Some of the features to look for when looking for a blockchain on which to develop a dApp include decentralization, Source: https://www.cryptomorrow.com/2020/03/02/which-one-to-choose-for-developing-dapps-ethereum-eos-or-tron/
How Digital Signature and Blockchain Technology Can Help the Growth of Businesses?
Businesses today are quickly adapting to digital transformation. Whether it is something as simple as having a website or something as complicated as hosting applications over the cloud, business leaders are leaving no stone unturned to grow along with the evolving technology.
Inculcating digitization in business activities not only vouch for the proactiveness of the organization but at the same time lead to improved productivity and enhanced customer experience. From going digital to adapting to a cashless mechanism, organizations are gearing towards a whole new level of automation.
A major influence of the involvement of technology in day to day business operations has been the elimination of paperwork and replacing mundane arduous activities with automated tools. Sharing documents, papers, agreements, and getting them signed is fundamental to every business organization, and has become a bit complex in the business world during COVID-19 pandemic.
To date, all of these were done manually. Meaning that managers or employees would generate documents, sign them, and then send it to the other party. Upon receiving the document, the party would print the document, validate the same, and scan it back to the sending party. This process isn’t just consuming a great deal of time but also straining out energy from both ends. Not to forget the fact that manual processes are prone to errors.
We may take an example of CocoSign here. It does everything related to e-signature that a business might need to do.
Keeping all of this in mind, organizational leaders are now eyeing upon advanced tech to streamline the above process. The amalgamation of digital signatures and blockchain is an ideal example of the above.
Now, this is where we introduce the concept of digital signatures. But what are digital signatures?
What is a digital signature?
Unlike the traditional method of sending documents and getting them signed physically, digital signatures are powered as electronic signatures that can be accessed from any device and across the globe. Put simply, if you are the manager of a company sending an agreement say a sales agreement to a company named ABC. They can access and view the document online over the laptop or smartphone. In addition to the above, they can also sign the document electronically without having the need to print or scan them.
Softwares that allow you to sign digitally come with multiple choices starting with the ease to simply type your name, or draw a sketch of the signature or even upload a photocopy of the original physical signature. Either way, you are relieved of the need to manually sign the document.
But that’s not the only advantage of using digital signatures as a replacement for manual ones. When a document is signed electronically it gets stored in the cloud for easy access and quick management. Now anytime a change is made to the document, both of the intervening parties are notified about the same and an alarm is raised. This ensures that under no circumstances is the document tampered or the content compromised.
In legal offices where every paper holds as much importance as the other, digital signatures serve the need for security as well as simplicity. Considering the fact that all of the documents are stored in the cloud, it further eliminates the need to stack piles of paper. The turnaround time reduces and productivity increases.
This was digital signatures working alone. When this tech is fused with the blockchain technology, it further adds another layer of verification to the entire system. No doubt that e-signatures add authenticity to the document. With blockchain into play, organizational leaders can have much more flexibility over the document.
Ethereum, one of the most popular open-source platforms of blockchain technology is being used along with digital signatures. It adds am evidence to the document pinning the date and time when the document is signed. Leaders can easily gain access to the Ethereum public blockchain when faced with the need to confirm a document signature.
Additionally, blockchain also renders additional security to the document with encryption and protection protocols. The use of the hash algorithm makes it difficult to tamper a document without getting noticed. No wonder why the tech has garnered such huge attention.
Having said all of the above, it is pretty obvious that the fusion of digital signatures and blockchain technology will transform the way businesses validate agreements. If you are looking for a similar solution, contact a genuine e-signature service provider such as CocoSign.
3 Reasons Why Bitcoin Price Could Fall in Q4/2020
2020 has been a rollercoaster year for Bitcoin. The lockdowns caused by the coronavirus pandemic earlier in the year pushed the crypto lower by almost 60 percent. Its crash shortly followed an equally aggressive rebound that took its price up by 220 percent.
It is safe to say that Bitcoin is sitting in a profitable position so far into the year. The cryptocurrency’s year-to-date performance at 50 percent above zero stands taller than the one logged by traditional markets, including the US benchmark S&P 500 index.
But entering the fourth and final quarter of 2020, the Bitcoin market struggles with the prospect of paring a good portion of its yearly gains, if not all. Here are three reasons why the cryptocurrency risks trending lower in the session ahead.
#1 US Election Uncertainty
Bitcoin moved almost in tandem with the US equities at the end of the third quarter. So it appears, the cryptocurrency traders were waiting for further clarity on the outcome of the US presidential election in November. But even when polls showed that the Democratic contender Joe Biden might win the presidency, Donald Trump spoiled the outlook.
The incumbent US president said that he wouldn’t leave the oval office quietly over his suspicions of voter fraud. Investors took his statement to heart. They dumped stocks the entire September 2020 to seek safety in cash. Bitcoin, meanwhile, also dived by 9 percent in the month despite closing the third quarter in extremely positive territory.
The month of October expects Bitcoin and Wall Street indexes to stay choppy, if not bearish. The cryptocurrency could therefore revisit previous support levels near $10,400, $10,200, and $10,000 as investors move into the safety of cash. Meanwhile, traders with a long-term outlook could cap the downside momentum by buying BTC at local lows.
Another factor that would test the Bitcoin and Wall Street bulls is the rise in bad loans in the US.
The lack of agreement over the second coronavirus stimulus package is a cause of concern for the unemployed and small and medium-sized businesses. With economists expecting no stimulus until the presidential election, the market is liable to see a rise in mortgages, loans, credit, and rental crimes in the fourth quarter.
That could leave finance stocks–the backbone of the US economy–lower. And sooner, its losses could ripple through the Bitcoin market, as traders start offloading their profitable positions to cover their losses on Wall Street. It is–again–because of the correlation between Bitcoin and the S&P 500.
The US markets will keep trading under the risks of the second wave of coronavirus infections. In the absence of a stimulus, followed by threats of another round of business lockdowns, investors may be forced to back into risk-off assets, including the US dollar and government bonds.
Earlier through February until March, a similar sentiment had caused the Bitcoin market to crash lower. Therefore, not unless there is fresh aid available for the US economy, the cryptocurrency may get trapped in the coronavirus-led sell-off sentiment.
The bottom line is that stimulus and liquidity can save Bitcoin from getting anywhere below $10,000. Traders should watch the development on Capitol Hill for further cues. Until then, the risk of major downside moves remain.
President Maduro: Venezuela Seeks Opportunities To Use Cryptocurrency For Global Trade
- Venezuela’s cryptocurrency story continues as the country’s President Nicolas Maduro has presented new use cases.
- A recent report informed that the South American nation is studying the possibility of using digital assets in trades alongside the national Petro.
- President Maduro has presented new anti-sanctions law in the Constituent National Assembly. In a recent speech, he asserted:
“The anti-sanctions law is the first response to give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade, so that all cryptocurrencies of the world, state and private, could be used. This is an important project that is under development.”
- The news comes after Maduro suggested last year that his country could adopt cryptocurrency payments.
- Additionally, Venezuela signed a new tax agreement this summer that enabled the nation to start collecting taxes and fees in the Petro.
- A study reported by CryptoPotato revealed that digital assets already play an essential role in the country’s struggling economy. Venezuela’s intensifying financial crisis has catalyzed significant interest in cryptocurrencies as people seek opportunities to escape the devaluating national currency.
- The Bitcoin peer-to-peer volume exemplifies the growing interest in the primary cryptocurrency within the country. As per data from coin.dance, the BTC P2P volume on LocalBitcoins has been continuously surging in the past several months.
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