Dear friends, now a days the world of investment is very much diverse and complicated but, on the other hand highly rewarding also. In this blog I would like to discuss and share about my views about investments in stocks, cryptocurrencies, real estate, start-ups, hedge fund, private equity etc. I shall also discuss about international relations and some other topics in my blog. Today I am writing my first post. Hope you will enjoy my post and get benefited.
of late investing crypto is very much rewarding. Before investing on this new technology which is blockchain based asset you should know about the pros and cons of this. The blockchain technology has just initiated its journey and a lot of improvement is also required but it has a great future in almost every sphere of modern industry. By design, a blockchain is resistant to modification of the data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered without alteration of all the subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high fault tolerance. Decentralized consensus has therefore been claimed with a blockchain. Blockchain has lots of applications and only one of these applications is cryptocurrency which has become a new popular asset class with high return. But not all the cryptocurrency will give you the return which you are expecting. Only some top coins which has promising white paper with practical application in the industry will sustain in the long run . Like Ethereum, Cardano ADA, EOS and some more coins. I shall also analyse these later.
Uses of Blockchain Technology :-
Blockchain technology can be integrated into multiple areas and industries. The primary use of blockchains today is as a distributed ledger for cryptocurrencies, most notably bitcoin.
Cryptocurrencies-
Cryptocurrencies use blockchain technology to record transactions. For example, the bitcoin network and Ethereum network are both based on blockchain. Now Facebook is also opening a new blockchain group which will be headed by David Marcus who previously was in charge of Messenger. According to The Verge, a famous american media news and media network operated by VOX Media, Facebook is planning to launch its own cryptocurrency for facilitating payments on the platform.
Smart contracts -
Blockchain-based smart contracts are proposed contracts that could be partially or fully executed or enforced without human interaction. One of the main objectives of a smart contract is automated escrow. An IMF staff discussion reported that smart contracts based on blockchain technology might reduce moral hazards and optimize the use of contracts in general.
Financial services -
Major portions of the financial industry are implementing distributed ledgers for use in banking and according to a September 2016 IBM study, this is occurring faster than expected.
Banks are interested in this technology because it has potential to speed up back office settlement systems.
Banks such as UBS are opening new research labs dedicated to blockchain technology in order to explore how blockchain can be used in financial services to increase efficiency and reduce costs. A number of Banks all over the world have already implemented Ripple (XRP) to speed up their services.
Video games -
Some video games are based on blockchain technology. The first such game, Huntercoin, was released in February, 2014. Another blockchain game is CryptoKitties, launched in November 2017. The game made headlines in December 2017 when a cryptokitty character - an-in game virtual pet - was sold for US$100,000. CryptoKitties illustrated scalability problems for games on Ethereum when it created significant congestion on the Ethereum network with about 30% of all Ethereum transactions being for the game.
Cryptokitties also demonstrated how blockchains can be used to catalog game assets (digital assets).
The Blockchain Game Alliance was formed in September 2018 to explore alternative uses of blockchains in video gaming with support of Ubisoft, a French video game company and Fig, a crowdfunding platform for video games among others.
Supply chain industry -
There are a number of efforts and industry organizations working to employ blockchains in supply chain logistics and supply chain management.
The Blockchain in Transport Alliance (BiTA) works to develop open standards for supply chains.
Everledger is one of the inaugural clients of IBM's blockchain-based tracking service.
Walmart and IBM are running a trial to use a blockchain-backed system for supply chain monitoring — all nodes of the blockchain are administered by Walmart and are located on the IBM cloud.
Hyperledger Grid which is an open source blockchain project by linux Foundation develops open components for blockchain supply chain solutions.
Other uses -
Blockchain technology can be used to create a permanent, public, transparent ledger system for compiling data on sales, tracking digital use and payments to content creators, such as wireless users or musicians. In 2017, IBM partnered with ASCAP and PRS for Music to adopt blockchain technology in music distribution. Imogen Heap's Mycelia service has also been proposed as blockchain-based alternative that gives artists more control over how their songs and associated data circulate among fans and other musicians.
New distribution methods are available for the insurance industry such as peer-to-peer insurance, parametric insurance and microinsurance following the adoption of blockchain. The sharing economy and Internet of Things are also set to benefit from blockchains because they involve many collaborating peers. Online voting is another application of the blockchain which is very much necessary for a country like India.
Other designs include:
Quorum – a permissionable private blockchain by JPMorgan Chase with private storage, used for contract applications.
Tezos is a blockchain application for decentralized voting.
With these tremendous potentials investors are investing in this technology and many are also opening startups based on this.
We need to understand this new technology more elaborately and I shall come to you as soon as any update i receive.
Thanking you and please give me feedback.
Have a nice day ...
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Yeah @mkdigest I agree with you. With the different trading systems and seemingly stable value of Bitcoin ($5000), we should aim for greater heights.
Thanks ....
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