Debunqed

Category: Information Technology

  • Life hacks using tech

    Life hacks using tech

    We often do things out of routine without considering if there is an easier way to achieve the same result quicker and even more effectively. In a larger company or organization, this is the job of the business analyst.

    What if we applied this to other daily activities and tasks that shape the way we live?

    This would give us more time to partake in the things we love.
    It’s hard enough for most working-class adults to spend most of their days in the week behind a PC. This is usually followed by hours behind the wheel in traffic or commuting via public transportation.
    This makes the task of going shopping or even attending a doctor’s check-up after an 8-hour work stint more of a burden or chore. Worse over if you must queue further to get the service.


    This very example came to mind when a relative complained about having to go from one doctor to another. When referred to a specialist they had to then book another appointment by calling that specialist’s practice.


    Now granted, this is basically a ´first world problem’. Because having a specialist attend to a back problem after your doctor recommends it during an initial check-up is a luxury. One that third world citizens could only dream of having in the first place!

    Problem-solving scenario

    So, in the case of the referral to a specialist, a simple unified medical system can resolve this. A CRM database linking all the medical practitioners including their schedules can save you the time taken to arrange the new appointment.
    This system would also have a secure high-tech scanning and attachment add-on so that X-rays, scans, diagnoses and the attending doctor’s notes can be attached. All for the attention of the specialist.
    The times for the new appointment can be chosen quickly while the patient is at the doctor’s practice.  When convenient, you could then go to the specialist directly.

    The concept explained

    This is one very basic and rudimentary example of how an automated, centralized software solution can help schedule appointments.
    To achieve maximum optimization the system would clearly require several tests before implementation.

    Too often systems analysts and developers do not consider the end users. The user experience (UX) is the most crucial aspect of software development and should be the first step in building an automated system or it will never achieve its purpose.

    It doesn’t have to be used as a national health solution. This is because centrally planned systems, as mentioned in a previous blog, can lead to inefficiencies.
    It would need to be localized in order to make the system easier to maintain and be updated with contact details.  This especially when information can change on a weekly or monthly basis.


    Naturally, and for decades, health insurance companies have utilized card systems to document patient visits to practitioners. This also helps you and practice to easily claim back medical costs.


    But this only serves a singular function and is laborious to run. What is being proposed in this blog post is something to resolve this in a more secure and decentralized manner.

    Application and security

    Cloud security has become a huge requirement and will be a necessity for all businesses and services in the very near future. Europe, for instance, is implementing compliance laws for storage of data under its new GDPR regulation.


    Countries like Sweden also have similar compliance laws to handle financial (with a lot of banking going mobile) and medical data stored in the cloud.


    So, security would become less of a concern for businesses when it comes to data storage and automated CRM systems in the future.

    Shopping and housing convenience

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    The burden of shopping can also be alleviated with initiatives such as cashless processes. We first saw this introduced in Asia (China) and now adopted in the West through Amazon’s new cashless´ and cashier-less grocery stores.


    While shoplifters might not see the innovation in this ‘new method’ of shopping; it saves you time spent queueing to pay and will invariably help resolve the scourge of shoplifting.


    It will, however, require more reliance on technology for surveillance, to monitor and track the scanning of the goods and keep a database of records on a server.


    This helps you with the inventory management and other back-office processes and is managed by an automated ERP solution (and not a person).
    We are still waiting for massive roll-outs of the so-called smart houses equipped with smart chips that help regulate temperature, turn off energy-consuming devices when not in use.


    Some are even equipped with fridges that remind you when food is expiring or simply needs to be replaced.


    Designing such systems would naturally require careful observation into the various steps needed to reach the desired result. Details in every step from how you go from point A (selecting a product); to point Z.


    Point Z being you walking out of the shop with a fully paid item. All without using cash or the need for a cashier.

    Tweaking the solution

    The system analyst’s job would be to engage or even simulate the processes using different test subjects and not just the best practice.
    There is the possibility that you might forget to pay for the milk after checking out of a security area. That could result in an embarrassing scenario for all.


    These are just two examples of countless scenarios that can help us benefit from the use of automation and AI.
    There are many other subtle examples such as in the motor industry. This includes the use of computers to diagnose a ‘sick car’.


    There can be a solution for every bottlenecking problem. Addressing this is now has become a new field of study. Computerization and the use of robotics to handle manual labour and repetitive blue-collar jobs will be new highly lucrative career paths.

    Many new start-ups already exist purely to develop system automation.

    Welcome to the future!

     

  • Peer-to-peer service

    Peer-to-peer service

    History has taught us that a fully centrally controlled government system fails completely – well, in the long run.

    The idea of a communistic system has its merits and could still work in some sectors of our economies. It, however, omits the very thing that was provided to us as human beings – choice.


    Knowledge is empowering – but the power to do the things you would like to do effortlessly without fear of error.


    This shared knowledge emanates from scientific, biological, or financially proven theories and tests.


    They can help you make the right investments. Such as saving money on the best deals, obtaining rights to social benefits, travel to great destinations. Or simply just helping other people achieve their personal and spiritual goals.

    Monopolistic behaviour

    Those that cling onto knowledge though, serve their interests alone and should not be revered but rather shunned for power-hogging.


    Sadly, some governments monopolize access to information, basic services, resources, and even education to create an artificial demand for ´their services’.


    This forms the basis of a centrally controlled or outright communistic state.
    In business, this is a common practice of a monopoly to control the price of their good or service as they are the only ones providing it.


    The quality of that good or service, however, can and will be determined by them and them alone!


    Can you imagine then, based on the previous sentence, a situation that only governments have this power to dictate a basic service such as healthcare or education for you?


    Scary thought and if you look at most developing countries, the evidence of this is overwhelmingly sad.


    But we are not here to talk about the governments as there would be several cases to point out and this is not a political platform.
    Case in point, the concept of a centrally controlled system nevertheless is less efficient and prone to failure to disseminate the very items it sets out to provide.


    Deploying software by a global firm like IBM, via a centrally stored-located server would be absurd because the infrastructure of the recipient regions or end-users might not be well equipped to handle it.
    So one begs to question, why would you do it for social services for instance?

    Decentralized systems

    Decentralizing a system can improve efficiency because it gives options to get the best quality possible. It also removes power from one or a few providers and shares it equally amongst other stakeholders.


    This way all will stand to mutually benefit from a working system indirectly rather than just the state collecting monetary compensation or tax and deciding what to do with it alone.

    Centralized systems can learn from the blockchain to efficiently provide services.

    eMule


    Let’s take the now “illegal” peer-to-peer file-sharing and downloading software such as eDonkey/eMule (developed by Microsoft).
    Or take BitTorrent for example     you could with them, build together any file by downloading “bits” of the file by many connected servers or PCs  (peers).


    This system leads to faster downloads and allows one to source from the best quality of the available digital bits to get the data to form the e-book, music track, or movie that you were after.


    Leaving your download running would enable others to get the files you have already amassed (you reciprocally upload the files). The cycle continues until everyone acquires the same great quality file from the best ‘seeds’.


    Downloading from a sole server for the same product, on the contrary, could crash the server.


    Let’s not forget the delays due to operational differences in time-zones, or complete failure to download if the file source is corrupted or the file quality is bad.

    Application of decentralized systems

    Naturally, the entertainment industry put a stop to this because it meant that people could attain their copyrighted material.

    Many fines and warnings were dished out to individuals as well as companies hosting the sharing servers.


    You can, however, still access them via carefully planned entry gateways to hide your IP address using VPNs. Those of you who are IT experts can use (old-school) backend protocols like FTP.

    BitTorrent -> Bitcoin…Torrent -> Tor ..anyone seeing a pattern here?

    There is now even a new digital currency designed to help artists curb piracy and reward the artists for their work.
    Such protective software is already in the pipeline thanks to blockchain technology.


    Decentralizing services such as money transfers in the advent of Cryptomania removes power from regulated financial institutions. They tend to charge high fees for sometimes slow and error-prone services because they can.

    Conclusion

    So, swiftness and security are a prime reason for the adoption the Blockchain technology. Everything else such as the price of digital alternative coins or ‘altcoins’ boils down to basic supply and demand for it.

    Governments and other institutional service providers can take a leaf out of the blockchain technology tree and its true intention.

    The aim is to decentralize the provision of a service to give everyone access to it. This will reduce associated costs of using it and improve efficiency!
  • An investor state of mind

    An investor state of mind

    As an Arsenal Football Club fan, one has the natural tendency to follow the progress of both present and past players of the revered North London title-winning institution.

    The prestige of playing for the club comes along with all the bell and whistles required to make life living in the small yet expensive hub city often dubbed to be the centre of modern Europe, a breeze.

    It was rather sad to read about the unfortunate fortune of a former player who had a big heart and passion for the beautiful game. He was, however, a bit aloof and care-free on the pitch. It turns out this was a character trait that perhaps extended to his financial affairs.

    He was recently reported as sleeping on the couch of a friend without a penny to his name. How can that happen, you might ask?

    His weekly wages were a reported 50 000 Great Britain Pounds! So how did he go from earning that figure, to being dead broke?

    Such a bad turn of fortune is not uncommon for celebrities, qualified professionals, and lottery winners. This can be explained by a simple lack of ‘investor mentality’.

    The right state of mind

    This mindset can be instilled in us from a relatively young age if you have had the luxury of growing up with parents, teachers or a mentor who imparts this knowledge to you. It can also be learned later in life – often the hard way.

    Similar to starting a business, the biggest barrier to entry into any form of investment is always the initial capital. Once you have it, coupled with the investor mentality, it’s hard to fail financially in life: just ask the current sitting American president!

    Now as obvious as this sounds, you need to put in money to make money. That is why investing, for instance, is mainly carried out on a large scale by banks – with your money!

    What you do with the money when you inherit it, win it, or save up from a weekly or monthly project-based income is more important than just having it in the first place.

    Wouldn’t you agree that money comes then often goes faster than you realize? Having a grasp on why it leaves so fast is what we should be paying attention to.

    Let’s firstly be sensible about this – investing is always a long-term project. A desire to reap short-term gains or having such a mentality is paramount to risky gambling or betting against the odds.

    “Patience is an investor’s game – if you don’t have any, don’t bother with the mechanisms that don’t lock you in for a few months to enable you to realize a return.”

    Enough of the rhetorical questions and statements. Let’s briefly look at a few investment vehicles in the true fashion of Debunqed.

    Savings

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    This is the least risky investing vehicle and tends to suit patient investors. Usually, it is for you if yo are the kind that loves to watch paint dry. 🙂


    Your only risk would be using a non-government backed bank for it. The higher the amount you invest, the better the interest rate you get. So this basically benefits the already wealthy. Some savings accounts are even known to offer you 0% or fractional decimal interest rates which are calculated nominally.

    So it begs the question – why would you even consider putting your money in savings? Well, using this investment strategy helps with a good credit score. That comes in handy when you apply for loans or obtaining financial backing to start your new business. So they do have some use.
    Risk level: Little to none.

    Property (residential or commercial)

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    This is the golden nest egg of investing – that is if you can raise the bond for property or inherit one.


    Property is one asset class that tends to only appreciate and relatively well over the years depending on what is happening in the area/town or economy.
    Getting in is the difference between having a spender or an investor’s mentality.

    What do we mean by this? Well, if you can save up for a deposit to buy a brand-new luxury car, you could and should do the same for a house.

    That way each “monthly rent” payment goes towards something you will eventually own. You could also buy-to-rent. The income generated from the tenant (rent) will help you pay off the bond.

    Consider the appreciation value of property in your local area over the years. But like anything valuable, you must be prepared to maintain its upkeep – the costs will be more than your weekly carwash.


    In the long-run when you realize the greater future value, you could even downgrade to have some extra cash to spend. You could then get that car of your dreams or travel and see the world.
    Risk level: Low to moderate.

    Share/Stocks

    The days of stockbrokers are numbered. Trading firms and hedge fund companies are slowly being replaced by AI computers. These days, you can take full charge of a portfolio of equities, CFDs, Futures, Commodities, Options, Forex and Cryptocurrency directly from your laptop.


    There are a number of online trading platforms out there so it is a good idea to go with the accredited ones.


    One of the key benefits is that they all offer a free trial – which often gives you a mock .account. That’s a great way to learn about the tools and the above-mentioned markets.


    There are aspects you need to pay attention to. One of them is leverage trading . It is essentially borrowing money to trade (payable with interest) – a double whammy if or when things go south for you.
    Risk level: High to Excessive.

    Mutual funds

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    As the name suggests it is derived from a pool of funds from a specific institution or industry. Mutual funds are offered by institutions as a supplement to retirement plans (pensions and annuities).

    They offer you a return (often a stable monthly or quarterly pay-out) based on a fixed term that you agree on with your portfolio manager.
    The offering institution would then apply your pooled monthly contributions into a diverse portfolio to spread your risk exposure.


    This, however, requires the attention of a (paid) portfolio manager and is thus susceptible to the principal-agent problem.
    Risk level: Low to moderate.

    Venture Capitalism/Angel funds

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    If you have some spare cash and don’t want to bear the risk and burden of running a business yourself, you can fund other people you believe will be successful.


    In this arrangement, confidence is placed by you on the owner and the offering. You can then state the terms for the release of your funds such as a quarterly return on investment or a larger stake in the business and its profits.


    Rapper Nas is known for his investment in Silicon Valley start-ups as a Venture Capitalist – which gives him a share in the companies he backs with the hope of it growing exponentially to increase that shareholding’s worth.

    Celebrities and sports stars usually have the capital to diversify their portfolio by investing in or starting up a new business. One such notable venture was the one where Rapper/Producer Dre’s Beats brand got bought by Apple for three billion USD.
    Risk level: Moderate to high.

    Rare items

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    Though not an easy commodity to come by because often the initial value can be quite high (unless of course, you are lucky to find an item at a junk sale or low-key auction), rare commodities can also form part of your future financial security.

    Rare coins tend to take a long time to mature in value. Likewise, a painting can appreciate quickly in value if the artist’s “interesting” background comes to light in the press for good or bad reasons.

    As an example, a rare Nelson Mandela coin once sold for 100 000 USD while he was still living. So, one can only imagine what the few in circulation are worth now.

    Read more about rare coins here.


    A rummage around old antique shops and secondhand sales can reap rewards if you know what you’re looking for.
    Risk level: Low to moderate.

    Bonds

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    These are long-term interest-bearing certificates issued primarily by governments (via monetary policy) but also by certain large public institutions.


    Bonds give you a guarantee of a future value using a specially controlled interest rate. They are usually issued with fixed terms and can only be accessed after 3 to 10 years.

    This locks you in, to hold the bond for the agreed period regardless of which way the interest rates are going.


    Naturally the higher the rates the better for you. As a cautionary note, you will be subjected to the regulatory activities and monetary policies of the country in which you hold the bonds. Choose where you buy very wisely.
    and research your product.

    Accessing bond markets is also not easy and you may be subject to complex rules pertaining to the country, residence status and your credit score, and so on.


    It is really for the long-term investor and can be used in the same way mutual funds tend to be applied, to supplement one’s retirement annuity package.
    Risk level: Moderate to high.

    All things investment

    You need to remember the importance of imparting this knowledge to our youth, friends, and family so as to continue the cycle.


    The simple answer being: Education. The lack of it is one of the fundamental causes of poverty.


    A number of celebrities and sports stars have overlooked it’s true importance so as to follow their true passion and skill. This is not necessarily a bad thing. If you have the right people around you to help you manage your finances.


    It was reported he signed documents without knowing the full content and liability of what was being presented to him. It was also said that she would even bring paperwork to the football club’s training ground for him to sign.

    Let’s be honest, we don’t know the full facts but there is a lesson. This “wife” character could be anyone that you entrust with managing your finances so, be wise as to who you choose to oversee your accounts.

    Make a plan

    Having a grasp of your assets (if any) less your liabilities is the first place to start. Once you know what you have or don’t have, you can then set goals.
    Think about what you need to do to achieve a net worth that will sustain you for the long term.

    Granted we all must pay bills. We will write down that part of our income but we need to focus on what is being done with the money that is left once your overheads are met.


    Educate yourself (skip a binge session on Netflix). Take a deeper dive into the investment vehicles briefly spoken about. The resources page will provide more comprehensive details about all seven vehicles discussed.

    It will also guide you on where to go to find out more once you have decided and which vehicle or combo would fit your investment type and appetite for risk.

    Make 2018 a sensible year finance-wise and happy investing!

  • The Big ‘Crypture’

    The Big ‘Crypture’

    I’m not quite sure if anyone has given some careful thought – in the heat of this ‘Crypto mania’. More specifically, have you ever considered the ramifications of the blockchain and its impact on the global economy?

    This is an attempt to perform a calculated prophecy, based on the conversations we’ve had with like-minded visionaries.


    An introspection into this ‘much-talked-about technology’ has led to endless possibilities.

    Presently, every Tom, Anastasia, and Patel are pursuing short-term gains. You are all probably investigating ways in which they too can “cash in” by investing in new digital currencies.

    This frenzy is mainly driven by how some of the altcoins are performing in value. Some digital coins are rising as much as 1000% in a ‘Crypto bull-run’. But the real appeal for digital “currencies” comes from the security, speed, and cost of transactions they facilitate.

    A case for Cryptos

    Most of you are understandably looking at it solely from an investment point of view – after all,  greed never sleeps.

    Also, let’s not forget the anonymity it affords one – great for criminals and money launderers. Because of the increased risk, monetary authorities and regulatory bodies will make a case for tighter controls.

    They may even push for the outright banning of this new currency altogether.


    Retail banks, are currently entrusted with the movement of your funds (electronic transfers) and are governed by economic monetary policy. This happens under the watchful eye of big brother – the Reserve Bank.

    These commercial banks are the “primary targets” so to say of the blockchain. They were, therefore, the first to react by investing or attempting to start up their own blockchains.


    Such projects, however, prove to be expensive and still risky ventures given that no-one knows the source and destination of the blockchain.

    Banks are nevertheless having to either make quick decisions about whether they get on board or partner with developers of Cryptos such as Ripple).

    We also look at other financial institutions such as credit lending facilities and money transfer institutions. They are also are naturally in partnerships with the banks. They, however, stand to get wiped out by the blockchain if you think about it.

    Really, who would want to cough up a 10% commission or a transfer fee for money sent abroad to your family? You could simply use something like IOTA which, by the way, is as a Crypto hovering around 3-5 USD (at time of publishing) per unit.

    It is capable of transacting very quickly and securely with no transaction fees!

    And how so you may ask? Those details are listed clearly on their respective websites.

    Peer review functionality

    It is the belief that the plan for Cryptos’ was to enable anyone to have access to a shared (decentralized) peer-to-peer type service that enables the secure transacting of literally – anything!

    You can look at the blockchain working in the same manner as BitTorrent or E-Mule (for those who remember that far back). In the way, that data, albeit mostly bootlegged music, videos, and software, was distributed and downloaded on the web.

    “Blockchain is essentially a quick peer-to-peer transaction of digital currency”

    The value of Cryptocurrencies is now driven by how well it works as a system. You must look more closely at the added value it can offer society from a functional, practical, convenient, and of course, cost-saving perspective.

    A real threat?

    So, what does that then mean for companies like Visa, Mastercard, or even a digital banking app like PayPal?

    You can also imagine the implications for investment banks and their traders. That is if markets such as the very volatile foreign exchange (Forex) are completely abandoned and substituted by Cryptos.


    There are now many an exchange for Cryptos in the appearing monthly.
    You will be able to switch or trade Bitcoin for Ethereum, Litecoin, IOTA, or Ripple.

    Handy if you need them quickly for a specific transaction, country, or product that accepts digital currency.

    More practical uses of Crypto

    The purpose of ‘Cryptos’ running on the blockchain is, therefore, to change the way we transact and pay for goods and services.


    The aim was to make it a ‘form of exchange’ but also to provide the resources for you to “mine” and own them.  This can be an alternative income generator alleviating the need for job creation. It can also be a substitute vocation for those you who were perhaps made redundant by automation and AI.

    So, once you mine the currency (provided you have the infrastructure and pay the overheads), you can use it to get the things you need or must pay for.
    Your electricity bill, for example, can then be processed and paid for directly from an IOTA-holding wallet.


    Speaking of electricity, we came across a very insightful article (referenced in the resource section) focusing on the impact of energy consumption that global rampant mining will cause the price of electricity and the environment.

    Coupled with the switch to electric cars this could surely force you to invest in better ways to generate electricity. That is if we are to maintain sensible levels of sustainability.

    Whether the price of electricity goes up or down will be determined by how quickly energy providers globally will be able to meet this surging demand.

    We can surely be in a position to observe the upcoming impact on electricity consumption from next year.

    More and more of the global population are beginning to mine altcoins for themselves.

    As we head into the festive season and bonuses are being paid out, be responsible for how you splash out. Do your research first – even if it means waiting a year to see how it all plays out.

  • Rise of the machines

    Rise of the machines

    As a young man born in and living in Pretoria South Africa, multi-billionaire Elon Musk – better known for pioneering the Tesla battery-operated motor concept – was shunned by the Industrial Development Corporation several times.

    His innovative ideas were denied financial backing so he moved to the USA for better support. The rest as we all know is history.


    The futuristic thinker, however, took a rather skeptical and worrisome handbrake-turn when it came to the topic of artificial intelligence (AI) and its benefits to society.


    When a man like that with so much insight into technology warns of its potentially harming effects, it warrants notice. Musk warned that its use could foster ‘the coming of third world war’. We have to for such reasons,  delve a little deeper into the topic.


    We have rapidly progressed from longer periods of stone, iron, industrial, to that of space, technological/information ages. The world is now apparently fused between the latter three.


    Despite skipping a few ‘crucial’ stages, we have now surged into the age of digital automation. This is while sadly still dealing with the ravages of poverty, disease, and irreversible damage to our environment.

    Automation & AI usage

    Automation is helping business through software like ERPs that take over traditional back-office finance and operations.


    In the IT industry, the Internet of things (IoT), cloud services, and general Software as a Service (SaaS) have simplified things for IT managers. You can now just monitor and attend to more pertinent issues and tasks (hopefully not just stream movies and play games on duty).


    While seated comfortably, you will be able to now perform tasks such as deploying new software, installing/removing updates on multiple machines/devices simultaneously. All with a push of a few buttons.

    Trading bots

    In the high-risk investment scene, automation has given traders more room for better research and analysis Thus relieving you from the known stresses and mundane tasks associated with trading.


    For many trading houses and brokers, AI has even completely taken over the mundane task of making and executing trades.

    iqoption
    Advert


    If you haven’t already, read this great book entitled: The Fear Index (thriller by Robert Harris). Though fiction, it illustrates the use of a machine learning tool using algorithms to help a hedge fund company generate billions for its investors.


    The use of AI is not without fault. It can also lead to costly system-generated errors like the trading error a few years at Goldman Sachs cost the firm $100 million and other cases.

    Other use cases

    It can still, on a ‘micro’ level, help free human capital (individuals) from PC-related issues. So things like having stress, headaches, backaches, and lack of time spent with family and friends can be a thing of the past.


    In the industrial and manufacturing sectors, the advent of AI creates even more of a fear and a concern. The number (staffing) of redundancies, may increase when it is introduced.


    This would require careful planning to ensure the blue-collars that are ‘replaced’, are compensated. More so, they would need to be incorporated into different areas of businesses.

    Limits of robotics

    Obviously, not every task need to be automated or performed by robots. We (as humans) are still required to check-up, inspect, and perform quality checks for instance.
    We can, as a result, deal with inter-personal jobs that require more empathy like in customer and social service.


    Human resources or getting into corporate social responsibility (CSI) projects that reach out to communities.

    Embracing it

    More importantly, policies by governments will need to focus ever so more on job-creation. Governments must now adopt innovative means of creating jobs or foster and supporting entrepreneurship. Projects like those of Mr. Tesla/Mr. PayPal/Mr. SpaceX has created thousands of new jobs.


    As for the use of AI in weaponry and military defense systems, the less said the better. When it comes to privacy and security concerns we can only hope that rogue politicians don’t get unregulated access to such technology. In such a case we would only be able to protest and hope not to feature in a real-life James Cameron sequel to Judgment Day.
  • One tool to serve them all

    One tool to serve them all

    When working in retail, finance, and manufacturing (sales) industry, you often come across one unavoidable piece of software.

    A Customer Relationship Management software or what is abbreviated to CRM.

    Now what really is really astonishing is when people ask how a CRM can actually help their business. Often one gets asked what CRM stands for or even means!
    Now granted, it is a technical and industry-specific jargon depicting an online tool. More specifically, it is software used on hardware like PCs, tablets, scanners, point-of-sale devices, and modern cash registers).
    What it does, however, is something many businesses both small and large take for granted – and mostly to their detriment.

    The purpose

    We use CRM solutions a lot more than we think. Take our Smartphones for instance: they are basically miniature customer (data or content) managing tools and though personalized, they serve the same function.
    Now to put this into perspective very quickly and simply: our phones store and manage all our contacts. Our friends, family, businesses, and clients are kept in records primarily to help us access and communicate with them quickly.
    Mobile phones, have also evolved to now enable you to not only manage your contacts to just make calls or send SMS. You can now share all sorts of  content with via the various social media platforms.
    Each of these platforms naturally has its own purpose and account. Android phones, for instance, come with (need to be activated by) a Google account.
    You can then subsequently use it to access many applications (via an app store) and not just your email.
    CRMs manage a company’s accounts in a similar way. They enable you to quickly get a hold of people to either sell directly to, create or follow-up on a sales lead, or nurture the lead until it becomes a sale.
    This is carried out by software that sits on the front-end of a database stored on a local server or on the cloud. The software is normally user-friendly for it to be adopted and used frequently by end users.
    This enhances your productivity and therefore increases  revenue for your business.

    Practical uses of CRM

    They are used more by salespeople and staff of companies that offer a service via their customer support services or front-end teams.
    So, when you call your local phone company because you are behind on a payment or would like to hand in a product for repairs, it is a CRM system that is used to log, track and manage the case till is solved.
    The transcript, along with the call logs and resolutions are kept for a later date or time for if you make a follow-up call, request a new service. These records are stored in a database or what is called an instance.
    Depending on what your company does, it will have several (national or regional) instances to help access data even faster.
    A CRM can help you manage a healthy relationship with your clients to ensure that you are not calling them several times a day to put them off.
    It will stop you from forgetting to follow-up on scheduled calls or emails or worse yet, sending them the wrong product or information about your offerings.

    Salient features

    A good CRM package also comes equipped with a means for you to create and store brochures, create effective and targeted marketing campaigns, generate quotes and invoices (PDFs). It will also come with a solid built-in knowledgebase.
    This is a stored pool of resources containing processes and scenarios to help you quickly resolve a problem, prescribe a product or log a case.
    And nowadays, like a mobile phone, a good CRM software can seamlessly help you integrate with social media platforms to follow, service or attract customers from those digital marketplaces.

    Several CRM tools out there that offer different functionalities and depending on the size of your business, you can get a basic one that just manages your contacts and interactions.
    Then you have ones that handle full-scale operations (back-office processes like warehousing, inventory, accounting, finance, payroll, and HR).
    Those fall under another high-level category of CRMs known as Enterprise Resource Planning tools or ERPs. A topic for another blog perhaps as they are a totally different animal altogether.
    CRMs are however, an component of ERPs and bigger companies would need both to handle large scale operations.
    So you see how useful a CRM is in helping to run your company. They are now being even more automated with the help of Business Intelligence and AI.
    That makes it even easier for you to use them to grow your business to levels where ERPs you would eventually need an ERP.

    Many CRM suppliers offer free trials and even free online software, so take a shop around to see which one fits your needs.
    The current industry leaders in CRM solutions are Dynamics (Microsoft), Salesforce, Oracle, SAP CRM and Zoho.
  • A digital force awakens

    A digital force awakens

    When it comes to providing means of storing, sending, and receiving money, banks and their affiliated institutions, have enjoyed a monopoly for centuries.

    They (especially central banks which allegedly are owned powerful families) have the authority to influence countries and their governments.  We will not go into the level of control as this paves the way for conspiracy theories which though not proven – are not farfetched.


    So, it’s only expected that when some new and unknown entity threatens their prosperity, they start to react.

    Blockchain frenzy

    How banks are responding is evident by how they are fervently building their own blockchains. This, however, defeats the purpose of a having decentralized system.


    Bitcoin and cryptocurrencies get their appeal not just because they are very secure.  But because unlike fiat money, they are not heavily regulated and can be mathematically restricted.


    The 21 million unit limit on Bitcoin by default places it closer to the status of gold (which is also not infinite). But what happens when all are mined in 2041?
    Bitcoin’s current ‘value’ of over $30 000 (adjusted), could move up again, according to the traditional laws of supply and demand as it becomes rare.


    To unlock more value the creators will split it again. The first major splits (forks) gave rise to Litecoin and Bitcoin Cash.  Both cryptocurrencies are racing to newer heights daily.

    How banks operate

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    Now back to the banks – they make money from our deposits and these deposits are backed up by our reserve banks.
    Reserve banks lend retail banks money which they essentially just print. The banks must ‘turn it’ and pay it back with interest (repo rate).


    So, technically we ‘empower’ banks by depositing our money so they can invest the funds in all sorts of mechanisms. Such mechanisms include the credit and loans to you, your businesses, equities, and property.


    Then, they also invest in high-risk investment vehicles like currency trading, derivatives (futures). They are essentially the biggest regulated and legal Ponzi-schemes. They also make a significant amount of the daily fees they charge you.

    A quick example

    Let’s quickly put things into context. A bank with over a million customers transacting daily. Let’s say they charge you a 10 cent (conservative figure) transaction fee for depositing, withdrawing from another bank, or an intra-bank transfer.


    They then make 0.10c  x 1 000 000 = 100 000 units of the currency on the day. This equates to 1,2 million Euros, Dollars, Rands, or Yen annually. And that is just off your transactional fees!

    Then they also charge you monthly service/maintenance fees. Those are to cover the convenience of you having an account and, for services like online banking.


    This is what cryptocurrencies can potentially wipe away from banks we all go the digital currencies route.  Granted, how you acquire and transfer Cryptocurrencies are not as straightforward as receiving paper money – yet.


    That, coupled with the stigma around ‘Cryptos’, means there is still a barrier to entry for the ‘open-source’ monetary system.


    Banks will try and bring about their own blockchains to address security concerns around making transactions. For them, however, it would still be business as usual when it comes to the charges.

    Birth of Fintech

    Some newer financial institutions, however, are already progressing in the favour of you and me – one such is the European based N26 Bank.


    We often end up paying for things all month without even having to go to an ATM. It works as a traditional bank would, however, allows the (smart) card to be used as a credit card (backed by Mastercard) would.


    This allows you to quickly purchase goods online, book events, flights ticket, and accommodation. Basically, all things you still can’t do with your debit card.

    In countries like Sweden and Estonia, card and digital systems have been a thing for a long time now.


    Some of these Fintechs are adopting or partnering with Cryptos companies to deliver their services. One such as the relationship the one between a German bank and the crypto Ripple.

    Click image to purchase Ripple here

    It would be interesting to see what governments and financial institutions do to ‘protect’ their payment systems. Likewise, it will be equally fascinating to observe how they adapt in general to the new digital era upon us.

  • Connect with the world faster

    Connect with the world faster

    It is quite hard to understand why anyone would bother to ask (sometimes silly) questions these days when answers lie within the tips of our fingers – literally. 

    Back in the day, we used to have the ordained task of trekking to school or public libraries, or in some cases, rely on the local nerd to help answer questions and grasp difficult concepts.

    Most of you don’t realize it, but we carry information boxes via our smartphones and tablets daily. It is easy, however, to get bombarded by misinformation and what is now dubbed ‘fake news’.

    This is why it’s important for you to be able to identify credible sources when conducting research or looking for quick answers.

    Information overload


    One source of information that we subconsciously consume daily is social media. Thanks to the advent of the Internet, news, and information can reach us within milliseconds.


    We can now tune into local news broadcasts only to get things that are specific to our areas of interest.


    A quick and ill-prepared online search for a diagnosis, however, can lead to you discovering that you only have three days to live.


    Worse yet, you might even “uncover” an imminent evil ploy to destroy the world and have us living underground or under the ocean.


    Not all such theories, however, are far-fetched. Soon we will be seeing flying cars and man-manned drones such as the EHANG 184.


    And whether rumour of fact, these quick news snippets get us thinking and prompts further research into more credible sources.

    Uses of social media

    Your football clubs, politicians and musicians are all actively using them to break new signings, announce new albums or push new policy or campaign objectives.


    In addition, most, if not all companies, banks governmental institutions and even religious organizations now have a presence on social media. They use it to aggressively promote their brands or agenda.


    So, you see, ignoring the news and social media completely these days is the equivalent of retreating to a cabin in the woods or cave. You would be shutting yourself completely from family and the rest of the world.


    A social media detox is probably not a bad thing to do. We often get overly bombarded by information. However, skipping a week can leave you feeling as though you just emerged from the stone ages!

    Here is a quick guide to the mainstream information sources that you can use as starting points for your research.

    Google:

    The biggest search engine and while it generates more results (quicker than other search engines ) – it also naturally, carries a lot of misinformation.

    Google specifically has great features such as the voice-activated ‘OK Google‘ feature. It is quite responsive and good if you can’t be bothered to type but need voice-activated quick responses.

    You can quickly get the latest football scores, the next flight to Tokyo, or the latest stock price of Oil or Bitcoin.

    Wikipedia:

    Always a quick reference guide (commonly used here). Bear in mind that their entries are put together by ordinary people.

    So while fairly accurate, you should cross-reference information there especially when it comes to dates and events.

    The website, however, gets reviewed/verified regularly and is therefore still quite a practical ‘go-to’ source for you to get quick facts. Be wary of the usage of short ‘Wikis’ though.

    Investopedia:

    For credible and simple to understand finance-related terms concepts on the go along with related news and great blog. They even have a great simulated stock trading game that you can enjoy.

    Twitter:

    Brandishing the iconic blue bird logo, Twitter is quick, instant, and addictive to some (no names mentioned).

    Twitter is the best platform enabling you to announce and share information quickly via your mobile devices. News often breaks on it often before mainstream can media can announce/publish it.

    It’s even quite common for news anchors to quote the tweet handle of a politician or celebrity when delivering news these days.

    Facebook:

    Launched as the first real (public) social media platform. It was designed to connect university/college peers. It has since grown to be the one source of finding your old flames, colleagues, family.

    Authorities and companies are known to have used it to find out criminals or veto job candidates.

    The platform was even allegedly used as a source for political campaigns and meddling with outcomes of a certain major presidential election.

    It has, since its inception in 2004, been a place where many applications such as gaming application developer Zynga have made millions by capitalizing on our addiction to mobile games.

    Facebook also has its other uses. It serves as a large marketplace to sell things, sends instant messages (with video-calling), and provides us with security alerts in times of terror attacks and natural disasters.

    LinkedIn:

    This app is important but often overlooked source of company information, recruitment, and career-building website. Though it looks similar to Facebook, it is more career-oriented and a great source for recruiters to head-hunt find you online.

    LinkedIn gives you an extra professional ‘leg-up’ and even enables you to quickly convert your profile into a well-structured PDFed CV.

    So useful, that it was acquired by Microsoft late last year. It is a powerful resource for their CRM solutions to be able to track individuals, companies, and decision-makers.

    Instagram:

    This has become a lot more than a place to post pictures of your dog´s gourmet dinner. This picture-based app has a fully-fledged marketing engine backed up by hashtags like Twitter. Like Whatsapp, it also now belongs to Facebook.

    It has become a necessary tool for both, individuals and businesses and of course, celebrities like Kim Kardashian.

    Instagram took over, in terms of popularity, the likes of similar older picture sharing platforms such as Photobucket or Flickr.


    WhatsApp:

    Owned by Facebook (if you didn’t know). This phone and the desktop-based app got their edge by taking over the SMS function from mobile operators.


    We don’t send SMSes anymore. And if you still do, it’s usually because your phone is too old – or you are up to something shady! 🙂


    Blackberry (R.I.P) started this idea with the BBM Messenger. But like others that tried and failed using exclusivity, not everyone wanted a Blackberry just to use that feature.


    Enter WhatsApp with the ability to use your mobile phone number rather than the device itself to set it up. And just like that, it snatched up the whole market!

    Running off Wi-Fi or your mobile data, you can instantaneously share videos, links, and pictures.


    You can use it to host – or rather – facilitate group events like the planning of a surprise party, a birthday party. It can help you also get serious things done. You can collaborate on assignments, prepare a presentation, or (for start-ups on a low budget) launch a marketing campaign.

    The funniest thing is how we now have people walking with more authority – with the title of “WhatsApp group admin”.

    Snapchat:

    This animated short video-making application is more for the youth but you can also use it for enterntainment. Snapchat is used mostly by celebrities like DJ Khaled – who is often viewed as its ‘ambassador’. He even owns shares in the company.

    It also has also recently surged in popularity (number of users) and earned a place with some of the business powerhouses on the NYSE.

    Get 20% off AVG Internet Security Unlimited! Banking, browsing, shopping; extra protection for you.


  • The not-so mysterious world of cryptocurrency

    The not-so mysterious world of cryptocurrency

    Warren Buffett once referred to financial derivatives as “weapons of mass destruction” . He warned that they are detrimental to the global economy and financial markets.

    Cryptos have a way of creating something supposedly of intrinsic value out of nothing. This is as dangerous as propaganda that leads to conflict or promotes struggle.

    They are backed up by a cloud of non-regulatory policies by states who themselves, still traditional monetary policy measures.


    And this is despite their full understanding of the instruments of financial wizardry.

    In economics, the term creative destruction, however, has a paradoxically positive meaning. It is perfectly suited to the new form of “crypto”- currency (Bitcoin) that is not as mystic as it seems.

    A brief history

    Money is a concept that probably also met up with resilience when it was first supposedly introduced by the Chinese. They started carrying folding money during the Tang Dynasty (A.D. 618-907).

    The instability generated by uncontrolled usage and denomination, however, soon led to rapid inflation. This prompted the Chinese to drop it, only for it to be taken up again later when it got stabilized by the adoption and use by the West.

    They developed paper money as an offshoot of the invention of block printing. Block printing is like stamping.

    Ironically that very same term ‘block’ is the foundation behind the Bitcoin – which is generated using blockchains (digital public ledger).

    We won’t get into the mechanics of Bitcoins.  We will, however, attempt to increase awareness on why and how this new payment method could cause positive ripples in the financial global system.

    What is Bitcoin?

    As per Wikipedia, and as simple as it can get in terms of a description: Bitcoin is a cryptocurrency and a digital payment system.

    It was supposedly invented by an unknown programmer, or a group of programmers, under the alias Satoshi Nakamoto in 2009.

    Though the anonymity creates an element of distrust about the agenda of its creators, it is surprisingly more transparent than derivatives.

    Cryptocurrency uses a system of cryptography (encryption) to control the creation of digital ‘coins’ and to verify millions of transactions.

    These transactions include are a basic movement of funds between two digital wallets and get submitted to a public ledger and await confirmation through encryption.

    This video is a great and simple way for you to understand the above because it is best understood when explained as a larger picture. Check out this useful and basic video on Bitcoins.

    That is quite a feat worth acknowledging because 11 years of existence is nothing compared to gold’s multiple century reigns.

    Now 2009 was not long ago considering the Bitcoin is now ‘worth’ well over $20 000 each (updated to 2021 levels).

    For centuries, gold has been our standard of trade or backing of all types of currency until it was ‘uncoupled’ by Nixon in 1971.

    The future of trade and commerce is in the digital sphere – are you in the know?

     Potential currency?

    For something to become the standard measure or mode of trade it, however, needs to be stable. So, while the technology behind Bitcoin (the Blockchain) is relatively sound, its actual price needs to find its firm nesting.

    Established currencies trade on markets via exchange rates with relatively minuscule increments of change in price and value. In comparison, Bitcoin can jump in value by $1000 within (minutes or seconds) – prompting skepticism about its stability.

    Google Engineer Ray Kurzweil, who is revered as a “prophet” for his mysterious predictions, such inconsistency undermines the cryptocurrency’s value as a currency.

    The aim is nevertheless to relieve our dependency on money or more so, the iron grip and often abusive control that some banking institutions have over consumers.

    You could even argue that the recent surge in its price is being fuelled by agents of the traditional banking industry. They naturally feel threatened by the fact that they may not fully understand it and its inherent potential. So they (cash-flush) could inflate it for an inevitable ‘burst’.

    But the currency though very volatile in its movement has remained buoyant. It has now held for well above $10 000 for sustained periods since its inception. Gold is now approx. $1,900.

    Bitcoins provide more guarantee than financial derivatives especially because of their open-source approach to its existence and use.

    Complexity

    The tricky part is simply getting to grips with the vastly abundant information about it and how you could even generate it.

    It is still a great backup ‘of a backup’. We rely on technology and more specifically the Internet for transactions and the associated traffic for our daily lives.

    A simultaneous crash of a few major servers, however, could send it all tumbling back into the digital abyss. But as with money and other forms of currencies, only time will tell.

    Bitcoin will just have to further prove its resilience and stability in the long run.

    Getting attention

    It is certainly not a ‘fly by night’ thing because it has sparked the interests of both public and private institutions globally. China even made a bold move to block the Bitcoin market from trading within its borders at some stage.

    China is notorious for blocking things that stem from the ‘West’ only to later introduce it under their own control to protect their financial sector.

    So, we can be rest assured that the creator is not Chinese! Sweden has allegedly passed legislature to make it an accepted form of currency.

    Currently, banks and governments are frantically creating their own sets of blockchains to ensure they are not caught off-guard.

    Read more about the implications of Cryptocurrency on the financial sector.

    Bitcoin also gets its collective strength (intrinsic value) from its limited quantity in circulation (19 million out of a finite 21 million).

    Spillover effects

    Bitcoin has also paved the way for others such as Ethereum, (mostly used for smart contracts and by developers) which is also seeing good growth.
    Then there is Litecoin, which was formed as part of a controversial yet civil split from the originators of Bitcoin to use ‘variant technologies’.


    All these platforms (companies) now use the blockchain to create all types of cryptocurrencies to capitalize on the spoils of this digital revolution.

    There are also several institutions that are offering late-comers a chance to benefit from the spoils of using and investing in digital currency.

    Naturally, all these schemes with their investment packages would require a ‘buy-in’ and marketing to attract more takers.

    Such Crypto ‘companies’ are likened to a pyramid scheme and subject to many investigations by fiscal and criminal authorities.
    But that is how Bitcoin, its promoters, and the market were initially treated.

    Interested? Check out the following useful links to their official websites to help you get started.
    You can learn more about them, about mining them, or simply buy some Bitcoin here.
    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK WHEN INVESTING IN CRYPTOCURRENCIES.
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