Learn How to Exchange Bitcoins

Choose an exchange service. The least difficult method to obtain bitcoins is by utilizing and online exchanger. The approach an online bitcoin exchanger performances is highly equivalent to the method currency exchangers perform. All you have to do is sign-up online and perform the conversion by your fiat currency to bitcoins. You may locate numerous…

Choose an exchange service.

The least difficult method to obtain bitcoins is by utilizing and online exchanger. The approach an online bitcoin exchanger performances is highly equivalent to the method currency exchangers perform. All you have to do is sign-up online and perform the conversion by your fiat currency to bitcoins. You may locate numerous online bitcoin exchangers, the ideal choice for you is to choose the one exactly where you're located. Here I'm going to offer you a list of the most stable and recognized online bitcoin exchangers:

CoinBase:

Most likely the most well-known one. This exchanger will offer you exchange services, wallet creation and bitcoin trading. They actually have mobile apps so you can easily buy or trade your bitcoins even more easily.

Circle:

By creating an account there, you'll have the ability to store, receive, send and exchange your bitcoins.

Xapo:

This organization will mail you a debit card, so you can use your bitcoin in your favored fiat currency.

Some exchange services allow you to also trade Bitcoins.

A few of these exchange services will allow you trade your bitcoins. You will find Bitcoin excange services that limit you the quantity of buying and selling bitcoins each day. Many of these exchangers and wallet systems save digital and likewise fiat treaties for you, extremely identifiable to what regular bank accounts do. These exchangers and wallets are incredibly great in the event you expect to get into trading and do not need have to possess 100% anonymity.

Provide proof of your identity and contact information to the service.

As soon you sign up for and online bitcoin exchange service, you'll require to give your personal info, in order to generate your online account correctly. Many countries need members to fulfill anti money laundering criteria, therefore you'llought to present proof of your identity. You need to bear in mind that online bitcoin exchangers will not give you the exact degree of safety banks can. In other worlds, you may not be guard against hackers or acquire refund, in case the online bitcoin exchanger goes out of business. This entirely depends upon the exchanger Obviously, several have more powerful security systems that others and a few are even more economically steadfast than others.

Buy Bitcoins with your exchange account.

Now that you complete the set up of your online bitcoin exchange service account, you'll have to link it to your bank account, so you can easily send and receive money, among the two platforms. Moving cash from your bank to the online platform and vice versa, may require a charge. You have to read all the details concerning this matter in the online exchange systems and in your bank platform help / faq parts. There are exchangers that enable you to make a deposit personally to their bank account. One way or the other, it's extremely wise that you choose an online exchange platform, based in your country, a few exchangers may possibly also limit those members to register just if they live in the exact country they are located. There're anyhow exchangers that permit you transfer cash to overseas accounts, remember that the charges may be larger if you select to continue this approach in addition it may possibly includes a hold off to have your money available.

Tips For Choosing a Good Forex Trading Platform

Are you serious about trading in the Foreign Exchange market? If so, you may want to look for a trading platform that can meet your needs. Your Forex broker can help you choose one for free of charge. Alternatively, they can be from a software developer, such as the Metatrader 4. Given below are some…

Are you serious about trading in the Foreign Exchange market? If so, you may want to look for a trading platform that can meet your needs. Your Forex broker can help you choose one for free of charge. Alternatively, they can be from a software developer, such as the Metatrader 4. Given below are some prominent features of a good platform. Based on these features, you can opt for the right one.

Accuracy

Ideally, you may want to choose a trading platform that can give accurate trading quotes for your desired currency pairs. This can help you start trades in a timely fashion and keep an eye on your risk as well. The majority of Forex trading platforms work on the World Wide Web. Therefore, make sure you have a reliable access to the Internet.

Deal Execution

The trading platform you choose should be able to help you execute in a timely manner. And this means the reliability should be your number one factor to consider. The fact of the matter is that if the platform is not reliable enough, you may not want to choose it. It's as simple as it sounds.

Order Placement

The trading center should allow easy entry of the kinds of orders that might be needed, such as stop losses, take profits and so on. As a matter of fact, this is the most important thing that most traders are worried about while trading in the Forex market.

Manage Accounts

If you have direct access to your account, that would be great. As soon as you got a trading position, it's understood that you will need to manage it to monitor the balance and profits your earned. For ease of management, the software should feature various tools for technical analysis, fundamental analysis, strict data security, minimal downtime and so on. After all, if the system is down when you need it the most, you can not do anything.

As a matter of fact, the features mentioned above are the ones that most traders take into account when opting for the right software for their Forex trading needs. But it's important to keep in mind that not all trading platforms may have these features. So, what you need to do is check out each platform on its website. You can also choose to get in touch with the company through email or live chat for getting answers to your questions.

The Takeaway

Long story short, nowdays, there are a lot of trading platforms out there. Since the market is huge, many players have come into the market with their own software programs. If you have access to the Internet and a power personal computer, that's all you need to use a good trading platform to do business online and earn a good deal of money. Since this choice has a great impact on your profitability, make sure you choose one that contains the features we have listed above. Lastly, it's important that you test the system thoroughly to ensure you can meet all you needs with it.

How to Choose the Right Forex Trading Account

Nowadays, the Forex market is a hot topic across the globe. In today's difficult times, you may be looking for a market that will not be affected by the financial crisis. The good news is that Forex market has this protection. On a daily basis, the trade of more than 4 trillion dollars is done.…

Nowadays, the Forex market is a hot topic across the globe. In today's difficult times, you may be looking for a market that will not be affected by the financial crisis. The good news is that Forex market has this protection. On a daily basis, the trade of more than 4 trillion dollars is done. That is the reason it attracts a lot of individuals as well as financial institutions. Since there are many different types of trading accounts in the Foreign exchange market, you may be wondering which account you should go for. The tips given below may help you make the choice.

Mini Account

This account is ideal for new traders. In a mini account, you can trade even with a small amount ranging between $ 250 and $ 500. The majority of brokers may offer a lease of 400: 1 on mini accounts that can allow you to do transactions valued up to $ 10,000. This type of account requires small capital, is low risk and flexible.

Standard Account

This account is one of the most common. In fact, that's the reason it's known as the standard account. With this account, you can do lots of $ 100,000 transactions. The leverage is between 100: 1, which means you do not need to invest more than $ 1,000.

Managed Account

As the name suggests, this account will be managed by a Forex professional. You need to specify the goal at the time of opening. And it's the responsibility of the manager to reach the goals. It has two sub types: Individual and Pooled Funds.

As far as the pros are concerned, you will have the freedom to enjoy professional assistance. These pros can help you trade better. As a result, your chances of success will be higher. Moreover, you will have the peace of mind that your account is in good hands. The experienced professional will be able to make the best decision for you.

Apart from this, you will have the freedom as your account will be managed by an experienced professional. So, you will not need to spend a lot of time trading.

Keep in mind that this type of account comes with cons as well. For instance, you will have to have more money to trade. Since you will not spend any time in this business, you may have to spend at least $ 2,000 in case of a pooled account and as much as $ 10,000 in case of an individual account.

Another con is the lack of flexibility. As your trade will be managed by a professional, you will not have much to do. Unlike other accounts, you will not have a lot of flexibility. Instead, you will have to rely on the manager to make the decisions.

Long story short, the Forex market is quite popular. There are a lot of factors behind this popularity. One of the main factors is the amount of profit that can be made. However, make sure you remind yourself that the trade comes with some danger as well. If you do not do the management properly, know that you may suffer a good deal of loss as well.

5 Forex Tips That Can Save You a Lot of Money

If you are just getting started as a Forex trader, the 5 tips given in this article will help you out. However, it's important to keep in mind that they will not guarantee success. They can save you money, though. Not following any rules may increase your chances of failure. Read on to know more.…

If you are just getting started as a Forex trader, the 5 tips given in this article will help you out. However, it's important to keep in mind that they will not guarantee success. They can save you money, though. Not following any rules may increase your chances of failure. Read on to know more.

Money Management

The first rule that you need to follow is learning to survive. It's normal for every trader to lose trades but that does not mean you can not win down the road. Therefore, what you need to make sure is to keep trading.

Many new traders just focus on a trading strategy that can earn them profit. Although having a solid strategy is of paramount importance, using a good money management plan is also important.

As a general rule, if you want to be on the safe side, the highest amount of money that you can risk should not be more than 3%.

Use a stop loss

As a Forex trader, the stop loss is one of the most powerful tools at your disposal. The stop loss helps you figure out your risk. So, it's a good idea to make use of it.

Be realistic

You should be realistic. Unless you are lucky, it will not be possible that you can close 8 out of 10 of your trades approaching a good deal of profit within 6 months. But if you have these expectations, know that you are going to get frustrated and disappointed.

So, what you need to do is be realistic right from the beginning. You may want to figure out your chances of success based on your strategy and experience. Moreover, you may want to determine how much time you have to spend on your learning and trading. Once you have a better idea of ​​your conditions and your trading tools, it will be easier for you to have a lucrative trading strategy.

Stay in Touch With other traders

If you are starting out as a trader, know that you can not overlook the importance of learning from other traders. There is no doubt that reading Forex trading books is a good idea as they can give you a lot of information in a short period of time. As a result, you can build a strong foundation.

To learn things quickly, another important factor to take into account is regular practice. Your fellow traders can give you valuable information about your strategy and methods. So, you may want to network with other traders and stay in touch.

Keep your Cool

Know that you should not make your trading decisions based on your emotions. As said earlier, it can be a lot of fun to trade in the Forex market, but you may not want to get carried away on the way. You may want to approach trading as a business. It's not your hobby that involuntarily emotions.

Long story short, these are 5 Forex trading strategies that you may want to take into account in order to save money and be a successful trader.

The Best Bitcoin Trading Platforms

Cryptocurrency has not only given the fastest way to transfer the money, but also a new entity to trade with and to earn money apart from the stocks and other commodities. While you can directly sell and buy Bitcoin, you can also use Bitcoin trading exchanges to continue your trades in cryptocurrency. There are a…

Cryptocurrency has not only given the fastest way to transfer the money, but also a new entity to trade with and to earn money apart from the stocks and other commodities. While you can directly sell and buy Bitcoin, you can also use Bitcoin trading exchanges to continue your trades in cryptocurrency. There are a lot of exchanges where trading Bitcoin is safe and secured and also the customers are facilitated with many extended services. Being a cryptocurrency investor or trader you can choose any of the changes for your comfort. It is however recommended to sneak peek into the reviews of some before opting out the one. Below is a brief review of top Bitcoin exchanges around the world.

CoinBase: It is probably one of the most reputed and largest Bitcoin trading exchanges with dual facility trading directly and through the wallet. CoinBase was founded in the year 2012 as through venture finding of Y-Combinator and since then it has rapidly grown. It has many lucrative services like multiple options to deposit and withdraw cash, money transfers between two CoinBase are instantaneous, Wallet facilities with multiple signature options for more secure transfers, Bitcoin deposits are insured for any loss etc. CoinBase has the wide variety of payment partners of Europe and US, who seamlessly allow the transactions to be carried on through them. It has relatively low transactions fees and offers Bitcoin trade along with a large number of Altcoin trading as well.

CEX.IO: One of the oldest and reputed exports which was started in 2013, London as Bitcoin Trading exchange and also as cloud mining facilitator. Later its mining powerrew such that explicitly that it held nearly half of the network mining capacities; however, it has been now closed. “CEX.IO” allows customers to expand to the much larger amount of Bitcoin trades, and it has the facility to make available the Bitcoin at requested price instantly. However, for this exchange charges a bit high exchange amount, yet this is compensated for the security and facilities of allowing multi-currency transaction (Dollar, Euro, and Ruble) to buy Bitcoin.

Bitfinex: It is one of the most advanced trading exchanges and it is particularly suited to the experienced crypto-currency traders. With high liquidity for the Ethereum as well as Bitcoin, this exchange has better options like leveraging, margin funding and multiple order trading. Apart from this Bitfinex offers the features of customizable GUI, many orders types, like limit, stop, trailing stop, market etc. This exchange also also provides about 50 currency pairs that can be traded and with easy withdrawals for all. One of the largest exchanges in terms of volume traded Bitfinex offers pseudonymity for trades and only for some of the services it requires identifications. The only drawback with this exchange is that it does not support the buying of Bitcoin or any other altcoin through fiat transactions.

Bitstamp: It was founded in 2011 and is the oldest of exchanges who offer cryptocurrency and Bitcoin trades. The most respected because despite being oldest has never been under security threat and tills recently. Bitstamp currently supports four curves Bitcoin, Ethereum, Litecoin and Ripple and is available with the mobile app as well, separately from website to trade. It has lovely support for the European users or the traders having their account in Euro Banks. The security is advanced and of cold storage type, which means the coins are stored offline.So you can say it is wholly not possible for any hacker to infiltrate. Last of all its complex user interface suggests that it is not for the novice user but for professionals and it offers relative low transactions fees.

Kraken: It is one of the largest Bitcoin trading exchanges in terms of the liquidity, euro crypto trading volumes and trading figures of Canadian Dollars, USD and Yen. Kraken is most respected changes steered through the turmoil of cryptocurrency trades and has managed to keep the amounts of customer safe irrespective of the other exports being hacked at the same time. With 14+ cryptocurrency trading facilities, the user can deposit the fiat as well as cryptocurrency along with the similar capacity for withdrawals. However, it is not suited for beginners yet it has better security features and low transaction fees relative to CoinBase. Most important factor for Kraken is that it is trusted in the community and has been first to display the volumes and prices on Bloomberg Terminal.

How To Make Your Own Cryptocurrency In 4 Easy Steps

Okay, so cryptocurrency this, bitcoin that! Enough, there has been so much hullabaloo about the boom created by the virtual treaties that the internet has been overloaded with information on how you could earn more money by investing in these currencies. But did you ever think how cool it would be if you could create…

Okay, so cryptocurrency this, bitcoin that!

Enough, there has been so much hullabaloo about the boom created by the virtual treaties that the internet has been overloaded with information on how you could earn more money by investing in these currencies. But did you ever think how cool it would be if you could create your own cryptocurrency?

Never thought about it, right? It's time to think because in this post we are going to provide you a four-step guide on creating your own cryptocurrency. Read through the post, and then see whether you can do it for yourself or not!

Step 1 – Community
No, you do not have to build a community like you do when you plan to rule social media. The game is a little different here. You need to find a community of people that you think would buy your currency.

Once you identify a community, it becomes easier for you to cater to their needs and there before you can work towards building a stable cryptocurrency rather than going haywire with what you want to achieve.

Remember, you are not here to be a part of the spectator sport – you are in it to win it. And, having a community of people who would want to invest in your currency is the best way to do it!

Step 2 – Code
The second important step is to code. You do not need to have a master coder to create your own cryptocurrency. There are plenty of open source codes available out there which you can use.

You can even go ahead and hire professionals who can do the job for you. But when coding, do remember one thing – blatant copying is not going to lead you anywhere.

You need to bring some uniqueness in your currency to distinguish it from the ones that already exist. It has to be innovative enough to create ripples in the market. This is the reason just copying the code is not enough to be on top of the cryptocurrency game.

Step 3 – Miners
The third, and the most important step in the process is to get some miners on board who will actually mine your cryptocurrency.

What this means is that you need to have a certain set of people associated with you who can actually spread the word about your currency in the market. You need to have people who can raise awareness about your currency.

This will give you a head start. And, as they say – well begun is half done; miners can ever lay the foundation of a successful voyage for your cryptocurrency in the ever growing competition.

Step 4 – Marketing
Last thing you need to do as part of the job here is to connect with merchants who will eventually trade the virtual coins that you have built.

In simpler words, you need to market these coins in the battleground where real people would actually be interested to invest in them. And, this by no means is an easy feat.

You need to win their confidence by letting them know that you have something worthy to offer.

How can you begin with it? The best way to market your coins initially is to identify the target audience who knows what cryptocurrency is.

After all, there is no point in trying to market your stuff to people who do not even know what cryptocurrency is.

Conclusion

So, you can see that building a successful cryptocurrency is more about having the awareness about market trends, and less about being a hardcore techie or an avant-garde coder.

If you have that awareness in you, then it is time to make a heyday while the sun shines in the cryptocurrency niche. Go ahead and plan building your own cryptocurrency by following these simple steps and see how it turns out for you!

How to Get Free Bitcoin

Everyone is in a different situation. One shoe can not fit everyone. Therefore, we are going to talk about different ways of getting Bitcoins for free. You may be wondering if you can get Bitcoins for free. It's possible. In this article, we are going to talk about 6 ways to achieve this purpose. Let's…

Everyone is in a different situation. One shoe can not fit everyone. Therefore, we are going to talk about different ways of getting Bitcoins for free. You may be wondering if you can get Bitcoins for free. It's possible. In this article, we are going to talk about 6 ways to achieve this purpose. Let's talk about them.

  1. Getting paid in Bitcoin
  2. Affiliate programs
  3. Mining
  4. Games
  5. Faucets
  6. Gambling and scams

Falling for scams

Do not fall for scams or you will lose all your money. So, if you avoid a scam, you can use any other method to make money. You can not earn digital currency through these scams. For instance, if an offer asks you to pay a certain amount and you have no idea what you are going to get in exchange, know that it's a scam.

Since cryptocurrencies are quite expensive, it's not a good idea to take risks and fall for a scam. After all, you do not want to end up losing your hard earned money in a second.

Bitcoin games

There are some games out there that will pay you a small amount of this digital currency if you play it for a while. Typically, these games have a lot of ads attached to them.

All you need to do is keep playing the game and viewing the ads. This way the developers can earn through the ads and pay you a portion of their earnings.

If you do not have a problem viewing the ads, you can play these games and earn some digital money in return.

Mining

A couple of years back, it was possible to earn tons of Bitcoins through the process of mining. Nowadays, it has become a lot more difficult. Today, the market is dominated by big guns that have special equipment for mining.

If you want to mine the currency, we suggest that you invest in lots of powerful hardware. You can not just use your computer for this purpose.

Use Affiliate programs

As far as my opinion is concerned, this is the easiest way of approaching Bitcoins for free. It's worth it. Affiliate programs work in all industries and cryptocurrency is no exception. For instance, you can choose to refer a friend in order to earn a discount or get paid in Bitcoins.

Get paid in Bitcoin

Actually, it's not 100% free. However, technically it can be called “free”. Again, it's like a game reward. You can do this in many ways. For instance, you can ask for contributions in Bitcoins on your site. You can work with someone who pays in digital currency. You may also ask your employers to release your pay in digital currency. This is possible if your employers already pay in cryptocurrency.

If you are pretty hopeful that Bitcoin is going to go up in value, we suggest that you go ahead and pay cash to buy it. This is the safest method so far. But if this is not possible for you, then you can choose any of the methods give above. Hopefully, one or two of the methods will work for you.

Crypto Signal Services – Choosing The Best

Crypto trading can be profitable when the trader manages to keep an eye on the market round the clock. It is however something that can be challenging to do, but luckily there are crypto signal services that can be used to offer the needed assistance with the trading. They offer signals so traders are able…

Crypto trading can be profitable when the trader manages to keep an eye on the market round the clock. It is however something that can be challenging to do, but luckily there are crypto signal services that can be used to offer the needed assistance with the trading. They offer signals so traders are able to make the right decisions with their trading at the right time for that matter. With crypto currency trading so popular, a number of crypto signal services have popped up. So how do you choose the best to offer valuable information to make your trading most successful?

Service quality

It is one of the most important factors you should consider when choosing the services. The trading platform should have an impressive prediction success rate and should also offer relevant signals to guide you through the trades and market trends. The signals should also be sent in promptly so they match with real market activities. Check to see that they generate signals in the fastest way possible; it makes all the difference.

Reliability

Remember that you will be trusting them with guiding you with your trades and because you want to choose someone you can completely rely on to make safe choices. This means that you should select a provider who is 100% legitimate. A provider who tells how they generate the signals is more reliable whether they are expert traders or automated software. In the world full of scams, you really want to be careful what you choose to work with.

Free trial

One of the best ways that you can tell that a provider is genuine is by them offering you a free trial for the services they offer. This applies even when it comes to the crypto trading. A provider who offers free signals for a certain period of time gives you a chance to determine the quality and reliability of the service. By trying before investing, you get into the services with complete trust and confidence. Legit signals will have no issues, giving you the freedom to make a decision of working with them or looking elsewhere in case you are not happy with what you get.

Pricing

Even with a free trial, you definitely will need to subscribe to the services at some point. Avoid providers offering the signals at no charge at all as they may not be legit. However, you should also not be scammed to pay huge amounts for the subscription either. The pricing should be reasonable for the quality of service you stand to enjoy. Do your maths and research a little so you make the right decisions in the end.

Support

Apart from being available round the clock for your assistance, they should be knowledgeable towards the digital currency exchanges and the application they are offering you. Without this kind of support then you will still have issues enjoying the value that the services are meant to add you.

How Blockchain Technology Is Making the World Better?

Blockchain technology can help immensely in banks, insurance, health and pharmaceutical industry, supply chain of many sectors (agribusiness, luxury, international trade, distribution, wines, aeronautics, and automobile), music industry, energy, and real estate. Blockchains have the potential to replace most of the centralized “trusted third parties” including banking trades, notaries, land registry, etc. by distributed computer…

Blockchain technology can help immensely in banks, insurance, health and pharmaceutical industry, supply chain of many sectors (agribusiness, luxury, international trade, distribution, wines, aeronautics, and automobile), music industry, energy, and real estate. Blockchains have the potential to replace most of the centralized “trusted third parties” including banking trades, notaries, land registry, etc. by distributed computer systems.

1. Medicines / Pharmacy
Blockchain technology can be used to improve drug integrity. If drugs can be clearly identified and tracked from production to consumption, it could save up to one million lives each year. Because DHL is already working with Accenture to establish a track-and-trace serialization system based on blockchain technology.

“At the moment, there are already more than 7 billion unique pharmaceutical serial numbers in the system. In addition, the system can now handle more than 1,500 transactions per second,” said Scott Allison, DHL's President, Healthcare.

Allison has not only the capacity of the system in mind. For example, track-and-trace serialization should reduce costs, increase security and confidence, and eliminate error-release data movement. The technology can add additional verified information to the element, which can not be manipulated. The validation is carried out by all participants.

“THE SYSTEM NOT ONLY MEETS THE GLOBAL SERIALIZATION REQUIREMENTS, IT EVEN SURPASSES THEM,” Says Allison

2. Fashion / Fashion
The CGS project allows consumers to track the entire lifecycle of a garment. This brings together companies from the fashion, apparel and consumer goods sectors to work together. With this solution, consumers no longer need to explicitly blindly on the value in sustainability fashion. Blockchain technology allows tracking of sustainability and conformity of the garment

3. Cross-border payments
In developing and underdeveloped countries, access to capital for small food producers is often a big problem. Binkabi is a cross-border agricultural trading platform that is breaking new ground with the help of a block bridge solution from Sweet bridge. Thus, a system for fair commodity trading is to be developed.

A blockchain banking solution has recently been announced by IBM. This is intended to make international payments faster and more cost-effective.

4. Food safety
In the area of ​​food safety, IBM is working with food manufacturers Dole, Nestlé, and Walmart. Thus, the data of breeders, suppliers, processors, traders, retailers not only to all parties involved but also the supervisor jurisdictions and consumers are available. So every transaction can be traced and all information about the food can be viewed. With all members of the food system having access to the blockchain, contaminated food can be quickly removed from the production and supply chain before it reaches the shelf.

The World Wildlife Fund (WWF) “tracks” fish and seafood using blockchain technology. In this project, the technology should help in the fight against illegal fishing. However, full traceability of fish and seafood is also of interest to fish wholesalers and fish retailers, as they want to prevent their products or brands from being associated with illegal activities.

“CONSUMERS ARE ALSO INCREASINGLY SLANDERING FOR FULLY TRACEABLE FISH AND SEAFOOD THAT ARE NOT FROM ILLEGAL FISHING,” says Bubba Cook, WWF's Western Central Pacific Tuna Program Manager.

5. Humanitarian Crises
Blockchain technology is not just used by companies. The United Nations currently uses blockchain technology in 16 areas, including:

· World Food Program (Refugee Aid)

· Office for the Coordination of Humanitarian Affairs (donor financing, safeguarding, and monitoring of supply chains)

In addition, it is currently being investigated how blockchain technology can be used to tackle current problems, such as child trafficking, according to Mahrinah von Schlegel, Managing Director of Nonprofit Embassy 2.0.

As part of the public-private partnership ID2020, Microsoft and Accenture have announced a partnership. The goal is to give 1.1 billion people a legal form of identity and identification using blockchain technology.

6. Jewelry
In collaboration with Everledger, the jewelry company Brilliant Earth intends to use blockchain technology to accurately track the origins of diamonds and other gems. This ensures that only conflict-free stones are processed.

5 Ways Blockchain Will Transform the Life of a Common Man

With all of the media set ablaze with news of prices of cryptocurrencies, you may wonder how it affects a common man. Right at the heart of cryptocurrency and other digital circles is Blockchain technology. There are various industrial and administrative problems that the technology can solve for the common man. Do you own a…

With all of the media set ablaze with news of prices of cryptocurrencies, you may wonder how it affects a common man. Right at the heart of cryptocurrency and other digital circles is Blockchain technology.

There are various industrial and administrative problems that the technology can solve for the common man. Do you own a small business but often feel transparency is lacking because of traditional methods of communication? Have you ever ended up with higher than usual medical bills? As a business owner, is finding legitimate mandates a hassle for you? These problems affect entrepreneurs, startups, small businesses, individuals and Blockchain technology seeks to provide solutions to make the life of a common man much simpler through simplified solutions.

Banking

Banking in almost all countries is still very focused on paper-intensive transactions for any money transfer, recordkeeping or other back-end functions. Blockchain technology can replicate this in a digital format and create a decentralized ledger that allows not only the bankers but also the customers to access a single source of information. This system allows banks to eliminate chances of fraud as documentation and proof of ownership of assets can be digitally examined by bankers in the Blockchain ledger which can be accessed at any time in an unalterable format.

Identity theft is also a major problem in the banking sector, with citizens' information being stolen and used to open fraudulent accounts for illegal activities. According to the Federal Trade Commission's online database of complaints, there have been over 13 million complaints filed for card fraud and identity theft with 3 million of these complaints being filed in 2016 alone. Through a blockchain system, customers can directly view all accounts owned under their name and immediately notify their respective banks in case they spot any suspicious activity in their banking details. Some of the known examples include IBM-backed Hyperledger Fabric project and the Utility Settlement Coin by UBS.

Healthcare

Blockchain technology can simplify health care in incredible ways and make medical data management much simpler. Making patient records broadly accessible can allow research on drug development much more convenient, and it also reduces the implications of counterfeit drugs. Clinical trials and their outcomes can be made available in a decentralized network, allowing healthcare specialists and researchers to conduct research and find solutions to better healthcare. Accenture is one of the largest companies that have started offering innovative healthcare solutions for the medical care sector for secure and fraud-free transactions.

Medicare frauds can also be taken down through blockchain billing management as the billing system can be fully automated without any scope of intermediaries committing fraudulent activities. With over 56 million people under Medicare as of 2017, over $ 1.3 billion has been ripped off the government through fraudulent activities by rehabilitation facilities and home health care services. Blockchain systems can effectively safeguard citizens who seek medical assistance from healthcare providers that overcharge for services offered through fraudulent billing practices. The centralized data not only help medical professionals in offering treatment based on the history of the patient and his / her family but it also eliminates the chances of a patient incorrectly recollecting past symptoms or disorders.

Public Records

One of the most important civic administration functions of a government is to record all information about its citizens. This includes information about individuals and businesses with regards to their assets and activities. Most of the recorded information is recorded in paper databases, making data management extremely difficult even in developed countries.

Blockchain-based systems like Ubitiquity can encode all public records in a digital ledger to keep the data on citizens from being altered for fraudulent activities. Identity theft is a problem that can be very difficult to deal with for the administration and digitizing all public information to make it tamper-proof can help prevent such instances of criminal activity.

Voting

One of the largest limitations of the voting system in almost every country is that even today, voters need to be physically present at polling booths to cast their votes and can make things difficult for people who need to travel on poll days. More importantly, there are no means of verifying the poll results for the average citizen.

Blockchain development companies like Followmyvote are coming up with solutions that seek to make online voting a reality. It will allow citizens to view accurate information on poll stands and results and various other statistics publicly. It also leads to safer voting for citizens of countries in internal or external conflict and criminal activities to coerce citizens intooting for specific candidates which can be completely avoided.

Business Hiring

Businesses of all sizes have a hard time finding the right staff. Through blockchain technology, it is possible for businesses to verify credentials of all applicants through a digital database. Blockchain technology can be applied to create a decentralized database of professionals with verified qualifications in a secure ledger that businesses can refer to for hiring candidates. Learning Machine is a New York based company that seeks to address this problem that focuses on recording verifiable information on workers.

Tax or employment-related frauds make up 34% of all identity theft as of 2016, and a blockchain system makes the hiring process for any business much more secure as a company would have access to valid candidates only, reducing the risk of hiring fraudulent employees . It also helps applicants by speeding up the hiring process and helping them to find jobs that they are eligible for and have a hassle-free application process.

Use of blockchain technologies helps individuals and businesses alike, and it also protects personal information while making important data publicly visible. While blockchain has the best application in cryptocurrency, its use can spread to other sectors as well to provide meaningful solutions to citizens around the world.