Telecommunications has always been at the forefront of embracing disruptive technologies to create new business models and revenue streams, but the TMT sector is yet to harness the full potential of blockchain technology. Within the telecoms industry, blockchain has the potential to make a significant impact on everything from interconnects, partner management, identity management and mobile payments, as well as internal improvements to operations and automation.
If you own any virtual currency, what will happen to it after you’ve passed away? Would your friends and family know what you owned? Or how to access the funds?
Our health is a very personal and private issue. Yet, in the past 12 months, according to the HIPAA, over 34 million patient records have been exposed to data breaches in the US healthcare ecosystem. Confidential health information, genetic data and financial details have all been stolen. The pandemic has also put the focus on the pharmaceutical industry and their security challenges to keep research and intellectual property safe as well as securing the supply chain.
Cryptocurrency space is maturing, India’s appetite for cryptocurrency is evident, as the country facilitates the highest recipient of remittances globally — more than $83 billion since 2018 every year. With the support of cryptocurrencies, the remittance market is anticipated to soar in India, with cheaper, more efficient methods of sending money.
Cryptocurrency is a fantastic way for people to invest their money in a technologically progressive and versatile way. However, it is also subject to considerable volatility and, as the IRS’s June announcement of a huge $2.3 million confiscation indicated, insecurity. Cryptocurrency and the regulation that surrounds it is undergoing vast change, with market forces changing on a whim every single month.
Over the past five years, blockchain technology has gone mainstream. More and more investors, businesses and opportunistic hobbyists are filling their cryptocurrency wallets with crypto assets like Bitcoin and Ethereum. In fact, the global user base of all cryptocurrencies increased by an estimated 190 percent between 2018 and 2020. There is undoubtedly money to be made, ushering newcomers into the world of blockchain.
“Never let a crisis go to waste.” It’s an expression that we’ve all heard a lot over the course of the last year. It is a reminder by Winston Churchill that in bad times that big problems often beget opportunities to do things differently — and better — next time around. No other industry as much as crypto has lived up to this quote.
Cryptocurrencies, once the exclusive domain of an idealistic fringe movement, have recently become attractive to mainstream retail investors. During the COVID-19 pandemic, the valuation of cryptocurrencies rose exponentially, reaching a market capitalization of over $2 trillion. Cybercriminals are always looking for the path of least resistance to make money and cryptocurrencies are now in their crosshairs.
Blockchains are not new – they have been around since 2008. A blockchain is simply a distributed database or ledger technology, which stores and manages files of information into groups of data – so-called blocks – which are cryptographically signed and linked together to form a chain. Hence blockchain. Each block also contains a record of exactly when it was created to produce a complete timeline history, which cannot be corrupted, lost or changed.