How Bitcoin Could Make Asset Managers of Us All

As hackers grow faster, more numerous and more efficient, many companies are struggling to protect their websites from cyber threats. Statistics don’t lie:

• Over 360,000 new malicious files are discovered every day

• There were 1,188,728,338 known computer attacks in 2017.

• Damages to businesses from cybercrime are expected to reach $6 trillion by 2021

• Global spending on cyber security is likely to exceed $1 trillion between 2017 and 2021.

These staggering figures clearly show why organizations must make website security a key priority. There are various types of cyber attacks and malware. It is critical that every IT department understands the following risks: viruses and worms, trojans, suspicious packagers, malicious tools, adware, malware, ransomware, denial of service, identity theft, cross-site scripting (SQL injection), password brute force attack , and session hijacking. When these cyber intrusion attempts are successful (which is often), the following can happen:

• Website defacement – ​​unwanted content placed on your website

• Websites are down (your website is down)

• Data is stolen from websites, databases, financial systems, etc.

• Data is encrypted and stored for ransom (ransomware attack)

• Server abuse – spamming webmail, to serve illegal files

• Server abuse – part of a distributed denial of service attack

• Servers hijacked for Bitcoin mining, etc.

While some attacks only pose minor threats such as a slow website, many attacks result in serious consequences such as massive theft of confidential data or indefinite website downtime due to ransomware. With that in mind, here are 15 best practices your IT department should be using to protect your organization from malware and cyber hacking.

1. Keep your software up to date.

It is crucial to keep your operating system, general applications, anti-malware and website security programs up to date with the latest patches and definitions. If your website is hosted by a third party, make sure your host is reputable and keeps their software up to date.

2. Protect against cross-site scripting (XSS) attacks.

Hackers can steal login credentials and cookies from users once they’re accepted or registered by injecting malicious JavaScript into your coding. Install a firewall and protection against injecting active JavaScript into your pages.

3. Protect against SQL attacks.

To defend against hackers injecting rogue code into your site, you must always use parameterized queries and avoid standard Transact SQL.

4. Double data validation.

Protect your subscribers by requiring browser- and server-side validation. The double validation process will help block the insertion of malicious scripts through form fields that accept data.

5. Don’t allow files to be uploaded to your website.

Some businesses require users to upload files or images to their server. This poses significant security risks as hackers can upload malicious content that will compromise your website. Remove executable file permissions and find another way for users to share information and images.

6. Maintain a robust firewall.

Use a robust firewall and limit external access to ports 80 and 443 only.

7. Maintain a dedicated database server.

Keep separate servers for your data and web servers to better protect your digital assets.

8. Implement the Secure Sockets Layer (SSL) protocol.

Always buy an SSL certificate that will maintain a trusted environment. SSL certificates create a foundation of trust by establishing a secure and encrypted connection for your website. This will protect your site from rogue servers.

9. Establish a password policy.

Implement rigorous password policies and ensure they are followed. Educate all users about the importance of strong passwords. Essentially, require all passwords to meet these standards:

• Length is at least 8 characters

• At least one capital letter, one number and one special character

• Do not use words that can be found in a dictionary

• The longer the password, the stronger the security of the website.

10. Use website security tools.

Website security tools are essential for internet security. There are many options, both free and paid. In addition to software, there are software-as-a-service (SaaS) models that offer comprehensive website security tools.

11. Create a hack response plan.

Sometimes security systems are bypassed despite the best attempts at protection. If this happens, you will need to implement a response plan that includes audit logs, server backups, and contact information for your IT support staff.

12. Set up a background activity logging system.

To track the entry point for a malware incident, make sure you track and log relevant data, such as login attempts, page updates, coding changes, and plugin updates and installations.

13. Maintain a backup security plan.

Your data should be backed up regularly, depending on how often it is updated. Ideally, daily, weekly and monthly backups are available. Create a disaster recovery plan that fits your type and size of business. Make sure you keep a copy of your backup both locally and off-site (there are many good cloud-based solutions available), which allows you to quickly retrieve an unchanged version of your data.

14. Train your staff.

It is imperative that everyone is trained on the policies and procedures your company has developed to keep your website and data secure and prevent cyber attacks. It only takes one employee to click on a malicious file to create an opportunity for a breach. Make sure everyone understands the response plan and has a copy of it readily available.

15. Make sure your partners and suppliers are secure.

Your business may share data and access with many partners and suppliers. This is another potential source of infringement. Make sure your partners and vendors follow your web security best practices to protect your website and data. This can be done using your own auditing process, or you can subscribe to software security companies that offer this service.

Even a top-of-the-line computer system can quickly be brought down by malware. Don’t delay implementing the above security strategies. Consider investing in cyber insurance to protect your organization in the event of a serious breach. Securing your website from hacking and cyber attacks is an important part of protecting your website and keeping your business safe.

Administrative assistant salary varies due to various factors. While location is important, your skills and qualifications are also important criteria in determining your salary.

People who don’t have the college credentials to join the service of choice can now climb the corporate ladder with administrative assistant jobs. If you have a high school diploma and some business knowledge, you could start working as a business administrative assistant. Not only will it help you earn good money, but you can also start learning about the corporate culture as you grow.

Qualifications and skills

For the position of administrative assistant, companies are generally looking for candidates with exceptional data entry and typing skills, computer skills, communication (oral) and excellent spelling and grammar. If you weren’t able to acquire this knowledge in your high school, you can try some certificate courses or two-year programs offered at various community colleges and business schools. With these qualifications and skills, you can expect an average salary of $41,650 per year, according to the Bureau of Labor Statistics, as of 2009.

Great employers

The best place to find administrative assistant jobs is to search for jobs or employers that employ the most workers in this field. This primarily includes universities and colleges; state government and local government offices. Colleges are estimated to employ over 91,000 administrative assistants annually, paying an average salary of $20 an hour. There are other places, such as the postal service, that offer wages of $30 an hour, at most. Peripheral and computer manufacturers are also in demand for administrative assistants, with a median salary of $27 per hour.

Talent and expertise

To earn the highest administrative assistant salary range, you need to improve your skills by learning things that are in high demand. For example, knowledge of computers, especially Microsoft Office, is the most necessary expertise that helps in effective communication. If you know computers well, you can easily earn a fee of $30,000 to $44,000 per year. This is a 2011 PayScale report.Accounting is a basic requirement that will help with bookkeeping and maintenance, and pays an average salary of $30,000 to $41,600 per year. Another important area of ​​work is customer relationship and management which allows you to build goodwill with customers and helps increase demand for the company’s products and services. You can easily earn a salary of $67,000 to $38,000 per year.

Opportunities for growth

As administrative assistants, individuals can grow over time, with their knowledge and skills within the company, eventually giving them greater responsibilities and higher salaries. As you start as an administrative assistant, you will progress, step by step, to office managers. You can also become a professional trainer, experience in teaching specific computer applications, due to which you can be invited to various schools as new assistants. If you are certified by a national organization that can document your knowledge on paper, you may even earn better compensation. Once you become a Certified Administrative Professional, you’ll have a better chance of earning more compensation.

The growth in the average administrative assistant salary has been good over the years. The figure is likely to increase in the coming years.

US exports continue to grow, but many US companies lack the international business know-how to capitalize on this potential source of increased sales and profits. Increasing trade agreements and a weakened US dollar have resulted in one of the most favorable export markets in decades. Foreign importers of American goods report increasing demand for American products – from popcorn to pet food. The US has enjoyed 11 consecutive quarters of rising exports – but with 95 percent of the world’s population living outside US borders and an increasingly promising outlook for international sales, experts wonder why only 5 percent of US companies are currently exporting. But how to start and sustain growth in unknown markets?

1. DEFINE STRATEGIC NEEDS

Entering new markets provides an opportunity to increase revenue and profit. However, this initiative must be in line with the company’s overall strategy. Inconsistent, sporadic, or misdirected deployment of resources aimed at international growth can result in a failed initiative that absorbs limited resources with little return. Barriers to entry (duties, regulatory and trademark restrictions) must be identified and addressed. A SWOT analysis detailing a company’s strengths, weaknesses, opportunities, and threats will identify and help maximize a company’s strengths, minimize its weaknesses, and focus on international opportunities.

An international growth plan in line with the corporate strategy will increase the chances of success. Tactical aspects of international development such as sales, distribution and marketing should be addressed. International growth factors can differ enough from American models that a lack of familiarity can dramatically reduce the chances of success. Above all, there must be clear direction, full management support and dedicated resources.

2. PROVIDE ADEQUATE ASSISTANCE

Small or medium-sized businesses starting or expanding internationally will find the US Department of Commerce (DOC) an enthusiastic partner in helping US companies succeed on a global scale. This organization coordinates resources from all 19 federal agencies to help US businesses plan their international strategies in an increasingly globalized environment. In an unfamiliar foreign market with confusing regulations, uncertainty and risk, DOC can help US companies navigate the process of selling abroad and avoid pitfalls such as payment defaults and trademark and intellectual property abuse.

DOC Commercial Services provides a surprisingly effective range of quality services, including country market research, trade events and missions, trade contacts and introductions to potential business partners. The Export-Import Bank and the Small Business Administration are teaming up to help finance the export of American goods and services to international markets, enabling companies to turn an international advantage into solid sales.

Firms specializing in international business development can help jump-start foreign expansion. These firms are groups of highly trained, experienced professionals who offer practical, cost-effective assistance to companies committed to maximizing revenue and profit potential through accelerated international growth. The range of services varies from company to company, but overall they help companies to design, implement and manage large or small international business development projects. These services can range from identifying overseas market potential for a product to managing a firm’s export sales to identifying and qualifying foreign strategic alliances.

A company that wants to penetrate the international market should allocate a fully dedicated resource to this initiative. This individual should be the pillar that connects the resources, knowledge and culture of the organization with the international initiative. As the business evolves, additional resources need to be allocated to maximize the opportunity. These should be considered investments, not costs.

3. DETERMINING MARKET ENTRY STRATEGY

A firm’s appropriate market entry strategy will largely depend on its level of international development. For a company just beginning its international development, market penetration through domestic distributor sales can be the fastest and most cost-effective way to enter a foreign market. Selling through domestic distributors is relatively low risk and will provide valuable learning opportunities. Once the target country or region is determined, a process that will naturally follow from the SWOT analysis, the selection process can begin. Various US government agencies and trade associations can provide a wealth of data to begin narrowing down your choices.

Trade publications and events are also great sources. Factors to consider when selecting a market may include criteria such as the regulatory environment, market size and potential, entry costs, and competitive environment. To further narrow down the possibilities, a visit to the country is required. Once there, using trade leads, competitive assessments, local government assistance and interviews with potential candidates will provide additional information and insights. The main considerations in selecting a distributor are: willingness to commit a dedicated resource, market leadership or experience, marketing savvy, complementary and non-competing products or services, site inspection and financial stability.

Penetration into a new international market is often perceived as an extension of the existing domestic business. Consequently, many US companies bypass standard business guidelines that require rigorous market analysis. Only after detailed due diligence can a service or product offer and accompanying marketing programs be developed.

A company’s preferred mode of entry—domestic distribution, joint venture, merger, or acquisition—will depend on that firm’s primary goals from opportunistic sales to positioning for long-term market-driven growth.

Economic globalization will increasingly lead to the creation of strategic alliances. US companies need to ensure that potential partners share short-term and long-term goals to minimize differences in ideas and efforts. Shared values ​​and shared business/ethical standards will improve communication, transparency and effectiveness. Partners should have complementary strengths and weaknesses to build a stronger and more effective alliance. Principles and processes for conflict and relationship resolution must be developed and agreed upon by all stakeholders in order for the partnership to function smoothly.

4. DESIGN EFFECTIVE MARKETING

All markets have common characteristics. However, effective international marketing begins with the awareness that markets are also different in ways that are not immediately obvious. The key is to understand consumers and identify their needs through culturally specific market research. Focus groups can be particularly effective in identifying the wants and needs of international consumers. The advertising agency used in the development of the offer should be local or have a local representative office. Employees with a thorough knowledge of market characteristics and idiosyncrasies will be particularly effective in conveying the desired message and creating and enhancing the brand image. Language skills and an aptitude for different cultures are critical tools for international marketing.

Flawless performance is key. As the firm executes an international strategy driven by a solid business plan, it is important to celebrate milestones and benchmark against industry leaders.

Although not all-inclusive, these four steps will serve as a guideline for successful international market entry and growth.

The latest technologies have shaken the taxi booking industry to a greater extent and now hailing a cab is extremely easy with the latest taxi booking business model. Uber is playing a vital role in changing the taxi booking industry with its amazing features.

The main advantage of starting a taxi booking business is to help entrepreneurs to come and expand their business wisely. Let’s see what are the features that have completely changed the taxi booking industry with their progress.

The latest techniques to quickly connect drivers and riders:

The Uber clone script should help connect nearby drivers with needy customers without delay. Just by providing some necessary information, drivers should be offered to choose their cars for their immediate needs. So the app should be designed to support all mobile OS. The techniques used for payment, data management, tracking should also be up-to-date.

No interruptions while tracking:

Checking the availability and tracking cars near the driver’s location should be simple and easy with the features available in the clone script. After logging into the app, the mapping and tracking facilities should help users track the car in a fraction of a second.

When creating an application in accordance with Uber’s operating conditions, every business person must give special importance to the operation of the entire Geolocation system used in the application. A minor mistake in the integration of the navigation system, user interface, geolocation and performance can result in the failure of your application.

It should have flexible payment methods:

A business like Uber, the primary method is the final method to complete their jobs. The clone script should support all forms of payment including cash payment, electronic payment and cashless payment that users prefer to pay the amount.

Uber has an impressive and innovative payment system. The overall lack of cash payment methods has given way to online payment methods promoted by payment gateways such as PayPal, Bitcoin, Visa and Mastercard etc. in creating such applications for booking taxis.

Turns difficulty into ease:

Taxi booking process has checklist like booking, tracking, car list, car availability, taxi arrival confirmation and many other things are burdensome in olden days. In contrast, online taxi booking application with the help of advanced technology helps to get rid of every difficulty in simplicity. It also offers a great journey with the flexibility to choose your preferred taxi, currency, language and current location settings.

Profitable features for entrepreneurs:

Classification of car types is one of the significant features that helps the entrepreneur to reach more in the market. It will help you reach more and attract the attention of many users, it will help your business grow. To create a business like Uber, don’t think too much and feel free to contact us. We will help you start your business in a limited period of time. Visit us

https://www.trioangle.com/uber-clone/

“AI”… of the human kind!

“Which came first, the chicken or the egg?”

You may recall a publication several years ago describing our growing dependence on machines, devices and “AI”. On several occasions I have tried to bring awareness to this phenomenon of the ability of artificial intelligence to create and/or recreate itself… over and over again. What was once a ‘sci-fi’ story has been brought to life as scientific fact.

The article, “Device Machine Dependent,” describes cases and descriptions in which robots or robotics are designed to mimic the actions, abilities, and appearance(s) of humanity… “Human-like”; “The image of his maker!”

How many times have you been in your car and engaged in an argument or argumentative interaction with your ‘GPS’ or “on-board interface?” Come on now… didn’t you get mad and scream at the device when the voice behind it screwed you up or got you wrong? Of course you are.

Selene Yeager, the author, spoke about a PhD student at Stanford University who specializes in human-technology interaction.

“We (people) are confused and angry because we don’t know what ‘GPS’ means,” says David Miller.

However, this author (yours truly) is and has been guilty of that type of behavior. I remember typing in the direction (when that wasn’t satisfactory, I tried turning on the voice command option), the damn thing told me; instructed me to take the highway and get out… I followed suit. When I realized that the directions were completely wrong – the cursed voice put us on the “Highway to Hell!”

We traveled sixty miles outside and beyond our planned destination of “Pocono Mountain”.

Well, I’m here to tell you, for a moment (Oh, like many) I went crazy and started screaming out loud inside the ‘GPS system.’ Miller went on to say, “In the future, when GPS is giving you directions, it could give you a rationale, so you’ll have a better two-way relationship.”

… Yeah, right. I am happy when and if the thing leads me to my unknown destination(s)… the right way! I don’t want to be too hard on the device… it’s a pretty good little tool when it works as expected.

“A Bite Of The Apple” addressed the ‘IT’ community about the big questions surrounding Apple’s stance on “secretive and proprietary practices” in the tech world; hardware and software – especially its hardware products. Apple’s ‘IT’ decision makers represent an ergonomic flaw that reveals a preference. They said the form is “Apple-like” in relation to function, ie. that the iMAC connectors on the back of their machines are designed and/or decided with anal retention.

Their ‘IT’ management team describes one possible meaning of “anal retention”. It is the point on the curve where the curvature changes from convex to concave or vice versa. It can also be called “bend point” or “bend point”. Apple management says that its proprietary devices give more effect to marketing to business customers. Apples devices are making their way into the company because ‘IT’ managers like them, not users.

The ‘end user’ report highlights this fact, suggesting that the products are equally good and great in terms of ease of use, design and reliability. Does anyone remember the definition of cloning?

Many of us have computers in our homes today. And many others feel they are and believe they are one step ahead as they use home robots like “Alexa” or IBM’s “Watson” and countless cloned devices that clean, monitor and coordinate their daily lives or lifestyles.

Where is your cell phone?

It used to be a desktop computer that was the central ‘Internet’ connection. Then it was ‘Laptop’. The “Tablet” is still popular these days, but the “Smart-Phone” trumps them all. All you have to do is simply look around… Look and see how many people walk, run, ride, drive and fly… depend on these continuous devices to sustain their existence and their very lives. this planet.

Not too long ago, a vicious computer virus took control of about 400,00 computers in more than 160 countries in one of the worst international cyber attacks and computer infections.

The virus has blocked all access to programs, files, hosts and networks unless the computer’s owner(s) pay a ransom. Outstanding funds can only be paid out via “Bitcoin”.

Bitcoin is an online currency that is almost impossible to trace. Bitcoin currency is traded to purchase “ransom keys”. Often victims have paid money only to not get the key to unlock their computer (or) system, losing both money and their data.

This incident should serve as a major wake-up call to users with much encouragement of the procedure(s) that must be performed on the computers and Internet devices they care for or use to prevent viruses, botnets, web browsers, malware, worms, etc.

I certainly agree with the author, Doug Shadel, in suggesting that users/owners regularly back up your important files to an external drive or remote storage service; that your web browser has a pop-up blocker running at all times; immediately leave websites to which you were redirected without your consent; use a reputable antivirus program – keep it up-to-date at all times; make sure your software (and anti-virus software) is up to date; do not click on links or open attachments from email addresses you do not know; and buy only legitimate software – and register it.

Remember the scene in Star Wars where the bar tender yells at ‘Luke Skywalker’ to kick his droids out of his establishment?

That scene is the result of human prejudice against machines or robots. The auto industry and workforce in Detroit, Michigan is almost entirely equipped with robots (or robotics). Robots perform major surgeries on both humans and animals. Robots prepare food, package and ship items, drive cars, and diagnose human illnesses and diseases. Robots answer phones and redirect calls. Robots call you on your phones, remind you about overdue bills, appointments, prescription pickups, and try to sell you goods and other services. Robots build bridges, buildings and homes. Robots do almost anything and everything that a human being or an animal can and has done. Ask yourself… how many jobs have been lost and lost to robots?

“Many companies use sentiment analysis to gauge the mood of social media and/or the web… but gaining insight requires new tactics and skills,” said Techweb’s Doug Henschen.

“New tactics and skill sets are definitely needed to get a foothold in the new world of IT, BI, communications and analytics.” This conclusion was postulated in the published article “Destruction and creation – hyperbole of new jobs.” No one can deny the massive and sweeping changes that have taken place in the ‘new world economy’ of this century. What will happen in the centuries to come – will we be “Star Trek-Like?” How about a world and a future like that of “Logan’s Run?” Will robots become the new judges, lawyers, congressional appointees, senators or presidents? Those of us who are aware, interested and/or motivated to continue mankind’s reign over machines must become masters of both sides of IT/BI.

AI: Artificial intelligence… is contrasted with natural (human/animal) intelligence… the ability of computers or robots to do what humans or animals usually or habitually do – with intelligence or intelligent abilities. ability to think.

How long will it be before humans (mankind) are completely outwitted by “AI” – becoming completely and utterly our replacements as opposed to being our servants of old?

“How long? Not long!”

Doesn’t this argument make you wonder…

“AI”… of the human kind?

“Which came first, the chicken or the egg?”

Until next time…

‘G’

At a time when the technology was in its early stages, departments like HR, finance, customer relations, sales, etc. they had different software to perform different activities. And there was a lot of software, managing it was a demanding task. In addition, increasing threats of data leaks have made the situation worse.

And in 2005, Odoo, an open-source ERP appeared as a savior. It helped businesses manage every application from a single space. And it soon became one of the fastest growing platforms with more than 14,000 third-party apps/add-ons available in the app store.

Odoo in brief:

Odoo is a collection of business applications including CRM, e-commerce, billing, accounting, manufacturing, warehousing, project management, and inventory management. A few reasons why Odoo became popular are:

• Open Source ERP

• User friendly

• It has custom features

• Scalability

• Industry specific modules

• Frequent upgrades according to changes in technology

• Freedom to download selective applications according to your needs

• Lower implementation costs and more

Odoo Ecommerce is one such platform that provides you with many benefits as it seamlessly integrates with other Odoo business applications. And that’s why around 4+ million people develop their business using Odoo Development Services. Some of the popular brands that use Odoo are Toyota, Hyundai and PCI. So if you are planning an Odoo based e-commerce it is really a good choice as you will get several benefits. This post highlights the main advantages of Odoo Development.

Let’s get started!

1. Craft eye-catching product pages

First, let’s look at an interesting example. Lush is a cosmetics company based in Great Britain. This company informs and educates its visitors about their fresh handmade cosmetics. Each product has a featured video to help visitors understand the product clearly. Below is a picture of the detailed ingredient list of the lip balm under the product description.

Now imagine that you as a customer are looking for this particular product on this website as well. Now with the video, you learn all about the natural ingredients used, the benefits of the product and how to use it, and you get a convenient ‘add to cart’ option. All the necessary information in one place. I bet you won’t ask for more and you’ll end up buying more than what you decided on.

This is what you call a good example of a well-run product catalog that provides visitors with all the information they are looking for. Almost 81% of customers research products online before purchasing. Product information, price and reviews are a few parameters that every consumer will consider before making a purchase. Therefore, retailers must present what consumers are looking for. This is where an effective product management strategy and a well-managed product catalog come into play. It helps web store visitors to easily access your products. For the owner, this will allow them to add new products and periodically remove outdated ones.

If you have an eCommerce store, you would like to have easy product management that helps maximize the customer experience. With Odoo development, you can create detailed product pages, add images, banners, calls to action, slides, etc. Designing and editing product details has become relatively easy with Odoo. You can connect and integrate all information throughout the system seamlessly.

Odoo software also offers a simple ‘drag and drop’ option to help add product pages. You can customize the look, colors and theme of your store.

It couldn’t be easier!

2. A range of options with Payment Gateway

Now let’s assume that your eCommerce store offers only one payment method. What if one day it fails due to some technical glitch? Or you have a customer who is about to checkout, but you don’t have the payment gateway they prefer and oops! He left!

The expression ‘the more the merrier’ goes very well with multiple payment methods in an eCommerce store. According to a JP Morgan report, 73% of online consumers decide whether to make a purchase from a company based on the type of payment it accepts. There are multiple benefits of multiple payment gateways such as convenience for users, improved conversion rate, working as a backup if one gateway goes wrong, customers feel more secure, increased international sales and more.

Odoo extensions and applications available on the market give you the ability to integrate and customize different payment modules. It allows users to pay with PayPal, credit and debit cards, Visa, Bitcoin, Authorize.net, as well as stripe. So you can choose the payment option that is most compatible with your store. It also provides flexibility as each business has a different payment method.

3. Increasing return on investment

You have invested thousands or maybe millions of dollars in your online business. So you bring home the bacon at the end of the day? Are you getting a good amount in return for the investment you made? This is the ROI. ROI is an important metric to consider when running an online store. It helps in calculating the success of your investment.

Most businesses use Odoo in the cloud or SaaS to automate their business. The main reason is that SaaS-based models or Odoo cloud services help you reduce your costs. By merging SaaS-based Odoo models, you can realize faster returns and enjoy the benefits of ERP integration.

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Managing your eCommerce store is not an easy task. With the industry growing at a colossal rate and thousands of solutions available, it becomes difficult to choose what is best for you. This post aims to introduce you to the main advantages that the Odoo platform offers. Hope this was helpful!

Want to learn more about Odoo development? Contact BiztechCS now.

The chicken has come home to roost. This is a common phrase heard from commentators following the recent bombshell from the Central Bank of Nigeria that led to the sacking of the CEOs of five commercial banks. Banks are rated as financially unhealthy. The Nigerian banking and finance industry has for some time been awash with rumors of ill health, unfair demarketing practices and the need for a comprehensive overhaul of the system.

Although some knowledgeable commentators have argued that this is a welcome development that is long overdue, it is my humble opinion that there may be more serious issues that need to be addressed beyond the changing of the guard at the top of these institutions. It is the only bold step that signifies that proactive risk management has taken center stage in the Nigerian banking industry.

First of all, the action clearly confirms that the stories about the liquidity crisis faced by certain banks are true. If out of the ten (10) banks surveyed so far, five (5) had to receive the hammer, then we have a serious problem because that represents fifty percent (50%) of the sample size covered. What happens when the examination of the remaining fourteen (14) banks is completed?

One can only imagine the decline the industry will face after these revelations. The CBN Governor’s assurance that no bank will be allowed to fail is a strong reassuring measure. However, when it comes to money matters, I’m sure the average individual will not want to take the risk.

Another worrying development is the main reason cited by the CBN as the basis for the dismissal, which can be summed up as poor corporate governance practices. In short, the global financial crisis has just managed to expose very poor corporate governance practices in our banking industry. I want to say categorically that no institution anywhere in the world, with or without a financial crisis, can survive for long with poor corporate governance practices. Bad corporate governance is reflected in weaknesses in internal controls, so the institution’s assets are not protected from abuse. And when the safety of depositors and shareholders’ funds is threatened, any system, no matter how big and attractive it looks, can eventually fail.

This brings to mind a very vital lesson in business/corporate failure as it relates to financial management. Businesses usually fail not because of a lack of profitability, but more because of a lack of liquidity. The lesson here is simple; Cash flow is as important as profit. Understanding this sacred canon is at the heart of successful business management. It does not matter whether it is a company from the public or private sector. The rule is universally applicable.

Other questions that require answers include:

1. What is the level of involvement of non-executive directors, subsidiaries and other key actors in the financial positions of these banks?

2. Since shareholders’ funds are significantly reduced, to what extent is the impairment and how long will it take to fully recapitalize the institutions to the appropriate status after the CBN takeover?

3. What are the new corporate governance rules for the new management teams of these banks entrusted with public and private financial resources?

4. What collection mechanisms are being put in place to ensure that the authorities fully recover all monies owed to these sick institutions?

5. For all financial institutions in Nigeria, what is the ratio of total marginal loans to total deposits, the ratio of total marginal loans to shareholders’ funds and also the ratio of total marginal loans to total loan portfolio?

6. What is the structure of their marginal loans? There is a need for a detailed review based on industry, age and loan servicing history.

7. If the affected institutions were net borrowers of funds from the industry, how long has this been going on and what corrective actions have been taken by those responsible so far?

8. What actions are necessary to prevent further decline in bank share prices in the Nigerian capital market as the industry prepares for another round of share price crisis?

9. What is the legal, administrative and operational framework of these institutions after the takeover of the CBN?

10. Who takes ultimate responsibility and for what and to what extent, if these institutions do not continue to operate in the near or distant future under the supervision of the CBN?

It is my opinion that finding concrete and valid answers in detailed terms to the above questions will help to allay the fears of depositors, build investor confidence and ultimately protect the Nigerian national economy.

Why you should keep track of gift certificates

If you are a small business and you give/sell gift cards (also called gift vouchers) to your customers, chances are you don’t have an integrated gift card solution which can be quite expensive.

Therefore, if you offer gift vouchers to your customers, you need a way to track them, mainly for fraud and accounting reasons. Let’s see why this is necessary:

• you need to prevent customers from being scammed by reprinting gift vouchers, losing your business money.
• if you allow customers to redeem a partial amount of the certificate’s value, you need to know what amount is still available for redemption.
• you also need to find out which certificates have been used, if you want to evaluate the performance of your certificate program.
• you may be interested in getting more detailed knowledge about the gift voucher: when it was sold, what promotion it was part of, etc…

Gift voucher tracking using a manual code

In this tracking system, each certificate is required to have a unique, random certificate number. Indeed, to be able to identify a certificate, its serial number must be unique. The random number is also important because it prevents people from reprinting the certificate and using a text formatting program to change its serial number to make it look like a valid new one. In fact, to reduce the chance of people guessing a valid code, you can include letters and other special characters in the serial number.

How to generate gift voucher codes

You can use random code generator software or generate the codes yourself. In any case, make sure you have a registry of current certificates in use. You can use Microsoft Excel or any spreadsheet program to maintain such a list. You need to make sure that customers can’t see such a list, because you don’t want them to know the valid certificate numbers. In this file, you may want to include the certificate’s serial number, date of issue, value of the certificate, amount redeemed, and any other information you find valuable to track, such as what promotion the certificate is part of, whether it was sold or given to a customer, etc. .

An easier option: generating barcodes for gift vouchers

If you want an easier and more automated way to track gift vouchers, you can print a barcode on each gift voucher to integrate nicely with your point of sale software. Contact your point-of-sale software vendor to see if they can provide such integration.

The statistics could no longer be ignored. Most ICOs are canceled, and remain loaded, once the tokens hit the crypto exchanges, after the frenzy and ‘FOMO’ of attending the sale is over.

Most observers of the ICO phenomenon universally agree that the trend over the past few months has been for ICOs to lose value after the sell-off, with many buyers waiting in vain for the promised ‘month’ after the cryptocurrency hits the exchange portal.

What is not discussed, however, is the main reason why we are witnessing this phenomenon and that crowdsale participants, including the rating companies that most of us rely on to make our choices, must be wrong in choosing which ICO has the most value, or has the greatest likelihood of increasing in value after the sale is over.

While there are many reasons that can legitimately be cited for this phenomenon, there is one fact that I think is probably more responsible for this than most of the other competing reasons: ICO token valuation and the misplaced emphasis on ‘blockchain experts’, ‘ICO advisors’ or ‘ technical whizkids’ for erc20 tokens.

I’ve always thought that the need for blockchain technical experts or ICO technical advisors is exaggerated, or even completely misplaced, when judging a project by those criteria, unless the project is actually trying to create an entirely new coin concept. For most ERC20 tokens and copy coins, the really important consideration should be the business plan behind the token and the management backgrounds and executive profiles of the team leaders.

As everyone involved in the industry should know, creating ERC20 tokens from Ethereum or similar tokens from other cryptocurrencies does not require any great technical skill nor does it require any overpriced blockchain advisor (in fact, with the new software that exists, an ERC20 Token can make a complete technical novice in less than 10 minutes.

So technicality shouldn’t even be a big deal for tokens anymore). The key should be the business plan; level of business experience; competencies of the project manager and the business marketing strategy of the main fundraising company.

Frankly, as a lawyer and business consultant with more than 30 years of several companies around the world, I cannot understand why people keep looking for some Russian, Korean or Chinese ‘Crypto Whiz’ or ‘Crypto Advisor’ to determine the strength of an ICO for what is basically a crowdfunding campaign for BUSINESS CONCEPT…

I strongly believe that this is one of the main reasons why most ICOs never live up to their prelaunch hype. In an era where there is an abundance of token creation software, platforms and freelancers, a disproportionate focus on the blockchain experience or technical ability of promoters is largely misplaced. It’s like trying to judge the likely success of a company based on the ability of its staff to create a good website or app. That train left the station long ago with the proliferation of tech workers on freelance sites like Guru; Upwork, Freelancer, and even Fiverr.

People seemed to get too caught up in the hype and technical qualifications of people promoting ICOs, especially ERC20 Ethereum based tokens, and then wonder why a technically superior Russian, Chinese or Korean guy can’t deliver the business end of a company after a fundraising campaign.

Even many of our ICO rating companies seem to have assigned a disproportionate number of points to a team member’s crypto experience, how many crypto advisors they have, and the ICO success experience they have on their team, instead of focusing on the core business model to be created by the collected means

Once it is understood that more than 90% of cryptocurrencies and ICOs are simply tokens created to raise funds for an idea and not just a token for token’s sake, then people’s emphasis will shift from technical angles to more relevant evaluation work. the business idea itself and the corporate business plan.

When we move into this era of evaluation before deciding whether to buy or invest in a cryptocurrency, we will then begin to evaluate the future prospects or value of our tokens based on sound business considerations such as:

– Swot analysis of the company and its promoters

– Management competence and experience of team leaders

– Validity of the business idea beyond token creation

– The company’s marketing plan and strategy for selling those ideas

– Ability to deliver basic products to the market

– Customer base for products and services to be created by the company

– and the basis for projecting market adoption

What most people fail to realize is that the potential for their tokens to increase in value after an ICO does not depend so much on anything technical, but on the good things happening in the fundraising company and the perceived increase in the company’s valuation as it develops its business plan and delivers their business products.

Of course, buying cryptocurrency is not buying shares, and it is not buying securities in any company. We understand that, but tokens react the same way stocks react to good or bad news about a company. The only difference is that in the case of cryptocurrencies, the effect is multiplied 100 times.

So when a company reaches some financial or business milestone, the price of its token on the stock market will rise… and fall quickly when nothing good happens. So what the company will do and how it will do it after the ICO should be of utmost importance to anyone who doesn’t want to see the value of their tokens go down and stay down forever.

Of course, most of the tokens would fall when the tokens come to the crypto exchange after the ICO, because of those who want to make an immediate profit, but whether it will ever come back and give you the expected multi-digit profit will always depend on the criteria I already stated above . After you have bought a token, the value of ‘crypto advisor’ and ‘technical moves’ goes to zero against the potential of your tokens for the month.

Following this reality, I think a smart crypto buyer or investor should focus less on how many crypto advisors a project has or how technically sound the team is (unless the company’s main business is technical in nature) and focus more on managerial, marketing and potential customer base of the company by raising funds through ICO.

In other words, award more points to the business and management side of the ICO instead of the technical jargon that won’t help your token in the market once the money is raised!

The Central Bank of Ghana continues its efforts to rehabilitate the banking sector. Notably, among some of the obvious sanctions he carried out was the mandatory takeover of two private banks: Capital Bank and UT Bank back by the state-owned Ghana Commercial Bank under the authority of the Bank of Ghana in 2017. still implemented by the Central Bank of Ghana, the sector still needs some stability. Currently, Ghana’s banking sector is unstable, although its outlook looks good in the not-too-distant future if the Central Bank implements major regulations and activities.

A sector that is still nursing wounds in relation to last year’s sanctions for 2 banks, and another bank experienced direct sanctions from the central bank, i.e. Unibank, (it was named the 6th best company in Ghana at the 2017 Ghana Club 100 awards). Currently, the Central Bank of the country announced that on March 20, 2017, it mandated and authorized the Management of Unibanka (privately owned bank) to dissolve and take over KPMG. Interesting!

Now the Bank of Ghana itself needs house cleaning. It is highly unacceptable to monitor a sector from which a player is rated 6th best just because he is said to have withheld some important data. The central bank, however, has its own defense for the lawsuit against Unibank that the bank persistently maintained a capital adequacy ratio close to zero, which could practically mean that Unibank is insolvent. The reports of the Central Bank state that Unibank was ordered to refrain from approving additional new loans to clients, however, the Bank did not comply with the directive and continued approving new loans. Also, Unibank was directed to forego any additional capital expenditures that it (Unibank) did not comply with, in violation of Article 105 of Law 930.

Admittedly, Unibank has been a creative bank if their banking activities over the years are viewed from a distance, as such, the Central Bank and KPMG’s guide to the bank should be one that will not break their positive employee and customer culture that is readily seen to “vibrate” between their clients and the bank. Unibank has several very loyal clients, a large number of whom are traders. The Bank of Ghana should therefore lead Unibank, taking into account the existing brand and finding obvious ways to revive the bank.

Having said this, the number of Universal Banks is too much for Ghana. The number should be limited because having close to 40 banks for a population of 26 million is obviously a lot. What needs to be done is to build the capacity of existing banks to “branch out” to clients. This can be done in two ways: by expanding physical infrastructure to get closer to customers and by expanding digital (online/mobile banking) infrastructure. Already existing banks should be interested in improving service experience, bringing people closer, expanding digital means of banking and improving banking security.

To be clear, however, I am in no way against the registration of banks, in fact, my position is the opposite as I do not forget the importance of financial services to individuals and the economy as a whole. My position will be the opposite. It is clear that my position is that instead of registering new banks, some of which operate several branches without superior services or infrastructure, it would be better if the existing banks use resources to improve their capabilities.

Finally, some of these financial institutions will have to consider merging if there is any possibility of remaining profitable in business and serving customers in accordance with standards as the sector begins to become more competitive in the coming years, especially now that the minimum capital requirement has been increased from by the Central Bank to 400 million Ghana cedis for banks, which will take effect from December 2018.