What Is E Wallet? What are its Types? How Do They Work?

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E wallet acts like an online account from where you can make transactions without any need of physical money/ card. It helps in keeping digital assets too.

You can relate e wallets with debit cards as they have the money already before a user buys a product or a service.

Digital payment methods are advance and business owners have started relying on e wallet apps. This is because they are more secure and convenient way of making transactions.

How Digital Wallets / E Wallets Work?

A customer must have trust over the service provider before starting. In order to top up an e wallet, add your bank account details or credit card information. These are primary sources from where money will be transferred when a user has to pay.

An online wallet may not have funds in it all the times or at all. It is customer’s choice if he wants his funds intact or use it for buying or just want one. A payment transaction between two banks takes place.

Let’s move stepwise.

Step 1

User bank information gets registered on an e wallet.

Step 2

Buyer and seller banks communicate for making the transaction happen.

Step 3

Funds transfer between a buyer and a seller. Only required/ask funds can be withdrawn (if there isn’t any amount in the account).

Step 4

Transaction finished. Buyer receives the product / service. Seller receives the money.

This four step process is quick and convenient. Every transaction made is tracked and recorded in a system.

Types of Digital Wallets / E Wallets

E wallet acts like a prepaid account via which a user can make online or mobile payments. Before making the e wallet active, a user adds his bank details which get stored in the wallet. When a time comes, user can make the payment.

There are three basic types of e wallets. Open, closed and semi open wallets.

Open wallet

Such wallets are normally issued by banks or their partner institutions. They are used for transferring funds from one account to another and for withdrawing cash from ATMs. They work similar to credit and debit cards.

Closed wallet

Companies issue closed wallets for their customers / clients for making purchases of goods and services. They are limited with the service provider and can’t be used elsewhere. Closed wallets don’t allow withdrawing cash.

Semi open wallet

Just like closed wallet, they are sponsored by the companies. Customers can purchase products, and services (financial included) from multiple vendors. They don’t allow cash withdrawal....

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blockchain development services

How Blockchain Technology is Changing the Way Businesses Operate?

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Let’s face the fact: blockchain will change the businesses. Unlike past, blockchain may be the new internet. It isn’t just about Bitcoin or a way of cryptocurrency circulation, rather a revolutionary way of managing information / data. There is a radical reduction of human interference, costs, and little room for corruption.

Most of the headlines we see revolve around the investment raised through ICO platforms or the volatility of cryptocurrencies. However, there are many million ways of utilizing blockchain technology.

Blockchain will cause an impact on all major areas of business i.e. from accounting to operations, as predicted. Hire blockchain expert for implementation ICO, smart contracts, DApps and more.

Why blockchain development is crucial for the future of business? Transparency, traceability and quick workflow are key factors driving its popularity. It uses cryptography for processing and verifying transactions over the distributed digital ledger. Encryption and coding improve blockchain efficiency in maintaining transparency.

Accounting, blockchain improves data sampling and quickens transaction validity

Ken Tysiac in the Journal of Accountancy said, "blockchain’s transparency gives visibility to all transactions for approved users, and this may decrease auditors’ work with sampling and validating transactions … but this allows auditors more time to focus on controls and investigating anomalies. Meanwhile, opportunities are emerging for CPAs to use blockchain technology as they expand their assurance services to areas such as cybersecurity and sustainability.”

IT and cybersecurity, smart contracts

In the past few years we have heard of many data breaches. Yahoo, Target and many other companies disclosed the fact that there was user data information dissemination such as names, date of births, transactions details etc.

Managing director of Deloitte US is of the view that blockchain will empower $122 billion global cyber market. “The technology provides a way of recording transactions or any digital interaction in a way that is secure, transparent, highly resistant to outages, auditable, and efficient.”

Management and operations are better on blockchain

Eastman Kodak legacy company is reinventing its operations through its blockchain development venture. The management platform namely ‘KODAKOne’ will encrypt use data and provide rights ownership. Any photographer can register his new or archived work and license it inside the platform.

Professional photographers can have secure payments for their licensed work whenever the photos sold. The work is on a secure blockchain database.

This is just one example that how the 129 years old company is revolutionizing work of photographers and providing them ease.


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magento 2 seo extensions

Top Magento 2 SEO Extensions You Should Have

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There is nothing wrong in saying that Magento is the best ecommerce online platform. In terms of design, presentation and handful themes, there is no denying the fact that Magento is indeed a powerhouse for commerce websites.

However, these factors can’t drive enough traffic. You need some SEO tricks and for that matter, we have listed down some top Magento 2 SEO extensions here.

1- Improved Layered Navigation

For Magento 2, there is an extension which improves the overall user navigation by offering filters. Such as, price slider, color options, brand names and other attributes. Ajax filtering in the SEO extension helps in speeding up the process of search.

Multiple filter selection expands search and making it easy for the user. For alternative navigation option, a user can create brand pages. There is no page reloads because it has Ajax filtering.

Horizontal and vertical navigation, in-stock and reviews filters, SEO friendly URLs, and handy price sliders and widgets.

2- Landing pages

Landing pages are actually channels for attracting new customers / visitors. Custom selection of products for each Magento 2 page - increases conversion rate. There are custom metadata and content fields in the extension, alongside there are SEO URLs. This boosts the ranking of the website.

Flexibility of compiling a list of products, include new landing pages to the sitemap, unique metadata and content, are few features of the landing page plugin for Magento 2.

3- SEO toolkit

Everything you need for SEO optimization of a website lies in this toolkit. Product and category pages with meta description and tags. Automatic link juice building and what not.

Breadcrumbs info, stock status, and feature rich snippets for SEO, XML/HTML sitemaps auto-generation after an update and more.

4- FAQs and product questions

Decrease support service load by having FAQs and product questions and answers on the product pages. Equip your product pages with advance FAQs, hence pave a way for boosting your SEO.

User-generated content, more customer traffic with an open-ended option of putting questions. Mobile optimization and prevention of content duplication are also there in the SEO plugin of Magento 2.


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6 Basic Questions to Ask Before Launching a Blockchain Project

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More than 1600+ cryptocurrencies are in circulation and we know the big ones such as Bitcoin (BTC) and Ethereum (ETH). In an attempt of making an informed decision, you must ask some wise blockchain questions.

You should know what information about the project is important and what’s not.

Blockchain story has just started, it isn’t in the middle or at the end. Bitcoin was the first generation of proof of concept and Ethereum is the second, third includes projects like Hyperledger.

Enterprise blockchain projects can only get successful if they seek advantage of the unique features of blockchain.

Here is the list of few questions you must ask before launching a blockchain project.

1- Is your project offering real-world problem solution?

Most of the coins out there are value transferring protocols and they don’t offer anything more which Bitcoin or Ethereum do not have. Second use case are those companies adopting blockchain without even knowing clearly about it.

It is worth reminding yourself that what problems your blockchain project will solve. Is the platform best suited for your solution? If a project can solve a problem through distributed ledger technology which previously was unsolved, it will ensure high demand in the market.

2- Does the market has working product already?

Blockchain projects or staging ICOs don’t have running or working product in hand. ICOs usually happen in phases and take 6 months to 1 year of time for investment. A lot of things may happen during this time period. A product may not evolve as planned or may fail.

If the project has working product already, it’s a huge plus point. Or even if the product is in alpha or beta phase. It adds legitimacy and ensures future success.

3- What exactly do you want as an end result from the blockchain project?

Be clear on the project requirements, ask if you really need blockchain?  Do you need any additional scrutiny in the smart contracts or the current one is suffice? There are different types of blockchains, private, permissioned and public, if you don’t want your company data out in public, private blockchain is the answer here.

4- What are data integration issues?

One of the major issues enterprise blockchains face is the data integration. Integrating all legacy data formats and their structures, so that the blockchain project participants can use. Healthcare is one such good example here. They have different medical records format in use and a blockchain must reconcile.

5- What are your performance indicators?

Bitcoin and Ethereum manage hundreds of transactions per second and this may sound slow for some enterprises. So before getting on a blockchain, you must know your performance requirements. Bitcoin lighting network and Hyper Ledger Fabric are some solutions for improving performance.

6- What are the legal complications?

Before building a blockchain project, do read the regulations regarding and how they operate in your region. The security and transparency is often the objection but it totally depends on the type of blockchain you select and how you operate your processes through it....

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enterprise blockchain solutions

Blockchain Is Addressing Enterprise Problems, Here’s How?

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Bitcoin was launched in 2009 and it generated quite a buzz. Now in 2018, blockchain is creating ripples in enterprise applications. In October 2017, around 24% of the companies were looking for potential enterprise blockchain applications and 16% companies purchased the blockchain solutions already.

New figures are even more promising. From freight, oil, gas, online voting to food, there are innumerable applications of enterprise blockchain.

Yes, the term enterprise blockchain is getting more and more traction because of the potential it holds.

Why Enterprises Interested in Blockchain Solutions?

  • Improved transparency
  • Customer becomes more loyal, no data leaks
  • Cost and time reduction for transactions
  • Less chances of fraud, since blockchain is decentralized
  • Better product and process security

The above-said capabilities have division horizontally in industry applications. Use cases for different industry verticals vary. Some of the horizontal applications include supply chain management, product authenticity, data sharing, system introspection, audit and process verification and product lifecycles.

Now let’s see some of the vertical applications such as, finance and insurance – transaction settlement, health - food provenance and personal health records and more.

Security and privacy of customer data

Enterprises concern for the security and privacy of customer data and that is the hurdle in the scalability of blockchain. And for their business processes, the enterprises are overprotective about their intellectual property.

Enterprises mostly don’t want their data public. That means, they are more into private or permissioned blockchain. Companies don’t let anyone access their processes – only visible to authorized users. That is the reason why companies adopt private and in the end hybrid cloud architectures as the best blockchain solution.

Enterprise blockchain scalability

IBM and US Food and Drug Administration (FDA) are working on scalable health data. Blockchain enterprise will improve transparency of data and trust of a patient. Though the collaboration started in 2017, but ever since they did clinical trials and started off with oncology data. So, the results are satisfying.

Real estate involves sellers, brokers, agents, etc. this means the process becomes risky and too slow. Decentralized nature of blockchain prevent any fraud as it offers smart contracts where there is no third party intrusion.

Private and permissioned blockchain has eliminated the fear of leaking out of secrets as now the private blockchain can offer way more scrutiny.


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key challenges of crowdfunding

Key Crowdfunding Challenges a Startup Faces

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If you are getting a bank loan for a business, you are not sure when will you pay back or may face bankruptcy. In case of investment angels, you lose control of your business sometimes. Crowdfunding is a better option if there is a need of financial stability.

There are many types of crowdfunding these days, ICOs are the ones trending the most as source of capital for startups.

Crowdfunding is risk-free considering the above-mentioned scenarios. No one is controlling your business and there is no risk of bankruptcy either. However, crowdfunding platforms have their own pros and cons. Comparatively, they are the best source for raising funds. Hire ICO experts for ICO development.

Don’t miss out the key crowdfunding challenges because without knowing you can’t prevent them.

1- Trust, brand credibility

When you are a brand and people know about you, it’s easy raising funds from crowdfunding campaigns.  Like Telegram, they raised billions within few minutes of their ICO launch.

Consider building brand credibility as investors are always on a look out for it. If you are not a brand, that doesn’t mean you won’t qualify for crowdfunding as it’s the idea and the whitepaper which counts the most. Investors read the whitepaper / roadmap of your startup as in what will you do after acquiring the set capped amount from a crowdfunding platform. If you have mentioned each and every detail, this will build trust too.

2- Choosing the right platform

Numerous business offerings are there with different crowdfunding platforms. Many think, more the options, greater possibilities will open up and more competition. This isn’t always true.

Ask several basic questions when you think of running your crowdfunding campaigns.

Type of visitors a platform has, number of visitors, costs of running a campaign and their set of conditions.

Some of the popular crowdfunding platforms are Kickstarter and Indiegogo.

3- Setting realistic targets

Set the right goals with a budget planning. In case of ICOs, you can set a soft cap based on startup objective, and by mentioning achievable goals. Don’t exaggerate your idea especially if you think of attracting investors. Remember the fact that, investors do have great minds and they can validate if the startup idea is real or not.

4- Generate interest of people before launch

Before launching a crowdfunding campaign, generate interest first. This is one of the biggest mistakes marketers or startup owners do. They launch a campaign without knowing if the people will get interested or not. First engage them and then launch. At least take five months in advance before hitting on a crowdfunding campaign. ...

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How Can a Startup Prepare for Crowdfunding Campaign?

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Building a crowdfunding platform such as ICO is not an easy task. Apparently launching crowdfunding campaign seems exciting because of the money and the fan base it generates. But things are not as easy as we think.

Hire ICO expert or crowdfunding service providers for an advice. They know how crowdfunding campaigns can produce better results in no time.

Successful crowdfunding campaigns take time. They need strategic planning, and proper marketing. There are few things important for crowdfunding campaigns.

Assess if the crowdfunding is right for you?

Crowdfunding is an amazing tool for raising funds and making a startup financially stable. There are following questions you have to answer before launching a campaign.
  • How your brand is different from your competitors?
  • Which form of crowdfunding do you need? (equity and reward-based crowdfunding are few forms)
  • What is the fee structure for the platform?
  • How thoroughly do you know about your audience?
  • Do i have the crowdfunding campaign tools?
  • Do I have the team for manufacturing the product once the campaign is over?

Pick the type of crowdfunding for the project / startup

There are basically four types of crowdfunding. Reward-based, just like Indiegogo and Kickstarter. Peer to peer lending, like Lending Club. Donation-based crowdfunding, like GoFundMe. Equity crowdfunding, like CircleUp. Each crowdfunding platform offers its pros and cons but all of the mentioned platforms are well-known and ideal for crowdfunding.

Use powerful campaign titles

Best practice in picking a name or title of the campaign is understanding the fact that name will drive audience. Be descriptive, don’t title the campaign with the product name only, lead them towards ‘what the product is?’ Moving forward, explain the product benefits and not features.

Plan your marketing budget

Luck has nothing much to do with the success of the campaign. Plan the budget ahead of time. Invest efforts smartly on the tasks where you can actually get traction. Don’t fall for common crowdfunding mistakes and beware of the current marketing trends.

Offer series of great rewards

For getting the support of your fan base, offer them some rewards. Rewards engage your audience and the response will improve as a result. It may be time taking to think of ways which motivate and excite your audience....

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