blockchain

A blockchain company should be hired to facilitate the transition from legacy financial systems to crypto currency based transactions which are immutable and decentralized.

Tightening the scrutiny of token issuances has made the crypto space more reliable for the participation of traditional investors

Carriers in the blockchain ecosystem provided by HashCash Consultants gain a competitive edge by attaining timely insights from encrypted data in a cost-effective manner.

Corporate Payments based solutions that are being provided by banks and FinTech companies help corporate organizations as well as small and medium-sized business institutions to achieve transparency, simpler processing, and operational efficiency. Regulatory changes, globalization and the liberalization of trade have increased foreign client base for different business organizations thus compelling more cross border payments. Coming with advantages like bulk payments, transparent pricing and full traceability, Corporate Payment based products lie on top of the preferred list of payment solutions.

The Blockchain perspective on the Corporate Based Payment solutions is deeply embedded with the concept of a shared ledger or public network that contain within itself minute details about each transaction. Immutable in nature, these transactions form blocks of data where each datum has been stamped with a timestamp and a digital signature, both validating and authorizing the transactional details. Transforming the nature of businesses and multiple lives, Blockchain technology eliminates the human nature of commerce, finance, and banking by drastically lowering the chances of human errors. The SEC and FCA regulations that are soon to be implemented around cryptocurrencies circulation give new hope to Blockchain technology.

Read more:  Rising Popularity of Crypto Payment Processors in SA

HC Corporate Payment- A HashCash Consultants Product

The California based company HashCash Consultants enables enterprises to move assets and settle payments across borders in real-time using Blockchain technology. The HC Corporate Payment, a HashCash initiative, is a Blockchain powered payment platform that simplifies B2B payments. The HC Corporate Payment platform lets users enjoy real-time document sharing, instant reconciliation, and automation through the implementation of Smart Contracts. By digitizing the end to end trade process, it unites all the involved parties on a single platform which simplifies IT infrastructure as well as lower operational costs. It also reduces processing time by facilitating instant settlements through a secure, online exchange of documents. While live tracking of account balance lets organizations manage working capital efficiently, HC Corporate Payment also automatically allows reconciliation of transactions with other financial institutions. Backed up by Blockchain technology it protects crucial data with immutability and encryption.

HC Corporate Payment lets users share trade and shipping documents securely through encryption while also making online purchase order and invoice creation super-efficient. With this platform, banks can now instantly settle and verify payments while concomitantly being able to involve other trading organizations.

With promising prospects, the HC Corporate Payment platform is being used by Central banks, clearing houses and Corporate houses for financing trade, settle vendor payments, build new clearing systems and wage disbursements.  With unprecedented benefits, HC Corporate Payment platform would lead the way to establish trusts among all involved parties in a financial transaction while instilling transparency with the superpower of Blockchain technology.

The Insurance Industry, having to deal with millions of claims also struggle to meet ends when a plethora of data redundancy and false claims jeopardize its smooth function. Sieving through duplicate data to reach the most important ones, remains a time-consuming process that delays payments and opens channels for human error. Besides, always having to check record history manually also hampers the workflow of the insurer.

To mitigate such challenges, the Insurance Industry is already leveraging Blockchain technology, which uses its DLT or Distributed Ledger Technology to inject transparency and trust within the Insurance framework. Linked using cryptography, Blockchain is a growing list of transactional records which are stored with a timestamp for each transaction. Decentralized in nature, the data on the Blockchain network is immutable, meaning it cannot be tampered with. Here discussed, are some of the aspects of Blockchain Technology which would elevate the efficiency of the Insurance Industry.

Smart Contracts

Smart Contracts facilitate smooth functioning in the Insurance Industry, which is seeing a rise in personalized contracts. Smart Contracts let the Insurance Company save a ton of money and time while enriching the customer experience. Smart Contracts creates a flawless connection between real-time information from multiple systems that involve physical documents. It obligatory triggers processes like reimbursements, claims, and payments with high accuracy.

Blockchain and Big data

Insurance companies are exposed to a lot of data that are a direct cause of many devices which generate numerous customer information every day. To sort through the data is a real challenge for policy managers. Large amounts of data, on the other hand, can be monetized, managed or shared through Blockchain. The Blockchain is able to store data without a central authority controlling it. Besides, it can also store static records that can be viewed by all the parties involved. Using a date and time stamp, Blockchain creates a digital fingerprint that lends both transparency and security to the streamlined data.

Blockchain Provides Security

Blockchain technology would eliminate duplicate transactions and suspicious transaction initiations by the use of the public ledger, which logs in each transaction. The decentralized digital repository that Blockchain boasts helps to verify the authenticity of policies, customers, and transactions by validating data with a database of historical records. This constant data validation prevents hackers from corrupting and stealing files.

Handling Third Party Transaction

Blockchain mainly helps to reduce the cost of administration through the automated verification process. It can automatically validate and verify payments and claims from the third parties, which are made through digital devices. This process enables the Insurance Company to quickly have a glance at the past transaction records and claims payments. By having an explicit reference of past transactions, it is easier for the insurer and customer to be tied by a relationship of trust and transparency.

Reinsurance

Blockchain provides accurate reserve calculations depending on currency contracts, which can significantly uplift the framework of the reinsurance world. Presenting an array of benefits for property and casualty insurers, it keeps the insurers updated about the availability of money. Rebalancing the exposure against specific risks is mandatory which is reinforced by Blockchain to restore confidence within the Insurance Industry.

Insurance Companies such as Zurich, Munich Re, Aegon, Allianz, and Swiss Re have already started investing in Blockchain to yield the benefits through the B3i initiative. Blockchain technology lets the Insurance Industry indulge in better service for clients that are presented in a faster, more accurate and transparent manner.

A robust and expanding financial sector has placed Australia’s fund management industry in the higher rungs of the global hierarchy of investment markets. In order to enhance efficiency in an industry that demands working with tomes of documents, coordinating with multiple financial institutions, and ongoing client verification processes, investment firms are giving their infrastructure a high-tech makeover. Software development companies, such as Silicon Valley-based HashCash Consultants, are playing a significant part in accomplishing this goal.

HashCash for Blockchain Investment Management

Managing and reconciling investment vehicles – be it low-risk like bonds and certificates of deposit, or high risk such as stocks, options, and futures – is streamlined by the blockchain solutions provided by HashCash Consultants. The blockchain experts set up and install products suited to the client’s IT infrastructure system and in line with their data security and compliance policies. The company’s primary offering is a customized securities trading exchange platform that allows the mutual funds’s corporate clients to issue their own securities. The exchanges are equipped to handle order types such as Limit, Market, Stop loss, Basket trading, Margin, Futures, Options and more.

The securities exchange platform by HashCash has proven to be a popular choice among Fund Management companies with securities such as investment funds, REITs, commodities, and others being listed on them around the world.

The securities exchanges created by HashCash Consultants are built using the distributed ledger technology, and thus enables real-time reconciliation of titles. The blockchain platform provides a tamperproof ecosystem to store and update investment portfolios with each transaction validated by smart contracts, a pre-programmed computer protocol.

HashCash Consultants provides a private blockchain network for its clients which will also tokenize the Security titles. The Securities Trading Exchange that is set up communicates with this blockchain network in managing the dynamic allocation of the Titles of the securities as trading happens on your exchange.

“Low-cost stock and options trading with the highest privacy and security is now possible with HashCash’s Securities Trading Platform” illustrates Raj Chowdhury, MD of HashCash Consultants. “You can on-board accredited investors on your exchange through an automated validation process. Moreover, users will have advanced analytics and risk management modules at their disposal, such as a dynamic doughnut and other charts. For example, one can click a sector on the chart and the chart adjusts to show the sector composition based on market cap.”

Benefits of blockchain in investment management

A survey by a leading investment institute in Washington confirmed Australia to be the largest funds management industry in the Asia-Pacific region, and sixth on the list of global leaders in the field. Naturally, Australian wealth managers are one of the first to recognize the immense potential of blockchain in their operations.

Organizing a US$275 billion worth of alternative assets, and US$1.6 trillion worth of managed fund assets could see a makeover in the following ways: 
The highly flexible technology could make the client on boarding process hassle-free, streamline management of model portfolios, expedite settlement of trades, and alleviate compliance burdens entailing anti-money laundering (AML) and KYC. Blockchain can enhance or even replace traditional systems, such as ACH and ACAT, eliminating redundant functions. Since transactions made within a blockchain network does not rely on any third party for authentication, operational expenses too are significantly reduced, and the process simplified resulting in enhanced client experience.

These concepts can be extended to encompass rollovers, trusts, estates, insurance and other transactions that necessitate movement of assets between parties or settling of contracts. Not only does blockchain enable near-instantaneous transfer of assets between financial institutions, but it also makes tracking of the change of hands of those assets easy.

Blockchain and Australia’s managed Funds Industry

The Australian fund industry is speculated to grow from strength to strength driven by a sophisticated investor base, an efficient financial system, and the development of cutting-edge investment products. Such a robust financial and regulatory environment as seen in this location is ideal for the propagation of amalgamation of tech with financial systems already in existence, as will be evinced by the increasing implementation of blockchain in this sector.

About HashCash Consultants

HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US-based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.

The video gaming industry is highly competitive as well as a very lucrative one. New gaming companies are cropping up in the UK –which is also the fifth largest market for video games globally in terms of consumer revenues – with rapidity. In a race to stay ahead of the next video game that is released, game developers are tying up with software development companies to create brand new features. This trend of collaborations between two of the most prolific industries in the tech-sector has California based blockchain company teaming up with a leading video games producer in the United Kingdom to provide it with a state of the art blockchain gaming platform.

Video Game industry in the UK

Given that some of the most monumental productions to have ever become a part of the gaming world originate in the UK, it is well expected that the region would be one of the pioneers to adopt any promising new technological innovation like blockchain.

A survey done in June 2018 revealed that 2,261 games companies of every size and scale were active in the UK, and 62% of those were established since the beginning of 2010. Their products can be operated across the full spectrum of games technologies, including mobile, PC and console, swiftly developing sectors such as VR/AR, and esports.

Roughly 32.4m people in the United Kingdom play video games, which is a considerable chunk of the 2.6 billion global games audience, and they spent a record £5.11bn in 2017 on gaming up 12.4% from 2016 (£4.33bn). The growth spurt in the software industry is speculated to continue, making this an opportune time for the UK games industry to ride the wave and experiment with new technology.

Blockchain Gaming Platform by HashCash Consultants

The blockchain gaming platform by HashCash allows the diversification of the gaming experience like never before, while simultaneously providing a secure gaming ecosystem. The MD of HashCash Consultants, Raj Chowdhury, explains, “The decentralized distributed technology facilitates higher interoperability of gaming items (which are sometimes valued in thousands of pounds), which can be instrumental in creating a multiverse experience. This is just one of the many ways blockchain can revolutionize how we experience gaming in the present day.”

A blockchain, by nature, is immutable and makes for safe storage of scores and in-game transactions. HashCash Consultants has a strong presence in the financial sector, and is an expert in cryptocurrencies. Games companies can choose to create a brand new native digital asset or integrate their existing digital coin to operate on the blockchain network set up by HashCash. Executing transactions using cryptocurrencies has several pros, especially in its ability to curb rampant fraud in online gaming.

HashCash adds another facet to monetization methods of the gaming world which mainly relied on in-game transactions and participation fees. The blockchain company sets up a cryptocurrency exchange for the gaming platform where one can trade cryptocurrencies. The risk involved in earning profits via trade is not high, given the enhanced liquidity of cryptocurrencies in general.

Future of blockchain and gaming in the UK

2017 recorded £3.56bn in sales, making it a benchmark year for games software. This encompassed both Digital and Online sales (£1.6bn, +13.4%) and Mobile Games, which. For the first time in history achieved revenues over £1bn.

One must remember that even though the gaming industry rakes in billions of dollars, many of the participants are children who are unable to venture too far into video games. This is because transactions within games are expensive, mainly due to processing fees that necessitate services from third parties such as banks and other payment processors. Blockchain resolves this issue as well, making gaming more affordable. This itself is a strong enough factor to make DLT a mainstay of online gaming.

About HashCash Consultants

HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.

 

Source: http://www.prweb.com/releases/hashcash_unveils_its_blockchain_gaming_platform_in_the_robust_uk_market/prweb16007687.htm

The Insurance Industry has gone through significant transformations as opposed to its byzantine framework in the past decade. Consisting of constant risk management factors, this particular industry is associated with policyholders, from whom the Insurance Industry collects a fixed amount which is known as the Premium. Insurance companies mostly use the policy premium to invest in low-risk projects which helps the Insurance Company to reimburse the money, once the policy matures.

The Insurance Industry is ridden with an array of hazards that possess a crucial threat to internal management and growth. For example, many of the paperwork that takes place every second, between policyholders and brokers need human supervision that makes it all the more prone to error and redundancy. There has been a rise in the number of presence of online brokers, yet many people choose to be physically present with brokers while purchasing an Insurance policy. Signing multiple paper contracts increase the chances of errors that may occur while processing claims or payments. A complex amalgamation of brokers, consumers, reinsurers, insurers make it susceptible to give birth to points of failures which jeopardize the whole framework of the system. Policies are often misinterpreted, settlement times are lengthened and the information is lost in the labyrinth of multiple human involvement nodes.

Complicated compliance issues, handling and mingling with vast amounts of data, third party payments and transactions along with fraudulent claims activity all make the Insurance Industry a mélange of various risk factors. The Internet of Things (IoT) has given birth to large volumes of data, through which the insurer single-handedly is supposed to separate legitimate documents. The insurers require complete visibility of data that would not only help them to deal with loss compensation policies but also with physical risk prevention policies. In a pool of rising fraudulent claims, it is also crucial for the Insurance Industry to secure confidential data. Above all, the digital movement of money and online transactions have pushed insurers to find ways through which they can secure financial transaction data in an unadulterated manner.

Enter Blockchain, the nouveau technology that has been conceptualized by Satoshi Nakamoto. Blockchain uses a peer to peer network which is utilized while time stamping and verifying each exchange that would be added as blocks in the distributed ledger that is Blockchain per se. The Blockchain network system stores a secure history of data exchanges that are managed without any central authority, autonomously. The Blockchain is abled with a vast void where all data and exchange records are stored.  Being a distributed system, a peer to peer network of nodes help Blockchain to verify each transaction. All transactions that are being stored on the Blockchain network comes with a unique ID, a timestamp, a public key, and a digital signature.

An inherent feature of Blockchain is the Smart Contract, which lets insurers avoid the services of middlemen and process policies in a conflict-free manner. Smart Contracts define the penalties and rules around an agreement while it also enforces obligations surrounding any particular agreement. Raj Chowdhury, the Managing Director of HashCash consultants, a California based company reaffirms:

“Smart Contracts beckon a new dawn for the Insurance Industry as it can help improve the data quality which is used during underwriting. It would alleviate paperwork and improve efficiency by creating streamlined methods where genuine claims would be paid out on its own.”

Smart Contracts would help minimize fraud as well as help the insurers to verify data more quickly while enabling them to handle data securely. It would change the value propositions of the insurer as well as improve the way insurers deal with clients. Smart Contracts may excuse insurers from handling cumbersome legal paper works by the usage of Blockchain that helps Smart Contracts to execute, facilitate and enforce negotiation of an agreement.

Smart Contracts would elevate the quality of transaction processing by digitally enabling the contracts. Apart from making it highly responsive and transparent, Smart Contracts would also record contracts on the Blockchain network, have it validated by a reputed authority, only to ensure that the most genuine claims are being paid.

The USD$7 billion plus remittance industry in Australia is on the rise, but charges related to the service are high and have become a problem area for those who use it the most. California-based blockchain company HashCash Consultants plans to introduce its product – HC Remit – to the Australian remittance market to make the process of executing cross-border money transfer more affordable.

For decades, Australia has been the top destination for a steady influx of migrants in its part of the world. Globalization of workforce has led scores of foreign nationals to seek employment on Australian shores. The demand for a convenient, quick to access remittance system has largely been attributed to them.

The current systems in place leave much to be desired. It’s expensive, takes days to process, and often requires a person to hold an account with the bank through which the transfer is to be made. The difficulties relating to this system is extended to the receiver’s end as well, mainly because most of the remittances (70% of the total) are sent to rural or less developed regions which may be bereft of traditional banking facilities. The high fees paid by migrants for making remittances have become a point of concern for Australian and international policymakers.

This has brought to the forefront the scope for broader collaboration between deposit takers like banks and HashCash Consultants. The blockchain company’s product HC Remit is one of the most widely used tools implemented by banks to transfer remittances using cryptocurrency. HC Remit operates on HC Net, carrying out currency transfers in a fraction of the time taken by traditional methods to do the same, and at much lower costs. It successfully replaces EOD recon with real-time reconciliation of transactions, and can be used to track and record asset and currency movement across borders.

Currently, the majority of international remittances transmitted by Australian banks go through the SWIFT network in the form of transfers from one bank account to another and as international bank drafts. HC Remit eliminates the processing cost of SWIFT, replacing it with free SWIFT-like blockchain based messages which integrate seamlessly with the banks’ current infrastructure.

Other benefits of using cryptocurrency for remittances include easy accessibility in hard to reach places, transparency and traceability of virtual coins, and immunity of the value of crypto coins from fluctuating according to geopolitical regulations.

Australia has been exemplary in leveraging the benefits of immigration and this has significantly propelled prosperity at home and in the native countries of the immigrants. This is true especially in the case of the financial and social economies of the APAC countries such as the Philippines. This nexus between finance, technology, and geopolitics, not only makes Australia one of the primary nations to see a growth in the use of blockchain and cryptocurrency, but also developing region the next big stop for DLT to flourish.

About HashCash Consultants

HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US-based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.

 

Source: https://markets.businessinsider.com/news/stocks/hashcash-plans-to-make-remittance-more-affordable-for-australia-philippines-corridor-1027773961

Dubai, the Middle Eastern city known to be shoppers’ paradise, is expanding its fare to e-commerce, diversifying the shopping experience for enthusiasts. This is materializing with businesses collaborating with software development companies to incorporate innovations like blockchain into their operations. California-based blockchain expert HashCash Consultants is one such organizing roped in by the private sector. The company is implementing its product, HC Corporate Payment, to facilitate payments by cryptocurrency on the retail chain’s online platform.

Currently, the e-commerce market in UAE is underdeveloped, since the online shopping represents only 2% of the retail sector in the Middle East, compared to 15% in most developed western markets. It is a sector that is predicted to quadruple in the next two years. The competition will drive market growth, widen options for consumers, and increase consumer purchasing. E-commerce in UAE was valued at US$ 2.5 billion in 2014 and is speculated to reach US$ 10 billion in 2018. The market is expected to grow at 35% to 24 billion by 2020.

HC Corporate Payment is set to make B2B payments seamless, and enable real-time document sharing, instant reconciliation, and automation through smart contracts. It runs on the blockchain powered HC Net and digitizes the end-to-end trade process, uniting every participant on a single network. This drastically cuts down processing time and cost.

The other upside of taking retail to a blockchain platform is that it provides the option of making payments with cryptocurrency. Unlike fiat currency, each cryptocurrency has a unique identity which makes it impossible to duplicate. This property allows the owner of the cryptocurrency to track their money in the network at any given time. These transactions are validated using smart contracts, and its details are stored in the distributed ledger on a permanent basis. Reconciling transactions with other financial institutions is automated by HC Corporate Payment.

The private sector in Dubai is one of the most promising locations for the adoption of blockchain, largely because of the Smart Dubai initiative launched by its government. This step has propelled blockchain to be implemented in various sectors in the city, and instilled a trust in the fairly new technology which would have taken a longer time to see widespread acceptance in the region.

About HashCash Consultants

HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US-based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and white label payment processor, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.

 

Source: https://markets.businessinsider.com/news/stocks/hashcash-will-boost-e-commerce-in-dubai-with-hc-corporate-payment-1027753781