“The New Income Tax Bill, 2025, will redefine the taxation of house property income, particularly regarding deductions, set-off of losses, and the tax treatment of multiple properties,” said Niyati Shah, vertical head - Personal Tax at 1 Finance.

Know how your property would be taxed under new Income Tax Bill 2025 | Personal Finance - Business Standard

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Machine Economics Part 1: Finance’s Inflection Point

Inhuman Economics Part I: Finance’s Inflection Point The future economy will be barely recognisable to humans. Investment and economic decision-making, far from being under our control, will be so advanced in sophistication that human minds will be relegated to mere passengers in a cambrian explosion of novel, automated methods and financial forces. It will be difficult to even grasp the rules of the game. And behind everything, driving a paradigm shift unmatched in its breathtaking speed, will be legions of autonomous programs; evolving, transacting and traversing across a universe of Blockchains. Reality Check… Ok, so back down to earth for a second. That’s very different to what the economy looks like now. While today’s user interfaces are certainly improving, investing and transacting is still a very human and manual system. It still takes the same length of time to open a bank account as it did a century ago, and I still make some payments today that would arrive faster if I delivered a bag of cash by horseback. Nothing really happens without real people making instructions, checking instructions, approving and processing instructions, and then waiting… In this context, my above vision of an unrecognisable automated economy seems a long way off, but I think it’s closer than most believe. Exponential take-off is often hard to spot in the moment, even if we’ve seen it happen before.. Information Explosion According to a , the collective sum of the world’s data will grow from 33 zettabytes in 2018 to 175 ZB by 2025. If a full, 4-drawer filing cabinet contains about 1 gigabyte of text data, that’s the equivalent today of these filing cabinets springing into existence at the same rate that espresso cups of water go over the Niagra falls. At this rate, it would take just under 2 minutes for fresh data to exceed ALL of the data that existed in the world of 1986. Cisco study One filing cabinet filled as each espresso cup of water falls We all know what’s changed between 1986 and today to cause the explosion of this information economy. The decentralised Internet has allowed the creation, sharing, and publishing of data and content to proliferate exponentially, without the need for centralised publisher’s approval or printing equipment. Further, beyond blogs and cat videos, an ever-increasing amount of this information is now procedurally-generated, never to be seen by human eyes but instead the prized resource for an impalpable network of algorithms and APIs emerging from the hyper-connected fabric of cyberspace. IT innovation races on, constrained only by the imagination of the architect, be it man or machine. Back To Bankers So if the internet is a compelling example of how decentralisation liberated and supercharged the economy, the economy, by contrast, looks positively primordial. information financial So why haven’t we seen the same with finance? The traditional financial system is still just like the state of information before the internet. It is centralised, and a top-down system. In top-down systems, objectives start at a high level, and increase in complexity as that objective is broken down into smaller more manageable units. Most states, corporations, and other man-made systems are organised in this way. They’re easier for us to manage, understand and regulate, but the problem is that the scope and potential of such systems are constrained by early decisions made with limited information. Chance innovation and serendipity are less likely to occur. Actual end user feedback takes time to travel back up to the decision makers. Goals are inflexible and unresponsive to changing conditions. Most importantly though, top-down systems naturally create silo effects. Everything is partitioned and guarded. Bankers compete with their own colleagues for bigger bonuses. Managers zealously guard their resources and reach to hit their targets even if they no longer make sense. There is little incentive to collaborate, spend time on cultivating new ideas, or spend money on connecting or automating legacy infrastructure. Walls are everywhere in the financial system, between companies but also within them. Little wonder then that in today’s financial system most things work pretty much like they did a century ago. Humans still rule, and even early efforts in algorithmic automation (e.g. trading strategies) are confined to specific sectors and shrouded in secrecy. In finance, then, people generally have got used to meaningful global innovations like ATMs or credit cards taking decades to emerge, and as a result are completely unaware of the impending explosion of exponential change that’s about to occur. Blockchain’s Dehumanising Detonation Changes to the status quo that require some painful reversal before moving forward in a new direction don’t happen naturally, and rarely from the top down. It’s why societies undergo revolutions, incumbent companies undergo break-ups, and financial services are still bloated with rent-seeking humans extracting value and building walls. I don’t blame the bankers or rent-seekers; it’s perfectly rational human behaviour given this existing system. But those walls are about to come down. Blockchain is not a top down system. It doesn’t care about profits. It doesn’t need walls to protect itself. It doesn’t even really need people to work. It is decentralised, open, and apolitical. Essentially, it’s that critical financial piece we were missing; achieving for digital scarcity what the Internet achieved for digital abundance, and allowing for the transfer of value across an untrusted medium without the need for humanised financial silos. Together, these will merge to form a substrate for the emergence of a whole new economy. It will be a fully programmatic economy, compatible with automation, an economy dehumanised by A.I. . Without walls, human gatekeepers will become unnecessary. Machines will transact directly with machines. Data and predictions will be tradable assets. Economic development will be uninhibited by boardrooms or biology. And without these limitations, progress towards dehumanisation of the economy will be a detonation comparable to the Information Explosion that started in the late 20th century. The game will change, InHuman Economics will emerge, and our human needs will increasingly be only a minor parameter in the unfathomable system that emerges. Best we stick up for ourselves… Connectors & Compounders In this series I will try to unpack how I see this transformation unfolding. While it’s impossible to predict the exact sequence of developments, I can generally see innovations falling into two categories or dimensions, which I shall call and . will refer to ‘horizontal’ developments that level the playing field; breaking down walls and silos, bridging gaps, increasing velocity and collaboration through connectivity and interoperability. will refer to ‘vertical’ developments or layers that leverage Connectors to make impossible things possible; brand new capabilities that emerge from this substrate, enabled by the decentralised and inhuman properties of the system. Connectors Compounders Connectors Compounders Through these Connectors and Compounders effects, I expect the pace of change towards a dehumanised economy to be rapid and unexpected. Things are already happening, and while most people focus on crypto prices the foundations of the InHuman economy are being laid. (stay tuned for Part 2…) AndyMarch 2019 Originally published at https://www.andybryant.me on March 29, 2019. <a href="https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/href">https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/href</a>

InHuman Economics Part 1: Finance’s Inflection Point

Differentially Private Data Science - What, Why And How?

Millions of innovative tech ideas come up every year that can revolutionize industries and enhance human lives. These ideas emerge with a promise that could change the world if the right people work on it, and importantly, they get financial backing. However, a substantial portion of these ideas fail to make their way into the consumer's hands due to the lack of funding. Despite their potential to reshape the future, many innovative concepts fail to impress , thus unable to secure grants for their execution. investors Addressing the deficit in funding allocated for innovative ideas is a challenge that necessitates our attention and concerted efforts. Keeping that in mind, the Indian Government has taken the initiative to help the young geniuses of the country. In her Union Budget 2024 presentation today, on February 1, Finance Minister Nirmala Sitharaman highlighted a promising outlook for the tech-savvy youth, stating that "this will be a golden era" for them. Finance Minister Sitharaman said, "For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with a 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates." "We need to have programs that combine the powers of our youth and technology," the minister added. Finance Minister Sitharaman also announced that a new scheme will be launched "for strengthening deep-tech technologies for defence purposes and expediting 'atmanirbharta'." Speaking on new-age tech, Sitharaman said, "New-age technologies and data are changing the lives of people and businesses. They are also enabling new economic opportunities and facilitating the provision of high-quality services at affordable prices for all, including those at the ‘bottom of the pyramid.’" She also expressed her gladness about the fact that India is leading the way in "showing solutions through innovation and entrepreneurship of its people." She added that opportunities for India and its citizens are expanding at the global level. India is expected to surpass Japan and become the third-largest economy by the year 2030. The tech startups will play a major role in bringing Foreign Direct Investments into the country and generating employment for India's massive population of 1.4 billion people. The difficulty in convincing investors is one of the biggest issues faced by tech startups in developing countries like India and Vietnam. Some of India's startups rank in the top tier around the world in their respective fields and thus, have successfully created a reputation of Indian companies. In the Financial year 2022-2023, the total Foreign Direct Investment was $70.97 Billion, and total FDI equity inflows stood at $46.03 Billion. The Service and the Computer Software and Hardware sectors received the highest FDI of 16% and 15%, respectively. There have been many cases where a small startup was not able to expand due to the insecurities of the existing investors and their reluctance to take bold steps, but despite the restraints, the Indian entrepreneurs were able to bring their ideas into reality. They were able to bring products to the market which helped the people and also were profitable. Also published here

How India's New Budget is Helping Foster Innovative Ideas

Introduction How many times have you heard the word "AI" in 2023? There is a probability that you must have heard it too many times, especially with the popularity of ChatGPT. AI, which is an acronym for Artificial Intelligence, is a fast-growing phenomenon in today's world. According to statistics, . From education and health to entertainment and business, AI is reshaping our environment and our way of life. the global AI market is valued at over $136 billion and is projected to increase by over 13x over the next seven years At the same time, it is opening up new possibilities and posing new risks to the continued growth, welfare, and survival of mankind. In the modern world, AI is a rapidly expanding phenomenon. Statistics show that the global AI market is already worth over and is expected to grow by more than 13 times over the following seven years. $136 billion AI’s Basic Working Principle… Artificial intelligence is basically the capacity of a digital computer or computer-controlled robot to carry out actions frequently performed by intelligent individuals. Systems and tools that are built with AI can recognize, combine, and deduce information from a variety of data sources, including audio, photos, videos, text, and more, and they can also learn from this information. They can learn from prior experiences, generalize, use reasoning, find meaning, and adapt to new circumstances, which helps them become more intelligent. AI Tools Across 11 Different Sectors in the Modern World Most industries throughout the world—if not all—use AI tools and technology in some capacity. Although it mostly has some beneficial effects, there is concern that given how quickly AI is expanding and improving, and it may have the ability to eliminate many occupations. How accurate is that? But first, let's examine some of the well-known industries that have begun making major use of AI to make this determination. 1. Finance There are powerful AI tools that are used by a variety of financial organizations and even individuals in the areas of financial planning and analysis, assessing credit risk, fraud detection, trading, and investments, optimizing insurance claims processing, sales, and customer services, and digitizing historical files and documents, amongst other applications in the field of finance. Some of the tools include: A virtual assistant tool in the Bank of America mobile app that assists users with a variety of banking operations like checking balances, paying bills, and sending money, as well as balance reconciliation. Capital One also has a similar virtual assistant called  Eno, which notifies users of suspected fraud, price increases, or payment reminders. Erica: Enova uses AI technology to aid users have access to credit facilities and helps financial institutions to solve the challenges surrounding borrowers’ assessment through the provision of sound financial analytics. : Enova An AI-powered platform using data points to provide financial institutions with the data to conduct assessments on borrowers with little or no credit information : Zest : A technology that makes use of artificial intelligence to accurately process financial records like pay stubs, tax returns, and other related ones at a faster speed. Ocrolus provides a predictive model that helps financial institutions solve issues surrounding marketing, wealth management, fraudulent credit card transactions, underwriting, and business growth. : DataRobot an identity verification system that uses ML and AI to analyze and verify applicants’ data to ensure that the KYC details are accurate. : Socure 2. Blockchain Several techniques, including strengthening data security and privacy, improving data quality and trust, optimizing data processing and storage, creating data insights and value, integrating data across platforms and domains, etc., are employed by AI to reinvent and optimize the blockchain sector. Some instances include: - using AI and formal verification to authenticate the security of a blockchain, smart contracts, and web3 dApps. CertiK - which certifies and verifies valuable pieces of art and NFTs on the blockchain using AI. Verisart - which leverages AI to allow quicker transactions, more scalability, and less energy use. Matrix AI - employing artificial intelligence to examine cryptocurrency market movements and offer market insights for individual investors. Token Metrics - which employs AI to build a decentralized network of AI services that can communicate with one another and trade value on the blockchain. SingularityNET 3. Transport AI is revolutionizing transportation and supplying driving assistance. Some of the tools include: This company uses AI to power its autonomous vehicles and taxis for urban transportation. : Waymo Rapid Flow Technologies uses traffic management to deliver adaptive traffic signal control systems that lower congestion and pollution. This is done by analyzing traffic patterns, predicting traffic flow, and optimizing traffic lights using data and algorithms. : Rapid Flow Technologies Using AI, Uber apps are designed to find compatible drivers and passengers, calculate prices and arrival times, and offer safety features. These enhance passenger transportation services by personalizing travel options, streamlining pricing and scheduling, and enhancing customer satisfaction. : Uber Clear uses AI to build biometric identification verification services that let users use their faces or eyes as boarding credentials in airports.  This expedites airport security and boarding procedures in the aviation industry. : Clear With AI, Volocopter has been able to build its drone Taxis which will safely traverse the airspace, avoid obstructions, and land at designated places within a busy urban city. It offers a faster transportation system through congested streets by flying in the lower airspace with zero-emission. : Volocopter 4. Data Analysis One of the key industries using AI and machine learning is data analysis, which does so in a variety of ways, such as by analyzing unstructured data, producing data insights, streamlining data processing, integrating data across platforms and domains, and others. A few of the numerous AI tools that are used in data analysis include: A software program that forecasts data performance using artificial intelligence and suggests subjects based on prediction scores. : Tableau An AI tool designed by Microsoft for Data Analytics, Data Visualization, and Business Intelligence : Power BI A platform to analyze user data and offer insights and recommendations : Research AI An open-source tool to build customized data pipelines, workflow, and solutions for a range of data analysis task : KNIME An AI tool for analyzing and indexing a huge volume of data in real-time : Splunk 5. Software Engineering The coding and design industry is being reinvented and optimized by AI in several ways. Currently, programmers can generate, edit, optimize, check, and transform codes with the use of artificial intelligence (AI). Some of the AI tools available at their disposal include: A tool called , which can create code in common development environments, is , which is based on the GPT-3 standard. GitHub Copilot powered by the OpenAI Codex model A program called ** **utilizes artificial intelligence to examine code and identify flaws that would prevent it from running. Embold This tool is an app that provides programmers with comprehensive facilities to build, edit, and test codes and applications. Examples of popular IDEs include VS code, Eclipse, IntelliJ IDEA, PyCharm, Xcode, Android studio, NetBeans, Atom, Sublime Text, and Vim. The integrated development environment (IDE): An auto-completion tool that can be integrated into IDEs to improve productivity. This tool employs deep learning algorithms to predict the rest of the code a programmer is typing. : Deep TabNine : This AI-powered coding assistant using natural language, can generate codes, complete the function of the codes, and generate the summary of a function. CodeT5 Other AI tools that aid programmers include Google Bard, ChatGPT, AskCodi, Mutable, IBM Watson Code Assistant, Code-LMS, WPCode, and Amazon CrowdWhisperer. 6. Entertainment Although technically speaking, humans make up the majority of the characters, artists, and actors in the entertainment industry, artificial intelligence (AI) has begun to play crucial roles in the sector and is used in significant areas like generating, analyzing, optimizing, moderating, and personalizing realistic content for their audiences by using data and algorithms. Some platforms for entertainment that use AI are: aids artists in writing the lyrics of a song. It can write songs in over 100 languages. Lyrical Labs offers video analytics and insights across a variety of platforms, including YouTube, Facebook, Instagram, and TikTok. Tubular Labs is an AI-powered platform using machine learning algorithms to match licensed music with visual content. SyncFloor This is an AI video creation tool that can convert text data to video content. Lumen5: Other global organizations that inculcated AI into their products are Netflix__,__ which uses AI to adapt its streaming quality and bandwidth use to the customers' devices and networks; YouTube, which employs AI to search and eliminate content that breaks its community standards; and Spotify which utilizes AI for curating customized podcasts and playlists for its subscribers depending on their listening patterns. 7. Manufacturing This industry makes use of AI in several areas, including boosting predictive maintenance, streamlining manufacturing procedures, automating production duties, fostering production innovation, and more. The following are some instances of production platforms using AI in their operations: offers AI-based visual inspection solutions for a range of industries, including textiles, electronics, and the automobile. Landing AI for a variety of industries, including energy, mining, and transportation. Uptake leverages AI to offer predictive maintenance solutions. Uptake __c__an give solutions for the optimization of processes in a variety of industries, including the chemical, steel, and cement industries, by utilizing AI. __ m __ Petuu offers robotic picking solutions for a range of industries, including e-commerce, shipping, and the food industry. Covariant For generative design solutions across a range of industries, including architecture, engineering, and construction, leverages artificial intelligence (AI). Autodesk 8. Gaming AI may be used to create intelligent, human-like NPCs that communicate with players, forecast player behavior to improve game design and testing, provide lifelike images and audio, improve gameplay, and increase immersion, among other things. By using data and algorithms, it is also utilized to create, analyze, optimize, moderate, and personalize realistic material for their games. Several instances include: AI is used by to deliver statistics and insights for games across a range of platforms, including PC, mobile, and console. Unity AI is used by to recommend the best times to release mobile games as well as their prices and marketing techniques. Google Play In multiplayer games, employs AI to detect cheaters and block them. Steam 9. Healthcare AI activities in the healthcare industry are increasing by the day. Using systems like Natural Language Processing, Machine Learning, and deep learning algorithms, its impact is greatly felt, especially in domains such as; illness detection and patient care improvement, forecasting and epidemic prevention, medication discovery and development, personalizing and optimizing therapies, and much more. Some notable instances of AI in healthcare  include: The use of AI by to help oncologists diagnose and treat cancer. IBM Watson Health AI-powered tool to track and predict infectious disease outbreaks globally. BlueDot tool used to organize searches across billions of chemicals for possible drugs to speed up drug development. Atomwise Provision of individualized treatment plans by to provide patients with chronic diseases. Wellframe The Future In the years and decades to come, AI will become the centrepiece of innovation in the world, ushering in growth and influencing the world in ways that pave the way for enormous possibilities as well as threats to humanity's progress, prosperity, and the very existence. Possible outcomes may include: More individuals and businesses making use of AI's capabilities and applications as it becomes more widely available and democratized. It is expected that its interaction and synergy with other technologies like cloud computing, 5G, IoT, blockchain, and quantum computing will birth new realities. Advancement to the point where it can generate its content, goods, and services without human intervention. This advancement may accelerate to the level where it will be able to learn from its own experiences and those of other AIs, leading to novel kinds of intelligence and cooperation. A greater influence, transformation, and disruption across many fields and businesses. In conclusion, the development of AI has an inevitable future. It all comes down to how researchers plan, build, implement, and regulate AI systems. How well we adjust to the new opportunities and threats that AI presents will tell how deeply AI will twist our realities. To create the kind of future we want for artificial intelligence, we must be proactive, collaborative, and inclusive.

AI Tools That Are Reshaping The Modern World Industries

Built on open-source software, in a transparent degen-ridden environment where activity is irreversible and without legal recourse, Defi is a honeypot of massive value that is laden with risk. Existing at the intersection of finance and technology, DEFI has been heralded as the frontier of innovation and the solution to the woes of the traditional financial system. Over the last few years, a tsunami of protocols and applications have come to market, harping on this promise, all claiming to provide some kind of unique value proposition that will enrich the lives of its user and protect them from the evils of legacy finance… Assuming that these projects did have good intentions the moat of informational asymmetry due to the complexities of the technology itself creates an enormous spread between truth, security, and reality. Moreover, DEFI inherits the underlying primitive of sovereignty from crypto, where the responsibility of asset ownership and management is entirely in the hands of the users, a level of responsibility that consumers have never been faced with before. (which most of them don’t) While this noble, utopian mission has attracted the attention of people from around the world and drawn in hundreds of billions of dollars in TVL, it has not been able to express the full scope of potential implications during its development. Even though all of the experimentation that has been taking place has flooded networks with more value, the level of security in the industry has not changed at all. (arguably, with Ethereum moving to POS it might have even degraded). Therefore the only genuine way to protect yourself and your assets from the whirlwind of fuckery that is monitoring your wallets and trying to steal your money is by equipping yourself with knowledge. Sure, it may not sound sexy. But if you can understand the fundamental touchpoints that can cause financial ruin, you will be far more emotionally prepared and most likely much wealthier. So without further ado, let's put into focus how genuinely broad and varied the surface area of risk in DEFI really is. MEV (Maximum Extractable Value) Ah, the good ole . art of on-chain extortion MEV is a contentious topic in the world of crypto. Perhaps nowhere more so than in the DEFI sector. Simply put, MEV is a botnet that is looking to front-run your transaction and squeeze out any potential excess value, that should trickle back to you. Imagine paying for a $17 shirt with a $20 bill and the clerk at the register told you there is no change because of the physical entropy he has to exert in order to manually organize the bills… In DEFI, every single function from lending to trading is subject to MEV. These pretentious bots can reorganize/sandwich/delay your transactions, prioritize their own, and force you to miss opportunities. The best way to engage in on-chain finance is minimally; try to reduce the amount of interactions that must be done. Oracle Manipulation Given that DEFI protocols depend exist in blockchain environments that are not aware of information that exists outside of themselves, they need a method by which to get their data from somewhere. This is done through oracles. Oracles are the connective tissues between on-chain and off-chain data. They are pipelines that funnel information from the real world into the digital economy. Whenever you go to an exchange like Uniswap and see the price of Ethereum, what is happening behind the scenes is that Uniswap is asking an Oracle network (chainlink) to quote you a price from trusted sources. That Oracle then scans/queries other venues that provide the requested data point (Binance, KuCoin, 1inch, etc) and provides a spot price to trade at. In this process of receiving a request, going to find the request, and fulfilling the request, subversion exits in two general ways: 1) Origin of Data is corrupted. The sources from which oracles get information collude to produce fake information or their servers are hacked and the data is spoofed. Chainlink might trust Binance for ETH price, but what happens if the information on Binance does something egregious (wicks the price 10x)? 2) Oracles themselves are corrupted. Given how valuable the information that oracles provide is, it is not outside the realm of consideration that the oracles could be provoked through incentives by external forces to provide incorrect information. Smart Contract Bugs The most fundamental form of risk exists in DEFI. Smart contracts may be mathematically sound, but when their hard-coded structures are met by extremely savvy hackers that can identify logical loopholes and find exploits to drain protocol liquidity, cause mass token minting, or manipulate protocol functions, it is the end user that ends up paying the ultimate price. Besides being subverted by malicious entities, poorly coded contracts might just result in internal systemic failures. A function that is accidentally defined incorrectly can result in an error that locks liquidity permanently or a single line of code that does not map the relationship between token owners and their rights to send the token can freeze assets in wallets with no ability to ever move them. Logic that might hold up in a closed alpha on a testnet somewhere will not be the same as the logic in a public mainnet. The ultimate combination of the two smart contract failures can be seen with the painful example of Terra/Luna (r.i.p. billions of dollars). Price Volatility You might have heard this one before, crypto assets are volatile.. very volatile. Where traditional financial instruments, such as stocks, might swing +/- 3% in a day, it is totally normal for a crypto asset to swing upwards of +/- 15% in that same day. When it comes to DEFI, we're not talking about the price risk you have regarding just holding an asset, we are talking about how the price movement can impact the more exotic forms of portfolio exposure. There are two general classes of this exposure: (impermanent loss) 1) providing liquidity When tokens are provided to an AMM and the price deviates from the exact rate at the moment of deposit, impermanent loss takes place. If ETH is at $2,000 and somebody provides liquidity to an ETH/USDC pool they would supply an equal amount of 1ETH+$2,000 USDC. Doing so would obviously incur basic transaction costs, already putting them in the hole, but then if the price of ETH rises to $2,200 then the user will only be entitled to claim 1.1 ETH + $1,800 USDT. Considering there would be another basic transactional cost incurred the user would have to be exposed to an unknown duration of providing liquidity to cover those base costs from the generated yield. Moreover, the user would have to now go through more intermediaries in order to balance out their position proportionally (selling the 0.1eth for USDT). The reason this is called impermanent loss is whenever price fluctuations exceed the returns that could have been had by simply holding the asset. Think about it, the person who provided liquidity provided $4,000 worth (1ETH @ $2,000 + $2,000). When they withdrew, they got $4,000 worth (minus fees). If instead of providing the liquidity they had just held the same assets they would have $4,200 (1ETH @ $2,200 + $2,000). (liquidations) 2) lending/borrowing Image ETH is trading at $2,000. Say you want to borrow $2,000 USDT. In order to do this, you must provide excess collateral in ETH to take the loan. So you lock up 2 ETH ($4,000) and take out the loan. Next week, ETH plummets to $1,000. Now the collateral you posted is worth $2,000; a level that is algorithmically considered risky (if you only have $2,000 worth of collateral for a $2,000 loan, you are not incentivized to pay it back). To protect the lender, your assets get market sold (likely at $1,100ea) and you're stuck with $1,000 instead of your original 2 ETH. Underlying Blockchain Mishaps Even if a protocol is designed properly and everything seems to be working fine, there is a not-so-subtle dependency of that protocol on the network to which it is deployed. Validators behaving out of line, consensus mechanisms proving to be inadequate, and sudden outages, among other things can trickle up the stack and result in damaging effects to the DEFI users. Governance Issues As a decentralized entity, a DEFI project must have some form of governance in place to steer the project’s development and oversee its operational specifications. In the event of a sudden revolt from the governing committee that results in some radical parameter adjustment holds the DEFI user in a perpetual limbo of uncertainty. While most of the time the governing body will be aligned with a vision of progression, that vision is highly subjective to interpretation. Not to mention that flash loan attacks have taken place where proposals are forcefully pushed by entities that acquire large enough token amounts on the open markets just to vote on their own proposals. Social Engineering Wicked, evil, and disgusting. There are no heroes in this industry. Everybody is fighting for themselves. The insane majority of projects simply do not give a sh*t about you. Scammers will create the most elaborate systems to subvert your conscious mind. They will pretend to be representatives from a project or exchange you are involved with. They will call you, text you, email you and do anything else possible to trick you into doing some kind of action. The most common forms of social engineering are: 1. Pretending to offer you free tokens. 2. Pretending they are official reps from other projects. 3. Asking you for help through a DM and offering a reward. 4. Telling you they can help you make money. 5. Sending you a link to click… . (this is financial suicide) If anybody contacts you about anything remotely related to the above. IGNORE them. If you feel worried about anything, opt to go directly through the official interfaces (website/app) that you use and reach out to the projects. Official moderators/admins will not initiate contact with you directly without your prompting. Misrepresentation (Rugpulls) Still in its infancy, this sector lacks any standard framework of definitions. So many idiotic projects throw around buzzwords in an attempt to sound convincing and tempt unknowing users. One of the most painful to watch is when a Memecoin starts offering people a DEFI ecosystem for NFT financialization that can help solve the interoperability problem between blockchains. If the last message made sense to you, beware, you will be taken advantage of. If you caught on the stupidity of it, kudos you are protected. The misrepresentation of intentions is called a Rug Pull. As the name might hint out, people put money into a project and then the rug gets pulled right out from under them. Shadowy super coders create fake contracts to collect money and then at some point just “poof” and disappear with the funds. As a general rule of thumb, if a project’s slogan/mission statement is chock full of buzzwords, stay TF away. There are many more complex security vectors that arise whenever interchain operations are introduced and advanced multi-lingual social engineering tactics are considered. All that matters at the end of the day for your safety is the understanding that risk does not get removed with blockchain architecture, it is merely transformed into a new type of risk. DEFI’s siren call is the displacement of human infrastructure with automated smart contract infrastructure. Trading off human error with mathematical logic. Even though intuition might guide us into believing that mathematics is more reliable than humans, the truth of the matter is that humans have room to correct errors, mathematics does not know the difference. Therefore, the risk profile of this transition of trust is nearly impossible to quantify. Just don't forget that there is no such thing as a safe investment in crypto. May your journey through decentralized finance be fruitful and may your bags always be protected. Stay safe out there! Also published . here

The 8 Dangers of DEFI That Nobody Talks About

Python and Finance: How to Level Up Your Spreadsheets

By Samuel Lett, Launchway Media Brazil is a nation of magical realism and vibrant communities, yet also of political corruption and economic unrest. Brazil is the largest country in Latin America — both in landmass and population — and holds an influential position on the global stage. After the United States, Brazil tops the list of total Facebook, Twitter, and YouTube users. Moreover, there are more mobile devices in the region than human inhabitants. Regardless of the current state of affairs, the financial technology (fintech) sector is booming in Brazil. According to , Brazil is the largest fintech hub in Latin America with over 188 new startups in the past 18 months. The industry has grown to capture the attention of giants such as Goldman Sachs, Sequoia Capital, and Visa. With the current regulatory structure, economic standings, and political scene in Brazil, the Brazilian fintech industry is on course to become an unstoppable global force. Finnovista Why is Fintech Booming in Brazil? The major banking crashes in the 1980s and 1990s caused Brazil to place heavy regulations and controls on the banking industry, which in turn, have created stability as well as hurdles for any financial startups in the nation. According to , senior associate at the Veirano Advogados law firm, five major banks hold around 84% of all loans and 90% of retail branches in the country; yet, 35% of Brazilians above the age of eighteen do not have a bank account. that “consumers often find themselves with very negative customer experiences, significant barriers and impediments, such as extremely high annual percentage interest rates, which can go up to 450%.” Bruno Ramos de Sousa Finnovista reports Despite the numerous hurdles, there has been a huge upsurge in fintech. As of May 2018, there are in Brazil dealing with payments, investment, insurance, financial management, blockchain, and more. , senior vice president of Moody’s Investor Service adds that “lenders are also attracted to digital banking because they see opportunities to reduce costs as Brazil’s economy remains weak after a protracted recession.” Amid political corruption and scandal, and thanks to modernization and the rise of the Millennial generation, Brazil’s fintech ecosystem has become the most fertile in Latin America. 377 fintechs Ceres Lisboa Who are Brazil’s Biggest Players in Fintech? NuBank Launched in 2014, Nubank aims to fight complexity and help people gain control of their finances. The fintech startup began its payment card operations offering no-fee digital savings accounts, unlimited peer-to-peer transactions, and no-fee transfers to any bank in Brazil. In June 2018, NuBank exceeded and reached 1.5 million digital accounts. Most recently, the company announced that their products are available to any Brazilian with a smartphone. It now has the largest customer base of any digital bank globally outside of Asia. four million credit card customers Pagar.me Founded in São Paulo in 2014, Pagar.me attempts to create diverse payment solutions while helping to make all types of payment accepted on the Internet. The company has the best API in the market and enables businesses to use major credit cards such as Visa, MasterCard, HyperCard, Diners, and AMEX. Creditas Formerly known as BankFacil, the digital credit platform focuses on secured loans and has over 3.5 million customers. Inspired by the fact that Brazilian consumers paid over on consumer loans, Creditas was born. The company operates through a banking-partner model and specializes in collateralized loans. Creditas had a $135 million loan book last year is projected to grow 30-fold in the next three years. 200% interest rate GuiaBolso As the leading mobile personal finance platform in Brazil, GuiaBolso has over four million users of their #1 finance app in the App Store and customer credit marketplace. The credit marketplace was launched later in 2016 and offers personal loans from partner banks. GuiaBolso has plans to improve their app and further expand their credit offerings and product line to include investments and credit cards. Ebanx Based in Brazil, Ebanx is a cross-border payment processing firm connecting e-commerce merchants across Latin America. Recently, Ebanx raised US$30 million to develop more projects. Some of Ebanx’s primary partners include Airbnb, AliExpress, Spotify, and Udacity. The Future of Brazilian Fintech With international investments and help from Brazil’s central bank, there’s no turning back for fintech in the region. that if the current market behavior continues the fintech sector could produce up to $24 billion in profits within the next 10 years. Furthermore, in June , expressed the bank’s strong commitment to fintech and noted that, “a new regulation would lead to a further development of the ecosystem within a legal framework.” Outlooks for the industry remain positive; however, entrepreneurs hope for more legal regulations (similar to ) to ensure prosperity. Brazilian fintech should remain on the radar as it continues to capitalize on its popularity and success. Finnovista estimates Octavio Damaso, director of Brazil’s Central Bank the Mexican law approved in March For more on fintech in Latin America, visit our . blog Originally published at www.launchwaymedia.com . Image source

Everything You Need to Know About Brazil’s Fintech Industry

A lot of people believe that the blockchain technology is the next revolution, just as the internet has changed every aspect of the business world a long time ago. Blockchain, originally developed for Bitcoin, is a distributed ledger that tracks transactions, connecting them to other transactions nearby and securely keeping the information. This technology has proved to be the larger value of cryptocurrencies, with implications for almost every industry, not just tracking digital currency. Not only the blockchain is changing industry norms, but it’s also changing organizations’ opinion on how to start new projects. As organizations aim to disrupt many industries, it will be crucial for them to implement blockchain technology due to its potential to spark rapid progress across every industry. Here are four everyday industries that blockchain technology is disrupting: 1. Finance When it comes to finance, there are a lot of different opinions about how will cryptocurrencies change the future of economics. By the end of 2017, futures markets had been created for Bitcoin, indicating a long-term future for Bitcoin and for other cryptocurrencies. Moreover, 2017 was the year when the Initial Coin Offerings (ICOs) raised more money than the venture capital investments. As Bitcoin, Ethereum and Ripple continue to improve their skill to process transactions faster, these cryptocurrencies will soon compete with the speed at which credit card companies can process transactions. It’s possible that the blockchain will do to banking what the internet did to media. It can be used to give access to financial services to billions of people around the world, including those who don’t have access to traditional banking. Bitcoin allows anyone to send money across borders instantly and with relatively low fees. Many banks are working on adopting blockchain technology to make their business operations faster and more secure. Banks are also increasingly investing in blockchain startups and projects. 2. Real Estate Those who have purchased or sold a home know how much paperwork is involved in the real estate transactions. Blockchain technology can completely change the current process that is involving a lot of documentation. By using blockchain, all of the documents and transactions can be stored securely with less work and less cost. The use of blockchain can also eliminate the escrow process. The blockchain technology can create smart contracts that release funding only when the conditions are met. Additionally, many people in the process of working with a real estate agent know how frustrating the commission rates can be, with many charging up to 6 percent. 3. Healthcare Another industry that is disrupted by the blockchain is healthcare. The hospitals need a secure platform for their data, because they are often victims of hacking. Blockchain technology can enable them to safely store data (such as medical records) and to share it with the patients. This will improve the security of the hospitals as well as the speed of diagnosis. Imagine having a secure network of records about your health information — from the day 1 to the end of your life. Blockchain can enable that — it is possible that all our health data (such as doctor visit records, prescriptions, emergency room visits, shots, X-rays, insurance, etc.) will be stored in one place and will be easy to share them from one doctor to another. This system could save your life. Emergency doctors will be able to access information about allergies, blood type, and genetic information, to make decisions about your care if you were unable to communicate. This system could revolutionize the way of improving health outcomes in some countries that do not currently have a centralized or digitized health record database. And the last but not least… 4. Energy sector We have previously talked about using blockchain in the energy sector. Today, energy suppliers and consumers cannot buy it directly from each other, and have to go through the public grid or a trusted private intermediary. The world’s demand for energy is growing each day, and the companies need to ensure that their operations are as secure and efficient as possible. Blockchain can save them time and money in the process and will change the way they produce and consume electricity. Smart contracts create practical, fast and safe transactions directly from buyer to seller, removing third parties. They will signal to the system when to initiate what transactions. Also, blockchain has potential to overcome the barriers that limit the delivery of electricity to more customers. Blockchain technology can create a huge and transparent place for transactions in the energy sector, so that the electricity will be more accessible to more customers all over the world. For that reason, we recommend you our platform . It is an advanced blockchain-based electricity trading platform that allows users to trade electricity in a faster, safer and cheaper way, by utilizing the EPC token smart contract. Energy Premier Energy Premier gives the power over energy back to the people through blockchain and decentralization. The platform enables direct access to the retail energy market to suppliers by eliminating multiple intermediaries and taking out distance as a limiting factor to trade, which then results in lower prices for the consumers. Through the blockchain technology on Energy Premier, the electricity market will become decentralized and improved, and it will be easier for the consumers to trade electricity due to the peer-to-peer transactions. This will create a huge potential for the electricity suppliers and consumers in the energy market. The electricity trading based on blockchain will bring many benefits such as transparency, safety, and low transaction costs in short time. We are currently launching a pre-sale and an ICO that will start at September 21st. to learn more about our project and our mission. Click here Thank you for reading!

Here are 4 everyday industries that blockchain is disrupting

by BlockEx 1. Finance Industry Condemns Google’s Crypto Ban Executives from the finance industry have Google’s crypto ban, which we previously . Google was followed by Facebook and Twitter. Ads on ICOs and cryptocurrencies, along with crypto exchanges, trading and wallets are no long permitted. The ban has been labelled an ill-constructed, as well as unethical. Blackmore Group CEO Philip Nunn noted that both Google and Facebook showed interest in both blockchain technology and cryptocurrencies. We even previously on Twitter CEO Jack Dorsey stating that Bitcoin would become the world’s single currency in 10 years. Furthermore, Nunn also added that other kinds of ‘unethical’ products are still being advertised on these platforms. condemned covered reported 2. South Africa Central Bank Has Successfully Tested Blockchain Payments The South Africa Reserve Bank (SARB) has published a on its project Khokha, exploring the successful test. The news was announced through the release of a . The idea behind project Khokha is to recreate a DLT-based wholesale payment system using a Proof-of-Concept. This would give participants practical experience, which they would then employ in real life situations. During the trial, the payment system processing time went down to two seconds from the usual two hours. However, in the report, it was noted that there are many issues which must still be dealt with before an official replacement can be considered. SARB of this project back in February. report statement announced the launch 3. Crypto Startup Circle Wants To Become a US Licensed Bank Circle, a crypto startup backed by Goldman Sachs, is interested in . In an attempt to increase the number of services offered, the startup is pursuing a federal banking license. Furthermore, a registration as a brokerage and trading venue is also on the table. If granted by the Securities and Exchange Commission (SEC), tokens which fit the description of securities would be tradable on its platform. The registration with SEC is set to be prioritised over the banking licensing. Thanks to the initiative, Circle would rely less on traditional holders. becoming a US licensed bank 4. NY State To Pilot Local Cryptocurrencies? This Is What a New York Assemblyman Wants New York Assemblyman Ron Kim is calling for the in an attempt to help local communities. If passes, local community currencies would be issued through the launch of 10 pilot programs. The currencies in question would be cryptocurrencies or other digital forms of money. The neighbourhood-based ecosystems would benefit as a whole, since customers would be encouraged to shop locally. Kim said that job growth would benefit, and this would have a long-term social impact on the various communities. state of New York to pilot cryptocurrencies Bill A11018 This news roundup was brought to you by . BlockEx To receive our daily news roundup in your mailbox, sign up here: http://bit.ly/BlockExNewsAndUpdates

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