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Another electronic cash follows white paper of Bitcoin

  • The problems that Libra and Facebook are facing right now can be traced back to the roots of Bitcoin, with in-depth study of the tech’s original white paper by Santoshi.

  • The whole idea is to achieve “electronic cash” without the barriers of identification as it would be in a completely decentralized system.

  • However, centralization is required in order to regulate criminal activity including money laundering and counter-terrorism objectives, so the contradiction still prevails.

Satoshi Nakamoto worked on Bitcoin to solve one of the biggest problems of online commerce; bringing the same offline experience of handing over the cash to make a transaction into the online realm. This means that the whole concept of this currency revolves around the fact that identification is not required for transactions between anyone.


The issue isn’t that only money launderers use cryptocurrencies to have some leverage against laws. But it is a fact that the necessity of identification is a hindrance in routine commerce. The identification process comes with an expensive trade-off which means economic activity is either lost or delayed.

Privacy is of Utmost Importance

There are millions around the world that are unable to acquire accounts even in local banks due to untrustworthy or not-eligible backgrounds or identification records. What about when they want to participate in commerce? Identification is a real barrier for them. And Bitcoin sought to solve this problem.

On the other hand, the elite of “Wall Street” and other commerce tycoons like giant banks and brokerages have to keep their identities secret whenever buying to selling a share in order to not let the market move against them.

Moreover, the lesser the past of the involved money is known, the more beneficial it is e.g. a questionable source’s money has less value than regular money, which is why Bitcoin aims to keep the value of every coin the same across the board.

Private but with a “public” ledger

It is unfortunate that with the dream of privacy, Bitcoin could not achieve that very aim as it consists of a public ledger. The problem is that once a user is identified, they can easily be traced back and connected with past transactions.

This problem resulted in more secure and privacy-oriented cryptocurrencies being developed including Zcash, Monero, and Mimblewimble.


The regulators are demanding more user identifying aspects in the technologies being developed for cryptocurrency, yet the developers are moving completely against it and striving for complete privacy i.e. electronic cash in all its glory.

To Centralize or to Decentralize?

The issue is that due to part centralization and permissions, it is impossible to achieve the level of privacy dreamt of as the goal. If the endpoints that are maintaining the ledger are traced back to authorized validators such as the Libra Association’s 28 members, there is no doubt that the authorities will demand identification when they suspect something fishy going on in transactions.

Facebook’s David Marcus had to swear that Facebook’s Libra application, Calibra, would comply with KYC requirements and cooperate with anti-money laundering initiatives. These types of identification requirements are necessary for terms of counter-terrorism objectives as well as for controlling the population. And in that essence, the technology is “centralized” according to Santori.


Now the contradiction arises. People are especially concerned about user privacy including lawmakers. Privacy and protection of personal user data have always been a prime concern of Facebook. The idea here was to not let any member invade the privacy of any user. And in that essence, the structure is advertised as “decentralized”.

But even though this is a contradiction, it doesn’t persist in Bitcoin or other similar cryptocurrencies.

The answer…

It is impossible to maintain absolute user privacy while demanding the power to interfere in transactions whenever required in order to monitor and regulate the criminal activity.

The answer lies in the integration of different technologies and system designs that make use of more creative approaches in order to detect and regulate a criminal activity.

And until this design is achieved, we have no choice but to hope for a better cryptocurrency being developed out there.

For more information, you can go check out Satoshi Nakamoto’s original white paper to know in detail how Bitcoin works. You can even choose to read the white paper in a language of convenience.

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Finance Line

5 ‘SURE Signs’ to quit your full-time job and start Your Business!

business benefits

  • You have sufficient savings in your account to support yourself for a few months.

  • You have a Back Up plan up your sleeve in case things don’t go as planned.

  • You have analyzed all the pros and cons of business benefits after discussing your ideas with your colleagues or friends!

The 5 KEY facts assuring you’re ready to leave your full-time Job and start a Business!

Let’s start here. You have a side hustle and you’re having a full time job alongside. You want to grow your side hustle and you’re hesitating because of the lack of time! You can’t focus on to scaling the either two. Now here comes the turning point of making a decision to leave one. Knowing the right time to LEAVE your full time job and shifting to your side business is a RISKY leap. You may end up successful, or not as much. You may dive into the target milestones or lose a quality client. Here are a few SURE signs you should keep in mind PRIOR to leaving your ‘reliable income’ and achieve Business Benefits.

Jump To

Your Side Hustle makes a reliable income:

How much money is made from your side hustle? Is it just fair enough to last a week? Will it help to support yourself for a few months? These answers should be analyzed before taking the FROG leap! A fair amount of savings that will last you for more than a few months is OKAY! Though you must focus on more in order to minimize the risk. Once done, you’ve achieved the basic step to scale up your business.

You have Sufficient Savings!

Along with that, your expenditures play a VITAL role into calculating how much savings you have and how much you spend. Again, this might depend on your circumstances! You must have sufficient savings to last you a few months, being jobless. Considering freelance or a part-time job after quitting is a wise decision to not stop a reliable income. More money makes no sense if you spend all within a month. So spend wisely once you’re up to support yourself!

business benefits

Source: DNA India

Lack of Time to Scale Up your Business:

On a serious note, you are considering to scale up your business but cannot do so due to lack of time! This is important as one might take a HUGE risk while taking non-serious measures and may face great losses afterwards! First you are to analyze your scale ground and a threshold to initially meet. Analyze the pros and cons. Take notes of all the possible measures. Consider whether the business benefits are up to the mark or not! Then CONSIDER the decision to leave your full-time job.

Plan B: The Back Up Plan

You have a plan B in case this doesn’t work out. Brainstorming over the idea with your colleagues or closed ones is a good idea. Brainstorming often helps you in identifying the loopholes of your ideas. You can have freelance or a part-time job as your backup is a wise decision instead of crying over the loss. Get up, put yourself together and get going again!

business benefits

Source: ViVu

A Satisfied attitude of being ready:

After check marking all the above listed facts, you come to conclusion of being ready! You have a positive feeling towards your growth. You can see it! You have listed down your milestones to achieve and analyzed them well. Here is when you know you’re up for the challenge. You have a backup plan in case It doesn’t work out. You have the option to freelance or a part-time job is up your sleeve. You bank balance is sufficient to support you. You’re ready to start on the road to entrepreneur-ism!

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Environment Pledge: Cut Off On Luxuries To Save The Planet From Climate Change

environment pledge

Today’s luxuries are tomorrow’s necessities and to afford those necessities a lot needs to be compromised. The efforts one put in to provide oneself with all the luxuries, has an impact not only on his life style but also on the surroundings and the environment as a whole. To save an environment pledge from negative impact of activities at individual level is important to achieve global goals.

Travelling across the borders, getting yourself expensive items, luxury cars, keeping your house warm, centrally air conditioned buildings, all these activities have an impact on environment, one way or the other. Travelling a lot needs more fuel to burn, which means an added volume of greenhouse gases into the atmosphere, ultimately adding to your carbon footprint. The more the luxuries you provide yourself with, the more you add to your carbon footprint.

The poor suffer the most from climate change although they contribute least to the climate change and have lowest carbon footprints. The carbon footprint calculated of the richest 1% is 175 times greater than the poorest 10% in the world, as is estimated by Oxfam.

Therefore, it is debated that rich can contribute to a great extent to alleviate the worsening climate conditions. Following are some ways how they could have an effect.

Expend Smartly

The way the rich spend money has greater impact than the way the poor do. Bigger bank balances may help the rich to have flexible ways to spend their money and invest in environment friendly products. By altering little the way they live, rich can bring a great change and slow down the climate change.

It is easier for the wealthier people to pay for the products that are climate friendly. Consume new sustainable items in trial phases to build their market. Switch to renewable and sustainable energy sources for example, utilizing the solar energy and setting up solar panels for their electricity needs, avoid travelling if not necessary to save fuel as flying accounts for more than half of one’s carbon footprint.

Smart Investment: Divestment

Wisely investing the money in industry having less harmful impact on climate, rich people may bring about a positive change. Withdrawal of capital investment from industries that have bad influence on environment is termed as divestment. Contrary to the past, the trend is shifting from investing in fossil fuel industry to environment friendly sector.

environment pledge

Green News Ireland

Those who promised to divest from fossil fuel include 59, 000 wealthy individuals and 1, 100 such organizations working in collaboration with environmental activist groups. There is also an ongoing online campaign to promote this trend with the name DivestInvest.

The charitable organization of influential Hollywood actor Leonardo DiCaprio has raised $100 million to fight against climate change. He assured on his and his organization’s behalf to divest from fossil fuels. Likewise, there are many other well off people including the 22 from the Netherlands who vowed to divest their capital from oil and gas sector.

This disinvestment trend may prove to be useful in the longer run as the investors who do not have environmental concerns follow the investment inclinations of influential investors.

Money means Influence

Where poor can do a very little about sustainability and bringing about a change regarding climate conditions, rich not only have wealth but they also have political influence to initiate some positive climate policies.

Wealthy people by using their social links and power can approach lawmakers and give funds to political parties to introduce environment friendly policies.

Charity Funds for Climate Research

Research and development for clean and sustainable energy requires a lot of investment and fund. The wealthy can support monetarily to such research and development. A few months back, some scientists unanimously wrote to affluent families and environmental activist groups to increase the funds to fight against climate issues.

In 2015, Bill Gates contributed with some $2 billion for research and development for clean and sustainable energy.

Similarly, organizing some band aid concerts can significantly contribute in collecting funds to deal with menace of climate change; in order to environment pledge.

environment pledge


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Finance Line

Technology in vain? Two Stanford Dropout Startups in San Francisco

startups in san francisco

  • Boxed started utilizing Brex card a year prior to fee for things.

  • Both Stanford dropouts are founders of Brex.

  • Things ought to be dismal, with innovation’s greatest organizations enduring from controllers, legislators and president.

Pedro Franceschi and Henrique Dubugras, both Stanford dropouts, are founder of Brex, which is the hottest new companies today. Then thought came about the startups in SAN FRANCISCO, which provides charge cards for startups. Things ought to be dismal in Silicon Valley at the present time, with innovation’s greatest organizations enduring from controllers, legislators and President.

Mr. Dubugras thought that on the off chance that they needed to assemble what other individuals need. He was talking from Brex’s new startups in San Francisco.

Brex new businesses brought $55 billion up in funding in six months, since 2000. Also, a developing group of these organizations is prospering by taking into account a quickly developing business sector.

There are some of Brex imitators. Also, there is an Interprime, that helps new companies deal with their money. Kanishka Maheshwari, originator of Interprime, said that new companies are extraordinary as they help for feedback.


Brex’s started with Mr. Franceschi and Mr. Dubugras were upraised. At the age of 12, Mr. Franceschi picked up disrepute for jailbreak iPhones.

In 2015, these guys went to Stanford College. Studying in Stanford was their fantasy.

Be that as it may, following eight months, both dropped-out. Then they were taking an interest in the Y-Combinator.

Idea Generation

There, they saw how troublesome that was for business visionaries to get the bank credits from customary sources. So, they transformed Veyond into charge card organization, which later renamed as Brex.

Brex hit an association with Sutton Bank, that is located at Ohio. The cards were cost $5 every year per client after the initial five clients, that was free. Brex could take exchange charges from traders.

Anu Hariharan, reveal his feelings that he was very strange that everyone wants to buy them. And don’t know what to do in this situation. Hims, SoFi and Classpass also grouped with Brex’s charge cards.

Another was the Boxed, a web based business start – which started utilizing a Brex card, a year prior to fee for things like stock and computerized advertisements.

Mr. Huang said that Boxed has almost 250 million dollars in financing.

Larissa Maranhao Rocha said that, while development take off, Brex at first attempted to enlist engineers in light of the focused ability advertise. That have changed after the Brex brought subsidizing-up a year ago. Inside a half year of the organization hit the $1 billion estimate. It’s incorporate Subside Thiel and Max Levchin, co-founder of  the PayPal.

startups in san francisco

Source: Vimeo

Mr. Dubugras flaunted the billboards at a meeting, saying that they were a less expensive approach to arrive at potential. Today, Brex has more than 220 agents. Brex’s rising profile before long drew more investors, Mr. Franceschi and Mr. Dubugras turned down a significant number of them.

Mr. Franceschi said that Brex attempts to comprehend when that occurs. He included that, you’re coming up short on business, you didn’t pay us, and I am going to cut-off.

Mr. Dubugras said that he didn’t expect funding to vanish if things turned, and included that as Brex assisted. Since it always screens, their money alters credit limits. In any case, in the event of some unforeseen issue, Brex, that is unrewarding, has stockpiled cash.

In June, organization said it had upraised 100 million dollars from financial specialists, including DST Worldwide and Kleiner Perkins.

This current year, Brex likewise began working with sciences and online business organizations. Which last presently make up 30% of business.

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