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Recent Posts By Kajol

What makes NFT stand out from the crowd, and why brands embrace them?
Non-Fungible tokens have been the most-talked topic in the crypto space. It creates monetizing opportunities for several different brands and collectors. 
 
This is mainly because they are feasibly authentic, highly secure to trade, and can include a wide range of branding opportunities. 
 
At its core, NFT is a rare and one-of-its-kind token. They cannot be replicated or be equated to any other asset. In this way, the developers can utilize NFTs as an effective way to individualize assets on the blockchain.
 
Starting from real estate to personal identities, the NFTs market provides some new and exciting opportunities for all crypto users. 
 
How it got started? 
 
Initially, NFTs gained popularity in the gaming sector. Gaming developers realized they could provide more value to users using these token standards. They strived to integrate NFTs within the gaming ecosystem, such as character, property, and other unique aspects. Crypto kitties were the first game to leverage this non-fungible token(NFT) technology
 
What made NFTs set apart from other cryptocurrencies? 

NFTs are not just like other cryptocurrencies, they might look similar, but they have their own distinct features.
 
Here are the main salient characteristics of NFTs: 
 
  • Unique 
     
  • Rare 
     
  • Indivisible 

With all these characteristics, they are booming and witnessing rapid growth. 
 
How brands embrace NFTs:
 
Taco Bell GIFs
 
To support the Live Más Scholarship, Taco bell decided to sell taco-themed NFT GIFs. 
 
After uploading 25 NFTs for sale in the NFT Marketplace, it was all sold out! Each NFT GIF started at a bidding price of $1. Finally, they all were sold for $1000 each and one sold for $3,646. 
 
RTFKT Digital Sneakers
 
A 2-year-old Chinese sneaker company named RTFKT designed virtual sneakers for the Chinese new year, and they displayed them in the auction. 
 
 
Take away 
 
Non-fungible tokens are incredibly new, and the technology underpinned has some significant changes and improvements through tireless innovations. If you are seeking a
cost-efficient and effective NFT solution for your business then approach Blockchain Firm as they assure you in delivering high-performance applications at a lower cost.
Let's learn some sneak-peaks of cryptocurrency lending software development!
 
This blog post gives you a rough idea of features to be added to your platform while
diving into crypto lending software development!

Features to opt for while diving into the crypto lending software development!

Borrower Management

The borrower management module helps the lending platform community to streamline,
verify and validate their borrowers efficiently. Also, the borrowers can instantly get loans from the investors based on their credit score. The lender can verify the borrower’s transaction history and then sign off the deal to be on the safer side. 
 
Lender Management

This module of the crypto lending software helps community members effectively
manage the investors and small-scale lenders. Lenders can be verified as per the KYC compliances by the network community. The lenders would be notified of the matching investment deals and the borrower’s authenticity. 
 
Lead Management

This feature helps in tracking the trading process. The lender and borrower can
trace the transaction status such as KYC, e-signature, payment status of the borrowers. The lender can leave comments or feedback on the borrower based on his trade experience. 
 
Know-Your-Limit

This feature restricts lenders and borrowers with trading limitations based on their
income certificates and other authorized proofs. Depending on the requirement, these features can be customized while developing the lending platform. 
 
Document Management System

The identity proofs, quotes, and other documents shared on the lending platform can
be efficiently managed with integrity and sustainability by utilizing this feature. 

Credit Score

The credit score is a significant feature when it comes to lending platform development. The crypto community can design the terms and conditions to set the credit score of borrowers & lenders in the platform. 
 
Wallet of choice

The trading peers can store and perform transactions with their online wallet
application offered by the platform so that they need not rely on third-party
applications. 
 
Automated Processes

The lending platform can be automated with auto-renewal of loans based on specified
conditions. Also, the borrowers can be laid with automated equated monthly payments(EMI) for the specified time frame.  

P2P Transaction

In crypto lending transactions, the smart contracts execute the deal based on the pre defined conditions. Hence, there are no intermediary interventions and disputes in this platform. 
 
AML Verification

The crypto lending platforms are customized with an automated KYC verification process based on the regulations of the geolocation. 
 
Feedback

The feedback feature prompts users to leave their comments on the lending platform
experience.

In addition to these functionalities, we take security measures as a priority in crypto businesses. Hence, here is the list of integrated security features that can be added to the crypto lending platform!

Security features to be added to the platform

Let’s just look into the quick shots of security features in the crypto lending platform!

·  Escrow Service
·  DDoS Protection
·  Data Encryption
·  CSRF Protection
·  SSRF Protection
 
You can include these security features to make your cryptocurrency lending
platform development more sustainable and safer for the community audience!

Stay tuned to explore opportunities in the crypto space!
Let's dive in to explore the new horizons of blockchain AI solutions!
Can you please throwback and remember the last time you spoke with a customer care
executive for banking needs or any other business? No, right! Most f our mobile banking application’s common problems and issues are resolved through voice support, right! The magic behind this automation is AI! 
 

The world is now moving towards the digital cryptocurrencies that shatter the cross-border restrictions for payment transactions. The legitimacy and security features behind cryptocurrencies are because of the blockchain infrastructure! 
 

Knowing the real-life usecases of blockchain and AI, in this blog post, you can explore
the basics of blockchain and AI technology and the benefits and challenges of blockchain AI solutions in businesses!

The concept of blockchain and AI!

Artificial Intelligence is computer software that has pre-defined rules and performs
actions, decisions based on that data. AI was architected to surpass human intelligence by reducing round-the-clock monitoring, repetitive tasks, signal notifications on desired market trends, and other similar stuff. AI works based on neural networks that mimic the human nervous system. AI is the advancement of machine learning, deep learning, and other basic computer sciences. 
 

Blockchain is the distributed ledger technology that records data transactions in chronological order with timestamps. Every transaction in the network requires approval and validation by the network peers as per the consensus guidelines. Hence, this technology preserves transparency, legitimacy, and P2P transactions in the processes. Moreover, the blockchain infrastructure avoids single-point failures and security breaches. 

Use-cases of blockchain AI solutions!

Blockchain tracks AI bots better than humans

Developers can build artificial intelligence software, and these applications are
integrated with capabilities to expand their data with machine learning. Hence, applications or bots’ decisions and actions are unpredictable even by the developers who design and build them. Even though AI is a boon to the tech world, AI’s behavior is unpredictable in certain scenarios. 
 
Blockchain AI solutions can overcome this misery and record every transaction or behavior of an AI application or bot in the ledger. This feature helps predict the
behavior of AI software and could be efficiently refrained from negative or unwanted decisions by feeding the appropriate information in the AI application. 
 
AI boosts up the blockchain

Consensus algorithms govern blockchain networks. Hence, whenever a transaction is
performed, the miner nodes validate and approve the transaction. For this purpose, the miner nodes spend huge effort and computing power. The miner node resolving the consensus puzzle receives the incentive while others trying to resolve are leftover. Hence, implementing AI bots with machine learning capabilities to resolve the mathematical puzzle can save manpower and computer power to a greater extent. 
 
Another pitfall of blockchain technology is the huge space required to store the entire
network data. Incorporating AI in optimizing the network space can be
beneficial in data-storage techniques. 
 
Let’s dive deeper into the benefits of blockchain AI solutions!

Benefits of blockchain AI solutions

With blockchain AI solutions, the concept of decentralized artificial intelligence
will bring up a lot of new features in businesses. Distributed nature of
blockchain technology helps in leveraging the computational power and exploring
every data set in the network. The data sets can be validated separately by the
network peers and then combined into an integrated database. 
 
The major advantage of blockchain AI solutions would be that the database is
independent, and the AI behavior is traceable. The tracking data of AI applications can be utilized for further enhancements. 

Challenges in implementing blockchain AI solutions!

Albeit the benefits of implementing blockchain AI solutions in real-time for business processes, there are security challenges in bringing them into reality. Based on the business ideology and requirement, the blockchain AI solutions differ. Hence, handing over your ideation to a professional blockchain AI solutions development company can boost up the processes without any flaws or potential risks! 
Some great insights one must know when IOT and blockchain are coupled together!
In recent years, IoT has been significantly expanded and connected multiple devices and networks from homes to industries to the entire city. This technology is coupled with another spectacular emerging technology, blockchain technology is set to revolutionize with its nature of being decentralized. 
 
If IoT and Blockchain are working together, they provide an authenticated and secure method for device and process associated with the former. 
 
Here blockchain works as a distributed ledger, where every edit or alteration of data is recorded in the ledger. With its decentralized nature, it prevents the vulnerable device from pushing wrong information and disrupting the network, whether it is a home or industry. 
 
Now let us, deep-dive, know the blockchain implementation and use a case in the IoT. 
 
Importance of blockchain implementation into IoT device
 
Generally, blockchain is more than distributed ledger as it is underpinned by cryptocurrencies mainly bitcoin. But when it comes to the IoT sphere, blockchain is gaining more traction. Blockchain-based security platform for industries has been widely used to address many challenges. One of the issues among them is offering data access to more participants which may lead to data theft and data hacking. 
 
Here blockchain technology controls the data access among participants thus increasing the redundancy in the system. 
 
Reasons you need to know for adopting blockchain technology in IoT. 
 
As we discussed above the main problem with existing IoT systems is their security. As it is embedded with a centralized client-server model which is managed by a central authority creates a single point of failure. 
 
This issue is addressed by blockchain by rendering decentralizing decision-making to a consensus shared network of devices. 

When designing an IoT device embedded with a blockchain one should consider
these three main challenges: 
 
Scalability: 
 
One of the crucial challenges faced by IoT devices is handling massive amounts of data collected by sensors. This can be avoided by defining a keen data model before which will save time and prevent difficulties. 
 
Network privacy and transaction confidentiality: 
 
The transaction history in the shared ledger of IoT devices cannot be easily accessed on public blockchains. This is mainly because  the transaction pattern is applied to make inferences about the identities of users behind public keys. 
 
Every industry should scrutinize its privacy requirements and choose between hybrid or private blockchains.
 
Conclusion 
 
Blockchain and IoT both are emerging technologies and have great potential that revolutionizes the existing systems. To authenticate and protect the fast-growing network devices, a good strategy and several approaches to IoT are essential. 
 
To Know more! Visit us @ https://www.blockchainfirm.io/blockchain-iot-solutions
How could Blockchain transform the Insurance industry?
 
Blockchain technology for the Insurance industry
 
Blockchain is distributed decentralized public ledger that allows users to record every
information and that can be shared among all blockchain participants. It implies that blockchain can potentially disrupt the insurance industry and change the way insurance is contracted. Blockchain technology optimizes the efficiency, security, transparency of the insurance industry using public ledgers and fortified cybersecurity protocols. 
 
Using distributed ledger and smart contracts to issue the insurance policies, claims, and payment processes increases efficiency and accuracy. No middlemen intervention is needed to authorize the processes while turning paper contracts to automated digital agreements execution, saving costs and time.
 
Blockchain use cases in the insurance industry
 
Health insurance

The health insurance industry has faced problems like duplicate medical records, manual claims processing, inaccurate record storage. There is a need for improvement in terms of efficiency, interoperability, and accuracy. With the advent of blockchain, the patient's record can be stored in a secured place and returning full access to users, making the insurance companies increase efficiency, cost savings, and customer satisfaction. 
 
Property and casualty Insurance

Property and casualty insurance claim data that is scattered across different locations
from different parties make claims resolution a challenge. Blockchain enables automated real-time data recording, analysis, potentially making some types of P&C claims process up to three times faster and cheaper. Automated smart contract execution will resolve data management problems which are considered the biggest challenge in the insurance industry.
 
Reinsurance 
The current reinsurance process is complex and notoriously inefficient. Blockchain has the potential to upend the current reinsurance process by streamlining the flow of information between insurers and reinsurers on a shared ledger. A detailed history of transactions can exist in insurer and reinsurer systems, eliminating the need to reconcile the history for each individual claim.
 
Benefits of blockchain in the insurance industry
 
Improves efficiency

Blockchain technology can streamline the workflow, reduce paper works and increase the
efficiency of the insurance process.
 
Enhances security

Blockchain ledgers and transactions are encrypted, thus could prevent data hacking and
data tampering.
 
Speed up claims processing

Blockchain enables real-time data recording and analysis, which could significantly speed
up claims processing.
 
Smart contracts execution 

Automated smart contracts are executed to implement policies and claims, thus eliminating the administrator intervention and making it a cost-effective approach.
 
Conclusion
Thus, blockchain technology has a high potential to meet the standards of the
insurance industry and provides a highly efficient, transparent, easy interoperable insurance system with minimized risks and costs. To know more updates regarding blockchain, explore Blockchain Firm.
Spectacular services offered by blockchain technology!
Blockchain technology is the reshaping sign of innovation. With its decentralized features, it is revolutionizing the existing system by making all the autonomous when it comes to gaining control. 
 
Blockchain technology is used by various industries to eradicate intermediaries from financial and legal transactions.  Blockchain secures digital documents in a safe and suitable manner, allowing a quick, safe and economical transfer of resources. 
 
Once the data is recorded in the blockchain it cannot be manipulated. So this model is immune to theft and tamper. 
 
 
Now let us witness the services offered by blockchain technology. 
 
Dapp Development 
 
Blockchain-based DApp is considered a new wave of application development. The prime reason for the booming of DApp is that they are unlike traditional applications. 
 
The Dapp does not need any middleman for connecting end-users and developers. Dapps are connected directly for managing user data and code. 
 
Unlike conventional apps, no permission is required for building a DApp, and a centralized group of people cannot change the platform's rules.
 
Smart contract development 
 
In recent times, Blockchain and Smart contracts have become subject of interest. Smart contracts are virtual agreements encoded as a computer programs. 
 
Smart contracts cannot be changed or altered by any participants including the two agreement holders. The self-executing nature of smart contracts makes it to be a powerful tool for various application 
 
Wallet development
 
Wallets are software program that interacts with the blockchain and allows you to send and receive cryptocurrencies across the world.  This wallet is not physically present but instead, it gives you access to the coins that are stored in the blockchain. 
 
Final verdict 
 
There is still a lot of roads to be driven on the path of blockchain services. The wide adoption of blockchain technology will take place sooner than later and advances in scalability and latency will benefit them.
Scrutinizing the concept of blockchain-powered peer-to-peer lending platforms
A P2P platform is a direct marketplace for performing money lending activities. Through this platform, any individual can lend money from others where the lender and the borrower are matched via online services.
 
Lenders are able to go through profiles of borrowers who are looking for money and can offer an amount to individuals or businesses that they find most promising. The borrower can either be a legal person looking for a loan or an individual.
 
Why peer-to-peer lending platform came into existence? 
 
In global finance, almost all banks are losing their cartel in the financial market. The prime reason for this loss of customer trust. 
 
 
How does it work?
 
The blockchain-based peer-to-peer lending platform is a straight forward process. 
Initially, a borrower who is interested in obtaining loans must fill online applications on the peer-to-peer lending platform. 
 
The platform analyses the application and determines the risk and credit rating of the applicant. 
 
After the application is approved the applicant receives various options from the investors based on his credit score and interest rate.
 
The applicant can go through the options and can choose one of them.  Finally, the applicant is totally responsible for paying the interest and repaying the amount at maturity. 
 
 
Advantages of the peer-to-peer lending platform: 
 
The peer-to-peer lending platform provides some significant benefits to both borrowers and lenders

·  P2P lending generally provides higher returns to the investors when compared to other types of investments.

·  For some borrowers, peer-to-peer lending is a more easily accessible source for funding than traditional loans from the financial system.

· P2P loans usually come with lower interest rates due to the competition between lenders and lower origination fees. 

Conclusion 

The entire world is witnessing the sudden rise of peer-to-peer lending platforms.
So Individuals and businesses are looking for a faster and hassle-free way to borrow money. The blockchain-powered peer-to-peer lending platform is more flexible and efficient than the banks; therefore, they attract a more massive crowd of borrowers and lenders. 

The Effect of Blockchain Consulting Services on Businesses
Blockchains have revamped several business domains and industries since it’s genesis.
Their  integration has been widely sought after due to the sheer performance upgrades they bestow in operations. Yet, despite its popularity and notoriety, many businesses worldwide are only interested in blockchain integration. They lack the knowledge of blockchain technology and how it can improve their businesses.
 
What are Blockchain Consulting Services?
 
Blockchain Consulting Services is the service extended by a blockchain enterprise that helps its clients understand and deploy blockchain technology to improve their performance, security, and efficiency.
 
A blockchain consulting services company offers blockchain consulting to recognize the client’s challenges and develop blockchain solutions to achieve business objectives.
 
Types of Blockchain Consulting Services:
 
  1. Security Enhancements: Organizations can reach out to blockchain enterprises to avail security consulting services. Blockchain Consultants can review the security structures of the client’s businesses to identify loopholes and weak spots. Consultants can educate organizations on how blockchain offers security solutions via immutability, decentralization, and shared ownership.

  2. Superior Traceability: Blockchain experts offer to consult the tracking facilities at the business’s disposal. They can illustrate blockchain tracking benefits and help the client comprehensively deploy a blockchain that reinforces effective traceability. The immutability of data and distributed ledgers allow any node in the blockchain to track and identity any service, goods, or commodity handled by the business. 

  3. Data Accessibility: Enterprises can avail blockchain consulting to break down the barriers that limit data accessibility. Blockchains enable data transparency and accessibility via decentralized storage. Any member of the blockchain can access and view any data at will. Businesses can improve their overall performance with the ability to access any information within the organization seamlessly.
     
  4. Identity Authentication: Blockchain nodes represent the idea of adequate identification and validation. These are sentient entities that authenticate any process, function, or individual that operate on the blockchain. Businesses can utilize consulting services to ensure self-governing nodes’ proper deployment to automate identity verification processes for security purposes.
     
  5. Cost Reduction: Expense elimination leading to growing business profits. Blockchain deployment can eliminate unnecessary expenses and errors that lead to spending. Smart contract automation can reduce hiring manpower, while distributed ledgers and decentralization reduce management expenses for governing resources such as staff, protocols, documentation, etc.
Conclusion:
 
The global adoption of blockhain is a future milestone for businesses. The successful deployment and extraction of its benefits require organizations to realize the technology as a viable alternative to technologies. With the current lack of comprehension,
blockchain enterprises extend consulting services that help businesses learn blockchain benefits. 
Real-Time Impact of Blockchain in Multiple Industries
Industries did not truly realize Blockchain technology’s potential until it was deployed to serve a process beyond its intended purpose. But in doing so, the decentralized technology
could offer more than the expected benefits when implemented in almost any field. 
Enterprise Blockchain Services aim to provide blockchain services to businesses looking to enhance their operations in the blockchain. This article lets us understand the technology built to track digital coin transactions online and improve other domains.
 
Real-time Impact of Blockchain in Multiple Industries:
 
Blockchain technology is only limited by the ability and degree of implementation in any given stream. Enterprise Blockchain Solutions integrates core features such as decentralization, immutability, and cryptographic encryptions, making it an exceptional choice for online security and reliability. Here is a list of industries blockchain
technology excels at.

1.    Supply Chain Management:
 
The fundamental issues faced by supply chains are the lack of transparency in logistics and inadequate quality assessment protocols to regulate counterfeit goods’ flow. Blockchains solve these concerns effectively via tokenization, data storage in distributed
ledgers, and node-based authentication and validation of goods quality. 

2. Digital Identity:
 
Centralized entities manage modern-day digital identity, rendering customers powerless in terms of data ownership. Such digital identities are at the risk of data breaches, identity
tampering, and malicious hacks.  Blockchain solves this problem by shifting exclusive rights to data ownership to the customers. They reinforce a decentralized structure, rendering digital identities immutable. 

3. Voting:
 
Voter fraud plagues existing elections and thus forces the voter to be physically present during election votings. Governments have the struggle to realize an effective voting
mechanism that allows online participation. Blockchain’s immutability can simplify authentication when a voter casts their vote legally. The voting transaction is recorded and shared with nodes regulating the election voting. 

4. Fundraising:
 
The Initial Coin Offerings were a fresh take on new-age fundraising activities. But they lost their luster owing to fraudulent entities in the longer runs. Security tokens offer a solution by allowing companies to sell equity as tokenized financial implements. Thus security tokens offered fractional ownership, lower minimum investments, and instant transfers of ownership. The decentralized nature of token management also led to the removal of intermediaries. Thus STOs replaced ICOs recently.

5. Healthcare:
 
The prime concerns in healthcare are the lack of clear insight into patients’ medical history, counterfeit drug circulation, and systems that allow easy access to patient records.  Blockchain is a viable solution to the challenges faced. Blockchain Medical records can be stored, rendered immutable, and readily accessed by any blockchain member. Also, authentication nodes can perform quality control on drugs to eliminate counterfeit medicine from circulation. 
 
Conclusion
 
Tech giants deem blockchain to be a miracle technology that enhances the industry that
successfully deploys it. Apart from the domains mentioned above, blockchain technology also augments industries such as real estate, energy, finance, gaming, virtual reality, and many more. Multiple organizations are currently seeking support from a Blockchain Development Services Company  to build themselves a personalized blockchain.
 
Enterprise Blockchain
Volatility and price hikes are the words that hit our eyes in daily newspapers, brochures. The Crypto world is too volatile and sleepless, which makes it delightful for traders. The crypto traders are enthusiastic about arbitrage, market making, mirroring, and other
strategies in the space. However, industrial experts focus on leveraging the underlying blockchain technology. 
 
Industry leaders approach blockchain developers to build end-to-end blockchain solutions for enterprises based on their processes and requirements. The giant brands of healthcare, real-estate, e-commerce, gaming, banking have already stepped into establishing blockchain solutions for their consumers. 
 
In this blog, let’s have a chit-chat on the top 4 blockchain solutions every industry can utilize for digital transformation!

4 Blockchain solutions to be adopted by every industry!

Smart Contracts

Smart Contracts are the self-operating computer protocols that perform the actions on the satisfaction of specified conditions. The smart contracts are built on the blockchain network and approved by the community peers. Every primary discussion of the contract is specified in the smart contract to avoid future disputes between the parties.
Employee contracts, mortgages, bank, enterprise, insurance, financial, copyrights, and other valuable deals can be weaved in ever-lasting smart contracts to avoid conflicts.
 
Sharing Confidential information

The digital data management system has
eliminated the documentation processes and provides easy access to information. But, it paves the way for information hacks too! Instead, embedding the blockchain technology for data management prompts for permission to access the data. The ecosystems can decide the public, private, permissioned, permissionless configurations and designate the miner nodes of the blockchain network to manage data transactions. 
 
Devoid of background verification

Embedding the blockchain technology in the maintenance of records helps companies, banks, and other institutions with the background verification process. Every year, financial institutions spend billions of dollars to verify the customer information; these costs can be cut-off on integrating the identity information of a person under the control
of federations. 
 
Financial services

Every sector needs a payment system that sends and receives money for their products or services. The traditional banking system has a bunch of intermediaries and processes that make our transactions tiresome. Blockchain solutions for financial services render
peer-to-peer transactions by avoiding third-party interventions; thereby, people can save huge transaction charges incurred. 
 

Let’s wind down!

 
Blockchain technology is here to stay! None of the blasting technology had belief as a novice. Later, it proved its capability with its use case. For instance, the internet! 
 
The world becomes dumb without the internet as of now! Sure, blockchain technology would soon attain the mark with the extensive knowledge of technologists and industry leaders!
P2P Lending Platform development
P2P lending is nothing but a way to allowing customers and novice entrepreneurs to access capital through the internet. It is similar to, taking a loan out from the bank, here the bank will be one of your peers. 
 
P2P lending really helped a lot of small entrepreneurs who are looking to borrow money and to open up their new business. In this article, let's get to know what P2P lending is and how P2P lending works.
 
PEER-TO-PEER LENDING
 
Peer to Peer lending is a platform that connects a borrower who is seeking a personal loan from an investor.  The investor can earn higher returns from their investment than conventional banking systems in P2P lending channels.
 
Verified borrowers are listed on the P2P lending platform to enhance the security of assets. Investors can see all the details about the borrower before lending money.
 
P2P lending is almost like taking a loan from a bank. The only difference is instead of lending from the bank; you will lend from an investor directly.
 
Now let's get to know how P2P lending actually works.
 
So the first and the foremost thing that you have to look after before lending or borrowing is that you need to have a user account in the P2P lending platform. There are various lending platforms you can find in the financial markets such as funding circle, lending club, etc...
 
Steps followed by the investors 
 
If you are an investor, open an account on the P2P lending site and deposit some amount of money. The lending platforms have some qualifications like, who can and cannot invest for loans. Once the admin of the P2P lending channel verifies the details, you will be approved as an investor. 
 
Every investor has to choose which type of loans you want to invest in like business or personal loans. Once the formalities between the lending platform company and investor are done, then investors can start investing money with their peers. 
 
Steps followed by the borrower
 
If you are a borrower, then the first agenda is you need to apply for a loan through a lending platform.
 
The investors will approve your loan and propose to you the interest rate and the loan terms. Sometimes it can be a single investor, or even multiple investors can fund your loan.  In cases of multiple investors, your interest will be divided among them.
 
The investors gain profit from the borrower interest rates, and the lending platform company also charges a small fee for the transaction. 
 
How are peer-to-peer loans used for?
 
As I stated earlier, P2P lending platforms help small businesses to increase their revenue. 
 
Here are some types of loans that have been offered by lending platforms. 

 
  • Small business loan
     
  • Debt consolidation
     
  • Home improvement
     
  • Medical care 
     
  • Military loans
     
  • Personal loans 
     
  • Auto-refinancing

 
Upshot:
                     
This is all about P2P lending. I hope that blog post was useful for people who are about to start a small business but do not have any idea about where to lend loans.
Blockchain Software Development Services
 
In this blog post, let's look at 5 sectors at which blockchain disrupts the processes ergonomically!

Identity Management 

Every person has a set of identity proofs like voter ID, driving license, educational certifications, and many more documents that need to be protected from spammers. However, with the digital evolution, we all have the practice of having a scanned copy of our identity documents for easy access in our devices or mails. These documents are prone to hacks as they are maintained in central servers and single device. Blockchain digital identity management can help users access their documents with public and private keys in a decentralized network. The owners can authorize people to view documents for authenticity and then revoke the access once done. These features of blockchain identity solutions help to safeguard the documents from counterfeit attacks and unauthorized utilities. 
 

Voting

Electoral or community voting is a daunting task that requires a huge workforce at every phase. Right from arranging the poll booths, verifying people's identities, traversing the voting machines to head office, counting and reconciling the votes are tedious processes. Blockchain voting solutions are ergonomic, and the processes becomes simple & cost-effective. Decentralized, online voting helps people cast their votes from the comfort of home after the minder nodes verify their authenticity, and the devoid of intermediaries promotes legitimate voting results. As every vote is verified and added to the blockchain ledger, the reconciliation becomes easier and accurate. 

Healthcare

The Healthcare industry has many pitfalls in maintaining patient records, drug supply chain, processing insurance, and bills. Imposing blockchain in the healthcare ecosystem can enhance the integrity of patients, medical practitioners, drug supply chain, researchers, and federations. Any chronic or pandemic diseases in a locality can be informed with alerts earliest to the blockchain network peers, thereby avoiding the potential loss of lives. Researchers can access huge patient data with their consent and apply those statistics to their analytics. Federations can reconcile the public medical
data in minutes with accuracy. On the whole, blockchain healthcare solutions ease the process for the entire community wheel. 
 

Cybersecurity

The digitalization of businesses has paved the pathway for more centralized servers and governments. With the growing internet community, hackers find potential loopholes to counterfeit the assets, data, and other values from the servers. Integrating blockchain
in social media
, digital identity, and other network platforms can encrypt the data cryptographically with hash algorithms. The cryptographic encryption, immutability, traceability of blockchain enhances the security of assets recorded on the internet. The P2P transfers in the blockchain network without intermediaries enhance the privacy, security, and trust among the internet users. 
 
Shared Economy

Centralized businesses require a huge workforce and cost in every process, and they lack transparency in operations to their consumers and community. When businesses adopt a shared economy with blockchain solutions, they inherit the transparency, cost effectiveness, traceability, immutability of records in their processes. Devoiding intermediaries and promoting P2P transactions in the trade reduces the operational cost, thereby decreasing transaction costs around 20-30% from the existing norms. The
blockchain reformation in the shared economy powers up the economy with quick
processing, reduced transaction costs, decentralized data. 

Wrapping up!

Blockchain is no more an underlying technology, it has hit the industries upfront, and we are in the rea of decentralized reformation. The intense and secured features of blockchain help industries and governance with intuitive solutions. Let's all look forward to the corruption less, transparent, community governance in every industrial process!
An open talk on crypto-assets benefits to the P2P lending and the risks involved in the process!
Cryptocurrencies and blockchain technology are shaking things in every industry and the way it’s being operated. The major impact of blockchain and cryptocurrencies is seen in
the fintech industry at a fast pace. Right from KYC verification to year-end reconciliation processes can be seamlessly surpassed with appropriate blockchain solutions with transparency and legitimacy. 
 

Blockchain changes the way the banking, insurance sectors with decentralized data management, consensus governance, smart contracts, immutable and traceable records. Incorporating blockchain solutions in the fintech processes makes it more reliable for the entire community wheel. Many new-age investors are showing interest in purchasing white-label P2P crypto lending software and launching their platform to run a hassle-free
business. 
 
Now, let’s get deeper into the benefits of P2P crypto lending and the risks involved
in these platforms!

Benefits of P2P crypto lending platform- A brief!

Equality of compliances

In traditional centralized banking systems, the poor people are expected to pay double or triple the amount of interest for the money lent in banks; whereas the privileged high-profile consumers are charged with minimal interests. These sort of norms seem unfair, but these culture of leveraging the banking systems continue even in developed countries due to the centralization of processes. 
 

Blockchain incorporated crypto P2P lending platforms vanish this chaos and bring out equality of norms among every consumer, regardless of their profile and other factors. Similarly, crypto investors can access the global lending market and could potentially reduce the risks involved in centralized systems. Decentralization of P2P lending platform
reduces the transaction and operational costs; thereby, the investor earns high
returns. 

Banking for everyone

Researches reveal that around 39% of the world’s population remains unbanked or underbanked. Blockchain-based P2P crypto lending platform opens the economy to all grades of people with loans, and other banking benefits. The centralized banking systems will never open these amenities to the average-scale people. 

Risks involved in crypto lending- An open & crisp talk!

Blockchain-based P2P crypto lending has its own risks and regulations. However, these market risks in implementing P2P crypto lending platforms are minimal and could be negotiated with some measures. Let’s look at the things you need to look after while getting into crypto lending!
 

Lending platform security

It’s best to have a background check on the white-label P2P crypto lending software about the security threats and bugs before purchasing it and you could possibly create a negative scenario and check on its behavior. Crypto business platforms are often hit with potential counterfeit attacks, hence it’s best to choose a tech partner who is stringent
to security policies. 
 
Market volatility

The volatility of cryptocurrencies can cost you losses in conversions to fiat and vice versa during the lending transactions. Investors can face depreciated crypto values due to market volatility and the borrower can be pushed to pay more. In such cases, it’s best to default the crypto values while repaying the loan principals. 

Wrapping up!

Blockchain P2P crypto lending is the kick-start to the generation at which every common people could experience banking services with complete potential. Soon our financial systems would be decentralized with equality of norms, legitimacy, and transparency of
transactions with blockchain P2P transactions!
Does the P2P lending platform help small businesses? Deep scrutiny!
P2P lending is nothing but a way to allowing customers and novice entrepreneurs to access capital through the internet. It is similar to, taking a loan out from the bank, here the bank will be one of your peers. 
 
P2P lending really helped a lot of small entrepreneurs who are looking to borrow money and to open up their new business. In this article, let's get to know what P2P lending is and how P2P lending works.
 
PEER-TO-PEER LENDING
 
Peer to Peer lending is a platform that connects a borrower who is seeking a personal loan from an investor.  The investor can earn higher returns from their investment than conventional banking systems in P2P lending channels.
 
Verified borrowers are listed on the P2P lending platform to enhance the security of assets. Investors can see all the details about the borrower before lending money.
 
P2P lending is almost like taking a loan from a bank. The only difference is instead of lending from the bank; you will lend from an investor directly.
 
The work pattern of P2P lending
 
Now let's get to know how P2P lending actually works.
 
So the first and the foremost thing that you have to look after before lending or borrowing is that you need to have a user account in the P2P lending platform. There are various lending platforms you can find in the financial markets such as funding circle, lending club, etc...
 
Steps followed by the investors 
 
If you are an investor, open an account on the P2P lending site and deposit some amount of money. The lending platforms have some qualifications like, who can and cannot invest for loans. Once the admin of the P2P lending channel verifies the details, you will be approved as an investor. 
 
Every investor has to choose which type of loans you want to invest in like business or personal loans. Once the formalities between the lending platform company and investor are done, then investors can start investing money with their peers. 
 
Steps followed by the borrower
 
If you are a borrower, then the first agenda is you need to apply for a loan through a lending platform.
 
The investors will approve your loan and propose to you the interest rate and the loan terms. Sometimes it can be a single investor, or even multiple investors can fund your loan.  In cases of multiple investors, your interest will be divided among them.
 
The investors gain profit from the borrower interest rates, and the lending platform company also charges a small fee for the transaction. 
 
How are peer-to-peer loans used for?
 
As I stated earlier, P2P lending platforms help small businesses to increase their revenue. 
 
Here are some types of loans that have been offered by lending platforms. 

 
  • Small business loan
     
  • Debt consolidation
     
  • Home improvement
     
  • Medical care 
     
  • Military loans
     
  • Personal loans 
     
  • Auto-refinancing

Upshot:
                     
This is all about P2P lending. I hope that blog post was useful for people who are
about to start a small business but do not have any idea about where to lend
loans.
How can blockchain consulting services guide you towards the next-gen revolution?
Blockchain was invented as the underlying technology behind cryptocurrencies. But, as of
now, it's booming and has become ubiquitous in every industrial process. As the leading brands have already delved into build blockchain technology solutions for their operations, the enterprises are now showering interests to build customized solutions for their processes. 
 
Blockchain consulting services can guide you through the entire process of implementing a blockchain framework in your business operations. Right from raising funds for the project to marketing, the professional team can take you seamlessly through the process of evolution. You may consider hiring a blockchain development company to build solutions rather than recruiting individual blockchain experts, designers, and
marketers. 
 
In the next-gen revolutions, there are potential key aspects that blockchain adoption would render its users. Let's go through the key features that are beneficial to enterprises with blockchain incorporation!
 
Blockchain adoption next-gen revolution!

Improves integrity & collaboration

Blockchain transactions are P2P and open-source network. This architecture of this
technology promotes direct transactions and globalized collaboration for businesses. With the integrity of information on the network, the members may be much clearer about data sharing and could have access to the updated information. 
 
Authenticity of data

In the blockchain solutions, the network nodes can completely take over their data with public and private keys. Network members can authorize people to view their information and revoke if misused. This feature of blockchain enhances the data privacy of users with complete ownership. 
 
Improves traceability

The blockchain ledger records the data transactions with the timestamp and chronological order. The data blocks are connected with hash and pre-hash values, making it traceable and immutable. The enhanced traceability of blockchain ledger makes it a perfect technological solution for the supply chain and manufacturing sectors. The transparency in the supply chain of goods can enhance trust among end-users. 
 
Addresses security of data

The data stored in blockchain utilizes hash algorithms and cryptography to maintain
high security. The SHA-256 algorithm converts the input data into an alphanumeric string that can never be decoded. The hash algorithms, coupled with cryptographic encryption of data blocks with hash values, make the data blocks secure. The consensus governance adds up to the security feature, making the entire ledger impossible to hack. 
 
Flexible across industries

The modern technologies out there are limited to the industries. Blockchain stands
out from the list and is flexible to render technology solutions across various industries. The major industries that have already adopted blockchain technology for its processes are fintech, insurance, healthcare, real estate, supply chain management, e-commerce, transportation, gaming, and entertainment. 
 
Blockchain is one such technology that can be adopted by every industry without any limitations for its processes. However, it takes ample time to build customized solutions for enterprises, which takes huge efforts, timeframe, and budgeting. The best way to incorporate blockchain solutions in industries is by portions. You can first implement blockchain solutions in the inspection or support operations, then scaled up to the entire process flow. To know more about the blockchain realm, stay connected with us!
Blockchain development Services Company
Blockchain is no more a buzzing word! The tech world has proven its true potential through various real-time project implementations in fintech, healthcare, supply chain,
rail freight, voting, gaming, real estate, energy consumption, and so on. Blockchain is considered as one of the notorious inventions since the inception of the internet. Common people may think the technologists create hype for this DLT, but it mimics the internet's growth rate in the last decade. 
 
Internet is the tech behind P2P transfers of information with centralized governance,
whereas blockchain transfers values in the P2P network with decentralized, community governance. In this blog post, let's look at the major industries that require adopting blockchain technology to their solutions!

Top 5 industries that are revamping its processes with blockchain technology

Supply Chain Management         

Supply chain management is a tiring and cumbersome process that lacks transparency in
product traversing, inventory management, quality control, and other operations. With 
blockchain supply chain solutions, the products can be tagged with IoT sensors or RFID tags to track the goods and record transactions. Blockchain powers up the transparency and quality of products with smart contract protocols in the supply chain sector. End customers can verify products' traversing, quality norms, and potential
counterfeits through blockchain supply chain management.
 
Digital Identity

The rising popularity of digital applications has opened the doors for globalized use-cases and potential information threats. As central authorities manage the applications, data breaches and information threats are increasing rapidly. Blockchain digital identity solutions are decentralized, and the chance of data breaches is low. Moreover, users can have complete control over their data, accessibility, authorization, and also they can revoke access whenever required. 
 
Quality Control

The supply chain of foods, beverages, and other agriculture outlets have no transparent quality norms and inspection. Blockchain-based quality control solutions can be customized with the regulatory norms based on the sector and operations. Automated smart contract protocols can enhance the quality inspection of products with the government-approved quality control officers as miner nodes. Blockchain infrastructure can also provide legitimate end-to-end traceability across the network nodes due to its immutability and chronological data recording.
 
Healthcare

Lack of integrity, interoperability, medical data history, fake or low-grade drugs in the supply chain are the major pitfalls in the current healthcare industry. Blockchain healthcare ecosystem can enhance the integrity, history of patient records with better privacy. The patients can authorize medical practitioners, research scholars, pharmacists,
and other third-parties to access their medical data with private keys. Patients can also revoke the address when their medical data is misused. As the blockchain medical supply chain is transparent, the miner nodes and community can prevent the misuse of drugs. 
 
Real Estate
 
Blockchain real estate solutions can ease the entire process of property transactions, title management, rental agreements, taxation, and other cumbersome processes. The real estate sector could avoid huge paperwork, single-point failures, fraudulent taxation
benefits, and much more. The average investors can also purchase a small portion of high-value properties through tokenization of assets. Smart contracts can transfer properties without any disputes between the entities. The legitimacy and transparency in the real estate sector can contribute to the country's economy to a greater extent. 
 
Final verdict!

Blockchain revolution is undoubtedly hitting our real-time applications. Undoubtedly,
major sectors are experimenting with pilot projects of blockchain adoption in their operations. Instead of hiring a blockchain expert, designer, marketing team to revamp your industrial processes, it's a better choice to approach a blockchain development services company!
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Jon Westenberg follows

  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
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