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How Blockchain can help ‘Boycott China’ (‘Anywhere but China’) movement?

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china blockchain

Following is a biased opinion.

Much like organic food or cruelty free produce or GMO free meats movements, we might see ‘Anywhere but China’ and ‘China Distancing’ movements in the coming months/years.  

When customers insist on buying ‘anywhere but China’, can they trust the label that says whether something is made in China or not?

We have seen companies make use of the loopholes in the law to mislead customers. Trusting a company whose primary motive is profit and governments who care more about taxes and employment than anything is rather futile.

Companies have ‘re-routed’ the supply chain to mislead folks into buying things made in one country believing them to have been made in another.

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With the world owing 5-6 Trillion dollars in debt to China, they have the muscle to bend the laws to their will in many countries, in our opinion.

In this situation, if ‘China distancing’ and ‘anywhere but China’ becomes a thing – how can customers ensure that they are not being duped?

The US was duped by China before to avoid tariffs

“A growing number of Chinese companies are adopting a crafty way to evade President Donald Trump’s tariffs: remove the “Made in China” label by shifting production to countries such as Vietnam, Serbia and Mexico,” reported Industry Week.  (To be fair, the US has used the Canada route to avoid China tariffs as well). 

This was even before the COVID pandemic and now that people are demanding that China pay one way or another, we expect the demands to boycott China made products will catch some steam. To avoid backlash from the global consumers and 

Chinese products with other country tags

china fakeAs it is evident that countries will not hesitate to cheat each other for the sake of ‘commerce’, there is no question that if the consumers demand products produced outside of China, companies with manufacturing units in China will find ways to route the products ‘via’ some other countries and dupe the consumers into believing that they are buying non-China made product.

We cannot rely on governments, companies or manufacturers to get the honest information.

That is where a trustless truth machine, Blockchain, can help.

Once you log in the source of raw materials, its journey can be tracked to see where they end up.  

Blockchain can bring the transparency (it already does)

TransaparencyIn 2019, the US Air Force chose SIMBA Chain to help with tracking the complex supply chain aspects. The Press Release states “The Air Force uses a complex supply chain to equip and repair forward-deployed forces and SIMBA Chain will play a key role in securing that chain. Long value chains are among the biggest security issue in manufacturing for Industry 4.0. This is the case for all manufacturing but is especially critical in military applications, where hostile entities would attempt to obtain or modify critical data.”

In April 2020, in the midst of COVID pandemic, Rep. Stephen Lynch introduced a bill in congress to create a National Emergency Biodefense Network that tracks the status of PPE supplies across the nation.  The interesting thing about this bill is it leans on Blockchain ‘as a single source of truth.’ According to Forbes, the “new bill…establishes a blockchain network across the entire U.S. to monitor medical supplies in the Strategic National Stockpile (SNS) and all 50 states.”

As you can see, Blockchain is already viewed as a reliable technology to act as a ‘single source of truth’.

Blockchain can help track percentage of a unit made in China

Let’s take an example of a car.  While the car may be ‘built’ in the USA, every single component that goes into ‘building’ the car may have been made in China or other countries.  How can you say how much of the car is really US made?

Blockchain can track every unit, piece, bolt that goes into the car and provide the information to the customers with a click of a button.  Traditional systems cannot provide this information to the end users without jumping the hoops.

Walmart used Blockchain to track the food supply chain and found that what would have taken them weeks or more can be traced in minutes with the supply chain on the blockchain.

Blockchain can help track the journey of a product from the mine to the hands of the customer. The infrastructure is in works and soon we might see that blockchain becomes an integral part of supply chain and transparency becomes an assumed reality.

China knows blockchain is a threat to ‘deceipt’ – so its building its own blockchain

china deceptingChina seems to be ahead of other nations about thinking through into the future.  They know that as the demand to boycott China products catches steam – companies will be forced to rely on technologies like Blockchain to provide transparency to its customers.

China may be building the world’s biggest blockchain network with BSN (Blockchain Services Network) that already includes 100 city nodes and has onboarded McDonald’s, Starbucks, Subway etc., to test their pilot Digital Yuen project.

The problem with this specific BSN blockchain is that it is centralized to the extent that data can be manipulated and users will not be privy to the changes.

This totally defeats the ‘trustless transparency’ aspect of blockchain.

It is important that customers not only demand transparency but also on the sources of information about that transparency.

Not any blockchain, it has to be a public blockchain

Given the issues with overly centralized blockchain systems (which pose the similar issues as the existing traditional systems), we will need a global public blockchain to provide the trustless transparency.

Companies may end up creating a bridge between public and private blockchains to create a hybrid that provides required transparency to the customers without losing the business secrets.

Existing public blockchains like Bitcoin and Ethereum face serious scalability issues, however, ramps are being built to address the scalability aspects. There are many supply chain blockchains in the market.

Most notably, VeChain has already been making strides in the space with partnerships with WalMart, DNV GL, PwC, BMW, LVMH, and a host of other partnerships.

The success of VeChain and similar companies is an indication of how blockchain is bringing efficiencies in the supply chain for the companies, helping them save millions of dollars while providing transparency to customers at no additional cost.

Talk about killing two birds with one stone!

Thank you for reading and sharing this article. Stay safe and healthy!

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

Continue Reading

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Crypto Roundup: All Your YouTube Influencers in One Place

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on

crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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