Cryptocurrencies are rising in popularity, and it’s time that you consider the benefits of investing in this asset. Market Insider writes that there were already 106 million cryptocurrency traders in January. And though cryptocurrencies are mainly associated with millennials, there’s a growing number of investors over the age of 55. These digital tokens have been a hot topic lately, especially following the price increases of Bitcoin and Ethereum. But besides the potential ROI, there are plenty of other reasons why it’s worth investing in cryptocurrencies.
More industries are adopting blockchain technology
Blockchain technology is the backbone of cryptocurrencies, like Bitcoin and Litecoin. This is because it serves as the digital ledger where crypto transactions are permanently recorded. Recently, it was found that blockchain can be used to record information outside of crypto transactions. Now, according to tech writer Daniel Ling, both businesses and consumers are using the blockchain to track and manage their transactions. Thus, financial institutions, real estate companies, and even utility companies have started using the blockchain for its transparency and convenience. Big organizations all over the world, like Tesla and IBM, are already adopting blockchain technology. So you’re investing in currencies that well-known companies use and trust.
It’s great for diversifying your investments
Cryptocurrencies are popular among the youth since they are a great way to boost your investment portfolio. Bitcoin, Ethereum, and other cryptocurrencies currently offer promising returns. However, Onramp Invest CEO Tyrone Ross emphasizes that you need to have a financial plan before investing. This way, you can balance the volatility of your assets and get better chances of earning profit. Moreover, financial experts suggest that higher allocations of cryptocurrencies are better for individuals who have longer time horizons since it can help younger individuals work their way towards financial independence.
You have complete control over your assets
Cryptocurrencies have revolutionized transactions by eliminating middlemen. So you have complete power over your profits. Cryptocurrency expert Carol Alexander states that cryptocurrencies are reinventing finance by giving the control to investors. For example, artists and musicians are already using the nonfungible tokens (NFTs) provided on Ethereum and other public blockchains to sell to the public without going through record labels, banks, and lawyers. Similarly, you can invest in or transact with cryptocurrencies without going through authorities and other financial institutions.
The crypto investment process is fast and secure
Traditionally, you have to go to a brokerage firm and pay service charges to be able to invest in any asset. Bitcoin and other cryptocurrencies have made investments easy because you can trade and manage assets through different options. For instance, our article on “The Easy Way to Buy Bitcoin” recommends the use of P2P exchanges when purchasing assets since it is a fast, reliable, and affordable way of transferring funds. Platforms like Paxful and Coinffeine have a security system so that you can avoid any fraudulent exchanges. Furthermore, you’re dealing with fellow traders on these platforms, which is why you can choose fast and convenient options for your payment. You can use bank transfers, credit card payments, and even PayPal to own your chosen cryptocurrency.
These digital assets offer security, control, and convenience, which is why many organizations and individuals are investing in them. Given the power and the support that cryptocurrencies get, these digital tokens will be here to stay.
Everyone knows that Dogecoin started as a joke, but surprisingly it is getting a lot of traction these days. Many people argue whether it will be the next big thing in crypto or die young. In this article, we’ll learn about some of the most interesting and unexpected facts about this amusing crypto. Enjoy your read!
1. Dogecoin’s Creator Sold All His Doge
Billy Markus mentioned on Twitter that he’s no longer a part of the Doge Project and that he sold all the crypto he had in 2015 after getting laid off.
guys, i sold all my doge in 2015 after getting laid off and freaking out about money. in total i made about enough to buy a used honda civic.
i left the project over 7 years ago due to harassment from the community, and now i'm being harassed again. please consider this.
Billy Markus tweeted this when a user asked him how to make the coin more efficient. He said that he made Dogecoin in 2 hours and didn’t consider anything.
3. All-Time High Price and Market Cap
The highest price that Dogecoin has ever had is $0.74. The coin reached that point on May 8, 2021. It hit its all-time high market cap on that day too: $93 B.
P.S. At the time of writing, the market cap of Dogecoin is 43B which is almost as much as Ebay’s.
4. The Dog on Dogecoins Logo Is Shiba Inu
Shiba is a hunting dog breed. Interesting is that after the release of Dogecoin, different coins with dogs were launched. One of these dog-based meme coins is Corgi Token based on the popular Corgi breed of dogs. This coin is a “decentralized community-based cryptocurrency” on the Ethereum blockchain.
5. The Dogecoin Community
Among all the cryptocurrencies Dogecoin has one of the biggest communities. Members of this community truly believe in the bright future of Dogecoin and it isn’t surprising that the slogan of shibas is “To the Moon!”. They provide huge support to make their favorite crypto more popular.
For instance, in 2014 the community raised $55,000 for NASCAR driver Josh Wise where in return he covered his entire car with Dogecoin and Reddit alien images.
6. Dogecoin on Social Media
Platforms like Reddit and Twitter showed a huge interest in this cryptocurrency from the very beginning and promoted Dogecoin a lot leading it to success. Recently, TikTok joined the team of platforms interested in Dogecoin. For example, in the summer of 2020 TikTok introduced a Dogecoin challenge to encourage people to invest in this cryptocurrency. The TikTok trend #DogecoinTikTokChallenge went viral. A user posted a 10-second video calling on 800 million users to invest $25 into dogecoin to make the coin’s price $1. His video now has 800K views and the trading volume for Dogecoin increased by 2000%.
7. Celebrities Who Love Doge
Dogecoin gained popularity and has many fans among celebrities. Sure the very first person who comes to mind is Elon Musk, who even got the nickname “The Dogefather”.
The founders of Dogecoin made it as a joke, and they wanted to generate as many Dogecoin units as possible. So they made the DOGE supply unlimited.
Currently, the circulating supply is 129 billion Dogecoins, which is higher than the volume of other cryptocurrencies like Bitcoin or Ethereum.
9. Mining Process
The Dogecoin mining process is very fast. The block rate is one block per minute; this provides an excellent opportunity for miners to mine more blocks and earn as many block rewards as possible. The Block reward is 10,000 DOGE. Approximately 14.4 million new Dogecoins are mined every day; therefore, 5.2 billion Dogecoins per year. During the first year of its existence, 100 billion coins were mined. Also, transaction fees within the Dogecoin network are about 1 DOGE per transaction.
10. SpaceX Accepts Dogecoin as a Payment to Launch a Mission to the Moon in 2022
On May 9, 2021 Elon Musk’s SpaceX and Canada’s Geometric Energy Corporation announced their cooperation for a lunar mission called DOGE-1. They are planning to send the mission to the moon in Q1 2022 which will be fully funded by Dogecoin.
SpaceX launching satellite Doge-1 to the moon next year
– Mission paid for in Doge – 1st crypto in space – 1st meme in space
It will be the first mission ever completely paid for by Doge.
As mentioned previously, Elon Musk is a big fan of Doge and after this announcement, he tweeted “To the mooooonnn!!” which is the slogan of this crypto (so he is trying to turn it into reality :D)
DOGE-1 will go on board with the SpaceX Falcon 9 rocket, which usually costs about $62 million to book, or about 188 million Dogecoins (at the time of writing the cryptocurrency’s price is $0.33).
Well, these were some of the most interesting facts about Dogecoin that every crypto enthusiast should know. We hope this article was informative and full of discoveries, and that it motivated you to dig deeper and find out more about this exciting cryptocurrency. Go ahead and start your amazing Dogecoin journey!
At Nooor Blockchain Armenia, we refer to blockchain applications in various industries from time to time. Those industries vary from fashion to healthcare, from education to aviation, and from real estate to HORECA. Today, our topic is something no human can live without, any substance consumed to provide nutritional support for an organism (according to Wikipedia :D).
What blockchain has to do with the food industry? What challenges might it help to overcome? Will its use cases get more overtime, or the impact it might have is not that significant?
Today we will find out the answers to these questions. But first of all, let’s have a look at what the food industry looks like right now and what challenges it might be facing.
The food value chain is an $8.1 trillion industry, and food safety is one of its major problems worldwide. Because of those problems, businesses are exposed to potential legal and reputational risks. Moreover, those risks cost them billions of dollars. Consumers are exposed to serious health threats, including food contamination, allergies, and even death. Governments lack control levers in case of a disease breakout.
The estimated cost of food safety problems in lower and middle-income countries is $110 billion each year. This includes loss of economic activity due to the inability to work or medical expenses and death. The pattern is $56 – $93 billion a year for the US. It is reported that more than 200 diseases occur as a result of unsafe food containing harmful bacteria, viruses, or chemical substances. Moreover, 600 million people get sick after eating infected food, and 420 000 die every year.
So What Can Blockchain Do in the Food Industry?
Blockchain can potentially change the food production process, food processing, and other aspects, but today let’s focus on the area where the major changes occur – the Food Supply Chain.
Smart contracts can reduce the number of intermediaries in the supply chain network. This can reduce transaction costs, increase productivity, and as a result, bring much profit to the farmer and producer. Moreover, reduced human interference will shrink the trust gap between producer and consumer.
On average, every food product travels over 40,000 miles, which further exacerbates the vulnerabilities resulting from the lack of traceability and visibility. Since blockchain brings everyone from farmers to retailers to one platform, all the participants can access the necessary information. For instance, everyone can know when and where the milk was produced, what kind of greens did the cows consume, when the milk got to the factory, etc.
In case of an outbreak of food-borne disease, it can take weeks to find its origin. In 2017 an outbreak of salmonella found in papaya caused a great sales decrease of the product. Its retail sales fell from $96 million in 2016 to $88 million in 2017, affecting both food suppliers and farmers. It took more than two weeks to track the source of contaminated papayas, whereas, with integrated blockchain, it can be done almost instantly. According to IBM, 2.2 seconds precisely.
In 2016 Interpol detected over 11,000 tons of either counterfeit or low-quality food in 57 countries. Items can be tokenized and verified on the blockchain. As a result, product counterfeiting will be reduced or eliminated in this relatively inexpensive process.
As mentioned above, finding the source of a food-borne disease may take weeks. And better traceability can help save lives since it allows companies to act faster.
So one of the retail market giants – Walmart, decided to test a decentralized food supply ecosystem on Hyperledger Fabric. Walmart, together with IBM, ran two proof of principle projects to test the system. 1st one was about tracing mangos sold in the US stores of Walmart, and the other aimed to trace pork sold in its China stores.
The Hyperledger Fabric blockchain-based system worked for the two products. For pork in China, it allowed uploading certificates of authenticity to the blockchain. It brought more trust to a system where it used to be a serious issue. And for mangoes in the US, the time needed to trace their source went from 7 days to only 2.2 seconds!
Walmart now traces the origin of over 25 products from 5 different suppliers using a system powered by Hyperledger Fabric. The company plans to add more products and categories to the system soon. In fact, it has announced that it will require all of its suppliers of fresh leafy greens (like salad and spinach) to trace their products using the system.
Nestle has announced about expanding its use of blockchain technology, with IBM Food Trust Blockchain for the company’s luxury coffee brand Zoégas.
With the help of blockchain-recorded data, coffee buyers will now be able to trace their coffee back to its origins. Consumers can scan with their mobile phones the QR code on the packaging and follow the coffee journey from the growing locations to the Zoégas factory in Helsingborg, where the beans are roasted, grounded, and packed.
Besides, the data includes information about farmers, time of harvest, transaction certificate for the specific shipments, as well as the roasting period. Isn’t it amazing to be able to see all the paths your coffee has passed before getting to you?!
As for olive oil, the opportunities the platform provides are very similar. Now, they can track, trace, and store data in the supply chain of olive oil. Consumers can access all the information through the scan of the QR code on the bottle.
Producers, on the other hand, can use the platform to easily share information with permissioned parties. The data can help reduce food waste by keeping track of its freshness and storage.
Through a consumer traceability app, the company anticipated the growing demand, which rose by 30% during the pandemic.
Blockchain is also used for tracking food for our four-legged friends. The authors of Marleybones wanted to know what was going into their own dog’s food. So they cooperated with Provenance to bring this idea to life. With Provenance software, businesses can easily gather and present information about products and their supply chains. They mapped out their supplier network, showing the flow of ingredients from farm to bowl.
They selected the relevant Proof Points to back up sustainability and brand values claims. These are shown at key stages of their supply chain through a Product Journey, which can be found on the product pages of their site and accessed by scanning a QR on their packaging.
You can see an example with their ‘Pooch Posh Nosh Chicken‘. The transparency again builds trust between the retailer and consumer.
The significance of blockchain technology in the food industry grows rapidly, so here are some figures for what is awaiting us in the near future. It is estimated that better traceability will boost the international food trade by over $100 million per year.
According to Gartner Inc., 20% of the top 10 global grocers by revenue will use blockchain by 2025 for food safety and traceability. That is to create visibility to production, quality, and freshness.
As we saw, IoT & blockchain platforms can increase trust, transparency, and coordination throughout the food supply chain. This will potentially save $155 billion per year.
To Wrap It Up
Nowadays, the global food industry is facing many challenges, mainly concerning food safety. This is a serious problem because it not only threatens people’s lives but also harms businesses financially. Luckily we have blockchain technology to help us out. The technology can be implemented in food production, processing, supply chain, and global trade. With blockchain solutions, the food industry will save time, finances, have a transparent supply chain, improve food traceability, reduce food fraud, and build consumer trust. Besides, very soon, a significant part of the industry will work on blockchain.
Thanks to the game-changer companies providing blockchain-based solutions for the food supply chains, the food industry is booming. Such companies are IBM Food Trust platform, Hyperledger, Provenance, Carrefour Food Trust, Bytable, and others.
I hope you found useful information and interesting insights in this blog post.
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The world develops at a very fast pace. Technology does too. We are sure you’ve heard a lot about blockchain recently. But what is all that buzz about? Does blockchain really have any good to do to the world? Or is it just a hype that will pass some time later? Should you start investigating that field or not? Should you start learning blockchain?
The short answer will be: no, blockchain is not just hypeand is totally worth learning. To know more, continue reading this post about why blockchain should be your next skill to develop and what are its main advanced features that can be of help to the world.
But before we get to why blockchain deserves your attention, let’s see shortly what blockchain is.
Blockchain is a shared, trusted, public ledger of transactions available to everyone but not controlled by any single identity. The consecutive string of every block ever executed makes up a blockchain. It is a distributed database of chronologically ordered transactions. You can take a look at our Blockchain Glossary for a more thorough explanation.
Now that we know a little more about blockchain let’s get to this article’s main topic!
1. Job opportunities and high salary
Undoubtedly, blockchain has brought a number of new professions to the job market that have become the most demanded ones. In fact, blockchain was announced by LinkedIn as the most in-demand skill of 2020. Some examples of such professions are back-end blockchain developers, smart contract engineers, dApp developers, cryptocurrency analysts, traders, mining technicians, etc.
Since 2017, these occupations’ salaries have risen significantly, and now the annual average is $70K for entry-level to $175K for more experienced professionals. Though it might seem scary to shift your career to the blockchain, it requires very little time and effort in reality. Specialized courses will help you with the process, no matter if you are a beginner or a more experienced specialist. You can learn more about how software developers, particularly, enter the blockchain industry with this article.
2. One of the core technologies of the future
As of 2018, only 0.5% of the world was using blockchain technology. However, it is estimated that in 2024 blockchain will gain mass adoption. Moreover, the blockchain market is expected to climb to over 39 billion U.S. dollars in size by 2025, according to Statista. It is one of the most cutting edge technologies nowadays. Thus if you want to not fall behind the world, you better start learning blockchain already today. Furthermore, as the quote says, “The early bird gets the worm.” The early adopters of the technology will have significant advantages when the rest of the world starts using blockchain.
3. Smarter cryptocurrency investments
The most widespread use cases of blockchain are indeed cryptocurrencies. If you are interested in crypto investments, you have to know the principles of blockchain and DLTs to make better and smarter investments. Moreover, that knowledge will help you better understand the ICOs and master the rules of the crypto world.
4. Blockchain’s impact on other industries
There is a false assumption that blockchain can be used only in the finance sector. Of course, it can bring many advantages to finance and banking; however, other industries can benefit from blockchain as well. Those industries range from real estate to healthcare, from fashion to food, from education to Horeca, and more. Many big companies have already started using blockchain, such as Carrefour, Nestle, Walmart, IBM, Amazon, etc.. Furthermore, blockchain absolutely disrupts the supply chain by making everything faster, lessening the possibilities of fraud, and saving finances by removing intermediaries. So if you think that blockchain won’t get to your industry, we can prove you wrong.
Now let’s have a look at the advanced features of the underlying technology that is totally worth everyone’s attention and can be the solutions to the present-day issues of the world. Below we will introduce a couple of them.
5. Digital identity and Cybersecurity
It’s a well-known fact that a lot of our information is available online and can easily be a matter of hacking and fraud. With blockchain, all the information is fully secured with a strict cryptographic system, which is impossible to hack. And the owner of the data has control over who can get access to it. Moreover, the user’s identity will always stay anonymous. Blockchain enables more secure storage and management of our digital identities by providing an interoperable, tamper-proof, and unified infrastructure.
6. Integration with other systems
Another significant advantage of blockchain is that it offers a universal infrastructure that can be integrated with any technology and system, regardless of whether it is old or new. Besides, the whole concept of blockchain and the DLT system works amazingly with the Internet-of-things (IoT). And very soon, we will witness the remarkable influence of blockchain, AI, and IoTs on our everyday lives.
One thing is certain. In several years blockchain is going to disrupt many industries. In order to go with the development of the world, you would rather start learning it today both for professional and personal purposes. If you don’t know where to start, Nooor is here to help you. Take a look at the courses we provide to beginners and more experienced specialists. If you prefer self-learning, take a look at our Blockchain Glossary with the easy explanations of blockchain terms and Nooor’s quizzes to check your knowledge. Have fun!
The number of cryptocurrency users is growing as fast as greased lightning, and celebrities occupy a prominent place among them. More and more stars are shifting to the decentralized world which surely deserves praise. Today we have prepared this blog post for you about 5 celebrities you won’t believe are into crypto. So let’s not wait any more, and jump into the most interesting part!
1. Mel B
Do you know who is one of the first artists to accept Bitcoin as payment for their songs and performances? The original Scary Spice from the pop band Spice Girls, aka Melanie Brown, aka Mel B!
She sold her 2013-2014 Christmas single “For Once In My Life” directly from her website in exchange for Bitcoin through a partnership with CloudHashing. Cloudhashing is one of the biggest companies in the industry which offers bitcoin-mining contracts.
“I love how the new technologies make our lives easier, and to me that’s exciting,” said the artist. She also added that Bitcoin unites her fans all over the world with just one currency.
Earlier this year the 47-year-old artist Akon shared a tweet telling about the finalization of the agreement for AKON CITY. Akon initially announced plans for the futuristic “Crypto city” in 2018 to be built on a 2,000-acre land gifted to him in 2018 by Senegal’s President – Macky Sall. After the city construction, the community will trade using only the Akoin – a Stellar-based cryptocurrency the singer will launch later this year.
As Akon claimed, the city is going to be mainly focusing on solar energy, with the transactions fully based on crypto.“It’s a 10-year building block so we’re doing it in stages. We started construction in March and stage two is going to be in 2025”, Akon said in an interview with Power 106 Los Angeles.
Estimates put the value of constructing the self-sufficient, eco-friendly city at around $2 billion.
According to Akon, blockchain and crypto will save Africa, return the power to the public and make them independent from the government.
As regards to Akoin, it will be available in all 54 African countries, according to its website.
The Akoin ecosystem is intended to be not just a currency, but also a way to establish credit, borrow money, access government services, and more. Akoin whitepaper went live in March this year.
3. Katy Perry
The well-known singer and currently the third most-followed person on Twitter Katy Perry has shown her support towards crypto in 2018 by posting an image of her crypto-themed manicure on Instagram. Her nails were decorated with 3D images of five cryptocurrencies (Bitcoin, Ethereum, Litecoin, Stellar, and Monero) over a background of US dollar bills.
With the caption: “$—CrYpTo ClAwS—$”, the singer also tagged the Instagram accounts of all five cryptocurrencies to show her support for the blockchain. Overall it gained more than 200,000 likes.
Moreover, in November 2017 Perry shared another post on Instagram with American investor Warren Buffett saying: “nbd just asking Warren Buffett his thoughts on cryptocurrency”.
4. 50 Cent
Famous rapper Curtis Jackson aka 50 Cent, was a bitcoin millionaire for years and found out about that only at the beginning of 2018.
In 2014 he sold his album “Animal Ambition” for a fraction of a single bitcoin and earned about 700 bitcoins – worth nearly $662 each at that time, and about $400,000 in total. Apparently, he forgot about them afterwards. In 2018 they were worth more than $7 mln and nearly $6.8 mln now.
“Not Bad for a kid from the South Side, I’m so proud of me”, 50 Cent wrote in an Instagram post, but later deleted.
5. Nasir “Nas” Jones
American rapper Nas is also a venture capitalist. In 2014 QueensBridge Venture Partners was launched, when the firm invested in Bitfury Group as part of a $20 million Series A investment round. The track record of the QBVP investing in blockchain and crypto projects also includes BlockCypher, Coinbase, and Robinhood.
Nas also told in an interview with Coindesk in 2014 that he was an investor in Coinbase. “Bitcoin will evolve into an industry as big, if not bigger, than the Internet. This isn’t of the Internet age, bitcoin is its own age,” Nas explained. The rap star added that many obstacles will occur from the security and privacy side, yet 20 years ago the internet was in the same condition.
Unbelievable, right? Now you know a little more about your favorite singers and their involvement in the blockchain industry. You see the more we explore the world of crypto the more we see people choosing it as it is more convenient, more secure and provides lots of benefits. You can become a part of this emerging world already today. So don’t lose your time and start investigating the blockchain and crypto space!