Smart Contracts: What are They & How do They Work?

With the progress of the blockchain system over the years, a lot of new features have started coming into play. Initially a manual system, it has now progressed to the point where transactions can be made completely automatically. That is, without involving any third parties at all. This is where smart contracts come into play. It ensures that the agreement between two people stays firm without the threat of any one of them backing out or delaying the process.

Here we are going to discuss what smart contracts are, how they work and what the benefits of using them are. The reason why the blockchain system has progressed so far is because of the highly adaptable nature of this industry. This is the reason why it has continued to remain afloat while others could not. 

So it is only plausible that this industry has also demanded professional opportunities recently. If you are someone wondering what to do with your career in the future, a Fintech course might just be what you need. A lot of institutions in India offer good courses.

Imarticus Learnings is one of the best among them. They have a compact Fintech MBA degree with a blockchain and cryptocurrency course included in the curriculum. It will not only teach you all you need to get ahead in the game but would also provide good placement opportunities that will put you leagues ahead of your peers. 

MBA in Fintech with blockchain and cryptocurrency course

MBA in Fintech with Blockchain and cryptocurrency course

What are smart contracts?

Smart contracts are basically an agreement made between two parties recorded in a blockchain system. They are absolute and obviously, due to the extremely secure blockchain system, they can not be hacked into or tampered with in any way. These contracts function automatically, as in if an agreement is made of a transaction happening at a certain date if certain conditions are met, then given all goes according to plan, the transaction will be made automatically.

With no involvement required of a third party or even the parties involved in the first place, the system completes the transaction automatically, with cryptocurrency being the mode of payment that gets transferred to the respective payee’s digital wallet.

How do they function?

Basically in a blockchain system, two parties agree. For example, Rachel will buy a car from Monica with 150 Bitcoins on 18th October. And the ownership of the car will be transferred to Rachel when the amount is paid. Now, on 18th October, the amount gets credited to Monica automatically without Rachel having to do it manually at all. And just like that with the conditions met, the ownership of the car is now transferred to Rachel.

Benefits of using them

There are some serious benefits of using smart contracts. A few of them are listed here:

  • No need to involve any third parties, including brokers, lawyers, or even the bank.
  • Both parties are secure in their knowledge that the terms are absolute and the amount, as well as the goods, will be transferred to them without any delay. Which negates the chance of fraud completely.
  • Saves precious time as well as extra expenses on both ends.

Conclusion

Blockchain is a system that is now being used in or introduced to almost all sectors of business, education, and even health. So a degree in Fintech is the best possible course to take for career aspirants these days. Do check out Imarticus Learnings’ Fintech MBA program to get the boost you need in your career.

Give your career a head start with BBA in Banking and Finance

Banking and finance is a vast industry that employs more than 2 million people in the United States. It encompasses a wide range of jobs, from loan officers to accountants. Banking and finance professionals have an average starting salary of $62,000 annually.

How Vast is the banking and finance industry?

There are many benefits to making banking and financial services your career choice after obtaining a BBA degree in banking and finance. For one thing, it’s one of the industries with the best job prospects for new graduates-the Bureau of Labor Statistics predicts employment will grow by 17% over ten years–and if you’re lucky enough to land a position at a top bank like Goldman Sachs or JP Morgan Chase, you’ll be surrounded by intelligent, driven colleagues and managers who will push you to excel.

Scope of Career in Banking and Finance

The variety of career opportunities available for a person with a banking and finance background depends on their personality, interests, skillset, qualifications, work experience, etc. The banking sector is growing exponentially due to the increased usage of digital technology, which has led to an increase in customer base and transactions per second.

Benefits of making a career in banking and finance?

  • It provides you with the right platform to launch your career within the shortest time. The banking sector has been growing exponentially, which means there will always be ample opportunities for everyone.
  • The banking & finance industry provides job stability along with a good amount of salary packages on offer even during recessionary phases.
  • With the increasing demand for banking professionals, you will have a wide range of prospects to choose from and excellent career possibilities within multinational financial institutions.
  • A degree in finance opens up job opportunities across many industries, including insurance, brokerage firms, retail banks, etc.
  • The scope after BBA in Banking and Finance courses can be anything from being a banker or financial advisor to doing research or teaching at the university level, there are many options!

Career Scope after BBA in Banking and Finance?

The banking and finance industry is one of the most trusted fields. Being a part of this industry means providing financial assistance to people who need it the most, be it entrepreneurs or individuals in distress. It’s an excellent way to contribute to your nation’s growth too.

Banking and finance are some of the most rapidly growing industries in India. Career opportunities are tremendous after the BBA Banking course. Wonder what jobs a BBA graduate can get? Some job profiles are Financial Analyst, Financial Advisor, Loan Officer, Private Banker, Bank Teller Supervisor, Tax Assistant, etc.

bba online coursesWhile making a career in banking and finance, it is important to focus on your education quality. A degree from an institution that has established itself as one of excellence will benefit your future.

Learn and Grow with Imarticus Learning!

Imarticus Learning collaborates with the prestigious university to add value to their one-of-a-kind BBA In Banking & Finance Program. This unique program teaches students all they need to know about the practical applications of New Age Finance solutions, with an extensive tech-enabled curriculum designed to enhance industrial knowledge of critical Banking & Finance aspects.

This BBA in Banking and Finance program explores new-age solutions via hands-on training with cutting-edge technologies like API, Blockchain, Cloud Computing, AI, Machine Learning, RPA, IoT, and Big Data.

What’s Unique about this BBA Course?

  • Transformative cutting-edge solutions
  • Comprehensive curriculum covering in-demand New Age Banking and Finance skills
  • In-depth learning about Financial Modelling, Equity Research & FinTech.
  • Exposure to real-business projects, simulations & assignments.

For further details, contact us through the Live Chat Support system or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Hyderabad, Delhi, and Gurgaon.

7 Reasons Why a Distance MBA is Better than a Regular MBA

The MBA is the most sought-after graduate management degree in the world. Employers look forward to hiring more people with an MBA degree and students are enamored with it. Every year, a huge number of professionals apply to various sorts of MBA programs.

The MBA, as a generalist degree, provides you with essential management knowledge, which means you’ll gain a holistic understanding of the company across topics such as marketing, finance, and accounting, all while developing those important soft skills and leadership skills.

No matter what your experience is, if you want to develop management skills and advance your career, then MBA is the right option; whether you want to start your own business, rise within your existing firm, move functions, industries, or locations, or all three.

What is a distance MBA Course?

An Online MBA course is usually a two-year management curriculum intended exclusively for students or individuals who are unable to take up a full-time or traditional MBA degree. A variety of colleges and private institutions offer the MBA course part-time or online.

Several private and public universities in the country are stepping forward to provide the MBA degree to students via distance learning. After earning a master’s degree in business administration in any specialization, students can apply for lucrative jobs.

 Benefits of pursuing a distance MBA program

  1. What could be better than scheduling your studies and classes according to your convenience? A distance MBA is prefixed and follows a set schedule, but you can reschedule any classes you have missed.
  2. Going to college on a daily basis while also working a full-time job can become exhausting and stressful. Aside from the conflicting academic and office schedules, it is very tiresome. In the case of a distance MBA program, however, the situation is completely different. You can access the lectures whenever you want and your time spent traveling to college can be spent studying.
  3. There are numerous types of people in a country like India who have diverse financial conditions. Not all students can afford traditional MBA programs with exorbitant tuition fees. As a result, a distance MBA is ideal for students who are unable to pay expensive tuition and are looking for a low-cost and fair option. Most colleges charge modest costs for distance MBA courses, making them accessible to students from all walks of life.
  4. After obtaining an MBA through remote education, you will be qualified for any management position in a large corporation. You will be hired according to your specialization.The position and job description are also determined by the number of years of experience you have in the industry. You can apply for a variety of positions such as project manager, manager, brand manager, product supervisor, financial analyst, professor, and many others.
  5. In a traditional college, you have no choice of online classes. However, a distance MBA requires you to study online. You also do not need to be concerned about purchasing textbooks. The institute will supply you with reading material as well as online notes that you may quickly access.
  6. You can get admission anytime as there is no stipulated time within which you need to apply for admission into a Distance MBA program.
  7. There is a lot of leeway in terms of exam timing, venue selection, and online assignment submission in an online MBA course

Conclusion

The aforementioned points clearly indicate that taking up a distance MBA course is a very good option. It gives you a good deal of flexibility along with giving you a degree to kickstart your MBA career.

How Treasury Management in Banking is Essential for Small Businesses

Entrepreneurs are constantly on the search for banking services to help them manage their financial investments and assets. Treasury management services, which manage cash, investments, and other financial assets, can help businesses optimize their finances.

Treasury management is a way of managing aimed at optimizing a company’s liquidity avoiding financial, operational, and reputation hazards. Therefore, a post-graduate diploma in banking and finance will give you a fair idea about this part of the banking sector.

Importance of treasury management:

When recurring manual procedures, such as financial data management or automatic payment initiation, are automated, treasury management can help to boost productivity by eliminating inefficiencies within business operations.

Human errors can be reduced by minimizing manual operations. Finally, because cash flow is actively monitored, treasury management services in banks can assist a corporation to stay afloat.

Why should treasury management be considered by small businesses:

  1. One of the most significant advantages is time savings. Businesses can improve the payment process and reduce the time spent on payment approval and activation by installing a treasury management system.

 

  1. Businesses with access to numerous tools and resources can promptly discover the cost of cross-border transactions and better regulate other related expenses. Having better command over these procedures also removes some of the ambiguity from financial planning, lowering the risk of serious mistakes.

 

  1. Cash flow is vital for small businesses. Profitable businesses can fail due to a lack of cash on hand to pay debts. The treasury management function, a vital component of cash flow management, examines the timing and amounts of cash inflows and outflows. Accounts receivable conversions to cash, short-term and medium-term borrowing, asset sales or dispositions are all examples of cash inflows. Treasury management also entails monitoring and tracking the operations that necessitate the most cash.

 

  1. Treasury management’s duty also entails increasing the amount of time a company keeps the money needed to pay its debts while decreasing the amount of time it keeps money owed to its customers. Treasury management processes involve establishing policies for accounts payable and receivable, establishing credit approval policies, and determining collection terms. These activities provide a corporation with a float or excess short-term capital that can be invested. Larger corporations may open savings and money market accounts to serve as sweep accounts, earning short-term interest on incoming funds that will be used to pay bills quickly.

 

  1. Small businesses that have a treasury management system can devote more time to key business objectives. They can conserve the time spent on financial concerns. CFOs may require to know the location of their cash reserves and the currency value of the same. They also need to determine whether they should invest or just borrow. Furthermore, it is critical to understand whether they’re financially overexposed, or undervalued.

 

  1. Treasury management services can increase the transparency of user activities. Audit trails for all end users can be set up. Furthermore, because you now have a platform to standardize procedures and systems, treasury management services may assist ensure that firms are fully compliant with regional and worldwide requirements.

 

Conclusion:

Finally, a treasury management service that is dependable, and steady assists you in minimizing risk and maximizing your company’s growth opportunities. Personal contact with a qualified bank might help you a lot here. There are good online courses on this subject as it is a budding sector in the banking industry. A postgraduate diploma in banking and finance will help you fetch lucrative jobs in reputed banks.