Everyone’s probably heard of “bitcoin,” but many only have the vaguest idea about it and little understand the underlying technology. Even fewer realize the true impact this technology may have on the future. Bitcoin is a cryptocurrency. A cryptocurrency is a digital program or asset designed to work like currency. It seeks to have the following properties: a store of value, a unit of account, and a medium of exchange Bitcoin is the most popular cryptocurrency of the seven hundred out there. Other major cryptocurrencies are Ethereum, Ripple, and Litecoin.
Cryptocurrencies work via a system of paired-public, private keys - randomly generated numbers. Each user in the cryptocurrency network has a unique pair of public and private keys. The public key is a string of numbers available to everybody on the network. They are used for encryption. The private key is only available to an individual. It is used for decryption of the paired public key. The bitcoin transfer mechanism works…
The "Killer" Blockchain Application? On February 14, four witnesses (an analyst in Cybersecurity Policy from the Congressional
Research Service, the director of NIST's Information Technology Laboratory, the vice president
of food safety of Walmart, the vice president of blockchain technologies of IBM
and the Associate Clinical Professor of Benjamin N. Cardozo School of Law) showed
up in 2318 Rayburn House Office Building, to testify about blockchain technology before the
Subcommittee on Oversight and Subcommittee on Research and Technology. The
witnesses answered questions from members of the two subcommittees. Summary
I attended this hearing and below are my summarized findings, in case you didn’t have the time to attend this mind-blowing hearing.
Mr. Chris A. Jaikaran, analyst in Cybersecurity Policy,
covered blockchain applications in cryptocurrencies, healthcare, identity management, and supply chain management. He discussed certain pitfalls of the technology.
Being a minority small business owner can be particularly challenging due to issues that other business owners don't face, like racial and gender discrimination, having low (or no) collateral and having a low credit scores. These factors definitely make it harder to finance a business. There are, however, resources that can help make financing your business easier, given these constraints.
Here are a few:
While we have not been impressed with the outcome of their efforts focusing on African American businesses, the Small Business Administration (SBA) offers services and programs you need to know about if you are looking to start or fund a minority business. To begin with, SBA’s 8(a) Business Development program is focused on small businesses that are 51% or more owned and controlled by members of disadvantaged subgroups by ethnicity or race. The program offers a plethora of business support services, including financial assistance, business counseling, and mentoring. Th…