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. …


Alert where the asset is traversing

Not signal to buy

The term Oversold is used whenever an asset such as Bitcoin is being traded at a price lower than its real value and has the potential for a price bounce. The condition of an oversold asset may last for some time so that a price rally is not necessarily expected soon, or it may not happen at all. The opposite term of Oversold is Overbought. Technicians employ different analytic tools to declare whether an asset is within Oversold or Overbought regions. Assumptions can be subjective as analysts base them on various technical indicators whenever deviations are occurring.

Reversals

There is no…


What Is Self-Sovereign Digital Identity?

Identity comprises big data. In many ways, the accumulation and storage of authentic identities for scrutiny by powerful analytical tools and algorithms can produce a host of statistical categories. Identity, whether abstract or detailed, can be sorted by age, race, nation, religious affiliation, health updates, spending habits, money trails, website visits to products and services, and so much more, to the advantageous benefit of big tech and other businesses. It also raises concerns about privacy and security problems.

Identity, e. al

Identity

In the field of psychology, identity refers to personal traits, personality, beliefs, and other attributes. Sociology defines identity…


Is our privacy really protected by going offline and digital?

Back when wallets were then filled with bills and notes that we call cash, now people go around with nary a bunch of that. Instead, it has been replaced with loads of plastics that we call ATM cards — credit cards, debit cards, shopping cards — representing various cashless and anonymous transactions, yet leaving a trail of what, where, when, and how much a person’s transactions went. Data collection became a lot easier with the advent of APIs, with records of an individual’s every financial runabout contained and sorted in many different ways in big data pools that serve as…


How will banks survive with third-party customer interactions?

Customized retail products designed for specific customer needs are what big techs are up to for a seamless user experience. These financial service concepts circle around users so that they may not need to migrate to other platforms or brick-and-mortar services to avail of such needs. Fintech firms act as third parties for moves that Amazon, Google, Uber, Apple, Facebook, Alibaba, and Grab are envisioning. Retail banks, for the most part, are playing reactive by digitizing their processes instead of creating new instruments for a techie future.

Indeed, the financial landscape has become highly competitive for the banking industry given…

Wallex Trust & Custody

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

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