blogmarydsouza - Tumblr blog

[blogmarydsouza]

Crypto Currency - Future of Transactions

Introduction of Crypto Currency 

A cryptocurrency  is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.

The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.

History of  Cryptocurrency

 In 1983, the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash. 

1995, he implemented it through Digicash, an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or any third party.

In 1996, the NSA published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash, describing a Cryptocurrency system first publishing it in a MIT mailing list] and later in 1997, in The American Law Review

In 1998, Wei Dai published a description of "b-money", characterized as an anonymous, distributed electronic cash system.Shortly thereafter, Nick Szabo described bit gold. Like bitcoin and other cryptocurrencies that would follow it, bit gold (not to be confused with the later gold-based exchange, BitGold) was described as an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published. A currency system based on a reusable proof of work was later created by Hal Finney who followed the work of Dai and Szabo

The first decentralized cryptocurrency, bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. It used SHA-256, a cryptographic hash function, as its proof-of-work scheme. In April 2011, Namecoin was created as an attempt at forming a decentralized DNS, which would make internet censorship very difficult. Soon after, in October 2011, Litecoin was released. It was the first successful cryptocurrency to use scrypt as its hash function instead of SHA-256. Another notable cryptocurrency, Peercoin was the first to use a proof-of-work/proof-of-stake hybrid.

On 6 August 2014, the UK announced its Treasury had been commissioned to do a study of cryptocurrencies, and what role, if any, they can play in the UK economy. 

The purpose of  Cryptocurrency 

The  purpose of cryptocurrencies is to create a medium for gambling and speculation. There is no way any crypto could become a sort of international or universal medium of exchange. The only purpose for having a money system is to provide an acceptable and guaranteed medium of exchange to facilitate trade. As there are no regulations relating to cryptos there is no way anyone can provide a guarantee that they either exist in the first place, of that what is being speculated on is, in fact, a genuine bit of digital dust floating around in cyberspace.

Besides that, no digital currency is worth anything unless it, ultimately, can be exchanged for some form of legal tender. Only a nation’s Government has the authority to declare what shall be a nation’s legal tender and only the Government has the authority to guarantee the tender by punishing counterfeiters.

Characteristics of  Cryptocurrency

In order to believe in the crypto revolution, it’s important to understand the fundamental aspects of cryptocurrencies and blockchain technology that make it so revolutionary.

The 3 key characteristics of cryptocurrencies are that they are trustless, immutable, and decentralized.

1) Trustless

Bitcoin is trustless because it was designed in a way that nobody has to trust anybody else in order for the network to function.

Every form of currency before bitcoin required a central authority that you had to trust in order to use it. In all cases, that central authority becomes the central weakness that leads to the demise of the currency.

With bitcoin, each part of the ecosystem validates what the other parts are telling it without needing to trust anybody. If you broadcast a bitcoin transaction, all nodes receive it and verify that the signatures are valid. If the signatures are not valid, they discard the transaction.

Everyone on the network has a copy of the ledger so we no longer need to trust a single entity/organization/third-party because there is no need to trust when you can just verify against this ledger because you have a copy of it. The decentralized ledger is known as the block chain.

The incentivization of individual network actors though the proof-of-work consensus algorithm is one of the most groundbreaking ideas in modern economics.

The incentive may help encourage nodes to stay honest. If a greedy attacker is able to assemble more CPU proof-of-worker than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins.

He ought to find it more profitable to play by the rules, such rules that favor him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.

— Satoshi Nakamoto

Although we are still figuring out exactly how we use cryptocurrencies and and what for, they are here to stay. Aside from the other major benefits of cryptocurrencies and blockchain tech, solving the centralized trust issue alone is a big enough innovation to give crypto staying power.

2) Immutable

“Immutable”, in its simplest sense, means “cannot be undone.”

Immutability in regards to blockchain and cryptocurrency should follow 3 principles:

·         It should be highly improbable or difficult to rewrite history.

·         It should be impossible for anyone but the owner of a private key to move            funds.

·         All transactions are recorded on the blockchain. 

When we want to check how money has been spent from our bank accounts, we check our transaction history with the bank. We trust our banks not to fabricate transactions or manipulate our money as we trust them to deliver our transactions to recipients. If there are fraudulent transactions, the bank also needs to be trusted to change them and fix the situation.

As we have already seen that the elements of centralization and trust are removed from cryptocurrency, there is no longer a third party for us to trust to do these things. Therefore, transaction records are made public and unchangeable (immutable).

Although it isn’t impossible to change the transaction ledger, cryptographic security makes it extremely difficult. It require you to compromise the entire network of cryptocurrency users.

3) Decentralized

Since “decentralization” is such a relevant buzzword in the crypto community, it’s important to define it well. It can take on different meanings.

“Blockchains are politically decentralized (no one controls them) and architecturally decentralized (no infrastructural central point of failure) but they are logically centralized (there is one commonly agreed state and the system behaves like a single computer).” — Vitalik Buterin

·         Fault tolerance: decentralized systems are less likely to fail accidentally because they rely on networks of separate components.

·         Attack resistance: decentralized systems are more expensive to attack and destroy or manipulate because they don’t have vulnerable central points that can be attacked at much lower cost than the surrounding system.

·         Collusion resistance : it‘s harder for members of decentralized systems to act in ways that benefit them at the expense of others. On the other hand, corporations and governments collude in ways that benefit themselves but hurt others all the time.

With central banks and governments, the supply and creation of money through mints and interest rates are controlled only by the banks. Users of fiat currencies are at the mercy of the central banks’ money-printing whims.

The problem in this world is to avoid concentration of power — we must have a dispersion of power .

— Milton Friedman

If you are not yet outraged by the central banking money-printing scam, it is helpful to think of it as a hidden tax when they print and destroy the wealth you have stored in those fiat currencies.

Moving Into the Future

Top Cryptocurrencies will play an important role in the future, with the use steadily increasing over the past several years. Bitcoin is currently used in 96 countries and growing, with 12,000 transactions occur every hour. Understanding more about cryptocurrency is the first step, and the second is to try it.

Purchase a small amount of cryptocurrency through an exchange, test it out, and complete a few transactions. After you get a feel for the process, you may decide to try mining. But whatever your path, know that the future of cryptocurrency is bright, and the list of cryptocurrencies is only expanding.

Genesis Mining offers you a smart and easy way to mine using our cloud hosting solution. Our solution is designed for those who are new to the world of cryptocurrencies, as well as for cryptocurrency experts and large-scale end users. Genesis Mining is the world’s first large-scale multi-algorithm cloud-mining service, offering an alternative to those who would like to engage in Bitcoin and altcoin mining.

[blogmarydsouza]

Facts about Digital Marketing

Digital Marketing is becoming the backbone of revenue generation in every company. As a blogger your objective is to write, edit and publish, content on a website or a blog and also it has a huge scope in India.

BENEFITS OF HAVING DIGITAL MARKETING JOBS AND CAREER OPPORTUNITIES IN INDIA.

·      Freedom

·      It is on the boom

·      There is always something new to learn

·      Good salary package

·      Don’t have to go door to door to market the product.

How Digital Marketing Works

 Digital marketing and its associated channels are important – but not to the exclusion of all else. It’s not enough to just know your customers; you must know them better than anybody else so you can communicate with them where, when and how they are most receptive to your message.

 To do that, you need a consolidated view of customer preferences and expectations across all channels – web, social media, mobile, direct mail, point of sale, etc. Retailers do this using omnichannel retail analytics. Marketers can use this information to create and anticipate consistent, coordinated customer experiences that will move customers along in the buying cycle. The deeper your customer insight into behavior and preferences, the more likely you are to engage them in lucrative interactions.

There are 10 types of Digital Marketing

1. Content Marketing : Content  marketing is a type of digital marketing that focuses on creating and distributing content for a target audience. The content aims at being valuable, relevant, and (ideally) consistent. Its ultimate goal is to drive a profitable customer action.

2. Search Engine Optimization

SEO stands for “search engine optimization.” It is the process of getting traffic from the “free,” “organic,” “editorial” or “natural” search results on search engines.

All major search engines such as Google, Bing and Yahoo have primary search results, where web pages and other content such as videos or local listings are shown and ranked based on what the search engine considers most relevant to users. Payment isn’t involved, as it is with paid search ads.

3.  Search Engine Marketing

Search engine marketing (SEM) is a digital marketing strategy used to increase the visibility of a website in search engine results pages (SERPs).

While the industry term once referred to both organic search activities such as search engine optimization (SEO) and paid, it now refers almost exclusively to paid search advertising.

Search engine marketing is also alternately referred to as paid search or pay per click (PPC).

4. Social Media Marketing 

Social media marketing refers to the process of using social media platforms to attract traffic and attention. By using social media, you can increase exposure and build meaningful relationships with your customers.

While everybody can benefit from SMM as a type of digital marketing. B2C and SaaS companies tend to get the most out of it. Social media marketing is all about listening to what your customers have to say, engaging in the conversation, and sharing valuable content.

5. Pay - per - click Advertising PPC

Pay-per-click is a model of advertising where marketers pay a fee every time people click on their ad. Basically, it’s the process of buying visits to your site, as opposed to getting them organically via SEO or other types of digital marketing.

PPC is one of the types of paid search. It’s similar to SEM (search engine marketing) but can also include display advertising (cost-per-click based), and affiliate advertising.

6.  Affiliate Marketing :

Affiliate marketing is one of the popular ways people make money online these days. If your affiliate program is successful, you might earn quite a decent passive income.

Basically, affiliate marketing is a type of digital marketing where a person partners up with other businesses in order to receive a commission for the traffic she/he generates for this business. Imagine this: you put a link to an external website on your own blog or website. Every time a user proceeds to this external website and makes a purchase, you receive a commission.

7. Email Marketing :

Email marketing is one of the most popular types of digital marketing. To put it shortly, it’s the use of email for promoting one’s products or services.

If you go a little deeper, email marketing might also refer to building relationships with your customers. Ideally, emails you send out to your clients should not only speak at them but also encourage meaningful interaction with your brand.

8.  Instant  Messaging Marketing

Instant messengers are the latest communication trend. There are 1.5 billion people globally using WhatsApp on a monthly basis, followed by Facebook Messenger and We Chat. If you want to be where your audience is, enter instant messaging marketing.

9. Radio Advertising :

While considered “old-fashioned” by some, radio advertising might still be a powerful medium, especially for B2C companies and local businesses. 

Radio advertising is also relatively cheap, as you don’t need to produce fancy visuals: you solely rely on your customers’ imagination.

10. Television Advertising :

A television advertisement (also called a television commercial, commercial, ad, TV advert or simply an advert) is a span of television programming produced and paid for by an organization. It conveys a message, aimed to market a product or service. Advertisers and marketers may refer to television commercials as TVCs.

CAREER PROSPECTS IN DIGITAL MARKETING

 1. Digital marketing manager

Responsibilities of Digital Marketing Manager :  A digital marketing manager is responsible for developing, implementing and managing marketing campaigns that promote a company and its products and/or services. He or she plays a major role in enhancing brand awareness within the digital space as well as driving website traffic and acquiring leads/customers.

 2. Content Marketing Manager

Responsibilities of Content Marketing Manager :  Content Marketing Managers are usually responsible for planning, developing and implementing the overall company's content strategy. They are responsible for the management of the creation and production of online and offline marketing content.

3. content writer

Responsibilities of a Content Writer : Content writer usually research industry - related topics. Their responsibility is to write clear marketing copy to promote product/services and also to prepare well structured drafts using Content Management Systems.  Content writers typically create content for the Web. This content can include sales copy, e-books, podcasts, and text for graphics. Content writers use various Web formatting tools, such as HTML, CSS, and JavaScript and content management systems to help create their work.

4. Social marketing expert or specialist

Responsibilities of Social Marketing Expert / Specialist :  Social Media Specialists are responsible for planning, implementing and monitoring the company's Social Media strategy in order to increase brand awareness, improve Marketing efforts and increase sales.  They help drive traffic to websites, promote content using various advertising strategies, and develop relationships with key influencers and target audiences. ... Facebook is an excellent place for marketing resources.

Skills you need for digital marketing

Today's digital marketing experts must have a diverse skill set, including a sophisticated grasp of available media channels, the ability to identify up-and-coming opportunities, on top of having the basic skills of a brilliant marketer

1.Paid social media advertising expertise

2. Sales skills

3. Specific marketing channel expertise

4. The ability to think objectively

5 .The ability to execute and analyse drip marketing campaigns

6. A mix of creativity and analytical abilities

7. A likable personality

8. An understanding of Word

9. Listening skills

10. Basic design skills

Digital Marketing is for everyone:

 There are many professions in this world that is dictated by the stream you choose in 11th grade. For instance, someone who chooses arts is likely to end up diving into the world of academia. Same goes for commerce students who are more likely to do their BBA or B-Com and get into the business and marketing line. Similarly, you have to have taken science in 11th and 12th if you are interested in pursuing a career as a medical specialist or an architect. What this does is, it limits the career choice of a student who may end up following their chosen stream.

  Everyone can pick a career in digital marketing. You don’t have to fulfill certain set of criteria or obligations to be a digital marketer. Any graduate, be it an engineering graduate, or a B.Com graduate, can pick this as a career by doing Certifications in Digital Marketing.

Career Options in Digital Marketing is unlimited:

A Digital Marketing Career does not confine you to a single job profile. Within Digital Marketing itself, there are many specialized and varied roles. You can be a digital marketer who specializes in e-mail marketing, or one who specializes in Facebook marketing, or simply someone whose specialty lies in Google ad-words, and so on, and so forth. 

 The scope in Digital Marketing is endless and you can cherry pick the ideal role for you. For instance, if you are someone whose life revolves around social media, then you can pick Facebook Marketing or Instagram Marketing.

The Scope of Digital Marketing in India

The future scope of digital marketing in India is going to be one that is all-encompassing. Because of its ability to offer a broad range of economic, powerful and modern mediums of marketing

Over the last few years Digital Marketing in India has witnessed an exponential growth and by the end of the year, 2020 it is expected to generate over 20 Lac jobs per year.

Future of Digital Marketing in India

Indian Goverment Efforts Digital India

Indian government in last 2 years has been putting lot of efforts in making Digital India. The government has been promoting digital mode of getting services, paying through digital payment channels and using digital platforms for all the upcoming new initiatives. Bheem App, UPI and GST are good examples of how the Indian government is trying to bring most people on the internet.

India will have 511.89 internet users by 2022. This would create excellent opportunities to do digital marketing. Digital India has given new scope of digital marketing in India.

Moreover, startups create during job opportunities in the field of digital marketing. Thus opening new avenues in the digital marketing career path. Digital marketing is the most economical way to do conversion-oriented marketing. All of digital marketing tactics can easily quantify with effective digital marketing tools like Google Analytics, Google Website Optimizer.