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While full homomorphic encryption (FHE) was originally achieved in 2009, it's starting to receive more attention now that computing power has caught up to its computational demands; however, the goal of homomorphic encryption goes back a decade. A cursory search will find multiple definitions for it. This is the most direct and succinct: A form of encryption that allows computation on ciphertexts generating an encrypted result that, when decrypted, matches the result of the operations as if they had been performed on plaintext. — Massimo Bertaccini ( ) Cryptography Algorithms Consider that statement for a moment. Homomorphic encryption enables operations to be performed on encrypted values such that the decrypted results produce the result of the operations as though they were performed on the original unencrypted values. The earliest mention I found is (1978) in which the authors are attempting to prevent sensitive financial data stored in an on-premise system from being accessed by system programmers using a remote time-sharing service. On Data Banks and Privacy Homomorphisms Sensitive financial data is stored in the data bank. Time-sharing services that compute the data do not implement adequate security. System programmers have access to financial data. The paper states: Use a special privacy homomorphism to encrypt its data so that the time-share computer can operate on the data without the necessity of decrypting it first. To put it another way, I want to delete the of my data without giving away to it. processing access To put it another yet another way, function(A, B) = function (A ) where A are encrypted values of A and B, respectively. This enables third parties to compute encrypted data and provide the results without having any knowledge of the original value. With RSA, two values encrypted with the same key can be multiplied, and the product can be decrypted yielding the product of the encrypted values. , B &nbsp;and B Obtain 5_6 using RSA(5)_ RSA(6): RSA(5) = (5^17) mod 3233 = 3096 RSA(6) = (6^17) mod 3233 = 824 3096*824 = 254864 RSA^-1(254864) = 254864^2753 (mod 3233) = 30 5*6 = 30 However, this does not work for addition. RSA is a Partially Homomorphic Encryption (PHE) scheme in that it supports only multiplication. The timeline below shows the progression from (PHE) schemes through Somewhat Homomorphic Encryption (SHWE) which permits limited combinations of addition and multiplication. These operations could be repeated up to five times before reaching an invalid result. Then along came the first FHE scheme from which enabled repeated addition and multiplication without fidelity loss. Craig Gentry Homomorphic Encryption Libraries Since 2009, FHE schemes and libraries have proliferated. Library Schemes Language License Microsoft SEAL BFV, BGV, CKKS C++/C# Wrapper MIT Open FHE BFV, BGV, CKKS, DM, CGGI C++ BSD 2-Clause License HEAAN CKKS C++ Creative Commons 3.0 TFHE TFHE (Torus) Rust BSD-3-Clause-Clear Concrete TFHE Rust BSD-3-Clause-Clear Lattigo BFV, BGV, CKKS Go Apache 2.0 Intel Homomorphic Encryption Toolkit N/A – Uses SEAL, PALISADE, HLib Python,Docker Apache 2.0 Microsoft SEAL (Simple Encrypted Arithmetic Library) is developed in C++ 17 along with a C# wrapper. Originally released in 2015, it is still under active development. The includes that should be explored if you are interested in diving further. github repo in-depth C# examples These schemes are supported by SEAL and include homomorphic operations for addition, division, subtractions, and exponentiation, but not division. Brakerski-Gentry-Vaikuntanathan (BGV)/Fan-Vercauteren (BFV) Whole numbers (long) Use if precision is a requirement Computation is slower than CKKS Values encrypted with BGV can be used with values encrypted with BFV Values encrypted with BGV/BVF cannot be used with values encrypted with CKKS Revisiting Homomorphic Encryption Schemes for Finite Fields Cheon-Kim-Kim-Song (CKKS) Floating points (double) Use if precision is not required Values encrypted with CKKS cannot be used with values encrypted with BGV/BFV Computation is faster than BFV/BGF Encryption and Computation with Microsoft SEAL These examples use the Nuget package and the CKKS scheme. Health trackers, like FitBit and AppleHeath, require giving up some privacy. They collect personal information like the number of steps and geocoordinates of the wearer's movements, heartbeat frequency, and other vital statistics. With homomorphic encryption, these health metric aggregators can still operate on our data without having access to the raw data. Microsoft.Research.SEALNet In this simple example, the client sends run metrics including distance and time. The server aggregates the encrypted data and computes the average speed. To get started, a public key is created by the client and shared with the server. It is used to encrypt data and also to perform arithmetic operations on encrypted data. Both client and server use an The client generates and retains a private key used for decryption used by the aptly named . Encryptor. Decryptor A malicious party that intercepts the data could use the public key on the encrypted data and return it to the caller by spoofing the server. The server should sign the result and the client should verify the signature to ensure it's being returned from a trusted party. using Microsoft.Research.SEAL;
protected SEALContext _context;
private KeyGenerator _keyGenerator;
private Encryptor _encryptor;
private Decryptor _decryptor;
protected IFitnessTrackerApiClient _apiClient;
. . .
_context = SEALUtils.GetContext(_config.Value.PolyModulusDegree, this.SchemeType);

_keyGenerator = new KeyGenerator(_context);

_keyGenerator.CreatePublicKey(out PublicKey publicKey);
_keyGenerator.CreateRelinKeys(out RelinKeys relinKeys);

_encryptor = new Encryptor(_context, _publicKey);
_decryptor = new Decryptor(_context, _keyGenerator.SecretKey);
. . .
PublicKeyModelCKKS keyModelCKKS = new(
  SEALUtils.KeyToBase64String(_publicKey), 
  SEALUtils.KeyToBase64String(relinKeys));
    await _apiClient.SendPublicKeyCKKSAsync(keyModelCKKS); Relinearization keys are passed from client to server. Per Microsoft SEAL, they have no semantic meaning other than to reduce the size of following a multiplication operation. Ciphertext At the command line, the user enters time and distance. Each value is encoded to then encrypted to , and finally encoded to base64 prior to sending it to the server. PlainText, Ciphertext using Microsoft.Research.SEAL;
var plaintext = new Plaintext();
_encoder.Encode(value, _scale, plaintext);

var ciphertext = new Ciphertext();
_encryptor.Encrypt(value, ciphertext);

using (var ms = new MemoryStream())
{
  ciphertext.Save(ms);
  return Convert.ToBase64String(ms.ToArray());
} Since homomorphic encryption schemes don't support division (CKKS is no exception), the client needs to give the server an assist. The formula for speed is: distance/time Another way to write it is, distance * (1/time) So, the client sends: RunItemCKKS metricsRequest = new(
  EncryptBase64(runItem.Distance), 
  EncryptBase64(runItem.Time), 
  EncryptBase64(1 / runItem.Time));

await _apiClient.AddNewRunningDistanceCKKSAsync(metricsRequest); The server performs a similar bootstrapping function creating a using only the public key and re-linearization keys, then processes the request: SEALContext var distance = SEALUtils.BuildCiphertextFromBase64String(request.Distance, _sealContext);
var time = SEALUtils.BuildCiphertextFromBase64String(request.Time, _sealContext);
var timeReciprocal = SEALUtils.BuildCiphertextFromBase64String(request.TimeReciprocal, _sealContext);
Ciphertext speed = new();

_evaluator.Multiply(distance, timeReciprocal, speed);
_evaluator.RelinearizeInplace(speed, _relinKeys);

_runListCKKS.Add(new EncryptedRunInfoCKKS(distance, time, speed)); A reciprocal of the time is used to calculate the speed for the submitted run and the method reduces the size of the resulting Distance, time, and speed are saved to an in-memory RelinearizeInplace Ciphertext. List. The method aggregates the list and returns: GetMetrics total number of runs total distance total time average speed public SummaryItemCKKS GetMetrics()
{
int count = _runListCKKS.Count;

var totalDistanceCKKS = SumEncryptedValues(_runListCKKS.Select(m => m.Distance));
var totalTimeCKKS = SumEncryptedValues(_runListCKKS.Select(m => m.Time));
var totalSpeed = SumEncryptedValues(_runListCKKS.Select(m => m.Speed));
. . .
protected Ciphertext SumEncryptedValues(IEnumerable<Ciphertext> encryptedData)
{
. . .
Ciphertext encTotal = new();
_evaluator.AddMany(encryptedData, encTotal);
return encTotal;
. . .
} To get the average speed, the reciprocal of the count is used, so rather than using: (sum of speed)/number or runs we use: (sum of speed) * (1/number of runs) Since the server keeps track of the number of run submissions, the total number of runs is not an encrypted value. That unencrypted value can be converted to and used in an operation performed on While this is a simple example, the implications are worth noting. The server can provide additional values used on encrypted data enabling third-party providers to apply proprietary data to computations against customer-provided encrypted data. Plaintext Ciphertext. In the example below, the total count is converted to a reciprocal and added to a CKKS operations expect encrypted list values, even if the list only contains a single value. So, the is encoded to a . The multiplies totalSpeed by (1/number of runs) resulting in the average speed. To conserve space, the result is applied to the totalSpeed and the re-linearization keys reduce the size of the output. List<double>. List<double> PlainText MultiplyPlainInplace Ciphertext Plaintext encodedCountReciprocal = new();
List<double> averagePaceList = new();
double runCountReciprocal = 1 / (double)count;
averagePaceList.Add(runCountReciprocal);
_encoder.Encode(averagePaceList, _scale, encodedCountReciprocal);
        
_evaluator.MultiplyPlainInplace(totalSpeed, encodedCountReciprocal);
_evaluator.RelinearizeInplace(totalSpeed, _relinKeys); The values are base64 encoded, returned, and decrypted on the client. The client takes the additional step of converting decrypted to . Plaintext List<double> var payload = Convert.FromBase64String(encryptedDistanceText);

using var ms = new MemoryStream(payload);
var ciphertext = new Ciphertext();
ciphertext.Load(_context, ms);

var decryptedText = new Plaintext();
_decryptor.Decrypt(cypherText, decryptedText);

List<double> distanceList = new();
_encoder.Decode(decryptedText, distanceList); Sending the following values yields totals and the average pace calculated by a service that tabulated the total and average without decrypting data sent from the client. Miles Time 2.5 0:35:32.643 2.2 0:32:48.826 2.8 0:34:52.036 The server computes the data and returns the total runs, distance, time, and pace without decrypting any of the data sent. Summary Microsoft SEAL is a Microsoft Research project and is not ready for a production application. All classes implement and used unmanaged resources. Production code would need to protect against a memory leak. The class does not follow the single responsibility principle. It includes methods for both BGV/BVF and CKKS. Further, CKKS supports vector operations, but not vector addition. A single can be encrypted to a single but there is no means of summing the values in a single It can be done with , but that is a suboptimal solution. IDisposable SEALContext List<double> CipherText CipherText. vector rotation This Fitness Tracker code sample is a simple introduction to a complex topic.  There are a number of compelling use cases with more involved logic: Gene marker detection Biometric template protection Secure human monitoring for aging in place Credit card fraud detection Homomorphic encryption has largely been used in academia and in prototypes. Practical applications have been limited by the computing power required by homomorphic encryption schemes. GPU acceleration and ASIC processors will continue to erode this barrier. Intel is developing the , purpose-built for homomorphic encrypt schemes, in collaboration with Microsoft and DARPA. NASDAQ is also funding with machine learning for fraud detection. The FHE.org community is an excellent resource for the most current developments in this space. It has an active . FHE Hardware Accelerator an R&D project using homomorphic encryption Discord server All code samples in this article are available at . For more in-depth Microsoft SEAL example, see these . johniwasz/microsoft-seal-samples .NET examples Also published here.

Microsoft SEAL and the Dawn of Homomorphic Encryption 

Microsoft SEAL y el amanecer del cifrado homomórfico

Microsoft SEAL et l'aube du chiffrement homomorphe

Microsoft SEAL और होमोमोर्फिक एन्क्रिप्शन का डॉन

Microsoft SEAL と準同型暗号の夜明け

Microsoft SEAL e o surgimento da criptografia homomórfica

Microsoft SEAL và Bình minh của Mã hóa Đồng hình

Microsoft SEAL 和同态加密的黎明

Ishan Pandey: Hi DH Kim, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behind FinHaven? About DH Kim: Kim was born in Seoul and studied international affairs, law, and political philosophy in the United States. His degree was split into two halves because he returned home midway through his degree to serve in the military. After completing his last two years, he returned to Columbia University in New York to pursue his master’s degree, this time with an emphasis on international affairs. However, as the economy of several Asian nations, including South Korea’s, collapsed in 1997, he was obliged to return home to support his family, and he split his degree into two halves once more. Defaulted loans, consecutive days of losses for the Korea Stock Exchange, and an emergency loan rescue to keep Kia Motors afloat were all part of the financial crisis in South Korea. Kim’s father’s firm was among those that failed. “As a result of it, I knew I needed to study a lot more about money, business, and accounting,” Kim adds. He changed his major to finance and business as a result. After graduation, he obtained a position at Merrill Lynch, which lasted almost a decade until the company collapsed and was sold to Bank of America due to the 2008 global financial crisis. While Kim, a prolific entrepreneur, does not own a crypto corporation, he believes in the potential of blockchain—the technology that underpins cryptocurrencies—and is using it to develop Finhaven, a company at the vanguard of the transformation Kim discusses. The firm just debuted as Canada’s first private securities marketplace to operate in several provincial jurisdictions, securing $7.9 million in seed and Series A investment. The marketplace functions similarly to a stock exchange, except it exclusively trades private securities. It is an attitude and a vision that took decades to form, and it’s the result of years of experience working in a variety of industries in the United States, South Korea, and now Canada. Ishan Pandey: According to you, how can DLT disrupt capital markets? DH Kim: As one of the leading players in global FinTech efforts, I view blockchain technology as a glimmer of hope for such a turn of the tide. Simply stated, public capital market innovation aims to improve liquidity availability, and its success is determined by how safely it can provide liquidity to businesses in the primary market and investors in the secondary market. As a result, I think private capital market innovation should aim towards the same objectives. Blockchain-based solutions can improve liquidity in private capital markets while also extending their usefulness to public markets over time. Without getting into too many technical specifics, I’d want to highlight a few key features of blockchain technology’s functioning in respect to capital market applications. The phrase “blockchain technology” is used in this article to refer to a distributed ledger system that includes encryption, wallets, and a consensus process. The secure storage of securities is one of the essential functions offered by blockchain technology. Investors should be able to hold their own assets and generate liquidity without any friction due to technological advancement and innovation. To put it another way, investors should not depend on a third party to verify securities’ authenticity or trade them. Investors deposit their securities with a dealer (or its broker) in the book-based system to have liquidity of their securities in the traditional public capital markets system. As custodians, registered dealers maintain the ledgers of investors. On the other hand, Blockchain technology allows investors to act as their own custodians and access liquidity online without going via a dealer, removing the need for a middleman. Wallets on a blockchain store securities and cash for investors. Securities in wallets are referred to as “security tokens” or “digital securities.” We also refer to wallet cash as “crypto cash” (even if fiat currency is used to fund the crypto-cash in the wallets). Issuers no longer need to issue paper securities or book-based securities since these security tokens are issued in a legally effective way. Furthermore, investors may use secure private keys to start and finish transactions using security tokens. Blockchain technology can effectively enable P2P transactions with a secure infrastructure in place. Buying and selling stocks in traditional public capital markets systems, on the other hand, requires several intermediaries or ledgers to execute a transaction. In addition, there is a significant regulatory burden in this procedure for minimising the associated risks. Nonetheless, before the advent of blockchain technology, these highly complex legacy systems were the best we had. In other words, blockchain technology can replace our existing systems. We can simplify the process of buying and selling securities using a blockchain-enabled online P2P transaction model, resulting in a reduced risk profile and fewer regulatory requirements, thereby lowering the total regulatory burden on market players. The distributed ledger can check the legitimacy of securities ownership and the authenticity of each transaction. We may return to the primary trade arrangement between three parties: buyer, seller, and witness, using this new digital method. While it is impossible to cover all aspects of P2P architecture for public capital market transactions in this short essay, I would like to present Finhaven’s private securities, or private security tokens, liquidity mechanism. Private and public securities have distinct price discovery processes. Only when there is sufficient liquidity in the market can public assets find their optimum or correct price. When public security lacks sufficient liquidity, its market price does not correctly represent the underlying asset’s actual worth. Because private securities have even less liquidity than public securities, a simple copy of public markets for private issuers and investors will not be sufficient to sustain the price discovery process for these assets. In light of this, Finhaven’s liquidity solution is based on the following assumptions. First, with adequate due diligence, an investor may accurately assess the value of a private security token. As a result, the Finhaven Investment Platform offers investors fast and reliable data to aid in their primary and secondary trading due diligence. Second, the market should guarantee a transparent price-setting mechanism. As is often stated, value is in the eyes of the beholder; as a result, investors on the Finhaven Investment Platform may submit Requests For Quotes (RFQs) to other investors and negotiate with them to arrive at the correct value for security. They may also use their private keys to transmit their security tokens safely. Most importantly, investors may complete all of these legally binding transactions online, eliminating the need for physical delivery of papers, signatures, or in-person closure, which is a significant advantage in the current environment of COVID-19 restrictions. This liquidity solution will undoubtedly provide non-reporting issuers with improved liquidity. Ishan Pandey: What is the state of regulations regarding blockchain in Canada? Please enlighten us about it. DH Kim: There are no blockchain-specific regulations, to my knowledge. Instead, relating to capital markets, the regulatory focus has been on investor protection for investors in crypto assets. Some securities regulators are calling centralised crypto exchanges with Canadian investors to register as a marketplace in Canada. This is happening not only in Canada but also in other countries. Ishan Pandey: Can you explain how bonds are tokenised through digital securities or security tokens? DH Kim: In terms of tokenising, stocks and bonds do not have much difference. In order to have a real efficiency of tokenisation, intermediaries should be removed and real-time settlement should be possible. These things can be challenging in many countries due to the existing laws and regulations. One of the key elements can be corporate action management, which is usually done through transfer agents. Can you automate the process and execution of corporate action management leveraging blockchain? This is one of the key efficiency points of tokenisation. In answering your question on bonds, automated interest payments and repayments of bonds with integrity without having layers of intermediaries (simply relying on a single blockchain platform) is key to bond tokenisation, not to mention creating efficient secondary bond markets. Ishan Pandey: Please tell us about fintoken and its utility. How can utility tokens be integrated with the capital markets platform? (Please provide a technical explanation of the token, we will remodel the answer if it is promotional to ensure it is non-promotional in nature). DH Kim: The current crypto markets have inherent problems of not clearly recognising the boundary of crypto (digital) securities (or security tokens) world and crypto commodities world (cryptocurrencies, or utility tokens. For example, as there is a wall, you cannot use your non-KYCed crypto wallets for the securities world. Finhaven starts from here. We will provide crypto FINWallet for our Gateway business users to have a KYCed wallet to move between fiat and crypto. With the same wallet, people can move between crypto commodities and crypto securities based on our Gateway and Private Markets compliance framework. During this process, FINToken will work as a connector between fiat currencies, commodities and securities. Once FINToken is issued and circulated working as a connector, Finhaven team will keep working hard to enhance the innovative use cases of FINToken in capital markets. Ishan Pandey: What are your views on the state of regulations regarding security tokens? Do you think that regulations are the reason why security tokens have not been adopted widely by SMEs? DH Kim: I don’t think it is a regulation issue. Rather, it is an infrastructure issue. Blockchain technology showed us the possibility of having a new capital market infrastructure for better efficiency and integrity. However, markets have focused on security tokens financial products) with less concentration on the infrastructure. We at Finhaven spent years building this infrastructure for this reason. Now we are working on the market development for security tokens to be traded more efficiently based on the new infrastructure aiming to develop this market as global as possible. Ishan Pandey: Settlement of securities is done on a T+2 basis. However settlement with digital securities or security tokens is atomic due to the nature of DLT. Still, the regulators want to apply the T+2 settlement framework on security tokens. Do you think that regulators applying the existing securities regulations framework to DLT based digital securities is an impediment to its growth? DH Kim: T+2 is not a regulatory issue. It is a real challenge in the current capital markets dealing with book-based systems. You, as an individual investor, do not trade securities directly in our current systems. Your dealer trades for you, and dealers clear and settle all transactions through a centralised clearing agency. It is why it is hard to have a real-time settlement. The atomic transaction is truly possible when you can make P2P transactions. Ishan Pandey: What are your views on the FATF proposed recommendation that brings DeFi protocols under the purview of VASPs? DH Kim: It is an inevitable development considering that we live and do our business under sovereignties. However, these regulatory developments will reduce the chance of innovation and change, too many people’s disappointment, as the framework is not based on the new technology but on how the sovereignties have been regulating their businesses and money. Ishan Pandey: According to you, what trends are we going to see in the digital securities/security tokens market in the coming years? DH Kim: Please note two developments. One is the further development and growth of private capital markets. The other is the faster integration of global capital markets, capital crossing the borders more efficiently. Security tokens based on the new infrastructure will lead to these changes. Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence by asking the right questions and equipping readers with better opinions to make informed decisions. The material does not constitute any investment, financial, or legal advice. Please do your research before investing in any digital assets or tokens, etc. The writer does not have any vested interest in the company. Ishan Pandey.

How Blockchain Can Disrupt Private Equity and Capital Markets 

They say, once you come to Georgia, you find yourself reluctant to leave. This stunning country – particularly attractive with sunny weather, scenic mountains, and of course, exceptional wine – has not only incredible nature and rich culture, but also all chances to become another cradle of fintech and blockchain. In 2020, Georgia 7 among 190 economies in the ease of doing business, which made over 50,000 tech specialists relocate here during the last couple of years. What’s far more exciting is that the Georgian government has a good attitude toward cryptocurrencies, and is already hard at work on a legal framework to support mass adoption. was ranked Today, thousands of crypto freelancers are working internationally from Georgia, and it’s therefore not surprising that Tbilisi finally became one more meeting point for investors, C-level executives, developers, and creators involved in Web3. They all flocked to , the first-ever international Web3 conference in the Caucasian region, on October 22-23. Presented to the wide audience as a combination of GameFi and DeFi, the event boasted a total of 8-panel discussions on its business agenda, over 70 speakers and industry experts as well as 50+ sponsors and exhibitors showcasing their innovative products. DeGameFi In this article, I’ll provide a deep look into what happened throughout these two days at the Sheraton Grand Metechi Palace hotel and highlight the most insightful events. Let’s buckle up! Overview of DeGameFi DeGameFi is the first Georgian community-based company with a goal of bridging the worlds of Web2 and Web3. DeGameFi’s team started with a monthly series of gatherings, such as meet-ups, hackathons, and workshops, aimed at popularizing blockchain technologies and helping traditional businesses transit to the new era of finance. And now, thanks to the growing interest in cryptocurrencies among Georgian companies and institutions, DeGameFi has grown to a large-scale conference attended by over 1,000 Web3 enthusiasts from different regions. Source: Twitter Combining the most engaging formats and activities for networking and knowledge sharing, the event offered to visit 6 main sections so that each participant could fully immerse into the Web3 environment: Conference hall; Exhibition floor for business; Tech room; NFT gallery; Start-up competition; VIP area. Apart from that, there were various gatherings, workshops, contests, and tech talks available during the conference. No matter whether you are a VC, entrepreneur, developer or artist, here you would find many promising opportunities and projects for mutual cooperation. Fun fact: DeGameFi even invited community members to join the conference online at the Decentraland. At DeGameFi, I caught up with a few fellows who I asked to share their impressions of the event. Among them were Konstantin Gorin, Head of Support at and , Elena Shiltseva, CPO at , as well as Mike Ermolaev and Gennadii Bazhukov from . They all agreed that the conference was organized at a very good level and laid the groundwork for a brand-new way of interaction between crypto supporters in Georgia and the CIS. Cryptopay NearPay Roketo Business Kikimora Labs “The Covid-19 pandemic and the ongoing international upheavals made us almost forget this wonderful atmosphere of face-to-face meetings where the most innovative ideas are born. DeGameFi reminded us how vital the offline events are in the crypto industry and the scale of the conference ideally suited to the establishment of fruitful connections,” notes Konstantin Gorin. Source: Twitter “It was really great to meet so many local guys at DeGameFi. Even the Bank of Georgia got on board and showcased its Web3 projects, which demonstrates that the technology is here to stay and regulators are keeping their hands on the pulse. The Georgian crypto community is developing at a rapid pace, and the conference has proven it true,” adds Elena Shiltseva. Gennadii, in charge of Business Development of Kikimora Labs, was struck with the geography of participating companies and individuals: “We ran into attendees not only from Georgia, but also from the USA, Great Britain, South Korea, and China. I’d like to separately note that the venue was selected perfectly, which contributed significantly to effective networking. I, personally, partnered with a few investors and found some interesting projects that are worth attention.” Mike, who is Head of PR & Content at Kikimora Labs, was impressed by the various interactives related to GameFi. “The NFT gallery was a wrap! An amazing place for artists to catch some inspiration, and I think that even those who still feel skeptical about NFTs couldn’t remain indifferent. Besides, the presence of brands promoting gamification was huge. The participants were welcomed to try various activities like playing blockchain-based games with underlying NFT economics to assess the potential themselves,” he shares. Source: Twitter But what really wowed everyone is the high quality of expert content delivered on the main stage and a stir around panel discussions devoted to trending topics in Web3. So let’s get to it. Speaker Lineup And Panels The two-day agenda was tailored to ingesting insights from multiple directions of the DeFi development: from crypto payments and decentralized marketplaces to metaverses, Web3 investment strategies and marketing specifics. Source: DeGameFi.io DeGameFi brought on stage the best and the brightest minds from both Georgia and global markets, including: Mikheil Didebulidze, partner at VNTR Capital, founder of DeGameFi; Tone Vays, analyst, derivatives trader, influencer and event producer; Levan Kobakhidze, CDO at Bank of Georgia; Max Krupyshev, CEO CoinsPaid & ; Cryptoprocessing.com Iouri Galitchenko, strategic partnership Binance Pay&Card; Colin Donohue, director of Startup Connect & Startup Grind; Eralp Hatipoglu, co-founder & CEO at CityPay, and more. “The quality of dialogue between the keynote experts and attendees was excellent. I was pleasantly surprised by a high level of speakers who shared their comprehensive views on the current Web3 trends and challenges. This once again demonstrated that Georgia as a crypto hub is full of forward-thinking individuals and entities,” says Gennadii Bazhukov. A peculiar feature of DeGameFi was a number of panel discussions featuring the most pressing issues that the DeFi and Web3 industry is facing today. I’d like to point out those panels that, from my point of view, were the hottest and the most buzzing. Web 3.0 payments from past to present: how are traditional banks keeping up? - Panel : George Gvazava (CryptX), Levan Kobakhidze (Bank of Georgia), Iouri Galitchenko (Binance Pay & Card), Eralp Hatipoglu (CityPay), Max Krupyshev (CoinsPaid) : Max Novak from MyNearWallet : The impact of regulations on the DeFi ecosystem; the prospects of CBDCs and stablecoins; the latest efforts to bridge banks and crypto made by payment giants like Mastercard; tokenization and interoperability; obstacles to mainstream adoption of DeFi; Web3 for businesses; metaverses and what banks can offer in this visual world. Panel: Web 3.0 payments from past to present: how are traditional banks keeping up? Experts Moderator Topics : David Chikhladze (OWNIC), Zeshan Ahmad (P360), Michael Holden (Maxihaxi) : Konstantin Gorin from NearPay and Cryptopay Panel: Sports 3.0 - new era for sports entities Experts Moderator : The driving force behind Web3 initiatives in sport; crowd communication models; integrating blockchain and web3 technologies to sports – collaboration or rivalry; engaging huge fan bases and adoption issues. Topics Sports 3.0 - new era for sports entities - Panel : Manuel Rensink (Fathom Protocol), Ioseb Bolqvadze ( , & OneSoft), Lasha Antadze (Rarify) : Maria Reshetnik from : Current and potential barriers to DeFi prosperity; emerging trends; risks posed by tightening regulations; the convergence between DeFi and TradFi; the most pressing real-life use cases that DeFi can bring. Panel: The evolution and the future of DeFi Experts Cryptal.com Cryptomat.com Moderator FutureComes Topics : Amirsan Roberto (Sinofy Group), Kirill Mishanin (Infodriver Capital), Vojta Rocek (Presto Ventures), Sergi Gvarjaladze (Kettari Foundation), Gvantsa Baidoshvili (Revenue Capital) : Maria Reshetnik from FutureComes : Investment trends and strategies in the crypto/blockchain segment; red flags during the investment process; investing in DAOs – pros and cons. Panel: A VC's guide: institutional decentralization and investments Experts Moderator Topics : Mikheil Didebulidze (VNTR Capital), Eralp Hatipoglu (CityPay), Colin Donohue (Startup Connect & Startup Grind), Levan Khomeriki (Two Point Zero) : Mike Ermolaev from Kikimora Labs : The reasons for decline of Web3 startup funding; the most popular areas of investment; the pitfalls of investing in the play-to-earn projects and metaverses; leading countries in Web3; investment DAOs; the role of crypto marketing in 2022-2023; the legitimacy of Web3. Panel: Web3 start-up ecosystem: current state Experts Moderator Topics Mike Ermolaev and Colin Donohue “The DeGameFi panels were always full houses. I moderated the discussion that was devoted to the Web3 start-up ecosystem and it definitely collected more than a hundred of viewers. The hall was packed; every seat was occupied and people had to stand behind. Unbelievable!” comments Mike Ermolaev. Tech Room, Afterparty And Side Events The agenda of the tech room, also positioned as an additional educational space, was focused more on technology-oriented speeches and presentations of infrastructure solutions. Elena Shiltseva who commanded the scene there shares her feedback on the host experience: “Except for participating at DeGameFi as a speaker of the main stage where I talked about the role of a CFO in the process of transiting from Web2 to Web3, I had a great pleasure to host the tech room section. The key benefit of this role was greeting many talented people in the blockchain industry on stage and gaining maximum knowledge about innovations that are emerging in this field. I’m still thrilled by the atmosphere, and of course, I’d like to say massive thanks to the organizers who made my job of hosting super easy!” Elena Shiltseva hosting the tech room section Elena also shared with me her own shortlist of the top 4 speakers who rocked the tech room with their valuable and fundamental reports. First, she mentioned Max Sultakov, CEO of Mover, who talked about technical and economic aspects of going cross-chain on high-performance L1s. Then Elena proceeded to Vladimir Prosvirkin, founder of Aspis, who explained why DAOs will replace legal entities and how to create a successful decentralized autonomous organization. Her other favorite was Avtandil Kutchava with a practical report on crypto regulations in Europe and Georgia. And finally, she got inspired by the speech of charismatic Alexander Wendt from Trend Vision who showed with real examples, why high-quality PR efforts are essential for start-ups and how not to fail when putting them into practice. “These were amazing applied reports, the perfect examples of how tech-related speeches should be prepared and presented,” Elena concludes. Today’s events cannot do without entertainment, thus maintaining the perfect balance between work and pleasure. DeGameFi partnered with the world’s biggest Web3 conference WOW Summit to give 100+ VIP ticket holders unforgettable emotions and exclusive networking opportunities at the end of the event. The afterparty took place at Axis Tower's Sky Bar where representatives of the international and local funds, CEOs of the most promising projects, and local state institutions enjoyed music, fine drinks, snacks, and enchanting panoramic views over the night Tbilisi. DeGameFi x WOW Summit Afterparty The list of side events also included VIP dinner and investor’s breakfast, sponsored by Kikimora Labs. The latter gathered together a few dozen people who are involved in the most promising niches, such as SpaceTech, or look for tech innovations to co-invest in, particularly on the Georgian market. “We connected with the global Web3 community, made a lot of networking pics and really had fun attending both the investor’s breakfast and the afterparty. The beauty of these events lies in their exclusive status that ensures the presence of your target audience, reliable partnerships and fantastic experience sharing. And let’s face it, talking business is much more enjoyable when getting together either over coffee or drinks,” says Mike Ermolaev laughing. Final Thoughts Driven by the mission to support the growth of the crypto community in Georgia, DeGameFi took the first step towards bridging traditional business and Web 3 in a solid and transparent way. Given that the country is currently in the process of making itself a fintech and crypto hub, the events under the DeGameFi brand will most likely become annual and will honor the progress achieved with attempts to foster blockchain adoption en masse.

DeGameFi Conference in Tbilisi: Introducing a New Crypto Hub to the Web3 Community

became some of the biggest events in the crypto industry, bringing together the community and its co-thinkers and partners. The scale of this event is impressive indeed: 2,000+ participants, over 700 NEAR-based projects, and more than 200 expert speakers. These four days were just a mad run of networking, rooting for innovative ideas and just having fun. Here I’d like to express my overall impressions and recap the results. NEARCON 2022 NEAR Networking Has Never Been So Much Fun Imagine a place packed with crypto enthusiasts all chatting, enjoying themselves at food trucks with local food, and gazing at numerous entertainments. This is what the NEARCON venue looked like. But all this fun was just a background to intense collaboration of the brightest crypto minds who brainstormed the ideas for the creation of a better, safer, and more comfortable Web3 environment. It was a place where all crypto fans could meet big names of the industry and get inspired for more exciting discoveries. This conference was a great experience for me, as in this short period of time, I’ve made ties with dozens of interesting people and learned about the amazing prospects for the crypto industry. And these were not some boring tie and suit meetings – I’ve met these people while having fun at numerous parties. One of them was a business breakfast organized by , a crypto streaming solution. I had a great time during engaging conversations. Co-Founder of Taras Dovgal shared with me his impressions of the conference: Roketo Kikimora Labs “NEARCON is a great opportunity to meet similar-minded people and share thoughts about the future of Web3. I’m really impressed by the scale of the event, and I’m glad to see the NEAR community growing at such a rapid pace, and we are expanding alongside.” Also I had a word with Eugene Rid, the second Co-Founder of Kikimora Labs: “This place is buzzing with enthusiasm. The atmosphere is just fantastic. I’m so grateful to the NEAR team for bringing us all together and giving us a chance for networking and broadening the horizons of the crypto realm.” Another party that grabbed my attention was the one held by NearPay and . There, I’ve discussed the prospects for the NEAR community with George Goshanov, СЕО of : CryptoMondays MyNearWallet “With the ever-growing number of the NEAR family members, we are going to develop a sustainable one-stop environment where everyone will find any crypto solution they may need. It’s also great that the number of NEAR token use cases increases exponentially, making it a sought-after asset.” Bright Prospects for the NEAR Ecosystem Being a host of the event, NEAR, the leading smart contract blockchain platform, has built plenty of useful partnerships and kicked off a number of fantastic projects. Here are some of the most important ones in a nutshell: The NEAR Digital Collective (NDC) framework has been created as a move to enhance decentralization by arranging a governance group within the system. Its purpose is to enable the blockchain itself to make decisions which will add transparency to the way the community works. , the biggest stablecoin in terms of market cap, has been added to the NEAR ecosystem. Commenting on the partnership, CTO at Tether Operations Limited Paolo Ardoino said: USDT “We’re excited to launch USDT on NEAR, offering its community access to the first, most stable, and trusted stablecoin in the digital token space.” NFTs are to be developed more actively within the ecosystem thanks to the partnership with , an NFT marketplace built on NEAR Protocol. Robbie Lim, GM, Partners & International at NEAR said: Few and Far “We are thrilled to support Few and Far’s mission to provide seamless NFT minting solutions and an easy-to-use marketplace for the NEAR ecosystem and beyond. The NEAR Foundation embraces the digital asset revolution and the importance of laying the foundations for web3 gaming, the metaverse economy, and much more.” has launched an NFT marketplace based on the NEAR blockchain to help charities and non-profit organizations make a social impact while giving artists an opportunity to torrent their creativity into meaningful humanitarian issues. Fayyr has announced its soon-to-be released Visa debit card that will bridge fiat and  crypto payments. The card will be connected to the NearPay Wallet which makes paying with crypto for everyday goods and services fast and easy. Ivan Ilin, COO of NearPay, said: NearPay “It’s great that we are focused on the technology here, not the NEAR token, because price speculations should not be of higher priority. Overall, this conference helped me to see the perspective, the aspects to develop. At this stage, the projects within the ecosystem have already attracted some high-flying investors, and I think the next step should be a shift of attention towards our users. This conference has totally changed my perception of NEAR.” Pagoda, the Web3 startup platform working on the NEAR protocol, has unveiled its — an all-in-one tool for developers intended for smooth creation of dApps. flagship console has launched a $100 million venture capital fund in collaboration with Caerus Ventures, aiming to help creative people promote their art through next-generation platforms, marketplaces, and apps. NEAR Foundation In partnership with Coinbase, NEAR has launched a enabling its users to learn how the NEAR ecosystem works and get reward for that in its native tokens. learn & earn program These are just a fraction of all the big promising plans of the NEAR community that were announced at the conference, and some of them have already been implemented. NEAR Expands its Geography In addition to the current located in Kenya, Lisbon, and the Balkan countries, two more hubs will join the ecosystem which was announced at NEARCON. The one located in India will be focused on the promotion of blockchain talents and innovation. The region is seen as a promising site for development supported by a group of crypto enthusiasts. NEAR hubs The second new hub will be located in Vietnam, one of the countries that experiences a boom of the digital economy, with people massively adopting the use of crypto assets. In this country, the mission of NEAR will be to further develop blockchain innovation, education, and digital transformation. Speaking of regional hubs, I’d like to separately mention , a hub that was located in Kiev, but when the Ukraine war started, the guys behind the project had to move to Lisbon. This hub makes immense contributions in all senses, not only developing the crypto sphere but also helping Ukranians stay within the community and find job opportunities in these toughest times. Founder of NEAR UA Anton Vaisburd shared his impressions of the conference: NEAR UA “Great community of builders, a lot of meaningful conversations, and already a few partnerships so far. A lot of interest in the NEAR UA booth where people donate for merch, application of NEAR technology even for this. We have a lot of after-work to do, but already can feel the impact of the connections that were possible to make only thanks to NEARCON.” Looking Forward to NEARCON 2023 It would not be an exaggeration to say that NEARCON 2022 was one of the biggest and brightest crypto events there ever have been. A wide range of exciting projects were presented at the conference, attracting an impressive number of attendees. As NEAR Foundation officials Jack Collier and David Morrison noted, this year’s event was five times larger than last year’s. As I look ahead to next year's conference, I can only expect it to be even more buzzworthy, given the boundless energy and enthusiasm of the NEAR team and its partners.

NEARCON 2022: Overall Impressions and Promising Results

We This is something we KNOW, but every shift in the algorithm is a sudden reminder. are all living in Mark Zuckerberg’s biodome. Yesterday Zuckerberg made a that has marketers and social media gurus scrambling for a response. To sum it up, is shifting to a “Family First” feed where we will . pretty enormous announcement Facebook see more from our family and friends and less from pages in our feed As with all giant Facebook changes, I like to sit back and watch what happens. We don’t fully know what the impact will be, but the expectation is that . This will likely increase the number of pages investing in ads. In the case of smaller brands and individual bloggers and marketers, it may simply mean giving up on pages or Facebook altogether. page reach will drop even further than it ever has I have some thoughts on this I’ll save for the end, but for now, I want to talk about Mark Zuckerberg’s biodome. LIFE FINDS A WAY When you create a community on or offline, it is like an ecosystem. There is a delicate balance between living organisms and their habitat. Smalls shifts can have big impact. And, as we’ve learned (hopefully) from , . Even in our own island, online community, or social media platform. Jurassic Park we can’t control other living things A few months ago, a big influencer announced that she would be closing her Facebook group. I was fascinated by the response. Many of the members . These members insisted that THEY had built the community. It was THEIRS. insisted that the group was no longer HERS (And to be fair, the influencer rarely showed up there.) She closed the group anyway. Because, after all, it literally her group. And yet…there is something to this idea that a . was community takes on its own life apart from its maker The influencer may have started the group and set it into place, but community and communication had its own life without her. Relationships formed in her ecosystem that had nothing to do with her…except that they occurred inside of her space. Zoom out with me. We are inside Mark Z’s biodome. He owns it and can do whatever he wants with it. But because it is an ecosystem, there is a life that has bred apart from him. He owns it, but does not own US. He makes the final call on what Facebook does, but . we as users also shape its growth and movement STOP TRYING TO MAKE ENGAGEMENT HAPPEN As I don’t like other people telling me what I want to see or how I can enjoy something more. (Which may be due to the fact that I am, according to .) a user, I’m not thrilled with this announcement. Gretchen Rubin, a rebel Zuckerberg said that he wants to help eliminate content leading to a“passive experience.” What if I like Facebook being a passive experience?? He said that he wants to spark “meaningful social interactions.” What if we aren’t ON Facebook for meaningful interactions? His goal is to foster a platform that is “good for our well-being.” Wouldn’t our well-being be better if we got off social media altogether?? Probably. And that’s something he — oddly — predicts will happen after these changes. We’ll be happier on Facebook, so we’ll hang out there less? Um, okay. I don’t like to even visit Instagram or Pinterest after the shifts in the last year. Algorithms cannot fully predict what I want to see, no matter how sophisticated. I have personally NEVER enjoyed an algorithm update as a user on any social platform. So I question what a shift to create more engagement and “active” viewing will mean in my news feed. Many people enjoy lurking on Facebook, watching videos without liking or commenting or sharing (at least until the annoying ads show up in the middle and we keep scrolling). I suspect that Facebook is more of an escape for people than a place that we go for meaningful interactions and engaging conversations. Not everyone is on social media to be social. Mark Zuckerberg wants to change that. Stop using algorithms to make engagement happen. But you can’t MAKE me engage. INVASIVE SPECIES Humans do not learn well from our mistakes. I’ll point to Hawaii introducing the mongoose and Australia to take care of problems. introducing an insane number of invasive, non-native species Mark Zuckerberg sees problems within Facebook. He comes up with a solution to that problem. Which leads to other problems. (And also he sees dollar signs. Let’s keep that in mind.) When he updates an aspect of the algorithm to stop spammy practices, fake news, and engagement baiting, life finds a way. He brings in an invasive species to quell the fake news problem and that invasive species sparks a new problem. The system is always game-able. (And by life, I mean marketers, good and bad ones.) So…what can we expect with this new addition to our ecosystem? PROFILES, MESSENGERS, AND GROUPS- OH MY! Here are my predictions for what this change may mean, as well as some best practices for what you (as a page owner) can do. Small brands will stop trying to use pages and flood their profiles with business-related content. 2. Messenger bots are going to become super annoying. 3. Groups will be on the rise. Page -> Profile Many smaller brands are already using their profile like a business page. This is against the terms of service, but I’ve never seen someone lose their account over it. And until Facebook cracks down on these kinds of posts, many people will continue to use their profile as a page. (think: writers, bloggers, and people in direct or multi-level marketing) In addition to not penalizing this (at least, not frequently), Facebook has in many ways encouraged this practice by allowing people to “follow” a personal profile. I know some very influential people who have maxed out their friend limit and encourage their fans to follow their profile, where they talk about life…and business. (cough*Mark Zuckerberg*cough) For the average page owner, I think this is the first change we’ll see. Which is essentially the opposite of what Zuckerberg wants. Bot Epidemic I’ve written before on the and this update will, I think, only encourage pages to shift their into Facebook messenger. danger of bots marketing With a tool like Manychat, pages can turn . You won’t even know what hit you. your simple comment on a post into a direct line to your inbox Choking out page reach means that marketers and brands will look for another way to get you. Chatbots and messenger marketing is a sort of wild west right now in the biodome of Facebook, so until another invasive species is introduced to tame it, bots can run rampant. (Personally, I suspect that bot marketing in messenger has the potential to be so incredibly annoying that it will burn out. If Zuckerberg really cares about user experience, he will put more restrictions in place.) Groups > Pages Facebook , which has good and bad implications. I’ve seen reach drop when posting as my page (not my profile) in my group. The option to boost posts in my group also pops up in my feed sometimes, a feature that is not widely available. turned its attention toward groups this year But cool new features have also been introduced like insights, questions to vet potential members, and post tagging by topic (which I’ve only seen in one of my groups so far). that pages had before the organic-reach-apocalypse of 2013. This makes them a relatively safe space to invest time and build engagement as a brand. Groups have the wide-open potential For now. This new shift will likely result in a — everyone ditching their page efforts to strike it rich with a group. Group Boom, not unlike the gold rush (Until that changes as well.) IT’S NOT OUR DOME As users and businesses alike wait to see what this shift will mean, this is a good time to remember that . Facebook isn’t our biodome No matter how wild the ecosystem grows and how much we as users shape the way Facebook grows, Zuckerberg can always shut off the power. Another option is that we could all move to a shiny, new dome if someone were to build it. For years I’ve heard people talk with great longing about the need for a new platform. . Probably not. But MySpace didn’t see it coming either. Perhaps this shift might finally wedge open the door to let a new platform rise TIPS FOR PAGE OWNERS If you are using a page, don’t panic! We don’t fully know how this will shake down. Organic reach has been really hard for a long time anyway. You’ll be okay. Here are some things you can do: DO try to use engagement as much as possible with your efforts. DO consider creating a group. ( .) See my tips for doing this well DO invest in your . email list DON’T ever give everything to someone else’s platform. Though I’m not thrilled about any of this, I’m also not surprised. Or worried. The dome will continue to adjust the temperature and introduce new species, whether I like it or not. If you need me, I’ll be in my Facebook Group . (For now.) Do YOU have thoughts on this update, either as a user or page-owner?? I’d love to hear them.

The Sky Is Falling! aka…Facebook makes another update

The founders and staff of a Swiss VC firm that invests in disruptive technologies, , have just returned from a week in El Salvador at the request of the Government and Central Bank to advise on Bitcoin as a national currency. LIAN Group Partners Fiorenzo Manganiello & Nessim Sariel-Gaon, as well as Josue A. Lopez, met with El Salvador’s Vice President Felix Ulloa and Juan Pablo Durán Escobar, the chairman of Bandesal, the national development bank of El Salvador. Lopez told this story exclusively. HackerNoon How did you get the opportunity to advise the government of El Salvador? Are you impressed by their implementation of rolling out Bitcoin as a second native currency? As a Salvadoran, since a very early age, I was committed to dedicating my career to helping El Salvador in any way I can. When we heard the news that El Salvador was taking a step into the global stage with the introduction of Bitcoin as El Salvador’s third legal currency, we discussed with our partners at LIAN and our team to evaluate ways in which we could be of service. I’m impressed to see El Salvador taking such an innovative and futuristic step that is bound to lead the charge for the decentralization of legal tender. Seeing small countries make such bold decisions is truly a representation of the power innovation has, and hopefully through this process, the final benefit will be reaped by the amazing people of El Salvador, and other countries that collaborate with it or decide to make Bitcoin legal tender in their jurisdictions. Does the government have the resources and the expertise to execute the widespread acceptance of Bitcoin as a currency? What are their biggest hurdles? El Salvador is a small country with a developing economy and society. Currently, one of the main challenges in El Salvador, as in most countries around the world, is the knowledge of what Bitcoin is and how the Blockchain works. However, the government of El Salvador has displayed the willingness to receive aid and advisement from global blockchain experts, both for the legislative, social and economic application of the cryptocurrency as well as for the production of Bitcoin in the country. One of the biggest challenges is the accessibility to cheap and renewable energy, at a large scale. President Bukele has come up with a great solution for this challenge, using Geothermic energy to fuel the Bitcoin mining process in the country. El Salvador does not have a first-world communications infrastructure and its internet penetration is known to be amongst the worst in South America. Will this not hamper President Bukele’s efforts? This is definitely a challenge that has been discussed widely within the government and with private individuals. The sitting Salvadoran administration has come up with innovative solutions to this issue, such as the use of satellites to improve internet connectivity, creating a government wallet that is free of charge and is in partnership with cellular data providers and creating a network of physical Crypto-ATM’s throughout the country so the cryptocurrency is more accessible. How will this help the unbanked and poor people of El Salvador? We expect a wave of Foreign Direct Investment to be injected into the country as Bitcoin becomes more popular. This will give the government the resources to expand their public infrastructure efforts, such as the development of better roads, hospitals, schools, specialized universities, and much more. El Salvador is a country with great income inequality, a result of years of a two-party system that didn’t benefit the development of the people. Through this new effort, poor people that didn’t have access to financial services will be offered the chance to grow, both educationally and financially. With the proper guidance, El Salvador is on track to decrease the income inequality gap. How does President Bukele aim to gain international support from financial institutions and international financial lawmakers? Which will be key to his project becoming a success? President Bukele, along with his administration, is working on several initiatives that will surely attract global financial institutions and international financial lawmakers. From the use of fiscal incentives, public-private joint ventures, and dedicated legal systems to treat the cryptocurrency, El Salvador will become a hub for Bitcoin and other cryptocurrency trade. There is definitely a global positive sentiment towards this decision and the availability of big players in the sector to aid El Salvador in this innovative transition. As VCs, does this initiative now make doing business in El Salvador more attractive? Will this initiative make the country more attractive for investment? Due to the nature of Bitcoin, it makes for the international transfer of money a simpler process, without too many intermediaries and government interference. As a VC, this opens a world of possibilities that we’re working to develop with El Salvador. The attractiveness of investing in El Salvador is already there, and exponentially growing. As they begin to introduce more investment incentives, companies around the world will being to look at El Salvador and realize the potential the country has. After all, El Salvador is a country filled with many resources, hardworking and kind people, and a government that is willing to work for its people and attract investment. Given your expertise in mining and agriculture, does El Salvador’s landscape make it perfect for mining, given that their volcanoes offer an ideal and renewable thermal power source? El Salvador’s location, at the center of the American continent, offers great potential for mining operations in the country. One of the great challenges was the access to cheap and renewable energy. Given the country’s access to thermal resources from 23 volcanoes, it is no longer a question of if, and more a question of when. Geothermic energy is an interesting way to fuel the Bitcoin mining process as it offers cheap, 24/7 and renewable energy. This fact, paired up with the willingness of El Salvador’s government and its people to incentivize mining in the area make it a very competitive country to mine cryptocurrencies in. In your opinion, do you believe that countries with their own plans for exploring CBDC’s are watching El Salvador intently? Will this have a bearing on their government’s future decisions on whether to speed up, or shelve their own plans? The decision to make Bitcoin legal tender in El Salvador was the government’s decision, but it’s a global effort. The imminent success of the use of cryptocurrency in the Central American nation will dictate the future for other countries that are hesitant on adopting Bitcoin as legal tender. We are already seeing efforts in different parts of the world to make Bitcoin legal tender and begin the official adoption process of the cryptocurrency. Eyes are now on El Salvador as it launches itself into the global stage. This opens El Salvador to tremendous amounts of resources, both knowledge and financial resources, to make sure this endeavor is a success.

El Salvador Faces Blockers Toward Mass Crypto and Bitcoin Adoption

Did you know TikTok is one of the most active user bases in the world? There are now over 800 million active users on the site. Given how advanced the internet channel is, TikTok is an ideal platform for running a campaign. If you're a marketer, you know that someone can buy TikTok followers and be successful. Due to the rapid rise of TikTok , several businesses have chosen to establish official channels in order to attract more consumers. TikTok users spend 52 minutes each day on the site, second only to Facebook and Instagram, making it easier for businesses to grow their audience via the platform. It's another reason why companies are planning to use TikTok marketing in the future. Why Should You Use TikTok Marketing? In general, social media has aided companies in determining the appropriate market. Because the internet platform can send messages across borders, it enables businesses to reach out to a larger audience. TikTok, on the other hand, is a brand-new social network with the fastest-growing member base. It's popular among teens because of its unique feature that allows users to post 60-second films. The app's audience is varied, making it a great location to meet new people. Furthermore, the existence of artists on the site creates a new kind of movement in which TikTok users may participate in the trends. The hashtags #kikidancechallenge and #snowmanchallenge are great examples of the movement's popularity among users. When it comes to marketing companies, this tendency is crucial. How Does TikTok Help Businesses? TikTok has the potential to become a viral sensation overnight. Businesses may practically sell out goods with a single TikTok post since the interaction rate is so high. This is how effective this channel is. By creating the appropriate content on TikTok, businesses may profit from this comprehensive statistic. Useful video material may help a company boost brand recognition and visibility. Video challenges are one of the most popular TikTok features. Your brand will acquire popularity quickly if you take on a challenge. It's a great way to promote your company without coming off as pushy. This kind of video challenge is used by TikTok users to stay up with the current trend. As marketers, it's the most effective way to get people's attention. Five Ways to Use TikTok Marketing to Promote Your Business 1. Keep Up With TikTok's Latest Trends Keep an eye on the trends to figure out what your target audience is up to. It is critical to keep up with the latest trends in order to position your brand in the minds of your customers. It will be simpler for you to produce relevant material if you put yourself in their shoes. People who consume comparable information will easily catch your hook if you create hot-topic material since it shares the current worth. When compared to unrelated video material, they absorb your message rather quickly. TikTok trends, on the other hand, fluctuate with the speed of light. They have a habit of promoting fresh prospective material every now and again. It's critical to maintain both eyes on the most recent update since it impacts your content's stats. 2. Use the Appropriate Hashtags TikTok primarily depends on hashtags to categorize videos. Before adding appropriate hashtags, it's critical to understand what the audience enjoys seeing. One approach to use hashtags is to look at current trends. Other options include looking through the explore area to see what hashtags are currently popular. To enhance search, use the appropriate hashtag on your material; nevertheless, don't overuse it since it will reduce the video's effect afterward. Instead of using just TikTok's most popular hashtags, you should choose tags that are related to your businesses or goods. Using a slew of hashtags will not elevate your content to the top of the search results. Rather, they will submerge you in a sea of information, where overcrowded films will remain. While using hashtags that are relevant to your company may help you reach the appropriate audience. 3. Create a Hashtag Competition Hashtag challenges can quickly gather an audience and successfully convey a message. Marketers love this strategy because it allows them to collect consumers naturally. Setting challenges encourages users to reproduce and disseminate knowledge more quickly. It is one of the most effective ways to increase awareness in a short period of time. You may also create content that people can interact with. Make a template for choosing between many choices or a question template regarding current trends, for example. When users can connect to the material, they appreciate it more. 4. Stay in Touch With Influencers TikTok, like other social media sites, has its own influencers who have millions of followers and are expanding. Influencers' presence is just as important as the artists' channel. When it comes to making choices, they may influence their supporters. Influencer marketing has been regarded as a fantastic way for businesses to acquire consumers. These individuals have the ability to persuade their devoted followers to do what they want them to do. Brands want people to stick with them for this reason. Because the rise of TikTok influencers is unstoppable, it's critical to double-check the kind of influencers you want to invest in. You may begin by learning about their target audience and the kind of material they provide. You may want to keep an eye on their posting activities to make sure your message is getting through. One of the most important considerations is if these influencers are compatible with your brand's ethos. 5. Make use of TikTok Ads TikTok has developed an advertising system for companies to more efficiently market their brands. It offers three different kinds of advertisements. If you're new to TikTok marketing, though, getting into the movement may be difficult. To determine the best method to advertise your brand on this platform, follow the procedures outlined above. It gets simpler to enjoy the benefits of this marketing approach once you understand the guidelines.

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