Crypto

Europe Has a New Cannabidiol ‘Seed-to-Shelf’ Blockchain Tracking Tool

The users of Cannabidiol in Europe can now rejoice about the fact that they can trace the plant’s journey from plantation to retail stores. It would help the users to monitor the quality of the product closely. It would now be made possible through a blockchain tool named “CanCheck,” which was recently announced by the Cannabinoid Association of the Netherlands (CAN). The association made the announcement on August 6, and the tool would be available for free for the Cannabidiol users to trace the CBD products online for free.

Hempflax, which is one of the largest growers and processors of Hemp products in the European Union, and who is also one of the founding members of the association, would be the first company to offer its product for online tracing in the EU. The CEO of the blockchain company, Mark Reinders, said that the traceability of CBD products from seed to shelf would help protect the customers in their search for quality products. The customers can check the age, origin, quality, and other parameters related to CBD products before going ahead to purchase it.

However, CBD organizations in Europe are not the first to introduce the seed-to-shelf concept. StrainSecure, a North American blockchain-based cannabis tracker, also announced recently that it would be validating medical cannabis products based on their DNAs. In Canada, cannabis is available as well as legal for both medicinal as well as recreational purposes. In the United States, however, the rules and regulations on cannabis products vary from state to state. The discussion on the pan-American removal of the ban on Cannabis products is still underway, and the users hope it would soon be a reality.

Uruguay was the first country globally to legalize the production and sale of Cannabis products. It is also the first country in the world to use the blockchain technology to build an integrated supply chain tracker for Cannabis products. Recently, many of the dispensaries in the United States, where selling cannabis is legal to have started accepting Bitcoin Cash. Recently, the member of the Berkeley City Council, Ben Barlett, purchased Cannabis by using Bitcoin Cash and Stablecoin Universal Dollar (UPUS).

The trend of acceptance of cryptocurrencies in cannabis retail stores is not surprising. It is primarily because cryptocurrencies are regarded as highly and well-accepted in the cannabis world. The developers are working on many other methods to use the blockchain technology at various stages in cannabis plantation to production.

Crypto

Russian Cybercrime Surged 25x in 5 Years, Says Local AG

Russia’s top government lawyer laments and warns of the country’s burgeoning rate of cyber-crime. Records indicate that the nation had been seeing twenty-five times more virtual crimes over the last few years. The lawyer acknowledged this fact and other relevant topics in an official gathering held earlier this month according to the event records. As technology spreads over more and more minutiae of an average person’s daily life and connects every dot of commerce and capitals, cyber-crime has evolved simultaneously and has become a significant threat to many big nations.

Lower rate of Resolutions:

Matters become worse as with the growing numbers of crimes recorded, the rate of resolving such crimes is decreasing further down. These different tracks have widened the number of pending cases, and thus many victims remain hopelessly waiting for their matters to get sorted out. Their resources are returned. Aside from necessary stealing, cyber-crimes are being committed in even more distressing arenas such as terrorism funding, cocaine, and other substance abuse smuggling and commercial data-tampering. Authorities advise updating the existing outdated modes of tracking virtual illegalities while investing in more robust and self-serving technologies that would fine-tune the department’s approach in rooting out such corruption.

How Does Crypto-Currency Fit into this?

The same benefits and qualities of crypto-currency that had revolutionized the financial industry and trading have now become the bane authorities cautioned it would. Due to the universal nature of the currency, high-level security and anonymity, and lack of regulation by a governing body, crypto-currency has become a favorite among cyber-criminals to conduct their illegal businesses. To think crypto-currency, in one avenue, is helping struggling workers to break the glass ceiling and enjoy a life that they could never get otherwise is simultaneous, in another aspect, is the cause of heinous crimes such as terrorism and human trafficking. One’s heart sinks, and the mind boggles.

Even though many, in Russia, have tried to become stringent in such grave matters and decided to move the judiciary to deal with crypto-currencies with a more laborious hand, their caution has not been mirrored in court decisions as they remain unclear and undetermined. Crypto-currency may have to witness a battle for its soul as the country decides what to do on the matter. While completely wiping its existence isn’t ideal, certain well-designed restrictions may be worth some small sacrifices by the crypto-currency economy.

Crypto

Iran Issues New Bitcoin Mining Licenses, Cuts Power Tariff

The Islamic republic will support the cryptocurrency operations on registration with the authorities.

Tehran based Mehr news-agency has reported that Iran has issued permits for fourteen cryptocurrency mining farms. The capacity of each of these farms is around 300 megawatts. The decision is also to remove electricity tariffs by 47% to support these authorized centers.

Since July of 2019, Cryptocurrency mining has been an authorized activity in the Islamic Republic of Iran. The country’s Ministry of Industry, Mine, and trade has already issued more than one thousand licenses to these crypto miners. But, all such farms are not in operation currently. In May 2020, Iran licensed iMiner, a bitcoin enterprise of 7.3 million dollars. Reports tell that iMiner has its crypto mining operations established in the Seaman Province of Iran with around six thousand ASIC miners.

Just like other major Iranian cities, Tehran has a bustling subculture of cryptocurrency and blockchain enthusiasts. Many formal organizations, like the Iranian Blockchain Association, exists along with informal groups of lobbyists, students, researchers, and enthusiasts to develop the culture. These active groups meet regularly in local hubs, host podcasts, and operate committed websites. Discussions on the latest technology, tips and warnings about scams, and debating on the virtues is a major part of these meets. Some reports from 2019 also revealed mining operations being set up in mosques.

Nonetheless, Iran is continuously trying to combat several miners who are smuggling their equipment into the country. The deputy head of Iran’s power generation, distribution, and transmission company (Tavanir), Mostafa Rajabi Mashhadi, revealed that the Iranian government has found more than one thousand active illegal cryptocurrency mining farms across the nation.

Miners from all over the world are converging in Iran, because of the highly subsidized electricity rates. Reports and statistics reveal that mining farms in Iran are paying only around $0.01 to $0.05 per KiloWatt-Hour of electricity. However, from June to September, which is the peak summer season, the electricity rates rise by four times. Now, with the above crypto mining-supported decision, the distribution and transmission company will cut the electricity tariffs up to 47% for miners even in the peak summer season.

Mostafa Rajabi also told that this tariff cut aims to provide support to legal mining farms in the peak seasons and for availing incentives, the miners can participate in Tavanir’s recent efficiency plans. An example can be the ongoing projects to replace one million old gas-powered Air Conditioners with energy-efficient ones.

However, the decision comes with a piece of bad news for miners. It says that all the cryptocurrency miners will have to make registrations with the government. Eshaq Jahangiri Kouhshahi, the Iranian Vice-President, announced that miners will have to disclose their identity with the ministry of Industry, Mine and Trade along with the size of their mining farms, and also the type of equipment they are currently using.

Another noticing point is that mining is not the only Crypto activity in Iran and their president is interested in considering a Muslim Cryptocurrency to loosen the United State’s grip on global financial structure.

Crypto

Korean exchanges struggle with expansion amid uncertain regulations

With the change in currencies from physical to virtual, there are also many countries which are in favor of having strict rules for the use and exchange of cryptocurrencies. Hence the market for the same is not yet opened as expected by the users of such currencies. The market for cryptocurrencies is losing a lot of international traders in South Korea as there is huge uncertainty over regulations. Authorities from South Korean exchanges expressed their problems in this regard as they are not able to provide fiat trading options through authenticated bank accounts.

A temporary solution to the problem

Some exchanges have partnered with internet-only banks, and this partnership will allow them to offer fiat trading for investors in this region. However, this is viewed only as a temporary solution and much needs to be done to improve the situation in the long run. The facility will somehow work only for Korean nationals as the regulations bar foreign nationals from opening an account with banks that offer only internet-based services.

The problem for non-Korean traders

With this sudden move, non-Korean traders are upset a lot as they have to remove their funds from the exchange now. The exchange officials said that they have no other choice in this regard as regulations bound them, and they have to stick to regulatory compliance by barring non-Korean citizens from the exchange. In a similar move, other exchanges based in Korea like Coinone and Korbit have also made a stringent authentication process, and this will also remove foreign traders from the exchanges. They are now asking for a domestic mobile number in order to participate in the trades on the exchange. As the foreign nationals will not have such facilities, they will have to move their funds to other exchanges.

20% tax on profits

The non-resident traders are paying taxes higher than 20% when they withdraw their profits. The regulators have only imposed 20% tax, and the exchange is collecting additional money just to safeguard the traders when new regulations come into effect. As the government is yet to confirm the exact rates of taxes, the exchanges are now charging slightly higher rates so that it will help traders to settle the transactions in an easy way. The exchange authorities clarified that if the taxes fixed by the government are less than 20%, they will make refunds to the traders.

Crypto

Monex Becomes The Very First Securities Establishment From Japan Offering Cryptocurrency CFD

Monex Group Incorporated (aka-Manekkusu-Guru-pu-Kabushiki-gaisha) is a financial services company based in Japan, Tokyo city. The primary subsidiary of Monex Group Incorporated is Monex Securities.

Monex Subsidiaries

The primary function of Monex Securities is engaging in online securities trading. It was founded on the 5th of April, 1999. It has other subsidiaries like

  1. Monex Inc
  2. Monex Securities
  3. Monex Boom
  4. Tradestation
  5. Coincheck.

It is a firm that has been successful in providing services on a global scale. However, this is not something to be discussed here now. The news is that this firm, Monex, has turned out to be successful enough to become the first company to get itself land to offer cryptocurrency CFD. Let’s get into more details.

Monex Securities to be the First Company from Japan to Offer Crypto CFD

The very prominent online securities providing company Monex Securities is the first company from Japan offering cryptocurrency CFD. It has just come up with the inauguration of a contract or settlement in cryptocurrency for different services on 8th July 2020. This is something to happen for the very first time. A well known Japanese business of securities is offering a cryptocurrency CFD.

Now, do you know what CFD means? For your information, CFD is basically a category of derivatives where the one who is buying the contract makes a payment to the one selling. The payment is basically the amount varying between an asset’s present cost value and the cost of that asset at any future date set out in the agreement or the contract.

Some Reports from Monex Regarding this Matter

Based on the announcement made by Monex on 8th July 2020, the CFD will be very much obtainable for Bitcoin per yen, available for Ether per yen, XRP per yen, and also for Bitcoin Cash per yen for pair trading.

The limit of the rate of the purchase or the rate of leverage is two times. Monex also made a statement in a report that they would be taking the addition of a bunch of fresh coins into consideration after pondering the risks of liquidity, the danger of price fluctuations, demand along with the perils of the crypto blockchain network.

The root of the Monex Securities firm or the parent company of Monex Securities, Monex Group Incorporated, is running Coincheck as well. This falls under the most prominent cryptocurrency trades going on in Japan.

Last Note

On 1st May 2020, Financial Instruments and Exchange Law (in short, FIEL) was imposed and revised by the government of Japan. This newly enforced law states, businesses need to be listed as a Financial Instrument Business if they are offering trading on crypto-derivatives.

Monex Securities will be coming up with the freshly launched crypto derivative facility as a financial tool that would be under the regulation of the FIEL. Hopefully, you got the exact info you were looking for.

Crypto

South Korea Keeping a Close Look at the Crypto Transactions In The Wake Of Current Scandal

Based on the reports, the South Korean government agency is targeting to keep track of crypto transactions that were executed on the dark web. Those transactions were done by building up an AI-based (Artificial Intelligence) software.

KISA or the Korea Internet and Security Agency shows interest in developing AI-based software. It will be used to track down crypto transactions on the dark web answering to the Telegram Nth Room sexual ring case.

The New Daily Report

The South Korean government is working on several solutions from January this year. They have confronted many hurdles while the investigation on the child porn case was going on. That platform is where anyone would be able to gain access with money to the videos with sexually explicit content having minor.

The KISA also said that a software application depends on machine-learning technology. It automatically monitors inside South Korea’s dark websites that operate various crypto transactions.

Reports have also uncovered that the authority was instructed to supervise operations in the VASP or the Virtual Asset Handling Office. In order to test the software, the government is all ready to get into a pilot phase and running by 2022.

Challenges Faced by the Authorities while Continuing the Investigation

An unsure prediction is made, and that is the mastermind behind all of these muddles is Cho Joo-bin. At present, he is in police custody.

  • The first big problem is he is not ready to accept a single charge. He denies cooperating with the police and the investigators in this case. This is one of the main reasons why this case is facing so many difficulties in getting solved.
  • Then, the challenges again became harder as the maximum number of transactions done through the ring were in Monero (XMR) to reinforce the invisibility.
  • The investigators are also panicked about the rise in crypto-related dark web trades that took place within the century. Marketing volumes increased by 1.5% in comparison to the 2018 figures.

Funding by Private Organisations and the Govt.

  • On the basis of the figures disclosed by the agency, 1981 billion Won, that is around 1.64 million USD, of money and 0.9 billion Won, that is 6.5 million USD – 6 billion Won, that is 4.9 million USD, in government contributions will be invested in the making of virtual asset scam monitoring technologies and platforms by 2023.
  • A court in South Korea passed an order. The order was a freeze on each and every crypto wallet on the 2nd of June 2020.
  • The court also put an order for the freezing of all the securities deposits and stock accounts that somehow have any link with Cho Joo-bin.

Each and every fund within the seized accounts is in the list of suspects of clearing the profits that the defendant would have captured as the planner behind the Telegram Nth Room.

Closing

That was all the details about the crypto transactions in South Korea highly connected with the dark web. Hopefully, you got all the info you were looking for regarding this menacing event.

The good thing is that the world became much aware of these unlawful acts, and people would be very careful using crypto transactions from now on.

 

Crypto

COVID-19 Accelerates Digital Innovation and the Breakdown of Analogue Living

COVID-19 has shown has a mirror. It has proved that life can be taken away from us in the blink of the eye. Doctor, nurses, and other front-line workers are important to save many lives. This pandemic has proved that if we unite as a nation, our people can live a normal life even in these uncertain times.

More than anything, the economy of every country is at risk. Stock markets are performing poorly, companies are shutting down, and employees are getting laid off. With revenues going to zero, it has become hard for every business to survive.

Although government authorities are stepping forward to save the economy by providing tax relief and distributing food for the poor. These steps are essential to prevent a complete collapse of the economy.

During the current situation where the world is suffering the consequences of pandemic spread, it has become essential to have economic facilities. Before the COVID-19 people used to rely on paper for major communication and recording. But now things have changed.

It is completely difficult to recover from the side effects of this pandemic even in the coming years. But we can take innovative steps to prevent the further spread of this virus. For example, the complete digitalization of otherwise analogues aspects can prevent touching every other thing.

Digital payment has become the current normal. Because it doesn’t require to touch pin pads or cash. Many individuals and businesses were surviving without a digital mode of payment. But now they have realized the benefit of using digital payment methods. Blockchain and Fintech services can be utilized to avail of advanced solutions in many sectors.

Another factor worth mentioning here is remote working. Major players in the business sectors have decided to stay remote to some extent. It saves time and money because of least commuting and also increases productivity. It can be beneficial for those employees but at the same time, also has some disadvantages.

Digitization was already getting a lot of hype but this pandemic has sped up the things. When multiple industries have adopted digital technologies, it can have a major effect. Digital mode of services is not only quick and effective but it is also secure and instant. Blockchain technology, for instance, is the perfect example of such technology.

Adopting technology in any industry can facilitate transparency, affordability, and efficiency. Healthcare is a perfect example of a business that requires all these features. Having paper-based records of patients is not feasible in the current situation. Many hospitals and clinics are stuck in the same scenario for many years.

Whenever they have to access the record to check the data of a patient, they rely on cabinets stacked with numerous files and papers. It is not safe to do so in this situation. Being the most secure technology, Blockchain can provide a solution to this situation.

Blockchain technology can revolutionize the healthcare industry. It can save a lot of money in terms of highlighting malicious practices in the healthcare market. According to a report, Blockchain can save $100 billion in the healthcare industry.

It prevents errors that are often the result of human-made mistakes. A research was conducted in the United States confirmed that 250,000 people die due to medical mistakes in the country every year. Because of the permanent storage of Blockchain data, it is impossible to delete it ever. Thus, it can save many lives.

It also eliminates any chance of confidential breaches. Believe it or not, Blockchain also improves the research process in the medical field. It provides a single place where entire medical research data can be saved and whatnot.

It is clear that COVID-19 has devastated many countries in terms of economy and other factors, but it has also brought some changes. Businesses and individuals are adopting evolving methods that are beneficial to them. Everyone is walking their path to bring a change in their business and life.

Governments, on the other hands, are making changes that will support its citizens. In short, many things have changed in this dire situation that would not have been taken otherwise. It has revealed some holes in the system and how much outdated it was before it all began.

Crypto

Blockchains are an excellent solution for privacy

With the use of more technology, there is no wonder that users can transfer money digitally. There are ample platforms available in almost every economy these days with the help of which such fund transfer can be easily made. The digital world is going through a drastic transformation in recent years. In this regard, privacy is of crucial importance as it is easier than before to access any data. When this data is regarding financial transactions, it becomes even more important. The same goes for healthcare and other important sectors that store critical information about individuals and companies. Everyone likes to have privacy without hiding in a cave. As the entire world is exposed to the Internet, data security is getting very difficult. In these times, blockchain technology is a boon for privacy, as it is very easy to secure the identity with this platform. It can be integrated into different sectors based on your individual needs.

Data security is more important than before

With the change of transaction platforms, it is essential to have data security as a loophole in this regard can prove highly detrimental to the users as well as the platform. There are many instances of a data breach in recent times. You can often see such news online when attackers leak credit card data, social media data, and other healthcare records. In other instances, many people are blackmailed with their private records and asked for ransom through online modes. The emergence of blockchain is a good relief when it comes to protecting important data. As the data is encrypted at multiple stages in this method, it becomes difficult to crack them in the future. The experts try to create various layers of security with the help of which users’ data can stay safe, and there can be no probabilities for the security breach.

Safe auditing with blockchain transactions

In normal circumstances, public data can be accessed by anyone, and this can lead to a lack of privacy with regards to business records. On the other hand, blockchains allow you to keep the records in the public domain and yet protect it from unauthorized access. With this option, you have to grant permission for auditing the data before it becomes available for the other person. In this manner, your privacy will be protected. Only authorized people will be able to access your important data.

Different kinds of privacy

Some of the important kinds of privacy that need to be protected these days are the privacy of your communication, the confidentiality of your financial transaction, and the privacy of your location. With excessive usage of smartphones, all these data can be easily accessed by attackers. However, by implementing blockchain technology, it becomes easier to protect such data from unauthorized access.

Do Bitcoins reveal the identity of a user?

Many people have this confusion about bitcoins. As bitcoins are popular for their transparency, users believe that their identity will also be visible to the public. However, this is not true as bitcoins protect your privacy. While they reveal the transaction history, the user’s identity is not revealed, and you can use it for secure transactions online.

Are blockchains completely anonymous?

Not all blockchains are intended to be completely anonymous. However, some blockchain-based cryptocurrencies allow complete anonymous transactions that can never be tracked. You can choose them depending on your needs to protect your privacy.

In this manner, blockchains are emerging as the best medium to protect your privacy. You can use them extensively without worrying about frauds and identity thefts online. It is completely secure and has great potential in the future.

 

Crypto

Bitcoin Has Burst, But Could Still Revolutionise Banking

Even after the fading hype, Bitcoin has enough potential to revive the financial structure. Future money is more open than one might think.

Every transaction taking place in the network of bitcoins must be confirmed by participating users and, therefore, consumes a lot of energy. Whenever this happens, new bitcoins are generated as a reward for this mechanism. After every new bitcoin transaction, it becomes increasingly difficult to build more in the system. So, the current circulation is more than 17 million in the market, and this simplifies the logic of increasing prices as the supply is limited, and the prices are increasing.

But recent trends show that the value of Bitcoin has fallen from $13,870 in Dec’2017 to $6,483 in March’2020. This shows that the bitcoin bubble has burst, and playing in the market would be a bad idea. Several economists and financial analysts claim that bitcoin’s fashion will fade away with time, and the value curves will start touching the bottom line. But the detractors of this system still predict that it will rise to over a million dollars someday in the recent future. The study should be examined from both perspectives.

Cryptocurrencies can never take over or replace the traditional banking system because the technology is very nascent and not trusted by the masses. There is no alternative to the reserve-backed currency system that could be found through this virtual and Autobot technology of currency at any stage. All these arguments are quite justifiable and explanatory through the statement itself.

But the future of bitcoin can neither be minimized nor can be overlooked. Its developers and networkers are so engrossed in its innovation that there is no going back even after a significant fall in prices. It can be seen that the banking world has hardly grown in the past years when compared with the crypto growth rates. But it is also true that there is no way that cryptocurrencies can shake up the entire banking and trading systems.

The revolution in the banking systems of the country has already started gathering air. The reason for this would be the benefits this system is capable of offering.

  • Potential payments, especially cross-border, are seen between many countries with their own cryptocurrencies because they are faster as well as cheaper.
  • Stock exchange and share trading are garnering major attention of cryptocurrencies because they decrease the intermediate transactions and costs, leading to smooth and non-redundant trading practices.
  • Digital identity verification steps are sorted with the technology because you can select who you want to share your identity, and don’t need to repeat it for a new entity.
  • Accounting, bookkeeping, and audits will benefit from standardization and auto-detection of important data for financial statements through electronically maintained files.
  • Trade-finance can be streamlined by getting rid of time-consuming paper works and bureaucracy. By updating it on a real-time basis for all network members.

These benefits, combined with hundreds of others, attract a large population spread over the globe. However, blockchain technology has not been seen as a wholesale change in the initial stages and is filling only several niches for the central banks and other financial institutions. But the potential of bitcoin is way more than it is realized and will be exploited in the coming future to the best.

It can thus be concluded that even though many blockchain startups are failing and the value of cryptocurrencies are on the fall, the economies and finances are trying to lead blockchain applications. National cryptocurrencies are appearing, and blockchain is intervening in government agencies. As it is in high demand, the domain meets the internet of things and has great potential to revolutionize the banking system and economies for everyone’s benefits.

 

 

Crypto

Blockchain Can Level The Playing Field For SMEs

Many large-scale enterprises supporting the economic growth of the nation.   However, small and medium-sized enterprises are the backbone of the economy in every country.  SMEs are giving jobs to 50% of the population in such countries. It is not as easy as it seems to run a small enterprise.

The business owner has to face many challenges and hardships to run and even establish such a company. One of the challenges is the lack of financial support. Blockchain companies are considered as large companies. And blockchain technology is opening new pathways for many small and medium enterprises.

 What Are The Most Common Challenges Faced By SMEs?

 Such companies are termed as the backbone of financial growth in every other country. But still, these companies are regularly facing multiple challenges in terms of scaling and maintaining their businesses.  Some of the challenges are:

  1. Getting loans –   Where large companies are getting continuous support from banks and financial institutions, small companies are struggling to make the ends meet.  For a new small company, it is extremely difficult to get the capital to start a business. According to a report, some new or running medium-sized enterprises shut down their business in the first three years.  The reason for their shutdown is the lack of funding.
  2. Lack of technology – This is one of the common challenges for medium and small enterprises.  These companies have no or limited information about the latest technologies. The reason behind the lack of technological advancements is the lack of knowledge and manpower.  Therefore, it does not let them grow. Adopting new technology to a business can increase the profits of a business overnight. It has been proven that if a business has implemented the latest technology advancements, that business can turn into a large-scale company in no time.
  3. Other finances – Small and medium-sized enterprises rely on trade finance. This type of Financing is popular but at the same time, it is also difficult to obtain it. The process is difficult and requires too many formalities. This is the reason why many businesses avoid getting trade finance. Another type of financing for such companies is a peer to peer lending system. Some small-scale companies are also moving forward towards crowdfunding.  Crowdfunding is limited to technological startups. Thus, apart from bank loans, there is a limited form of alternative financing for small and medium-sized enterprises.
  4. Issues in the cash flow – As large as 40% of companies have reported cash flow issues in their company. It starts right from the establishment of a new company and sometimes bothers even when the business is running for a few years. Continuous cash flow is the main issue for many companies.  Regular cash flow is needed to perform many essential operations within the company.  For example purchasing raw materials, producing the products, paying employees, or any other expenses.

How Blockchain Can Help Small And Medium-sized Enterprises?

Blockchain represents a highly advanced alternative to traditional funding and trade financings system.  apart from providing financial facilities, blockchain can also solve other problems within these companies. For instance, secure transactions and more!

  • Smart contracts – Creating contracts is the most common practice in every business whether it is small or large.  When a normal contract is replaced with a smart contract using blockchain technology, it advances the business as a whole.  A smart contract can be executed and enforced automatically. Therefore, it can save a lot of time that otherwise gets wasted in handling manual contracts. It can also be used as an invoice for any other financing document.
  • Trade financing – While trade finance is difficult to obtain, blockchain trade financing can become a hand holding help for small and medium-sized enterprises.
  • Supply chain financing – If a company is into manufacturing, it can be difficult to handle supply chain let alone supply chain financing.  But blockchain technology has made it possible.  All the transactions are noted in real-time which makes supply chain processes move smoothly. The transparent supply chain transactions help quick supply chain invoice financing solutions.
  • Collateral – Blockchain technology has transformed funding systems for small enterprises. With the help of digital technology, blockchain can help to expand lending practices. In the blockchain industry, everything is digital in place of traditional manual processes.  Now technological and other companies can raise funds through equity.  It has reduced paperwork and offered automated funding.
  • Online security – Many technological and other companies are doing their business through online medium. Some businesses need online identity verification and blockchain has revolutionized the identity verification process. When the identity is verified through decentralized technology such as blockchain, the chances of identity theft and fraud becomes nil.  Not to mention, the identity verification process is also fast as compared to the traditional documentation process.