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Tag: Bitcoin

Cryptocurrency Careers that Will See High Demand in the Future

Posted on by Imarticus Learning

 

Over the last year or two, cryptocurrency has spread like wildfire through the interwebs, evolving from a once unknown form of payment to one that’s preferred and advocated for by thousands across the globe.

Bitcoin and other forms of cryptocurrency are more than just a buzz today, they’re facilitators of job creation in a newly burgeoning payments industry. Blockchain fanatics, rejoice, the job market is opening up– Indeed reported that job postings with keywords including ‘bitcoin’ and ‘cryptocurrency’ have shot up by a whopping 621% since 2015. A cryptocurrency career is one of the most sought out types today, with Indeed seeing a 1,065% growth in searches for these jobs.

Cryptocurrency-related jobs range from miners and data scientists to developers and blockchain experts. But these are the careers and jobs that are likely to see very high demand in the future:

Blockchain Engineer

Since blockchain is the system that enables the existence of cryptocurrency, blockchain engineers will be in high demand in those sectors and industries looking to hire for cryptocurrency systems. Blockchain engineers have the power to build new applications, even new currency modes for use in the crypto-world. They can either choose to focus on developing the technology itself or concentrate on the elements that interact with the system on varied scales, including currency or protocols.

ICO Developer

ICO means Initial Coin Offerings and is a fund-raising technique that enables startups to sell their crypto-tokens in exchange for other cryptocurrency or fiat currencies. It’s considered a boon for many startups looking to immediately raise capital but not wanting to deal with the taxes and charges that come of raising and transferring funds in regular currency. An ICO developer helps to form the new currency and form a platform for distribution and trading.

Security Architect

Cryptocurrency systems, in general, are much harder to hack into when compared to traditional financial transaction systems. That said, cyberattacks are increasingly growing sophisticated, which means no system is 100% safe. A security architect is usually tasked with protecting the company and its blockchain or other technology from external threats and exploitation of vulnerabilities. They also help to prevent and offset financial transactions and fraud. Knowledge of information technology and web development is crucial to land such a job, as is attention to detail and solution-building skills.

Technical Writer

Cryptocurrency is not for the techies alone, contrary to popular belief. Companies looking to create newer types of cryptocurrency are often looking for technical writers to write creative content that will attract investors and customers. These types of content could range from blog articles to whitepapers and pitch decks. Technical writers may also need to liaise with marketing and branding departments over the digital and offline promotions in the pipeline.

Conclusion

Despite a rocky first few steps, blockchain and cryptocurrency are alive and well in today’s world and fast gaining exposure. A cryptocurrency course will enable fresh graduates and current employees to upskill and delve into the industry while it’s still in its nascent stages. A deep intellectual curiosity and the ability to deal with changing times are perks, too!

Why Bookkeeping Bots Are An Important Part Of The Fintech Business World?

Posted on by Imarticus Learning

Why Bookkeeping Bots Are An Important Part Of The Fintech Business World?

Bots can keep your records in various areas of your business and the bookkeeper can integrate the books of the various departments to help you get a complete overview to base your crucial budgeting decisions. No wonder then that the fintech startups focus on bots in record keeping and accounting.

Bookkeeping may be the most boring part of running a business. However, it is the very lifeblood of the startup or business and financial record keeping should never be neglected. Not just from the point of view of compliance or regulations but because it is advantageous in many ways that we are shortly going to look into.

Accurate records of financial transactions are the very same data culled for your forecasts and analysis, budgeting and management. When this is error-free it saves you a lot of time, effort and money in the long run. And in modern times, Fintech courses and data analysis techniques have evolved to a point where bookkeeping can be your best aid in a financial crisis or upheaval. Bookkeeping is progressive, helpful and is a must-do for growth.

Bookkeeping for business analysis:

Let us see how your bookkeeping affects your sense of analysis and business growth. our daily bookkeeping is the essential data that is being generated 24/7for analysis. It is an effective tool in the hands of decision-makers and guides management decisions.

No matter if you are a startup or small business, remember that your financial statements and records are the basis of assessing your financial health and are the first record verified when seeking funds for growth. That can only happen when financial discipline allows you to check at any moment your outflows and inflows of cash, where the returns on your investment have not been productive, or when you need additional funds to spur growth.

The fintech industry has come up with very many Fintech courses and applications to integrate the accounting system into all parts of the business and modern times require even a Botkeeper to man these bots that automatically take care of your bookkeeping, accounting, expenses, loan repayments, schedules of payments and a lot more.

Hence employing bots is not just to technologically innovate your accounting procedures but to give you an integrated real-time view of all areas of your business. Without doubts, the bots who are here to stay can spur you to success and leapfrog your enterprise to the next level.

Bookkeeping and budgeting:

Budgeting in firms and enterprises is not just about reviewing the past and setting aside finances for the future. The integrated process of budgeting with bots allows the analysis of they’re working the data into forecasts, ROI, comparative studies of investment patterns, and even provide clues as to potential risks and areas for improvement.

Effective managements rely on taking timely decisions and ensuring that timely funding is available. This means monitoring your expenses, being able to foresee the risks involved, creating a roadmap for projects and leveraging bookkeeping for growth. Fintech courses also teach you about vital developments like blockchains. The immutable single ledger system maintained by bots gives you the upper hand when budgeting or reviewing managemental decisions.

Bookkeeping and tax preparation:

Keeping track of your taxes, compliance and ensuring adherence to all regulations is another repetitive task that can become very complex and have disastrous implications when neglected. Since bots excel at doing such repetitive tasks, many a fintech startup focuses on applications meant to ease the pain in the area of tax preparation, reporting, and compliance. They are also exploring areas like RegTech which again is dependent on the tasks of effective bookkeeping.

Tax preparation when done manually requires careful scrutiny because of the errors that may creep in when financial records are unavailable, or when the view is too myopic.

Fintech courses are essential for those who keep the books and records because they not only allow you to paint and record the right picture but because they interact technologically with the other parts of your business and affect parameters like productivity, management decisions, growth, and efficiency. Well, that’s why bots take over repetitive daily tasks in business and are so essential for all businesses.

Parting notes:

It is clear that bookkeeping is a must for efficient tax preparation, budgeting, and business analysis. This is what the Imarticus Learning Academy excels in teaching its aspirants making a career in the financial markets. Fintech courses can get you career-ready and set for a unique assured placement. Join the Imarticus course today if you want to gain skills in these crucial areas. 

The New Concern with Bitcoin

Posted on by Imarticus Learning

Bitcoin has seen massive growth over the past few years or so, mostly due to the ease with which it makes transactions possible. There is no middleman, and it helps eliminate the need for an extra payment for taxes while running a number of transactions.
The blockchain is the fundamental software that bitcoin works on and it is known to be stable and reliable. However, a lot of investors are starting to feel that the “perfection” surrounding bitcoin may not be as flowery. It’s always better to inform and equip yourself with the knowledge surrounding a new investment to be on the safer side.
Here are a few concerns that bitcoin can bring up:

Wallet Vulnerability:

Bitcoin wallets have a real vulnerability towards hack attacks as well as theft. A team of researchers from Edinburgh discovered weak spots in these online wallets that could be exploited. The encrypted wallets are still susceptible to external attacks, and it’s important to be wary of the same.
Scientists were able to intercept any communication between the wallet and PC, thus syphoning off information and even diverting money to different accounts.

Cyber-Attacks and Hacking:

Bitcoin is always at risk of being attacked by cybercriminals. There have been attacks prior, and the value has slumped. The fear of losing a heavy investment online and not knowing about it is also a major fear in the mind of many investors.
Hackers have been trying to get into Bitcoin exchange systems for years now, and in 2014, they ended up being successful after syphoning off close to 850,000 bitcoins. The value of the same today would be a gargantuan $7.2 billion.

Single Client Mining:

There are certain mining pools which have become strong enough that they can command their own mining ratios, which are significant. This stems from the continued use of the proof-of-work consensus mechanism.
A pool can also use computational power to mine blocks of bitcoins and then hide it from many honest miners. This is called block withholding, and it prevents a new block from being broadcasted throughout the network.
The pool also attempts to find more blocks and the others are left in the lurch. Greedy miners find a new block before other miners and then broadcasting the two blocks they have makes the forked chain extremely long. These miners will always be a step ahead of the others, taking the lion’s share of the rewards.

Spending Double:

While there have been reinforcements to help control double spending. There is still a fear that concerns the risk to bitcoin. It has become stronger against any co-ordinated double spends online.
There are still people who can constitute attacks to help them benefit from twice utilising the same coin in a transaction.
Take, for example, Tom sending Bob x bitcoins for a transaction. Tom also executes a similar transaction at the same time to a certain address that he controls with the same bitcoins, x. While Bob believes Tom has sent the money and doesn’t confirm the same, Tom’s address has been credited, and the transaction doesn’t go towards Bob’s name.
Conclusion:
Then the feature of irreversibility causes the transaction to become invalidated and pointless. Since bitcoin is also unregulated, there ends up being no recourse.
Thus, bitcoin has always been a major source of debate among many financial technology advisors. While the technology behind it is revolutionary, its own identity is still murky without a clear route on its future. If you’re looking to invest in bitcoin, it is highly suggested that you speak to an expert and get all your doubts cleared before moving forth and making any investment.
Get to know more about bitcoin through : https://imarticus.org/Professional-Certificate-Course-FinTech/

Blockchain vs Bitcoin

Posted on by Imarticus Learning

Just like the 2000 internet bubble, the innovation that is going to change markets globally is the Blockchain network! There is a lot of hype about these critical buzzwords, and it is only valid to say that ten years down the lane, a lack of knowledge in Blockchain is going to be very tough to survive. As the market moves so should the people involved in it irrespective of their positions as buyers or sellers.
It can be noticed that in many instances, Blockchain and Bitcoins are used invariably but according to what they stand for, it is an injustice to give them both the same name. However, it is true that they are closely related. A Blockchain is a digital technology that records all the transactions that happen in a peer to peer network. Bitcoin, on the other hand, is a form of popular cryptocurrency that facilitates the said transactions. The blockchain is the path that the bitcoin which is more like cash takes to travel between its users. The terms are often mixed up as the blockchain was initially discovered to support bitcoins. Only recently has there been talks of using the blockchain network for other uses but up to this date bitcoin predominantly rules over the blockchain network.
Also Read : Scope of Blockchain Technology in India
Money can take different forms, and it has only been proved in and out over the years. Cryptocurrency is one such and blockchain seems to be a better option mainly due to the safety aspects. It is not entirely natural to add a block in the already existing blockchain, and even if it should be combined, it requires the consensus of the involved parties. This decentralised approach helps prevent monopoly control over such a powerful mechanism and gives each and everyone involved the responsibility to take care of what belongs to them. The amount of scrutiny helps to maintain the network fraud-free and comes to support large transactions which done any other way would be time-consuming and more exhausting.
blockchain vs bitcoingTo summarise the benefits of blockchain and their add-on currencies, it can say that, this technology helps to increase transparency thus helping to target the places, if and where the problem occurs. The permanency of these ledgers also helps in keeping and verifying said data which proves to be valuable. Overall it helps to ease the pockets of business, and it is noted that the blockchain network can be utilised by small businesses to attain full utilisation of their resources. However, like any new technology, blockchain is also viewed with the sceptical eye for complications regarding the sophisticated technology and its regulatory implications. There is also a threat from competing platforms.
The paradox in Bitcoin-Blockchain relationship is the fact that it is open, public, free to scrutiny but remains to be anonymous. It is indeed true that the advent of blockchain was mostly to avoid government currency control policies and to get rid of any unnecessary intermediaries. This privacy it provides has also been one of the main welcoming factors for the income of the Blockchain era.
In the majority, blockchain and bitcoins are used in the financial sector and only recently are their talks to test its permutations and combinations in other areas. But seeing the technology of blockchain starting from a tiny bud and move up like a beanstalk in so less time is quite alarming. Anything that moves at such a rapid pace is bound to bring some radical changes, and it is us, the people, the consumers, the buyers, the knowledgeable citizen’s responsibility to keep up with the pace and always be aware of the consequences that follow.
Related Article:

What is Bitcoin and Is It a Good Investment?

Posted on by Imarticus Learning

Ask any Bollywood enthusiast Indian what the meaning of being wealthy was, and they would have said, “Having an account in one of those infamous Swiss banks”. But this was a case about more than a few years ago.

But if you ask any Indian today, who has been keeping up with the current market scenario and has even the most remote knowledge about economics, they would say, “Being wealthy means being able to own your very own Bitcoins.”  But before we go into the whole what and how about it, it is important to be aware that our country, has is yet to accept this cryptocurrency as a legal tender.

Also Read: Future of Blockchain Technology

The term bitcoin was coined in the year 2008, by a person who went by the pseudonym of Satoshi Nakamoto. Bitcoin is basically a virtual currency or a decentralized cryptocurrency, which started off just as an unimportant form of virtual currency, but soon gathered momentum and was transformed into a more mainstream form of currency in the successive years.

What sets this cryptocurrency apart and what caught the attention of the whole world was something called as the blockchain technology.

This blockchain technology refers to a digital ledger, but it is quite unlike any sort of digital ledger that has existed. Here the record of the various transactions which are carried out in bitcoin is maintained in such a way, that there is a great amount of transparency and accountability between the parties involved.

The information of the transactions is then distributed among a certain number of computers, all of which are participants of the transaction and no one else but them. Thus this rules out any requirement of a third party, which generally would have acted as the intermediary.

The blockchain technology can very well go on to disrupt the way banks have been essaying the role of an intermediary for centuries now. This is because it will totally do away with the need for any kind of intermediary.

A number of financial technology or Fintech start-ups today have come up and begun using this blockchain technology and are trying to apply it to many more fields than just that of banking or bitcoins.

fintech certification
Now coming to the most important question. Is investing in Bitcoin a good investment? Well the fact that our country has still not legalized it as a mainstream currency, it seems prudent to apply certain amounts of caution.

At the same time, because this field is entirely new but, at the same time can actually give results, like in the case of one lucky Norwegian man who overnight became richer by 5,54,30,625.00 Indian Rupees, because of his long-ago investment in Bitcoins. There is quite a craze of investing in and trading in bitcoins as well as bitcoin mining, in order to multiply one’s monetary assets.

Bitcoin trading is not quite synonymous with the general trading of stocks that takes place, neither is bitcoin mining the same as data mining.

With the rising risk of frauds and instances of bitcoins being a bad investment, it is up to the discretion of the investor as to how much risk he/she is willing to take and how much he/she is willing to lose if not all in order to play this game of digital stash.

Related Article : Importance of Blockchain in Big Data