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The reformed Bitcoin Maxi who saw the light: Erik Voorhees

March 3, 2021 by Blockchain Consultants

“We felt like we were doing God’s work,” explains cryptocurrency payments pioneer Erik Voorhees as he recalls trying to convert the unbelievers in the early days of Bitcoin.

The man whose gambling platform SatoshiDice was once responsible for half of all Bitcoin transactions, is now an elder statesman of crypto and the CEO of the ShapeShift exchange.

He remembers Bitcoin being written off as a joke at the Money 2020 conference in Las Vegas back in 2012. At the time he was working for BitInstant, one of the first Bitcoin exchanges, and they had a booth right next door to PayPal.

“I remember the PayPal people nearby kind of snickering at us. A couple of them had maybe heard of Bitcoin. If they’d even heard about it, it was a total joke — a stupid scam on the internet, or something. It was a totally unproductive conference.”

History has not been kind to the snickerers and scam-sayers, many of whom have since been converted. In 2020, eight years after the conference, Paypal finally joined the fray, enabling users to buy and sell crypto, and it will soon add it as a method of payment at 29 million merchants.

Voorhees spread the gospel of Satoshi at the conference alongside Charlie Shrem and Roger Ver. Shrem was the founder of BitInstant, viewed by some as a martyr to the cause after serving two years in prison on a case related to an exchange user reselling Bitcoin on the darknet marketplace Silk Road. Ver was perhaps the biggest believer of all, earning the nickname ‘Bitcoin Jesus’ for his charismatic promotion of the currency.

“In terms of proselytizing, Roger was the absolute best. He was a total maniac about it” Voorhees recounts with a chuckle.

“Even for Charlie and I, who were very much supportive of the general sentiment, It was pretty overwhelming and just incessant.”

“Everyone that works at a startup feels a little bit like they’re changing the world, that they have this huge mission, and certainly every company tries to amplify that,” he says, being a CEO himself. But for Bitcoiners, Voorhees clarifies, “it is really a ‘change the world’ kind of thing, and to change the world on a fundamental level. It’s to change the institution of money itself — that is a profoundly tall order.”

Vorhees explains that he sees Bitcoin as nothing less than revolutionary:

“It’s not just a better user-interface for the money that people had before. It’s a different type of money that changes government, changes culture, changes social and economic relationships on a very very deep deep level. That’s why it’s taken so long to to catch on, to get recognized, because it is trying to move into such an entrenched institution.”

It’s 2012. @ErikVoorhees @rogerkver and I decided to pool our money together for the first #Money2020 event. We told them we wanted the best booth we could afford, but we needed to be next to the @PayPal booth so we can show the world OUR financial system!

Welcome, Paypal! pic.twitter.com/5BzvQDfvFb

— Charlie Shrem (@CharlieShrem) October 21, 2020

Libertarian roots

Now 35, Voorhees spent his early ‘90’s childhood in the mountains of Colorado before moving to the University of Puget Sound near Seattle in 2003. He studied international economics and business but doesn’t really feel like he learnt either.

“In the entire major of economics, though I had courses in the history of economic thought, I never learned about the Austrians,” he says, referring to the Austrian School of economics. Often ignored by mainstream Keynesian economists, Austrians are obsessed with things like hard money and decry unbacked fiat currencies so they have been embraced by gold-bugs and the Bitcoin community, which is after all, often called ‘digital gold’.

A freshly minted graduate in 2008, Voorhees left to pursue adventure in Dubai where “anyone with a college degree could immediately get a job, because they were growing so fast.”

Working as a marketer for a real estate agency, he watched from a distance as the world he thought he knew began to buckle under the weight of the unfolding Global Financial Crisis. Dubai did not feel its effects until half a year later, he recounts, describing the intervening time as “this very weird period where Dubai was going through this massive economic boom, and the rest of the Western world was falling apart.”

From this desert oasis spared from the global drought, the business and economics graduate “started really understanding money on what I felt was a very fundamental level.” For Voorhees, the story of money is a simple one: “money emerges as the good that is bartered for most frequently.” That used to be gold and is currently fiat money, but it could just as well be something else, if a more useful and efficient money was embraced.

Upon this realization, Voorhees took on a “very strong aversion to fiat currency and to government control of money” because as a believer in a market economy, he felt that no government should control the price or distribution of any goods. “Money was actually the most important good of all, and thus most important to not be centrally planned. And yet it was even in, you know, allegedly capitalist economies,” he says.

“A capitalist economy that has a government-managed money system seemed completely antithetical, but I didn’t have any answers or solutions to that other than some kind of return to the gold standard, which seemed somewhat anachronistic.”

Voorhees returned to Colorado after two years abroad, soon moving to New Hampshire to join The Free State Project, an organized political migration which he describes as “a multi-decade initiative to move 20,000 radical libertarians to one small jurisdiction [New Hampshire] to hopefully have an outsized influence on the political structure.” It was there, in the company of fellow radical libertarian political activists, that Voorhees encountered Bitcoin in 2011.

“At that point I got completely hooked, and a year later ended up leaving New Hampshire and moving to New York to join Charlie Shrem at BitInstant.” There, he took the reins of marketing as employee number three.

It was around that time that Charlie Shrem, Roger Ver, and Erik Voorhees — each of whom would go on to become crypto-luminaries in their own right — pooled their money together to set up a Bitcoin booth at the Money 2020 conference in Las Vegas. “We needed to be next to the PayPal booth so we can show the world OUR financial system,” Shrem recounted. Vorhees says they failed to convert anyone to Bitcoin at the conference despite their best efforts.

Belief in false profits

Vorhees admits he used to be a Bitcoin Maximalist, a believer in the one true coin who rejected all false currencies. “I used to be a maximalist. Obviously when I got into Bitcoin, it was kind of the only coin,” he says.

“As other coins came out I dismissed them, scoffed at them, and generally didn’t like them because I felt like they were a distraction from the important project.”

Though he tried to focus on Satoshi’s vision, the new projects started gnawing at him and he realized that many of them “were doing things that Bitcoin wouldn’t do or couldn’t do.” By mid 2014, his conversion was in full swing.

“My whole mindset began changing. One of the most important things about Bitcoin is that it is decentralised. And it seemed to me antithetical to have a decentralized digital economy where there is only one chain — you know, one code base, one chain, one set of economic rules. It seemed very appropriate that you would get multiple different digital assets, and that was actually part of the decentralization, part of the virtue of Bitcoin was that Bitcoin isn’t the only thing there.”

He tempers this by adding the usual provisos — most tokens are garbage, many are scams, a majority will fail. “It’s only a minority of them that are interesting, but a minority is a lot more than one.”

ETH Folks… try not to become to Binancechain what the Bitcoin Maxis are to Ethereum 🙏

— Erik Voorhees (@ErikVoorhees) February 19, 2021

He still has empathy for his “shortsighted” maximalist peers, who he sees as victims of human nature’s tendency toward tribalism, which expresses itself in lots of ways, “Certainly it expresses itself in religion. And it has expressed itself in crypto, and some portion of people- their mind twists itself into complete advocacy of one flag and complete derision of all others.”

“[It’s] a group psychological phenomena and I don’t know how that stops, but I do think it is really harmful for the growth of decentralized digital finance generally.”

Gambling with Satoshi’s dice

Only a year after learning about Bitcoin, Voorhees launched Bitcoin-based gambling site SatoshiDice in 2012, which took the young crypto community by storm.

“On Reddit, this guy posted that he had created this casino-like mechanism where there’d be this dice roll, and based on the dice roll, a user would either get their coins sent back or lose them. I tried it, and there was magic in it immediately […] So I started working with him.”

This was groundbreaking because “it allowed any person in the world to place a bet by sending a Bitcoin transaction” no matter where they were from or how their local laws governed online gambling.

What’s more, the player did not need to trust SatoshiDice, because “it was provably fair,” meaning that it worked like a transparent machine where all odds and inner workings were open for anyone to inspect. Governments around the world have various commissions to regulate and audit gambling operations, but SatoshiDice’s function potentially made such organizations obsolete, powerless, or both.

“SatoshiDice showed you what the odds were. It was transparent with the odds, and you could prove that the rules were fair.”

The simple, trusted, and permissionless nature of SatoshiDice brought huge success to the platform. Within months of launch, the game was responsible for as much as half of all Bitcoin transactions.

SatoshiDice had an unofficial IPO on the MPEx exchange, a sort of Bitcoin stock market where unregistered Bitcoin companies offered shares and paid dividends denominated in BTC. These were the forerunner of the ICO boom several years later, and attracted similar attention from authorities for breaking securities laws.

Though the casino was “making a tonne of money,” it was also overwhelming as Voorhees felt his job of “running the world’s biggest Bitcoin casino” was distracting him from his greater calling of preaching the good word of Satoshi. Despite ongoing growth, he reluctantly sold the business in 2013 for 126,315 BTC which was then worth $12 million. That would be a cool $6.25 billion today.

Fighting the system

Voorhees did not enjoy calm for long, as the US Securities and Exchange Commission (SEC) soon came after him for making a public offering of unregistered securities. Voorhees considered this unfair, seeing that his investors had made exponential returns. He ended up settling for $50,000.

“That was nine months of total misery, dealing with them. If I didn’t despise the government before, I certainly did it after that. It was such bullshit.”

A core value of his is that people should be free to transact with each other voluntarily, and that no government agency has the right to come in between them. In his worldview, “institutions and government exist purely to curtail people’s power over money,” whereas “crypto gives people total economic power to make transactions in any way they wish, and no one can stop it.” As Voorhees sees it, these two forces will inevitably clash.

Voorhees’ company Shapeshift allows users to trade cryptocurrencies without identity verification. Things were not always that way — in 2018 Voorhees says his company fell under the same rules as traditional banks and therefore had to implement Know Your Customer, or KYC, identity verification procedures, making anonymous transactions impossible. “That was absolutely miserable. Our customers hated it. I hated it.”

But by 2020, decentralized exchanges (DEX’s) which allow users to trade without depositing their funds with a third party were gaining ground and made it possible for Shapeshift to reorient its business and re-align with its libertarian values. All KYC was abandoned, and the platform became a gateway for users to trade on various DEX’s. “I had learned with Satoshi Dice that an economic relationship didn’t need anything other than a public key to send in a transaction, and anything else could be based around that,” he says.

Voorhees says that his opposition to KYC is not down to ideology but his desire to protect users against things like identity theft.

“Identity theft in the US alone is something like a $30B to $40 billion a year problem. It is more costly than all forms of property theft combined. It’s this massive thing, and crypto comes along and solves that problem.”
But how committed is he to this principle? Would he class it as theft if a government accessed user data to tax a client’s unreported financial transactions. “Yeah, exactly. Taxation is absolutely theft,” he responds with blunt matter-of-factness.

The WSJ investigates

ShapeShift’s ethos has proven controversial among adherents to the rules and regulations around traditional finance. An investigation by the Wall Street Journal alleged Shapeshift users had laundered $9 million via the platform. However a third-party analysis by blockchain intelligence firm CipherBlade suggested the investigation was flawed in assuming that funds were illicit even after passing through four different hands, causing the $9 million figure to be inflated by a factor of four. It is clear that Voorhees, who is normally calm and composed, was deeply affected by this.

“Here’s The Wall Street Journal coming after us, calling us the money launderer, when their own inflated number would put us as far better [at combating money laundering] than any of the major banks that they write about all the time.”

There’s a noticeable quaver in his voice. The battle is personal.

We spend the last minutes comparing attitudes toward money in different societies. In the Nordic countries for example, all taxes are a matter of public record. Voorhees finds this disturbing, adding that “a lot of people with money feel guilty about it” whereas creating wealth in an ethical way he believes is a good thing for society.

“I would like to see people who become very wealthy, first of all be proud of that, so long as they did it in an ethical way, and to use those resources in whatever way they think is best. I think that’s how that’s how economies grow and I think there’s nothing wrong with that.”

The reformed Bitcoin Maxi who saw the light: Erik Voorhees

Source

Filed Under: blockchain technology Tagged With: Banks, Better, Bitcoin, blockchain, btc, Business, Catch, ceo, Columns, Companies, Conference, crypto, Cryptocurrencies, cryptocurrency, Culture, Currencies, Currency, darknet, data, decentralization, decentralized, Digital, Dubai, economics, economy, ethereum, exchange, Exchanges, fiat, Fiat Money, finance, Financial crisis, founder, Go, gold, government, ICO, identity theft, Internet, IPO, Journeys, KYC, Las Vegas, Mainstream, Market, marketing, money, Money Laundering, New York, other, payments, PayPal, reddit, scam, scams, Seattle, SEC, Securities and Exchange Commission, Silk Road, stock market, tax, Taxes, the wall street journal, Tokens, twitter, us, Wall Street, Wealth, world

Some Common Myths About Blockchain

March 1, 2021 by Blockchain Consultants

Some-Common-Myths-About-Blockchain

This article talks about some of the most common myths and misconceptions related to Blockchain technology, which will help you in gaining an in-depth understanding of the technology.

Curious? So, let’s get started!

Table of Contents 

  • Overview 
  • Most Common Blockchain Myths You Should Know 
  • The Verdict 

Overview

If you want to gain an in-depth understanding of Blockchain, it is essential to ward off all the doubts regarding it. Despite being a matured technology and its promising adoption rates and favourable feedback, Blockchain is still relatively new, and there are many misconceptions surrounding this technology. It is important to note that a lot of ‘facts’ you hear are not actually facts, rather misinformed statements or conjectures.

In this article, we will debunk a few common misconceptions about Blockchain technology in order to help you gather a more thorough understanding of the technology.

Most Common Blockchain Myths You Should Know 

Here is a list of the most common myths and misconceptions related to Blockchain technology.

Blockchain and Cryptocurrencies are Same 

The majority of the crowd still believes that Blockchain and Cryptocurrencies mean the same thing, and therefore they use these terms interchangeably. One of the reasons for this myth is because of the fact that they both became famous around the same time. To distinguish both these terms, cryptocurrencies like Bitcoin are digital assets used as a medium of exchange. In fact, you can say that cryptocurrency is one of the applications of Blockchain. Here it is important to note that not all cryptocurrencies use Blockchain. IOTA is one such exceptional case.

Blockchain is basically a decentralized distributed ledger technology that stores records of transactions, maintained throughout different computers linked to each other through a P2P network. 

All Blockchain are Public Blockchains

The majority of people assume that all Blockchains are public. But as a matter of fact, public blockchains are not the only type of Blockchain. There are various kinds, such as private and federated. The different types of Blockchain have their own applications, and there are various other modifications and differences. For example, public ones are permissionless, non-restrictive, distributed ledger systems, which means anyone who is connected to the internet can join and become a part of it. In contrast, a private Blockchain is a permissioned and restrictive one that operates in a closed network. Such Blockchain is generally used within an organization where only particular members are participants of a network. Federated blockchain, on the other hand, is best suited for organizations where there is a need for both types of blockchains, i.e., public and private, and offers better customizability and control over resources.

Technology Only Targets Finance Industry

There is a strong misconception surrounding Blockchain, and that is it focuses only on the finance domain. This assumption would have been true a decade ago, but at present, technology is being progressively used across various industries such as supply chain, healthcare, logistics, manufacturing, digital marketing, cybersecurity, and many others. Additionally, government institutions are another crucial field that has been significantly impacted by Blockchain. Governments all across the globe are adopting and implementing technology to provide cybersecurity, process optimization, and integrate hyperconnected services without compromising trust and accountability.

Blockchain is a Database

Another misconception related to distributed ledger technology is that it is a database. Although Blockchain can be considered as a form of database, a database is undoubtedly not a blockchain for sure. Blockchain store records and transactions within blocks which are visible to everyone. Databases are centralized collections of data stored in the form of tables. Few compare Blockchain with cloud databases, but it is important to understand that cloud databases store digital files in formats such as word documents; Blockchain, on the other hand, store records with a Proof of Existence. 

Free and Highly Accessible 

There is no reason to believe that Blockchain is free. There is no point in having a technology that performs such massive mathematical functions and implements algorithms without any cost. Blockchain charges a fee, a cryptocurrency transaction fee, to users when performing transactions. Thus nothing comes without a cost. You have to pay the blockchain fee to ensure your cryptocurrency transfers arrive on time.

And when it comes to accessibility, Blockchain developers are still working on Blockchain’s scalability, which is one of the major concerns associated with the technology. 

The Verdict

From just being a buzzword to now being a major player, Blockchain has made a lot of efforts in a few years. At present various huge corporations such as Facebook, JP Morgan, among others, are showing their interest, which means technology is here to stay. As we have uncovered the most common myths that exist, you must have gained a clear understanding of Blockchain and its functionalities.

If you want to start your Blockchain Journey, we are here to assist you. Check out Blockchain Council now!

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

Some Common Myths About Blockchain

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Filed Under: blockchain, blockchain technology Tagged With: Adoption, article, Better, Bitcoin, blockchain, blockchain council, blockchain-technology, blockchains, cloud, Cryptocurrencies, cryptocurrency, cybersecurity, data, database, databases, decentralized, developers, Digital, exchange, facebook, finance, government, healthcare, Internet, JP Morgan, Ledger, Logistics, manufacturing, marketing, other, p2p, supply chain, Tables, Technology

3 Stages when creating a Decentralized Crypto App

February 26, 2021 by Blockchain Consultants

Codezeros

The popularity of cryptocurrency is popular worldwide, with the multiplicity of a varied one being invented every single day. In accordance with Google, there are approximately 6000 of them, and if you intend to set the blockchain up, you must be aware of the ownership soon being handed over to the users..

With blockchain blowing our minds up, it has found its direct application in decentralized applications. The applications are here to match the service information with users in the absence of any middlemen. This can, however, be implemented in any industry. With the projects on the soar, we are witnessing the rising demand for decentralized applications and the need for new blockchain developers.

Why do you need to create a decentralized application?

Decentralized applications render essential perks to an application. The apps had been invigorated, especially for the cryptocurrency wallets and exchanges; however, the scenario is slowly changing with the due course of time.

Now that you have decided to go for DApps Development, it is a must to be aware of the stages to create one. Here is detailed information on stages pertaining to creating a decentralized crypto app.

3 stages to develop a decentralized crypto app:

Stage 1:

Create a product appropriate for the market:

This is, in fact, the first and foremost rule for any startup founder. While creating the first version of a product, it is mandatory to focus on meeting the market requirements while pondering to collect the first users. This is when you require a robust development team applying the agile methodology and equipped with the necessary skills. This is also when you require a constructive and strategized marketing plan and, of course, transparency. Feel free to share your development and documentation plans with a professional Blockchain Dapps Development Company.

The cryptocurrencies are entirely dependent on decentralization along with token distribution between users. However, this is not true at this stage. This is when you need to control the procedures and quickly process decisions on your own. This needs to be followed by evaluating the market hypothesis and further needs feedback from prior users.

Stage 2:

Time to prosper:

The second stage is extremely pivotal to activate members. The founders need a community that is largely capable of sustaining a robust network, and hence needs to activate the users in ways more than one. Some of the ways include granting, encouraging individuals to take part in product development, and more. This marks the onset of shifting responsibility from the owners to the users.

This ends with making an agreement that decisions are performed by consensus and brings the system a step closer to decentralization. The network gets a lot secured for users that pave the way to attract new users. The second step involves the primary need to make a decision.

Steps to expand the network:

This is rather the most popular way to distribute tokens. A blockchain owner needs to evaluate the available tokens in your system. At this stage, considerations such as the number of tokens to be left on your side, the number of tokens to be distributed, the number of tokens to be rewarded, and more need to be assessed.

Stage 3

Decentralized crypto app:

As the third stage of the process, it is time to decentralize crypto apps.

This is when cryptocurrencies come to the realm and paves the way for an alternative approach. The approach is based on blockchain technology offers each user a unique opportunity to become a payment processor on the network. This leads to creating decentralization without attaining any failure point. As a result, it gets all the more efficient, resilient, and democratic, helping you to be a crypto app founder for Ethereum App Development and meet your goal..

With a developed network of users, you can acquire an easier way of distributing tokens in a well-distributed manner. The community then takes complete responsibility for the system. Only a decentralized solution guarantees a fully secured network, making it all the more beneficial and prospective for the users.

Conclusion:

By adhering to the steps mentioned above, you can slowly pave the way towards developing a decentralized crypto app. The apps are a potent choice for a varied case, and no wonder the solutions attract users with the reliability, speed, and loyalty they have in their bag. With the market as expansive as this, you need an app that promises more extensive innovation and convenience. Thus, it is recommended to get in touch with reliable decentralized DApp development services to curate an app as per your business needs and requirements. With the professionals by your side, you need not worry about creating a decentralized crypto app. Hence, explore the services around and make your best pick, entrusting the leading development services.

3 Stages when creating a Decentralized Crypto App

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Filed Under: blockchain, blockchain development, blockchain technology Tagged With: Apps, blockchain, blockchain-development, blockchain-technology, Business, crypto, Cryptocurrencies, cryptocurrency, decentralization, decentralized, Decentralized Exchange, developers, ethereum, Exchanges, founder, Go, google, information, Market, marketing, payment processor, Technology, Tokens

Stripe Sees Former BoE Governor Mark Carney Join Board Of Directors

February 22, 2021 by Blockchain Consultants

Stripe, a US-based payments company dedicated to the development of new commerce solutions for the Internet, has recently added a brand new member to its Board of Directors: Mark Carney. Carney joins up with Stripe after having served in the Bank of England (BoE) as one of its crypto pioneers.

Carney’s Still A Big Fish

The official introduction of Carney as a Board Member occurred on Sunday, standing alongside names like Diane Green, Christa Davies, Sir Micheal Moritz, Jonathan Chadwick, as well as the two co-founders of Stripe: John and Patrick Collison.

In the mandatory public statement, Stripe cited Carney’s extensive experience regarding global governance and financial systems, which will be especially useful with the payment firm’s rollout of new climate efforts.

The Mandatory Kind Words

In a public statement, Carney declared that commerce by its very nature has changed within these past ten years. He praised Stripe, as one always does in this situation, stating that the firm has been at the forefront of this change. He said the firm helped enable this digital economy, explaining that it provides both small and large businesses across the globe with both resilient and innovative global payment solutions.

In his mandatory kind words, he declared his eagerness to work alongside Stripe and support it throughout the coming years. He stated that the firm will develop and construct a global infrastructure that will allow the Internet at large to become an engine for inclusive and robust economic growth.

Crypto Hedge Funds Defraud Investors of $100 Million

Stripe itself was founded back in 2011, marketing itself as an all-encompassing payments processing platform dedicated to various forms of online business such as e-commerce. Stripe even dabbled in Bitcoin payments for a time, rolling out BTC payment options back in 2015. However, Stripe had also pulled out of Bitcoin in 2018 due to the platform’s issues with the network in terms of slow processing time and high transfer fees.

Stripe even had its finger in Diem, back when it was first announced and was still known as the Libra Project. Massive pressure from various global governments had completely crippled Libra, before the entire project built itself back up. Time will tell how Libra, or rather Diem, will fare in the future.

Stripe Still Positive About Crypto

It should be noted that John Collison, one of the co-founders of Stripe, has been giving positive sentiments regarding crypto for some time now. The man is hopeful for crypto’s future in general, even if Stripe was forced to pull out thanks to the ever-expanding problem of transaction fees within the top crypto networks out there.

Carney himself had already expressed positive sentiments toward none other than Central Bank Digital Currencies, or CBDCs. Indeed, he expressed a vision of the future back in 2019 at the Jackson Hole Symposium, one where the great US Dollar was replaced by some sort of CBDC as the global reserve currency.

It should be noted that it’s been almost a year since he stepped down from his position of Governor of the Bank of England. Carney was there to help tackle the BoE’s problems regarding Brexit and COVID-19’s initial impact on the global economy.

Stripe Sees Former BoE Governor Mark Carney Join Board Of Directors

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Filed Under: blockchain, cryptocurrency Tagged With: Bank, Bank of England, Bitcoin, board of directors, Brexit, btc, Business, CBDC, Central Bank, crypto, cryptocurrency, Currencies, Currency, Digital, digital currencies, e-commerce, Economic Growth, economy, Hedge Funds, Infrastructure, Internet, Libra, Market, marketing, other, payments, stripe, Trading, transaction fees, us

Kickstart Your Career in Blockchain Space: List of Best Specialization Courses in 2021

January 22, 2021 by Blockchain Consultants

Kickstart Your Career in Blockchain Space List of Best Blockchain Specialization Courses in 2021

2020 has been a year of Blockchain. The high package salaries of such professionals indicate that this technology is no more a new buzzword. Tech giants and enterprises have started adopting technology, and for that, they are hiring skilled professionals. The major reason why jobs in this domain are paid so highly is because this space is young, and people with any experience in the space are rarely few.

If you are looking for the most-demanding certifications in this space, you have landed on the right page. This article includes the details of the most popular, top-rated specialization courses ideal for beginners and professionals looking forward to pursuing a professional career in this domain.

Best Specialization Courses to Become a Blockchain Professional in 2021

With any further delay, let’s enlist the best specialization courses that will help you acquire a futuristic career in 2021.

This is another comprehensive online course and training program to become a Certified Professional in law domain. This particular training is primarily directed to guide an individual in creating solutions that can influence all the aspects of the law and deals with the assimilation of knowledge on how technology can be leveraged to speed up and streamline the process of tracing digital documents for evidence and automate the agreement process using smart contracts. You’ll be benefitted from:
complete fundamentals of DLT

  • its advantages in law
  • its use-cases such as Chain of Custody, Litigation, and Settlements, and much more.

As technology poses incredible benefits to HR professionals in talent management, verifying the accreditation of potential hires, safeguarding employee health records, and performance evaluation, this certification is in huge demand. Tech giants and organizations are looking for skilled HR professionals who understand this technology profoundly. 

This is another comprehensive and hands-on course to learn this technology in the HR domain. The course provides a complete overview of this technology, technology’s impact on human resources, and its varying use-cases. It educates learners to gain an accurate picture of the employees’ overall performance and business, in general, using this futuristic technology. The best thing about this specialization course is that it covers almost every vital concept needed to become a pro in this particular sector. 

This is a globally acknowledged certification that helps learners to gain an in-depth understanding of the Blockchain for KYC Procedure and implement skills to optimize KYC Procedure. After completing this course, you will be able to implement Blockchain’s understanding to speed up and simplify the process of digital identity verification, cross-border payments and to identify frauds in banking and other financial sectors. Acquiring this certification in your resume of the LinkedIn profile will help you showcase your skills and experience.

Informative and well-structured, the course is ideal for all those whose interest revolves around digital marketing. 

This is a unique training and certification specially designed to demonstrate how this technology can revolutionize digital marketing. This course covers all its fundamentals such as blocks, wallets, and addresses, public and private keys, Merkle Tree, and hashing, cryptography and algorithms, and much more. Moreover, it teaches how digital marketing will benefit from this technology and its various use-cases. The course will render expertise on eliminating digital marketing middlemen, eliminating online ad fraud, building trust, and transparency while giving customers full control of their information with the use of DLT.

This Digital Marketing Professional training will prove your USP and act as a catalyst to accelerate your career growth.

Through this outstanding course, you will be able to learn how DLT has the power to bring about a major breakthrough in the healthcare industry, especially in terms of Health Information Exchange, by improving data integrity, regulatory compliance, and privacy. The course details various problem statements such as Drug Counterfeiting, Clinical Trials, and Healthcare Records Management, focusing on technology fundamentals and its various use-cases in the healthcare domain. The course will help you learn about healthcare business needs, technology’s role in healthcare, and how to build DLT-based healthcare systems.

Although anyone can avail this certification, this is best suited for system administrators, architects, developers, network security architects, cybersecurity experts, and IT professionals.

This certification aims at imparting a complete understanding of Blockchain’s inherent security features and associated risk, in-depth knowledge of best security practices for DLT infrastructure, exploration of known cyber-attacks, ability to differentiate between various cyber-attacks and threats, and teaching how to transfer or mitigate security risk.

This program will solidify your basics and advance your knowledge in the featured topics and make you capable enough to handle relevant complex issues. This course enables you to implement your skills in any applications and build your own Blockchain enterprise with acquired knowledge. 

We all know that DLT has its implications in the supply chain domain for a long time. At present, the demand for DLT-based supply chain experts is surging. Such experts implement the understanding of Blockchain to increase revenues and decrease costs while improving overall quality.

This certification will offer you an in-depth understanding of the mechanism for blockchain technology functioning that will help you integrate this technology with supply chain management. By the end of the course, you will be able to create solutions that can impact all the facets of the Supply Chain.

This training is primarily directed to guide an individual in creating solutions that can influence all aspects of finance and deals with the assimilation of knowledge on how this technology can be leveraged to speed up and streamline the procedure of cross border payments and to reduce the cost undoubtedly.

Here are the key things you will learn in this program:

  • Overview of financial management and challenges in the financial system 
  • Understand the core concepts of technology and its ecosystem
  • Role of this technology in Financial System 
  • Vendor Perspective about Blockchain and its advantages in finance services
  • Use-cases including cross border payments, syndicate lending, digital identity verification, and trade finance 

Concluding Lines 

The Blockchain Specialization courses mentioned above are crafted by Industry Experts to make the scholars efficient in handling the different verticals of blockchain technologies. The best part about these courses is that they require no prior knowledge. After completing, learners will be proficient enough to engage with business executives and offer practical solutions for their specific needs. 

Blockchain Council gives you an opportunity to learn from top experts around the world, and courses are uniquely curated for professionals by premiers of multifarious industries. These are self-paced training ranging from 4 hours to 6 hours that require your attentiveness. It is as easy as it sounds.

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

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A Comprehensive Guide to Salesforce Blockchain

October 21, 2020 by Blockchain Consultants

Wondering what exactly Salesforce Blockchain is? What are its key components? What are its use-cases? This article will answer all your questions. 

Table of Contents

  • What is Salesforce Blockchain?
  • Key Components of Salesforce Blockchain and its Benefits
  • How Lamborghini Uses Salesforce Blockchain
  • Other Use-Cases to Consider  
  • Concluding Lines 

What is Salesforce Blockchain?

Before introducing Salesforce Blockchain, let’s define what Blockchain is. Blockchain is a peer-to-peer decentralized distributed ledger technology that uses cryptography to create a secure linkage between records while mitigating the involvement of third-party intermediaries.

Few describe this innovative technology as a means that offers an opportunity to secure and share data from applications with a network of partners. It is a low-code-based Blockchain platform that allows organizations to build smart contracts, decentralized apps, and networks to share verified data using distributed ledger technology. This technology is capable of managing the challenge of building a stable network and providing the right protocols for you to authenticate. This specific platform has been adopted by American institutions, leading global provider of advanced analytics IQVIA, Arizona State University, among others.

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Key Components of Salesforce Blockchain and its Benefits

The advantage of using Salesforce Blockchain is that businesses can use this platform to develop and operate blockchain networks, applications, and smart contracts using its strong low-code capabilities. 

 It consists of three components:

  • Blockchain Builder is a toolset for building blockchain-based apps known as decentralized apps
  • Blockchain Connect which integrates blockchain actions with Salesforce applications.
  • Blockchain Engage a component that allows clients to invite parties to Blockchain apps created within Salesforce.

Apart from these, the main building blocks of Salesforce Blockchain are:

Hyperledger Sawtooth: It is a Blockchain-based protocol on which Salesforce Blockchain is built. Sawtooth is an open-source Blockchain business platform that aims to distribute ledgers and make smart contracts safe and efficient for enterprise purposes.

Consensus Mechanism: Just like other Blockchain networks, Salesforce offers numerous consensus protocols, allowing networks to decide which process works best as per their requirements.

Smart Contract APIs: Smart contracts allow businesses to develop new business models that are based on confidence and automation. APIs allow Blockchain Developers to build and deploy a set of business rules all across the network.

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How Lamborghini Uses Salesforce Blockchain

Lamborghini, a luxurious sport car, is using Salesforce Blockchain to authenticate its heritage cars. In late 2019, it was announced that Lamborghini would use the salesforce Blockchain for tracing, certifying, and authenticating its cars faster and more securely than ever.

Initially, when Lamborghini was resold, it had to go through hundreds of certification inspections, and the entire process is tedious and time-consuming. This is because the company has to work with a massive network of resources, including dealerships, repair shops, photographers, etc., in order to record and verify the entire history of all the parts and services of each vehicle.

Using Salesforce Blockchain, Lamborghini is able to innovate and transform the vintage car market. Each car comes with an immutable record of service, including crucial details such as prior ownership and restoration, allowing the history of vehicles to be stored immutably and securely. Moreover, technology helps in bringing all distributed parties together in a single trusted network. This entire process is completely digitized, thus more efficient and reliable. In addition, this new system protects Lamborghini cars against future counterfeits.

Other Use-Cases to Consider  

  • Speed up Service Processes: for quicker and easier servicing of a homebuyer, real estate companies can bring mortgage lenders, property managers, and realtors together on a single trustable network, i.e., Blockchain.
  • Accelerate revenue through network engagement: Banks can minimize sales cycles and enhance customer experience by placing the whole KYC process on the blockchain network.
  • Transforming marketing experiences: A hospitality company can create a blockchain network of distinguishable loyalty rewards, allowing customers to use reward points.
  • Ensures trust in supply chain management: For efficient business practices and customer confidence, high-end clothing companies can ensure ethical sourcing of cotton.

Concluding Lines 

To conclude, we can say that Salesforce is making it possible for customers to connect with their partners using reliable and secure networks without the need for coding. This technology is uniquely designed to lower the barrier for creating trusted networks and enables companies to bring together authenticated distributed data and CRM processes.

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

 

A Comprehensive Guide to Salesforce Blockchain

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