Debunqed

Tag: decentralization

  • Tech Game Changers

    Tech Game Changers

    The pandemic has thrown us into a state of flux and some tech entrepreneurs have found opportunities in the funk. One major trend involves playing with blockchain technology.

    Even though most people you come across pretend to understand blockchain, many don’t actually understand its full capabilities. Some clever Trevors, however, are making it work for them.

    DeFi (Decentralised Finance)

    For centuries, our money has been controlled by central banks. But this has given too much power to certain authorities. Now cryptocurrencies are set to help us shake the game up.

    Enter DeFi or Decentralised Finance – an umbrella term that refers to a variety of financial applications in cryptocurrency. These DApps are geared toward changing the roles of financial intermediaries or removing them altogether.

    Essentially, DeFi is a financial system built on public blockchains such as Binance Chain, PolkaDot, and Ethereum.

    It is a relatively new project which started later than Bitcoin in 2014. It was brought into the limelight in 2020 by a little-known South African called Andre Cronje. Cronje created the now almost billion-dollar DeFi-protocol called Yearn Finance (YFI).

    DeFi is an alternative to what people feel is an outdated, clunky financial system that is inefficient and prone to abuse. The idea is that DeFi will be a new digital-only and fully automated financial system which exists separately from our enormous, interlinked financial system.

    When you swipe your card, the institution has control over your transaction and retains the authority to record it in its private ledger, stop or pause it.

    Advert

    They also control financial all matters like insurance, loans, and alternative investments like derivatives, crowdfunding, and gambling. All this while literally owning all your data. They can use or share them with their stakeholders as they wish.

    Functionality

    DeFi aims to create an open-source, permissionless, and transparent financial service system. The yields you get from borrowing and lending digital assets on these platforms also put those offered by traditional banks to shame. This system is also relatively safe because lenders are certain to get their assets back because you need collateral (other cryptos) to borrow in the first place.

    You even, in DeFi, have mechanisms to maintain liquidity – just like Central Bank’s liquidity swaps. Some of them have ridiculous names like SushiSwap or PancakeSwap and perform these functions surprisingly well. this is possible because of their underlying computer-backed algorithmic technology.

    The current centralized nature of the global financial system means wealth is only amassed by those that have access to financial services. This has created further inequalities in our societies.

    Nevertheless, DeFi is a rapid technological innovation that is helping us to decentralize financial systems and foster financial inclusion. Cutting out the middleman also involves the use of Smart Contracts. Naturally prone to attach it is evolving but quickly gaining the acceptance of those ‘in the know’.

    Smarter Contracts

    According to Blockgeeks, a smart contract is a computer protocol intended digitally to facilitate, verify or enforce the negotiation or performance of a contract. They allow the performance of credible transactions without third parties.

    For example, ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop Crypto into a vending machine-type structure (digital ledger), and your escrow, driver’s license, or whatever, drops into your account.

    Courtesy: Law and Forensics.


    Smart contracts define the rules and penalties around an agreement just like a traditional contract does. Additionally, they also automatically help you enforce those obligations.

    Ethereum is the industry-leading Crypto company/platform that provides that functionality. It is, however, receiving strong competition from newcomer platforms such as Binance Smart Chain – which is actually a revised clone of Ethereum.

    Non-Fungible Tokens (NFTs)

    This is a technology that has been around for a few years but is enjoying new popularity. Fungibility refers to something that is easily interchangeable, such as the exchanging of a $50 note for five $10 notes.

    But non-fungible tokens have been created with the opposite goal.

    These are unique or scarce digital objects represented as tokens that cannot be replicated.

    They are literally anything that can be digitalized to form a collectible item – just like your paintings, collectible cards, or stamps.

    This is why they are infiltrating the auctioneering world. Digital content is tokenized through a process called minting.

    Minting involves assigning a coin on a blockchain to any given work and you can assign as many copies as you so desire.

    A key difference from authenticating other objects is that instead of a physical certificate of authentication, NFTs use blockchain technology as a verifiable digital ledger.

    The NFTs created on Ethereum’s blockchain are immutable, so they cannot be altered. No one can undo your ownership of the NFT.

    Some of the notable tradable (native) NFT tokens include Enjin Coin (gaming), Chiliz (entertainment) and Terra Virtua Kolect (VR artwork).

    Coloured coined NFTs

    In 2017, a game called CryptoKitties was invented. This was a blockchain game that allowed players to adopt, raise, and trade virtual cats.

    At one point, CryptoKitties were selling hundreds for thousands of euros. Since then, people have been pumping money into the NFT market which has more than quadrupled in value since the pandemic.

    Investors saw the value of investing in a verified item of art that no one else possesses. As a result, many new digital (NFT) marketplaces such as OpenSea and SuperRare were established – and thriving. The NBA has also gotten in on the action. NBA Top Shot is a first-of-its-kind collectible website that allows you to collect, trade, and sell your favorite NBA highlights as digital tokens. One of the highest-selling NFTs there (only 2 minted) is one of a reverse dunk by LeBron James – which fetches a cool $210 000.

    Rock band, Kings of Leon earlier in March 2021 became the first musical artist to sell its album as an NFT. Their eighth studio album, When You See Yourself, is being sold in standard digital and physical formats but also has an NFT.

    Within a week, the album had made more than $2m. This includes around $500 000 which was donated to Live Nation’s Crew Nation, designed to support live music crews during the pandemic.

    Enter the Dogecoin

    The year 2021 wanted to add a bit of humor to the world whilst making some people rich. You may call them clever or maybe reckless – or both, but some people traded an invisible investment called Dogecoin and significantly pushed up its price.

    Dogecoin was like a parody of Bitcoin symbolized by its face, the Doge meme. Entrepreneur Elon Musk punted the coin which was actually started as a joke in 2013. The price of dogecoin has exploded by more than 1,100% this year.

    The cryptocurrency has gained increased attention from endorsements by Musk, who at one point was the world’s richest man on paper. Entrepreneur Mark Cuban, rapper Snoop Dogg, and musician Gene Simmons are also backers of the Crypto-coin.

    Now Musk wants you to be able to trade Dogecoin using the Coinbase platform.

    Musk’s Tesla motor car company had allegedly used the Cryptocurrency exchange to buy $1.5bn worth of Bitcoin in February.

    The Gamestop effect

    Also this year, online traders caused chaos among financial systems, showing big institutions that they can beat them at their own game.

    A bunch of people got together on Reddit and discussed how they would pump up the price of Gamestop, a US rental games company. Gamestop saw its fortunes wane as people turned away from buying or renting disc versions of games in favor of downloads. The Reddit ‘movement’ was aided and abetted by a group called WallStreetbets.

    The group has since pledged millions of dollars from the proceeds towards saving Gorillas – epic!

    Its founder, Jaime Rogozinski, has also signed a deal in Hollywood to make a film about the incident.

    The price went through the roof as Gamestop became a gambling tool, with little underlying value in the company.

    A number of people won big but others who got in late weren’t as lucky. The price later crashed, costing gamblers a lot.

    It has since fluctuated wildly and is now on a downtrend. For every new multimillionaire, there has been someone who has lost their life savings.

    Tread carefully with new technologies

    It will take time for the use of these new technologies to settle in our society. You must, however, be skeptical even when Musk, who recently changed his designation from CEO of Tesla to ‘Technoking’ posts such things on a social platform.

    Whenever he tweets something, people react. Musk convinced scores of people to buy Dogecoin and now he is quite excited about NFTs.

    The Billionaire recently actually turned down a $1.1m offer to buy one of his tweets as an NFT after putting it up for sale, quoted saying: “it doesn’t feel quite right.”

    Musk said that he was going to sell a tweet of a song about NFTs as an NFT. This was days after an NFT had sold for a record $69m. But it turned out he was joking around when he tweeted: “Actually, doesn’t feel quite right selling this. Will pass.”

    Elon’s $1m NFT

    Musk’s tweet was listed on the blockchain-backed auction platform valuables and has attracted a bid of $1.12m from a user called @sinaEstavi.

    The tweet is of a techno song about NFTs, with the lyrics: “NFT, for your vanity, computers never sleep, it’s verified, it’s guaranteed.”

    If you don’t believe how volatile these currencies are, just check out how Bitcoin lost more than 80% of its value from December 2017 to May 2018. It is currently hovering just below $60,000 after a low of around $3,500 only in March 2020.

    If you decide to invest, do so knowing that rapid price fluctuations come with the territory.

    Remember these new blockchain assets are highly volatile investments. Their values can swing literally like a yoyo, based on the jokes made by a multi-billionaire who wants to live in space.







  • Banking on Crypto

    Banking on Crypto

    The world is slowly realizing that it needs to rely less on old systems in order to manage its way out of financial crises. One of the oldest systems which saw the US dollar as the vehicular currency of the world may be slowly coming to an end.

    Enter the Bitcoin: the brainchild of cryptocurrency, a means of exchange that is less regulated and which is built on the Blockchain, a technology that is supposedly difficult to hack into.

    A quick recap for those of you not familiar with the tech: A Bitcoin is a computer file that can be stored in a ‘digital wallet’ app on your smartphone or computer. With this technology, every single transaction you make is recorded in a public list or publicly distributed ledger.

    This makes it easier for authorities to track and record your transactions but not you personally. We will not, however, get into the potential abuse of such anonymity in this article.

    Adoption

    We have been very slow to adopt new financial technologies for two reasons. First, there are many regulations that help maintain the US dollar as the vehicular currency, used by central banks and other financial institutions to secure assets. Second, many developers of the technology are hesitant to throw it upon us – yet.

    But this will change as the robustness and reliability of cryptocurrencies is proved study by study and case by case. One method is by using cryptology.

    Cryptology is used to protect your information from hackers. In fact, the protection of your data is more important than ever before. We have made our lives more public thanks to social media.

    While you may not mind so much if hackers get unauthorized access to your pictures and social media profiles, some information is actually valuable. This includes your banking details, birth certificate, licenses, and intellectual property.

    The Covid-19 pandemic has forced us all to work from home. Those employees of numerous companies are accessing commercial information using personal computers instead of office computers. But personal computers might lack anti-virus software, firewalls, and other security measures.

    Right now, cybercrime is costing companies at least $45bn a year worldwide.

    This is why now is cryptology’s time to shine. It will also be used to protect your online purchases made using cryptocurrencies instead of traditional money. It will help ensure that funds go from your bank account to a retailer’s quickly but securely.

    Using Crypto for daily activities

    Digital Cash

    Let’s face it, we are going to use Blockchain for shopping: Lamborghini already accepts purchases in Bitcoin. The concept might still be difficult for you to grasp, but they are still being developed and soon it will be near impossible to live without them.

    Read more about Distributed Applications ‘DApps’ here

    Gaming companies are already embracing cryptocurrencies. Fortnite, a popular online game, with more than 250-million players, allows you to buy in-game products using cryptocurrencies.

    Beyond regular shopping, you could soon buy a house using a cryptocurrency. Blockchain technology and the underlying distributed ledger technology is being used to increase transparency in real estate transactions using smart contracts.

    To reiterate the use case for Crypto, many countries like Germany are relaxing laws and giving licenses to allow ‘Crypto Banks’ to operate. This is one effort to ensure that your Cryptos are properly taxed when used for investment purposes.

    One such bank, Bitwala, allows you to purchase Bitcoins or Etheruem securely and quickly from a charges-free bank account which they provide.

    Your transactions are then documented so that you can seamlessly submit reports of the purchases to the local tax authorities (Finazamt) to avoid penalties. You can do this all directly from the Bitwala App.

    The blockchain and cryptocurrency are even being explored on national levels: China is allegedly creating its own national digital currency.

    The way forward

    Monetary systems will continue to be tested every day. Banks the world over are spending big bucks to protect themselves from hacks. But one day, a hacker could throw them into turmoil.

    When that happens, you might be unable to withdraw your money. A central bank’s database could be hacked making it difficult for it to work with other banks. In the meantime, alternatives to classic monetary systems need to be developed.

    Cryptocurrencies backed by cryptology could be a very strong alternative. There are also some valid cases for using Bitcoin as a global currency. This, however, will only become a reality if it shakes off its high trading volatility to become more stable.

    We live in a world where we need to be cognisant of our health and how viruses can spread easily and quickly like wildfire. It equally is imperative to realize that cyber attackers could get and infect our data just as swiftly. Using modern technologies can help prevent these intruders from creating a ‘digital security collapse’ pandemic.

  • Digital Fundraising

    Digital Fundraising

    The latest abbreviation in the finance and crypto-world is ‘ICO’. This word, however, gives global financial authorities like the U.S. Securities and Exchange Commission (SEC) nightmares for several reasons.

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    Not to be confused with Initial Public Offering (IPO) which is used by firms to raise cash through the issuing of shares to the public. An ICO (Initial Coin Offering) works like crowdfunding, but for digital currency and tokens.


    We recently covered a feature on raising funds and capital for a business but missed out on one relatively new method. Many companies are using ICOs to raise capital for their businesses.

    Why ICOs?


    The concept of an ICO works similarly to how a company raises capital through shares in that it is all based on contrived value.


    Funding raising in effect boils down to sales! If your actual product or service has nothing substantial or intrinsic to offer a client base, then it is nothing more than a scam.


    Launching an ICO is quite easy, and to an extent, many tech companies are now catching onto it.

    An ICO is the cryptocurrency space’s rough equivalent to an IPO in the investment world. ICOs act as fundraisers of sorts; a company looking to create a new coin, app, or service launches an ICO.

    Investopedia

    If you still do not believe it is possible, just listen to this testament from someone who did it after unsuccessfully knocking on the doors of conventional funders.


    The alarming spurt rate of ICOs often brings with it a scourge of potential scammers. The SEC and other institutions have to step in to monitor and regulate them.

    Social media platforms like Facebook and Google – which house a bounty of users (potential investors) have banned ICOs ads due to possible prey on unsuspecting investors; exposing them to con artists.

    Basically, the scammers use fancy websites, laden with impressive figures and terminology to con users into buying into their coins or tokens.

    Though the tokens barely even cost a cent, it adds up if they have millions of people buying in.  Once they have reached a certain amount in funding – they close shop and disappear!

    To create a new digital coin:

    Create a product concept or Business Plan for the coin or what is called a Whitepaper. This describes in great detail what the coin or token aims to do; the core technologies behind it; the team and their qualifications; the product’s lifecycle/growth path etc.

    Once completed and water-tight, the whitepaper would be submitted along with an application to one of the best Cryptocurrency Exchanges for review.

    Naturally, you would need some initial working capital for liquidity. Some of this is raised through your savings and others through institutions (via loans etc).

    You must then assure your investors of a solid return on investment (ROI) and deliver – which goes back to sales. Unless your offering is a scam, you actually need to do some work!

    This assurance comes via regular updates (marketing campaigns can have a tremendous or adverse impact on the uptake and price) on milestones reached.

    The updates are also necessary to keep your investors abreast with progress and might convince them to increase funding.

    Growing interest and the addition of more funds create demand for the coin/ token which, in turn, drives up the price and market capitalization.

    Most successful ICOs of all time

    NEO:

    Known as “China’s Ethereum”, and backed by Microsoft, Alibaba and the Chinese government, NEO uses smart contract applications. It does so, however, with the addition of decentralized commerce, digitized assets and identification.
    It enjoyed a considerable hike in token value from $0.03 to $88.20, NEO has big things coming with a 294,000% ROI.

    Ethereum:

    Unlike Bitcoin, the second-most valuable cryptocurrency in the world has more functionality than just being a coin. Its ledger technology is used to build and deploy decentralized applications a.k.a. “smart contract” technology.
    Ethereum’s ROI has been nothing short of jaw-dropping at 230,000%. Having sold its tokens at $0.31, an Ether token now sits at a whopping $713, second in value only to Bitcoin.

    Spectrecoin:

    The “premier privacy-focused cryptocurrency” enables users to send and receive currency worldwide with total anonymity. It is currencies like SpectreCoin that have most government tax offices quaking in their boots.
    If you had repurchased a token in November 2016, that puny $0.001 would be worth $0.64 today, or an ROI of 64,000%.

    Ark:

    With Ark, collaboration is the name of the game. The platform’s SmartBridge is a lightning-fast ecosystem designed to integrate other cryptocurrencies into its blockchain.
    Investors were eager as any to buy in, and they have made a 35,400% gain given today’s token price of $3.54.

    DigixDAO:

    DGD, which stands for Digix Decentralized Autonomous Organization, is a self-governing community. It gives out grants to different projects which will promote the growth of the DGX network.
    At a current value of $346.88 per token, this gives them a return of 10,722%.

    Quantum (QTUM):

    QTUM is an open-source value transfer platform which focuses on mobile decentralized apps or Dapps. QTUM is the world’s first proof-of-stake smart contracts platform.
    They hosted a highly successful ICO in March 2017, and since that time has seen an ROI of 6,400%.

    Source: investinblockchain.com

    In conclusion

    The prospect can be daunting for a cryptocurrency investor looking to make money off new investment opportunities while remaining cushioned from fraudulent ICOs and dodgy coins and tokens.


    As there is no guarantee that any cryptocurrency or blockchain-related start-up will be genuine or successful.

    You simply need to be vigilant and take steps such as getting to know the core team, poring over the whitepaper with a big magnifying glass. Naturally, you should be monitoring the progress of the token sales.


    Most importantly, you must just use common sense to gauge just how feasible the project is to ensure that you’re not falling for a scam.

    Remember, if it’s too good to be true, then it isn’t true!

  • BTC running low on battery?

    BTC running low on battery?

    bitcoin-1813505_1280.jpg__740x380_q85_crop_subsampling-2
    Good explanation of what the declining BTC dominance means for other Alts

    On August 11 2018, the Bitcoin dominance level (market share) touched 50% for the first time in 2018. However, the move didn’t come amid a Crypto market rally. In fact, the cryptocurrency space has been in free fall until mid-August, moving in a sideways trend since then.

    Read more via BTC running low on battery?

  • For investment gains or for purpose?

    For investment gains or for purpose?

    As much as institutions, risk-averse, or simply skeptical people have downplayed the new digital currency revolution. It still, a decade after coming to public light, remains resilient.

    Bitcoin now gets a regular mention in daily news and stock market reports. It is being traded by several established investors and even included by fund managers as high-risk portfolio instruments.

    We all by now, have heard the rhetoric of high volatility and use for criminal activity when it comes to Bitcoin and its crypto-family.

    Billionaires Warren Buffet and Bill Gates also weighed into this by publicly lambasting Bitcoin. Buffet equated cryptocurrency to rat poison 🙂

    Be it may, digital currency, however, does have some unbeatable benefits and functions you cannot ignore.

    Financial emancipation

    Bitcoin and ‘altcoin’ investing have created a new wave of financial investors.

    These include retired bankers, ‘millennials’ – who instinctively jump on-board a new discovery that has creative destruction-like tendencies. You also have the plumber, bartender, or ‘average man on the street’ looking to change their lifestyles instantaneously.

    Based on their phenomenal returns, many people have taken to social media (via groups, profiles, and communities) to share their success stories. But this is also a reason to for you to heed caution when you take counsel from anyone claiming to be an expert in cryptocurrency investment.

    Volatility is not new to trading – and especially not with Crypto trading. It is constantly on a rollercoaster ride making it hard for even seasoned trading experts to predict movements with traditional market analysis tools.

    Money transfer

    We all have undergone the painful stress of waiting for funds to clear so your rent gets paid or waiting endlessly to receive money from abroad.

    With cryptocurrency, the aim is to be not only the most secure form of funds transfer – but the fastest.

    main-qimg-ff968a87730554a92951137b04f01117

    Converting cryptocurrency to fiat money, however, remains a bottleneck. It still needs institutions to adopt or directly accept payments in cryptocurrency to avoid you going through another step in order to transact.

    Cryptocurrencies still cut down transfer time significantly compared to traditional electronic fund transfers of fiat money.

    Some well-established companies already use Cryptocurrencies like Bitcoin, and Litecoin for fund transfers, or even direct exchange for services.

    Cost savings

    We cannot ignore the reduced costs associated with dealing with money you have (hopefully) earned from hard work.

    Even inheritances are gained because of the toils of the giver’s hard work. So, it wouldn’t be fair for a group of a few companies headed by executives to siphon it from you while claiming to ‘provide you with a service’.

    We all pay for Internet use (and the security software associated), for smartphones and computers.

    We, therefore, have the technology to make transactions ourselves without having to rely on others to charge us for things we can do ourselves.

    The financial institutions have long preyed on your ignorance, obedience, and unquestioning trust. This, while they brazenly burn cash dabbling in equally questionable high-risk investments like derivatives and futures.

    Use cases

    Cryptocurrencies have nevertheless, got us thinking about making profits, the tax implications, and anything financial for that matter!

    A recent development called Hodl Waves attempts to track and predict Bitcoin movements via complex usage history. It basically compares behavioural patterns of what you do when you have coins and when you choose to reinvest them.

    N26 Bank

    Blockchain technology has also spurred a new path of careers and industries. More companies globally are looking to acquire lucrative Crypto-exchange licenses to operate.

    These cryptocurrency exchanges require people to service clients in various areas. They will require employees as any company would.

    Governments too will benefit from their operations. While there are still discrepancies in most countries about how to tax you, authorities can get a lion’s share from directly taxing exchanges.

    A new wave arises

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    It is only a matter a time before the banking institutions and big companies get on board to benefit from the high-level encryption and speed provided by digital currency.

    To conclude, the ‘wait and see’ mantra is all that we can exercise when predicting the future of digital currency.

    There are, however, concerns on how secure the encryption can remain with the advent of quantum computing.  This ground-breaking tech can make calculations at millions of speeds faster and thus able to crack the toughest data encryption.

    Some form of regulation would be required in some form to keep Crypto prices stable.
  • 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!
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