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Steadily

The $30,000 Bequest, and Other Stories by Mark Twain, is part of the HackerNoon Books Series. You can jump to any chapter in this book . CHAPTER VI here CHAPTER VI Daily the child sank lower and steadily lower towards the grave, and daily the sorrowing old watchers carried gilded tidings of her radiant health and loveliness to the happy mother, whose pilgrimage was also now nearing its end. And daily they forged loving and cheery notes in the child's hand, and stood by with remorseful consciences and bleeding hearts, and wept to see the grateful mother devour them and adore them and treasure them away as things beyond price, because of their sweet source, and sacred because her child's hand had touched them. At last came that kindly friend who brings healing and peace to all. The lights were burning low. In the solemn hush which precedes the dawn vague figures flitted soundless along the dim hall and gathered silent and awed in Helen's chamber, and grouped themselves about her bed, for a warning had gone forth, and they knew. The dying girl lay with closed lids, and unconscious, the drapery upon her breast faintly rising and falling as her wasting life ebbed away. At intervals a sigh or a muffled sob broke upon the stillness. The same haunting thought was in all minds there: the pity of this death, the going out into the great darkness, and the mother not here to help and hearten and bless. Helen stirred; her hands began to grope wistfully about as if they sought something—she had been blind some hours. The end was come; all knew it. With a great sob Hester gathered her to her breast, crying, “Oh, my child, my darling!” A rapturous light broke in the dying girl's face, for it was mercifully vouchsafed her to mistake those sheltering arms for another's; and she went to her rest murmuring, “Oh, mamma, I am so happy—I longed for you—now I can die.” Two hours later Hester made her report. The mother asked: “How is it with the child?” “She is well.” About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Mark Twain (2004). The $30,000 Bequest, and Other Stories. Urbana, Illinois: Project Gutenberg. Retrieved October 2022 https://www.gutenberg.org/cache/epub/142/pg142-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

Daily the child sank lower and steadily lower towards the grave

. Because one of the most common use cases of the new databases is storing data that is generated by high-throughput sources, it is important that the store engine is able to handle write-intensive workloads, all while offering acceptable read performance. RocksDB implements what is known in the database literature as a aka LSM tree. Technical design log-structured merge tree A Brief History of Distributed Databases The era of Web 2.0 brought with it a renewed interest in database design. While traditional RDBMS databases served well the data storage and data processing needs of the enterprise world from their commercial inception in the late 1970s until the dotcom era, the large amounts of data processed by the new applications—and the speed at which this data needs to be processed—required a new approach. For a great overview on the need for these new database designs, I highly recommend watching that database guru Michael Stonebraker delivered for Stanford’s Computer Systems Colloquium. this presentation The new databases that have emerged during this time have adopted names such as NoSQL and NewSQL, emphasizing that good old SQL databases fell short when it came to meeting the new demands. Despite their different design choices for particular protocols, these databases have adopted, for the most part, a shared-nothing, distributed computing architecture. While the processing power of every computing system is ultimately limited by physical constraints and, in cases such as distributed databases where parallel executions are involved, by the implications of , most of these systems offer the theoretical possibility of unlimited horizontal capacity scaling for both compute and storage. Amdahl's law Each node represents a unit of compute and storage that can be added to the system as needed. However, as Cockroach Labs CEO and co-founder Spencer Kimball explains in the case of CockroachDB, designing one of these new databases from scratch is a herculean task that requires highly knowledgeable and skillful engineers working in coordination and making very carefully thought decisions. here For databases such as CockroachDB, having a reliable, high-performance way to store and retrieve data from stable storage is essential. Designing a library that provides fast stable storage leveraging either filesystem or raw devices is a very difficult problem because of the elevated number of edge cases that are required to get right. Providing Fast Storage with RocksDB is a library that solves the problem of abstracting access to local stable storage. It allows software engineers to focus their energies on the design and implementation of other areas of their systems with the peace of mind of relying on RocksDB for access to stable storage, knowing that it currently runs some of the most demanding database workloads anywhere on the planet at and other equally challenging . RocksDB Facebook environments The advantages of RocksDB over other store engines are: . Because one of the most common use cases of the new databases is storing data that is generated by high-throughput sources, it is important that the store engine is able to handle write-intensive workloads, all while offering acceptable read performance. RocksDB implements what is known in the database literature as a aka LSM tree. Technical design log-structured merge tree Going into the details of LSM trees, and RocksDB’s implementation of the same, is out of the scope of this blog, but suffice it to say that it’s an indexing structure optimized to handle high-volume—sequential or random—write workloads. This is accomplished by treating every write as an append operation. A mechanism, that goes by the name of runs—transparently for the developer—in the background, removing data that is no longer relevant such as deleted keys or older versions of valid keys. compaction Source: http://www.benstopford.com/2015/02/14/log-structured-merge-trees/ Through the clever use of , RocksDB also offers great read performance making RocksDB the ideal candidate on which to base distributed databases. bloom filters The other popular choice to base storage engines on is b-trees. InnoDB, MySQL’s default storage engine, is an example of a store engine implementing a b-tree derivative, in particular, what is known as a b+tree. . The choice of a given technical design for performance reasons needs to be backed with empirical verification of the choice. During his time at Facebook, in the context of the project, a fork of MySQL that replaces InnoDB with RocksDB as MySQL’s storage engine, Mark Callaghan performed extensive and rigorous performance measurements to compare MySQL performance on InnoDB vs on RocksDB. Details can be found . Performance MyRocks here Not surprisingly, RocksDB regularly comes out as vastly superior in write-intensive benchmarks. Interestingly, while InnoDB was also regularly better than RocksDB in read-intensive benchmarks, this advantage, in relative terms, was not as big as the advantage RocksDB provides in the case of write-intensive tasks over InnoDB. Here is an example in the case of a I/O bound benchmark on : Intel NUC Source: https://smalldatum.blogspot.com/2017/11/insert-benchmark-io-bound-intel-nuc.html . RocksDb provides several tunable parameters to extract the best performance on different hardware configurations. While the technical design provides an architectural reason to favor one type of solution over another, achieving optimal performance on particular use cases usually requires the flexibility of tuning certain parameters for those use cases. Tunability RocksDB provides a long list of parameters that can be used for this purpose. Samsung’s Praveen Krishnamoorthy presented at the 2015 annual meetup an extensive on how RocksDB can be tuned to accommodate different workloads. study . In mission-critical solutions such as distributed databases, it is essential to have as much control and monitoring capabilities as possible over critical components of the system, such as the storage engine in the nodes. Manageability Facebook introduced several important to RocksDB, such as dynamic option changes and the availability of detailed statistics for all aspects of RocksDB internal operations including compaction, that are required by enterprise grade software products. improvements . The world of enterprise software, particularly when it comes to databases, is extremely risk averse. For totally understandable reasons—risk of monetary losses and reputational damage in case of data loss or data corruption—nobody wants to be a guinea pig in this space. Production references RocksDB was developed by Facebook with the original motivation of of its massive MySQL cluster hosting its user production database from InnoDB to RocksDB. The migration was completed by resulting in a 50% storage savings for Facebook. switching the storage engine 2018 Having Facebook lead the development and maintenance of RocksDB for its most critical use cases in their multibillion dollar business is a very important endorsement, particularly for developers of databases that lack Facebook’s resources to develop and maintain their own storage engines. . RocksDB offers a key-value API, available for C++, C and Java. These are the most widely used programming languages in the distributed database world. Language bindings When considering all these 6 areas holistically, RocksDB is a very appealing choice for a distributed database developer looking for a fast, production tested storage engine. Who Uses RocksDB? Over the years, the list of known uses of RocksDB has increased dramatically. Here is a non-exhaustive list of databases that embed RocksDB that underscores its suitability as a fast storage engine: Apache Cassandra CockroachDB MySQL (MyRocks) Rockset While all these database providers probably have similar reasons for picking RocksDB over other options, Instagram's replacement of Apache Cassandra’s own Java written LSM tree with RocksDB, which is now available to all other users of Apache Cassandra, is significant. Apache Cassandra is one of the most popular NoSQL databases. RocksDB has also found wide acceptance as an embedded database outside the distributed database world for equally important, mission-critical use cases: - In the Apache Kafka ecosystem, Kafka Streams is a client library that is commonly used to build applications and microservices that consume and produce messages stored in Kafka clusters. Kafka Streams supports fault-tolerant stateful applications. RocksDB is used by default to store state in such configurations. Kafka Streams - Apache Samza offers similar functionality as Kafka Streams and it also uses RocksDB to store state in fault-tolerant configurations. Apache Samza - After looking at several options, Netflix picked RocksDB to support their SSD caching needs in their global caching system, EVCache. Netflix - Cloudera Professional Services built a near-real-time transactional analytics system for Santander UK, backed by Apache Hadoop, that implements a streaming enrichment solution that stores its state on RocksDB. Santander Group is one of Spain's largest multinational banks. As of this writing, its revenues are close to 50 billion euros with assets under management approaching 1.5 trillion euros. Santander UK - Cherami is Uber’s own durable distributed messaging system equivalent to Amazon’s SQS. Cherami chose to use RocksDB as their storage engine in their storage hosts for its performance and indexing features. Uber RocksDB: Powering High-Performance Distributed Data Systems From its beginnings as a fork of LevelDB, a key-value embedded store developed by Google infrastructure experts Jeff Dean and Sanjay Ghemawat, through the efforts and hard work of the Facebook engineers that transformed it into an enterprise-class solution apt for running mission-critical workloads, RocksDB has been able to gain widespread acceptance as the storage engine of choice for engineers looking for a battle-tested embedded storage engine.

RocksDB Is Steadily Eating the Database World

is one of the most popular web servers on the internet. , it emerged roughly ten years ago to provide an alternative to the venerable Apache, designed to suit modern traffic demands better and more appropriately. NGINX Just a shade behind the market leader On a hot Friday afternoon I spoke with , the director of product management at NGINX to discuss the history of the project, the differences between the open and enterprise versions and answer questions posed by DZone readers. These questions included the status of HTTP/2, API access, and the choice of configuration file format. Liam Crilly Originally published at dzone.com , Opinions expressed by DZone contributors are their own. Join the DZone community and get the full member experience.

Steadily Serving the Web for 12 Years, Liam Crilly From NGINX

Compromised devices/machines are a new threat to organizations, especially small businesses. Challenges such as Fast-paced digital transformation, Cloud adoption, and the Internet of Things add fire to the already burning pyre of managing the massive volume of machine identities. But this is not all. While the security teams at larger enterprises are fighting demons like ransomware, malware, phishing, and other cybersecurity attacks, small businesses face the significant brunt of poorly managed machine identities. But… 🙋What are machine identities, and how are they different from human identities? 🙋Why is managing machine identities crucial for small businesses? 🙋What are the challenges faced by Small Businesses while managing machine identities? These are a few of the questions I will try to answer through my blog on Managing Machine Identities in SMBs. Sit tight, and keep reading. Machine Identity: The Meaning and The Definition Machine identity is the unique digital identity assigned to applications, services, and devices within a networked environment. These identities help machines to ✅ Connect and communicate with each other in a secure environment. ✅ Authenticate themselves to other systems in the network. Each machine identity comprises cryptographic keys, certificates, or the like of credentials that build trust and enable secure communications in digital space. There are two entities in a networked environment: humans and machines. While much investment is made to protect and manage human identities, scant efforts are made to protect and secure interconnected machines. Result: The imbalance is a significant concern. Reason: The number of machines has steadily increased, outpacing the growth of their human counterparts. This implies that there are more machines connected with each other with scant security efforts in place than humans connected to machines. To protect these machines from being compromised, they need identities that can keep their connections and communications safe. Importance of Machine Identity Management Machine Identity Management plays a crucial role in ensuring your business's security, integrity, and efficiency. With proper identities in place, you can authenticate and authorize machine-to-machine communication. When you are regularly managing the identities of your machines, you can prevent 📌 Unauthorized access 📌 Data breaches 📌 Other security threats, such as malware, ransomware attacks But that’s not all. With machine identity management, you can facilitate the smooth integration of various services and systems. Result: Optimized overall operational performance. But how is this relevant to your small business? Relevance for Small Businesses With limited resources, small businesses face unique challenges in maintaining robust security measures. Despite the size of your business, you still rely on interconnected networks, systems, and applications to conduct your everyday operations efficiently. So, how will managing machine identity help your small business? Managing your machine identities can help you in numerous ways; here are a few prominent ones. Machine Identity Management helps small businesses to 📍Secure their digital assets 📍Safeguard sensitive data 📍Mitigate risks associated with cyber threats With effective machine identity practices, small business owners can ✅ Improve their overall security posture ✅ Support the growth of their business ✅ Scale their small business But what exactly is machine identity? Understanding Machine Identity Unique cryptographic identifiers used to authenticate and secure communication between machines are called machine identities. These identities are allotted to machines in a networked environment, such as servers, devices, and applications. Managing machine identities is crucial for small business owners to protect against cyber threats and maintain their operational integrity in contemporary IT infrastructures. What Constitutes Machine Identity? Machine identity encompasses various components that establish the digital identity of devices, applications, and services within an IT ecosystem. These include 📍Digital Certificates 📍API Keys 📍SSH (Secure Shell) Keys 📍Device Identifiers Why Is Machine Identity Important For Your Small Business Machine identities are crucial for a secure business environment and serve important functions in the contemporary IT infrastructure. 📌 Authentication: Machine identities help business owners verify the identity of devices, applications, and services, ensuring only trusted entities can access resources and systems. 📌Encryption: Machine identities, especially SSL/TLS certificates, enable encryption of data transmitted over networks, safeguarding it from unauthorized interception and ensuring confidentiality. 📌 Access Control: They have a crucial role in access control by regulating permissions based on machines' identities and roles. This helps prevent unauthorized access and actions within IT environments. 📌Understanding and effectively managing machine identities is essential for maintaining IT operations' security, integrity, and efficiency, especially for small businesses with limited resources and specialized needs. Machine Identity Management Challenges for Small Businesses Unmanaged or improperly machine identities can pose serious challenges to small businesses. Some of the challenges your business can face while managing machine identities. Lack of Awareness and Resources Small businesses often face challenges due to limited awareness of available resources and best practices. This can encompass various aspects: 📍 Technology: Small businesses might not be aware of the latest technologies and tools that can help them streamline their operations and improve security. 📍 Financial: Limited budgets can restrict access to necessary resources such as advanced cybersecurity solutions or professional consulting services. 📍 Training and Education: Owners and employees might lack awareness of cybersecurity risks and protocols, leading to vulnerabilities like phishing attacks or weak password practices. Risks Associated with Unmanaged Machine Identities Machine identities refer to digital certificates and cryptographic keys used to authenticate machines in networks. The risks associated with unmanaged machine identities include: 📍Misconfigured or compromised machine identities can lead to unauthorized access to sensitive data or systems. 📍Improperly managed machine identities can result in compliance failures with industry regulations and standards. 📍Unmanaged machine identities can lead to operational disruptions and downtime. Compliance and Regulatory Concerns While compliance with regulations and standards is crucial for your small business, machine identity management can make it challenging due 📍Various regulatory requirements such as GDPR, HIPAA, and PCI DSS can be complex to understand and adhere to, especially for you as a small business owner. 📍Shortage of dedicated resources to meet compliance requirements is another challenge for small business owners. Hiring a dedicated resource can put a strain on your small business budgets. 📍Non-compliance can result in significant penalties or legal consequences. This is quite a detrimental situation for small businesses with limited financial resilience. Small businesses can address these challenges with strategic resource allocation and leveraging technology solutions tailored to their needs. Compromised devices/machines are a new threat to organizations, especially small businesses. Challenges such as Fast-paced digital transformation, Cloud adoption, and the Internet of Things add fire to the already burning pyre of managing the massive volume of machine identities. But this is not all. While the security teams at larger enterprises are fighting demons like ransomware, malware, phishing, and other cybersecurity attacks, small businesses face the significant brunt of poorly managed machine identities. But… 🙋What are machine identities, and how are they different from human identities? 🙋Why is managing machine identities crucial for small businesses? 🙋What are the challenges faced by Small Businesses while managing machine identities? These are a few of the questions I will try to answer through my blog on Managing Machine Identities in SMBs. Sit tight, and keep reading. Machine Identity: The Meaning and The Definition Machine identity is the unique digital identity assigned to applications, services, and devices within a networked environment. These identities help machines to ✅ Connect and communicate with each other in a secure environment. ✅ Authenticate themselves to other systems in the network. Each machine identity comprises cryptographic keys, certificates, or the like of credentials that build trust and enable secure communications in digital space. There are two entities in a networked environment: humans and machines. While much investment is made to protect and manage human identities, scant efforts are made to protect and secure interconnected machines. Result: The imbalance is a significant concern. Result: Reason: The number of machines has steadily increased, outpacing the growth of their human counterparts. Reason: This implies that there are more machines connected with each other with scant security efforts in place than humans connected to machines. To protect these machines from being compromised, they need identities that can keep their connections and communications safe. Importance of Machine Identity Management Machine Identity Management plays a crucial role in ensuring your business's security, integrity, and efficiency. With proper identities in place, you can authenticate and authorize machine-to-machine communication. When you are regularly managing the identities of your machines, you can prevent 📌 Unauthorized access 📌 Data breaches 📌 Other security threats, such as malware, ransomware attacks But that’s not all. With machine identity management, you can facilitate the smooth integration of various services and systems. Result: Optimized overall operational performance. But how is this relevant to your small business? Relevance for Small Businesses With limited resources, small businesses face unique challenges in maintaining robust security measures. Despite the size of your business, you still rely on interconnected networks, systems, and applications to conduct your everyday operations efficiently. So, how will managing machine identity help your small business? Managing your machine identities can help you in numerous ways; here are a few prominent ones. Machine Identity Management helps small businesses to 📍Secure their digital assets 📍Safeguard sensitive data 📍Mitigate risks associated with cyber threats With effective machine identity practices, small business owners can ✅ Improve their overall security posture ✅ Support the growth of their business ✅ Scale their small business But what exactly is machine identity? Understanding Machine Identity Unique cryptographic identifiers used to authenticate and secure communication between machines are called machine identities. These identities are allotted to machines in a networked environment, such as servers, devices, and applications. Managing machine identities is crucial for small business owners to protect against cyber threats and maintain their operational integrity in contemporary IT infrastructures. What Constitutes Machine Identity? Machine identity encompasses various components that establish the digital identity of devices, applications, and services within an IT ecosystem. These include 📍Digital Certificates 📍API Keys 📍SSH (Secure Shell) Keys 📍Device Identifiers Why Is Machine Identity Important For Your Small Business Machine identities are crucial for a secure business environment and serve important functions in the contemporary IT infrastructure. 📌 Authentication: Machine identities help business owners verify the identity of devices, applications, and services, ensuring only trusted entities can access resources and systems. 📌Encryption: Machine identities, especially SSL/TLS certificates, enable encryption of data transmitted over networks, safeguarding it from unauthorized interception and ensuring confidentiality. 📌 Access Control: They have a crucial role in access control by regulating permissions based on machines' identities and roles. This helps prevent unauthorized access and actions within IT environments. 📌Understanding and effectively managing machine identities is essential for maintaining IT operations' security, integrity, and efficiency, especially for small businesses with limited resources and specialized needs. Machine Identity Management Challenges for Small Businesses Unmanaged or improperly machine identities can pose serious challenges to small businesses. Some of the challenges your business can face while managing machine identities. Lack of Awareness and Resources Small businesses often face challenges due to limited awareness of available resources and best practices. This can encompass various aspects: 📍 Technology: Small businesses might not be aware of the latest technologies and tools that can help them streamline their operations and improve security. 📍 Financial: Limited budgets can restrict access to necessary resources such as advanced cybersecurity solutions or professional consulting services. 📍 Training and Education: Owners and employees might lack awareness of cybersecurity risks and protocols, leading to vulnerabilities like phishing attacks or weak password practices. Risks Associated with Unmanaged Machine Identities Machine identities refer to digital certificates and cryptographic keys used to authenticate machines in networks. The risks associated with unmanaged machine identities include: 📍Misconfigured or compromised machine identities can lead to unauthorized access to sensitive data or systems. 📍Improperly managed machine identities can result in compliance failures with industry regulations and standards. 📍Unmanaged machine identities can lead to operational disruptions and downtime. Compliance and Regulatory Concerns While compliance with regulations and standards is crucial for your small business, machine identity management can make it challenging due 📍Various regulatory requirements such as GDPR, HIPAA, and PCI DSS can be complex to understand and adhere to, especially for you as a small business owner. 📍Shortage of dedicated resources to meet compliance requirements is another challenge for small business owners. Hiring a dedicated resource can put a strain on your small business budgets. 📍Non-compliance can result in significant penalties or legal consequences. This is quite a detrimental situation for small businesses with limited financial resilience. Small businesses can address these challenges with strategic resource allocation and leveraging technology solutions tailored to their needs.

Machine Identities in Small Businesses: The Key to Security and Efficiency

In this exclusive interview, Andrey Nayman, co-founder of Magic Square, shares his journey in the blockchain industry and the inspirations behind creating a community-driven App Store. Ishan Pandey: Hi Andrey, great to have you here. To start off, could you share a bit about your background and what inspired you to co-found Magic Square? Andrey Nayman: I've been in the blockchain industry since 2013. My experiences leading various tech companies inspired me to start Magic Square. We're building a community-driven App Store that makes using decentralized apps simpler and safer. I’m passionate about using my blockchain knowledge to create something valuable and innovative for users worldwide. Ishan Pandey: Magic Square offers a unique ecosystem for discovering Web3 projects. Can you explain what sets Magic Store apart from other platforms in the space? Andrey Nayman: Magic Square is all about putting users first. Imagine it like a big online store, but instead of selling physical items, we present Web3 Apps. Magic Store is a way for users to discover all trusted Dapps and engage with them in one place. What makes us different is that we check every app really carefully before putting it in our store. This makes our platform safe and easy to use, whether you're new to Web3 or already an expert. Ishan Pandey: Given the diverse offerings within the Magic Square ecosystem like Magic Karma and Hot Offers, how do these features enhance the user experience and engagement? Andrey Nayman: Magic Karma and Hot Offers are innovative features designed to enhance the user experience on Magic Square. Magic Karma serves as our reputation system – users receive daily rewards for contributing to the Magic Ecosystem, such as trying out new apps or participating in community activities, earning them points. These points can then be exchanged for exciting rewards. On the other hand, Hot Offers form our engagement layer, where users can complete tasks provided by the listed projects and receive real payments for their efforts. Together, these features keep our users happy and engaged while using our platform. Ishan Pandey: The $SQR token plays a central role in the Magic Square community. Could you discuss how it integrates into the ecosystem and what its benefits are for users? Andrey Nayman: The $SQR token is like the heart of Magic Square. Users earn $SQR as a reward for doing things on our platform every day. You can stake $SQR to unlock special benefits if you're a member. You'll get paid in $SQR when you earn rewards through Hot Offers. We also use $SQR to reach the right people in our marketing efforts. To join Launchpad sales, you must stake even more $SQR. So, $SQR is important for everyone using Magic Square. It's what keeps everything running smoothly and helps our community grow. Ishan Pandey: Community-driven platforms depend heavily on user participation. How does Magic Square encourage community involvement in project voting and validation? Andrey Nayman: Community is at the core of every crypto project. At Magic Square, we believe in bringing the crypto community together in one place. Here, users can decide which projects make it onto our platform, shaping their future. Our community moderators actively gather feedback, which our product team uses to create a roadmap aligned with their needs. To make our community feel valued and engaged, we offer daily rewards through Karma Points and exciting opportunities through Hot Offers. We also host regular surveys where users can share their ideas and feedback, ensuring our platform evolves based on their input. Ishan Pandey: Affiliate programs are common in Web3, but Magic Boost offers a unique twist. Can you elaborate on how this program works and what its advantages are for both users and developers? Andrey Nayman: Affiliate programs are common in Web3, but Magic Boost offers a unique twist. Here's how it works: Users can easily monetize their communities by sharing affiliate offers from listed projects. With one click, they share these offers on social media. When their friends engage and convert, users receive instant payouts. This benefits the user by allowing them to earn effortlessly while supporting their favorite projects. For developers, Magic Boost expands their reach and boosts user acquisition, enhancing app visibility and credibility. Ishan Pandey: Looking forward, what are some key developments or milestones that the Magic Square community can anticipate in the near future? Andrey Nayman: In the near future, our Launchpad will be a big focus. It's designed to help projects grow steadily and connect with our community. We'll customize our approach, using both public and private sales, to give projects the best chance of success. With our active community, we'll make sure these projects get plenty of attention. Stay tuned for more updates as we work together to shape the future of Web3! Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. In this exclusive interview, Andrey Nayman, co-founder of Magic Square, shares his journey in the blockchain industry and the inspirations behind creating a community-driven App Store. Ishan Pandey: Hi Andrey, great to have you here. To start off, could you share a bit about your background and what inspired you to co-found Magic Square? Ishan Pandey: Hi Andrey, great to have you here. To start off, could you share a bit about your background and what inspired you to co-found Magic Square? Ishan Pandey: Hi Andrey, great to have you here. To start off, could you share a bit about your background and what inspired you to co-found Magic Square? Andrey Nayman: I've been in the blockchain industry since 2013. My experiences leading various tech companies inspired me to start Magic Square. We're building a community-driven App Store that makes using decentralized apps simpler and safer. I’m passionate about using my blockchain knowledge to create something valuable and innovative for users worldwide. Andrey Nayman: Ishan Pandey: Magic Square offers a unique ecosystem for discovering Web3 projects. Can you explain what sets Magic Store apart from other platforms in the space? Ishan Pandey: Magic Square offers a unique ecosystem for discovering Web3 projects. Can you explain what sets Magic Store apart from other platforms in the space? Ishan Pandey: Magic Square offers a unique ecosystem for discovering Web3 projects. Can you explain what sets Magic Store apart from other platforms in the space? Andrey Nayman: Magic Square is all about putting users first. Imagine it like a big online store, but instead of selling physical items, we present Web3 Apps. Magic Store is a way for users to discover all trusted Dapps and engage with them in one place. What makes us different is that we check every app really carefully before putting it in our store. This makes our platform safe and easy to use, whether you're new to Web3 or already an expert. Andrey Nayman: Ishan Pandey: Given the diverse offerings within the Magic Square ecosystem like Magic Karma and Hot Offers, how do these features enhance the user experience and engagement? Ishan Pandey: Given the diverse offerings within the Magic Square ecosystem like Magic Karma and Hot Offers, how do these features enhance the user experience and engagement? Ishan Pandey: Given the diverse offerings within the Magic Square ecosystem like Magic Karma and Hot Offers, how do these features enhance the user experience and engagement? Andrey Nayman: Magic Karma and Hot Offers are innovative features designed to enhance the user experience on Magic Square. Magic Karma serves as our reputation system – users receive daily rewards for contributing to the Magic Ecosystem, such as trying out new apps or participating in community activities, earning them points. These points can then be exchanged for exciting rewards. On the other hand, Hot Offers form our engagement layer, where users can complete tasks provided by the listed projects and receive real payments for their efforts. Together, these features keep our users happy and engaged while using our platform. Andrey Nayman: Ishan Pandey: The $SQR token plays a central role in the Magic Square community. Could you discuss how it integrates into the ecosystem and what its benefits are for users? Ishan Pandey: The $SQR token plays a central role in the Magic Square community. Could you discuss how it integrates into the ecosystem and what its benefits are for users? Ishan Pandey: The $SQR token plays a central role in the Magic Square community. Could you discuss how it integrates into the ecosystem and what its benefits are for users? Andrey Nayman: The $SQR token is like the heart of Magic Square. Users earn $SQR as a reward for doing things on our platform every day. You can stake $SQR to unlock special benefits if you're a member. You'll get paid in $SQR when you earn rewards through Hot Offers. We also use $SQR to reach the right people in our marketing efforts. Andrey Nayman: To join Launchpad sales, you must stake even more $SQR. So, $SQR is important for everyone using Magic Square. It's what keeps everything running smoothly and helps our community grow. Ishan Pandey: Community-driven platforms depend heavily on user participation. How does Magic Square encourage community involvement in project voting and validation? Ishan Pandey: Community-driven platforms depend heavily on user participation. How does Magic Square encourage community involvement in project voting and validation? Ishan Pandey: Community-driven platforms depend heavily on user participation. How does Magic Square encourage community involvement in project voting and validation? Andrey Nayman: Community is at the core of every crypto project. At Magic Square, we believe in bringing the crypto community together in one place. Here, users can decide which projects make it onto our platform, shaping their future. Our community moderators actively gather feedback, which our product team uses to create a roadmap aligned with their needs. To make our community feel valued and engaged, we offer daily rewards through Karma Points and exciting opportunities through Hot Offers. We also host regular surveys where users can share their ideas and feedback, ensuring our platform evolves based on their input. Andrey Nayman: Ishan Pandey: Affiliate programs are common in Web3, but Magic Boost offers a unique twist. Can you elaborate on how this program works and what its advantages are for both users and developers? Ishan Pandey: Affiliate programs are common in Web3, but Magic Boost offers a unique twist. Can you elaborate on how this program works and what its advantages are for both users and developers? Ishan Pandey: Affiliate programs are common in Web3, but Magic Boost offers a unique twist. Can you elaborate on how this program works and what its advantages are for both users and developers? Andrey Nayman: Affiliate programs are common in Web3, but Magic Boost offers a unique twist. Here's how it works: Users can easily monetize their communities by sharing affiliate offers from listed projects. With one click, they share these offers on social media. When their friends engage and convert, users receive instant payouts. This benefits the user by allowing them to earn effortlessly while supporting their favorite projects. For developers, Magic Boost expands their reach and boosts user acquisition, enhancing app visibility and credibility. Andrey Nayman: Ishan Pandey: Looking forward, what are some key developments or milestones that the Magic Square community can anticipate in the near future? Ishan Pandey: Looking forward, what are some key developments or milestones that the Magic Square community can anticipate in the near future? Ishan Pandey: Looking forward, what are some key developments or milestones that the Magic Square community can anticipate in the near future? Andrey Nayman: In the near future, our Launchpad will be a big focus. It's designed to help projects grow steadily and connect with our community. We'll customize our approach, using both public and private sales, to give projects the best chance of success. With our active community, we'll make sure these projects get plenty of attention. Stay tuned for more updates as we work together to shape the future of Web3! Andrey Nayman: Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: business blogging program business blogging program

Andrey Nayman Reveals the Vision Behind Magic Square's Unique Web3 Ecosystem

Welcome to HackerNoon’s Writing Prompts! Would you like to take a stab at answering some of these questions? The link for the template is HERE. 1. What is your company in 2–5 words? Digital product agency disrupting healthcare. 2. Why is now the time for your company to exist? There is no denying that the pace of innovation and technology has accelerated in the last decade. However, the healthcare industry has not evolved as quickly as other industries. It faces unique challenges, like a lack of agility, strict regulations, antiquated processes, and slow innovation. Although there are many people in the sector working to improve quality and accessibility, systemic problems and financial interests limit what can be achieved. Our strategy is to bring agility to this setting by using our knowledge of technology, user-centric approach, and in-depth knowledge of the business to create software that is strategically planned, scalable, and cleverly constructed. 3. What do you love about your team, and why are you the ones to solve this problem? When we first set out, we were quite excited about developing digital solutions that prioritized the needs and wants of users and delivered genuine value. By then, we collaborated with businesses in every sector of the economy, including real estate, retail, food, entertainment, agronomy, retail, and finance. Even though we've produced incredible products and gained a lot of knowledge from the process, we believed that focus and mission were still lacking. In 2020, during the pandemic, we made a strategic shift and decided to focus 100% on healthcare, allowing us to fully immerse ourselves in the industry, gain specialized knowledge, and, most importantly, have a shared, meaningful purpose. This change gave our entire team a compelling mission and a defined path. Who wouldn't find satisfaction in working on initiatives for a sector of the economy that ultimately saves lives? I guess that’s what I love most about the team and why we are the ones who solve problems. We’re a team of focused, knowledgeable, and creative people with a shared purpose: improving healthcare. 4. If you weren’t building your startup, what would you be doing? I would probably be building another startup. I’ve been an entrepreneur since I was a teenager, so I’m sure that if Light-it had not succeeded, I would be building something else. 5. At the moment, how do you measure success? What are your metrics? We work with OKRs (Objectives and Key Results), and they are measured quarterly. We have company-wide OKRs and OKRs per department. They help us stay aligned with the same goals quarter to quarter. 6. In a few sentences, what do you offer to whom? In broad terms, we partner with our clients to help them ideate, design, and develop healthcare digital products. The challenge we resolve is the lack of expertise in developing healthcare software with a product mindset and keeping strategy, budget, compliance, and user experience in mind.  There are hundreds of software development firms with no experience in healthcare, which can lead to short-term gains at the expense of long-term scalability and maintenance. We at Light-itadopt a unique strategy. We follow industry best practices, implementing scalable models across several platforms and providing end-to-end product development services with extensive user experience support and consulting. Since we have an agile approach, startups are our bread and butter. Nevertheless, our interactions with health systems have also been excellent. Our introduction of an agile vision and innovative mindset has been extremely effective in these circumstances, given their customary bureaucratic and slower ways. Finding a reliable partner is usually difficult for a healthcare organization, but finding someone who can offer both high-tech development and strategic advice is much more difficult. That's what makes us unique. 7. What’s most exciting about your traction to date? **Light-it'**s traction has been steadily growing year after year, an incredibly encouraging trend. Last year was particularly exciting for us as we forged partnerships with industry giants like ABInBev Foundation, the world's largest beer company, and Inviza, a groundbreaking RPM and DTX product for the US Air Force.  These collaborations are not only about business and transactions – they validate our position as leaders in our field and serve as a powerful encouragement to continue our hard work. 8. Where do you think your growth will be next year? We have been collaborating with startups, supporting them through the entire product development process, from launch to scaling. Now that we are collaborating with Health Systems, we plan to continue doing so because we have seen such a positive impact. We don't intend to expand the company too quickly because, as a team, we want to keep our boutique approach. We aim to keep our crew size between one hundred and two hundred. We always have new projects coming up. In my opinion, one of the biggest promises in health technology is generative AI. Puppeteeris a spinoff company we launched last year, and it is the result of the realization that 2024 was going to be the year of generative AI and that humanity will either have to accept it or perish. Our first round is presently being raised, and we have high hopes for it this year. Regarding our long-term future, Light-it's DNA will always embrace new technologies and pathways, so who knows what else might emerge! "You win, or you learn" strikes a chord with me. Every new endeavor, whether it succeeds or fails, adds to our development and resiliency. I'm committed to establishing a positive work environment that prioritizes curiosity, boldness, ownership, and dedication to ongoing development while also considering the well-being of our team. 9. Tell us about your first paying customer and revenue expectations over the next year. The first paying customers we had were family members and friends building e-commerces. Since then, we’ve worked with startups from pre-seed to Series D, with Fortune 500s and some of the biggest health systems in the world! In terms of revenue, we expect to keep growing at the rate of 50% per year. 10. What’s your biggest threat? We have all heard that AI will replace software engineers, so I guess that should be my biggest thread as a software development company owner. Still, I’m convinced that our team has minds that no AI can substitute: Empathy, strategy, and creativity are some of the skills needed in a product team that AI can't substitute. Would you like to take a stab at answering some of these questions? The link for the template is HERE. Welcome to HackerNoon’s Writing Prompts! Would you like to take a stab at answering some of these questions? The link for the template is HERE. Welcome to HackerNoon ’s Writing Prompts! Would you like to take a stab at answering some of these questions? The link for the template is HERE. HackerNoon The link for the template is HERE. 1. What is your company in 2–5 words? Digital product agency disrupting healthcare. 2. Why is now the time for your company to exist? There is no denying that the pace of innovation and technology has accelerated in the last decade. However, the healthcare industry has not evolved as quickly as other industries. It faces unique challenges, like a lack of agility, strict regulations, antiquated processes, and slow innovation. Although there are many people in the sector working to improve quality and accessibility, systemic problems and financial interests limit what can be achieved. Our strategy is to bring agility to this setting by using our knowledge of technology, user-centric approach, and in-depth knowledge of the business to create software that is strategically planned, scalable, and cleverly constructed. 3. What do you love about your team, and why are you the ones to solve this problem? When we first set out, we were quite excited about developing digital solutions that prioritized the needs and wants of users and delivered genuine value. By then, we collaborated with businesses in every sector of the economy, including real estate, retail, food, entertainment, agronomy, retail, and finance. Even though we've produced incredible products and gained a lot of knowledge from the process, we believed that focus and mission were still lacking. In 2020, during the pandemic, we made a strategic shift and decided to focus 100% on healthcare, allowing us to fully immerse ourselves in the industry, gain specialized knowledge, and, most importantly, have a shared, meaningful purpose. This change gave our entire team a compelling mission and a defined path. Who wouldn't find satisfaction in working on initiatives for a sector of the economy that ultimately saves lives? I guess that’s what I love most about the team and why we are the ones who solve problems. We’re a team of focused, knowledgeable, and creative people with a shared purpose: improving healthcare. 4. If you weren’t building your startup, what would you be doing? I would probably be building another startup. I’ve been an entrepreneur since I was a teenager, so I’m sure that if Light-it had not succeeded, I would be building something else. Light-it Light-it 5. At the moment, how do you measure success? What are your metrics? We work with OKRs (Objectives and Key Results), and they are measured quarterly. We have company-wide OKRs and OKRs per department. They help us stay aligned with the same goals quarter to quarter. 6. In a few sentences, what do you offer to whom? In broad terms, we partner with our clients to help them ideate, design, and develop healthcare digital products. The challenge we resolve is the lack of expertise in developing healthcare software with a product mindset and keeping strategy, budget, compliance, and user experience in mind.  There are hundreds of software development firms with no experience in healthcare, which can lead to short-term gains at the expense of long-term scalability and maintenance. We at Light-it adopt a unique strategy. We follow industry best practices, implementing scalable models across several platforms and providing end-to-end product development services with extensive user experience support and consulting. Light-it Since we have an agile approach, startups are our bread and butter. Nevertheless, our interactions with health systems have also been excellent. Our introduction of an agile vision and innovative mindset has been extremely effective in these circumstances, given their customary bureaucratic and slower ways. Finding a reliable partner is usually difficult for a healthcare organization, but finding someone who can offer both high-tech development and strategic advice is much more difficult. That's what makes us unique. 7. What’s most exciting about your traction to date? **Light-it'**s traction has been steadily growing year after year, an incredibly encouraging trend. Last year was particularly exciting for us as we forged partnerships with industry giants like ABInBev Foundation, the world's largest beer company, and Inviza, a groundbreaking RPM and DTX product for the US Air Force.  These collaborations are not only about business and transactions – they validate our position as leaders in our field and serve as a powerful encouragement to continue our hard work. 8. Where do you think your growth will be next year? We have been collaborating with startups, supporting them through the entire product development process, from launch to scaling. Now that we are collaborating with Health Systems, we plan to continue doing so because we have seen such a positive impact. We don't intend to expand the company too quickly because, as a team, we want to keep our boutique approach. We aim to keep our crew size between one hundred and two hundred. We always have new projects coming up. In my opinion, one of the biggest promises in health technology is generative AI. Puppeteer is a spinoff company we launched last year, and it is the result of the realization that 2024 was going to be the year of generative AI and that humanity will either have to accept it or perish. Our first round is presently being raised, and we have high hopes for it this year. Puppeteer Regarding our long-term future, Light-it's DNA will always embrace new technologies and pathways, so who knows what else might emerge! "You win, or you learn" strikes a chord with me. Every new endeavor, whether it succeeds or fails, adds to our development and resiliency. I'm committed to establishing a positive work environment that prioritizes curiosity, boldness, ownership, and dedication to ongoing development while also considering the well-being of our team. 9. Tell us about your first paying customer and revenue expectations over the next year. The first paying customers we had were family members and friends building e-commerces. Since then, we’ve worked with startups from pre-seed to Series D, with Fortune 500s and some of the biggest health systems in the world! In terms of revenue, we expect to keep growing at the rate of 50% per year. 10. What’s your biggest threat? We have all heard that AI will replace software engineers, so I guess that should be my biggest thread as a software development company owner. Still, I’m convinced that our team has minds that no AI can substitute: Empathy, strategy, and creativity are some of the skills needed in a product team that AI can't substitute. Would you like to take a stab at answering some of these questions? The link for the template is HERE. Would you like to take a stab at answering some of these questions? The link for the template is HERE. The link for the template is HERE.

Light-it: Empowering Healthcare through Purpose-Driven Digital Solutions

HSBC, the banking giant, is finally entering the ring with its new app, Zing (launched in January 2024 in UK). It aims to disrupt the international money transfer space currently dominated by fintech players like Revolut and Wise. But is this a genuine challenge, or just a latecomer trying to play catch-up? The answer lies in the margins. Fintech companies have been steadily eroding traditional banks' profits with their user-friendly apps and competitive fees. James Allan, CEO of Zing, acknowledges this shift:
"It's time for a new kind of solution, one that combines cutting-edge tech with the trust of a global bank like HSBC." Is It a Smart Move for Younger Audience? Analysts see Zing as a strategic move for HSBC. Benjamin Toms of RBC believes it's a “defensive play” to attract younger, tech-savvy customers who might become lifelong HSBC clients. Unlike existing HSBC FX services, Zing is free to download for everyone. But, lemme clear one thing! Zing operates under the FCA as an e-money institution, not a bank. This means your deposits won't be protected under the Financial Services Compensation Scheme, something to consider before diving in. Despite these uncertainties, Zing's arrival signifies a critical shift in the financial world. As established institutions adapt and innovate, consumers stand to benefit from a more competitive international payments ecosystem. HSBC, however, has global aspirations for Zing. Nuno Matos, CEO of their wealth and personal banking division, added:
‘‘We want to become a leading platform for international payments, which aligns perfectly with HSBC's overall payments strategy. Expect to see Zing launching soon in Asia, the Middle East, and EU markets." This focus on innovation and trust is key for Zing. This will attract customers who value fintech apps’ convenience while seeking the security. Feature Comparison - HSBC’s Zing vs. Revolut & Wise Feature

HSBC’s Zing

Revolut

Wise



Primary Function

Foreign exchange & international money transfer

Multi-currency spending & international money transfer

International money transfer



Number of Currencies Supported

10

Over 140

Over 40



Debit Card

Yes (physical & virtual)

Yes (physical & virtual)

Yes (physical & virtual)



Fees

Conversion charges and currency exchange

Free standard plan (limited features), paid plans with higher limits & features

Transaction fees based on amount & currency



Focus

Simplicity & ease of use for occasional international transactions

Multi-functionality for everyday spending & travel

Cost-effective international money transfers Recruiting Top Talent for the Challenge To compete effectively, HSBC is building a strong team. They've recruited key personnel from their fintech rivals, like Neil McKeown (ex-Monzo) and Dario De Angelis (ex-Revolut), to leverage valuable industry expertise. Additionally, Eduardo Mercer, a software engineer veteran from Wise, strengthens Zing's technical core. This increased competition injects a healthy dose of competition into the European cross-border payments scene. Ultimately, consumers benefit from more options, potentially lower fees, and a continued push for innovative solutions in the international money transfer market. James Allan, CEO of Zing, says,
"It's a win-win for everyone who wants a simpler, faster, and more reliable way to manage their money internationally." Can Zing Outshine its Competitors? HSBC's strategic investments, focus on user experience, and global ambitions suggest they're serious about the game. Only time will tell if they can woo customers away from the current fintech champions. The battle for dominance in international money transfers has just become even more interesting. Potential Pros & Cons! Aspect

Potential Pros

Potential Cons



Brand Recognition

Leverages HSBC's established brand and reputation for security

May not have the same brand awareness as Revolut or Wise



User Experience

Focuses on user-friendliness for a smooth money transfer experience

Needs to prove its app is as intuitive and user-friendly as competitors



Global Reach

Ambitious plans for global expansion, offering services in new markets

Initial launch is limited to UK customers only



Team Expertise

Recruited top talent from fintech rivals, bringing industry knowledge

Needs to demonstrate its team can deliver a competitive product Key Takeaways from this New and Improved Competition! This head-to-head competition is a game-changer in the cross-border payments market, especially in UK. Here is what will you get: HSBC offers established banking security, but Revolut and Wise are known for their cutting-edge tech. Zing aims to bridge this gap, offering both trust and a tech-savvy experience.
With more options, fees may drop, and features may become more user-friendly. This may include faster transfers, better exchange rates, and a smoother overall experience.
This competition between big banks and fintech companies will benefit you the most. It can include a wider range of services, lower costs, and a constant push for innovation. Stay updated for more updates about the fintech industry! For now, share your thoughts in the comments. HSBC, the banking giant, is finally entering the ring with its new app, Zing (launched in January 2024 in UK). It aims to disrupt the international money transfer space currently dominated by fintech players like Revolut and Wise. But is this a genuine challenge, or just a latecomer trying to play catch-up? HSBC, the banking giant, is finally entering the ring with its new app, Zing (launched in January 2024 in UK). Zing The answer lies in the margins. Fintech companies have been steadily eroding traditional banks' profits with their user-friendly apps and competitive fees. James Allan, CEO of Zing, acknowledges this shift: "It's time for a new kind of solution, one that combines cutting-edge tech with the trust of a global bank like HSBC." James Allan, CEO of Zing, acknowledges this shift: "It's time for a new kind of solution, one that combines cutting-edge tech with the trust of a global bank like HSBC." "It's time for a new kind of solution, one that combines cutting-edge tech with the trust of a global bank like HSBC." Is It a Smart Move for Younger Audience? Is It a Smart Move for Younger Audience? Analysts see Zing as a strategic move for HSBC. Benjamin Toms of RBC believes it's a “ defensive play” to attract younger, tech-savvy customers who might become lifelong HSBC clients. Unlike existing HSBC FX services, Zing is free to download for everyone . defensive play” Zing is free to download for everyone But, lemme clear one thing! But, lemme clear one thing! But, lemme clear one thing! Zing operates under the FCA as an e-money institution, not a bank. This means your deposits won't be protected under the Financial Services Compensation Scheme, something to consider before diving in. Despite these uncertainties, Zing's arrival signifies a critical shift in the financial world. As established institutions adapt and innovate, consumers stand to benefit from a more competitive international payments ecosystem. HSBC, however, has global aspirations for Zing. HSBC, however, has global aspirations for Zing. HSBC, however, has global aspirations for Zing. Nuno Matos, CEO of their wealth and personal banking division, added: ‘‘We want to become a leading platform for international payments, which aligns perfectly with HSBC's overall payments strategy. Expect to see Zing launching soon in Asia, the Middle East, and EU markets." Nuno Matos, CEO of their wealth and personal banking division, added: ‘‘We want to become a leading platform for international payments, which aligns perfectly with HSBC's overall payments strategy. Expect to see Zing launching soon in Asia, the Middle East, and EU markets." ‘‘We want to become a leading platform for international payments, which aligns perfectly with HSBC's overall payments strategy. Expect to see Zing launching soon in Asia, the Middle East, and EU markets." This focus on innovation and trust is key for Zing. This will attract customers who value fintech apps’ convenience while seeking the security. fintech apps’ convenience Feature Comparison - HSBC’s Zing vs. Revolut & Wise Feature Comparison - HSBC’s Zing vs. Revolut & Wise Feature

HSBC’s Zing

Revolut

Wise



Primary Function

Foreign exchange & international money transfer

Multi-currency spending & international money transfer

International money transfer



Number of Currencies Supported

10

Over 140

Over 40



Debit Card

Yes (physical & virtual)

Yes (physical & virtual)

Yes (physical & virtual)



Fees

Conversion charges and currency exchange

Free standard plan (limited features), paid plans with higher limits & features

Transaction fees based on amount & currency



Focus

Simplicity & ease of use for occasional international transactions

Multi-functionality for everyday spending & travel

Cost-effective international money transfers Feature

HSBC’s Zing

Revolut

Wise Primary Function

Foreign exchange & international money transfer

Multi-currency spending & international money transfer

International money transfer Number of Currencies Supported

10

Over 140

Over 40 Debit Card

Yes (physical & virtual)

Yes (physical & virtual)

Yes (physical & virtual) Fees

Conversion charges and currency exchange

Free standard plan (limited features), paid plans with higher limits & features

Transaction fees based on amount & currency Focus

Simplicity & ease of use for occasional international transactions

Multi-functionality for everyday spending & travel

Cost-effective international money transfers Feature HSBC’s Zing Revolut Wise Feature Feature HSBC’s Zing HSBC’s Zing Revolut Revolut Wise Wise Primary Function Foreign exchange & international money transfer Multi-currency spending & international money transfer International money transfer Primary Function Primary Function Primary Function Foreign exchange & international money transfer Foreign exchange & international money transfer Multi-currency spending & international money transfer Multi-currency spending & international money transfer International money transfer International money transfer Number of Currencies Supported 10 Over 140 Over 40 Number of Currencies Supported Number of Currencies Supported Number of Currencies Supported 10 10 Over 140 Over 140 Over 40 Over 40 Debit Card Yes (physical & virtual) Yes (physical & virtual) Yes (physical & virtual) Debit Card Debit Card Debit Card Yes (physical & virtual) Yes (physical & virtual) Yes (physical & virtual) Yes (physical & virtual) Yes (physical & virtual) Yes (physical & virtual) Fees Conversion charges and currency exchange Free standard plan (limited features), paid plans with higher limits & features Transaction fees based on amount & currency Fees Fees Fees Conversion charges and currency exchange Conversion charges and currency exchange Free standard plan (limited features), paid plans with higher limits & features Free standard plan (limited features), paid plans with higher limits & features Transaction fees based on amount & currency Transaction fees based on amount & currency Focus Simplicity & ease of use for occasional international transactions Multi-functionality for everyday spending & travel Cost-effective international money transfers Focus Focus Focus Simplicity & ease of use for occasional international transactions Simplicity & ease of use for occasional international transactions Multi-functionality for everyday spending & travel Multi-functionality for everyday spending & travel Cost-effective international money transfers Cost-effective international money transfers Recruiting Top Talent for the Challenge To compete effectively, HSBC is building a strong team. They've recruited key personnel from their fintech rivals, like Neil McKeown (ex-Monzo ) and Dario De Angelis (ex-Revolut) , to leverage valuable industry expertise. Additionally, Eduardo Mercer , a software engineer veteran from Wise , strengthens Zing's technical core. Neil McKeown (ex-Monzo Dario De Angelis (ex-Revolut) Eduardo Mercer a software engineer veteran from Wise This increased competition injects a healthy dose of competition into the European cross-border payments scene. Ultimately, consumers benefit from more options, potentially lower fees, and a continued push for innovative solutions in the international money transfer market. cross-border payments James Allan, CEO of Zing, says, "It's a win-win for everyone who wants a simpler, faster, and more reliable way to manage their money internationally." James Allan, CEO of Zing, says, "It's a win-win for everyone who wants a simpler, faster, and more reliable way to manage their money internationally." "It's a win-win for everyone who wants a simpler, faster, and more reliable way to manage their money internationally." Can Zing Outshine its Competitors? Can Zing Outshine its Competitors? HSBC's strategic investments, focus on user experience, and global ambitions suggest they're serious about the game. Only time will tell if they can woo customers away from the current fintech champions. The battle for dominance in international money transfers has just become even more interesting. Potential Pros & Cons! Aspect

Potential Pros

Potential Cons



Brand Recognition

Leverages HSBC's established brand and reputation for security

May not have the same brand awareness as Revolut or Wise



User Experience

Focuses on user-friendliness for a smooth money transfer experience

Needs to prove its app is as intuitive and user-friendly as competitors



Global Reach

Ambitious plans for global expansion, offering services in new markets

Initial launch is limited to UK customers only



Team Expertise

Recruited top talent from fintech rivals, bringing industry knowledge

Needs to demonstrate its team can deliver a competitive product Aspect

Potential Pros

Potential Cons Brand Recognition

Leverages HSBC's established brand and reputation for security

May not have the same brand awareness as Revolut or Wise User Experience

Focuses on user-friendliness for a smooth money transfer experience

Needs to prove its app is as intuitive and user-friendly as competitors Global Reach

Ambitious plans for global expansion, offering services in new markets

Initial launch is limited to UK customers only Team Expertise

Recruited top talent from fintech rivals, bringing industry knowledge

Needs to demonstrate its team can deliver a competitive product Aspect Potential Pros Potential Cons Aspect Aspect Aspect Potential Pros Potential Pros Potential Pros Potential Cons Potential Cons Potential Cons Brand Recognition Leverages HSBC's established brand and reputation for security May not have the same brand awareness as Revolut or Wise Brand Recognition Brand Recognition Brand Recognition Leverages HSBC's established brand and reputation for security Leverages HSBC's established brand and reputation for security May not have the same brand awareness as Revolut or Wise May not have the same brand awareness as Revolut or Wise User Experience Focuses on user-friendliness for a smooth money transfer experience Needs to prove its app is as intuitive and user-friendly as competitors User Experience User Experience User Experience Focuses on user-friendliness for a smooth money transfer experience Focuses on user-friendliness for a smooth money transfer experience Needs to prove its app is as intuitive and user-friendly as competitors Needs to prove its app is as intuitive and user-friendly as competitors Global Reach Ambitious plans for global expansion, offering services in new markets Initial launch is limited to UK customers only Global Reach Global Reach Global Reach Ambitious plans for global expansion, offering services in new markets Ambitious plans for global expansion, offering services in new markets Initial launch is limited to UK customers only Initial launch is limited to UK customers only Team Expertise Recruited top talent from fintech rivals, bringing industry knowledge Needs to demonstrate its team can deliver a competitive product Team Expertise Team Expertise Team Expertise Recruited top talent from fintech rivals, bringing industry knowledge Recruited top talent from fintech rivals, bringing industry knowledge Needs to demonstrate its team can deliver a competitive product Needs to demonstrate its team can deliver a competitive product Key Takeaways from this New and Improved Competition! This head-to-head competition is a game-changer in the cross-border payments market, especially in UK. Here is what will you get: HSBC offers established banking security, but Revolut and Wise are known for their cutting-edge tech. Zing aims to bridge this gap, offering both trust and a tech-savvy experience. With more options, fees may drop, and features may become more user-friendly. This may include faster transfers, better exchange rates, and a smoother overall experience. This competition between big banks and fintech companies will benefit you the most. It can include a wider range of services, lower costs, and a constant push for innovation. HSBC offers established banking security, but Revolut and Wise are known for their cutting-edge tech. Zing aims to bridge this gap, offering both trust and a tech-savvy experience. With more options, fees may drop, and features may become more user-friendly. This may include faster transfers, better exchange rates, and a smoother overall experience. This competition between big banks and fintech companies will benefit you the most. It can include a wider range of services, lower costs, and a constant push for innovation. Stay updated for more updates about the fintech industry! For now, share your thoughts in the comments. Stay updated for more updates about the fintech industry! For now, share your thoughts in the comments.

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