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Blockchain Uses

10 videos to watch to fully understand Blockchain Technology

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The 10 most popular videos, which explains Blockchain Technology in a very simple manner, one can refer in order to understand it completely.

Top 10 videos on the internet community that would help gain the newbies, a grip in the blockchain fundamentals

The Blockchain Technology is inherently meant to be an internet of value and the traditional internet that we use today accounts to transfer of information. In simple words, Blockchain Technology is a protocol where the complete transfer of information takes place without maintaining its duplicate. On the other hand, the internet as we all know is a paradigm in which the clients receive a duplicate of the master copy on the server. The blockchain technology is originally meant to provide security features to any information by decentralizing it.

The most widely discussed topic and also the most bizarre one, demands a constant and special explanation in both simple and complicated manner at outer and deeper levels respectively. Below are the 10 most popular videos, which explains Blockchain Technology in a very simple manner, one can refer in order to understand it completely.

 

  1. What is blockchain?

The video posted by World Economic Forum offers a very intuitive way to understand the Blockchain Technology and the fields of application where it can be implemented. The explanation demands special attention as it is explained by one of the most respected economic forums around the world.

 

  1. Ever wonder how cryptocurrencies work?

The blockchain technology is explained by one of the ex-teachers at Khan Academy named San Anderson. The channel is specialized in explaining all the concepts in mathematics through animation. It concentrates more on the application of the concepts rather than just using the formulas to get a solution.

 

  1. Blockchain- A short introduction

The explanation starts with the need for money and the evolution of the blockchain technology from the cryptocurrency Bitcoin. It even goes further to explain how the Blockchain Technology can reduce the transactional costs along with providing digital identity to currency as well as any particular real-world object for that matter.

 

  1. Blockchain: massively simplified

The TED community is well known to conduct volunteer workshops on various life-changing topics. They provide explanations from the experts in that particular field. In this video, Richie Etwaru goes on to explain the evolution and need of the blockchain technology from the internet error goes on to explain the evolution and need of the blockchain technology from the internet era. He even clearly differentiates characteristic features of normal databases to that of a Blockchain Distributed Ledgers.

 

  1. What is Blockchain?

CNBC explains one of the most preferred and reliable news outsource media, CNBC comes forward to explain the amazing implications of the Blockchain Technology and the impact it is having on the real world. In the video, they agree that it is wrongly being used for the purchase of drugs and other illegal commodities. They even state a fact that how banks are worried that the technology what completely disrupt them. However, the video mostly concentrates on the positive side of it.

 

  1. How does Blockchain work- Simply explained

The video initiates by comparing the Blockchain Technology similar to a digital notary. The time Stamping mechanism of Information. Further, it goes on to explain, Bitcoin as an application of Blockchain Technology and how it prevented in solving the double spend problem.

 

  1. Blockchain, How it works?

With the increase in the global economy, the video illustrates the difficulties and the expenses required to maintain the huge cumbersome databases. It takes the shipment of a diamond, as an instance in order to explain the application of the technology apart from the finances. It puts forth the effectiveness that the technology offers in tracking any particular commodity.

 

  1. Blockchain – Demystified

Another awesome explanations buy one of the experts in the field at a Ted Talk. He begins to explain the origin of the internet along with Blockchain Technology. He cited that the outcome of Bitcoin might be a coincidence of the 2008s Economic Crisis.

 

  1. Why blockchain matters more than you think?

Coldfusion TV is an amazing channel that explains the most complicated stuff in most relaxed manner. It goes on to explain the working of the cryptographic features of Blockchain Technology. The video concludes by explaining the smart contract concept in a very simple fashion by considering a real-world scenario.

 

  1. How Blockchain will radically transform the economy

As the title suggests, the video explains the radicalization that the Blockchain Technology is bringing into the current deprecated economic conditions. Effective elimination of the intermediaries is also a key topic of discussion in the video.

 

Conclusion

We hope that these videos would provide an effective overview of the Blockchain Technology for the geeks who are alien to the amazing cryptographic based technology.

#Banking

Largest Banks Adopting Blockchain Technology

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The industry that is taking tremendous interest in Blockchain is the finance sector, especially the banks. They saw it as a competition.

The blockchain technology is prevailing for some years now but has entered the mainstream market in the last two years. As a matter of fact, for the last two years, the head of all sorts of cryptocurrencies has a valuation of $75 million, however, a bit of collapse is observed.

One sector of the industry that is taking tremendous interest in Blockchain is the finance sector, especially the banks. when blockchain surfaced, they saw it as a competition fearing they would automate control over the funds, but now they are warming up to the same technology.

 

Blockchain Receives Greenlight Among Banks

Banks and their employees have historically remained suspicious of how reliable blockchain technology for an industry like finance. However, that perspective has stirred dramatically in the last year, and they are making themselves familiar with the technology, also they are heavily enthusiastic concerning its possible uses.

Majority of the business administrators announce that blockchain is highly critical to their firm’s progress, and over the next three years, it is going to surpass over many functioning. The 2018 Consensus conference saw the developer and founder of FedEx’s, Frederick W. Smith said that Blockchain has the potential to ultimately transform business beyond boundaries. and edges.  

Large banks are performing substantial investments in varied initiatives including classified ledger technology.

 

List of some Banks Using Blockchain Technology

Let us have a look at some of the famous and global ranking banks who have bowed down to Blockchain. They are as follows

Santander:

The adoption of Blockchain will lead to a state where global banking sectors will be able to save more than $ 20 billion by the end of 2022. Santander has the same notion too. It was the first bank in U.K to utilize blockchain for developing international payments service. The devised a technology called One Pay FX which will enable customers to easily transfer money in between the Santander bank accounts in the continents of Europe and South America. Santander further conducted blockchain application for stockholder polling with JPMorgan Chase,  Broadridge, and Northern Trust.

 

HSBC:

The Hong-Kong Shanghai Banking Corporation has gone for a test before completely adopting the Blockchain technology. They have utilized a soybean shipment as a test for business sales and transaction. With the help of Dutch Bank ING and partnered with the Cargill, one of the foods and agricultural firm. HSBC has further used Blockchain technology and said the work was completed in 24 hours. It was the blockchain consortium R3 that HSBC laid their hands on.

 

JP Morgan Chase:

It will not be right if we whirled off reports, but JP Morgan Chase has a completely different unit for blockchain called Quorum. They have already tested a new application that can handle financial instruments and phantom-issues an amount of $150, each floating year with enormous deposits on the blockchain technology. Overall, with the help of blockchain, the banks are bestowing infrastructure between the participating factors. The issuers, dealers, investors, administrations, custodians will all be able to notice the golden truth behind the source for a debt instrument. This was the notion of JP Morgan Chase’s welcome to blockchain technology.

 

The Bank of Ayudhya:

It is Thailand’s 5th largest bank which managed a victorious pilot test last year in May to get the real-time foreign payments in conjunction with MUFG Bank (Japan) and Singapore’s Standard Chartered Bank, the multinational monetary services firm. The test supported a comparable force in which the bank accepted blockchain technology for money transfer among an oil firm in Thailand and its marketing ally in Laos.

 

China Construction Bank:

It has set out for promoting cross-border loans issuances for modest companies and everything was taken care of by Blockchain. The platform has till date generated over $251 million value of sales and transactions.

According to experienced investors, Blockchain technology can be an excellent way for international transactions. However, banks will not get enough space for charging tax and fees for transactions on foreign exchange in between a serious competitive pressure.

Due to the introduction of blockchain to the financial sector, it has been able to develop bases where banks can simplify and speed up cross-border debts, increasing speculation accuracy, authenticity, and shorter adjustment processes. Intelligent contracts have curated privileges with transaction processing by eliminating the middle man and will be used to develop reliability and remunerations operations.

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#Bitcoin

5 Steps to How to get Bitcoins and How to use Bitcoins?

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In this article, we will discuss 5 steps to How to get Bitcoins and How to use them. Many people who want to enter the crypto space ask how to get bitcoin.

Bitcoin has been a revolution in the finance market for the last few years. The market doesn’t experience so much extent of people towards a new kind of market in its initial phase. The bitcoin achieved a miraculous height in 2017. No one has ever imagined a new cryptocurrency to have a value of $19783! However, the market of bitcoin declined miserably in 2018, and today it has a value near $3560.

Many people who want to enter the crypto space often ask how to get bitcoin and how to use them.

 

In this article, we will discuss 5 steps to How to get Bitcoins and How to use them?

 

1. Introduction to Bitcoin:

Whenever you are going to invest in any financial firm, you must be well known to the platform. After going through the research about the investing platform, then only you should decide whether you want to invest or not. Similarly, you must have an introduction to bitcoin before buying and using it. Let us a summarized introduction about the bitcoin:

First, Bitcoin is not a fake currency. You shouldn’t have any confusion regarding the fraud of this currency.

Second, You can use the bitcoin for your daily transactions like stores, etc. However, no of stores accepting bitcoin is less today and will undoubtedly increase in the future.

Third, You don’t need third-party organizations such as a bank to have control over bitcoin. You are the sole controlling person.

Fourth, You must do transactions with care and with trusted people only as there is no kind of refund or reversing of a bitcoin transaction.

Fifth, All the transactions related to a bitcoin account are stored publicly, and anyone can see one’s bitcoin transaction with the bitcoin address.

Sixth, There are a lot of similar cryptocurrencies like Bitcash, Bcash, Bitcoin Cash, etc. You should not be confused over the resembling pronunciation of others with original bitcoin (BTC).

Seventh, Bitcoin values are subject to crypto space. Sometimes, it reaches the sky while sometimes it fell miserably.

 

2. Choose a bitcoin wallet:

Just like you need a wallet for carrying cash with you, you also need a bitcoin wallet for storing and using bitcoin. There is a lot of such bitcoin wallet in the industry. They may be a mobile wallet or a desktop wallet or a combo of both. Here we are listing some popular bitcoin wallet:

Blockchain Wallet: It is one of the most popular bitcoin wallets. Using this wallet is straightforward. The organization, stores the details of your wallet on their dedicated servers, hence involving a risk of the third party. Although it is very convenient to use, it maintains a high level of security for privacy and safety of your bitcoin wallet.

Circle Invest App: This is available on Android and iOS platform. Also, you can use this app only if you are a US resident. It is a well-designed app to serve as your bitcoin wallet efficiently. It has the features of secure transfer of money and link to your bank account. It is secure internally as well as externally too where you can have a fingerprint of Face-id lock on the app.

Coinbase Wallet: It is one of the largest Bitcoin wallets. It has a high level of security for your transactions. It provides an exchange for the software of merchant payment. People widely use it.

Trezor: It is a hardware bitcoin wallet that operates on the desktop, is as well as the Android platform. It has one of the easy to use wallet. The anonymity in this wallet is very high. It supports seven other cryptocurrencies apart from bitcoin. The security provided by this wallet is of very high quality. It costs nearly 180 Euro.

Trust Wallet: It works on iOS and Android platform. It also supports a total of 14 cryptocurrencies. The security provided by Trust wallet is similar to its name and is very trustable. Binance acquired it in mid-2018.

 

3. How to Buy Bitcoin:

After you have a bitcoin wallet, the next step is to buy bitcoins. There are a lot of sources where you can buy bitcoins. Here we list top 4 exchanges from where you can buy bitcoins.

Poloneix: It is a cryptocurrency to cryptocurrency exchange. It is based in the US. There is high-level security in this exchange. The fee for trading is 0.2% whereas, for deposit and withdrawal, it depends on the blockchain

Kraken: It is a crypto exchange where you can link your bank account and can add money for bitcoin by deducting from the bank account. Also, you can do the transaction of bitcoin from one account to other using this exchange.

Coinbase: It is one of the largest exchange for the crypto market. People can buy bitcoins via linking their bank account. Also, the transaction is secured by some high-level security. It is used in the US, Canada, and some European countries too.

Binance: It is the largest exchange for cryptocurrency in perspective of trading volume in the world. It provides an exchange of more than 100 digital currencies. It also has some of the acquired wallets such as trust wallet. It is secure and easy to use.

Alternatively, you can also earn bitcoin. Suppose, you are seller then you can ask your customer to pay using bitcoin. You will need some merchant bitcoin account to link with you.

You can use these options for earning bitcoins:

BTC clicks: An easy to use merchant for earning bitcoin.

Bitpay: A widely used merchant to get invoice and transaction details of bitcoin received from customers.

Coinbase merchant tools: A trustful merchant which is a subsidiary of Coinbase exchange.

CoinPayments: A payment gateway to receive bitcoin from your customers.

 

4. How to use Bitcoin:

Once you have a wallet as well as bitcoins, you will think to use it. Well, you can use bitcoins in several instances such as paying rents, paying at stores, buying vehicles, etc. There are a lot of firms which accepts bitcoin such as:

Purse.io: It is an online bitcoin marketplace. You can buy Amazon gift cards also through your bitcoins using this marketplace. It allows customers to purchase items from a merchant exchanging bitcoin rather than standard cash.

BTC Trip: You can use bitcoin to plan a journey using this firm. It allows you to book a trip exchanging bitcoins.

Crypto Asylum: This company is dedicated to selling hardware wallets by accepting bitcoins.

Dish Network: This huge cable company also accepts bitcoin now for cable rent.

Famsa: It is a large furniture company based in Mexico that accepts Bitcoin from users.

Apart from the above, there are numerous firms that accept bitcoin.

 

5. Update to recent news of bitcoins:

Bitcoin is still under several developments. A lot of improvements and new features are yet to come. Also, the policies of governments of different companies vary from one to another. Market conditions always tend to change. All the above factors still affect the bitcoin. So, you must get in touch with the recent updates in this field. Also, you should keep an eye on the price value of bitcoin.

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#Banking

Is the Banking System a Fraud?

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There are many other loopholes to the working of banks in the economy, but for now, these should be enough to open your eyes to the banking system.

You’ve worked the entire four weeks until your bones were dry from fatigue, you spent sleepless nights working on a project or an assignment and even over worked your body to an unhealthy degree- at the end of it all, however, you have your paycheck in hand. You finally have your wage, or do you?

The bitter fact is that it’s not you but your bank that has received the wage. In our day to day lives we are dependent, more than anything on banks for the money that we earn- when it should be the other way around; that is, banks should be depending on us instead for the money that they offer to the world.

And when one pays close attention- the entire system appears to be absurd! How can a third party that had no role in the amount of work that we did and efforts that we put have a say in the amount of money we can withdraw and the number of times we can withdraw it?

Today we are here to unleash some facts about the banking system which will show to you how the whole banking system is a sham:

 

Are all banks broke?

Yes, this is no act of God, or a natural calamity or a tsunami- all banks from the beginning have been broke. After all, they have no money of their own- any assets that they appear to have were provided to them by their initial customers.

True, they earn small amounts of interest on the money that we deposit with them, but it is indeed not enough to give them amounts large enough, such as 10 lakh, which they can offer to a minimum 100 people at once. So where is the money coming from? Well, it’s all fall system that we will slowly unravel.

 

Fractional Reserve Banking

Now, the biggest fraud that banks can possibly play is that they go ahead and offer more money than they actually have and this is primarily known as Fractional Reserve Banking.

As mentioned earlier, banks have limited money supply- all the money that they have to offer is what we deposit with them so how come when a person applies for a large loan the banks are ready to give that money as though it was theirs. The sad fact is that banks are actually offering ‘your’ money to others when giving out loans- and the credit security they offer is not half as true as it would appear.

 

False Credit Creation

We will now see how the banks create false money in the economy. Supposing you deposited one thousand dollars with the bank; the next step by the bank would be to keep ten percent ($100) of it as cash reserve and use the remaining, $900 as money owned by the bank itself. So now the bank has your money, which is one thousand dollars for appearance’s sake and 900 dollars as its own money. Thus, the total money increases to 1900.

And now suppose you want your thousand dollars back- here’s what the bank will do- just like you deposited money with the bank, there are many others who deposited money with the same bank in a similar fashion, the banks will use a small percentage of the money deposited by various people and give it to you back as ‘your’ money.

This is all just a hollow scheme.

 

The Central Bank

Perhaps the most significant loophole in the banking system of the economy is The Central Bank and its activities and the biggest sham that it plays is the printing of money or deficit financing.

Whenever the money supply in the economy is falling, banks resort to deficit financing and print more money, but the actual amount of goods and services in the economy remains the same. So although now, instead of $100 you have $200, you cannot get an extra bag of rice because the total production was not increased only the paper money was.

 

Conclusion

Real rise in the economy occurs when the total production increases and not the total amount of money circulating in the market. There are many other loopholes to the working of banks in the economy, but for now, these should be enough to open your eyes to the reality of the banking world.

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