At the recently concluded G20 Conference, the politicians who attended the event have signed a document which indicates their intention to begin working on a solution to the issue of cryptocurrency tax, and that they will collaborate to this end.

The kind of cryptocurrency taxes imposed on businesses differs from one country to another.  The tax treatment is not the same across the globe.  However, the G20 meet has discussed the international cryptocurrency tax issue.  At present, it is illegal for any government to be taxing a foreign company that does not have a brick and motor presence in the taxing country.

Previously in June, a coalition was formed under the name and style of Joint Chiefs of Global Tax Enforcement (J5) to fight the cryptocurrency tax crime.  The Enforcement team was focused on tackling tax evasion.

The J5 was formed to tackle offshore structures and financial instruments.  Some of these foreign companies committed tax crimes by favoring money laundering.  Both tax evasion and money laundering is a threat to the economic well-being of the whole country.

Organized criminals and tax evaders were exploiting the cryptocurrency system and the vulnerabilities. The leading tax and financial experts from across the member states joined together in J5 to develop tactical plans and as well to identify newer opportunities to deal with international tax crimes.

Cryptocurrency Taxation guidelines were introduced in the US in 2014, and it decided to treat Bitcoin as a property, and a team of investigators was cracking down on those exchanges who were using cryptocurrency to launder money and to evade tax.

The G20 has discussed the construction of an international system that will tax any kind of cross-border payments made.  This has been discussed because several offshore companies are exploiting the rule that companies without physical presence cannot be taxed.  They are using this rule to avoid tax.

The final version to address this issue will be ready by 2020.  All the G20 countries will be working on similar proposals, and they will be discussing it at the next meeting which is to be held in Japan. Of note, countries like France and Japan were calling for a similar discussion.

The advisory board of G20 reported that cryptocurrency by itself is a threat to the economic activity of the world.  The confidence in the authority of the financial institutions is coming down after the coming of the cryptocurrency.

Source: https://thecurrencyanalytics.com/3745/g20-advisory-board-feels-cryptocurrency-is-a-threat-to-global-economic-activity/

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With this development, expect a tighter regulations on all cryptocurrency exchanges. This will certainly affect everyone involved in crypto.

Enterprises are getting increasingly interested in the blockchain technology.  Most of them are working on the fear of missing out.  They are not willing to miss the opportunity that their competitors are using to win over.

So, corporates and research teams are discussing blockchain.  There is something about blockchain going on in every major and minor enterprise.  More and more disciplines are trying to understand what an interdisciplinary approach can do for each of their industry.

The technology is yet to be understood by many in several areas.  Individual disciplines need to overcome their fear and apprehension about blockchain technology.  This is important to start their venture with blockchain integration as applicable.

When it comes to adoption, just like companies had to have their employees to own their device to adopt the cloud, there will be some foundational changes to be made when embracing the blockchain technology.

Tough decisions will have to be made.  And long debates are on the dice.  The technology is very nascent, and no amount of discussion seems to help.  Regardless, whether the adoption will be immediate or in the long run, it is essential for everyone in the organization to develop a basic understanding of the blockchain technology and the distributed ledger technology.

Companies are talking blockchain for the sake of it, and some of them are seriously posing themselves as being up-to-date with the ongoing technology.  However, with blockchain being discussed everywhere, no one seems to get an idea of what is the problem that blockchain is set to solve.

Almost every supplier in the supply chain do talk something about blockchain in their website.  Irrespective of whether they mean it or know it.  They have a standard write up just in case some of their clients are looking to work with someone who talks blockchain. With all this happening someone famously stated making use of the blockchain technology to order pizza a sound like a sophisticated approach, but it is not justice done to the incredible technology.

Something nice about this technology is that the chronology of events cannot be changed at all.  The transparency of facts can be sustained due to the immutability of the records.  With the whole network being decentralized, there is no single point of failure.

Just like any other thing, it is not going to be easy for companies to be able to see immediate results.  They need to pass the application through trial and error events before it can be entirely formed.  Sure, there is a lot of hype.  However, it is worth embracing the technology for the usefulness is definitely worth the try.

https://thecurrencyanalytics.com/3758/what-problem-does-blockchain-technology-solve/

Cryptocurrency issuers can provide a positive coverage for the unbanked population.  They can offer digital wallets to unbanked people to ultimately prevent fraud.  This will also help replace outdated systems with efficient financial wallets. It is important to ensure that the updated versions are the ones that we can live with.

The largest of the cryptocurrencies will need vast amounts of energy to work efficiently.  There are more than 159 independent nations, and the amount of energy consumed by blockchain technology is more than the combined power usage of the 159 countries.  This creates a huge environmental issue.

The blockchain is a promising technology for which the huge electricity consumption in the mining process is a core issue.  When Bitcoin was introduced, there was no regulator.  Miners verified the transactions over the network by solving cryptographic problems.    These problems were a lot similar to complex math problems.

The verified transactions are further converted to blocks.   These blocks were then added to the blockchain.  The blockchain is a record of all the public transactions that take place over the network.  Miners do this job in return for a small value in Bitcoin. The Bitcoin since then increased multifold in value, and now it is facing a bearish trend.

Several sectors are willing to take advantage of cryptocurrencies. Everyone from those who sell cryptocurrencies to those who sell software applications like wallets is researching and working to establish the needful for the retail use of cryptocurrencies.  This is inclusive of attempts that talk about how to become rich with cryptocurrencies via conferences through several other processes where billions of dollars have been poured into the crypto industry.

Despite all this, it is seen that the crypto is failing as a digital currency for reasons related to sustainability and regulatory stringency. The best in the industry crypto like the Bitcoin has lost nearly 80% of its value.  Whether as an idea or the investment, the crypto hype is being challenged by the real-time trends and data as it unfolds every day.  Regardless of the high potential of the crypto, it is being projected as a worse investment idea by many.

Crypto is not an asset type that produces wealth.  Some investors think that they own the blockchain technology.  Neither is true.  It is not a commodity. And, therefore regulators are not considering it as a store of value.  It is just a currency and therefore can be used as a means of exchange per regulators. However, it is a currency that is unprotected. When it becomes protected by regulators, the rest is history.

https://thecurrencyanalytics.com/3716/cryptocurrency-digital-wallets-for-the-unbanked-and-retail-users/

Smart governance is the key to unveiling the economic growth. Smart governance will lead to smart transformations in the overall management of the cities and villages.

IoT and real-time data has a major role to play in synthesizing predictive data.  Behavioral data has a major role to play in triggering digital innovation that contributes to the success of the smart governance programs.

Improved mobility, improved infrastructure, improved public safety, improved talent, improved environment, improved payments and a lot of improvement in smart governance programs can be streamlined using blockchain technology.

Controlling the traffic and enabling traffic management systems that are connected via blockchain technology can, in turn, contribute to improved public safety on the road.  A lot of creativity, when supported by appropriate resources, can help improve pollution control in the cities.  By making use of the secure, and open database in blockchain technology, the information infrastructure can be used to realize the full potential in traffic management.

While funding is a challenge in developing the infrastructure of smart cities.  Blockchain technology-based infrastructure funding either by concessions in advantage, revenue sharing, or facilitation by department budgets can all contribute to improved financial support to make smart cities even smarter.

Effective governance needs effective technology and blockchain is the answer.  This technology can also help in solid waste management and a range of environmentally friendly projects.  No amount of capital can improve governance without appropriate strategy and creative technology in place.

A responsible and accountable political system where the public and the private firms cooperate beyond the status quo can be developed using this technology.  This can eventually lead to establishing better lives and better opportunities for citizens.

Smart governance is a government that is data smart.  The long-term sustainability and the quality of the goals to be achieved can be monitored and enabled with the strategic flow of work pattern.  This, in turn, can help create proactive insight enabling technological expertise with appropriate dApps in place.  Each of the dApps can be customized to streamline flow of action, and in turn, these apps can be further integrated to higher functioning protocols by making use of reliable blockchain technology.

The operating expenses involved in dealing with waste from landfill and in turn investing in recycling programs need efficient management systems in place.  This can, in turn, be improved by strategic programming of the recycling and waste management systems using the blockchain technology. The sustainability of smart governance of any kind stays with environmental wellness.  This can be efficiently put in to place using the blockchain technology.


https://thecurrencyanalytics.com/3691/economic-growth-blockchain-technology-and-smart-governance/

Over the past years, blockchain has massively revolutionized the way in which information or data is stored or utilized. The advantages of blockchain solutions have obtained an interest in a plethora of sectors include supply chain, retail, healthcare, and financial services corporations. Aside from such sectors, the tourism space is also seeking ways to benefit from the technology.

But first, what is blockchain?

The blockchain is a principled digital ledger of transactions which can be automated to store not only financial dealings but everything which holds value.

It stores information across a series of computers on a P2P network. The data could be accessed in real time which can be seen throughout networks and make it possible to view the history of the goods as well as its components.

Blockchain technology comes with a lot of unique characteristics and traits which can benefit corporations in many ways. Some of these features include:

• Improved security
• Eradication of middleman or third party
• Data integrity
• Decentralized business models
• Immutability and transparency

Blockchain in the Tourism Sector

As mentioned above, blockchain technology is widely utilized by a plethora of businesses and industries.

• STRESS-FREE BAGGAGE TRACKING VIA BLOCKCHAIN

Did you know that mishandling baggage costs aviation companies many billions each year and is quite stressing for travelers like you? The issue isn’t simple, as it appears to be. That’s because the baggage needs to go through different stages.

Today, systems have improved the procedure through reconciling baggage handling data directed from departure control applications. It could come to rescue to handle this issue.

• PROTECTING TRAVELERS DATA AND PROFILE

You are aware how blockchain aids in safeguarding the data, which makes it inaccessible and safer to an unauthorized individual. For long years, user security and privacy have been a problem. If a corporation signs a deal along with a Travel Management Company, airlines or suppliers, the firm needs presenting the supplier access to data to provide the services.

Whether the process is manually or automatically, the profiling procedure takes a lot of effort and time. Nevertheless, when the information of the staff is kept on the blockchain, it could help deal issues on both parties. For example, corporations won’t have to make another API connection between the supplier’s profile database and buyer HR system.

• BLOCKCHAIN TO AVOID OVERBOOKING

No doubt, the tourism sector is always busy all year round. A lot of tourists are always seeking promotions and deals throughout the year. Nevertheless, when vacation season comes, there is the likelihood of flights and hotels being overbooked.

Blockchain technology comes to the rescue by avoiding double booking or double spending. It avoids any instances to take place like letting the passengers wait until the room is vacated or offloading the passengers.

The future of blockchain technology in the tourism sector will eliminate lots of discrepancies which lead in millions of dollars lost to corporations including hotels and airlines.

Source: https://thecurrencyanalytics.com/3708/blockchain-and-its-effect-on-the-tourism/

The opportunities in the blockchain technology market are rising with rapid development in the different segments of the market.

The growth rate of the technology in the different market segments of this technology is based on the driving factors.

The leading vendors in blockchain technology in the worldwide market provide for financial and non-financial services.  They make use of products based on the public blockchain, private blockchain, and hybrid blockchain services.

The global market scenario for this technology is based on industrial advancements concerning the scope of the product, the application being promoted, the net edge offered by the product, the scope of the item, the net income and its prospects of development over the years.

Ultimately, those solutions that provide a satisfactory answer to the users drive the trend. This technology has a significant impact on the way; international trade will be carried out.  However, before deploying this technology in the different industries, the challenges involved should be considered.

This technology will influence almost every industry like finance, trade, logistics, transportation, and customs clearance.

It has been projected that the year 2018 through 2021 will be marked by a few high profile success of deployments mostly driven by the enthusiasm of the investor with growth rate ranging from 205 to 120%.  The year 2022 through 2026 has been projected as the years that will be marked by several successful investment models, which will be mainly focused on investments with the growth rate ranging from 25% through 100%.  The year from 2027 through 2030 will be large scale global value-added services with 100% through 40% growth rate.

It is expected that this technology will cut trading costs by improving automation and facilitating transparency.  This is inclusive of coordinative activities, financial intermediation, and differences in exchange rate costs.  When the challenges and barriers involved in the blockchain technology are removed, this technology can lead to more than $1 trillion in new trades over the next decade.

Fighting fraud will be made easier by creating efficient smart contracts.  The government procurement processes can as well be enhanced.  The intellectual property rights across multiple jurisdictions can be administered transparently and efficiently.

Supply chain management will become more efficient. Shipment tracking will be made possible with 100% authenticity.  Newer opportunities will be opened to medium sized, micro-sized and smaller companies.

The blockchain technology is highly resilient when compared to the traditional databases considering their cryptographic techniques and distributed nature of their decentralized existence. To identify the use cases, a multi-stakeholder approach is to be made in this industry.

There are several companies making use of the blockchain technology, and despite the best standards, we cannot assure that this technology can be used across every industry type.

Source: https://thecurrencyanalytics.com/3721/barriers-to-be-crossed-to-implement-blockchain-technology/

While everyone does not want the crypto market to crash, skilled traders are quite happy even if the market is crashing since they can still gain from market volatility. This is why it's important to master the art of trading. You can have consistent profits whether the market is going up or going down.

I and some members already raised this issue a couple of times before and admin already created a thread to report such activities (https://www.altcoinstalks.com/index.php?topic=62494.0)

I do not have the exact data but it seems some members are still not deterred from plagiarizing. Even worse is that you see this people get some karma probably for a comment or a post they just copied. I usually see Sr. Rank members and below do this but I was also surprise that even a Hero Rank does this.

It is my understanding that most, if not all, users want this forum to grow. One way to make that happen is for the community to help clean this forum. Report plagiarism if you seee one. It does not matter if the user/s has a highet rank than you.