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December 5, 2020
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Bitcoin has been in news for different reasons since its origin in 2009. The virtual currency has seen its ups and downs in these years. Bitcoin enthusiasts term it as the future of digital currency. However, critics question its validity and functionality. Over the last decade, Bitcoin is becoming more popular. Before jumping to Bitcoin mining let us discuss Bitcoin.
Bitcoin
Bitcoin is the world’s first Cryptocurrency (Crypto). It is the most popular one as well. Crypto is a digital asset crafted to play its role as an exchange medium. A special computer database stores ledgers of individual coin possession records. In addition, the use of specific cryptographic codes ensures the security 
of all transaction records. Satoshi Nakamoto was behind the creation of Bitcoin. However, nobody knows whether Satoshi is a real person (persons) or a pseudonym.
of all transaction records. Satoshi Nakamoto was behind the creation of Bitcoin. However, nobody knows whether Satoshi is a real person (persons) or a pseudonym. Bitcoin is an open-source digital currency. It is not issued by any government or central banking agency. Above all, it is a decentralized currency that uses cryptographic language to record all transactions. Blockchain is the technology that makes Bitcoin function. Blockchain is a distributive ledger of all public transactions.
Now, let’s shed light on Bitcoin mining and the mechanism behind it.
Bitcoin Processing or Mining
Bitcoin mining
The creation of Bitcoin is the reward for the mining process. By solving complex computational problems formation of new Bitcoins occurs. Mining is the process behind the creation of this Cryptocurrency. You can buy, sell, and share Bitcoin among the users. In addition, you can also exchange the same with other physical currencies and virtual currencies.
Bitcoin mining process
Mining is a distributed or dispersed consensus system. The use of this is to acknowledge pending transactions. Blockchain includes all transactions. A Consensus is the job of realization of all processes that happens in a group. The task is to achieve an agreement on various explicit values. Above all, the votes or confirmation of each process is the basis of the values. Undisputed agreement occurs on values through a specific 
consensus algorithm. Therefore, it needs to get an undisputed agreement on some value. This sounds simple but involves too complex mathematical calculations. Bitcoin miners use high-end computing devices for this purpose. In conclusion, we can say, it is a kind of record-keeping facility.
consensus algorithm. Therefore, it needs to get an undisputed agreement on some value. This sounds simple but involves too complex mathematical calculations. Bitcoin miners use high-end computing devices for this purpose. In conclusion, we can say, it is a kind of record-keeping facility. To make Bitcoin mining occur miners use powerful computers. The computers deal with complex and complicated computational mathematical problems to solve them.
Is it secure
The process put in force a sequential order in the Blockchain. It safeguards the impartiality of the network. In addition, it also permits various computers to be in consent with the status of the system.
A block stores transactions and have a link with the next block. The transactions follow very stringent cryptographic rules. Above all, the entire network verifies each transaction. Crypto links join irreversible blocks. Alteration in any block will alter the connecting blocks and invalidated them. This is a standard rule not to change any previous block. Therefore, this ensures data security as nobody can alter it for their advantage. In conclusion, for any modification to happen all Bitcoin holders have to give their consent. It is not workable at all.
We hope, the content serves you to understand the basics of Bitcoin mining. We would discuss other related aspects of Bitcoin mining in future articles.
December 4, 2020
Blockchain technology is again in news for its application in ‘paperless’ trade. The Australian Border Force (ABF) is planning to use Blockchain in cross-border trade. It aims to make it simpler, quicker, and convenient. In addition, ABF is planning to start paperless trade with the Asian nation Singapore. The ABF is Australia’s customs and border protection agency.
On November 25th, ABF has announced the launch of this digital cross border trade. After that, the two leading business nations had signed an agreement on this behalf in August.
What is the Australia-Singapore Digital Economy Agreement (DEA)?
DEA is a path-breaking step. A global benchmark was set for digital trade rules and practical trade cooperation. The expectation is that it would shrink the obstacles to virtual (digital) trade. Above all, it would create an environment conducive for Australian businesses as well as customers. 
It would encourage the participation of Australian businesses and consumers in digital trade. Therefore, the aim is to bring them closer to a digital economy.
It would encourage the participation of Australian businesses and consumers in digital trade. Therefore, the aim is to bring them closer to a digital economy.The Blockchain trial run will end by early 2021. Moreover, a discovery report compilation of the learning from the trial is under the plan.
Highlights from the agreement and the new development.
- It would integrate paperless trading. Therefore, this means no more paperwork for each business dealings and activities. It would also contribute to the environment. In addition, it is a sustainable way of doing business.
- Promote secure digital exchange and sharing of trade information. Dissemination of information would be easier. Therefore, the sharing of critical information in a safe way is possible.
- Reduce hurdles lie in digital trade and promote a seamless trade environment. It would have a positive impact on business volume and dynamics.
- The Blockchain tryout aspires to trim down administration costs. Digital transactions would cut administrative costs. In addition, cost savings would be possible for traveling expenses. Above all, the technology would help in virtual meetings and conferences.
- It would create a better business culture that enhances trade efficiency.
- Help in sharing and exchanging electronic documents. These documents are safe to store and transfer.
In addition, the exchange of documents is possible in a very quick time. Therefore, the documents will be safe. There is no need for storing files in piles. Accessing any document will be a matter of a few seconds.
- It will test digital verification platforms for primary certificates of origin.
- It is a big step towards Australia’s plan for Single Window Trade facilitation in the future.
Bottom-line
In conclusion, the initiative by the Australian authority is good news for Blockchain fans. It would help both the Australian businesses and customers in diverse ways. It would boost the national economy in many. Paperless trading would have a positive effect on the environment. Australia-Singapore Digital Economy Agreement is going to transform the digital economy of Australia.
The digital economy is going to transform the business environment of Australia. Blockchain would enable quick transactions among a huge network of stakeholders. Transparency and security aspects would make transactions more acceptable. Exchange of business documents would be possible. Business houses and other concerns would not waste time on physical paperwork. Through Blockchain smart contracts would be possible.
December 2, 2020
Nouriel Roubini is one of the earliest financial experts. He predicted the 2008 financial crisis. He has very precisely predicted the economic ‘doom’ of the last decade. Roubini, a professor at New York University is mockingly known .as “Dr. Doom”. We know that economy fluctuates highly. It witnesses ‘boon’ and ‘doom’ periods. When the economy is flourishing it is a ‘boon’ and when it is slowing down it is a ‘doom’.
American economist Roubini becomes popular in media when his 2006 prediction becomes true. That year his prediction was on alarming US credit and housing crisis. He said this during his address at 
IMF. He also said that it may affect the global economy. In early 2018 his prediction of the financial crisis becomes a reality. Since that year, we are experiencing an economic slowdown throughout the world.
IMF. He also said that it may affect the global economy. In early 2018 his prediction of the financial crisis becomes a reality. Since that year, we are experiencing an economic slowdown throughout the world.Roubini’s comment on Bitcoin
He is in news recently for his remark on Bitcoin. According to him, this cryptocurrency is the number one manipulated asset to date. Bitcoin is suitable neither for institutional portfolios nor for retail investor’s portfolios. The value of the virtual currency is volatile. For him, it is not at all a currency. He renounces it as an accounting unit. There is no asset backing for this so-called currency. It is yet to become legal tender. You can’t use it to pay your tax. He supplements his opinion by citing Bitfinex investigation by US authority.
Crypto enthusiasts are rejoicing Bitcoin becoming the most valuable asset of 2020. It has left gold and silver behind it. But Roubini rejects the claim of Bitcoin as an asset. He further says that digital currency is not a scalable way of payments. He even blames Cryptocurrency as unsustainable. It uses a huge quantity of energy. It is polluting our environment in many ways.
Speculation is an inherent feature of Bitcoin. There is no dependable indicator to judge the Bitcoin movement. The price may skyrocket today and fall to the floor the next day. Manipulation is a regular phenomenon with it. Investing in it is worse than gambling. Nobody knows how it would behave in the future. 
No government or central authority is behind it. Amongst a lot of hype, there are a bunch of scams. Many illegal outfits are using Bitcoin for drug trafficking. He also blames Cryptocurrency exchanges. The liquidity of crypto exchanges is false and artificial. The exchanges manipulate data in their favor.
No government or central authority is behind it. Amongst a lot of hype, there are a bunch of scams. Many illegal outfits are using Bitcoin for drug trafficking. He also blames Cryptocurrency exchanges. The liquidity of crypto exchanges is false and artificial. The exchanges manipulate data in their favor.Conclusion
We can’t ignore Nouriel Roubini’s prediction. We know that it is too early to make any concluding remark on Bitcoin. But the points raised by him are very important. Since the launching of Bitcoin, it has been swinging up and down. In one way the popularity and acceptance of Bitcoin are increasing. Many large companies and banking institutions are embracing Cryptocurrency. Bitcoin has also been in the news for scams, fraudulent use, and illegal activities. So if you are into the Cryptocurrency world then be cautious. You need to understand it before putting your money in it.
December 1, 2020
Blockchain has found yet another application; this time in the city emergency services. Olsztyn has become the world’s first city to apply Etherium Blockchain. Above all, the city is considering the use of this technology for emergency services. It is using Ethereum supported SmartKey Technology to manage emergency services.
The city of Olsztyn, located in north-eastern Poland. It is a beautiful city and the capital of Warmińsko-Mazurskie province or Voivodeship. The estimated population of the city is 172214. 
Therefore, for city governments or municipalities the greatest challenge comes from providing emergency services. Emergency services include fire, police, emergency medical service, etc.
Therefore, for city governments or municipalities the greatest challenge comes from providing emergency services. Emergency services include fire, police, emergency medical service, etc. The city has finished its trial run recently that brings good results. According to Gustaw Marek Brzezin blockchain has a bright future in city management. Brzezin is the Marshall of the province.
Let’s discuss Ethereum Blockchain and SmartKey Contract.
Ethereum Blockchain
Ethereum is an open-source and decentralized Blockchain. The best feature is its smart contract utility. It is the world’s most used Blockchain. After Bitcoin, it is the 2nd largest and popular Cryptocurrency. The token of the Ethereum platform is Ether. Above all, the Ethereum-Bitcoin ratio of market share is one is to ten.
SmartKey Technology
SmartKey is a bridging technology that unites blockchain technology with physical assets. Therefore, this would be useful in various emergency services. It uses the smart contract feature of blockchain technology.
Leveraging Ethereum Blockchain for City Emergency Services
Blockchain has many inherent beneficial features. It can connect a huge number of users. In addition, it is transparent and decentralized. It has a smart contract feature. SmartKey technology is a bridge that connects technology with emergency physical assets.
SmartKey enables the emergency management team to connect with the local rescue teams. A smart device, 
Teltonika, establishes the smart contracts. Therefore, this results in the enhancement in the performance of the rescue teams. Technology affects rescue activates in many ways. Above all, it helps in the allocation of physical assets, quick action, and optimal use of resources.
Teltonika, establishes the smart contracts. Therefore, this results in the enhancement in the performance of the rescue teams. Technology affects rescue activates in many ways. Above all, it helps in the allocation of physical assets, quick action, and optimal use of resources.The technology enables a rescue team to act in the least time. In addition, the team has a clear picture of the state of the victims. Therefore, tracking down the location of a victim becomes easy. The whole process of rescue operation becomes easier. Transmission of messages or quick communication is another notable feature. Handling of information and critical data becomes easy. Above all, the coordination among the stakeholders of a rescue operation becomes stronger. These benefits would be useful for city governments. Therefore, they would be able to manage emergencies.
In conclusion, this leveraging of Ethereum Blockchain is a step towards making of Smart Cities. The futuristic smart city concept could become real by the use of this technology. IoT will make the result even better. The technology is going to be a panacea in the provisioning of city emergency services. The initiative by the Polish city is commendable. Many cities from around the world are going to follow this unique step in the future.