Comprehensive Technical Assessment – Hopabot

By Bob the Builder / Blockchain, Blockchain, Client Portfolio, Emerging Technology, Industry, Market Research / November 7, 2023

Hopabot is a chatbot deployment platform that lets developers build all sorts of automated scenarios and chatbots using blockchain tech. One really useful feature is how it lets you create “entities” that bots can be based on. This helps make sure the bots stay consistent and personalized.

Ruskin Felix Consulting LLC helped Hopabot on strategic and technical expertise as we formulated a fully operational technical documents which featured which emphasized and articulated the functionalities of the platform and the logic behind its operations.

Hopabot also gives you tons of tools to make bot building easier – like a simple drag and drop interface. There’s a powerful natural language processor to help bots understand chat. And you can integrate other apps for extra functionality, like payments or customer support. All in all, it aims to help users create engaging bots however they want.

Once you build a bot, Hopabot lets you sell or rent it out on their marketplace too. It works for both businesses and individuals. Companies can use it to build their own bots or hire someone else’s. Individual developers can make bots to sell.

And the marketplace gives everyone access to a whole range of automated solutions. Basically, it’s a great all-in-one platform no matter your skill level or needs!

Here are a few other aspects of Hopabot’s network layer architecture that help enhance security:

Encrypted node communication: Data transmitted between nodes is encrypted in transit to prevent snooping or tampering. This protects the integrity of transactions and network data.
Firewalls and intrusion detection: Tools like network firewalls monitor traffic and detect anomalous patterns that could indicate malicious activity. This provides visibility into potential security risks.
Automated patching: Nodes are configured to regularly install the latest software updates from maintainers. This helps defend against newly discovered vulnerabilities before they can be exploited.
Access control lists: Fine-grained ACLs restrict which nodes can initiate connections or perform administrative actions. This limits the impact if a node is compromised.
Distributed monitoring: No single point of failure exists for monitoring the network, as nodes all share responsibility. This enhances availability of security tools.

Sustainable Finance: An Emerging Imperative

Leave a Comment / By Bob the Builder / Blockchain, Emerging Technology, Energy, Financial Services, Fintech, Industry, Insights / November 3, 2023

As climate change and social inequities intensify worldwide, there is a growing recognition that the global economy needs to transition towards greater environmental and social sustainability. While public funds alone are insufficient, sustainable finance (SF) offers a means to mobilize vast private capital towards financing this transition. By systematically integrating environmental, social and governance (ESG) factors into investment decisions, sustainable finance aims to align economic activity with long-term sustainability imperatives.

Our aim is to showcase the growing role of SF in catalyzing the shift towards a greener, more equitable and inclusive economic model. It explores the key drivers and opportunities presented by this emerging paradigm. The report also outlines policy and regulatory developments supporting its mainstreaming. Overall, the adoption of sustainable finance approaches presents strategic opportunities for businesses and investors seeking to future-proof operations amidst rising sustainability challenges.

Historically, normal business activity has concentrated on for-profit enterprises striving to maximise profit at the expense of society and the environment. For instance- just 9% of all plastics produced are actually reused or recycled.

It’s true that everyone on Earth depends on the production, distribution and exchange of goods and services, as well as the enforcement of contracts, to survive and prosper. Increased ESG reporting rules will be implemented by the SEC in the near future.

What is Sustainable Finance?

SF refers to the process of taking environmental, social and governance (ESG) criteria into consideration in investment decisions and practices. It involves channeling capital towards businesses and projects that have positive sustainability outcomes.

The core principle of SF is to link financial returns with positive impacts. It seeks to identify and manage material ESG risks and opportunities in order to enhance long-term investment returns and outcomes for both investors and society. Sustainable finance promotes transparency around ESG performance and impacts.

There are 575 investors controlling $54 trillion who are part of the Climate Action 100 project. The 167 corporations in these investors’ portfolios are responsible for 80 percent of industrial climate emissions worldwide.

Rationale for Sustainable Finance

The business case for sustainable finance is strengthened by several factors:

Risk Management: ESG issues like climate change pose risks to operations, supply chains and markets that traditional approaches fail to capture. Sustainable finance helps identify and address these emerging risks to safeguard long-term returns.

New Markets: The transition to renewable energy, green infrastructure, sustainable products and supply chain solutions is creating sizable new markets. Sustainable finance allows tapping the growth potential of these future-oriented sectors.

Competitive Advantage: Adopting sustainable practices helps attract investment, talent and gain an edge over peers, especially as policy and stakeholder expectations evolve rapidly on ESG performance.

Policy Support: With the EU, UK and others introducing regulations on ESG disclosures, taxonomy and green asset labeling, sustainable finance is gaining mainstream traction backed by policy tailwinds.

Future Proofing: By focusing on long-term ESG factors rather than short-term gains, sustainable investments are better equipped to generate durable returns in a resource-constrained world facing climate change and social instability.

Mobilizing Capital at Scale

While public funds are limited, sustainable finance can mobilize the vast pools of private global capital towards financing sustainability. For example, the EU aims to mobilize €1 trillion in sustainable investments through its Sustainable Finance Action Plan using various policy tools:

Taxonomy: The EU Sustainable Finance Taxonomy provides a classification system delineating environmentally sustainable economic activities. This provides clarity for investors regarding ‘green’ investments.

Disclosures: The Sustainable Finance Disclosure Regulation (SFDR) mandates transparency around sustainability risks, impacts and products to empower investors with comparable ESG data.

Benchmarks: The EU Climate Transition and EU Paris-aligned Benchmarks allow channeling investments towards climate-friendly solutions through standardized low-carbon indices.

Green Bonds: With a dedicated Green Bond Standard, the EU is promoting the issuance of use-of-proceeds bonds for financing eligible green projects and assets.

These measures help overcome information gaps and mis-selling risks, directing capital at scale towards transition-enabling solutions like renewable energy and green infrastructure. Multilateral development banks are also increasingly prioritizing sustainable investments.

Why is Sustainable Finance Important?

There are several compelling reasons why the adoption of sustainable finance is gaining importance:

Mitigating financial risks: ESG issues like climate change, resource depletion, and social inequities pose growing risks to businesses and investments. A sustainable finance approach helps identify and mitigate such risks, protecting long-term returns.
Tapping new opportunities: The global shift towards a low-carbon, inclusive economy is creating new business opportunities in areas like renewable energy, green technology, and sustainable supply chains. Sustainable finance allows capturing these opportunities.
Meeting stakeholder expectations: Investors, customers, and employees increasingly expect companies to address ESG issues and transparently report on sustainability performance. Adopting sustainable finance practices helps meet these rising stakeholder expectations.
Future-proofing investments: Sustainable finance orientations investments towards long-term sustainability outcomes, ensuring their continued viability and returns in a resource-constrained world increasingly impacted by climate change and other environmental and social challenges.
Regulatory tailwinds: With policymakers mainstreaming sustainability through regulations on ESG reporting, disclosures, and taxonomy, sustainable finance is gaining policy support worldwide. Early adopters gain competitive advantages.

Mainstreaming Sustainable Finance

Recognizing its importance, policymakers and regulators are taking steps to mainstream sustainable finance through new rules and guidelines:

The European Union has introduced several regulations like the Sustainable Finance Disclosure Regulation (SFDR) and EU Taxonomy to reorient capital towards sustainable activities.
Stock exchanges are launching ESG segments like Euronext’s segment for sustainable securities.
The UK, Canada, Japan and other countries are also bringing in disclosure guidelines and sustainability-linked regulations.
Multilateral development banks are increasingly prioritizing green and sustainable investments.
Financial institutions are establishing dedicated sustainable banking windows and green investment funds.
Stock exchanges like Euronext are launching dedicated sustainability segments to promote sustainable investments.
Central banks are exploring ways to incorporate sustainability into monetary policy operations and financial stability mandates.

Halving and the Future Prospects of Blockchain

By Bob the Builder / Blockchain, Emerging Technology, Financial Services, Industry, Insights / November 1, 2023

Halving is a term that refers to a periodic event that reduces the supply of new coins or tokens generated by a blockchain network. The blockchain records and verifies every transaction that occurs on the network, ensuring security and transparency. However, maintaining the blockchain requires a lot of computational power and energy, which is provided by the participants who run special software called mining. Miners compete to solve complex mathematical problems and earn rewards in the form of new crypto coins for each block they add to the blockchain. Halving affects the economics and security of blockchain networks, as well as their price and adoption.

We will use Bitcoin as a reference, as it is the most well-known and widely used cryptocurrency. However, halving is not exclusive to Bitcoin, and other blockchain projects may have similar or different mechanisms to regulate their supply and reward their participants.

What is halving?

Halving is an event that occurs every 210,000 blocks, or roughly every four years, on the Bitcoin network. It reduces the reward for mining new blocks by 50%, making it harder and less profitable for miners to create new bitcoins. The halving process ensures that the total number of bitcoins that will ever exist is limited to 21 million, as designed by the anonymous creator of Bitcoin, Satoshi Nakamoto. The last halving occurred on May 11, 2020, reducing the block reward from 12.5 to 6.25 bitcoins. The next halving is expected to happen in April or May 2024, when the block reward will drop to 3.125 bitcoins

Purpose

The main purpose of halving is to control the inflation rate of Bitcoin and preserve its value over time. By decreasing the supply of new bitcoins entering the market, halving creates a deflationary pressure that increases the demand and price of Bitcoin. Halving also ensures that Bitcoin remains a scarce and finite resource, unlike fiat currencies that can be printed endlessly by central authorities. Halving also incentivizes miners to secure the network and process transactions, as they rely on transaction fees as well as block rewards for their income.

Necessity

Halving is necessary for Bitcoin to function as a sound and sustainable form of money that can compete with traditional currencies and payment systems. Halving also ensures that Bitcoin remains decentralized and resistant to manipulation, as no one can alter or inflate the supply of bitcoins without consensus from the network.

Effects

The results of halving are often unpredictable and depend on various factors such as market sentiment, mining difficulty, hash rate, and network activity. However, some general trends can be observed from the past halvings. For instance, halving tends to have a positive impact on the price of Bitcoin in the long term, as it creates a supply shock that drives up the demand and value of Bitcoin. Each halving has triggered a new bull market cycle for Bitcoin that lasted for several months or years after the event. However, halving can also have some negative effects on the network security and efficiency in the short term, as it reduces the profitability and incentives for miners to participate in the network. This can lead to a drop in the hash rate and mining difficulty, which can make the network more vulnerable to attacks or congestion.

The Global Blockchain Market

The global blockchain technology market size was valued at $11.14 billion in 2022 & is projected to grow from $5.85 billion in 2021 to $469.49 billion by 2030, exhibiting a CAGR of 82.8% during the forecast period.

Blockchain Market Ecosystem

The Blockchain technology ecosystem encompasses of three core categories of providers that enable its continued advancement. They are –

Application Providers:

These are the visionaries and developers who create blockchain-based applications. They design and build solutions tailored for specific use cases, such as decentralized finance (DeFi), supply chain management, or identity verification.

Application providers leverage the underlying blockchain infrastructure to deliver real-world solutions, often using smart contracts to automate processes.

Infrastructure Providers:

Infrastructure providers are responsible for maintaining the technical backbone of the blockchain network. They include: Developers, Nodes and Miners/Validators

Infrastructure providers ensure the network’s security, scalability, and reliability.

Middleware Providers:

Middleware bridges the gap between applications and infrastructure. It includes tools, APIs, and protocols that enhance interoperability and communication within the ecosystem.

Middleware providers offer services like data integration, identity management, and communication protocols to facilitate seamless interactions between applications and infrastructure.

The infrastructure and protocol segment is leading the market, dominating for over half of global revenue. There is growing demand for blockchain standards like Hyperledger, open chain, and Ethereum, fueling growth in this space. These protocols allow for secure sharing of information across crypto networks, meeting user needs. As a result, the benefits of infrastructure and protocols contribute significantly to segment expansion.

The middleware segment is projected to experience rapid expansion in the coming years. Middleware assists developers in building applications more efficiently. Rising investment in healthcare is anticipated to spur middleware growth. Middleware tools also track performance metrics during testing, another driver of segment gains.

Blockchain market by Application

The above diagram highlights the areas where blockchain is often used as of the latest trend. Thanks to blockchain’s ability to be used in almost any field, the trend will continue for years to come. By 2023, supply chain management and cross-border payments had emerged as blockchain’s leading application sectors. Major logistics operators such as FedEx and UPS invested strategically to evaluate integration. Using blockchain technology, companies have the ability to monitor products throughout the supply chain process. They can identify potential issues that may occur during transit, such as signs that products have been tampered with, exposure to extreme environmental conditions, or improper handling.

Future prospects in Blockchain

Over the past decade, blockchain has evolved from an intriguing concept to a technology poised to revolutionize numerous industries globally. Areas like cryptocurrency payment systems and decentralized finance have realized significant growth by leveraging blockchain’s ability to facilitate secure value exchange without centralized intermediaries. As more traditional financial institutions explore integrating blockchain into their operations, it may help drive further mainstream adoption of cryptocurrencies.

Internationally, blockchain holds promise for transforming trade by streamlining cross-border transactions and tracking the provenance of goods through transparent, shared ledgers. Several pilot projects demonstrate its power to simplify complex supply chains and reduce inefficiencies. Widespread use of blockchain in areas like trade, finance, and value chains will depend on coherent global standards and regulations that address issues like taxation and provide legal framework for new business models to thrive.

While technical and regulatory hurdles remain, the growing number of innovative blockchain applications indicates its technology is maturing. In the coming years, as protocols advance and governance models evolve with stakeholder input, blockchain may emerge as the foundation for a more decentralized, transparent global economy. Its impact will likely expand exponentially if barriers to adoption are reduced through collaborative regulation by nations. There is still work to be done, but the future looks bright for realizing blockchain’s transformational potential.

Blockchain Revolutionizing the Gaming Domain

By Bob the Builder / Blockchain, Consumer Retail, Emerging Technology, Industry, Insights, Media & Entertainment / October 23, 2023

Blockchain gaming is a new paradigm of gaming that employ blockchain technology to create decentralized, transparent and secure gaming ecosystems. Blockchain gaming enables players to own, trade and monetize their in-game assets, such as characters, items and land, in the form of non-fungible tokens (NFTs). Blockchain gaming also offers new ways for players to earn rewards and incentives by participating in various in-game activities, such as quests, battles, tournaments and governance. This is known as the play-to-earn (P2E) model, which has attracted millions of players worldwide.

The global blockchain in gaming market size was estimated at around USD 4.86 billion in 2022 and it is projected to hit around USD 887.14 billion by 2032, growing at a CAGR of 68.32% from 2023 to 2032.

Market Clarifications

The market can be broken down on the basis of game type, which consist of –

The RPG segment dominated the market in 2022 and accounted for a revenue share of more than 36.0%. The segment’s growth can be attributed to the highly immersive and engaging gameplay experience they offer. RPG provides long-term gameplay elements that encourage players to invest time and resources into the game.

The collectible games segment is expected to witness significant growth over the forecast period. Collectible games involve unique digital assets, such as NFTs, which are stored on a blockchain and can be traded or sold securely and transparently. This creates a strong value proposition for players interested in owning and collecting rare or unique digital assets.

Key Players

The competitive landscape of the global blockchain gaming market is marked by a dynamic interplay of various industry elements. Companies are vying to establish themselves as pioneers in blockchain integration within the gaming sphere. Below is a list of the key game developers in the blockchain gaming market-

One of the exciting features of blockchain gaming is that players can earn tokens or coins from playing games and utilise them to trade with other players or platforms. These tokens or coins can represent various in-game assets, such as characters, items, land or currency. They can also be used to access different games or services within the blockchain gaming ecosystem. There are different methods that players can use to trade their tokens or coins, such as:

As games increasingly utilize cryptocurrencies and NFTs, an entire ecosystem is developing around blockchain gaming. This includes decentralized exchanges for trading in-game items, marketplaces to display and sell digital collectibles, and infrastructure platforms supporting game development. This section will explore the various participants within the growing blockchain gaming landscape and discuss some recent developments in the industry.

Recent developments in blockchain gaming include notable funding rounds, high-profile acquisitions, and the continued new launches. To elaborate further

Legacy, the ambitious venture spearheaded by industry luminary Peter Molyneux and his storied development house 22cans, is slated for its grand unveiling on October 26th. Positioned as an entrepreneurial simulation, Legacy aims to empower players to establish and grow their own enterprise from scratch, nurturing it into a global powerhouse through ingenuity, business acumen and competitive spirit.
Kandle, an innovative Singapore-based crypto fantasy project seeking to reshape the GameFi landscape, recently secured $1.7 million in seed funding led by Saama to propel its ambitious vision forward.
Project SEED, an innovative Distributed Ledger undertaking poised to transform the mobile gaming industry, is launching its groundbreaking mobile application ‘Outland Odyssey’, complemented by ‘SEED: GROW’ and ‘SEED: Staking’.
Wemade has entered a strategic partnership with Katnappe sp. z o.o. with the objective of integrating Katnappe’s blockchain venture Hoomeez into WEMIX PLAY, Wemade’s globally recognized blockchain gaming platform, to mutually expand their reach and capabilities.

The blockchain gaming industry is expected to be one of the blooming and most lucrative sectors in the coming years. It shows immense potential for growth given the engaging experience it provides players through decentralized control and true ownership of virtual assets. The ability to seamlessly transfer these assets across interconnected blockchain games is also poised to enhance player engagement like never before. If current market trends continue, the blockchain gaming space will become a dominant force in the global games industry, representing the increasing convergence of gaming and blockchain technologies. The opportunities for developers, players and investors appear limitless within this burgeoning industry.

Artificial Intelligence Platforms’ Regulation

By Bob the Builder / Blockchain, Emerging Technology, Industry, Insights / October 18, 2023

Regulatory Frameworks for Artificial Intelligence Risk Mitigation

Public concern about emerging technologies and their implied risk has been the key focus for years due to the unsupervised use of personal data. With the recent upsurge of Generative Artificial Intelligence (GenAI) including Large Language Models (LLM) and organizations embedding artificial intelligence in various products and processes, the attention of the masses and regulators has been shifting towards the potential for biased decisions by algorithms.

The recent headlines have been marked by AI systems producing biased results. One well-known example is Apple’s credit card algorithm, which has been accused of discriminating against women, triggering an investigation by New York’s Department of Financial Services.

Having said that regulators, legislators, and standard setters are now starting to develop frameworks to mitigate the risk while maximizing the optimal use of AI for human mankind.

Building a Collaborative Approach

Recognizing that each jurisdiction has taken a different regulatory approach, the fundamentals on which detailed regulations on AI can be built are discussed below:

Risk-Centric Approach: Regulations should be tailored to AI’s perceived risks, proportionally matching them to compliance obligations with factors like privacy, non-discrimination, transparency, and security.

Guiding Principles: AI regulations should be aligned with the Organization of Economic Cooperation and Development (OECD) endorsed principles, emphasizing human rights, sustainability, transparency, and risk management.

Versatility in Regulation: Jurisdictions recognize the need for both broad, sector-independent AI rules and specialized regulations catering to specific industries.

Harmonized Policy: Development of AI-related rules alongside digital policy. Priority topics like cybersecurity, data privacy, and intellectual property protection should be addressed with the EU leading in comprehensive policymaking.

Private Sector Collaborations: Ensuring the regulatory tools facilitate private sector collaboration with policymakers addressing the ethical use of AI, and high-risk AI innovations that require closer oversight.

Corporate Strategies for Navigating the Evolving AI Regulatory Landscape

With regulators and standard setters, private organizations also play a crucial role in streamlining the rules and regulations for AI platforms. Based on the industry trends we have discussed a few common practices that can be implemented by companies to stay relevant in the rapidly evolving AI regulatory landscape:

Understanding AI Regulations: Organizations would need to align the regulations issued by regulatory authorities with their internal AI policies, the market in which they operate, and other associated supervisory standards.

Strengthening Governance and Risk Management: Establishing clear and robust governance and risk management structures with regulatory alliances can bridge a gap between companies and standard setters. Additionally, actively engaging in conversations with public sector officials and other stakeholders can be helpful for both companies as well as policymakers.

As the growing reliance on AI significantly increases the strategic risks businesses face, companies need to take an active role in writing a rulebook for algorithms. Unless all companies including those not directly involved in AI development engage early with these challenges, the businesses would therein face backlashes resulting in a dip in their business profits undermining the true potential AI could render to the consumers and society.

Gateway to Metaverse Gaming

By Bob the Builder / Blockchain, Emerging Technology, Energy, Financial Services, Fintech, Industry, Insights, Media & Entertainment / October 18, 2023

Metaverse – An Emerging Universe

Metaverse, a concept named by now “Meta” previously known as Facebook. The term metaverse refers to the concept of three-dimensional virtual spaces put together to form a universe in itself. It involves a combination of multiple platforms that allow users to socialize, game, meet and work in a three-dimensional space.

Metaverse, powered by Augmented Reality (AR) is gaining traction in various domains. The video gaming industry is said to be in its clooney years as it experiences major transformational shift due to the emergence of metaverse. Amid the rapid growth in the gaming industry post COVID-19 outbreak its basic drivers are still the fundamentals of the industry- faster processors, improving graphics and enhancement of overall gaming experience worldwide.

In addition, the advancement in global communication networks will accelerate the uptake of cloud-based games creating entirely new ways for users to interact and socialize while driving revenue for the gaming companies.

According to a survey by Amsterdam-based industry tracker Newzoo, the worldwide games market is projected to earn about $188 billion in sales in 2023, up 2.6 percent from this year.

The Metaverse Gaming Impact, Explained!

With the concept of a fictional universe becoming reality there is a significant upsurge with the number of early adopting gaming companies experimenting with a metaverse presence. For instance- the widely played Minecraft and Fortnite games, as well as the popular Roblox game platform, have incorporated many aspects of the metaverse, including virtual worlds where players meet to play games and use social features such as in-game chats.

As the gaming industry matures, the metaverse will continue to incorporate various technologies, such as VR, AR, and 3D functionality. Tim Stuart, CFO of Microsoft’s Xbox Unit stated, “Within the gaming space, competition for engagement makes our business grow. It creates innovation and new ideas. This market is growing because there are new entrants, there are new game players, and there is a flow of new content unlike anything we’ve seen in the past.”

It is observed that an estimated 2.9 billion people – more than one out of every three people on the planet played a video game in 2021, when global revenue for the industry exceeded $193 billion. In addition, from 2016 to 2021, gaming grew at a compound annual growth rate of 15.6%

With customer expectations rising dramatically, a key pillar of success for the gaming companies will be continuous innovation and product differentiation. While companies across every sector are still imagining business possibilities the metaverse offers, gaming executives already see growth potential and have a positive outlook for this industry in the near future. By 2025, the global gaming market is predicted to be worth $211 billion, with mobile gaming accounting for $116 billion of that.

Hedera Hashgraph vs Blockchain

By Bob the Builder / Blockchain, Emerging Technology, Financial Services, Fintech, Industry, Insights / October 18, 2023

Distributed Ledger Technologies

As the world progresses towards a more digital future, distributed ledger technologies have emerged as an important area of innovation. Both Hedera Hashgraph and blockchain aim to decentralize record keeping through distributed networks, but they approach the challenge in different ways. With new technologies vying for adoption, it is prudent to examine the relative merits and applications of each approach.

Who To Vote for The Best-Distributed Ledger Technology?

At their core, both Hedera Hashgraph and blockchain seek to distribute trust through consensus-based networks instead of centralized authorities. This allows for transparent, immutable records without single points of failure. However, they diverge in their technical implementations. Blockchain utilizes a linear chain of blocks containing sequential transaction records. Each new block requires proof of work or stake validation from nodes across the network. This process can become computationally intensive at scale.

In contrast, Hedera Hashgraph employs an asynchronous Byzantine fault tolerant algorithm called gossip about gossip. Through this, nodes can validate transactions and reach consensus in parallel rather than serially. Proponents argue this allows Hashgraph to process thousands of transactions per second compared to tens for blockchain. The asynchronous nature also removes mining incentives, prioritizing fairness over competition.

Consensus Mechanisms and Validation Processes

The consensus mechanisms employed by Hedera Hashgraph and blockchain are a key point of differentiation between the two distributed ledger technologies. Blockchain relies primarily on proof-of-work or proof-of-stake to validate transactions and reach network-wide agreement.

Proof-of-work involves miners competing to solve complex cryptographic puzzles, with the first to solve it gaining the right to validate the next block of transactions. However, this process consumes vast amounts of energy as the puzzles increase in difficulty. Proof-of-stake instead selects validators based on their holdings in the native cryptocurrency. While more efficient, there are concerns it could become centralized if ownership is highly concentrated.

Hedera Hashgraph takes a novel approach called gossip about gossip. Rather than competing, nodes communicate approved transactions and timestamps to their peers in the network. Through this asynchronous process, nodes can validate transactions and order them based on virtual voting from across the entire network simultaneously. Proponents argue this results in a fairer, more decentralized consensus without wasteful mining incentives.

Performance and Scalability

While speed and efficiency advantages are compelling, blockchain currently enjoys far broader adoption thanks to its open governance model. As a patented technology, Hashgraph is controlled by its governing council of major corporations. For some use cases, the centralized oversight may discourage participation. Blockchain’s decentralized nature better enables grassroots innovation and independent development.

Both technologies show promise, but their strengths suit different applications. Public, transparent records like digital currencies currently find blockchain a more natural fit. However, as distributed systems assume more vital private sector roles, Hedera Hashgraph’s performance characteristics could make it preferable for supply chain management, IoT networks, or other performance-critical services.

The performance implications of these different mechanisms are also notable. Blockchain’s sequential validation process can currently only handle a limited number of transactions per second depending on the implementation. In contrast, Hedera Hashgraph’s parallel gossip-based approach has demonstrated throughput in excess of 10,000 transactions per second in testing.

Additional Analogous Notes

Hedera Hashgraph offers significant performance advantages over blockchain-based networks like Bitcoin in terms of transaction throughput. Where Bitcoin can only handle 3-7 transactions per second maximum, Hedera has demonstrated over 10,000 transactions per second in testing. This level of scalability could make Hashgraph more suitable than blockchain for applications requiring high volume.

The energy efficiency of Hedera is also a major benefit, with estimates that a single transaction uses over 5.8 million times less energy than Bitcoin. This significant reduction in carbon footprint has implications for sustainability, especially as transaction volume grows.

Compared to other blockchain platforms, Hedera achieves its high performance without relying on power-intensive mechanisms like proof-of-work. Instead, its gossip-based consensus protocol and acyclic graph structure allow for rapid, distributed validation in a more streamlined manner.

Potential Applications Based on Attributes

For use cases like supply chain management or micropayments, this level of scalability could give Hashgraph a clear advantage. However, blockchain has established a first-mover advantage through the popularity of cryptocurrencies, and proof-of-work remains the most stress-tested model to date. Overall, continued development of both technologies promises to drive further innovation in distributed systems going forward.

While Hedera has clear advantages in these areas, it is still in earlier stages of deployment and adoption compared to major blockchain networks. Further real-world testing will still be needed, especially as network size increases, to fully validate the scalability and security of its consensus approach. Continued development on both technologies promises ongoing innovation in distributed ledger solutions.

Overall, healthy competition between the approaches will drive continued progress in distributed ledger technologies for the benefit of businesses and consumers. Further real-world use and development will determine which model proves most versatile.

Sustainability Feasibility study green economy

Comprehensive Feasibility Report- Solarblox

By jp895 / Blockchain, Business Planning, Client Portfolio, Energy, Feasibility & Viability Study, Industry, Market Research / September 27, 2023

Crypto mining consumes a lot of electricity, as per a past report Bitcoin mining consumes about 91 terawatt hours of electricity annually. That’s more annual electricity use than all of Finland, which is a country of 5.5 million people. That’s almost 0.5% of all electricity consumption worldwide. Solarblox intends to cut down the adverse environmental impact of the Mining process, by using renewable energy sources.

Solarblox contracted with Ruskin Felix Consulting LLC to prepare a feasibility study which propagates the idea of lowering the mining impact usage and mine efficiently. The feasibility study presents the assessment of traditional, hybrid and solar power usage, profitability, cost assessment and market assessment for mining the cryptocurrency.

After our market research and intelligence gathering, we were able to demonstrate that there would be a significant positive impact if the mining operations were to be taken place through use of solar energy to power the mining facility. NPV methodology was utilized to assess the financial viability of the project. Our assessment showcased that use of Solar Energy would generate higher profits in the long run, as compared to the use of electricity from traditional power distribution centers. To incentivize the use of this facility, a reward system was designed by RFC in the form of Crypto tokens.

Moving forward, RFC created a road map for SolarBlox, where all the primary milestones like the finalization of construction plans, permits for the pilot facility, and an expansion plan were put forward in a realistic and sustainable manner. Upon successful initiation of the operations, RFC also provided a plan to rapidly expand capacity through additional solar farms and a platform allowing smaller miners to participate. With a first-mover advantage and a strong value proposition, RFC’s analysis indicated SolarBlox could capture a significant percentage of the global hosted mining market within 3 years.

After the completion of our feasibility report, we facilitated in creation of an exclusive pitch deck for Solarblox which helped them to evidently raise capital to fulfil their vision of reaching their desired goal.RFC was clear that the status quo in the crypto-mining industry is unsustainable from both an environmental, regulatory and financial standpoint. RFC formulated strategies for tapping the huge market opportunity which exists that can reduce crypto-mining’s carbon footprint by leveraging cleaner, renewable energy sources. Our team at RFC firmly believes in conducting operations in an environmentally sustainable manner without compromising on financial viability. Thus, the strategies that we propose for our clients reflect the same philosophy to build environmentally sustainable and profitable businesses.

Comprehensive B-Plan & Execution Report – Galaxy Skyverse

Leave a Comment / By Bob the Builder / Blockchain, Blockchain, Business Planning, Client Portfolio, Emerging Technology, Financial Modelling, Industry, Market Research, Media & Entertainment, Strategic Consulting / August 5, 2023

In our collaborative expedition with Galaxy Skyverse, we’ve meticulously woven an intricate tapestry of diverse strategies and expertise, elevating the metaverse experience to unprecedented heights. Our comprehensive approach harmoniously integrates cutting-edge technologies, strategic branding, digital transformation, and market amplification.

Venture Scope and Vision:

Our mission encompassed the evolution of Galaxy Skyverse into a metaverse trailblazer. Through ingenious integration of blockchain and virtual reality, we’ve orchestrated a paradigm shift, culminating in the inception of a VR-based metaverse mall. This transformative landscape seamlessly amalgamates e-mail, gaming, OTT, DeFi, and asset management within a unified platform.

Strategies Deployed:

Holistic Marketing Blueprint: Central to our collaboration was the formulation of an expansive marketing strategy intricately woven with a meticulous Go-To-Market (GTM) plan. This facilitated not only a clear market entry strategy but also a profound understanding of the target audience, while delineating an actionable roadmap for engagement and conversion.

Refined Brand Identity: We undertook the task of refining Galaxy Skyverse’s branding identity and logo, transcending the mundane and ushering in a new era of distinction. This strategic rebranding set the stage for enhanced differentiation, endowing them with a powerful competitive edge.

Digital Transformational Leap: Our collaboration ventured into the realms of web development and UI/UX design, signifying a monumental stride towards global prominence. This facet of our approach ensures a seamless online presence, while the UI/UX design aligns user experiences with their preferences, paving the path to brand loyalty.

Strategic Social Media Mastery: The management of social media platforms such as Instagram and Twitter was integral to bolstering Galaxy Skyverse’s digital marketing strategy. This comprehensive approach fortified their digital footprint, establishing a firm foundation for market resonance and growth.

Rebranding Triumph: Through a strategic redesign and rebranding of their logo, we’ve orchestrated a visual transformation that not only captivates but leaves an indelible mark. This strategic rebranding reaffirms their unique identity, setting them apart while fostering customer allegiance.

Culmination and Impact:

This consulting report encapsulates a journey that epitomizes synergy and innovation. Galaxy Skyverse has not merely transformed its identity; it has embarked on an epoch-making voyage of technological evolution, branding resonance, and market dominance. As a result of our unified endeavors, Galaxy Skyverse now stands poised to define new horizons in the metaverse, an embodiment of our commitment to excellence and innovation.

In sum, this consulting report serves as a testament to the amalgamation of multifaceted strategies and relentless dedication, crafting a narrative of transformation, innovation, and triumphant success for Galaxy Skyverse.

bitcoin blockchain, private blockchain, blockchain networks, blockchain system, blockchain protocol, conduct transactions

The Impact of Blockchain Technology

By Ruskin Felix / Blockchain, Emerging Technology, Industry, Insights / April 11, 2023

INTRODUCTION

What is Blockchain Technology?

Blockchain technology is a decentralized, digital ledger that records transactions in a manner that is both secure and transparent. The system operates by leveraging intricate algorithms to validate and verify each transaction before adding it to a block.

This process ensures that any added block becomes immutable, preventing unauthorized modifications and ensuring the system remains tamper-proof.

Think of a giant notebook that anyone can use to jot down their notes, but once they’re written, no one can remove or modify them. This is how a blockchain operates. The system is upheld by a group of interconnected computers, known as nodes, that collaborate to authenticate transactions and maintain the accuracy of the ledger.

Blockchain technology has a significant impact on consulting. Smart contracts and blockchain applications are transforming how businesses operate, while existing blockchain infrastructure is being used for storing data in a secure and immutable way.

The blockchain platform eliminates intermediaries in financial services, making payment processing faster and more transparent. Additionally, document timestamps provide a reliable way to prove ownership and authenticity, while Bitcoin transactions offer a decentralized means of exchange.

With the entire blockchain serving as a public ledger, businesses and consumers alike can benefit from increased transparency and accountability.

Types of blockchain technology

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Public blockchain network

Public blockchain networks are accessible to all and allow anyone the ability to partake in its network. It’s decentralized and open, thereby enabling anyone to scrutinize and authenticate the transactions that occur on the network. Examples of public blockchain networks include Bitcoin and Ethereum.

Private blockchain

A private blockchain network is owned and operated by a single organization or entity. It is used for internal purposes and is not open to the public. The organization controls who can join the network, view the transactions and participate in the validation process. Private blockchains are often used in industries such as finance and healthcare to improve security and transparency within the organization.

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Consortium blockchains

A consortium blockchain network is a collaborative effort between multiple organizations that want to share a blockchain network while still maintaining control over their data. Consortium blockchains are often used in industries such as supply chain management, where multiple parties need to access and verify the same data.

Hybrid blockchains

Hybrid blockchain network combine features from both public and private blockchains. They provide the advantages of public blockchains, including security and transparency, along with the control and privacy of private blockchains. Hybrid blockchains are commonly implemented in industries such as finance, where data privacy and regulatory compliance are significant.

HOW IS BLOCKCHAIN CHANGING MANAGEMENT CONSULTING?

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Automation

Blockchain technology is automating many tasks in management consulting, which leads to faster and more accurate decision-making. This reduces costs and improves efficiency for consulting firms.

Streamlined data analysis

Blockchain technology provides a secure and reliable platform for data sharing and analysis. This enables consulting firms to streamline their data analysis processes and make better decisions.

Improved collaboration

Blockchain technology is facilitating better collaboration between consulting firms and their clients by providing a shared platform for data management and analysis. This leads to better communication and collaboration among team members.

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Data protection

Blockchain technology provides a tamper-proof and transparent platform for data sharing and storage. It enhances data protection and security which is particularly important in industries such as healthcare and finance.

Personalized services

By facilitating tailored data analysis and insights, blockchain technology empowers consulting firms to deliver bespoke services to their customers. This enables consulting firms to cater better to the distinct needs and demands of their clients.

Enhanced visibility

Blockchain technology provides greater visibility into data and processes by providing a transparent and secure platform for data sharing and analysis. This allows consulting firms to better understand their clients’ operations and make more informed recommendations.

WHY SHOULD CONSULTANTS CONSIDER ADOPTING BLOCKCHAIN TECHNOLOGY?

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Increased security

The technology of blockchain creates a secure and transparent platform for the exchange and safekeeping of data. This strengthens data protection and minimizes the danger of data breaches and cyber-attacks.

Quicker transactions

Blockchain technology enables faster and more efficient transactions which can significantly reduce processing times and improve productivity.

Enhanced visibility

Blockchain technology provides greater visibility into data and processes by providing a transparent and secure platform for data sharing and analysis. This allows consultants to better understand their clients’ operations and make more informed recommendations.

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Reduced costs

By enabling the automation of various processes and obviating the necessity for intermediaries in transactions, blockchain technology can contribute to cost reduction.

Improved accuracy

Blockchain technology ensures the accuracy of data by providing a secure and reliable platform for data sharing and storage. This helps consultants make better decisions and provide more accurate recommendations to their clients.

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Enhanced scalability

Blockchain technology can scale to meet the needs of any organization, making it an ideal solution for consulting firms that work with clients of varying sizes and complexities.

Improved client relationships

By adopting blockchain technology, consultants can offer their clients better and more personalized services. This can help build stronger client relationships and lead to more repeat business.

BENEFITS OF BLOCKCHAIN TECHNOLOGY TO CLIENTS

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Increased efficiency

Blockchain technology enables faster and more efficient transactions, reducing processing times and improving productivity. This translates into faster and more efficient services for clients.

Improved security

The utilization of blockchain technology creates a secure and immutable platform for data sharing and storage, significantly enhancing data security and mitigating the risk of data breaches and cyber-attacks. This guarantees the safeguarding of clients’ valuable and sensitive information.

Enhanced accessibility

Blockchain technology provides clients with easy access to their data and enables them to share it securely with others. This enhances data accessibility and ensures data can be shared across multiple platforms and devices.

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Improved transparency

Blockchain technology provides a transparent and secure platform for data sharing and analysis. This enhances transparency in transactions and allows clients to track their data and transactions in real time.

Greater flexibility

Blockchain technology offers greater flexibility in data sharing and analysis allowing clients to customize their data analysis and management to meet their specific needs.

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Lower costs

Blockchain technology can reduce costs for clients by automating many tasks and eliminating intermediaries in transactions. This translates into more affordable services for clients.

Prevention of potential fraud

Blockchain technology provides a tamper-proof and transparent platform for data sharing and storage. This ensures that data is not altered or manipulated reducing the risk of fraud in transactions.

CONCLUSION

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In conclusion, blockchain technology has brought a significant change in the management consulting industry by offering a secure, transparent and efficient platform for data sharing and analysis.

Blockchain technology holds great potential to revolutionize the operations of consulting firms allowing them to provide speedy and efficient services to clients while simultaneously lowering costs and bolstering data security.

Furthermore, blockchain technology has created new prospects for collaboration and innovation, enabling consulting firms to work with other businesses and industries to develop new solutions and foster growth.

We at Ruskin Felix Consulting help clients generate long-term value for all stakeholders. We use blockchain technology to harness the blockchain ecosystem and provide Strategic Planning, development services, smart contracts development, and blockchain app development. Please feel free to contact us at contact@ruskinfelix.com

Understanding Technology Consulting

By Ruskin Felix / Blockchain, Consumer Goods, Emerging Technology, Fintech, Industry, Insights / February 20, 2023

WHAT IS TECH CONSULTANCY?

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Consulting services provided by information technology (IT) experts bring with them not just a wealth of knowledge and experience but also novel ways of looking at and solving IT and operational problems. In a group, everyone tries to enable businesses and organizations to radically alter their approach to leveraging technology by furnishing them with technological solutions, frameworks, assessments, best practices and fallback mechanisms.

IT consultants focused primarily on helping their clients maximize technical prospects while minimizing costs. To be sure it still covers the basics of Digital Transformation, but it has expanded to include more advanced concepts like Cloud Migration, AI, Cybersecurity, Data Science, SaaS Enablement, etc. Increasingly, consulting firms are eliminating silos and treating each department inside an organization as a separate entity to foster holistic development.

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The technological sector as a whole is constantly evolving, with new developments occurring in every area from infrastructure to software to research methods. The assistance of skilled technology consultants is frequently needed by businesses that hope to keep up. Whether or not you think you want to offer technology consulting services depends, in part, on your familiarity with the stages involved in entering this field.

Companies are increasingly turning to consultants for assistance in capitalizing on the potential afforded by IT developments. Businesses benefit from IT consulting services when they implement new technologies and expand their operations. IT consulting, computer consulting, and other types of consulting are only a few of the many services offered in the IT sector.

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NEED FOR TECHNOLOGY CONSULTING FIRMS

There are many reasons why businesses might want to hire a technology consulting firm.

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Access to the latest trends and best practices

In this ever-changing technology landscape, it can be difficult for businesses to keep up with the latest innovations and standards in their field. Keeping up with the latest innovations in cutting-edge technology can be challenging, but consulting services can help firms stay ahead of the curve.

Guidance on product design

Information technology consulting firms can help organizations improve their products by implementing the latest in user-centered design and technological advancements. This helps companies create products that are more likely to satisfy their customers’ requirements.

business success, market leaders, business problems, important processes

Guidance on digital marketing

In today’s increasingly competitive business world it is naturally important to stay up-to-date with the latest developments in digital marketing is crucial. Your company’s goals can be furthered and your ideal clients can be reached if you follow these steps.

Guidance on data security

Data security is becoming an increasingly pressing issue for businesses, and consulting services can help you figure out how to best protect your company’s data.

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Upcoming AI & automation

As AI and automation grow more widespread which in turn leads consulting services to teach organizations on the best methods to apply the technology which allows them to reap the most possible benefits.

Business strategies

In the highly competitive world of tech consulting, firms must leverage the latest business strategies to stay ahead of the curve. For example- many leading software manufacturers are experiencing rapid growth, and this presents an opportunity for consulting practices to offer advisory services to help companies navigate this landscape. To create sustainable value for their clients these consulting firms may need to focus on specific industries, such as life sciences, and tailor their offerings accordingly.

Operating model and strategy consulting can be combined with management consulting to deliver a holistic approach to problem-solving. By staying on top of these trends and continually refining their approach, tech consulting firms can position themselves as trusted partners for businesses looking to thrive in the digital age.

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WHAT DOES A TECHNOLOGY CONSULTANT DO?

Many different tasks are possible for a consultant in the field of technology. Some of them are mentioned below

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Develop custom programs

Companies frequently enlist the expertise of IT and tech-focused consulting firms in the development of in-house applications. They also assist with the software’s protection, upgrades and maintenance.

Plan technology infrastructure

If a company needs to update its IT infrastructure it is key to focus on hiring a technology consultant since they can assist with the planning of the necessary modifications, the estimating of costs and the assessment of risks.

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Perform risk assessments

Technology consultants can help with things like assessing the dangers of starting up a new business in the tech sector, updating an existing IT system or introducing a new technology.

Manage company IT tools

Computers, networks and security systems are all examples of IT products that can prove challenging to manage without the assistance of an expert. One of the things they go over is best practices and safety measures.

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Advise companies on modern IT practices and tools

The newest IT trends, uses and technologies are crucial to maintaining a competitive edge, therefore many companies employ tech consultants to help them stay informed.

Research competitor IT tools

Consulting firms specializing in information technology can aid their client companies in doing competitive analysis by compiling information about the technical resources of the rival company.

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Handle project management duties

Some consultants in the field of information technology also take on the role of project managers, directing the rollout of new systems software and hardware.

Perform repairs and provide maintenance support

Tech consultants can help with any issues that arise with the company’s IT resources. They are also useful for training the help desk and IT staff.

There are experts in the IT industry whose primary concentration is cybersecurity; they advise firms on how to best utilize the most recent and cutting-edge security tools.

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TOP TECHNOLOGY CONSULTING FIRMS

Top consulting firms have advisors who have the following requisite sets of technical and soft skills, which are:

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Computer science skills

To effectively advise companies on technical concepts and operations, consultants need a solid grounding in computer science basics.

Cybersecurity skills

Expertise in a wide variety of cybersecurity uses and the most recent threats to IT infra allows consultants to advise their customers.

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Collaboration skills

It is common practice for experts to identify a company’s technology needs after speaking with top management, workers, and stockholders. Because of their collaboration skills, such as active listening and delegating, they can identify needs and complete goals.

Programming skills

Depending on the consultant’s specialty, they may or may not have extensive knowledge of computer science and program development. Customers can seek their assistance with concerns like cybersecurity solution programming and custom program development.

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Database skills

Knowledge of databases and how to create, manage, and query them is a typical skill among IT consultants. Then, they can advise their customers on the best ways to manage their information.

Patience

IT consultants who want to help their clients make the best decisions for their businesses must take the time to patiently explain technical requirements, capabilities, processes, and solutions. Good consultants will be well-versed in both people and computers.

Attention to detail

To do a good job, consultants need to have all the information they need about a project or assignment at their fingertips. This requires a high level of accuracy and the ability to see even the tiniest of errors in a work in progress.

Negotiation skills

He or she should have strong interpersonal skills since they may occasionally negotiate IT changes with company officials.

LATEST TRENDS IN TECHNOLOGY CONSULTING

In recent years, consulting has taken on a wider variety of assignments. It could have a major bearing on the creation of novel digital approaches or technology. Given the rate at which it is evolving we can see that this area is becoming increasingly vital to the success of growing companies.

Consulting services are useful for expanding a business, reducing risks, saving costs or switching up operations.

Aspiring technology consultants would do well to make keeping up with technological changes a priority. Two of the most significant changes in technology consulting are the advent of data-driven decision-making, aided by cloud-based solutions, and the implementation of AI and ML. Many companies continue to struggle with cybersecurity concerns, but specialists are available to assist them to stay ahead of the curve. Your success as a technology consultant depends on your ability to stay on top of these changes.

Consulting firms offer services in the field of information technology to help firms better utilize IT to achieve their objectives. A technical consultant will plan and execute measures to accomplish this objective.

Information technology consulting services can range from the conceptualization of a new technology to the management of an organization’s IT infrastructure. A consulting firm is often enlisted by industry players to aid in the development of new IT infra. The risks posed by the current system may also be examined.

WHEN SHOULD A COMPANY GO FOR TECHNOLOGY CONSULTING?

The sheer variety of options in the IT market may seem overwhelming at first glance. Options range from a wide variety of programming languages and other technological tools but are not restricted to them alone. Then, what do you need?

The easiest way to identify a requirement is to study the organization’s goals. The next step is to hire a consulting firm with the necessary IT expertise and a portfolio adapted to the needs of the business.

A full-time IT specialist may be too expensive for a startup. Paying personnel on a time and materials basis is advantageous for technology consulting firms. Many companies can do without the monthly cost of IT support.

A company may look for someone to implement a new system and train its staff on its use. From that point on, the business is free to handle the order on its own, with the expert on call to help out if necessary.

In the context of information technology, consulting also includes offering guidance on, and sometimes even hands-on assistance with, the deployment of necessary programs and hardware. IT advice in the form of program recommendations for a law firm that has operated with paper files has proven to be quite beneficial.

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The team will have an easier time establishing and maintaining an electronic file system with the help of such programs. Technology is having an ever-increasing impact on every facet of our lives; as a result, this type of consultancy may benefit any industry and usher in significant advancements.

Among the many services offered by technology advisors is the examination of massive datasets. This helps find the best way to survey and analyze a company’s clientele. All of this information is useful for future excursions.

Another reason why firms require the services of technology advisors is that they, like marketing consulting firms, have the potential to affect a company’s output and promotion.

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CONCLUSION

In conclusion, technology consulting is an ever-evolving field where being aware of advancements is crucial to ensuring customer satisfaction. Cloud services, data-driven decision-making, artificial intelligence, and machine learning are all significant innovations in the field of technology consulting. To effectively counsel their clients, technology experts must keep abreast of all the latest developments as firms continue to invest resources into these areas. Consulting firms that specialize in technology may aid their clients in thriving in today’s dynamic business climate by monitoring trends and providing solutions as they emerge.

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Understanding Growth Strategy Consulting

By Ruskin Felix / Advanced Manufacturing, Automotive, Blockchain, Cannabis, Emerging Technology, Fintech, Industry, Insights / February 4, 2023

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Growth strategy consulting is a type of business consulting service that helps organizations to increase their market share, revenue, and profitability.

DEFINING GROWTH STRATEGY

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After a company’s growth plans have failed, Consultants can help them to develop effective ideas. Consultants specialized in growth strategy assist businesses and investors implement new strategies that boost their market share, profitability, etc. Consulting firms that specialize in growth strategies aid CEOs and other corporate executives in accomplishing their long-term objectives, such as expanding their market share, boosting profits, and attracting new investors.

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Growth strategy consultants generally involve a combination of tactics and initiatives designed to give profitable growth, similar to expanding into new areas, launching new products or services, acquiring numerous businesses, and investing in research and development. Growth strategy Consultants generally put into use their wits into factors which help organizations produce a path for top-line growth of their diligence. A well-designed growth strategy bears immense man-hours which are spent understanding various methodologies which come into play when any company or association aims to do a fine job. Growth strategy advisers conduct a SWOT analysis to determine a company’s value, and consequently give sapience to develop such a business strategy, which appeases the consumers. Business strategy should concentrate on a path that proves to be of value to any said businesses and they need to be made in such a manner that sets out specific goals, timelines, and criteria for success.

INSIGHTS OF GROWTH STRATEGY CONSULTANTS

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Growth strategy consultants are the experts who aid businesses in formulating a plan for growth starting from planning, development, and implementation. A consultant’s definition of a growth strategy is a blueprint for how a business intends to expand its operations, customer base, and market share.

The key elements of a growth strategy, as defined by a growth strategy consultant, may include:

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Market analysis

Identifying growth opportunities requires an in-depth knowledge of one’s target market, one’s rivals, and one’s clients’ wants and needs.

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Diversification

Diversifying a company’s products, services, or customer base to increase growth potential. Content like ads, blogs, social media postings, etc. should be created in order to share knowledge their services.

Expansion

Growth in geographical expansion, corporate mergers, or market penetration, before venturing into the uncharted ground, you should first do an extensive research on each of these subjects.

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Innovation

By giving people brand-new choices, you’re helping them find solutions to their problems. As advisors specializing in strategies for rapid expansion, they are tasked with attracting new customers.

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Customer focus

Keeping current customers happy and attracting new ones by building meaningful relationships with them.

Collaboration and partnership

Working together with other organizations, whether they are customers, vendors, or partners, to more rapidly achieve common growth goals.

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Measurable goals and targets

Consultants specializing in growth strategies can help businesses evaluate their existing state, locate potential growth areas, and formulate a growth plan tailored to their unique needs. The consultant will then assist the business in putting the growth strategy into action, monitoring its progress, and adjusting it as necessary.

In conclusion, these growth strategy advisers define growth strategy as a comprehensive plan that outlines the way a company will take to increase its size, scale of operations, profit share, and overall success, which also includes a collection of rudimentary info like- primary analysis, diversification, expansion, invention, client focus, collaboration, and measurable innovation and targets.

WHAT IS MEANT BY GROWTH STRATEGY CONSULTING?

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Growth strategy consultancy includes a wide range of services, including research into untapped areas, product line expansion across industries, and stellar customer care. To begin with, the consultant investigates the company as it stands in present and sees what kind of expansion opportunities the consultant can find. To get there, one must identify the internal and external factors that are stalling progress and devise a strategy to overcome them.

It entails a wide range of activities, including providing superior customer service; researching untapped markets, broadening product offerings across industries, and adopting tried and true growth techniques. We begin by researching the company as it stands and pinpointing areas for expansion. To do this, one must identify the internal and external factors that are stifling progress and then devise a strategy to overcome them.

BUSINESS OPPORTUNITIES USING GROWTH STRATEGIES

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The goal of any business plan should be to maximize the return on investment (ROI) using the resources and efforts invested. Focusing on a strategy for growing a business, by attracting more customers, capturing a larger part of the market, and branching out into other product lines.

There are several different types of growth strategies, including:

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Market penetration:
Create a strategy aimed at increasing sales and market share within existing markets.
Market development:
Acquiring and entering new areas or reaching new customer segments.
Product development:
Putting out brand-new variants of existing products to satisfy shifting consumer tastes.
Diversification:
This plan calls for the corporation to branch out into completely new markets.

In conclusion, growth strategy is a critical component of a company’s success, and firms need to approach it with careful planning, execution, and monitoring. A well-designed and implemented growth plan can help firms achieve their goals, increase their market share, and become more competitive in their industries.

ADDING VALUE TO ANY BUSINESS STRATEGY

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Regardless of the type of growth strategy, several factors are critical to its success, including:

Understanding Value of the Market:

A company must have an evolved understanding of their target markets and clientele to effectively implement a growth strategy.

Having the right resources:

To implement a growth strategy, a corporation needs access to resources like money, people, and tools.

Being flexible and adaptable:

They must stay sharp and, on their feet, to quickly adapt to changing market conditions and customer needs.

Having a clear and concise plan:

There needs to be a well-thought-out plan in place before a business can expect any kind of growth from its strategy.

In conclusion, implementing a growth plan can be an effective method for industries to raise their size and ratio, but it is critical to approach it wisely and intelligently, taking into account all of the main variables that can impact their performance.

UNDERSTANDING KEY TERMINOLOGIES

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Some key terms which come into play and are used by these growth strategy consultants are:

Failed Growth Initiatives

Failed initiatives are projects or ideas that don’t achieve their intended results which leads to wasting resources and wasting opportunities. A variety of reasons can contribute to this such as inadequate planning, a lack of market research, or poor execution.

A failed initiative can lead to significant consequences such as loss in revenue, market share and reputation. To implement a well-designed and accurate market insight-driven growth strategy, clients must work closely with a growth consultant.

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A modal dialog box is a type of interface element that displays content on top of the main screen and requires the user to interact with it before returning to the main screen. Closing the modal dialog returns the user to the main screen and allows them to continue using the website or software.

Product launches

It refers to the process of introducing a new product or service to the market. Before launching a product, market research, product development, marketing efforts are needed. Product launches can be critical to a company’s success and are often a key part of a growth plans.

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Default values

A system or a software program assigns a variable or a parameter predetermined values. Users and programs can change these default values as needed, but they serve as starting points. By simplifying the process of entering information in a program or system, they are often selected based on best practices or common usage patterns.

Video play

It is a form of multimedia content consisting of both moving images and sound. Marketing campaigns, product launches, and even training initiatives can all benefit from the inclusion of video content. Many businesses utilize films to advertise their wares, show customers how things work, and educate and instruct staff. Brand recognition, lead generation, and consumer interaction are all outcomes that can benefit from the use of video.

Dialogue Captions

Using words in Advertising and Marketing plays an important role in making Business Consulting a brand. It is important to have good slogans for Business Consulting to attract more customers and take advantage of technology to create a path for future growth.

Disruptive technology

Provides state-of-the-art solutions to perennial problems, making it easier and more efficient than ever before for businesses to function. Successful businesses are those that can quickly adopt new technology in order to compete in the market, take advantage of new opportunities, and grow their operations. Many times, a company’s growth strategy must take into account the impact of disruptive technologies. The consultant will analyze how other firms’ use of comparable technology affects the target firm’s expansion plans and propose ways for swaying the tech in favor of the client.

BUSINESS UNIT STRATEGY FOR A CHANGING WORLD

Some success-ensuring elements of a business unit strategy for a changing world that can help drive growth include:

Digital Transformation

For better operations, greater efficiency, and access to new customers, industries should collaborate with business strategies that integrate digital technologies.

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Agile Operating Model

Successfully adapting to changing market conditions and seizing new opportunities requires a business model that is both nimble and adaptable.

Customer Centricity

Their primary aim should be to deliver exceptional customer experiences, based on understanding customer needs and preferences and delivering products and services that meet those needs.

Data-Driven Insights

To develop and innovate, businesses need to use data and analytics to better understand their customer’s actions, preferences, and the state of the market.

Collaboration and Partnership

Organizations need the ability to collaborate and their suppliers and partners to encourage growth, pool resources, and enter new markets.

Improvement, competitiveness, efficiency

Continuous Improvement

Round-the-clock improvements need to be made which can then help increase efficiency and competitiveness.

Digital transformation, an agile operating model, customer centricity, data-driven insights, cooperation and partnerships, and continuous improvement are all essential components of a growth-oriented business strategy in today’s ever-evolving global market. By concentrating on these areas, businesses can boost their competitiveness, adaptability to changing market conditions, and long-term success.

SIMPLIFYING GROWTH STRATEGY WITH RFC

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We work closely with our clientele to build and articulate plans that ensure growth that is well-researched, well-designed, and well-executed. We provide ongoing support and guidance to ensure the success of the growth initiative, and regularly evaluate and adjust the strategy as needed.

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Understanding Metaverse Consulting

By Ruskin Felix / Blockchain, Emerging Technology, Fintech, Industry, Insights, Private Equity / January 31, 2023

digital economy, virtual world, brands, real estate

WHAT IS METAVERSE CONSULTING?

To partake in this journey of ‘understanding metaverse’ it is evident to know the meaning of it. It is a revelation of what many in the computer industry believe is the next iteration of the internet: a single, shared, deep-diving, persistent, 3D virtual space where humans experience life which is just fiction in the real world but a reality here. In the growing world, Businesses and other organizations make use of “metaverse consultancy,” which entails a set of advisory services aimed at enlightening them about the metaverse and helping them to better understand how to put it to work for them.

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You, not only can, make friends, raise virtual pets, design virtual fashion items, buy virtual real estate, attend events, and create and sell digital art, but also earn money in the Metaverse. Some of these technologies are augmented reality and virtual reality. Services include strategy planning, design, development, and operational support. As the metaverse develops, it becomes increasingly important for businesses to offer cutting-edge products and services. Companies are getting help from advisory firms so they may learn how to use the metaverse to its full potential.

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Metaverse companies that are thinking about shifting to a decentralized financial model and implementing blockchain technologies require a solid plan to accomplish so. Brands may improve the quality of the brand experience they offer to new and existing customers by using smart contracts and digital twins, which allow them to take part in the expanding metaverse economy. Hence, metaverse formulating company can then shift on a decentralized finance model which aids in smooth functioning of digital assets and metaverse projects and maintain technological superiority with this cutting-edge infrastructure.

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WHAT IS NFT CONSULTING?

NFTs consulting can help businesses and other organizations determine whether, how, and when NFTs-based solutions are feasible, as well as build, deploy, and manage those solutions. Nonfungible tokens are digital or physical tokens that represent rights to ownership of nonfungible assets (NFTs). A consultancy firm specializing in NFTs can provide expertise in areas of- market research, creating tokens, integrating with platforms, and maintaining tokens over time.

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UNDERSTANDING VIRTUAL WORLDS

Whilst being in an interconnected environment via a network of computers, users live in a virtual world. To create these virtual worlds, 3D models, animations, and other visual and auditory aids may be used. The term “virtual reality” (VR) refers to expertise that creates a convincing representation of the factual space within a computer. Three-dimensional space, sensory data, and computer-generated visuals all contribute to its creation. A simulation is just a copy of the genuine thing.

investors, brands, connect, infrastructure, worlds

Digital inventors and enthusiasts are providing more value to their clients and customers by making use of smart contracts and decentralized finance to digitally transform real estate and launch NFT marketplaces in the metaverse. Investors have flooded the market with these inventions in the hopes of creating customer value.

Unity’s Unreal Engine has been used by some of the most ambitious real estate metaverse initiatives to bring branded live-action events into the real world. With the help of Metaverse applications, businesses may bring simulated products and settings closer to customers.

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METAVERSE AND AI IN THE VIRTUAL UNIVERSE

Artificial intelligence (AI) in online settings is a new area with exhilarating potential to enhance the allure and realism of online environments. Artificial intelligence can improve virtual worlds by introducing and imbibing more realistic simulations and interactions, faster decision-making, and more. AI-powered virtual worlds can also be used to train and evaluate AI models carefully and effectively.

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Numerous examples of this service include various domains like- virtual customer service agents, virtual assistants who possess excellent communication skills, and immersive virtual worlds for gaming and simulation. The integration of artificial intelligence (AI) with tech savvy environments can completely alter how people study, play, and conduct business in simulated online environments.

METAVERSE DEVELOPMENT COMPANIES

The creation of the metaverse will be aided greatly by the growth of digital economies and the introduction of virtual settings into the physical world. Hence, RFC’s goal is to facilitate the funding needs of other firms by demonstrating effective uses of smart contracts and business models.

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Our vision focuses on the following areas: project development, helping gaming companies with digital, forming a digital network, establishing a physical presence; usage of blockchain technology; generating digital experiences. To increase awareness of the virtual platform to attract potential users, promotion of digital goods.

WHAT ARE COMMON METAVERSE DEVELOPMENT SERVICES?

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COMMON METAVERSE SERVICES INCLUDE:

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Augmented Reality (AR) design and development
3D modelling and animation
Metaverse platform integration
User experience (UX) and user interface (UI) design
Metaverse event planning and execution
In-metaverse monetization strategy
Virtual asset creation and management
Metaverse platform hosting and maintenance
Metaverse community management and moderation

Forming a digitally immersive platform based on various Haptics, including gloves, vests and even full-body tracking suits, that users can explore and interact with is an integral part of the process of designing and developing VR experiences for consumers so that they can have more lifelike interaction with the virtual environment. Developing a virtual reality experience involves many disciplines, including but not limited to hardware and software engineering, 3D modelling and animation, user interface and experience design, and computer programming.

In addition to its current applications in the gaming and simulation industries, virtual reality (VR) has a wide range of other promising applications. Virtual agents, which are powered by artificial intelligence, can be used in virtual-platform learning to provide guidance, nudge, and scalable challenges to students.

Augmented Reality (AR) design and development

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AR requires a lot of R&D for its design and creation. Examining the creation of elements that can be overlapped above the real environment to enhance the user’s experience. Some examples of devices that can be used to experience AR include smartphones, tablets, and specialized AR headsets.

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An AR design and development company may help with generating 3D models and animations, designing user interfaces and experiences, and developing and implementing AR technologies. The aforementioned applications are only the beginning of what AR can do. It’s not uncommon for a successful development team to have members with extensive experience and talent in AR design and development.

3D modelling and animation

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The process of making and animating 3D models for use in simulated environments and worlds is known as “3D modelling and animation in the metaverse.”

Unlike 3D modelling, which produces static models of objects and characters, animation gives them life through movement and the capacity to respond to their environment. 3D modelling and animation are essential to the design and development of virtual reality, enabling the creation of interactive and immersive virtual experiences. Virtual reality 3D modelling and animation teams frequently consist of artists and animators who are an expert with the applicable tools.

Metaverse platform integration

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Components of a metaverse platform may include, but are not limited to, virtual reality (VR) and augmented reality (AR) systems, content management systems (CMS), and blockchain technology.

Metaverse world consists of establishing connections between systems and platforms, developing our APIs and integrations, and extensive testing to make sure everything works together are all part of our platform integration services to deliver the best possible service which in turn helps us assist our customers. These services are integral to a fully functional and enjoyable VR experience and are typically provided by development teams that specialize in platform integration, digital software and related areas.

User experience (UX) and user interface (UI) design

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User experience (UX) and user interface (UI) design is the work put in to simplify how users will interrelate with and use digital products and services.

Planning out the flow of events, making controls easy to use, and rigorously testing the whole system are all crucial to providing consumers with a positive and stress-free virtual world experience. Avatar creation, virtual world layout, and UI design are all possible tasks while forming it for the metaverse. Virtually all UX/UI design teams in the metaverse have at least one member with experience in game design.

Metaverse event planning and execution

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In layman’s terms “metaverse event planning and execution” is to characterize the process of organizing and staging numerous online virtual events, such as concerts, conferences, and trade displays, all inside the limitations of virtual reality. The event’s specific needs will be taken into account as we meticulously map out every aspect, from setting up the stage to connecting with the crowd. Virtual reality events require a lot of work behind the scenes, including brainstorming and developing ideas, integrating platforms, and managing the actual event itself.

The success of virtual events depends heavily on the quality of the services provided to the participants. Teams responsible for producing, designing, and developing virtual reality events usually consist of people who have prior knowledge in these areas.

In-metaverse monetization strategy in Virtual Reality

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In-metaverse monetization strategy pertains to money which is to be made with the help of the metaverse. Some apparent methods of metaverse monetization through advertising, the sale of virtual goods, and the charging of users for access. There are 3 main ways that companies can control this monetization methodology — making metaverse platforms, sponsoring famous metaverse users, or inhabiting a space of the metaverse.

Teams working on in-metaverse monetization techniques typically include business strategists, marketers, and data analysts familiar with virtual economies and customer behaviors.

Virtual asset creation and management

“Creating and managing virtual assets in the metaverse” refers to the process of designing, making, and monitoring digital representations of physical objects. Part of this process is manufacturing and selling virtual versions of clothing, accessories, and furniture.

Additional services, like digital payment networks and trading venues, can be offered alongside the development and administration of virtual assets. Teams of designers and developers who specialize in producing virtual goods and assets and designing games are essential to the success of a digital metaverse economy.

Metaverse platform hosting and maintenance

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You can create a home for the machinery and programs that run metaverse worlds. Software upgrades, network administration, and server hosting are all components of maintenance. Understanding the tech and algorithm is a key aspect of running this efficiently.

Metaverse platform hosting and maintenance services are crucial for ensuring the continuity and functionality of the metaverse. Experts in cloud computing, network management, and security are common members of the teams responsible for hosting and maintaining metaverses.

Metaverse community management and moderation

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The term “Metaverse community management and moderation” is used to define the practice of overseeing and regulating online environments that have been created with the express purpose of promoting a specific brand or corporation via the Internet and other social media platforms. Some examples of this behaviors are actively listening to others and keeping an eye out for rule breakers.

Success in metaverse communities depends on having teams of moderators and community administrators with experience in online community administration, customer service, and related fields.

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METAVERSE SERVICES WITH RUSKIN FELIX CONSULTING

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We help businesses all over the world enter the digital market and provide their customers with first-rate service by conducting research and creating cutting-edge applications. Get in touch with our experts here at RFC right away to launch your idealized metaverse project right away.

blockchain payment solutions, blockchain payment systems

Payments Using Blockchain Payment Systems

By Ruskin Felix / Blockchain, Consumer Retail, Emerging Technology, Fintech, Industry, Insights / January 25, 2023

How does a blockchain payment system work – Pymts?

Blockchain can be used to facilitate payments by enabling the transfer of digital assets or currencies directly between individuals without the need for intermediaries such as banks or payment processors. Transactions are recorded on a public ledger that is maintained by a network of computers, making the process secure and transparent. Blockchain-based payments can also enable faster and cheaper transactions compared to traditional methods. These blockchain payments are done on smart contract platforms and record transaction data, payment flows between all financial institution and peers.

Steps of Transaction processing through blockchain

Transaction processing on a blockchain network involves several steps to be executed on a payment system :

A user initiates a transaction by creating a digital signature using their private key, which serves as proof of their identity and authorization.
The transaction is broadcast to the network, where it is picked up by nodes called “miners.”
Miners validate the transaction by checking the digital signature and the user’s balance to ensure they have sufficient funds to complete the transaction.
Once the transaction is validated, it is grouped with other transactions into a “block.”
Miners compete to solve a complex mathematical problem to add the block to the blockchain.
Once a miner successfully adds a block to the blockchain, the transactions within it are considered confirmed and the funds are transferred.

This process ensures that the transaction is recorded tamper-proof, and the funds are transferred securely and transparently.

A blockchain payment system is usually used to transfer money through a payment gateway and execute instant payments through money transfer with no waiting periods. It enables businesses beyond debit cards and a traditional banking channel for peer-to-peer transfers on a secure blockchain. These cryptocurrency payments are made using smart contracts and

KYC in Blockchain payments

KYC (Know Your Customer) is a process by which businesses verify the identity of their customers to comply with laws and regulations, such as anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations.

Blockchain has the potential to facilitate KYC by creating a secure and tamper-proof record with digital identity verification of customer identities.

This can be done using blockchain-based digital identities, which can be verified using digital signatures and other forms of digital authentication irrespective of cross-border payments on a blockchain Payment platform.

Decentralized and centralized payment systems aim to reduce their operational and compliance costs for cross-border payment by executing such a transaction process and payment processes involving fiat currencies.

Usually, in cases where merchants fail the process of their verification credentials, no new transaction is possible until the regulatory compliance on the blockchain system is fulfilled

Once a customer’s identity is verified on the blockchain, the information can be shared with other businesses and organizations, allowing for a more efficient and streamlined KYC process.

However, implementing KYC on blockchain can raise legal and regulatory issues, like data protection and privacy. As all your documents are submitted to encrypted distributed ledgers, users submit without reading contract agreement terms.

There have been many such cases that involve bitcoin where hackers steal money by hacking the accounting software

Moreover, the technology is still maturing and there needs to be a clear standardization of how to implement it.

Some blockchain-based solutions are being developed to specifically address the KYC compliance process, such as ChainGuard, KYC-Chain and Trunomi.

These solutions use blockchain technology to create a decentralized and secure repository of customer information that can be accessed and verified by multiple parties, while maintaining the privacy and consent of customers.

In summary, while blockchain technology has the potential to facilitate KYC process, it is important to ensure compliance with laws and regulations, and to consider the privacy and security implications of using blockchain for storing personal information.

Major Payments industry Modes in blockchain crypto payments

There are several major blockchain payment solutions currently available, including:

Bitcoin

The first and most well-known cryptocurrency, Bitcoin uses blockchain distributed ledger to enable peer-to-peer transactions without the need for intermediaries as a blockchain payment solution.

Ethereum

A blockchain platform that enables the creation of decentralized applications and smart contracts. It also has its own cryptocurrency, Ether (ETH), which can be used for payments.

Ripple (XRP)

A blockchain-based payment protocol that enables fast, cheap cross-border transactions. It is used by several major financial institutions for international money transfers.

Litecoin (LTC)

A cryptocurrency that is similar to Bitcoin but with faster transaction times and lower fees.

Bitcoin Cash (BCH)

A cryptocurrency that was created as a result of a hard fork of the Bitcoin blockchain. It aims to offer faster and cheaper transactions than Bitcoin as distributed ledger.

Stellar (XLM)

A blockchain-based payment protocol that enables fast, cheap cross-border transactions, especially for those in the emerging markets.

These are some of the most popular and widely used blockchain payment solutions, but there are many other options available as well.

Major Blockchain payment system and payment providers

There are several blockchain payment software projects and payment providers that have been developed to facilitate transactions in trade finance using blockchain payment systems. Some examples include:

BitPay

A payment processor that enables merchants to accept Bitcoin and other cryptocurrencies as blockchain payments.

Coinbase Commerce

A plugin that allows online merchants to accept multiple cryptocurrencies as payment.

OpenBazaar

An open-source, decentralized marketplace that allows users to buy and sell goods and services using cryptocurrencies.

Circle

A blockchain-based payments platform that enables users to send and receive money in any currency, including cryptocurrencies.

Alipay

A blockchain-based payment system developed by Alibaba, which aims to provide fast and secure cross-border payments.

XRP Ledger

An open-source blockchain payment protocol that enables fast, cheap blockchain Payments system using the cryptocurrency XRP.

Stellar

An open-source blockchain payment protocol that enables fast, cheap processing fees transactions using the cryptocurrency XLM.

IBM Blockchain World Wire

A platform that allows financial institutions to make cross-border payments in real time using a stable coin, central bank digital currency or other assets.

These are just a few examples of blockchain payment software projects, and new ones are being developed all the time as the technology continues to evolve. The goal is to enable No money transfer waiting periods or unnecessary third-party processing fees.

Use Cases of Blockchain in Payments industry

Blockchain payment processing has several potential use cases in the payment industry, including:

Cross-border payments

Blockchain-based payment systems can enable fast, cheap blockchain payments system, reducing the need for intermediaries and cutting down on transaction fees.

Remittances

Blockchain payment systems can be used to facilitate remittances, or the sending of money from one country to another, in a more efficient and cost-effective manner.

Digital wallets

Blockchain-based digital wallets can be used to store and manage assets such as cryptocurrencies, making it easy for users to make blockchain payments.

Micropayments

Blockchain payment systems can enable the processing of small payments, which is difficult with traditional payment methods because of their high transaction fees.

Supply Chain Finance

Blockchain can be used to improve transparency and traceability in supply chain finance, by providing a secure and tamper-proof record of all transactions.

Digital Identity

Blockchain can be used to create digital identity, which can be used to make secure and private payments, without revealing personal information.

Loyalty Programs

Blockchain can be used to create decentralized loyalty programs, which allows customers to collect and redeem rewards in a secure and transparent way.

Smart Contracts

Blockchain can be used to create smart contracts, which can automate the process of payments and other transactions on the blockchain network.

These are just some examples of how blockchain can be used in the payment industry, and as the technology continues to evolve, new use cases are likely to emerge.

Major investments in blockchain payment solutions

There has been a significant amount of investment in blockchain payment processing in recent years. Some examples of recent investments include:

In 2020, Visa announced a $40 million investment in a fintech start-up called Anchorage, which aims to provide digital asset custody services for banks and other financial institutions.
In 2019, Mastercard announced a $300 million investment in blockchain to help create new blockchain payment systems.
In 2019, PayPal announced that it was investing in a blockchain-based digital identity platform called Cambridge Blockchain.
In 2018, American Express invested an undisclosed amount in the blockchain-based cross-border payments platform Ripple.
In 2018, Santander invested in the blockchain-based cross-border payments platform Ripple.
In 2018, IBM announced a $200 million investment in the development of its blockchain-based payment platform, IBM Blockchain World Wire.
In 2019, Facebook announced the creation of a new cryptocurrency called Libra and its investment into the Libra Association, a non-profit organization that will govern the cryptocurrency.

These are just a few examples of the recent investments in blockchain payment solutions, and as the technology continues to evolve, more investment is expected in this field.

Investments in blockchain payment solutions in 2021

In 2021, there have been a number of significant investments in blockchain payment processing. Some examples include:

In March 2021, Square, the mobile payments company, invested $170 million in Bitcoin.
In May 2021, Visa announced its partnership with Circle, a blockchain-based payments platform, to launch a new digital dollar stablecoin on the Ethereum blockchain.
In June 2021, PayPal announced it would allow users to buy, hold, and sell cryptocurrency directly from their PayPal account, and also planning to enable cryptocurrency as a funding source for purchases at its 26 million merchants worldwide.
In June 2021, Mastercard announced a new pilot program to enable selected partners to issue their own assets on the Mastercard blockchain.
In July 2021, Visa announced it is partnering with Anchorage, a crypto-native custody platform, to provide crypto custody services to financial institutions.
In August 2021, Goldman Sachs invested $15 million in Circle, a blockchain-based payments platform, to help accelerate the development of Circle’s USD Coin (USDC) stablecoin.
In September 2021, JPMorgan Chase announced it will launch its own digital coin, JPM Coin, to be used for instant settlement of blockchain payments between clients.
In October 2021, American Express announced a strategic partnership with Ripple to enable real-time cross-border payments for customers using Amex’s FX International Payments (FXIP) service for payment processing.

These are just a few examples of recent investments in blockchain payment solutions in 2021, and as the technology continues to evolve, more investment is expected in this field in the future.

What are the payment Solution services provided by blockchain consultants

Blockchain consultants can provide a variety of payment solution services using blockchain technology. Some examples include:

Payment processing

Blockchain consultants can help businesses set up and integrate blockchain-based payment processing that enable fast, secure, and transparent transactions.

Digital wallets

Blockchain consultants can help businesses create and implement digital wallets for customers, which can be used to store and manage digital assets such as cryptocurrencies as well as creating payment solutions for global payments, collecting payment data, designing indigenous payment solution which uses payment details and wallet addesses to receive crypto payments and complete blockchain solutions for creating a payment gateway as a blockchain based payment solution. When using a something like a digital currency bitcoin, debit/credit card data security is important and aly alert should halt payments and chargeback the processing fees in the blockchain payments system.

Cross-border payment

Blockchain consultants can help businesses set up and integrate blockchain-based payment systems that enable fast, cheap cross-border fee, reducing the need for intermediaries and cutting down on transaction fees in fiat currencies.

Smart Contracts

Blockchain consultants can help businesses create smart contracts that automate the process of blockchain payments and other transactions.

Supply Chain Finance

Blockchain consultants can help businesses improve transparency and traceability in supply chain finance, by providing a secure and tamper-proof record of all transactions.

Digital Identity

Blockchain consultants can help businesses create digital identity, which can be used to make secure and private payments, without revealing personal information. Digital identity verification credentials enhance blockchain solutions on the blockchain network, build trade finance and provide better on-chain payment data to reduce the processing fees further on the blockchain payment solution.

Loyalty Programs

Blockchain consultants can help businesses create decentralized loyalty programs, which allows customers to collect and redeem rewards in a secure and transparent way.

Integration with other systems

Blockchain consultants can help businesses integrate blockchain-based payment systems with their existing systems, such as accounting and inventory management software.

Security

Blockchain consultants can help businesses secure their blockchain-based payment systems against potential threats such as hacking and fraud.

These are some examples of the payment solution services provided by blockchain consultants, and the services can vary depending on the specific needs of the business.

FATF and AML guidelines for blockchain

The Financial Action Task Force (FATF) is an inter-governmental organization that sets global standards for anti-money laundering (AML) and countering the financing of terrorism (CFT). The organization has issued guidelines for virtual assets and virtual asset service providers (VASPs) that operate on blockchain technology.

The guidelines, which were first issued in 2019 and updated in June 2021, set out a number of recommendations for VASPs to follow in order to prevent money laundering and terrorism financing. Some of the key recommendations include:

Customer due diligence (CDD)

VASPs are required to conduct CDD on their customers, which includes verifying their identity and monitoring their transactions for suspicious activity.

Record-keeping

VASPs are required to keep records of their customers and their transactions, which can be used to trace funds in the event of suspicious activity.

Reporting

VASPs are required to report suspicious activity to the relevant authorities, and to cooperate with law enforcement agencies in their investigations.

Risk assessment

VASPs must conduct a risk assessment to identify and mitigate the risks of money laundering and terrorist financing.

Travel rule

VASPs are required to obtain, hold, and transmit required originator and beneficiary information along with virtual asset transfer.

Virtual Asset Service Providers (VASPs) should be regulated and supervised by their respective authorities and to comply with relevant laws and regulations.

The FATF guidelines are designed to help VASPs and other businesses operating on blockchain technology to comply with AML and CFT regulations, and to reduce the risk of money laundering and terrorist financing. It is important for businesses to be aware of these guidelines and to take steps to ensure compliance with them.

Legal issues in payments using blockchain payment system

There are several legal issues that can arise when using blockchain technology for payments, including:

Jurisdiction: Blockchain transactions can occur across international borders, making it difficult to determine which jurisdiction’s laws should apply.

Regulation: Blockchain-based payment systems are often subject to different regulations than traditional payment systems, which can raise legal questions about their compliance with laws such as anti-money laundering (AML) and know-your-customer (KYC) regulations.

Taxation: The tax treatment of blockchain-based payments can be unclear, and there may be questions about how transactions involving cryptocurrencies should be taxed. This aspect can impact blockchain payments made from the single euro payments area and for a financial technology company.

Privacy: The use of blockchain payments and crypto payments can raise privacy concerns, as transactions are recorded on a public ledger that anyone can view.

Smart Contracts: The legal validity and enforceability of smart contracts, which are used to automate the process of payments and other financial transactions, may be uncertain.

Security: Blockchain-based payment systems are vulnerable to hacking and other forms of cybercrime, which can raise legal questions about the liability of the parties involved.

Intellectual property: Some blockchain payment solutions may use patented technology, which could raise issues related to intellectual property rights.

Consumer protection: Blockchain-based payment systems may lack the same level of consumer protection as traditional payment systems, which can raise legal concerns.

These are some examples of the legal issues that can arise when using blockchain for payments. It is important for businesses to be aware of these issues and to seek legal advice to ensure compliance with relevant laws and regulations.

At Ruskin Felix Consulting LLC, we provide services in creating customer experience by helping a new reality, new channels with extensive experience and strategies to be built for our clients and many organizations and start ups globally. We help in identifying in new opportunities, understanding future opportunities and focus on innovation. Check out our Services that we provide to our clients.

Some key services that we are RFC provide include:

Blockchain strategy development: Helping organizations identify potential use cases for blockchain technology, and developing a strategy for implementing and integrating blockchain solutions into their operations.
Feasibility assessments: Assessing the feasibility of specific blockchain projects for an organization, and determining the potential benefits and costs associated with implementation.
Implementation and deployment: Providing guidance and support for implementing and deploying blockchain solutions, including selecting appropriate blockchain platforms and technologies.
Smart contract development: Designing and developing smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code.
Legal and regulatory requirements: Advising organizations on legal and regulatory compliance requirements associated with blockchain and cryptocurrencies, and helping them navigate the complex regulatory landscape.
Blockchain training and education: Providing training and education to organizations and their employees on blockchain and its potential uses.
Tokenization and ICO services: Tokenization is the process of creating digital coins or tokens that can be traded on a blockchain network and ICO (Initial Coin Offering) is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin, ethereum, or other cryptocurrencies.
Security services: Helping organizations implement and maintain strong security measures to protect their blockchain systems and assets.

Investor Pitch Deck – The Upside Space

By Ruskin Felix / Blockchain, Business Planning, Client Portfolio, Emerging Technology, Financial Modelling, Industry, Investor Documentation, Strategic Consulting / September 5, 2022

The Upside Space

Ruskin Felix Consulting LLC partnered with The Upside Space, to create an investor pitch deck highlighting the overview, and working of the business, B2B benefits of the company, B2C benefits, and the functioning of the business. The pitch deck also helps in understanding the market trends, operations plan, financial projections, and investor information.

A curator-led online art platform that will integrate businesses into the digital economy through NFT-based assets. They aim to bring a revolution in the NFT space by democratizing NFTs and making them accessible to each individual and enthusiast. The Upside Space wish to integrate Real and digital world worlds through various Mediums and mechanisms. Businesses should be able to garner this resource and provide better quality products to their customers through loyalty programs and loyalty.

Democratizing NFTs – Integrating the Real and digital world by providing global accessibility.
Disruptive Technology – Marrying analog or digital art with disruptive technology
Art Ecosystem – Building a fair, accessible, more transparent & ecosystem in digital space with the highest security level

The key features of the app include:

Curated – They want to offer curators and artists who are new to this space a chance to explore it in the most supportive way possible.
B2B Partnerships – The focus will remain on leveraging B2B partnerships for fashion, apparel brands, and businesses with loyalty-based membership programs
Exclusive NFT Collections – Selective quality collections curated by globally recognized Artists
Democratization Of NFTs – We aim to bridge the gap between analog and digital art by making NFTs accessible to all. Users will be able to buy NFTs from the loyalty points available to them as well.

As per the Projected userbase and projections, The Upside Space will be valued at $287.2 Million. With a 25% range, the valuation on a 5 Year-forward basis is $258 million – $316 Million. Pre-Money Valuation: With a total projected DCF value of $169 Million, The Pre-Money Valuation of the TUS will be $24 Million. The total raise for the project is expected at $7.2 million.

The roadmap of The Upside Space is as follows:

Q1-Q2 2022 – MVP creation and product planning.
Q3 2022 – Official Launch of Portal with the Main exhibition – August Launched in 7 countries.
Q3 2022 – 3 Primary Exhibitions with 4-8 Artists in each Exhibition and Initiate B2B business with generative art.
Q4 2022 – Introduce Institutional Partnership with Music NFTs While organizing 7-8 exhibitions across the Quarter.
2023 – Integrated scaling of operations with Presence in 50 countries.
2024 – Achieving market leader status in Niche and B2B NFT Industry.