Category Archives: Entrepreneurship

AdHive Bounty is Launched

We have finally launched AdHive Bounty campaigns! Now you can participate in project’s promotion, not only follow the news. The more you do, the more you get — $200,000 are going to be distributed in ADH Tokens and about $3,000 in ETH until February 6. There are several types of activities: you can invite 3 friends in our Telegram chat, make a translation of our Prospectus and Onepager, write an article, blog or review and get bonuses!

WIN 1 ETH every week by inviting 3 friends

Each week (every 7 days), one of the participants will be chosen randomly to receive 1 ETH.

Week 2 has already started! Participate to be the second lucky winner!

Instructions to participate :

-Fill out this google form https://goo.gl/forms/asp14iLB7TmBIUey2

Rules:

-Join our Telegram chat

-Invite 3 friends (people, who agree to be invited)

-Wait for the end of the week(every 7 days) when winner is announced

(Week 3) Winner will be chosen randomly on 28th of December on a live stream at 10:30 GMT and prize will be handed on 28–29th

Next week spreadsheet is updated, you can participate again if you invite 3 more friends and fill in the form.

(Week 1) Congratulations, @mikecrypt !

(Week 2) Congratulations, @johnthebabtist54!

(Week 3) Registration will be closed at 9 PM GMT 28th of December!

Check your participation status here https://docs.google.com/spreadsheets/d/1O4Pq1KBIl8HTPnnzi-RERTi2Ngf3411OZ7MRkjNOgUo/edit?usp=sharing

Get $130 for translation

Languages:

-French

-German

-Hindi

-Portuguese

-Indonesian

-Italian

-Filipino

-Vietnamese

-Spanish

Instructions to participate :

– Fill out this Google form https://goo.gl/forms/hUjXY44wWzitdAFS2]https://goo.gl/forms/hUjXY44wWzitdAFS2

– Notify in this thread when your translation is done, providing a link of the translation.

– You will get 2 files for translation(Prospectus and Onepager).

Rules:

– One reservation per person

– Google Translator (or other similar tools) work, bad quality work will get you disqualified, apply only if you are able to provide a high quality translation in the requested language.

– Translations have to be sent to our email or posted here.

– Wait for your approval in green to begin the work

– You have 6 days to finish your translation from the moment you fill out the form, you will get disqualified if you don’t respect the deadline.

Check your participation status here https://docs.google.com/spreadsheets/d/1Rd3UoXV47vcEoWX6_h6P17QoztaJdty99ZidRusaWjU/edit?usp=sharing

Get $60–150 for an articleblogreview

Instructions to participate :

– Fill out this Google form https://goo.gl/forms/zIJLM4VqpnzyCXnG2

– Post your work here

Rules:

– Only original work is accepted, using the work of someone else or copy/pasting parts of the ann thread/website/white paper will disqualify your work(s)

– The blog must be at least 3 months old

– The blog/video/article must be public

– The blog post/article has to have at least 200 words

– The website/blog where you post the content has to be relevant and connected to crypto/advertisement world.

– Your article/blog post has to have a good writing quality

– You must have at least 50 subscribers on Youtube for a video

– The video has to be of good quality

– Forums must be active, same for the thread, the author has to bring updates about AdHive

– Maximum of 10 contents submitted per participant, the same article/blog post can only be posted 3 times on different websites by the same person and each reposting of the same article will get you half of the ETH of the first one

– Any content must have a link to our website and Telegram channel ( in the description for videos)

– If the blogarticle is written in a non-English language, it will cost half of a usual stake, as we can’t properly asses the work

*Work value depends on the amount of your subscribersviewers and on the quality of your post which will be assessed by the Bounty Manager*

Check your participation status here https://docs.google.com/spreadsheets/d/1UhFxYVJZyTNvLpgzFvnBmINHY-IhE0bBzmv9Gs7uJew/edit?usp=sharing

Rules :

-Only twitter accounts with twitter audit over 85% will be allowed.

-You must have over 100 followers

-Do not RT and like tweets that are answers to other users.

-Follow official Twitter AdHive https://twitter.com/AdhiveTv

-Retweet and like all tweets

-Make at least 2 own tweets about AdHive per week. All Tweets must have hashtags #AdHive #ICO

-Every bounty week will be closed on every Thursday

Rates:

100–1000 Followers — 1 stake / week

1000 -3000 Followers — 2 stakes /week

3000–6000 Followers — 3 stakes/ week

6000–10000 Followers — 4 stakes/ week

10000–20000 Followers — 5 stakes/ week

20 000 + Followers — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/ZDrTLbWgmr1NZogB3

Please check your registration here: https://docs.google.com/spreadsheets/d/1H0o-kFc4zvYIgJmXSl01EMPBPgxegNSKhNdWfY1_Tek/edit?usp=sharing

Rules :

-You must have over 100 friends

-Follow official Facebook AdHive page https://www.facebook.com/adhivetv

-Share and like all Facebook Publications

-Make at least 1 own Facebook publication about AdHive.

-Every bounty week will be closed on every Thursday

Rates:

100–500 Friends — 1 stake / week

500–1000 Friends — 2 stakes /week

1000–3000 Friends — 3 stakes/ week

3000–5000 Friends — 4 stakes/ week

5000–10000 Friends — 5 stakes/ week

10 000 + Friends — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/IsGAktKR5O1nQYDI2

Please check your registration here: https://docs.google.com/spreadsheets/d/1f9QPXIjVyX7QU3HH62ITrD81SXLbD6CEMOEEvb5JtN0/edit?usp=sharing

Rules :

-You must have over 100 followers

-Follow official Instagram AdHive https://www.instagram.com/adhive.tv/

-Repost and like all posts

-Make at least 2 own posts about AdHive per week. All posts must have hashtags #AdHive #ICO

-Every bounty week will be closed on every Thursday

Rates:

100–1000 Followers — 1 stake / week

1000 -3000 Followers — 2 stakes /week

3000–6000 Followers — 3 stakes/ week

6000–10000 Followers — 4 stakes/ week

10000–20000 Followers — 5 stakes/ week

20 000 + Followers — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/OhB41pBcx1rLrcTi2

Please check your registration here: https://docs.google.com/spreadsheets/d/1mI5J8J9J7-DRm_dJWpG_1ezErYpKTGN7xhOwLLnainE/edit?usp=sharing

Rules:

Check https://adhive.tv/ + https://adhive.tv/platform/ use it and check every function

Report bugs to our telegram channel https://t.me/adhive_support

Rates:

1 bug found and described — 1 stake

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Register here — https://goo.gl/forms/c5TqN6mEmDkV0waH2

You can check your participation status here — https://docs.google.com/spreadsheets/d/185803PE4ufBBjsWJ0vo9O12oaMhYJVWXbVAhhnOw3U4/edit?usp=sharing

https://medium.com/adhive

Rules:

-Follow official Medium AdHive https://medium.com/adhive

-Repost and like(clap) all posts

-Make at least 1 own posts about AdHive per week. All posts must have hashtags #AdHive #ICO

-Every bounty week will be closed on every Thursday

Rates:

Like(clap) and share -1 stake/week

100–1000 Followers — 1 stake / week

1000 -3000 Followers — 2 stakes /week

3000–6000 Followers — 3 stakes/ week

6000–10000 Followers — 4 stakes/ week

10000–20000 Followers — 5 stakes/ week

20 000 + Followers — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/JoX2ejSWoNWu1JeE2

Please check your registration here: https://docs.google.com/spreadsheets/d/1WFWxiz8uHrfqoqy9-Q-ejNrCpRO1UYXulO8IKa5diw4/edit?usp=sharing



AdHive Bounty is Launched was originally published in Adhive.tv on Medium, where people are continuing the conversation by highlighting and responding to this story.

AdHive Bounty is Launched

We have finally launched AdHive Bounty campaigns! Now you can participate in project’s promotion, not only follow the news. The more you do, the more you get — $200,000 are going to be distributed in ADH Tokens and about $3,000 in ETH until February 6. There are several types of activities: you can invite 3 friends in our Telegram chat, make a translation of our Prospectus and Onepager, write an article, blog or review and get bonuses!

WIN 1 ETH every week by inviting 3 friends

Each week (every 7 days), one of the participants will be chosen randomly to receive 1 ETH.

Week 2 has already started! Participate to be the second lucky winner!

Instructions to participate :

-Fill out this google form https://goo.gl/forms/asp14iLB7TmBIUey2

Rules:

-Join our Telegram chat

-Invite 3 friends (people, who agree to be invited)

-Wait for the end of the week(every 7 days) when winner is announced

(Week 3) Winner will be chosen randomly on 28th of December on a live stream at 10:30 GMT and prize will be handed on 28–29th

Next week spreadsheet is updated, you can participate again if you invite 3 more friends and fill in the form.

(Week 1) Congratulations, @mikecrypt !

(Week 2) Congratulations, @johnthebabtist54!

(Week 3) Registration will be closed at 9 PM GMT 28th of December!

Check your participation status here https://docs.google.com/spreadsheets/d/1O4Pq1KBIl8HTPnnzi-RERTi2Ngf3411OZ7MRkjNOgUo/edit?usp=sharing

Get $130 for translation

Languages:

-French

-German

-Hindi

-Portuguese

-Indonesian

-Italian

-Filipino

-Vietnamese

-Spanish

Instructions to participate :

– Fill out this Google form https://goo.gl/forms/hUjXY44wWzitdAFS2]https://goo.gl/forms/hUjXY44wWzitdAFS2

– Notify in this thread when your translation is done, providing a link of the translation.

– You will get 2 files for translation(Prospectus and Onepager).

Rules:

– One reservation per person

– Google Translator (or other similar tools) work, bad quality work will get you disqualified, apply only if you are able to provide a high quality translation in the requested language.

– Translations have to be sent to our email or posted here.

– Wait for your approval in green to begin the work

– You have 6 days to finish your translation from the moment you fill out the form, you will get disqualified if you don’t respect the deadline.

Check your participation status here https://docs.google.com/spreadsheets/d/1Rd3UoXV47vcEoWX6_h6P17QoztaJdty99ZidRusaWjU/edit?usp=sharing

Get $60–150 for an articleblogreview

Instructions to participate :

– Fill out this Google form https://goo.gl/forms/zIJLM4VqpnzyCXnG2

– Post your work here

Rules:

– Only original work is accepted, using the work of someone else or copy/pasting parts of the ann thread/website/white paper will disqualify your work(s)

– The blog must be at least 3 months old

– The blog/video/article must be public

– The blog post/article has to have at least 200 words

– The website/blog where you post the content has to be relevant and connected to crypto/advertisement world.

– Your article/blog post has to have a good writing quality

– You must have at least 50 subscribers on Youtube for a video

– The video has to be of good quality

– Forums must be active, same for the thread, the author has to bring updates about AdHive

– Maximum of 10 contents submitted per participant, the same article/blog post can only be posted 3 times on different websites by the same person and each reposting of the same article will get you half of the ETH of the first one

– Any content must have a link to our website and Telegram channel ( in the description for videos)

– If the blogarticle is written in a non-English language, it will cost half of a usual stake, as we can’t properly asses the work

*Work value depends on the amount of your subscribersviewers and on the quality of your post which will be assessed by the Bounty Manager*

Check your participation status here https://docs.google.com/spreadsheets/d/1UhFxYVJZyTNvLpgzFvnBmINHY-IhE0bBzmv9Gs7uJew/edit?usp=sharing

Rules :

-Only twitter accounts with twitter audit over 85% will be allowed.

-You must have over 100 followers

-Do not RT and like tweets that are answers to other users.

-Follow official Twitter AdHive https://twitter.com/AdhiveTv

-Retweet and like all tweets

-Make at least 2 own tweets about AdHive per week. All Tweets must have hashtags #AdHive #ICO

-Every bounty week will be closed on every Thursday

Rates:

100–1000 Followers — 1 stake / week

1000 -3000 Followers — 2 stakes /week

3000–6000 Followers — 3 stakes/ week

6000–10000 Followers — 4 stakes/ week

10000–20000 Followers — 5 stakes/ week

20 000 + Followers — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/ZDrTLbWgmr1NZogB3

Please check your registration here: https://docs.google.com/spreadsheets/d/1H0o-kFc4zvYIgJmXSl01EMPBPgxegNSKhNdWfY1_Tek/edit?usp=sharing

Rules :

-You must have over 100 friends

-Follow official Facebook AdHive page https://www.facebook.com/adhivetv

-Share and like all Facebook Publications

-Make at least 1 own Facebook publication about AdHive.

-Every bounty week will be closed on every Thursday

Rates:

100–500 Friends — 1 stake / week

500–1000 Friends — 2 stakes /week

1000–3000 Friends — 3 stakes/ week

3000–5000 Friends — 4 stakes/ week

5000–10000 Friends — 5 stakes/ week

10 000 + Friends — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/IsGAktKR5O1nQYDI2

Please check your registration here: https://docs.google.com/spreadsheets/d/1f9QPXIjVyX7QU3HH62ITrD81SXLbD6CEMOEEvb5JtN0/edit?usp=sharing

Rules :

-You must have over 100 followers

-Follow official Instagram AdHive https://www.instagram.com/adhive.tv/

-Repost and like all posts

-Make at least 2 own posts about AdHive per week. All posts must have hashtags #AdHive #ICO

-Every bounty week will be closed on every Thursday

Rates:

100–1000 Followers — 1 stake / week

1000 -3000 Followers — 2 stakes /week

3000–6000 Followers — 3 stakes/ week

6000–10000 Followers — 4 stakes/ week

10000–20000 Followers — 5 stakes/ week

20 000 + Followers — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/OhB41pBcx1rLrcTi2

Please check your registration here: https://docs.google.com/spreadsheets/d/1mI5J8J9J7-DRm_dJWpG_1ezErYpKTGN7xhOwLLnainE/edit?usp=sharing

Rules:

Check https://adhive.tv/ + https://adhive.tv/platform/ use it and check every function

Report bugs to our telegram channel https://t.me/adhive_support

Rates:

1 bug found and described — 1 stake

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Register here — https://goo.gl/forms/c5TqN6mEmDkV0waH2

You can check your participation status here — https://docs.google.com/spreadsheets/d/185803PE4ufBBjsWJ0vo9O12oaMhYJVWXbVAhhnOw3U4/edit?usp=sharing

https://medium.com/adhive

Rules:

-Follow official Medium AdHive https://medium.com/adhive

-Repost and like(clap) all posts

-Make at least 1 own posts about AdHive per week. All posts must have hashtags #AdHive #ICO

-Every bounty week will be closed on every Thursday

Rates:

Like(clap) and share -1 stake/week

100–1000 Followers — 1 stake / week

1000 -3000 Followers — 2 stakes /week

3000–6000 Followers — 3 stakes/ week

6000–10000 Followers — 4 stakes/ week

10000–20000 Followers — 5 stakes/ week

20 000 + Followers — 7 stakes/ week

All stakes will be multiplied by a factor 1.5 if you participate in AdHive Telegram bounty

Please register here: https://goo.gl/forms/JoX2ejSWoNWu1JeE2

Please check your registration here: https://docs.google.com/spreadsheets/d/1WFWxiz8uHrfqoqy9-Q-ejNrCpRO1UYXulO8IKa5diw4/edit?usp=sharing



AdHive Bounty is Launched was originally published in Adhive.tv on Medium, where people are continuing the conversation by highlighting and responding to this story.

22nd December 2017 | Daily Business Digest


Startup #founders who wishes to share their story can email us at dreamcatchers@tussleandtriumph.com

#Blockchain and Crypto News: SEBI Chairman Ajay Tyagi has said that Bitcoins, and cryptocurrencies in general, cannot be ignored.

#Personality Focus:

Mohandas Pai has so far invested in over 18 startups. He also runs five investment funds: Aarin Capital, Aaruha Technology Fund, Exfinity Venture Partners, The Saha Fund, Tandem Capital and 3one4 Capital, with a cumulative capital of $500 Mn. He is also one of the most active top angel investors in India.

#Indian Startup News

#21. IoT startup HexOctane to raise $2.5 mn

#20. Healthcare services aggregator EasyBuyHealth raises 350K

#19. Hero Electric promoters, others invest in bike taxi & on-demand delivery app N.O.W

#18. Tendulkar-backed Smartron buys into home automation startup MiQasa

#17. Tiger Global-backed Razorpay to foray into online lending

#16. Twitter targets business users with live news to boost ad revenue

#15. Omidyar-backed Indus OS raises $4 mn in pre-Series B funding

#14. E-commerce enabler EasyEcom raises angel funding

#13. Flipkart to float artificial intelligence unit AIforIndia

#12. Alibaba launches first cloud data centre in India

#11. Diabetes management app Wellthy raises funding from GrowX Ventures

#10. Ratan Tata, others invest in cannabis research startup BOHECO

#9. Carlyle acquires majority stake in Visionary RCM Infotech

#8. Venture Catalysts invests in online gifting company IGP.com

#7. Quikr to acquire HDFC Realty, HDFC Developers

#6. FidelisWorld-backed Smaaash raises $14 mn from HNIs

#5. Solar panel maker Waaree Energies raises $15.6 mn from Centrum Financial, others

#4. Flipkart Bolsters Artificial Intelligence Push By Creating An Internal AIforIndia Unit

India’s ecommerce behemoth Flipkart is taking big steps to make headway in the area of artificial intelligence by creating an internal unit called AIforIndia, in order to put machine learning and AI at the core of its business.

#3. More Than 50,700 Complaints Filed Against Ecommerce Firms Last Fiscal

Over 50,760 complaints were filed against ecommerce firms between April 2016 and March 2017, a steep jump from 23,955 in the financial year prior to that. The figures were recently revealed in a written reply to the Lok Sabha by Consumer Affairs Minister C.R. Chaudhary.

#2. Mobile Operating System Indus OS Raises $4 Mn From Existing Investors

Homegrown mobile operating system and native applications platform Indus OS has raised $4 Mn Pre Series B funding from existing investors Omidyar Network, Ventureast and JSW Ventures. With this, the startup’s total fundraise till date has reached $13 Mn.

#1. Amazon Prime Membership Program Now Applicable To 11 Mn Products In India

Amazon’s popular membership programme, Amazon Prime has grown to encompass over 11 Mn Prime eligible products across categories in India this year, compared to the 2 Mn products it offered in 2016. The programme also saw customers from over 350 cities across the country signing up in 2017.

#Global Startup News

#5. Uber rival Didi Chuxing gets $4 bn from SoftBank, others for global expansion

#4. Sequoia Capital seeks up to $6 bn for new global fund: Report

#3. Traditional businesses have invested $50 million in start-ups this year

More than a dozen traditional businesses have made investments totalling $50 million in 11 start-ups in 2017, shows data from Venture Intelligence

#2. Daimler buys majority stake in French car-ride app Chauffeur Prive

The Daimler-Chauffeur Prive deal, whose details weren’t disclosed, is aimed at Uber and the latest example of car firms tying up with a car-ride start-ups

#1. China’s Didi Chuxing gets more than $4 billion in new funding round

Didi Chuxing raises $4 billion in a new funding round to fuel its international expansion and development of artificial intelligence

#Indian Business News

#1. Reliance Infrastructure sells Mumbai power business to Adani Transmission for Rs18,800 crore

Reliance Infrastructure will use the proceeds from the sale of its Mumbai power assets to repay debt, and post the deal, it will turn debt-free

#2. HDFC Capital raises $500 mn for second affordable housing fund

#3. Altico Capital invests $195 mn across realty projects in Hyderabad, Pune

#4. Lodha Developers plans $1 bn IPO, hires bankers

#5. Edelweiss aims to mop up as much as $1 bn in infra fund

#6. Azim Premji Trust sold 2.73% stake in Wipro in share buyback offer

Azim Premji Trust, along with nine other promoter entities, offloaded a little over 17.96 crore shares during the share buyback that closed on 13 December

#7. Canara Bank to sell 4% stake in Canfin Homes

The stake sale in Canfin Homes will reduce Canara Bank’s shareholding in its housing finance subsidiary to 26%

#8. Air India’s operational profit rises to Rs215 crore in 2016–17

Air India Ltd’s operational profit rose to Rs215 crore and net loss narrowed to Rs3,643 crore in 2016–17, ahead of its planned privatisation

#9. Maruti seeks more govt incentives to make electric cars affordable

Maruti Suzuki, which plans to launch its first electric vehicle by 2020, also said it will conduct a study to find consumer insights to prepare for the journey

#10. PepsiCo’s midlife crisis in India

Changing consumer preferences and rising competition have led to a fall in market shares and revenues that the US-based food and beverages maker has failed to arrest despite shifting focus to healthier offerings

#11. Will Apple be the first to reach $1 trillion market capitalization?

Apple, the company that Steve Jobs founded, lost and re-found is now within touching distance of becoming the first company to achieve a market capitalization of $1 trillion

#12. Gujarat NRE Coke faces liquidation as NCLT says no to deadline extension

At least four firms keen to take over Gujarat NRE Coke, but none will be able to submit binding bids within specified time frame, NCLT-appointed administrator says

#13. Waaree Energies raises Rs100 crore from Centrum Financial, global private equity fund

The proceeds will go towards the growth capital requirement of Waaree Energies

#14. Essar Steel creditors may extend deadline to sign agreements with bidders

The deadline for a binding agreement is fixed by the resolution professional and approved by the committee of creditors. The deadline for Essar Steel is in the last week of December

#15. Tycoons set to remake India steel as $26 billion battle heats up

Surging steel prices and a new Indian insolvency law have set the stage for an industry-defining battle between tycoons and producers for more than $26 billion of the sector’s most-coveted assets, reports Bloomberg.

#16. Altico Capital invests Rs1,250 crore in 5 realty deals

Altico Capital, the non-banking finance company, promoted by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, has invested over Rs1,250 crore across five deals in Pune and Hyderabad, reports The Economic Times.

#17. Creditors of insolvent companies can get shares at discount

The Companies Amendment Bill passed by Parliament has brought relief for creditors involved in insolvency proceedings allowing them to acquire shares of insolvent company at a discounted price, reports The Economic Times.

#18. Bharti Airtel, Tata Teleservices Boards clear terms for consumer business merger

The boards of Bharti Airtel, Tata Teleservices (TTSL) and its listed Tata Teleservices (Maharashtra) (TTML) unit separately cleared the terms for the merger of Tata Group companies’ consumer mobility business with the nation’s top telecom operator, reports The Economic Times.

#19. Rs6,000-crore equity held back from laggard state-run banks

The Centre did not release around Rs6,500 crore to 13 public sector banks (PSBs) in 2016–17 under the Indradhanush plan as none of the banks met the performance standards, reports Business Standard.

#20. PE funds stare at capital loss on stressed investee firms

Even as vulture funds eye bargain buys from stressed assets on sale, a set of private equity (PE) funds are staring at capital losses and looking at ways to limit these, as their investee companies are dragged to the National Company Law Tribunal (NCLT) by lenders, reports Business Standard.

#21. Upfront cash criteria to bid for stressed assets not feasible

The new evaluation criteria laid down by lenders for stressed assets have put bidders in the bind as more weight is being given to upfront cash to be paid to the banks with the bid offer instead of giving more weight to equity investments to be made in the stressed company, reports Business Standard.

#22. RCom lenders’ meet today, stock up 32%

The stock price of Reliance Communications (RCom) shot up by over 32.14% to close at Rs17.10 on Wednesday, possibly triggered by a joint lenders’ forum meeting scheduled for Thursday. The forum is expected to discuss the bids it has received for sale of the company’s assets, reports Business Standard.

21th December 2017 | Daily Business Digest

☞ Clap if you liked this post. ☞ For daily updates on #Startups and #Businessupdates follow Tussle and Triumph

If you wish to get your startup story published email us at dreamcatchers@tussleandtriumph.com

#Startup #India #Digital #TussleandTriumph #Funding #CollaboratingIntoTheFuture #Entrepreneurs #Cryptocurrency #Investment#Acquisition #fund #unicorn #VentureCapitalist #InvestIndia



22nd December 2017 | Daily Business Digest was originally published in Tussle and Triumph on Medium, where people are continuing the conversation by highlighting and responding to this story.

How I Got Lucky

By Riding The Wave

Ever gotten a tiny sliver of success once and suddenly everyone thought you owed them something?

It happens to me a lot.

I think it’s funny though.

Some just want a golden tip.

Others know for sure I had some kind of ‘secret’, a short-cut or maybe even insider information.

And one ‘friend’ just thinks I’m too lucky to live and too stupid to understand it.

But they all think I should help them to become successful too.

My standard explanation is that it took hard work, patience, skills and stamina.

But that’s not what they want to hear.

They are certain I got lucky and they want some of that luck.

And here comes the plot twist.

They are totally right.

I got lucky.

I happened to catch the right wave at the right moment and rode it like a pro.

That’s all there was to it.

Kind of.

I would have missed that wave if I thought I needed permission to surf.

Or if I didn’t know how to surf.

Or if that day I decided to lay on the couch and watch TV.

Or if I wasn’t in optimal physical and mental shape.

Or if couldn’t swim.

Or if I wasn’t standing on that beach day in and day out while others were partying.

Standing there alone in the cold for years while the ‘smart’ crowd ridicules you, that takes guts.

I hope you get the analogy by now.

My friends and family never got it.

And some are for ever going to ask me how I got that tiny sliver of success.

I’ll tell them the truth: I got lucky.

However now we both know that there was much more to it.

Whenever you see someone being extremely lucky, you should pay attention.

Because what you see is an overnight success, ten years in the making.

Blockchains and Nature: The Rise of Utility Ecosystems

by David Menard | Software Engineer at injii

2017 has been explosive for blockchain solutions and cryptocurrencies. As we approach the end of the year, any enthusiast that has been following cryptocurrencies for at last 6 months would know their understanding and interests have matured. How many hard forks, hacks or public figures have thrown fear, uncertainty or doubt (FUD)? We have seen week after week of ICOs and whitepapers but they seem to be forming a cookie cutter approach rather than innovate with the technology. Everyone expects the next Google or Amazon to emerge from this wave of technology but with distributed and decentralized; will we see single coins survive/dominate or the rise of utility ecosystems?

The great debate between whether a coin is a security or whether it has utility has become the initial liability hurdle for surviving an evolving 3.0 wild west. What role does the coin have? To maximize the impact of distributed networks, utility ecosystems will need to emerge. As more coins are developed the need to do everything with one coin will dwindle. Between scaling issues and governance, life is too complicated for one coin to handle an infinite amount of roles. Nothing in nature has that type of dominance. You would equally perish without water, food or air; at different rates but the impertinence within the three are equal. A balance of different roles, some with more responsibility than others but equally important are required to create sustainable utility ecosystems.

Within any organization or hierarchy in society or nature there are a spectrum of roles needed in order for balance and progress. Blockchains and smart contracts are fundamentally identical to the structure of nature. Nature has predefined roles that evolve or perish whilst leaving a record in time. All elements on the periodic table have their own role in our environment. At the basic level they have been discovered with more utility being applied daily. We should be designing our blockchains and smart contracts with nature as our template.


Illustration by Joe Magee

Traditionally VC’s, Angels, and investment groups have shunned the idea that startups could start with a multisided market and multiple revenue streams. They would urge the startup to focus on one market and one revenue stream. This is where blockchain/ICOs have made its most disruption this year. Startups are dropping the narrow minded mindset of traditional investors and addressing issues for society on a global scale. So far in 2017, more money has been raised by ICOs than VCs have invested. That’s the true flippening that happened this year. The vehicle to fund raise from all participants enables multi-sided / multi-revenue stream solutions to emerge with greater success.

In nature there are cohesive relationships in all participants and things. Is it hopeful to think blockchains and cryptocurrencies are a return to a more natural process of life? Rather than single solutions and centralized operators emerging as titans of the tech space, will we see the rise of utility ecosystems?

5 Major Trends to keep an eye on in 2018

THIS IS THE MOST SUBSTANTIAL CULTURAL SHIFT OF OUR TIME” — Gary Vaynerchuk

The majority of the content created is being consumed by our smartphones and tablets whether it is video or voice. Blog posts are getting less attraction, while video is steadily increasing and voice is booming! We live at a time of a great communication shift that is changing the current state of human beings and the way we do business.

Lately, I’ve been actively studying entrepreneurship by reading books, listening to podcasts and watching vlogs. Thanks to influential entrepreneurs like Gary Vaynerchuk, Grant Cardone, Tai Lopez and Lewis Howes, I’ve been able to realize and understand how impactful and massive the shift in digital-consumption actually is. Down below I discuss the factors to pay close attention to.

1. Voice

The predictions for 2020 are that 50% of all searches will be done by voice while Google voice search queries are up 35x since 2008. Why is this happening? The answer is: It is simply more convenient and it saves us time. We don’t have to look at our screens while we search for information. The main players executing this trend are Amazon’s Alexa, Google Home, and Apple HomePod.

Every business should have a Podcast. It is an incredible way to build up your personal brand, gain attention and drive traffic to your business and the other platforms that you are currently executing. Just like earlier mentioned voice-control, Podcasts save time! Today, there is a podcast for every taste and we can take part in the experience while driving, biking, exercising, cooking, or doing anything else where we are not able to watch a screen. It is even possible to create a YouTube show and upload the same content in both video and voice.

2. Mindfulness & Meditation

Today, depression and anxiety are at an all-time high even though we live in the greatest time of human history. The cultural shift taking place in the digital world is changing humans at a fast pace. According to Qualtrics, millennials check their phones on average 150 times a day, even at night. What kind of message is it sending to our brain and how is our mental and physical health responding to us being available 24/7 on more than 3 different platforms a time. We as humans were simply not prepared for this and our brains are not made for this mass consumption of media.

The popularity of meditation and mindfulness apps like Headspace and Calm are heavily gaining traction. Meditation is a $1B industry with Headspace already valued at almost $250M with over 8 million active users. Meditation and Mindfulness are also growing in fast-paced corporate environments to prevent sick leaves from burnout, anxiety, depression and chronic stress. The apps create a perfect counter effect for the earlier mentioned issues and can help us perform and do a better job while enjoying our daily challenges.

3. Blockchain

Blockchain will revolutionize the way we do business. It is taking over by storm and the underlying technology is incredible. Most of it is decentralized which takes security, reliability, and speed to another level. For high-risk takers, it is an interesting new space for investing in the technology. I won’t go into technical details. Instead, I’ll list some blockchain “projects” that are worth keeping an eye on.

  • Ethereum — “Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.”
  • Bitcoin — Bitcoin is an innovative payment network and a new kind of money that is open-source, public, nobody owns or controls Bitcoin and everyone can take part. Also, the first of its kind.
  • Ripple— A main competitor to the Society for Worldwide Interbank Financial Telecommunication, a.k.a. SWIFT. Ripple is connecting banks, payment providers and digital asset exchanges and corporates via the most advanced blockchain technology that is both scalable and secure while interoperating with various networks.

More information can be found on their websites.

4. Video

As obvious as it sounds, video is still highly underrated. For marketers, video content should be as self-evident as anything else in their business strategy. Our daily attention is on our smartphones and over 53% of all apps is spent on social media platforms where content is shared every second of the day. The attention of teens and Gen Z are on Music.ly and Snapchat, while millennials prefer Instagram and users over 35 can be found on Facebook, not to forget YouTube where there’s something for everyone. By knowing where your audience is spending their time, it makes it easier to know which platform the businesses main focus should be. Video is the perfect way to generate sales, leads, and transactions by entertaining your audience.

5. E-commerce

“67% of Millennials prefer to shop online rather than in-store”

Do you see what is happening here? I have some bad news for you if you are in the retail industry. Consumers are preferring to buy online rather than in store and large department stores are closing their doors and moving their activity and operations online. That is where the marketing budget should be spent as well, not on billboards and TV-commercials where the ROI would be significantly lower. When a commercial pops up on your television, where is your attention? I bet it is on your smartphone, not on the TV.

“53% of global internet users have made an online purchase in 2016”

A great example of the e-commerce success is the UK’s fastest growing company, Gymshark. The founder Ben Francis and his team have had a tremendous growth within 6 years, solely ONLINE! The forecast in revenue for 2018 is $100,000,000 while 2013 was a little over 500,000. (video) Most of their marketing is focused on influencers, which shows how underrated influencer marketing really is.Whatever you or your business is selling, make sure to have some kind of an online presence.

Remember that the market is always right no matter what. Know where your audience isspending their attention and execute. If you make great products and bring great value to your customers and audience, you will win!

Thank you for your attention!

If you enjoyed this post, please press share.

I am interested to hear what you think will be the upcoming trends for 2018?

Christian Nylund

Originally posted at Linkedin: https://www.linkedin.com/pulse/5-major-trends-keep-eye-2018-christian-nylund/

Meet the Nucleus Vision founding team

“If you want to go fast, go alone. If you want to go further, go together.” — African Proverb

Since starting Nucleus nearly four years ago, we’ve been working to generate a 10x improvement to the customer journey at a retail store. The Nucleus team is an interdisciplinary crew of dedicated professionals who are committed to transforming retail shopping experiences using IoT — and who have the skills and knowledge necessary to deliver on our grand vision.

Today, Nucleus has a staff of over 40 professionals, whose work experience spans the fields of communication, engineering, research, development, chipset design, IoT architecture, data analytics, product design, and retail. We are dedicated to exploring big-picture problems and dreaming up innovative solutions, which will then work their way into Nucleus’s products and services. We pride ourselves on doing the right thing instead of the easy thing, and on finding the best solution to any problem at hand. After all, we are looking to revolutionize an industry that dates back to the beginning of civilization.

Today, as we proudly announce our ICO, we are excited to introduce you to the primary driving force behind Nucleus.


Abhishek Pitti, CEO

Abhishek, a serial entrepreneur, conceptualized Nucleus while studying at Harvard Business School, and dropped out in 2013 to work on bringing his vision to life. Prior to Nucleus, Abhishek ran LorvenSoft Tech, a software services company providing digital technology solutions to a global suite of clients across the U.S., Canada and India. Abhishek has also worked as an Aeronautical Engineer for Gulfstream, a subsidiary of General Dynamics, where he first gained exposure to advanced sensor technology as he worked on next generation of private and military jets. In his decade-long professional career, Abhishek has also worked at Blackstone Group, the world’s largest private equity fund with over $350 billion worth of assets under management.


Avinash Pitti, CTO

Prior to joining his brother Abhishek on the Nucleus journey, Avinash spent over 14 years developing technology solutions across SAP, machine learning, artificial intelligence, and IoT for a wide range of global Fortune 500 companies such as Siemens, BP, Philips and Bank of America. Avinash holds a Masters degree in Computer Science from the University of Illinois, and together with Abhishek built a multi-million dollar software services organization with operations spanning across the U.S., Canada and India.

At Nucleus, Avinash heads the technology and blockchain development efforts, along with his talented team of 22 engineers.


Martin Dudley, CMO

Martin Dudley is one of the most prominent names in the U.S. retail industry. Having built his career at Levi Strauss, where he headed Sales & Marketing for over 15 years, Martin instantly connected with our company’s vision and joined the team to head marketing and business development. Additionally, Martin also oversees all retail partnerships; using his network and industry reputation, has gotten us in front of all Fortune 100 retail brands to convince them to buy into Nucleus’s product offering and vision. Martin also oversees all digital marketing and branding efforts at Nucleus.


Brooks Atwood, Head of Design

Brooks Atwood, an architect from the prestigious Columbia University, has perhaps the most interesting work experience of anyone in the entire Nucleus team. From a Professor of Product Design, Design Director for a live music events company, and a TED talks speaker to hosting a TV show on the FYI network, Brooks has had a very diverse range of professional experiences throughout his career.

Avinash and Brooks share their undergraduate alma mater, and all of his experiences seemed to fit perfectly into what Nucleus needed. Given Nucleus’s focus on brick-and-mortar retail stores, Brooks’s architectural background and deep design insights sparked his interest in our vision, and he joined us to transform Nucleus into a reality. Today, he is in charge of all things design at Nucleus.

This leadership team is strongly complemented by a solid management and execution team. We’re always on the lookout for smart talent to join our teams in the U.S. and India. Does our vision excite you? Think you fit the bill? Reach out to us at careers@nucleus.vision.

We strongly believe that our team is equipped with the knowledge and skills to realize our vision for Nucleus. Become a part of modern retail’s biggest disruption by participating in our ICO. Stay tuned for updates.

Continous development on production

Not able to decide on what project to focus on next, I’ve ignored common sense, and jumped in and just start coding. Forget all the smart ideas about finding the best idea, I’m now focused on getting a few plays live.

And to make it even more fun, I’m pushing everything straight to production. Most of the projects below are undesigned, unstructured, vague propositions or completely broken. But while I progress, these should evolve to fully grown products.

I’m working live on:

State.of.dev
Launched earlier this year, with actually pretty decent reactions, the next version involves public input and consensus on the data, and a way to visualize historical context.

State of Coin
With my experience in SEO, I’m working on State of Coin to launch a crypto coin related project. Eventually the product would involve a way for investors to make predictions that lead to buy/sell advice.

Commend.work
A way to capture professional recommendations. Much like LinkedIn recommendations but focused on continuous feedback.

Entrepreneurial.com
A product idea framework. Allows you to manage your ideas, capture them in a smart template, and help you with actionable advice to move them forward.

MAPMESS.COM — TEAM :

Stephen Robinson – Representative of MapMess in Canada

Steve currently is owner and founder of Twenty7 club. One of Canada’s foremost luxury, lifestyle and automotive private member social clubs.

On behalf of myself, and the team who have helped make Twenty7 possible, I would like to warmly welcome you to this one of a kind membership lounge in Canada.

I wanted to create a very special place with an informal atmosphere where friendship, business and fun intertwine. Somewhere I would love to go, bring guests, greet friends, tell stories and most importantly make stories worth the telling. The idea of bringing together fellow enthusiasts for automotive design, engineering, its rich history, exclusive events, and experiences was one that ignited a lot of passion. To some extent, your interest in luxury cars, Motorsports, and its associated activities has likely already led you to others who also share similar interests.

I have been an entrepreneur most of my life. One thing I know, only those that dare succeed. Join the daring – Join the club. Come on the adventure with us.

Twenty7 – Automobile Lounge

Since 2016, Twenty7 has provided discerning members with the perfect GTA location to meet, dine and socialize. The inspiration for our name and core beliefs comes from some of the most passionate, daring, fearless, dedicated and talented race car drivers in the world; such as: James Hunt, Mario Andretti, Alan Jones, Gilles Villeneuve, Patrick Tambay, Michele Alboreto, Nigel Mansell, Ayrton Senna, Alain Prost and, Jean Alesi. Who all at one time or another drove under number, 27.

Twenty7 has evolved into one of Toronto’s premier business and special interest Clubs, proudly occupying its custom built location minutes from the airport.

RadReads 139

Subscribe // Kick-ass side projects w/o coding, social media and blind tribalism

Good Morning, RadReaders!

I’m so excited to share this issue with you. Two 1-minute articles (#1,3) pack so much punch that I promise they’ll shift (or at least, challenge) your thinking.

We’ve got lots 🍳 over at RadJobs. Check out new roles at Adobe, Managed by Q, and Anchor and our customizable filters. We’ll be releasing our first Rad Jobs newsletter next week. Don’t sleep on it, and sign up here.

Our 44-week streak of new Patrons came to an end this week. I’m humbled by the generosity of the community. Thank you to the 138 beautiful souls who financially support us each month. And let’s start a new streak, click the green button below to support the #RadFam.

PS — Follow us over 👻: RadReads, Instagram and Facebook.

10 Startups in 24 Hours by Ben Tossell

1 Minutes | Medium | @arjunblj

This is so dang cool and is the ultimate guide to creating kick-ass side projects. The tools in this article are powerful and free — Airtable (database), Zapier (API across cloud services), Typeform (forms), Carrds (web pages) and Stripe (payments) and none require any coding. In fact, @patricksouth and I are building RadJobs using this exact framework. What is required is technical sensibility, knowing what they do and how they work together. And some good ideas! Follow the full thread on Twitter.

🎧 Bart Lorang: The world’s gonna have its way with you

Rad Awakenings Podcast | Apple Podcasts | Google Play | StitcherRSS

Bart Lorang is the founder and CEO of FullContact. FullContact is a high-growth, venture-backed company (having raised $50 mm) with 250 employees and multiple offices across the world. Bart and I discuss work-life balance and how he balances self-care, spending time with two young kids, while being a devoted father/husband. Bart drops amazing CEO wisdom on how empathy can be learned, thwarting your team’s fight or flight reflex and how culture is meaningless if it doesn’t terrify people. Finally, we talk control — both in business, but how with age we realize that we control much less than we think.

Rad Awakenings is sponsored by Skillshare. Join the online learning community with 17,000+ classes in business, design and more. Get one free month of unlimited access and try out amazing classes taught by experts such as Seth Godin, Simon Sinek, and Mari Andrew.

The deafening cacophony of social media and the spread of blind tribalism by Naval Ravikant

Naval Ravikant Tweetstorm | HT: @joemccann

We all want to belong to a tribe. These tribes are bound by a series of shared myths (the Sapiens argument). Enter social media, which eliminates the barriers for signaling goods, whether it’s conspicuous consumption, editorial outrage and campus social action. Naval then asks: “How does the move from real goods to signaling goods impact truth?”

13 ways to turn your career into an f-ing rocket ship

11 Minutes | Hackernoon | @miamabanta

I try to avoid listicles, but this is really good. There were lessons that really worked well for me when I was earlier in my career (no task is too small, take great notes); some I’m learning now (importance of design, good writing/speaking, everything is a sale); and new ones (the 5/25/150 for cultivating a network; Bart and I discuss my approach here @ 9:11). I do agree, if you follow these approaches there’s a good chance you’ll create your own luck.

Red Yellow Green: Bringing Personal Check-Ins to the Office by Bart Lorang

5 Minutes | Bart Lorang

This is a great example of “applied mindfulness.” Not the sitting under a tree kind, but the kind you can use in a business setting to excel. It starts by checking in with yourself, are you red (lizard brain), yellow (anxious) , or green (calm) — a simple practice, yet one that requires intention. Imagine creating the space with your executive team to put those feelings into the open. Presumably, if you keep it inside, they will bleed out into the discussion, through passive-aggression, conflict, or close-mindedness.

Below the Fold

FOUR PODCASTS
💰 Invest Like the Best: Understanding Blockchains (60 mins): A 💯 documentary on all things crypto, by the one and only Patrick_oshag featuring all the key players in this new ecosystem.

🔮 Rad Awakenings: Fred Ehrsam (60 mins): The backstory from a Crypto OG (Coinbase co-founder) on why he left Goldman and how newbies should consider the space.

😳 Rationally Speaking: Tim Urban on “Trying to live well as semi-rational animals” (50 mins): Incredible and hilarious conversation on the limits of human rationality.

🃏 Masters in Business: Ed Thorp the Man Who Beat the Dealer and the Market(1hr 40 mins): One of the godfathers of quant investing, agrees with Urban that humans as “locally rational.”

FROM THE COMMUNITY
🗣 Life@Work Conference (Oct 17–18 in Brooklyn): I’ll be speaking at this conference discussing fostering culture and innovation at Airbnb, Etsy, Uber, and WeWork. Use RADREADS for 30% off tickets.

💼 RadJobs: Dope new roles at Village (Ben Casnocha and Erik Torenberg’s new Venture firm) and Inspiring Capital. Sign-up for updates.

LAST WEEK’S MOST READ
🎯 What are cryptocurrencies? (50 mins, Ellington Management Group): Jargon-free, yet so well explained.

EDITOR’S NOTE
🙀 Are Anxiety and Performance Inversely Related (2 mins, RadReads): I appended this piece on the Sharpe ratio to clarify that it didn’t mean avoiding risk; on the contrary, regulating emotional volatility is the 🔑 to taking risk.

Postscript

I woke up this morning unsure about what I’d write in this section. At about 7:45 am the Internet Gods quickly took care of that situation.

Last week I got the iPhone 8 (it rocks). And all year, I’ve been very proud digital security. Pretty much all of my accounts have 2-Factor Authorization and I disabled SMS recovery (for this reason). But here’s the catch, I hadn’t saved all my back-up codes. And I awoke to find myself locked out of my Mailchimp account.

“Oh the places you’ll go” when something like this happens. Here’s a list of the feelings it triggered: sunk cost fallacy (“There goes 10 hours of work this week”), blame (“Man, I’m really going to let people down), poverty mindset (“This is my ‘job,’ and I can’t do it”), self-doubt (“You idiot, why didn’t you write the codes down”).

Not having your back-up codes is a pretty big deal, to the point that it’s still unclear how I’m going to get back into all my accounts. Thankfully, I wrote a blog post about this last week. 🙄

I was in a deep, dark valley, with no way out. At this point, there’s a decision to be made. Double down on your anxiety, lash out, or pause, regroup, and put things into perspective.

I started with my “go to” question: “What’s the worst thing that could happen to you?” Yes, there was the real possibility of losing 16k email accounts and the 2.5 year history of RadReads. (But I’m sure someone at customer support could eventually help.) I then did a quick Shirzad-inspired meditation, (rubbing your thumbs and forefinger) to settle my lizard brain. And then poof, a longshot solution emerged. I might have been logged in to Mailchimp on another computer at home, from which I could temporarily disable 2-FA. BOOM — problem solved.

These situations will inevitably happen in both life and as an entrepreneur. Knowing that a few quick tools (a question and a finger-rub) can help, gives me the confidence to plow forward. And the ability to get you guys today’s newsletter 😊.



RadReads 139 was originally published in RadReads on Medium, where people are continuing the conversation by highlighting and responding to this story.

Regal Coin already up to $20 and Crashing Coinexchange Servers!

43 BTC of volume came into coinexchange in 10 minutes during the opening of trading for $REC this morning. The extreme influx of traffic has been causing coinexchange server issues for the past several hours. Now that I have gotten back in it looks like they have disabled trading temporarily.

Start lending with Regal Coin!
http://bit.ly/2fBx0AE

Start trading on Coinexchange.io
http://bit.ly/2x5BRBK

Regal Coin already up to $20 and Crashing Coinexchange Servers!

43 BTC of volume came into coinexchange in 10 minutes during the opening of trading for $REC this morning. The extreme influx of traffic has been causing coinexchange server issues for the past several hours. Now that I have gotten back in it looks like they have disabled trading temporarily.

Start lending with Regal Coin!
http://bit.ly/2fBx0AE

Start trading on Coinexchange.io
http://bit.ly/2x5BRBK

Coinpressions Features and Benefits Sept. 2017

Features and Benefits of Coinpressions…

JOIN HERE: http://Downline4Life.com/coinpressions

Three and You Are Free — Three Sales (Direct or Spillover) and You Cover Your Monthly Subscription

25% Matching Matrix Bonus — Provides MASSIVE Opportunity for Experienced Marketers

3×10 Personally Forced Matrix — Can Generate Tens of Thousands of Dollars of Monthly Residual Income

Break Even Pool — Every Active Member Earns! (Wait, What?)

JOIN HERE: http://Downline4Life.com/coinpressions

Break Even Pool

A Game Changing Benefit for Coinpressions Active Members

Yes, every single active member of Coinpressions earns in our system. How cool is THAT?

We know that for some people the idea of residual income is VERY appealing but the prospect of having a monthly payment is very scary.

So, we are here to help!

JOIN HERE: http://Downline4Life.com/coinpressions

Here’s the scoop:

We allocate a small portion of every monthly subscription payment to the ground breaking Break Even Pool (“BEP”).

Then every month that our active members have made a renewal subscription purchase they qualify to get help from the BEP.

Those members who have not yet reached the Break Even Point to cover their subscription will receive a distribution from the BEP to help reduce the net cost of their next month subscription. There is no limit to the number of months that an Active member can benefit from the BEP.

Why is “Breakeven” So Important?

It’s very simple — as soon as you hit the Breakeven point two wonderful things happen:

(1) You now have, in essence, “Free” advertising to use to gain exposure for your main business, and;

(2) You AND the Coinpressions Community can begin to help YOUR referrals hit the Breakeven Point which will then begin to generate POSITIVE income to you

And that simple, Logical System is the duplicated to infinity depth of which TEN LEVELS of the matrix benefit you directly and as many as TWENTY Levels of matrix can benefit you through the 25% matching bonus!

Like we said, “How Cool is That?”

Want more details? Make sure you contact the person that sent you to this page!

Thanks!

Coinpressions team

Experienced Network Marketer with a Team of Program Administrators and Marketing Reach –

Residual Income Programs are Lucrative and Powerful for Leaders and Builders but Frustrating and Costly for New Marketers

JOIN HERE: http://Downline4Life.com/coinpressions

7 Reasons to Think Twice About Running an ICO

It’s difficult to understand the challenges a blockchain startup faces when you’re looking at it from the outside. Sure, the headlines sound great. A handful of well marketed companies are raising tens of millions of dollars, a lucky few are raising hundreds of millions.

It can be tempting to want to get in on the craze when other people are making it look so easy.

I’ve had a lot of people approach me about advising their crowdfund in the crypto space after I fundraised over $1 million for my entertainment company. I turn almost all of these people down.

My issue is that I don’t believe they understand blockchain well enough. I’ve noticed that they want to run an ICO for all the wrong reasons. Whether it is greed, a lack of understanding about the developing government regulations, or an ignorance about the economic and social properties of a token with built-in scarcity, many new companies getting into the blockchain industry have no idea what they’re getting into.

Take my experience: I was a member of the crypto community for years before I started my own company, and nothing could have prepared me for it. Before my startup, I remember wondering why so many blockchain startups would do or say things that seemed to directly contradict what the community wanted and believed. I couldn’t understand it until I stepped into their shoes and started my own company, and damn, things are so much different on the other side.

Below, find 7 reasons why you should think twice before running your ICO.

1. You become a public company still in the startup phase

Most companies go public after they already have a large audience and have done significant research and testing on their product/market fit. They also already have a product.

These companies didn’t start out this way. First, the founders of these companies had to work for years in establishing an attractive product/service, and then courting angel investors and an audience. A lot of this work was done “in the dark”, where they were able to test things and make mistakes without anybody watching.

If you run an ICO you immediately create a community around your project — for better or worse. And this community will hold you accountable for every move you make. Meaning that any of your mistakes can suddenly become amplified into PR nightmares that destroy you or your company’s reputation.

Every startup makes mistakes, and almost every startup needs to pivot from their initial idea. These commonalities can be a lot harder to deal with when you have a community with set expectations… and investments.

2. People will tie your success to the value of your token — no matter how successful/unsuccessful you are

An ICO is a customer’s first experience with your company, and the first “product” they receive is your token. Since blockchain is still very much in its early days, you most likely won’t have a full service/product ready for your customers by tomorrow.

So for many months (or even years), the only product that your customers can hold onto is your token. In a sense, your token becomes your company. If its price rises, people will suddenly perceive you as providing lots and lots of value to your project — even if you aren’t. If the token’s price falls, people will blame your company for not doing enough to keep the price up — even if you are working as hard as you can.

This can create a strange disconnect between you and the community. On any given day, you’re either the second coming of Christ, or you’re public enemy number one.

3. Things might be fine in bull markets, but bear markets hurt everyone

A lot of crypto markets are built on speculation. Meaning that a group of people believe that a token or project will have a certain value in the future, and so they don’t mind participating in that market.

This is all fine and dandy in a bull market, where the entire market is going up and prices don’t stop making new highs. But bear markets can be dangerous. Since the crypto markets deal with people’s money, there are many people who lose more than they can afford when the markets take a turn for the worst.

When the markets dried up in 2014–2015, so did the communities. As a startup it can be very hard to plan ahead for something like this. As the space matures, this will not be as much of a problem, but that time is still a long way off.

4. The community will have unrealistic expectations about what you can accomplish in a short amount of time.

Like I said earlier, most people are used to interacting with established businesses who have lots of resources for handling new acquisitions, customer outreach, product development, blunders, etc.

Because you’re not an established business, you probably won’t.

You are moving into an industry that is still finding its feet. There is no trail to follow. You are an innovator who must trail blaze and think outside the box. But this trailblazing comes at a cost: time. Whatever you are building is going to take time. More time than even you can predict.

The community wants to see your token’s value increase, it’s why they bought it in the first place. And the quickest way for that to happen is for you to release a steady stream of developments. Which isn’t always possible — or smart.

A community that is bored can very quickly turn into a community that is angry. And let me tell you — that anger is very contagious.

5. Lack of consumer-end applications for the blockchain makes interacting with cryptocurrencies awkward for both consumers and developers

Blockchain is still very much an experiment. No one knows where it will be in five years, let alone ten. Since the industry is so young, building even simple blockchain applications can cost a lot of money and take a lot of time.

From a consumer perspective, using those applications can then be very confusing and frustrating. This increases your chance of failure — if the market isn’t ready for blockchain innovation, it may be very difficult for you to expand outside of the crypto community.

Not to mention, if your startup doesn’t succeed (and quite a few don’t), your community might just villainize you forever.

6. It could harm your established brand image

If you’re already an established brand with a large community, you need to be careful about how you introduce your audience to a cryptocurrency. Remember that these tokens have a monetary value — and that some of your customers/devoted fans will be buying these tokens from third party sites and exchanges. Many of them won’t be investors, and may not understand the risk involved with your token’s volatility.

When you run an ICO the people buying your token are the ones who are taking the most risk. If things go wrong, they’re going to be upset. Upset enough to harm your brand image in a way that may take a very, very long time to repair.

7. Legality

Most newcomers to the space don’t understand the legal issues behind running an ICO. The first rule is to never call your ICO an ICO (I’m using it here because, unfortunately, it is still the industry standard and it gets the best SEO).

But things go much deeper than that. Most people who pitch me tokens are pitching me securities, and if your token is a security you are endangering yourself, your company, and everyone who purchases your token.

Get a lawyer who understands cryptocurrency law. It may be expensive, but it will be well worth it.

And there you have it, 7 reasons why you should think twice before running your ICO. If that didn’t scare you off, and you still intend to run an ICO, I wish you the best of luck. If you think you have a project that can prove me wrong, feel free to email me about it at clay@backo.earth.

MICROSOFT TRADE WITH IC3 AS FINANCIAL SYSTEM THROUGH BLOCKCHAIN TECHNOLOGY

Microsoft reported it has joined the Initiative for Cryptocurrencies and Contracts (IC3), involved employees at Cornell University, Cornell Tech, UC Berkeley, University of Illinois at Urbana-Champaign and Techno.

IC3 and Microsoft will cooperate to make the money related framework more adaptable, straightforward, and secure by examining blockchain applications for big business reception. Other industry accomplices incorporate IBM, Intel, Fidelity Labs, and Digital Asset. IC3 keeps on accepting subsidizing from a three-year $3 million National Science Foundation give issued in 2015.

Yorke E. Rhodes III, Global Blockchain Business Strategist at Microsoft, explained on the organization.

As we proceed with our adventure in blockchain, we have watched and perused crafted by the IC3 group and are inspired with their reasoning and the viewpoint they convey to the group. We are extremely lined up with the methodologies IC3 blockchain specialists are taking to address scale, disentanglement, and different subjects of enthusiasm for big business reception. The cooperative energies in their examination fit well with our dreams for big business scale blockchain arrangements.

Ari Juels, Co-Director of IC3 and educator at the Jacobs Technion-Cornell Institute at Cornell Tech in New York City, communicated a mutual vision amongst Microsoft and the activity. “IC3 was established to progress blockchain science, innovation and applications and said as To work all the more intimately with Microsoft’s blockchain specialists, who share vision of blockchain-based answers for cutting edge money related administrations.”

MICROSOFT TRADE WITH IC3 AS FINANCIAL SYSTEM THROUGH BLOCKCHAIN TECHNOLOGY

Microsoft reported it has joined the Initiative for Cryptocurrencies and Contracts (IC3), involved employees at Cornell University, Cornell Tech, UC Berkeley, University of Illinois at Urbana-Champaign and Techno.

IC3 and Microsoft will cooperate to make the money related framework more adaptable, straightforward, and secure by examining blockchain applications for big business reception. Other industry accomplices incorporate IBM, Intel, Fidelity Labs, and Digital Asset. IC3 keeps on accepting subsidizing from a three-year $3 million National Science Foundation give issued in 2015.

Yorke E. Rhodes III, Global Blockchain Business Strategist at Microsoft, explained on the organization.

As we proceed with our adventure in blockchain, we have watched and perused crafted by the IC3 group and are inspired with their reasoning and the viewpoint they convey to the group. We are extremely lined up with the methodologies IC3 blockchain specialists are taking to address scale, disentanglement, and different subjects of enthusiasm for big business reception. The cooperative energies in their examination fit well with our dreams for big business scale blockchain arrangements.

Ari Juels, Co-Director of IC3 and educator at the Jacobs Technion-Cornell Institute at Cornell Tech in New York City, communicated a mutual vision amongst Microsoft and the activity. “IC3 was established to progress blockchain science, innovation and applications and said as To work all the more intimately with Microsoft’s blockchain specialists, who share vision of blockchain-based answers for cutting edge money related administrations.”

Thank you for the addition!

Thank you for the addition! It’s very interesting…while corporations have (few of them) gotten better at marketing tactics, it seems their large monopoly on marketshare tends to get them beat. Also, vigilant individuals are looking out for the majority of us in some cases — people like you and I willing do deeper research to bring it out. In some cases, innovate different technologies as startups to get ahead of these large corporations as they lose more and more marketshare.

I’m really hoping Monaco is not trying to pull something over our eyes as supporters of their vision. I like what they’re vision is and I believe in it, but their tactics have me turned off. Very unprofessional and seemingly deliberate. Following much closer the next few weeks. Feel free to respond with anything you might find!

How to ICO — A List to Consider

By: Beryl Li, Founder at CapchainX

Many ICOs have failed (raised much less than intended) and will fail (will most likely disappear in the secondary market due to lack of fundamentals) but if done well, its not impossible to end up with the same fate as FileCoin and Tezos raising up to 200m USD in its token sale (primary offering).

You should allocate time for:

a.) time it takes to market your plans about your product and token sale to token buyers effectively (ex. Reddit, LinkedIn, Crypto community, conferences, Medium blogs, potential customers, Token funds).

b.) time it needs to prepare your white paper, updated website, product demos, videos, blogs and other materials to communicate the potential of your product.

c.) time you think your token buyers will need (ability) to pledge during the token sale throughout the auction period.

This can take from a month to a year depending how many followers you have, how active they are in the community, your existing customer base, your reputation as an entrepreneur and access to cryptocurrency investors.

You do not need to force yourself to have blockchain features if this is not your competitive advantage just for the sake of doing a token sale.

ICO fundraising have originated from decentralised organisations — blockchain related (early adopters). Today, non-blockchain companies are mirroring this fundraising strategy. Tokens are becoming more mainstream that even non-blockchain and crypto participants are starting to consider this method so do not force yourself to be in the blockchain space just to feel “legit”. Otherwise, its baffling.

Include:

a.) Problem youre solving

b.) Competitive Advantage (whats so special about your token sale and product?)

c.) Product roadmap

d.) Team (Can this team make it happen? token-vesting plans?)

e.) Token details (ex. mechanics, distribution, demand and supply economics, fundamentals)

If tokens in general get regulated, how do you protect yourself ?

I would highly recommend adopting strict compliance and forget the mindset of doing it now while its not “yet” regulated. Why? Because if it gets regulated you can experience fines, imprisonment, or worse, adopt compliance policies later on when you’re busier with your already growing business. I would take care of it now by looking for that optimal point of complying and getting things done.

Requirements include:

a.) Worse case scenario modelling depending on jursidiction

b.) Perhaps set up another entity in a less stringent jurisdiction?

c.) Going through the process with lawyers to note necessary KYC or exemptions to adpot (based on jurisdiction. UK/EU is actually not bad after putting together an exemption list with lawyers in the field)

d.) Term sheet for your auction token sale

e.) Any revised BOD or memorandum agreements

Just how fiat currency was once backed by gold or a basket of more stable currencies. The appropriate fundamental for tokens is company equity. Token buyers are buying the potential of the team and the idea behind product, and the probability of success.

The prices of your token should not only factor in your Demand and Supply economics, but also the factors that affect the valuations of your startup (team, market, economy, product). Also whats the probability of someone to redeem something illiquid from something already liquid in the form of tokens? In short, enoy the benefits of tokens while backing it with real fundamentals. This is why my startup, CapchainX, is backing the concept of Crypto Equity (tokens that can redeem emitted shares). Exciting huh? 😀

How to fail immediately:

a.) Attaching your tokens with voting rights and claim to asset/revenue can cause you unecessary regulatory constraints for failing the Howey and Reves tests.

b.) Representing credits for product usage is hard to measure causing unreasonable valuations. This is a complex way of valuing your tokens (why make it so difficult?!) Moreover, buyers may not even use product making it even more complex to measure the real potential of your product. But if your numbers make sense without having to use spreadsheets to see patterns in your numbers, why not? I would still prefer taking out the complexities of the valuation if possible!

Please do not create artificial supply, scarcity to revamp demand, print tokens whenever you want, and solely rely on demand and supply for the price of your token.

What to think about:

a.) Decreasing discount rates during token sale

b.) Valuation Floor and Cap for token prices given authorised supply

c.) Auction mechanism

d.) Incorporating factors influencing your token prices on the secondary market (unique per company)

Your success highly depends on how successful your marketing campaign is. Really.

How companies in the past did it:

a.) Some of these successful ICOs don’t even have product. Team members don’t even have a track record. So how did they lure investors? Style and strategy of their marketing campaign.

b.) Reach out to every single angel investor whether in crypto or in VC to let them know your token sale exists. Visibility.

c.) Sprinkling complex terms on the white paper (Not recommended. Communicating simply is key.)

a.) Creation of tokens. Are you using Ethereum smart contracts?

b.) Escrow set up for auction (how is this embedded on your website? Is it prone to hacks — can easily change the wallet address?)

c.) Database of the distribution

d.) Transfer of fiat/crypto for tokens at a determined price after auction

Questions and comments — i’d love to build this list over time. Send me an email beryl.li@capchainX.com!

Originally published at medium.com on August 31, 2017.

Very interesting thoughts.

Very interesting thoughts. “The true power of cryptocurrencies is the power to print and distribute money without a central power.” What if everyone starts mining or printing money as suggested? What would happen to the value of said money? Theoretically speaking it’s a lovely thought, but there is a balance in the economy that would be disrupted, people have to work for a living, otherwise you won’t be able to buy bread from your local baker, or get a cab anywhere, or buy flowers from a florist! In most cases it’s not kings and governments who limit people, its mostly their mentalities and thinking, nothing would stop a great creator from creating his big invention, or a writer from writing his best seller novel, or Christopher Columbus from finding America! That’s the true measure of greatness and success, that’s what sets the ‘few’ apart from the masses. For example look at Steve jobs, Richard Branson, Allen Sugar, they started from ground up, no limits would’ve stopped them, infact in most cases their hunger for success and money was their main drive, so what if everyone was comfortable financially? Would their be a ‘drive’ to create and progress? As much as I hate to admit it, ‘sometimes’ a centralised authoritative power keeps stability, otherwise their would be chaos?! Maybe the real missed opportunity here is finding out how to make ‘decentralised’ work for the people, economy, everyone! Anyway, cryptocurrency is decentralised, but not yet so, miners and whales are controlling the markets, still got some way to go!

Very interesting thoughts.

Very interesting thoughts. “The true power of cryptocurrencies is the power to print and distribute money without a central power.” What if everyone starts mining or printing money as suggested? What would happen to the value of said money? Theoretically speaking it’s a lovely thought, but there is a balance in the economy that would be disrupted, people have to work for a living, otherwise you won’t be able to buy bread from your local baker, or get a cab anywhere, or buy flowers from a florist! In most cases it’s not kings and governments who limit people, its mostly their mentalities and thinking, nothing would stop a great creator from creating his big invention, or a writer from writing his best seller novel, or Christopher Columbus from finding America! That’s the true measure of greatness and success, that’s what sets the ‘few’ apart from the masses. For example look at Steve jobs, Richard Branson, Allen Sugar, they started from ground up, no limits would’ve stopped them, infact in most cases their hunger for success and money was their main drive, so what if everyone was comfortable financially? Would their be a ‘drive’ to create and progress? As much as I hate to admit it, ‘sometimes’ a centralised authoritative power keeps stability, otherwise their would be chaos?! Maybe the real missed opportunity here is finding out how to make ‘decentralised’ work for the people, economy, everyone! Anyway, cryptocurrency is decentralised, but not yet so, miners and whales are controlling the markets, still got some way to go!

Cryptocurrency Driving Change: Corporate Social Responsibility, Impact Investing, & Now — The DAO


Link

CSR, Impact Investing, & Now The DAO

Smog was first heavily noticed by workers in Los Angeles during the 1950’s. In the 1980’s and 1990’s, businesses truly started implementing a phrase known as “corporate social responsibility” or CSR. To my knowledge, this is the time when society really started focusing on the negative affects of business — negative externalities — due to the Los Angeles Smog Crisis.

I believe corporate social responsibility was used as a psychological tactic by businesses to spin what they were doing, making it more acceptable to society. Entrepreneurship has always been about creating solutions and earning profits — supply and demand. Well, simply doing business stopped benefiting society more than the negative externalities created by the act.

Los Angeles pollution started around the 1950’s, but did not start really hurting residents until the 1990’s. Pollution became a dinner table conversation — families and children were really beginning to get damaged by the polluted environment. This became a reality when

Lung autopsies on more than 1,100 young people who died in accidents or were victims of homicide find that 27 percent had severely damaged lungs.”

Businesses were killing us! So the government stepped in, created some laws to restrict pollution, and businesses realized the psychological effect of CSR.

Next comes Impact Investing — this term has been used since the 1990’s, but has been really picking up since 2015. The term can be found all over the largest investment media outlet articles. Why? Because impact investing is not just about earning a profit — it’s about earning a financial AND social return. Meaning, if I invest in a company that makes it a point to and creates positive societal impacts, I made an impact investment. The ability to fix the negative societal problems with entrepreneurship and investing. Fixing the world AND earning a return on investment! Pretty powerful, right?

Corporate Social Responsibility and Impact Investments go together like peanut butter and jelly, but Decentralized Autonomous Organizations (DAOs) are the bread. THIS is what District0x is working to facilitate the creation of. With DAOs, nobody has to worry about a greedy CEO or CFO trying to pull the wool over our eyes. Instead, trustless contracts known as smart contracts are used to dictate DAOs. They are programmed a certain way and do what they are programmed to do within the set parameters.

So instead of a Walmart corporation TELLING US they are using CSR and impact investing — investors can take their money, invest in a DAO-focused company like District0x, and then use those tokens received from the investment to operate within the DAO environment.

District0x Aims to Facilitate The Creation of Decentralized Autonomous Organizations (DAOs)


District0x ICO Page

District0x project is working to facilitate the creation and operating of decentralized autonomous organizations. Many entrepreneurs believe this is truly a leap in the right direction to correcting the many flaws businesses in 2017 have. The DAO is sometimes referred to as the “true corporation” because the system is designed in a symbiotic way that works more efficiently and fairly than the shareholder-corporation model widely used today.

Hope this bit was insightful to you and maybe stimulated you to think about some other aspect of investing and technology! Feel free to share this with your network to help grow our decentralized, cryptocurrency community!

Until next time fellow cryptocurrency enthusiasts! d[^_^]b

Follow CrowdConscious on Medium
Follow CrowdedMind on Steemit

Below are some resources for beginning cryptocurrency enthusiasts:



Cryptocurrency Driving Change: Corporate Social Responsibility, Impact Investing, & Now — The DAO was originally published in Keeping Stock on Medium, where people are continuing the conversation by highlighting and responding to this story.

ICO Update: District0x at 29,000/58,550 ETH Soft Cap


District0x ICO Page

DistrictOx White Paper

“A collective of decentralized marketplaces and communities” — this already has my system-centric brain enticed as blockchain and cryptocurrencies essentially re-create the world we know today, but in a more decentralized manner.


DistrictOx White Paper

Above is the District0x White Paper abstract — I’m not a super-techie, but does it not seem like District0x is working to create a virtual, friction-free economy?

Voting rights are utilized to come to a consensus on everything ranging from a district’s branding and design decisions, to what functionality is added to the district via auxiliary modules, to the appropriate settings for any adjustable parameters of these modules, to the means in which any revenue collected by a district is to be distributed, and beyond.

You might already be catching onto what District0x is truly doing here — creating an environment where the creation and operation of Decentralized Autonomous Organizations (DAO) is better facilitated. What is a DAO? The Wikipedia Gods:

A decentralized autonomous organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization that is run through rules encoded as computer programs called smart contracts.[1] A DAO’s financial transaction record and program rules are maintained on a blockchain.[1][2][3] There are several examples of this business model. The precise legal status of this type of business organization is unclear.[4]


Source

Wow. Revolutionary really, isn’t it? There may be evidence that this is the ultimate direction in which entrepreneurs and business shift. More below.


Link

CSR, Impact Investing, & Now The DAO

Smog was first heavily noticed by workers in Los Angeles during the 1950’s. In the 1980’s and 1990’s, businesses truly started implementing a phrase known as “corporate social responsibility” or CSR. To my knowledge, this is the time when society really started focusing on the negative affects of business — negative externalities — due to the Los Angeles Smog Crisis.

I believe corporate social responsibility was used as a psychological tactic by businesses to spin what they were doing, making it more acceptable to society. Entrepreneurship has always been about creating solutions and earning profits — supply and demand. Well, simply doing business stopped benefiting society more than the negative externalities created by the act.

Los Angeles pollution started around the 1950’s, but did not start really hurting residents until the 1990’s. Pollution became a dinner table conversation — families and children were really beginning to get damaged by the polluted environment. This became a reality when

Lung autopsies on more than 1,100 young people who died in accidents or were victims of homicide find that 27 percent had severely damaged lungs.”

Businesses were killing us! So the government stepped in, created some laws to restrict pollution, and businesses realized the psychological effect of CSR.

Next comes Impact Investing — this term has been used since the 1990’s, but has been really picking up since 2015. The term can be found all over the largest investment media outlet articles. Why? Because impact investing is not just about earning a profit — it’s about earning a financial AND social return. Meaning, if I invest in a company that makes it a point to and creates positive societal impacts, I made an impact investment. The ability to fix the negative societal problems with entrepreneurship and investing. Fixing the world AND earning a return on investment! Pretty powerful, right?

Corporate Social Responsibility and Impact Investments go together like peanut butter and jelly, but Decentralized Autonomous Organizations (DAOs) are the bread. THIS is what District0x is working to facilitate the creation of. With DAOs, nobody has to worry about a greedy CEO or CFO trying to pull the wool over our eyes. Instead, trustless contracts known as smart contracts are used to dictate DAOs. They are programmed a certain way and do what they are programmed to do within the set parameters.

So instead of a Walmart corporation TELLING US they are using CSR and impact investing — investors can take their money, invest in a DAO-focused company like District0x, and then use those tokens received from the investment to operate within the DAO environment.

Hope this bit was insightful to you and maybe stimulated you to think about some other aspect of investing and technology! Feel free to share this with your network to help grow our decentralized, cryptocurrency community!

Until next time fellow cryptocurrency enthusiasts! d[^_^]b

Follow CrowdConscious on Medium
Follow CrowdedMind on Steemit

Below are some resources for beginning cryptocurrency enthusiasts:



ICO Update: District0x at 29,000/58,550 ETH Soft Cap was originally published in Keeping Stock on Medium, where people are continuing the conversation by highlighting and responding to this story.

WTF is The Blockchain?

The ultimate 3500-word guide in plain English to understand Blockchain.


http://www.forexnewsnow.com/top-stories/bitcoin-2016-summary-2017-forecasts/

Unless you’re hiding under the rock, I am sure you’d have heard of Bitcoins and Blockchain. After all, they are the trending and media’s favorite topics these days — the buzzwords of the year. Even the people who’ve never mined a cryptocurrency or understand how it works, are talking about it. I have more non-technical friends than technical ones. They have been bugging me for weeks to explain this new buzzword to them. I guess there are thousands out there who feel the same. And when that happens, there comes a time to write something to which everyone can point the other lost souls too — that’s the purpose of this post — written in plain english that any regular internet user understands.

Blockchain: why do we even need something this complex?

“For every complex problem there is an answer that is clear, simple, and wrong.” — H. L. Mencken

Unlike every other post on the internet, instead of first defining the Blockchain, we’ll understand the problem it solves.

Imagine, Joe is your best friend. He is traveling overseas, and on the fifth day of his vacation, he calls you and says, “Dude, I need some money. I have run out of it.”

You reply, “Sending some right away,” and hung up.

You then call your account manager at your bank and tell him, “Please transfer $1000 from my account to Joe’s account.”

Your account manager replies, “Yes, sir.”

He opens up the register, checks your account balance to see if you have enough balance to transfer $1000 to Joe. Because you’re a rich man, you have plenty; thus, he makes an entry in the register like the following:


The Transaction Register

Note: We’re not talking about computers only to keep things simple.

You call Joe and tell him, “I’ve transferred the money. Next time, you’d go to your bank, you can withdraw the $1000 that I have just transferred.”

What just happened? You and Joe both trusted the bank to manage your money. There was no real movement of physical bills to transfer the money. All that was needed was an entry in the register. Or more precisely, an entry in the register that neither you nor Joe controls or owns.

And that is the problem of the current systems.

To establish trust between ourselves, we depend on individual third-parties.

For years, we’ve depended on these middlemen to trust each other. You might ask, “what is the problem depending on them?”

The problem is that they are singular in number. If a chaos has to be injected in the society, all it requires is one person/organization to go corrupt, intentionally on unintentionally.

  • What if that register in which the transaction was logged gets burnt in a fire?
  • What if, by mistake, your account manager had written $1500 instead of $1000?
  • What if he did that on purpose?

For years, we have been putting all our eggs in one basket and that too in someone else’s.

Could there be a system where we can still transfer money without needing the bank?

To answer this question, we’ll need to drill down further and ask ourselves a better question (after all, only better questions lead to better answers).

Think about it for a second, what does transferring money means? Just an entry in the register. The better question would then be —

Is there a way to maintain the register among ourselves instead of someone else doing it for us?

Now, that is a question worth exploring. And the answer is what you might have already guessed. The blockchain is the answer to the profound question.

It is a method to maintain that register among ourselves instead of depending on someone else to do it for us.

Are you still with me? Good. Because now, when several questions have started popping in your mind, we will learn how this distributed register works.

Yes, but tell me, how does it work?

The requirement of this method is that there must be enough people who would like not to depend on a third-party. Only then this group can maintain the register on their own.

“It might make sense just to get some Bitcoin in case it catches on. If enough people think the same way, that becomes a self-fulfilling prophecy.” — Satoshi Nakamoto in 2009

How many are enough? At least three. For our example, we will assume ten individuals want to give up on banks or any third-party. Upon mutual agreement, they have details of each other’s accounts all the time — without knowing the other’s identity.

1. An Empty Folder

Everyone contains an empty folder with themselves to start with. As we’ll progress, all these ten individuals will keep adding pages to their currently empty folders. And this collection of pages will form the register that tracks the transactions.

2. When A Transaction Happens

Next, everyone in the network sits with a blank page and a pen in their hands. Everyone is ready to write any transaction that occurs within the system.

Now, if #2 wants to send $10 to #9.

To make the transaction, #2 shouts and tells everyone, “I want to transfer $10 to #9. So, everyone, please make a note of it on your pages.”

Everyone checks whether #2 has enough balance to transfer $10 to #9. If she has enough balance, everyone then makes a note of the transaction on their blank pages.


First transaction on the page

The transaction is then considered to be complete.

3. Transactions Continue Happening

As the time passes, more people in the network feel the need to transfer money to others. Whenever they want to make a transaction, they announce it to everyone else. As soon as a person listens to the announcement, (s)he writes it on his/her page.

This exercise continues until everyone runs out of space on the current page. Assuming a page has space to record ten transactions, as soon as the tenth transaction is made, everybody runs out of the space.


When page gets filled

It’s time to put the page away in the folder and bring out a new page and repeat the process from the step 2 above.

4. Putting Away The Page

Before we put away the page in our folders, we need to seal it with a unique key that everyone in the network agrees upon. By sealing it, we will make sure that no one can make any changes to it once its copies have been put away in everyone’s folder — not today, not tomorrow and not even after a year. Once in the folder, it will always stay in the folder — sealed. Moreover, if everyone trusts the seal, everyone trusts the contents of the page. And this sealing of the page is the crux of this method.

[Jargon Box] It is called ‘mining’ on the page to secure it, but for the simplicity of it, we’ll keep calling it ‘sealing.’

Earlier the third-party/middleman gave us the trust that whatever they have written in the register will never be altered. In a distributed and decentralized system like ours, this seal will provide the trust instead.

Interesting! How do we seal the page then?

Before we learn how we can seal the page, we’ll know how the seal works, in general. And as a pre-requisite to it is learning about something that I like to call…

The Magic Machine

Imagine a machine surrounded by thick walls. If you send a box with something inside it from the left, it will spit out a box containing something else.

[Jargon Box] This machine is called ‘Hash Function,’ but we aren’t in a mood to be too technical. So, for today, these are ‘The Magic Machines.’


The Magic Machine (aka Hashing Function)

Suppose, you send the number 4 inside it from the left, we’d find that it spat out the following word on its right: ‘dcbea.’

How did it convert the number 4 to this word? No one knows. Moreover, it is an irreversible process. Given the word, ‘dcbea,’ it is impossible to tell what the machine was fed on the left. But every time you’d feed the number 4 to the machine, it will always spit out the same word, ‘dcbea.’


hash(4) == dcbea

Given the word, ‘dcbea,’ it is impossible to tell what the machine was fed on the left. But every time you’d feed the number 4 to the machine, it will always spit out the same word, ‘dcbea.’

Let’s try sending in a different number. How about 26?


hash(26) == 94c8e

We got ‘94c8e’ this time. Interesting! So, the words can contain the numbers too.

What if I ask you the following question now:

“Can you tell me what should I send from the left side of the machine such that I get a word that starts with three leading zeroes from the right side of it? For example, 000ab or 00098 or 000fa or anything among the others.”


Predicting the input

Think about the question for a moment.

I’ve told you the machine has a property that we cannot calculate what we must send from the left after we’re given the expected output on the right. With such a machine given to us, how can we answer the question I asked?

I can think of one method. Why not try every number in the universe one by one until we get a word that starts with three leading zeroes?


Try everything to calculate the input

Being optimistic, after several thousand attempts, we’ll end up with a number that will yield the required output on the right.

It was extremely difficult to calculate the input given the output. But at the same time, it will always be incredibly easy to verify if the predicted input yields the required output. Remember that the machine spits out the same word for a number every time.

How difficult do you think the answer is if I give you a number, say 72533, and ask you the question, “Does this number, when fed into the machine, yields a word that starts with three leading zeroes?”

All you need to do is, throw the number in the machine and see what did you get on the right side of it. That’s it.

The most important property of such machines is that — “Given an output, it is extremely difficult to calculate the input, but given the input and the output, it is pretty easy to verify if the input leads to the output.”

We’ll remember this one property of the Magic Machines (or Hash Functions) through the rest of the post:

Given an output, it is extremely difficult to calculate the input, but given an input and output, it is pretty easy to verify if the input leads to the output.

How to use these machines to seal a page?

We’ll use this magic machine to generate a seal for our page. Like always, we’ll start with an imaginary situation.

Imagine I give you two boxes. The first box contains the number 20893. I, then, ask you, “Can you figure out a number that when added to the number in the first box and fed to the machine will give us a word that starts with three leading zeroes?”

This is a similar situation as we saw previously and we have learned that the only way to calculate such a number is by trying every number available in the entire universe.

After several thousand attempts, we’ll stumble upon a number, say 21191, which when added to 20893 (i.e. 21191 + 20893 = 42084) and fed to the machine, will yield a word that satisfies our requirements.

In such a case, this number, 21191 becomes the seal for the number 20893. Assume there is a page that bears the number 20893 written on it. To seal that page (i.e. no one can change the contents of it), we will put a badge labeled ‘21191’ on top of it. As soon as the sealing number (i.e. 21191) is stuck on the page, the page is sealed.


The sealed number

[Jargon Box] The sealing number is called ‘Proof Of Work,’ meaning that this number is the proof that efforts had been made to calculate it. We are good with calling it ‘sealing number’ for our purposes.

If anyone wants to verify whether the page was altered, all he would have to do is — add the contents of the page with the sealing number and feed to the magic machine. If the machine gives out a word with three leading zeroes, the contents were untouched. If the word that comes out doesn’t meet our requirements, we can throw away the page because its contents were compromised, and are of no use.

We’ll use a similar sealing mechanism to seal all our pages and eventually arrange them in our respective folders.

Finally, sealing our page…

To seal our page that contains the transactions of the network, we’ll need to figure out a number that when appended to the list of transactions and fed to the machine, we get a word that starts with three leading zeroes on the right.

Note: I have been using the phrase ‘word starting with three leading zeroes’ only as an example. It illustrates how Hashing Functions work. The real challenges are much more complicated than this.

Once that number is calculated after spending time and electricity on the machine, the page is sealed with that number. If ever, someone tries to change the contents of the page, the sealing number will allow anyone to verify the integrity of the page.

Now that we know about sealing the page, we will go back to the time when we had finished writing the tenth transaction on the page, and we ran out of space to write more.

As soon as everyone runs out of the page to write further transactions, they indulge in calculating the sealing number for the page so that it can be tucked away in the folder. Everyone in the network does the calculation. The first one in the network to figure out the sealing number announces it to everyone else.

Immediately on hearing the sealing number, everyone verifies if it yields the required output or not. If it does, everyone labels their pages with this number and put it away in their folders.

But what if for someone, say #7, the sealing number that was announced doesn’t yield the required output? Such cases are not unusual. The possible reasons for this could be:

  • He might have misheard the transactions that were announced in the network
  • He might have miswritten the transactions that were announced in the network
  • He might have tried to cheat or be dishonest when writing transactions, either to favor himself or someone else in the network

No matter what the reason is, #7 has only one choice — to discard his page and copy it from someone else so that he too can put it in the folder. Unless he doesn’t put his page in the folder, he cannot continue writing further transactions, thus, forbidding him to be part of the network.

Whatever sealing number the majority agrees upon, becomes the honest sealing number.

Then why does everyone spend resources doing the calculation when they know that someone else will calculate and announce it to them? Why not sit idle and wait for the announcement?

Great question. This is where the incentives come in the picture. Everyone who is the part of the Blockchain is eligible for rewards. The first one to calculate the sealing number gets rewarded with free money for his efforts (i.e. expended CPU power and electricity).

Simply imagine, if #5 calculates the sealing number of a page, he gets rewarded with some free money, say $1, that gets minted out of thin air. In other words, the account balance of #5 gets incremented with $1 without decreasing anyone else’s account balance.

That’s how Bitcoin got into existence. It was the first currency to be transacted on a Blockchain (i.e. distributed registers). And in return, to keep the efforts going on in the network, people were awarded Bitcoins.

When enough people possess Bitcoins, they grow in value, making other people wanting Bitcoins; making Bitcoins grow in value even further; making even more people wanting Bitcoins; making them grow in value even further; and so on.

The rewards make everyone keep working in the network.

And once everyone tucks away the page in their folders, they bring out a new blank page and repeat the whole process all over again — doing it forever.

[Jargon Box] Think of a single page as a Block of transactions and the folder as the Chain of pages (Blocks), therefore, turning it into a Blockchain.

And that, my friends, is how Blockchain works.

Except that there’s one tiny thing I didn’t tell you. Yet.

Imagine there are five pages in the folder already — all sealed with a sealing number. What if I go back to the second page and modify a transaction to favor myself? The sealing number will let anyone detect the inconsistency in the transactions, right? What if I go ahead and calculate a new sealing number too for the modified transactions and label the page with that instead?

To prevent this problem of someone going back and modifying a page (Block) as well as the sealing number, there’s a little twist to how a sealing number is calculated.

Protecting modifications to the sealing numbers

Remember how I told you that I had given you two boxes — one containing the number 20893 and another empty for you to calculate? In reality, to calculate the sealing number in a Blockchain, instead of two boxes, there are three — two pre-filled and one to be calculated.

And when the contents of all those three boxes are added and fed to the machine, the answer that comes out from the right side must satisfy the required conditions.

We already know that one box contains the list of transactions and one box will contain the sealing number. The third box contains the output of the magic machine for the previous page.

With this neat little trick, we have made sure that every page depends on its previous page. Therefore, if someone has to modify a historical page, he would also have to change the contents and the sealing number of all the pages after that, to keep the chain consistent.

If one individual, out of the ten we imagined in the beginning, tries to cheat and modify the contents of the Blockchain (the folder containing the pages with the list of transactions), he would have to adjust several pages and also calculate the new sealing numbers for all those pages. We know how difficult it is to calculate the sealing numbers. Therefore, one dishonest guy in the network cannot beat the nine honest guys.

What will happen is, from the page the dishonest guy tries to cheat, he would be creating another chain in the network, but that chain would never be able to catch up with the honest chain — simply because one guy’s efforts and speed cannot beat cumulative efforts and speed of nine. Hence, guaranteeing that the longest chain in a network is the honest chain.

Longest chain is the honest chain.


Longest chain is the honest chain.

When I told you that one dishonest guy cannot beat nine honest guys, did it ring any bell in your head?

What if, instead of one, six guys turn dishonest?

In that case, the protocol will fall flat on its face. And it is known as “51% Attack”. If the majority of the individuals in the network decides to turn dishonest and cheat the rest of the network, the protocol will fail its purpose.

And that’s the only vulnerable reason why Blockchains might collapse if they ever will. Know that, it is unlikely to happen but we must all know the vulnerable points of the system. It is built on the assumption that the majority of a crowd is always honest.

And that, my friends, is all there is about Blockchains. If you ever find someone feeling left behind and wondering, “WTF is the Blockchain?” you know where you can point them to. Bookmark the link.

Can think of someone right now who should read this? The ‘Share’ button is all yours.

About the author

Mohit Mamoria is the curator of a weekly newsletter, Unmade, which delivers one idea from the future to your inboxes.

Thanks for reading! :) If you liked it, please support by hitting that heart button below. 💚



WTF is The Blockchain? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

WTF is The Blockchain?

The ultimate 3500-word guide in plain English to understand Blockchain.


http://www.forexnewsnow.com/top-stories/bitcoin-2016-summary-2017-forecasts/

Unless you’re hiding under the rock, I am sure you’d have heard of Bitcoins and Blockchain. After all, they are the trending and media’s favorite topics these days — the buzzwords of the year. Even the people who’ve never mined a cryptocurrency or understand how it works, are talking about it. I have more non-technical friends than technical ones. They have been bugging me for weeks to explain this new buzzword to them. I guess there are thousands out there who feel the same. And when that happens, there comes a time to write something to which everyone can point the other lost souls too — that’s the purpose of this post — written in plain english that any regular internet user understands.

Blockchain: why do we even need something this complex?

“For every complex problem there is an answer that is clear, simple, and wrong.” — H. L. Mencken

Unlike every other post on the internet, instead of first defining the Blockchain, we’ll understand the problem it solves.

Imagine, Joe is your best friend. He is traveling overseas, and on the fifth day of his vacation, he calls you and says, “Dude, I need some money. I have run out of it.”

You reply, “Sending some right away,” and hung up.

You then call your account manager at your bank and tell him, “Please transfer $1000 from my account to Joe’s account.”

Your account manager replies, “Yes, sir.”

He opens up the register, checks your account balance to see if you have enough balance to transfer $1000 to Joe. Because you’re a rich man, you have plenty; thus, he makes an entry in the register like the following:


The Transaction Register

Note: We’re not talking about computers only to keep things simple.

You call Joe and tell him, “I’ve transferred the money. Next time, you’d go to your bank, you can withdraw the $1000 that I have just transferred.”

What just happened? You and Joe both trusted the bank to manage your money. There was no real movement of physical bills to transfer the money. All that was needed was an entry in the register. Or more precisely, an entry in the register that neither you nor Joe controls or owns.

And that is the problem of the current systems.

To establish trust between ourselves, we depend on individual third-parties.

For years, we’ve depended on these middlemen to trust each other. You might ask, “what is the problem depending on them?”

The problem is that they are singular in number. If a chaos has to be injected in the society, all it requires is one person/organization to go corrupt, intentionally on unintentionally.

  • What if that register in which the transaction was logged gets burnt in a fire?
  • What if, by mistake, your account manager had written $1500 instead of $1000?
  • What if he did that on purpose?

For years, we have been putting all our eggs in one basket and that too in someone else’s.

Could there be a system where we can still transfer money without needing the bank?

To answer this question, we’ll need to drill down further and ask ourselves a better question (after all, only better questions lead to better answers).

Think about it for a second, what does transferring money means? Just an entry in the register. The better question would then be —

Is there a way to maintain the register among ourselves instead of someone else doing it for us?

Now, that is a question worth exploring. And the answer is what you might have already guessed. The blockchain is the answer to the profound question.

It is a method to maintain that register among ourselves instead of depending on someone else to do it for us.

Are you still with me? Good. Because now, when several questions have started popping in your mind, we will learn how this distributed register works.

Yes, but tell me, how does it work?

The requirement of this method is that there must be enough people who would like not to depend on a third-party. Only then this group can maintain the register on their own.

“It might make sense just to get some Bitcoin in case it catches on. If enough people think the same way, that becomes a self-fulfilling prophecy.” — Satoshi Nakamoto in 2009

How many are enough? At least three. For our example, we will assume ten individuals want to give up on banks or any third-party. Upon mutual agreement, they have details of each other’s accounts all the time — without knowing the other’s identity.

1. An Empty Folder

Everyone contains an empty folder with themselves to start with. As we’ll progress, all these ten individuals will keep adding pages to their currently empty folders. And this collection of pages will form the register that tracks the transactions.

2. When A Transaction Happens

Next, everyone in the network sits with a blank page and a pen in their hands. Everyone is ready to write any transaction that occurs within the system.

Now, if #2 wants to send $10 to #9.

To make the transaction, #2 shouts and tells everyone, “I want to transfer $10 to #9. So, everyone, please make a note of it on your pages.”

Everyone checks whether #2 has enough balance to transfer $10 to #9. If she has enough balance, everyone then makes a note of the transaction on their blank pages.


First transaction on the page

The transaction is then considered to be complete.

3. Transactions Continue Happening

As the time passes, more people in the network feel the need to transfer money to others. Whenever they want to make a transaction, they announce it to everyone else. As soon as a person listens to the announcement, (s)he writes it on his/her page.

This exercise continues until everyone runs out of space on the current page. Assuming a page has space to record ten transactions, as soon as the tenth transaction is made, everybody runs out of the space.


When page gets filled

It’s time to put the page away in the folder and bring out a new page and repeat the process from the step 2 above.

4. Putting Away The Page

Before we put away the page in our folders, we need to seal it with a unique key that everyone in the network agrees upon. By sealing it, we will make sure that no one can make any changes to it once its copies have been put away in everyone’s folder — not today, not tomorrow and not even after a year. Once in the folder, it will always stay in the folder — sealed. Moreover, if everyone trusts the seal, everyone trusts the contents of the page. And this sealing of the page is the crux of this method.

[Jargon Box] It is called ‘mining’ on the page to secure it, but for the simplicity of it, we’ll keep calling it ‘sealing.’

Earlier the third-party/middleman gave us the trust that whatever they have written in the register will never be altered. In a distributed and decentralized system like ours, this seal will provide the trust instead.

Interesting! How do we seal the page then?

Before we learn how we can seal the page, we’ll know how the seal works, in general. And as a pre-requisite to it is learning about something that I like to call…

The Magic Machine

Imagine a machine surrounded by thick walls. If you send a box with something inside it from the left, it will spit out a box containing something else.

[Jargon Box] This machine is called ‘Hash Function,’ but we aren’t in a mood to be too technical. So, for today, these are ‘The Magic Machines.’


The Magic Machine (aka Hashing Function)

Suppose, you send the number 4 inside it from the left, we’d find that it spat out the following word on its right: ‘dcbea.’

How did it convert the number 4 to this word? No one knows. Moreover, it is an irreversible process. Given the word, ‘dcbea,’ it is impossible to tell what the machine was fed on the left. But every time you’d feed the number 4 to the machine, it will always spit out the same word, ‘dcbea.’


hash(4) == dcbea

Given the word, ‘dcbea,’ it is impossible to tell what the machine was fed on the left. But every time you’d feed the number 4 to the machine, it will always spit out the same word, ‘dcbea.’

Let’s try sending in a different number. How about 26?


hash(26) == 94c8e

We got ‘94c8e’ this time. Interesting! So, the words can contain the numbers too.

What if I ask you the following question now:

“Can you tell me what should I send from the left side of the machine such that I get a word that starts with three leading zeroes from the right side of it? For example, 000ab or 00098 or 000fa or anything among the others.”


Predicting the input

Think about the question for a moment.

I’ve told you the machine has a property that we cannot calculate what we must send from the left after we’re given the expected output on the right. With such a machine given to us, how can we answer the question I asked?

I can think of one method. Why not try every number in the universe one by one until we get a word that starts with three leading zeroes?


Try everything to calculate the input

Being optimistic, after several thousand attempts, we’ll end up with a number that will yield the required output on the right.

It was extremely difficult to calculate the input given the output. But at the same time, it will always be incredibly easy to verify if the predicted input yields the required output. Remember that the machine spits out the same word for a number every time.

How difficult do you think the answer is if I give you a number, say 72533, and ask you the question, “Does this number, when fed into the machine, yields a word that starts with three leading zeroes?”

All you need to do is, throw the number in the machine and see what did you get on the right side of it. That’s it.

The most important property of such machines is that — “Given an output, it is extremely difficult to calculate the input, but given the input and the output, it is pretty easy to verify if the input leads to the output.”

We’ll remember this one property of the Magic Machines (or Hash Functions) through the rest of the post:

Given an output, it is extremely difficult to calculate the input, but given an input and output, it is pretty easy to verify if the input leads to the output.

How to use these machines to seal a page?

We’ll use this magic machine to generate a seal for our page. Like always, we’ll start with an imaginary situation.

Imagine I give you two boxes. The first box contains the number 20893. I, then, ask you, “Can you figure out a number that when added to the number in the first box and fed to the machine will give us a word that starts with three leading zeroes?”

This is a similar situation as we saw previously and we have learned that the only way to calculate such a number is by trying every number available in the entire universe.

After several thousand attempts, we’ll stumble upon a number, say 21191, which when added to 20893 (i.e. 21191 + 20893 = 42084) and fed to the machine, will yield a word that satisfies our requirements.

In such a case, this number, 21191 becomes the seal for the number 20893. Assume there is a page that bears the number 20893 written on it. To seal that page (i.e. no one can change the contents of it), we will put a badge labeled ‘21191’ on top of it. As soon as the sealing number (i.e. 21191) is stuck on the page, the page is sealed.


The sealed number

[Jargon Box] The sealing number is called ‘Proof Of Work,’ meaning that this number is the proof that efforts had been made to calculate it. We are good with calling it ‘sealing number’ for our purposes.

If anyone wants to verify whether the page was altered, all he would have to do is — add the contents of the page with the sealing number and feed to the magic machine. If the machine gives out a word with three leading zeroes, the contents were untouched. If the word that comes out doesn’t meet our requirements, we can throw away the page because its contents were compromised, and are of no use.

We’ll use a similar sealing mechanism to seal all our pages and eventually arrange them in our respective folders.

Finally, sealing our page…

To seal our page that contains the transactions of the network, we’ll need to figure out a number that when appended to the list of transactions and fed to the machine, we get a word that starts with three leading zeroes on the right.

Note: I have been using the phrase ‘word starting with three leading zeroes’ only as an example. It illustrates how Hashing Functions work. The real challenges are much more complicated than this.

Once that number is calculated after spending time and electricity on the machine, the page is sealed with that number. If ever, someone tries to change the contents of the page, the sealing number will allow anyone to verify the integrity of the page.

Now that we know about sealing the page, we will go back to the time when we had finished writing the tenth transaction on the page, and we ran out of space to write more.

As soon as everyone runs out of the page to write further transactions, they indulge in calculating the sealing number for the page so that it can be tucked away in the folder. Everyone in the network does the calculation. The first one in the network to figure out the sealing number announces it to everyone else.

Immediately on hearing the sealing number, everyone verifies if it yields the required output or not. If it does, everyone labels their pages with this number and put it away in their folders.

But what if for someone, say #7, the sealing number that was announced doesn’t yield the required output? Such cases are not unusual. The possible reasons for this could be:

  • He might have misheard the transactions that were announced in the network
  • He might have miswritten the transactions that were announced in the network
  • He might have tried to cheat or be dishonest when writing transactions, either to favor himself or someone else in the network

No matter what the reason is, #7 has only one choice — to discard his page and copy it from someone else so that he too can put it in the folder. Unless he doesn’t put his page in the folder, he cannot continue writing further transactions, thus, forbidding him to be part of the network.

Whatever sealing number the majority agrees upon, becomes the honest sealing number.

Then why does everyone spend resources doing the calculation when they know that someone else will calculate and announce it to them? Why not sit idle and wait for the announcement?

Great question. This is where the incentives come in the picture. Everyone who is the part of the Blockchain is eligible for rewards. The first one to calculate the sealing number gets rewarded with free money for his efforts (i.e. expended CPU power and electricity).

Simply imagine, if #5 calculates the sealing number of a page, he gets rewarded with some free money, say $1, that gets minted out of thin air. In other words, the account balance of #5 gets incremented with $1 without decreasing anyone else’s account balance.

That’s how Bitcoin got into existence. It was the first currency to be transacted on a Blockchain (i.e. distributed registers). And in return, to keep the efforts going on in the network, people were awarded Bitcoins.

When enough people possess Bitcoins, they grow in value, making other people wanting Bitcoins; making Bitcoins grow in value even further; making even more people wanting Bitcoins; making them grow in value even further; and so on.

The rewards make everyone keep working in the network.

And once everyone tucks away the page in their folders, they bring out a new blank page and repeat the whole process all over again — doing it forever.

[Jargon Box] Think of a single page as a Block of transactions and the folder as the Chain of pages (Blocks), therefore, turning it into a Blockchain.

And that, my friends, is how Blockchain works.

Except that there’s one tiny thing I didn’t tell you. Yet.

Imagine there are five pages in the folder already — all sealed with a sealing number. What if I go back to the second page and modify a transaction to favor myself? The sealing number will let anyone detect the inconsistency in the transactions, right? What if I go ahead and calculate a new sealing number too for the modified transactions and label the page with that instead?

To prevent this problem of someone going back and modifying a page (Block) as well as the sealing number, there’s a little twist to how a sealing number is calculated.

Protecting modifications to the sealing numbers

Remember how I told you that I had given you two boxes — one containing the number 20893 and another empty for you to calculate? In reality, to calculate the sealing number in a Blockchain, instead of two boxes, there are three — two pre-filled and one to be calculated.

And when the contents of all those three boxes are added and fed to the machine, the answer that comes out from the right side must satisfy the required conditions.

We already know that one box contains the list of transactions and one box will contain the sealing number. The third box contains the output of the magic machine for the previous page.

With this neat little trick, we have made sure that every page depends on its previous page. Therefore, if someone has to modify a historical page, he would also have to change the contents and the sealing number of all the pages after that, to keep the chain consistent.

If one individual, out of the ten we imagined in the beginning, tries to cheat and modify the contents of the Blockchain (the folder containing the pages with the list of transactions), he would have to adjust several pages and also calculate the new sealing numbers for all those pages. We know how difficult it is to calculate the sealing numbers. Therefore, one dishonest guy in the network cannot beat the nine honest guys.

What will happen is, from the page the dishonest guy tries to cheat, he would be creating another chain in the network, but that chain would never be able to catch up with the honest chain — simply because one guy’s efforts and speed cannot beat cumulative efforts and speed of nine. Hence, guaranteeing that the longest chain in a network is the honest chain.

Longest chain is the honest chain.


Longest chain is the honest chain.

When I told you that one dishonest guy cannot beat nine honest guys, did it ring any bell in your head?

What if, instead of one, six guys turn dishonest?

In that case, the protocol will fall flat on its face. And it is known as “51% Attack”. If the majority of the individuals in the network decides to turn dishonest and cheat the rest of the network, the protocol will fail its purpose.

And that’s the only vulnerable reason why Blockchains might collapse if they ever will. Know that, it is unlikely to happen but we must all know the vulnerable points of the system. It is built on the assumption that the majority of a crowd is always honest.

And that, my friends, is all there is about Blockchains. If you ever find someone feeling left behind and wondering, “WTF is the Blockchain?” you know where you can point them to. Bookmark the link.

Can think of someone right now who should read this? The ‘Share’ button is all yours.

About the author

Mohit Mamoria is the curator of a weekly newsletter, Unmade, which delivers one idea from the future to your inboxes.

Thanks for reading! :) If you liked it, please support by hitting that heart button below. 💚



WTF is The Blockchain? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

How to raise startup money through a blockchain ICO white paper

There’s a new kid on the block of startup fundraising: the ICO.

ICOs, or Initial Coin Offerings, are a way of selling shares of a company to a crowd of investors through the blockchain, a digital ledger. Rather than approaching family members or institutions for money, entrepreneurs are now selling “tokens” by creating their own currencies with no clearing house, centralized arbitrators, or third-party interference.

This fundraising is no joke. On June 12, 2017, a project called Bancor raised more than $150m in Ether, a currency on the Ethereum blockchain. Even billionaire investor Tim Draper jumped in on the action. The number of ICOs per month has risen dramatically in 2017.

Here’s how it works in five steps:

  1. A startup creates an ICO white paper, detailing their technical plan to change the world and increase the value of their tokens.
  2. Ideally, the team has a working prototype, marketing materials, and legal backing to increase investor confidence.
  3. The startup selects a method and terms for selling their tokens, with a goal of reaching crowdfunding targets by a specific deadline.
  4. Investors hear about the sale through the startup’s PR efforts, and often on ICO exchanges where tokens are bought and sold.
  5. When the startup’s goal is reached, the project is funded and the tokens are distributed to the investors. The startup receives cryptocurrencies such as Ethereum, fiat money such as USD, or a mixture of currencies.

The white paper is a critical component of the ICO. A successful white paper: 1) outlines the project, 2) describes the token distribution method, 3) lists the team members and their backgrounds, and 4) provides insight to the mechanism for creating value.

An entrepreneur or team looking to cash in on the ICO craze would be well-served to study some successful white papers from companies that met their fundraising goals. Notable white papers include:

An underlying theme of these successful ICOs is that they extended core technologies, creating new use cases for the blockchain itself. That said, a close look at an ICO calendar published by TokenMarket reveals that there are startups innovating new technologies in sectors such as data storage, gambling, and energy.

After reviewing a number of ICO white papers, here is a 10-section format I developed:

  1. Intro / Overview
  2. Token Description
  3. Sale Methodology
  4. Redemption Process
  5. Security Guarantees
  6. Economic Considerations
  7. Potential Risks
  8. Team
  9. Future Work
  10. Conclusion

Note that white papers are an open, unregulated format and as such, it is advisable to seek legal counsel when writing these documents.

That said, with a smart white paper, marketing, and well-executed strategy, startups might find that the tradeoffs of an ICO are favorable to their longterm business goals.

On Identity, Blockchain, and Token Offerings

With Civic’s recent sale of 33 million worth of tokens, I thought it important to share my thoughts about identity, blockchain, and token offerings (I’ll share my thoughts about blockchain and identity in a second post).

The Civic token sale is an interesting point to start given the amount of money raised for the company and the recent, spectacular rise of ICOs (Initial Coin Offerings). To contribute value, an identity platform needs to have scale in three key areas to establish network effects: organizations that issue identity, organizations that need to consume identity, and related attribute providers that add enhanced value to the network. For example, Visa’s platform needs scale on the bank side of the platform to turn bank customers into cardholders, the merchant side of the platform so their will accept their cards are accepted everywhere, and partnerships like Southwest Airlines and Chase add enhanced value to the network by tailoring value to market segments.

According to Alexa.com, Civic, which was founded in January 2016, had virtually no user traffic prior to the traffic driven by the token sale.


Civic.com traffic graph

This isn’t to say that the Civic team isn’t talented — they are very talented — or that they won’t be successful with the 33M in sold tokens they just generated, it just means that they are starting with no visible network effects or sustained growth. Given the eye popping amount of money raised, it’s hard to call that anything other than speculation. And the speculation problem appears linked to ICOs in general rather than Civic specifically: Status.im just raised over 270 million in three hours through an ICO while Status.im’s more established competitor, Coinbase, targeted a 100 million raise on the back of sustained, excellent performance.

If you think of tokens like bitcoins, then Civic is essentially issuing their own “identity currency” and buyers are buying at the value Civic set in the hopes that demand for the tokens go up faster than supply of the tokens increases thereby appreciating the value of the token so they can sell it later. The problem of course is that 27,000+ buyers, while impressive for a pseudo-investment/revenue event, is not nearly enough to make the network credible to a government agency or a bank in terms of credentialed users. If the hype fades and there is an absence of significant adoption of organizations that wish to use the service and no substantial growth in the user base, then Civic will be back right where they were before the ICO albeit with a lot more runway.

The main takeaway for me is that Civic would have been an extreme to impossible long-shot to raise 33 million from sophisticated institutional investors and that the speculation in the ICO space is out of control.

HelloSugoi Sells their First Event Ticket on the Ethereum Blockchain

HelloWorld

On Thursday, June 23 at 4:45pm in Santa Monica California, HelloSugoi sold the first of what we hope will be many millions of event tickets.

It’s official: The revolution in event ticketing has begun.

Although our blockchain-based “competition” may have fancier websites and white papers selling promises, HelloSugoi has delivered an actual product.

“Real artists ship.” — Steve Jobs

It ain’t pretty, but it works.

“If you’re not embarrassed by the first version of your product, you’ve launched too late.” — Reid Hoffman

In addition to shipping our product, we’re excited to announce that we’re selling tickets to the State of Digital Money, where influential thought leaders, stakeholders, and innovators will discuss cryptocurrency market trends and opportunities for the future. The event will take place at Cross Campus in downtown Los Angeles on Saturday, July 22nd.

Some of the biggest names in the cryptocurrency space will be in attendance: Brock Pierce, Managing Director of Blockchain Capital, Alyse Killeen, Managing Partner at StillMark, and Jesse Grushack, Co-Founder of Ujo Music and Product Strategist at ConsenSys — a literal who’s who of the digital currency movement.

We couldn’t have asked for a more relevant first use case.

How We Do

We’re well aware of the seemingly insurmountable challenges we face in attempting to fix a very broken industry. We openly accept these challenges and are not deterred by the obstacles we face.

Bring it on, baby.

We’re in the business of selling event tickets, not blockchain. We use blockchain because it enables us to provide the best value for our customers, not because it’s the sexiest new technology on the block, ahem.

We understand that the success of a ticketing platform has everything to do with access to event ticket inventory. We understand that rethinking how value is captured and distributed in the secondary market is a far better solution than trying to eliminate it all together. And we understand that, above all else, great businesses serve the needs of their customer.

Thought Leadership

Angello and I host the most popular blockchain Meetup in Los Angeles, called “Real World Blockchain.” We use this forum to discuss various use cases for blockchain technology (music industry, sharing economy, IoT, etc). We’re driven by a passion to engage and educate the community at large, in an attempt to introduce blockchain to as many people we possibly can.

Since embarking on this mission, we’ve facilitated talks at Pivotal Labs, Product School, Techtinx, the Herb Albert School of Music, the Anderson School of Management, the University of California Riverside, the Southern California Music Industry Professionals Meetup, the San Francisco Ethereum Developers Meetup, and the Society of Women Engineers.

Our location in the “Entertainment Capital of the World” give us access to influential musicians, promoters, and artists, who regularly seek our advice when looking to learn more about blockchain technology.

Watch our Meetups here.

Read our articles here.

Who We Is

Jason Robert — Before co-founding HelloSugoi, I was a professional musician. My first paying gig was as a drummer was at age 14. I’ve since toured with and opened for The Roots, Slick Rick, George Clinton, Robert Randolph, the Gaslamp Killer, and Boys II Men. I’ve played major festivals like Bonnaroo and the Newport Folk Festival.

In 2011, I began songwriting and producing. Within a year of living on Los Angeles, I got signed to the UK based Tru Thoughts label. I’ve since released 2 EPs and 2 full-length albums with enthusiastic support from tastemakers at NPR and the BBC, toured North America and the UK, and accumulated millions of plays across popular streaming platforms like Spotify and Apple Music.

In 2015, I signed a songwriting deal with BMG Production Music, the 5th largest publishing company in the world. I’ve since placed songs in in high-profile TV shows like “This is Us” on NBC, “Crazy Ex-Girlfriend” on CBS, and “The Mindy Project” on FOX.

I’m also scoring an Original Netflix Series called “We Speak Dance,” which is currently in production.

Angello Pozo —The Peruvian born, Los Angeles raised software engineer is the brilliant mastermind behind HelloSugoi’s innovative technology.

Ever since he was young, he’s wanted to be an inventor. I recall an evening at a Meetup hosted by Opodz in Little Tokyo. I began attending the Learn Teach Code meetup to accelerate my coding skills. It was that there I met Angello, who was helping to facilitate the meetup.

I sought his expertise in implementing a React component I was having trouble rendering. After he quickly solved the problem, I asked him how he got in to software engineering. His answer was perfect. He said, “Ever since I was a kid, I’ve wanted to be an inventor. I love building things. I also happen to really love computers,” at which point he lifted his Macbook close to his chest in a warm embrace.

Angello began learning Linux in 1999. Soon thereafter, he was playing around with websites and tinkering with circuits. In 2004, he moved to Riverside CA to attend the University of California. He earned a degree in Electrical Engineering, and later a Masters in Intelligent Systems.

While at UCR, he built an image processing grading application and implemented an intelligent systems algorithm based on auction theory with a set of Aria Robots. He was an active member of IEEE, where he conducted workshops with industry leaders. After UCR, he founded and worked on various startups in the Los Angeles area.

These days, Angello is a smart contract ninja. He’s written the logic to manage events, tickets, and user accounts with the Solidity programming language. In addition to building the platform, he’s currently authoring a book on programming in Solidity.

He’s alos an instructor at the newly launched DApperNetwork Blockchain Developer Bootcamp, which is the very first blockchain developer bootcamp in Los Angeles.

Why We Is

HelloSugoi is a revolutionary event ticketing platform.

Life is about experiences. Experiences can inspire, change lives, and bring people together.

Whether a concert, sporting event, conference, or gallery opening, we strive to facilitate amazing experiences.

Our innovative platform is built on the Ethereum blockchain. This remarkable technology enables us to do what no other event ticketing platform can.

We promise affordable ticket prices, safe and secure ticket resale or transfer, and 100% guaranteed ticket verification.

Goodbye fees, fraud, and frustration.

HelloSugoi.



HelloSugoi Sells their First Event Ticket on the Ethereum Blockchain was originally published in HelloSugoi on Medium, where people are continuing the conversation by highlighting and responding to this story.

Sustainability in the Crypto token market

By: Beryl Li (CEO|CapchainX)


Crypt0 Equity

The Crypto Asset market is valuable because it accelerates liquidity in private markets. However, I believe the current way ICOs and tokens are issued today is unsustainable. The gaps of understanding between buyers and sellers is causing a bubble formation. There are no fundamentals, no underlying equity but artificial demand to access product. There are improvements that can be made. The solution for a responsible liquid secondary market is providing tokens that are backed by real shares — Crypto Equity.

Point 1: Token issuance is a solution to an illiquid secondary market

To summarise the findings from a thesis I’ve written, there is demand for a secondary market for private markets — a huge untapped opportunity. There is (1) exponential growth in transactions in alternative financing to fund primary markets. (2) There are more entrepreneurs venturing out with increasing members in the unicorn club in the last years. (3) There is a longer trend staying private (11 years to IPO, 7 years for M&A). (4) Illiquidity is caused by asymmetric information in non transparent nature of private markets. Hence, price determination is usually done by brokers or private placement companies charging an average of 7%. (5) It also takes an average of 90 days to conduct due diligence, get board permission, and settle transactions. (6) Despite all these, there is still exponential revenues reflecting the interest for vested founders, early employees and primary market investors to cash out early and buyers to diversify portfolio of investments ($900m in the first half of 2014 for one of the US based private placement companies- SecondMarket now Nasdaq Private Market).

I believe having a market is important as it serves as checks and balances among players.The market is sensitive to new information. When the startup is hot, limited supply drives prices up until no one is willing to buy the offering. The same happens with lemons in the market where market corrects prices. Bubbles corrects prices by weeding out unsustainable players but when it implodes it results to consequences such as a loss of jobs, default on debt, etc. (ex. 2007 Financial crisis/ Internet bubble).

With social media, globalisation, and identifiable groups in the community, the market is quick at adjusting to new information and punishing players that have a linear alignment in compensation. When mispricing happens, the market seeks for more information to arbitrage, moving prices closer to fundamentals (in theory).

The issue here is, the market corrects at the expense of investors that failed to identify a lemon. This can be driven by irrational sentiment as Maynard Keynes called it animal spirits or as Robert Shiller expounded on herding behaviour. There is also Moral Hazard waiting for regulators to ensure order, transparency and efficiency. Unfortunately, technology evolves so quickly that it makes it difficult to find the right policy that provides balance between promoting innovation and protecting the market against risks.

Point 2: The current ICO token market is Unsustainable

Theres a huge potential for tokens because it makes a secondary market possible. However, the first wave of tokens today are not sustainable. There is liquidity but there is no transparency- an information gap in the token’s fundamentals, which means buyers don’t know what they are getting into.

1. Misalignment of incentives for team to deliver

The moment founders or early employees get to cash out their Ethers from their token sale they no longer have an incentive to deliver. Their tokens get recycled back in the secondary market but they already have cash upfront. The average 4 year Vesting and 1 year cliff periods of their tokens need to be in place. This can be done through a token plan with a token cap table.

2. Mismatch on what the value of these tokens truly represent (credits vs equity)

Tokens are equivalent to credits to use product just how tickets are priced for a concert or Top-up to make a phone call. There are no fundamentals in these tokens but its price is determined by the scarcity to access product when released. Buyers are buying access to the product.

In addition to this point, the scarcity of supply of tokens to use product is artificial to drive prices higher. Why not accept Fiat currency, BTC or ETH to access product? That’s the creation of “artificial demand” for tokens.

Here is the gap, buyers don’t know what they are buying. Token buyers are not buying tokens (credits, loyalty points, ticket) to use product. In fact, they might not even use the product. They are attaching the value to the potential of the product to create future revenue streams and the potential of the team to deliver. The current behaviour of tokens reflects the valuation of the startup building product and not credits to access product. Buyers want to be “invested” in the startup. Therefore, equity should be attached to the value of these tokens.

Token buyers are not buying the real fundamentals they think they are getting — a sign of a bubble formation.

3. Misunderstood gap between ETH, BTC and Other tokens

ETH and BTC are in a different tier. Lets apply the analogy of gold and silver. These commodities could have easily been emerald, sand or bronze but gold is perceived and accepted valuable by the market. If I got my gold from Japan with yen, India will accept gold for rupees. The same is happening in the digital age with cryptocurrency.

BTC presented the use case for a decentralised “commodity” proving blockchain’s use case while ETH does the job of BTC while representing credits used to self enforce smart contracts widely used today and tomorrow because of its enterprise alliances with credible institutions using smart contracts. The market perceives ETH and BTC as the new gold and silver of the digital age. While other tokens are not yet proven valuable.

Point 3: Crypto Equity is the solution

To issue more sustainable tokens, it should be backed with the company’s equity if buyers want to be invested in the startup. This is similar to fiat currency that is backed by commodities and baskets of other stable currencies. Equity is more applicable in the case of companies because shares represent the valuation, voting rights, and a claim to its earnings such as dividends and claim to its assets. There should be correct alignment- skin in the game for market players, protection for supporters, fundamentals reflected in its prices.

Next: Crypto Equity and the regulatory landscape

[CapchainX is the next generation crypto equity platform to create, manage and trade equity on the Ethereum blockchain. Tokens can be exchanged for share certificates. Sign up on CapchainX and help the team improve Alpha!]

3 Technologies, Darwin Labs believes will play a vital role in the next tech revolution

In 1831, during a series of experiments, a scientist, Michael passed current through one coil and found current induced in another coil. At that moment little did anyone know, Michael Faraday had changed the world forever

We have often been questioned,

’Why are most of our products at Darwin Labs centered around new technologies like Virtual Reality, Blockchain and Artificial Intelligence?’

Here’s a short version of the answer-

At Darwin Labs, we believe self-expression evolves us individually, and technology evolves us collectively.

Here’s the longer one-

Through the last 200 years, we have advanced more than what we did in the last 2000 years. It is technology that ushered us to this age of immense growth and development. And undoubtedly, it is the next technology revolution that will shape our road ahead.

Talking about the future, if there are three technologies that we can absolutely vouch for. They are Blockchain, Virtual Reality and Artificial Intelligence.

Why?

1) Blockchain

At the dawn of human civilization, one of our ancestors made a great discovery, if he could exchange the meat of a mammoth for a giant tiger skin, he would be able to hunt in harsh cold conditions a well.

What this led to, was the dawn of the first trade system- the barter system. But, there were problems– Carrying utilities around for exchange was difficult and calculating the value of utilities was complicated. (Was exchanging a bag of salt for a dozen of apples a good deal or a costly one?)

As time passed, a Lydian King resolved this by inventing a gold-silver coin system. Now, utilities could be measured in a common currency. A bag of grain could be worth two coins and a full day service of a man was worth three. Lydia flourished making it one of the richest ancient empires. Soon, other empires started minting their own coins. Eventually, coins evolved into paper currencies, empires into countries and kings into governments.

Today, governments centrally regulate trade and finances of the country. But, there is a problem– it’s centralized, closed and corruptible. The government can change its value and cause hyperinflation like it did in Germany or Zimbabwe (where the worth of 100 trillion Zimbabwean dollars became 40 US cents).

The evolution of finance & trade exchange into a decentralized, open & secure system is the need of the hour. This brings us to Blockchain technology.

Blockchain is a type of decentralized and encrypted database that keeps records of digital transactions. It’s an open ledger where a single addition is updated across all the people who have the access to it. Plus, It’s cryptographic nature allows people to trust each other and transact peer to peer. Hacking or corrupting it is virtually impossible!

In short, it has the potential of building a trust-free incorruptible society.

Blockchain has applications that go way beyond obvious things like digital currencies and money transfers from electronic voting to property & asset records. It will disrupt hundreds of industries that rely on intermediaries, including banking, finance, academia, real estate, insurance, legal, health care and the public sector — amongst many others.

Eventually, we can evolve into a future without governments or regulatory bodies where the people can transact without having to worry about ingenuity or information corruption.

How Blockchain can help us build a better future?

Two friends, Jack and John get a car insurance from two companies. Jack has a car accident. He goes to his traditional insurance company and shows them the car. The approval is sent. And the compensation is transferred to his account after a few weeks. A few days later, John too has a car accident. His Blockchain+IoT company detects the damage within seconds with the help of sensors technology fitted in the car. Based on the damage, the company transfers the compensation a few minutes later.

Undoubtedly, Blockchain is evolving the future as we know it every day. We at Darwin Labs are using Blockchain technology among multiple brands to contribute to this evolution.

At BlockSmiths, we are leveraging this technology to build a portfolio of products. With Satoshi Studios, we are incubating other Blockchain startups in Asia who want to build a better and trust-free society together.

2) Virtual Reality

Mario, Mermaids or Matrix, we humans have always been dreamy by the thought of living in a fantasy world. In the real tech world, if you dream long enough, you might make it come true.

Our fondness with visuals representation dates back to the prehistoric times when cavemen expressed their sentiments through stone carvings on the walls of caves. Centuries later, we discovered paper and drawing became more accurate and simpler than ever. We became artists. We would tell stories through drawing & paintings, taking viewers into a different dimension.

But, it still wasn’t real or even close to real.

The discovery of graphics in 1950’s changed everything. Then, we weren’t trying to just replicate objects and scenery, we started trying to replicate reality. This race led to the birth of virtual reality.

Virtual reality is a technology that generates realistic images, sounds and other sensations that simulate a user’s physical presence in a virtual or imaginary environment.

Virtual Reality has been one of the biggest game-changer in the visual space. Virtual Games mirroring our lives are just the beginning of what it can achieve. With time, it also has extended into mixed reality and augmented reality.

It allows us to deliver immersive experiences where users cannot possibly differentiate between the real world and the virtual world. It’s applications can disrupt multiple industries ranging from marketing to businesses and from manufacturing to shopping. Furthermore, It could revolutionize the entire entertainment & communication industry:

Recent developments in virtual reality have made it possible for people at different ends of the world to experience conversations as if they are present at the room through life-like avatars. You could physically experience every meeting or every event held in the world! You could even watch a live concert or the FIFA final from the stadium while you are actually sitting at your home.

Virtual Reality will change the way we experience reality. It could also be a better version of reality.

At Darwin Labs, we are trying to bridge the gap between reality and virtual reality every day. Our team at Virtualists has teamed up with India’s leading Jewellery Brand, PC Jeweller to build the world’s first complete virtual jewellery store.

3) Artificial Intelligence

Artificial Intelligence has been the buzzword for decades now. Now, It’s learning more about us than we can have learned about it in the last 50 years.

Technology was born for out of a reason- To make things simpler, affordable and more efficient. Over the millennia, counting stones evolved into Abacus and the Abacus into a computer. But, what if we could remove human interference completely? What if we could make machines intelligent enough to do our work for us? Or completely automate it?

This was resolved when scientists realized that complete Automation can be attained when you train a machine with hundreds of use cases. It’s only then that it knows how to make the right decisions. It becomes intelligent, artificially intelligent.

But now machines are getting smarter than us. As much as it can be a bane, it’s also a boon. It can single-handedly be responsible for driving the next tech revolution. If AI continues to serve the purpose of assisting humans to advance better, human intelligence & artificial intelligence could do wonders together.

Science, Robotics, Manufacturing, Computing… the list still goes on about the industries that Artificial intelligence has already evolved. But it has not yet reached it’s complete capability. What we can achieve with AI is mesmerizing.

Through years of digital networking and usability, we have created a digital footprint of ourselves. This digital footprint is helping us build a digital intelligent version of ourselves which could assist us in making better decisions or even handle mundane tasks itself. It could pay your bills automatically, drive you home and light your home automatically when you enter.

As Artificial intelligence paves the way for a better future ahead, we at Darwin Labs are fusing Artificial Intelligence with human intelligence to build products at Virtualists, Algorithm-trading and many other products.

At Darwin Labs, we understand that these potential and impact that these technologies will hold for the future.

A few years down the line, when the world will be a witness to the next tech revolution, we Darwinians can look back and be proud of our contribution to it.



3 Technologies, Darwin Labs believes will play a vital role in the next tech revolution was originally published in Darwin Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.