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#wupples #wupplescrypto #crypto #defi

Hi!

In our last lesson, we looked at some of the ways DeFi can benefit a small or medium business by providing alternatives to a traditional bank loan or a safer online hosting space.

Today we’ll talk about using DeFi and creating a decentralized exchange platform.

Starting a decentralized peer-to-peer crypto exchange program is an excellent business idea nowadays.

According to some sources, decentralized exchanges are even more popular than centralized ones among traders.

When they’re thinking security, people may initially prefer centralized exchanges, but many realize that decentralized exchanges can be just as secure.

While crypto exchanges are picking up the pace in trading and exchanging money to crypto (and vice versa), many entrepreneurs are planning their crypto exchange platform.

It’s a good idea to start your p2p crypto exchange platform to attract more investors and traders to your business.

Decentralized exchanges are easy to manage. They come with an Admin console that can interrupt to resolve any disputes regarding the transactions.

Also, these p2p crypto exchange platforms will help you generate more revenue compared to a centralized crypto platform.

Do a bit of research and find a good decentralized exchange platform development service like Coinsclone to make things work for you.

A similar idea is that of asset tokenization.

This is another form of crowdfunding where you can generate high revenue for your business.

It’s the process of tokenizing physical assets like gold or property to digital assets that can be listed in the crypto trading platform to generate capital for your business venture.

All you need is an asset that can be tokenized to generate that capital.

Afterwards, you can list your tokens on the trading platform.

Asset tokens are totally decentralized and they are sustained in the market by smart contracts and DeFi.

Asset tokenization is one of the hot areas of DeFi in the current market and can be a great business idea for you.

In our next lesson, we’ll take a look at some getting into financial transactions.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #defi

Today, we’re talking about DeFi or decentralized finance.

There are plenty of benefits for small to medium business owners and we’ll be taking a look at those.

In this lesson, we’ll talk about a few of those benefits and how you can use them in your business.

DeFi may not be specifically designed for small business, but it has many applications that would make your life easier.

Some of these have already been implemented—and are probably just the tip of the usefulness iceberg.

One huge benefit comes in the realm of bank loans.

Many small to medium business owners struggle to get approval for a bank loan to set up that business or expand it.

This is a huge stumbling block for business owners and has to do with the bank’s risk aversion and unwillingness to take a risk with their money.

DeFi is repairing this by making it easier for small to medium businesses to raise alternative funding through other sources.

This is already being used, but DeFi makes that alternate funding more accessible and transparent.

One example of how this works is Karma, a Russian fully decentralized peer-to-peer platform.

Using this platform, businesses around the world can gain liquidity through investment by users.

As the process is borderless, a person can invest in a small or medium business from anywhere on the planet!

Another benefit is the ability to create smart contracts through DeFi’s projects.

These are the same as standard contracts, outlining what the agreement requires and what happens should it be broken, but unlike a paper contract, it will automatically execute and enforce those conditions.

For a small business, this helps build a record and keeps both the business and its customers tied to an agreed-upon commitment.

The most well-known smart contract platform currently is Ethereum, but there are others that can do the job in a similar manner and just as well.

Another issue small businesses have that the blockchain can address is identity management in online security.

It’s just not possible for a business to operate offline nowadays, so ensuring the best security to avoid hacking and fraud—without paying exorbitant fees—is an ideal situation.

Decentralized hosting spaces can give small businesses an option if they can’t afford a big hosting contract with one of the field’s leaders.

It gives transparent identification tools within a secure space.

These decentralized options are also usually faster, thus saving time and money for the small business owner.

In our next lesson, we’ll take a look at starting a decentralized exchange platform.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

Today, let’s look at 5 tips & tricks you should know before you get started with cryptocurrency.

It’s crucial to be aware of the basics of this new venture you’re entering.

Don’t just leap in with both feet—do your research and learn which applications will be most useful to you.

There are always opposing opinions about blockchain and cryptocurrencies (as well as about the people who own them).

Many people already think cryptocurrency is just a fad and will only bring disappointment to anyone engaging with them.

However, it’s important to keep an open mind and find reputable news sources that will keep you apprised of the truth—and the latest scoops.

Stick to the facts.

It’s no secret cryptocurrency is still not as stable as the standard (traditional) currencies.

Just think about that Bitcoin inflation around three years ago—up to almost $20,000 apiece!

You need to be agile with your decisions and think about what’s going to be best for the current amount of assets you have.

Even experienced crypto investors have no luck mastering the trends of these virtual coins, so don’t be shocked if you find yourself in the same boat.

Just ride the trend out and hang onto your crypto until the prices rise again.

Bitcoins are only one part of the cryptocurrency story, and you shouldn’t put all your eggs in one basket when investing.

Do your research and find out which coins are thriving, with the most-used cases you can benefit from.

What you use your cryptocurrencies for is up to you, so choose your assets wisely.

While cryptocurrency is a digital entity, you still need a way to store them online and offline.

This is where your wallets come in.

If you’re a beginner, the ease of access to a hot offline wallet will prove more useful and versatile to you.

Cold wallets, however, offer more protection from hackers and other criminals.

As part of your diversification journey, learn how to use both types of wallets.

While cryptocurrencies do have higher safety ratings than traditional money, it still pays to be alert.

If you want to trade or buy large amounts of altcoins in your mobile wallet, be prepared for the risks and vulnerabilities you will be opening yourself up to.

Try to study different ways of handling your assets, and see how you can manage your money in a more responsible—yet still convenient—way.

Mastering the crypto world takes a while, so don’t pressure yourself to become a tech whiz on Day One.

Like any skill, this one takes time, practice, and constant studying to find out how to maximize the potential of your virtual coins, whether you’re using them for trading or for daily transactions.

Thanks for listening!

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

Blockchain is typically associated with cryptocurrency, but there are plenty of useful applications being worked on now that may help your business get a head start on the competition.

In our last lesson, we looked at data asset management.

Today, let’s discuss handling money.

Blockchain technology and distributed ledger technology have a massive opportunity to disrupt the current banking industry by taking out the middleman on some of the key services traditional banks provide, including the following:

• Payments: by establishing a decentralized ledger for payments, blockchain technology could facilitate faster payments at lower fees than current banks charge.

• Clearance and settlement systems: distributed ledgers can reduce operational costs and bring us closer to real-time transactions between financial institutions.

• Fundraising: Initial Coin Offerings (ICOs) are experimenting with a new model of financing that unbundles access to capital from traditional capital-raising firms and services.

• Securities: by tokenizing traditional securities like stocks, bonds, and alternative assets—and placing them on public blockchains—blockchain technology could create more efficient, interoperable capital markets.

• Loans and credit: by removing the need for intermediaries in the loan and credit industry, blockchain technology can make it more secure to borrow money—and provide lower interest rates.

• Trade finance: by replacing the cumbersome, paper-filled bills in the trade finance industry, blockchain technology can create more transparency, security, and trust among trade parties worldwide.

• Customer KYC and fraud prevention: by storing customer information on decentralized blocks, blockchain technology can make it safer and easier to share information between financial institutions.

Blockchain technology provides a way for untrusted parties to come to an agreement on the state of a database without using a middleman.

By providing a ledger that nobody has to administer, a blockchain could provide specific financial services like payments or securitization without the need for a traditional bank.

Further, blockchain allows for the use of tools like smart contracts, which are self-executing contracts based on the blockchain.

They could potentially automate manual processes from claims processing and compliance to distributing the contents of a will.

In the next lesson, we’ll look at some tips & tricks of working with cryptocurrency.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

Over the last few lessons, we’ve been talking about blockchain and how to use it in your small to medium business.

In our last lesson, we talked about smart contracts and how they worked.

Today, we’ll discuss storing digital assets.

Storing your digital information has become far easier since the invention of cloud storage software, but is your data really safe in the cloud?

Many business owners are starting to worry about security. They’re turning to blockchain to solve that problem for them.

Blockchain is a tamper-proof technology, so storing your vital business information in trusted digital ledgers will be a handy alternative to traditional cloud storage.

While the vision of blockchain-driven digital asset management is a promising one, it’s not yet a reality.

Here are a few important things to know about digital asset management and blockchain:

Blockchain is decentralized, which means the information isn’t stored in a single central location but copied to every computer (node) in the system.

This makes it difficult to destroy or tamper with the information.

For digital asset management applications, this means blockchain is ideal for information that needs to be referenced by multiple parties, like an asset’s metadata—but they’re not ideal for storing large volumes of data.

Blockchain might function similarly to version control.

In this process, previous iterations aren’t destroyed or overwritten, and the same is true for blockchain.

New information means a new block is added to the chain, not that the previous information and transactions are destroyed.

They remain within the ledger, making rollbacks to previous versions fairly simple.

Blockchain gives you a complete audit trail history.

If you use asset identifiers, blockchain could make it possible to determine who made changes to an asset’s metadata and when.

Blockchain is not synonymous with Bitcoin or other cryptocurrencies.

While digital currency was one of the first uses for blockchain tech, it’s also useful for recording a variety of digital transactions (not just financial activity).

As blockchain becomes more and more prominent in the digital asset management space, keep the following tips in mind:

Keep GDPR in mind.

That’s General Data Protection Regulation, and it applies to how the tech is used.

GDPR regulations stipulate that personal information cannot be stored in an immutable form—and blockchain ledgers are immutable by nature.

To maintain compliance, be careful what data you store on the blockchain.

Only use it for information that must be shared between parties or systems.

Smart contracts will enhance the usefulness of blockchain for data asset management.

They’re not essential, but cutting out the middleman is surely an attractive proposition for anyone who creates, distributes, and purchases digital content.

Blockchain can play an important role in rights management, as it allows digital assets to be distributed—but not copied.

This adds a layer of protection against the misuse or unauthorized usage of assets or information.

Blockchain can be public or private.

This will be a key consideration when configuring blockchain for data asset management or for selecting data asset management providers.

Private blockchains will be better suited for applications that need greater security.

Public blockchains are already gaining ground as a way for creators to publish and distribute their work (while getting paid for it).

In our next lesson, we’ll take a look at handling money via blockchain.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

In our last lessons, we talked about intellectual property and advertising.

Today, we’ll look at smart contracts.

Although smart contracts were actually invented in the 1990s, they’ve reached their full potential with the aid of blockchain technology.

A smart contract is essentially a self-executing contract.

The contract is stored within the blockchain, and when a previously agreed-upon event occurs (like a deadline passing), the contract is triggered to execute itself (a payment is sent, a public record is written, etc.).

Unlike a paper contract, the blockchain is tamper-proof, so your contract is safe from hackers or other thieves.

There’s no way to change the blockchain without rewriting the entire thing, which would take massive amounts of computer power and effort, and would still leave records of the original contracts.

When someone applies for a loan, asks for credit, buys a condo, or begins a new job, a contract is created to legalize the agreement between the parties.

This contract will specify and record the terms of that agreement and the required actions of each party.

By itself, a traditional paper contract has no power to enforce those terms, thus requiring the services of a legal or governmental third party to oversee the execution of that contract.

If the terms are not met, the parties must rely on the intermediary to rectify the situation and enforce the contract.

With recent advancements in Distributed Ledger Technology (DLT), lawyers, notaries, or other middlemen are no longer required to oversee a contract.

Using a smart contract, people can execute and enforce the contract without third-party involvement.

Let’s look at an example:

A seller agrees to send 100 products to a buyer, for the price of 1 bitcoin each, by a specific date.

This agreement is written into an encrypted smart contract and put into blockchain.

If the buyer doesn’t receive the goods by the specified date, the cryptocurrency won’t be released and both parties will be notified of the contract breach without the need for any human supervision or intervention.

Think of the smart contract as a vending machine.

You put in your money, and the machine records the transaction and distributes the product.

In this analogy, the distributed ledger technology would be the hardware of the vending machine.

Some benefits of using smart contracts include time savings, cost-effectiveness, security, and ease of use.

Some drawbacks include human error, automatism (also a benefit), legal enforceability in some parts of the world, and difficulty using cryptocurrencies.

In our next lesson, we’ll take a look at storing digital assets.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

This time we’re talking about blockchain, the technology everyone’s talking about.

It’s still utilized mainly for cryptocurrency but there are many applications a small to medium business owner could incorporate into their business plan.

In our last lesson, we talked about the shipping process and validating your supply chain.

Today, we’ll look at how you can use blockchain with intellectual property and advertising.

Protecting intellectual property is especially hard in the digital era.

Hackers and thieves abound on the world wide web and it’s hard to avoid running into them.

Using the blockchain to secure your business’ intellectual property would ensure it can’t be stolen from you, regardless of where, when, and how you publish it.

Blockchain is tamper-proof, so your property is marked as yours the instant you record the event.

There’s no way for anyone to claim it’s theirs because the blockchain proves it’s not.

Similarly, selling your intellectual property to customers can easily be managed through the use of blockchain technology.

Blockchain allows a safe sales process and you don’t have to worry about chargebacks (when a customer orders a product, then cancels the payment through their credit card, forcing you to “eat” the cost of the item or service you just sent).

Advertising is a three-ring circus nowadays, with new products hitting the market virtually every second.

How can you ensure your ads reach your target audience?

Blockchain allows you to track your traffic.

A consumer opening one of your ads creates a blockchain record for you, allowing you to check the circumstances of your ad’s delivery.

You can then target your ads more directly to those customers most interested in your products or services.

With the help of blockchain, ad tech platforms can automate campaigns based on a specified set of rules.

If the audience falls into those specific criteria, only then will an ad be visible to them.

However, this process goes both ways.

By using blockchain, you’re letting your customers see how you’re handling their data.

Use it wisely, and you have another strong tool to build trust with your clients.

The most imperative concern for today’s consumer is privacy.

Respect that, and you’ll have a solid and loyal customer base.

In our next lesson, we’ll take a look at smart contracts.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

This time we’re talking about blockchain technology.

It’s tamper-proof and currently used mostly in cryptocurrency, but there are many new applications in the pipeline that you can use in your small to medium business.

In our last lesson, we looked at proof of identity, which is far more secure with blockchain than with traditional methods.

Today we’ll discuss your shipping process and your supply chain.

The shipping process is often bogged down with tons of paperwork, especially if you deal with overseas suppliers.

Providing essential information through the blockchain can eliminate much of that paperwork.

Besides that, tracking the shipment through blockchain allows you to instantly know if there is a delay in the shipment and to react in a timely manner.

The fact that blockchain is a tamper-proof technology is invaluable in your shipping process.

There’s no way for a supplier to claim they shipped an item if they didn’t, or to claim that your products were late arriving.

You’d be doing yourself a favor if you looked into blockchain technology for your shipping process.

And since you’re validating your products and your supply chain with blockchain, why not extend that verification to the whole supply chain?

This way you can track where each part of your product is coming from and prove to customers that your business’ supply chain is clean.

Ethically conscious customers will be happy to purchase products that had nothing to do with child labor or inhumane working conditions.

Environmentally savvy customers will appreciate your proof that the tuna you sell is harvested sustainably or that your paper products really are recycled.

In our next lesson, we’ll look at intellectual property and advertising.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto #blockchain

Hi!

Today, we’re taking a look at blockchain technology.

It’s currently used mostly for cryptocurrency, but there are many other applications that would be useful to a small or medium business owner.

We’ll discuss some of these applications over the coming days, and see how they might be useful to you.

Since a blockchain is made up of many blocks of information that cannot be tampered with, it’s excellent for proving vital information.

Identity theft is a very real threat in the digital world, and using blockchain to prove your identity is the best way to protect your assets and security.

In addition, many people worldwide have little or no access to government-issued identification cards.

Blockchain proof of identity would be invaluable to these folks.

In a similar fashion, blockchain can be used to verify new business partners—especially international suppliers you’re not likely to be able to meet in person—or to check a prospective employee’s credentials and work history.

Imagine a tamper-proof record of such information at your fingertips.

You could ditch the paper resumes and physical handshakes and rely on hard data to make your business decisions.

Besides people, blockchain can also verify products.

Would you like to be able to prove beyond the shadow of a doubt that you’re selling tamper-proof medication, certified organic products, sustainably-farmed foods, or authentic designer clothing (or anything else that might be counterfeited)?

Building trust has become difficult in today’s digital world, where you may not even know who most of your customers are.

Blockchain is vitally important in the fight against counterfeit products, and it can also help you build trust with your clients.

Blockchain opens the door to a much-needed digital security for today’s global business marketplace.

In our next lesson, we’ll look at your supply chain and shipping process.

Want more tips and tricks? (⁠click here⁠)

#wupples #wupplescrypto #crypto

Hi!

In the last lesson, we talked about accepting Bitcoin as payment for a job.

Today, we’ll discuss how to earn Bitcoin with your computer.

Are you interested in earning Bitcoin as passive income?

It’s called Bitcoin mining and it’s usually a complicated and costly process where you need a good bit of technical knowledge and some hefty upfront fees.

However, there’s a simple app that allows you to start mining instantly.

It’s called Honeyminer and it’s a free app.

You can install it on your Mac or PC and it lets you get started immediately.

The app makes it easy to just sit back and collect your Satoshi (1 Satoshi is equal to 0.00000001 BTC).

Just install the app on your PC or Mac and let it run.

Honeyminer will use your computer to mine coins and convert them into Bitcoins automatically.

The app gives you access to their “sophisticated mining software” and allows you to earn “meaningful passive income” just by leaving the computer on.

Depending on your computer power, you can expect to mine tens of thousands of Satoshi monthly.

And you can even mine while you sleep!

Downloading the app does require a valid email address, but it only takes a minute to install.

Then, you start using Honeyminer.

Its “proprietary algorithm” will then scan through dozens of cryptocurrencies to identify which coins are the most profitable to mine at any given time.

All of the mined coins will be converted automatically to Bitcoins and you can sit back and watch your balance increase every day.

Keep your coins as an investment or sell them for cash any time you want.

Earnings depend on the power of your computer’s graphics card (or cards) as well as the overall market conditions.

Newer PCs can make anywhere from $15 to $75 per GPU per month.

Computers with multiple graphics cards can make even more.

The app uses “aggressive security” to ensure that any information passing through their servers is anonymous and protected.

They offer 2-factor authentication to safeguard your account, and each line of code is compiled and audited in-house by security experts.

The designers claim there is absolutely no risk of malicious code like that distributed by “anonymously-produced mining software.”

In addition, they store your digital assets in “cold storage” (not connected to the internet), which protects you from online threats.

There’s virtually no risk—just an ever-increasing stash of cryptocurrency for your wallet.

Thanks for reading!