The Future of Blockchain Technology in the Insurance Industry – Blockchainerz

What is insurance?

Insurance is a way of protection against loss of money. It is a type of risk management, which is mainly used to support against the risk of an unexpected accident.

The insured can report the accident or compensation to the broker and submit it with the necessary information to the insurance experts, that is, to the insurer, if applicable, to the reinsurer. Accommodation for the request is confirmed by a receipt to the insured.

From that point on, the Claims Agent may request additional data for the claim, through an external source. After this step, if each of the conditions are met, the claim is confirmed and the installment starts through the Insurer’s Claims Agent. Insurance is exposed in various fraud schemes. From sharing an insurance plan after a divorce to hiding medical diagnoses. So how does blockchain help in this field?

The future of Blockchain technology is considered the biggest picture of the fourth industrial revolution and a potential disruption for some organizations and companies, including the insurance industry. Even though the technology is still in its early stages, it has just shown what it can do: simplify printed materials, increase information security, and reduce organizational costs by eliminating tedious case forms.

Recap on Blockchain Technology:

  • Blockchain is an extensive, decentralized advanced ledger that is reliably updated and keeps track of a significant number of exchanges that have taken place. Blockchain systems are meant to record anything from physical resources to electronic money and are openly available for all involved parties to see.

  • After the verification process, the transaction block is timestamped and added to the blockchain network in a flat sequential request. The additional block is then linked to the previous blocks, forming a chain of blocks with data on every transaction ever made in the history of that blockchain.

How Blockchain Technology Can Benefit the Insurance Industry:

Blockchain was introduced to most through Bitcoin, however, its applications go beyond simply recording electronic cash. It can also empower inventive and disruptive change in industries other than finance, for example, the insurance business model. In addition to recording electronic cash and financial transactions, this technology can become part of the insurance, health care project.

  • The insurance company generally consistently manages various procedures that include the signing of the insurance contract. Processes can be anything from obtaining an insurance policy, evaluating a client, claiming or managing a fraud policy.

  • Since blockchain technology deals with smart contracts, insurance industry experts claim that this technology can change the way insurers deal with customers. The insurance industry depends on a lot of data like many other industries, blockchain could eventually power all or most of the data related transactions for this industry through smart contracts.

  • In doing so, the smart contract can trigger, execute and enforce the negotiation or enforcement of insurance contracts through blockchain technology. Insurance contracts are unpredictable and difficult to understand, so a smart contract can empower productivity in the insurance compliance chain wherever time, effort or money is spent on confirming information before preparing transactions.


Key Points of Blockchain Impacting the Insurance Industry:

1. Improve trust:

There is an urgent case for confidence in the financial services industry. Despite the fact that the big banks are the focal point, the breakdown of trust affects all businesses. Lack of trust, high costs and inefficiency of the insurance business play a role in the extremely high level of underinsurance. Blockchain technology encourages building customer trust as it provides clarity and transparency.

2. Increase efficiency:

As you change insurance agencies or health care providers, know how wasteful the process is for the information section to secure coverage or begin care. Moreover, customers have an undeniable fear of losing control over their own information. Blockchain provides an answer for the efficiency and security of a drive that would allow an individual to control individual information as the confirmation is written onto the blockchain.

3. Improved processing of requests through smart contracts:

For now, the insured and the insurer have problems that blockchain and smart contracts could solve. Insureds usually find that insurance contracts are long and mystifying, while insurance agencies struggle with a variety of frauds that are out of the ordinary. Through blockchain and smart contracts, both would benefit by monitoring claims in an appropriate and transparent manner. And it starts with recording and confirming contracts on the blockchain. At the time a claim is made, the blockchain can guarantee that only significant or valid individual cases are paid. But when the network determines that multiple cases of claims have been filed from the same accident, then the blockchain could trigger the payment of claims without human intervention, thereby improving the speed of claims settlement.

4. Detection and prevention of fraud:

One of the most compelling reasons why insurance agencies should explore blockchain is its ability to detect and prevent fraudulent or illegal activity. An expected 5 to 10 percent of all cases are fraud. Blockchain technology’s decentralized store and its historical record that can autonomously authenticate clients, rules and transactions. Every insurance agency today needs to take a step to understand how blockchain innovation can impact the way they work together today and beyond.

This is how blockchain technology will help or participate in the insurance industry in the future. In case you need to refresh the concepts or want to read the latest news related to Blockchain & Cryptocurrency Technology at that point stay connected with us.

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What is the meaning of Blockchain?

Blockchain is a unique invention: the brainchild of a person or group of people known as Satoshi Nakamoto. But it has since evolved into something more significant, and the central question everyone is asking is: What is Blockchain?

By allowing digital data to be distributed but not copied, blockchain technology has created the backbone of a new kind of internet. Originally designed for digital currency, the community technology Bitcoin (Buy Bitcoin) is now finding other potential benefits of the technology.

Bitcoin is called “digital gold” and for good reason. So far, the total value of the currency is close to 9 billion US dollars. And blockchains can create other types of numerical values. Like the Internet (or your car), you don’t need to know how the blocker is using it. However, a basic knowledge of this new technology shows why it is considered revolutionary.

Blockchain Durability and robustness

Blockchain technology is like the Internet because it has built-in robustness. By storing identical blocks of information on your network, a blockchain cannot:

1. It has no single point of failure.

2. To be controlled by any single entity.

Bitcoin was invented in 2008. Since then, the Bitcoin blockchain has been running without significant disruptions. (Until now, all the problems associated with Bitcoin have been caused by hacking or mismanagement, in other words, these problems stem from evil intentions and human error, not from imperfections in the underlying concepts).

The Internet itself is almost 30 years old. This is a record that bodes well for blockchain technology as it is still developing.

Who will use the blockchain?

As a web infrastructure, you don’t need to know blockchain to be useful in your life.

Currently, finance offers the most impactful use cases for the technology. For example, international payments. The World Bank estimates that more than $430 billion in remittances were sent in 2015. And for now there is a high demand for development engineers.

Blockchain potentially cuts out middlemen for this type of transaction. Personal computing became more accessible to the general public with the advent of the graphical user interface (GUI), which shaped the “desktop”. Also, the most common GUIs designed for Blockchain are called like this. Wallet apps that people use to buy things with Bitcoin and store it in other cryptocurrencies.

Online transactions are closely related to identity verification processes. It’s easy to imagine application portability changing in the coming years to include other types of identity management.

The Most Dangerous Threat to Your Staff and Business Survival

Being involved with technology solutions professionals see things that could be a real threat to you, your staff or even your business; while the internet can be seen as a wonderful tool (cloud based communications and solutions for example) and all of the other great achievements that the internet has created there is a far darker side to it all; of that there is no doubt and it can be a real threat.

And factually you have in your business nowhere to run or nowhere to hide; sooner or later it becomes a high odd’s bet that employee, you or your company will suffer and in severe cases the effects could even close your company overnight.

Don’t believe this? Read on where examples of actual major threats are shown below. Not worried? You should be!

It’s so dangerous that Deloitte opened a cyber threat hunting service!

But on an everyday level to ordinary SME’s just like your business there really is no amount of anti virus this or anti malware that available that is really going to help; the examples below show you exactly why; things these days have moved on exponentially to levels that you may not believe, but some are revealed that are actual examples highlighting just how bad these threats have become. There will be casualties no doubt but you don’t want to be one of them!

Email has been a driving force that has moved forward communications between every aspect of business that anyone could imagine, from sales, customers, support, management, publicity and many more important areas; but it’s obvious that the underlying technology of email servers are flawed and because it’s now a worldwide transport for communications that’s hard to fix; these communications channels have to be compatible with every other email server in the world and that creates massive inherent vulnerabilities.

In almost every town, city or country, government bodies are working towards combating fraud and other nasty things from many areas, but email is one of the most widely abused platforms there is because of the ease of abuse by non-experts. And if you’re not an expert it does not take long to learn how to be one!

One organisation in the UK is Action Fraud operated by the police and while they handle other areas of fraud, email scams are very high on their list.

But here’s where things start to get nasty. Since the advent of cryptocurrency worldwide fraud has increased exponentially. And in the USA SEC Rejects Bitcoin Exchange Traded Fund because they are very concerned about investor losses in Bitcoin.

However, this article is specific; Bitcoin is being used fraudulently and in both of the cases shown below Bitcoin is clearly involved in the transportation of monies to the perpetrators of these illegal demands on you, your staff or even your business. It’s no joke and anyone ignoring these really bad potential harms to their organisation will sooner or later come unstuck in maybe a really big way. The results could be catostrophic.

The first example shown below included personal details of the recipient that have been removed for security reasons. But this email (that passed every check through a company’s infrastructure) is threatening the life of an employee and should never be ignored.

Note that bitcoin and email addresses are edited for security purposes throughout this article.


“From: kristin*********

Sent: ******

To: *********

Subject: How to save themself

Read this warn carefully, since it can be the last in your life.

People are by nature envious. Given the fact of successful development of your business, people (your contestant ) paid me 30,000 Pound Sterling for your head on a stick.

It’s not the first time I’ve done this kind of work, but I’m already tired of these envious bastards and your life will be the last one I’ll take or will not do, it’s up to you.

Under normal circumstances, I would just do the work for which I was paid without going into the details, but I’m going to get away from it and go on a long-awaited vacation.

You have 2 versions for deciding this problem.

Adopt my proposal or refuse.

You pay me 5 thousand GBP for safe your life and you receive all the information about the customer with whom you apply to the police and thus you save your life and the lives of your relatives.

The second option is you ignore my proposal and turn to the police, but by the same token you will only postpone your judgment day, even if I can not do the work, then somebody else will do it, not within a week and say in a month or half a year, but order for your head will be fulfilled sooner or later.

Thus, you will be afraid of every rustle, walk around looking and thinking that you are being persecuted.

If you want such a life, your choice, but if I were you, I would think very well.

Tickets to England have been taken for July **, and you have exactly 3 days to transfer money to an anonymous account bitcoin 1QJNjRmon3iD3RwdjaGomFLHs25B******.

I can check the last time receipt of money before the flight to you, on the **th

In the event of receiving a reward, I will not come to take your life, but will also pass all the information about your customer (Let the bastards get what they deserve) and you can protect yourself, otherwise you know the consequences.

The well-being of the future life depends on your choice.

Think about your life, you family.

on all will of Allah”


The above email is unedited except for recipients details and Bitcoin account numbers. It can be clearly seen in this email that there is a threat on the life of the recipient. While some recipients would simply brush this type of email off, others become extremely concerned; it’s easy to see exactly why. Indeed some recipients will go and pay the demanded money and not think twice. Imagine that a key employee received this email and they completely believed its contents? The resultant downfall of the employee could be extreme. This email threatens the recipients life and mentions their family etc.

Notice that the spelling is incorrect for English on this example (undisclosed but its in the content) and somehow the writer suggests that the email is the ‘will of Allah’. Probably not. But the user identified the recipient was in ‘England’ likely from the email address so the recipient could believe some of the contents.

The above email passed numerous checks throughout the receiving companies infrastructure. Now it’s easy to see if you are tech savvy, but most email users are not. And if you’re a small SME then things could happen that could literally create very serious effects on your business even though the email targeted an employee. But if you’re not tech savvy and a company owner, would you believe the above? and send money? Many will have and that ‘feeds’ the criminals for millions of pounds or in this case $US.

Bitcoin in the above example is used because Bitcoin CANNOT be traced to the ultimate recipient of the payment. This is a major flaw in crypto currency and one reason (irrespective of some suggesting it’s an easy way to make money) you really should have nothing to do with it. Criminals use Bitcoin all the time.

As suggested, you just might not believe the above email if you received it, but there is no doubt that you might well believe the next example because it has information in it that is only known by you!


From: “Gloriana Feany”

To: *********************

Date: *********


I know ****** is your password. Lets get right to the purpose. You may not know me and you are most likely thinking why you are getting this email? Nobody has paid me to check you.

actually, I actually setup a malware on the X videos (porn material) web site and you know what, you visited this site to have fun (you know what I mean). While you were viewing videos, your web browser initiated operating as a RDP that has a key logger which gave me access to your display and webcam. Immediately after that, my software program gathered every one of your contacts from your Messenger, social networks, and emailaccount. And then I created a video. First part displays the video you were watching (you’ve got a fine taste hehe), and 2nd part displays the recording of your web camera, yea it is u.

There are two different possibilities. Let us take a look at each one of these options in details:

1st alternative is to skip this message. In this case, I most certainly will send your very own video clip to all your your contacts and visualize concerning the humiliation you will see. Moreover if you happen to be in a committed relationship, how it will affect?

Next choice should be to give me $3000. We are going to call it a donation. In this scenario, I most certainly will quickly remove your videotape. You will continue your way of life like this never took place and you will never hear back again from me.

You will make the payment through Bitcoin (if you do not know this, search for “how to buy bitcoin” in Google search engine).

BTC Address: 18PvdmxemjDkNxHF3p3Fu9wkaAZ********

[CASE sensitive, copy & paste it]

In case you are thinking about going to the law enforcement officials, very well, this e-mail can not be traced back to me. I have covered my actions. I am also not trying to charge you a lot, I simply want to be rewarded. I’ve a unique pixel in this e-mail, and at this moment I know that you have read through this email message. You have one day in order to pay. If I don’t get the BitCoins, I will certainly send your video to all of your contacts including family members, colleagues, etc. Having said that, if I receive the payment, I’ll erase the recording right away. If you really want evidence, reply Yup! then I will send out your video to your 7 friends. This is the non-negotiable offer, and thus please do not waste my personal time & yours by responding to this e mail.


This is an entirely different threat. The recipient picked this email up because of a multitude of reasons that were simply incorrect and not representative of their actions on the internet; however, the stated password was about 80% shown (and it would be reasonable to assume the perpetrator knew the rest of the password). This could be seen by many as a factual document and it’s credibility is created in the recipients mind by the inclusion of the password in to the threat.

Imagine owning a SME business that might indeed be a larger business, the threat demanded much more money and the recipient had viewed what was suggested in the email? People do. It could be seen as likely or at;east a possibility that the recipient might well pay the money to the perpetrator through Bitcoin. And again Bitcoin rears its ugly head.

Again in this second email instance shown the email passed all checks and tests in the company where the email was received. So these are real threats to individuals or business.

But consider this; how did the perpetrator get the recipients password? (it was an old password but nevertheless was mostly valid). The perpetrator suggested key logging on a site known for pornographic video and images. But that is most likely not where the perp got the details from.

When reading about companies like Facebook, TalkTalk, Dixons Carphone Warehouse, Equifax, Adobe, AOL, Apple, AT&T, British Airways, Mastercard and Visa, Compass Bank, Dominos Pizza, DVLA UK, Dropbox, Kmart, Hewlett Packard, eBay, Experian, Trump Hotels, Gmail, Vodaphone, Walmart, Morgan Stanley, NHS, Ofcom, SnapChat, Adidas, Macys, Sony Pictures (and the list goes on) is it really no wonder that most personal details of importance (even financially) of individuals and businesses are all over the internet. There is a Wikipedia about these breaches of data that is extremely concerning reading as these breaches involve all kinds of information that will no doubt be available to buy on the internet. With the incredible reductions in share prices at Facebook maybe that might be the start of a mass exodus from those sort of ‘social media’ sites; but of course Facebook is merely one of the very long list of companies that have let you down through not protecting your data properly as the list above clearly demonstrates.

Its easy to see why GDPR has become law and countries will continue to pass GDPR legislation accordingly. Thank all of the companies mentioned above and many more for allowing this ridiculous situation that could be the start of the downfall of the internet as it is known today.

But is it time to go back and retrospectively fine each and every company involved in the dispersal of personal details? Are those companies any less ‘guilty’ now? It seems for many companies that the only thing they understand is when they are faced with very large fines; and even the fines might be irrelevant to organisations like Facebook and Google because large fines seem to be ‘petty cash’ to some of those companies. But shere price reduction wakes them up.

If anyone is concerned about a ‘key logger’ from the above email example getting your information Kaspersky latest offering of internet security includes software that stops key loggers from logging your information as you type.

A third example of fraud covered in this article relates to a company that received an email pro-forma invoice to pay from one of its regular suppliers. One day the finance department received a pro-forma invoice that needed to be paid immediately. The email address and the invoice itself looked entirely unremarkable. The sending company advised the finance department that they had recently changed banks and that the new details were on the invoice attached. Finance paid the £60,000+ ( $US 80,000) invoice.

The only problem was, that the invoice was completely fraudulent, the email address did read correctly unless you looked close (instead of it was (just made up example to illustrate the methodology used) and the recipient in the finance department saw and read what they were used to seeing. The real question is, how did the perpetrators get all that information about what an invoice should be like, the real suppliers details, etc., their website and email addresses and more; it’s food for thought and make no mistake it can be so easy to allow one of these scams through your business; the chances are pretty high and the consequences could be dire and even bankrupt your business if taken to the extreme.

There is no doubt that the underlying email systems are no longer fit for purpose in general and have not been for some time. Notice that in the first example the scammer sent mail from ‘’ and the second one (even more concerning) was from ‘’. While the sending email addresses can be ‘replaced’ with any email address upon examination those two shown emails seemed to be real; indeed one of the perps even used Google to advise how to use Bitcoin for payment. But there are multiples of very large companies that every day offer a service but allow their email servers and systems to send out such threatening emails to users. Maybe it’s time to pressure these organisations (, and there are multiples of others) to actually filter their emails properly as well as the sendersbefore these sort of threats go out and create serious harm that these sort of messages could easily do.

Of course there are millions of other examples of fraud through an outdated abused email system (and other related internet technologies) that could be shown here, but the aim of this article is to educate readers so that they don’t fall foul to these sort of appalling scams.

One company, Network Systems has seen many of these sort of internet related issues and offers a cybercrime service to SME’s to help to create a safe environment for empolyees and business as they work on the internet today.

Hopefully this article will at least make the reader think very hard about how they are going to ensure protection of employees and their company and if nothing else that is a wothwhile objective. Using specialist companies will always help more than by just trying to put solutions in place created by someone without experience in this area and could actually save your company.

Blockchain for IoT in Business

A new horizon in the data sharing framework

Blockchain is a shared distributed database for peer-to-peer transactions. The core of this technology is bitcoin – a digitally encrypted wallet for controlling transactions and payment system that was introduced in 2009. This transaction management system is decentralized and generally works without any intermediary. These transactions are confirmed by a set of network nodes and documented in a shared ledger known as the blockchain.

The Internet of Things (IoT) is a cyber-physical network of interconnected computing devices, digital objects, and individuals with unique system IDs. The goal of the IoT space is to serve a single point of integration and transfer data online without the need for human or computer interference.

There is an intricate relationship between blockchain and IoT. Businesses providing IoT can find solutions using blockchain technology. A shared system can develop and record a cryptographically protected data set. Such database and records are protected from alteration and theft, provided they are highly protected and protected from malware. The duo can build transparency and accountability while moderating business development mechanisms. Blockchain itself can help reduce workplace mismanagement, overhead, and business unpredictability through its interconnected servers. A digital ledger can develop a cost-effective business and management system where everything can be efficiently exchanged, properly tracked and tracked. This process eliminates the need for a central management system, which essentially eliminates many bureaucratic red tapes and simplifies business processes. The commercial adoption of this innovation offers an immersive platform in the IoT domain and within business enterprises.

Blockchain essentially empowers interconnected IoT devices to participate in secure data exchange. Companies and business entities can use blockchain to manage and process data from edge devices, such as RFID (radio frequency identification) based means, machine readable barcode and QR code, infrared bluster (IR Bluster) or device information . If integrated into a business setup, IoT edge devices will be able to transmit blockchain-based records to update contracts or validate a communication network. For example, if an IoT-enabled and RFID-tagged asset with sensitive geographic location and confidential information is moved to another untagged point, the information will be automatically stored and updated in the blockchain ledger and necessary actions will be taken if the system is assigned. As the product progresses to different locations, the system allows interested parties to get the status of where the package is.

To enjoy the fruits of a blockchain-enabled IoT framework, business organizations must have four basic principles in place:

1. Expenses Reduction

Edge devices must reduce the processing time of operations and eliminate IoT gateways or internet intermediaries within the system. Because data is shared and information is transferred within the system, eliminating an additional protocol, program, hardware, channel, node, or communication reduces overhead.

2. Acceleration of data exchange

Blockchain-enabled IoT can eliminate the IoT gateway or any filtering device needed to establish a network between the cloud, administrators, sensors, and devices. Cutting out such a ‘middle man’ can enable peer-to-peer contracts and data sharing. In this process, the digital ledger eliminates the additional time required to synchronize devices and process and collect information. However, eliminating the IoT gateway provides channels for malicious malware and security breaches. A blockchain-enabled IoT network can handle this by installing features such as malware detection and encryption engines.

3. Trust Building

Through the blockchain-enabled IoT space, devices and appliances can virtually and physically transact and communicate as trusted parties. Unlike conventional business where transactions require approval and verification, blockchain does not need any central authentication or peer recommendation. As long as the network is secured and the trusted parties are technologically savvy, the IoT space requires no additional documents. For example, Team A may not know Team B, may not have physically met or trusted, but a stamped record of online transactions and information exchange within the blockchain ledger confirms business trustworthiness. This enables individuals, organizations, and devices to gain mutual trust that is vital to establishing a revolving business setup and eliminating administrative clutter.

4. Strengthening security for IoT

Blockchain provides space for a decentralized network and technology that promises to store, handle and retrieve information from its billions of connected devices. This system must provide a well-secured network that is both encrypted and easy to use. A decentralized network must provide high throughput, permission, low latency and queries. Installing blockchain in an IoT network can regulate and moderate the exchange of data across edge devices while maintaining the same secure transaction and information exchange of connected devices.

Eliminating points of failure in the IoT space

Blockchain-enabled IoT can upgrade the supply chain network by tracking tagged items as they move along different points in an import store or warehouse, while allowing safe and accurate product delivery. Blockchain installation provides precise and detailed product confirmation and solid traceability of relevant data along supply chains. Instead of finding paper trails to identify the country of origin (COO), the IoT can confirm the physical confirmation of each product through a virtual ‘visa’ that provides relevant information such as the product’s authenticity and origin. Blockchain can also create auditable product records and help organizations trace or produce a history of records. It can also provide secure access to network data for administrative records or alternative plans.

Blockchain-enabled IoT isn’t limited to enterprise bugs or use cases. Any business entity with an IoT space can increase business productivity by marginalizing costs, eliminating bottlenecks, additional cycles and single points of failure in the system by actualizing process innovation. It is in the interest of such organizations to understand, adopt and implement blockchain into their business solutions.

More to come…

Driven by the fourth industrial revolution (4IR), IoT-enabled blockchain is now the most dominant innovation after the integration of transistors and computing systems. It is a disruption that welcomes the ‘second machine age’ in terms of digitization and advanced artificial intelligence (AI). Business-facing organizations are at the forefront of enjoying the fruits of this revolution. It will be unfortunate if these organizations fail to realize the business potential of this mega integration that can bring intelligence to systems anywhere and everywhere. In addition to the new integration, this system also monitors the critical adaptability issues concerning the distributed network such as the preservation of privacy and network data, the coordination of security apparatus and the management of intellectual property. While many technology builders are building an open source foundation to address these issues, organizations and businesses should embrace and expand this technology for greater mobility and improved integration of products and services.

Online Stock Trading App: Top 4 Apps for Different Types of Investors

Since you can literally do anything and everything with your phone or tablet these days, it’s not surprising that you can also invest and trade stocks using apps. Why spend a fortune paying a broker to execute a trade for you when you can do it yourself? Even if you are not very experienced or knowledgeable, the best online stock trading app platforms come with tips and resources to help you better educate yourself.

You only need one or two good apps for all your investments. It also depends on your experience level and trading style.

Here’s a quick overview of some of the more popular trading apps:

Robin Hood

This one was launched even before the Robinhood website. It’s free to get started, although you won’t get access to the full range of investments. Added recent support for Bitcoin. The application interface is intuitive, and the information you need to make decisions is easy to access and understand. Robinhood uses only the best security and privacy measures to protect investors’ personal information and assets.


This is a great choice for beginners. Students can take advantage of the free management feature and select merchants can even get some “cash back”. There are no free surprises and you can make small trades for only $1 – $3 dollars.

Acorns is not for everyone, especially more active, versatile traders who want a larger portfolio.


The good thing about Stash is that it’s not just an online stock trading app – it’s also an educational app designed to help you learn as you go. It allows users to start investing with as little as $5 and offers advice on which stocks might be right for you as you go. Investments go into individual stocks / EFTs, which are used in different themes, such as “environmental” or “innovation”.

Handy Trader

This tool was created by Interactive Brokers and is available to members of Zacks Trade. If you are not familiar with Zack’s Trade, it is a great platform for active traders and those interested in foreign markets. There are a number of investment options to choose from, including options, EFTs, bonds, mutual funds, etc. To help you make decisions, Handy Trader supports real-time charts and market data, and allows you to place orders instantly or using an order ticket.

Apart from offering the best application for online stock trading, Zacks Trade and Interactive Brokers offer a web platform for those who prefer to trade on PC.

Meet the top five industries unlocking new value from Blockchain

Blockchain is radically transforming industries, improving customer experience and revolutionizing trust across businesses. The popularity of Bitcoin and other virtual currencies already proves the usefulness of blockchain in the financial and banking industries, but this distributed ledger technology does not stop there. Let’s break down the top five industries where Blockchain will make a splash.

  1. Banking, finance and insurance

Blockchain introduces enhanced security and information sharing to the banking industry which always needs the roof of a digitized and secure environment to serve as critical repositories and value transfer hubs. Indeed, Blockchain justifies its promising role in the financial services economy in various ways. Many banks have also ventured into this new technology, including Swiss bank UBS and UK-based Barclays.

  1. Retail and consumer goods

Blockchain products in the retail and e-commerce industry act as both a barrier-breaker and a catalyst for increasing the visibility of consumer products. Using a distributed and trusted database, blockchain solutions reduce business-disrupting barriers such as time-consuming settlement processes and provide greater transparency through a shared, immutable ledger that enables businesses to establish concrete trust in areas such as invoicing and payments, supply chain, and global delivery.

  1. Healthcare

This disruptive technology increases the security, privacy and interoperability of healthcare data while keeping the patient-centric ecosystem in focus. This technology goes to the edges to provide a new model for health information exchange (HIE) making EMR electronic medical records more efficient, immediate and secure.

  1. Civil services

Blockchain’s many robust functionalities have caught the eye of governments around the world. Potential use cases where the government envisions using this hyperledger technology are healthcare, taxation and internal revenue surveillance, national identity management systems, secure banking services, and electronic voting systems.

  1. Supply chain management

In the SCM industry, transactions can be documented in a permanent decentralized record and can be monitored more securely while maintaining end-to-end transparency, thus helping to reduce time delays and human errors. It can also be used to verify the authenticity and trade status of products by tracking them from their shipping points.

In addition, hyperledger technology is used by the networking industry, peer-to-peer ride-sharing applications, cloud storage, the entertainment industry, messaging applications, real estate, critical infrastructure security, crowd funding, and more. But the five sectors discussed above top the list.

Believing that decentralized cryptocurrency can solve the world’s worst problems, every industry should welcome blockchain technology into their business and begin transformations and future advancements. Hire a reliable blockchain app development company and start creating more value for your organization.

Recovering from Ransomware

Ransomware is a malicious computer virus that locks your system and demands a ransom to unlock your files. There are essentially two different types. First PC-Locker which locks the whole machine and Data-Locker which encrypts certain data but allows the machine to work. The main goal is to extract money from the user, which is usually paid in cryptocurrency such as bitcoin.

Identification and decryption

First, you’ll need to know the last name of the ransomware that infected you. This is easier than it seems. Simply search for malwarehunterteam and pass the ransom note. It will reveal the last name and often guide you through the decryption. Once you have the family name, which matches the note, the files can be decrypted using Teslacrypt 4.0. First you need to set the encryption key. Selecting the extension appended to the encrypted files will allow the tool to automatically set the master key. If in doubt, simply choose .

Data Recovery

If this fails, you will have to try to recover the data yourself. The system can often be too damaged to restore much. Success will depend on a number of variables such as operating system, partitioning, file overwrite priority, disk space handling, etc.). Recuva is probably one of the best tools available, but it’s best used on an external hard drive rather than installing it on your own OS drive. Once it’s installed, simply run a deep scan and hopefully the files you’re looking for will be returned.

New encryption ransomware targeting Linux systems

Known as the Linux.Encoder.1 malware, personal and business websites are attacked and a bitcoin payment of around $500 is demanded to decrypt the files.

A vulnerability in the Magento CMS was discovered by attackers who quickly took advantage of the situation. Although a patch for the critical vulnerability has now been released for Magento, it’s too late for those webmasters who woke up to find a message that included the chilling message:

“Your personal files are encrypted! Encryption is produced using a unique public key… to decrypt files you need to get a private key… you need to pay 1 bitcoin (~420 USD)”

It is also believed that other content management systems may have been attacked, so the number affected is currently unknown.

How Malware Hits

The malware goes through execution with administrator levels. All home directories as well as associated website files are affected as the damage is done using 128-bit AES crypto currency. This alone would be enough to cause a lot of damage, but the malware goes further in that it then scans the entire directory structure and encrypts different files of different types. Any directory that it goes into and causes encryption damage, it drops a text file that is the first thing an administrator sees when they log in.

There are certain elements that malware looks for, which are:

  • Apache installations

  • Nginx installations

  • MySQL is installed in the target systems tree

The report also appears that log directories are not immune to attack, nor is the content of individual web pages. The last places it hits – and perhaps the most critical – include:

  • Windows executable files

  • Document files

  • Program libraries

  • Javascript

  • Active Server Pages (.asp) files

The end result is that the system is held to ransom, and businesses know that if they cannot decrypt the files themselves, then they must either give in and pay the claim or suffer serious business disruption for an unknown period of time.

Requests made

In each encrypted directory, malware attackers drop a text file called README_FOR_DECRYPT.txt. The payment request is made so that the only way for decryption to take place is through a hidden page through a gateway.

If the affected person or business decides to pay, the malware is programmed to begin decrypting all files and then begins to undo the damage. It seems to decrypt everything in the same order of encryption, and the parting is that it deletes all encrypted files as well as the ransom message itself.

Contact the specialists

This new ransomware will require the services of a data recovery specialist. Be sure to let them know about any steps you’ve taken to recover the data yourself. This can be important and will undoubtedly affect the success rate.

Enterprise Blockchain Solutions: What can they do for your business?

Despite the popular belief that blockchain technology is designed only for conducting cryptocurrency transactions and earning bitcoins, blockchain continues its entry into many areas of life: social networks, gaming, healthcare, real estate and others. The technology aims to improve work efficiency, reduce costs for businesses and improve user experience.

Blockchain can be explained as a digitized database and belongs to digital ledger technology (DLT), which does not imply a central data store or administrative functionality. Why is it an advantage for the company? Decentralization with transparency gives every single participant the ability to see all recorded data, ensure its security and monitor important information.

Here are the areas where blockchain has already entered and proved that this technology is worth relying on.

Supply chain management, for example, is a major but vulnerable part of many companies’ workflows. The parties involved in the process often do not interact directly with each other and still use paper-based methods of collecting and storing information. Blockchain offers the complete elimination of paperwork: the flow of documents becomes automated, digital certification is also applied. More importantly, any authorized member of the supply chain can trace the product from producer to consumer and prevent the distribution of counterfeits.

Several US retail giants faced with foodborne illness outbreaks and further food recalls have implemented blockchain technology into their food supply chains. Previously, the tracking of one product took at least 7 days, and these days the origin of the food can be identified in a few seconds.

So, blockchain solutions have made the revocation process faster, more efficient and cost-effective. Meanwhile, customers have also experienced the adoption of blockchain in their hypermarkets. In Walmart’s Chinese stores, for example, they can scan a QR code and get all the information about the product: from the farm’s location to the inspection certificate.

Healthcare is a field where blockchain-based solutions have established themselves as a highly secure and transparent way of keeping electronic health records (EHRs). Both physicians and patients are empowered to access and use records when needed. At the same time, blockchain solutions are powered by smart contracts that enable EHR data privacy protection. Health device data and clinical research are encrypted, insurance can also be performed and stored. Another use case is supply chain control of prescription drugs and equipment.

E-commerce increasingly requires blockchain technology. Again, the supply chain is a key aspect here: tracking goods and managing inventory are often challenging tasks, but blockchain helps businesses manage their inventory more efficiently. Consumers who entrust their money and data to e-commerce organizations are concerned about data security and transparency, but this problem can be solved with the development of blockchain. Even small changes in a transaction are obvious on the blockchain, and tracking who made a mistake is no longer a problem. It is also possible to make crypto payments.

The next area is actually related to cryptocurrency transactions. DeFi, short for decentralized finance, does not only involve the simple transfer of funds, but also refers to more complex financial use cases. The implementation of blockchain contributes to the exclusion of intermediaries and, consequently, reduces costs. All transactions are encrypted and immutable, multi-step authentication mechanisms make the system difficult for unauthorized members to access. Among the novelties is the possibility to turn to P2P lending and digital banking services.

Social media also has the potential to be impacted by blockchain. Despite its global popularity and ability to connect people around the world, social media remains vulnerable to account hacking, identity leaks, and copyright infringement. To address these issues, blockchain offers copyright protection, digital identity verification, and impartial licensing.

Real estate, eGovernment, gaming industries and many others have joined the wave of blockchain adoption. Once your business chooses to innovate, delegate the implementation of the technology to one of the business blockchain companies that will develop a future-proof business DLT for you. With blockchain, your business will change the rules of the game in your field.

What is Bitcoin and is it a good investment?

Bitcoin (BTC) is a new type of digital currency – with cryptographic keys – that is decentralized to a network of computers used by users and miners around the world and is not controlled by a single organization or government. It is the first digital cryptocurrency to gain public attention and is accepted by a growing number of merchants. Like other currencies, users can use the digital currency to purchase goods and services online, as well as in some brick-and-mortar stores that accept it as a form of payment. Currency traders can also trade bitcoins in bitcoin exchanges.

There are several major differences between Bitcoin and traditional currencies (eg the US dollar):

  1. Bitcoin has no centralized authority or clearing house (eg, government, central bank, MasterCard or Visa network). The peer-to-peer payment network is operated by users and miners worldwide. Currency is transferred anonymously directly between users over the Internet without going through a clearing house. This means transaction fees are much lower.
  2. Bitcoin is created through a process called “Bitcoin mining”. Miners around the world use mining software and computers to solve complex Bitcoin algorithms and to approve Bitcoin transactions. They are rewarded with transaction fees and new Bitcoins generated by solving Bitcoin algorithms.
  3. There is a limited amount of Bitcoins in circulation. According to Blockchain, there were about 12.1 million in circulation as of December 20, 2013. The difficulty of Bitcoin mining (for solving algorithms) gets harder as more Bitcoins are generated, and the maximum amount in circulation is capped at 21 million. The cap will not be reached until around 2140. This makes Bitcoins more valuable as more people use them.
  4. A public ledger called the ‘Blockchain’ records all Bitcoin transactions and shows the ownership of each Bitcoin owner. Anyone can access the public ledger to verify transactions. This makes the digital currency more transparent and predictable. More importantly, transparency prevents fraud and double spending of the same Bitcoins.
  5. Digital currency can be acquired through Bitcoin mining or Bitcoin exchange.
  6. Digital currency is accepted by a limited number of merchants on the web and at some retail stores.
  7. Bitcoin wallets (similar to PayPal accounts) are used to store Bitcoins, private keys and public addresses, as well as anonymously transfer Bitcoins between users.
  8. Bitcoins are not insured and are not protected by government agencies. Therefore, they cannot be recovered if the secret keys are stolen by a hacker or lost on a faulty hard drive, or due to the shutdown of a Bitcoin exchange. If the secret keys are lost, the associated bitcoins cannot be recovered and will be out of circulation. Visit this link for Bitcoin FAQ.

I believe Bitcoin will gain more public acceptance as users can remain anonymous while purchasing goods and services online, transaction fees are much lower than credit card payment networks; the public ledger is accessible to everyone, which can be used to prevent fraud; the supply of the currency is limited to 21 million, and the payment network is managed by users and miners instead of a central government.

However, I don’t think it’s a great investment vehicle because it’s extremely volatile and not very stable. For example, the price of Bitcoin rose from around $14 to a peak of $1,200 this year before falling to $632 per BTC at the time of writing.

Bitcoin has soared this year as investors speculated that the currency would gain wider acceptance and rise in value. The currency fell 50% in December as BTC China (China’s largest bitcoin operator) announced that it could no longer accept new deposits due to government regulations. And according to Bloomberg, China’s central bank has banned financial institutions and payment companies from handling bitcoin transactions.

Bitcoin is likely to gain more public acceptance over time, but its price is extremely volatile and highly sensitive to news — such as government regulations and restrictions — that could negatively impact the currency.

Therefore, I do not suggest investors to invest in Bitcoins unless purchased at a price of less than $10 per BTC as this would allow a much larger margin of safety.

Otherwise, I believe it is much better to invest in stocks that have strong fundamentals, as well as great business prospects and management teams because the underlying companies have intrinsic values ​​and are more predictable.

Disclosure: Victor Liang has no positions in Bitcoin and has no plans to change his position in the next 72 hours.

Hyperledger in the Blockchain world. How is it different from other solutions?

Surely everyone has heard the words Ethereum and Bitcoin. Being part of the blockchain world, they have gained worldwide attention through extensive media coverage. In general, blockchain technology has gained business interest due to its decentralized, immutable and transparent nature. Among other notable projects that have emerged in recent years is Hyperledger.

What is Hyperledger?

Hyperledger is an open source blockchain and related tools project hosted by the Linux Foundation. It was created in 2015 and aimed at advancing cross-industry blockchain technologies. Hyperledger does not support cryptocurrencies and is not a cryptocurrency network or a traditional blockchain system.

So what is Hyperledger for? The project aims to make it easier for developers and businesses to work on blockchain adoption. It provides the necessary standards and infrastructure for the development and implementation of blockchain solutions in various industries.

Hyperledger’s structure in depth

The Hyperledger project can be visualized as a house with open source development tools and libraries as the foundation, and modular frameworks just under the roof.

One of the widely used digital ledgers is called Hyperledger Fabric. It is a permissioned blockchain infrastructure that serves as a foundation for building applications or solutions with a modular architecture.

Hyperledger Besu is an Ethereum client designed for corporate use for public and private permissioned networks. The next Hyperledger Burrow framework runs on smart contracts and is a complete single-binary blockchain distribution that supports EVM and WASM.

Hyperledger Indy can work autonomously or even interoperate with other blockchains. Indy was developed specifically for decentralized identities. Another easy-to-use modular distributed platform is called Hyperledger Iroha. The framework features a role-based permission model and support for multiple signatures. Iroha is tailored for digital asset management systems and is used to manage identity and serialized data. As part of the Hyperledger system, there is also no cryptocurrency presence here.

The Hyperledger Sawtooth Digital Ledger offers a modular architecture where smart contracts can specify business rules for applications without needing to know the underlying system design. Sawtooth uses the Python programming language and simplifies the deployment and maintenance of the final software.

Hyperledger applications compared to other corporate solutions

Let’s look at the differences between traditional web portals and blockchain solutions. The former lack speed, security and traceability, while blockchain offers high transaction speed and enhanced security provided by smart contracts and encryption. As for Hyperledger dApps in particular, they stand out for their ability to process complex business processes within hours.

When it comes to permissionless blockchain solutions and permissioned Hyperledger applications, there are several major differences. Permissionless blockchain solutions imply zero regulation, allow anonymous cryptographic identities, and generally represent public systems on a shared ledger. Counterfeit tracking is code-based and transactions cannot be changed.

Hyperledger applications are both public and private systems where workflows are monitored by regulators. Participants in Hyperledger applications are real and identifiable, and transaction identities can be tracked.

Overall, Hyperledger guarantees tamper-proof data exchange and cryptographic validation of contractual terms and operations. The toolkit is rich in platforms and frameworks that can be chosen according to business specifications. Ultimately, implementing the solution will help consolidate databases, improve performance and scalability, minimize fraud risk, protect sensitive data, and streamline ROI.

Industries ready to adopt Hyperledger

Hyperledger has already entered multiple spheres, such as supply chain management, retail, healthcare, FinTech, IoT, banking and manufacturing. Companies using the technology include Walmart, Amazon, Nestle, Visa, Maersk, the Postal Savings Bank of China and others.

To start innovating your business through Hyperledger adoption, you need to choose a competent Hyperledger development company to design a custom solution to address your business challenges.