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  • 12 Reasons Why You Would Open a Fitness Startup in 2020

    Health and fitness is the biggest treasure for every person. Without it, all other treasures like wealth, or property is nothing more than a heap of dust. Imagine you have lots of money and an enormous property but you are so ill that you can’t even stand or move. What will be the need for that wealth? The concept is crystal clear and understanding the gravity of the topic, more and more people are getting aware of the need for health and fitness.

    As more people feel it important to maintain good health, they find up ways to stay fit and the best way for that is healthy eating and daily exercise. The eating habits of most people are unhealthy and unbalanced which makes their body a hub for diseases. This makes them more stressed about their health. And all these factors have contributed to the rise in demand for health products, gyms, yoga centers, organic cosmetics, and much more.

    As soon as there was a hike in demand, the supply has to be increased so that equilibrium can be brought into society. To do so, more and more organic food and cosmetic companies, yoga centers, and gyms are coming up.The entire thing has paved the way for health startups.

    Fitness startups
    Fitness startups

    The health startups have seen a great evolution since the last decade.

    1. If we look into 2010, there were traditional fitness centers like boot camp-style workouts, fitness boxing, and classes like  Afro-Cuban, Zumba, Bollywood, and ballroom dancing. There flourished an idea to involve people in physical activities differently so that they can have fun alongside a good healthy body. The trainers had to teach such techniques to people using traditional practices. Since 2010, personal training has increased by manifold in popularity. The demand for such training was not just by rich and famous, but also by everyday gym users.
    2. Then, from 2011 to 2013, the growth of fitness clubs became skyrocketing. The trend of different programs and physical activity opportunities was almost doubled from 2010 to 2013 since 2008. It was the time when the concept of fitness started circulating enormously. The people started to think of numerous ways to stay healthy and fit and as a result, intermittent fasting, low carbohydrate, and gluten-free diets came into the trend and are popular even today. Wearable technology has evolved during the same period that included fitness tracking devices and it became easier for people to track their health.
    3. 2013 to 2016 was the time when a great wave of fitness trends was seen. Primal, body-weight training, and movement-based, everything became popular. Traditional equipment used for exercise was also used by then but a new range of equipment including kettlebells, battle ropes, suspension, and much more has also come up. Fitness centers started to come up in every nook and corner and more people got conscious about their health and fitness status.
    4. From 2016 to now, the trend of a vegan diet has come up from several documentaries as well as films, especially on Netflix like The Game Changers, What the Health and Cowspiracy, everyone has seen more and more people becoming Vegan. People have also replaced dairy milk with almond and coconut milk. Moreover, vegan clothes that are completely plant-based. Even the biggest brands like Adidas have started producing such clothes. More and more fitness gyms have come up because of the Instagram hashtags. Youngsters started to feel the gym to be an important part of life.

    This is how we all have reached here. The demand, as well as the popularity of fitness products or fitness centers, have never fallen in the last decade. It is increasing and just increasing on a more rapid scale. From clothes to food, from gyms to fitness devices, demand is growing endlessly. New instruments are coming up and are getting famous in no time.

    Now, any company can see this situation in two ways. Either it may believe that the competition is so high and it can’t survive and the other is that there is a huge opportunity for high profits in the future. The companies which look at the competition, will not even dare to take the risk but the company which looks at the opportunity, will not stop from the fear of loss. Success comes to those only, who dare to take risks. Whatever the situation, everyone looks at that with their way or mindset. So, it’s up to you that you are considering it as an opportunity or a big threat.

    The field is an opportunity from my point of view. You can earn heaps of profit from this business and will not have to repent in the future about the same. Here are the 12 reasons that will make you think the same:

    1. People want to invest in fitness

    The fitness craze has raised to such an extent that people are having a keen desire to spend on it. The sedentary lifestyle of people has paved the way for more fitness equipment and products as more and more people are becoming conscious about their expanding waistlines and fitness. So if you provide them with good facilities and the endurance of positive results, people will not think much to invest in your business. They are ready to pay any amount but what they want in return is fitness. You ensure them to make them fit and success will be at your hands. Provide them a fit and active lifestyle, weight loss solution, and a perfect body as they are ready to take out time from their busy schedules so that they can visit the gym and are willing to invest money.

    Fitness Business Ideas That You Can Start With
    Over the decade, the fitness industry has taken a massive shape in the country.People are flocking into the fitness industry, which is a branch of the entirewellness industry. The concept of mindfulness and wellness is becoming anecessity among people. It would be a great time if one can start th…

    2. Good deed

    By opening gyms or providing other fitness products, you are doing a good deed which will provide you mental satisfaction along with huge profits. You are contributing to the health of innumerable people and are making them ready to fight any disease, you are removing their inferiority complex by bringing their body to the perfect shapes, you are improving their overall personality and confidence level. What can be better than that? There are many businesses which fool people to earn but you are making them fit and healthy, to earn. You will feel positive and energetic that your source of income is such great work.

    3. Subsidiary income sources

    Suppose you are having a gym, you can sell supplements, proteins, and much more so that they can focus more on their health and get the desired body. Moreover, you can give them weight loss products, or branded gym apparel, or even technological health devices and add to your profits. Once you are training the individuals, if you suggest any protein shake or any other such things they will be willing to purchase it from you and you can sell it without much effort. Moreover, if people visit the gym daily, they would require good clothes so that they can share their pictures or videos on Instagram. So they will be keen to buy branded apparel or smartwatches and other fitness equipment.

    4. Not seasonal in nature

    Unlike many other businesses like manufacturing woolen clothes, the fitness business is not seasonal in nature. The trend of fitness never gets old as it is a lifestyle. Once a person understands the significance of fitness and starts gyming, there is no way back. He will become more and more dedicated to his health every day. So, the business is not seasonal which means that you will never get out of money. Your profits will be spontaneous throughout the year. Moreover, there will be a sudden hike in the gym users during the new year as most of the people take a resolution to be fit and healthy for the upcoming year.

    5. Never out of trend

    Your business will never get out of fashion unlike the clothes and most of the things today. The trend will keep on increasing without looking back. So, you will be running a safe business that provides you with the security that your profits will never crash but keep on rising, and that too on a large scale. So, once you have settled your business and settled to bring customers regularly, there is no going back. You will fly higher in the future without chances of coming down. The area is definitely a powerhouse of success and you will not repent.

    6. All sorts of people

    According to FitnessVerve, The fitness business is not limited to a particular class, caste, religion, or gender. Everyone is interested in it, irrespective of their ages. From teenagers to youth to middle-aged to old aged, from women to men to transgender community, from Hindu to Muslim to Sikhs to any religion, fitness is the right for everyone. So, your profit will come from all the directions. Everyone wants to stay healthy, fit, and disease-free. So, your business has a target audience that involves everyone. You can take your business to great heights, taking the benefit of the situation.

    7. Several options

    The fitness business is not limited to just gyms today. You may undertake a fitness franchise, produce fitness apparel, invent a fitness device, and much more. You can even start your fitness cafe for only people following a vegan diet. So, whatever field you belong to, you can become a part of the fitness business and earn easily.

    8. Small or large scale

    You can run your business on a small or large scale, whichever you want. You can expand your business whenever you want and that too without much effort. If you have doubts in your mind about whether you should invest in the business or not, you can start it on a small-scale and expand it once you have earned enough profits and have enough demand. It will not give a pressure of more investment for your startup as you can start it with the money you have.

    9. Success rate

    Everyone wants to do a business having high success rates. The fitness industry is emerging to be one of the highest success rates in providing industries. As the demand is continuously increasing, the supply must be increased so that equilibrium can be reached. The demand for fitness is more than ever before and this has paved the way for the fitness business. You need not fear much if you are associated with this business. You just need to do your best and success will automatically come to you.

    Step by Step guide How to Start Personal Training Business: StartupTalky
    If you are enthusiastic about working out and being fit? Then become a personaltrainer with this starting a business with this will be very much profitable foryou. Personal trainers work with an individual to help facilitate diet andfitness goals. Personal trainers help a variety of individuals …

    10. Less need for marketing

    Suppose you have built a beautiful gym with amazing design and great facilities. People will come up and click their pictures or videos while workout and post them on social media platforms. Many people will come across the picture or video and will be attracted by the facilities and design and will inquire about your gym. So, such businesses don’t want much marketing as the existing customers themselves will do it.

    11. The balance between personal life and work

    Often, the manager of the gym need not stay there for the whole day. He can focus his attention on any other business or his family as he need not spend his time managing the gym. This keeps a balance between the personal as well as the working life of the manager. Moreover, you can enjoy a vacation without any stress of who will handle the work or how will the deadline be achieved? You can enjoy it the way you want.

    12. Growth prospect

    Everyone wants a business that not only earns enough profits but also has chances of future growth. The fitness business is so easy to expand and manage that it can be expanded to any desired limit without much effort. You can expand your business as soon as you find out that the demand is high and that too without stressing about it.

    Conclusion

    The fitness craze is skyrocketing. Just take the benefit of the situation and consider it as an opportunity. Just start your business and soon, there will be no going back.

  • Online Business Ideas One Can Start With

    Owning and maintaining an online business gives entrepreneurs the freedom to make money from anywhere in the world. The most important step in starting a profitable online business is to find a business idea that matches your skills and strengths. There are so many different online business ideas out there to start small businesses online. In reality, “online” is just a channel that connects businesses to people. It’s a powerful tool that lets you reach anyone from anywhere in the world.

    The beauty of the internet is that you can quite literally launch a business and make money online with very little to no capital. If you understand the mechanics of online marketing. In today’s connected world, where technology affords us more flexibility in how and where we work. Find a product idea or business model that fits your lifestyle.

    Number of Internet Users
    Number of Internet Users

    1. Chatbot Businesses

    Chatbots have recently become quite popular. They are being used by businesses to provide proactive assistance to their customers. Chatbots are the biggest marketing trend to emerge in marketing. Chatbots leverage chat mediums like SMS text, website chat windows, and social messaging services across platforms like Facebook and Twitter to receive and respond to messages.

    2. Ad Management Business

    If you do understand the mechanics of paid advertising, then you could easily launch an ad management business. Paid advertising on popular social networks like Facebook, Twitter, and Instagram is another attainable and effective way to advertise your small business. The earlier you capitalize on this industry, the quicker you can build it into a stable online business.

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    3. Vacation Rental Business

    The vacation rental business is booming. Airbnb is the first name that comes to our mind while talking about vacation rental accommodations. You can provide a wide range of vacation rental choices across your locations. It’s very important to focus on different channels for marketing your website.

    5 keys for a stable vacation rental business:

    • Build relationships with your guests
    • Your relationship with your owners
    • Your branding and marketing strategy
    • Your local network
    • Unique selling point

    4. Webinar business

    A webinar is a presentation where a host shares information with an audience. The information can be anything. Running a webinar business can be a powerful and effective online marketing tool to help you reach your audience.

    More than 60% of B2B marketers use webinars to educate their audience.

    Five reasons you should use webinars:

    • You can reach people from anywhere in the world
    • Your audience can interact directly with you
    • You establish trust
    • You gain leads
    • You gain a huge source of inspiration

    5. Business Coaching

    Business coaches have typically experienced entrepreneurs and business owners themselves who decide to use their talents for building and growing a business to help other business owners reach their goals. Business coaches serve as both trainers and mentors, training you in the skills you need to be successful in your business and serving as a source of information. Any successful career in business coaching starts with a defined goal setting.

    6. Affiliate Marketing

    Affiliate marketing is one of the most popular ways to monetize online content. Affiliate marketing is pretty simple and can be very successful if you start in the right way. The key to maximizing your affiliate earnings is to provide additional value and to engage your readers. The most successful way to use affiliate programs is to only promote products, services, and offers that match the needs and wants of your audience. If you aren’t an online marketing expert yet, you can still use affiliate marketing and learn over time.

    How to Maximize Your Workday and Run Your Online Business More Efficiently
    You know what they say… Time is Money! And making the most out of your businessis about maximizing the time you have. With just 24 hours in a day, you’rehopefully spending eight of them sleeping and taking time to enjoy the thingsyou love but all too often, most entrepreneurs don’t know how to ma…

    7. Blogging

    A blog is a tool that can help develop an online presence, attract leads, and engage with an audience. Blogging is an easy job but maintaining your blog is tough. Blogging creates brand trust and nurtures relationships with current or future customers. The key is that you want to post original content that is useful to your target audience and to post regularly.

    Some tips to start blogging:

    • Choose the right platform
    • Find the perfect domain name
    • Choosing the right hosting is very important
    • Always keep regular backups
    • Setup Google Analytics
    • Set up a professional branded email address
    • Start building an email list right away
    • Setup unique contact forms for each use case
    • Pay attention to image copyrights and licenses
    • Onsite SEO optimization is important for growth
    Online Business
    Online Business

    8. SEO Consultant

    An SEO expert is someone that knows how SEO works and how to apply SEO to increase the rankings of a website in Search Engines. Before even starting to think about SEO, the first step you need to take is to familiarize yourself with how search engines work. SEO professionals help to increase your traffic and conversion rates, but they’ll free up your time to focus on more important things, like running your business.

    Advantages of becoming an expert on SEO:

    • Increase your rankings and traffic
    • Less dependency on SEO agencies
    • Decrease costs
    • Make better decisions like who to hire to work on your SEO
    • Highly recommended for Marketing managers
    • No business can survive online without SEO

    9. Small Business Consultant

    A small business consultant provides business owners with resources, advice, and planning designed to improve an organization’s performance and efficiency. A small business consultant works with clients on strategy, planning, and problem-solving, and helps clients develop business skills and knowledge.

    Consultant specializes in certain topics such as:

    • Accounting
    • Operations
    • Human resources
    • Management
    • Marketing
    • Public relations
    • Finance
    • Insurance
    • Product development
    • Manufacturing
    • Fundraising

    10. Social Media Consultant

    There are many advantages to becoming self-employed. Generally, you’re able to decide on your schedule, workload, and wages. Businesses and individuals turn to social media consultants when they need help managing their social media channels.

    • Focus on quality
    • Analyze data to find the perfect quantity
    • Be charming
    • Use scheduling tools
    • Automate repetitive tasks with If This, Then That (IFTTT)
    • Utilize social media analytics
    • Be a real person

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    11. A Web Designer or Web Developer

    Websites have become a critical component for businesses to stay competitive. Web design refers to the complete designing of a website and makes it visually artistic and functional at the same time. Web developers analyze user needs to ensure the proper content, graphics, and underlying structure are used to meet both the goals of the user and the website’s owner.

    Web development job titles:

    • Front-end developer
    • Back-end developer
    • User experience (UX) designer
    • User interface (UI) developer
    • Software developer

    12. App Developer

    With smartphones upgrading every month, mobile app development has become a job.

    • Analyze the market
    • Understand the ongoing trends
    • Decide a suitable namespace
    • Ensure your app meets your idea
    • Build with the right category
    • Choose the right platform
    • Use the right icon
    • Test your app more often
    • App monetization strategies
    • Optimize your app
    • Offline availability

    13. Tutoring Business

    The tutoring industry has seen an unprecedented boom in 2020. Tutors help students keep up with course material, prepare for big exams, and improve their academic development. One of the great things about starting tutoring business is you can start small and then expand gradually as you gain more clients.

    Consider these following aspects before starting tutoring:

    • Identify your niche
    • Determine your service area
    • Get certified
    • Set competitive pricing
    • Utilize a tutor management system

    14. YouTube Channel

    The most important thing you’ll need for a successful YouTube channel is something you most likely already have, an understanding of who your audience is, as well as what kinds of things they may find valuable.

    • Plan your content
    • Use with the right equipment
    • Look for inspiration
    • Make every second count
    • Start with simple editing software
    • Optimize your videos
    • Build your network
    • Connect with your viewers
    • Ignore all the negative comments
    • Upload videos regularly

    15. Become a Freelance Writer

    A freelance writing career takes hard work, good time management skills. Freelancers offer their writing services to different clients and often work across a variety of genres. Freelance writers can also write for different types of clients. Freelance writers can work full-time or part-time at home or in an office. Some freelance writers have a contract with several different clients.

  • How AR Remote Work Will Change The Industry?

    What does Augmented Reality actually mean and what is it used for? It is a widespread technology, so does a question pop up? How does it work? confused about all this, here’s an article which will clear all of your doubts about AR and AR remote work. So, without further ado let’s dive right into Augmented Reality.

    AR is the special technology where it instructs your device to be helpful throughout your day by letting you experience digital content in the similar way you experience the world. It lets you search things visually and virtually, simply by pointing your camera at them.

    It comfortably puts your answers exactly where your questions are by overlaying visual, immersive content on top of your real world. Did you know that NASA made use of AR for the first time for flying the X-38 by utilizing the special AR dashboard for navigation in 1999? Well, that’s the power of AR.

    Well-Known Uses of Augmented Reality
    Importance Of AR In Future
    How Does Augmented Reality Work?
    AR Remote Work Analysis
    How AR Remote Work Is Assisting Companies?
    Industries Adopting AR Remote Work

    Well-Known Uses of Augmented Reality

    Augmented reality is readily available and being used in innumerable ways including as Snapchat lenses.

    • In applications that help you search for your car in a crowded parking lot.
    • The biggest successful examples of AR are Google Maps, Google SkyMap and the game Pokemon Go.
    • The U.S. Army uses AR to train to train the candidates digitally.
    • Disney designed a technology in which it makes the characters in the coloring books as 3D characters.
    • Customers who have shop frequently online feel reassured that if a product is suitable or not, does it look better or not and they are satisfied with it before they even add it to their basket. It makes them less likely to return the item when it arrives. 43% of shoppers speculate that AR would help them make a better business deals.

    Importance Of AR In Future

    There is always a future of something that is important to the human kind. The success of the technology will never wear off.

    AR Remote Work
    Augmented Reality In Every Corner Of The World
    • Creation of new technology offers new opportunities for a huge amount of markets and commercial enterprises, among them Insurance, real estate, healthcare, retail, and manufacturing.
    • AR in Education brings unlimited possibilities for teaching and learning process.
    • Technology gives entirely real psychological and physical experiences and help us get authentically virtual feel that can be implemented.
    • You can always surprise your customers with something new and easier methods to shop.
    • GPS mobile apps with AR can rightly show tourist routes and directions to desirable destinations, translate the signs on the street, giving an additional advantage.
    • A chance to create something unique and thereby to express one’s individuality is way more engaging than standard media content.
    Future of AR

    How Does Augmented Reality Work?

    • Computer vision or camera understands what is in the physical world around the user from the content of the camera feed which it continues to grasp.
    • This allows the application to show digital content relevant to what the user is looking at.
    • This digital content is then displayed in a practical way, so much so that it looks part of the real world – this is called rendering.

    AR Remote Work Analysis

    • Considering the fact of the situation which we all are aware of, we have to consider AR Remote work. Even before the COVID-19 crisis, researchers were trying to bring this technology in our comfort zones.
    • Almost the entire world is bound by their houses, working from home and trying new things to keep the businesses keep going.
    • Remote work Augmented Reality is here to stay and will more than ever become an integral part of the way we work.
    • The numbers are increasing year by year for working remotely. 75% of current employees say they plan to work remotely or from home for the rest of their career.
    • The statistics shows how much significant it is to adapt technologies for every person as it is the only way now to rely on.

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    How AR Remote Work Is Assisting Companies?

    • Providing remote assistance to a customer can be tedious over a chat, email or phone call. Sometimes, the helpers don’t understand the actual issue. But this could be solved by combining live video streaming with augmented reality.
    • Researchers can work with each other through AR on the analysis of the Business with all the fancy visual demonstration than the auditory communication.
    • The biggest use of AR which proves beneficial for the customers and the Organization too is the revised version of Customer Service, mostly Technical Support.
    • Guiding the customers step by step with the problem they are entangled with.
    • Trainers have also started using AR to explain the trainees, interns and the students. Learning can be done in the most efficient and demonstrative way.
    • AR remote work as it happens, helps technicians/engineers gain immediate access to remote experts when it is needed, solve the problems in the service processes, quickly execute repairs and even communicate with customers. For example, they can use AR to locate the address prior to a dispatch or follow up after a visit.
    • The technology allows employees to confirm, record and add data to CRM systems, gather proof of identity, validate coupons, or  see evidence of damaged goods prior to authorizing returns.

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    Industries Adopting AR Remote Work

    Communication and Internet Service Providers

    These Service giants have adapted to remote work with AR. Vodafone is one the Organizations is harnessing remote assistance AR to better support their customers.

    Delivery Organisations

    AR identifies what one can see, while the GPS helps put in position on the map. Ultimately, Maps AR helps get around that problem of not knowing which way to walk because the AR can then point in the right direction so you’re heading the right way.

    Insurance and Financial Institutions

    With AR remote work assistance, as customers can easily gain clarity on billing, invoice inquiries and personal pin inquiries, with the agent sharing their view and pointing where necessary. Agents can use it to validate customer identities, or gather specific visual evidence or proof for disputes.

    Travel Companies

    Some Travel companies have step their foot in AR technology. It helps them explore new places, venues and many more interesting and suitable facts about them.

    Movie Companies

    Movie Companies are innovatively implementing AR technology to improve theatre experiences and attract larger audiences.

    The future of meetings, training sessions and daily work of the Organization could drastically and rapidly change with AR helping companies become more energy-efficient. Manufacturers, Researchers and more will find innovative ways to make people more productive in the face of an aging populace. All of these tools will help the expanding of acceptance and capabilities of AR a bit further.


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    Can you interact with augmented reality?

    Most virtual reality (VR) interaction takes place via a motion controller, but most headset-based augmented reality (AR) devices utilize a combination of gaze and hand tracking for interaction. When you set out to design your augmented reality app, you will need to consider how the user will interact with objects.

    What is the difference between VR and AR?

    Virtual reality (VR) implies a complete immersion experience that shuts out the physical world. Whereas Augmented reality (AR) adds digital elements to a live view often by using the camera on a smartphone.

    Is AR and VR the future?

    “Augmented, Mixed and Virtual Reality 2020-2030: Forecasts, Markets, and Technologies” covers one of the key markets of the future. VR, MR, and AR are products are used in many different settings, for example for day-to-day workflow management and on production lines. Hence, AR and VR is definitely the future of technology.

    What is AR in simple words?

    AR is the special technology where it instructs your device to be helpful throughout your day by letting you experience digital content in a similar way you experience the world. It lets you search for things visually and virtually, simply by pointing your camera at them.

    How exactly does Augmented Reality work?

    Computer vision or camera understands what is in the physical world around the user from the content of the camera feed which it continues to grasp. This allows the application to show digital content relevant to what the user is looking at.

  • Pros and Cons of Using Home Improvement Financing Companies

    For a homeowner, making improvements to their home and making makeshift changes to its existing structure can be inevitable. Sometimes, it can be a headache to live with a few elements of your home.

    This could be a boring paint color or an impractical bathroom design. You may need to make improvements to these elements if you want to live comfortably at your home.

    Fortunately, you can take assistance from various home improvement financing companies for such high finance jobs. Such companies can extend a line of credit specifically meant for the purpose of home improvement. However, as a prospective remodeler, you should account for the pros and cons of such home improvement credit sources.

    Let us explore the specific pros and cons associated with the service of home improvement financing companies.

    Pros

    The first major benefit of taking a loan, specifically for the purpose of home improvement, is that you can choose from a variety of loans. Different finance options cater to requirements for every size and price of home improvement projects. Since such loans seek to fit the scope of all individual projects, you will find one for updating lighting separate to one meant for remodeling a kitchen.

    Obtaining a secure form of home improvement finance can help you obtain larger sums of credit. Since you will be putting up something in collateral, undertaking a larger home improvement project becomes possible. In contrast, you can also opt for unsecured home improvement credit for smaller projects such as a paint job or upgrading some home appliances.

    Since they do not require a large sum of money, it is possible to do away with some credit to get them complete, without putting up anything in collateral.

    Usually, a line of credit meant for home improvement purposes tends to have a longer payback time. Moreover, the rate of interest applicable to such credit is usually lower than credit meant for other purposes.

    In addition, loans taken for this purpose offer the added advantage of offering a fixed rate credit, which is locked at the time of taking such loans. Hence, it is easy to manage and service for you as compared to other types of loans.

    You have the option to avail of facilities like HELOC, which is a home equity line of credit. It is most suitable for you if you are planning to keep the money for a longer duration of time.

    Basically, it is a credit card with which you can utilize a hefty amount of limit and, in turn, make monthly payments on the outstanding balances. Ideally, it is up to you to plan how and when you want to payback for the borrowed credit.

    If you are using a home improvement credit option to apply it at the right project and the right price, you will benefit immensely from your decision in the long run. Raising money to make a home improvement at a considerable scale will bring you the benefit of raising your property value, which you can sell at a later date.

    Cons

    Taking credit for home improvement does not come without risk. If at all you miss completing repayment of the due amount at the time when it is actually due, you stand the risk to impact your ability to borrow further. It is a bad financial activity which can cost you significantly later.
    To obtain a secured credit option to improve your home, you may be using your home itself as collateral. However beneficial this option may be for you, you are using your home as equity to support the credit. In case you were to default on the repayment of your dues, not only will you bring a bad impact on your credit standing but also risk losing your home.

    When it comes to credit options like HELOC, the rate of interest which you are able to avail may be tied up with prime rates. Any financing company is likely to provide a good interest rate only to their most creditworthy customers. This makes the interest rate applicable to HELOC highly susceptible to market conditions and your credit history.

    HELOC interest rates are comparatively low, and the home improvement financing company won’t have any claim on your property, but this is a major drawback of credit obtained through this source.

    The ability of a credit taken from a home improvement financing company depends largely on factors, which are external to your area of control. The final financial reward waiting for you may be a negligible one if the real estate industry is not booming at an optimum rate when you are done with the remodeling or upgrades.

    Further, if you plan to undertake a specific remodeling project which requires expert supervision, you may need to hire someone qualified to look after it. This will further push the costs upwards since it is always better to find the right advice before you fall into a poorly remodeled pit of liability.

    Home improvement financing companies may offer different sources of credit, but there are few tax advantages associated with them. The rules about home improvement credit for the purpose of tax deduction may vary to a great extent and may not provide enough benefits.

    In Conclusion

    Home improvement loans can be largely beneficial for you if you need to undertake major repairs and upgrades to your property, such as HVAC financing for contractors. While a strategic expense may increase the value of your property manifold, the economy comes to play a major role when it comes to making the final impact.

    Taking the service of a home improvement financing company may help you complete an essential upgrade or repair, for which you may have to save a lot of money and wait for a long time otherwise. In return, this delay may increase the damage to the structure and demand an even costlier repair expense at a later date.

    Hence, while there are some cons attached to the credit extended by a home improvement financing company, it is also a viable option for many.

  • NR Narayana Murthy to Chair the Jury to Select the First Ever TiE Global Entrepreneurship Awards

    TiE Global announces Global Entrepreneurship Awards for recognising and celebrating entrepreneurial excellence and the support systems for entrepreneurs.

    • These awards will recognise outstanding entrepreneurs who are shaping our world and also the key ecosystem players who are enabling the entrepreneurship to flourish.
    • These awards will be announced and presented on 10th December,2020 during the TiE Global Summit attended by more than 20000 entrepreneurs from around the world.
    • 6 Outstanding Entrepreneurs and 6 Ecosystem players will be recognised this year, selection is made by an eminent Jury consisting of distinguished personalities from around the world, chaired by N. R. Narayana Murthy, Founder Infosys Technologies.

    California November 25, 2020: TiE Global Entrepreneurship Awards are designed to honour the outstanding entrepreneurs for their stellar performance and recognising the key ecosystem stakeholders for their contribution to the start-up innovation, entrepreneurship development and investment climate. This initiative is in live with TiE’s mission of Fostering Entrepreneurship.

    Mahavir Sharma, TiE Global Chair says that TiE has been working with entrepreneurs for almost 30 years to promote entrepreneurship. I am happy that we finally decided to recognise these stellar individuals and organisations who are making entrepreneurship not only possible but also accessible to anyone anywhere in the world.

    Explaining the structure of these awards, Kali Gadiraju, Awards Chair and member of TiE Global Board of Trustees said, “There are two awards to honour lifetime achievements of first generation and second generation entrepreneurs and four awards to recognise outstanding entrepreneurs who created great Unicorns in lightning speed, rapidly listed, bootstrapped and very innovative. To ensure the selection process is thorough and objective, the team is mentored by leading Professors, Dr. Bala Balachandran of Kellogg School of Management and Prof. Kavil Ramachandran of Indian School of Business.”

    Entrepreneurial ecosystems play a crucial role in fostering entrepreneurship and to recognize them we have awards for Angel Networks, VC Funds, Incubator/Accelerators, Universities, Corporates and Government ecosystems. The jury for the awards is headed by Mr. Narayana Murthy, Founder, Infosys Technologies and consists of distinguished personalities from around the world, viz. Dr. Jagdish Sheth, Emory University, Gururaj ‘Desh’ Deshpande, Sparta Group LLP, Ms. Ping Fu, Cofounder Geomagic, Dr. Simon Galpin, Sr. Advisor Bahrain Economic Dev Board, Richard Kalgaard, Publisher Forbes Magazine, Dr. Orna Berry, Chief Scientist Israel, Dr. Steven Sonsonio, Professor London Business School, Tim Draper, Founder Draper University.

    Sridhar Reddy, Chair for the TiE Global Summit said, “this will be a remarkable entrepreneurship event conducted virtually and running non-stop for 60 hours. This year’s theme being entrepreneurship 360 will have several tracks viz. 250+ star speakers attended by more than 20000 entrepreneurs, 500+ curated 1-on-1 start-up meetings with mentors, 200+ investors from across the globe and TiE Global Awards presentation ceremony. This is the go to place for founders to network with global entrepreneurs and get visibility for their businesses, find advisors, investors, corporate honchos during these 3 days.”

    Tie Gloabal Summit
    Tie Gloabal Summit

    TiE Global Entrepreneurship Awards https://tieglobalawards.org/ TiE Global https://tie.org/

    About TiE Global:

    • TiE (The IndUS Entrepreneurs) is one of the largest global non-profit organizations focused on fostering entrepreneurship.
    • From our humble beginnings in Silicon Valley 28 years ago, TiE has grown to 61 Chapters in 14 countries with more than 15000 members worldwide and covers all the HNI’s into Tech, Angel investors and VC’s.
    • TiE Impact till date: 200 Billion+ USD through our angel and networking events. Most of it in India from Indian Citizens and Indian diaspora from outside and also within US by Indian Diaspora. Aim to bring in that much into India in the next few years from outside and much more from within India.
    • Impacted 50k students and women, future entrepreneurs by way of mentoring and aim to take it to one million in the next few years.
    • Our chapters worldwide organize 1000s of events and programs throughout the year to educate, inspire, mentor and fund entrepreneurs. But the TiE Global Summit (TGS) is the largest and the most prestigious event of all.
    • TiE is actively engaged with all the entrepreneurial ecosystem players viz. Angel Networks, VCs, Incubators, Accelerators, Educational Institutions, Governments, Corporates and NGOs for the purpose of fostering entrepreneurship.
  • Huawei – Implementing Innovation 2.0

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Huawei was founded in 1987 by Ren Zhengfei, an ex-military officer. It was merely formed as a private company. The main mission of the company was to provide consulting and operations services to most of the enterprises in China and outside the country.

    There are around 3 core business units in the company, Telecom Carrier Networks, Enterprise Business and Devices, and manufacturing communication devices.

    Huawei – Company Highlights

    Startup Name Huawei Technologies
    Headquarters Shenzhen, China
    Industry Consumer electronics, Telecom equipment, Networking equipment,Semiconductors
    Founded September 15, 1987
    Founder Ren Zhengfei
    CEO Ren Zhengfei
    Areas Served Worldwide (exempting United States since 2019)
    Website www.huawei.com

    Huawei – About and How it Works?
    Huawei – Logo and its Meaning
    Huawei – Founder and History
    Huawei – Mission
    Huawei – Recent News
    Huawei – Partnerships
    Huawei – Business Model
    Huawei – Revenue and Growth
    Huawei – Investments
    Huawei – Acquisitions
    Huawei – Competitors
    Huawei – Challenges Faced
    Huawei – Future Plans
    Huawei – FAQs

    Huawei – About and How it Works?

    Huawei is a global provider of information and communications technology (ICT) infrastructure and smart devices. The company offers a range of products, services, and business solutions for telecom carriers, including wireless network, fixed network, cloud core network, carrier software, IT infrastructure, network energy, professional services, and network rollout services.

    It also builds a digital infrastructure platform utilizing cloud computing, software-defined networking, big data, and IoT to enable the digital transformation of the government, public utilities, finance, energy, transport, and manufacturing industries. In addition, Huawei provides smartphones, tablets, wearable devices, converged home devices, and applications on these devices for consumers and businesses.

    Huawei – Logo and its Meaning

    Huawei Logo
    Huawei Logo

    In addition to Huawei’s name, its own brand uses a flower-shaped logo. This is a symbolization of the “Hua” syllable that can mean petals or can also mean a lavish and luxurious in Mandarin. So it can be concluded Huawei logo symbolizes the achievement that surge or boast.

    Huawei – Founder and History

    The company was founded in 1987 by Ren Zhengfei, an ex-military officer.

    Founder of Huawei
    Founder of Huawei

    It was merely formed as a private company. The main mission of the company was to provide consulting and operations services to most of the enterprises in China and outside the country. The company has around 140,000 employees working. 46% of the employees are involved in research & development.

    After a few years, the company got a research centre of its own and started doing research and development. The set up got an initial breakthrough by launching its C&C08 digital telephone switch. The company got its first international project in 1997. It then started providing fixed line networks products to a company in Hong Kong.

    In 1999, Huawei set up its first R&D centre in Bangalore, India. The company also entered into a 5-year contract with IBM till 2003. Huawei continued to expand into international markets. It is the first company to deliver LTE/EPC commercial network for Telia Sonera in Norway in the year 2009.

    In 2013, the company opened its new office in Canada. Over the years, Huawei always focused on enhancing its mobile technology and has a number of partnerships with other companies. It also formed a joint venture, 3Com-Huawei and focused on R&D and production of the networking products.

    Huawei is a collective company now and not privately owned any more. By the year 2010, 80% of the top 50 telecom companies worked with Huawei. Some prominent partners include Motorola, Vodafone, Talk Talk, T-mobile, Clear wire, Bell Canada, etc.

    Huawei – Mission

    Huawei’s mission is to expand the benefits of technology to everyone, everywhere. To achieve this, they’ve developed a digital inclusion strategy that focuses on three areas: technology, applications, and skills. Huawei believes that technology will make life better for every individual, home, and organization.


    SONY,Interesting Facts. The unknown facts about Sony
    The Sony we know today is all about shiny TV sets, mobile phones or cameras. Itwas a company that started with selling rice cookers. But that didn’t work outwell for the company. If it had then the Sony we know today would be a lotdifferent. Sony has emerged as one of the biggest producers of i…


    Huawei – Recent News

    • The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment of North America. The report provides an overview of the growth rate of the North America 5G Chipset market during the forecast period, i.e., 2020–2027 in which top key players are Broadcom, Inc., Huawei Technologies Co., Ltd, Mediatek Inc., Nokia Corporation, Xilinx, Inc.
    • Lawmakers passed a motion demanding Prime Minister Justin Trudeau decide within 30 days whether to ban Huawei Technologies Co. Ltd. from Canada’s next-generation wireless network.
    • The chief executive of Ericsson has come out in support of arch-rival Huawei after Sweden blocked the Chinese firm from building its 5G networks.

    Huawei – Partnerships

    As of the beginning of 2010, approximately 80% of the world’s top 50 telecoms companies had worked with Huawei.

    Current prominent partners include:

    • Bell Canada
    • BT
    • Clearwire
    • Cox Communications
    • Globe Telecom
    • Motorola
    • Orange
    • PLDT
    • Portugal Telecom
    • Google
    • T-Mobile
    • TalkTalk
    • Vodafone

    Huawei – Business Model

    When you look at the rise of the Huawei it’s clear that the success has come from adopting new business models to fit current market trends and to ensure that they remain competitive towards its competitors. The adaptation and change for its business models over the years has ensured that it remains a dark horse in the smartphone industry. Many years ago, Huawei was known for selling ‘cheap and cheerful’ products, which were renowned to not last very long.

    As a company, Huawei has invested millions in R&D to help them pursue better approaches to the industry and to try and get the company renowned as one of the best. As you can see from the image below the amount of units that Huawei now sells compared to back in 2013 is a substantial improvement, which can effectively be down to several improvements it has made as a company over the period of 3 years. The willingness of adapting and changing its ideas to fit and match companies such as Apple and Samsung will be a major factor of its success.


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    Huawei – Revenue and Growth

    Huawei announced worldwide revenues of $105.1 billion for 2018, with a net profit of $8.7 billion. Huawei’s Q1 2019 revenues were up 39% year-over-year, at US$26.76 billion. In 2019, Huawei reported revenue of US$122 billion.

    Huawei – Investments

    Huawei Technologies has made 5 investments. Their most recent investment was on Dec 19, 2019, when Lero raised €6M.

    Date Organization Name Round Amount
    Dec 19, 2019 Lero Venture Round €6M
    May 8, 2017 Falcon Computing Solutions Series B $8M
    Mar 1, 2015 Che Youyuan Angel Round CN¥3M
    Jul 21, 2014 XMOS Series D $26.2M
    Jan 1, 2011 Teewon Venture Round CN¥320M

    Huawei – Acquisitions

    Huawei Technologies has acquired 9 organizations. Their most recent acquisition was Vocord on Jun 4, 2019.

    Aquiree Name Date Amount About Acquiree
    Vocord Jun 4, 2019 Vocord is a developer & manufacturer of intelligent video surveillance systems, biometric identification and computer vision
    Vokord Telekom Zao Jun 3, 2019 $50M Vokord Telekom Zao manufactures radio and television broadcasting and communications equipment
    HexaTier Dec 27, 2016 $42M HexaTier delivers unified database security solutions utilizing a patented database reverse proxy technilogy
    Toga Networks Dec 7, 2016 Toga Networks is a privately held company that provides advanced technologies research and high level design for the IT and Telecom markets
    Neul Sep 22, 2014 $25M Neul develops wireless network technology to enable the use of TV white space spectrum
    Centre for Integrated Photonics Jan 26, 2012 Centre for Integrated Photonics designs, develops, and manufactures semiconductor optoelectronic chips for telecommunications applications
    Huawei Symantec Technologies Nov 14, 2011 Huawei Symantec Technologies Co. Ltd. (Huawei Symantec) is a leading provider of network security and storage appliance solutions to
    3Leaf Feb 19, 2011 3Leaf offers server virtualization solutions for data center initiatives such as power management and architectural support
    Harbour Networks Holdings Sep 11, 2006 Harbour Networks Holdings provides internet protocol-based networking equipment and services management software for varied industries

    Huawei – Competitors

    Huawei’s top competitors include Lenovo, Ericsson Nikola Tesla, Ericsson, ZTE, Apple, Nokia, Xiaomi, Sony, Samsung Electronics and HTC.

    Huawei – Challenges Faced

    Huawei’s globalization efforts were marred by issues of security concerns expressed by countries that were sceptical over its lack of transparency. The US had vehemently opposed Huawei’s growth activities in its country. To become a truly global company, Huawei had to develop its market in the US. Against the backdrop of such security concerns, the case study would analyse the growth of Huawei in its home country, China, its international growth strategies and whether the hue and cry raised by the US authorities on security concerns would really impede the growth of Huawei globally.

    During the first three quarters of 2020, the Chinese telecoms and smartphone giant reported revenue of 671.3 billion yuan (about USD $100.7 billion), an increase of 9.9% year-over-year, with a profit margin of 8%. The company said those results “basically met expectations,” but it represents a huge drop from its performance during the same period last year, when Huawei reported 24.4% growth with a profit margin of 8.7%.

    The company wrote that “as the world grapples with COVID-19, Huawei’s global supply chain is being put under pressure and its production and operations face significant challenges. The company continues to do its best to find solutions, survive and forge forward, and fulfil its obligations to customers and suppliers.”


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    Samsung Electronics was established by Lee Byung-Chul in 1938 as an exchangingorganization. Samsung is a South Korean electronic gadget manufacturer inSamsung Town, Seoul. Here’s a Case Study on Samsung, one of the largest SouthKorean business combination. What is the growth of Samsung in recent …


    Huawei – Future Plans

    Looking to the future, Huawei’s innovation will transition as we move from an Innovation 1.0 era to an Innovation 2.0 era. Huawei said that it was going to start with smartwatches, wearables, in-car head units and it’s powering the Honor Vision smart TV, although the company stuck to open source Android for its smartphones in 2020, while its wearables still use LiteOS at the time of writing.

    The company says, “In Innovation 2.0, based on our vision for the intelligent world we are entering, we will aim to break the bottlenecks in theories and basic technologies that have hindered the development of ICT. In this stage, we will focus on theoretical breakthroughs and inventions, which means going from 0 to 1. “

    The philosophy of Huawei’s Innovation 2.0 will bring together universities and research institutes and connect the academia with businesses, to allow all types of global scientific research resources and talent to come together in the pursuit of innovation.

    To better implement Innovation 2.0, Huawei will adopt a number of approaches, including supporting the research programs of universities and research institutes, building its own labs, and investing along multiple technological paths.

    Huawei – FAQs

    What services Huawei provide?

    Huawei Technologies designs, develops, and sells telecommunications equipment and consumer electronics.

    Can Huawei phones be used in India?

    Yes, Huawei phones are used in India as it was relaunched in January 2020 itself.

    Can Huawei still use Google?

    Despite executive comments to the contrary, Huawei says it’s still open to using Google services after being forbidden from including them on devices last year.

    How does Huawei make money?

    There are around 3 core business units in the company, Telecom Carrier Networks, Enterprise Business and Devices or manufacturing communication devices.

    Where was Huawei banned?

    The company was blacklisted in 2019 by Trump when the US alleged that it was too close to the Chinese government.

  • What Programming Languages And Tech Skills You Need To Have As A Data Analyst

    With the world entering a digital phase, every business understands the importance of means like data. The online domain has boosted the role data plays in every industry. That is why brands nowadays dedicate a particular focus on the domain.

    So much so that they hire talented individuals to dig out data and assess it thoroughly. While the definition can bode well with several positions, a data analyst fits the description the best. The data analyst position is one of the most desirable jobs right now, and reasonably so.

    The job pays well, and the growth prospects in the field are exponential. That is why many candidates enter the field in hopes of making it big. But it is not as simple.

    The sheer competition in the field is outrageous. On top of that, you need to figure out your approach to enter the domain. The confusion persuades the candidates to look for an entry level data analyst job description.

    However, merely reading a job description will not land you a decent data analyst job. For that, you need to possess a specific set of skills. What are those skills which can help you become an efficient data analyst?

    Read through the blog and know all about them. Here are the top technical and programming skills needed to become a data analyst.

    Top Skills Needed to Become a Data Analyst

    Here is everything you need to master to land the best data analyst job:

    MS Excel

    Representing a data structure is an integral part of a data analyst’s job, and Excel can achieve it optimally. While the tool is commonly known to prepare spreadsheets, it can facilitate several other functions. Excel is ideal for handling light, quick, and small analytics.

    Methods such as using VBA and writing Macros are robust enough to help out an SME or a startup. After all, they have continuously been helping businesses throughout the years.

    SQL

    Honing a grasp of database languages is crucial for anyone aspiring to become a data analyst. That is why you need to master Structured Query Language or SQL. The language is renowned worldwide and is often called “the Excel’s graduated version.”

    SQL helps a data analyst store and manage data, connect to additional databases, and even build different data structures. The language becomes even more integral if you intend to work in a firm utilizing means such as Big Data.

    Python or R

    While Excel is considered apt for SMEs, a large organization needs the help of Python. Python or R is capable of doing Excel’s tasks quicker and better. The statistical programming languages are ideal for predictive analytics and advanced analysis.

    Since both R and Python are industry-standard, a seasoned data analyst must master one of them. So which one should you choose? Both languages are accepted in the industry, but some firms might prefer R to explore and analyze massive data.

    Data Preparation and Cleaning

    Retrieving data from different sources is the primary job of a data analyst. So it goes without saying that you need to possess the skill. After gathering the data, a data analyst prepares it for categorical and numerical analysis.

    Sometimes, you also need to clean the data to complete the analysis correctly. Cleaning means to handle inconsistent and missing data affecting the analysis. While data cleaning is not as fun, preparing data can give you a refreshing experience.

    Data Exploration and Analysis

    Hiring a data analyst to perform data analysis goes without saying. A data analyst must convert a business query into a data query and answer it with data.

    Data exploration is another branch of data analysis, and it helps find correlations and patterns within the data. Such trends can be used for the firm’s betterment, such as cost reduction and better growth prospects.

    Preparing Data Visualizations

    Simplifying data by making patterns and trends is another primary job of a data analyst. Understanding a long spreadsheet is not an easy task for a non-technical audience. That is why a data analyst is required to create charts and plots to represent the data better.

    Creating data visualizations also helps in data exploration. Finding a data analyst job where data visualizations are not mandatory is rare. So candidates should learn data visualization skills.

    Machine Learning

    Businesses do not ask a junior data analyst to carry multiple years of work experience. That is why an entry level data analyst salary is lower than a senior data analyst. Moreover, senior data analysts are required to master the data science field.

    Currently, predictive analysis and artificial intelligence are the most talked about subjects in the industry. Both the technologies are sure to rule the upcoming digital revolution, and that is why a senior data analyst must be adept with them.

    Enhancing statistical programming skills is critical to growth in the domain, so as a data analyst, you need to get familiar with tech like machine learning.

    Formulating Reports and Dashboards

    A firm hires data analysts to make educated decisions after going through the data reports and analysis. So it is needless to say that a data analyst must prepare reports and dashboards with the data provided by the business.

    It might be a simple table, chart, or a complex dashboard comprising multiple data points. An analyst must be capable of representing the data findings in the most straightforward and most understandable forms.

    Statistical Knowledge

    Grasping the theatrics of statistics and probability are vital skills a data analyst needs to possess. These skills can be helpful in data exploration and analysis, expanding your skillset as an analyst. Also, understanding the statistics will help validate your findings and eradicate any errors in it.

    The level of expertise will vary depending on your position, but its requirement is mandatory nonetheless. If the business heavily relies on probability analysis, you will require an extensive understanding of the subject.

    Conclusion

    In the current digital age, positions like data analyst have become pivotal for a business’s survival. A data analyst knows every workaround regarding data and helps an organization steer through the intricate market dynamics. Since the job is popular and well-paid, numerous candidates prepare for it.

    However, landing a decent data analyst job requires them to possess several key skills. The blog has mentioned several essential skills needed to become a data analyst. Read through it, and try to accommodate as many skills as possible to get the best data analyst job today.

  • Impact Of Blockchain In Banking Sector

    From early history, the banking industry has been acting as an intermediary to conduct financial transactions. Technology has always had an impact on the banking system. Major banks and financial institutions are realizing that blockchain technology could vastly improve the efficiency of their processes –particularly in cross-border payments – and reduce costs. A Blockchain is a digital, immutable, distributed ledger that chronologically records transactions in near real-time. Blockchain in the banking sector can play a key role in helping Indian banks and financial institutions realize significant benefits. Blockchain proposes a solution for this criticism as well as provides a competitive advantage over the Fintech industry.

    The banking industry represents a major part of the global economy. Banks are the biggest and oldest financial intermediaries around the world. Over time, the technology-facilitated Automated Teller Machine (ATM), electronic fund transfer, electronic clearing service, real-time gross settlement, online banking, debit-credit cards, and mobile banking to the customers. Today, the banking industry is reliant on technology, and therefore, blockchain could prove to be the game-changer in the industry.

    Blockchain
    Blockchain

    Fraud Prevention

    Protection from identity theft and fraud is a constant challenge for everyone involved in buying and selling. Blockchain’s decentralized technology can enable banks and financial institutions to be more effective in the areas of fraud management and money laundering.

    KYC/AML

    Current KYC procedures which are used by leading banks and corporations around the world are completely dependent on human beings and are therefore slow and inefficient. Know Your Customer(KYC) and Anti-money Laundering(AML) is very essential for the identification of clients and also for preventing and tracking crime. Blockchain technology has proved to be very effective and compelling for cryptocurrencies to run successfully but it’s not the only thing that it can be utilized for. Creation of a common KYC & AML registry that could be utilized by various banks & financial institutions. This would drastically increase the process and reduce the expenses of KYC compliances. KYC & AML registry could be utilized for intra-bank purposes also. For KYC document storage, it makes sense for the banks to develop a shared private blockchain.

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    Faster Payments

    The World Economic Forum estimates that 10% of global GDP will be stored using blockchain by 2027. Most of this will be captured within cryptocurrencies. Unlike traditional currencies, cryptocurrencies enable quick transactions, secure, and global. Blockchains are revolutionizing the world of payments by fulfilling the bank’s desire for faster processing. Cryptocurrencies have barely been used for everyday payments and purchasing due to a few complications with regulation and trust. Cryptocurrencies have barely been used for everyday payments and purchasing due to a few complications with regulation and trust.

    Forest is an open-source blockchain platform specially developed for high-speed private payment. This platform integrates a large number of the latest technologies in the field of blockchain technically. The main objective of a payment ecosystem is to use a decentralized network to enhance payments and financial settlement.

    Centralised Payment System
    Centralised Payment System

    Clearance and Settlement systems

    A Distributed Ledger Technology (DLT) like blockchain could enable bank transactions to be settled directly and keep track of them better than existing protocols such as Society for Worldwide Interbank Financial Telecommunication (SWIFT). DLT is viewed by many as having the potential to disrupt payment, clearing, settlement, and related activities. DLT could reduce the traditional reliance on a central ledger managed by a trusted entity for holding and transferring funds and other financial assets.

    Proponents of the technology highlight its ability to transform financial services and markets by:

    • Reducing complexity
    • Improving end-to-end processing speed and thus the availability of assets and funds
    • Decreasing the need for reconciliation across multiple record-keeping infrastructures
    • Increasing transparency and immutability in transaction record-keeping
    • Improving network resilience through distributed data management
    • Reducing operational and financial tasks

    The use of DLT, however, does not come without risks. In most instances, the risks associated with payment, clearing, and settlement activities are the same irrespective of whether the activity occurs on a single central ledger or a synchronized distributed ledger. Which said that DLT may pose new or different risks:

    • Potential uncertainty about operational and security issues arising from the technology
    • The lack of interoperability with existing processes and infrastructures
    • Ambiguity relating to settlement finality
    • Questions regarding the soundness of the legal underpinning for DLT implementations
    • The absence of an effective and robust governance framework
    • Issues related to data integrity, immutability, and privacy

    Fundraising

    Fundraising has been taking place for as long as people have been using money to carry out business transactions. Blockchain is becoming another source of capital for entrepreneurs.

    ‘It’s a brand new way of transmitting money without the need for traditional banking networks, as well as a means to store data in a transparent and unalterable way’. – Sean Williams of Motley Fool

    Blockchain can be used as a source of funding. The main thing is the ‘ICO’ or Initial Coin Offering.

    There are three types of ICO tokens:

    • A currency token is one that has a corresponding ‘fiat’ value. Bitcoin is an example.
    • A utility token is a hybridized token that has a stored value based on the economics of supply and demand. Utility tokens are typically used for things like in-app purchases. An example is Ethereum.
    • A security token represents real-world securities or assets. A security token can be efficiently fractionalized and can represent ownership in a fund. Examples of security tokens include Blockchain Capital (BCAP).

    To gain funding for the project, the developer issues a limited amount of tokens (could be utility or security). The tokens must have a limited amount because:

    • It makes sure that the ICO has a goal to aim for
    • As the demand rises and the supply of tokens diminishes, it makes sure that the value of the tokens will go up. The tokens have a predetermined price which may go up or down depending on the demand.

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    Security in Banking Sector

    Blockchain technology is being used to protect sensitive records and to authenticate the identity of a user. Keyless Security Infrastructure (KSI) stores data hashes on blockchains and runs a hashing algorithm for their verification. Public Key Infrastructure (PKI), an encryption approach that is particularly vulnerable to man-in-the-middle and DDoS attacks. Blockchain has emerged as one of the most disruptive technologies and has minimized the prevailing security issues in financial transactions.

    • Blockchain removes the middleman in asset rights transfers, lowering asset exchange fees, giving access to wider global markets, and reducing the instability of the traditional securities market
    • Moving securities on the blockchain could save $17B to $24B per year in global trade processing costs

    IDC’s most recent five-year forecast, which goes through 2023, indicates that blockchain spending will be led by the banking sector with approximately 30% of the worldwide total.

    Banking Security
    Banking Security

    Loans and Credit

    According to Experian, fintech consumer lending has more than doubled in just four years, growing from a 22.4% share of personal loan originations in 2015 to 49.4% in 2019. Before the rise of banks, loans and repayments took place peer-to-peer. People had to trust each other. Built on a distributed ledger, the very nature of its design is trustless and decentralized. This makes it possible to transfer ownership of an asset from one person to another. The benefits for banks of utilizing blockchain technology are much the same as for individual loan providers, but perhaps even more useful for larger institutions.

    According to a report issued by the World Economic Forum, by the year 2025, 10% of the world’s GDP will be stored on the blockchain.

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    Trade Finance

    Trade Finance in its simplest form can be seen as the financial transactions of both domestic and international trade that take place between a seller and a buyer facilitated by intermediaries such as banks and financial institutions. These trade finance transactions generally include lending, issuing letters of credit, factoring, export credit, and insurance. While blockchain is already being used by many industries ranging from manufacturing, healthcare to real estate, or government application, one of the main industries that can benefit from this technology is trade finance.

    Blockchain Trade Finance procedure:

    • Receiving and classification of trade documents
    • Extraction of data from the recorded documents
    • Generation of valid reports for cross-documentation and transaction
    • Automatically validating the data between documents and generated reports is done
    • Document scrutiny is performed adhering to various rules and regulations

    Digital Identity Verification

    Digital identity arises organically from the use of personal information on the web and the data created by the individual’s actions online. The identity and access management market is expected to grow from $8.09 billion in 2016 to $14.82 billion by 2021, representing a 12.9% CAGR. Managing digital identities done by three Cs – Cumbersome, Costly, and Challenging. Blockchain has evolved significantly from the distributed ledger technology created to track bitcoin ownership. Blockchain can empower users to have greater control over their own identities. Blockchain has facilitated the so-called self-sovereign identity, which is inherently unalterable and more secure than traditional identity systems.

    Users sign up to a self-sovereign identity and data platform to create and register a DID. During this process, the user creates a pair of private and public keys. A decentralized identifier (DID) is a pseudo-anonymous identifier for a person, company, object, etc. Each DID is secured by a private key. Only the private key owner can prove that they own or control their identity.

    In principle, self-sovereign identity would allow users to :

    • Control their identities
    • Access and update information
    • Choose the information that they prefer to keep private
    • Transport the data
    • Delete the identity if that’s what is wanted
  • Top 9 Ways In Which Your Law Firm Could Benefit By Video Advertising

    When it comes to generating more traffic, video marketing ticks the complete checklist! From converting more leads to attracting more customers, video marketing is the latest trend, enlisting newer domains under its purview.

    Would you believe that even your law firm can benefit from the impact of video marketing? Perhaps not! This is precisely why you need to find out how to use a professional video editing service and convert more clients today!

    Using a video marketing strategy is useful for your firm in more than one way. It leads to the improvement of SEO listing and impacts the search ranks in a positive frame. The target audience can be sought through better channels and engaged through them.

    At the bottom line of these efforts is the persuasion, which you can bring in the customer’s mind that you are the right law firm to choose. However, making a video for the purpose of advertising usually carries many notions, such as that it is they are challenging to make.

    There are many other benefits too, which can accrue to your law firm by choosing video advertising. Let us understand what they are!

    How To Leverage Video Advertising For Positive Results?

    Sharing On Social Media Channels

    If you share any video content through a social media channel such as Facebook or YouTube, you can expect it to be shared multiple times. In no time, your videos may be able to gain enough traction to pop up on the timelines of different users and pages.

    Like Facebook, social media channels tend to reward natively uploaded videos, helping them carve a niche for themselves.

    Reaches People Where You Cannot

    Can you physically reach out to a lakh potential people in a day? That would be quite impossible but using digital tools; you may quickly achieve this goal.

    Even a mere 30-second video created for the purpose of advertising may be able to pitch your brand name across a huge base of clients. Use a compelling message to send across to your audience, and you will see an instant increase in their attention to your website.

    So, a video can increase your reach and connectivity across geographic locations.

    You Become Easy To Locate

    Suppose you successfully market your advertising attempt in a way that your audience finds valuable. In that case, you may be able to catch the attention of an innumerable number of clients in no time. Attach value to your videos by showing your audience why they can trust you and find a solution with you.

    Tells Your Story

    Video advertising helps to get your story across to your clients. It may go unnoticed and unattended while in person, but when spoken through a digital medium and in a crisp and precise note, you are more likely to be recognized for the history which you carry behind you.

    Ensure that you are getting the right message across to the audience and explaining it well enough to them how your services can eliminate their legal troubles.

    Makes An Excellent First Impression

    You may not be able to approach a potential client with extreme confidence in the first go. However, when interacting on a digital platform, you may have a better response from the clients, who may be willing to look at your story, your firm, and how you deliver your services.

    This way, when they approach you in person, they may be able to consult you with confidence and trust.

    Informs Your Customers

    It might waste a lot of your time if everyone was supposed to call your office and ask whether they can sue someone for this or that matter. A great way to use video advertising in your favor is by answering vital questions such as these through informative videos.

    This will help your potential clients understand the nature of legal formalities and whether or not they can approach you for legal counsel for a particular matter.

    Helps Answer Ancillary Doubts

    When it comes to legal matters, your clients may never run out of questions and doubts. For this reason, they may be willing to approach the wealth of your legal information and knowledge to solve those queries.

    However, for you, it may turn out to be a non-revenue generating activity, which might also take up significant time. The best way to manage this gap is to use video advertising to help your clients understand the matters with which you deal and the purposes for which you can provide your services.

    A direct result of this activity is saving time and focusing on clients and activities that bring enough revenue.

    Helps To Communicate Authority

    Creating a compelling video for advertising implies your authority as a person of the legal profession. People will find it easier to place their trust and confidence in your legal counsel after obtaining a glimpse of your ability to handle legal matters.

    It isn’t easy to build a great video and assume authority by sharing important and relevant information. This way of educating your potential clients serves to impact your position as a legal firm in a positive light.

    Highlights Your Strengths

    Again, it may not be possible to gain your clients’ confidence with the first, second, or even the third meeting. This is mainly due to a lack of trust, which cannot be built easily.

    However, video advertising can play a revolutionary role in enhancing the trust which your clients can place in you. You can specifically create these videos so that you can show your strengths to them and communicate how well you are placed to handle legal matters.

    In Conclusion

    By now, you may have made up your mind to start building relevant legal videos to advertise your firm. You can use simple tools like VideoCreek’s invitation maker to build good and impactful videos.

    The time and effort which you invest in building these videos will certainly bring back a host of benefits for your legal firm. It is only a matter of time before your client base increases by scores after you start using video advertising.

  • JPMorgan – One Of The Largest Financial Holding Company

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    JPMorgan(John Pierpont Morgan) Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the seventh largest bank in the world by total assets, with total assets of US$3.213 trillion.

    It is also the world’s most valuable bank by market capitalization. As a “Bulge Bracket” bank, it is a major provider of various investment banking and financial services. It is one of America’s Big Four banks, along with Bank of America, Citigroup, and Wells Fargo.

    JPMorgan – Company Highlights

    Startup Name JPMorgan Chase & Co.
    Headquarters New York City, New York, U.S.
    Industry Financial services
    Founded December 1, 2000
    Founder Balthazar P. Melick(Chemical Bank), John Pierpont Morgan(J.P. Morgan & Co.), Aaron Burr(The Manhattan Company) and John Thompson(Chase National Bank)
    CEO Jamie Dimon
    Areas Served Worldwide
    Website www.jpmorganchase.com

    JPMorgan – About and How it Works?
    JPMorgan – Logo and its Meaning
    JPMorgan – Founder and History
    JPMorgan – Mission
    JPMorgan – Business Model
    JPMorgan – Revenue and Growth
    JPMorgan – Investments
    JPMorgan – Acquisitions
    JPMorgan – Competitors
    JPMorgan – Challenges Faced
    JPMorgan – Future Plans
    JPMorgan – FAQs

    JPMorgan – About and How it Works?

    JPMorgan Chase & Co. is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

    It operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management.

    The Consumer and Community Banking segment serves consumers and businesses through personal service at bank branches and through automated teller machine, online, mobile, and telephone banking. The Corporate and Investment Bank segment offers a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services to a global client base of corporations, investors, financial institutions, government and municipal entities.

    The Commercial Banking segment delivers services to the U.S. and its multinational clients, including corporations, municipalities, financial institutions, and non-profit entities. It also provides financing to real estate investors and owners as well as financial solutions, including lending, treasury services, investment banking, and asset management. The Asset and Wealth Management segment provides asset and wealth management services.

    JPMorgan – Logo and its Meaning

    Logo of JPMorgan Chase & Co.
    Logo of JPMorgan Chase & Co.

    The geometry of the emblem and its colours stood for confidence, loyalty, professionalism, and unity, and showed the bank as a strong financial organization with its customers as the main value.

    JPMorgan – Founder and History

    JPMorgan Chase, in its current form, has its roots in more than 1,200 predecessor banks, including major heritage firms JP Morgan, Chase Manhattan, Chemical Bank, Manufacturers Hanover, Bank One, First Chicago, and National Bank of Detroit. These entities all played a significant role in the growth of the US and global economies. The earliest of the Company’s predecessor companies was The Bank of the Manhattan Company, which was established in 1799 by Aaron Burr as only the second commercial bank in the US.

    JPMorgan Chase is built upon numerous mergers and acquisitions. Arguably, the most significant of these was the 2000 merger between JP Morgan and Company and The Chase Manhattan Corporation, which effectively combined four of the largest and oldest banking institutions in New York City – JP Morgan, Chase Bank, Chemical Bank, and Manufacturers Hanover – to form JP Morgan Chase and Company.

    JPMorgan is now one of the largest banking institutions in the world. It is ranked 23rd in the Fortune 500 list and 5th in the Forbes 2000 list. The Company trades its shares on the New York Stock Exchange and has a current market capitalization of $243.59 billion.

    JPMorgan – Mission

    JP Morgan’s mission statement says, “JPMorgan provides a range of banking and financial services to consumer, corporations and public institutions, with the aim of enhancing their financial wellbeing and helping to effectively manage their finances.”

    JPMorgan – Business Model

    JPMorgan Chase organizes its activities into core major reportable business segments

    • Consumer and Community Banking, which provides consumers and businesses with consumer and community banking services – such as deposit, lending and investment products – through personal service at bank branches and through automated teller machines, online, mobile and telephone banking;
    • Corporate and Investment Bank, which provides of banking and markets and investor services, including a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services, to corporations and institutions worldwide;
    • Commercial Banking, which provides delivers industry knowledge, expertise, and advisory services to commercial clients, as well as financing to real estate investors and owners; and
    • Asset Management, which provides investment advisory and wealth management services.

    JPMorgan Chase also operates a Corporate segment, which comprises the activities of corporate staff units.


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    JPMorgan – Revenue and Growth

    JPMorgan Chase generates revenue through the provision of various banking and financial services and products. Revenue is derived principally through fees and commissions imposed upon customers in relation to the Company’s services, including advisory, investment banking, management, and underwriting fees.

    The Company’s largest portion of revenue was derived from asset management, administration, and commissions, which amounted to $15.51 billion for the year.

    JPMorgan Chase revenue for the quarter ending September 30, 2020 was $30.834B, a 14.79% decline year-over-year.

    Year Amount Percentage Change from Last Year
    2019 $142.422B +9.5%
    2018 $130.07B +13.52%
    2017 $114.579B 7.7%

    JPMorgan – Investments

    JP Morgan Chase has made 144 investments. Their most recent investment was on Nov 9, 2020, when NovoCure raised $150M.

    Date Organization Name Round Amount
    Nov 9, 2020 NovoCure Post IPO Debt $150M
    Jul 28, 2020 Pharmapacks Private Equity Round $150M
    Jul 18, 2020 Contemporary Amperex Technology Post IPO Equity CN¥19.7B
    Jun 25, 2020 Capital Markets Gateway Series B $25M
    Jun 22, 2020 Cedar Debt Financing $25M
    Jun 4, 2020 Cloud9 Technologies Series B $17.5M
    Mar 23, 2020 iCapital Network Venture Round $146M
    Mar 3, 2020 The Joint Post IPO Debt $7.5M
    Feb 3, 2020 Launch NY Grant $300K
    Jan 17, 2020 Arcesium Corporate Boy

    JPMorgan – Acquisitions

    JP Morgan Chase has acquired 10 organizations. Their most recent acquisition was InstaMed on May 17, 2019.

    Acquiree Name Date Amount About Acquiree
    InstaMed May 17, 2019 InstaMed simplifies healthcare payments for providers, payers, and consumers
    WePay Oct 17, 2017 $400M WePay is the payments partner to the platform economy
    J.P. Morgan Cazenove Nov 19, 2009 J.P. Morgan Cazenove is a leading investment bank focused on mergers & acquisitions, debt and equity placements and equity research
    Washington Mutual Sep 26, 2008 Washington Mutual is a savings bank holding company providing consumer banking and financial services
    Bear Stearns Mar 17, 2008 Bear Stearns is an investment banking, securities trading and brokerage firm
    Xspand Mar 1, 2008 Xspand is a provider of revenue solutions that focuses on purchasing, servicing and securitizing municipal tax liens
    Collegiate Funding Services Dec 15, 2005 Collegiate Funding is a vertically integrated education finance company that markets, originates, finances and services education loans
    Neovest Holdings Jun 23, 2005 Neovest Holdings an independently operated technology company providing a comprehensive suite of global broker-neutral financial services
    Bank One Jan 15, 2004 $58B Bank One is a Chicago-based multibank holding company providing many banking and financial services
    Hambrecht & Quist Sep 28, 1999 $1.4B Hambrecht & Quist is an investment bank that focuses on the technology and internet sectors

    JPMorgan – Competitors

    The top 10 competitors in JPMorgan Chase’s competitive set are Citi, Goldman Sachs, Bank of America, Morgan Stanley, Capital One, Credit Suisse, Fidelity, Wells Fargo, American Express and HSBC.


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    JPMorgan – Challenges Faced

    “We do not worry about the stock price in the short run,” Dimon (CEO) said. “If you continue to build a great company, the stock price will take care of itself.”

    • Economic risks on the horizon – The excessive disruption in the financial markets at the end of 2018 was “a harbinger of things to come,” as investor sentiment remained precarious.
    • Because of divisive politics, America was unable to keep pace in a new world – The federal government was becoming less relevant to what is going on in people’s lives, Dimon said. As a result, people lost faith in their politicians’ ability to deliver on their promises and meet societal needs.
    • American leadership and engagement on the world stage is “indispensable” – Dimon said one of the biggest uncertainties in the world is what role America is currently playing. He said that while there are many problems with international organizations, such as the North Atlantic Treaty Organization (NATO), the World Trade Organization (WTO) and the United Nations (UN), the world is better off with these institutions, and the U.S. should engage and exercise its power and influence “cautiously and judiciously.
    • Regulation isn’t all bad, but too much of it isn’t good – Dimon said current “excessive” regulation has reduced growth and business formation for the company, without making the economy safer or better.

    “The ease of starting a business in the United States has worsened, and both small business formation and employment growth have dropped to the lowest rates in 30 years,” Dimon wrote.

    • JPMorgan Chase is “all in” on the cloud and AI, but not on stock buybacks – Dimon acknowledged that he was “partially responsible” for the bank being slow to adopt the cloud, because his early thinking was that it was just another term for outsourcing. He also said the power of artificial intelligence and machine learning is “real,” and are “rapidly being deployed” across virtually every aspect of the bank’s business. Since that makes some employees redundant, the bank is looking to retrain and deploy those employees for other roles inside and outside the company.

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    JPMorgan – Future Plans

    • 17,000 Job Cuts- Even the country’s largest bank needs to cut back on employees. Executives said JPMorgan would eliminate about 17,000 positions over the next two years, including about 4,000 through attrition this year in its consumer bank.
    • 13,000 to 15,000 Mortgage Cuts- Most of JPMorgan Chase’s job cuts will come through lay-offs and attrition in its mortgage operations over the next two years, as the industry moves past the worst of the foreclosure crisis and has less need for servicing employees.
    • 100 New Branches- Even as it cuts some branches, JPMorgan Chase is expanding. The bank plans to add about 100 branches to its total over each of the next two years.
    • 500,000 ‘Digital’ Customers- A growing number of JPMorgan Chase customers are opting for mobile and online technology over branch visits. About 500,000 bank customers per month are going digital, executives said.
    • New Partnership- JPMorgan used the day to announce a new partnership with Visa. Executives said the deal will allow the bank to negotiate directly with merchants over how they process Chase credit and debit cards.

    JPMorgan – FAQs

    What does JP Morgan do?

    JPMorgan Chase & Co. is a global financial service that provides services including consumer banking, investment banking, commercial banking, and asset management for individuals, corporations, institutions, and governments globally.

    Is JP Morgan and JP Morgan Chase the same?

    JPMorgan Chase & Co. is the parent holding company of Chase(Commerical Bank) and JPMorgan(Investment Bank).

    Is JP Morgan the largest bank?

    JPMorgan Chase & co. is America’s one of the largest bank.

    What is JP Morgan’s full name?

    John Pierpont Morgan is JPMorgan’s full name.

    How does JPMorgan make money?

    The company operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management.