that not only will motivate consumers to purchase it, but these features also promote long-term use. This leads to multiple opportunities for increasing revenues. Aryia is making use of two emerging technologies: blockchain and artificial intelligence which are expected to have exponential growth of unseen proportions, so that mass-adoption is expected. It also has a client-centered business model, with applicable solutions for today’s concerns regarding data privacy.
THE TOKENThe symbol of Aryia token is AYA. Total AYA Supply is 21 Billion.Exchange Rate: 1 AYA = $0,01; Soft Cap: $5,000,000, Hard Cap: $40,000,000.
Behind this project stands a highly dedicated core team that is actively helped and guided by experienced leaders from industries of interest, which are part of Aryia’s advisory board. Aryia’s top management is represented by its core team and the 3 founders: Alexandru Delibas, Cristian Diaconu, and Anton Yushin. They are completely dedicated to the project since its inception and are expected to use resources wisely, pay debts in time, follow the financial plans listed in their WhitePaper and comply with the rules and regulations where Aryia operates. Future employees will be part of a team that envisions a future in line with customers’ needs and encourages creativity, diversity, professional growth and performance.
Another positive aspect is the team of Advisors, that contains experts in various fields. Ben Way is a world-renowned startup technologist, inventor and serial entrepreneur, Gerald Friedland is an AI Professor, Francois Poupard is Business Development Manager at Ethfinex, part of Bitfinex group, Jevin Maltais is the founder of Boomlabs.ai & Co-Founder of Aerial.ai, Andrei Popescu is the co-Founder of COSS.IO & SCX Holdings, Blockchain Investor, Sebastian Broways is the Head of Product at Mastermind Manager, product design strategy specialist and Philipp Sauerborn is an International Tax & Structuring at Dr. Werner & Partner. With such powerful experts with strong networking behind them in their Advisors team, Aryia has all the chances it needs to become one of the top ICOs of the year.
Aryia is building the world's first blockchain powered smart speaker with one main focus: keeping your data private. Aryia is a complex project that requires deep knowledge over multiple industries in order to completely understand its revenue strategy and revenue forecasts, industries such as data privacy, advertising, online marketing and artificial intelligence. This knowledge is required because Aryia has a variety of revenue streams.
You can find out more about this project by visiting their website: https://www.aryia.ai
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