Rollee

rollee

Typically, banks prefer predictable and stable customers. And yet, due to the sporadic nature of gig workers’ income, they don’t make for safe and reliable customers in the eyes of the bank. But with gig economy workers bringing in each year in the UK alone and with the number of gig workers in Europe expected to reach by 2025, this viewpoint has started to change. £20 billion 43 million The gig economy refers to the market primarily consisting of temporary, contract or workers. In other words, they’re integral members of a profitable economy since millions of entrepreneurs and businesses rely on part-time workers. freelance The main reason why there are more gig workers is that since the first wave of COVID-19 wiped out about jobs in the European Union, unemployment rates have been skyrocketing and parents have needed to prioritize childcare. Therefore, a significant section of the population was searching for flexible jobs — and here saw a considerable rise in the gig economy. six million However, the new influx of gig workers highlighted the existing gig economy issues of high cross-border payments, slow , and limited access to banking products and services. And without gig-specific help from financial institutions, entrepreneurs, startups and gig workers will struggle to grow in the current economy. payments So, how can the banking industry use open banking to address its neglect of the gig economy? And what essential products and services do gig workers need? Open banking: External collaboration is the golden ticket The open banking paradigm drives embedded finance as a first step for many banks. Through the power of application programming interfaces (APIs)–coupled with an embedded finance platform that enables intelligent API orchestration–banking can be composable to allow individual financial products, payments, and fintech features to be embedded into bank or brand applications. This shift towards collaboration and a banking ecosystem enables banks to leverage the technical capabilities of embedded finance platforms that expose financial APIs, so the bank can focus on bringing products to market through diligent program management. Banks face several limitations regarding product innovation, most related to legacy Most legacy cores are not real-time, and transactions don’t become official until the end of the day processing. By using an embedded finance platform, banks can run accounts above the core through a virtual ledger, increasing speed to market without the need to invest vast sums of money into core modernization projects. Hence, all these advantages make building embedded finance products economically viable for banks. banking systems. Through this partnership, banks can subscribe to their own tech stack allowing them to use the platform’s technology to design products and services of their choosing, like gig-specific bundles, that may include payroll accounts with earned wages, micro-loans, and insurance.  Banks can create bundles specific to gig-industry verticals such as transportation services, like Uber, or asset-sharing services, like Airbnb. As banks partner with gig platforms, they can embed these products and bundles into their platform, making them more desirable employers to gig workers and creating new customers and core deposits. Essential tools needed by gig workers Financial management tools When workers don’t receive routine income, tracking spending and sticking to budgets is much more challenging. One way for banks to cater to the specific needs of gig workers is by providing financial management tools. For example, Moves Financial has created a gig-specific bank account with no fee or minimum balance and can track earnings and expenses from over 20 gig platforms. Another app, such as Para, is ideal for drivers within the gig industry with automatic integration with gig platforms like Uber, Grubhub, and Lyft, allowing drivers to compare earnings and mileage across gig platforms helping them to them make better work decisions. Moreover, since many gig workers are considered self-employed, this doesn’t make them eligible for health care which is a frequent benefit of full-time permanent employment. Yet, with apps like Starship, gig workers can save specifically for health care expenses for themselves and their families, with their investment earning interest tax-free. These financial tools can assist entrepreneurs and gig workers in keeping track of their contracts and payments, giving them greater control of their work and financial health. Payment integration A report from Wonolo found that of gig workers surveyed live paycheck to paycheck. Therefore, real-time payments are crucial for gig workers to accelerate capturing their income. 55% To overcome this frequent bugbear, banks can enable instant and secure transactions, and request to pay by integrating payment APIs into gig platforms. Another positive of providing payment integration is that it can increase bank processing time and reduce exchange rate volatility — essential for gig workers based in a different country than their employer. For example, before 2016, Uber drivers had to wait up to one week for payouts. However, Uber’s partnership with Mastercard Send and Green Dot, a fintech and bank holding company, allowed real-time payments to debit card holders and caused up to Uber drivers to sign up with Green Dot. 100,000 Tailored loans A recent survey from Rollee discovered that gig workers had been denied access to basic financial products, like loans, and 57% had to apply to more than three lenders before accessing a loan or credit card. seven out of ten These cash advances can help gig workers improve their day-to-day life and business prospects. For instance, small loans could cover car repairs, equipment purchases, and additional workspaces. By partnering with gig platforms, banks can also gain data insights and trends of gig workers, allowing the banks to create unique and gig-specific customer loans to a broader spectrum of gig workers who would have previously not qualified since work records would have been spread across various platforms. Wrapping up Through the power of open banking, banks can partner with embedded finance platforms, to serve a growing and previously marginalized area of the economy. By accessing previously unavailable customer data, banks will no longer view gig workers as risky customers with unstable incomes. Banks can improve gig workers’ daily lives and support business opportunities while opening themselves to another strong income stream. This article was originally published by on Riaz Syed 150Sec.

How Open Banking Helps Bridge the Financial Divide for Gig Workers

PotCoin is entering into a new era of innovation and community engagement. Introducing exclusive giveaways and rewards for dedicated PotCoin holders. The platform will rejuvenate the PotCoin community and incentivize loyal participants. The High Rollers Club will deliver exclusive benefits to PotCoin holders through a dynamic reward system, reigniting the excitement that first defined the PotCoin movement. The PotCoin High Rollers Vault introduces a straightforward, rewarding experience for dedicated crypto enthusiasts. Members can deposit their tokens into the Vault, where every PotCoin mints a raffle ticket for all exclusive High Roller giveaways. Prizes include limited-edition NFTs that grant access to special events, meeting celebrity stars, branded merchandise, and more; making each PotCoin an entry to exciting rewards. Uniquely, the High Rollers Vault requires no lock-up period; users can withdraw their coins anytime. Secured by the ERC-4626 token vault standard, the High Rollers Vault ensures security and transparency through smart contracts, enabling the most committed holders to benefit from the value they’ve helped create. Winners of the giveaways will automatically receive their unique rewards in their wallets, which are also tradeable on platforms such as OpenSea. Additionally, High Rollers gain access to a privileged check-in ticket system. The goal is to bring the community together and drive engaging experiences within the crypto space, celebrating loyalty and participation with exclusive rewards. An exclusive club where unique benefits and experiences await our most dedicated members. PotCoin is teaming up with superstars who are looking to give back to the community and their fans. These superstars want to meet PotCoin High Rollers in person at their shows and events! High Rollers NFTs PotCoin's inaugural High Rollers NFTs are for Meet & Greets with various superstars. Many more unique and exclusive utilities are coming soon! Exclusive invites to PotCoin-sponsored events! PotCoin sponsors many shows, parties, and events. High Rollers are eligible for special exclusive invites. The upcoming scheduled events will be updated and posted soon! And of course, High Rollers do NOT wait in line! Branded merchandise from our new clothing lines! PotCoin is currently expanding its branded clothing lines to include many options for men and women. We are starting with the most popular based on all the requests we’ve received so far. Additional Giveaways Branded hardware wallets, merchandise, and other items based on public demand from our community. PotCoin is more than just a cryptocurrency—it's a movement powered by community engagement, innovation, and a passion for giving back. We’re committed to creating a fun and rewarding experience for our loyal community. As we continue to push the boundaries of what's possible, we’re focused on building meaningful connections and delivering real value, driven by the belief that our community deserves more than just a token—they deserve opportunity and enjoyable experiences. PotCoin is here to accomplish what no memecoin has done before. Welcome, and thank you for joining us on this journey as we redefine what a cryptocurrency community can achieve together. Launched in 2014, Created by a group of visionary developers in Canada, PotCoin emerged as one of the most popular meme coins representing peace and love. Over the years PotCoin gained a loyal community and garnered global attention in 2017 when it sponsored Dennis Rodman’s Peacekeeping trip to North Korea. As a Legacy coin and one of the first, PotCoin has always stood as a symbol of peace and innovation in the cannabis space. Now, we're building on that legacy with renewed energy and purpose. To learn more about PotCoin, visit our website at www.potcoin.com This article is published under HackerNoon’s Business Blogging program. Do your own research before making any financial decisions. PotCoin is entering into a new era of innovation and community engagement. PotCoin PotCoin Introducing exclusive giveaways and rewards for dedicated PotCoin holders. The platform will rejuvenate the PotCoin community and incentivize loyal participants. The High Rollers Club will deliver exclusive benefits to PotCoin holders through a dynamic reward system, reigniting the excitement that first defined the PotCoin movement. The PotCoin High Rollers Vault introduces a straightforward, rewarding experience for dedicated crypto enthusiasts. Members can deposit their tokens into the Vault, where every PotCoin mints a raffle ticket for all exclusive High Roller giveaways. Prizes include limited-edition NFTs that grant access to special events, meeting celebrity stars, branded merchandise, and more; making each PotCoin an entry to exciting rewards. Uniquely, the High Rollers Vault requires no lock-up period; users can withdraw their coins anytime. Secured by the ERC-4626 token vault standard, the High Rollers Vault ensures security and transparency through smart contracts, enabling the most committed holders to benefit from the value they’ve helped create. Winners of the giveaways will automatically receive their unique rewards in their wallets, which are also tradeable on platforms such as OpenSea. Additionally, High Rollers gain access to a privileged check-in ticket system. The goal is to bring the community together and drive engaging experiences within the crypto space, celebrating loyalty and participation with exclusive rewards. An exclusive club where unique benefits and experiences await our most dedicated members. PotCoin is teaming up with superstars who are looking to give back to the community and their fans. These superstars want to meet PotCoin High Rollers in person at their shows and events! High Rollers NFTs High Rollers NFTs PotCoin's inaugural High Rollers NFTs are for Meet & Greets with various superstars. Many more unique and exclusive utilities are coming soon! Exclusive invites to PotCoin-sponsored events! PotCoin sponsors many shows, parties, and events. High Rollers are eligible for special exclusive invites. The upcoming scheduled events will be updated and posted soon! And of course, High Rollers do NOT wait in line! Branded merchandise from our new clothing lines! PotCoin is currently expanding its branded clothing lines to include many options for men and women. We are starting with the most popular based on all the requests we’ve received so far. Additional Giveaways Additional Giveaways Branded hardware wallets, merchandise, and other items based on public demand from our community. PotCoin is more than just a cryptocurrency—it's a movement powered by community engagement, innovation, and a passion for giving back. We’re committed to creating a fun and rewarding experience for our loyal community. As we continue to push the boundaries of what's possible, we’re focused on building meaningful connections and delivering real value, driven by the belief that our community deserves more than just a token—they deserve opportunity and enjoyable experiences. PotCoin is here to accomplish what no memecoin has done before. Welcome, and thank you for joining us on this journey as we redefine what a cryptocurrency community can achieve together. Launched in 2014, Created by a group of visionary developers in Canada, PotCoin emerged as one of the most popular meme coins representing peace and love. Over the years PotCoin gained a loyal community and garnered global attention in 2017 when it sponsored Dennis Rodman’s Peacekeeping trip to North Korea. As a Legacy coin and one of the first, PotCoin has always stood as a symbol of peace and innovation in the cannabis space. Now, we're building on that legacy with renewed energy and purpose. To learn more about PotCoin, visit our website at www.potcoin.com www.potcoin.com www.potcoin.com This article is published under HackerNoon’s Business Blogging program. Do your own research before making any financial decisions. This article is published under HackerNoon’s Business Blogging program. Do your own research before making any financial decisions. Business Blogging Business Blogging

PotCoin Announces the Launch of the High Rollers Club

PotCoin High Rollers Club-un işə başladığını elan edir

PotCoin annoncerer lanceringen af High Rollers Club

Το PotCoin ανακοινώνει την κυκλοφορία του High Rollers Club

PotCoin anuncia el lanzamiento del High Rollers Club

PotCoinがハイローラークラブの立ち上げを発表

PotCoin High Rollers клубының іске қосылғаны туралы хабарлайды

PotCoin E Tsebiša go Thakgolwa ga High Rollers Club

PotCoin ஹை ரோலர்ஸ் கிளப்பின் துவக்கத்தை அறிவிக்கிறது

PotCoin ифтитоҳи клуби баландро эълон мекунад

ፖትኮይን ምጅማር ክለብ ሃይ ሮለርስ ኣፍሊጡ

“PotCoin” “High Rollers” klubynyň döredilendigini habar berýär

PotCoin 宣布推出 High Rollers Club

Just like anything else in the tech industry, blockchain and crypto are evolving, facing growing pains, and gradually integrating into the mainstream. These past few years have basically been a roller coaster of emotions as bull and bear market cycles have swung investor sentiments wildly, creating a landscape of rapid highs and lows. In 2022, the value of popular cryptocurrencies declined precipitously with a series of dramatic events. This included the failure of multiple stablecoins, such as TerraUSD and Luna in May, and the collapse of FTX in November. Governments and regulatory bodies worldwide are also tightening their oversight of the crypto industry, seeking to address issues such as fraud, money laundering, and consumer protection. High-profile failures like FTX have led to calls for stricter regulations, adding to market instability. However, these cycles of boom and bust are not new to the crypto world; similar patterns were observed during previous market corrections in 2013 and 2018. 2023 saw the cryptocurrency industry recover from the scandals and declines of 2022. With crypto assets rebounding and market activity increasing throughout the year, many believe that the crypto winter is endingand a new growth phase is on the horizon. And Bitcoin (BTC) finally made a sweet revenge. The price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024. The Current State of Cryptocurrency So, where are we now? Let’s dive into this ever-evolving ecosystem to understand its present state and the path forward. Market Dynamics The year 2023 was primarily a recovery period for Bitcoin and cryptoassets, marked by significant events that influenced the outlook for the following years. Notably, BlackRock's spot Bitcoin ETF filing in June 2023 has already paved the way for greater adoption of this emerging asset class in 2024 and beyond. Ethereum's path towards increased scalability and efficiency, exemplified by the adoption of Layer 2 networks like Polygon and Arbitrum, represents a significant leap forward in enhancing transaction throughput and reducing fees. This progress is poised to boost Ethereum's adoption in DeFi and NFTs, highlighting the broader theme of technological advancements within the crypto-asset space. The DeFi sector is also on the verge of substantial growth, driven by institutional interest and the incorporation of KYC protocols. This fusion of traditional financial principles with decentralized frameworks signifies a maturing industry, ready for broader adoption and reflective of the evolving financial services landscape. In this context, One Trading highlights the importance of regulatory compliance, operating within a framework that adheres to European regulatory standards to provide a secure and transparent trading environment for all participants. Not only that, but the NFT sector is undergoing a vibrant resurgence, expanding into diverse areas such as art, gaming, and digital collectibles. The introduction of Bitcoin-based NFTs and the growth of marketplaces demonstrate the sector's versatility and rising mainstream appeal, emphasizing the broader integration of blockchain technology into digital culture and commerce. Institutional Adoption Companies like MicroStrategy made headlines by allocating a portion of their treasury reserves to Bitcoin. Investment banks such as Goldman Sachs and Morgan Stanley also have begun offering cryptocurrency investment products to their clients, which signals a shift toward mainstream acceptance. Institutional adoption of cryptocurrencies is gaining momentum, with major financial institutions, corporations, and investment funds incorporating digital assets into their portfolios. The entrance of major players like BlackRock into the Bitcoin space has set the stage for increased institutional adoption. Throughout 2023, numerous new participants emerged on public permissionless networks, providing direct on-chain access to tokenized US Treasury exposure. As a result, total assets held in US Treasury-like exposure on-chain have surged sixfold to over $786 million, as digitally native users have pursued yields unlinked to traditional crypto sources. In June 2024, the total market cap for all cryptocurrencies hit an impressive $2.3 trillion, showing just how much institutions and investors around the globe are getting into crypto. Regulatory Environment Regulatory scrutiny of cryptocurrencies is intensifying globally by reflecting authorities' efforts to balance innovation with investor protection and financial stability. While regulatory clarity remains a challenge in some jurisdictions, proactive regulatory frameworks are beginning to emerge, providing a more stable operating environment for crypto businesses. Countries like Switzerland and Singapore have established clear regulatory frameworks for cryptocurrencies– which create innovation while implementing investor protection. Social Impact Cryptocurrency's potential to drive positive social impact is increasingly recognized, particularly in the areas of financial inclusion and remittances. Initiatives leveraging blockchain technology to facilitate micropayments, cross-border transfers, and access to financial services in underserved regions are gaining traction. Initiatives like the Stellar Development Foundation's partnership with the Ministry of Digital Transformation in Ukraine aim to digitize the country's national currency and improve financial inclusion. In Africa, projects like BitPesa also facilitate cross-border remittances and access to financial services for the unbanked population. It goes without saying that the adoption of Bitcoin and other crypto assets like Ethereum is still in its early stages in most developed countries. Recent surveys on retail adoption in 2023 indicate a global adoption rate of around 18%, meaning roughly one in five individuals worldwide currently holds some form of cryptoasset. There were over 34,000 Bitcoin ATMs all over the world as of January 1, 2024. The Upcoming Challenges… Of course, there are risks for crypto in the future as well. Here are some of the significant challenges on the horizon: Tougher Regulation As the cryptocurrency market matures, it faces the prospect of stricter regulatory oversight from governments and regulatory bodies worldwide. Regulatory challenges such as recent SEC actions against major exchanges like Binance and Coinbase highlight the growing regulatory challenges within the industry. Increased regulation could impact the accessibility and operation of crypto exchanges, projects, and financial products, potentially stifling innovation and adoption. Long-term Viability Questions surrounding the long-term viability of cryptocurrencies persist, particularly regarding their ability to maintain value and relevance over time. Factors such as technological advancements, market sentiment, and competition from traditional financial systems could influence the sustainability of cryptocurrencies as viable assets and mediums of exchange. Environmental Concerns The environmental impact of cryptocurrency mining, particularly for proof-of-work-based networks like Bitcoin, remains a pressing concern. Rising energy consumption and carbon emissions associated with mining operations could exacerbate environmental degradation and contribute to climate change. This, for sure, prompts calls for greener alternatives and sustainable practices within the industry. According to an analysis by the University of Cambridge, bitcoin mining is estimated to consume 121.36 terawatt-hours annually. This surpasses the energy consumption of Argentina and exceeds the combined consumption of tech giants like Google, Apple, Facebook, and Microsoft. It Has Come a Long Way …. One thing that is consistent in the crypto industry is the inconsistency. It continues its journey of growth, expansion, and evolution. Not every protocol will withstand the challenges ahead, but with ongoing adoption by users, developers, and institutions, coupled with the emergence of innovative applications, cryptocurrency is poised to continue its maturation process. Editor’s Note: This story was written using the Bitcoin Writing Contest template. To take part in the contest, feel free to head to the following link for a chance to win thousands of dollars in prizes. Need more ideas? See submissions from other writers under the #bitcoin tag. Just like anything else in the tech industry, blockchain and crypto are evolving, facing growing pains, and gradually integrating into the mainstream. blockchain and crypto These past few years have basically been a roller coaster of emotions as bull and bear market cycles have swung investor sentiments wildly, creating a landscape of rapid highs and lows. In 2022, the value of popular cryptocurrencies declined precipitously with a series of dramatic events. This included the failure of multiple stablecoins, such as TerraUSD and Luna in May, and the collapse of FTX in November. the collapse of FTX the collapse of FTX Governments and regulatory bodies worldwide are also tightening their oversight of the crypto industry, seeking to address issues such as fraud, money laundering, and consumer protection. High-profile failures like FTX have led to calls for stricter regulations, adding to market instability. However, these cycles of boom and bust are not new to the crypto world; similar patterns were observed during previous market corrections in 2013 and 2018. cycles of boom cycles of boom 2023 saw the cryptocurrency industry recover from the scandals and declines of 2022. With crypto assets rebounding and market activity increasing throughout the year, many believe that the crypto winter is ending and a new growth phase is on the horizon. the crypto winter is ending And Bitcoin (BTC) finally made a sweet revenge. The price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024. The Current State of Cryptocurrency The Current State of Cryptocurrency So, where are we now? Let’s dive into this ever-evolving ecosystem to understand its present state and the path forward. Market Dynamics Market Dynamics The year 2023 was primarily a recovery period for Bitcoin and cryptoassets, marked by significant events that influenced the outlook for the following years. Notably, BlackRock's spot Bitcoin ETF filing in June 2023 has already paved the way for greater adoption of this emerging asset class in 2024 and beyond. Ethereum's path towards increased scalability and efficiency, exemplified by the adoption of Layer 2 networks like Polygon and Arbitrum, represents a significant leap forward in enhancing transaction throughput and reducing fees. This progress is poised to boost Ethereum's adoption in DeFi and NFTs, highlighting the broader theme of technological advancements within the crypto-asset space. The DeFi sector is also on the verge of substantial growth, driven by institutional interest and the incorporation of KYC protocols. This fusion of traditional financial principles with decentralized frameworks signifies a maturing industry, ready for broader adoption and reflective of the evolving financial services landscape. In this context, One Trading highlights the importance of regulatory compliance, operating within a framework that adheres to European regulatory standards to provide a secure and transparent trading environment for all participants. Not only that, but the NFT sector is undergoing a vibrant resurgence, expanding into diverse areas such as art, gaming, and digital collectibles. The introduction of Bitcoin-based NFTs and the growth of marketplaces demonstrate the sector's versatility and rising mainstream appeal, emphasizing the broader integration of blockchain technology into digital culture and commerce. Institutional Adoption Institutional Adoption Companies like MicroStrategy made headlines by allocating a portion of their treasury reserves to Bitcoin. Investment banks such as Goldman Sachs and Morgan Stanley also have begun offering cryptocurrency investment products to their clients, which signals a shift toward mainstream acceptance. Goldman Sachs and Morgan Stanley also have begun offering cryptocurrency investment Goldman Sachs and Morgan Stanley also have begun offering cryptocurrency investment Institutional adoption of cryptocurrencies is gaining momentum, with major financial institutions, corporations, and investment funds incorporating digital assets into their portfolios. The entrance of major players like BlackRock into the Bitcoin space has set the stage for increased institutional adoption. Throughout 2023, numerous new participants emerged on public permissionless networks, providing direct on-chain access to tokenized US Treasury exposure. As a result, total assets held in US Treasury-like exposure on-chain have surged sixfold to over $786 million, as digitally native users have pursued yields unlinked to traditional crypto sources. In June 2024, the total market cap for all cryptocurrencies hit an impressive $2.3 trillion, showing just how much institutions and investors around the globe are getting into crypto. Regulatory Environment Regulatory Environment Regulatory scrutiny of cryptocurrencies is intensifying globally by reflecting authorities' efforts to balance innovation with investor protection and financial stability. While regulatory clarity remains a challenge in some jurisdictions, proactive regulatory frameworks are beginning to emerge, providing a more stable operating environment for crypto businesses. Countries like Switzerland and Singapore have established clear regulatory frameworks for cryptocurrencies– which create innovation while implementing investor protection. clear regulatory frameworks clear regulatory frameworks Social Impact Social Impact Cryptocurrency's potential to drive positive social impact is increasingly recognized, particularly in the areas of financial inclusion and remittances. Initiatives leveraging blockchain technology to facilitate micropayments, cross-border transfers, and access to financial services in underserved regions are gaining traction. Initiatives like the Stellar Development Foundation's partnership with the Ministry of Digital Transformation in Ukraine aim to digitize the country's national currency and improve financial inclusion. In Africa, projects like BitPesa also facilitate cross-border remittances and access to financial services for the unbanked population. Stellar Development Foundation's partnership with the Ministry of Digital Transformation Stellar Development Foundation's partnership with the Ministry of Digital Transformation It goes without saying that the adoption of Bitcoin and other crypto assets like Ethereum is still in its early stages in most developed countries. Recent surveys on retail adoption in 2023 indicate a global adoption rate of around 18%, meaning roughly one in five individuals worldwide currently holds some form of cryptoasset. There were over 34,000 Bitcoin ATMs all over the world as of January 1, 2024. Recent surveys 34,000 Bitcoin ATMs The Upcoming Challenges… The Upcoming Challenges… Of course, there are risks for crypto in the future as well. Here are some of the significant challenges on the horizon: Tougher Regulation Tougher Regulation As the cryptocurrency market matures, it faces the prospect of stricter regulatory oversight from governments and regulatory bodies worldwide. Regulatory challenges such as recent SEC actions against major exchanges like Binance and Coinbase highlight the growing regulatory challenges within the industry. Increased regulation could impact the accessibility and operation of crypto exchanges, projects, and financial products, potentially stifling innovation and adoption. Long-term Viability Long-term Viability Questions surrounding the long-term viability of cryptocurrencies persist, particularly regarding their ability to maintain value and relevance over time. Factors such as technological advancements, market sentiment, and competition from traditional financial systems could influence the sustainability of cryptocurrencies as viable assets and mediums of exchange. Environmental Concerns Environmental Concerns The environmental impact of cryptocurrency mining, particularly for proof-of-work-based networks like Bitcoin, remains a pressing concern. Rising energy consumption and carbon emissions associated with mining operations could exacerbate environmental degradation and contribute to climate change. This, for sure, prompts calls for greener alternatives and sustainable practices within the industry. According to an analysis by the University of Cambridge , bitcoin mining is estimated to consume 121.36 terawatt-hours annually. This surpasses the energy consumption of Argentina and exceeds the combined consumption of tech giants like Google, Apple, Facebook, and Microsoft. analysis by the University of Cambridge analysis by the University of Cambridge It Has Come a Long Way …. It Has Come a Long Way …. One thing that is consistent in the crypto industry is the inconsistency. It continues its journey of growth, expansion, and evolution. Not every protocol will withstand the challenges ahead, but with ongoing adoption by users, developers, and institutions, coupled with the emergence of innovative applications, cryptocurrency is poised to continue its maturation process. Editor’s Note: This story was written using the Bitcoin Writing Contest template. To take part in the contest, feel free to head to the following link for a chance to win thousands of dollars in prizes. Editor’s Note: This story was written using the Bitcoin Writing Contest template. To take part in the contest, feel free to head to the following link for a chance to win thousands of dollars in prizes. Editor’s Note: This story was written using the Bitcoin Writing Contest template. To take part in the contest, feel free to head to the following link for a chance to win thousands of dollars in prizes. link Need more ideas? See submissions from other writers under the #bitcoin tag. Need more ideas? See submissions from other writers under the #bitcoin tag. #bitcoin

Crypto Chronicles: Riding the Digital Rollercoaster

ক্রিপ্টো ক্রনিকলস: ডিজিটাল রোলারকোস্টার রাইডিং

Crypto Chronicles: Eine Fahrt auf der digitalen Achterbahn

Crypto Chronicles: Montando la montaña rusa digital

Crypto Chronicles : sur les montagnes russes numériques

क्रिप्टो क्रॉनिकल्स: डिजिटल रोलरकोस्टर की सवारी

暗号クロニクル: デジタルジェットコースターに乗る

Crypto Chronicles: 디지털 롤러코스터를 타고

Crypto Chronicles: andando na montanha-russa digital

Криптохроники: катание на цифровых американских горках

Crypto Chronicles: Dijital Hız Trenine Binmek

Biên niên sử tiền điện tử: Đi tàu lượn siêu tốc kỹ thuật số

加密货币纪事：乘坐数字过山车

In this exclusive piece, we delve into the latest trends in to provide a concise overview of the developments over the past year as we emerge from the crypto winter. crypto adoption Here is a rundown of the highlights: After setbacks last year, grassroots crypto adoption (average, everyday people adopting crypto) dipped in Q1 and Q2. Activity has however rebounded fueled by U.S. speculations. Crypto Adoption rates dropped in Q1 & Q2 2023: Bitcoin Spot ETF North America, led by the United States, still dominates the global crypto transaction volumes with a total of  24.4% of the total volume. North America's Dominance: Lower-middle-income (LMI) countries like India, Vietnam, and Nigeria outpace more developed counterparts in crypto adoption Emerging Nations Leading Adoption: The drop in stablecoin adoption in North America can primarily be attributed to regulatory concerns. In contrast, Latin America, facing high inflation, shows rising demand for stablecoins. North America’s Stablecoin demand dips, Latin America soars: The CNWE is one of the three regions where the regional year-over-year (YoY) growth of value sent to DeFi protocols saw an increase, alongside Central & Southern Asia, Oceania, and Eastern Europe. DeFi Adoption Slowed down, but not everywhere: Crypto ownership leans heavily towards males (74%) and individuals aged 18-34 (53%), signaling a significant gender gap and higher adoption among millennials and Gen Z. Crypto Demographics: Participants speculate that approval of a U.S.-based spot Bitcoin ETF could attract increased institutional adoption. Microstrategy added 6600 BTC in Q3. Institutional Bitcoin Adoption: The main factors driving adoption include hedging against inflation, remittances, gaming, gambling, and crypto seen as a store of value or portfolio diversification. Main Drivers for Adoption: The Global Index Score by Quarter Declined in Q1 & Q2 2023 The global crypto adoption index score is a metric that crypto analysis firm Chainalysis uses to rank which countries are leading in grassroots crypto adoption. This score is made up of five sub-indexes but leverages three major datasets; on-chain retail value received at centralised exchanges, P2P exchange trade volume, and on-chain crypto value received from DeFi protocols. In Q1 and Q2, the global index score dropped to around 0.36. This is less than half what the score was during the 2021 bull market highs. However, the trend might soon change, given that market activity has bounced back on speculations of a possible Bitcoin Spot ETF approval in the U.S. as early as 2024. North America Enjoys the Lion’s Share in Transaction Value North America, led by the United States, still dominates the global crypto transaction volumes with a total of  24.4% of the total volume. North America is followed by Central, Northern, and Western Europe, while Sub-Saharan Africa accounts for the least share. Notably, over 50% of the transaction volume and value in North America is attributed to large institutions (>10M), indicating rising crypto adoption by institutions in this region despite the uncertainty in regulatory frameworks. Should Blackrock’s spot Bitcoin ETF be approved, we are likely to see more capital inflows from the traditional players who hold trillions of dollars in AUM. Source: Chainalysis Emerging Markets Leading Crypto Adoption According to the index ranking by Chainalysis, lower-middle-income (LMI) countries are adopting crypto assets at a faster rate than their advanced counterparts. India ranked as the number 1 jurisdiction in crypto adoption, followed by Vietnam and Nigeria. Out of the top 10, only the United States falls above the upper-middle-income classification. Notably, while transaction volumes took a nosedive in most countries, there were, however, a handful of LMI countries that recorded positive year-over-year (YoY) growth in crypto transaction volume. They include Vietnam, Nigeria,  Taiwan, and Indonesia. Source: Chainalysis Stablecoin Adoption Declined in North America, Surged in Latin America Another intriguing trend is the shifting dynamics in stablecoin adoption. In North America, the share of stablecoin transaction volumes dropped from 70.3% to 48.8%; this can be primarily attributed to the regulatory stance taken by authorities in the U.S., who have been against stablecoins, particularly after the collapse of SVB, Signature, and Silvergate, which temporarily caused USDC to depeg. Source: Chainalysis Contrastingly, in Latin America, especially countries like Argentina and Venezuela, which have been plagued by high inflation rates, the demand for stablecoins is on the rise. Most people in these economies are turning to USDC or USDT as a safe haven against currency devaluation, with some immediately converting their salaries into USD-backed stablecoins. Argentina is Worth Paying Attention to It will be interesting to watch how things unfold in Argentina, which recently elected the  Pro-Bitcoin President, Javier Milei. Already, there was a clear trend that as the Peso lost value, crypto purchases increased. Whether or not President Javier Milei will favor crypto adoption remains uncertain, but what is certain is that crypto is turning out to be a preferred store of value in Argentina hence the increase in adoption. Source: Chainalysis DeFi is Still a Gateway for Adoption Since the crypto market peaked in November 2021, the total value locked (TVL) has dropped from the highs of $180 billion to $47 billion as of writing. However, this is not to say that DeFi adoption has been stagnant; in Central, Northern, & Western Europe, DeFi accounted for 54.8% of the total value of crypto assets received. The CNWE is one of the three regions where the regional year-over-year (YoY) growth of value sent to DeFi protocols saw an increase, alongside Central & Southern Asia, Oceania, and Eastern Europe. Source: Chainalysis Crypto is a Young Lads Game According to , a survey done in the U.S towards the end of 2022 revealed that only 9% of the respondents have exposure to a crypto asset. Statista 74% of the respondents who own crypto were male, which shows there is still a huge gender gap in crypto adoption and ownership. 53% of the respondents who own crypto are between the age of 18 - 34, 35% were between 35 - 54 while the remaining 12% were above 55 years. Clearly, crypto adoption is more prevalent amongst millennials and GenZ compared to the older generations. Source: Statista Institutions Are Coming for Your Bitcoin! It is no secret that institutions are positioning themselves to get more crypto exposure; in Q3 alone, Microstrategy added over 6600 BTC to its portfolio and now holds 158,400 BTC at an average entry price of $29,609.65. As mentioned earlier, the approval of a U.S Spot Bitcoin ETF will attract more institutions into the space. For more insights on the state of crypto institutional adoption, we published an in-depth in August 2023 covering the rise of institutional crypto adoption. article Source: Coingecko Main Drivers for Crypto Adoption Several factors are driving the adoption of crypto assets, here are some of the major catalysts in this paradigm shift: From the analysis, it is quite clear that most of the countries that are leading in adoption are facing inflation or currency devaluation. A few of the examples that ranked in the top 20 include Nigeria, Turkey and Argentina. Hedging Against Inflation or Currency Devaluation: The global remittance market was valued at $830 billion in 2022, but while remittances play a major role in countries such as Mexico, sending money back home can cost as much as 6.3% according to a World Bank report. That being the case, it is not surprising that Latin American countries are aggressively adopting crypto for remittances. Remittances: While the may have slowed down activity, there is still a significant influence in adoption. In the Philippines where Axie Infinity was at some point the most popular game, 19% of the country’s crypto-related traffic targets gaming and gambling-related products. Gambling, Gaming, and Speculation: NFT bear market This year alone, BTC is up over 120%, making it one of the best-performing assets if not the best. A by Nasdaq last year revealed that 72% of financial advisers would likely allocate some capital to crypto if the U.S authorities were to approve an ETF. Store of value or portfolio diversification: survey Conclusion The path to mainstream adoption in the crypto market is still long. Notably, significant hurdles exist in on and off-ramping, with many crypto companies lacking access to reliable banking facilities or financial service providers. Additionally, regulatory inertia, particularly in the U.S., has led to a mass exodus of crypto companies seeking more favorable environments abroad. \To propel crypto adoption into the mainstream, these critical issues must be tackled. This could involve innovative solutions, such as the alternative banking platform we are launching at , or a collaborative effort by all stakeholders to establish standardized frameworks for jurisdictional operation. Peanuds Also published . here Stay Updated - Follow me on Twitter! Enjoyed these insights? There's more where that came from. Follow me on for daily tidbits and updates. Twitter/X

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My Blogging Journey My personal journey in tech blogging has been a roller coaster ride. I have been blogging ever since I entered the IT industry as a new entrant in 2008. It was driven by the passion for learning new technology and exploring stuff that is contrary to my regular day-to-day job. So when I was working as an Android application developer, in my personal time, I was trying to learn J2EE and Apache Struts. And, I love taking notes along the way while doing small and simple POCs. At that time, there was no application like Notion, so I decided to create a website using Google Blogspot and started capturing all my notes there. Those notes mainly served as a bookmark, so I could refresh my memory whenever I wanted. Slowly, I started to like writing detailed tutorials and sharing my knowledge which some of my friends, and colleagues loved to read. And that is how I was introduced to blogging. But, I never wanted to be a full-time blogger. I never believed I had that spark, that would make my livelihood out of it. That made me a passive blogger. 7 Blogging Mistakes I Wish I Had Known Before Over the years, I've had my fair share of experiences as a passive blogger, and through trial and error, I've learned valuable lessons that I wish I had known earlier. In this blog post, I'll share these insights with you, in the hope that they'll help you on your own blogging journey. This post is probably too long for you. You don't need to spend all your time reading this unless you really want to hear my story. Let’s cut to the chase: Content is the king, but consistency is the key to success! Building a distribution channel is more important than building a great site. You don't need a perfect domain or perfect site design. No one gives a shit about your domain name or site design as long as you have the X factor in your content. Understand your niche. Don't try to be a jack of all; you may appear as a jackass. SEO is the secret weapon. The earlier you realize the better for your site growth. Engagements are more important than having a larger number of subscribers/followers. Social media can help you to create the hype, but a simple mistake can fuck up your whole strategy. So use it cautiously. Only, for not-so-busy people: Nothing new here, but I expand on these above topics. 1. Content Is the King, but Consistency Is the Key to Success! Great content is essential for any successful blog; this is a must-have. However, consistency is equally important. You need to strike the right balance between quality and quantity. As a lone worrier, I used to dedicate a few hours over a weekend to produce 2/3 articles for my blog. But I never realized that we need to be consistent in publishing stories. I used to publish 3/4 articles in a day, and then nothing for the rest of the month. Publishing many articles a day, makes your readers overwhelmed with content so it is very unlikely that all your stories will be read by everyone. But publishing a story on a regular interval, let’s say every Sunday, will definitely drive more engagement, and your readers will love to spend a few minutes reading a story per week. 2. Building a Distribution Channel Is More Important Than Building a Great Site Great content is like a hidden treasure; it is worth only when discovered by your readers. Without having an effective distribution strategy no one will ever find what you write. You need to plan your distribution strategy including content syndication, building email lists, social media groups, etc. 3. You Don't Need a Perfect Domain or Perfect Site Design Many aspiring bloggers get caught up in the quest for the perfect domain name or website design. While these factors are important, they are not as critical as the quality and uniqueness of your content. 4. Understand Your Niche Trying to cover too many topics can dilute your blog's identity and make you appear unfocused. Find out why it's crucial to understand your niche, and become an authority in it. 5. SEO is the Secret Weapon Search Engine Optimization (SEO) can be a game-changer for your blog's growth and to drive organic traffic to your blog. While SEO strategy might sound easy when you Google these topics, there is a vast amount of science behind it. Some of these include: Having a catchy page title (not clickbait) and page description. Maintain a structural hierarchy of your content on the page Canonical and SEO-friendly page links Backlinks and building trustworthiness Page loading speed Image and video annotations and structured content markup Submit the site to search engines These are just a few of these SEO strategies to start with. 6. Engagements Are More Important Than a Large Number of Subscribers/Followers It's not just about the numbers. Don't always throw your stuff; expand your social posts to other stuff including a photo from your pub night or day out with your kids. People love to connect with humans more than a BOT🤖. Engaging with your audience, building a community, and nurturing relationships can be more valuable than having a massive but passive following. 7. Social Media: Hype and Caution Social media can be a double-edged sword. Learn how to leverage its potential to create excitement around your blog while avoiding common pitfalls that can harm your strategy. In Summary, I am not a very successful blogger. I never made direct money out of my blogging. However, blogging enabled me to expand my horizons and build connections. Using my blogging connections, I have published books, built projects, and earned sufficient money to call out “My Blogging Journey has been Worthwhile!” Happy blogging! Also published here

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Conversational AI has become an indispensable tool for tech companies who are looking to elevate their user experience (UX). AI-powered chatbots and other design tools now have capabilities far beyond their early iterations. We have now reached a point where designers can both incorporate AI into their design solutions and the design process itself. The integration of chatbots with current systems and applications has made them an essential addition to all areas of a tech company, whether this is in customer support, sales, or internal process automation. This is reflected in the numbers, where chatbots have reached a market size of USD 5.9 billion, with an estimated CAGR of over 30% incoming between 2024 and 2032. But chatbots are just one tool, there are lots of other forms of AI being rolled out in UX design. All of them with the aim of helping businesses refine their strategies in their own way, improving the user experiences in the process. Let’s examine the increasing presence of AI in enhancing UX, looking at what tools designers can utilize before discussing ethical considerations and the future outlook. The Impact of Conversational AI on UX One of the clearest ways that AI chatbots improve UX is through customer support automation. Traditionally, customer support has been the bane of users’ lives, with long wait times and ticketing systems that have left everyone frustrated. Modern AI chatbots get to the bottom of this by providing instant responses to whatever the query may be, whether it’s troubleshooting steps on a device or even account management. According to IBM, chatbots can reduce overall wait times to 33 seconds or less and increase customer engagement by 40%. But it is not just a question of improved efficiency, conversational AI leads to cost savings, due to automating routine tasks and allocating human agents to handle cases that are more complex. Conversational AI can also transform how tech companies handle user onboarding and product guidance. In project management software, chatbots can quickly guide users through processes such as project setup and task assignment, which makes the product more accessible and intuitive. Finally, when it comes to use cases, the impact depends on the industry. In retail and e-commerce, AI chatbots can improve customer service and loyalty through round-the-clock, multilingual support and lead generation. Marketing and advertising teams can benefit from AI’s personalized product suggestions, boosting customer lifetime value. Whereas finance and banking institutions can leverage AI for information services and fraud prevention, while transportation may use it to facilitate ride-booking and tracking, elevating the user experience. Other AI-Powered UX Design Tools AI supports designers in gathering and analyzing data from various sources, such as user feedback, surveys, social media, and website analytics. Designers can then detect patterns while gaining insights and identifying trends within the data so that they can make more informed decisions about product design and UX. If we take Adobe's Sensei as an example, it demonstrates an AI-powered tool made to enhance designer productivity by streamlining workflows. Sensei employs machine learning to automate tasks like image recognition, color matching, and font selection. This automation, in turn, reduces the time designers spend on routine tasks, giving them more time to concentrate on higher-level creative work. AI tools can also accelerate rapid prototyping by generating user testing scripts. Using platforms such as Usertesting.com, where designers can gather real user feedback, apply critical thinking, and identify key insights, designers can enable effective A/B testing and deeper analysis of user behavior in design iterations. Challenges and Ethical Considerations Despite all these positives, integrating AI into UX design tools has not come without its own challenges for design professionals. While AI-based tools, such as image generation and intelligent prototyping software, are great for enhancing efficiency, UX designers have expressed concerns in various papers and forums about what the creative and ethical implications might be. One common complaint comes from the idea that creativity may be stifled, leading to an overreliance on automated solutions that inhibit fundamental design skills. And there is also the issue of concerns regarding the IP of the material used to train AI to create "art”. Also, security is at the forefront of designers' minds. AI systems can carry biases from their training data and raise privacy risks, especially if user data is vulnerable to misuse or hacking. The well-known AI limitations regarding its ability to understand empathy and cultural nuances can result in unintended misinterpretations of design outputs. A group of UX professionals, who were surveyed recently, highlighted the need for ongoing training to understand AI’s technical and ethical boundaries better. Ultimately, designers must find a balance between the technical capabilities of AI and human-centric design principles to maintain an innovative yet responsible approach to UX design. Regulation and Future Trends The future of AI in UX design will be increasingly shaped by the introduction of legal standards. The United Nations and the European Union have already begun work to establish regulatory frameworks, with 2024 being a crucial year in seeing whether policies lead to action. For example, the upcoming EU AI Act, which will be officially in place in 2026, will require companies to provide transparency regarding the purpose and data sources of their AI models, comply with copyright laws, and even disclose training data used in their systems. These trends will only increase the demand for new skills in UX design from designers who are willing to navigate the ethical and privacy concerns, as well as real-time monitoring requirements for AI-driven interfaces. Future AI frameworks will likely need to include mechanisms to ensure compliance and continuously monitor its impact so that there is a responsible and user-centered approach to design established. Conversational AI has become an indispensable tool for tech companies who are looking to elevate their user experience (UX). AI-powered chatbots and other design tools now have capabilities far beyond their early iterations. We have now reached a point where designers can both incorporate AI into their design solutions and the design process itself. Conversational AI has become an indispensable tool for tech companies who are looking to elevate their user experience (UX). AI-powered chatbots and other design tools now have capabilities far beyond their early iterations. We have now reached a point where designers can both incorporate AI into their design solutions and the design process itself. The integration of chatbots with current systems and applications has made them an essential addition to all areas of a tech company, whether this is in customer support, sales, or internal process automation. This is reflected in the numbers, where chatbots have reached a market size of USD 5.9 billion, with an estimated CAGR of over 30% incoming between 2024 and 2032. The integration of chatbots with current systems and applications has made them an essential addition to all areas of a tech company, whether this is in customer support, sales, or internal process automation. This is reflected in the numbers, where chatbots have reached a market size of USD 5.9 billion, with an estimated CAGR of over 30% incoming between 2024 and 2032 . 30% incoming between 2024 and 2032 30% incoming between 2024 and 2032 But chatbots are just one tool, there are lots of other forms of AI being rolled out in UX design. All of them with the aim of helping businesses refine their strategies in their own way, improving the user experiences in the process. Let’s examine the increasing presence of AI in enhancing UX, looking at what tools designers can utilize before discussing ethical considerations and the future outlook. But chatbots are just one tool, there are lots of other forms of AI being rolled out in UX design. All of them with the aim of helping businesses refine their strategies in their own way, improving the user experiences in the process. Let’s examine the increasing presence of AI in enhancing UX, looking at what tools designers can utilize before discussing ethical considerations and the future outlook. The Impact of Conversational AI on UX The Impact of Conversational AI on UX One of the clearest ways that AI chatbots improve UX is through customer support automation. Traditionally, customer support has been the bane of users’ lives, with long wait times and ticketing systems that have left everyone frustrated. Modern AI chatbots get to the bottom of this by providing instant responses to whatever the query may be, whether it’s troubleshooting steps on a device or even account management. According to IBM, chatbots can reduce overall wait times to 33 seconds or less and increase customer engagement by 40% . But it is not just a question of improved efficiency, conversational AI leads to cost savings, due to automating routine tasks and allocating human agents to handle cases that are more complex. 33 seconds or less and increase customer engagement by 40% 33 seconds or less and increase customer engagement by 40% Conversational AI can also transform how tech companies handle user onboarding and product guidance. In project management software, chatbots can quickly guide users through processes such as project setup and task assignment, which makes the product more accessible and intuitive. Finally, when it comes to use cases, the impact depends on the industry. In retail and e-commerce, AI chatbots can improve customer service and loyalty through round-the-clock, multilingual support and lead generation. Marketing and advertising teams can benefit from AI’s personalized product suggestions, boosting customer lifetime value. Whereas finance and banking institutions can leverage AI for information services and fraud prevention, while transportation may use it to facilitate ride-booking and tracking, elevating the user experience. Other AI-Powered UX Design Tools AI supports designers in gathering and analyzing data from various sources, such as user feedback, surveys, social media, and website analytics. Designers can then detect patterns while gaining insights and identifying trends within the data so that they can make more informed decisions about product design and UX. If we take Adobe's Sensei as an example, it demonstrates an AI-powered tool made to enhance designer productivity by streamlining workflows. Sensei employs machine learning to automate tasks like image recognition, color matching, and font selection. This automation, in turn, reduces the time designers spend on routine tasks, giving them more time to concentrate on higher-level creative work. AI tools can also accelerate rapid prototyping by generating user testing scripts. Using platforms such as Usertesting.com, where designers can gather real user feedback, apply critical thinking, and identify key insights, designers can enable effective A/B testing and deeper analysis of user behavior in design iterations. Challenges and Ethical Considerations Despite all these positives, integrating AI into UX design tools has not come without its own challenges for design professionals. While AI-based tools, such as image generation and intelligent prototyping software, are great for enhancing efficiency, UX designers have expressed concerns in various papers and forums about what the creative and ethical implications might be. various papers various papers One common complaint comes from the idea that creativity may be stifled, leading to an overreliance on automated solutions that inhibit fundamental design skills. And there is also the issue of concerns regarding the IP of the material used to train AI to create "art”. Also, security is at the forefront of designers' minds. AI systems can carry biases from their training data and raise privacy risks, especially if user data is vulnerable to misuse or hacking. The well-known AI limitations regarding its ability to understand empathy and cultural nuances can result in unintended misinterpretations of design outputs. A group of UX professionals, who were surveyed recently, highlighted the need for ongoing training to understand AI’s technical and ethical boundaries better . Ultimately, designers must find a balance between the technical capabilities of AI and human-centric design principles to maintain an innovative yet responsible approach to UX design. understand AI’s technical and ethical boundaries better understand AI’s technical and ethical boundaries better Regulation and Future Trends The future of AI in UX design will be increasingly shaped by the introduction of legal standards. The United Nations and the European Union have already begun work to establish regulatory frameworks, with 2024 being a crucial year in seeing whether policies lead to action. For example, the upcoming EU AI Act , which will be officially in place in 2026, will require companies to provide transparency regarding the purpose and data sources of their AI models, comply with copyright laws, and even disclose training data used in their systems. EU AI Act EU AI Act These trends will only increase the demand for new skills in UX design from designers who are willing to navigate the ethical and privacy concerns, as well as real-time monitoring requirements for AI-driven interfaces. Future AI frameworks will likely need to include mechanisms to ensure compliance and continuously monitor its impact so that there is a responsible and user-centered approach to design established.

How Has AI Impacted UX for Tech Companies, and What Does the Future Hold?

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