Meta has surprised the universe of finance; no one imagined that after completing a year in the creation of his Metaverse, Mark Zuckerberg’s company could be at risk to the point of decreasing its value by an average amount of 65 billion dollars. The use of resourceful platforms like the Bitcoin Era is important, and we can highlight the use of such platforms quite readily because they are significantly effective.

The leading cause could be the large sum of money that the founder of Meta has allocated to create the general concept of what the Metaverse will be in about ten years, only that the advertising expenses and the excessive inflation that surrounds the market have not allowed that it develops as expected and on the contrary has created terror in investors.

This bearish trend may have drastically affected Meta, but it should be noted that several technology companies had the same fate, taking into account the Fed’s decisions.

The Metaverse has been made uphill for Meta.

Meta shares have reached significant lows compared to those experienced six years ago, but since the drop has been widespread, it could be due to a single focal point that is none other than the Metaverse.

Alphabet and Microsoft have also been affected by the stock market’s fall; this could reduce the companies’ dedication to creating the Metaverse and its projects.

Currently, the virtual worlds of Meta have yet to reach the desired position, placing them as empty worlds compared to those offered by the Roblox and Fortnite Metaverses, which are the reference for immersive 3D worlds.

The creation of devices that allow users of the Metaverse to fully experience virtual worlds through their avatars, breaking the barriers of space and time in the real world, has required large injections of capital that have cost Meta its global position.

This young visionary hope to recover in unlimited amounts the investments made, even though Reality Labs has registered more than 9,500 million dollars in losses. On the other hand, this amount could be increased by 2023, when Meta must prepare to create the strategy that allows it to recover.

The alarms are activated, and everything is left in the hands of the market and the decisions regarding the risk control that each company structures.

Causes that have made Meta fall

Zuckerberg’s company has been involved in several negative situations for the reputation of the leading social network and the Metaverse proposal they hope to convey to their followers.

The situations have been one after another; even the posting of the Meta CEO avatar showed a fundamental view of the Meta Metaverse for what has been advertised, which caused disappointment among its users.

Despite statements trying to redeem the mistake of posting a poorly plotted image and apologies from the creator of Meta, they certainly contributed to a poor start for Horizon Worlds Meta’s Metaverse.

The following are the four causes that could be causing Meta’s missteps:

1. A poorly projected image

The weaknesses in creating a concise and defined image of what the Metaverse of Meta will be has been affected by the constant failures in terms of transmitting to users what is expected to be the virtual worlds of Horizon Worlds, where to date, after a year of tests and trials there is no straightforward project that captures the attention of Internet users.

2. Lack of innovation

From a global perspective, the growth of Meta has yet to have the desired impact. Facebook is entering a stage of obsolescence. The Instagram and WhatsApp applications are only creations acquired from third parties, whereas the business models are copies of other social networks.

3. The loss of popularity of Facebook

We must be aware that technology must constantly be updated since its users and followers are in the current of obtaining products and services of the latest technology; it is there where Facebook now Meta could be left behind only with its loyal followers while young people prefer to interact in other types of newer and fresher applications.

4. Lack of credibility

The ability to create fake news through Facebook makes followers not consider this platform as reliable, in addition to the publication of content that can often be violent or generate inappropriate behavior in society; all of this gives negative points to the application.

Conclusion

We are facing an explosive social, economic, and financial scenario, which undoubtedly affects all elements of society and worries investors and owners of large leading companies in the market.

Oil trading is a complex and pivotal industry in the global economy, with crude oil and its derivatives serving as essential resources for energy production, transportation, and various industrial sectors. Attracting a diverse array of participants, including multinational corporations, financial institutions, and individual traders, this sector is continually evolving. To excel in this dynamic field, it’s crucial to remain well-informed and adopt innovative approaches. One valuable resource to consider for enhancing your trading strategies is Oil Profit, which can help you stay competitive and navigate the ever-changing landscape of oil trading effectively.

Understanding the Basics of Oil Trading

Overview of the Oil Market

The oil market is driven by the fundamental principles of supply and demand. Changes in geopolitical events, technological advancements, and economic factors can significantly influence oil prices. Understanding these dynamics is essential for successful trading.

Key Market Players

The oil market comprises various key players, including oil producers, refiners, traders, and consumers. Each player has a unique role in shaping the market’s dynamics. Oil-producing nations, such as OPEC members, have a significant impact on supply, while consumers, like industrialized countries, influence demand.

Role of Speculation in Oil Trading

Speculation involves betting on future price movements rather than buying oil for consumption. Speculators provide liquidity to the market but can also contribute to price volatility. Traders must navigate this aspect of the market carefully.

Trading Instruments in the Oil Market

The oil market offers a range of trading instruments, each with its characteristics and risk profiles.

Futures Contracts

Futures contracts are standardized agreements to buy or sell oil at a predetermined price on a future date. They are commonly used for hedging and speculation.

Options Contracts

Options contracts provide traders with the right, but not the obligation, to buy or sell oil at a specified price within a set timeframe. They offer flexibility and risk management benefits.

Swaps and Derivatives

Swaps and derivatives, such as oil price swaps and forwards, allow participants to customize their risk exposure. These instruments are valuable for managing complex risk scenarios.

Traditional Approaches to Oil Trading

Historical Trading Methods

Traditionally, oil trading involved physical transactions, with traders handling the actual delivery of oil. Over time, this has evolved into a predominantly paper-based market, where traders buy and sell contracts representing oil quantities.

Risks Associated with Conventional Trading

Traditional oil trading comes with inherent risks, including exposure to price fluctuations, logistical challenges, and geopolitical uncertainties. Adapting to these risks is crucial for long-term success.

The Need for Adaptation

In today’s fast-paced trading environment, traders must embrace innovation to stay competitive. Traditional approaches alone may not be sufficient in navigating the complexities of the modern oil market.

Leveraging Technology in Oil Trading

High-Frequency Trading (HFT)

High-frequency trading involves using algorithms and computer programs to execute a large number of trades at extremely high speeds. HFT can capitalize on tiny price discrepancies and market inefficiencies.

Algorithmic Trading

Algorithmic trading strategies use mathematical models to make trading decisions. These algorithms can analyze vast amounts of data and execute trades more efficiently than human traders.

Artificial Intelligence (AI) and Machine Learning

AI and machine learning technologies can analyze historical data and real-time market information to predict price movements and make informed trading decisions.

Blockchain and Smart Contracts

Blockchain technology can enhance transparency and security in oil trading. Smart contracts, based on blockchain, automate and enforce contract terms, reducing the risk of disputes.

Sustainable and Eco-Friendly Oil Trading Practices

ESG (Environmental, Social, and Governance) Factors in Trading

Incorporating ESG factors into trading decisions is gaining prominence. Traders evaluate companies based on their environmental impact, social responsibility, and corporate governance practices.

Renewable Energy Integration

As the world shifts towards cleaner energy sources, oil traders are diversifying their portfolios to include renewable energy assets, such as wind and solar projects.

Carbon Offset Trading

Carbon offset trading allows companies to mitigate their carbon emissions by investing in projects that reduce greenhouse gases. This emerging market offers opportunities for environmentally-conscious traders.

Ethical Investment Strategies

Traders are increasingly aligning their investments with ethical principles, avoiding companies involved in controversial activities or industries.

Risk Management and Hedging Strategies

Utilizing Risk Management Tools

Effective risk management involves using tools like hedging to protect against adverse price movements. Diversification across different energy markets can also reduce exposure.

Managing Geopolitical and Market Risks

Geopolitical events, such as conflicts in oil-producing regions, can lead to supply disruptions. Traders must stay informed about these risks and adjust their strategies accordingly.

Case Studies of Successful Risk Mitigation

Exploring real-world examples of risk mitigation strategies can provide valuable insights for oil traders. Learning from past successes and failures is crucial for refining trading approaches.

Regulatory and Compliance Innovations

Evolving Regulatory Landscape

The regulatory environment for oil trading is continually evolving. Traders must stay up-to-date with changing rules and regulations to ensure compliance.

Compliance with International Standards

Adhering to international standards, such as those set by organizations like the International Swaps and Derivatives Association (ISDA), is essential for seamless cross-border trading.

The Role of Technology in Regulatory Compliance

Technology solutions, including regtech (regulatory technology), can help traders automate compliance processes and reduce the risk of regulatory violations.

Future Trends and Challenges

Emerging Market Trends

The transition to renewable energy sources and the geopolitics of global energy supply are key trends shaping the future of oil trading.

Challenges in Adapting to Rapid Changes

Adapting to technological advancements, sustainability requirements, and regulatory changes presents challenges that traders must overcome.

Strategies for Staying Competitive

Successful oil traders will need to balance traditional trading wisdom with innovative approaches, continuously adapt to market conditions, and embrace sustainability and technology to stay competitive in the dynamic world of oil trading.

Conclusion

In conclusion, the oil trading industry is undergoing significant changes, driven by technology, sustainability concerns, and evolving regulations. To succeed in this dynamic environment, traders must understand the basics, embrace innovation, manage risks effectively, and stay abreast of emerging trends. By combining traditional wisdom with innovative approaches, oil traders can navigate the challenges and seize opportunities in this vital global market.

SACCO Loans Repayment Schemes, Interest rates- Wezesha Loans

WEZESHA LOAN AT 13.5%
YEARS	1	2	3	4	5	6
MONTHS	12	24	36	48	60	72
10,000	896	478	339	271	230	203
20,000	1,791	956	679	542	460	407
30,000	2,687	1,433	1,018	812	690	610
40,000	3,582	1,911	1,357	1,084	920	814
50,000	4,478	2,389	1,697	1,354	1,150	1,017
60,000	5,373	2,867	2,036	1,625	1,381	1,220
70,000	6,269	3,344	2,375	1,895	1,611	1,424
80,000	7,164	3,822	2,715	2,166	1,841	1,627
90,000	8,060	4,300	3,054	2,437	2,071	1,831
100,000	8,955	4,778	3,394	2,708	2,301	2,034
110,000	9,851	5,255	3,733	2,978	2,531	2,237
120,000	10,746	5,733	4,072	3,249	2,761	2,441
130,000	11,642	6,211	4,412	3,520	2,991	2,644
140,000	12,537	6,689	4,751	3,791	3,221	2,847
150,000	13,433	7,167	5,090	4,061	3,451	3,051
160,000	14,328	7,644	5,430	4,332	3,682	3,254
170,000	15,224	8,122	5,769	4,603	3,912	3,458
180,000	16,119	8,600	6,108	4,874	4,142	3,661
190,000	17,015	9,078	6,448	5,145	4,372	3,864
200,000	17,910	9,555	6,787	5,415	4,602	4,068
210,000	18,806	10,033	7,126	5,686	4,832	4,271
220,000	19,701	10,511	7,466	5,957	5,062	4,475
230,000	20,597	10,989	7,805	6,228	5,292	4,678
240,000	21,492	11,466	8,144	6,498	5,522	4,881
250,000	22,388	11,944	8,484	6,769	5,752	5,085
260,000	23,284	12,422	8,823	7,040	5,983	5,288
270,000	24,179	12,900	9,163	7,311	6,213	5,492
280,000	25,075	13,378	9,502	7,581	6,443	5,695
290,000	25,970	13,855	9,841	7,852	6,673	5,898
300,000	26,866	14,333	10,181	8,123	6,903	6,102
310,000	27,761	14,811	10,520	8,394	7,133	6,305
320,000	28,657	15,289	10,859	8,664	7,363	6,508
330,000	29,552	15,766	11,199	8,935	7,593	6,712
340,000	30,448	16,244	11,538	9,206	7,823	6,915
350,000	31,343	16,722	11,877	9,477	8,053	7,119
360,000	32,239	17,200	12,217	9,747	8,284	7,322
370,000	33,134	17,677	12,556	10,018	8,514	7,525
380,000	34,030	18,155	12,895	10,289	8,744	7,729
390,000	34,925	18,633	13,235	10,560	8,974	7,932
400,000	35,821	19,111	13,574	10,831	9,204	8,136
410,000	36,716	19,589	13,913	11,101	9,434	8,339
420,000	37,612	20,066	14,253	11,372	9,664	8,542
430,000	38,507	20,544	14,592	11,643	9,894	8,746
440,000	39,403	21,022	14,932	11,914	10,124	8,949
450,000	40,298	21,500	15,271	12,184	10,354	9,153
460,000	41,194	21,977	15,610	12,455	10,585	9,356
470,000	42,089	22,455	15,950	12,726	10,815	9,559
480,000	42,985	22,933	16,289	12,997	11,045	9,763
490,000	43,880	23,411	16,628	13,267	11,275	9,966
500,000	44,776	23,889	16,968	13,538	11,505	10,169
510,000	45,672	24,366	17,307	13,809	11,735	10,373
520,000	46,567	24,844	17,646	14,080	11,965	10,576
530,000	47,463	25,322	17,986	14,350	12,195	10,780
540,000	48,358	25,800	18,325	14,621	12,425	10,983
550,000	49,254	26,277	18,664	14,892	12,655	11,186
560,000	50,149	26,755	19,004	15,163	12,886	11,390
570,000	51,045	27,233	19,343	15,434	13,116	11,593
580,000	51,940	27,711	19,682	15,704	13,346	11,797
590,000	52,836	28,188	20,022	15,975	13,576	12,000
600,000	53,731	28,666	20,361	16,246	13,806	12,203
610,000	54,627	29,144	20,701	16,517	14,036	12,407
620,000	55,522	29,622	21,040	16,787	14,266	12,610
630,000	56,418	30,100	21,379	17,058	14,496	12,814
640,000	57,313	30,577	21,719	17,329	14,726	13,017
650,000	58,209	31,055	22,058	17,600	14,956	13,220
660,000	59,104	31,533	22,397	17,870	15,186	13,424
670,000	60,000	32,011	22,737	18,141	15,417	13,627
680,000	60,895	32,488	23,076	18,412	15,647	13,830
690,000	61,791	32,966	23,415	18,683	15,877	14,034
700,000	62,686	33,444	23,755	18,953	16,107	14,237
710,000	63,582	33,922	24,094	19,224	16,337	14,441
720,000	64,477	34,399	24,433	19,495	16,567	14,644
730,000	65,373	34,877	24,773	19,766	16,797	14,847
740,000	66,269	35,355	25,112	20,036	17,027	15,051
750,000	67,164	35,833	25,451	20,307	17,257	15,254
760,000	68,060	36,311	25,791	20,578	17,487	15,458
770,000	68,955	36,788	26,130	20,849	17,718	15,661
780,000	69,851	37,266	26,470	21,120	17,948	15,864
790,000	70,746	37,744	26,809	21,390	18,178	16,068
800,000	71,642	38,222	27,148	21,661	18,408	16,271
810,000	72,537	38,699	27,488	21,932	18,638	16,475
820,000	73,433	39,177	27,827	22,203	18,868	16,678
830,000	74,328	39,655	28,166	22,473	19,098	16,881
840,000	75,224	40,133	28,506	22,744	19,328	17,085
850,000	76,119	40,610	28,845	23,015	19,558	17,288
860,000	77,015	41,088	29,184	23,286	19,788	17,492
870,000	77,910	41,566	29,524	23,556	20,019	17,695
880,000	78,806	42,044	29,863	23,827	20,249	17,898
890,000	79,701	42,522	30,202	24,098	20,479	18,102
900,000	80,597	42,999	30,542	24,369	20,709	18,305
910,000	81,492	43,477	30,881	24,639	20,939	18,508
920,000	82,388	43,955	31,220	24,910	21,169	18,712
930,000	83,283	44,433	31,560	25,181	21,399	18,915
940,000	84,179	44,910	31,899	25,452	21,629	19,119
950,000	85,074	45,388	32,239	25,723	21,859	19,322
960,000	85,970	45,866	32,578	25,993	22,089	19,525
970,000	86,865	46,344	32,917	26,264	22,320	19,729
980,000	87,761	46,821	33,257	26,535	22,550	19,932
990,000	88,657	47,299	33,596	26,806	22,780	20,136
1,000,000	89,552	47,777	33,935	27,076	23,010	20,339
1,010,000	90,448	48,255	34,275	27,347	23,240	20,542
1,020,000	91,343	48,733	34,614	27,618	23,470	20,746
1,030,000	92,239	49,210	34,953	27,889	23,700	20,949
1,040,000	93,134	49,688	35,293	28,159	23,930	21,153
1,050,000	94,030	50,166	35,632	28,430	24,160	21,356
1,060,000	94,925	50,644	35,971	28,701	24,390	21,559
1,070,000	95,821	51,121	36,311	28,972	24,621	21,763
1,080,000	96,716	51,599	36,650	29,242	24,851	21,966
1,090,000	97,612	52,077	36,989	29,513	25,081	22,169
1,100,000	98,507	52,555	37,329	29,784	25,311	22,373
1,110,000	99,403	53,032	37,668	30,055	25,541	22,576
1,120,000	100,298	53,510	38,008	30,325	25,771	22,780
1,130,000	101,194	53,988	38,347	30,596	26,001	22,983
1,140,000	102,089	54,466	38,686	30,867	26,231	23,186
1,150,000	102,985	54,944	39,026	31,138	26,461	23,390
1,160,000	103,880	55,421	39,365	31,409	26,691	23,593
1,170,000	104,776	55,899	39,704	31,679	26,922	23,797
1,180,000	105,671	56,377	40,044	31,950	27,152	24,000
1,190,000	106,567	56,855	40,383	32,221	27,382	24,203
1,200,000	107,462	57,332	40,722	32,492	27,612	24,407
1,210,000	108,358	57,810	41,062	32,762	27,842	24,610
1,220,000	109,253	58,288	41,401	33,033	28,072	24,814
1,230,000	110,149	58,766	41,740	33,304	28,302	25,017
1,240,000	111,045	59,243	42,080	33,575	28,532	25,220
1,250,000	111,940	59,721	42,419	33,845	28,762	25,424
1,260,000	112,836	60,199	42,758	34,116	28,992	25,627
1,270,000	113,731	60,677	43,098	34,387	29,223	25,830
1,280,000	114,627	61,155	43,437	34,658	29,453	26,034
1,290,000	115,522	61,632	43,777	34,928	29,683	26,237
1,300,000	116,418	62,110	44,116	35,199	29,913	26,441
1,310,000	117,313	62,588	44,455	35,470	30,143	26,644
1,320,000	118,209	63,066	44,795	35,741	30,373	26,847
1,330,000	119,104	63,543	45,134	36,012	30,603	27,051
1,340,000	120,000	64,021	45,473	36,282	30,833	27,254
1,350,000	120,895	64,499	45,813	36,553	31,063	27,458
1,360,000	121,791	64,977	46,152	36,824	31,293	27,661
1,370,000	122,686	65,455	46,491	37,095	31,523	27,864
1,380,000	123,582	65,932	46,831	37,365	31,754	28,068
1,390,000	124,477	66,410	47,170	37,636	31,984	28,271
1,400,000	125,373	66,888	47,509	37,907	32,214	28,475
1,410,000	126,268	67,366	47,849	38,178	32,444	28,678
1,420,000	127,164	67,843	48,188	38,448	32,674	28,881
1,430,000	128,059	68,321	48,527	38,719	32,904	29,085
1,440,000	128,955	68,799	48,867	38,990	33,134	29,288
1,450,000	129,850	69,277	49,206	39,261	33,364	29,491
1,460,000	130,746	69,754	49,546	39,531	33,594	29,695
1,470,000	131,641	70,232	49,885	39,802	33,824	29,898
1,480,000	132,537	70,710	50,224	40,073	34,055	30,102
1,490,000	133,433	71,188	50,564	40,344	34,285	30,305
1,500,000	134,328	71,666	50,903	40,614	34,515	30,508
1,510,000	135,224	72,143	51,242	40,885	34,745	30,712
1,520,000	136,119	72,621	51,582	41,156	34,975	30,915
1,530,000	137,015	73,099	51,921	41,427	35,205	31,119
1,540,000	137,910	73,577	52,260	41,698	35,435	31,322
1,550,000	138,806	74,054	52,600	41,968	35,665	31,525
1,560,000	139,701	74,532	52,939	42,239	35,895	31,729
1,570,000	140,597	75,010	53,278	42,510	36,125	31,932
1,580,000	141,492	75,488	53,618	42,781	36,356	32,136
1,590,000	142,388	75,965	53,957	43,051	36,586	32,339
1,600,000	143,283	76,443	54,296	43,322	36,816	32,542
1,610,000	144,179	76,921	54,636	43,593	37,046	32,746
1,620,000	145,074	77,399	54,975	43,864	37,276	32,949
1,630,000	145,970	77,877	55,315	44,134	37,506	33,153
1,640,000	146,865	78,354	55,654	44,405	37,736	33,356
1,650,000	147,761	78,832	55,993	44,676	37,966	33,559
1,660,000	148,656	79,310	56,333	44,947	38,196	33,763
1,670,000	149,552	79,788	56,672	45,217	38,426	33,966
1,680,000	150,447	80,265	57,011	45,488	38,657	34,169
1,690,000	151,343	80,743	57,351	45,759	38,887	34,373
1,700,000	152,238	81,221	57,690	46,030	39,117	34,576
1,710,000	153,134	81,699	58,029	46,301	39,347	34,780
1,720,000	154,029	82,176	58,369	46,571	39,577	34,983
1,730,000	154,925	82,654	58,708	46,842	39,807	35,186
1,740,000	155,821	83,132	59,047	47,113	40,037	35,390
1,750,000	156,716	83,610	59,387	47,384	40,267	35,593
1,760,000	157,612	84,088	59,726	47,654	40,497	35,797
1,770,000	158,507	84,565	60,065	47,925	40,727	36,000
1,780,000	159,403	85,043	60,405	48,196	40,958	36,203
1,790,000	160,298	85,521	60,744	48,467	41,188	36,407
1,800,000	161,194	85,999	61,084	48,737	41,418	36,610
1,810,000	162,089	86,476	61,423	49,008	41,648	36,814
1,820,000	162,985	86,954	61,762	49,279	41,878	37,017
1,830,000	163,880	87,432	62,102	49,550	42,108	37,220
1,840,000	164,776	87,910	62,441	49,820	42,338	37,424
1,850,000	165,671	88,387	62,780	50,091	42,568	37,627
1,860,000	166,567	88,865	63,120	50,362	42,798	37,830
1,870,000	167,462	89,343	63,459	50,633	43,028	38,034
1,880,000	168,358	89,821	63,798	50,903	43,259	38,237
1,890,000	169,253	90,299	64,138	51,174	43,489	38,441
1,900,000	170,149	90,776	64,477	51,445	43,719	38,644
1,910,000	171,044	91,254	64,816	51,716	43,949	38,847
1,920,000	171,940	91,732	65,156	51,987	44,179	39,051
1,930,000	172,835	92,210	65,495	52,257	44,409	39,254
1,940,000	173,731	92,687	65,834	52,528	44,639	39,458
1,950,000	174,626	93,165	66,174	52,799	44,869	39,661
1,960,000	175,522	93,643	66,513	53,070	45,099	39,864
1,970,000	176,417	94,121	66,853	53,340	45,329	40,068
1,980,000	177,313	94,598	67,192	53,611	45,559	40,271
1,990,000	178,209	95,076	67,531	53,882	45,790	40,475
2,000,000	179,104	95,554	67,871	54,153	46,020	40,678
2,010,000	180,000	96,032	68,210	54,423	46,250	40,881
2,020,000	180,895	96,510	68,549	54,694	46,480	41,085
2,030,000	181,791	96,987	68,889	54,965	46,710	41,288
2,040,000	182,686	97,465	69,228	55,236	46,940	41,491
2,050,000	183,582	97,943	69,567	55,506	47,170	41,695
2,060,000	184,477	98,421	69,907	55,777	47,400	41,898
2,070,000	185,373	98,898	70,246	56,048	47,630	42,102
2,080,000	186,268	99,376	70,585	56,319	47,860	42,305
2,090,000	187,164	99,854	70,925	56,590	48,091	42,508
2,100,000	188,059	100,332	71,264	56,860	48,321	42,712
2,110,000	188,955	100,810	71,603	57,131	48,551	42,915
2,120,000	189,850	101,287	71,943	57,402	48,781	43,119
2,130,000	190,746	101,765	72,282	57,673	49,011	43,322
2,140,000	191,641	102,243	72,622	57,943	49,241	43,525
2,150,000	192,537	102,721	72,961	58,214	49,471	43,729
2,160,000	193,432	103,198	73,300	58,485	49,701	43,932
2,170,000	194,328	103,676	73,640	58,756	49,931	44,136
2,180,000	195,223	104,154	73,979	59,026	50,161	44,339
2,190,000	196,119	104,632	74,318	59,297	50,392	44,542
2,200,000	197,014	105,109	74,658	59,568	50,622	44,746
2,210,000	197,910	105,587	74,997	59,839	50,852	44,949
2,220,000	198,806	106,065	75,336	60,109	51,082	45,152
2,230,000	199,701	106,543	75,676	60,380	51,312	45,356
2,240,000	200,597	107,021	76,015	60,651	51,542	45,559
2,250,000	201,492	107,498	76,354	60,922	51,772	45,763
2,260,000	202,388	107,976	76,694	61,192	52,002	45,966
2,270,000	203,283	108,454	77,033	61,463	52,232	46,169
2,280,000	204,179	108,932	77,372	61,734	52,462	46,373
2,290,000	205,074	109,409	77,712	62,005	52,693	46,576
2,300,000	205,970	109,887	78,051	62,276	52,923	46,780
2,310,000	206,865	110,365	78,391	62,546	53,153	46,983
2,320,000	207,761	110,843	78,730	62,817	53,383	47,186
2,330,000	208,656	111,320	79,069	63,088	53,613	47,390
2,340,000	209,552	111,798	79,409	63,359	53,843	47,593
2,350,000	210,447	112,276	79,748	63,629	54,073	47,797
2,360,000	211,343	112,754	80,087	63,900	54,303	48,000
2,370,000	212,238	113,232	80,427	64,171	54,533	48,203
2,380,000	213,134	113,709	80,766	64,442	54,763	48,407
2,390,000	214,029	114,187	81,105	64,712	54,994	48,610
2,400,000	214,925	114,665	81,445	64,983	55,224	48,814
2,410,000	215,820	115,143	81,784	65,254	55,454	49,017
2,420,000	216,716	115,620	82,123	65,525	55,684	49,220
2,430,000	217,611	116,098	82,463	65,795	55,914	49,424
2,440,000	218,507	116,576	82,802	66,066	56,144	49,627
2,450,000	219,402	117,054	83,141	66,337	56,374	49,830
2,460,000	220,298	117,531	83,481	66,608	56,604	50,034
2,470,000	221,194	118,009	83,820	66,879	56,834	50,237
2,480,000	222,089	118,487	84,160	67,149	57,064	50,441
2,490,000	222,985	118,965	84,499	67,420	57,295	50,644
2,500,000	223,880	119,443	84,838	67,691	57,525	50,847
2,510,000	224,776	119,920	85,178	67,962	57,755	51,051
2,520,000	225,671	120,398	85,517	68,232	57,985	51,254
2,530,000	226,567	120,876	85,856	68,503	58,215	51,458
2,540,000	227,462	121,354	86,196	68,774	58,445	51,661
2,550,000	228,358	121,831	86,535	69,045	58,675	51,864
2,560,000	229,253	122,309	86,874	69,315	58,905	52,068
2,570,000	230,149	122,787	87,214	69,586	59,135	52,271
2,580,000	231,044	123,265	87,553	69,857	59,365	52,475
2,590,000	231,940	123,742	87,892	70,128	59,596	52,678
2,600,000	232,835	124,220	88,232	70,398	59,826	52,881
2,610,000	233,731	124,698	88,571	70,669	60,056	53,085
2,620,000	234,626	125,176	88,910	70,940	60,286	53,288
2,630,000	235,522	125,654	89,250	71,211	60,516	53,491
2,640,000	236,417	126,131	89,589	71,481	60,746	53,695
2,650,000	237,313	126,609	89,929	71,752	60,976	53,898
2,660,000	238,208	127,087	90,268	72,023	61,206	54,102
2,670,000	239,104	127,565	90,607	72,294	61,436	54,305
2,680,000	239,999	128,042	90,947	72,565	61,666	54,508
2,690,000	240,895	128,520	91,286	72,835	61,896	54,712
2,700,000	241,790	128,998	91,625	73,106	62,127	54,915
2,710,000	242,686	129,476	91,965	73,377	62,357	55,119
2,720,000	243,582	129,953	92,304	73,648	62,587	55,322
2,730,000	244,477	130,431	92,643	73,918	62,817	55,525
2,740,000	245,373	130,909	92,983	74,189	63,047	55,729
2,750,000	246,268	131,387	93,322	74,460	63,277	55,932
2,760,000	247,164	131,865	93,661	74,731	63,507	56,136
2,770,000	248,059	132,342	94,001	75,001	63,737	56,339
2,780,000	248,955	132,820	94,340	75,272	63,967	56,542
2,790,000	249,850	133,298	94,679	75,543	64,197	56,746
2,800,000	250,746	133,776	95,019	75,814	64,428	56,949
2,810,000	251,641	134,253	95,358	76,084	64,658	57,152
2,820,000	252,537	134,731	95,698	76,355	64,888	57,356
2,830,000	253,432	135,209	96,037	76,626	65,118	57,559
2,840,000	254,328	135,687	96,376	76,897	65,348	57,763
2,850,000	255,223	136,164	96,716	77,168	65,578	57,966
2,860,000	256,119	136,642	97,055	77,438	65,808	58,169
2,870,000	257,014	137,120	97,394	77,709	66,038	58,373
2,880,000	257,910	137,598	97,734	77,980	66,268	58,576
2,890,000	258,805	138,076	98,073	78,251	66,498	58,780
2,900,000	259,701	138,553	98,412	78,521	66,729	58,983
2,910,000	260,596	139,031	98,752	78,792	66,959	59,186
2,920,000	261,492	139,509	99,091	79,063	67,189	59,390
2,930,000	262,387	139,987	99,430	79,334	67,419	59,593
2,940,000	263,283	140,464	99,770	79,604	67,649	59,797
2,950,000	264,178	140,942	100,109	79,875	67,879	60,000
2,960,000	265,074	141,420	100,448	80,146	68,109	60,203
2,970,000	265,970	141,898	100,788	80,417	68,339	60,407
2,980,000	266,865	142,376	101,127	80,687	68,569	60,610
2,990,000	267,761	142,853	101,467	80,958	68,799	60,813
3,000,000	268,656	143,331	101,806	81,229	69,030	61,017

The world of cryptocurrency is known for its volatility and uncertainty, making it a high-risk investment. However, some crypto enthusiasts have found ways to mitigate these risks by earning a minimum income. Nowadays, trading platforms are slowly introducing crypto as the primary form of day trading, including platforms like Bitcode Method. In this article, we will explore the benefits of having a minimum income for crypto investors.

 Steady Income Provides Stability

One of the significant advantages of having a minimum income for crypto investors is the stability it provides. With a steady income, investors can rest easy knowing they have a reliable source of funds to cover their daily expenses. This stability can help investors make better decisions with their crypto investments, as they are not forced to make rash decisions to cover their expenses.

    Allows for Long-Term Investment

Having a minimum income can allow investors to take a long-term approach to their crypto investments. Instead of focusing on short-term gains, investors can afford to hold onto their assets and wait for the market to recover. This approach can be beneficial for crypto investors, as the crypto market tends to be highly volatile, with prices fluctuating rapidly.

    Provides Opportunities for Diversification

Another benefit of having a minimum income is that it allows for opportunities to diversify an investor’s portfolio. Investors with a steady income can afford to invest in multiple cryptocurrencies, spreading their risk across different assets. This diversification can help investors mitigate the risks of the crypto market and potentially earn higher returns.

    Reduces the Need for Leverage

Investors who do not have a steady income may be forced to use leverage to invest in cryptocurrencies. Leverage involves borrowing money to invest in assets, which can magnify gains but also increases the risk of losses. With a minimum income, investors can avoid the need for leverage and invest in cryptocurrencies using their own funds.

    Encourages Responsible Investing

Having a minimum income can also encourage responsible investing. When investors know they have a steady income to rely on, they are less likely to take excessive risks with their crypto investments. This responsible approach to investing can help investors avoid costly mistakes and potentially earn higher returns over the long term.

    Provides Peace of Mind

Finally, having a minimum income can provide peace of mind for crypto investors. Knowing that they have a reliable source of income can reduce stress and anxiety associated with crypto investing. This peace of mind can help investors make better decisions and avoid emotional trading, which can be detrimental to their portfolios.

Additionally, having a minimum income can also help investors take advantage of buying opportunities in the crypto market. During market downturns, prices of cryptocurrencies tend to drop, presenting investors with opportunities to buy assets at discounted prices. However, investors without a steady income may be unable to take advantage of these opportunities due to financial constraints. With a minimum income, investors can be well-positioned to take advantage of buying opportunities and potentially earn higher returns in the future.

Moreover, having a minimum income can also improve an investor’s credit score, which can be beneficial for their financial future. Consistently earning a minimum income shows lenders that the investor has a reliable source of funds to cover their expenses and debts. This can help improve an investor’s credit score, making it easier to secure loans and access other financial opportunities in the future.

Lastly, having a minimum income can also provide a sense of financial security, allowing investors to pursue their passions and interests outside of the crypto market. Whether it’s traveling, starting a business, or pursuing further education, having a steady income can provide the financial stability needed to pursue these endeavors without worrying about the impact on their crypto investments.

Conclusion

In conclusion, having a minimum income can provide numerous benefits for crypto investors. From providing stability and opportunities for diversification to encouraging responsible investing and providing peace of mind, a minimum income can help investors navigate the highly volatile world of cryptocurrency with confidence. Whether you are a seasoned investor or just starting, considering a minimum income can be a wise decision that can help you achieve your financial goals in the long term.

In addition, a minimum income can provide numerous benefits for crypto investors, including stability, opportunities for diversification, reduced reliance on leverage, responsible investing, peace of mind, and the ability to take advantage of buying opportunities. As such, investors should consider a minimum income as a key part of their investment strategy to achieve their financial goals over the long term.

More than 8,000 children under three years of age are benefiting from a Sh80 million cash transfer programme being piloted in three counties.

The one year programme, dubbed Universal Child Benefit (UCB) is being piloted in the most populous sub-counties of Kisumu, Embu and Kajiado counties.

An assistant Director for Children Services in the state department of Social protection, senior citizens affairs and special programmes Peter Ombasa said the 8,265 children drawn from all households in the three counties have been receiving Sh800 per child per month, since the inception of the programme in December 2021.

Ombasa further said the programme which was being piloted by United Nations International Children’s Emergency Fund (UNICEF) in collaboration with Save the Children organization, World Food Programme and the Kenyan government is set to expire in December 2022.

While noting that every child had a constitutional right to social protection, the Director emphasized the need for improving children outcomes such as good nutrition, health and education which he said the UCB programme was guaranteeing.

He argued that children as future generation was any nation’s investment which if well taken care of, gives high returns and boosts the country’s human capital development.

While speaking during a media engagement workshop, Ombasa said the programme was designed to be shock responsive to children in vulnerable households to help increase their resilience and also offer a platform for delivery of emergency cash when needed.

The programme if well implemented across the country, he said would contribute to an inclusive economic growth by reducing the existing social inequalities and strengthening social cohesion among communities.

The pilot programme which is funded by UNICEF is expected to be handed over to the government for continuity and up scaling after its expiry this December.

The government has announced plans to channel the much awaited Hustler funds through the Cooperative SACCOs to facilitate sustainability and compliance to regulations set for the revolving kitty.

Cooperatives and MSME development Cabinet Secretary Simon Chelugui said the SACCOs were expected to play a critical role in mobilizing Kenyans to embrace a saving culture and act as an intermediate in accelerating financial inclusion and empowerment to the millions of creditors left out of mainstream financial lenders.

Speaking during a consultative meeting with the leadership of cooperatives under the Cooperatives Alliance of Kenya (CAK), the CS said that cooperative movement was touted by the current administration to spur economic growth through of small business under the bottom –up model.

“The most important emergent key economic policy intervention for the new administration is the financial empowerment to accelerate growth at lower levels by creating access to credit facilities under the ‘Hustler’ Fund”

He noted that President William Ruto’s intention was to enable Kenyans at the bottom of the pyramid to access affordable and timely credit facilities since most of them were previously locked out of such facilities because they lacked collaterals to secure loans from mainstream financial institutions.

ABOUT THE HUSTLERS FUND

1. What is the Hustler fund?

• The Hustler fund is a digital financial inclusion initiative designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) in Kenya.
• The fund brings you credit to where you are – transforms credit into “credit on the go.”

 

2. Which legal instruments allow its operationalization?

The Hustler fund is a creation of the draft Public Finance Management (Financial

Inclusion Fund) Regulations, 2022.

 

3. Why is the Hustler fund important?

• The Hustler fundis important because it provides access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) by innovating, developing, and deploying bottom-of-the-pyramid financial services and products that are affordable, accessible, and appropriate for the unserved and underserved persons, including credit, saving, insurance, pension, and investment products.
• It is envisaged that the fund will help to improve financial access and reduce poverty.

 

4. How does the Hustler fund work?

The Hustler fund will work in two ways:

1. By providing a digital platform where people find the best deals on financial products; secondly,
2. By developing a series of digital tools and resources to help people understand and manage their finances better.

 

5. How do I access the Hustler fund?

The Hustler fund is accessible through the USSD and mobile APP platforms of any of the Mobile Network Operators in Kenya.

 

6. When willthe Hustler fund be launched?

The first installment of this fund is the Personal Finance product, which will be launched on November 30, 2022.

 

PRODUCTS AND PRODUCT FEATURES

1. What products are available under the Hustler fund?

There are four products available under the Hustler fund, these include:

• Personal Finance – (KSh 500 to KSh. 50,000 depending on your scoring)
• Micro Loans
• SME Loans and
• Start Up

The first installment of this fund is the Personal Finance product, which will be launched on November 30, 2022.

 

2. How do I know which product is appropriate for me?

• When you visit the Hustler fund website, you will be able to see different available products.
• Each product has a description of what it is for and whom it is designed to help.
• You can also read reviews from other users to get an idea of what they thought about the product before making your decision.

 

3. What are the product features of the personal finance loan?

• The loan limits for this product will be a minimum of KSh. 500 up to a maximum that will be determined by the borrower’s credit score and capped at KSh. 50,000.00.
• The increase in limit will be dependent on the individual customer’s performance on consistent loan borrowing and repayment on time
• The limit shall be reviewed and adjusted based on the borrowing and repayment history of previous Hustler Fund loans taken.

 

4. What is the interest charge on the personal loan?

The loan interest rate is capped at 8% per annum computed on a pro-rated basis.

 

5. What should I expect when I borrow?

• Approved loan will be disbursed to your Mobile Money account
• Out of the total approved loan amount, on disbursement 95% shall be deposited to your Mobile Money wallet, and the remaining 5% shall be deposited to your savings account scheme of the fund
• 5% of your loan will go into a savings scheme
• The savings scheme will split savings into 70% long-term and 30% short term savings i.e., 70% of the 5% will go into long term (Pension) and 30% of the 5% will go into short term

Example: Customer borrows KSh 1,000

• KSh 50 (5% *1,000) will go into their savings account as below
• KSh 35 (70% *50) – Will go to Pension account
• KSh 15 (30% * 50) – Will go to short term savings account

 

6. Does the loan have a processing fee, or you get the full amount?

• There is no processing Fee
• Out of the total approved loan amount, on disbursement 95% shall be deposited to your Mobile Money wallet, and the remaining 5% shall be deposited to your savings account scheme of the fund

7. If I borrowed erroneously, can the amount be reversed?

No reversal: customer will just have to repay the loan

8. How do I repay my Loan?

Loan repayment will be made from your Mobile Money account i.e., Self-payment

9. Can I change my number and transfer the loan to a new number?

No, you cannot.

10. Will the loan automatically clear other loan obligations I have on the phone?

No, it will not.

 

 

 

ELIGIBILITY AND REGISTRATION PROCESS

 

1. How do I know if I am eligible to access any of the products?

• Must be a Kenyan citizen of 18 years of age and above
• Must have a valid national Identification Card (ID)
• Must have a registered mobile number from a recognized Mobile Network Operator in Kenya i.e., either Airtel, Safaricom or Telkom
• e., either Airtel, Safaricom or Telkom
• Have a mobile money account i.e., either Airtel Money/M-PESA/T-Kash
• The SIM card in question can/ will only be eligible if it has been in use for more than 90 days.
• Reside and conduct economic activities in Kenya.
• Provide the Location of residence during the onboarding process (where applicable)

 

2. How can I register an account on the platform?

The customer is required to:

• Sign up for the Hustler Fund platform by dialling *USSD code# or through the mobile app.
• Accept the Terms and Conditions to join the Fund
• Enter Mobile Money Pin
• Upon fulfillment of steps 1-3, an SMS will be sent to notify them of their successful registration and the limit assignment.
• In the event of a failed registration, the borrower will be notified via SMS

 

3. Can I register more than one mobile number?

• You can only register one number into the Hustler Fund i.e., the customer can only opt-in once with a unique identifier as National ID
• If you need to register another number, you will need to opt outof the current line

4. What happens if you lose your mobile phone and have a Hustler Fund account?

• Your money is safe because your Hustler Fund account is protected by your Mobile Money PIN.
• Once you replace your SIM card at your Mobile Network Operator outlet, you will be able to access your Hustler Fund account using your current Mobile Money PIN.

 

5. After a SIM swap, will your line pick the Hustler Fund account you had on a previous line, or do you have to opt-in again?

• You do not need to opt-in again

 

LOAN APPLICATION, PROCESSING, DISBURSEMENT, AND REPAYMENT

1. How do I apply for a loan?

Once registered and loan limits assigned, the customer is required to follow the application steps to access the loan:

• Dial USSD code *USSD code# or mobile application.
• Select the loan request option to view the limit, interest, and loan tenure.
• Enter the loan amount and press OK to continue
• Confirm loan details as displayed to continue
• Enter Mobile Money pin
• Receive SMS notifications on Loan allocation with relevant loan information.

 

2. What does loan processing entail?

Once the customer has successfully applied and has received an SMS notification regarding loan information, back-office loan processing takes place in the following steps:

• Loan Appraisal – The application will be subjected to the predetermined formula based on existing qualification parameters
• Loan Approval- Approval shall be granted based on meeting eligibility criteria, credit worthiness.

 

3. How will my loan be disbursed?

• Upon approval, the loanwill be disbursed to the borrower’s mobile wallet.
• Out of the total approved loan, 95% shall be disbursed to the mobile wallet of the borrower, 5% channeled to the savings Scheme.

 

4. How long is the loan repayment period?

• The loan repayment period shall be 14 days with an interest of 8% per annum.

Let us put an example – if a customer borrows Kshs 1,000, he will receive Kshs. 950.

In 14 days, the customer will be expected to pay back –

• The borrower may re-pay the loan as a lump sum or in part provided that the full repayment is done within 14days.

 

5. What happens if I don’t pay on time?

If the loan is not repaid within the stipulated 14 days, the customer’s credit ratingis negatively affected. However, if the loan is paid in full, the loan contract is closed, and the customer can request another loan. All transaction notifications to the customer will be by SMS.

 

6. Can I get more than one Loan?

• You can only get one loan at a time and qualify for another loan if you Pay your loan in full
• Qualified borrowers are eligible for only one loan at a time hence multiple loan borrowing on varied networks is therefore prohibited.

 

7. How can I increase my loan limit?

• Continue using Hustler Fund and pay your loan on time
• Also, assessment of credit history on subsequent loan applications and repayment shall apply to determine subsequent qualifications for the facility.

 

 

 

LOAN RECOVERY & COLLECTION MANAGEMENT

1. What is the Loan Recovery & Collection Management process?

This will involve monitoring and evaluation of the facility disbursed and repaid to identify the level of portfolio risks, the following initiatives will be adopted for loan recovery and management.

• The borrower will be notified of the due date and outstanding amount 5 days prior via SMS.
• On the thirtieth day of the facility, the customer is notified that the facility is due.
• One day after the thirtieth day, the borrower is notified that the facility is now overdue.
• After the due date, the borrower shall not be eligible to apply for any other facility with the Fund until the outstanding loan is fully paid.
• Overdue reminders shall be sent every 5 days up to a maximum of 30 days.

 

2. How do I check my Loan Balance?

• Via USSD dial *254#
• Select Loans
• Check Loan Status
• Select Loan balance
• Enter Mobile Money PIN
• You will receive an SMS message with your Loan balance

 

On App

• This will be displayed on the Hustler Fund app with an option to hide or unhide

 

3. Can I pay the loan in part?

• The borrower may re-pay the loan in full or in part provided that the full repayment is done within 14 days.

 

4. Are there penalties in case of default for the personal finance loan?

• 15 days after the date of default the interest rate will be adjusted to 9.5% per annum.
• Thereafter persistent default spanning 30 days and over will see you lose your existing credit score and your account frozen.
• Interest continues to accrue pegged on the in-duplum rule and recovery methods will be initiated.

 

5. Is it true that customers will be charged KSh 10 million for default?

No. This charge is a penalty to the fund administrators from abusing the monies set aside for the beneficiaries of the fund.

 

 

 

SAVINGS FACILITY

 

1. What are the benefits of saving in the Hustler Fund?

• Customers will earn interest of up to 9% p.a. on their short-term savings balance
• Government will match contribution on a 2:1 ratio up to a maximum of Ksh.6,000 per annum

 

2. How can I save into Hustler Fund?

Two ways of savings

• When you request a loan
• Deposit /sending directly to your savings from your Mobile Money wallet

Please note in both instances the 70% and 30% split will apply i.e., 70% of the amount will be deposited into long-term savings (pension scheme) and 30% into short-term savings

 

3. Can I withdraw/access my savings immediately?

• Customer can only access the short-term savings
• To access your short-term savings:
• Customer must have cleared repaying their full loan or
• Repay 30% of the loan borrowed
• Example: If Customer borrowed KSh 1,000, they should have repaid KSh 300 (30%*1,000)

 

4. What percentage of my loan will go to my Savings?

• 5% of your loan will go into your Savings as below:
• 70% of the 5% will go into long term Savings (Pension) and 30% of the 5% will go into short term savings
• g., if you borrow KSh 1,000 KSh 50 i.e. (5% *1,000) will go into your savings as below
• KSh 35 (70% *50) – Will go to your pension account that is within the Hustler Fund
• KSh 15 (30% * 50) – Will go into your short-term savings account that is within the Hustler Fund

 

5. How do I check my savings balance?

Using USSD:

• Customer will dial *254#
• Select the option for Savings
• Select Check Balance
• Enter Mobile Money PIN
• You will receive an SMS message with your Loan balance

 

On App

• This will be displayed on the Hustler Fund app with an option to hide or unhide

 

6. Will I get a statement?

• You will get a mini statement that shows the last 5 transactions
• You can access this either through the App or USSD under savings

 

7. Can I opt-outof Hustler Fund?

• You can opt-out of the Hustler funds loan, but you will still have the option to continue saving on the service

 

8. How many times can you deposit money into your Savings account?

• You can do any number of deposits into your savings

 

9. What is the minimum and maximum amount that you can deposit as savings?

• You can deposit any amount into your savings

 

10. How many times can I withdraw from my savings?

• No limit on the number of times you can withdraw so long as you have the amount available

 

11. What will happen to my savings if I opt out?

• Your savings will still be available, and you will be able to view and continue saving.

12. Which Pension Scheme will the customer be put into?

The Kenya National Entrepreneurs Savings Trust (KNEST)

 

13. At what age will the customer access the pension funds?

The age at which you can access your pension will depend on the type of scheme you are paying into. (The technical team to guide on the pension product features.)

 

This document was prepared by:-

	NAME	INSTITUTION
1.	Anne Kago	Sacco Societies Regulatory Authority
2.	Goldermier Opiyo	Airtel Kenya
3.	Nick Kariuki	Airtel Kenya
4.	Cynthia Ogutu	Airtel Kenya
5.	Everlyn Nyambura	Safaricom PLC
6.	Stella Kieleko	Safaricom PLC
7.	Violet Onyango	Safaricom PLC
8.	Claire Munene	Telkom Kenya
9.	Wanjiku Gicheru	Micro and Small Enterprises Authority
10.	Nduta Waweru	KCB Group

 

Introduction

Blockchain technology is integral to the financial world, but its potential goes beyond that. It’s already permeating the political and legal spheres. It raises questions about the role of centralized technology in various organizations. If you want to start trading bitcoin, use the profit-maximizer.app trading platform.

Artistic creations

A blockchain can host smart contracts that artists can use to manage their digital rights and allocate revenue shares. These contracts can replace conventional agreements that are often esoteric and leave the creator of a bit of artwork control over its terms. This could create a more transparent and dynamic marketplace that rewards artists and provides fair compensation to all parties involved in the creative process. One example of a service that artists could use is PeerTracks, which attaches an intelligent contract to every song it uploads to YouTube and distributes revenue to artists according to the terms of the agreement.

Another example is Async Art, an online art marketplace powered by blockchain technology. The platform is backed by the Fair Trade Art certification from Verisart and will return all sales proceeds to the artists. Furthermore, it will charge no commission. The first 25 artists on the platform include Mark Titchner, Duggie Fields, Penny Slinger, and Derek Boshier. The company has partnered with blockchain companies such as Blockchain.

License issues

The emergence of cryptocurrency and blockchain technology has raised several issues regarding licenses. While a permit can be granted to anyone, it can also be limited to specific uses. For example, if a person wishes to sell their cryptocurrency, they must have a seller’s license. It can also be prohibited to use blockchain technology to sell raffle tickets. In California, two primary laws govern the use of blockchain technology, one of which is Assembly Bill 2658, passed by the state legislature in September 2018.

While the SEC and the NY State Department of Financial Services have raised concerns about cryptocurrency and Blockchain technology, a number of state and federal regulatory bodies are working to create regulations that will help ensure the industry stays out of trouble. For example, the New York State Department of Financial Services has developed a comprehensive regulatory framework for virtual currency businesses, known as BitLicense. These regulations require companies to follow strict compliance and supervisory policies and cybersecurity programs.

Expanding access to financial services

Blockchain technology has many benefits for consumers, but a key one is its ability to reduce costs and increase efficiency in the financial services industry. By eliminating intermediaries, such as banks and financial institutions, Blockchain can cut transaction costs while improving consumer security. In addition, it could reduce the volume of transactions, which in turn could reduce fees. As a result, it has the potential to expand access to financial services for a broader range of consumers.

Despite these benefits, one major challenge to implementing blockchain technology in financial services is that it has not yet been regulated. Many companies are still in the process of identifying how it can be used in financial services. Regulators must address the risk associated with the technology and its potential benefits and drawbacks. While some companies have embraced the technology, others are concerned that the technology may lead to negative consumer consequences. Some people are worried that it will undermine the financial system’s integrity.

Conclusion

Blockchain technology is changing the way people interact with content. Instead of intermediaries like traditional record labels or telecommunication companies, it creates a network connecting creators directly to consumers. This allows creators to receive all of the financial upsides of their work. For example, music streaming services now share about ten percent of their revenue with artists, while purchasing platforms only pay a four to six percent transaction fee.

While cryptocurrency and art may seem lightyears apart, the two worlds are related. Many people from one side may not know the other, but this new technology is creating a more diverse environment. Women and Black communities, for example, have long faced barriers to participating in traditional financial markets. This increased diversity in cryptocurrency signals a high need for financial education. Cryptocurrency offers a unique and valuable niche market for digital artists.

Laura Shin, a former Forbes senior editor, was one of the first mainstream journalists to cover crypto full-time. She wrote a book on the rise of Ethereum and hosted a popular podcast Unchained. Her podcast has received over fifteen million views and downloads.

Blockchain technology has the potential to improve the global financial infrastructure. It can help transfer assets more efficiently and reduce labor costs. Blockchain can also reduce the risk of fraud.