Benefits of Blockchain Technology and Cryptocurrency

To understand the benefits of the Blockchain Technology and Cryptocurrencies its important for us to understand what they are, This Article aims to provide you with all the information that you need to understand each of these are.

Understanding Blockchain

A Blockchain is, in the simplest of terms, a time-stamped sequences of unassailable record of information that is managed by cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) are protected and bound to each other by means of cryptographic values (i.e. chain).

The blockchain network has no central authority — it is the very definition of a democratized system. Since it is a shared and unassailable ledger, the data in it is open for anyone and everyone to see. Hence, anything that is constructed on the blockchain is by its very nature transparent and everyone involved is responsible for their actions.

Benefits of The Blockchain Technology

Blockchain is taking the world by storm and for good reason! There are plenty of benefits that come with using the technology in place of other current systems. Some of the major benefits that are connected with blockchain consist of the permanence and safety of the data that is stored on the blockchain’s ledger, the continentality and privacy maintained by users of a network with blockchain technology, the lack of a “middle man” due to the peer-to-peer nature of blockchain, the freedom provided by decentralization, the security that comes with distributing the blockchain across all users of the network, and the lower transaction fees that stem from using the efficient technology. Generally, it is quite simple to see why blockchain has managed to become so popular.

Here are some key benefits:

Understanding Cryptocurrency

A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. Cryptocurrency made the leap from being an academic concept to (virtual) reality with the creation of Bitcoin in 2009. While Bitcoin attracted a growing following in subsequent years, it captured significant investor and media attention in April 2013 when it peaked at a record $266 per bitcoin after surging 10-fold in the preceding two months. Bitcoin sported a market value of over $2 billion at its peak, but a 50% plunge shortly thereafter sparked a raging debate about the future of cryptocurrencies in general and Bitcoin in particular.

Benefits of Cryptocurrency

Fraud: Cryptocurrencies are digital and cannot be copied or upturned randomly by the sender, as with credit card charge-backs.
Identity Theft: When you give your credit card to a merchant, you give him or her admission to your full credit line, even if the transaction is for a small amount. Cryptocurrency use a “push” machinery that allows the cryptocurrency holder to send precisely what he or she wants to the merchant or recipient with no additional information.
Immediate Settlement: Acquiring real property characteristically involves a number of third parties (Lawyers, Notary), delays, and payment of fees. In many ways, the bitcoin/cryptocurrency blockchain is like a “large property rights database,” says Gallippi. Bitcoin contracts can be designed and prescribed to eradicate or add third party approvals, reference external facts, or be completed at a forthcoming date or time for a portion of the expense and time required to complete traditional asset transfers.
Access to Everyone: There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t presently have access to traditional exchange systems. These individuals are primed for the Cryptocurrency market.
Lower Fees: There aren’t usually transaction fees for cryptocurrency exchanges because the miners are compensated by the network (Side note: This is the case for now). Even though there’s no bitcoin/cryptocurrency transaction fee, many expect that most users will engage a third-party service, such as Coinbase, making and maintaining their own bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees. It’s interesting to note that Paypal does not agree to take or transfer bitcoins.

Now that you have a fair understanding of what blockchain and cryptocurrency are and their benefits, get your hands on some XcelToken Plus and start trading it on one of the 14 exchanges that it is listed on!

Benefits of Introducing the Blockchain System in Education

In order to understand the benefits that the blockchain technology can provide the education system, we will first have to understand what the blockchain technology is.

Blockchain is a new innovation in computer science and information technology, that has a world-wide reach as well as interdisciplinary applications. Its disruptiveness has already made its way into the economic sphere. By the year 2025, 10% of the world’s GDP will be managed by Blockchain technologies, of which half will be in the form of cryptocurrency, according to The World Economic Forum.

Blockchain simply put is units of value or pages of a ledger that are distributed/shared by a community. In this community, each participant keeps his or her own copy of the data or info. The information could contain transactions (a currency or other unit), agreements (contracts to move assets, funds, or information), or nearly everything else that can be put into a digital form. Each modification or addition of a unit of some kind will become a “block” added to the end of a “chain.”

The questions that need to be answered now is how can this system be used in education and how will it be beneficial?

Student records are limitless, and with blockchain technology, resources like attendance, courses, expenditures toward tuition if they attend a private school, scores, assignments, projects and even their diploma certificate can become part of their private blockchain record. Since these units of data cannot be erased, it helps with data safety. It also belongs to the student, rather than to the school. With blockchain, no member can meddle with a record after it has been saved, if a record has an error, a new record must be added to correct it, and both the improper and precise records will remain visible. Today, many state educational establishments are in the preparatory stage for applying blockchain-based tools,

The benefits of blockchain can only be realized through “open applications” of the technology.

Blockchain uses open source software– which is a type of computer program, whose source code is unrestricted under a license, in which the copyright holder allows users the right to study, change, and dispense the software to anyone and for any purpose (St. Laurent, 2008).

According to the EU Report of Blockchain in Education, “Further development of the technology in the educational field should be considered as a shared competence of the market and of public authorities, to ensure an appropriate balance of private sector innovation coupled with safeguard of the public interest.”

Furthermore, the main beneficiaries of the adoption of blockchain-based technologies in education are likely to be networks of educational organizations and learners. Charter Management Organizations who manage many schools inside a system, that are already open to trying novel ways of educating and advising their students, may be the perfect group to try to apply this tech in the near imminent future.

Blockchain is revolutionizing main areas of Business Processes

Blockchain is revolutionizing main areas of Business Processes. Our future with XcelToken could bring efficient changing in your way running business process. Let’s see how Fintech, Recruiting and Digital Marketing could be developed with new Blockchain technologies. We can see today professionals in marketing, recruitment, fintech and more are now using blockchain technology to streamline specific business needs. Blockchain technology was introduced with digital currency, but the blockchain concept is rapidly expanding beyond the cryptocurrency universe. Let’s see how other professions are adopting blockchain to particular business needs for more efficient data sharing.

Recruitment

Constant chore for HR departments is locating and onboarding new talent in every company. Blockchain can provide you with a secure but flexible informational source. It’s changing the way businesses recruit employees in the information age. Having some form of verification system in place would reduce much of the risk and save valuable time in evaluating candidates.

Blockchain technology would essentially let participating companies maintain a database of employees, along with their skills, duties, education, and history. It gives an opportunity to compare an applicant’s claims against the experience and credentials that have been validated in the past. This could include a registry of diplomas, certificates, and other honors job seekers might list on their CV. Immediate fact-checking against an extensive blockchain of information could transform the screening and hiring process for companies of all sizes, and at a relatively low cost.

Fintech

Blockchain technology is still widely used for most cryptocurrency transactions. As more companies and consumers adopt these payment methods, it could become a standard method of payment that doesn’t require you to pay for processing services or special software. This means lower costs and potential savings for users. Every company seeks ways to streamline their business operations. More efficient processes lead to improved time management, and to greater productivity and profitability.

The automation and integration of financial tasks into one platform will improve your cash flow and record keeping while freeing up employee time. Blockchain is lower the cost of processing any digital transactions. At present, the majority of business is done using debit/credit cards, a form of digital currency. Including the capacity to process cryptocurrency into the mix will allow your company more flexibility in accepting payments. It will also encourage more sales with a new generation of consumers.

Digital Marketing

The current state of digital marketing is that major internet companies such as Google or Facebook control much of the advertising that takes place. Incorporating blockchain technology into this marketing could allow a level of security and transparency that would enable marketers to quickly assess audience factors such as demographics. This can be done with an efficiency that could save you millions of dollars annually. Blockchain can accomplish this through tracking the use of Basic Attention Tokens, which allow end users to get paid for the ads they view, while the advertiser sells directly to the public. This would effectively put the consumer back in control.

This trend has only made marketing more difficult as users get fed up and seek more confidential channels. A reputation for exploiting personal information has also backfired on companies by damaging their brand. With an encrypted blockchain, users can view the content they choose without marketers monitoring and accessing their viewing habits. Instead, the public can decide who gets their information, for how long, and when. Digital marketers may have less data to go on, but it will be more accurate. One upside is that your company can be confident that ads are reaching the right people, so that marketing funds bring better responses.

Consumers and advertisers alike will benefit from blockchain technology in the digital marketing environment. Blockchain is a versatile technology that can be applied to business practices of many kinds. The benefits of secure and distributed tracking of information will improve the productivity of HR, marketing, payment processes and more. Best of all, it can be done at lower cost than current solutions. These are important benefits that can be passed on to your customers.

Using XcelToken like digital Decentralized Digital Assets, general-purpose utility token based on the ERC20 Ethereum protocol is helping not only hotels, restaurants and marketing partners earn while participating, while travelers enjoy the benefits of a leaner eco-system. XcelToken as a blockchain Utility Token could be used in recruiting, fintech and digital marketing systems too. Stay tuned for more news!

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What Blockchain Technology could solve in Travel Industry?

While blockchain is very much about moving values, it’s also about handling and securing data in better ways. In travel, user profile security and privacy have always been hot topics for XcelTrip. When a company enters into an agreement with a travel management company, airline or other supplier, the company usually needs to give that supplier access to employee data so they are able to provide the expected service.

Whether that process is manual or automated it takes time and effort and creates friction on both sides.

Having information on the blockchain could remove much of the pain on both sides. The companies don’t have to build new API connections between the supplier’s profile database and the buyer’s HR system for every new implementation. And manual profile workflow goes to history.

At this point, most blockchain enthusiasts know that distributed ledger tech has potential beyond fintech. Travel industry which is deals regularly with a number of pain points can be solved by blockchain technology.

Here are some of the more notable issues which blockchain could help to solve: overbooking, fraud, identity and reputation, loyalty and duty of care.

With all these advantages of cryptocurrency in mind find a suitable currency to invest or use XcelToken Plus and book your next journey in cryptocurrency in order to make sure that you reap the benefits of this form of currency transaction.

Powerful Cryptocurrency in Blockchain Voting System

Not many people know how voting takes place in the blockchain. It all starts from a public or a private blockchain. The first concern is related to the user’s privacy. A blockchain should hide the voter’s cast. This process is achievable by using zero-knowledge proofs or encryption methods.

Secondly, each citizen must register and prove their identity. The voter needs to have a unique identification ID. Voters can submit a passport or biometrics like a fingerprint. After that, the identity is recorded on the blockchain associated with that user’s private key and public key.

Instead of a ballot box to cast a vote, a voting token and a smart contract can be used. Each token once sent to the user’s account would have a time limit defined by the smart contract.

All candidates would receive an address. Then citizens can use their token to vote by sending it to the candidate’s address. By following these simple rules, this system can easily count each vote.

The most interesting thing is fact on blockchain everything is immutable and verifiable. None would be able to vote twice or delete votes.

Online voting could be as an alternative to paper ballots or electronic voting machines – has been suggested as a way to not only boost the number of active voters, but possibly even address election security and integrity issues. Might blockchain, a technology that continues to draw attention from technology and business leaders alike, hold the key to making internet voting widespread around the world?

The race for fast delivery of democracy has encouraged numerous countries to turn to internet voting, using secure, scalable, and reliable blockchain voting platform and more countries are testing out blockchain voting.

Switzerland for example recently tested out blockchain voting technology especially because it promised to deliver a faster and easier voting process. Luxoft, Luzern’s Blockchain Lab and the city of Zug recently released a joint report revealing positive results of an e-voting exercise that took place in Zug.

Who knows maybe XcelToken as a blockchain Utility Token based on the ERC20 Ethereum protocol will helps not only hotels, restaurants and marketing partners earn while participating, but could be used in voting system too. Stay tuned for more news!

At the moment you can use XcelToken Plus, a utility token with multiple use-cases, to book your travels on XcelTrip and make sure that the future of cryptocurrencies is bright.

Best Cryptocurrency to invest is XcelToken Plus

Blockchain technology has endless possibilities which opened many doors across many industries in its application to improve processes. Payment processing and money transfers are cheaper. Transactions are more secure and contracts are made smarter. Its adoption is widespread, so it’s not surprised that Blockchain technology becomes commonplace in everyday processes you encounter on a daily basis.

Many opportunities are open for users XcelToken Plus – ERC20 token on the Ethereum Blockchain Platform that is fashioned to build, involve and foster a large crypto-community within the hospitality, retail and gaming sectors. Keep reading if you want to know more about token adoption and perspective investment.

As you may already know XcelPay – merchant POS, digital payment wallet and crypto payment gateway. XcelPay is integrated into an easy to use, crypto wallet that is enabled for both mobile and tablet use, makes sure that sending and receiving payments in crypto is a secure process.

XcelPay aims to cut out bank/card transaction fees, currency conversion fees that produce a damaging effect on the retailer’s and consumer’s margins, making this a shopaholic’s ultimate companion.

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XcelToken now on LATOKEN!

XcelToken Plus is an ERC20 token on the Ethereum Blockchain Platform that is created to build, engage and foster a large crypto-community within the hospitality, retail and gaming sectors. With more than 100,000 token holders, XcelToken Plus, XcelLab is proud to announce that XcelToken Plus will now be available for trading on LATOKEN. To know more about LATOKEN, keep reading on.

LATOKEN

LA (top 100 cryptocurrency by Coinmarketcap) is the main currency on the LATOKEN platform. It is a utility token which has been confirmed in a legal memorandum prepared by White Summers Caffee & James, a premier technology, and international law firm based in San Francisco with 18 years of experience. The memorandum states that “LA Tokens have a distinct utility purpose separate from producing profits”. Some of the features on LATOKEN include: Instant exchange (LA DIRECT) advanced trading feature and crypto/fiat gateway.

XcelToken Plus is adopted into usage on XcelTrip– an online travel booking platform where you can check-in at over 800,000 hotels and book tickets with over 400 airlines, XcelPay– a merchant POS and digital payment wallet through which you can now recharge your phones with 900 different carrier services and in 160 countries, with cryptocurrency. The token will also be adopted into multiple use-cases soon.

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