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What is crypto winter and why does it matter?

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Looking at the most recent crypto news, veterans within the space would say that we are in a crypto winter. The term is used fairly often, but what does it actually mean? Crypto winter refers to crypto prices falling and staying low for an extended period of time. Top cryptocurrencies like Bitcoin have dropped 55% over the last year to around $20,000 per coin. Ethereum (ETH) and other leading altcoins, such as Cardano (ADA) and Polygon (MATIC), have lost over 60% of their value since last year. What does this mean for companies? Companies like Coinbase, BlockFi, and Crypto.com have announced hiring freezes and staff cuts in order to cut back costs. Hiring freezes are normally a sign that an organization is trying to deal with an economic downturn. What does this mean for developers and startups? Developers and startups are at a remarkable point with blockchain technology. The technology has not been integrated into all parts of society and continues to be very early in the financ
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The uses of Smart Contracts for Micro Businesses

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Small and micro businesses are the backbone of economies. Most businesses in economies start as SMEs. In Africa, it is estimated that SMEs employ 47% of the workforce, and their output is 20% of the country's gross domestic product. Although SMEs are an essential part of the economy, they still face many challenges. SMEs struggle with bank loans: almost 30% of these businesses shut down due to lack of funding. Blockchain opens new opportunities to SMEs to solve existing problems and enable them to optimize their businesses to operate more efficiently. One method of optimizing business using blockchain is the use of smart contracts. What are smart contracts? Smart contracts are automated programs that can carry out the terms of any contract. Parties involved make a deal, put the details of the agreement into code and create a blockchain. When the deadline is reached, the blockchain will notify the supplier to send the product from the agreement. The blockchain will also release the
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Blockchain: what is it and what does it really mean for Micro business?

What is blockchain? Blockchain is a public electric ledger that is built around a peer to peer network that can be openly shared between users to create an unchangeable record of transactions. Each transaction is time stamped and linked to the previous transaction. Each transaction that is added becomes another block in the chain. Once a new block is entered, it can never be erased, which makes all the transitions verifiable and auditable. The security and chronological order of the blockchain are enforced with technology called cryptography.  How does blockchain work? With transactions of bitcoin on the blockchain network, the bitcoin wallet keeps a piece of data unknown, which is called a private key or seed. This key is used to sign off transactions and provide proof that the transaction came from the owner’s wallet. The key also prevents anyone from altering the transaction once it has been issued. The transactions are broadcast to the network and are confirmed through a process ca
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Is peer to peer lending the future of investment banking?

  Over the years, peer to peer lending and fundraising has become more and more popular. Online platforms allow groups of people to pool small amounts of money together to raise funds for a specific cause. There is no limit with the peer to peer market and there are mutual benefits for all those involved.  Peer to peer services take place between two individuals directly without a third party intermediating. They occur on platforms that are decentralized and provide a vast number of services themselves such as: rating, screening, and payment processing. Peer to peer services can be as simple as buying and selling products.  It’s also called the sharing economy. Without a third party moderator, transactions may become unfair and services the provider is offering may be delivered at a lower quality than expected. This is why peer to peer platforms are necessary to facilitate these transactions and reduce the risk for both the seller and the buyer.  Platforms make revenue by making the bu
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