Using what’s called peer-to-peer technology, cryptocurrencies remove middlemen like banks and the government, allowing direct transactions between a vast community of users. Because so many people are independently keeping track of the transactions, it is all but impossible for anyone to cheat. This format removes the problem of trusting millions of people — you need only trust the system.
One of the key factors driving the success of the hub can be found in the country’s bottom-up, decentralised and neutrality-oriented political culture. It is a perfect fit for a blockchain world that promotes decentralisation and democratisation. The Swiss authorities’ pragmatic and business-friendly attitude as well as easy access to capital were instrumental in the hub’s development. The Swiss Financial Market Supervisory Authority, Finma, was the first regulator to publish comprehensive guidelines on ICOs and classifications of tokens in 2018, which attracted talent and capital.
We are always looking to solve problems in the eco-system but it’s very high touch. There’s too much hand holding and so we wondered how we would scale this up. So we launched a portal supported by MDA to reach the masses so they can better understand the use cases of blockchain.
The other problem was after matchmaking corporates to start-ups and then start to build Proofs-of-concept (POCs), we couldn’t find the manpower to build it. That’s when we realised the talent shortage needed to be solved with Tribe Academy. We aim to develop the net generation of talent for frontier technologies like blockchain, cybersecurity, data science, and so on.
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.
- “Blockchain and cryptocurrencies are basically the same thing”
- “Blockchains can only be public”
- “Blockchain use cases are only aimed at the financial industry”
Environmentalists like to say “every day is Earth Day” to remind us that the stewardship of our natural resources is a never-ending process.
In that spirit, I offer a friendly reminder that, in the age of the internet, every day is April Fools’ Day. We all have an ongoing responsibility to be aware of the digital deception and trickery all around us.
Ultimately, it is up to all of us as consumers of media to be more critical of what we read, hear, and see online. This doesn’t mean casting off real news as fake news. Rather, it’s about becoming better digital citizens and changing our behavior, donning the digital equivalent of a mask to stop the spread of the misinformation virus.
Small businesses have a lot to gain from blockchain marketing. From providing additional payment methods and fostering online anonymity to taking intermediaries out of the equation and improving data security, blockchain marketing has endless possibilities and opportunities. It’s now the right time for small businesses to harness the opportunities that this innovative technology has to offer so that they can stay ahead of their competition.
It is essential we all embrace this new economy and ensure it reaches its full potential. But we must not make the mistake of assuming that nothing can go wrong. With the power of decentralization comes the responsibility of ensuring you are properly informed. And in that respect, not every intermediary is created equal.
“The Internet is so much more than these few behemoths!
People congregate to these platforms because of the network effect, i.e. because they want to be where all the other people are; however, the best have moved away already.
Personally, I don’t think the situation is so dire. On the contrary: I have the impression central planners are investing great effort to drive us to pessimism, and thus to sabotage the formidable free market of ideas the Internet represents.”
Consumers and businesses are both more aware of security and privacy issues than ever before, and the slew of cyberattacks and breaches in 2020 truly solidified the understanding of consequence if these things aren’t done right. Expectations are no longer just about how companies handle security and privacy, but how transparently they communicate those protocols. Companies and developers must adapt to these changes or risk facing backlash from users and regulators alike.
It’s always simpler to design something new than to retrofit an existing system. As we embark on a new era of money, we’re in a unique moment. Cryptocurrency trading has attracted the interest of a whole new swath of the population. If we use this moment well, we have the opportunity to design a new financial literacy.