Tag Archives: blockchain

Competitive Research Who’s Your SEO Competition?

Competitive Research 
Who's Your SEO Competition?

Now that you've brainstormed a long list of potential keywords, you may be wondering which keywords are most important. Good question! We'll spend two lessons on competitive research to help provide some answers. First, you'll learn who's your SEO competition among the top-ranked websites.

Identify the Top-Ranked Websites for Your Keywords

In this step of the SEO tutorial, you begin to evaluate your potential keywords by finding the websites currently ranking for those terms. Knowing these "keyword competitors" helps you determine whether your site belongs in the competition for that keyword.

search query changes the game and the opponents entirely, depending on what the search engine perceives the searcher's intent to be. Identifying who's competing for a particular keyword topic can tell you what type of game is being played and whether you should even step on that field.

Some keyword competitions just won't be your game.

Since your keyword choices influence who can find your website, optimize your pages for the phrases and terms that buyers, not just masses of window shoppers, might use to find what they need. You must select keywords that interested site visitors would search for (and then make sure the content on your page answers their needs AND uses those keywords). Whatever you hope your site visitors will do (whether to make a purchase, sign up for your newsletter or other), you need to figure out which keywords those people will search for.

Fortunately, the search engines are trying to figure out the same thing — what people really want — for every search query. So the best way to tell whether a keyword could lead to a conversion on your site is to see what kinds of results the search engine delivers. If at least some of the top 10 websites offer the same types of products, services or information that yours does, then that's probably a relevant keyword worth putting on the list. But don't worry. We have another free SEO tool to make your competitive research easier.

Here's how to use the Top-Ranked Websites by Keyword tool:

  1. Enter a keyword or phrase below and click "Research Keyword."
  2. View the list of URLs returned for each search, which may be your keyword competition (more on that in a moment).
  3. Keep these lists of keyword competitors in your spreadsheet (next to each keyword), as these are sites you may want to analyze later.
     

What the Competitive Keyword Research Shows

The Top-Ranked Websites by Keyword tool lists the sites with the most top-25 rankings and shows the specific pages that rank highest for the keyword you entered.

The numbers represent each site's current (real-time) ranking position in several search engines (1 means the First position, 3 is third, etc.). Keep track of the individual page URLs that are ranked best and are your major competition (we'll identify your true competitors in a moment). The example to the right shows the top-ranking web pages for the keyword "campsites in Southern California."

Can't I just run a search? If you search directly on Google or Bing, your results are biased by your personal settings, city, and previous searches and clicks. Using our SEO tools eliminates almost all bias and personalization. This unbiased ranking information provides helpful benchmarks for SEO competitive research.

However, if you're a local business or service, you'll want to run your keywords through the search engines directly (with personalization turned off, but your location set to the market area) to see the local competitors.

Know Your True Competitors

Are all the top-ranking sites really my keyword competition? Well, yes and no. In the above example, one result is the Parks Service, an authority .gov website. Will your campground ever be able to compete against it? Probably not for this keyword. You may not consider the government or other high-clout sites (like Wikipedia) to be competitors. Nevertheless, where these and other search result giants are competing for the same SERP space, they're among your keyword competition.

Still, the results reveal what kind(s) of pages search engines think are most relevant to this keyword's perceived user intent. If ALL the top-ranking sites serve a different kind of visitor from the person you want to attract, then maybe you don't want to compete for that keyword.

 

 

For example, if your business designs go-kart tracks, should you optimize for the keyword "go-kart racing"? Looking at search results shows the answer: none of the top-ranked websites offer what your company offers. The search engine assumes that everyone searching for "go-kart racing" wants to go for a ride, so it will probably never consider your design company a relevant match.

You'd better keep doing keyword research looking for more relevant keyword phrases whose top-ranking websites include some true competitors. You can see how keyword research leads to competitive research, which leads to more keyword research, and so on. Now that you know who's your SEO competition for the important keywords, keep their URLs handy.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member

Keyword Research, How to Select Keywords

Keyword Research
How to Select Keywords

The first and most important search engine optimization step is keyword research. What is keyword research? Simply put, it's figuring out what people might search for in order to find what your website offers — what keyword topics best identify your website content. In this step of our SEO tutorial, you learn the basics of how to do keyword research, try out some free keyword research tools, and start your SEO plan of attack!

Getting Started with SEO Keyword Research

The first task is simply brainstorming. Ask yourself some basic questions to select keywords that might make good targets for search engine optimization, like:

  • What is your website content about?
  • What would you ask a search engine to find what your website offers?
  • What do you think other searchers would ask for?
  • What are your most popular pages/items about?

Most people can make a short (or long) list of keywords that might be used to find their own site. But ask other people these questions and write down their keyword suggestions, too. Doing so will help you go beyond the jargon words that only you and insiders know. When doing keyword research for SEO, you want to discover what real people in your target audience would call what your site offers.

Don't limit your ideas; brainstorm whatever subjects and phrases could lead the kinds of visitors you want to your site. Type them into a spreadsheet. Your brainstorming will "prime the keyword pump." This initial list will be expanded upon and refined in the next few steps, but start with the logical keywords.

Find Keywords People Already Use for Your Business

If your site is already live, you may have hidden keyword gold just waiting to be dug up.

  • A good place to look for keywords is your internal site search. Offering visitors a search box within your site is good for users but also good for you, because it collects search query data. Looking at these queries primarily helps you improve usability (since it reveals what people want to see, what website content may be missing, and where your site navigation is weak). But you may also find nuggets of keyword gold, useful phrases that people search for. Add those to your list.
  • You can find valuable data using Google Search Console (formerly called Webmaster Tools). This free service from Google gives website owners a wealth of information about their own sites (especially with Google Analytics set up, too). Particularly useful is the Search Analytics report; when you look at it by Queries, you can see what key search terms are bringing up your web pages in Google searches. Google also uses Search Console to notify you of errors or penalties, and you'll need the diagnostic SEO tools offered there to keep your site in good health. So don't miss out. (Here's how to set up Google Search Console.)
  • Dig through your customer communications to find additional, actively used keywords. Talk to your customer service people to find out what customers are asking about (in their words). Also check social media sites like Facebook and Twitter to read what your community has said, and search for your primary keywords to discover how people are currently talking about your products, services or subjects.

Get Keyword Suggestions

Take advantage of free keyword research tools to find additional keywords. Our Keyword Suggestion Tool below shows you keyword ideas that are related to any seed word you enter. Type in one word or phrase at a time. The resulting suggestions come from actual search query data, so select the keywords that match your website content and add them to your growing keyword research list.

What the Keyword Data Tells You

With our tool, you can see keyword suggestions with data on the average click-through rate (CTR) and cost per click (CPC) for advertisers bidding on that keyword. It also reveals how many web pages contain those words in their Title tag (not necessarily as an exact phrase) under AllInTitle. These metrics indicate how competitive a keyword phrase may be.

You can also see an Activity column, which shows the approximate number of monthly searches for that keyword (also known as "search volume"). CAUTION: Don't get greedy looking at keyword activity counts. Record this statistic with the keyword in your spreadsheet. But keep in mind that a keyword's search volume should not overly influence your choices, especially at this point. You want to select keywords only if they reflect what your website is truly about. Going after high-volume keywords that don't relate to the rest of your content would be deceptive and even punishable as spam.

 

 

How Should You Use Search Activity Data?

Search volumes do cast light on your keyword research. They reveal what people actually call things, and they help you prioritize similar keyword phrases.

For instance, a retail site might choose to use "rolling backpacks for kids" (1,600 monthly searches) rather than "wheeled backpacks for kids" (320 monthly searches) because the first keyword phrase gets searched 5 times more often. However, that retailer should not pin its hopes on ranking for the broad term "backpacks," no matter how attractive that word's sky-high search volume looks.

The moral: Don't be tempted by the huge numbers for broad keywords. With enough time and effort, you might be able to rank for them, but you'd be battling large, established brands for unfocused visitors that might not even be ready to buy.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member

Bitcoin Apps You Need to Know About

Bitcoin Apps You Need to Know About

If you are a bitcoin enthusiast, there are a few bitcoin apps you need to know about, as they might come in handy. Whether you want to earn a few free satoshis playing games in your free time, or whether you want to constantly keep track of bitcoin’s price, there is an app out there that will take care of your needs. Here are a few examples:

Cryptonator

This free app allows you to check conversion rates for over 500 different cryptocurrencies, in over 40 different exchanges. Essentially, Cryptonator makes it easy for users to find out how much cryptocurrencies people own are worth.

It also includes a portfolio tool that allows users to see how their selected coins perform over a specific period of time, as well a “winners & losers” section that show which coins are doing good, and which aren’t.

Bitcoin Ticker Widget

Bitcoin Ticker Widget is exactly what it sounds like it is: a widget that gives you bitcoin’s price directly on your home screen. Widgets with the price of other cryptocurrencies can also be set up, showing conversion rates for a few different fiat currencies. The prices shown in the widgets are taken from some of the world’s top cryptocurrency exchanges, such as BTCC and Bitstamp.

 Blockchain Game

If you want to introduce someone to bitcoin, you need to show them this game. Not only will it give you context to explain what blockchain technology is, but it will also help the other person earn a few satoshis and start playing around with bitcoin before they get serious about it. The game itself is pretty entertaining, and killing free time while earning bitcoin makes it a lot more enjoyable.

Bitcoin Map

Bitcoin Map is a free app you can install on your smartphone that shows you where you can spend your bitcoins. This way you will be able to know whether the local burger joint accepts bitcoin or not. Even if you know every brick-and-mortar store accepting bitcoins in your area, the app may still come in handy when you decide to go for a road trip. There are other Bitcoin map apps out there, but most of them only give you the location of bitcoin ATMs, not actual brick-and-mortar stores accepting the cryptocurrency.

Blockfolio

Blockfolio is a free financial app aimed at cryptocurrency enthusiasts. Not only does it show price information for bitcoin and over 800 altcoins, it can be set to send the user a notification whenever a specific currency reaches a price threshold. Moreover, as if that insane number of altcoins wasn’t enough, it also features over 30 different fiat currencies so it can reach a global audience.

zTrader

zTrader is the trading client app every cryptocurrency trader needs. It features information from most major exchanges and can show in-depth analysis on different currencies, giving the user a great market overview. The app is pretty complex and gives users tons of information that can, at first, be overwhelming. It will, however, make traders’ lives easier. The app features secure, encrypted storage of API keys, and even though it’s free to download, there is also a pro version.

Chuck Reynolds
Contributor

 

Alan Zibluk – Markethive Founding Member

Cryptocurrency Enthusiast Succesfully Mines Bitcoin on a 1985 NES Console

Cryptocurrency Enthusiast Succesfully Mines Bitcoin on a 1985 NES Console

People have tried to mine bitcoin on a wide variety of devices in the past. Due to the evolution of mining hardware, most of the older devices have become obsolete for this type of purpose. That hasn’t kept users from getting creative, though, as one person has successfully created mining software for a 1985 NES. Quite an intriguing project, although it won’t make anyone rich overnight.

RetroMiner Mines Bitcoin On An NES

Although it may sound unlikely to mine bitcoin on an NES gaming system, it is certainly possible to do so. What started out as an offhanded challenge quickly turned into an intriguing project for the person who developed RetroMiner. Not everyone may see the benefit of this project, though, as it is unlikely the NES is even capable of mining bitcoin at any more than laughable speeds.

Most people do not understand the concept of bitcoin mining. Since it takes dedicated expensive hardware to perform this process efficiently these days, mining bitcoin makes little sense. Showcasing how this process works on a device most people are comfortable with, however, may sway a few people’s minds in the process. Then again, it is unlikely anyone will try to mimic mining bitcoin on a 1985 NES, though.

To put this into perspective, mining bitcoin on an 8-bit game console involves a lot more work than one would assume. Bitcoin mining is a very resource-intensive process and the 1985 NES is not a top-notch machine by any means. For its time, it was revolutionary in every way possible, but things have evolved a lot over the past 32 years. Then again, it is nifty to see someone actively mine bitcoin on such a device, albeit it may not generate any coins in the process.

The NES is not equipped to communicate with the live bitcoin network, or performing SHA-256 hashing. Communication with the bitcoin network proved to be pretty easy to implement once a custom bitcoin version was compiled. Keep in mind this involves using a Raspberry Pi as a proprietary device, though. More detailed instructions on the software involved can be found on the Retrominer website

SHA-256 hashing requires multiple 32-bit operations to take place. The NES, however, can only perform 8-bit tasks, which seemingly makes it incompatible. However, it was possible to create an open implementation of SHA256 that works just fine with 8-bit hardware. The custom ROM including the SHA256 algorithm is sent to the NES through the Raspberry Pi, though. However, in the end, the 8-bit game console is more than capable of doing its job, albeit no one should expect any miracles.

Interestingly enough, the person responsible for the Retrominer project feels there is still a lot of room for future improvements. At the same time, none of these improvements will turn 32-year-old hardware into a money making machine by any means. Eventually, the goal is to move more parts of the mining process to the NES, rather than passing through a Raspberry Pi first. All things considered, this is quite an amazing project, that goes to show old game consoles can be repurposed for other tasks with a bit of tinkering.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member

Bitcoin as Trend Setter: Warren Buffett on Why Money Management is Expensive & Inefficient

Bitcoin as Trend Setter:

Warren Buffett on Why Money Management is
Expensive & Inefficient

 

Increasing ambiguity in the structure of the financial industry and rapidly changing trends in investing are bringing more attention towards Bitcoin, the digital currency which traders and investors are using to avoid economic instability and financial uncertainty. Both financial and technology corporations are also actively investigating the potential of Bitcoin’s underlying technology – the Blockchain – in creating a secure, efficient, transparent and cross-sector platform for the settlement of transactions and assets.

However, still, the vast majority of investors and traders are eying potential investments in Bitcoin, possibly through fully regulated and liquid financial instruments such as the Winklevoss twins’ Bitcoin ETF. As Cointelegraph reported, the March 11 approval of the Winklevoss twins’ COIN ETF is nearing and analysts are quite optimistic towards its approval. Once approved, the ETF will open a new market for Bitcoin, encouraging hedge funds and large-scale investment firms to enter.

Warren Buffett says investors always try to beat market,
Bitcoin is a trend setter

Warren Buffett, a prominent American investor with a net worth of $76.1 bln, recently wrote to the shareholders of Berkshire Hathaway in his annual letter that wealthy investors should be able to afford superior financial services. In the letter, Buffett also mentioned that investors and traders are always trying to beat the market, as breaking the trend and investing in innovative companies often lead to the highest profit margins. Buffett himself is known be an early investor in some of the most wildly successful conglomerates, most notably the $183.7 bln beverages company The Coca-Cola Co.

To beat the market and make profitable investments, a high level of risk is involved. More to that, financial managers, investors, and hedge funds maintain a massive portfolio of investments that require immense labor. Thus, hedge funds and investment firms have been charging high fees to their clients for managing their funds. This trend, which has sustained its stability for decades, is starting to change. Hedge fund managers like Paul Tudor Jones, who was known to the financial industry for charging some of the highest fees to his clients, have been continuously decreasing fees over the past few years.

Why Bitcoin matters
and money management will continue to see declining fees

Essentially, the decline of money management fees and the sense of urgency of hedge funds managers all boil down to acknowledging new trends in the market. Over the past few years, Bitcoin has consistently been the top performing currency and assets across all markets and industries across the world. In fact, many mainstream investors, traders, and analysts in early 2017 recognized Bitcoin as the best performing asset and currency throughout 2016, offering extensive media coverage and comprehensive review of Bitcoin as an investment. As a result, Bitcoin’s market cap is continuing to reach new all-time highs.

In the near future, investors will be left with two choices: leave their money with expensive and inefficient hedge funds or invest in emerging assets or currencies like Bitcoin. The choice to invest in Bitcoin will be readily available once the Winklevoss twins’ ETF is approved.

Second Blockchain Academy Launched in Kerala, India

Kerala is to become the second Indian state to get its own Blockchain academy in a joint scheme between the Indian Institute of Information Technology and Management-Kerala, hereinafter IIITM-K and international learning and business development platform Blockchain Education Network, hereinafter BEN. The initiative was announced a recent Blockchain workshop held by the IIITM-K in Kerala’s capital Thiruvananthapuram, with director Dr. Rajasree MS confident of its potential. “Banking, health care [sic], and governance are the three major avenues where Blockchains [sic] will find applications,” he said quoted by Indian Express Sunday.

Professor S Rajeev, a consultant at Maker Village, a subsidiary incubator run by IIITM-K, added that “Blockchain [sic] technology, which leverages the idea of a distributed and decentralized ledger, will open up new avenues both in the software and hardware sectors.” The focus of such ‘academies’ in both Kerala and pioneer Bangalore remains somewhat vague but points to a desire to understand the impact of technology on various spheres of the economy. At the same time, India’s central bank last week suggested Blockchain becoming mainstream was a “pipe dream” and that such technology could only gain popular acceptance with the endorsement of authorities.

Chuck Reynolds
Contributor

 

Alan Zibluk – Markethive Founding Member

The Many Ways You Can Book Your Travels Using Bitcoin

 

You can also earn Bitcoin and have them traded for you on auto pilot. Thomas Prendergast and myself are rolliing out a massive marketing effort to build a huge team. You can join the link

HERE https://office.tradecoinclub.com/register/ICOREY Do not drag your feet and miss out on very important placement on our team

Many bitcoiners like to travel. In 2017 there are ways for people to use their bitcoins to book flights, car rentals, and hotels. Indeed, there are many options available to purchase any travel amenities imaginable without having to convert bitcoin to fiat.

Also read: Here Are Four Bitcoin Exchanges That Require Very Little Identity Verification

Traveling the World With Bitcoin

Did you know there are quite a few options out there to pay for flights and travel accommodations with Bitcoin? In fact, everyone’s favorite cryptocurrency can pay for plane tickets, purchase a rental car, and book lodging in cities across the globe. Over the past few years, a good handful of travel companies have embraced Bitcoin, thus enabling people to visit worldwide destinations on the decentralized currency.

Cheapair

Cheapair.com is well-known in the cryptocurrency community for offering affordable flights for Bitcoin. The California-based company introduced Bitcoin support in 2013. Cheapair believes it was one of the first travel firms to accept the digital currency for payment processing.

“We will do whatever it takes to make travel buying easier and give Cheapair customers more options,” said Jeff Klee, CEO of Cheapair at the time. “We’re intrigued by the growing Bitcoin phenomenon, and we are happy to provide Bitcoin users an easy, secure way to book flights.”

The platform’s interface is pretty straightforward and operates like any other online travel service. Users can book flights to anywhere in the world from most airports and major airline services. Cheapair can also provide hotel accommodations and car rentals for trips as well. All of these services can be purchased with bitcoin immediately by using the company’s shopping cart portal.

BTCTrip

BTCTrip believes it is “the travel agency for the cryptocurrency community.” The New York-based company, founded in 2013 by Yamil Alis and Martin Fernandez, enables users to pay with bitcoin for travel needs. Currently, the service offers flight and hotel accommodations, covering many destinations worldwide. The user interface is fairly simple, allowing users to fill out where they would like to travel, followed by departure and return dates. The travel company also accepts Dogecoin and Litecoin payments.

Expedia

 

Expedia is probably one of the most popular online travel agencies and has been around since 1996. The full-service travel giant announced it would accept bitcoin back in June 2014. The announcement pleased the cryptocurrency community, as it meant a degree of mainstream acceptance. The company partnered with Coinbase to facilitate bitcoin purchases for flight and travel accommodations.

Fred Ehrsam, co-founder of Coinbase, explained that “By accepting bitcoin as a form of payment, Expedia is giving a wider community of users the opportunity to book hotels from their site’s inventory of properties all around the world quickly and easily.”

Expedia users simply choose a flight, hotel or car rental using the company’s online platform, and proceed to pay with bitcoin at checkout. Expedia does have a separate terms and conditions page specifically for bitcoin purchases. The site explains how Coinbase facilitates the payment, tells its customers about miner fees, and how bitcoin transactions are irreversible.

More Flights for Bitcoin

There are other companies that offer airline tickets for bitcoin payments. If you are planning to travel around the European mainland a company called Abitsky offers discounted flights and travel accommodations for travelers paying with bitcoin. Destinia is another company that offers trip amenities for destinations all around the world using cryptocurrency payments. Destinia recently said it would rather “build bridges than walls”, speaking out in opposition to Donald Trump’s immigration statements. The travel agency is offering a 5 percent discount for those traveling from Mexico to the U.S.

Another full-service travel agency that accepts bitcoin payments is Fluege.com, which offers flights, hotels, and car rentals worldwide. Furthermore, the well-known airline service Airbaltic has offered alternative payment choices, such as bitcoin for flights, since 2014. The well-known airline takes passengers to many Baltic state destinations, and the company can be found at many local airports worldwide.

While planning a trip can be frustrating, finding a travel agency that accepts Bitcoin is pretty easy.

Have you ever used any of these companies to purchase travel arrangements with bitcoin? Let us know in the comments below.


Images courtesy of Shutterstock, Pixabay, BTCTrip, Expedia, and Cheapair.


Whether you’re a beginner or a long-time bitcoin player, there’s always something interesting going on in the bitcoin.com Forums. We are proud free speech advocates, and no matter what your opinion on bitcoin we guarantee it’ll be seen and heard here. We don’t censor.

Chris Corey CMO Markethive Inc

http:// https://office.tradecoinclub.com/register/ICOREY

 

 

By Jamie Redman –

 

February 15, 2017

 

Alan Zibluk – Markethive Founding Member

90% of Altcoins Wont Make it But Bitcoin Will Sustain

 

Altcoins are springing up on a daily basis, you might have noticed that they appear pretty regularly in the lists of CoinMarketCap. However, Ethereum Classic's Charles Hoskinson predicts that as much as 90 percent of altcoin will probably die out in the near future.

Speaking to Cointelegraph about the sustainability of cryptocurrencies, Hoskinson, who was with Ethereum before crossing the carpet to ETC, outlined what makes a digital currency thick.

"As for most cryptocurrencies, I agree completely they will likely die out," Hoskinson related. "As 90 percent of businesses usually fail in the first few years, there is no reason to believe that coins are any different."

Treasury Mechanic system

To ensure sustainability of cryptocurrency he is convinced Treasury Mechanic measures should be explored and taken seriously:

"I think all cryptocurrencies should strongly consider a treasury mechanic. It creates long-term sustainability if it's correctly implemented. We are going to look closely at our own treasury for ETC."

Recently some altcoins have come under scrutiny for employing pump and dump tactics to swindle its holders. Case in point is CageCoin, that recently rose by 31,000 percentage point but fell miserably within 24 hours.

It is very imperative that community members undertake the necessary due diligence when they are investing in any coin. This is very crucial at a stage where digital currency is scaling and convincing sceptics, it is not a nine-day wonder but has really come to stay.

Bitcoin is sustainable

On the contrary, Hoskinson holds the view that Bitcoin is not in the category of the unsustainable coins and the strength of every currency is in its communities, not its technology per se.

He elaborates:

"Technology can incentivize more community to come but it cannot replace it. Bitcoin has the strongest community of all cryptocurrencies and also the most resilient. It has survived over a billion dollars of theft, dozens of death declarations and exchange failures alongside many so called leaders trying to hijack to project and the founder leaving. It's absolutely stunning that Bitcoin has survived and thrived. I don't think Bitcoin is going to die. Rather the better question is where does it stop."

Truly, that is the only thing for all currencies including the US Dollar. It is merely strong because people accept it for goods and services. Imagine if they suddenly stopped, the dollar would be in trouble

 

Bitcoin won't die

"I don't think Bitcoin is going to die. Rather the better question is where does it stop?" Hoskinson queries. He articulates it will either become a universal payment system or simply a digital gold standard that stores value.

With the standard of measurement improving swiftly with infrastructures like ATMs, debit cards, hundreds of thousands of merchants, it is hard to dispute Charles Hoskinson on this.

"Many contractors in Eastern Europe do dev work for Bitcoin – it is very popular in Ukraine, for example," Hoskinson remarked. If you would like to earn and have Bitcoin traded for you automatically? 

Thomas Prendergast and I are putting together a team in Trade Coin Club and you can join us Here https://office.tradecoinclub.com/register/ICOREY

 

Chris Corey CMO Markethive Inc

 

BY: Frisco d'Anconia

Alan Zibluk – Markethive Founding Member

Why a New Small Business Blockchain is Actually a Big Deal

Efforts to apply blockchain in the supply chain took an interesting turn last week.

blockchain for small business

I'm speaking, of course, about a piece of news that at first seemed pretty ordinary: a group of European banks announced they would band together to develop a blockchain-based trade finance solution.

This one, though, is unusual.

Rather than tackle large-scale global transactions that cross oceans, the project focuses on intra-European trade, and, more importantly, between small- and medium-sized enterprises (SMEs).

Why is this interesting? It's not because SMEs make up the vast majority of the world's businesses (although that certainly does make for a compelling use case). Rather, it's because of what it says about the evolving nature of trade finance.

We have seen many blockchain projects take a run at the subject, and the application seems obvious. Transactions across borders generally involve significant documentation, a process that itself generates numerous errors and gross inefficiencies.

Reducing the burden associated with getting goods from one place to another has to be a good thing, right?

Let's take a look.

Starting smaller

Most of the projects to date have focused on large international corporations, which is understandable, given that over two-thirds of world trade originates with global enterprises.

Where both the pain and potential promise are most acutely felt, however, is not in conglomerates, but in SMEs. In part, it's because of their sheer number, but mainly, it's due to financial trends.

Approximately 80% of global trade is now conducted through open account transactions, not via traditional channels using letters of credit. This means that there is no bank guarantee of payment.

The buyer pays when it's time to pay – usually well after the product has been delivered.

For many large corporations, this shift reflects tighter restrictions many banks are facing on lending and guarantees, as well as a desire to improve working capital and reduce administration and financing costs.

For most SMEs, open account is their only option, since over half of SME trade finance applications are declined.

Win-win situation

In open account transactions, trust becomes a huge factor. This is an issue when initiating a new commercial relationship, especially for SMEs with patchy or non-existent credit histories.

Without going into the details of how the new platform will work, the ability to see, in real-time, the status of the transaction at each step should make trust more transparent. Accelerating the process from order to settlement will increase liquidity.

The incorporation of the management of the respective banking functions (payment, factoring, etc) aims to facilitate the procedure even further, and could increase margins for both the banks and their participating clients.

Seen from the exporting SME's point of view, the project could be a way to overcome obstacles created by the shifting sands of finance and politics. And from the banks’ point of view, not only will it help to retain and support SME customers, it is also an effective way for banks to re-intermediate themselves into the trade finance process.

Starting within the relatively "safe" confines of the European Union gives the project a chance to test the process of cross-border trade before venturing into more complicated territory.

What's next

If things go according to plan, we shouldn’t have to wait long to see how the project fares with target users. It is already a working proof-of-concept, developed last year by Belgian bank KBC.

Opening it up to six other European institutions is an obvious step toward scalability, presenting a way to test cross-border relationships within a manageable group before it's global.

The team will start to seek regulatory approval within the next few months, with a view to going "live" before the year's end.

Looking forward, the compelling advantage of lower transaction costs and stronger commercial relationships could help to partially offset the uncertainty and potential price of rising interest rates and shifting trade barriers.

It's not hard to see how projects like this could help to prepare businesses around the world for the changes ahead, and to adapt to not only current trends, but future ones as well.

If you believe that my message is worth spreading, please use the share buttons if they show on this page.

Stephen Hodgkiss
Chief Engineer at MarketHive

markethive.com


Alan Zibluk – Markethive Founding Member

Bitcoin Prices Spike Above $900 But Turbulence Remains

Bitcoin Prices Spike Above $900

But Turbulence Remains

 

coindesk-bpi-chart-94

 

Bitcoin prices passed $900 today, though this feat was diminished by several rallies that ultimately failed to push its value above this benchmark. Overall, the digital currency rose to as much as $904.76, after falling below $880 earlier in the session, climbing above this level amid modest volatility.

Later in the session, the price mounted another comeback, hitting a high just above $905, according to the CoinDesk USD Bitcoin Price Index (BPI). At press time, however, the price had dipped again to a value of $894.95. This upward movement represented the latest session of relatively mild price volatility, at least compared to the sharp price fluctuations experienced earlier this month.

Most notable, however, about the day's trading, may have been the lack of any serious decline over the day's trading. Bitcoin prices enjoyed their latest climb in spite of new Chinese regulatory developments that found the nation’s exchanges responding publicly to pressures from the People's Bank of China, the country's central bank.

Bullish sentiment

Still, market sentiment has been bullish, according to figures provided by a handful of exchanges, even with the confirmation that major Chinese exchanges Huobi and OKCoin had stopped offering margin trading. The market was 91% long on 19th January, Whaleclub figures reveal. In addition, more than 53% of Bitfinex orders that were executed in the 24 hours through 22:15 UTC were buy orders, according to BFX Data.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member

Everything You Need to Know About Bitcoin

Everything You Need to Know About Bitcoin

Many netizens have heard of bitcoin, the digital currency. This means it exists electronically. To be more precise, bitcoin is a type of cryptocurrency – the implication of security and encryption is important. Cryptocurrency, or digital currency, is an invention of the Internet. Basically, someone out there thought, "hey, what if…Read more. In this post, we attempt to identify 10 questions about Bitcoins that can give you a clearer understanding of what it is, what it does and how you can use it to buy products or services online.

What are bitcoins?

Bitcoin (capitalized) refers to the software or network (ie: the Bitcoin Network), while bitcoin (not capitalized) refers to the digital currency itself (ie: two bitcoins). he price fluctuates, depending on what people were willing to pay for it. It traded for as low as pennies (during the infancy stage) to as high as USD1200 during its peak in 2013.

Who developed the idea of bitcoins?

The idea of Bitcoin was conceptualized by Satoshi Nakamoto, an anonymous figure. In May 2008, he shared a white paper [PDF] about Bitcoin, a peer-to-peer cryptocurrency. Without disclosing who he was, Satoshi outlined how the currency would work: bitcoins would be ‘mined’ by computer software, transferred directly amongst users and recorded in an untamperable ledger without the need of a third party.

Part of Bitcoin’s appeal is Satoshi Nakamoto’s anonymity, who many view as a selfless act towards a new era of financial revolution. Online detectives have identified a few candidates, including a real-life Japanese person sharing the same name. Some even theorized that Satoshi Nakamoto is a pseudonym for a collective.

In May 2016, the Bitcoin community was shocked when Australian entrepreneur Craig Wright identified himself as Satoshi Nakamoto. Some people believe his claim, some didn’t, but on the whole the Bitcoin community is unaffected – the Bitcoin ecosystem is decentralized, and cannot be controlled by any person(s), including the creator.

What is so special about bitcoin?

Bitcoin is a peer-to-peer currency and runs on a system which allows you to send and receive bitcoins without a third party. To put simply, fiat currencies rely on third parties, such as banks or payment processors like Visa, to verify the transaction. This is how you and I can ensure payment sent was indeed received. However, bitcoin transactions are recorded in a public ledger called the bitcoin blockchain. This information are permanent and publicly viewable on Blockchain.info and cannot be edited or deleted.

This means that the transaction records act as proof of transaction. Bitcoin is also programmed to be non-duplicable, which means double spending is highly unlikely.

What is decentralized currency?

Bitcoin is also a decentralized currency, as in no one government, individual or group holds authority over it. This makes bitcoin spendable anywhere in the world as long as the receiver accepts bitcoins as payment.

Decentralised currencies are a unique concept. Similar to the internet, it is free from geographical boundaries – this is why bitcoin is also dubbed ‘the currency of the internet’.

Due to lack of control and regulations, many countries are understandably wary of bitcoin – and other cryptocurrencies in general – but some progressive countries such as Japan have started to recognize it as currency.

Is bitcoin anonymous?

Bitcoin’s anonymity is a myth. Or rather, it is now much harder to make anonymous transactions with Bitcoin. Because as the ecosystem matures, many bitcoin service providers have started implementing KYC/AML regulations. KYC/AML stands for know your customers/anti-money laundering . This requires users to submit proof of identity and proof of residence.

It is also fairly easy to trace bitcoins. Bitcoins are usually bought from bitcoin exchanges, received as payment, or donated. With transaction details publicly viewable online, it is possible to trace where the bitcoin came from.

 How do you use bitcoins?

Bitcoin can be used for spending, similar to money. Some people also keep them for investment purposes, while others prefer to use them as a method to make international money transfer.  Bitcoin exists electronically and is kept in ‘bitcoin wallets’. There are many types of bitcoin wallets: desktop wallet, mobile wallet, online/web-based wallet, hardware wallet and even paper wallet.

To read more about bitcoin storage, check out this article by CoinDesk. You can have as many wallets and bitcoin addresses (where you receive money from others) as you like.

How many people are using bitcoin?

Estimates vary – it is hard to find out the exact number of people who use Bitcoin. One way to measure number of bitcoin users is by measuring the number of bitcoin wallets. According to CoinDesk’s State of Bitcoin and Blockchain 2016 report, bitcoin wallets doubled to 12.77 million in one year, from the end of 2014 to the end of 2015. Even though many bitcoin users have more than one wallet (it is common to hold a few wallets), this is an indication that the number of bitcoin users worldwide is increasing.

Another way to estimate bitcoin usage is by the number of bitcoin transactions, which has steadily increased. Although this could mean that the same people are simply making more bitcoin transactions, it is fair to assume that there are new bitcoin users in the mix, too.

How do I acquire bitcoins?

There are three main ways to get bitcoins: mine them, buy them, or work for them.

Bitcoin Mining
Bitcoin mining used to be really profitable. However at the current time it is no longer cost effective for the average individual. One will need to buy specialised Bitcoin mining equipment, get/rent dedicated spaces for them, and pay their associated costs (rental, electricity and cooling costs).
Buy Bitcoins
You can buy bitcoins from many online exchanges. There are a lot more options now than ever before – there are global bitcoin exchanges and also country-specific bitcoin exchanges. You can also buy them from other people via Localbitcoins.
Work for Bitcoins
Some people get paid in bitcoins, instead of cash currencies. Websites such as XBTFreelancer… and Coinality list jobs with bitcoin payments.There are other less effective ways to acquire bitcoins. You can get (very) small amounts of bitcoins from bitcoin faucets, which pay you to look at advertisements. You can get them as donations. There are also bitcoin ‘investments’ but if you wish to not lose money, Badbavoid companies that are listed in itcoin Badlist.

How do I send/receive/spend bitcoins?

Bitcoin wallets come with bitcoin addresses, which represent a destination, similar to an email address. Bitcoin addresses are alphanumeric, between 27-34 characters in length. Many bitcoin service providers have user-friendly user interface which allows users to generate bitcoin addresses, send and receive bitcoins.

To send bitcoins, users simply have to ensure positive balance in their bitcoin wallets, insert the receiver’s bitcoin address, and hit send. There is a small miner’s fee to process the transaction – miner’s fees are given as a reward and incentive to Bitcoin miners for maintaining equipment. Bitcoin transactions usually take less than an hour to arrive, but it can take longer or shorter depending on the fee amount and the bitcoin service provider.

You can spend bitcoins anywhere that accept bitcoins as payment. You can also use a Visa/Mastercard-linked bitcoin debit card issued by companies like Wirex or Coinbase.

What are bitcoin’s disadvantages?

Depending on who you ask, you’ll get different answers. Coders and programmers might argue that bitcoin is already an outdated network, compared to some of the newer cryptocurrency networks available. Here we will concentrate on bitcoin’s disadvantages to the casual user:

Advanced digital knowledge is necessary

Bitcoin can be stolen in many ways. It is the bitcoin owner’s responsibility to keep them safe, and this meant implementing additional layers of security such as 2-factor authentication. Keeping them in web wallets can be dangerous. If you have a significant amount of bitcoins, you are advised to keep them in hardware wallets such as Trezor or Ledger.

Bitcoin service providers can be hard to trust

The biggest names have failed the Bitcoin community. Who can forget the Mt. Gox incident in 2014. It was the biggest bitcoin exchanger at the time and practically disappeared overnight along with almost 745,000 bitcoins. More recently in 2016, thieves stole almost 120,000 bitcoins during the Bitfinex hack – and experts still don’t know how they did it.

Lack of acceptance

Cold hard cash is still the widest and most used form of payment – it’s acceptance is second to none. By contrast, bitcoin is only accepted at a handful of shops. However, bitcoin debit cards help to address this issue – linked to payment processors, they help make bitcoin spending a bit easier.

Lack of protection

In general, bitcoin is not considered legal in most countries around the world. Therefore, theft or scam victims have almost no option for recourse. However, the legal landscape is ever-changing and one of the best spots to update yourself on where bitcoin is acceptable or not is Bitlegal.io.

Anti-bitcoin politicians

While many countries around the world mainly cautioned the public against the risky nature of Bitcoin, some politicians or political parties have extreme views about bitcoin. Russian and French lawmakers are considering banning it altogether.

Wrap Up

Bitcoin is cool, but the underlying technology behind it – the blockchain – is even cooler. Turns out, having a method to record data in a way that cannot be tampered or deleted is a good thing. It is also a cost-effective method to store information. Many companies including major banks have expressed interest in the blockchain technology.

David Ogden
Entrepreneur

Alan Zibluk – Markethive Founding Member