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      "memo": "By spending just 5-10 minutes of your time to answer an ONLINE SURVEY, you'll receive $1 worth of HIVE or STEEM (4.762 STEEM or 3.125 HIVE) as a token of our appreciation!!! Hello there! I'm Sichen DONG, a research postgraduate student at the University of Hong Kong. I'm currently organizing a paid survey as part of my research study. We kindly invite Steem/Hive members to participate in a survey that focuses on the social changes you've observed since the takeover of Steemit, Inc. by Tron on February 14, 2020. We're delving into the intriguing realm of decentralized autonomous organizations (DAOs) and exploring the impact of social norms on cooperation within these communities. Please note that the survey is conducted in English. Rest assured, your participation involves no more risk than your everyday activities. You retain the freedom to withdraw from the study at any point. Your support is invaluable to our research, and we're eagerly looking forward to your participation! Ready to dive in? Access the survey via this link: https://hivesurvey.vercel.app/",
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      "memo": "Hi ! I've been a core developer on hive for three years now, working on features that are now powering the chain and improving user experience like RC delegations or recurrent transfers and currently wrapping up some features that will go live in hard fork 27. I'm also hosting the monthly core dev meeting. I would like to carry on working for hive for a fourth year. I am looking for support on my renewed proposal as the current one will expire soon. It's the same deal as the last one. Could you review it and maybe vote on it if it's worth your support ? https://peakd.com/me/proposals/261 Thanks a lot !",
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      "memo": "Hi, I have been working for the past two years as a core developer on hive. I worked on a lot of things last year some which went live in hard fork 25 already or will go live soon with hard fork 26. To name a few, RC delegations, recurrent transfers or communities V2. I would love to continue working on hive for a third year on the next hard fork, communities and everything else. I am looking for support on my renewed proposal as the current one will expire soon. Could you review it and maybe vote on it if it's worth your support ? https://peakd.com/me/proposals/214 Thanks a lot !",
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      "body": "<p>One of my intentions with this blog is to share a&nbsp;<em>realistically optimist</em>&nbsp;point of view on our world and society.</p>\n<p>Many of us are drawn into a very pessimistic feeling about where we are heading as humanity: with new climate change challenges, continued wars and poverty, the rise of extremism, loss of social cohesion…</p>\n<p class=\"has-normal-font-size\">We feel like our civilization is on a downtrend, heading to chaos and that it was all better before... <em>But this can not be further from true !</em></p>\n<p class=\"has-medium-font-size\">When we look at the data, we have never been better than we are today. We live longer, healthier, safer, wealthier…and&nbsp;even happier it seems!&nbsp;And according to researches, this is not only true in the Western world,&nbsp;<em>it's a GLOBAL TREND.</em></p>\n<p class=\"has-small-font-size\"><em>(And yes I hear all those who argue that the ways we measure this trend are questionable but please hold that judgment,&nbsp;just for now, ^^ thanks )</em></p>\n<p>One would think that the 1st to blame for this pessimism is&nbsp;our news and media industry, right?</p>\n<p>Well, I recently learned that<em> it's also rooted in our psychology as human beings.</em> <em>I can't wait to tell you more about the reasons in <a href=\"https://nadsnotes.com/humanities/how-do-we-react-to-news/\">another article</a></em> :D</p>\n<p>But let's first stay focused on our world today.</p>\n<p>Maybe you heard about <a href=\"https://stevenpinker.com/biocv\">Steven Pinker</a>? He just wrote a second book showcasing all the data that prove we are living in the best era of all times and putting together the pieces of work&nbsp;done by scientists and researchers from around the world&nbsp;to&nbsp;remind us of the values of Enlightenment: those of&nbsp;<em>Reason, Science, Humanism, and Progress</em><strong>.</strong>&nbsp;The name of the book is <a href=\"https://www.amazon.com/Enlightenment-Now-Science-Humanism-Progress/dp/0525427570\">Enlightenment now</a>.</p>\n<h2>What is Enlightenment?</h2>\n<p>It is the name of an intellectual and philosophical movement in Europe during the 18th century. It is referred to as the&nbsp;<strong>Age of Reason</strong>&nbsp;or&nbsp;<strong>Century of Lights.</strong></p>\n<p>Back in the 18th century, Immanuel Kant, one of the major Enlightenment thinkers, defines enlightenment as:</p>\n<blockquote class=\"wp-block-quote\"><p><em>''Humankind's emergence from its self-incurred immaturity\", its ''lazy and cowardly'' submission to the ''dogmas and formulas'' of religious or political authority.</em></p>\n</blockquote>\n<p>Enlightenment's moto is&nbsp;<em><strong>''Dare to understand''</strong></em>&nbsp;and&nbsp;<strong>its foundational demand is freedom of thought and speech.</strong></p>\n<h3>Funny how this is still needed today...</h3>\n<p>But we must understand that it's our human nature that brings us back to the same old schemes.</p>\n<blockquote class=\"wp-block-quote\"><p>Not our evolution, not our modern conditions,&nbsp;it's our laziness and fear&nbsp;that will always enslave us to ignorance and suffering.</p>\n</blockquote>\n<p>We are victims of ourselves, no matter the time we are living in.</p>\n<p class=\"has-medium-font-size\">We are our own enemies and this I believe this is very good news! Because when we know our enemy, we can more easily defeat him, right? ;)</p>\n<p>Honestly, I was myself very pessimist about our world and future, and I remember I used to proudly think that I was just being realistic about it. I was one of those who believed that the challenges that we are facing are impossible to tackle because we are living in this individualistic, personal-interests oriented and money-driven society. I used to believe that our decline was inevitable and it was better to just accept it and try to make the most of my life and enjoy it as long as I can.</p>\n<p><em>But these beliefs contributed eventually to my own depression.</em></p>\n<p>How could one live happily with this consciously chosen despair and sense of fatality? What's the purpose of living if you are convinced that not only everything is getting worse but there is no solution to make it better or even stop it from getting worse.</p>\n<p>Then one day I realized that I was not only hurting myself with this ''realistically pessimist'' mindset, but I was also passively contributing to the said ''decline'' of our society.</p>\n<p>I was just accepting to lose a ''game'' without even ''playing''. </p>\n<p>And I like to choose this childish image of playing a game against our today challenges.&nbsp;<em>Why the hustle and violence of fighting against something we created ourselves and that contributed to our achieved progress?</em></p>\n<p>We just need to find new solutions to new problems incurred by our path of progress. So I changed my mindset and started looking for optimistic news.</p>\n<p class=\"has-medium-font-size\">And I was incredibly happy and surprised to find that our world is full of positive and smart people, doing what they love and finding innovative solutions to ''save the world'' and save people.</p>\n<p>Now I leave you with this definition of optimism according to the famous physicist David Deutsch from his wonderful book, The beginning of Infinity:</p>\n<blockquote class=\"wp-block-quote\"><p><em><strong>'' Optimism is the theory that all failures -all evils- are due to insufficient knowledge… Problems are inevitable, because our knowledge will always be infinitely far from complete. Some problems are hard, but it is a mistake to confuse hard problems with problems unlikely to be solved. Problems are soluble, and each particular evil is a problem that can be solved. An optimistic civilization is open and not afraid to innovate, and is based on traditions of criticism. Its institutions keep improving, and the most important knowledge that they embody is knowledge of how to detect and eliminate errors.''</strong></em></p>\n</blockquote>\n<p>Optimistically yours,</p>\n<p>Nad</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2018/05/09/optimism/ </em><hr/></center>",
      "title": "Choosing Optimism",
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      "body": "<p>In short, FinTech is the contraction of Financial and Technology. It's an umbrella term describing everything related to technologies serving financial services, from technology bricks to products, services, and companies. </p>\n<p>While Technology has always been <a href=\"https://www.nytimes.com/2016/04/07/business/dealbook/the-evolution-of-fintech.html\">part of financial services and operations</a>, the term has seen a surprising increase of attention at the end of 2013.</p>\n<img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-19-at-11.35.12-AM-1.png?fit=800%2C234&amp;ssl=1\" alt=\"\" class=\"wp-image-268\"/><br/><i>Google Trends for search word \"FinTech\"</i>\n<p class=\"has-small-font-size\">I have my personal explanation (guess) about the time of this surge and I'm curious to hear about yours so drop a message in my inbox if you want to share views on this ^^ </p>\n<p style=\"font-size:26px\">FinTech ranges from traditional financial companies using new technologies, to totally new financial services offered by FinTech startups. </p>\n<p>Extrapolating on this range of FinTech, it is useful to observe 2 broad categories of actors: </p>\n<ol><li>Tech companies providing financial services</li><li>Financial companies integrating technologies into their services</li></ol>\n<p>But the line between these actors is far from net. And it's one of the reasons why regulation has a major role in shaping the FinTech space and the future of financial services.</p>\n<p>It seems obvious especially in the light of the recent financial and economic crisis that the financial sector is undergoing major transformations, which are at the root of the emergence of FinTech, for two main reasons:</p>\n<ol><li>The cost of operations is too high and is considerably reduced by the use of new technologies</li><li>Increased regulation and compliance requirements in post-2008 called upon inevitable transformation</li></ol>\n<blockquote class=\"wp-block-quote\"><p>To the extent that regulation played a role in the [big] banks' reluctance to re-enter the small-business market once the crisis had subsided, our findings reinforce the view that one of the consequences of heightened bank regulation may be to drive activity to the less-regulated, nonbank sector.</p><cite>Chen et Al (2017), The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets</cite>\n</blockquote>\n<p>I will elaborate further on the reasons and goals of the emergence of FinTech, but first let's take a closer look at what is considered FinTech through some examples:</p>\n<h4>Digital Banking</h4>\n<p>FinTech is a major part of Mobile and Web banking services. It is integral to the shift from traditional to digital banking and it represents the means by which banks have undertaken the <a href=\"https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/\">digitization</a> of their services to meet customers' new digital needs.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-11.15.08-AM.png?fit=800%2C373&amp;ssl=1\" alt=\"\" class=\"wp-image-271\"/><br/><i>Remote Cheque Deposit with <a href=\"https://www.qnb.com/sites/qnb/qnbqatar/page/en/enremotechequedeposit.html#\">QNB Mobile banking</a></i>\n<h4>Lending and Personal Finance</h4>\n<p>Digital technologies and platforms allowed the emergence of FinTech companies offering financial services traditionally offered by banks. Such is the case with <a href=\"https://www.lendingclub.com/\">LendingClub</a> which offers peer-to-peer lending, and <a href=\"https://www.kabbage.com/\">Kabbage</a> which offers <em>automated</em>-lending for small business loans.</p>\n<p>These new FinTech platforms offer innovative ways of credit scoring that allow faster application and process times. Besides reducing loan application and processing time from weeks to instants, this allows them to access business segments that are unaccessible for banks.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-12.45.31-PM.png?fit=800%2C388&amp;ssl=1\" alt=\"\" class=\"wp-image-279\" width=\"693\" height=\"335\"/><br/><i>Screenshot from  <a href=\"https://www.business.org/finance/loans/best-small-business-loans/\">11 Best Small Business Loans of 2020</a></i></center>\n\n<ul><li><a href=\"https://www.kabbage.com/\">Kabbage</a> is an online FinTech company providing funding directly to small businesses and consumers through an automated lending platform. It leverages its capabilities of loan assessment through integration with business IT and data analysis (shipping &amp; accounting data). </li><li><a href=\"https://www.bluevine.com/\">BlueVine</a> , similar to Kabbage, also offers invoice financing where invoices act as collateral for a loan.</li><li><a href=\"http://lendingclub.com\">LendingClub</a> started as a Facebook app in  2007 and moved out to compete with other peer-to-peer lending platforms such as <a href=\"https://www.prosper.com/?__cf_chl_jschl_tk__=beb1a8252e4b72a6d1a556ab6650ef37d9dae333-1587374302-0-AT5HpoQg19gh6ug8EKNasjoWNWIUvyA-bHKiBgxK3Ayyzzno6C3i4Wfm-ojPu9_WX07tuF7fuEvMFmF6r8b1O4TJd72BUHpdwPOu13qmDoOSJPq4u574du77CHNiRHa0aH8VHuwK7SZXNGYBoxcq37hybymnSG3ExqC9Gb31sYW2RlcNN_RZ5c71axUQdz3nITyQxvZCZYnQnmQnGP2YED4T0cjxglMBP6ExCj4qoHVex6R7kj0x0olmse2ZbzTnFPEkkBFvf2i5rOomqr-ZKhGpmd9u4esx-UZxWMgheYJ4pCP3aNCGi4jvdGTJ2T4BZbRd-PTSdgeCqrugO_ZufUU\">Prosper</a> and <a href=\"https://www.zopa.com/?utm_campaign=AFFwiseclerkdotcom&amp;utm_medium=partner&amp;utm_source=AFFwiseclerkdotcom\">Zopa</a>.</li></ul>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-11.56.27-AM.png?fit=800%2C489&amp;ssl=1\" alt=\"\" class=\"wp-image-278\" width=\"570\" height=\"348\"/></center>\n\n<h4>International Money Transfer</h4>\n<p>Finally, could FinTech be a website or a mobile app that makes international money transfers cheaper? </p>\n<p>Using Bitcoin protocol and other blockchain technology platforms is definitely much cheaper than inter-bank money transfers and international money exchanges like Western Union.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-12.05.39-PM.png?fit=800%2C384&amp;ssl=1\" alt=\"\" class=\"wp-image-284\"/><br/><i><a href=\"http://cryptopay.me\">Cryptopay</a> web interface</i>\n<p>Today, theoretically speaking, anyone can transfer money overseas, almost instantaneously, cheaply and securely, without needing any financial intermediary. All they need to do is convert the money to a cryptocurrency of their choice and then send the amount from their wallet to the recipient's wallet. In most cases, the whole process takes few minutes.</p>\n<p>Wallets being free and blockchain transfer fees being almost null, the main cost associated with this kind of transfer is the cost of money exchange from the local fiat to crypto and from crypto back to fiat money. However, accessing an exchange platform might be a challenge in some countries and the process may require more time for people who don't have access to banking services. So to say, financial intermediaries are here to stay, with or without cryptocurrencies mass adoption. </p>\n<p>Beyond the individual and disintermediated case of blockchain money transfer, many companies use cryptocurrencies and blockchain technology to offer the possibility to transfer money overseas cheaply and securely. </p>\n<p>There are different players in this field. I could separate them in 4 categories:</p>\n<p><strong>#1  Banks and traditional financial institutions</strong></p>\n<p>There are many initiatives aiming to replace legacy settlement systems especially in the case of cross-border payments. </p>\n<p>The most famous initiatives are led by <a href=\"https://ripple.com/xrp/\">Ripple</a>, and <a href=\"https://www.r3.com/press-media/r3-launches-universal-corda-settler-application/\">R3</a>, but there are also initiatives by <a href=\"https://www.stellar.org/lumens\">Stellar</a>, <a href=\"https://usa.visa.com/partner-with-us/payment-technology/visa-b2b-connect.html\">Visa</a>, and even <a href=\"https://www.jpmorgan.com/global/news/digital-coin-payments\">J.P.Morgan</a>. <a href=\"https://www.swift.com/future-of-payments\">SWIFT</a> the dominant messaging system for international payment had no choice but to <a href=\"https://www.coindesk.com/swift-gives-blockchain-platforms-access-to-instant-gpi-payments-following-r3-trial\">open access to its GPI</a> (Global Payment Innovation)  to maintain its position despite the rise of these disruptors. Eventually, <a href=\"https://www.finextra.com/blogposting/17188/blockchain-corda-settler-ripple-and-swift-a-mariage-a-trois\">collaboration</a> is the best way forward.</p>\n<p class=\"has-small-font-size\">For a broader view on blockchain in banking, you can check out this <a href=\"https://ukdiss.com/examples/blockchain-in-banking.php#_Toc483227430\">state of the art analysis</a>.</p>\n<p><strong>#2 Debit card providers</strong></p>\n<p>There are numerous FinTech startups providing the possibility to spend cryptocurrencies directly with <a href=\"https://news.bitcoin.com/13-crypto-debit-cards/\">prepaid debit cards </a>(Visa and Mastercard). Generally, they provide custodian or non-custodian crypto-wallets and link them to prepaid debit cards thanks to agreements.</p>\n<p>To name a few: <a href=\"https://paycent.com/paycent-card/\">paycent</a> card, <a href=\"https://www.airtm.com/#/\">airtm</a> , MCO Visa card by <a href=\"https://crypto.com/en/cards.html\">Crypto.com</a></p>\n<p><strong>#3 Crypto neobanks</strong></p>\n<p>FinTech startups closer to neo-banks offering bank accounts that integrate fiat and cryptocurrencies seamlessly, such as <a href=\"https://www.revolut.com/en-US\">Revolut</a>.</p>\n<p><strong>#4 Crypto \"bureau de change\"</strong> </p>\n<p>FinTech startups providing a network of offices and /or people to exchange cryptocurrencies with local fiat currencies. <a href=\"https://www.bloom.solutions/personal-remittances\">BloomX</a> pioneers personal remittance between Philippines and Australia.</p>\n<p>Or directly a network of ATM, such as<a href=\"https://www.bitcoin.com/bitcoin-atm/\"> Bitcoin ATM</a>.</p>\n<h2>FinTech is a bundle of technologies</h2>\n<p>It's easy to note that FinTech is all about bringing forward the power of digital technologies to provide the best experience in serving users' financial needs while reducing operational challenges for financial services providers. </p>\n<p>Blockchain technology presents a wide range of advantages that makes it seem like a silver bullet in FinTech. It solves the operational challenges of a traditionally siloed sector. And it opens the gate for a more diverse and so more competitive sector. However, the best of FinTech is yet to come and it lies in the convergence of several technologies.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/21/whats-fintech/ </em><hr/></center>",
      "title": "What's FinTech?",
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      "body": "<p>In short, FinTech is the contraction of Financial and Technology. It's an umbrella term describing everything related to technologies serving financial services, from technology bricks to products, services, and companies. </p>\n<p>While Technology has always been <a href=\"https://www.nytimes.com/2016/04/07/business/dealbook/the-evolution-of-fintech.html\">part of financial services and operations</a>, the term has seen a surprising increase of attention at the end of 2013.</p>\n<img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-19-at-11.35.12-AM-1.png?fit=800%2C234&amp;ssl=1\" alt=\"\" class=\"wp-image-268\"/><br/><i>Google Trends for search word \"FinTech\"</i>\n<p class=\"has-small-font-size\">I have my personal explanation (guess) about the time of this surge and I'm curious to hear about yours so drop a message in my inbox if you want to share views on this ^^ </p>\n<p style=\"font-size:26px\">FinTech ranges from traditional financial companies using new technologies, to totally new financial services offered by FinTech startups. </p>\n<p>Extrapolating on this range of FinTech, it is useful to observe 2 broad categories of actors: </p>\n<ol><li>Tech companies providing financial services</li><li>Financial companies integrating technologies into their services</li></ol>\n<p>But the line between these actors is far from net. And it's one of the reasons why regulation has a major role in shaping the FinTech space and the future of financial services.</p>\n<p>It seems obvious especially in the light of the recent financial and economic crisis that the financial sector is undergoing major transformations, which are at the root of the emergence of FinTech, for two main reasons:</p>\n<ol><li>The cost of operations is too high and is considerably reduced by the use of new technologies</li><li>Increased regulation and compliance requirements in post-2008 called upon inevitable transformation</li></ol>\n<blockquote class=\"wp-block-quote\"><p>To the extent that regulation played a role in the [big] banks' reluctance to re-enter the small-business market once the crisis had subsided, our findings reinforce the view that one of the consequences of heightened bank regulation may be to drive activity to the less-regulated, nonbank sector.</p><cite>Chen et Al (2017), The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets</cite>\n</blockquote>\n<p>I will elaborate further on the reasons and goals of the emergence of FinTech, but first let's take a closer look at what is considered FinTech through some examples:</p>\n<h4>Digital Banking</h4>\n<p>FinTech is a major part of Mobile and Web banking services. It is integral to the shift from traditional to digital banking and it represents the means by which banks have undertaken the <a href=\"https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/\">digitization</a> of their services to meet customers' new digital needs.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-11.15.08-AM.png?fit=800%2C373&amp;ssl=1\" alt=\"\" class=\"wp-image-271\"/><br/><i>Remote Cheque Deposit with <a href=\"https://www.qnb.com/sites/qnb/qnbqatar/page/en/enremotechequedeposit.html#\">QNB Mobile banking</a></i>\n<h4>Lending and Personal Finance</h4>\n<p>Digital technologies and platforms allowed the emergence of FinTech companies offering financial services traditionally offered by banks. Such is the case with <a href=\"https://www.lendingclub.com/\">LendingClub</a> which offers peer-to-peer lending, and <a href=\"https://www.kabbage.com/\">Kabbage</a> which offers <em>automated</em>-lending for small business loans.</p>\n<p>These new FinTech platforms offer innovative ways of credit scoring that allow faster application and process times. Besides reducing loan application and processing time from weeks to instants, this allows them to access business segments that are unaccessible for banks.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-12.45.31-PM.png?fit=800%2C388&amp;ssl=1\" alt=\"\" class=\"wp-image-279\" width=\"693\" height=\"335\"/><br/><i>Screenshot from  <a href=\"https://www.business.org/finance/loans/best-small-business-loans/\">11 Best Small Business Loans of 2020</a></i></center>\n\n<ul><li><a href=\"https://www.kabbage.com/\">Kabbage</a> is an online FinTech company providing funding directly to small businesses and consumers through an automated lending platform. It leverages its capabilities of loan assessment through integration with business IT and data analysis (shipping &amp; accounting data). </li><li><a href=\"https://www.bluevine.com/\">BlueVine</a> , similar to Kabbage, also offers invoice financing where invoices act as collateral for a loan.</li><li><a href=\"http://lendingclub.com\">LendingClub</a> started as a Facebook app in  2007 and moved out to compete with other peer-to-peer lending platforms such as <a href=\"https://www.prosper.com/?__cf_chl_jschl_tk__=beb1a8252e4b72a6d1a556ab6650ef37d9dae333-1587374302-0-AT5HpoQg19gh6ug8EKNasjoWNWIUvyA-bHKiBgxK3Ayyzzno6C3i4Wfm-ojPu9_WX07tuF7fuEvMFmF6r8b1O4TJd72BUHpdwPOu13qmDoOSJPq4u574du77CHNiRHa0aH8VHuwK7SZXNGYBoxcq37hybymnSG3ExqC9Gb31sYW2RlcNN_RZ5c71axUQdz3nITyQxvZCZYnQnmQnGP2YED4T0cjxglMBP6ExCj4qoHVex6R7kj0x0olmse2ZbzTnFPEkkBFvf2i5rOomqr-ZKhGpmd9u4esx-UZxWMgheYJ4pCP3aNCGi4jvdGTJ2T4BZbRd-PTSdgeCqrugO_ZufUU\">Prosper</a> and <a href=\"https://www.zopa.com/?utm_campaign=AFFwiseclerkdotcom&amp;utm_medium=partner&amp;utm_source=AFFwiseclerkdotcom\">Zopa</a>.</li></ul>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-11.56.27-AM.png?fit=800%2C489&amp;ssl=1\" alt=\"\" class=\"wp-image-278\" width=\"570\" height=\"348\"/></center>\n\n<h4>International Money Transfer</h4>\n<p>Finally, could FinTech be a website or a mobile app that makes international money transfers cheaper? </p>\n<p>Using Bitcoin protocol and other blockchain technology platforms is definitely much cheaper than inter-bank money transfers and international money exchanges like Western Union.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-12.05.39-PM.png?fit=800%2C384&amp;ssl=1\" alt=\"\" class=\"wp-image-284\"/><br/><i><a href=\"http://cryptopay.me\">Cryptopay</a> web interface</i>\n<p>Today, theoretically speaking, anyone can transfer money overseas, almost instantaneously, cheaply and securely, without needing any financial intermediary. All they need to do is convert the money to a cryptocurrency of their choice and then send the amount from their wallet to the recipient's wallet. In most cases, the whole process takes few minutes.</p>\n<p>Wallets being free and blockchain transfer fees being almost null, the main cost associated with this kind of transfer is the cost of money exchange from the local fiat to crypto and from crypto back to fiat money. However, accessing an exchange platform might be a challenge in some countries and the process may require more time for people who don't have access to banking services. So to say, financial intermediaries are here to stay, with or without cryptocurrencies mass adoption. </p>\n<p>Beyond the individual and disintermediated case of blockchain money transfer, many companies use cryptocurrencies and blockchain technology to offer the possibility to transfer money overseas cheaply and securely. </p>\n<p>There are different players in this field. I could separate them in 4 categories:</p>\n<p><strong>#1  Banks and traditional financial institutions</strong></p>\n<p>There are many initiatives aiming to replace legacy settlement systems especially in the case of cross-border payments. </p>\n<p>The most famous initiatives are led by <a href=\"https://ripple.com/xrp/\">Ripple</a>, and <a href=\"https://www.r3.com/press-media/r3-launches-universal-corda-settler-application/\">R3</a>, but there are also initiatives by <a href=\"https://www.stellar.org/lumens\">Stellar</a>, <a href=\"https://usa.visa.com/partner-with-us/payment-technology/visa-b2b-connect.html\">Visa</a>, and even <a href=\"https://www.jpmorgan.com/global/news/digital-coin-payments\">J.P.Morgan</a>. <a href=\"https://www.swift.com/future-of-payments\">SWIFT</a> the dominant messaging system for international payment had no choice but to <a href=\"https://www.coindesk.com/swift-gives-blockchain-platforms-access-to-instant-gpi-payments-following-r3-trial\">open access to its GPI</a> (Global Payment Innovation)  to maintain its position despite the rise of these disruptors. Eventually, <a href=\"https://www.finextra.com/blogposting/17188/blockchain-corda-settler-ripple-and-swift-a-mariage-a-trois\">collaboration</a> is the best way forward.</p>\n<p class=\"has-small-font-size\">For a broader view on blockchain in banking, you can check out this <a href=\"https://ukdiss.com/examples/blockchain-in-banking.php#_Toc483227430\">state of the art analysis</a>.</p>\n<p><strong>#2 Debit card providers</strong></p>\n<p>There are numerous FinTech startups providing the possibility to spend cryptocurrencies directly with <a href=\"https://news.bitcoin.com/13-crypto-debit-cards/\">prepaid debit cards </a>(Visa and Mastercard). Generally, they provide custodian or non-custodian crypto-wallets and link them to prepaid debit cards thanks to agreements.</p>\n<p>To name a few: <a href=\"https://paycent.com/paycent-card/\">paycent</a> card, <a href=\"https://www.airtm.com/#/\">airtm</a> , MCO Visa card by <a href=\"https://crypto.com/en/cards.html\">Crypto.com</a></p>\n<p><strong>#3 Crypto neobanks</strong></p>\n<p>FinTech startups closer to neo-banks offering bank accounts that integrate fiat and cryptocurrencies seamlessly, such as <a href=\"https://bankera.com/\">Bankera</a>.</p>\n<p><strong>#4 Crypto \"bureau de change\"</strong> </p>\n<p>FinTech startups providing a network of offices and /or people to exchange cryptocurrencies with local fiat currencies. <a href=\"https://www.bloom.solutions/personal-remittances\">BloomX</a> pioneers personal remittance between Philippines and Australia.</p>\n<p>Or directly a network of ATM, such as<a href=\"https://www.bitcoin.com/bitcoin-atm/\"> Bitcoin ATM</a>.</p>\n<h2>FinTech is a bundle of technologies</h2>\n<p>It's easy to note that FinTech is all about bringing forward the power of digital technologies to provide the best experience in serving users' financial needs while reducing operational challenges for financial services providers. </p>\n<p>Blockchain technology presents a wide range of advantages that makes it seem like a silver bullet in FinTech. It solves the operational challenges of a traditionally siloed sector. And it opens the gate for a more diverse and so more competitive sector. However, the best of FinTech is yet to come and it lies in the convergence of several technologies.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/21/whats-fintech/ </em><hr/></center>",
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      "body": "<p>In short, FinTech is the contraction of Financial and Technology. It's an umbrella term describing everything related to technologies serving financial services, from technology bricks to products, services, and companies. </p>\n<p>While Technology has always been <a href=\"https://www.nytimes.com/2016/04/07/business/dealbook/the-evolution-of-fintech.html\">part of financial services and operations</a>, the term has seen a surprising increase of attention at the end of 2013.</p>\n<img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-19-at-11.35.12-AM-1.png?fit=800%2C234&amp;ssl=1\" alt=\"\" class=\"wp-image-268\"/><br/><i>Google Trends for search word \"FinTech\"</i>\n<p class=\"has-small-font-size\">I have my personal explanation (guess) about the time of this surge and I'm curious to hear about yours so drop a message in my inbox if you want to share views on this ^^ </p>\n<p style=\"font-size:26px\">FinTech ranges from traditional financial companies using new technologies, to totally new financial services offered by FinTech startups. </p>\n<p>Extrapolating on this range of FinTech, it is useful to observe 2 broad categories of actors: </p>\n<ol><li>Tech companies providing financial services</li><li>Financial companies integrating technologies into their services</li></ol>\n<p>But the line between these actors is far from net. And it's one of the reasons why regulation has a major role in shaping the FinTech space and the future of financial services.</p>\n<p>It seems obvious especially in the light of the recent financial and economic crisis that the financial sector is undergoing major transformations, which are at the root of the emergence of FinTech, for two main reasons:</p>\n<ol><li>The cost of operations is too high and is considerably reduced by the use of new technologies</li><li>Increased regulation and compliance requirements in post-2008 called upon inevitable transformation</li></ol>\n<blockquote class=\"wp-block-quote\"><p>To the extent that regulation played a role in the [big] banks' reluctance to re-enter the small-business market once the crisis had subsided, our findings reinforce the view that one of the consequences of heightened bank regulation may be to drive activity to the less-regulated, nonbank sector.</p><cite>Chen et Al (2017), The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets</cite>\n</blockquote>\n<p>I will elaborate further on the reasons and goals of the emergence of FinTech, but first let's take a closer look at what is considered FinTech through some examples:</p>\n<h4>Digital Banking</h4>\n<p>FinTech is a major part of Mobile and Web banking services. It is integral to the shift from traditional to digital banking and it represents the means by which banks have undertaken the <a href=\"https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/\">digitization</a> of their services to meet customers' new digital needs.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-11.15.08-AM.png?fit=800%2C373&amp;ssl=1\" alt=\"\" class=\"wp-image-271\"/><br/><i>Remote Cheque Deposit with <a href=\"https://www.qnb.com/sites/qnb/qnbqatar/page/en/enremotechequedeposit.html#\">QNB Mobile banking</a></i>\n<h4>Lending and Personal Finance</h4>\n<p>Digital technologies and platforms allowed the emergence of FinTech companies offering financial services traditionally offered by banks. Such is the case with <a href=\"https://www.lendingclub.com/\">LendingClub</a> which offers peer-to-peer lending, and <a href=\"https://www.kabbage.com/\">Kabbage</a> which offers <em>automated</em>-lending for small business loans.</p>\n<p>These new FinTech platforms offer innovative ways of credit scoring that allow faster application and process times. Besides reducing loan application and processing time from weeks to instants, this allows them to access business segments that are unaccessible for banks.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-12.45.31-PM.png?fit=800%2C388&amp;ssl=1\" alt=\"\" class=\"wp-image-279\" width=\"693\" height=\"335\"/><br/><i>Screenshot from  <a href=\"https://www.business.org/finance/loans/best-small-business-loans/\">11 Best Small Business Loans of 2020</a></i></center>\n\n<ul><li><a href=\"https://www.kabbage.com/\">Kabbage</a> is an online FinTech company providing funding directly to small businesses and consumers through an automated lending platform. It leverages its capabilities of loan assessment through integration with business IT and data analysis (shipping &amp; accounting data). </li><li><a href=\"https://www.bluevine.com/\">BlueVine</a> , similar to Kabbage, also offers invoice financing where invoices act as collateral for a loan.</li><li><a href=\"http://lendingclub.com\">LendingClub</a> started as a Facebook app in  2007 and moved out to compete with other peer-to-peer lending platforms such as <a href=\"https://www.prosper.com/?__cf_chl_jschl_tk__=beb1a8252e4b72a6d1a556ab6650ef37d9dae333-1587374302-0-AT5HpoQg19gh6ug8EKNasjoWNWIUvyA-bHKiBgxK3Ayyzzno6C3i4Wfm-ojPu9_WX07tuF7fuEvMFmF6r8b1O4TJd72BUHpdwPOu13qmDoOSJPq4u574du77CHNiRHa0aH8VHuwK7SZXNGYBoxcq37hybymnSG3ExqC9Gb31sYW2RlcNN_RZ5c71axUQdz3nITyQxvZCZYnQnmQnGP2YED4T0cjxglMBP6ExCj4qoHVex6R7kj0x0olmse2ZbzTnFPEkkBFvf2i5rOomqr-ZKhGpmd9u4esx-UZxWMgheYJ4pCP3aNCGi4jvdGTJ2T4BZbRd-PTSdgeCqrugO_ZufUU\">Prosper</a> and <a href=\"https://www.zopa.com/?utm_campaign=AFFwiseclerkdotcom&amp;utm_medium=partner&amp;utm_source=AFFwiseclerkdotcom\">Zopa</a>.</li></ul>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-11.56.27-AM.png?fit=800%2C489&amp;ssl=1\" alt=\"\" class=\"wp-image-278\" width=\"570\" height=\"348\"/></center>\n\n<h4>International Money Transfer</h4>\n<p>Finally, could FinTech be a website or a mobile app that makes international money transfers cheaper? </p>\n<p>Using Bitcoin protocol and other blockchain technology platforms is definitely much cheaper than inter-bank money transfers and international money exchanges like Western Union.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-12.05.39-PM.png?fit=800%2C384&amp;ssl=1\" alt=\"\" class=\"wp-image-284\"/><br/><i><a href=\"http://cryptopay.me\">Cryptopay</a> web interface</i>\n<p>Today, theoretically speaking, anyone can transfer money overseas, almost instantaneously, cheaply and securely, without needing any financial intermediary. All they need to do is convert the money to a cryptocurrency of their choice and then send the amount from their wallet to the recipient's wallet. In most cases, the whole process takes few minutes.</p>\n<p>Wallets being free and blockchain transfer fees being almost null, the main cost associated with this kind of transfer is the cost of money exchange from the local fiat to crypto and from crypto back to fiat money. However, accessing an exchange platform might be a challenge in some countries and the process may require more time for people who don't have access to banking services. So to say, financial intermediaries are here to stay, with or without cryptocurrencies mass adoption. </p>\n<p>Beyond the individual and disintermediated case of blockchain money transfer, many companies use cryptocurrencies and blockchain technology to offer the possibility to transfer money overseas cheaply and securely. </p>\n<p>There are different players in this field. I could separate them in 4 categories:</p>\n<p><strong>#1  Banks and traditional financial institutions</strong></p>\n<p>There are many initiatives aiming to replace legacy settlement systems especially in the case of cross-border payments. </p>\n<p>The most famous initiatives are led by <a href=\"https://ripple.com/xrp/\">Ripple</a>, and <a href=\"https://www.r3.com/press-media/r3-launches-universal-corda-settler-application/\">R3</a>, but there are also initiatives by <a href=\"https://www.stellar.org/lumens\">Stellar</a>, <a href=\"https://usa.visa.com/partner-with-us/payment-technology/visa-b2b-connect.html\">Visa</a>, and even <a href=\"https://www.jpmorgan.com/global/news/digital-coin-payments\">J.P.Morgan</a>. <a href=\"https://www.swift.com/future-of-payments\">SWIFT</a> the dominant messaging system for international payment had no choice but to <a href=\"https://www.coindesk.com/swift-gives-blockchain-platforms-access-to-instant-gpi-payments-following-r3-trial\">open access to its GPI</a> (Global Payment Innovation)  to maintain its position despite the rise of these disruptors. Eventually, <a href=\"https://www.finextra.com/blogposting/17188/blockchain-corda-settler-ripple-and-swift-a-mariage-a-trois\">collaboration</a> is the best way forward.</p>\n<p class=\"has-small-font-size\">For a broader view on blockchain in banking, you can check out this <a href=\"https://ukdiss.com/examples/blockchain-in-banking.php#_Toc483227430\">state of the art analysis</a>.</p>\n<p><strong>#2 Debit card providers</strong></p>\n<p>There are numerous FinTech startups providing the possibility to spend cryptocurrencies directly with prepaid debit cards (Visa and Mastercard). Generally, they provide custodian or non-custodian crypto-wallets and link them to prepaid debit cards thanks to agreements.</p>\n<p>To name a few: </p>\n<p><strong>#3 Crypto neobanks</strong></p>\n<p>FinTech startups closer to neo-banks offering bank accounts that integrate fiat and cryptocurrencies seamlessly</p>\n<p><strong>#4 Crypto \"bureau de change\"</strong></p>\n<p>FinTech startups providing a network of offices and /or people to exchange cryptocurrencies with local fiat currencies, such as: </p>\n<h2>FinTech is a bundle of technologies</h2>\n<p>It's easy to note that FinTech is all about bringing forward the power of digital technologies to provide the best experience in serving users' financial needs while reducing operational challenges for financial services providers. </p>\n<p>Blockchain technology presents a wide range of advantages that makes it seem like a silver bullet in FinTech. It solves the operational challenges of a traditionally siloed sector. And it opens the gate for a more diverse and so more competitive sector. However, the best of FinTech is yet to come and it lies in the convergence of several technologies.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/21/whats-fintech/ </em><hr/></center>",
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      "body": "<p>Historically, eras of technological progress and economic growth have been driven by a number of key technologies, known as general-purpose technologies (GPTs) . </p>\n<p>According to <a href=\"https://www.nber.org/papers/w4148.pdf\">Bresnahan and Trajtenberg’s definition</a>, GPTs have three fundamental features:</p>\n<ol><li>They are pervasive and are adopted by most sectors. </li><li>They inherently develop and improve over time. </li><li>They catalyze innovation in complementary technologies, resulting in the invention and production of new products or processes.</li></ol>\n<h2>Pervasiveness feature of blockchain</h2>\n<p>In a world where digitization is continuously growing, a technology that allows cheap and secure transfer of digital assets seems like a fundamental building block. </p>\n<p>Experts have identified <strong>three main use cases for blockchain technology that could be applied in most sectors:</strong></p>\n<ul><li>Execute digital payment</li><li>Automated contracts execution</li><li>Data ownership &amp; management</li></ul>\n<p>Blockchain could be viewed as a new piece of IT infrastructure. And just as IT is pervasive nowadays, blockchain is becoming pervasive.</p>\n<p>Though there is still a high degree of technological uncertainty, blockchain is being considered in many fields. From experimentation to commercial deployment, projects have been delivering value to a wide range of industries. </p>\n<h2>Development and improvement over time</h2>\n<p>Since the creation of bitcoin, the first proven public and open blockchain, many have been advancing blockchain technology. From applications with more flexible privacy to applications improving speed and scalability, researchers, developers, and entrepreneurs have been exploring different implementations of the technology.</p>\n<p>Developments and improvements in blockchain technology will naturally evolve according to the markets and types of transactions where it is being used. </p>\n<h2>Catalyst for innovation</h2>\n<p>Blockchain technology can be considered to have a general base use, and therefore offers opportunities to create, share, and store data. These opportunities are already fostering innovation in other technologies, such as Artificial Intelligence and the Internet of Things. </p>\n<p>Today most of blockchain applications address <strong>intensive margin applications</strong> where traditional businesses are doing more of what they already do, with an increased efficiency brought by blockchain technology. This is particularly the case for blockchain application in Finance and supply chain management. </p>\n<p>However, the real disruption behind blockchain technology remains in <strong>extensive margin applications</strong>, where new services and activities that deliver value to businesses and consumers can be executed. Bitcoin, or Filecoin which enables users to buy and sell cloud storage space through a tokenized incentive mechanism that powers the Filecoin blockchain, are examples of extensive margin applications.</p>\n<h5><em>The true power of blockchain resides in its ability to host the development of new environments, unlocking new capabilities with the use of complementary technologies and allowing new actors to reshape the market with new business models and incentives.</em></h5>\n<p>Based on these arguments, blockchain technology may be considered as a general-purpose technology that will generally foster progress and economic growth.</p>\n<p></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/30/is-blockchain-a-general-purpose-technology/ </em><hr/></center>",
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      "body": "<p>While public blockchains such as Bitcoin or Ethereum were the first to emerge, private and consortium blockchains that restrict access to specific users witnessed an increasing speed of implementations by companies and institutions. These private networks offer the benefits of a decentralized peer-to-peer network but require the authentication of the users’ identity to allow access rights, and it can be restricted to specific transactions.&nbsp;</p>\n<blockquote class=\"wp-block-quote\"><p>Every blockchain network has its own design rules that are purposefully specified and implemented into the protocol to achieve the objective of the network. A blockchain infrastructure can be private or public. Access to certain features of the platform can also be permissioned or permission less. And finally, some blockchains are designed with a native token; some are not.</p>\n</blockquote>\n<p>When we address these rules, we are generally addressing the <a href=\"https://nadsnotes.com/2019/06/19/decentralization/\">level of decentralization</a> of a given blockchain, stating not only the rules to who may read certain data and who is allowed to create new data in the shared ledger but also who will operate the network and according to which consensus. </p>\n<blockquote class=\"wp-block-quote\"><p>These choices have implications on the level of energy consumption, the level of security, the speed, and the trust level required to join the network.</p>\n</blockquote>\n<p>It is worth noting that the decentralization aspect of a blockchain is a complex subject. While decentralization is one of the critical elements behind blockchain, a blockchain can also run in a central environment.&nbsp;</p>\n<p>For specific business applications where a blockchain is operated by one company or one organization and where participants are known and trusted, centralization could be accepted.&nbsp;</p>\n<p>However, it is imperative to assess the degree of centralization and most of all, distinguish between the levels at which it could be observed:&nbsp;</p>\n<ul><li>Data access level (who reads/who writes)&nbsp;</li><li>Infrastructure governance level (strategic infrastructure and features upgrades)&nbsp;</li><li>Consensus level (who participates in the consensus),&nbsp;</li><li>The physical level, which is the hardware and its geographical location.</li></ul>\n<blockquote class=\"wp-block-quote\"><p>The design rules impact the level of decentralization, and in consequence, they also impact the speed, the security, and scalability of a given blockchain.&nbsp;</p>\n</blockquote>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2019/09/08/types-of-blockchain/ </em><hr/></center>",
      "title": "Blockchain Design",
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      "body": "<p>Before I start telling you about all the wonderful and mundane things revolving around blockchain technology, let's first revisit some terms.&nbsp;</p>\n<p>To do so, I'm going to use a couple of statements and provide a short explanation of the terms used in these statements.</p>\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container\"><h4>A <em>blockchain</em> network is designed and designated by its <em>blockchain</em> protocol, and sometimes powered by a <em>blockchain</em> token, often referred to as cryptocurrency.</h4>\n</div></div>\n<p>As seen in <a href=\"https://nadsnotes.com/2019/04/06/what-is-blockchain/\">a previous article</a>, technically speaking, the blockchain is the data structure of the ledger. And the use of the term blockchain is highly contextual. However, when we talk about this or that blockchain we are most probably referring to the main network. </p>\n<p>In the case of bitcoin, the sentence becomes:</p>\n<blockquote class=\"wp-block-quote\"><p><strong>Bitcoin is a network designed and designated by the Bitcoin protocol and powered by bitcoin, the network's native token, the famous cryptocurrency.</strong></p>\n</blockquote>\n<p>Maybe the most recurring confusion (maybe not anymore?) is the relationship between bitcoin (lower case), the cryptocurrency (token); and Bitcoin (upper case), the blockchain underlying it (the network running the protocol).&nbsp;</p>\n<p>To clarify how these terms relate to each other, I like using the analogy with an engine, something we are all familiar with.</p>\n<h6>Bitcoin, the <em>blockchain</em> token,  is the power supply for the engine.</h6>\n<p class=\"has-small-font-size\">A token, as defined by the Cambridge dictionary - is a round&nbsp;piece&nbsp;of&nbsp;metal&nbsp;or&nbsp;plastic&nbsp;that is used&nbsp;instead&nbsp;of&nbsp;money&nbsp;in some&nbsp;machines, for&nbsp;example, to get&nbsp;food&nbsp;or&nbsp;drink&nbsp;out of a&nbsp;vending&nbsp;machine, use a&nbsp;car&nbsp;park, etc.</p>\n<p>A token in blockchain technology is a digital asset created and used on the network according to its design purposes. It could be fungible or nonfungible. And in  all cases it has a utility, either to the network or to its holder.</p>\n<p>*To better understand why bitcoin is the fuel of the network, you can refer to my post about how Bitcoin works.</p>\n<h6>Bitcoin, the <em>blockchain</em> network, is the running engine.</h6>\n<p class=\"has-small-font-size\">A network, as defined by the Cambridge dictionary - is a&nbsp;large&nbsp;system&nbsp;consisting of many&nbsp;similar&nbsp;parts&nbsp;that are&nbsp;connected to&nbsp;allow&nbsp;communication&nbsp;between the&nbsp;parts, or between the&nbsp;parts&nbsp;and a&nbsp;control&nbsp;center.</p>\n<p>We see from the definition that a network could be centralized or decentralized. In the case of blockchain technology, the network is structured in a decentralized manner into a peer-to-peer network.</p>\n<h6>Bitcoin, the <em>blockchain</em> protocol, is the design - the blueprint - of the engine.</h6>\n<p class=\"has-small-font-size\">A protocol, as defined by the Cambridge dictionary - is a set of&nbsp;technical&nbsp;rules&nbsp;that&nbsp;control&nbsp;the&nbsp;exchange&nbsp;of&nbsp;information&nbsp;between different&nbsp;computers&nbsp;or&nbsp;computer&nbsp;networks.</p>\n<h4>Bitcoin is an open-source blockchain.</h4>\n<p>This means that the protocol is publicly accessible. Anyone can look at it, audit it, copy it, modify it and use it for other purposes.</p>\n<h4>Let's fork it.</h4>\n<p>Copying and using a blockchain protocol creates what we call a fork. </p>\n<p>If someone starts running their own copy of the protocol, modified or not modified, it's like they created a new engine and started running it. They create a new network, fueled by a new version of the cryptocurrency. If enough people join in running the same protocol, the new network grows in size and the cryptocurrency eventually gains value.</p>\n<p>As a funny example, and I'm far from promoting it, Dogecoin - the blockchain and its cryptocurrency - were created from a copy of litecoin protocol, which is itself a modified copy of bitcoin protocol. The founder launched it in 2013 as a joke and named it after his dog. At that time, many altcoins - alternative coins (alternatives to bitcoin) - were created by forking the bitcoin protocol, following the 2013 bitcoin price surge. Today, it's ranked 32nd among more than 2000 cryptocurrencies by its market cap, exceeding 200 million dollars in capitalization...</p>\n<h4>Blockchain Design Rules</h4>\n<p>You can refer back to <a href=\"https://nadsnotes.com/2019/09/08/types-of-blockchain/\">this article</a> where I cover main aspects of blockchain design.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/08/general-terms/ </em><hr/></center>",
      "title": "General Terms",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Information</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p><strong>With blockchain, the email could be considered as a unique object, just like a physical letter. </strong></p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p><strong>And so?</strong></p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. </p>\n<p class=\"has-medium-font-size\"><em>Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</em></p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. </p>\n<p>The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps.</p>\n<p class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. </p>\n<p style=\"font-size:14px\">This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p><strong>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </strong></p>\n<p class=\"has-medium-font-size\"><em>Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</em></p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. </p>\n<p>At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/05/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Information</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p><strong>With blockchain, the email could be considered as a unique object, just like a physical letter. </strong></p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p><strong>And so?</strong></p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. </p>\n<p class=\"has-medium-font-size\"><em>Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</em></p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. </p>\n<p>The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps.</p>\n<p class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. </p>\n<p style=\"font-size:14px\">This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </p>\n<p class=\"has-medium-font-size\"><em>Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</em></p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. </p>\n<p>At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/05/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Information</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p><strong>With blockchain, the email could be considered as a unique object, just like a physical letter. </strong></p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p><strong>And so?</strong></p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. </p>\n<p class=\"has-medium-font-size\"><em>Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</em></p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. </p>\n<p>The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps.</p>\n<p class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. </p>\n<p style=\"font-size:14px\">This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </p>\n<p class=\"has-medium-font-size\">Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. </p>\n<p>At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/05/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Information</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p><strong>With blockchain, the email could be considered as a unique object, just like a physical letter. </strong></p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p><strong>And so?</strong></p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. </p>\n<p class=\"has-medium-font-size\"><em>Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</em></p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. </p>\n<p>The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps. </p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. </p>\n<p style=\"font-size:14px\">This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </p>\n<p>Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/05/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Information</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p><strong>With blockchain, the email could be considered as a unique object, just like a physical letter. </strong></p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p><strong>And so?</strong></p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. </p>\n<p class=\"has-medium-font-size\"><em>Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</em></p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps. </p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </p>\n<p>Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2019/04/06/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Information</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p><em><strong>With blockchain, the email could be considered as a unique object, just like a physical letter. </strong></em></p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><em><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></em></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps. </p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </p>\n<p>Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2019/04/06/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p style=\"font-size:22px\" class=\"has-text-color has-text-align-left has-dark-gray-color\"><strong>Blockchain is a set of technologies allowing us to build a new kind of network infrastructure enabling the transfer of value.</strong></p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Network of Value Vs. Network of Informations</strong></p>\n<p class=\"has-text-color has-text-align-left has-black-color\">I like using the expression network of value, in comparison to the Internet which is a set of technologies that allowed us to have a global network of information transfer. </p>\n<p>The difference here lies in the fact that a piece of \"information\" over the internet is shared, replicated, and possibly edited, whereas a piece of \"value\" over the blockchain is transacted irrevocably and can not be tampered with.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Emails Vs. Letters</strong></p>\n<p class=\"has-text-color has-black-color\">To illustrate this difference, we can consider emails as a basic example. </p>\n<p>After sending an email, the sender will have a copy of it in his <em>sent</em> folder and the receiver will get a copy in his <em>inbox</em> folder. The receiver can also forward the email, possibly editing it without leaving any evidence of his act. </p>\n<p>With blockchain, the email could be considered as a unique object, just like a physical letter. </p>\n<p>Once the letter is sent, the sender no longer possesses it. It will be underway until it arrives in the hands of the receiver. The receiver can forward the letter to someone else but can not temper with its content. Or, the receiver can simply choose to show the letter, or parts of it, to someone else on the blockchain, to prove that he holds it or to unveil specific parts of it, as he would do with a physical document, but he will do so digitally!</p>\n<p>Imagine this letter is an official document issued by an official authority. Let's say it's your higher education diploma or your digital identity document. It becomes much easier for you to prove your credentials digitally, online.</p>\n<p>Imagine all the administrative burdens that would be eased, but also the new level of trust that we will witness in our increasingly digital world. Because, beyond the authenticity of documents, the mechanics by which the blockchain provides trust in digital objects, open a vast field of applications, most of which are yet to be imagined.</p>\n<p style=\"font-size:18px\" class=\"has-text-color has-gray-color\"><em><strong>Back in the 90s, could you have imagined Airbnb happening?</strong></em></p>\n<p>Our imagination of which revolutionary applications we would see emerge from our use of the Internet was quite limited, the same way our imagination today of what the Blockchain would bring is most probably still limited. The World Wide Web was invented in 1990 and yet we wouldn't have imagined the rise of eCommerce or the sharing economy in the late 90s, and even during the early years of the 21st century. It's not until we got the smartphones (past 2007) that the internet became at our fingertips, more widely a part of our daily lives with social media platforms and the explosion of mobile apps. </p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The concept of Emergence...</strong></p>\n<p>This is explained by the composability of different technologies, and the concept of emergence, by which we observe that a system has properties its components do not have on their own. This is a subject I could only talk about for so long so let's go back to what's blockchain, and I'll tell you more about the evolution of digital technologies in another post.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>The first public appearance</strong></p>\n<p>The most famous blockchain is <strong>bitcoin</strong>, a peer-to-peer electronic cash system. Widely recognized as the first blockchain, it was created in 2008, based on technologies dating back to the 80s and 90s.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-11.29.29-AM.png?fit=525%2C402&amp;ssl=1\" alt=\"\" class=\"wp-image-176\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>Not yet a single definition</strong></p>\n<p>In a broad stroke, the term blockchain is widely used to designate a myriad of technology components and concepts of Distributed Ledger Technologies. </p>\n<p>Due to the nascent nature of these technologies, standard definitions are lacking and the terminology related to these technologies is often contextual.</p>\n<p>For example, if we look at the definition of blockchain in the Cambridge dictionary, we can still witness a great deal of confusion. This definition is largely inspired by the bitcoin blockchain, describing a system of record-keeping of cryptocurrency transactions. However, it's not a general definition of a blockchain.</p>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-05-at-4.41.53-PM.png?fit=525%2C357&amp;ssl=1\" alt=\"\" class=\"wp-image-177\" width=\"515\" height=\"350\"/></center>\n\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Chain of Blocks</strong></p>\n<p>Technically speaking, we could define the blockchain as a chain of blocks as its name suggests. The blocks are appended to each other with a cryptographic link forming an unbreakable chain, and each block contains a set of verified data. This chain of blocks, the blockchain, represents a \"Ledger\", a record-keeping book such as an accounting book. And this ledger is maintained by and shared across a decentralized network of agents, with the use of a consensus protocol.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Network of Agents</strong></p>\n<p>In other terms, it's a network of agents where each agent holds a copy of the blockchain (the ledger). Any agent can create new data (transactions) to be added to the ledger, and the validity of this data is verifiable by each agent. At regular intervals, the verified data is added to the blockchain (the ledger), thanks to a consensus protocol used among the agents to allow them to agree on the true version of the blockchain (the ledger) and update the version they hold accordingly.</p>\n<p style=\"font-size:20px\" class=\"has-text-color has-gray-color\"><strong>A Truth Machine</strong></p>\n<p>More broadly speaking, the blockchain is a distributed computing system organized as a peer-to-peer network of computers, using cryptography, and maintaining a distributed ledger, that represents an agreed-upon version of the truth.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2019/04/06/what-is-blockchain/ </em><hr/></center>",
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      "body": "<p>The Fluid Consumer is a term coined by Teo Correia, the Global Senior Managing Director of Accenture's Consumer Goods &amp; Services industry group, to describe the digitally enabled consumer. In his book, <a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\">Next Generation Growth and Branding in the Digital Age</a>, he analyses the characteristics of this new category of consumers and explores new marketing strategies in times of hyper-digitization.</p>\n<blockquote class=\"wp-block-quote\"><p><a>&nbsp;</a>“For reasons of necessity and opportunity, every industry finds itself in the technology business” </p><cite><em>Rachel Rofel, creative director at Fischer Productions</em></cite>\n</blockquote>\n<p>His analysis of the consumer's behavior in the digital era is quite representative of a whole new generation of natively digital consumers. Beyond the digital-empowerment, there are also generational traits that are characteristics of millennials. So here I am sharing some insights from the book, relevant to keep in mind when designing products and services in this digital era.</p>\n<p>To start, we must realize how digital mobile devices are the root cause of change in the behavior of consumers. As they became part of daily life, they changed the fundamentals of how a company interacts with its consumers.</p>\n<p>At any time and almost everywhere, the fluid consumers can access most of the information they need in order to consult, compare and contrast before making a decision or taking an action. </p>\n<p>In order to adapt to an environment, where building strong brands became more difficult yet more crucial to preserve brand loyalty, companies must now work more on bringing fluidity into their processes in order to deliver innovative and creative digital points of engagements.</p>\n<h2>Traits of fluid consumers “Digitally Enabled Consumers”</h2>\n<p>To better understand fluid consumers, it is important to dig deeper. Teo Correia defined the 8 traits of the “Digitally Enabled Consumers”.</p>\n<h5>1. Fluid Expectations</h5>\n<p class=\"has-small-font-size\">Once a fluid consumer has a positive experience with a brand or service, they are ready and willing to expect the same from other brands, markets or even industries. This, therefore, makes the qualities they value very fluid, making marketers aim at moving targets, which requires a great deal of flexibility and constant adaption. It becomes increasingly challenging for marketers to find the right messages and engage at the right moment.</p>\n<h5>2. Not loyal</h5>\n<p class=\"has-small-font-size\">Fluid consumers tend to not be loyal to any particular brand. They can quickly change their choices for improved convenience and by the vastly available peer reviews. The data supports this by showing that 40% of young shoppers take the information available on platforms into account before making their decisions. If a brand overpromises and underdelivers, new features in other products become relevant to them or if simply a better option is available, fluid consumers will not hesitate to switch brands. This makes it increasingly important for marketers to build strategies that allow them to lock in customers and build long term sustainable relations.</p>\n<h5>3. Impulsive</h5>\n<p class=\"has-small-font-size\">59% of consumers do not see switching brands as a hassle, %44 are open for better deals and 41% are happy to receive promotions and discounts. Having most marketplaces within a click away, timely and well-placed communication with a consumer by the company or a peer can prompt an immediate purchase.</p>\n<h5>4. They agree to share personal information</h5>\n<p class=\"has-small-font-size\">Although concerned about privacy and data protection, fluid consumers do not mind to exchange their personal information for the convenience digital markets has to offer them. 75% of consumers are willing to let retailers collect their data if they can control WHEN and HOW it is used and 70% are comfortable sharing personal data given TRANSPARENCY is respected.</p>\n<h5>5. Integrated shoppers</h5>\n<p class=\"has-small-font-size\">Fluid consumers do not see shopping as an activity in itself, digital technology allows them to incorporate it into their daily life, doing it when they are working, commuting, eating, socializing or during any other routine activities they perform in their daily lives.&nbsp;</p>\n<h5>6. Digital shoppers</h5>\n<p class=\"has-small-font-size\">Even when not using digital technology to shop, 53% of fluid consumers will still revert to the internet while doing their regular shopping in order to compare prices and read reviews, with that said, it is also expected that global online sales will almost double by 2022.</p>\n<h5>7. Multi taskers</h5>\n<p class=\"has-small-font-size\">Digital technology has also enabled consumers to be able to multitask, this means that they can be at the gym, having dinner, talking to a friend, yet they would also be reading or writing reviews, buying things online, making reservations or simply reading about products and services they are interested in.</p>\n<h5>8. Multiple identities</h5>\n<p class=\"has-small-font-size\">Fluid consumers and most notably the millennials ones will usually have multiple consumer identities and that can be reflected by their attraction to different brands that correspond to different themes such as healthy, social, luxurious or creative.</p>\n<p>Digital technologies have broadened the concept of a product, although design and features still matter, companies must also focus on building a brand that can anticipate customer desires and provide relevant offers. They now have to put a lot more work to satisfy consumers in every stage of their journey, this includes the ease of finding, comparing, selecting, purchasing, and receiving the product.</p>\n<p>Drawing upon the characteristics of the Fluid Consumer, in the next article, I will showcase to you the importance of Platform Thinking and the power of networks in the context of Marketing in the digital era.</p>\n<hr class=\"wp-block-separator\"/>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/22/the-fluid-consumer/ </em><hr/></center>",
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      "body": "<p>The Fluid Consumer is a term coined by Teo Correia, the Global Senior Managing Director of Accenture's Consumer Goods &amp; Services industry group, to describe the digitally enabled consumer. In his book, <a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\">Next Generation Growth and Branding in the Digital Age</a>, he analyses the characteristics of this new category of consumers and explores new marketing strategies in times of hyper-digitization.</p>\n<blockquote class=\"wp-block-quote\"><p><a>&nbsp;</a>“For reasons of necessity and opportunity, every industry finds itself in the technology business” </p><cite><em>Rachel Rofel, creative director at Fischer Productions</em></cite>\n</blockquote>\n<p>His analysis of the consumer's behavior in the digital era is quite representative of a whole new generation of natively digital consumers. Beyond the digital-empowerment, there are also generational traits that are characteristics of millennials. So here I am sharing some insights from the book, relevant to keep in mind when designing products and services in this digital era.</p>\n<p>To start, we must realize how digital mobile devices are the root cause of change in the behavior of consumers. As they became part of daily life, they changed the fundamentals of how a company interacts with its consumers.</p>\n<p>At any time and almost everywhere, the fluid consumers can access most of the information they need in order to consult, compare and contrast before making a decision or taking an action. </p>\n<p>In order to adapt to an environment, where building strong brands became more difficult yet more crucial to preserve brand loyalty, companies must now work more on bringing fluidity into their processes in order to deliver innovative and creative digital points of engagements.</p>\n<h2>Traits of fluid consumers “Digitally Enabled Consumers”</h2>\n<p>To better understand fluid consumers, it is important to dig deeper. Teo Correia defined the 8 traits of the “Digitally Enabled Consumers”.</p>\n<h5>1. Fluid Expectations</h5>\n<p class=\"has-small-font-size\">Once a fluid consumer has a positive experience with a brand or service, they are ready and willing to expect the same from other brands, markets or even industries. This, therefore, makes the qualities they value very fluid, making marketers aim at moving targets, which requires a great deal of flexibility and constant adaption. It becomes increasingly challenging for marketers to find the right messages and engage at the right moment.</p>\n<h5>2. Not loyal</h5>\n<p class=\"has-small-font-size\">Fluid consumers tend to not be loyal to any particular brand. They can quickly change their choices for improved convenience and by the vastly available peer reviews. The data supports this by showing that 40% of young shoppers take the information available on platforms into account before making their decisions. If a brand overpromises and underdelivers, new features in other products become relevant to them or if simply a better option is available, fluid consumers will not hesitate to switch brands. This makes it increasingly important for marketers to build strategies that allow them to lock in customers and build long term sustainable relations.</p>\n<h5>3. Impulsive</h5>\n<p class=\"has-small-font-size\">59% of consumers do not see switching brands as a hassle, %44 are open for better deals and 41% are happy to receive promotions and discounts. Having most marketplaces within a click away, timely and well-placed communication with a consumer by the company or a peer can prompt an immediate purchase.</p>\n<h5>4. They agree to share personal information</h5>\n<p class=\"has-small-font-size\">Although concerned about privacy and data protection, fluid consumers do not mind to exchange their personal information for the convenience digital markets has to offer them. 75% of consumers are willing to let retailers collect their data if they can control WHEN and HOW it is used and 70% are comfortable sharing personal data given TRANSPARENCY is respected.</p>\n<h5>5. Integrated shoppers</h5>\n<p class=\"has-small-font-size\">Fluid consumers do not see shopping as an activity in itself, digital technology allows them to incorporate it into their daily life, doing it when they are working, commuting, eating, socializing or during any other routine activities they perform in their daily lives.&nbsp;</p>\n<h5>6. Digital shoppers</h5>\n<p class=\"has-small-font-size\">Even when not using digital technology to shop, 53% of fluid consumers will still revert to the internet while doing their regular shopping in order to compare prices and read reviews, with that said, it is also expected that global online sales will almost double by 2022.</p>\n<h5>7. Multi taskers</h5>\n<p class=\"has-small-font-size\">Digital technology has also enabled consumers to be able to multitask, this means that they can be at the gym, having dinner, talking to a friend, yet they would also be reading or writing reviews, buying things online, making reservations or simply reading about products and services they are interested in.</p>\n<h5>8. 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They now have to put a lot more work to satisfy consumers in every stage of their journey, this includes the ease of finding, comparing, selecting, purchasing, and receiving the product.</p>\n<p>Drawing upon the characteristics of the Fluid Consumer, I will showcase to you the importance of Platform Thinking and the power of networks in the context of Marketing in the digital era.</p>\n<hr class=\"wp-block-separator\"/>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/22/the-fluid-consumer/ </em><hr/></center>",
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      "body": "<p>The Fluid Consumer is a term coined by Teo Correia, the Global Senior Managing Director of Accenture's Consumer Goods &amp; Services industry group, to describe the digitally enabled consumer. In his book, <a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\">Next Generation Growth and Branding in the Digital Age</a>, he analyses the characteristics of this new category of consumers and explores new marketing strategies in times of hyper-digitization.</p>\n<blockquote class=\"wp-block-quote\"><p><a>&nbsp;</a>“For reasons of necessity and opportunity, every industry finds itself in the technology business” </p><cite><em>Rachel Rofel, creative director at Fischer Productions</em></cite>\n</blockquote>\n<p>His analysis of the consumer's behavior in the digital era is quite representative of a whole new generation of natively digital consumers. Beyond the digital-empowerment, there are also generational traits that are characteristics of millennials. So here I am sharing some insights from the book, relevant to keep in mind when designing products and services in this digital era.</p>\n<p>To start, we must realize how digital mobile devices are the root cause of change in the behavior of consumers. As they became part of daily life, they changed the fundamentals of how a company interacts with its consumers.</p>\n<p>At any time and almost everywhere, the fluid consumers can access most of the information they need in order to consult, compare and contrast before making a decision or taking an action. </p>\n<p>In order to adapt to an environment, where building strong brands became more difficult yet more crucial to preserve brand loyalty, companies must now work more on bringing fluidity into their processes in order to deliver innovative and creative digital points of engagements.</p>\n<h2>Traits of fluid consumers “Digitally Enabled Consumers”</h2>\n<p>To better understand fluid consumers, it is important to dig deeper. Teo Correia defined the 8 traits of the “Digitally Enabled Consumers”.</p>\n<h5>1. Fluid Expectations</h5>\n<p class=\"has-small-font-size\">Once a fluid consumer has a positive experience with a brand or service, they are ready and willing to expect the same from other brands, markets or even industries. This, therefore, makes the qualities they value very fluid, making marketers aim at moving targets, which requires a great deal of flexibility and constant adaption. It becomes increasingly challenging for marketers to find the right messages and engage at the right moment.</p>\n<h5>2. Not loyal</h5>\n<p class=\"has-small-font-size\">Fluid consumers tend to not be loyal to any particular brand. They can quickly change their choices for improved convenience and by the vastly available peer reviews. The data supports this by showing that 40% of young shoppers take the information available on platforms into account before making their decisions. If a brand overpromises and underdelivers, new features in other products become relevant to them or if simply a better option is available, fluid consumers will not hesitate to switch brands. This makes it increasingly important for marketers to build strategies that allow them to lock in customers and build long term sustainable relations.</p>\n<h5>3. Impulsive</h5>\n<p class=\"has-small-font-size\">59% of consumers do not see switching brands as a hassle, %44 are open for better deals and 41% are happy to receive promotions and discounts. Having most marketplaces within a click away, timely and well-placed communication with a consumer by the company or a peer can prompt an immediate purchase.</p>\n<h5>4. They agree to share personal information</h5>\n<p class=\"has-small-font-size\">Although concerned about privacy and data protection, fluid consumers do not mind to exchange their personal information for the convenience digital markets has to offer them. 75% of consumers are willing to let retailers collect their data if they can control WHEN and HOW it is used and 70% are comfortable sharing personal data given TRANSPARENCY is respected.</p>\n<h5>5. Integrated shoppers</h5>\n<p class=\"has-small-font-size\">Fluid consumers do not see shopping as an activity in itself, digital technology allows them to incorporate it into their daily life, doing it when they are working, commuting, eating, socializing or during any other routine activities they perform in their daily lives.&nbsp;</p>\n<h5>6. Digital shoppers</h5>\n<p class=\"has-small-font-size\">Even when not using digital technology to shop, 53% of fluid consumers will still revert to the internet while doing their regular shopping in order to compare prices and read reviews, with that said, it is also expected that global online sales will almost double by 2022.</p>\n<h5>7. Multi taskers</h5>\n<p class=\"has-small-font-size\">Digital technology has also enabled consumers to be able to multitask, this means that they can be at the gym, having dinner, talking to a friend, yet they would also be reading or writing reviews, buying things online, making reservations or simply reading about products and services they are interested in.</p>\n<h5>8. 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      "body": "<p>The Fluid Consumer is a term coined by Teo Correia, the Global Senior Managing Director of Accenture's Consumer Goods &amp; Services industry group, to describe the digitally enabled consumer. In his book, <a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\">Next Generation Growth and Branding in the Digital Age</a>, he analyses the characteristics of this new category of consumers and explores new marketing strategies in times of hyper-digitization.</p>\n<blockquote class=\"wp-block-quote\"><p><a>&nbsp;</a>“For reasons of necessity and opportunity, every industry finds itself in the technology business” </p><cite><em>Rachel Rofel, creative director at Fischer Productions</em></cite>\n</blockquote>\n<p>His analysis of the consumer's behavior in the digital era is quite representative of a whole new generation of natively digital consumers. Beyond the digital-empowerment, there are also generational traits that are characteristics of millennials. So here I am sharing some insights from the book, relevant to keep in mind when designing products and services in this digital era.</p>\n<p>To start, we must realize how digital mobile devices are the root cause of change in the behavior of consumers. As they became part of daily life, they changed the fundamentals of how a company interacts with consumers.</p>\n<p>At any time and almost everywhere, the fluid consumers can access most of the information they need in order to consult, compare and contrast before making a decision or taking an action. </p>\n<p>In order to adapt to an environment, where building strong brands became more difficult yet more crucial to preserve brand loyalty, companies must now work more on bringing fluidity into their processes in order to deliver innovative and creative digital points of engagements.</p>\n<h2>Traits of fluid consumers “Digitally Enabled Consumers”</h2>\n<p>To better understand fluid consumers, it is important to dig deeper. Teo Correia defined the 8 traits of the “Digitally Enabled Consumers”.</p>\n<h5>1. Fluid Expectations</h5>\n<p class=\"has-small-font-size\">Once a fluid consumer has a positive experience with a brand or service, they are ready and willing to expect the same from other brands, markets or even industries. This, therefore, makes the qualities they value very fluid, making marketers aim at moving targets, which requires a great deal of flexibility and constant adaption. It becomes increasingly challenging for marketers to find the right messages and engage at the right moment.</p>\n<h5>2. Not loyal</h5>\n<p class=\"has-small-font-size\">Fluid consumers tend to not be loyal to any particular brand. They can quickly change their choices for improved convenience and by the vastly available peer reviews. The data supports this by showing that 40% of young shoppers take the information available on platforms into account before making their decisions. If a brand overpromises and underdelivers, new features in other products become relevant to them or if simply a better option is available, fluid consumers will not hesitate to switch brands. This makes it increasingly important for marketers to build strategies that allow them to lock in customers and build long term sustainable relations.</p>\n<h5>3. Impulsive</h5>\n<p class=\"has-small-font-size\">59% of consumers do not see switching brands as a hassle, %44 are open for better deals and 41% are happy to receive promotions and discounts. Having most marketplaces within a click away, timely and well-placed communication with a consumer by the company or a peer can prompt an immediate purchase.</p>\n<h5>4. They agree to share personal information</h5>\n<p class=\"has-small-font-size\">Although concerned about privacy and data protection, fluid consumers do not mind to exchange their personal information for the convenience digital markets has to offer them. 75% of consumers are willing to let retailers collect their data if they can control WHEN and HOW it is used and 70% are comfortable sharing personal data given TRANSPARENCY is respected.</p>\n<h5>5. Integrated shoppers</h5>\n<p class=\"has-small-font-size\">Fluid consumers do not see shopping as an activity in itself, digital technology allows them to incorporate it into their daily life, doing it when they are working, commuting, eating, socializing or during any other routine activities they perform in their daily lives.&nbsp;</p>\n<h5>6. Digital shoppers</h5>\n<p class=\"has-small-font-size\">Even when not using digital technology to shop, 53% of fluid consumers will still revert to the internet while doing their regular shopping in order to compare prices and read reviews, with that said, it is also expected that global online sales will almost double by 2022.</p>\n<h5>7. Multi taskers</h5>\n<p class=\"has-small-font-size\">Digital technology has also enabled consumers to be able to multitask, this means that they can be at the gym, having dinner, talking to a friend, yet they would also be reading or writing reviews, buying things online, making reservations or simply reading about products and services they are interested in.</p>\n<h5>8. 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      "body": "<p>The Fluid Consumer is a term coined by Teo Correia, the Global Senior Managing Director of Accenture's Consumer Goods &amp; Services industry group, to describe the digitally enabled consumer. In his book, <a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\">Next Generation Growth and Branding in the Digital Age</a>, he analyses the characteristics of this new category of consumers and explores new marketing strategies in times of hyper-digitization.</p>\n<blockquote class=\"wp-block-quote\"><p><a>&nbsp;</a>“For reasons of necessity and opportunity, every industry finds itself in the technology business” </p><cite><em>Rachel Rofel, creative director at Fischer Productions</em></cite>\n</blockquote>\n<p>His analysis of the consumer's behavior in the digital era is quite representative of a whole new generation of natively digital consumers. 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If a brand overpromises and underdelivers, new features in other products become relevant to them or if simply a better option is available, fluid consumers will not hesitate to switch brands. This makes it increasingly important for marketers to build strategies that allow them to lock in customers and build long term sustainable relations.</p>\n<h5>3. Impulsive</h5>\n<p class=\"has-small-font-size\">59% of consumers do not see switching brands as a hassle, %44 are open for better deals and 41% are happy to receive promotions and discounts. Having most marketplaces within a click away, timely and well-placed communication with a consumer by the company or a peer can prompt an immediate purchase.</p>\n<h5>4. 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Digital shoppers</h5>\n<p class=\"has-small-font-size\">Even when not using digital technology to shop, 53% of fluid consumers will still revert to the internet while doing their regular shopping in order to compare prices and read reviews, with that said, it is also expected that global online sales will almost double by 2022.</p>\n<h5>7. Multi taskers</h5>\n<p class=\"has-small-font-size\">Digital technology has also enabled consumers to be able to multitask, this means that they can be at the gym, having dinner, talking to a friend, yet they would also be reading or writing reviews, buying things online, making reservations or simply reading about products and services they are interested in.</p>\n<h5>8. 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      "body": "<p>In short, FinTech is the contraction of Financial and Technology. It's an umbrella term describing everything related to technologies serving financial services, from technology bricks to products, services, and companies. </p>\n<p>While Technology has always been <a href=\"https://www.nytimes.com/2016/04/07/business/dealbook/the-evolution-of-fintech.html\">part of financial services and operations</a>, the term has seen a surprising increase of attention at the end of 2013.</p>\n<img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-19-at-11.35.12-AM-1.png?fit=800%2C234&amp;ssl=1\" alt=\"\" class=\"wp-image-268\"/><br/><i>Google Trends for search word \"FinTech\"</i>\n<p class=\"has-small-font-size\">I have my personal explanation (guess) about the time of this surge and I'm curious to hear about yours so drop a message in my inbox if you want to share views on this ^^ </p>\n<p style=\"font-size:26px\">FinTech ranges from traditional financial companies using new technologies, to totally new financial services offered by FinTech startups. </p>\n<p>Extrapolating on this range of FinTech, it is useful to observe 2 broad categories of actors: </p>\n<ol><li>Tech companies providing financial services</li><li>Financial companies integrating technologies into their services</li></ol>\n<p>But the line between these actors is far from net. And it's one of the reasons why regulation has a major role in shaping the FinTech space and the future of financial services.</p>\n<p>It seems obvious especially in the light of the recent financial and economic crisis that the financial sector is undergoing major transformations, which are at the root of the emergence of FinTech, for two main reasons:</p>\n<ol><li>The cost of operations is too high and is considerably reduced by the use of new technologies</li><li>Increased regulation and compliance requirements in post-2008 called upon inevitable transformation</li></ol>\n<blockquote class=\"wp-block-quote\"><p>To the extent that regulation played a role in the [big] banks' reluctance to re-enter the small-business market once the crisis had subsided, our findings reinforce the view that one of the consequences of heightened bank regulation may be to drive activity to the less-regulated, nonbank sector.</p><cite>Chen et Al (2017), The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets</cite>\n</blockquote>\n<p>I will elaborate further on the reasons and goals of the emergence of FinTech, but first let's take a closer look at what is considered FinTech through some examples:</p>\n<h4>Digital Banking</h4>\n<p>FinTech is a major part of Mobile and Web banking services. It is integral to the shift from traditional to digital banking and it represents the means by which banks have undertaken the <a href=\"https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/\">digitization</a> of their services to meet customers' new digital needs.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-11.15.08-AM.png?fit=800%2C373&amp;ssl=1\" alt=\"\" class=\"wp-image-271\"/><br/><i>Remote Cheque Deposit with <a href=\"https://www.qnb.com/sites/qnb/qnbqatar/page/en/enremotechequedeposit.html#\">QNB Mobile banking</a></i>\n<h4>Lending and Personal Finance</h4>\n<p>Digital technologies and platforms allowed the emergence of FinTech companies offering financial services traditionally offered by banks. Such is the case with <a href=\"https://www.lendingclub.com/\">LendingClub</a> which offers peer-to-peer lending, and <a href=\"https://www.kabbage.com/\">Kabbage</a> which offers <em>automated</em>-lending for small business loans.</p>\n<p>These new FinTech platforms offer innovative ways of credit scoring that allow faster application and process times. Besides reducing loan application and processing time from weeks to instants, this allows them to access business segments that are unaccessible for banks.</p>\n<center><img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-04-20-at-12.45.31-PM.png?fit=800%2C388&amp;ssl=1\" alt=\"\" class=\"wp-image-279\" width=\"693\" height=\"335\"/><br/><i>Screenshot from  <a href=\"https://www.business.org/finance/loans/best-small-business-loans/\">11 Best Small Business Loans of 2020</a></i></center>\n\n<ul><li><a href=\"https://www.kabbage.com/\">Kabbage</a> is an online FinTech company providing funding directly to small businesses and consumers through an automated lending platform. It leverages its capabilities of loan assessment through integration with business IT and data analysis (shipping &amp; accounting data). </li><li><a href=\"https://www.bluevine.com/\">BlueVine</a> , similar to Kabbage, also offers invoice financing where invoices act as collateral for a loan.</li><li><a href=\"http://lendingclub.com\">LendingClub</a> started as a Facebook app in  2007 and moved out to compete with other peer-to-peer lending platforms such as <a href=\"https://www.prosper.com/?__cf_chl_jschl_tk__=beb1a8252e4b72a6d1a556ab6650ef37d9dae333-1587374302-0-AT5HpoQg19gh6ug8EKNasjoWNWIUvyA-bHKiBgxK3Ayyzzno6C3i4Wfm-ojPu9_WX07tuF7fuEvMFmF6r8b1O4TJd72BUHpdwPOu13qmDoOSJPq4u574du77CHNiRHa0aH8VHuwK7SZXNGYBoxcq37hybymnSG3ExqC9Gb31sYW2RlcNN_RZ5c71axUQdz3nITyQxvZCZYnQnmQnGP2YED4T0cjxglMBP6ExCj4qoHVex6R7kj0x0olmse2ZbzTnFPEkkBFvf2i5rOomqr-ZKhGpmd9u4esx-UZxWMgheYJ4pCP3aNCGi4jvdGTJ2T4BZbRd-PTSdgeCqrugO_ZufUU\">Prosper</a> and <a href=\"https://www.zopa.com/?utm_campaign=AFFwiseclerkdotcom&amp;utm_medium=partner&amp;utm_source=AFFwiseclerkdotcom\">Zopa</a>.</li></ul>\n<center><img src=\"https://i0.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-11.56.27-AM.png?fit=800%2C489&amp;ssl=1\" alt=\"\" class=\"wp-image-278\" width=\"570\" height=\"348\"/></center>\n\n<h4>International Money Transfer</h4>\n<p>Finally, could FinTech be a website or a mobile app that makes international money transfers cheaper? </p>\n<p>Using Bitcoin protocol and other blockchain technology platforms is definitely much cheaper than inter-bank money transfers and international money exchanges like Western Union.</p>\n<img src=\"https://i1.wp.com/nadsnotes.com/wp-content/uploads/2020/04/Screen-Shot-2020-01-26-at-12.05.39-PM.png?fit=800%2C384&amp;ssl=1\" alt=\"\" class=\"wp-image-284\"/><br/><i><a href=\"http://cryptopay.me\">Cryptopay</a> web interface</i>\n<p>Today, theoretically speaking, anyone can transfer money overseas, almost instantaneously, cheaply and securely, without needing any financial intermediary. All they need to do is convert the money to a cryptocurrency of their choice and then send the amount from their wallet to the recipient's wallet. In most cases, the whole process takes few minutes.</p>\n<p>Wallets being free and blockchain transfer fees being almost null, the main cost associated with this kind of transfer is the cost of money exchange from the local fiat to crypto and from crypto back to fiat money. However, accessing an exchange platform might be a challenge in some countries and the process may require more time for people who don't have access to banking services. So to say, financial intermediaries are here to stay, with or without cryptocurrencies mass adoption. </p>\n<p>Beyond the individual and disintermediated case of blockchain money transfer, many companies use cryptocurrencies and blockchain technology to offer the possibility to transfer money overseas cheaply and securely. </p>\n<p>There are currently different categories of actors in this field:</p>\n<ol><li>Banks and traditional financial institutions using the technology to replace legacy settlement systems especially for cross-border payments</li><li>FinTech startups linking crypto-wallets to the possibility of spending cryptocurrencies directly with prepaid debit cards (Visa and Mastercard)</li><li>FinTech startups closer to neo-banks offering bank accounts  that integrate fiat and cryptocurrencies seamlessly</li></ol>\n<h2>FinTech is a bundle of technologies</h2>\n<p>It's easy to note that FinTech is all about bringing forward the power of digital technologies to provide the best experience in serving users' financial needs while reducing operational challenges for financial services providers. </p>\n<p>Blockchain technology presents a wide range of advantages that makes it seem like a silver bullet in FinTech. It solves the operational challenges of a traditionally siloed sector. And it opens the gate for a more diverse and so more competitive sector. However, the best of FinTech is yet to come and it lies in the convergence of several technologies.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/21/whats-fintech/ </em><hr/></center>",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. </p>\n<p>These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read more about business digitalization, I recommend the article <a href=\"https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\">Digital Success Requires Breaking Rules</a> by <a href=\"https://mitsloan.mit.edu/faculty/directory/jeanne-w-ross\">Jeanne Ross</a>, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a>.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
      "title": "From Digitization to Digitalization",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. </p>\n<p>These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read more about business digitalization, I recommend the following article by <a href=\"https://mitsloan.mit.edu/faculty/directory/jeanne-w-ross\">Jeanne Ross</a>, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a> published in the MIT Sloan Management Review :</p>\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps://mitsloan.mit.edu/faculty/directory/jeanne-w-ross\n</div></figure>\n<p></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
      "title": "From Digitization to Digitalization",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. </p>\n<p>These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read more about business digitalization, I recommend the following article by <a href=\"https://mitsloan.mit.edu/faculty/directory/jeanne-w-ross\">Jeanne Ross</a>, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a> published in the MIT Sloan Management Review :</p>\n<p><a href=\"https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\">Digital Success Requires Breaking Rules</a></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. </p>\n<p>These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"https://www.amazon.com/Fluid-Consumer-Generation-Branding-Digital/dp/0749478373\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read further about business digitalization, I recommend the following article by <a href=\"https://mitsloan.mit.edu/faculty/directory/jeanne-w-ross\">Jeanne Ross</a>, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a> published in the MIT Sloan Management Review :</p>\n<p><a href=\"https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\">Digital Success Requires Breaking Rules</a></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
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      "body": "<p>One of my intentions with this blog is to share a&nbsp;<em>realistically optimist</em>&nbsp;point of view on our world and society.</p>\n<p>Many of us are drawn into a very pessimistic feeling about where we are heading as humanity: with new climate change challenges, continued wars and poverty, the rise of extremism, loss of social cohesion…</p>\n<p class=\"has-normal-font-size\">We feel like our civilization is on a downtrend, heading to chaos and that it was all better before... <em>But this can not be further from true !</em></p>\n<p class=\"has-medium-font-size\">When we look at the data, we have never been better than we are today. We live longer, healthier, safer, wealthier…and&nbsp;even happier it seems!&nbsp;And according to researches, this is not only true in the Western world,&nbsp;<em>it's a GLOBAL TREND.</em></p>\n<p class=\"has-small-font-size\"><em>(And yes I hear all those who argue that the ways we measure this trend are questionable but please hold that judgment,&nbsp;just for now, ^^ thanks )</em></p>\n<p>One would think that the 1st to blame for this pessimism is&nbsp;our news and media industry, right?</p>\n<p>Well, I recently learned that<em>&nbsp;it's also rooted in our psychology as human beings.</em>&nbsp;<em>I can't wait to tell you more about the reasons in another article</em>&nbsp;:D</p>\n<p>But let's first stay focused on our world today.</p>\n<p>Maybe you heard about <a href=\"https://stevenpinker.com/biocv\">Steven Pinker</a>? He just wrote a second book showcasing all the data that prove we are living in the best era of all times and putting together the pieces of work done by scientists and researchers from around the world to remind us of the values of Enlightenment: those of <em>Reason, Science, Humanism, and Progress</em><strong>.</strong> The name of the book is <a href=\"https://www.amazon.com/Enlightenment-Now-Science-Humanism-Progress/dp/0525427570\">Enlightenment now</a>.</p>\n<h2>What is Enlightenment?</h2>\n<p>It is the name of an intellectual and philosophical movement in Europe during the 18th century. It is referred to as the&nbsp;<strong>Age of Reason</strong>&nbsp;or&nbsp;<strong>Century of Lights.</strong></p>\n<p>Back in the 18th century, Immanuel Kant, one of the major Enlightenment thinkers, defines enlightenment as:</p>\n<blockquote class=\"wp-block-quote\"><p><em>''Humankind's emergence from its self-incurred immaturity\", its ''lazy and cowardly'' submission to the ''dogmas and formulas'' of religious or political authority.</em></p>\n</blockquote>\n<p>Enlightenment's moto is&nbsp;<em><strong>''Dare to understand''</strong></em>&nbsp;and&nbsp;<strong>its foundational demand is freedom of thought and speech.</strong></p>\n<h3>Funny how this is still needed today...</h3>\n<p>But we must understand that it's our human nature that brings us back to the same old schemes.</p>\n<blockquote class=\"wp-block-quote\"><p>Not our evolution, not our modern conditions,&nbsp;it's our laziness and fear&nbsp;that will always enslave us to ignorance and suffering.</p>\n</blockquote>\n<p>We are victims of ourselves, no matter the time we are living in.</p>\n<p class=\"has-medium-font-size\">We are our own enemies and this I believe this is very good news! Because when we know our enemy, we can more easily defeat him, right? ;)</p>\n<p>Honestly, I was myself very pessimist about our world and future, and I remember I used to proudly think that I was just being realistic about it. I was one of those who believed that the challenges that we are facing are impossible to tackle because we are living in this individualistic, personal-interests oriented and money-driven society. I used to believe that our decline was inevitable and it was better to just accept it and try to make the most of my life and enjoy it as long as I can.</p>\n<p><em>But these beliefs contributed eventually to my own depression.</em></p>\n<p>How could one live happily with this consciously chosen despair and sense of fatality? What's the purpose of living if you are convinced that not only everything is getting worse but there is no solution to make it better or even stop it from getting worse.</p>\n<p>Then one day I realized that I was not only hurting myself with this ''realistically pessimist'' mindset, but I was also passively contributing to the said ''decline'' of our society.</p>\n<p>I was just accepting to lose a ''game'' without even ''playing''. </p>\n<p>And I like to choose this childish image of playing a game against our today challenges.&nbsp;<em>Why the hustle and violence of fighting against something we created ourselves and that contributed to our achieved progress?</em></p>\n<p>We just need to find new solutions to new problems incurred by our path of progress. So I changed my mindset and started looking for optimistic news.</p>\n<p class=\"has-medium-font-size\">And I was incredibly happy and surprised to find that our world is full of positive and smart people, doing what they love and finding innovative solutions to ''save the world'' and save people.</p>\n<p>Now I leave you with this definition of optimism according to the famous physicist David Deutsch from his wonderful book, The beginning of Infinity:</p>\n<blockquote class=\"wp-block-quote\"><p><em><strong>'' Optimism is the theory that all failures -all evils- are due to insufficient knowledge… Problems are inevitable, because our knowledge will always be infinitely far from complete. Some problems are hard, but it is a mistake to confuse hard problems with problems unlikely to be solved. Problems are soluble, and each particular evil is a problem that can be solved. An optimistic civilization is open and not afraid to innovate, and is based on traditions of criticism. Its institutions keep improving, and the most important knowledge that they embody is knowledge of how to detect and eliminate errors.''</strong></em></p>\n</blockquote>\n<p>Optimistically yours,</p>\n<p>Nad</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2018/05/09/optimism/ </em><hr/></center>",
      "title": "Choosing Optimism",
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      "body": "<p>One of my intentions with this blog is to share a&nbsp;<em>realistically optimist</em>&nbsp;point of view on our world and society.</p>\n<p>Many of us are drawn into a very pessimistic feeling about where we are heading as humanity: with new climate change challenges, continued wars and poverty, the rise of extremism, loss of social cohesion…</p>\n<p class=\"has-normal-font-size\">We feel like our civilization is on a downtrend, heading to chaos and that it was all better before... <em>But this can not be further from true !</em></p>\n<p class=\"has-medium-font-size\">When we look at the data, we have never been better than we are today. We live longer, healthier, safer, wealthier…and&nbsp;even happier it seems!&nbsp;And according to researches, this is not only true in the Western world,&nbsp;<em>it's a GLOBAL TREND.</em></p>\n<p class=\"has-small-font-size\"><em>(And yes I hear all those who argue that the ways we measure this trend are questionable but please hold that judgment,&nbsp;just for now, ^^ thanks )</em></p>\n<p>One would think that the 1st to blame for this pessimism is&nbsp;our news and media industry, right?</p>\n<p>Well, I recently learned that<em>&nbsp;it's also rooted in our psychology as human beings.</em>&nbsp;<em>I can't wait to tell you more about the reasons in another article</em>&nbsp;:D</p>\n<p>But let's first stay focused on our world today.</p>\n<p>Maybe you heard about <a href=\"https://stevenpinker.com/biocv\">Steven Pinker</a>? He just wrote a second book showcasing all the data that prove we are living in the best era of all times and putting together the pieces of work done by scientists and researchers from around the world to remind us of the values of Enlightenment: those of <em>Reason, Science, Humanism, and Progress</em><strong>.</strong> The name of the book is Enlightenment now.</p>\n<h2>What is Enlightenment?</h2>\n<p>It is the name of an intellectual and philosophical movement in Europe during the 18th century. It is referred to as the&nbsp;<strong>Age of Reason</strong>&nbsp;or&nbsp;<strong>Century of Lights.</strong></p>\n<p>Back in the 18th century, Immanuel Kant, one of the major Enlightenment thinkers, defines enlightenment as:</p>\n<blockquote class=\"wp-block-quote\"><p><em>''Humankind's emergence from its self-incurred immaturity\", its ''lazy and cowardly'' submission to the ''dogmas and formulas'' of religious or political authority.</em></p>\n</blockquote>\n<p>Enlightenment's moto is&nbsp;<em><strong>''Dare to understand''</strong></em>&nbsp;and&nbsp;<strong>its foundational demand is freedom of thought and speech.</strong></p>\n<h3>Funny how this is still needed today...</h3>\n<p>But we must understand that it's our human nature that brings us back to the same old schemes.</p>\n<blockquote class=\"wp-block-quote\"><p>Not our evolution, not our modern conditions,&nbsp;it's our laziness and fear&nbsp;that will always enslave us to ignorance and suffering.</p>\n</blockquote>\n<p>We are victims of ourselves, no matter the time we are living in.</p>\n<p class=\"has-medium-font-size\">We are our own enemies and this I believe this is very good news! Because when we know our enemy, we can more easily defeat him, right? ;)</p>\n<p>Honestly, I was myself very pessimist about our world and future, and I remember I used to proudly think that I was just being realistic about it. I was one of those who believed that the challenges that we are facing are impossible to tackle because we are living in this individualistic, personal-interests oriented and money-driven society. I used to believe that our decline was inevitable and it was better to just accept it and try to make the most of my life and enjoy it as long as I can.</p>\n<p><em>But these beliefs contributed eventually to my own depression.</em></p>\n<p>How could one live happily with this consciously chosen despair and sense of fatality? What's the purpose of living if you are convinced that not only everything is getting worse but there is no solution to make it better or even stop it from getting worse.</p>\n<p>Then one day I realized that I was not only hurting myself with this ''realistically pessimist'' mindset, but I was also passively contributing to the said ''decline'' of our society.</p>\n<p>I was just accepting to lose a ''game'' without even ''playing''. </p>\n<p>And I like to choose this childish image of playing a game against our today challenges.&nbsp;<em>Why the hustle and violence of fighting against something we created ourselves and that contributed to our achieved progress?</em></p>\n<p>We just need to find new solutions to new problems incurred by our path of progress. So I changed my mindset and started looking for optimistic news.</p>\n<p class=\"has-medium-font-size\">And I was incredibly happy and surprised to find that our world is full of positive and smart people, doing what they love and finding innovative solutions to ''save the world'' and save people.</p>\n<p>Now I leave you with this definition of optimism according to the famous physicist David Deutsch from his wonderful book, The beginning of Infinity:</p>\n<blockquote class=\"wp-block-quote\"><p><em><strong>'' Optimism is the theory that all failures -all evils- are due to insufficient knowledge… Problems are inevitable, because our knowledge will always be infinitely far from complete. Some problems are hard, but it is a mistake to confuse hard problems with problems unlikely to be solved. Problems are soluble, and each particular evil is a problem that can be solved. An optimistic civilization is open and not afraid to innovate, and is based on traditions of criticism. Its institutions keep improving, and the most important knowledge that they embody is knowledge of how to detect and eliminate errors.''</strong></em></p>\n</blockquote>\n<p>Optimistically yours,</p>\n<p>Nad</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2018/05/09/optimism/ </em><hr/></center>",
      "title": "Choosing Optimism",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. </p>\n<p>These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0749478373&amp;asins=0749478373&amp;linkId=656d616687e9fdda8a18b04c2a0a2d55&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;>     </iframe>\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read further about business digitalization, I recommend the following article by Jeanne Ross, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a> published in the MIT Sloan Management Review :</p>\n<p><a href=\"https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\">https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS</a></p>\n<p></p>\n<p></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0749478373&amp;asins=0749478373&amp;linkId=656d616687e9fdda8a18b04c2a0a2d55&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;>     </iframe>\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read further about business digitalization, I recommend the following article by Jeanne Ross, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a> published in the MIT Sloan Management Review :</p>\n<p><a href=\"https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\">https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS</a></p>\n<p></p>\n<p></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. </p>\n<p>At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. However, the advent of cloud computing and the rise of cloud service providers in most recent years gave birth to another transformation. Companies are finally allowed to refocus on their core business activities and leave the infrastructure management to specialized service providers, supervised by the new in-house IT specialists.</p>\n<p>This is the most basic example of how the <em>digitization</em> of companies' internal processes impacted: 1 - work processes of individuals, 2- company operations, and 3- business organization.</p>\n<p>On the other hand, digital technologies have also allowed <em>completely</em> <em>new economic business models</em> to emerge. Such is the case with the rise of new market places like eBay, Uber and Airbnb, and the prevalent media and communication platforms like Facebook, WhatsApp, or the internet giant Google. </p>\n<p>This category of businesses typically represents what digitalization is about. Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) had replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0749478373&amp;asins=0749478373&amp;linkId=656d616687e9fdda8a18b04c2a0a2d55&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;>     </iframe>\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. This competition, among other reasons, led to the establishment of open banking protocols to facilitate the movement of clients between banks. </p>\n<p>I will dig deeper into the digital transformation of the banking sector and the future of financial services in the next article.</p>\n<p>If you wish to read further about business digitalization, I recommend the following article by Jeanne Ross, the principal research scientist for <a href=\"http://cisr.mit.edu/\">MIT’s Center for Information Systems Research</a> published in the MIT Sloan Management Review :</p>\n<p><a href=\"https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\">https://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS</a></p>\n<p></p>\n<p></p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/20/from-digitization-to-digitalization/ </em><hr/></center>",
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      "body": "<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. There has been a global trend of accelerated change brought by progress in all industries, especially made possible by our use of digital tools.</p>\n<p>Through this article, I would like to give you in short, the sense of depth to this currently operating transformation.</p>\n<p>We all know that ever since the advent of computers and networks in the 80s and 90s, the way we work, the way we operate companies and the way we conduct business, have all been increasingly impacted and transformed.  </p>\n<p>Almost all industries have seen their internal business practices shifting from paper-heavy to purely-digital documentation procedures. Digital technologies brought more efficiency to the workplace, improving both time and quality management of business processes. At first, this new setting required companies to build their in-house IT capabilities to manage the subsequent infrastructure. 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This category of businesses typically represents what digitalization is about.</p>\n<p>Beyond the before mentioned <em>Digitization</em> of processes, <em>Digitalisation</em> of business activities is a much more powerful driver for economic growth in the digital realm.</p>\n<p>It has been a decade now since the Big Tech - or the GAFAM (Google, Amazon, Facebook, Apple &amp; Microsoft) had replaced the Big Oil - the energy giants such as Exxon Mobile, BP, and Gazprom - in terms of market capitalization, and outpaced the growth of the Big Media - traditional media companies such as AT&amp;T and 21st Century Fox. These changes in the market brought by the expression \"Data is the new oil\". Not only related to the replacement of oil companies, but the expression also reflects the provenly high value of data.</p>\n<blockquote class=\"wp-block-quote\"><p>Digitalization demands a profound understanding of digital customers' needs. Consequently, it often demands a bold reshape of the way a good or service is offered to the customer.</p>\n</blockquote>\n<p>We have seen many traditional retail businesses, from banking to clothing, build their online presence to sustain and grow their market shares. Almost all industries realized the importance of becoming digitally present for their online clients. And so, after digitizing their activity, they digitized their presence in the market. However, they didn't necessarily succeed in digitalizing their activity to meet the new needs of their online clients. </p>\n<p>The digital customer, referred to as<a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0749478373&amp;asins=0749478373&amp;linkId=656d616687e9fdda8a18b04c2a0a2d55&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;>     </iframe>\"> the fluid consumer by <strong><em>Teo Correia</em></strong></a> is somehow different from the physical world customer. And here lies the challenge of digitalization, especially for established businesses that are faced with competitors that are born-digital and directly address the new clients' needs.  </p>\n<p>This is typically the case of traditional banks in competition with neo-banks, and other new financial service providers. They not only struggle to attract new clients but they also struggle to keep the old ones. 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      "body": "<figure class=\"wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-mit-sloan-management-review\"><div class=\"wp-block-embed__wrapper\">\nhttps://sloanreview.mit.edu/article/digital-success-requires-breaking-rules/?utm_source=newsletter&amp;utm_medium=email&amp;utm_content=address%20the%20challenge%20of%20redesigning%20responsibilities&amp;utm_campaign=0730DCS\n</div></figure>\n<p>The history of humanity is undeniably marked by technological evolution. We, as a species, are particularly characterized by Technology. In other terms, our human evolution is tied to our knowledge and use of techniques and processes of producing goods and providing services. </p>\n<p>The digital transformation we are witnessing today is no different from previous technological transformations. 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      "body": "<p>Before I start telling you about all the wonderful and mundane things revolving around blockchain technology, let's first revisit some terms.&nbsp;</p>\n<p>To do so, I'm going to use a couple of statements and provide a short explanation of the terms used in these statements.</p>\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container\"><h4>A <em>blockchain</em> network is designed and designated by its <em>blockchain</em> protocol, and sometimes powered by a <em>blockchain</em> token, often referred to as cryptocurrency.</h4>\n</div></div>\n<p>As seen in <a href=\"https://nadsnotes.com/2019/04/06/what-is-blockchain/\">a previous article</a>, technically speaking, the blockchain is the data structure of the ledger. And the use of the term blockchain is highly contextual. However, when we talk about this or that blockchain we are most probably referring to the main network. </p>\n<p>In the case of bitcoin, the sentence becomes:</p>\n<blockquote class=\"wp-block-quote\"><p><strong>Bitcoin is a network designed and designated by the Bitcoin protocol and powered by bitcoin, the network's native token, the famous cryptocurrency.</strong></p>\n</blockquote>\n<p>Maybe the most recurring confusion (maybe not anymore?) is the relationship between bitcoin (lower case), the cryptocurrency (token); and Bitcoin (upper case), the blockchain underlying it (the network running the protocol).&nbsp;</p>\n<p>To clarify how these terms relate to each other, I like using the analogy with an engine, something we are all familiar with.</p>\n<h6>Bitcoin, the <em>blockchain</em> token,  is the power supply for the engine.</h6>\n<p class=\"has-small-font-size\">A token, as defined by the Cambridge dictionary - is a round&nbsp;piece&nbsp;of&nbsp;metal&nbsp;or&nbsp;plastic&nbsp;that is used&nbsp;instead&nbsp;of&nbsp;money&nbsp;in some&nbsp;machines, for&nbsp;example, to get&nbsp;food&nbsp;or&nbsp;drink&nbsp;out of a&nbsp;vending&nbsp;machine, use a&nbsp;car&nbsp;park, etc.</p>\n<p>A token in blockchain technology is a digital asset created and used on the network according to its design purposes. It could be fungible or nonfungible. And in  all cases it has a utility, either to the network or to its holder.</p>\n<p>*To better understand why bitcoin is the fuel of the network, you can refer to my post about how Bitcoin works.</p>\n<h6>Bitcoin, the <em>blockchain</em> network, is the running engine.</h6>\n<p class=\"has-small-font-size\">A network, as defined by the Cambridge dictionary - is a&nbsp;large&nbsp;system&nbsp;consisting of many&nbsp;similar&nbsp;parts&nbsp;that are&nbsp;connected to&nbsp;allow&nbsp;communication&nbsp;between the&nbsp;parts, or between the&nbsp;parts&nbsp;and a&nbsp;control&nbsp;center.</p>\n<p>We see from the definition that a network could be centralized or decentralized. In the case of blockchain technology, the network is structured in a decentralized manner into a peer-to-peer network.</p>\n<h6>Bitcoin, the <em>blockchain</em> protocol, is the design - the blueprint - of the engine.</h6>\n<p class=\"has-small-font-size\">A protocol, as defined by the Cambridge dictionary - is a set of&nbsp;technical&nbsp;rules&nbsp;that&nbsp;control&nbsp;the&nbsp;exchange&nbsp;of&nbsp;information&nbsp;between different&nbsp;computers&nbsp;or&nbsp;computer&nbsp;networks.</p>\n<h4>Bitcoin is an open-source blockchain.</h4>\n<p>This means that the protocol is publicly accessible. Anyone can look at it, audit it, copy it, modify it and use it for other purposes.</p>\n<h4>Let's fork it.</h4>\n<p>Copying and using a blockchain protocol creates what we call a fork. </p>\n<p>If someone starts running their own copy of the protocol, modified or not modified, it's like they created a new engine and started running it. They create a new network, fueled by a new version of the cryptocurrency. If enough people join in running the same protocol, the new network grows in size and the cryptocurrency eventually gains value.</p>\n<p>As a funny example, and I'm far from promoting it, Dogecoin - the blockchain and its cryptocurrency - were created from a copy of litecoin protocol, which is itself a modified copy of bitcoin protocol. The founder launched it in 2013 as a joke and named it after his dog. At that time, many altcoins - alternative coins (alternatives to bitcoin) - were created by forking the bitcoin protocol, following the 2013 bitcoin price surge. Today, it's ranked 32nd among more than 2000 cryptocurrencies by its market cap, exceeding 200 million dollars in capitalization...</p>\n<p>In the next article, we will discuss the different types of blockchains: public &amp; private, permissionned &amp; permissionless.</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2020/04/08/general-terms/ </em><hr/></center>",
      "title": "General Terms",
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      "body": "<p>One of my intentions with this blog is to share a&nbsp;<em>realistically optimist</em>&nbsp;point of view on our world and society.</p>\n<p>Many of us are drawn into a very pessimistic feeling about where we are heading as humanity: with new climate change challenges, continued wars and poverty, the rise of extremism, loss of social cohesion…</p>\n<p class=\"has-normal-font-size\">We feel like our civilization is on a downtrend, heading to chaos and that it was all better before... <em>But this can not be further from true !</em></p>\n<p class=\"has-medium-font-size\">When we look at the data, we have never been better than we are today. We live longer, healthier, safer, wealthier…and&nbsp;even happier it seems!&nbsp;And according to researches, this is not only true in the Western world,&nbsp;<em>it's a GLOBAL TREND.</em></p>\n<p class=\"has-small-font-size\"><em>(And yes I hear all those who argue that the ways we measure this trend are questionable but please hold that judgment,&nbsp;just for now, ^^ thanks )</em></p>\n<p>One would think that the 1st to blame for this pessimism is&nbsp;our news and media industry, right?</p>\n<p>Well, I recently learned that<em>&nbsp;it's also rooted in our psychology as human beings.</em>&nbsp;<em>I can't wait to tell you more about the reasons in another article</em>&nbsp;:D</p>\n<p>But let's first stay focused on our world today.</p>\n<p>Maybe you heard about <a href=\"https://stevenpinker.com/biocv\">Steven Pinker</a>? He just wrote a second book showcasing all the data that prove we are living in the best era of all times and putting together the pieces of work&nbsp;done by scientists and researchers from around the world&nbsp;to&nbsp;remind us of the values of Enlightenment: those of&nbsp;<em>Reason, Science, Humanism, and Progress</em><strong>.</strong>&nbsp;The name of the book is <a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0143111388&amp;asins=0143111388&amp;linkId=5bf5b2604437785059aa3449f010156b&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;>     </iframe>\">Enlightenment now</a>.</p>\n<h2>What is Enlightenment?</h2>\n<p>It is the name of an intellectual and philosophical movement in Europe during the 18th century. It is referred to as the&nbsp;<strong>Age of Reason</strong>&nbsp;or&nbsp;<strong>Century of Lights.</strong></p>\n<p>Back in the 18th century, Immanuel Kant, one of the major Enlightenment thinkers, defines enlightenment as:</p>\n<blockquote class=\"wp-block-quote\"><p><em>''Humankind's emergence from its self-incurred immaturity\", its ''lazy and cowardly'' submission to the ''dogmas and formulas'' of religious or political authority.</em></p>\n</blockquote>\n<p>Enlightenment's moto is&nbsp;<em><strong>''Dare to understand''</strong></em>&nbsp;and&nbsp;<strong>its foundational demand is freedom of thought and speech.</strong></p>\n<h3>Funny how this is still needed today...</h3>\n<p>But we must understand that it's our human nature that brings us back to the same old schemes.</p>\n<blockquote class=\"wp-block-quote\"><p>Not our evolution, not our modern conditions,&nbsp;it's our laziness and fear&nbsp;that will always enslave us to ignorance and suffering.</p>\n</blockquote>\n<p>We are victims of ourselves, no matter the time we are living in.</p>\n<p class=\"has-medium-font-size\">We are our own enemies and this I believe this is very good news! Because when we know our enemy, we can more easily defeat him, right? ;)</p>\n<p>Honestly, I was myself very pessimist about our world and future, and I remember I used to proudly think that I was just being realistic about it. I was one of those who believed that the challenges that we are facing are impossible to tackle because we are living in this individualistic, personal-interests oriented and money-driven society. I used to believe that our decline was inevitable and it was better to just accept it and try to make the most of my life and enjoy it as long as I can.</p>\n<p><em>But these beliefs contributed eventually to my own depression.</em></p>\n<p>How could one live happily with this consciously chosen despair and sense of fatality? What's the purpose of living if you are convinced that not only everything is getting worse but there is no solution to make it better or even stop it from getting worse.</p>\n<p>Then one day I realized that I was not only hurting myself with this ''realistically pessimist'' mindset, but I was also passively contributing to the said ''decline'' of our society.</p>\n<p>I was just accepting to lose a ''game'' without even ''playing''. </p>\n<p>And I like to choose this childish image of playing a game against our today challenges.&nbsp;<em>Why the hustle and violence of fighting against something we created ourselves and that contributed to our achieved progress?</em></p>\n<p>We just need to find new solutions to new problems incurred by our path of progress. So I changed my mindset and started looking for optimistic news.</p>\n<p class=\"has-medium-font-size\">And I was incredibly happy and surprised to find that our world is full of positive and smart people, doing what they love and finding innovative solutions to ''save the world'' and save people.</p>\n<p>Now I leave you with this definition of optimism according to the famous physicist David Deutsch from his wonderful book, The beginning of Infinity:</p>\n<blockquote class=\"wp-block-quote\"><p><em><strong>'' Optimism is the theory that all failures -all evils- are due to insufficient knowledge… Problems are inevitable, because our knowledge will always be infinitely far from complete. Some problems are hard, but it is a mistake to confuse hard problems with problems unlikely to be solved. Problems are soluble, and each particular evil is a problem that can be solved. An optimistic civilization is open and not afraid to innovate, and is based on traditions of criticism. Its institutions keep improving, and the most important knowledge that they embody is knowledge of how to detect and eliminate errors.''</strong></em></p>\n</blockquote>\n<p>Optimistically yours,</p>\n<p>Nad</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2018/05/09/optimism/ </em><hr/></center>",
      "title": "Choosing Optimism",
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      "body": "<p>One of my intentions with this blog is to share a <em>realistically optimist</em> point of view on our world and society.</p>\n<p>Many of us are drawn into a very pessimistic feeling about where we are heading as humanity: with new climate change challenges, continued wars and poverty, the rise of extremism, loss of social cohesion…</p>\n<p class=\"has-normal-font-size\">We feel like our civilization is on a downtrend, heading to chaos and that it was all better before... <em>But this can not be further from true !</em></p>\n<p class=\"has-medium-font-size\">When we look at the data, we have never been better than we are today. We live longer, healthier, safer, wealthier…and even happier it seems! And according to researches, this is not only true in the Western world, <em>it's a GLOBAL TREND.</em></p>\n<p class=\"has-small-font-size\"><em>(And yes I hear all those who argue that the ways we measure this trend are questionable but please hold that judgment, just for now, ^^ thanks )</em></p>\n<p>One would think that the 1st to blame for this pessimism is our news and media industry, right?</p>\n<p>Well, I recently learned that<em> it's also rooted in our psychology as human beings.</em> <em>I can't wait to tell you more about the reasons in another article</em> :D</p>\n<p>But let's first stay focused on our world today.</p>\n<p>Maybe you heard about <a href=\"https://stevenpinker.com/biocv\">Steven Pinker</a>? He just wrote a second book showcasing all the data that prove we are living in the best era of all times and putting together the pieces of work done by scientists and researchers from around the world to remind us of the values of Enlightenment: those of <em>Reason, Science, Humanism, and Progress</em><strong>.</strong> The name of the book is <a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0143111388&amp;asins=0143111388&amp;linkId=5bf5b2604437785059aa3449f010156b&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;&gt;     </iframe&gt;\">Enlightenment now</a>.</p>\n<h2>What is Enlightenment?</h2>\n<p>It is the name of an intellectual and philosophical movement in Europe during the 18th century. It is referred to as the&nbsp;<strong>Age of Reason</strong>&nbsp;or&nbsp;<strong>Century of Lights.</strong></p>\n<p>Back in the 18th century, Immanuel Kant, one of the major Enlightenment thinkers, defines enlightenment as:</p>\n<blockquote class=\"wp-block-quote\"><p><em>''Humankind's emergence from its self-incurred immaturity\", its ''lazy and cowardly'' submission to the ''dogmas and formulas'' of religious or political authority.</em></p>\n</blockquote>\n<p>Enlightenment's moto is&nbsp;<em><strong>''Dare to understand''</strong></em>&nbsp;and&nbsp;<strong>its foundational demand is freedom of thought and speech.</strong></p>\n<h3>Funny how this is still needed today...</h3>\n<p>But we must understand that it's our human nature that brings us back to the same old schemes.</p>\n<blockquote class=\"wp-block-quote\"><p>Not our evolution, not our modern conditions, it's our laziness and fear that will always enslave us to ignorance and suffering.</p>\n</blockquote>\n<p>We are victims of ourselves, no matter the time we are living in.</p>\n<p class=\"has-medium-font-size\">We are our own enemies and this I believe this is very good news! Because when we know our enemy, we can more easily defeat him, right? ;)</p>\n<p>Honestly, I was myself very pessimist about our world and future, and I remember I used to proudly think that I was just being realistic about it. I was one of those who believed that the challenges that we are facing are impossible to tackle because we are living in this individualistic, personal-interests oriented and money-driven society. I used to believe that our decline was inevitable and it was better to just accept it and try to make the most of my life and enjoy it as long as I can.</p>\n<p><em>But these beliefs contributed eventually to my own depression.</em></p>\n<p>How could one live happily with this consciously chosen despair and sense of fatality? What's the purpose of living if you are convinced that not only everything is getting worse but there is no solution to make it better or even stop it from getting worse.</p>\n<p>Then one day I realized that I was not only hurting myself with this ''realistically pessimist'' mindset, but I was also passively contributing to the said ''decline'' of our society.</p>\n<p>I was just accepting to lose a ''game'' without even ''playing''. </p>\n<p>And I like to choose this childish image of playing a game against our today challenges. <em>Why the hustle and violence of fighting against something we created ourselves and that contributed to our achieved progress?</em></p>\n<p>We just need to find new solutions to new problems incurred by our path of progress. So I changed my mindset and started looking for optimistic news.</p>\n<p class=\"has-medium-font-size\">And I was incredibly happy and surprised to find that our world is full of positive and smart people, doing what they love and finding innovative solutions to ''save the world'' and save people.</p>\n<p>Now I leave you with this definition of optimism according to the famous physicist David Deutsch from his wonderful book, The beginning of Infinity:</p>\n<blockquote class=\"wp-block-quote\"><p><em><strong>'' Optimism is the theory that all failures -all evils- are due to insufficient knowledge… Problems are inevitable, because our knowledge will always be infinitely far from complete. Some problems are hard, but it is a mistake to confuse hard problems with problems unlikely to be solved. Problems are soluble, and each particular evil is a problem that can be solved. An optimistic civilization is open and not afraid to innovate, and is based on traditions of criticism. Its institutions keep improving, and the most important knowledge that they embody is knowledge of how to detect and eliminate errors.''</strong></em></p>\n</blockquote>\n<p>My blog is where I'll be sharing my commitment to purposeful knowledge, one that inspires optimism and pushes us forward.</p>\n<p>I hope you share my interest in this and that together we contribute to the&nbsp;<strong>everlasting, sustainable, progress of our society.</strong></p>\n<p>Optimistically yours,</p>\n<p>Nad</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2018/05/09/optimism/ </em><hr/></center>",
      "title": "Choosing Optimism",
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      "body": "<p>One of my intentions with this blog is to share a <em>realistically optimist</em> point of view on our world and society.</p>\n<p><em>Many of us are drawn into a very pessimistic feeling about where we are heading as humanity: with new climate change challenges, continued wars and poverty, the rise of extremism, loss of social cohesion…</em></p>\n<p class=\"has-normal-font-size\">We feel like our civilization is on a downtrend, heading to chaos and that it was all better before... But this can not be further from true !</p>\n<p class=\"has-medium-font-size\">When we look at the data, we have never been better than we are today. We live longer, healthier, safer, wealthier…and even happier it seems! And according to researches, this is not only true in the Western world, <em>it's a GLOBAL TREND.</em></p>\n<p class=\"has-small-font-size\"><em>(And yes I hear all those who argue that the ways we measure this trend are questionable but please hold that judgment, just for now, ^^ thanks )</em></p>\n<p>One would think that the 1st to blame for this pessimism is our news and media industry, right?</p>\n<p>Well, I recently learned that<em> it's also rooted in our psychology as human beings.</em> <em>I can't wait to tell you more about the reasons in another article</em> :D</p>\n<p>But let's first stay focused on our world today.</p>\n<p>Maybe you heard about <a href=\"https://stevenpinker.com/biocv\">Steven Pinker</a>? He just wrote a second book showcasing all the data that prove we are living in the best era of all times and putting together the pieces of work done by scientists and researchers from around the world to remind us of the values of Enlightenment: those of <em>Reason, Science, Humanism, and Progress</em><strong>.</strong> The name of the book is <a href=\"http://<iframe style=&quot;width:120px;height:240px;&quot; marginwidth=&quot;0&quot; marginheight=&quot;0&quot; scrolling=&quot;no&quot; frameborder=&quot;0&quot; src=&quot;//ws-na.amazon-adsystem.com/widgets/q?ServiceVersion=20070822&amp;OneJS=1&amp;Operation=GetAdHtml&amp;MarketPlace=US&amp;source=ac&amp;ref=tf_til&amp;ad_type=product_link&amp;tracking_id=nadsnotes-20&amp;marketplace=amazon&amp;region=US&amp;placement=0143111388&amp;asins=0143111388&amp;linkId=5bf5b2604437785059aa3449f010156b&amp;show_border=false&amp;link_opens_in_new_window=true&amp;price_color=333333&amp;title_color=0066c0&amp;bg_color=ffffff&quot;&gt;     </iframe&gt;\">Enlightenment now</a>.</p>\n<h2>What is Enlightenment?</h2>\n<p>It is the name of an intellectual and philosophical movement in Europe during the 18th century. It is referred to as the&nbsp;<strong>Age of Reason</strong>&nbsp;or&nbsp;<strong>Century of Lights.</strong></p>\n<p>Back in the 18th century, Immanuel Kant, one of the major Enlightenment thinkers, defines enlightenment as:</p>\n<blockquote class=\"wp-block-quote\"><p><em>''Humankind's emergence from its self-incurred immaturity\", its ''lazy and cowardly'' submission to the ''dogmas and formulas'' of religious or political authority.</em></p>\n</blockquote>\n<p>Enlightenment's moto is&nbsp;<em><strong>''Dare to understand''</strong></em>&nbsp;and&nbsp;<strong>its foundational demand is freedom of thought and speech.</strong></p>\n<h3>Funny how this is still needed today...</h3>\n<p>But we must understand that it's our human nature that brings us back to the same old schemes.</p>\n<blockquote class=\"wp-block-quote\"><p>Not our evolution, not our modern conditions, it's our laziness and fear that will always enslave us to ignorance and suffering.</p>\n</blockquote>\n<p>We are victims of ourselves, no matter the time we are living in.</p>\n<p class=\"has-medium-font-size\">We are our own enemies and this I believe is very good news, because when we know our enemy, we can more easily defeat him, right? ;)</p>\n<p>Honestly, I was myself very pessimist about our world and future, and I remember I used to proudly think that I was just being realistic about it. I was one of those who believed that the challenges that we are facing are impossible to tackle because we are living in this individualistic, personal-interests oriented and money-driven society. I used to believe that our decline was inevitable and it was better to just accept it and try to make the most of my life and enjoy it as long as I can.</p>\n<p><em>But these beliefs contributed eventually to my own depression.</em></p>\n<p>How could one live happily with this consciously chosen despair and sense of fatality? What's the purpose of living if you are convinced that not only everything is getting worse but there is no solution to make it better or even stop it from getting worse.</p>\n<p>Then one day I realized that I was not only hurting myself with this ''realistically pessimist'' mindset, but I was also passively contributing to the said ''decline'' of our society.</p>\n<p>I was just accepting to lose a ''game'' without even ''playing''. And I like to choose this childish image of playing a game against our today challenges.&nbsp;<strong>Why the hustle and violence of fighting against something we created ourselves and that contributed to our achieved progress?</strong></p>\n<p>We just need to find new solutions to new problems incurred by our path of progress. So I changed my mindset and started looking for optimistic news.</p>\n<p class=\"has-medium-font-size\">And I was incredibly happy and surprised to find that our world is full of positive and smart people, doing what they love and finding innovative solutions to ''save the world'' and save people.</p>\n<p>Now I leave you with this definition of optimism according to the famous physicist David Deutsch from his wonderful book, The beginning of Infinity:</p>\n<blockquote class=\"wp-block-quote\"><p><em><strong>'' Optimism is the theory that all failures -all evils- are due to insufficient knowledge… Problems are inevitable, because our knowledge will always be infinitely far from complete. Some problems are hard, but it is a mistake to confuse hard problems with problems unlikely to be solved. Problems are soluble, and each particular evil is a problem that can be solved. An optimistic civilization is open and not afraid to innovate, and is based on traditions of criticism. Its institutions keep improving, and the most important knowledge that they embody is knowledge of how to detect and eliminate errors.''</strong></em></p>\n</blockquote>\n<p>My blog is where I'll be sharing my commitment to purposeful knowledge, one that inspires optimism and pushes us forward.</p>\n<p>I hope you share my interest in this and that together we contribute to the&nbsp;<strong>everlasting, sustainable, progress of our society.</strong></p>\n<p>Optimistically yours,</p>\n<p>Nad</p>\n <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://nadsnotes.com/2018/05/09/optimism/ </em><hr/></center>",
      "title": "Choosing Optimism",
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