Crypto in the Insurance Field

 

Introduction

The number of fields, in which cryptocurrency can be used, has grown to an extent, off-late. It provides people with many facilities without the interference of a centralized body, that is, the government. People can buy goods in exchange of cryptocurrencies. They can even store it in the form of digital wallets. This digital currency has also attracted many insurance companies. However, these companies are not taking any risk at present. This is due to the fact that this currency is not yet accepted legally in many countries and lacks stability in its values.

Interest of Insurance companies in Cryptocurrency

Despite having some drawbacks, insurance companies are taking many steps to become familiar with cryptocurrency and its wallets. Many of these companies have started digging in this field. They are offering insurance to the people living mainly in those countries in which cryptocurrency and blockchain technology is accepted and is legal. Insurance companies are offering these facilities quietly, that is, they are not interested in boasting about the crypto insurance. Cryptocurrencies have experienced many security-related issues as companies are not sure about the rates of these currencies. Therefore, many companies based on the crypto-field are including insurance for security purpose.

Importance of insurance for crypto-startups

Crypto-startups are taking the next step in the crypto field. Due to the security issues in this sector, many of these startups have introduced insurance. It has become an important aspect of these companies. Many experts have claimed that insurance is the most necessary thing for companies related to cryptocurrency. This helps them to ensure safety and provides an easy way to work along with banks.

Rate issues with insurance companies

Many insurance companies are providing protection services to crypto-companies at a very high rate. In fact, some are charging two to five times more than the rates offered to non-crypto companies. Despite having higher rates, these companies are providing great security in the crypto-field which will definately help in the growth of this sector.

 

 

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Crypto in space

Crypto has brought revolution in a number of fields which we might not even think of. One such field is travelling to space. Giant space exploration organizations like SpaceX, Nasa, and Blue Origin have already changed the way, we dreamt of traveling to space. Now, how can cryptocurrency and blockchain be the participant in this amazing future of space exploration? This is where spacebit enters. Spacebit is an innovative space company with a goal to democratize access to space. Their mission is to tokenize all of the current commercial space missions around the Earth. These missions include travels to the moon and other heavenly bodies. Spacebit is also allowing common citizen to participate in space programmes to decentralize the entire system.

Benefits of cryptocurrency

There are many benefits of cryptocurrency. You may be wondering about the advantage of using crypto in space. Bitcoin can be personally brought and anyone can claim its ownership anywhere, including space. Bitcoin is a digital currency and is secured by Blockchain technology and has many features such as possession of the private key, privacy, ownership etc and the owner can claim its full ownership anytime.

Why Cryptocurrency in Space?

The best thing why cryptocurrency will rule the future even in the space is because of its international standards. For instance, if traveling into space become possible, you still need a proper currency to go with. Due to a less amount of cash to carry, the digital currency would be the best way to do all the transactions. Also, if you think beyond, it would be hard to transact and convert all the local currencies from here and there, as, there won’t be any country specific currency in space. Transacting and converting among various currencies would become a hassle and a lengthy process. Thus, cryptocurrency, which is assumed to be the global currency in future, can be considered as the best medium to travel to space.

 

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Timestamping

Timestamping means a sequence of numbers in a specific format used to identify the time that a transaction takes place. In other words, it means to securely keep a track of modification and creation time of the documents. Timestamping is done in a secured way such that even the owner can’t change it once it is recorded. For trust and security, it is to be issued by a trusted third party which are acting as Time Stamping Authority (TSA). Digital signatures and hash functions are used to create the timestamp. It has made cryptocurrency exchanges more secure and beneficial.

Decentralized timestamping on the blockchain

It is possible to keep a timestamp in the cryptocurrency world. The decentralized blockchain is used for this purpose. The main aim of any timestamp is to store anonymous fully hidden, tamper-proof timestamps for any type of digital content. No one should be able to change the timestamp with or without using any tool. For this, the digital content is hashed. The hashed data is now stored in a blockchain. It is one of the most secure proof to verify the time or date the data existed. The timestamping tool available in the market will be able to hash files, emails, or even plain text. You can store the hashed files in the blockchain. The only thing you have to check for any timestamp service you are looking for is, the experience, privacy, and whether or not it is tamper proof. Moreover, you can check the submission time.

 

Usage

 

Timestamping can be used by anyone who wants to provide documents, photos, emails or any digital files that has been created. As soon as the owner submits the unique fingerprint to their timestamping service, the service will embed the fingerprint into the transaction. The service will first aggregate the submitted hashes. When the transaction is done, it is impossible for anyone on the internet to change those hashes. The hashes couldn’t be altered once the transaction is done. Once the process is completed, anyone can verify the timestamp. All you need to do is turn on your internet connection and look for the blockchain explorer.

 

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Top Six Investment methods to improve community

 

Investment in community welfare is a good option to make contribution towards the community. It is a great way to help people and develop opportunities and resources for them. Knowledge on investment is widely available in this digital era, but figuring out the best is crucial. Some of best ways to invest money for future growth as well as community growth are

  • Stock Market– stock market is a most common type of investing money. Buying a stock is equal to buying a small portion of the particular organization and when the organization get profits, its stockholders also get small portion of the profit. Buying a stock of social organization makes a true contribution to the community welfare.
  • Credit unions or community development banksCredit unions or community development banks are the institutes that help people to set up small business, affordable housing, job development, and health institutes.
  • Community development Loan funds– these institutes provide affordable financing for co-operatives, housing and economic development projects, and community based nonprofit organizations.
  • Mutual funds– it is a mixture of bonds and stocks that are bring out by professionals investors after doing a lot of research to investing methods. It is open for everyone. Investment in socially responsible funds may indirectly support in investing community welfare.
  • Invest in future currency– the global economy is a digital economy and everything is going paperless. The new and most encouraging addition in it is crypto-currency. A crypto-currency is a digital or virtual currency which is gaining popularity very rapidly and it is also a wise medium to invest in community welfare.
  • Investment bonds– investment bonds is a kind of loan agreement in which company gets a loan from its investment bond owner and pays an interest over its loan. These are less risky but gives low returns.
  • Investment in Pool Groups– it is a significant option for diversifying community investments. It is invest for a large facility that spread money in the pool of different institutions that mostly work in the rural or deprived areas.

A little contribution to the community can makes big changes. To become a responsible citizen, it is good to invest in social or community investment schemes. It can help a low income person to build a home, develop deprived communities or can invest on the education of poor children.

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What is a Cryptocurrency Bounty?

 

Cryptocurrency bounty is a simple way to earn free coins during or before and ICO (Initial Coin offering). You can earn the bounty by completing the tasks given by the coin developers.

It does not require any payment from your side but only your time and energy you invest in completing the tasks.

 

What types of Tasks you have to do to earn the bounty?

The tasks given by coin developers are generally easy and the main areas include creating blog posts, posting on Facebook, tweeting, logo designing, participating in forums and other simple tasks to promote the ICO to get potential investors.

Thus, you can earn coins without any actual payment but with the help of doing these tasks. When the coins are released on the exchange, you will get your share where you can either sell them or HODL them.

Bounty is given to one winner who is first to deliver the results. These tasks vary from finding a bug or creating a blog and can be found in the Bitcoin community.

The winners are decided on the community by the public vote of the members or the coin developers themselves. It is simply like working for a cryptocurrency but the chances of winning it is not certain.

 

Advantages of Bounties

You don’t have to pay for the cryptocurrencies as they are very expensive but only require your skill and time. You can earn a lot of profit from earning these free bounties.

The coin developers get the added advantage of promoting their coins across the network.

 

Darker Side of the Bounty Market

Frauds and scams are very ripe in the crypto market and many fraudsters use the bounty market to promote and the blockchain and ultimately dump the tokens. If a person is held responsible for promoting scams, then he/she can be convicted for this tasks as real money of investors is involved in it.

One should be cautious and careful while accepting bounty requests or else you can end up in trouble.

 

How to find Bounties?

You can find many different kinds of bounties of https://bitcointalk.org/and http://www.cryptocurrencytalk.com

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New Trend of Cryptocurrency in 2018

 

Cryptocurrencies have become a revolution in today’s fast-changing world and have seen drastic changes in the past decade. 2018 was very eventful for cryptocurrencies as new trends merged while old trends become obsolete.

Some of the top trends in the cryptocurrency market in 2018 are:

 

Acceptance by people

A change is possible only when it is accepted by the masses. Cryptocurrency is slowly getting accepted by people with every passing day which is increasing its value and popularity.

The popularity of cryptocurrency is not just restricted to investors but people are using cryptocurrency in their everyday transactions. Banks, who have been primarily threatened by cryptocurrency have started opening up new avenues for cryptocurrencies, having realized their vast potential in the future.

Many governments have started accepting cryptocurrencies as a legal tender and their popularity is growing fast. So, cryptocurrency is fast going mainstream.

 

 Changing Role of ICOs

In the past year of 2017, ICOs emerged as the new trend for funding without any restrictions. The dependency on the venture capitals was finished and even regular retail investors started investing heavily in cryptocurrencies.

This year, this process has been further refined and a new concept of Pre-ICO has begun. Investors investing in pre-ICO get a huge bonus, cheaper price per coin and get additional benefits like prime access to the software or Titanium card etc.

But it is not all green, many ICOs have been banned this year because of their non-adherence to the local laws. The ICOs are becoming accountable to government regulations and some restrictions are being levied on them.

 

Decentralization

Decentralization is an integral part of any cryptocurrency. It is now not just restricted to coins but has also expanded to applications.

Decentralized Apps (DApps) have started emerging as the new trend in 2018 which will be used for lending, payments, insurance, gambling, tokenization of assets and much more.

 

Bitcoin is a synonym of Cryptocurrency

Bitcoin is the most popular cryptocurrency till date and has dominated the market from the past decade. It is till date, the best and biggest cryptocurrency.

 

Even though many rumours and speculations have been spreading in the market regarding its downfall or replacement, but that is far from the truth.

Cryptocurrency trends are very volatile and can change any moment like the price of Bitcoins. These trends have played a significant role in shaping the future of cryptocurrencies in 2018

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Stratis Cryptocurrency: A beginner’s guide

 

With new cryptocurrencies entering the market every day, you need to keep yourself updated with the winners and the losers in the market. Stratis is one such cryptocurrency which is in the top ten list.

 

What does Stratis Means?

Stratis provides the service of a blockchain platform for institutions and corporations. Stratis simplifies the process of testing, development, research and deployment on the .NET framework of the C# applications.

Stratis aims to become one stop for all the blockchain related things and in technology, it is just like the Bitcoin code with its core code written in C# language.

 

What does Stratis token (STRAT) stand for?

The Stratis platform runs the native token, STRAT. The initial ICO of STRAT was launched in July 2016 where it raised 915 Bitcoins amounting to $675,000. STRAT price rose from $0.23 to $7.55 which makes it one of the fastest adopted cryptocurrencies in the world.

Market cap of STRAT

A total of 99 million STRAT token are available in the market and each unit costs around $1.5 which makes it market cap close to $150 million.

It is difficult to buy STRAT token but they can be exchanged for LTC, BTC, ETH or other cryptocurrencies.

Real-time uses of Stratis

Stratis can be used in the real world in the following ways:

  1. Provenance: Stratis blockchain will help in solving the problems of product tracking and verification. In the manufacturing process, the problems of forgery, frauds, and counterfeiting have increased which can be easily solved via Stratis.
  2. Research: Stratis will help in streamlining the process of publication and resolve any research disputes by having an undisputable record of data.
  3. Fintech: The problems of identity theft, settlement management, trusting of escrows, KYC compliance and management can be solved by Stratis cryptocurrency.

Advantages of Stratis over Ethereum

Stratis cryptocurrency has side chains which are not available in Ethereum. Also, the smart contracts are written in Solidity in Ethereum, while in Stratis C# is used which is the common language for the developers around the world. Stratis can be used for development, testing, and deployment platforms which is not the case in Ethereum. Stratis is ready for Segwit while Ethereum is not ready yet.

 

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Top Cryptocurrencies Desktop Wallets you should have

 

Wallets are very important to keep our cash safe and secure. In the same way, you need wallets to keep your cryptocurrencies. But, cryptocurrency wallets come in many different types like desktop wallets, hardware wallets, mobile wallets, paper wallets, and web wallets.

Among all these, Desktop wallets can be customized according to the user needs and can be installed on different desktops. Here is a guide of top desktop wallets you should be using for your cryptocurrency.

 

  1. Jaxx

Developed by Decentral.Inc, a Canadian based firm, Jaxx is one of the coolest multi-cryptocurrency desktop wallets in the market. This HD Jaxx wallets have a secure PIN feature and ShapeShift for inbuilt crypto exchange.

 

Jaxx is free of cost, supported by Windows, Linux and Mac OSX, Seqwit enabled and highly recommended for all.

 

  1. Exodus

Exodus is one of the best desktop wallets available for Bitcoin and 30 different types of altcoin. Crafted by Daniel Castagnoli and JP Richardson, Exodus is not only user-friendly but also does not require the user to do extensive KYC to use the wallet.

 

Exodus comes free and is recommended for intermediate and advanced users. Windows, Mac OSX and Linux are its supporting operating systems.

 

  1. Armory

Armory wallet is a heavy wallet and is an open source software. On the upside, the user can create old storage wallets for their cryptocurrencies using the Armory wallet. On the downside, you have to download the complete blockchain and then set-up a node to use this wallet.

 

It is recommended only for advanced users but comes free of cost.

 

  1. Electrum

Electrum is one of the oldest wallets in the market and one of the lightweight wallets. This wallet is available for both desktop and the mobile version and enables the user to customize the transaction fee for each transaction done by the user.

It is open-source project and a self-hosted wallet. It is free and recommended for intermediate and advanced users.

 

These are the top desktop wallets you can use to store your cryptocurrencies, but all these wallets are self-hosted. It simply means you are yourself responsible for your funds and these wallets only give you a PIN to secure and safekeep your Bitcoins.

 

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3 Must Read Books on Cryptocurrency and Blockchain Technology

 

Even in today’s digital age, there’s no alternative to books when you are looking to get detailed knowledge on a particular subject matter. Although blockchain/cryptocurrency is still a developing technology, of-late it is getting wide attention among digital asset investors.

If you are looking to learn more about blockchain technology and understand the nitty-gritty associated with cryptosphere in greater detail, then here are 3 amazing books that you must go through.

  1. Blockchain Revolution

Authored by the father-son duo of Don Tapscott and Alex Tapscott, ‘Blockchain Revolution’ is one of the finest books ever written on this subject. You will be amazed to find how the technology behind Bitcoin is changing today’s business landscape by moving the world towards virtual digital asset.

The book explores the application of blockchain across different industry verticals. The authors have expressed their views in simple words – without coining too many technical jargons – thus making it an ideal book for non-techies to gain finer understanding of blockchain technology.

  1. The Age of Cryptocurrency

If you are an aspiring crypto investor, it’s the perfect book to get you off the mark.

Paul Vigna and Michael J. Casey have managed to come up with a convincing effort to describe blockchain in layman’s terms in their book titled ‘The Age of Cryptocurrency’. The book has been written keeping in mind the newbie investors. It provides a bird’s eye view of Bitcoin’s past, present and foreseeable future in an analytical manner, and takes the analogy to other virtual coins as well. It is a highly recommended book for those users who are looking forward to understand blockchain technology in general and Bitcoin basics in specific.

  1. The Business Blockchain

The target audience for this book are the executives and managers dealing with blockchain technology. Authored by William Mougayar, who is an entrepreneur himself, the book provides detailed case studies from various business specific angles. It primarily deals with implications of blockchain technology on financial services. It may not be a suitable read for the beginners, but readers with decent knowledge on business finance will find the book quite interesting.

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Using a Trustworthy Crypto Exchange and Getting the Most out of it

 

The world of cryptocurrency and the blockchain can certainly be an intimidating place when you first decide to venture inside. The seemingly complex industry is actually quite easily explained in a few short steps. One of these important initial steps is to register yourself with a reputable cryptocurrency exchange. This forms the foundation for your trades, your trading hub essentially.

This all makes the decision very important. Therefore, how can you be sure to choose the right one, and what features should you look out for.

New to the Industry

As a newcomer, what you want to choose is an exchange which has a simple process for registration and trading. The time to worry about other intricacies will come further down the road. There are many options when it comes to highly reputable exchanges. These include the likes of Coinbase, or for those a little further on their developing crypto journey there is Binance which is a largely trusted crypto to crypto exchange.

Too good to be true

The old saying about something being too good to be true also holds up well when it comes to cryptocurrency. It may be tempting to sign up for what seem like legitimate exchanges offering big perks and deposit bonuses, but the most important thing you can do with any of these is to consult your nearest search engine first. Absolutely get some verifiable reviews and feedback from other real users before transferring a penny. There are many frauds out there.

Refer Your Friends

Don’t be shy about referring your friends. As you have just been, they too are probably on the lookout for a trusted exchange. What better way to find one than a friend’s recommendation. This is a key method when the industry is still growing so fast. By doing this, many exchanges will also offer some form of incentive or bonus based on your friends trading.

Ultimately, this means you can benefit both financially and in your duty as a friend. The resounding point to take from this piece is to ensure you conduct your own background research prior to registration.

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