Angelo Babb explains the different type of digital currencies available to consumers
Cryptocurrency expert Angelo Babb offers insight into the difference between digital currencies and cryptocurrencies, and the roles they play in consumer finance.
San José, Costa Rica – WEBWIRE – Sunday, September 25, 2022
It is easy to create your own digital currency today. Despite the potential benefits and risks, there is still confusion around the terminology of money. Angelo Babb is a specialist in cryptocurrencies and clarifies the differences between virtual money, digital money and cryptocurrency.
Although digital money, virtual currency and cryptocurrency are often used interchangeably, these terms are not interchangeable. It is important that you understand that a cryptocurrency is not always a crypto currency, and vice versa, that virtual currencies and cryptocurrencies are always digital currencies.
Digital currency is created and controlled by its developers. It can be used and accepted by members of any community that recognizes it as valid. You can use digital currencies to purchase gift vouchers, airline rewards points and cashback for your credit card purchases.
Babb clarifies that these digital monies share the same trait in that they operate as a medium for exchange that functions as a currency within their own context. However, they dont have the attributes that a real currency unless they are issued by a central banking institution such as the Ecuadorian dollar digital currency.
It is interesting to note that cash only represents 8% of all money in circulation. Therefore, everything else is almost identical to digital money. Virtual currency, on the other hand, is the term for virtual currencies that are used in online games like Clash Royale and League of Legends. These coins have no value outside of the game. They are an incentive to play more so you can make in-app purchases or exchange them with other players.
These currencies can be used to exchange money in a virtual world. Babb explains that they can also be associated with Internet platforms in certain instances and are limited to members of a particular virtual community. Exito Points and RappiCreditos are two examples. These virtual currencies are worth something, but they are linked to a virtual economy platform. They do not exist in physical form.
A cryptocurrency is built on cryptography principles to offer a secure medium for exchange. This cryptocurrency is generally not supported by any central bank, government or commodity. However, because it is based on Blockchain technology, it can be used to store and exchange value as well as a currency.
These are often established on a peer-to-peer network of people and are best illustrated by Bitcoin (BTC). Although cryptocurrencies can be considered a type of digital currency, they differ from traditional currencies in that they do not have an official currency. They are also not subject to central control as virtual currencies.
While virtual and digital money have been around for many decades, cryptocurrencies are relatively new. BTC is a cryptocurrency, which does not have an issuer and can be cryptographically protected. In principle, their consistency can also be protected through a large and distributed verification of users.
Cryptocurrencies are digital and virtual money. They are distributed and not controlled by a central authority like other virtual currencies. Instead, they are decentralized and based upon cryptography to protect against manipulation by their members.
All cryptocurrencies can be referred to as virtual and digital money. However, this is not true for vice versa. Digital money can refer to any currency around the globe (including the euro and dollar), but virtual currency may be referring to a currency that has a specific issuer. It is important that terms are understood and used correctly in the future.
About Angelo Babb
Angelo Babb is a legal cryptocurrency and blockchain consultant who helps new and established organizations strengthen their interaction with digital assets. A certified lawyer and Scrum Master, he works with all categories of enterprises to ensure cryptocurrency endeavors substantially fulfill their obligations. When hes not reinforcing his education in the cryptocurrency and blockchain spaces, Babb enjoys relaxing on the beach with his family.
San José, Costa Rica – WEBWIRE – Friday, August 19, 2022 Rumors of a slowdown, or even an economic downturn, are becoming increasingly real. In certain parts of the world, it is perceived that this is already happening, and in Europe, it is perceived as less immediate but deeper. However, in Latin America, despite the strong inflation experienced by countries, the IMF forecasts economic growth for Latin America. This could prove beneficial for those who purchase and hold cryptocurrencies, and cryptocurrency expert Angelo Babb discusses why.
So far this year, anxiety has been unleashed among investors. While in those who have not yet started their way in the world of investments, curiosity. It should not be forgotten that cryptocurrencies began operating twelve years ago. Therefore, like any new market, it is still in the process of adjustment.
Countries such as the UK and the US are planning to take some measures for this market more strictly. Even since last year. However, after what happened this year, the forces to regulate it have been accelerated.
For example, in June, a detailed bill was presented to the US Congress that seeks to establish supervision and sanctions for brokers that operate with cryptocurrencies, as well as seeks the creation of regulations regarding even the energy used in the mining of cryptocurrencies. The so-called stablecoins are part of that adjustment, as they aim to link directly to a stable asset or a basket of assets.
Explains Babb, Like any novelty, within the financial market, investments in cryptocurrencies expanded a lot around the world. Perhaps, it is one of the markets that turns out to be more accessible while there are shops that accept these virtual currencies as a means of payment in commerce and services.
During its young age, about six hundred cryptocurrencies have been created in this market. Of these, there are some such as Bitmart, Coincheck, and many others that, during the last months, have been declared as without solvency. However, there are others such as Binance, Coinbase and Kraken that have grown their position and compete against the first digital currency, Bitcoin.
Within this scenario, the cryptocurrency Ripple is a clear sign of how part of the cryptocurrencies are adjusting to the nascent regulations of governments based on their operating principle, the blockchain. Today, Ripple exchanges virtual currencies and allows their international transfer. So even today, it is foreseen as an alternative that could replace the SWIFT system.
Cryptocurrency transactions require the exchange to be verified to be added to the blockchain record. Proof of the confidence in this system, Banco Santander is one of the first banks that has joined the RippleNet network to carry out operations quickly and transparently.
It is irrefutable that the cryptocurrency market is in incipient development, adds Babb. Despite the contemptuous statements on the part of some tycoons, the truth is that this market has a lot of credibility among millennial and centennial generations because they perceive it as more democratic and transparent compared to others.
In the absence of a central point of control, the chances of it being corrupted in a single power or nucleus are lower, and it will continue to be so as long as there are still various currencies, brokers and lenders to brokers that mobilize it.
Regarding what has happened in the cryptocurrency market, large and small investors have withdrawn their investments. Others wonder about when to save and when to invest. In addition, a few, with capital to cover possible losses, have decided to keep them or even buy more, taking advantage of their low prices.
About Angelo Babb
Angelo Babb is a legal cryptocurrency and blockchain consultant who helps new and established organizations strengthen their interaction with digital assets. A certified lawyer and Scrum Master, he works with all categories of enterprises to ensure cryptocurrency endeavors substantially fulfill their obligations. When hes not reinforcing his education in the cryptocurrency and blockchain spaces, Babb enjoys relaxing on the beach with his family.
San José, Costa Rica – WEBWIRE – Saturday, July 30, 2022 Business process analysis is one of the most effective techniques to review the fulfillment of the organizations objectives. Through this resource, companies have the opportunity to assess whether business processes are being fully executed and in line with achieving the goals stipulated in advance. JD Duarte, an entrepreneur and business expert from Costa Rica, provides insight into the importance of business process analysis.
To change something in your company, you must first start by understanding what you want to change. Thanks to the implementation of business process analysis, you will be able to know and channel the different inconveniences that appear within the operation of the corporation. These drawbacks, although avoidable, can muddy the performance of pending tasks and the achievement of business objectives. So do not hesitate to apply this analysis process.
Business process analysis, or Business Process Modeling (BPM), is an efficient method that allows you to understand in greater depth the details of a business process and lead you to perfect it. According to the ABPMP International portal, it is a disciplined approach to identifying, measuring, and controlling business processes that will achieve consistent and targeted results aligned with an organizations strategic objectives.
Within business analysis, parameters that affect each process can be evaluated, such as time, capacity, quality and cost involved in each process. It is a collection of data from the beginning of the process to the end of the activities.
However, the collection alone is not enough. This information must also be interpreted. Duarte states, Make decisions with data; understanding what data is valuable and how to interpret it is a skill. But using that data in your day-to-day to make complex decisions is definitely an art.
This business process analysis is essential to be able to evaluate each part of the process and identify their interaction with each other to produce results. This technique is part of the business process management model, which is carried out cyclically. It has different phases, while operating continuously and sequentially. This point allows it to be constantly renewed and improved, which will have an impact on a better experience for the company and the customer in particular.
In the analysis of business processes, you can evaluate different data that allow you to monitor and trace the reality of the computer processes of your venture. Of course, within the analysis, you can find errors or elements that require improvement.
For companies, these strategic processes are important to improve business efficiency, which means that analyzing a process identifies, defines and communicates the entire internal workings of the company. Business process analysis is a critical factor for the organization of the company, since if a risk process is not evaluated in time, it can be detrimental to the future commercial success of the company, adds Duarte.
Up to this point, you are aware that the procedure of analyzing business processes ensures regular improvement of workflows. Thanks to this system, it is possible to review, analyze and fix all those actions that require it.
For business process analytics to work seamlessly and bring about truly positive change for your company, it needs to be done consistently and continuously. Interferences and inconveniences (both internal and external) appear regularly to alter the initial planning.
Within each company there are multiple processes, some longer than others. Short internal processes are easier to monitor, but it is essential that you also monitor those that are more extensive, as they are usually essential for the future of the company.
The idea is that you are able to establish which processes are the most important that you must analyze at that precise moment and how you will establish the order in which you will carry out the analysis. You can choose one that you consider needs improvement or that may have flaws in its operation.
About Jose Daniel Duarte
JD Duarte is originally from Heredia, Costa Rica. He has been an entrepreneur and business owner for more than 20 years, and divides his time between his existing operations and researching new possibilities in which to invest. When hes not dedicating time to his businesses, he spends time with his supporting wife and two children.
Québec, Canada – WEBWIRE – Saturday, July 30, 2022 In a changing and dynamic business environment, finding a leader who dares to take risks and thinks ahead can be the key to success. This is what transformational leadership is all about. Allen Woo, a specialist in optimizing the work environment, explains why a transformational leader can be a key player in improving the workplace.
Transformational leadership is a method designed to foster change and creativity. It is a process that seeks to influence, guide and direct the members of a company to follow their leader voluntarily. The key lies in the commitment to achieve business objectives.
The role of the leader within companies has been essential to ensure the effectiveness and smooth running of all areas of the company. The leader is in charge of guiding the whole team in the same direction in order to achieve the set objectives together.
Traditionally, the leader has been understood as a boss, but paradigms have changed, and theorists and companies are looking for a new style of leadership, explains Woo. This new leader must be able to transform the companys philosophy toward new and more effective ways of thinking.
The transformational leader must not only drive change, but also sow the seeds of reasoning in his or her team so that everyone can understand the decisions being made within the company. This involves, for example, implementing career and job training plans.
The figure of the leader must be understood as an example to follow and an inspiration for the team to improve day by day and dare to face new challenges. The whole group must feel that they are in a highly motivating and stimulating environment, which is directly inspired by the figure and attitude of the leader in the work environment.
The performance of the workers increases notably, since they tend to do their best to achieve the objectives proposed by the leader and by the organization in general. Having a high rate of inspiration and motivation on the part of the leaders makes the team capable of responding to the needs of the organizations, which tend to be increasingly complex.
The workforce significantly increases its flexibility and therefore adapts better to change and works effectively under high levels of pressure. Transformational leadership has a positive impact on employee self-esteem as the leaders motivation makes employees feel more self-confident and more aware of their value as assets within the company they are part of, says Woo.
Hunger for knowledge and continuous curiosity should be the two main characteristics of a transformational leader. Therefore, training plans are key, both to improve the leaders figure and to implement them among his or her team in order to keep moving forward into the future.
Words and actions must go hand in hand so that consistency is present in all the decisions we make, suggests Woo. If you want your team to bet on innovation, the leader must be the first to step forward and take the risk to take this path.
To help you on this tough road of team leadership, several platforms offer HR indicators suitable to shed enough light on where you are going, so you can measure the key aspects of each department. The ultimate goal of transformational leadership is to get employees to follow the leaders lead to improve and move forward. Taking risks and facing potential failures are part of the road to success.
Transforming a company, no matter how flexible, is a long, slow process that must be pursued and kept in mind. The present does matter, but decisions must be made by thinking about where you want to go.
The transformational leader must trust in the capabilities of the people under his command. Knowing each employee is key to fostering their skills and helping them to give their best. Trust must be palpable for your team, that is, you must make sure, as a leader, to transmit to your team that you believe in them 100%.
About Allen Woo
Allen Woo is a self-taught expert in business and personnel management. Originally from Canada, he has spent much of his adult life honing his innate skills in motivation and personal growth. Woo dedicates his time to helping businesses and individuals make significant improvements in their daily interactions, constantly exploring new methods to motivate and enhance teams. When hes away from responsibilities, he likes to focus on inner growth and enjoys outdoor activities that exercise the body and the mind.
Québec, Canada – WEBWIRE – Monday, June 27, 2022 Having a good network of contacts has always been important for any facet of life. But, in particular, they are especially essential for the development of business activities. Business contacts have become even more important in recent years as the pandemic and COVID-19 have moved many offices into homes with telecommuting. Growing a business is essential, and Allen Woo, an expert in the field, explains why networking plays a critical role in that process.
Contacts in the business world are made up of the people we know, Woo explains. In the case of the business network, we are talking about those people who are customers, distributors, investors, etc. But, also part of our indirect network are the people who are known to our direct contacts, and who could be our customers, distributors or investors in the future.
According to the six degrees of separation theory, everyone in the world is connected by only five intermediaries. Therefore, the network of contacts can be infinite, in the sense that it is possible to meet anyone if you follow the thread of contacts.
Knowing the right people in the market is fundamental for any business because it is the source of business relationships. The key to working a companys network of contacts is to actively engage in relationships.
In recent years, we have witnessed that networking is the most effective way to build business relationships, Woo points out. There is no doubt that networking events are the biggest generator of business opportunities currently available to entrepreneurs in the province.
It should be clear that business networking is like a living organism. An organism that needs the food that new relationships give it to be properly nourished. That is why it is important to attend these events where meeting other entrepreneurs is the main objective.
Investing time and resources in taking care of the relationships that have been established through social events will be the key to going from being just another contact card to a business relationship with a future. If you only think about what the contacts are capable of or how they can benefit a company, the relationships will not last long. You need to contribute to making those relationships fruitful in a reciprocal way.
Woo suggests, In addition to nurturing the contacts we already have with time, resources, and value, we need to keep growing our list. One effective way is to increase our circle by adding acquaintances of our acquaintances to our business network.
In addition to networking, the best way to increase business contacts is to stand out, and the best way to do that is by enhancing brand reputation and visibility. In some companies, there is a service dedicated to improving the visibility and notoriety of the partners. With this reputation booster, entrepreneurs can stand out. The result is a call effect for new clients and collaborators, and a clear increase in the network of business contacts of the partners.
Another reason why networking is so important is that you never know where you will end up professionally and with whom. More contacts guarantee better relationships in the future.
Relationships change and it is not possible to know what position a person will occupy in the future. Maybe we are the bridge of contacts that have supported us in our professional beginnings, adds the expert.
Likewise, creating a network of contacts is important for anyone who wants to find a job or get a better one than the one they already have. It is clear that it is not the same to be one of the hundreds or even thousands of candidates who send their résumés to companies, as it is to meet directly the person who can open the door to that new opportunity.
In addition, there are certain companies that prefer to have employees who are able to relate and create a network of contacts with other workers or customers using networking. Even before forming a network of contacts of your own, it will serve to better understand the world of work and what is the most convenient option.
About Allen Woo
Allen Woo is a self-taught expert in business and personnel management. Originally from Canada, he has spent much of his adult life honing his innate skills in motivation and personal growth. Woo dedicates his time to helping businesses and individuals make significant improvements in their daily interactions, constantly exploring new methods to motivate and enhance teams. When hes away from responsibilities, he likes to focus on inner growth and enjoys outdoor activities that exercise the body and the mind.
Angelo Babb explains why buying cryptocurrency can be advantageous
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JD Duarte explains how to properly analyze business processes
Entrepreneur and business expert JD Duarte provides an expert opinion on business process analysis and why it matters to the success of any organization.
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People developer Allen Woo explains why transformational leaders are of utmost importance in todays fast-changing era, especially if the idea is to take a workplace to the next level.
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