Facebook Bans Cryptocurrency Ads

facebookCryptocurrency ads appeared to have taken center stage on the social media towards the end of 2017 due in large to the surge in Bitcoin demand and the rise of the first cryptocurrency in human history to hit almost $20000.

So a whole of people and businesses have taken to the Social Media, Facebook in particular to advertise their Cryptocurrency offers, especially investments and Initial Coin Offerings (ICOs). There is no doubt many of these are only out to scam the unsuspecting. There are lots of ICOs without White Paper on the coins they’ve created, and this is a pointer to what might look like a scam.

However, there are other ads on Facebook that are aimed at educating and empowering the people on how blockchain works.

Advertisers woke up this morning to realize that their ads on Facebook have been banned. There is also the drop in Bitcoin as a result of the Media misinterpretation of government’s regulation speech. There was the news by a government representative in India that government will not recognize cryptocurrencies as legal tender.

Facebook, in my opinion is doing its best to protect the users. Many are really out to scam the unsuspecting. But there are advertisers with good intentions as well.

I will be writing more on what this action by facebook holds for all of us and the cryptocurrency advertisers. For those that bought Bitcoin when the price was high above $10K I feel for you. But I think that investors can begin to apply the Warren Buffet rule of being greedy when everyone is fearful and fearful when everyone else is greedy. If time permits me , I might also do some analysis technically on where we could expect Bitcoin in the coming days.

 

 

Benefits of Blockchain Based on the Concept of Provenance

For many blockchain enthusiasts there is a lot of learning required to not only be ahead but get it right in the blockchain spaceBlockchain. Businesses and business organizations need to understand the real benefits of moving their businesses to the blockchain. There is the absolute need to be convinced just the same way we were convinced the Internet was the way to go before businesses started accepting the Internet migration.

In this piece I want to in a few lines state some of the benefits of the blockchain based on one of the five properties of the blockchain technology. There are actually five properties of the blockchain technology, namely; Provenance, Consensus, Security and immutability, High Availability, and Finality.

Each of these properties offers their respective benefits to the user of the blockchain technology. My intention here is to simplify the benefit of the blockchain to businesses, to the society, to the environment and to the customer or consumer.

Provenance: First, what is Provenance?

In blockchain technology it is called digital provenance. Provenance refers to the origin of things, tracing or tracking events or transactions back to their very origin to ascertain originality, authenticity and credibility of such events or transactions. When digital provenance is activated in the blockchain a number of benefits accrue to businesses on the blockchain, the society, the environment and the end-user customer. The following are the benefits I have identified we can get in the blockchain through digital provenance.

Benefits to Businesses: Incentive for Businesses to Invest in Blockchain tracking raw materials origin include but may not be limited to  Cost-Saving, increased profit, trust and reliability will increase for the finished product. Compromise and corruption in raw material procurement is eliminated through Provenance.

Benefits to Society: Society becomes more away of the sources and origin of what they consume before they even buy. This leads to a healthier and confident society. Best quality consumption by society is almost 100% guaranteed.
Benefits to the Environment: We will have safer environment since dangerous sources of raw materials are discovered and steps taken to either correct or eliminate them.
Benefits to End-User-Customers: Customers or end users will enjoy right quality and quantity of finished or consumer goods and service delivery. It simply means that before a customer pays for any goods and services, through digital provenance, he or she will be able to verify whatever claims made by the seller or manufacturer, as all these are already documented and cannot be removed from the blockchain.

Blockchain and Your Profitable Future

Blockchain is gradually revolutionizing the digital space. How many industries and folks are going to be affected in the coming revolution?

At some point in history we couldn’t write articles unless you were a journalist. In those days I remember writing an article and had to go the post office to post to the newspaper company. The article took another one month or so (to be modest) to be published in the newspaper in the Children’s column. This was when I was in primary school I guess. Then if you would write an article for a newspaper, it would take days, weeks or even months to get to the publishers.

Then came the internet and blogging-now you can write your article today and publish same day on your blog without delay or approval from anybody so long as you own and control your blog space.

When the internet was invented I am sure the inventors never knew how big it was going to become ultimately. Gradually it moved from the internet of lines and dots to the Internet of Information and information began to travel at light speed from one part of the world to the other.

Something phenomenal happened to the photography industry which Kodak was the leader for over a century. In 1975, a new staff of the company Eastman Kodak by name Steven Sasson invented the first digital camera. But the company failed to build on that invention for fear of competing against itself. Fast-Forward to some three decades later, Kodak that in 1998 had over one 175000 employees filed for bankruptcy in 2012. That was a grand disruption to a company whose own invention took out of business because they did not believe in the invention in the first place.

The Internet has moved from the Internet of Information to the Internet of Things (IOT), and we now are talking of Internet of Value where real value is now exchanged on the internet at the speed of light.

Uber has already disrupted the taxi industry as AirBnB is disrupting the short time accommodation industry with hotels.

The question is, what and who is next to cause disruption and to be disrupted?

Blockchain is about to, sorry is already disrupting industries. Yours could be next.

The banking industry has not found it easy with Bitcoin and cryptocurrencies. PayPal even admits that indeed Bitcoin and Cryptocurrencies are indeed causing a great revolution.

I am not here to suggest that you buy bitcoin, or any cryptocurrency as many are advising that you buy into ICOs now. My mission is simply to encourage you to invest some time to learn about this Blockchain and what the Future holds in it for all of us and our businesses.

You need to know from my point of view at this point the following 7 Important Things About the Blockchain to Profitably Key into the Future of the Technology.

Don’t take this call for granted because even Artificial Intelligence is already creating Blockchain. Let that give you an idea of what the future holds.

They are in no order as follows:

  1. From Internet of Information to Internet of Things
  2. What is This Blockchain all About?
  3. How Blockchain works
  4. Blockchain Disruptions-Are You Also Disrupted?
  5. Why You Need to Care About Blockchain?
  6. The Future of Blockchain and Your Future
  7. How You Can Profit from Blockchain