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Bitcoin And Blockchain For Business

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Many entrepreneurs find e-commerce and everyday business is easier with Blockchain and Bitcoin. Bitcoin and blockchain were created in 2009 by Satoshi Nakamoto, an alias, whose real identity remains a mystery.

Small businesses can benefit from:

  • Faster transactions as in same-day and sometimes even same-hour payments transferred into your company’s bank account.
  • Lower to no fees attached. Bitcoin transaction fees are usually between 1 percent and zero per transaction. You can send or accept bitcoin payments without any fees attached.
  • No conflicts over bitcoin payments since they are final and cannot be contested.
  • No international business hassles, as bitcoin isn’t associated with any one company, country or government.

Regarding business transactions, companies usually have to wait for payments to be transferred into their bank accounts. But with Blockchain the digital ledger transactions are recorded on, taking care of all of the transactions with no bank involved, bitcoin payments are speedier than credit card payments. Bitcoin was the first cryptocurrency, though several others are now available.

You can purchase bitcoins through your bank account and a bitcoin exchange, such as Coinbase. You can also buy bitcoins with Paypal or a
credit card at websites like Virwox. Some companies use bitcoin payroll services, while other businesses, such as Amazon, Starbucks, Microsoft, Dell and Overstock.com accept bitcoin payments.

  • In your business
  • Personal investments
  • Fundraising for your business

First, regarding investing in Bitcoin, the CEX 10 exchange has seen a surge of activity in November 2017. On November 28, Bitcoin hit $10,000 for the first time after a 1,000% increase in its worth this year. Bitcoin’s rise in value exceeded the predictions of several high-profile economists. If the trend continues, the cryptocurrency may reach $25,000 within the next 5 years.

In addition, the U.S. Commodity Futures Trading Commission recently approved bitcoin futures trading on three exchanges. CME, CFE, and the Cantor Exchange. So, individuals can now bet on the value of the cryptocurrency without investing in it directly.

Also, over 100 cryptocurrency-focused hedge funds have been created in 2017, which are acting as a conduit for large amounts of fiat money
being converted to bitcoin and other cryptocurrencies. Even traditional hedge funds and investment institutions are getting in on the action, to the extent that there are services that allow them to safely do so.

The recent fluctuations in bitcoin’s price are the result of a combination of several developments. In late October, CME Group, the world’s largest exchange owner, opened up to bitcoin trading. Additionally, a controversial bitcoin blockchain hard fork was suspended in early November, and Bitcoin Classic ended up shutting down in favor of Bitcoin Cash. However, I must caution, if you do invest in bitcoin, do not invest more than you can afford to lose. Most experts warn the market could turn at any time and bitcoin’s value could plummet, causing huge losses.

Secondly, many Start-up companies are using bitcoin to raise money and avoid the transparency needed in a stock market float. Consider Bitcoin if you want to start a digital-currency-related business but you don’t want to bother with venture capital. Right now, it’s remarkably easy to fund a startup that is related in any way to digital currency, thanks to ICOs (initial coin offerings). Essentially, ICOs are crowdfunding campaigns for anything bitcoin related, for example, if you decide to start a company and sell digital tokens in your company to anyone online.

Unlike equity crowdfunding or traditional IPOs, ICOs aren’t regulated by the SEC. And unlike traditional venture capital, entrepreneurs raising money through ICOs don’t have to give up any ownership of their startups to the people who buy their tokens, which is one reason they’re so popular. Since there’s no regulatory oversight, they’ve been used to raise funds for unusual projects such as a dental industry blockchain solution and offerings with names like TulipToken, BananaCoin, and Jesus Coin. ICOs have become a huge method of startup financing, though they are still controversial, and China has banned them.

Thirdly, if you have a startup in the financial or the related technological industry, blockchain can be faster and more reliable than the current systems banks and governments use to move money around the world. There are many people who are skeptical about cryptocurrency but do believe in blockchain.

IBM began processing payments over its own proprietary blockchain between banks in the South Pacific. The tech giant plans to include 13 banks in its network. IBM blockchain transmits money in the form of Lumens, a virtual currency created by the non-profit Stellar.

For the first time, Mastercard is offering the ability to send money over a blockchain rather than by swiping a credit card. After developing its own version of the bitcoin technology Mastercard is opening up its blockchain to specific banks and merchants as an alternative, and potentially more efficient, method of paying for goods and services. Mastercard is also targeting cross-border payments between businesses as the primary purpose for its blockchain, which can only be used by invitation. Mastercard’s blockchain operates independently of a cryptocurrency and instead accepts payments in traditional local money.

Mastercard has one advantage that the bitcoin blockchain doesn’t have, that is their settlement network that includes 22,000 banks and financial institutions around the world. Mastercard hopes to provide the benefits of blockchain technology, including a more secure and transparent way of making and tracking payments, within the existing financial system, without the hassle of digital currency. Businesses could cut costs by using the blockchain to send cross-border payments, which usually pass through several foreign banks on their way overseas, racking up fees along the way. Mastercard’s blockchain, however, could cut out those middlemen and connect a purchaser’s bank directly to that of the supplier, remitting the payment more efficiently. Although the transaction itself will register on blockchain instantaneously, the funds are still moving through the
same system Mastercard uses now.

Also, Visa partnered with the blockchain startup Chain to develop its own system for similar business-to-business payments.

Today blockchain is in an embryonic stage, but tomorrow it will be mainstream along with IoT (internet of things) and AI (artificial intelligence). Blockchain is paramount for the financial sector. So, CIOs need to improve their understanding of the impacts of cryptocurrency and Blockchain and the other big generational technologies that will revolutionize financial services.

By Myeshi Briley,MS,HS-BCP
President of Spring-Klein Chamber

December 5, 2017 |

HOW AI WILL CHANGE WORK

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By MyeshiBriley,MS,HS-BCP, Spring-Klein Chamber President Artificial Intelligence will transform our work and our world. Major changes have already taken place. Manufacturers rely more and more on AI technologies. Software and computers now handle numerous clerical task read more

June 15, 2017 |

THE BUSINESS OF AI

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By Myeshi Briley,MS,HS-BCP The latest keep calm slogan I saw was — “Keep Calm and Focus on Artificial Intelligence.” I definitely think all entrepreneurs and small business leaders need to focus on what AI is and what it can do for their enterprise. It’s 2016 and we nee read more

May 5, 2017 |

Millennials have a lot to offer & CEO’S/ Presidents Diverse in Business know it

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Millennials have a lot to offer & CEO’S/ Presidents Diverse in Business know it

By; Myeshi Briley,MS,HS-BCP

President Spring-Klein Chamber of Commerce

Millennials today make up most of the labor force (one in three American employees). Consequently, corporate leaders need to start today to develop the leaders of tomorrow are their companies won’t have much of a future. Most upper executives reached mid-management positions by their mid-thirties, which fast-tracked them to C-level roles later in their career. These same top leaders must in turn develop the talent of millennials, who possess the ability but not the experience. Engage senior leaders to align millennial talent with a shared cohesive vision and direction for your organization.

Millennials Want Mentoring

Millennials would rather be leaders than followers. They find the opportunity to learn from a mentor enticing. By teaming upper management with millennials in ‘reverse mentoring’ you offer the younger generation career path guidance directly from senior executives. They gain a precious peek into the world of top-level management. Plus the firm gets a chance to transfer corporate knowledge to their younger talent.

This generation is eager for training. Consider assigning projects to millennials that allow them to network. Another thing is cross-training on a quarterly basis. Invite professors or business coaches for presentations on various types of management or leadership fundamentals. This will help employees understand the company’s strategic course and its organizational issues.

In addition to career development, you need to tap into this generation’s strengths. For that, you must encompass the way millennials engage, grow and learn. You need to work with them and not discourage them. As the president of the Spring Klein Chamber of Commerce, I cater to young entrepreneurs in the area. Half of our board is made up of millennials. I encourage them to bring their ideas to the table.

Listening to millennials and taking their ideas seriously is the best way to motivate and retain them. Create activities and venues where they can voice their ideas and they’ll propose inspired solutions to issues. Brainstorming meetings allow them to get to know other employees and gain visibility. Give your millennial employees varied responsibilities, propose projects that include a learning component. This generation works harder when challenged.

Outdated, Rigid Work Styles Hold Them Back

The millennials’ enthusiasm will have a positive influence on your firm. Their connection with social media along with their adaptation to the latest technology is key to your organization’s future. This will prove vital to your company’s development as you look for new, innovative ideas. Keep in mind, they were raised in a digital world and communicate electronically…rather than face-to-face. Relying on mobile platforms: phones, tablets, laptops for work and projects…they collaborate in open gathering spaces and often work from home.

Personal time is important to them. Millennials pursue a balanced life and flexibility. With a focus on results not hours, they don’t have a clocking in and out work style…they might work from home or a coffee house. Set deadlines for them and if they complete their work to your standards, they are finished for the day.

Offer Rapid Progression

Career advancement traditionally depended on seniority, but millennials value results over tenure. Create a strategic plan that illustrates what their future looks like at your firm. Let high achievers, who have the potential to rise up the ranks quickly, do so. Otherwise they’ll get frustrated.

One reason millennials want to rush up the career ladder is compensation, because they begin work with an average debt of $20,000 in student loans. Also, they don’t think they’ll ever see a pension or social security check, so they expect they’ll have to create their own financial independence in retirement. Basically, this generation merely wants to get paid what they’re worth. If you can’t afford raises, offer them more vacation time and flexibility—a day off for a job well done goes a long way with millennials. They are also the most educated generation in history and they are continuous learners, so offering tuition reimbursement programs will increase retention rates.

A Stimulating Career

Millennials want to contribute something to the world and they have a passion for international settings. Most want at least one overseas assignment during their career. They also want to be proud of their employer’s corporate values. They want to work for a company that strives to improve its community. This generation looks for employers with good environmental and social records, and many will leave a company if they find the firm lacks values.

Frequent Feedback

Owning to social media, millennials like instant feedback. A yearly review isn’t enough for them. They require frequent, honest feedback in real time. They expect praise for a job well done. Regularly highlight their positive contributions.

Set well-defined targets for millennials and touch base with them often. A transparent management system, detailing how performance is rewarded gives them a feeling of value, and the motivation to work hard. Millennials prefer open communication, so have an open door policy and make yourself accessible. When employees offer constructive criticism, invite them to present a business solution and give it serious consideration.

The Latest Technology

Millennials assume the technology that empowers their personal lives will drive communication and innovation in the workplace. Update your IT plan and provide state of the art technology. However, this generation is more effective at work when they also have access to their own personal technical devices.

Diversity

The millennial workforce is composed of more minorities and women than any other generation. Consequently, they bring in fresh ideas and contrasting perspectives. Workplace diversity is important to millennials and it helps eliminate challenges stemming from gender and diversity gaps that currently effect many corporations.

Millennials are an asset as they are the future leaders. But their greatest resource is previous generations who went through the same things they are facing: a bad economy and a tightening job market. And the older generation can learn from the younger one as well. Both offer attributes that complement each other. This is important, as the baby boomers leaving the work force will be replaced by the millennials. So now is the time to prepare for that future. As a CEO I have been a huge leader in understanding the market and changing to help support future leaders. Loving change is one of my best qualities, when others hate change.

 

Resources:

http://www.miamiherald.com/news/business/biz-monday/article78789262.html#storylink=cpy

http://www.forbes.com/sites/ashleystahl/2015/06/04/managing-millennials-6-musts-for-ceos-who-want-to-get-ahead/#c79fc7f6997e

http://fortune.com/2015/03/01/the-perks-of-hiring-a-millennial/

http://www.forbes.com/sites/taitran/2016/02/21/a-millennial-response-to-an-open-letter-to-yelp-ceo-takeaways-for-millennials-and-companies/#3dbae339433a

http://www.miamiherald.com/news/business/biz-monday/article78789262.html#storylink=cpy

How One Gen X CEO Cultivates Her Millennials

July 1, 2016 |

Government Updates/News Congress Passes New ABLE ACT Dec 17th 2014

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This is new information below from Congress; It’s the ABLE ACT which is important for people with disabilities and  legal care takers of people with disabilities.

CONGRESS PASSES ABLE ACT: MAJOR VICTORY FOR PERSONS WITH DISABILITIES

For first time in nation’s history, federal government recognizes added costs associated to living with a disability 

 

In recognition of this unprecedented legislation, NDI has created a list of 10 items about ABLE accounts that individuals with disabilities and their families should know:

ABLE Accounts: 10 Things You Must Know

  1. What is an ABLE account?

ABLE Accounts, which are tax-advantaged savings accounts for individuals with disabilities and their families, will be created as a result of the passage of the ABLE Act of 2014. Income earned by the accounts would not be taxed. Contributions to the account made by any person (the account beneficiary, family and friends) would not be tax deductible.

  1. Why the need for ABLE accounts?

Millions of individuals with disabilities and their families depend on a wide variety of public benefits for income, health care and food and housing assistance. Eligibility for these public benefits (SSI, SNAP, Medicaid) require meeting a means or resource test that limits eligibility to individuals to report more than $2,000 in cash savings, retirement funds and other items of significant value. To remain eligible for these public benefits, an individual must remain poor. For the first time in public policy, the ABLE Act recognizes the extra and significant costs of living with a disability. These include costs, related to raising a child with significant disabilities or a working age adult with disabilities, for accessible housing and transportation, personal assistance services, assistive technology and health care not covered by insurance, Medicaid or Medicare.

 

For the first time, eligible individuals and families will be allowed to establish ABLE savings accounts that will not affect their eligibility for SSI, Medicaid and other public benefits. The legislation explains further that an ABLE account will, with private savings, “secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, benefits provided through private insurance, Medicaid, SSI, the beneficiary’s employment and other sources.”

 

http://www.realeconomicimpact.org/News.aspx?id=460

 

 

Congress Updates

Myeshi Briley,MS,HS-BCP

President of Spring-Klein Chamber of Commerce

January 31, 2015 |

Spring, TX 2015 Healthcare Options

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We now have options in Spring TX without going far from home. “It get’s better and better everyday to help enrich the Spring-Klein area”. The Houston Chronicle has an amazing story of the options right in our on backyard in Spring, TX. Live, Work, Play is my motto for the Spring-Klein area.  I would like to welcome Dr. Marc Boom, President and CEO of Houston Methodist to Spring-Klein Chamber of Commerce and Mika Roa, spokeswoman for Spring Central Hospital. Once again welcome to Spring-Klein Chamber of Commerce and thank you for your membership.

http://m.chron.com/neighborhood/spring/news/article/Growth-brings-more-medical-options-to-Spring-area-6014647.php

 

 

Myeshi Briley,MS,HS-BCP

President of Spring-Klein Chamber of Commerce

 

 

January 29, 2015 |

The New Live, Work, Play Area of 2015 Spring, TX

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I believe that Spring, TX has become the next new Live, Work, Play area. Community Impact Newspaper speaks about the Commercial Development booms that are happening in Spring, TX.  It goes into details on calling Spring, TX the Energy and Commerce area. Just to name a few of things happening;  Exxon Mobil campus, Springwoods Village, Southwestern Energy headquarters, Baker Hughes Western Hemisphere Education Center, Grand Parkway Town Center, Noble Energy Center Two, Restaurant Village, Cypress Preserve Park, Hardy North Business Park. I would like to Thank Patty, Matt and Valerie for Community Impact news on how it keeps us informed in the Spring-Klein area.

http://impactnews.com/houston-metro/spring–klein/commercial-development-booms-in-spring/

 

Myeshi Briley,MS,HS-BCP

President of Spring-Klein Chamber of Commerce

 

January 27, 2015 |
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