Blockchain Technology

Over the years, cryptocurrencies have been a hot topic worldwide. Also, many people invested heavily in digital assets, generating millions of dollars in return. As a result, the crypto industry has developed into a trillion-dollar market. Nevertheless, many people still need help to enter crypto due to its many confusing terms. For instance, some need to learn the differences between blockchain and Bitcoin. And who can blame them? Bitcoin is a cryptocurrency but also a blockchain. However, the blockchain is…

Living your best life after retirement doesn't just happen. It needs proper planning, discipline, and commitment. We are lucky to live in an age where there are so many ways of achieving financial security in retirement. One of the most promising ways is investing in cryptocurrency.  A cryptocurrency is a form of digital money that is decentralized and based on blockchain technology. A blockchain is a decentralized, open ledger that stores transactions in coded language. In practice, it's similar to…

We have all seen the unimaginable get unlocked by blockchain technology. I mean, from the overnight millionaires of crypto trading to virtual assets, NFTs, selling for millions of shillings on auctions. Blockchain technology finds use cases in almost all industries and always makes remarkable impacts. At first, the focus was on the financial sector, but it's now evident that the world's future is blockchain. So today, let's see what blockchain technology has for development economics. Understanding Development Economics Economics is…

Today, the manufacturing industry accounts for a more significant percentage of a country’s Gross Domestic Product (GDP). Data shows that manufacturers in the U.S alone generated $2.35 trillion by the fourth quarter of 2019. This sector mainly involves converting materials into finished goods through mechanical, physical, or chemical procedures. Despite being a lucrative sector, the manufacturing industry faces various issues that mostly emerge from poor management and outdated technology.  These factors slow down the company’s activities, resulting in the use…

Blockchain technology utilizes a distributed database to record transactions. It captures transactions, encrypts the data, and connects it in unlimited blocks that form an interconnected chain. Its first and most useful use case was in cryptocurrency management, and it remains one of the most significant use cases of the technology. However, other powerful applications have been popping up after this significant commercial success. The same way the technology records financial transactions, it can maintain other essential records such as health…

The construction industry is one of the most fragmented and high impact sectors in the globe right now. For example, the international space station project is created by 15 countries and about five space agencies. The eventual cost of its construction could exceed $1 trillion by the time of its completion. The development of big projects, especially where many stakeholders are involved, needs trust, and high transparency. Nevertheless, what has the capacity of giving full transparency to transactions worth billions?…

The increase in the number of cryptocurrencies affords the consumer a more extensive choice of coins. However, exchanging them when needed proves a tedious affair due to the different blockchain technologies.  Usually, the parties will have to find a third entity, such as a cryptocurrency exchange, to act as the transaction's trustee. Consequently, it could be expensive and time-consuming as not all cryptocurrency exchanges support all coins. Therefore, the only recourse is migration of accounts or sourcing for intermediary currencies.…

The global fintech worth is estimated at $4.7 trillion, with over 12 thousand fintech startups open globally. Due to its innovative networks, software, and hardware, fintech has captured millions of clients globally. However, any fintech startup faces serious challenges that the already existing financial systems have already faced, thus having a competitive advantage.  How can fintech startups take advantage of blockchain technology that has been in existence for quite some time? Here are six reasons why every fintech startup should…

It's without a doubt that blockchain technology has brought an enormous change in the finance industry. The distributed ledger technology (DLT) has dramatically transformed well-established financial institutions by improving transparency, lowering transaction costs, allowing faster transaction execution, and creating audibility of operations. For instance, blockchain technology has enhanced digital payments in the banking industry, introduced smart contracts, and integrates cryptography in a shared database to enhance transparency.  But while blockchain technology has enormously transformed the finance sector, mainstream adoption is…