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Tag: Blockchain

How Fintech Moved Successfully from Normal to Pandemic New Normal?

Posted on by Imarticus Learning

Fintech was expected to earn great profits in the year 2020. Unexpectedly, due to global pandemic, a paradigm shift could be seen in the functioning of fintech all over the globe.

Although it hasn’t been an easy task for many companies to survive in these testing times, the brighter side shows that for some industries, this scenario has proven to be a bit beneficial.

Unlike other sectors or industries where daily operations used to take place manually, fintech is web-based and does not require any physical interaction. This has been the sole reason that has worked in the favour of fintech in such challenging times.

The successful shift of fintech during the new normal

There are specifically some sectors where fintech operations have accelerated. Some of the positives are discussed below:

  • Continual functioning of Banking Sector

Out of all the industries, banking has been the only one that functioned without any disruption. However tough the times were, banks functioned and transactions took place.

Banking and FinanceIt has widely been seen that people have very positively accepted fintech as their new normal. Unlike the usual times where people used to visit banks for even their balance inquiries, people nowadays have gained trust in the applications and portals under fintech.

Some companies worked without involving cash transactions and only accepted digital money. Usage of portals like PayPal gained popularity during the pandemic.

  • Ease in Regulations

This time has proven somewhat beneficial for fintech as there are many organizations which have adopted the policy of cashless transactions. Considering this, the government and the authorities may lower the regulations that are imposed on the fintech companies for their collaboration with these aspiring organizations.

By working hand in hand, directly or indirectly there is going to be a surge in the usage of fintech tools.

  • Retaining Cash

Considering the current scenario, people have nurtured the habit of keeping cash reserves with them. In such a situation, they tend to make use of fintech companies whether they are in favour of it or not.

banking and FinanceTo illustrate, earlier many amazon orders were booked with cash on delivery but people want to have their limited cash reserves with them and hence are paying online.

  • Dip in the number of lenders

Owing to coronavirus widespread, many money lending companies have restricted the lending capacity considering the current scenario of non-payment by the existing borrowers. They claim to restart lending activities with the uplifting of the coronavirus restrictions. In such a situation, fintech corporations are still operating widely in the market and people can borrow some money using fintech.

Not only the money, but fintech has also collaborated with various big and small companies for providing emergency and necessity items to the people. People, on the other hand, have accepted the involvement of fintech corporations in their day to day operations and they are satisfied by that to a great extent too.

Conclusion 

With a great demand for fintech in the present world, a stable and rewarding fintech career can be planned by gaining professional knowledge and fintech training through renowned institutions like Imarticus. One must always grab the opportunity as it comes your way.

Is Working from Home Fintech’s ‘New Normal’?

Posted on by Imarticus Learning

Many organizations had not even imagined about running a business with their employees working remotely from the convenience of their homes. Work from home was considered as a privilege to selected profiles at unavoidable circumstances.

Yet, it was looked down as a less productive arrangement as the employers presumed many household distractions that could hamper the productivity of the employee. However, there is a tectonic shift in these concepts after the COVID-19 hit the world.

Many weeks into the remote working arrangement, companies have started to realize that they can maintain productivity with their employees working from home. The perception that employees would relax at home while working from home rather than concentrating on their work has completely changed. This could bring a major shift in the structure and design of fintech courses in the future.

Benefits of Working Remotely

The most noticeable benefit is that the remote working arrangement is that companies can access talents from different geographical regions. Companies have started thinking that they don’t want to restrict their talent pool to any specific geographical area. This could be highly motivating to those who are planning to enrol in a fintech course.

Many companies have felt that their employees are working dedicatedly even while working remotely. The fact that even many weeks into the lockdown, there isn’t any drop in productivity. This has led to many companies now willing to test this model going forward, even after the lockdown. This arrangement has shown to improve the morale and motivation of the employees.

Tools Required for Remote Working

Companies have started using digital tools to create a virtual work environment. The teams are staying connected with tools like Zoom and Slack for video meetings and communications respectively. Many companies have enabled SSL VPN to ensure a secure network. Other popular tools are Hangout, Microsoft Teams, Trello and Google Docs.

Challenges of Remote Working

The data protection is the biggest challenges faced by organizations. They are not encouraging employees to store data locally. Small fintech might find it still feasible to provide work from home facilities to their employees; big organizations with hundreds of employees or more are still working out their ways to cope with this new arrangement. They are looking at cloud-based solutions to ensure a seamless transition of office model to work from home arrangement. If remote working becomes a new normal, this could be an area of focus for fintech courses.

Dealing with cyber fraud and malicious acts remain a serious concern for many fintech and banks. This has led to many fintech companies considering investing in reliable cybersecurity tools.

Many companies have introduced working with calendar system to ensure transparency and to know how their employees are spending their days and what are they working on at a given point in time. This will also help companies to monitor how long an employee takes to finish an assigned task. This has helped increase productivity. Daily, weekly, and monthly updates are also helpful to monitor the team output.

In some ways, remote working is benefiting the fintech. Many banks have now come forward to join hands with fintech companies to partner with them at different stages of the customer journey. They are actively looking to shift their non-branch-based functions to remote workplaces.

Along with employees, fintech companies must take care of the needs and convenience of their customers as well. Many fintech companies have created lighter versions of their tech services so that their customers can use them on lower bandwidth.

Conclusion

Fintech companies can implement seamless working from home arrangements with effective communication and with collaboration tools. Many companies have already found a workaround to facilitate remote working for a longer period. Many have said that they would consider moving a higher percentage of their workforce to remote working post-lockdown. However, it is too early to comment if work from home will be the new norm. However, many companies are planning to keep this as a possibility, even though it greatly depends upon the government rules.

What is Blockchain Course?

Posted on by Imarticus Learning

Blockchain is a growing chain of cryptographically linked blocks or records that are resistant to modification. It records every transaction and thus, it is an open, transparent ledger of transactions between two parties. The sequential list of all the transactions is permanent, with each block linked to the previous block with a hash, timestamp, and details of the transaction.

This feature makes blockchain highly resistant to manipulation and attack. This explains why cryptocurrencies like bitcoin use blockchain to record transactions.

How Is Cryptography, Blockchain And Hyperledger Technologies Related?

Simply explained, cryptography is securing a private message to ensure its confidentiality. Only the intended person can read a cryptographically secured data. As a third party won’t be able to find the keys to decode the message, no one other than the intended people would be able to understand the encrypted message. It involves encrypting and decrypting content using various methods and encryption keys.

How to Become a Blockchain Developer?

The primary responsibility of a blockchain develops optimizes blockchain protocols, and to develop build smart contracts. To become a blockchain developer, you need to enrol in a blockchain course.

This is because you need to be adept at certain technical skills to become a blockchain developer. One needs to master certain concepts like cryptographic hash and distributed ledger etc. self-learning could be tedious, so it is always better to take up some blockchain courses to give a boost to the learning process. co

To master the blockchain development process, you should have a good grasp of data structures. Many blockchain developers explore tweaking data structures and combine them with cryptography to develop fool-proof and secure systems. Most popular data structures are Petrecia and Merkle trees. Data structure and blockchain are two inseparable concepts, and learning blockchain, beyond any doubt, is incomplete without having learned data structure.

You might have already understood the importance of cryptography in blockchain development. Cryptographic methods are used to develop digital signatures.

It is also used to develop crypto contracts or smart contracts, which is a computer contract that involves and controls cryptocurrency transactions under certain controls. Smart contracts became popular post Ethereum release. Most of the businesses

Smart Contract Development

Smart contracts caught attention post Ethereum release. Businesses across the world are now keen to integrate smart contracts into their systems to benefit from the application of business logic. Hence, developers striving to get into the blockchain field should learn about smart contract development. For this, you need to get a good grasp on languages such as Chaincode, Viper, and Solidity.

Web-Development
Another important skill to master as a blockchain developer, web-development involves the development of front and as well as back end functions including building interactive graphic interfaces. Blockchain developer should also be able to handle API and requests.

Let’s now have a closer look at the types of blockchain developers.
To understand what responsibilities do a blockchain developer handle, you need to know the various functions associated with it. Contrary to what you believe, the career possibilities of a blockchain developer are not only about building blockchains. There are multiple job layers.

Backend Developers
Common job roles of a backend developer are:

• Designing and developing Application Programming Interface (API) to integrate blockchains.

• Designing software and handling everything from testing to deployment and render technical support.

Blockchain Project Managers
Project managers are responsible for blockchain-specific, yet wider job roles. They need to handle a wide spectrum of responsibilities ranging from:

• Developing decentralized applications and maintaining them.
• Blockchain project supervision
• Advising on ICO structure
• Understanding the requirements and designing apps that could cater to their business requirements.
• Training of team members if required.

Smart-Contract Engineers
To become a smart-contract engineer, you need to know languages such as Solidity, Go and Python.

• Developing smart contracts and regular auditing to find loopholes
• Ensure security
• Conduct business process testing

Blockchain course helps you learn the basics of blockchain and cryptography. Training helps you decide which aspect of the technology you wish to focus on. There are a variety of courses emphasizing on various aspects of blockchain development.

To decide on which blockchain course to enrol, you need to decide on your career goal, what would you like to specialize in. Having clarity on your job expectations help you zero down on the best course.

Blockchain Project Ideas for Beginner or Student in 2020!

Posted on by Imarticus Learning

What is the Blockchain Technology?

Blockchain is a technology that supports online transactions/information sharing. It can be referred to as a diary or a spreadsheet that contains the record of transactions. Each block directs to its previous block.

It is a decentralized technology with no central controlling unit. Everyone can access the information but cannot manipulate it due to extreme security in blockchain.

Every user shares equal authority and can only read the information. Each transaction generates a hash code that uplifts the network security.

 

Blockchain is widely used in digital transactions and cryptocurrency transfers in present times. It is also used for other things which include record maintenance.

Let us see some blockchain project ideas for beginner/student in 2020 in this article.

Identification of copied brands

Every successful brand has an imposter available in the market. These fake suppliers use the name of the brand and sell their goods/commodities. This leads to confusion and distrust among consumers.

Every original manufacturer has a barcode imprinted on its product label. This barcode is unique and can be scanned by anyone to check the originality of the product.
This information can be connected to blockchain technology.

One can develop an application for smartphones that could do the aforementioned work. Previous works are done in this field but still, a lot of fake brands are available in the market. There is a lot of scopes to increase accuracy in this field. It can be a brilliant project idea.

Web hosting

You can host through the web using blockchain where the authority is decentralized. If you are building a centralized server then the maintenance cost will go high and it can encounter traffic issues from time to time. One can distribute the services all over the web and can link it back as and when required using the blockchain registry. This will reduce the traffic and maintenance cost.

Supply Chain Management (SCM)

SCM contains all the processes of a raw material being converted to finished goods. It handles the supply side of any product/service and monitors the flow/storage of goods/services. with the usage of blockchain, we can easily detect the chronology of ownership of the product from being a raw material until the end consumer.

The transparent and traceable nature of blockchain will help in such tasks. The licensing of products/services can be done easily using blockchain. The cost will be cut down and security will increase. This project can bring a revolution in SCM.

Insurance Sector

Sometimes a lot of time is taken to process the documents before allowing the insurance. This can be done through blockchain and the documents and reports can be accessed quickly by the insurers which will ultimately decrease the time of insured money which is reaching its destination. The traceability of blockchain will help in this process. People can understand the cost risks easily and it will also help insurers in cutting down the cost.

E-voting

A lot of E-voting campaigns have been carried out already. People still don’t trust E-voting as security concerns are there. With the use of blockchain technology, we can increase security. We can also make the information transparent to the required authorities who can keep an eye on malicious activities.

It can be a far-fetched thought but if applied properly can give us a fair & secure voting system. It can cut down the cost of various polling booths that are physically made and monitored during an election.

Conclusion

Blockchain ensures the highest number of reaches through its traceable and transparent nature. The security is also managed by the hash functions generated after each block. The level of peer to peer sharing is quite high in the blockchain.

There are many blockchain online courses available on the internet to help you out. This article was all about some blockchain projects/ideas for students/beginners in 2020 which can bring a revolution in respected fields. I hope it helps!

How Does Blockchain Technology Works?

Posted on by Imarticus Learning

What is Blockchain?

The latest phase of industrialisation is filled with ingenious inventions. Blockchain is considered a ground-breaking technology that has the power to change the world. The Blockchain technology can transform the way we do things on a very fundamental level; it is considered even a bigger breakthrough than the internet which is something.

However, the Blockchain technology is still in its nascent stages and there’s so much that we are yet to discover. So, what exactly does Blockchain mean? Blockchain can be formally defined as the distributed ledger technology that is decentralised and record digital transactions which cannot be altered after input.

The use of cryptography along with decentralisation creates more transparency and instils accountability in the system. Most of us know Blockchain from one of its major applications that is crypt-currencies. It became popular as the revolutionary record-keeping technology behind the Bitcoin. Let’s find out how does the Blockchain technology works.

How Does it work?

How does the Blockchain technology work? Well, that’s a common question from people who are not very familiar with the technicality of this technology. At the core of the Blockchain technology resides the idea of decentralisation and transparency that brings more accountability in the process.

For a basic analogy, you can think of this technology as equivalent to a spreadsheet that is shared with a few people. Now changes made by any individual can be view by all the people and they would easily recognise the person behind this new development. This brings more transparency and accountability in recording a particular transaction.

Blockchain is very different from the spreadsheet and much more advance but it works along with the same principles. The three important terminologies related to Blockchain that you must be aware of are blocks, nodes and mining. Every chain is formed by multiple blocks and each block has three respective elements; the data, nonce, hash.

New blocks are added to the chain through a process called mining. Miners create new blocks on the chain through the process of mining which helps with the new addition. Now mining is not as simple as it sounds and requires Blockchain experts. There are plenty of Blockchain online courses that you can choose from and develop your skillset.

Each block has a unique hash and nonce value and the blocks also have the hash reference from the previous blocks. This is done to maintain the block’s uniqueness and connect it with a valid block so that the information can be traced properly. Let’s talk about the third component that we call nodes.

Nodes are all about the decentralisation aspect of this revolutionary Blockchain technology. It is very important to understand that any single computer or organisation or entity cannot own the chain, it will defeat the purpose of transparency and decentralisation. Nodes can be understood as any form of electronic device that has copies of the Blockchain and helps the network to function.

The network must approve algorithmically the mining of a new block for updating and v verifying the chain. This instils transparency since every new update can be traced and verified. A unique identification number is provided to participants that help to trace their transactions. This identification number is a combination of alphabets and numbers.

Blockchain has the power to dramatically reduce the chances of corruption by ensuring transparency and accountability. This is very useful in the case of any public information as it helps to track the source of change and creates a sense of integrity through its checks and balances. Blockchain has numerous other applications in addition to crypto-currency in the field of healthcare, insurance, supply chain, etc.

AI in the FinTech Industry: What Will 2020 to 2025 Look Like?

Posted on by Imarticus Learning

The financial industry has, for long, been keen followers of technological advancements for their own benefit. Many big names in the industry have been early adopters of disruptive technologies in a bid to streamline processes, reduce manual labor and negate the chances of error.

Artificial intelligence is a paradigm-shifting field that the financial industry has forayed into very recently, sitting still at the tip of the iceberg. Here is a breakdown of the trends, growth and scope of Artificial intelligence Training in the FinTech industry during the years to come.

AI in FinTech: Global Market Share, Size and Investment Analysis

In 2019, the AI in the FinTech market was estimated at USD7.2 billion. By 2025, this figure is expected to reach a staggering USD35.40 billion, according to a Mordor Intelligence report. The Compound Annual Growth Rate (CAGR) has been put at 31.5% for the years between 2020 and 2025.

This double-digit surge is no doubt a result of exponential technological advancements and deeper penetration of the internet. Software tools are expected to receive the largest market share because the need of the hour, and the foundation of all further processes, is the extraction of data.

When it comes to deployment, cloud-based AI developments are expected to rake in the highest CAGR in the following years when compared to on-premise deployments. This goes hand in hand with the shift in data storage and management from on-site servers to remote, centrally-controlled cloud silos to facilitate better access and higher security.

Regionally, AI in FinTech is gaining traction across many geographical splits. The current largest market is North America; however, Asia Pacific is expected to see the fastest growth in the coming years. This comes off the back of massive research and development investments in developed economies in the United States and Canada. Europe, South America, Africa and the Middle East will also see a surge in AI adoption and advancements, though perhaps not at the scale of Asia Pacific as yet.

AI in FinTech: Trends and Growth

Fraud prevention: AI is expected to be deployed the most to ensure fraud detection and prevention. Naturally, this segment will drive most of the IT expenditure in companies of varying sizes. This trend appears in a bid to keep up with the changing face of fraud in the FinTech industry as well as the greater proliferation of digital channels and the need to secure them all.

Transactional bots: As financial entities solidify their online presence, transactional bots and digital assistants will increase to keep up with remote demands. Apart from managing customer relationships, these assistants will also be equipped to deal with term life renewals, cheque or balance notifications, withdrawal limit warnings and more.

Risk profiling: AI will become a massive driving force in evaluating client credit risk and creating profiles. Using historical client data and outliers, logical algorithms can segregate risks by range, allowing advisors and risk managers to make more accurate mitigation decisions.

AI in FinTech: Challenges

Cultural changes: With changing landscapes and evolving customer demands, cultural shifts within the company are inevitable. Employees at all levels must be reoriented so that the introduction of AI becomes helpful rather than disruptive.

Security: Increased exposure to digital forums, ironically, also means being laid bare to cyber-threats. While adopting artificial intelligence in any form, financial entities must strengthen security systems at the same time.

The final word

In light of the changes to come, it is imperative that new-age students enroll in a FinTech online course that encourages deeper thinking. With every shift in the level of computational power, FinTech industry leaders will be seen integrating beyond-human technologies into nearly every critical stage of their operations. The leaders of tomorrow, then, will benefit from a FinTech online course that preps them to make and implement these changes with minimum disruption and maximum confidence.

How Blockchain Can Be Used to Change Space Industry

Posted on by Imarticus Learning

Blockchain technology is a decentralised technology, which is stable and flamboyant. There are millions of systems around the globe through which the information passes; still, it will be unmodified. One can see the information in blockchain technology but cannot alter it. A lot of digital payments are done through blockchain technology. Besides giving full transparency and stability, blockchain technology supports peer to peer sourcing.

It has high-security measures which are a combination of hash functions and other security protocols. In the context of the space industry, there is a lot of data generated. For continuous and unambiguous data, blockchain can be a boon. Let us dive deeper and understand the pros of blockchain in the space industry and exploration.

Emerging technologies like blockchain and decentralised data are making a lot sound in recent years, but the technology is still new to people hence its very hard to imagine any application of it in our life. There are many commonalities that tie blockchain and space. Blockchain describes a very different way of data storage. That is decentralised too, having a common database but more secure as blockchain uses cryptographic algorithms.

How Blockchain technology can be used in the Space Industry?

The cryptocurrency application of Blockchain is popular in the finance industry and other sectors. Blockchain is already in use for several years in the space industry. Some prominent applications in this context are:

Supply Chain Management
Keeping track of supplies in space is very important in space. Blockchain is used in man-aging big space construction projects and managing the resources for space exploration.

Satellites as nodes for better and secure communication
The satellite network can be used as a node in the chain of information where you can store as well as perform transitions. This allows the space sector to give an important contribution toward better and secure communication.

Space asset tokenization
Asset tokenization in space is not an easy task; it requires enabling a crypto token-based
ownership of space assets including spacecraft, satellite and potentially astronomical bodies such as asteroids.

Blockstream was launched in 2017, which became first-ever state lite to use blockchain technology. SpaceChain first used blockchain in space in 2018 that formed the base for the constellation of satellites to support the blockchain-based operating system.

Some major predictions of blockchain in the space industry are very intriguing as their development is happening at an accelerating rate. The investment for the space industry has gone down in last years but the introduction to new technologies like blockchain and others is going to change the face of the space industry. It will help a great deal in cost-cutting and other developments.

Space Giants SpaceX and Amazon, which has large investment are sending a large fleet of satellites which could increase the risk if collisions.

Commercialising Space Exploration using Blockchain

Commercialising space exploration will be far more efficient using revolutionary blockchain technology. The feature of tokenization of a spacecraft allow institutions to prepare different component of the spacecraft. Big Institutions like NASA and ESA take this
opportunity to obtain things efficiently with more clarity and origin.

SpaceX and other companies are working on commercialisation of space exploration for a very long time but it is not feasible the point of time. With all these progressive new technologies, new avenues are opening up every day.

Conclusion
Blockchain is a cutting edge technology which is changing the approach to work for many industries and the Space industry being one of them witnessing the same. With every advancement in space industry Blockchain is being used and it is cost-saving, accurate and secure for the space industry.

Why Fighting COVID-19 Needs More Than Blockchain to Succeed?

Posted on by Imarticus Learning

It’s been more than three months since the COVID-19 started spreading from Wuhan city in China in the whole world today. There are around more than 18 lakhs cases reported in the whole world. At present, there are more than 4 lakh cases in the US alone. COVID-19 has spread like anything in the whole world today.

Every other country is shut down and is under lockdown. Due to lockdown, every other company is suffering from daily loss. Also, different companies are trying their level best by coming with innovative ideas and crypto startup and other different ideas to tackle the pandemic using blockchain and decentralization.

Moreover, ideas are coming from everywhere to tackle the situation whether it is from analytics companies for prediction or reporting.

These ideas are much appreciated. People are working hard to share their beliefs using technology like Artificial Intelligence and Machine Learning. But there’s a need to check about what all ideas are practical and possible to implement. They should not be used for marketing strategies.

Data is considered to be a very important part while making a prediction and studying something. Data is the key role used for making predictions these days which helps you to generate insights. For a Data scientist, data is considered to be everything. The more the amount of data, the better is the predictions made from it.

China is considered to be well advance in using technology’s but the data shared by china of patients and disease was inaccurate. It consisted of false information. Many leaders have shared their disappointment with china. This is the reason why blockchain technology will be bad because of the wrong input of the data which would result in the wrong output.

What All Can Be Done to Overcome the Pandemic Crisis and the Coming Recession?

No one can deny this fact that the year will change the usage of different technology which is a great turning point and also creativity. Nothing will be the same again. People are losing jobs constantly across the globe due to the great impact in the IT industry. When we will start the economy again nothing will be like a similar situation like the previous one. We will see the increased use cases of Artificial Intelligence and Machine Learning along with tech like IoT & Blockchain to develop systematic services and other different applications.

Previously discussed why blockchain cannot be considered as one of the solutions due to inaccurate data and there is no need to make it inflexible. But the technology presents several other applications in the banking sector like loans, payments, and supply chains, etc. Targeting the payment service can turn out to be an important factor in terms of success. The US-made sure that freelancers and people working from home workers are paid in time by digitalizing which is not a new thing for the country. This would result in complementing the insurance and fund distribution.

Countries like Japan and Sweden are well advanced digital currencies. Different banks have come out with a piece of information that focusses on the future of payments and cash by noting down the fact a person can even get corona transmitted through cash. People are focusing on how to reduce the flow of cash and switch to the digital currency where blockchain is the game-changer. These points can be questionable but banks constantly are trying to make people believe in cash and are requesting contactless payment methods. It is proved that how digital currency can help in this pandemic situation and the use blockchain with these sorts of applications can be the game-changer.

Also Read: BLOCKCHAIN: A SOLUTION FOR POSITIVE SHOPPING BEHAVIOURS AMID COVID19

Blockchain: A Solution for Positive Shopping Behaviours Amid Covid19

Posted on by Imarticus Learning

The world is battling against the recent pandemic of the novel coronavirus. The whole world has come to a standstill and everyone is trying to practice social distancing and safety measures. Not only medically, but this pandemic has also challenged people financially, mentally, etc. We are lucky that we have so many technologies that are doing our share of work. One such technology is blockchain which is helping a lot nowadays amidst this pandemic. In this article, we will discuss the benefits of blockchain technology in the shopping sector amidst this chaos.

What is Blockchain technology?

Blockchain is a technology that supports payments through digital channels. It takes care of digital information/data during online transfers. It allows the user to share digital data with any person and that information can only be read. Blockchain ensures that people can only access information about digital payments and history. They cannot change or manipulate the data/information.

The power of authority is equally shared among people as there is no central controlling point in blockchain technology. Security is the main responsibility of blockchain. Blockchain is widely used in digital transactions and cryptocurrency distribution. Let us see the positive effect of blockchain technology on shopping behaviors of people.

Less portal charges

You can transfer information from one point to another using blockchain technology without any transaction fees or portal charges. The block/information which is to be transferred is passed on to the millions of computers around the globe before reaching its final destination. If someone tries to falsify this information, then he/she has to falsify all the million checkpoints too through which the information is passed before reaching its final location.

For example, whenever we do a credit card transaction on any online portal, we give a few transaction charges which are taken by the credit card company or the service provider. There are no transaction charges cut by the blockchain technology in such transactions. Amidst this pandemic, we can apply this technology worldwide to reduce buying costs for all the people involved.

Distribution of control

There is no central authority in the blockchain. It is a decentralized technology. Covid19 has forced people to stay in their homes and work from home. If there was a centralized technology, then all the information would be stored on one entity only and people would have to monitor and control it, if any damage comes to the central authority, it can result in complete data loss and security concerns. Blockchain enables information sharing by everyone without being manipulated. This will surely help in shopping and marketing amidst this novel coronavirus outbreak.

Transparency and Stability

If you want to look up to transactions of any cryptocurrency institution, you can easily see it using blockchain technology. But you can only see the transactions and cannot manipulate them. For each block, a hash code is generated and it is hard to break all the security protocols. All the transaction done with a public address on blockchain technology is visible to everyone. This also forces these firms to follow honesty. Blockchain technology is transparent and secure at the same time.

Since human interaction in physical terms is impossible amidst this outbreak, this technology can clarify the doubts of buyers and can also be trusted because of its transparency. Immutability is also a major concern in blockchain technology. One can understand these things practically through various blockchain online courses.

Note – A hash code is generated through a hash function in which the input string is changed into a different output string. The output string is generally large and tough to decode. Any small changes made in the input string affects the output string by a huge margin.

Conclusion

The human society has taken a huge blow due to covid19. Amidst this pandemic, blockchain technology can ease our difficulties by modifying our shopping habits. One can easily find many blockchain online courses to start learning. It will help us in adapting to the current scenario. This article was all about the pros of shopping through blockchain. I hope it helps!

Also Read: Why Fighting COVID-19 Needs More Than Blockchain to Succeed?

How Can I Start Career in Blockchain Technology

Posted on by Imarticus Learning

What’s trending today might be obsolete tomorrow that’s how fast-paced technology has made our lives. Every other day you hear some news about a new technological marvel that creates a benchmark. A decade ago nobody had even heard of Blockchain technology, let alone thinking about pursuing a career in the field. Today it is one of the most sought after fields and is counted among the industries with most rewarding career prospects given the growing demand for and acceptance of this technology. Before jumping over to how can you start a career in this domain let’s get a brief idea about what this technology actually is.

What is Blockchain?

The blockchain can be understood as a decentralized digital ledger that contains information related to transactions of economic significance. The blocks contain data related to the transaction like information about the parties involved, timestamp of the transaction, etc. One of the unique features of this technology is that the information stored in blocks can’t be altered later on, this makes it less vulnerable to the malpractices of corruption.
To simplify things it can be understood as a shared spreadsheet where changes are recorded from multiple users in the network who has the access to the document and there is a track of changes made by people within the network. It is not entirely the same as a spreadsheet, it is a form of the digital ledger and the security and sharing are a little more complex than a shared spreadsheet. The technology was initially developed to power cryptocurrencies but given its high utility, it was accepted across various other industries like healthcare, real estate, insurance, etc.

Building a Career in Blockchain Technology

The blockchain technology is still in the nascent stage and a lot is still unexplored in this domain. The technology has a plethora of opportunities for developers and other tech geeks, given its application across multiple industries, it is yet to reach its full potential in terms of employment generation. Since the field is comparatively new, there is no standardized formal education which is designed for people eying to pursue a career in this field.
What matters here more than a degree is the skillset you carry and the knowledge you have amassed, given your interest and curiosity in this technology. Blockchain course is designed to educate people who are eager and want to gain a holistic knowledge of the technology and its applications. The blockchain courses will give you kick-start as a beginner but since this technology is still in infancy you’ll need to be attentive towards the developments in the field and also you’ll need to upskill yourselves according to the changes in the industry.

One of the most important steps towards your career progression in this field is to understand the fundamentals of this technology. Every unique technology has a unique value proposition; the internet aimed to make an uninterrupted interconnected network, the core idea behind blockchain is to provide a method for exchange of value where no third party is involved. Understanding the essential elements of blockchain technology like decentralization, cryptography, smart contracts, etc. is vital.
Blockchain developer is an in-demand job role in this field, this requires technical expertise in the digital ledger technology to have a sound career. Learning JavaScript for web development and Solidity for Smart Contract would be a good start in the right direction. Having a background in computer science will give you a boost and programming knowledge is an added advantage.

Cryptography is at the core of the blockchain technology, applications of blockchain in areas of asset management is possible because of cryptography. Cryptography is proving to be helful in securing assets and is used by big corporations for the same. Training yourself in cryptography and opting for a blockchain course will increase your chances of landing a job in this domain given the growing demand for cryptography across multiple industries.

In addition to this, there are several cryptography projects in the market that also rewards you for completion, this will help you develop your skills and also help you to assess where your interest lies. You can be a part of blockchain communities where you’ll get the required exposure and guidance that will help you analyse and choose among the career options available in the blockchain domain.