SHIPCHAIN IS CHANGING THE SHIPPING INDUSTRY

mintdice.com

When cryptocurrency first emerged in the form of bitcoin, it was mainly seen as a store of value and possibly a profitable investment. However, with time, it has proven to hold even more potential than the public expected.

Blockchain, the fundamental technology that powers most currently existing cryptocurrencies and tokens, is making its way across different industries. Some of these industries, including real estate, finance, education, and agriculture, have found incredible ways to solve pressing issues using blockchain. The latest to join the fold is the shipping industry. In this sector, ShipChain, a blockchain-based freight company, is building a name for itself.

To a large extent, the world is powered by e-commerce across borders, and without logistics, traders and their customers cannot ship goods. The industry has progressed considerably with time, in response to the growing population of people who need its services. In the United States alone, the shipping market was worth almost $1.5 trillion in 2015 and continues to grow.

Despite the years of continuous development, the shipping industry is still plagued by inefficiency, theft and a lack of transparency. There is also a network of brokers that makes business difficult and expensive for other shippers and carriers. To solve these problems, shipping companies are gradually turning to blockchain technology.

A new forum is known as the Blockchain in Transport Alliance (BiAT) has emerged for the development of new standards to tackle the shipping industry issues. The alliance hopes to revolutionize the way traditional shipping is done, through blockchain regulation and education.

Startups like ShipChain and shipping giants like UPS have already announced plans to join the alliance with hopes of being part of an industrial revolution that creates a better business environment.

Large corporations are also investing and partnering with other companies including startups, to create and experiment with new concepts along this line. One prominent example is the partnership between Maersk Line, the largest container-shipping corporation in the world, and IBM. Through this partnership, Maersk uses IBM’s blockchain service to make its cargo-tracking and documentation process more efficient.  

THE ROLE OF BLOCKCHAIN TECHNOLOGY IN LOGISTICS

In a recent interview, ShipChain CEO, John Monarch, stated that the logistics industry currently accounts for the highest rate of employment in the world. This is due to the increased rate of global trade over time. To keep up with this pace, the industry must find ways to incorporate innovation into its core structure. This includes the security measures taken to protect sensitive data on all Internet of Things (IoT) devices used within the industry. The structure of blockchain allows it to accommodate this extra layer of needed security through its encryption, distributed ledger systems ,and smart contracts.

According to Monarch, the technology has the potential to save stakeholders in the global trade industry anywhere from $50 billion - $500 billion annually. In addition to the above-mentioned solution, blockchain can also potentially improve other vital, yet currently inefficient areas in the industry like transparency, accountability and brokerage. The role of blockchain in the improvement of the aforementioned areas is highlighted below:

1. PREVENTION OF THEFT THROUGH ACCOUNTABILITY MEASURES

If there is anything that is certain to occur in the shipping industry, it is theft. In fact, the issue of freight theft is so bad that in the U.S., up to $30 billion is lost annually in the process, according to the FBI. As a result, sellers must raise their prices to make up for the loss, and this translates to more expenses for the consumers. Goods can cost up to 20% more than average rates in these cases, added to the losses caused by expenses due to broker fees.

Unfortunately, the way the industry is currently set up, there is very little accountability when goods are stolen. Ownership is highly distributed and the issue of who to hold accountable can be highly confusing. Since ShipChain’s blockchain functions in the form of a decentralized ledger that is tamper-proof, it is easier to view chains of ownership.

Blockchain networks also have no single point that they can be hacked from, since every user on a network, holds a copy of it. This can prove invaluable in the case of fraud and manipulation of records. In the case of theft, direct process links can be traced to find out which point was compromised and those responsible can be held accountable.

2. PROVISION OF IMMUTABLE TRACKING RECORDS

Blockchain technology can also provide a better way for traders and their customers to track their goods from one point to another. This is especially necessary where there are multiple stops between the delivery and collection points. Through this improved visibility, shippers can conduct business easily and convey important cargo-related information to other stakeholders.

The immutability of the Ethereum blockchain which ShipChain uses, ensures that once records concerning cargo are logged, those entries cannot be changed. Estimates pertaining to various costs and delivery time can be made easily and smart contracts can be used to conduct escrow as a result of efficient tracking. This saves time and resources that would otherwise go to the middlemen.

3. ELIMINATION OF INTERMEDIARIES

The logistics industry implements a vast network of intermediaries due to the complexity of its supply chains. These intermediaries control the industry by acting as facilitators between the shippers and carriers. Unfortunately, while their services are needed, the expenses incurred by both shippers and carriers on account of these middlemen, are huge. This results in unexpected price hikes for consumers. ShipChain reduces the activities and fees of middlemen by automating the supply chain and ensuring that shippers and carriers can deal with each other directly.

HOW DOES SHIPCHAIN WORK?

ShipChain allows users to conduct escrow on the Ethereum blockchain, using a smart contract. This contract can be duplicated and while the shipping operation will be logged on the main Ethereum blockchain, ShipChain has its own protocol which is a fork of Ethereum.

The startup’s larger partners will be able to run their own sidechains, off ShipChain’s protocol. Their system will also house an open marketplace which will connect shippers, carriers and other stakeholders.

To make it easier for anyone in the industry to use the service, the company will have its own open API architecture which can be integrated with freight management software. The entire supply chain is recorded from the starting point to final delivery in a way that is transparent and immutable.

As soon as an order for a shipment is placed, a smart contract which includes delivery information and unique signatures for that shipment is initiated. This contract cannot be completed until final delivery is made. Users who hold valid copies of the information will have the ability to confirm the validity of the contract on the Ethereum blockchain. Depending on preference, the information can also be stored on a sidechain.

FINAL THOUGHTS

It goes without saying that the future of the shipping industry may lie heavily in blockchain. Even in these early developmental stages of the technology, it is apparent that it may hold the key to efficient supply chain management. Although moves are being made to change the industry, there is a lot of work that needs to be done. The currently existing infrastructure is a breeding ground for fraud, theft as well as loss and it will take the joint effort and commitment of several large players to change it. This is because the global shipping industry is so connected through trade.

If done properly, the industry may give up its crumbling architecture and embrace a new, more efficient blockchain-driven future. As it stands, startups like ShipChain are leading the charge on those grounds by creating and testing new and exciting logistical applications of the technology.

Original Post: https://www.mintdice.com/blog/shipchain-blockchain-is-changing-the-shipping-industry

How to Hire Someone with a Growth Mindset

vervoe.com
by Omer Molad, making hiring about merit, not background | Co-founder and CEO of Vervoe

The growth mindset theory was brought to prominence by Carol Dweck, a Stanford psychology professor, and in simple terms it suggests that “we can grow our brain’s capacity to learn and to solve problems”.

Rather than labeling people as smart or not, musical or not, good at math or not, talented or not, and so on, Dweck argues that with effort we can learn how to improve in every area.

After failing a biology exam, a student with a fixed mindset will muse that she isn’t good at biology, she isn’t a good student and she is a failure. The only logical conclusion from here is therefore to quit and the resultant emotion is likely to be self pity. This student is a hostage to her own perceived limitations. She has become the grade from her exam. She is a failure.

Conversely, a student with a growth mindset will conclude from the failure that she didn’t study enough or didn’t use the right study methods. She does not label herself as a failure. Rather, she sees the exam as a failed effort, learns from it and adapts, thus becoming stronger.

It’s not easy being the smartest person in the room your entire life and then one day failing. This is the critical juncture. Am I a failure? Or did I encounter a scenario where I didn’t work hard enough or well enough? Do I need to change my approach?

The first conclusion – I’m a failure – is disastrous because we believe that our ability is capped and it leads to despair. The second conclusion – I can improve – leads to hope.

The world is not necessarily divided into people with fixed and growth mindsets. Even the most frequent adopters of a growth mindset can find themselves in a fixed mindset sometimes. But some people consistently approach life’s challenges with a growth mindset.

Such people are on a journey of continuous improvement and, as a result, are more likely to achieve their goals. In fact, they are likely to move the goalposts altogether. They won’t give up as easily, they will find a way to solve complex problems, they will teach themselves new methods and they will value effort, determination and improvement over any talents they perceive to have been born with.

They will find a way to win rather than believing that they are simply a winner or a loser.

Here’s how to hire them.

Article related: https://namastenourished.com/growth-mindset/

Four Ways to Hire Someone with a Growth Mindset

Going to the Next Level

Professor Dweck worked with a baseballteam to identify draftees with a growth mindset. Prospective draftees were asked what they would have to change in order to be successful at the top level.

Recruiters were looking for people who acknowledged that they’d need to improve most of their skills because this demonstrates an understanding that abilities can be developed.

This question can easily be modified to suit a company setting.  Just ask candidates what they would need to do to be successful in a role that is one level up from their current role.

Dealing with Failure

Ask candidates about a time when they didn’t get an outcome they wanted. It doesn’t have to be linked to their careers – it can be anything like a grade at school, an application that was refused or a poor showing in a sporting competition, to name a few. Then ask what their conclusion was. Why did they fail? What did they learn? What did they do next? Look for attempts at improvement based on greater effort or a change of approach.

The Musician Test

Ask candidates what it would take for them to become really good saxophonists. This should be a multiple choice question. One answer should be along the lines of “a good teacher and lots of practice” and another should be something like “hell to freeze over, it will never happen”. The idea is to determine whether candidates think they can develop skills in an area that they previously had none.

Labeling

Give candidates a number of scenarios and for each one ask them to choose between two phrases that describe how they feel about the outcome. For example, if the scenario is “you came fourth out of eight in a race” then the two phrases could be “too slow” and “need to speed up”. If the scenario is “you got 58 is the biology exam and 83 in the literature exam” the two phrases could be “better at literature” and “didn’t study effectively for biology”.

The first phrase in both scenarios effectively labels the candidate as a success or a failure, as good or bad at something. This implies a fixed mindset. Conversely, the second phrase in both scenarios implies a belief in the ability to improve.

Hire for Growth

Hiring people with a growth mindset means that, instead of hiring fixed talent, you are hiring people who will become more and more talented over time. Improvement in your company will therefore be continuous. Once you know what to look for, hiring people with a growth mindset is not necessarily difficult.

Professor’s Dweck’s growth mindset theory is applicable to sport, parenting, relationships, education and work environments of every kind. It’s okay to call yourself an expert. If we don’t believe that we can improve then we almost certainly won’t. But there is enough evidence to suggest that if we make an effort to improve our skills, and try new methods, then we will.

It’s a choice between believing that we are stuck with fixed abilities and believing that we can improve our abilities with effort and the right strategy.

Original Post: https://vervoe.com/blog/how-to-hire-someone-with-a-growth-mind

Related article: what makes a good employee

FEBRUARY CRYPTO HIGHS AND LOWS

mintdice.com

The first week of February was marked by heavy downward movements for many digital currencies. However, the middle of the month saw some recovery, leading up to surprising bull runs in the fourth week.

Bitcoin: Just like January, BTC mostly traded below $4000 throughout February. It had a weak first week, with a monthly low of $3,431.34 on January 8. However, it saw a strong fourth week, recording a monthly high of $4,208.75 on January 24. In total, Bitcoin saw a monthly increase of 8.4% from a starting price of $3,494.62 to a current price of $3789.15. Despite having a better monthly performance than it did in January, the price of BTC was lower in February.

Ethereum: After falling into third place on the list of cryptocurrencies by market capitalization, Ethereum quickly made its way back into second place. Like other cryptocurrencies, ETH had a weak first week, with a monthly low of $107.91 on January 6. The same cannot be said for its fourth week, in which it recorded a monthly high of $165.67 on January 24. Overall, ETH saw a 23.17% monthly increase from a starting price of $110.02 to a current price of $135.52.

Ripple: Back in third place by market capitalization, XRP had a poor first week as well, with a monthly low of  $0.297221 on January 8, and a monthly high of $0.343317 on January 19. Overall, XRP saw a monthly increase of 1.5% from a starting price of $0.310726 to a current price of $0.31546.

DOMESTIC CRYPTOCURRENCY NEWS:

FORMER GOLDMAN SACHS EXEC JOINS BLOCKCHAIN FOCUSED HEDGE FUND

Marco Lim, the former Goldman Sachs executive who has also served at Credit Suisse, Deutsche Bank, and Forex Capital Markets, has been appointed as a managing partner at MaiCapital, a blockchain hedge fund based in Hong Kong. According to his LinkedIn page, Lim has accumulated years of foreign exchange sales experience, which he will bring “to further develop the company.”  According to Co-Founder and Managing Partner at MaiCapital, Benedict Ho, “Marco will focus primarily on marketing and establishing strategic partnerships for MaiCapital and its group companies. His long-standing investment banking relationships and market experience should bolster MaiCapital’ leading position in the digital asset management space.”

ACCENTURE WORKS WITH MASTERCARD, AMAZON TO BOOST CIRCULAR SUPPLY CHAIN USING DLT

Popular professional services firm Accenture has announced that it is currently working with global corporate giants such as Mastercard, Everledger, and Amazon to launch a blockchain-based circular supply chain. Accenture is no stranger to blockchain and intends to integrate it with its existing supply chain model. According to the company, the project is geared towards improving environmental sustainability, and the technology will be applied to all levels of the supply chain. The new supply chain will give customers the opportunity to find small-scale growers and suppliers, and earn rewards for making direct payments. This will reduce waste, and improve inventory management as well as transparency. According to David Treat, managing director and global blockchain lead at Accenture, the application of this technology in supply chains gives the business industry a new perspective on how they can be managed.

MERCEDES-BENZ TO USE BLOCKCHAIN TECH FOR SUSTAINABLE TRANSACTION BOOK, SUPPLY CHAINS

Like Accenture, Mercedes-Benz, the German automobile giant has created a blockchain platform aimed at increasing transparency in global supply chains. In partnership with Icertis, a US-based software firm, Mercedes-Benz has already developed a prototype of the technology, which allows users to store documentation and contracts within supply chains and the pilot project is already undergoing testing. According to Wilko Stark, a member of the divisional board of Management Mercedes-Benz, "Blockchain technology has the potential to fundamentally revolutionize our procurement processes [...] With our Blockchain-prototype, we are in the first step testing one of diverse possible applications with the aim of increasing transparency beyond our direct suppliers."

The first week of February was marked by heavy downward movements for many digital currencies. However, the middle of the month saw some recovery, leading up to surprising bull runs in the fourth week.

Bitcoin: Just like January, BTC mostly traded below $4000 throughout February. It had a weak first week, with a monthly low of $3,431.34 on January 8. However, it saw a strong fourth week, recording a monthly high of $4,208.75 on January 24. In total, Bitcoin saw a monthly increase of 8.4% from a starting price of $3,494.62 to a current price of $3789.15. Despite having a better monthly performance than it did in January, the price of BTC was lower in February.

Ethereum: After falling into third place on the list of cryptocurrencies by market capitalization, Ethereum quickly made its way back into second place. Like other cryptocurrencies, ETH had a weak first week, with a monthly low of $107.91 on January 6. The same cannot be said for its fourth week, in which it recorded a monthly high of $165.67 on January 24. Overall, ETH saw a 23.17% monthly increase from a starting price of $110.02 to a current price of $135.52.

Ripple: Back in third place by market capitalization, XRP had a poor first week as well, with a monthly low of  $0.297221 on January 8, and a monthly high of $0.343317 on January 19. Overall, XRP saw a monthly increase of 1.5% from a starting price of $0.310726 to a current price of $0.31546.

BITFINEX’S STOLEN FUNDS PARTIALLY RECOVERED AND RETURNED BY US LAW ENFORCEMENT

Bitfinex announced in a Medium post that United States law enforcement has successfully recovered and returned part of the funds stolen from the platform in August 2016. About 27.7 Bitcoins (BTC), were returned, and the company has already begun converting them to dollars and paying affected accounts. Bitfinex made headlines in 2016 for a hack in which about 120,000 BTC was stolen from the exchange.

Shortly after its occurrence, the exchange generalized the losses and spread them across all accounts. Every affected account was credited with one BFX token, for every dollar lost, which users could redeem for one dollar or Bitfinex stocks. For those who chose stocks, their BFX tokens were destroyed and replaced with Recovery Right Tokens (RRTs).

TWO COMPANIES USED CRYPTO TO PAY TAXES IN OHIO

According to state Treasurer Robert Sprague, two Ohio-based businesses paid taxes using Bitcoin, making Ohio the first state to accept business taxes in form of cryptocurrency. Ohio has been looking to attract blockchain businesses, and this move is likely geared towards that goal. Sprague clarified during a forum that the state does not accept any currency except the US dollar. However, businesses are allowed to deposit BTC on the payment platform, which converts it to USD. The statement read: “We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”

INTERNATIONAL CRYPTOCURRENCY NEWS:

BLOCKCHAIN POST-TRADE PLATFORM VAKT PARTNERS WITH MAJORITY OF NORTH SEA OIL MARKET

Prior to its official launch, Vakt, a blockchain-based oil post-trade platform has announced the signing of four new clients. The new clients include major oil players that have backed Vakt at some point, such as Shell, Total, Gunvor and Mercuria. Vakt is also backed by other major investors like Equinor, Chevron, and Reliance Industries. This move will give Vakt usage of more than 60% of all oil deals in the North Sea region.

According to a statement by Etienne Amic, Vakt’s recently appointed CEO, blockchain adoption within the energy sector may encourage other sectors to adopt its applications. The statement reads: “We felt that we needed about 60 to 70 per cent of a market to reach ignition point [that would] incentivise other people to join.” Also included in the announcement: the company plans to expand its reach within Northern Europe and the United States.

SWISS BANKING GIANT JULIUS BAER TO OFFER ITS CLIENTS CRYPTO ASSET SERVICES

Swiss bank Julius Baer is partnering with Seba Crypto, a blockchain startup for which it is a minority shareholder, to offer its customers access to digital currency services. However, the partnership will not be effective until Seba Crypto receives a securities dealer and banking license from the Swiss Financial Market Supervisory Authority.

Once effective, the partners will provide services such as digital asset storage, as well as transaction and investment solutions. The announcement also discloses that the banking giant has been a minority shareholder of Seba since last year. In September 2018, Seba Crypto raised about $100 million for this purpose, and during the same year, Julius Baer reportedly had about $381.6 billion in assets under management.

JAPANESE MULTINATIONAL HOLDING SOFTBANK ANNOUNCES BLOCKCHAIN ID WORKING GROUP

According to an announcement by SoftBank Corp., the Japanese multinational holding conglomerate is partnering with TBCASoft, an American telecoms-focused blockchain firm, to create a digital identification system under the Carrier Blockchain Study Group (CBSG).

CBSG was founded in September 2017 as a global consortium of telecom carriers with ties to blockchain. Its founding members include Far EasTone and Sprint. The system, known as CrossCarrier Identification System (CCIS), will be developed by TBCASoft. It will use blockchain technology and other cryptographic methods to cut out external parties from the verification process while protecting user data.

UKRAINE COMPLETES PILOT SCHEME FOR E-HRYVNIA NATIONAL DIGITAL CURRENCY

The National Bank of Ukraine (NBU) has completed the pilot scheme for its official digital currency, known as the e-hryvnia, which the country has been considering for about a year. According to Aleksandr Yablonovskiy, the head of NBU payment networks and innovative growth department, the pilot was used to assess the practical use of the concept as well as gather feedback. The project is aimed at making a change in the Ukrainian system, which relies heavily on cash payments.

SOUTH KOREA’S COINBIN FILES FOR BANKRUPTCY WITH $26 MIN LOSS, CITIES EMPLOYEE EMBEZZLEMENT

While still owing users almost $30 million, popular South Korean cryptocurrency exchange Coinbin is filing for bankruptcy. The exchange, which took over Youbit exchange after its hack, is reportedly leaving its users hanging and closing all its operations due to embezzlement by a senior executive. The executive known as Lee reportedly stole the private keys of hundreds of BTC wallets, and about $26 million is still reported missing. According to a statement by CEO Park Chan-kyu, “We are preparing to file for bankruptcy due to a rise in debt following an employee’s embezzlement.”

Customer Satisfaction Survey Questions to Learn About Your Customer Base (Infographic)

nextiva.com

If you’ve ever been asked to rate a service that you just received or describe the level of ease/difficulty in navigating a website then you have taken a customer satisfaction survey. These surveys are used to figure out where a company is failing or performing inadequately so that it can take self-corrective measures.

It’s important that this is done before negative PR circulates or several customers have bad experiences with your company. Working proactively to resolve any discrepancies or issues can save 91% of unsatisfied customers you could turn away with subpar practices.

If you conduct some or most of your business online, it’s critical that you optimize your website and user experience. The majority of consumers will move on to another site if yours offers any hindrances to quickly and satisfactorily achieving their needs. A simple yet useful question you can ask is “How easy was it to find what you were looking for on the website?”

Your marketing strategy also plays an integral role in the success of your business. In order to gauge whether or not your advertising content is successful, simply ask customers which communication channel they’d prefer you to use. Multiple types of content is important to nine out of ten consumers, so your media strategy is essential to driving sales.

Nextiva researched the best survey questions to ask. Check out the infographic below to learn how asking greatquestions can ultimately improve your customer retention rate and profit.     

                      

HIVE BLOCKCHAIN: THE FUTURE OF MINING

mintdice.com

As the world of blockchain continues to undergo rapid development, several companies have come into the limelight. While it may be difficult to separate the wheat from the chaff where investment is concerned, some companies clearly stand out. One of such companies is HIVE Blockchain, a mining firm that seeks to bridge the current gap between capital markets and blockchain innovation.

Through the creation of multiple cryptocurrency mining farms, they hope to conquer the mining space. Each farm has been strategically placed and filled with equipment as well as miners who continually work to validate and secure transactions on various blockchain networks.

Apart from being one of the top blockchain stocks, HIVE is currently the largest and farthest-reaching blockchain infrastructure company. Despite its age, the firm has made our list of blockchain stocks to invest in for several reasons and has positioned itself in the industry as one to look out for.

A BRIEF HISTORY

Genesis Mining, one of HIVE’s parent companies, was founded by Marco Streng and a team of early Bitcoinadopters and is currently one of the world’s largest mining corporations. It is considered a global leader in the field and has created several products to advance mining.

Only two years after the first large-scale Genesis mining farm was developed in 2014, the company went ahead to establish the world’s largest Ethereum mining operation.

Genesis Mining also launched the Logos Fund which serves top venture capitalists and has raised more than $100 million in assets since its creation. The firm currently caters to more than 1 million customers and employs hundreds of staff all over the world.

Since the creation of HIVE by Genesis and Foire, the company has successfully raised up to $115 million in funding. According to recent announcements, it is also set to expand its mining operations and capabilities. These expansion efforts include a new large-scale mining facility and up to $100 million in extra funding.

HIVE Blockchain also became the first publicly traded stock on the Canadian TSX venture exchange (a major stock exchange, that solely deals in cryptocurrency mining), which it was added to in September 2017.

THE INTENDED PURPOSE OF HIVE BLOCKCHAIN

Founded in 2017 through a partnership between Genesis Mining and Foire Group, HIVE Blockchain was created for the sole purpose of accelerating and amplifying the development of the industry. It currently carries out mining operations for up to eight different cryptocurrencies including Bitcoin, Ethereum and Litecoin.

Although there are a lot of blockchain firms to invest in, only a few focus on infrastructure. This limits investment options in that particular area, leaving investors on the sidelines, where they miss out on a technology with so much potential.

Genesis and Foire recognized this problem and created HIVE as a solution, which would give investors the opportunity to stand firmly behind blockchain infrastructure. Not only is this profitable for investors, but it’s also beneficial to the industry as a whole. Without proper infrastructure, there is only so much blockchain technology can do to influence other industries.

The applications of blockchain technology are made possible by mining. In essence, this is a term used to describe the process of securing a network through consensus and validation of all transactions on it. It is carried out by a distributed network of computers and is typically done for any of the following reasons:

• To ensure that only valid transactions are recorded on the blockchain (an immutable digital ledger which powers the network in question).
• To ensure that a log of all transactions is continuously updated.
• To earn block rewards (payouts), which in turn ensure distribution of tokens on that network.
• To maintain trust and integrity among all nodes within the system.
• To decentralize the process of making financial transactions. Where normally, user transactions would have to be facilitated, validated and recorded by a central authority with rights to user data (such as a bank), miners would play this role instead.

For infrastructure to undergo the necessary development, investors must be involved as drivers of the ecosystem.

WHAT HIVE BLOCKCHAIN ACTUALLY DOES

HIVE Blockchain is leveraging the wealth of experience that Genesis Mining Group commands, to create and maintain the infrastructure that blockchain network users can benefit from.

It operates as a cryptocurrency mining firm and validates transactions on blockchain networks. It also provides cryptocurrency mining services and bridges any gaps between digital currency markets and their traditional counterparts.

WHY IS HIVE BLOCKCHAIN IMPORTANT?

The importance of HIVE blockchain as a core driver of infrastructure lies in its promotion of blockchain development and sustenance. Since this technology is central to the concept of most cryptocurrencies, they will cease to exist without the necessary infrastructure.

Since the Bitcoin hype began to die down, people started realizing that its underpinning technology can be used for much more than just storing monetary value. This is just one fish in a sea of blockchain use cases. If developed and used correctly, this technology can disrupt almost every global industry in the world, from real estate to health, agriculture, shipping, and even art, making life easier for people and businesses. For this to happen, infrastructure must be solid and this is why companies like HIVE are important parts of the ecosystem.

The HIVE team’s understanding of capital markets combined with the technical knowledge of Genesis Mining gives investors a chance to view the industry in a different light and approach it more strategically. More importantly, they can be a part of the creation of something new and phenomenal. Many investors missed the chance to be a part of Bitcoin in its early days but now, they are presented with a new opportunity to be part of something even bigger.

HIVE AND THE FUTURE OF WEB 3.0

Currently, HIVE mining computers work to generate and hold cryptocurrency as part of the company’s long-term investment strategy. This exposes investors to its portfolio of digital currencies as well as the operating margins of mining.

Blockchain technology is still growing at a rapid pace and is set to evolve outside of financial solutions in the near future. There is a possibility that this evolution will give way to a new decentralized future that HIVE refers to as ‘web 3.0’. According to the firm “Our vision is to truly be the backbone of this new web 3.0 decentralized world by building, operating, and acquiring the critical infrastructure that will be required to power it.”

FINAL THOUGHTS

Blockchain investment is a topic that comes up more often than it seems and there are so many options to choose from. However, investors should have a strategy for profitable and long-term stock benefits. For an industry that still exists in its early stages, merely choosing any random project to invest in, just won’t cut it and may end up leading to a loss of funds.

When investing, the projects with the most viable use cases should typically get top priority and what better use case is there for blockchain than its own sustenance through the development of infrastructure? Probably none. Apart from the fact that HIVE blockchain makes infrastructural investment more accessible to investors, it is backed by two credible companies.  

Most blockchain systems cannot function without the mining process so it makes a lot of sense to invest in that area and be part of something that may change the world, possibly in more ways than the internet ever did.

Original Post: https://www.mintdice.com/blog/hive-blockchain-the-future-of-mining