Data Certification Is The Blockchain Application of the Future
Blockchain technology will ensure that companies are hiring the right people with the right skills.
Hiring is time-consuming, expensive, and an inefficient method of finding qualified candidates. Hiring based on resumes and interviews no longer validates abilities; instead, it just assesses potential. This is partly why there’s a push for “skills-based” recruiting. Blockchain can help businesses recruit more quickly and access verified, complete, and trusted data that allows them to make the finest hiring decisions. Blockchain solves one of the most pressing issues facing hiring managers while also providing employers a roadmap for future up-skilling and re-skilling in the workforce.
Continuing education opportunities are now widespread. Employers will need to find a method to verify job applicants’ credentials for having completed a course or certificate in the near future. Blockchain would not only alleviate this issue for businesses, but it would also benefit lifelong learners in the workforce and reward educational institutions by allowing them to validate their learning. Blockchain’s transparency and visibility would allow businesses to make good decisions in hiring while also transferring those credentials from the provider to the owner. Employers would no longer have to wait for official transcripts, which eliminates the need for third-party verification and reduces waste. The opportunities opened up by a blockchain-powered micro credential system are not limited to HR departments. Universities that issue their degrees, minors, and certificates on the blockchain will have an advantage in getting their graduates hired in the world’s most unique job market.
While blockchain technology may be new to some businesses, hiring competent individuals and effective teams has long been a standard: and Blockchain is the future of continuous up-skilling and re-skilling in the workplace.
Crypto ‘Altcoin Season’ Returns as Bitcoin Dominance Fades
It seems that the success of altcoins is pushing Bitcoin into a corner. Is this a threat to Bitcoin’s dominance? Or maybe it just means people are looking for alternatives when they want their cash flow to grow without relying on banks as much.
In another “altcoin season”, smaller, lesser-known tokens are outperforming Bitcoin, as the world’s largest digital asset has seen its dominance diminish in recent weeks. Bitcoin’s market share has dropped to around 40% from 65% at the start of 2020. Meanwhile, crypto businesses are reporting a higher demand for small cryptocurrencies from their customers.The crypto industry has exploded in recent years, with a slew of crypto-centric services witnessing success. During the pandemic, new firms were established, non-fungible tokens soared in popularity, and alternative coins rose to prominence as investors sought to diversify away from just the largest digital tokens. Bitcoin and other larger digital currencies have yet to break out significantly this year. The crypto market is rife with technological progress, which has led many investors to seek entry early, something only the digital-asset sector can provide. Investors may participate in the private venture-capital market or be enticed by Ethereum. Alternatively, they could go even lower down the market capitalization and look at some of the new layer-1s that are coming up with new methods to encourage participation, yield distribution, and governance experimentation.
While these smaller cryptocurrencies have the potential for significant profits, they may be more volatile than Bitcoin or other larger tokens. They might suffer substantial losses during market downturns, and Bitcoin’s dominance could rise again.
MGM Grand Tests NFT Ticketing
NFTs are not only a more secure and fraud-proof way to sell tickets but can act as a sort of social token for the added utility between fans and artists.
The latest collaboration between Polygon-based ticketing platform and the traditional entertainment world is NFT tickets. For Las Vegas, where every door appears to need some form of access, NFT tickets make perfect sense. With these tickets, users are given a collectible to a memorable performance, and they enjoy the artwork and how it varies after being scanned. The app has been live for over a year, but the non-fungible ticketing business is still in its infancy. So far, over 100 tickets have been sold for the production, however, these sorts of shows generally see a lot of sales activity towards the end. The application is now in the midst of a Series A funding round. To date, it has received $7 million in seed financing.
Is Crypto Fueling Corruption or Helping Citizens Flee It?
Bad characters are not the driving factor for the higher rates of crypto adoption.
The advent of cryptocurrencies has unleashed a flood of financial innovation that will certainly revolutionize the way money is issued and used, but without regulation, crypto assets might also serve as a means for illicit money to enter the sphere. While there are numerous examples of bad actors using crypto assets to avoid regulation, these people aren’t the primary drivers of increased crypto adoption we’re seeing in nations with a lot of corruption. Cryptocurrencies, by definition, operate outside of the systems that, for instance, may enable corrupt government officials to launder money.
Transparency is frequently regarded as a remedy to corruption, and blockchain technologies may be utilized to enhance transparency and record-keeping in procurement or other payments related to government projects, resulting in increased accountability and reduced opportunity for corruption. The Central Bank Digital Currencies (CBDC) have the potential to provide enhanced resiliency, safety, and availability at a lower expense. However, the efficiency gains of a CBDC are only useful in the absence of corruption. The censorship resistance provided by crypto is critical for someone fleeing a corrupt government as they try to protect their money’s value. Regulators, on the other hand, should not wait for definitive proof before taking action.
While the US explores digital currencies, China’s eYuan is already in 15 cities.
China rolled out its digital yuan to its 15th city this month, while the US has only just started to explore a digital dollar.
The People’s Bank of China announced this month that it will expand the use of its digital yuan to four additional cities. While these moves suggest tighter capital controls, dollar dominance around the world minimizes any potential rise in a Chinese central bank’s digital currency (CBDC). The current payments system is mostly through third-party privately owned firms like Alipay or WeChat pay, however, it may change if usage grows.
The urgency surrounding a possible CBDC in the United States is based on determining whether there is any benefit, not whether America must keep up with China. If the United States developed its own digital currency, it would be significantly distinct from China’s digital yuan. The digital yuan is the latest step in China’s decades-long effort to exert more control over capital flows, but it does not jeopardize the dollar’s global standing. The US government is more trusted not to utilize a digital currency as a tool of control. They are less likely than the Chinese government to attempt to surveil the population using CBDCs.
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