Blockchain Industry Predominant in Business World: EU Officials

Said by Andrus Ansip, the European Commission’s Vice-President that the EU nation has decided to commit to the blockchain technology and now it will be moving out of the lab and is now going to be a mainstream.

There has been a speech which contains the central theme of the digitization by the vice president of the European Commission- the executive arm of the European Union has pinpointed in their speech that EU is ought to commit to EC’S vice-president for their technology of the blockchain. 

The official was offering the opening remarks of the European Union’s annual ‘Digital Day’ initiative held in Brussels this year when he stated:

“I would like to see EU countries make a similar commitment [as with AI] to blockchain technologies – now moving out of the lab and going mainstream. As with AI: we should make the most of this new opportunity to innovate.”

The officials present at EU have called the national government along with the private sectors of the country which have a huge contribution to the cause which was being addressed at the platform.

As per reports the EC now says it will invest €300 million in projects directly related to the use of blockchain technology. The Commission also revealed it is laying the groundwork required to establish a European Blockchain Partnership in order to promote “interoperable infrastructures”, presumably between EU nations, to enhance and foster trusted digital services.

Myths about the Bitcoins and how can they be Busted: Expert Takes

Expert Takes has voiced the opinion of their leaders from the inside and outside of the crypto industries who have expressed their views, also have shared their views on their experience and gave their professional advice. Expert Takes had covered everything from the Blockchain technology and ICO who are funding the taxation, regulation and cryptocurrency adoption in different sectors of the economy.

The Prices of Bitcoin when goes way too high

The fact cannot be ignored that the Bitcoins have always more than 60 percent from its high time, the price of      1 Bitcoin- around $ 7,000 at some time of writing, this discouraged a lot of people from entering the market. Since the mid of 2017, it is only Bitcoin which has been on the front pages of most of the newspapers still most of the people of the world are clueless as to how can they buy the Bitcoin even if not a whole but even a fraction of it. So let’s set the record straight: 1 Bitcoin can be divided into 100 million satoshis (the smallest Bitcoin unit). Just because one cannot afford a full gold bar - which are $600,000 a piece - does not mean one cannot buy a gold coin or invest as little as $126 through a Gold ETF to get exposure to gold. The same thing can be done with Bitcoin.

The Price of Bitcoin is very Unpredictable 

No arguments can be made on the statement that the price of the Bitcoins varies a lot in nature. So before investing in it, the investors have to think a lot as all they hope is to gain profit instead of gaining losses after such a huge investment. It is for the first time in the history of currencies that a currency is not under any central bank or country. Cryptocurrency is a stand-alone individual currency which doesn’t have an owner above its head.

Cryptocurrency is very volatile and they have a large speculation around the world. Also, its assets have a large spread in the world of finance. So if someone wants to invest in cryptocurrency they should know about it thoroughly and should only invest if they can afford to face some loss in the trade. The most valuable thing you can invest in it is time. If we have time then there are very fewer chances for someone to face loss in their investment.

Bitcoin is very harmful to the Finance Environment

It is said that if the origin of something is unknown to us it can never be good for the health and environment around us. The saying is a perfect for the Bitcoins as it is said to be mined by Satoshi Nakamoto, back in 2009 whose identity is unknown to the world except for the name.

The mining of this cryptocurrency took only 10 minutes to be mined through a simple laptop and has mined a block for itself as it does today. The puzzle through which you mine is pretty difficult for a person to crack as the algorithm used for it is quite different and difficult for people to understand. But after solving it we receive a reward within the span of 10minutes that is the average time required to gain the reward.

The reason why the miners have invested billions of dollars in Bitcoins because due to its demand the price of the currency keeps rising high and high and then people gain profits from it. For e.g.- At $7,000 per Bitcoin, the current annual cost of the Bitcoin network is $4.6 bln, and a sizable portion of it spent on electricity bills. But what the Bitcoin network provides for this cost is a Blockchain that is unhackable by any existing computer or technology on the planet.

The currency is misused by the drug dealers and money launders

When the transaction of one bitcoin is made public, which is not exactly ideal as if you are looking to engage in illegal activities. There has been a release of two reports stating that only 1 percent of all Bitcoin transactions are used for money laundering and 44 is being used for other illegal activities. These anonymously as many exchanges follow Know Your Customer (KYC) and Anti Money Laundering (AML) procedures when registering users. This is where criminals using cryptocurrencies will get caught as law enforcement agencies are monitoring these exchanges. So cash will probably remain the currency of choice for criminals for the time being.

Top Business School to Add Bitcoin Classes and Expand Cryptocurrency in the Offering of MBA Courses

It has been reportedly said that the top-ranked business schools are hoping to bitcoin bandwagon as they are wanting to expand their course by offering on cryptocurrencies and blockchain.

There have been offers made for more crypto-related MBA classes which are eventually growing more in demand by the students, as well as, by the corporate sector employers and recruiters, which are especially a part of the capital venture.

Spoken by a professor from one of the top MBA universities that- “Kevin Werbach, a professor at the Wharton School of the University of Pennsylvania, will teach a class in the fall of 2018 called “Blockchain, Cryptocurrency, and Distributed Ledger Technology.”

Reported in a report by CNBC that a beef up is going to take place in the top-notch MBA colleges about keeping in demand for their cryptocurrency course as a part of the MBA programme of the university. It is been said reportedly that after five years down the lane most probably very few business colleges will be having different classes from other schools. Most of them would not be reporting similar classes and courses after some time span. 

Stanford University of Pennsylvania and Georgetown are going to be adding more classes of cryptocurrency to their MBA programme classes in 2018 which will help them to keep the demand up amongst their students. A review from a student stated that- “ Itamar Orr, a second-year MBA student at Stanford, applauded the expanded course offerings, saying it will help students once they go out into the workforce.”

Orr also added by saying that there are many students present in the university who wanted to discuss the jobs related to the blockchain and the crypto market. Also, there had been a competitive air in the campus which gives you an advantage and an extra hammer in your toolbox for grabbing marks. Approximately a Venture-capital investment had taken place which in the starting had ballooned up to $911 million, in the previous year, which was a higher percentage from 2016, according to a report from Pitchbook.

Susan Athey, a professor at the Stanford Business School said that-

“The fluctuations in the prices have everyone mesmerized: Just how did this happen? Many people have gone boom or bust. A that’s, of course, exciting, attracts a lot of interest, and motivates people to understand what’s going on.”

Dr. Amit Lakhanpal Ventures into Crypto Assets; Joins Hands With Private office of His Highness Sheikh Ahmad Bin Obaid Al Maktoum

Dubai / New Delhi, 6 April 2018:  Dr. Amit Lakhanpal led Al Kasir Group has announced its foray into Crypto Assets, a move that marks the next level of evolution in the era of crypto currency. This would be the first instance where a company is offering physical possession of diamonds and other valuable merchandize equivalent to the amount being spent by the buyer on crypto asset portal.

 

This is also the first time that crypto assets will be available for purchase across the counter. The company aims to open 1000 stores across the world for this in all major markets including South-east Asia, Europe, UK and Gulf Countries (except Qatar).

 

Al Kasir Group is a joint venture between Dr. Amit Lakhanpal and private office of His Highness Sheikh Ahmad Bin Obaid Al Maktoum who belongs to the members of royal family of the ruler of Dubai.

 

Speaking about the launch, Dr. Amit Lakhanpal said,” Crypto Asset combines the convenience of Digital currency with the stability of Traditional assets. We are glad to partner this novel concept which will not only showcase our commitment to new age technologies but also allow people from across the world to procure and own precious gems and other items.”   

 

The company will launch three unique forms of crypto assets that will be backed by an equivalent value of diamonds- Al Mas Coin (AMD- redeemable against diamonds), Al Haqeek Coin (AHP- redeemable against precious gems) and Al Falah Coin (AFO- redeemable against perfumes, Oud, Attar and Bakhoor perfumes, Oud, Attar and Bakhoor).

 

Pioneering the launch of this new age asset Dr. Amit Lakhanpal, Founder of Al Kasir Group said,” As a company we are constantly looking at enhancing value for our customers in the area of crypto currency. With transparency and value for our end customers as key mantras, this new tie-up will allow customers to own the most valuable asset known to mankind – diamonds. It will also quell apprehensions about the “Return on Investment” as the buyer will be entitled to physical possession of assets against the money spent on the crypto currency. Besides, we are also opening stores for across the counter purchase of crypto assets, another first in the world. ”

 

Crypto asset essentially is a diamond backed unit which can be purchased on company’s online shopping portal which will be announced on 15th April, 2018. Any person who wishes to invest in crypto asset will have to spend a minimum of USD 250 against which he will be given Indian Gemological Institute (IGI) certified diamonds of the same value after the completion of ICAO (Initial Crypto Asset Offering).

 

Along with the diamonds the buyer will also get crypto coins.  These crypto coins can subsequently be used to physically procure a range of products like precious stones, perfumes, Oud, Attar and Bakhoor etc from the company’s online shopping portal. The buyer can redeem only 50% of the product purchase value in crypto currency and the remaining 50% will have to be made via currency payments.

 

This brave new move opens a plethora of opportunities for similar business to take advantage of the disruptive block-chain technology however the Money Trade Coin Group seems to be ahead in their game already.