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Metaverse, Virtual world, Metaverse Consulting

Understanding Metaverse Consulting

By / Insights / February 3, 2023

What is Metaverse Consulting?

Metaverse, Virtual world, Metaverse Consulting

Metaverse Consulting refers to the professional services that help businesses and organizations understand, plan, and implement solutions within the metaverse – a virtual world or shared space where users can interact in a seemingly real environment. This can include virtual reality, AR , and other immersive technologies. The services offered by this domain can include strategy, design, development, and operations support.

What is NFT consulting?

metaverse nft marketplaces, NFTs, companies using NFTs

NFT (Non-Fungible Token) Consulting refers to the professional services that help businesses and organizations understand, plan, and implement solutions involving NFTs. NFTs are unique digital assets that represent ownership of a specific item or piece of content, such as an artwork, collectible, or in-game item, using blockchain technology. NFT Consulting services can include market analysis, token design and creation, platform integration, and post-launch support.

Understanding Virtual Worlds

virtual world, metaverse application, metaverse project

A virtual world is a digital environment that allows users to interact with each other and with virtual objects and experiences. Virtual worlds can be accessed through various devices, such as computers, VR headsets, and mobile devices. Companies who are looking out to step into this domain don’t need to go to different visiting places. Your search ends here!

They can be used for a variety of purposes, such as gaming, education, social interaction, and business. Virtual worlds often allow users to create custom avatars, build and decorate virtual spaces, and participate in a variety of virtual experiences, such as games, events, and social activities.

cyber security, digital security, VR connect,

Virtual worlds can be designed to be highly immersive and interactive, providing users with a sense of presence and agency within the virtual environment. Understanding virtual worlds is important for businesses, educators, and individuals seeking to leverage the potential of virtual environments for various purposes.

Tokens, augmented reality, 3D environment

Through digitizing real estate and building metaverse NFT marketplaces, smart contracts and decentralized finance can help game developers connect investors and consultants with infrastructure that helps to develop value for customers and clients. Investors have been flooding the market trying to develop value through these technologies for their customers.

Some of the major real estate metaverse project use Unity unreal engine for hosting events and building a brand experience in real life. Such metaverse applications provide an actionable roadmap for these virtual items and virtual worlds to help companies provide clients and customers a fully virtual life.

Metaverse and AI in the virtual world

metaverse applications, AI, artificial intelligence

The integration of artificial intelligence (AI) into metaverse environments is an emerging field that has the potential to greatly enhance the virtual experiences available in these digital environments. AI can be used in virtual worlds to provide personalized experiences, automated decision-making, and realistic simulations and interactions.

AI-powered virtual environments can also be used to train and evaluate AI models in a controlled, virtual environment.

AI, next gen gaming, VR, AI integration

Examples of AI-powered metaverse experiences include virtual customer service agents, conversational AI-powered virtual assistants, and realistic virtual environments for gaming and simulation purposes.

The integration of AI into metaverse environments has the potential to transform the way people interact with virtual environments and experiences, offering new possibilities for education, entertainment, and business.

Metaverse Development Companies

software development, metaverse applications, metaverse project

In the physical world, metaverse development and any metaverse project will focus on building a virtual reality and a digital economy in the metaverse world. As a metaverse development company, our job at RFC is to create smart contracts and business models for metaverse companies, so that they can raise metaverse investments.

Our metaverse vision is to build metaverse projects and help gaming companies in business transformation and building a digital world, building physical presence as well as harnessing blockchain technologies and building digital experiences, virtual tours for gathering new audiences and helping a business to target audience by selling digital goods.

Immersive Experience, Interactive World, Virtual Ecosystem

What are common metaverse development Services?

interactive world, Virtual Reality Ecosystem, Digital Space

Common metaverse services include:

Virtual Reality (VR) design and development.

Augmented Reality (AR) design and development.

3D modeling and animation.

Metaverse platform integration.

User experience (UX) and user interface (UI) design.

Metaverse event planning and execution.

In-metaverse monetization strategy.

Virtual asset creation and management.

Metaverse platform hosting and maintenance.

Metaverse community management and moderation.

Virtual Reality (VR) design and development.

Virtual (VR), virtual environment, VR companies

Virtual Reality (VR) design and development involves creating immersive virtual environments for users to interact with by the brands. It includes the creation of 3D models, animation, user interface and user experience design, as well as programming and implementation of VR technology.

VR can be used for a wide range of applications, including gaming, simulation, training, education, and more. A VR design and development team typically consists of artists, designers, and developers with expertise in VR technology, game development, and related areas.

Augmented Reality (AR) design and development.

Develop, Augmented Reality, (AR) design

(AR) design and development involves building physical and virtual elements through research that are superimposed over the real world, enhancing the user’s experience. AR can be experienced through devices such as smartphones, tablets, or specialized AR headsets.

AR design and development services can include building 3D models and animations, designing user interfaces and experiences, and programming and implementing AR technology.

AR can be used for a wide range of applications, including gaming, education, marketing, and more. An AR design and development team typically consists of artists, designers, and developers with expertise in AR technology, mobile app development, and related areas.

online gaming community, virtual world explorers, VR fans

3D modeling and animation.

market place, NFT trading, digital economy, 3D modeling

3D modeling and animation in the metaverse refers to the creation of virtual objects, characters, environments, and animations that are used to populate virtual worlds and environments for any business.

3D modeling involves building detailed 3D representations of objects and characters, while animation involves adding movement and interactivity to these objects. Both 3D modeling and animation are critical components of virtual reality and its design and development, and are used to create immersive and interactive virtual experiences.

Digital Life, Virtual Reality Gaming, Virtual Reality Content

Teams working on 3D modeling and animation in the virtual reality typically consist of 3D artists and animators with expertise in using 3D software and tools to create high-quality models and animations.

Metaverse platform integration.

business plans, business models, VR social platforms

Metaverse platform integration refers to the process of integrating various components, such as virtual reality or AR systems, content management systems, and blockchain technology, to create a seamless VR experience.

This platforms integration services can include connecting various systems and platforms, developing custom APIs and integrations, and ensuring that all systems work together smoothly to deliver an optimal experience for customers. These services are critical for building a functional and enjoyable VR, and are typically provided by a team of developers with expertise in platform integration, digital software, and related areas.

User experience (UX) and user interface (UI) design

User experience (UX), user interface (UI), web developers

User experience (UX) and user interface (UI) design in the metaverse refer to the process of designing the interactions and interfaces that customers will have with virtual environments and objects within the metaverse.

This includes designing the flow of experiences, making intuitive controls and interfaces, and ensuring that they have a seamless and enjoyable experience within virtual environments. UX and UI design for the metaverse can include making custom avatars, designing virtual spaces and environments, and developing intuitive controls and interactions for virtual objects and experiences. Teams working on UX and UI design in the metaverse typically consist of designers and developers with expertise in UX/UI design, game design, and related areas.

Metaverse event planning and execution

event planning, digital marketing, hosting events

Metaverse event planning and execution refers to the process of organizing and executing digital and virtual events within the virtual reality, such as concerts, conferences, and trade shows. This involves creating virtual environments and experiences that are tailored to the specific needs of the event, including designing virtual stages, audience spaces, and interactive experiences. virtual reality event planning and execution services can include event concept evolution, platform integration, and event management.

These services are critical for delivering successful virtual events and creating engaging experiences for attendees. Teams working on VR event planning and execution typically consist of event planners, designers, and developers with expertise in virtual event production and management.

In-metaverse monetization strategy

metaverse applications, bitcoin, monetization, strategy development

In-metaverse monetization strategy refers to the process of generating revenue within the metaverse through various means such as virtual item sales, advertising, and subscriptions. A successful in-metaverse monetization strategy takes into account the unique nature of virtual environments, as well as the behaviors and preferences of metaverse users.

This may involve building virtual goods and experiences that users are willing to pay for, designing advertising experiences that are non-intrusive and engaging, or offering premium subscriptions for exclusive content or benefits. In-metaverse monetization strategies are critical for ensuring the long-term sustainability of VR platforms and environments. Teams working on in-metaverse monetization strategy typically consist of business strategists, marketers, and data analysts with expertise in virtual economies, consumer behavior, and related areas.

Virtual asset creation and management

asset creation. digital currency, asset creation

Virtual asset creation and management in the metaverse refers to the process of designing, making , and managing virtual goods and assets within virtual environments. This includes designing and building virtual clothing, accessories, furniture, and other objects for use in the virtual reality, as well as managing the distribution and sale of these assets.

Virtual asset creation and management services can also include the making of virtual currency and virtual marketplaces for the buying and selling of virtual assets. These services are critical for making and maintaining a thriving virtual economy within the digital metaverse, and are typically provided by teams of designers and developers with expertise in virtual goods and asset creation, game development, and related areas.

Metaverse platform hosting and maintenance

Metaverse platform, events in VR, technologies, maintenance

Metaverse platform hosting and maintenance refers to the process of hosting and maintaining the infrastructure and technology needed to support metaverse environments and experiences. This includes tasks such as server hosting, network management, security management, and software updates and maintenance.

Metaverse platform hosting and maintenance services are critical for ensuring the smooth operation and performance of metaverse environments, as well as protecting against potential security threats. Teams working on metaverse platform hosting and maintenance typically consist of IT professionals, network administrators, and security specialists with expertise in cloud computing, network management, and cybersecurity.

Metaverse community management and moderation

network management, security, community experience

Metaverse community management and moderation refers to the process of managing and moderating virtual communities for brands within the metaverse, such as online forums, social media groups, and in-metaverse chat rooms. This includes tasks such as monitoring user behavior, enforcing community guidelines, and responding to user inquiries and concerns.

Community management and moderation services are critical for creating and maintaining a positive, safe, and engaging community experience within the metaverse, and are typically provided by teams of moderators and community managers with expertise in online community management, customer service, and related areas.

immersive experience, digital landscape, 3D reality

Metaverse services with Ruskin Felix Consulting

AR, Virtual Marketplace, 3D Environment

We help a business create virtual worlds for their clients and a digital market through research and application for global brands and firms. Get in touch with our consultants today to ideate and work on your own metaverse project.

blockchain payment solutions, blockchain payment systems

Payments using Blockchain payment systems

Leave a Comment / By / Insights / January 29, 2023

How does a blockchain payment system work – Pymts?

Blockchain can be used to facilitate payments by enabling the transfer of digital assets or currencies directly between individuals without the need for intermediaries such as banks or payment processors. Transactions are recorded on a public ledger that is maintained by a network of computers, making the process secure and transparent. Blockchain-based payments can also enable faster and cheaper transactions compared to traditional methods. These blockchain payments are done on smart contract platforms and record transaction data, payment flows between all financial institution and peers.

Steps of Transaction processing through blockchain

Transaction processing on a blockchain network involves several steps to be executed on a payment system :

  1. A user initiates a transaction by creating a digital signature using their private key, which serves as proof of their identity and authorization.

  2. The transaction is broadcast to the network, where it is picked up by nodes called “miners.”

  3. Miners validate the transaction by checking the digital signature and the user’s balance to ensure they have sufficient funds to complete the transaction.

  4. Once the transaction is validated, it is grouped with other transactions into a “block.”

  5. Miners compete to solve a complex mathematical problem to add the block to the blockchain.

  6. Once a miner successfully adds a block to the blockchain, the transactions within it are considered confirmed and the funds are transferred.

This process ensures that the transaction is recorded tamper-proof, and the funds are transferred securely and transparently.

A blockchain payment system is usually used to transfer money through a payment gateway and execute instant payments through money transfer with no waiting periods. It enables businesses beyond debit cards and a traditional banking channel for peer-to-peer transfers on a secure blockchain. These cryptocurrency payments are made using smart contracts and

KYC in Blockchain payments

KYC (Know Your Customer) is a process by which businesses verify the identity of their customers to comply with laws and regulations, such as anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations.

Blockchain has the potential to facilitate KYC by creating a secure and tamper-proof record with digital identity verification of customer identities.

This can be done using blockchain-based digital identities, which can be verified using digital signatures and other forms of digital authentication irrespective of cross-border payments on a blockchain Payment platform.

Decentralized and centralized payment systems aim to reduce their operational and compliance costs for cross-border payment by executing such a transaction process and payment processes involving fiat currencies.

Usually, in cases where merchants fail the process of their verification credentials, no new transaction is possible until the regulatory compliance on the blockchain system is fulfilled

Once a customer’s identity is verified on the blockchain, the information can be shared with other businesses and organizations, allowing for a more efficient and streamlined KYC process.

However, implementing KYC on blockchain can raise legal and regulatory issues, like data protection and privacy. As all your documents are submitted to encrypted distributed ledgers, users submit without reading contract agreement terms.

There have been many such cases that involve bitcoin where hackers steal money by hacking the accounting software

Moreover, the technology is still maturing and there needs to be a clear standardization of how to implement it.

Some blockchain-based solutions are being developed to specifically address the KYC compliance process, such as ChainGuard, KYC-Chain and Trunomi.

These solutions use blockchain technology to create a decentralized and secure repository of customer information that can be accessed and verified by multiple parties, while maintaining the privacy and consent of customers.

In summary, while blockchain technology has the potential to facilitate KYC process, it is important to ensure compliance with laws and regulations, and to consider the privacy and security implications of using blockchain for storing personal information.

Major Payments industry Modes in blockchain crypto payments

There are several major blockchain payment solutions currently available, including:

Bitcoin

The first and most well-known cryptocurrency, Bitcoin uses blockchain distributed ledger to enable peer-to-peer transactions without the need for intermediaries as a blockchain payment solution.

Ethereum

A blockchain platform that enables the creation of decentralized applications and smart contracts. It also has its own cryptocurrency, Ether (ETH), which can be used for payments.

Ripple (XRP)

A blockchain-based payment protocol that enables fast, cheap cross-border transactions. It is used by several major financial institutions for international money transfers.

Litecoin (LTC)

A cryptocurrency that is similar to Bitcoin but with faster transaction times and lower fees.

Bitcoin Cash (BCH)

A cryptocurrency that was created as a result of a hard fork of the Bitcoin blockchain. It aims to offer faster and cheaper transactions than Bitcoin as distributed ledger.

Stellar (XLM)

A blockchain-based payment protocol that enables fast, cheap cross-border transactions, especially for those in the emerging markets.

These are some of the most popular and widely used blockchain payment solutions, but there are many other options available as well.

Major Blockchain payment system and payment providers

There are several blockchain payment software projects and payment providers that have been developed to facilitate transactions in trade finance using blockchain payment systems. Some examples include:

BitPay

A payment processor that enables merchants to accept Bitcoin and other cryptocurrencies as blockchain payments.

Coinbase Commerce

A plugin that allows online merchants to accept multiple cryptocurrencies as payment.

OpenBazaar

An open-source, decentralized marketplace that allows users to buy and sell goods and services using cryptocurrencies.

Circle

A blockchain-based payments platform that enables users to send and receive money in any currency, including cryptocurrencies.

Alipay

A blockchain-based payment system developed by Alibaba, which aims to provide fast and secure cross-border payments.

XRP Ledger

An open-source blockchain payment protocol that enables fast, cheap blockchain Payments system using the cryptocurrency XRP.

Stellar

An open-source blockchain payment protocol that enables fast, cheap processing fees transactions using the cryptocurrency XLM.

IBM Blockchain World Wire

A platform that allows financial institutions to make cross-border payments in real time using a stable coin, central bank digital currency or other assets.

These are just a few examples of blockchain payment software projects, and new ones are being developed all the time as the technology continues to evolve. The goal is to enable No money transfer waiting periods or unnecessary third-party processing fees.

Use Cases of Blockchain in Payments industry

Blockchain payment processing has several potential use cases in the payment industry, including:

Cross-border payments

Blockchain-based payment systems can enable fast, cheap blockchain payments system, reducing the need for intermediaries and cutting down on transaction fees.

Remittances

Blockchain payment systems can be used to facilitate remittances, or the sending of money from one country to another, in a more efficient and cost-effective manner.

Digital wallets

Blockchain-based digital wallets can be used to store and manage assets such as cryptocurrencies, making it easy for users to make blockchain payments.

Micropayments

Blockchain payment systems can enable the processing of small payments, which is difficult with traditional payment methods because of their high transaction fees.

Supply Chain Finance

Blockchain can be used to improve transparency and traceability in supply chain finance, by providing a secure and tamper-proof record of all transactions.

Digital Identity

Blockchain can be used to create digital identity, which can be used to make secure and private payments, without revealing personal information.

Loyalty Programs

Blockchain can be used to create decentralized loyalty programs, which allows customers to collect and redeem rewards in a secure and transparent way.

Smart Contracts

Blockchain can be used to create smart contracts, which can automate the process of payments and other transactions on the blockchain network.

These are just some examples of how blockchain can be used in the payment industry, and as the technology continues to evolve, new use cases are likely to emerge.

Major investments in blockchain payment solutions

There has been a significant amount of investment in blockchain payment processing in recent years. Some examples of recent investments include:

In 2020, Visa announced a $40 million investment in a fintech start-up called Anchorage, which aims to provide digital asset custody services for banks and other financial institutions.

In 2019, Mastercard announced a $300 million investment in blockchain to help create new blockchain payment systems.

In 2019, PayPal announced that it was investing in a blockchain-based digital identity platform called Cambridge Blockchain.

In 2018, American Express invested an undisclosed amount in the blockchain-based cross-border payments platform Ripple.

In 2018, Santander invested in the blockchain-based cross-border payments platform Ripple.

In 2018, IBM announced a $200 million investment in the development of its blockchain-based payment platform, IBM Blockchain World Wire.

In 2019, Facebook announced the creation of a new cryptocurrency called Libra and its investment into the Libra Association, a non-profit organization that will govern the cryptocurrency.

These are just a few examples of the recent investments in blockchain payment solutions, and as the technology continues to evolve, more investment is expected in this field.

Investments in blockchain payment solutions in 2021

In 2021, there have been a number of significant investments in blockchain payment processing. Some examples include:

In March 2021, Square, the mobile payments company, invested $170 million in Bitcoin.

In May 2021, Visa announced its partnership with Circle, a blockchain-based payments platform, to launch a new digital dollar stablecoin on the Ethereum blockchain.

In June 2021, PayPal announced it would allow users to buy, hold, and sell cryptocurrency directly from their PayPal account, and also planning to enable cryptocurrency as a funding source for purchases at its 26 million merchants worldwide.

In June 2021, Mastercard announced a new pilot program to enable selected partners to issue their own assets on the Mastercard blockchain.

In July 2021, Visa announced it is partnering with Anchorage, a crypto-native custody platform, to provide crypto custody services to financial institutions.

In August 2021, Goldman Sachs invested $15 million in Circle, a blockchain-based payments platform, to help accelerate the development of Circle’s USD Coin (USDC) stablecoin.

In September 2021, JPMorgan Chase announced it will launch its own digital coin, JPM Coin, to be used for instant settlement of blockchain payments between clients.

In October 2021, American Express announced a strategic partnership with Ripple to enable real-time cross-border payments for customers using Amex’s FX International Payments (FXIP) service for payment processing.

These are just a few examples of recent investments in blockchain payment solutions in 2021, and as the technology continues to evolve, more investment is expected in this field in the future.

What are the payment Solution services provided by blockchain consultants

Blockchain consultants can provide a variety of payment solution services using blockchain technology. Some examples include:

Payment processing

Blockchain consultants can help businesses set up and integrate blockchain-based payment processing that enable fast, secure, and transparent transactions.

Digital wallets

Blockchain consultants can help businesses create and implement digital wallets for customers, which can be used to store and manage digital assets such as cryptocurrencies as well as creating payment solutions for global payments, collecting payment data, designing indigenous payment solution which uses payment details and wallet addesses to receive crypto payments and complete blockchain solutions for creating a payment gateway as a blockchain based payment solution. When using a something like a digital currency bitcoin, debit/credit card data security is important and aly alert should halt payments and chargeback the processing fees in the blockchain payments system.

Cross-border payment

Blockchain consultants can help businesses set up and integrate blockchain-based payment systems that enable fast, cheap cross-border fee, reducing the need for intermediaries and cutting down on transaction fees in fiat currencies.

Smart Contracts

Blockchain consultants can help businesses create smart contracts that automate the process of blockchain payments and other transactions.

Supply Chain Finance

Blockchain consultants can help businesses improve transparency and traceability in supply chain finance, by providing a secure and tamper-proof record of all transactions.

Digital Identity

Blockchain consultants can help businesses create digital identity, which can be used to make secure and private payments, without revealing personal information. Digital identity verification credentials enhance blockchain solutions on the blockchain network, build trade finance and provide better on-chain payment data to reduce the processing fees further on the blockchain payment solution.

Loyalty Programs

Blockchain consultants can help businesses create decentralized loyalty programs, which allows customers to collect and redeem rewards in a secure and transparent way.

Integration with other systems

Blockchain consultants can help businesses integrate blockchain-based payment systems with their existing systems, such as accounting and inventory management software.

Security

Blockchain consultants can help businesses secure their blockchain-based payment systems against potential threats such as hacking and fraud.

These are some examples of the payment solution services provided by blockchain consultants, and the services can vary depending on the specific needs of the business.

FATF and AML guidelines for blockchain

The Financial Action Task Force (FATF) is an inter-governmental organization that sets global standards for anti-money laundering (AML) and countering the financing of terrorism (CFT). The organization has issued guidelines for virtual assets and virtual asset service providers (VASPs) that operate on blockchain technology.

The guidelines, which were first issued in 2019 and updated in June 2021, set out a number of recommendations for VASPs to follow in order to prevent money laundering and terrorism financing. Some of the key recommendations include:

Customer due diligence (CDD)

VASPs are required to conduct CDD on their customers, which includes verifying their identity and monitoring their transactions for suspicious activity.

Record-keeping

VASPs are required to keep records of their customers and their transactions, which can be used to trace funds in the event of suspicious activity.

Reporting

VASPs are required to report suspicious activity to the relevant authorities, and to cooperate with law enforcement agencies in their investigations.

Risk assessment

VASPs must conduct a risk assessment to identify and mitigate the risks of money laundering and terrorist financing.

Travel rule

VASPs are required to obtain, hold, and transmit required originator and beneficiary information along with virtual asset transfer.

Virtual Asset Service Providers (VASPs) should be regulated and supervised by their respective authorities and to comply with relevant laws and regulations.

The FATF guidelines are designed to help VASPs and other businesses operating on blockchain technology to comply with AML and CFT regulations, and to reduce the risk of money laundering and terrorist financing. It is important for businesses to be aware of these guidelines and to take steps to ensure compliance with them.

Legal issues in payments using blockchain payment system

There are several legal issues that can arise when using blockchain technology for payments, including:

Jurisdiction: Blockchain transactions can occur across international borders, making it difficult to determine which jurisdiction’s laws should apply.

Regulation: Blockchain-based payment systems are often subject to different regulations than traditional payment systems, which can raise legal questions about their compliance with laws such as anti-money laundering (AML) and know-your-customer (KYC) regulations.

Taxation: The tax treatment of blockchain-based payments can be unclear, and there may be questions about how transactions involving cryptocurrencies should be taxed. This aspect can impact blockchain payments made from the single euro payments area and for a financial technology company.

Privacy: The use of blockchain payments and crypto payments can raise privacy concerns, as transactions are recorded on a public ledger that anyone can view.

Smart Contracts: The legal validity and enforceability of smart contracts, which are used to automate the process of payments and other financial transactions, may be uncertain.

Security: Blockchain-based payment systems are vulnerable to hacking and other forms of cybercrime, which can raise legal questions about the liability of the parties involved.

Intellectual property: Some blockchain payment solutions may use patented technology, which could raise issues related to intellectual property rights.

Consumer protection: Blockchain-based payment systems may lack the same level of consumer protection as traditional payment systems, which can raise legal concerns.

These are some examples of the legal issues that can arise when using blockchain for payments. It is important for businesses to be aware of these issues and to seek legal advice to ensure compliance with relevant laws and regulations.

At Ruskin Felix Consulting LLC, we provide services in creating customer experience by helping a new reality, new channels with extensive experience and strategies to be built for our clients and many organizations and start ups globally. We help in identifying in new opportunities, understanding future opportunities and focus on innovation. Check out our Services that we provide to our clients.

Some key services that we are RFC provide include:

  1. Blockchain strategy development: Helping organizations identify potential use cases for blockchain technology, and developing a strategy for implementing and integrating blockchain solutions into their operations.

  2. Feasibility assessments: Assessing the feasibility of specific blockchain projects for an organization, and determining the potential benefits and costs associated with implementation.

  3. Implementation and deployment: Providing guidance and support for implementing and deploying blockchain solutions, including selecting appropriate blockchain platforms and technologies.

  4. Smart contract development: Designing and developing smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code.

  5. Legal and regulatory requirements: Advising organizations on legal and regulatory compliance requirements associated with blockchain and cryptocurrencies, and helping them navigate the complex regulatory landscape.

  6. Blockchain training and education: Providing training and education to organizations and their employees on blockchain and its potential uses.

  7. Tokenization and ICO services: Tokenization is the process of creating digital coins or tokens that can be traded on a blockchain network and ICO (Initial Coin Offering) is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin, ethereum, or other cryptocurrencies.

  8. Security services: Helping organizations implement and maintain strong security measures to protect their blockchain systems and assets.

Digital transformation, Digital transformation services

Digital Transformation in 2023

Leave a Comment / By / Insights / January 29, 2023

Understanding Digital Transformation

Digital transformation, Digital transformation services

Digital transformation is the process of using technology to fundamentally change how businesses operate and deliver value to customers. In 2023, we can expect to see continued rapid advancement in technologies such as artificial intelligence, the Internet of Things, and 5G connectivity driving significant changes across industries. Digital platform have thus become widely needed to better human and technical capabilities. Digital transformation consulting is essential business led tech that creates corporate strategy to implement advanced analytics and data science to enhance business value, understand business needs, create strategic goals and take informed decisions to build the next wave of digital investments.

One key area where digital transformation is expected to have a major impact is in the field of automation. The use of advanced technologies such as machine learning and robotics will allow for increasingly sophisticated automation of tasks, freeing up human workers to focus on higher-level, more complex work. This will have major implications for industries such as manufacturing, logistics, and healthcare, where automation is already being used to improve efficiency and reduce costs.

Another key aspect of digital transformation in 2023 will be the growing use of data and analytics. As more and more devices and systems become connected, the amount of data being generated will continue to increase at a rapid pace. This data will be used to gain insights into customer behavior, optimize business operations, and make better decisions. For example, retailers will use data analysis to predict consumer trends and stock their stores accordingly, while healthcare providers will use data to improve patient outcomes and reduce costs.

In addition, the continued widespread adoption of cloud computing will enable businesses of all sizes to take advantage of these digital strategy. Cloud-based services will provide access to powerful computing resources and data storage at a fraction of the cost of traditional on-premises solutions. This will enable small and medium-sized businesses to compete more effectively with larger companies.

The growth of 5G networks will also play a key role in digital transformation in 2023. 5G networks will provide much faster data speeds and lower latency than previous generations of mobile networks, making it possible to connect a vast array of devices and systems. This will enable new use cases such as self-driving cars, remote surgery, and more.

Digital transformation is a continuous process and it will continue to evolve in 2023 and beyond. Businesses that are able to adapt and take advantage of these new technologies will be well positioned to thrive in the digital economy. However, for many companies, digital transformation will require significant changes to their organizational structures, processes, and cultures. It will also require a new set of skills and expertise, and the ability to think strategically about the long-term implications of these technologies.

Overall, the digital transformation will bring many positive changes to businesses and society. However, with any major technological shift, there will also be challenges. Ensuring the security and privacy of data will be crucial, as will addressing the potential for job displacement due to automation. It will be important for businesses and governments to work together to address these challenges and ensure that the benefits of digital transformation are shared by all.

Challenges in Digital transformations

Digital transformation can bring many benefits to businesses, such as increased efficiency, improved customer engagement, and new revenue streams. However, the process of digital transformation can also present a number of challenges that may require advisory services.

One of the biggest challenges that businesses face in digital transformation is the need to change their organizational structure and culture. This can be difficult, as it requires employees to adapt to new ways of working, and may involve significant changes to processes and systems. This can also create resistance to change among employees, making it difficult to implement new technologies and processes.

Another key challenge that businesses face in digital transformation is the need to acquire new skills and expertise. As technologies continue to evolve, businesses will need to stay up to date in order to take full advantage of them. This can be difficult, as it requires employees to continuously learn new skills and adapt to new ways of working.

A third challenge is the need to ensure the security and privacy of data. As businesses collect, process and store more and more data, the risk of cyber-attacks increases. Businesses need to ensure that data is stored and transmitted securely, and that proper controls are in place to protect against unauthorized access.

Finally, there is the challenge of creating a digital strategy that aligns with the overall business objectives. While digital strategy can bring many benefits, it can also be costly and time-consuming. Businesses need to ensure that their digital initiatives are aligned with their overall business objectives and that they are getting a good return on their investment.

To overcome these challenges, businesses may require advisory services such as digital strategy consulting, change management consulting, and cybersecurity consulting. These services can help businesses navigate the complexities of digital strategy and implement new technologies and processes in a way that aligns with their overall business objectives.

In summary, businesses that are looking to undergo digital transformation will need to be prepared to navigate a range of challenges. These challenges can include changing organizational culture, acquiring new skills and expertise, ensuring data security, and developing a digital strategy that aligns with the overall business objectives. Advisory services can help businesses overcome these challenges and successfully implement digital technologies and processes.

What do Digital transformation consulting firms do?

Digital transformation consultants provide a range of services to help businesses navigate the complex process of digital strategy consulting. Some of the key services that a digital strategy consultant may provide include:

  1. Digital strategy development

    Digital strategy consultants can help businesses develop a digital strategy plan for implementing new technologies and processes. This may include identifying areas where digital transformation technologies can be used to improve efficiency, increase revenue, or improve customer engagement. Do look at our Strategic consulting services here at RFC.

  2. Change management:

    As businesses undergo digital transformation and implement digital strategy, they may need to make significant changes to their organizational structure and culture. Digital strategy consultants can help businesses manage this process by developing change management plans and providing training and support to employees.

  3. Technology implementation:

    Digital strategy and transformation consultants can also help businesses implement new technologies and processes. This may include selecting and implementing new software systems, integrating new technologies into existing systems, and providing training and support to employees.

  4. Data and analytics

    As businesses collect and process more data, they will need to develop strategies for using this data to gain insights and make better decisions. Digital strategy consultants can help businesses implement data analytics platforms and provide training and support for employees to use these tools effectively.

  5. Cybersecurity

    With digital strategy comes an increased risk of cyber-attacks. Digital transformation consultants can help businesses identify potential vulnerabilities and develop strategies to protect against cyber threats.

  6. Business process optimization

    Digital strategy consultants can help businesses optimize their business processes to improve efficiency, reduce costs, and improve customer satisfaction.

  7. Cloud migration

    Digital strategy consultants can help businesses move their IT infrastructure to cloud-based services, which can provide access to powerful computing resources and data storage at a fraction of the cost of traditional on-premises solutions.

  8. Continuous improvement and monitoring

    Digital services and digital strategy transformation is a continuous process, and consultants can help businesses monitor the progress of their digital initiatives and identify areas for improvement.

Overall, digital transformation consultants can provide a wide range of services to help businesses navigate the complex process of digital strategy. These services can include developing a digital strategy, managing change, implementing new technologies, optimizing business processes, and ensuring data security.

Integration of blockchain in Digital transformation Strategy

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Blockchain technology has the potential to play a significant role in digital strategy and better digital capabilities, particularly in areas such as supply chain management, financial services, and digital identity. At Ruskin Felix Consulting, we provide a wide array of Blockchain and Web3 Services, do get in touch with us to discuss further possibilities.

In supply chain management, blockchain can be used to create a tamper-proof digital record of transactions, allowing all parties in the supply chain to have visibility into the movement of goods and materials. This can help to improve efficiency, reduce costs, and increase transparency.

For example, Walmart has started using blockchain technology to track the movement of goods from the farm to the store, which helps to improve the transparency of their supply chain and to ensure the freshness of their products.

In financial services, blockchain can be used to create a secure and efficient way of recording and verifying financial transactions. This can help to reduce fraud, increase transparency, and reduce costs through implementing digital strategy.

For example, some banks and financial institutions are using blockchain to create digital identities for customers, which can be used to verify transactions and reduce the risk of fraud.

In digital identity, blockchain technology can be used to create a secure and decentralized way of storing and managing personal data. This can help to improve privacy and security, and reduce the risk of identity theft.

For example, some governments are using blockchain to create digital identities for citizens, which can be used to access government services and to vote in elections.

Overall, the integration of blockchain technology into digital capabilities can help to create more secure and efficient systems, as well as increase trust and transparency. However, it’s also important to note that blockchain is a relatively new technology and there are still many challenges that need to be addressed, such as scalability, interoperability and regulation, before it can be widely adopted.

Additionally, the integration of blockchain technology in digital transformation requires a significant level of expertise and a thorough understanding of the technology and its potential use cases, so the advisory services of blockchain experts can be very valuable for businesses looking to integrate blockchain technology in their digital strategy journey.

Integration of AI in transformation

Artificial Intelligence, AI, Digital Solutions, Digital Transformation

Artificial intelligence (AI) has the potential to play a significant role in digital strategy transformation, as it can be used to automate tasks, improve decision-making, and create new revenue streams. With platforms like ChatGPT and other AI platforms, there is a very high demand for AI platforms in all industries and are thus attracting high level of digital investments.

In automation, AI can be used to automate repetitive tasks, such as data entry and analysis, freeing up human workers to focus on higher-level, more complex work. This can help to improve efficiency and reduce costs. For example, some companies are using AI to automate customer service, by creating chatbots that can answer customer queries and provide support.

In decision-making, AI can be used to analyze data and make predictions, helping businesses to make better decisions. For example, AI can be used to predict customer behavior and stock stores accordingly, or to optimize pricing strategies. AI algorithms can also be used to identify patterns and trends in data, which can be used to improve products and services.

In revenue generation, AI can be used to create new products and services and digital strategy, such as personalized recommendations and predictive analytics. For example, Netflix uses AI to recommend movies and TV shows to its users, while Amazon uses AI to recommend products to customers.

Overall, the integration of AI in digital strategy can bring many benefits to businesses, such as improved efficiency, better decision-making, and new revenue streams. However, it’s also important to note that AI is a complex technology, and its integration requires a significant level of expertise and a thorough understanding of the current processes and its potential use cases.

Digital Transformation Process & Digital Capabilities

The digital transformation process is the process of using digital technology to fundamentally change how a business operates and delivers value to its customers. The process typically involves several key steps, including:

  1. Assessment

    The first step in the digital strategy is to assess the current state of the business, including its technological systems, processes, and organizational structure. This assessment will help to identify areas where digital transformation consulting can be used to improve efficiency, increase revenue, or improve customer engagement.

  2. Strategy development

    Based on the assessment, the next step is to develop a strategic plan for implementing digital technologies and processes. This may include identifying specific technologies to be implemented, such as artificial intelligence, the Internet of Things, or blockchain, and identifying the specific business problems they will solve. This needs to be done with a Agile governance mindset and a clear integrated strategy and business models. The focus should be to create better overall customer experience.

  3. Implementation

    Once a strategy has been developed, the next step is to implement the new technologies and processes through detailed business models. This may include selecting and implementing new software systems, integrating new technologies into existing systems, and providing training and support to employees which will create a competitive advantage and bring innovation in existing processes.

  4. Change management

    As businesses undergo digital transformation, they may need to make significant changes to their organizational structure and culture. Change management plans need to be developed and implemented to ensure that business leaders and employees are prepared for these changes and that they have the necessary skills and support to adapt to new ways of working.

  5. Continuous improvement

    Digital transformation is a continuous process, and businesses need to monitor the progress of their digital initiatives and identify areas for improvement. This will ensure that the business stays ahead of the competition and continues to deliver value to its customers.

  6. Data governance

    As businesses collect and process more data, they will need to develop strategies for using this data to gain insights and make better decisions. This includes implementing data governance policies and processes to ensure data quality, accessibility, and security.

  7. Cybersecurity

    Businesses need to ensure that data is stored and transmitted securely, and that proper controls are in place to protect against unauthorized access. Cybersecurity measures need to be put in place to protect against cyber-attacks and breaches.

Overall, the digital expertise is needed to create a business strategy that is complex and an ongoing process that requires a deep understanding of technologies, business processes, and organizational change and create a digital future and building a customer experience.

It requires businesses to continuously adapt, track progress and stay ahead of the curve, to stay competitive and meet the ever-evolving needs of the customers.

At Ruskin Felix Consulting LLC, we provide services in creating customer experience by helping a new reality, new channels with extensive experience and strategies to be built for our clients and many organizations and start ups globally. We help in identifying in new opportunities, understanding future opportunities and focus on innovation. Check out our Services that we provide to our clients.

Ruskin Felix Consulting LLC partners with Akcru to create their live-to-earn all-in-one streaming platform

By / Pressroom / January 25, 2023

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Ruskin Felix Consulting LLC partners with Akcru to create their live-to-earn all-in-one streaming platform

Ruskin Felix Consulting LLC has partnered with the Akcru Platform to create a user-centric engagement platform where users can stream and redeem their Earnings

Akcru is the first watch-to-earn all-in-one platform. They allow their consumers to earn Akcru tokens for consuming content on their platform for one monthly fee. At Akcru, their goal is to provide their subscribers with a catalog of popular movies, new and old alike, to ignite nostalgia and excitement while also earning Akcru points for consuming the content. Priymus also aims to offer live-action sports such as HSBCU football, basketball, soccer, and more. Apart from this, the Akcru subscribers will gain early access to live concerts using their Akcru points and access passes on special events. They will also be able to avail of debit cards to redeem the earned Akcru points and use them to buy products in the platform marketplace and outside the platform.

Ruskin Felix Consulting LLC partnered with Priymus and prepared comprehensive investor documentation, IM, Whitepapers, Decks, strategy, and the composite Tokenomics and financial model for their idea of the future of video streaming. We emphasized the project’s mission, the problems associated with the streaming platform, and the solutions for the play-to-earn model. The engagement sheds light on the unique selling proposition, market opportunity, customer journey, partners, and the token management of the Akcru tokens. We also shed light on the project roadmap and coin distribution and segmentation. To understand the project’s viability, details of the application of funds and the methods to build coin utility have also been provided.

Ruskin Felix Consulting has been a part of the rebranding strategies for Priymus, which was later changed to be called Akcru. Ruskin Felix Barar, also the CFO for Akcru, has been closely engaged with the project and has said, “It’s a new exciting time for the streaming world as older existing players have become repetitive and lost charm. We wish to reward users for their time invested with us.”

 

Read More –EIN News

Ruskin Felix Consulting LLC partners with Galaxy Skyverse

Ruskin Felix Consulting LLC has become one of the leading blockchain consulting firms. They have worked on complex tokenomics, business models and Web 3.0 Projects. With over 50 projects covered in the last 12 months alone, they are one of the most sought-after firms in Blockchain strategic consulting.

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Ruskin Felix Consulting LLC partners with Galaxy Skyverse

Leave a Comment / By / Pressroom / January 25, 2023

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Ruskin Felix Consulting LLC partners with Galaxy Skyverse

Ruskin Felix Consulting LLC offers Galaxy Skyverse comprehensive consulting services by implementing blockchain technology within virtual reality. Ruskin Felix Consulting LLC partnered with GSV to create a comprehensive marketing strategy along with a Tokenomics plan for its primary token – $GSV. The comprehensive strategy would help GSV clarify why they are launching in the market, understand their target market and create a plan to engage with the customer and increase market presence. Ruskin Felix, Founder of RFC stated “ We aim to help the company in complete execution of its plan from ideation, smart contract development, execution, marketing, design, branding as well as listing of the project on major exchanges.”

Read More –EIN News

Ruskin Felix Consulting LLC partners with Galaxy Skyverse

Ruskin Felix Consulting LLC has become one of the leading blockchain consulting firms. They have worked on complex tokenomics, business models and Web 3.0 Projects. With over 50 projects covered in the last 12 months alone, they are one of the most sought-after firms in Blockchain strategic consulting.

Read More »
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Ruskin Felix Consulting becomes the leading blockchain consulting firm

Leave a Comment / By / Pressroom / January 25, 2023

PRESSROOM

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Ruskin Felix Consulting becomes the leading blockchain consulting firm

Ruskin Felix Consulting LLC has become one of the leading blockchain consulting firms. They have worked on complex tokenomics, business models and Web 3.0 Projects. With over 50 projects covered in the last 12 months alone, they are one of the most sought-after firms in Blockchain strategic consulting.

Ruskin Felix consulting is proud to announce that we have successfully worked with more than 50 projects in 2022 and have opened a specialized division to work with other blockchain clients in the space. Currently, the services provided by RF for digital assets consist of Business strategy, Platform development, Game development, Coin distribution and supply management, Risk mitigation plan, Capital raising, Valuation services, Tokenomics, game design document, launching of the cryptocurrency, IDOS, STO/ICO planning and technical project execution and social media marketing.

Read More –Benzinga

 

Ruskin Felix Consulting LLC partners with Galaxy Skyverse

Ruskin Felix Consulting LLC has become one of the leading blockchain consulting firms. They have worked on complex tokenomics, business models and Web 3.0 Projects. With over 50 projects covered in the last 12 months alone, they are one of the most sought-after firms in Blockchain strategic consulting.

Read More »

1st NFT Collection with Underlying value & real-world Application

Leave a Comment / By / Pressroom / January 25, 2023

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1st NFT Collection with Underlying value & real-world Application

Building the first-ever community of investors through the CuriousNFT Club gives holders the value they deserve. An opportunity for investors to grow their earnings as the club grows. Creating new opportunities in the world of venture capital and NFT

Ruskin Felix Consulting LLC is proud to announce the launch of its maiden NFT collection – CuriousNFT Club. With 2000 unique pandas, the panda collection is set to create a community of investors and venture capitalists that will enable the company to build into a Cryptocurrency and metaverse behemoth. The collection has been made available through a partnership with Opensea and the base price for the collection has been kept at 0.1 ETH

Opensea Collection – CuriousNFT

The club allows members to get involved in Multiple businesses in Crypto Universe, Metaverse, AI, and Healthcare through options of Co-investing. The goal is to provide an NFT collection with an underlying business model with rewards and access to events and an exclusive investor community.

Read More – IssueWire

Ruskin Felix Consulting LLC partners with Galaxy Skyverse

Ruskin Felix Consulting LLC has become one of the leading blockchain consulting firms. They have worked on complex tokenomics, business models and Web 3.0 Projects. With over 50 projects covered in the last 12 months alone, they are one of the most sought-after firms in Blockchain strategic consulting.

Read More »

All you Need to Know about Cryptocurrencies in 2023

Leave a Comment / By / Insights / January 25, 2023

Are you curious about trading crypto currencies like Ethereum or Bitcoin? If so, before picking an exchange or trading site, it’s a smart idea to find as much digital currency details as you can.

This guide discusses what determines digital asset prices and how to start trading cryptocurrencies. We will also send you our tips on where to buy and sell digital coins.

WHAT IS CRYPTOCURRENCY?

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Cryptocurrencies are currencies that are digital. They are developed to process transactions and generate new “coins” using digital cryptography.

Since they are decentralized, crypto-currencies like Bitcoin are common. In other words, access to the money isn’t regulated by banks and governments. In comparison, states and banks are more readily manipulated by fiat currencies.

There are thousands of alternatives to Bitcoin called Altcoins. Cryptocurrencies such as Ethereum and Ripple have improved on the initial model of Bitcoin or created differences to promote niche applications of their currencies. 

OVERALL CRYTPOCURRENCY CONCEPT

A cryptocurrency is a cryptography-secured digital or virtual currency, which makes it virtually difficult to clone or double-spend. Most cryptocurrencies are decentralized networks built on a public database enforced by a disparate computing network based on blockchain technologies. A distinguishing trait of cryptocurrencies is that every central authority normally does not issue them, making them potentially immune to political intervention or exploitation.

Cryptocurrencies are platforms that allow encrypted online payments that are denominated in terms of virtual “tokens,” which are represented within the system by ledger entries. “Crypto” refers to the numerous encryption algorithms and cryptographic methods, such as elliptical curve encryption, public-private key pairs, and hashing functions, which secure these entries.

BLOCKCHAIN TECHNOLOGY

cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

Blockchain is a data recording mechanism that makes it hard or difficult to alter, hack, or cheat the system.

It seems difficult to use Blockchain, and it can certainly be, but its basic principle is actually very plain. A blockchain is a database form. It helps to first understand what a ledger really is in order to be able to understand the blockchain.

A database is a compilation of information which is stored on a computer server electronically. Data, or data, is usually arranged in table format in databases to make it easy to search and filter for relevant information

WHAT IS THE DIFFERENCE WITH ANYONE USING A SPREADSHEET RATHER THAN A DATABASE TO STORE INFORMATION?

Spreadsheets are structured to store and view restricted volumes of information for one person, or a specific number of individuals. A database, on the other hand, is structured to hold considerably greater volumes of information that any number of people can view, filter, and manipulate efficiently and conveniently at once.

Through housing data on servers that are constructed of powerful processors, massive databases accomplish this. In order to provide the processing power and storage space required for multiple people to access the database concurrently, these servers may often be created using hundreds or thousands of machines. Although any number of entities can access a spreadsheet or directory, it is mostly controlled by a corporation and operated by an appointed person who has full control over how it operates and the data inside it.

WHY IS THERE SO MUCH HYPE AROUND BLOCKCHAIN TECHNOLOGY?

In the past, there were several attempts to raise digital capital, but they have all failed.

Trust is the prevailing issue. When someone makes a new currency called the X dollar, how do we believe they’re not going to send a million X dollars to themselves, or take the X dollars for themselves?

By using a special kind of database called a blockchain, Bitcoin was developed to solve this issue. Most normal databases have someone in control, such as a SQL database, who can alter the entries (e.g. giving themselves a million X dollars). Blockchain is distinct since no one is in charge; it is managed by the individuals who use it. Moreover, bitcoins can not be faked, hacked or double spent, meaning that persons who own this money can expect it to have some value.

TYPE OF CRYPTOCURRENCIES

Bitcoin, which now remains the most popular and most expensive, was the first blockchain-based cryptocurrency. Currently, with diverse functions and configurations, there are thousands of alternative cryptocurrencies. Some of these are Bitcoin clones or forks, and others are new currencies that have been constructed from scratch.

In 2009, Bitcoin was introduced by a person or collective known by the username “Satoshi Nakamoto.” As of Nov. 2019, with a combined market cap of approximately $146 billion, there were over 18 million bitcoins in circulation. Litecoin, Peercoin, and Namecoin, as well as Ethereum, Cardano, and EOS, include some of the rival cryptocurrencies spawned by the rise of Bitcoin, recognized as ‘altcoins.’ Today, the combined valuation of all existing cryptocurrencies is reportedly around $214 billion, reflecting more than 68 percent of the overall value of Bitcoin.

The Top 10 crypto currencies and their current prices are as follows:

TRADE IN CRYPTOCURRENCIES

IS BLOCKCHAIN SECURE?

The encryption and confidence problems are compensated for by Blockchain technologies in many respects. Next, there is still linear and chronological placement of new blocks. That is, they are often attached to the blockchain’s’ top’. “When you look at the blockchain of Bitcoin, you can find that each block has a location on the chain, called a “height.” As of November 2020, the height of the block has so far reached 656,197 blocks.

It is very unlikely to go back and modify the contents of the block after a block has been added to the end of the blockchain, until the majority has formed an agreement to do so. That’s because, along with the hash of the block before it, as well as the previously stated time stamp, each block contains its own hash. A math feature that transforms digital knowledge into a string of numbers and letters produces hash codes. The hash code also adjusts whether the information is edited in some way.

This is why protection is critical. Let’s presume a hacker tries to change the blockchain and snatch everyone else’s Bitcoin. It would no longer comply with someone else’s copy if they were to change their own single copy. They will see this particular copy stand out as everyone else cross-references their copies to each other, and that the hacker’s version of the chain would be thrown aside as unconstitutional.

To succeed in such a hack, it would enable the hacker to manipulate and change 51 percent of the blockchain copies concurrently so that their current copy becomes the majority copy and thus the agreed-upon chain. Such an attack would also take a large amount of capital and effort, since all the blocks would have to be redone because they would now have separate timestamps and hash codes.

The expense of pulling off such a task will obviously be insurmountable because of the scale of Bitcoin’s network and how quickly it is increasing. This will not only be incredibly costly, but it would definitely be fruitless as well. It would not go unnoticed to do such a thing, as network members would see such dramatic changes to the blockchain. Then the participants of the network will fork over to a different iteration of the chain that was not affected.

This will cause the targeted Bitcoin version to fall in value, rendering the attack essentially futile as a meaningless commodity is owned by the bad actor. If a malicious actor were to target the latest Bitcoin fork, the same will happen. It is designed this way so that it is much more politically incentivized to engage in the network than to strike it.

BITCOIN VERSUS BLOCKCHAIN

The purpose of the blockchain is to allow, but not edit, the storage and dissemination of digital content. Stuart Haber and W. first outlined blockchain technology in 1991. Scott Stornetta, two researchers who decided to introduce a method where it was not possible to tamper with paper timestamps. But it wasn’t until almost two decades later, in January 2009, when Bitcoin was introduced, that the blockchain saw the first real-world use.

There are already a broad number of blockchain-based initiatives aiming to incorporate blockchain in areas other than simply tracking transactions to support society. One clear example is that blockchain is being used in democratic elections as a means to vote. The existence of the immutability of the blockchain suggests that it would be much more difficult to generate illegal voting.

A voting scheme, for instance, might function so that a single cryptocurrency or token would be given to each resident of a country. A special wallet address would then be given to each candidate, and the electors would transfer their token or crypto to the address of whichever candidate they wish to vote for. The open and traceable design of the blockchain would reduce the need for the counting of human votes and the potential of bad actors to alter physical ballots.

HOW TO TRADE IN CRYPTOCURRENCIES - PAXFUL.COM

cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

The best platform to trade in cryptocurrencies is Paxful.com. Paxful is a forum designed to provide a stable and easy trading system for cryptocurrencies. It serves as a peer-to-peer resource that is close to how trading is supported by Ebay. So, you can shop something more exciting than daily items here. Hey! Bitcoins!

Paxful is based in the USA and was founded in 2015. This marketplace’s concept was to allow sellers and buyers to connect easily after finding trade offers. Paxful, in a nutshell, is an intermediary between merchants and a room where individuals can connect.

HOW PAXFUL WORKS?

Paxful has a straightforward website which provides customers with a broad range of trading and payment options. Credit-debit cards, MoneyGram, PayPal, and Skrill are among those choices. With the help of gift cards such as iTunes or Amazon, users are also welcome to make purchases.

It’s so easy to use Paxful that it won’t make you any issues. Just open their website, pick the number of coins you want to get, and mention your local currency, all you need. Build your personal account and you will have a chance to browse for sellers that are available. Quest types cover ways of payment and currency number. Users can pick the most lucrative orders, display the sellers available, payment methods approved, order numbers, and rates. Before finding your order, don’t forget to verify the seller’s reviews to ensure that he is accurate enough.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

Only press the “Buy” button when you have found a successful choice for you. Pick the number of coins you would like to buy and make an order. You should take advantage of an escrow service and a chat option from this to meet your seller face to face and negotiate the offer in depth.

Click on “Mark as paid” until the sale is completed and payment is made, and wait for a while before the seller sends coins to your personal wallet.

Pros

  • At Paxful, an incredibly large variety of payment methods are available.
  • 2-factor authentication safeguards wallets and guarantees your protection.
  • Sellers are all available to view credibility scores depending on their activity, trading experience and customer feedback.
  • An escrow service retains funds until both sides agree that a contract is completed. This protects cheaters from dealers and customers and keeps the purchases seamless.
  • Paxful’s customer service is swift and reacts via a number of choices, including email, web, message system, and social media.

Cons

  • There are concerns that anyone may seek to trick you, including the fact that Paxful functions as a peer-to-peer network. Be careful and never contact with distributors through email, SMS or any other means. Paxful’s website only covers you when, via the message box, you contact other people.
  • Before you confirm the offer, make sure to review the price and commission. Depending on the payment method you use, rates can differ significantly.

Paxful is an easy and common way for cryptocurrency community members to exchange bitcoins and remains a lucrative choice. For new and seasoned buyers, this could be a successful choice, as it makes the process quick and clear. The platform thus serves as a mediator between sellers and buyers, but before making an offer, you need to be attentive and review sellers.

TRADE IN CRYPTOCURRENCIES

CRYPTO TRADING STRATEGIES

Step #1: Overlay the Bitcoin chart with the Ethereum chart and the OVB indicator.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

Basically, the map configuration should have 3 screens. One for the map of Bitcoin and the second one for the chart of Ethereum. Last but not least, build one OVB indicator window.

Step #2: Look for Smart Money Divergence between Bitcoin price and Ethereum price.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

With this, what do we mean?

Simply put, we’re going to look for price differences in the price of Bitcoin and Ethereum. If one cryptocurrency fails to validate the other cryptocurrency’s behavior, smart cash divergence exists.

For instance, we have smart money divergence if Ethereum price breaks above a big resistance or a swing high and Bitcoin fail to do the same. It means that “lying” is one of the two cryptocurrencies. This is the key reason why we have used this technique for trading cryptocurrencies. And even the Ethereum trading technique.

The explanation why the idea of smart money divergence works is that when we’re on a trend, the cryptocurrency industry as a whole should shift in the same direction. For decades, the same rules have been applicable for all the other big asset groups. It’s also true for the exchange policy of cryptocurrencies.

We need confirmation from the OBV predictor before purchasing. This takes us to the next level on the right technique for Bitcoin investing.

Step #3: Look for the OVB to increase in the direction of the trend.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

If Bitcoin lags behind the Ethereum price, it suggests that Bitcoin can obey Ethereum sooner or later and break above the resistance.

Still, how are we going to know that?

The OBV is, to put it simply, a remarkable scientific predictor. It will show us whether real money actually buys Bitcoin or sells it. What we want to see when Bitcoin is struggling to break over a resistance level or a swing high, and the Ethereum already split, is for the OBV to rise in the direction of the trend. We still want it to go above the level it was when Bitcoin traded at this resistance level earlier. Here is how the right swing can be found to raise your benefit. Now, all it remains for us to do is to position our buy limit order, which takes us to the next phase of the right Bitcoin trading strategy.

Step #4: Place A Buy Limit Order at the resistance level in an attempt to catch the possible breakout.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

Once we are given the green signal by the OBV indicator, all we have to do is place a purchasing cap order. Place the order in expectation of the potential breakout at the resistance stage.

It’s no surprise to see this exchange sparked and to break higher than expected for the price of Bitcoin. We told you, after all, that the OBV is an awesome predictor.

Now, what we need to decide is where to put our defensive stop loss for the right Bitcoin trading plan and when to take money.

Step #5: Place your SL below the breakout candle and take profit once the OBV reaches 105,000.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

It is a good way to trade to put the stop loss below the breakout candle. In our most recent article here: Breakout Trading Technique Used by Experienced Traders, we have written more about the reasons for covering your SL above/ below the breakout candle.

Typically an OBV reading above 105,000 is an intense reading that indicates at least a pause in the pattern when it comes to our taking benefit. This is where we expect money to be made.

WAYS TO ENHANCE THIS BITCOIN DAY TRADING STRATEGY

Though Bitcoin trading day has certain risks, there are several ways to reduce these risks.

Here are some of the top ways to boost your trading plan for Bitcoin.

Know that:

Diversify the purchases. It would help decrease the everyday risk associated with a single coin by integrating Bitcoin, Ripple, Litecoin, Ethereum, and other cryptocurrencies.

Minimize expenditures for trading. Every day, opening multiple places impacts the daily ROI. Choose a reputable exchange that has low fees to minimize the risk of trading.

Watch Times Dealing. Map ahead hours for trading that are consistent with your timetable. 24 hours a day, Bitcoin trades. It’s different from the NYSE 9-5s.

Track the news on Bitcoin. To remain ahead of the market, pay heed to crypto-currency news reports. Configure warnings and other message forms.

Apply technological research. Using powerful technological metrics such as OBV. This will encourage you to justify each of your purchases.

Usage Failure Pause. Set orders for stop-loss on any trade. Begin with a 2:1 income loss ratio.

LEGALITY VIEW

In the U.S., Japan, the U.K., and several other developing nations, Bitcoin was legal as of February 2020. The legal status of Bitcoin has started to vary significantly in developing markets. Although explicitly criminalizing the possession of bitcoins, China heavily restricted Bitcoin. India banned banks from blockchain trade and left uncertain the ultimate legal status of cryptocurrencies. In addition, Bitcoin regulations in individual countries need to be looked at.

And if Bitcoin is legitimate, Bitcoin is still subject to most of the laws that apply to other properties. The area where more persons are expected to get into trouble is tax laws. Bitcoins are generally regarded as property rather than currencies for tax purposes. Generally, Bitcoin is not considered legal tender.

In a deregulated marketplace, Bitcoin exists, but there is no centralized issuing authority. Bitcoin addresses in the United States do not require social security numbers (SSNs) or other personal records, such as regular bank accounts. That raised questions initially about the use of bitcoins for illicit activity.

The assumed anonymity of Bitcoin contributed to numerous illicit applications in its early years. Drug traffickers were known to use it, with the Silk Road market being the best-known example. It was a part of the so-called dark web that allowed users to purchase illegal drugs. Bitcoins are used in all purchases on the Silk Road. In October 2013, it was finally shut down by the FBI.

And those wanting anonymity, though, Bitcoin have some serious weaknesses. Bitcoin establishes, in particular, a permanent digital archive of all transactions. When a person is connected to an account, it is possible to connect that individual to other transactions using that address. Cryptocurrencies such as Monero and Zcash, which are competing, also have much greater privacy security. Unlawful behavior is shifting away from Bitcoin, given this scenario.

MOVEMENT IN CRYPTO PRICES (2019-2021)

The price of bitcoin started to climb in the fall of 2017. The price rose by $5,000 in October of that year and doubled to $10,000 again in November. Then, the price of one bitcoin hit $19,783 on December 17. This was dubbed a price bubble by many pundits and analysts, several of whom made parallels to 17th century Dutch Tulipmania. Indeed, the price of bitcoin plunged quickly only a few weeks back, falling all the way down to $7,000 by April 2018 and below $3,500 by November 2018.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

In 2019, bitcoin saw a fresh price and volume revival, rising to about $10,000 by June in fits and bursts. Since history appears to repeat itself, by the end of the year, the price of bitcoin dropped back down to around $7,000.

In 2020, that changed. Renewed interest was piqued among investors, as described above. The number of persons carrying more than 1,000 coins has actually jumped. Prices have risen gradually through the year, beginning on January 1 at $7,200 and ending on November 23 at $18,353. That’s an approximately 155% rise. Bitcoin then took off ever further when, after the rapidly rising inflation of the dollar from COVID-19 stimulus spending, institutions started to accept it as a store of wealth. In Dec. 2020, the price of Bitcoin hit a high of just under $24,000, giving it a 224 per cent year-to-date rise and an almost 500,000 per cent year-to-date increase on the Bitstamp market.
cryptocurrencies, bitcoin, bitcoins, cryptocurrency, trade, blockchain, ethereum, ruskin felix, paxful

The performance of Bitcoin especially in 2021 has been nothing short of a dream run. With the prices in December being at USD $29,000, the price soared to a lift time high of USD $41,940 on January 9th, 2021. The bitcoin valuation then dipped about 20% from all time highs to come back and stabilise around the USD $32,000 mark. The month of january has proven the theory of many experts who believe that the valuation of a bitcoin will reach USD $1,00,000 by October 2023.

We advise you to invest in the same and contact us if you need advisory services for bitcoin or intend to trade in the cryptocurrencies.

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About Ruskin Felix Consulting LLC

A boutique consulting firm in business consulting, blockchain, strategy, investment banking, finance, SEO, Marketing and Private Equity.

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©2022 Ruskin Felix Consulting LLC. All Rights Reserved

About Ruskin Felix Consulting LLC

A boutique consulting firm in business consulting, blockchain, strategy, investment banking, finance, SEO, Marketing and Private Equity.

Youtube Twitter
  • +91 2266990111
  • contact@ruskinfelix.com

Useful Links

Working Hours

Mon - Fri: 09:00AM - 09:00PM

Sat: 09:00AM - 07:00PM

Sun: Closed

Book a Meeting

BOOK MEETING

©2022 Ruskin Felix Consulting LLC. All Rights Reserved

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