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Blockchain And Artificial Intelligence

The blockchain is the most emerging technology of the future having the potential to change the future of finance and data security world. The decentralized system of Blockchain is the major reason for the world to adopt the Blockchain. By putting to work various decentralized ledgers to maintain records and verify the authenticity of the transactions without having a central authority, Blockchain has gained a lot of interest from the finance world. The decentralized nature of Blockchain makes it more transparent, secure and faster than the centralized alternatives present in the market. Finance market has already seen its impact while using cryptocurrencies. The application has extended to areas such as advertising, healthcare, accounting, business logistics, and security. Currently, researchers and developers are trying to incorporate this into big data handling and most importantly in artificial intelligence.

Read also: Why blockchain for business

How Blockchain Can Transform Artificial Intelligence

Blockchain is concerned with maintaining records securely, verification and all this without any human interference. The machines and programmes can work more independently and efficiently. From speech pattern recognition to self-driving cars, the goal of AI is to learn and apply the knowledge for better customer services and work efficiency. The blockchain is concerned with keeping accurate records, verification, and execution while artificial intelligence can help in making informed decisions by analyzing datasets and patterns. The key benefits of the merger are listed below:

  • AI and Blockchain based data sharing: A decentralized database ensures sharing data with multiple clients at the same time. Similarly, artificial intelligence relies on huge blocks of data. With more data to analyze, the prediction and assessment of the organization can be improved. The algorithms generated are more reliable and trustworthy.
  • Complete Security: The transactions done over Blockchain require a high level of security. This is made sure by enforcing protocols. For an Artificial Intelligence, the autonomous nature of programmes and machines also need a high level of security to prevent any hacks or unauthorized access. Blockchain can be merged with AI to improve its functions.
  • Building Trust For Development Of Technology: One of the most significant threats encountered by the Blockchain technology is the lack of proper law structure. To manage and facilitate the effective communication between the two machines, there should be strong encryption. Blockchain network can assist in this by providing a multi-level transparent system which could build trust in the organization and provide a flexible structure.
  • Future of AI: Merging these two technologies will lead to rapid development of Artificial Intelligence. As we continue to explore more potential of Blockchain technologies and AI systems, we see that the future of encryption and machine learning lies together. Blockchain will offer itself as support root for Artificial Intelligence.

Read also: Impact of Blockchain on Digital Economy

Conclusion

Security is one of the vital concerns that is currently adopted by various industries across the globe. SARA Analytics as a blockchain development company assures you to offer an atmosphere of a decentralized system which gives more transparency and reliability in your system with the need for a third-party. Moreover, blockchain and AI are the two technological trends which ground-breaking in their rights, have the potential to become even more revolutionary. Both serve to strengthen the capabilities of the other, also offering opportunities for better accountability at the same time.

Impact Of Blockchain On Digital Economy

Blockchain technology has made a positive relationship between two unknown parties without any mediator or intrusion from the third party. Blockchain uses the decentralized system to keep records. In the databases backed by Blockchain Technology, entries can only be done by passing an authenticated encryption. Blockchain also ensures full transparency in the organization. The data is protected by powerful encryption which gives security in the system. Outside hacks or data tampering is not possible in Blockchain Technology and gives complete peace of mind. Thus, we can say that in a digital economy, Blockchain has the potential to bring positive impact to the economy with the current industry trend. Read also: Why blockchain for business

Impact Of Blockchain Technology

Moving into the year 2018, it is rational to assume that Blockchain will be exposed to its full potential which will change the world of ‘Digital Economy’. There would be other potentials of Blockchain in other industries as well.

Enterprises would benefit from the level of security and transparency provided by Blockchain.

  • Reduction in Key Costs: Blockchain empowering cryptocurrency can be linked with the reduction of two major key costs of the digital finance sector. First of all, Blockchain will reduce the verification and authentication cost of transactions by many folds. On the second row, Blockchain can reduce the cost of networking. For a market to function, the key attribute of every organization is to verify and record transactions. The process is lengthy and labour intensive. This involves the role of a third party acting as a mediator for verifying the transactions. Blockchain can reduce the cost by minimizing work-force and the role of mediator. Network cost can be reduced by decentralized ledger that is used for recording transactions. These two features of Blockchain are the reasons – why Blockchain is the future of the digital economy.
  • Global Transaction System: Blockchains most significant achievement till date is Cryptocurrency (Bitcoin). As of today, it may not be as efficient as existing transact and exchange value system, but it has been successful in solving the problem it is designed for, i.e., development of cheaper global transact and exchange value structure without the need of intermediaries for verifying the transactions.

Read also: Blockchain – A New Internet Architecture

  • Blockchain Accounting & Bookkeeping: Maintaining accounts and bookkeeping is the biggest and most important thing in the financial market. Blockchain can provide the two most crucial features of accounting, i.e., transparency and immutability. The records stored in the decentralized ledger are visible to everyone, there is no central body controlling the data. This way transparency is maintained in the system. Blockchain also provides the benefit of immutability by preventing data from tapering or altering. Blockchain records are secure by powerful encryption; this makes the data free from any kind of hacks from unauthorized access. The blockchain is the future of digital economy and very soon will be adopted in accounting.
  • Trustworthy Platform: With features like immutability, decentralization and mediator free system, Blockchain is to gain trust in the finance sector. This technology has put artificial intelligence (AI) to work. This way the records are error-free and are not Human Bias.

Conclusion

The blockchain is the future of digital economy. It has already started revolutionizing the Digital Economy. Organizations and large financial firms have already begun adopting Blockchain in their businesses to increase efficiency and effectiveness in their work. SAPL as a blockchain development company offers refined Blockchain Development services across the globe as per the client’s needs.

How to Invest in Cryptocurrency!

Cryptocurrencies did reasonably well in 2017 and have been on the rise since the beginning of 2018. It has been continuously attracting more investors since ever. Most of the new investors face trouble in figuring out how to start investing in cryptocurrency. This blog will help you on how to invest in cryptocurrency and what are its advantages as well. The first cryptocurrency, Bitcoin was founded long back in 2009 and went unnoticed till 2013. However, after the year 2013, it saw a massive growth of investors. As a result of this, various cryptocurrencies have entered into the market.

By the end of 2017, the total market capital worth of cryptocurrencies was $ 450 Billion. The cryptocurrency market is not just of Bitcoins anymore. More players like Ethereum, Litecoin and Ripple have entered the market and performed really well. One of the primary reasons why Cryptocurrency gained so much popularity in so less time is because of Blockchain Technology. It is a secure and trustworthy way used by Bitcoins and many other cryptocurrencies to keep the user data and transactions safe.

Read also: What is cryptocurrency & its uses

Guide to invest in Cryptocurrencies

Before you spend in any of the Cryptocurrencies, you should be clear-headed about your investment goals. You should have a coherent vision of how long you want to keep your money invested and amount of profit you are satisfied to take.

Long-Term Investments

If you are hoping for a cryptocurrency to perform better over a longer period, you should go for long time investments that range from 6 months to 1 year. You can also plan to hold the amount even beyond that, say 5-10 years. In a longer term, you have the liberty to decide whether you want to invest in one go, or in instalments. For investing in a cryptocurrency for a long-term, make sure that a company’s technology is better than the others, have a strong team of developers and founders, have defined goals and are capable of handling your investments. The best options for investing in a long-term investment are:

  • You don’t have to keep watch over the market all the time.
  • Cryptocurrencies are tended to perform better in longer duration.
  • You can wait for the market to take arise if there are lower rates of returns on your investment.

Read also: Pros & cons of Blockchain technology

Short Term Investments

The second possible option available to you is to become an investor in the short-term investment plan. The period for this type of investment may range from a few minutes to a couple of months. Just as in case of short-term of investment you must be clear about your goals with a valid reason for investment. You should have a clear head of how much profit is satisfactory for you and how much loss you are willing to handle. The best options for investing in a short term investment are:

  • Low market capitals
  • High trading volumes, lots of investors are buying and selling cryptocurrency every minute.
  • Look for trending cryptocurrencies on social media and current news.
  • Invest in an ICO or who have just finished their fundraising through ICO. The price of Cryptocurrency is much lower here.

Read also: Blockchain- Future of technology

Conclusion

While Cryptocurrencies can be a massive source for earning but you may lose your money as well. SARA Analytics as a cryptocurrency development company predicts that the market may come wrong. Nobody has the idea of what is going to happen next in the finance market. It is better to make a proper market study before you start dealing in Cryptocurrencies, this way you will be able to take decisions about your investments.

What is Cryptocurrency, Its Uses and Why use it?

Cryptocurrency is the latest buzz of the financial market. Bitcoin was the first cryptocurrency to enter the market; many others followed the trend with the success of Bitcoins. It will be not wrong to point out that all great inventions were accidental, so the case with Bitcoins. Satoshi Nakamoto invented Bitcoins cryptocurrency. He was trying to develop an e-cash system under a project in 2008, with no central server, so he devised a decentralized electronic cash system. Cryptocurrency uses a peer-to-peer network to share the information to eliminate the need for the centralized system. Cryptocurrency is not rocket science to understand. They are databases stored in a decentralized ledger which record the transactions that cannot be changed or altered by anyone as Blockchains protect them. Authorized users can only change them if certain conditions are met. Cryptocurrencies are entries of tokens stored in a decentralized database with records of all account balances. Advance cryptography techniques protect the blocks.

How Cryptocurrency Works?

Cryptocurrency data stored in a decentralized public ledger, so the transparency is maintained. This also eliminates the risk of double spending by the user. Nobody owns or controls the ledger, its self-running without any interference of a central authority or a third-party. When a transaction is done in Cryptocurrency, it goes through a verification process. Cryptocurrency miners verify the transactions and add them to the Blockchain powered public ledger. Power supercomputers are used to solve the cryptography mathematics which is the key essence of the verification process.

Cryptocurrency mining is open-source, so anyone can confirm the transaction and the first miner to solve the problem gets to add a block to their transaction ledger. This process of verifying transactions is known as “proof-of-work-system.” Use of digital signatures prevents any forgery. Everyone is allotted a private key and a public key. The keys are protected with 256Bit encryption which is impossible to crack. Blockchain Technology protects the data blocks from any kind of tampering and unauthorized access.

Read also: Blockchain: A New Internet Architecture

Why Use Cryptocurrency?

  • For some investors cryptocurrency are high-risk investments, but here are some of the reasons for shifting to cryptocurrencies.
  • The most well-known benefit of cryptocurrencies is the lower costs of sending and receiving payments at high speed. The traditional transfer fees for an overseas payment is much higher than what incurred in Cryptocurrencies.
  • Cryptocurrencies are censorship resistant. Only the owner of a cryptocurrency wallet has access to his wealth with private keys. No personal Bitcoins wallet can be freeze by authorities. This way it offers an alternate store of wealth for users.
  • Initial Coin Offering (ICO) is a new form of fundraising for start-ups for raising capital by selling newly created digital tokens for cryptocurrencies such as Bitcoins and Ethers. It has opened new opportunities for a much broader spectrum of investors.
  • Some of the cryptocurrencies enable users to make private transactions. These transactions are made without having to give any explanations to banks or a central authority on the fund transferred.
  • More and more countries are adopting Cryptocurrencies on a broader scale. As of now, a total of 96 countries have permitted the use of Bitcoins for transactional purposes. Cryptocurrencies in future will be the global value of exchange.

Conclusion

SARA Analytics as a Cryptocurrency development company offers best, reliable and effective services to the customers as per their requirements across the globe. It is formed in such a way that the all the transactions done in it are 100% secured through encryption, thus offering full privacy and security to its users.

Blockchain: A New Internet Architecture

Blockchain Technology has gained significant attention, possesses far more future potential than Bitcoin. Bitcoins are the most popular form of Cryptocurrency that took the finance market by storm at the beginning of 2018. It is a fact that all type of cryptocurrencies is back by a distributed ledger technology known as Blockchain. It is a decentralized ledger or system implemented for recording and documenting transactions that take place digitally. Blockchain makes a copy for all the authorized users in a network, and a complex set of rules secures the data in Blockchain records. The content within them is protected by robust cryptography which makes sure that the transactions within the blocks cannot be edited or deleted by any of the parties or cannot hack by outside sources.

One of the important features of Blockchain Technology is that it allows transactions to happen without any need for central authority. The blockchain is widely used in the sector of Cryptocurrencies and has scope in other areas as well. Experts believe that the real potential of Blockchain is yet to be explored by the world, Cryptocurrency was a just the first step towards its vast future.

Below are some of the essential points that make a Blockchain a new internet architecture into the mainstream of business and finance:

International Payments

Traditionally the transfer of funds beyond the borders is an expensive and lengthy process. The reason for that is the involvement of multiple currencies and banks at different locations. The amount is processed for longer durations before the recipient can get the money. Blockchain, on the other hand, offers a much faster alternative to this system. The cost of remittance of the amount can be reduced to as low as 2% as compared to the current average of 20% with real-time processing of funds. There are still many hurdles to pass before this but, the future of online transactions lives in Blockchain Technology.

Read also: Blockchain is the future of technology

Smart Contracts

Smart Contracts are the most significant potential of Blockchain Technology. They are the set of programmes backed by Blockchain Technology which can meet all the conditions of an agreement and lead the contract to execution. These provide more secured, and automated way for traditional contract laws and as well offers a cheaper and more effective medium for cracking contracts. There is no limitation over what type of contracts can be automated; this technology adopted in any sector hassle-free.

Security Purposes

One of the major threat to any kind of online transaction or data recording is from hackers and other unauthorized parties. Online data is secured through advanced cryptography. The information once entered cannot be altered in any condition. Blockchain offers a tremendous level of security. There is an independent verification system for authentication of transactions in the system. This mechanism can efficiently work in other fields like online data storage, payment mechanisms, and identity management.

Conclusion

Blockchain Technology is a new architecture in the field of banking and finance, and various organizations are interested in it for their future development. SARA Analytics as a Blockchain Development Company offers refined Blockchain services across the globe as per the customer needs. Any business interested in secured and faster processing of transactions of data can use this technology hassle-free.

Read also: Why blockchain for business

Why Blockchain for Business?

Blockchain and cryptocurrency have gained a lot of popularity over the last decade, mainly due to the frantic growth rate. It is a fact that cryptocurrency has seen ups and down in the finance market. But among these ups and downs, the potential for Blockchain technology has been exposed on a broader scale. Blockchain Technology is now seen as an alternative to traditional digital currency management and banking system. Blockchain was initially developed to back Bitcoin cryptocurrency. It works by maintaining a decentralized ledger for recording transactions in blocks which is accessible to all the authorized users in a secure way at any time.

As of today, Blockchain is reshaping the industries of various financial sectors, manufacturing, accounting, and healthcare. This technology will continue to evolve itself in the coming days and is not just limited to Cryptocurrency. It is essential to understand that Blockchain and Cryptocurrency are two different things.

Read also: Advantages & Disadvantages of Blockchain Technology

Blockchain Technology acts as a backend technology for recording transactions in Bitcoins. It is the very reason for the existence of Blockchain. In simpler words, Bitcoins would not have possible without cryptocurrency.

Here is why businesses should adopt to Blockchain Technology:

Security: Anything that is digital always faces a threat of getting hacked, and there are chances of getting data stolen or tempered. In the case of Blockchain, due to a decentralized system, the data is stored with everyone which makes it impossible to get altered or deleted. The data, on the other hand, is also protected with advanced cryptography to prevent any unauthorized use.

Reliability: Handling daily business processes is a complex task. Through Blockchain Technology you can increase the reliability in the works of your business. The data processed and work done are free from any kind of human error or biasness. Blockchain Technology also prevents any kind of fake documents or fraudulent transactions.

Decentralization: Decentralization system is the one in which every participant or user is equal to another. This form of management increases transparency in the business and thus increasing the integrity of the organization. In the case of a centralized system, if there is a crash in the system, all the nodes connected to it will crash with the central unit. But in a Blockchain powered decentralized system, this is not possible.

Smart Contracts: Blockchain Technology allows the introduction of smart contracts in the system. Smart Contracts are a set of an electronic algorithm that allows the contracts and transactions to be done if certain conditions are met. The contracts are automated and also saves both time and cost for the company.

No Mediators: There is no need for a mediator for authorizing the transactions. The transactions can be verified in by an AI powered algorithm in a blockchain network. This way it needs less manpower and increases work efficiency in the organization.

Read also: Blockchain: Why it is the Future of Technology

Conclusion

Blockchain Technology is the future of finance and management sector, and various users are adopting it for their organizations. SARA by knowing its importance offers refined Blockchain Development services across the globe as per clients business needs. Any company or organization which is interested in secured and faster processing of transactions of data will use this technology for their businesses.

Blockchain: Why it is the Future of Technology?

Today on everyone’s tongue the word Blockchain is at full swing as starting off with the future predictions and the terms like Cryptocurrency or Bitcoin. Blockchain as a decentralized technology store the data digitally online and makes a copy for every authorized user to get secured access to that data. The data in blocks further recorded in a complex cryptography structure. Through this procedure, it made sure that the data kept in the blocks are safe from any kind of external threat like data tampering and hacks. Blockchain ledgers are also capable of authorizing and validating transactions without any need of a third party verification.

Bitcoin has been talking about the town since the beginning of 2018. They are the most trusted and sought-after cryptocurrency in the market. The one thing that keeps all the cryptocurrencies like Litecoin, Ethereum, bitcoin, etc. running is Blockchain Technology. This cutting-edge technology is the real reason for the existence of Cryptocurrencies and also the backing force behind this complex digital currency. Cryptocurrency has just been scratched from the top, and there is a lot of potential laying unexplored in the deep. We can say that cryptocurrency is the first step towards a more secured digitalized future.

Read also: Pros of blockchain technology

Why Blockchain Is Future of Technology

Blockchain has scope in every field where there is a requirement for a secure way of sharing data. This technology has the capability to change the way the mainstream finance sector works because:

  • Transparency & Immutability: These are the two features that any finance company would need to increase the integrity of their works. Blockchain offers a transparent way of storing data where it can view by every authorized user but cannot be edited by anyone. This increases the integrity of the company and trust among its customers.
  • International Fund Transfers: As of the current norms in the finance sector, the transfer of international funds is a lengthy as well as an expensive process. The time involved in the process is long as it passes through various validators and crucial steps. It’s a long procedure before the recipient gets his hold on the money. Blockchain offers a much cheaper alternative to this process. It can bring the processing costs down by more than 90% as of the current expenses. There may be many hurdles to pass before this could be achieved, but the future is here.
  • Initiating Smart Contracts: This is the most significant scope for Blockchain Technology. Who wouldn’t want the complex contracts to be automated to save costs and time? Smart Contracts are a set of programmes written to undergo a contract when certain conditions are met. This provides a secure and alternative way for traditional contracts. The automated systems would have a better understanding of contract laws and norms.
  • Security Purposes: One of the major threat to any kind of online transaction is data protection from hackers and unauthorized access. Blockchain Technology can get good riddance from this technology. The data once entered in a Blockchain node cannot be deleted or edited. This offers enormous safety of data. This can be put to work at various systems like online transactions, data storage, and even identity management.

Read also: Why Blockchain for Business

SARA Analytics as a blockchain development company knows the importance of this advanced technology to bring transparency in the financial system in future.