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Top Benefits of Blockchain Certification in Your Career

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Top Benefits of Blockchain Certification in Your Career Are you confused if a Blockchain certification can take your career to the next level? This article enlists the top benefits of Blockchain certifications that will help you clear your doubts. Table of Contents Overview Benefits of Blockchain Certifications Concluding Lines: How to Become a Certified Professional? Overview At present, Blockchain is considered one of the most revolutionary technologies as it transforms the way we interact, transact, and share information. Many technocrats and Blockchain Experts also believe that it is going to be the most disruptive technology in the next decade. Blockchain’s concept of decentralization has brought finance, supply chain, healthcare, logistics, and many others closer to transparency, freedom from intermediaries, and heightened efficiency. Today, this technology is not only used by tech giants, enterprises, federal agencies, and even startups have started adopting Blockchain. In fact, they are looking for Certified Blockchain Experts and are considering certified professionals over the non-credential peers. Benefits of Blockchain Certifications In this section, let’s explore some of the major benefits of Blockchain Certifications. It is emerging as one of the favorite technologies of businesses of all sizes There is no denying the fact that today Blockchain is emerging as one of the favorite technologies of businesses of all types and sizes. Before COVID-19, many organizations were already interested in digital transformations. The pandemic situation accelerated the pace of digital capabilities across the globe, while others implemented digital capabilities for the first time as a matter of survival. Large, well-established companies and crypto-startups are choosing Blockchain as a secure and transparent network for their efficient business operations. This adoption rate indicates that the job market for Blockchain enthusiasts would continue to expand in the years to come. Such Certifications help aspirants gain an in-depth understanding of technology, including its technical and functional aspects, and strengthen professionals’ portfolios. Rising trend of job opportunities According to the exclusive report by MarketsandMarkets published in May 2020, the Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion in 2025. This suggests that the job market will see rapid growth internationally, and Blockchain developers and other related professionals will be in great demand. Some of the prominently demanded roles in this domain include Blockchain Experts, Architects, Ethereum Developers, Smart Contract Developers, and much more. These Certifications help individuals to prove their Blockchain skills & understanding, gain an in-depth understanding of technology & its implementation, implement their skills across any applications and build their own Blockchain enterprise with acquired knowledge. Certifications can help people make better investments and trading in cryptocurrency. According to the Cambridge Center for Alternative Finance, cryptocurrency users have tripled from 35 million people in 2018 to 101 million people in Q3 2020. A study conducted by researchers from the United Kingdom’s Financial Conduct Authority also revealed a 78% increase since 2019. Also, in October 2020, when Paypal announced that it would be introducing crypto transactions, it was reported that it was the best quarterly return in PayPal’s history. Interest in digital assets is booming. Thus a comprehensive understanding of Blockchain through certifications can help you make better investments and trading in cryptocurrency. Cryptocurrency certification will enhance individual confidence and provide them with the necessary skills for better hiring opportunities as well. Exceptionally high salaries of Certificate Holders The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. According to Glassdoor, the national average salary for a Blockchain Developer is $1,01,689 in the United States, and the national average salary of a developer is ₹5,07,137 in India. Glassdoor also reports that the average salary of a Developer is £50,137 in London, UK. But to earn high salaries, it is important to have the right skills in this space. Certifications help you with the right set of skills so that you can adapt perfectly to the rising trend of job opportunities in this space. Blockchain Council, a globally-recognized online platform known for imparting world-class training with its own market research, found that people with the right skills and certification, on average, make 30% more salary compared to equivalent job profiles. It is the technology of the future. Many technocrats and Blockchain Experts believe that it is a technology of the future. As large enterprises such as IBM, Microsoft, Apple, Google, and many more are incorporating decentralized technologies into their business models, it is clear that this technology is going to bring significant change and evolution. This represents another exceptional reason to pursue Blockchain certifications. Concluding Lines: How to Become a Certified Blockchain Professional? We have talked a lot about the benefits of Blockchain certifications. Such certification benefits are not limited to exploring jobs, but they also help build confidence and ensure a competitive advantage over other players in this space. If you are interested in learning and upgrading your skills, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. Backed by the extensive practical-based sessions, this online organization offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. So what are you waiting for? Get enrolled now! To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council

Are you confused if a Blockchain certification can take your career to the next level? This article enlists the top benefits of Blockchain certifications that will help you clear your doubts. 

Table of Contents 

  • Overview 
  • Benefits of Blockchain Certifications 
  • Concluding Lines: How to Become a Certified Professional?

Overview 

At present, Blockchain is considered one of the most revolutionary technologies as it transforms the way we interact, transact, and share information. Many technocrats and Blockchain Experts also believe that it is going to be the most disruptive technology in the next decade. Blockchain’s concept of decentralization has brought finance, supply chain, healthcare, logistics, and many others closer to transparency, freedom from intermediaries, and heightened efficiency.

Today, this technology is not only used by tech giants, enterprises, federal agencies, and even startups have started adopting Blockchain. In fact, they are looking for Certified Blockchain Experts and are considering certified professionals over the non-credential peers.

Benefits of Blockchain Certifications 

In this section, let’s explore some of the major benefits of Blockchain Certifications.

  • It is emerging as one of the favorite technologies of businesses of all sizes

There is no denying the fact that today Blockchain is emerging as one of the favorite technologies of businesses of all types and sizes. Before COVID-19, many organizations were already interested in digital transformations. The pandemic situation accelerated the pace of digital capabilities across the globe, while others implemented digital capabilities for the first time as a matter of survival. 

Large, well-established companies and crypto-startups are choosing Blockchain as a secure and transparent network for their efficient business operations. This adoption rate indicates that the job market for Blockchain enthusiasts would continue to expand in the years to come. 

Such Certifications help aspirants gain an in-depth understanding of technology, including its technical and functional aspects, and strengthen professionals’ portfolios. 

  • Rising trend of job opportunities

According to the exclusive report by MarketsandMarkets published in May 2020, the Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion in 2025. This suggests that the job market will see rapid growth internationally, and Blockchain developers and other related professionals will be in great demand. Some of the prominently demanded roles in this domain include Blockchain Experts, Architects, Ethereum Developers, Smart Contract Developers, and much more. These Certifications help individuals to prove their Blockchain skills & understanding, gain an in-depth understanding of technology & its implementation, implement their skills across any applications and build their own Blockchain enterprise with acquired knowledge.

  • Certifications can help people make better investments and trading in cryptocurrency

According to the Cambridge Center for Alternative Finance, cryptocurrency users have tripled from 35 million people in 2018 to 101 million people in Q3 2020. A study conducted by researchers from the United Kingdom’s Financial Conduct Authority also revealed a 78% increase since 2019. Also, in October 2020, when Paypal announced that it would be introducing crypto transactions, it was reported that it was the best quarterly return in PayPal’s history. Interest in digital assets is booming. 

Thus a comprehensive understanding of Blockchain through certifications can help you make better investments and trading in cryptocurrency. Cryptocurrency certification will enhance individual confidence and provide them with the necessary skills for better hiring opportunities as well.

  • Exceptionally high salaries of Certificate Holders

The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. 

According to Glassdoor, the national average salary for a Blockchain Developer is $1,01,689 in the United States, and the national average salary of a developer is ₹5,07,137 in India. Glassdoor also reports that the average salary of a Developer is £50,137 in London, UK.

But to earn high salaries, it is important to have the right skills in this space. Certifications help you with the right set of skills so that you can adapt perfectly to the rising trend of job opportunities in this space.

Blockchain Council, a globally-recognized online platform known for imparting world-class training with its own market research, found that people with the right skills and certification, on average, make 30% more salary compared to equivalent job profiles.

  • It is the technology of the future.

Many technocrats and Blockchain Experts believe that it is a technology of the future. As large enterprises such as IBM, Microsoft, Apple, Google, and many more are incorporating decentralized technologies into their business models, it is clear that this technology is going to bring significant change and evolution. This represents another exceptional reason to pursue Blockchain certifications.

Concluding Lines: How to Become a Certified Blockchain Professional?

We have talked a lot about the benefits of Blockchain certifications. Such certification benefits are not limited to exploring jobs, but they also help build confidence and ensure a competitive advantage over other players in this space.

If you are interested in learning and upgrading your skills, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. Backed by the extensive practical-based sessions, this online organization offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. 

So what are you waiting for? Get enrolled now!

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Top Benefits of Blockchain Certification in Your Career

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Best Blockchain Courses for Blockchain Development

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Best Blockchain Courses for Blockchain Development

Want to become a Blockchain Developer but don’t know how to get started? Well, we have got you covered. This article enlists the best Blockchain courses for Blockchain development and guides how to become one.

Table of Contents 

  • Why Learn Blockchain Development 
  • Top In-Demand Blockchain Certification Courses
  • Concluding Lines: How to Learn Blockchain Development

Why Learn Blockchain Development

Since its introduction in 2008, Blockchain has continued to gain a reputation and has become increasingly useful in a lot of sectors. Along with having its application in cryptocurrency, technology is also proving to be useful in almost all sectors such as governance, supply chain, healthcare, cybersecurity, logistics, and many others.

If you are wondering why you should learn this emerging technology, here is a list of compelling reasons.

The top-most reason for learning this technology is that there is a high demand for Blockchain Professionals.  If you think you have the right skill sets to work in this space, you might be able to swim in the sea of high packages jobs. 

The other reason is that it is a cutting-edge technology that has the potential to revamp almost all sectors, including finance, supply chain, retail, eCommerce, and others.

Multiple career options and high ranking salaries are other crucial reasons why you should learn development in this space. It has been found that the salaries of professionals and experts are comparatively high due to their extreme shortage.

Top In-Demand Certification Courses

  • Certified Blockchain Developer

A Certified Blockchain Developer(CBD) is a professional who understands this technology profoundly and can build Blockchain-based applications. CBD is exhaustive training, an exam-based program aiming to impart in-depth practical knowledge in this space. A developer specializes in creating and implementing technical solutions with Blockchain Technology.

The course helps in building your own Blockchain with acquired knowledge, helps you learn Solidity language & multiple technology-based developments, and grasp the in-depth understanding of this technology, smart contracts & how it works, and much more.

  • Certified Hyperledger Developer

The Certified Hyperledger Developer Training is excellently designed and carefully curated by experts to render a profound understanding of Hyperledger Fabric and Composer. This certification equips individuals with the essential knowledge and expertise to work as a Hyperledger Developer. The training covers the introduction to Hyperledger Fabric, concepts and fundamentals of the fabric architecture, how to design the framework of Hyperledger Composer, and its application lifecycle management, and much more. The course helps you build your Private-Permissioned Blockchain businesses with acquired knowledge.

  • Certified Corda Developer

A Certified Corda Developer is one who possesses immense skill and knowledge in helping enterprises build interoperable Blockchain networks, thereby providing the luxury of carrying out business transactions over a private and secure network. 

The course covers the fundamentals and requirements of Corda, how to craft a Corda network, and you will learn all about the tools, plugins, and languages that are a prerequisite for crafting a Corda node and network. Moreover, you will get in-depth knowledge of structuring, creating, building, debugging, and signing of a CorDapp.

  • Certified Quorum Developer

Certified Quorum Developer certification is designed to render knowledge on Quorum from very basics to advanced level. The certification covers topics such as Quorum ecosystem, Quorum Network, Quorum Transaction processing, and privacy, Quorum Contracts, Quorum consensus, Setting up a quorum environment, and more.

Quorum development is a highly sought after skill as Quorum addresses specific challenges to Blockchain technology adoption within the financial industry. The certification course helps you prove your skills as a Quorum Developer and enhance your knowledge of Quorum, thus helping individuals in beginning a rewarding career as a Quorum Developer.

  • Certified Solidity Developer

    A Solidity Developer is one who uses the object-oriented Solidity language to build and deploy smart contracts on ethereum based applications. It is an exclusive exam-based certification, developed with the aim to offer a comprehensive knowledge of smart contract development through solidity.

A Solidity Developer is one who uses the object-oriented Solidity language to build and deploy smart contracts on ethereum based applications. 

Certified Solidity Developer Certification is an exclusive exam-based certification, developed with the aim to offer a comprehensive knowledge of smart contract development through solidity. Earning this certification will entitle you to become a smart contract developer, which is an extremely in-demand skill in the international job market.

  • Certified Smart Contract Developer 

A Certified Smart Contract Developer is a skilled professional who understands and knows deeply what Smart Contracts is and how to create them wisely over any Blockchain platform by programming it over Solidity. This certification offers exhaustive training & an exam-based program that aims to provide proof-of-knowledge of the certificate holder in the development phases of Smart Contract creation. This certification will work as a bridge between resources & businesses (employees, consultants & advisors) to give enterprises confidence in the quick hire.

Concluding Lines: How to Learn Blockchain Development

Learning in this space has been made easy. All thanks to tutorials and online platforms. There are various ways to learn this technology like you can enroll in Blockchain Council and become a Certified Blockchain Developer.  

Backed by the extensive practical-based sessions, Blockchain Council offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in this space. This online platform  offers the most in-demand certification, specifically in the crypto and Blockchain field. Attending webinars and joining Blockchain communities can also prove to be helpful.

If you want to get started with Blockchain, get started today!

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Best Blockchain Courses for Blockchain Development

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Waste Initiatives For a Clean Future with Blockchain

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Waste Initiatives For a Clean Future with Blockchain

Can a peer-to-peer, decentralized technology tackle waste management? In this article, let’s talk about it. 

Table of Contents

  • Overview of Blockchain Technology 
  • Blockchain in Waste Management
  • Concluding Lines: Is Blockchain the Answer?

Overview of Blockchain Technology 

Unlike most digital technologies, Blockchain can be considered as a network of virtual ledgers that are able to store and distribute data securely without involving any third-party intermediaries. This technology can be thought of as a data structure that stores information as a series of connected blocks, which are distributed simultaneously to all participants. Its applications for social good are becoming increasingly critical, and Blockchain experts believe that this disruptive technology will revolutionize the world with its impact. Technology is now starting to make a difference to the world’s global challenges such as poverty, hunger, education, access to safe water, waste management, and much more.

Want to gain an in-depth understanding of Blockchain technology and become a Certified Blockchain Expert? Get started with Blockchain Council today!

Blockchain in Waste Management

 In 2019, it was estimated that plastic waste was around 6.3 billion metric tonnes with a value of US$7.2 trillion. BBC news statistics reported that 90.5% of plastic ever made has never been recycled, and according to the estimations, by 2050, we will have approximately 12 billion mt of plastic waste. This high ratio is because of the fact that presently, there is no digital technology that can hold organizations, enterprises, and people accountable for the waste they’ve created and recycled.

Accountability in Waste Management 

Blockchain can prove to be a disruptive technology for maintaining accountability in waste management by placing producers, customers, and waste management workers into a network together. 

Technology, with its decentralized and tamper-proof nature, could create a view of the waste supply chain that is accessible and visible to all the participants in the network, creating a level of responsibility across every member of the recycling lifecycle. Thus, accountability at every step will accelerate the process of innovation. 

Waste Initiatives For a Clean Future

Plastic Bank

Various waste initiatives such as Plastic Bank and others have seen the potential of Blockchain technology in order to reduce plastic waste in developing countries. It is a company that uses distributed ledger technology, Blockchain to allow locals to trade collected plastic for personal expenses and other goods and services. 

AREP

Apart from this, Blockchain is also implemented by AREP, a multidisciplinary consultancy owned by SNCF to track waste at railway stations. By utilizing Blockchain, it collects all the detailed information about all waste bins with the help of bluetooth. There is a block for each station bin, which uses bluetooth to update on quantities of each kind of waste, who collected it, and how it moves around.

Agora Tech Lab

Agora Tech Lab, based in Rotterdam, Netherlands, aims to help cities create participatory waste management frameworks by using blockchain technology. The company’s tamper-proof Blockchain helps it register waste management-related transactions, and based on these transactions, citizens who are part of the ecosystem get rewarded for their contribution that can be redeemed for public services to improve both recycling rates and community ties.

Such applications are advantageous to offer a solid incentive to recycle wastes through a reliable, easily accessible means of income for people living in developing countries. 

Not only this, but Blockchain also provides the way to create a “material passport” for each material containing valuable information such as its origin, packaging highlights, material composition, the balance of raw vs. recycled plastics, detailing the number of times the product has been recycled. 

This advanced technology will also help government institutions to track the waste generated by different businesses, thereby helping to trade waste quotas.

Concluding Lines: Is Blockchain the Answer?

If we talk about the biggest challenges associated with the current waste management solutions, it is that they don’t consider the entire lifecycle of products, i.e., right from production to becoming waste. Thus it is crucial to impose rules in place for companies who are responsible for the waste they generate, and strict penalties must be imposed that fail to meet the desired demands. 

Blockchain undoubtedly may help in dealing with waste management. With its application of validation and tracking, we could see a system with more accountability on the waste management industry as a whole.

 To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.

Waste Initiatives For a Clean Future with Blockchain

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A Beginner’s Guide to Decentralized Applications

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A Beginner's Guide to Decentralized Applications

Are you a Blockchain enthusiast? Wondering what dApps are? Want to build your own dApp and get started as a Blockchain Developer? Well, we have got you covered. Before you start making apps, let’s deeply understand what these applications are.  

Table of Contents 

  • What are dApps?
  • How dApps Differ From Traditional Apps?
  • dApps and their Characteristics 
  • Ethereum dApps That You Can Use Now
  • The Verdict 

What are dApps?

Decentralized Applications, also known as dApps, consists of back-end code that runs on a P2P decentralized network. dApps provide features similar to those provided by traditional consumer apps, but they utilize blockchain technology to give consumers greater power over their data by removing the need for centralized data management, thereby rendering the service “decentralized.”

In other words, they are open-source application software that use smart contracts to run transactions on a peer-to-peer network.

Sounds interesting? Get started today as a Blockchain Developer!

How dApps Differ From Traditional Apps?

Before you start developing your own application, let’s understand how these decentralized applications differ from traditional ones.  

Centralized Vs. Decentralized 

The basic key difference, unlike traditional apps (governed by centralized controlling authority), dApps run on a peer-to-peer blockchain network. 

Trustable 

These applications are trustable among users as users get complete control and ownership of their data and assets.

Cost of Development 

When it comes to the development cost, regular apps have to take into consideration various factors such as cloud server fees, maintenance fees, and others. But in dApps, Blockchain Developers need not worry about such factors as dApp cost includes development, deployment, and even upgrade.

Speed 

In terms of speed, regular apps outperform dApps as decentralized applications can process only around 15 transactions per second. 

Security 

Undoubtedly, Blockchain-based apps are more secured. This is because these apps are tamper-proof, and the records stored are unalterable. Also, they are immutable from hacking and other potential destructions. 

Usage Cost

There is no cost of using regular apps. But for using decentralized applications, users have to pay a small fee every time. Here it is crucial to note that usage cost depends on the complexity of the app. 

dApps and their Characteristics 

As we have understood what dApps are and how they differ from the traditional apps, let’s explore their key characteristics. 

  • Works on the underlying technology, Blockchain.
  • dApps are open-source, which means code is public, and hence anyone can copy and audit it.
  • They are decentralized, meaning they are not governed by any central authorities like Facebook, Airbnb, etc. Thus, no central authority can stop users from using the app or doing what they want. 
  • Such applications use Ethereum smart contracts, which automatically execute when the desired conditions are met. 
  • Most importantly, these apps are global, meaning anyone around the globe can publish or use these dapps.

Ethereum Apps That You Can Use Now

Before exploring the apps, it is crucial to note that the majority of the dApps are built on Ethereum Blockchain, and there are many reasons for that. The first being Ethereum Blockchain implements a development interface that reduces programming time and instantly launches projects. Ethereum also offers a developer-friendly experience with the inclusion of creation kits, application models, and MetaMask, which has proved effective in attracting new projects, vast groups, and large communities.

There are hundreds of dApps, each having different purposes. For instance, if you want to mint, buy, or trade non-fungible digital art, you can use Zora, Foundation, Cent, MakersPlace. If you want to pay musicians directly for their work, you can use Catalog, Audius, and other similar apps. For finance-related activities such as sending, receiving, borrowing, earning interest, streaming funds, you can use Compound Finance, Aave, Pool Together, Dharma, InstaDApp, and others. For exchanges and peer-to-peer options for buying, storing, and trading cryptocurrencies, one can use 1inch, AirSwap, ForkDelta, and others.

The Verdict 

The landscape of dApps is rapidly evolving, making Ethereum the platform of choice for Blockchain developers. Its potential indicates that we can expect to see exciting new functionalities and use-cases for blockchain technology shortly. Apart from Ethereum, Cardano, Lisk, QTUM, and NEO are also popular for DAPP development.

According to statistics, dApps’ market size was valued at USD 10.52 Billion in the year 2019, and now it is expected to reach USD 368.25 Billion by 2027 at a CAGR of 56.1%. If you want to develop your own dApp, all you have to do is enroll in Blockchain Council and become a Certified Blockchain Developer. 

To get instant updates about Blockchain Technology and to learn more about online blockchain certifications, check out Blockchain Council.

A Beginner’s Guide to Decentralized Applications

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Use Of Blockchain In Corporate Reporting

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Use of Blockchain in Corporate Reporting

Wondering how Blockchain can be useful in corporate reporting? Alright, you have landed at the right page. In this article, we will explain what are the challenges in corporate reporting and how Blockchain can fix them.

Table of Contents 

  • What is Blockchain?
  • Challenges in Corporate Reporting
  • How Can Blockchain Help?
  • Conclusion: Does Blockchain Faces Any Limitations? 

What is Blockchain?

A blockchain is a shared database, or you can say a distributed ledger that creates a permanent record of transactions. It is a P2P decentralized distributed ledger technology whose purpose is to establish trust among untrusted parties by mitigating third-party involvement. Provided it has been designed and implemented correctly, it offers complete transparency, immutability, security, and privacy, unlike traditional databases. There is a myth-buster surrounding Blockchain, and that is all blockchains are the same. While many of the well-known blockchain iterations are undertaken on public ledgers, businesses are leveraging Blockchain uses private, permissioned chains to provide greater confidentiality. Technology has become the latest disruptive force that financial and reporting executives are considering when building their long-term plans. 

Challenges in Corporate Reporting

Corporate reporting is a process to create trust and transparency in a company’s financial position through strict rules, regulations, and corporate communications ways. A fundamental component of reporting is an annual corporate report intended to give well-defined information to all involved people about a company’s actions and financial performance during the prior year.
Now, as we have understood the concept of corporate reporting, let’s figure out a few of its challenges.

  • Making corporate reporting engaging and flexible in a multi-stakeholder situation.
  • The expense and sophistication of transaction documentation and consolidation across multiple groups.
  • The challenge of finding a single source from which users can receive accurate, prompt reporting from companies across various jurisdictions and businesses.

How Can Blockchain Help?

As Blockchain is a P2P, distributed ledger, it allows every transaction to be spontaneously accessible to all the network participants. Having such a ledger ensures that records can never be destroyed/modified. 

The current corporate reporting system includes production, auditing, distribution, and consumption, and Blockchain can prove to be helpful in all these processes.

Production and Consolidation
The production phase includes recording and aggregating transactions and consolidating the desired information. The cost and difficulty of tracking and aggregating transactions from different entities from jurisdictions and consolidating the details are included in the processing of financial information. But Blockchain can provide a viable solution by providing a single structured location that enhances accessibility. 

Moreover, there can be issues with the difficulty of integrating financial details from multiple entities. This is because the process by which accounts are consolidated can be difficult, expensive, and time-consuming. For consolidation processes, blockchains could offer efficiency and reliability by acting as a central state ledger.

Auditing
Financial statements prepared by the companies need to be audited, and users have to trust the accuracy of that information as with the traditional process, the concept of trust is central. Due to its decentralized nature, Blockchain can prove to be helpful in confirming the accuracy of all transactions and balances by offering complete transparency. Technology also ensures that all the transactions stored on the network cannot be tampered and thus builds trust automatically into the company’s accounting process.

Moreover, Blockchain can help with the validation and verification of transactions, tracking ownership of assets, providing traceable audit trails, and enabling automated audit processes.

Distribution
Companies are required to distribute information to their regulators, the markets in which they operate, and they have regulatory filing requirements for various parties across different jurisdictions. Blockchain’s use in distribution could improve accessibility and immediate filing of multiple requirements of reporting at national and international levels.

Consumption
Companies want to access distributed information freely and smoothly. Blockchain technology intends to reduce the cost of reporting and act as a corporate communication platform that enables analysts, investors, and others to consume the information efficiently and effectively.

Conclusion: Does Blockchain Faces Any Limitations? 

Corporate reporting is basically an entity-based concept. But challenges remain in terms of costly yet inefficient reporting, error, and manipulation issues. Traditionally, where there has been a demand for aggregate systems, this can be done by requiring specific reporting by aggregating participants’ reporting information to generate a single report, which is possible with the help of Blockchain.

But a single-entity blockchain, however, may suffer from various challenges. Foremost, there is no advantage unless the technology is chosen widely, and for its widespread adoption, there is a need for standardization, and sadly, at present, there is no standardized blockchain. Various chains are set up and function differently, which is not effective for investors. Compatibility is needed for investors, so they will not want to find out how different blockchains operate. 

For achieving Blockchain’s standardization to support interoperability and data exchange among participating parties, more collaboration is needed. Apart from this, scalability and the need for regulations are other issues that Blockchain has to deal with. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Use Of Blockchain In Corporate Reporting

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A Quick Guide to Fungible Vs. Non-Fungible Tokens

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A Quick Guide to Fungible Vs. Non-Fungible Token

This article will help you in distinguishing what are Fungible and Non-Fungible Tokens (aka NFTs, aka nifty), illustrating their pros and cons. 

Table of Contents 

  • What are Tokens? Why do we Need Them?
  • What are Fungible and Non-Fungible Tokens
  • Fungible Vs. Non-Fungible Tokens 
  • Few Use Cases of Non-Fungible Tokens 
  • Concluding Lines 

What are Tokens? Why do we Need Them?

In the world of cryptocurrency, tokens are the king. A token is a thing that serves as a tangible representation of a fact, quality, and can be anything of value. Tokens are not limited and restricted to one specific role; rather, they can fulfill several roles in their native ecosystem. Tokens can serve various purposes; for example, it can act as a gateway to the decentralized applications(DApps). Moreover, they can also qualify the holders to have certain voting rights. Fungible tokens are entirely exchangeable with each other, and one example of fungible assets are fiat currencies. Non Fungible tokens have burst into the mainstream due to the sudden popularity of crypto kitties, a virtual cat collectible game. 

What are Fungible and Non-Fungible Tokens

As we have already seen what are tokens, let’s delve deep to explore both the types of tokens.

  • Fungible Tokens 

Due to decentralization, security, immutability, Blockchain is considered to be the perfect technology for managing all types of digital assets. But with such interchangeable tokens, this would not be possible. Such tokens work fine for cryptocurrencies, and in fact, fungibility is the fundamental feature of any currency.

Such tokens are built in such a way that each fraction of a token is equivalent to the next. For instance, Bitcoin, the most popular cryptocurrency, is fungible, which means one Bitcoin is equal to one Bitcoin, and it’s equal to all other Bitcoins. Such tokens are assumed to be interchangeable and divisible too. 

In simpler words, these are types of cryptographic tokens that are basically identical or uniform and can be interchanged with other fungible tokens of the same type without any issues. Such tokens relate to the things we use every day, and it applies to real-world well as digital assets.

  •  Non-Fungible Tokens

Non-fungible tokens are special tokens that represent unique, collectible items. They are unique in the sense that they cannot be split or exactly changed for other non-fungible tokens of the same type. You can consider NFTs as tokens with no fungibility that offer a variety of unique opportunities for using blockchain technology.  Crypto Kitties is the most popular example of non-fungible, collectible tokens.

Every CryptoKitty is unique, and no two CryptoKitties are the same; these are impracticable to break a CryptoKitty into smaller pieces, trade them, and reassemble them to create an equally valuable CryptoKitty, unlike fungible assets like Bitcoin.

Fungible Vs. Non-Fungible Tokens 

Now, as we have understood what the two types of tokens are, let’s understand the fundamental differences between the two. 

Fungible are Interchangeable
As we already mentioned, such tokens are interchangeable and can be exchanged with any other token of the equivalent kind. For example, fiat currencies are fungible. For example, $50 notes are interchangeable with other $50 notes. Similarly, one Bitcoin value can be exchanged with other Bitcoin, which makes no difference for holders.

Non-Fungible are Non-Interchangeable
Unlike Fungible tokens, such tokens are non-interchangeable as they cannot be replaced with the non-fungible token of the same type.

Fungible Tokens are Divisible
These tokens can be divisible into smaller units, and one can get any number of units, and it does not matter to holders as long as the value remains the same.

Non-Fungible Tokens are Non-Divisible
These tokens cannot be divided in any sense.  

Fungible Tokens are Uniform
Each token is different from all other tokens of the same type. 

Non-Fungible Ones are Unique
All tokens of each type are identical in specification, and each token is identical to each other. 

Few Use Cases of Non-Fungible Tokens 

Crypto kitties were the first use case of non-fungible tokens. But the invention of such tokens has taken the world of Blockchain by storm. Non-fungible tokens have numerous use cases across various domains. Just like crypto kitties, such tokens can be used to create entirely new types of collectibles. Not only this, these tokens have their application areas in KYC procedures, voting & elections, loyalty programs, art, real-world assets, virtual assets, copyright, supply chain tracking, medical data, and more.

Concluding Lines 

As the world is becoming more and more digital, NFTs can present a viable solution for tokenizing ownership and property. These tokens allow proper digitization and storage of real-world assets while keeping them safe at the same time. Thus, NFTs are going to gain more popularity very soon.

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A Quick Guide to Fungible Vs. Non-Fungible Tokens

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