What New York is up to with cryptocurrencies

Decentralizing technologies in blockchain and cryptocurrencies were so disruptive in the global financial systems that no amount of regulation can stop its explosive influence. The Internet-based platforms blasted through walls and borders of regulation without signs of abatement to the wonder of fiat users who would not have even thought of experiencing breakthroughs beyond obsolete processes and mechanisms that bounded the world of finance for ages.

But the governance of money cannot just be let go by authorities and regulators of each country after the limitations of physical cash were finally overcome by the creation of digital cash, virtual money…


One a legit business can’t live without

The development of blockchain technology and smart contracts digitized what has been the traditional financial culture of recording every money movement via receipts such as sales receipts, bank statements, invoices, credit vouchers, and a replacement order. Whatever the case, money movement is documented and recorded in an attestation ledger.

Attestation Ledger

An attestation ledger is no other than an account book purported to provide evidence of transpired transactions. Individual transactions are financial transactions that need to be recorded even by simple accounting.

The general ledger of any company is not the attestation ledger though, but a special ledger tied to a single…


Today’s world is manifesting a revolution in technology that is proving beneficial in the many ways transactions are conducted. Take the case of legacy systems that long dominated control via centralized power. Bitcoin’s introduction of the distributed ledger technology (DLT) in 2008 finally broke the clutches of centralization to make possible the running of effective networks on a worldwide scale. A DLT subset called blockchain bannered how decentralized finance and financial technology companies disrupted, or rather, upgraded the whole financial landscape.

A Closer Look at DLT

The distributed ledger technology is a decentralized digital system enabling direct transactions between parties without the need for intermediaries…


A problem that refuses to go away can become your problem, too.

The digital world we are in today relies heavily on communication and the exchange of information. The faster, the better? Maybe. After the pandemic hit, the Internet became all the more the main means upon which we relay messages from one point to the other in real-time. But information of all sorts also floods the virtual space that it can be easy to get lost and confused as to what is real, authentic, and true information. If that is the case in the current modernities, what more in ages past?

The Byzantine Generals’ Problem in 600 AD prevails to this day

Here is a scenario to better understand the Byzantine Generals’…


What New York is up to with cryptocurrencies

Decentralizing technologies in blockchain and cryptocurrencies were so disruptive in the global financial systems that no amount of regulation can stop its explosive influence. The Internet-based platforms blasted through walls and borders of regulation without signs of abatement to the wonder of fiat users who would not have even thought of experiencing breakthroughs beyond obsolete processes and mechanisms that bounded the world of finance for ages.

But the governance of money cannot just be let go by authorities and regulators of each country after the limitations of physical cash were finally overcome by the creation of digital cash, virtual money…


It’s an uncomplicated lot

Sometimes, trying to understand the words and terms behind blockchain technology is enough to turn away potential users who may only be out to make something out of their hard-earned money. Newly coined phrases not found in the dictionary are terminologies to identify parts of the whole crypto ecosystem that can be as common as can be once you traverse the digital highway. One of those is UTXO.

UTXO?

UTXO simply stands for Unspent Transaction Output. A technical model which is standard to the Bitcoin infrastructure. …


What is a multi-signature wallet?

Since time immemorial, security has been everyone’s concern. From keeping one’s life safe to safeguarding property ownership to wealth protection, security is tops against threats of loss or theft for one’s peace of mind.

In today’s age of digital technology, the conversion of assets from physical to virtual value is increasing with almost anything from paper to real estate being represented via tokenization, beginning with the conversion of fiat money to cryptocurrency.

That said, matters of concern now rest with securing these digital assets, whether personally in a crypto wallet or a custody service. …


They may be interchanged but not the concepts

The rapid advancement of technology that has disrupted much of the processes and mechanisms in the financial systems is still yet to sink in into general consciousness. But as the prevailing pandemic is still nowhere beyond being contained to return the world back to former degrees of default living conditions, the majority of populations abruptly were made to shift to digital lifestyles. What resulted was a cacophony of misused and mistermed words meant to mean many other different things.

And coins and tokens were not spared.

What is What?

Too often, coins and tokens are used interchangeably without batting an eyelash. But the…


Weighing in the tech’s weak links

Blockchain’s silent tornado effect has disrupted not quite a few industries immovably niched for centuries. Sure, the driving force behind a number of coined words such as Bitcoin, DeFi, FinTech, to name a few, signaled the fusion of timeless principles with modern innovations that were only dreamt before. Benefitting first and foremost with this seismic shift in mindsets, processes, and mechanisms was the global financial system whereupon lies the lifeblood of each of nations’ economies.

Blockchain Itself

The invention of blockchain redefines the many ways transactions are conducted, values are stored, sums of money are exchanged, and currencies are created. Simply put…


A public and private key asymmetry

In Internet communications, there is a need to manage identity and security for every user. It is called Public Key Infrastructure, or PKI. And what enables PKI to function is its core technology known as Public Key Cryptography or PKC. It is an asymmetric cryptography framework that utilizes private and public key pairs as a solution to modern computer security challenges in the ever-expanding cryptocurrency ecosystem. Also known as asymmetric cryptography, the two related keys are used in combination to encrypt or decrypt messages. …

Wallex Trust & Custody

WallexTrust is a technology-driven financial trust service providing financial solutions for the new digital economy.

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