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Job Opportunities in Blockchain in 2018

It is no secret that Blockchain technologies are on the rise. Businesses across a variety of industries are aware that Blockchain technologies have the ability to mitigate transfer and operational costs, increase transaction speed, and eliminate the need for parties to put their trust in an intermediary. Blockchain technologies also have a number of use cases in industries  where the Blockchain can provide businesses with a more secure method of record keeping.

Each day, more and more businesses have been inquiring with professionals on how to incorporate Blockchain technologies into their business model.  Concurrently, the demand for employees in the Blockchain industry has been on the rise and is expected to thrive in the new year.

In 2018, there will be many opportunities for individuals to work in the Blockchain industry. Here are a few careers in the Blockchain industry that will be in high demand in 2018.

Project manager

Businesses are interested in incorporating Blockchain solutions to optimize their businesses. That being said, Businesses will need to communicate their ideas to a Blockchain company who is able to meet their demands. To do this, there will need to be an individual to facilitate the projects that arise as the Blockchain company takes on more clients. A project manager in the blockchain industry will need to be able to convert the businessman’s english to a developer’s technical language, and from developers technical language back to the businessman’s english, so that the fintech company and the business interested in incorporating Blockchain technology can successfully do so.

A project manager is often the first person in a company who is contacted when a business looking to incorporate Blockchain technologies into their platform reaches out to a Blockchain company that can make that possible. It is the project manager’s responsibility to plan and supervise the execution of a project.

Community support

Blockchain technologies have been all over the media lately. Recently, there has been a large influx of people investing in cryptocurrencies, interested in incorporating Blockchain models into their businesses, and users of decentralized applications.

It just so happens that a majority of these people have never dealt with the Blockchain or cryptocurrencies ever before in their life–which is no surprise, Blockchain technology is not even 10 years old yet!

Therefore, there will need to be individuals who can troubleshoot the problems that users are likely to have at some point in their experience on the new Blockchain related applications and platforms

At this point in time, the knowledge regarding Blockchain technology is rather esoteric, so there is going to be a large demand for individuals who understand Blockchain technologies and cryptocurrencies and can troubleshoot and solve the problems that at least some individuals in the Blockchain community are bound to have.

Developer

Developers may have the most career opportunities in the Blockchain industry at this point in time. Banks, financial institutions, government agencies, insurance companies, and tech companies, are interested in running Blockchain platforms to better service their clients and users and to optimize the efficiency of their own businesses. But before businesses are able to accomplish their goal of Blockchain implementation and increased efficiency. The programs and platforms these businesses are interested in providing will need to be created.

As the phones at Blockchain technology companies continue to ring off the hooks due to businesses interested in incorporating Blockchain technologies calling at all hours of the business day, there is a dire need for individuals who develop and write the code that runs the program and platforms businesses are interested in providing.

Law

As the number of businesses interested in incorporating blockchain technologies increases, the demand for law services in the Blockchain and digital asset space will continue to grow. At the “Working in the Blockchain Ecosystems in 2018” event, lawyers said they have been receiving an increasing number of phone calls from clients and potential clients inquiring about the structuring and governance of ICO’s and looking for advice on issues that they may run into on their Blockchain/fintech endeavors.

A number of new businesses have emerged with the creation of Blockchain technologies, and practically all of these businesses are going to need legal guidance throughout their launch process.

Design

All of the new Blockchain related start-ups and businesses interested in hosting token sales will need to have a web-page to inform clients, customers, platform users and  potential investors, of what their company offers, what the company’s mission is, who the team members are and what their backgrounds are, etc.  

These companies will need to have a web-designer who can create the web pages that new Blockchain related companies will find are necessary to have.

In 2018 there is going to be several career opportunities in the Blockchain industry. With the rise in demand for Blockchain services, recruiting services like Johnathan Perkins and John Crain’s,  BlockchainJobs.Co  make the employment process easier by connecting companies looking for employees, with individuals looking for work.

At this point in time, a lot of individuals may feel as if they are not knowledgeable enough about Blockchain technologies and are not fit to apply for a position in that space. However,  individuals should keep in mind that employers are going to have to be reasonable when hiring, Blockchain technologies are not even ten years old–therefore businesses cannot search for a Blockchain guru with 20 years of Blockchain experience… that individual does not exist.  

Knowledge regarding Blockchain technologies is rather esoteric at this point in time. As long as an individual is skilled and has experience or experiences that make them fit or capable of completing the duties for a position, then that individual will be able to capitalize on the job opportunities in the Blockchain industry in 2018.

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With Development and Price, Where Does Ethereum Go Long-Term?

At a Blockchain conference hosted in Taipei, Ethereum Co-founder Vitalik Buterin outlined the long-term roadmap of Ethereum development.

According to Buterin, most of the underlying issues of the Ethereum Blockchain network fall under the following categories: scalability, smart contract safety, consensus protocol and privacy. Several network updates including the most recent Byzantium hard fork provided solutions in the four major areas. But, as Buterin noted during an interview with South Korean mainstream media outlet Joong Ang, it may take at least two to five years to truly solve scalability within the Ethereum network. Buterin said:

“I would say two to five, with early prototypes in one year. The various scaling solutions, including sharding, plasma and various state channel systems such as Raiden and Perun, are already quite well thought out, and development has already started. Raiden is the earliest, and its developer preview release is out already.”

Development roadmap

In regards to scalability, the Ethereum Foundation and the open-source development community of Ethereum made significant progress with the upcoming launch of the Casper testnet and the introduction of Plasma, a second-layer scaling solution developed by Buterin and Bitcoin’s Lightning Co-author Joseph Poon.

Casper is a long-term scaling solution that employs a hybrid proof-of-work (PoW) and proof-of-stake (PoS) consensus protocol onto the Ethereum network. Currently, similar to Bitcoin, the Ethereum network solely relies on the PoW consensus protocol to maintain the network and to verify transactions.

As Christian Reitwiessner, the team lead for Ethereum’s Solidity and Ethereum C++ implementation, explained in a recent paper, solutions like PoS is necessary to eliminate the workload of users, nodes, and dependence on miners. Reitwiessner wrote:

“Scalability does not come from the fact that Blockchains are relieved from their load by creating a big number of smaller chains and moving the transactions there. Scalability is only achieved once a user does not have to verify every single transaction that is sent to the system.”

Structurally, Ethereum is different from Bitcoin because it operates as a platform for decentralized applications (dapps). Hence, Ethereum urgently needs a scalable network which can handle dapps with millions of users through PoS solutions like Plasma.

To improve privacy measures of the Ethereum network, developers of Ethereum integrated Zcash’s implementation of zk-SNARKs, to potentially settle anonymous and private transactions. The image below demonstrates a zk-SNARKs transaction processed on the Ethereum testnet. The transaction does not show the amount of the payment, recipient, and the sender.

Eth

Long-term price trend of Ether

JP Vergne, a professor at Ivey Business School, noted in a study that developer activity is the most accurate predictor of the price of a cryptocurrency. Vergne said:

“We found that the best predictor of a cryptocurrency’s exchange rate is the amount of developer activity around it.”

Ethereum is the only public Blockchain network and cryptocurrency in the market which comes close to Bitcoin in terms of developer activity and hence, given the introduction of innovative solutions such as Casper, Plasma, sharding, and zk-SNARKs on Ethereum, Ether price will likely surge throughout 2018.

Mike Novogratz, the billionaire hedge fund legend, stated that he sees the price of Ether growing by three-fold by the end of 2018.

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SMEs Dismissed by the Banks, Beginning of the Era of P2P Finance

Karma means your deeds. What you do to create value for yourself in this life and beyond. The real economy is comprised of the deeds of the people who constitute it. Somewhere along the line we’ve forgotten what the economy is all about. We’re lost in a maze of big banks, lawyers, accountants and governmental regulations.

What we need today is a global disruption that would allow all participants in the economic system to get their fair share. According to the International Labour Organization (ILO), global youth unemployment is expected to reach 13.1 percent in 2017; it has already risen from 12.9 percent in 2015. Many of these youth are in developing nations.  

Challenges Worldwide quoted the World Bank in saying that there are 25-30 mln SMEs in emerging economies, which contribute 45 percent of the total employment and 33 percent of the GDP. They estimate that if each SME gave an opportunity to two young people, we could eradicate youth unemployment.

Lack of balance

The problem is who will fund these SMEs in the developing world? The present day system is mired with problems of our own making. Top management salaries are outrageously high. Lucas Chancel, renowned economist, recently brought to light the case of India where the top one percent of earners take up to 22 percent of the total income. The Hindu quoted him as saying that income inequality in the world’s second most populous country is now at its highest level since 1922.

Then there is the issue of banks, which are supposed to lend to make the economy grow but are saddled with huge operational costs, overstaffing and overbearing corporate structures. Banks have been slow to rise to the challenges of the 21st century and are exhorbitantly expensive for ordinary people to use. A large part of the global wealth is also locked away in richer countries with extremely low interest rates or even negative interest rates, while where capital is required is in developing nations with interest rates as high as 20-30 percent.

Developed countries have extremely low deposit rates

Source: World Bank

Source: World Bank

It is time to unlock credit and potential

Karma is planning to use the power of peer2peer (p2p) technology to provide credit globally. They want to create an ‘economy of trust’. They plan to provide an opportunity for people in developing countries to secure access to credit, and at the same time free up capital stuck in developed countries at low interest rates. In a way, Karma is about creating an economic ecosystem, one in which everyone can work with each other and develop diverse relationships as well as focus on interactions that are mutually beneficial.

Karma will be based on Blockchain and its alpha version will be ready to test by November 2017. The roles that will exist in the Karma ecosystem are those of investors, lenders, guarantors, scoring agents, analysts, sellers, collectors and insurers. Participants can be both individuals as well as legal entities. Participants will be assigned ratings and these would be valuable so as to ensure that the system remains transparent and effective.

What’s interesting about the Karma ecosystem is that unlike traditional lenders, which decide what loan products they will create or support, in Karma that power rests within the community of participants. These participants can support investments on any terms – even request loans on any terms. It will be the market that ultimately decides which loan products are the most successful.

Crowdsale to fuel Karma’s plans

After having held a successful presale and reached a hard cap of $500,000, Karma will be conducting a token sale between 27-29 Nov. 2017. Between Nov. 27 and 28, the sale is only for investors who have passed the know your customer (KYC) process and have been added to the white list.

The tokens on sale are called Karma tokens. If tokens are left over from this sale, they would be available for an open sale on Nov. 29, 2017. The crowdsale is legal in all jurisdictions including United States and China. It should be noted however that only qualified US investors can participate. The basic token price is $0,01 and discounts are available for early investors. A 50 percent discount will be offered till $1 mln is collected, 30 percent until $3 mln and 15 percent until $8 mln. A hard cap of $10 mln is placed on the ICO. Up to 59 percent of the tokens are for investors who participate in the pre-sale and token sale.

Karma tokens will fuel the ecosystem

Karma tokens are central to the eco system that will be created. These tokens will be used to pay all commissions for tasks such as scoring, transaction processing, insurance, collections etc. In order to conduct transactions, participants will be purchasing Karma tokens on exchanges post listing.

Since the supply of the tokens will remain fixed and as the demand for the tokens rises, it’s expected that market dynamics will push the price of the token higher. There are other benefits surrounding the tokens, like priority access to new applications from investors and borrowers for holders of more than 100,000 tokens, and up to 50 percent discount on conducting transactions on the platform.

Karma is putting people front and centre

It’s difficult for people to translate their dreams into reality without the means to do so. If Karma is successful in creating an ecosystem where people can gain access to credit at the parameters that they find comfortable, they will have revitalised and revolutionised the way the global finance system works.

The opportunities for all the stakeholders are immense, whether they be individuals, enterprises like pawn shops, non banking finance companies, lawyers, financial experts or insurers. Karma can free up the flow of credit that is stuck like sludge in the global pipelines.

However, what Karma will do, if successful, will be to build a network of trusted relationships around the world, all fueled by Blockchain technology. One thing is for certain, getting credit should not depend on your fate, but on your deeds and Karma.

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Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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ICOs Are Biggest Scam Ever, Will Lead to Disaster Says Infamous ‘Wolf of Wall Street’

Infamous penny-stockbroker Jordan Belfort, better known as the ‘Wolf of Wall Street,’ has reaffirmed his claim that initial coin offerings (ICOs) are “the biggest scam ever.” Earlier this year, he claimed that Bitcoin is a fraud.

ICOs have become popular to investors worldwide over the past year due to their high returns for early investors. Recently, signs have emerged that some ICOs might just be too good to be true.

Belfort claimed that a small minority of ICOs are total scams.

“Promoters [of ICOs] are perpetuating a massive scam of the highest order on everyone. Probably 85 percent of people out there don’t have bad intentions, but the problem is, if five or 10 percent are trying to scam you, it’s a f**king disaster. It is the biggest scam ever, such a huge gigantic scam that’s going to blow up in so many people’s faces. It’s far worse than anything I was ever doing.”

Despite Belfort’s claim, however, several digital currency community members think that the ICOs may be the future of venture capitalism and fundraising.

Are ICOs really scams?

Despite the claims by some members of the virtual currency community that many ICOs are “fraudulent,” the ICO fundraising model has been very successful as a method of raising new capital. Based on data from CoinSchedule, the 202 ICOs which were conducted in 2017 managed to raise more than $3 billion. The majority of the projects financed by ICOs have focused on the development of technological solutions for such industries as finance, entertainment, and data storage.

ICOs are also widely credited for the phenomenal growth rate posted by the entire cryptocurrency market in 2017. Just recently, the total digital currency market capitalization reached a record high of $172 bln, up from just $12 bln in 2016.

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Litecoin Increased for 1,500% this Year Even With the Major Declining Happening: LTC Price Analysis

Like Ethereum, Litecoin even more follows the cryptocurrency dominator by market cap – Bitcoin when it comes to price developments and for the near term it is not looking very good.

With the recent market changes that happened due to ICO ban reports from China and the rumors spread that the same country will be banning Bitcoin exchanges had a huge impact which resulted with this week being a price massacre compared to the previous experienced gains.

Litecoin only in the last 24 hours declined for negative 12.04%, third after IOTA and ETC. On a weekly basis on the same row “The Silver Coin” has lost in value against the US Dollar for 23.02% third in place again.

crypto price

According to Coinmarketcap

As the correction did continue all-together with the selling pressure being made on the LTC/USD pair, it dived below the $60 major support – specifically $58.40 which mark has not been touched for over two weeks now so more declining could go on for now at least.

ltc price prediction

However, if viewed on a wider range of market history, since last year September time, Litecoin has almost surged for 1,500% (1,478.94%) in price against the US Dollar, which for a longer term in-wallet holder of the LTC investor is happiness in numbers. From the low of $3.80 to around $60.00 trading ground now.

For Litecoin in particular price development, what brings positive change is its network upgrades and improvements to make it stand out of the market giant Bitcoin, keeping in mind that the original idea was inspired by Bitcoin as its known “The Silver to the Golden Coin” – Litecoin as silver to be used more of a transaction and exchange unit while Bitcoin as a storing value (gold).

Despite of that LTC price is majorly affected by Bitcoin’s market influence as it can be easily concluded from this and past weeks alone. It proportionally follows BTC in many changes so to understand LTC market one has to study even Bitcoin and its roots.

Co-founder and CEO of cryptocurrency platform Charles Hayter did put this correlation like:

“Litecoin is seen as Bitcoin’s little brother, while there are many other alternative cryptocurrencies out there, Litecoin has withstood the test of time and has accompanied Bitcoin through its ups and downs.”

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How Blockchain Can Change The Way Science Works, Explained

4.

The platform utilizes Blockchain technology and virtual reality.

Matryx utilizes smart contract systems (via Blockchain) to create bounties and incentivize solutions. Problems are posted, along with a bounty for a verified solution, so that users can collaborate to solve problems, share results, and earn a reward for contributing. All submissions are then added to the library and marketplace for future purchase via MTX tokens. By using a token, Matryx can support ongoing upgrades, and platform features and improvements, as user demands dictate.

Smart contracts also reduce the friction of tracking and compensating contributors. In each round of a bounty competition, as winners are rewarded, an iteration of a given solution is managed by tournament contracts. The provenance of an idea or work can be easily tracked, and can be rewarded fairly and publicly.

HowImage: Matryx.ai

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Suddenly, Bitcoin Breaks into UK Housing Market as Down Payment

It is a first for the UK that Bitcoin can now be used as a down payment in the property market. Co-living pioneer The Collective have announced that they will be accepting the digital currency as a deposit from prospective tenants.

They are also eyeing out rental payments in Bitcoin, but that will only be implemented later in the year.

It is the first time a UK property developer has opened its doors on the famous digital currency, stating that the demand actually came mostly from international customers.

The Old Oak

The Collective’s online booking form for its Old Oak living scheme, an ambitious co-living development with 550 rooms, will be accepting Bitcoin as a deposit on the flats.

The standard deposit is £500, which equates to about 0.148 at time of publishing. Additionally, with the volatile nature of Bitcoin seemingly holding back its ability to be utilized as a currency, The Collective has pledged “spot conversion,” which means it will bear any financial risk while holding the deposit, returning it at the original value when the tenancy finishes.

Expect it to be used for life’s essentials

The Collective’s chief executive and founder, Reza Merchant said of this bold move for the UK property market:

“The rise and adoption of cryptocurrency globally, particularly Bitcoin, is a fascinating development in how people store value and transact for goods and services worldwide. With many savers and investors now choosing and becoming more comfortable with cryptocurrency, people will expect to be able to use it to pay for life’s essentials, including housing deposits and rent.”

Indeed these are bold steps in the infant steps of Bitcoin’s walk to be an acceptable and usable currency, and for The Collective, there are barriers, but they are looking to be involved in breaking them down.

The Collective’s head of technology, Jon Taylor, said:

“One of the biggest barriers to the popularity of Bitcoin is making it more consumer-friendly, and we believe this will become established as an easy and convenient way to pay deposits.”

Private property tool

There have been many instances where private property owners have attached their whole price tag for their property in Bitcoin in the hopes of attracting buyers, as well as accumulating the valuable digital currency.

A well regarded Miami trader recently placed his house for sale in Bitcoin after first trying to entice the seller to buy it in the same digital currency back in 2014.