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Getting funding for their startups is not an easy feat for blockchain entrepreneurs.
Despite the rising prevalence of blockchain in today’s world, it still isn’t enough to push blockchain at the forefront of investment. More startup companies are turning to outside funding in order to gain the money they need to run their digital business.
Unfortunately for them, it's not that easy to ask investors to fund a blockchain startup. This is what blockchain investors look for in a startup before they decide to take the plunge.
Real innovation
Blockchain may be an innovation all in itself, but that isn't enough for investors who want real innovation from an individual company. Real innovation, in this case, can be defined as something new and unique that a company has managed to come up with using current or upcoming technology.
Blockchain is a technology that can potentially contribute to the modernization of our businesses and our economy. And it's involving very fast.Based on this statement, it would seem like investors are the ones not having enough projects to invest in.
If entrepreneurs can focus more on developing their blockchain-capable businesses more, they will be able to attract investors who are specifically looking for something new created out of blockchain technology.
Tech connectivity
Investors are not interested in using blockchain in isolation. They are interested in seeing how blockchain can be used in relation to other technology, such as artificial intelligence, for instance.Although both have remained as standalone technologies in the last decade, more and more academics have been trying to combine the two.
The convergence of blockchain and artificial intelligence could lead to several benefits in various sectors, including healthcare and finance, the two sectors that see the most identity fraud cases in recent years.
With blockchain and AI integrated together, companies in these sectors can create an encrypted method of storing sensitive data that can then be securely unlocked using the knowledge and sophistication of AI.
This is just one example of the way blockchain can be used to improve existing technology and even create an entirely new technology altogether.
Useful solutions
Investors are also interested in a startup that can suggest and develop useful blockchain solutions that even the mainstream public can accept and adapt.Many companies use the word blockchain as a buzzword in order to entice investors, which is why many investors tend to avoid those.
These investors prefer companies or projects building something with the core value that comes from a set of functions native to blockchain and cannot be attained in the absence of blockchain.
Valuable data
Another thing that investors look for in a startup is valuable data. Valuable data can lead to valuable discoveries, and at the same time, help create projections and forecasts for specific startup products. Like any serious investor, most investors prefer to invest in a product when it’s still fresh on the market, as long as its forecasts are positive.
One of the biggest problems with blockchain startups is that they try too hard to look for problems to solve, instead of solving problems that are already in front of them. Investors want someone with a clear vision for what they're building, a balanced skill set, and an ability to get things done.
Attentive Founders
Lastly, investors are attracted to startups with founders who are attentive to industry happenings and are quick to adapt their business based on current situations.
The reason for this is two-fold. One, staying updated on whatever's happening within the industry ensures investors that the founders themselves are interested in blockchain and are thus motivated to improve the sector.
Two, knowing how to adapt to remain sustainable and profitable is extremely vital in running a business in the digital realm.Just using the word blockchain in your business proposal is not enough to secure funding from investors. If you can integrate all these factors that affect the decision-making process of investors, you'll stand a better chance of getting your company funded.
Chris Porteous
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I'm a serial entrepreneur and owner of three internet ventures, including My SEO Sucks. A contributor to ZeroHedge, Entrepreneur.com, Forbes, Inc.com, and dozens of other media outlets, I believe in SEO as a product. I developed a proprietary technology fueling the #1 rankings of My SEO Sucks clients. In guest speaking ventures across North American, I advocate for organic search traffic as the backbone of any comprehensive digital marketing strategy.-
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Francisco Gimeno - BC Analyst We have witnessed many "blockchain solutions" since 2017. But real, active and profitable solutions? Very few. Those investing in 2017 anywhere have learnt the lesson. They want real use cases, real solutions, interconnected. They want profit and participate in the start of the 4th IR.- 10 1 vote
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The blockchain story is beginning a new chapter, one in which the questions executives are asking are tougher, more granular, more grounded, and more pragmatic.
The question for executives is no longer, "Will blockchain work?" but, "How can we make blockchain work for us?
" SINCE the first blockchain advocates began promoting the technology’s capabilities over a decade ago, leaders across industries have often seemed unsure what to do with it. But in 2019, something unmistakable appears to be happening.
What has emerged is a shared recognition that blockchain is real—and that it can serve as a pragmatic solution to business problems across industries and use cases. This is not some far-flung vision held by long-standing believers in the technology. Even leaders wary of tech-based solutions have come to see the larger, transformational importance of the technology.
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Though blockchain hasn’t reached its full potential, savvy executives surveyed for Deloitte’s 2019 global blockchain survey are confident about new and evolving use cases; they continue to see the technology as a connecting platform that can enable many business processes.
Since our last survey,1 respondents report that overall corporate blockchain investment is growing across most sectors as new, practical applications gain traction.
Like young college graduates quickly adjusting their expectations after entering the workforce, executives have seen time and practical considerations refine and define their view of what is possible in using blockchain into what is plausible—and what is practical.
What we’re seeing in 2019 is the continuing evolution of blockchain from a capable yet underdeveloped technology into a more refined and mature solution poised to deliver on its initial promise to disrupt.The question for executives is no longer, “Will blockchain work?” but, “How can we make blockchain work for us?”Overview and methodology statementDeloitte conducted this survey between February 8 and March 4, 2019, primarily as a research vehicle to gain greater insights into the overall attitudes and investments in blockchain as a technology. The release of the survey highlights in this article reflects those opinions and perceptions around blockchain and the potential impact of the technology in the future.
The information shared provides summaries of a subset of the overall data and insights collected.
The survey polled a sample of 1,386 senior executives in a dozen countries (Brazil, Canada, China, Germany, Hong Kong, Israel, Luxembourg, Singapore, Switzerland, United Arab Emirates, United Kingdom, and the United States) at companies with US$500 million or more in annual revenue for US respondents and at companies with US$100 million or more in annual revenue for respondents outside of the United States.
Respondents had at least a broad understanding of blockchain and were familiar with and able to comment on their organizations’ investment plans.
Between February 18 and March 8, 2019, we also administered the survey to executives at a group of 31 blockchain emerging disruptors to gauge their attitudes and investments in blockchain as a technology. All of these emerging disruptor respondents had revenue of less than US$50 million.Show more
2019 survey highlights
Last year’s survey showed blockchain adoption reaching a turning point: Momentum had begun shifting from “blockchain tourism” and exploration toward the building of practical business applications.
Financial services and, more specifically, the financial technology (fintech) sector were leading in blockchain development, while other industries were cautious in their search for use cases to provide a return on investment to justify the cost and effort of implementing blockchain solutions.
Today, fintech remains a blockchain leader, but more organizations in more sectors—such as technology, media, telecommunications, life sciences and health care, and government—are expanding and diversifying their blockchain initiatives. Still, despite these advances, progress remains measured in the wake of blockchain’s first cyclical rise and fall, and the resulting attitude shifts following the initial blockchain buzz.
On a positive note, this year’s survey reveals continued strong investment, with those willing to invest US$5 million or more in new blockchain initiatives over the next 12 months, holding steady at 40 percent (up a point from 2018). Simultaneously, 53 percent of respondents say that blockchain technology has become a critical priority for their organizations in 2019—a 10-point increase over last year (see figure 1).
Moreover, 83 percent see compelling use cases for blockchain, up from 74 percent (figure 2), and respondents’ overall attitudes toward blockchain have strengthened meaningfully.
Download the full 52 pdf report here:
https://www2.deloitte.com/content/dam/insights/us/articles/2019-global-blockchain-survey/DI_2019-global-blockchain-survey.pdf
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Francisco Gimeno - BC Analyst Deloitte shows the changes every year on the understanding and spread of the blockchain technology. Three years ago we personally witnessed a young Business professor tell us that he didn't know about blockchain and that he thought that he wouldn't even need to know. The College he was has introduced blockchain studies already. Businespeople are trying to understand how to make blockchain work for them. Governments and private companies try new platforms and applications based on it. Barred unforeseen circumstances, the blockchain is here to stay, develop and be pervasive through all economic and social sectors.
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Instagram Data Breach Reports Prove You Should Skip Facebook’s Crypto
Another day, another Facebook data leak affecting millions of dubious users. This time around, security researcher Anurag Sen discovered a public Amazon Web Services (AWS) database containing the contact information of more than 49 millionInstagram accounts, TechCrunch reports. For those out of the loop, Facebook is the monopolistic owner of Instagram and most other things social media.DETAILS OF THE INSTAGRAM DATA LEAK
The exposed database includes public information from Instagram accounts such as the number of followers, likes, and shares of a particular user. More concerning, though, is the inclusion of email addresses and phone numbers of numerous account owners – information that Instagram allegedly keeps private.
Chtrbox, a social media marketing firm, owns the database. As part of the data, the company calculated a net worth for each account using public information and presumably reached out with offers through the suspiciously obtained contact information.Facebook has had little to say on the matter, telling TechCrunch:“We’re looking into the issue to understand if the data described – including email and phone numbers – was from Instagram or from other sources.”
46 0 DAYS SINCE FACEBOOK’S LAST PRIVACY ACCIDENT
This latest Instagram snafu further proves that Facebook either doesn’t care or doesn’t know how to secure user privacy. Just last month, security firm UpGaurd revealed that you could find hundreds of millions of private Facebook user records through public third-party databases on Amazon. Sound familiar?
In the past five years, Facebook has leaked the private information of its users on several different occasions. August 2017 saw hackers obtain and sell email addresses and phone numbers of around 6 million Instagram users. In September 2018, Facebook security vulnerabilities enabled malicious parties to gather the personal information of almost 50 million users. And, who could forget the ridiculous Cambridge Analytica debacle?
Throw in Facebook’s risky, plaintext storage of passwords, and you paint a picture that’s drastically different than the company’s new “privacy-focused” brand.YOU CAN’T TRUST FACEBOOK WITH ANYTHING, ESPECIALLY CRYPTOCURRENCY
Facebook’s crypto launch is right around the corner, but the recent data leak serves as a swift reminder to stay the hell away.Project Libra, the social media company’s secretive cryptocurrency project, has been in the works for more than a year. Initially, a payment system between Whatsapp users, the product has ballooned into a $1 billion conglomerate courting potential investments from payment processors like Visa and Mastercard.
But even big-name investments can’t help Facebook’s anti-privacy image. Since the Cambridge Analytica scandal, the company has seen a decline in job acceptance rates. Additionally, the social media platform’s user base is following a similar trend, losing 15 million users since 2017.
Facebook usage continues to fall due to constant privacy blunders. | Source: Edison Research
Now more than ever, people care about the secrecy of their online personas. Although Facebook is starting to talk the privacy talk, it’s clear that the company isn’t prepared to walk the privacy walk.
Facebook’s cryptocurrency is already taboo because the company is completely centralized and even the hint of another security breach isn’t helping Mark Zuckerberg’s case.-
Francisco Gimeno - BC Analyst We are not precisely defenders of FB here, but this article points could be said of many other private companies trying to launch a crypto. Hacking, hackers, backdoors, etc, are here to stay and try to get inside. The blockchain offers precisely a safer and more secure environment, as trust is at its core. The truth is that a future FB's crypto makes us unease due to FB's centralised business model, the opposite of a future digital tokenised 4th IR economy.
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The price of Bitcoin has rallied by more than 150% since the December lows, Alex DeGroote from DeGroote Consulting talks to IGTV’s Victoria Scholar about the outlook for bitcoin.
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Watch Yuval Noah Harari speak with Fei-Fei Li, renowned computer scientist and Co-Director of Stanford University's Human-Centered AI Institute -- in a conversation moderated by Nicholas Thompson, WIRED's Editor-in-Chief. The discussion explores big themes and ideas, including ethics in technology, hacking humans, free will, and how to avoid potential dystopian scenarios.
Publication is available under Creative Commons, CC BY-NC-ND 4.0 - https://creativecommons.org/licenses/....
The event was hosted at Stanford in April 2019, and was jointly sponsored by the university's Humanities Center, McCoy Family Center for Ethics in Society, and the Stanford Institute for Human-Centered Artificial Intelligence (HAI).-
Francisco Gimeno - BC Analyst We feel that lately all Harari conversations lack one ingredient: someone who really can get to his philosophical level on any topic. Fei-Fei Li speaks from his scientific worldframe but maybe misses that the AI upheaval is going to affect not just science and technology, but in a deeper side, the way society can become a dystopia in authoritarian societies with AI's aid. Harari is cautious more than pessimistic here. He is warning us to be prepared, and to the AI's engineers to think about what AI means not in 40 years time but for the very next future.
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Jobs and Talent: These are the top skill sets for a successful blockchain team |... (computerworld.com)As undergraduates emerge from schools with software development or business skills, companies exploring blockchain use are seeking job candidates with four specific skill sets, according to a new report from consultancy KPMG.
Those skills are needed more with each passing month; KPMG expects an increase in the number of companies exploring blockchain this year for everything from identifying new business models to piloting projects and ultimately, progressing to scalable solutions.
KPMG said, not surprisingly, that it's seeking graduates with a solid grasp of blockchain at a high level – those who understand distributed ledgers, peer-to-peer topologies and consensus mechanisms; all are key for a technologist hoping to land a high-paying blockchain developer job.The nexus of tech and business acumen
"The key thing we do at KPMG is balance an understanding of how this technology works without being a blockchain hammer looking for a nail," said Tegan Keele, KPMG's U.S. blockchain program lead. "You have to know how to apply it and that really only comes if you have an understanding of business processes.
"Secondly, members of a blockchain team should understand the difference between a variety of technologies, including the cloud, protocols, ERPs and networks, and know when to use different mechanisms and platforms.
"This will help ensure they can understand how blockchain interacts within an existing technology ecosystem, and how that ecosystem will impact the design of the blockchain solution," KPMG said.
"And for those who are planning to work on the development side of blockchain, some knowledge of coding (JavaScript, HTML, solidity, etc.) is helpful....
That means the company looks for blockchain developers with business acumen, such as a knowledge of supply chain or procurement systems or finance processes – skills that are already taught in undergraduate programs.
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In today's networked environments, the only certainty is change. It is imperative, therefore, that solutions are selected and designed with that in mind.
KPMG also looks for a job candidate's technical literacy, or the ability to understand data generated on a blockchain platform and how to use it in a business context.
One of the key attributes of blockchain is its ability to span an organization and its business partners, essentially connecting multiple, disparate entities through a single, transparent electronic ledger.
"But, then you have multiple people within each participating entity looking at the blockchain and they're all going to want to see slightly different things," Keele said. "So understanding how to derive those insights out of the information on a blockchain is key."A hacker's ability to problem solve
Those entering the blockchain development/engineering field should have the mentality of a hacker - or the ability to problem solve collaboratively in a workshop setting when a client presents a business problem.
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They need to be able to think through the business objectives, implications and value "for each of the participants and then [define] the architecture and overall solution flow," KPMG said. "It is this collaborative approach that leads to a successful application of blockchain.
"Given the lack of coursework around blockchain and its relatively new existence in the enterprise, a team must be open to exploring and experimenting by "hacking the problem" from a business and IT perspective, according to KPMG.
"I'd say at KPMG we've been very successful at taking [employee] skills in-house and upscaling them to deliver blockchain skills," Keele said.
"Until universities start printing blockchain degrees, that will be the pattern that will continue.
"The list of U.S. universities now offering courses on blockchain continues to grow and includes such prestigious institutions as MIT, Princeton, UC Berkeley and Stanford University.
The top blockchain jobs, according to a report last year by BusinessStudent.com, are interns, project managers, developers, engineers, quality engineers, legal consultants or attorneys and web designers.
While most techies who add blockchain to their skillset are versed in programming languages such as Java or Python, it's by no means a prerequisite for learning the technology.
Like any emerging technology, having the right talent is paramount to driving results, KPMG's report said."Blockchain projects will not succeed or scale without a multifaceted team that goes beyond technologists," KPMG wrote.
"We expect more universities to integrate blockchain into future coursework, which will help prepare both end users as well as those who will be responsible for building, deploying and managing blockchain."The dearth of workers for a hot field
Currently, there's a significant lack of skilled blockchain developers, according to job search sites and research firms. That paucity of talent is one of the major stumbling blocks for companies hoping to deploy blockchain. For those with blockchain skills, the job market is red hot.
In February, the online job search site Hired reported demand for blockchain engineers was "through the roof," with year-over-year growth of more than 200%.
Hired's jobs report, which was in line with earlier reports from LinkedIn and jobs market research firms Burning Glass Technologies and Janco Associates, shows software engineers with blockchain skills are in higher demand than at any time in the past, with the number of positions growing more than five-fold in the past year.
While blockchain engineering is the most in-demand skill on the Hired marketplace, only 12% of those surveyed by the firm earlier this year identified blockchain as the top technology they want to learn. Fifty-one percent of survey respondents named Python as one of their most-liked languages, 49% cited Javascript and 19% named. PHP.
Another problem affecting the mismatch between the need for blockchain developers and the scarcity of available workers is the difficulty in finding places that offer training, according to Hired CEO Mehul Patel.
In general, one in five software engineers is self-taught, according to Hired's data.
"I think generally we are seeing less than half of engineers we looked at had a B.S. degree and one-fifth of them had gone through a year and a half of school. So, one-third of our engineering base are self-taught or taught through non-traditional means," Patel said.
Senior Reporter Lucas Mearian covers financial services IT (including blockchain), healthcare IT and enterprise mobile issues (including mobility management, security, hardware and apps).-
Francisco Gimeno - BC Analyst Everytime a new technology starts to be mainstream there is a need of skilled personnel, and blockchain is not an exception. There are no many places which offer yet formation on it so there ia a substantial number of self taught individuals which are taking the opportunity to enter in a market with good openings.
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