Continue with Bitcoin

Bitcoin has been and continues to be a cyberattack that has attracted the attention of many media over the past few years. Bitcoin was founded in 2009 by an unknown group or person who uses the pseudonym Satoshi Nakamoto and later known as the smallest unit of Bitcoin currency. This is the first and most widely known cryptocurrency. Bitcoin, which was initially only interested in the internet elite, has gained greater popularity in recent years and has shown itself in foreign currency.

How does Bitcoin work?

It may be difficult to understand the subtle details of how Bitcoin works, as it is not centralized as a conventional currency, but rather collectively endorsed by each user's network. No coins and notes, no bullion in a vault, but Bitcoin's supply is at its limit, stopping at 21 million. Every 25 minutes, 25 Bitcoin is found by Bitcoin 'miners' and every 4 years, the number of Bitcoins released will be reduced to the limit. This means that after 2140 there will be no more Bitcoins release.

Why do I need Bitcoin news?

Price has historically been very volatile, with significant peaks and slides at intervals. Recently, the price of a Bitcoin has increased 10-fold in just two months. When Bitcoin wallets rose sharply in 2013, several Bitcoin Millionaires were made. If you are saving a few bitcoins on your digital wallet or you want to submerge a finger, you really need to speed up with Bitcoin News. Trade Bitcoin is becoming increasingly popular in alternative or conventional currency trading, and more and more intermediary chains are growing.

Despite the gradual decline of Bitcoin discovery, interest in Bitcoin news continues. There is a real and permanent demand to the minute, reliable information on the value. Bitcoin has recently received strong support from PayPal, which will undoubtedly increase its credibility as a reliable alternative to ordinary banking cards or cash transactions on the internet and on the high street. This could go a way to calm Bitcoin critics, claiming that the system is used to approve or approve transactions called Blockchain and that it is sensitive and vulnerable to hackers' attacks.

Skyscrapers ABC – Concrete Boom Pumps

Over the years, the world has witnessed some fantastic buildings being built in such a short amount of time. Engineering has given engineers with some fantastic tools to handle various construction related tasks more easily.

When building a building from scratch, every step must be taken carefully. In all these steps, perfection provides a strong and healthy structure. From the ground up to the last touch, the builders can find equipment and tools for each job.

Once the gravel has been leveled and added, it is necessary to start from a large position to pour concrete. This particular step is the key determining factor when it comes to the strength of a building. Concrete pump trucks have been used for pouring concrete for a long time. Apart from concrete pump trucks, there are many choices engineers can make. The most popular Concrete Boom Pump among the various concrete pumps available in stores.

Effective and user friendly

Concrete Drilling Pumps: These pumps are used for the construction of high-rise buildings. The capacity of these pumps to reach 175 feet makes them the engineers' first choice. The loaded concrete boom pumps available in the markets are widely used as they help to accelerate the process of concrete casting.

Following worldwide recognition, manufacturers offer customers various options such as boom configurations, different pump sizes and remote controls. The truck is a concrete boom pump, a frame, a pump, and the only one that designs a truck. These units work together and help to spill concrete over a short period of time.

The appreciation of concrete boom pumps by people all over the world is in line with customer preference. Numerous brands and companies produce these pumps, and competition among them has forced them to sell these pumps at a decent price.

Other options for concrete casting

Other concrete casting devices include line pumps, air pumps, gunit pumps, and mud pumps. These devices also proved to be very useful, but none proved to be as effective as concrete boom pumps. You will also find skate mounted and reinforced concrete pumps. However, these pumps can only be used for mines and tunnels. Although concrete boom pumps are used for larger designs, other pumps are used for smaller scale structures, so you will choose a large number of concrete pumps depending on your needs.

If you want to buy a concrete pump, you can contact various manufacturers over the internet. The Internet is a great store for buying whatever you want, and the deals you often get online are far better than what you find in stores.

Login to Bitcoin

Bitcoin has been in the news for the past few weeks, but many people are still unaware of it. Can Bitcoin be the future of online currency? This is just one of the frequently asked questions about Bitcoin.

How does Bitcoin work?

Bitcoin is a type of e-currency (CryptoCurrency), which is independent of traditional banking and came into circulation in 2009. According to some of the best online traders, Bitcoin is the best-known digital currency that relies on computer networks for complex mathematical solutions. Problems to check and record details of each transaction.

The Bitcoin exchange rate is not dependent on the central bank, and there is no single body regulating cryptoCurrency delivery. However, the value of Bitcoin depends on the level of trust of users, because the more big companies accept Bitcoin as a payment method, the more successful Bitcoin will be.

The benefits and risks of Bitcoin

One of the benefits of Bitcoin is the risk of low inflation. Traditional currencies suffer from inflation and tend to lose their purchasing power every year as governments continue to use quantitative easing to stimulate the economy.

Bitcoin does not suffer from low inflation because Bitcoin is limited to only 21 million units. This means that the release of the new Bitcoins will slow down and the full amount will be released in the coming decades. Experts predict that the last Bitcoin will be produced by 2050.

Bitcoin is at risk of falling apart from traditional currencies that governments rely on. When currencies fall, it can cause hyperinflation or a sudden withdrawal of savings.

The Bitcoin exchange rate is not regulated by any government and is the digital currency available in the world.

Bitcoin is easy to carry. One billion dollars in Bitcoin can be stored in a memory stick and placed in one pocket. Bitcoins are easier to transport than paper money.

One of the disadvantages of Bitcoin is that it is inaccessible, because governments and other organizations are unable to find the source of your funds and therefore can attract some dishonest people.

How To Make Money With Bitcoin

Unlike other currencies, Bitcoin has three ways of earning money, trading and mining. Bitcoin can be sold in open markets, that is, you can buy and sell Bitcoin at a high price.

Bitcoin volatility

Bitcoin has fallen in recent weeks due to a sharp shutdown in Mt. Gox, the world's largest Bitcoin exchange. According to unconfirmed sources, trade was suspended due to theft, which is said to cost more than 744,000. The event has affected investors' confidence in virtual currency.

According to the Bitcoin table, the Bitcoin exchange rate rose to more than $ 1,100 in December last year. This was when more and more people became aware of the digital currency and what happened next to Mt. Gox happened and cost about $ 530.

Expect Stephen Pair, co-founder of BitPay and CTO co-founder in 2014, to expect the biggest growth in China, India, Russia, and South America.

India is already listed as the next popular market where Bitcoin can move. Africa can also benefit greatly from using BTC as a currency exchange so as not to have a central banking system or any other country that relies heavily on mobile payments. The Bitcoin expansion in 2014 will be led by Bitcoin ATMs, mobile applications and tools.

World Experience Bitcoin

More and more people are embracing the use of Bitcoin, and supporters hope that one day digital currency will be used by consumers for online shopping and other electronic transactions. Large companies have already accepted payments using virtual currency. Some big companies, among others, include Fiverr, TigerDirect and Zynga.

The future of Bitcoin

Bitcoin works, but critics say it is not ready to be used by the mainstream because of the volatility of digital currency. In the past, they also point to the hacking of Bitcoin exchanges that has resulted in the loss of several million dollars.

He said there are more new exchanges controlled by supporters of digital currencies, financial experts and venture capitalists. Experts added that the virtual currency system is still optimistic and the projected growth is great.

I hope this article has helped all of you to better understand Bitcoin, potential, Bitcoin and how Bitcoins work. Subscribe to our blog posts for more articles on Bitcoin, weekly trends, information and updates.

Failure to change means business loss

A worm should look smarter than a bird, and look back and laugh at how close the business is to the work.

Retrospect
RFP (Proposal Request) A new contract proposal came out two years ago. Six months leading time, great activity, lots of meetings. You know the drill. At $ 1.1 billion, we were sure we would be able to meet the giant competitors. The last date has come: no announcement has been made. We heard "some legal dispute". No surprise. There is a lot to do with high dollar deals. Several months have passed. No announcements are made yet. Two-year extension, correction and more questions. Announce the end. We lost.

Leadership
The best person to lead our parade was the Supply Guy, which looks weird for a repair department. (It must have been politicized.) He said that he was thoughtful and highly intelligent, the commander was the best fit for the second, was silent and dedicated, and at first impressed me as a bean count. It was more difficult to get to know him, but I came to like him.

Fight
Then there was a dispute between our boys about what the client wanted. There they got two different camps, the wrong camp. Both leaders have adapted well to their tasks, but when it comes to adapting to the needs of a new client, it seems that their decisions are based on the needs that have undergone drastic changes from the past.

Adaptation was the key to this agreement
The same world is no longer the same since the last agreement signed ten years ago. 9/11 happened, and it took some time for everyone to finally raise awareness of the potential dangers hidden there. Requirements have changed – more serious, urgent. The types of stress that violated the original contract had the potential to jeopardize our offer. With a new contract for bid, management was in a worse position to respond to the challenge. Could not change with the new agenda put on the client by the client. The retirement of a key person raised a number of people, and as a result, options were made to fill the vacancies. You can decide whether the customer's choices are discreet and in the best interests of the customer.

The contract price had nothing to do with the loss
• The contract was lost because no one was invested above the average management level;
• The leader of our team retired shortly before the award was announced.
• Controls and low echelon warnings were ignored.
• RFP developers did not understand their client's needs because they were not trained in the subtleties of the program and did not participate in consultation with anyone.
• The customer asked for their needs and did not respond to our requests by pointing out the shortcomings (in their eyes) similar to our current activities.

I think we have defined failure in a big way. He said he would be the biggest teacher, and there should be no learning loss.

Zimbabwe Banking Sector Overview (Part One)

Entrepreneurs build their business in the context of an environment that they may sometimes not be able to control. The robustness of a business venture is tried and tested by the vicissitudes of the environment. Within the environment, there are forces that can serve as great opportunities or threatening threats to business enterprise survival. Entrepreneurs need to understand the environment in which they operate in order to exploit emerging opportunities and mitigate potential threats.

This article serves to create an understanding of the forces at play and their effects on banking entrepreneurs in Zimbabwe. A brief historical overview of the banking sector in Zimbabwe is given. The impact of the regulatory and economic environment on the sector is assessed. An analysis of the structure of the banking sector facilitates an appreciation of the underlying forces in the sector.
Historical context

In independence (1980), Zimbabwe had a sophisticated banking and finance market, with mostly foreign-owned commercial banks. The country had a central bank inherited from the Central Bank of Rhodesia and Nyasaland in the settlement of the Federation.

In the early years of independence, the Zimbabwean government did not interfere with the banking sector. There was no nationalization of foreign banks or restrictive legislative interference over which sectors to finance or the interest rates to charge, despite the national socialist ideology. However, the government bought some stakes in two banks. It bought 62% of Nedbank's Rhobank at a fair price when the bank withdrew from the country. The decision may have been motivated by a desire to stabilize the banking system. The bank has been renamed as Zimbank. The state did not interfere much with bank operations. In 1981, the state also partnered with the International Credit and Trade Bank (BCCI) as a 49% shareholder of a new commercial bank, the Zimbabwe Credit and Trade Bank (BCCZ). This was taken over and converted at the Commercial Bank of Zimbabwe (CBZ) when the BCCI collapsed in 1991 due to allegations of unethical business practices.

This should not be viewed as nationalization, but in line with state policy to prevent business closures. The holdings in Zimbank and CBZ were subsequently diluted to less than 25% each.
In the first decade, no indigenous banks were licensed and there is no evidence that the government has any financial reform plans. Harvey (s, page 6) cites the following as evidence of the lack of a coherent financial reform plan in those years:

– In 1981, the government stated that it would encourage rural banking, but the plan was not implemented.
– In 1982 and 1983, a Money and Finance Commission was proposed but never constituted.
– In 1986, there was no mention of any financial reform agenda in the National Five Year Development Plan.

Harvey argues that the government's reticence to intervene in the financial sector could be explained by the fact that it did not want to compromise the interests of the white population, of which the banking sector was an integral part. The country was vulnerable to this section of the population because it controlled agriculture and manufacturing, which were the basis of the economy. The state has taken a conservative approach to indigenization by learning a lesson from other African countries whose economies have almost collapsed due to the forced eviction of the white community without first developing a mechanism for skills transfer and empowerment in the black community. The economic cost of inadequate intervention was considered too high. Another plausible reason for the policy of nonintervention was that the state, in independence, inherited a highly controlled economic policy with rigid exchange control mechanisms from its predecessor. Since foreign currency control affected credit control, the government, by default, had strong sector control for economic and political purposes; therefore, it did not need to interfere.

Financial reforms

However, after 1987, the government, at the request of multilateral creditors, initiated an Economic and Structural Adjustment Program (ESAP). As part of this program, the Reserve Bank of Zimbabwe (RBZ) has begun advocating for financial reforms through liberalization and deregulation. He argued that the banking oligopoly and lack of competition deprived the industry of choice and quality in service, innovation and efficiency. As a result, as early as 1994, the RBZ Annual Report indicates a desire for greater competition and efficiency in the banking sector, leading to banking reforms and new legislation that:

– allow prudential supervision of banks to be conducted in accordance with international best practice.
– allow off-site and on-site bank inspections to enhance RBZ's Bank Supervision function, and
– increase competition, innovation and improve customer service to banks.

Subsequently, the Bank Registrar of the Ministry of Finance, in contact with RBZ, began issuing licenses to new participants as the financial sector opened. From the mid-1990s until December 2003, there was a flurry of entrepreneurial activities in the financial sector when indigenous-owned banks were created. The chart below shows the trend in the number of financial institutions by category, operating since 1994. The trend shows an initial increase in commercial banks and discount houses, followed by the decline. The rise in commercial banks was initially slow, gaining momentum around 1999. The decline in commercial banks and discount houses was due to their conversion, mainly into commercial banks.

Source: RBZ Reports

Different entrepreneurs have used various methods to penetrate the financial services industry. Some started advisory services and later became commercial banks, while others started stock brokerage firms, which were high in discount houses.

From the beginning of financial services liberalization until around 1997, there was a notable absence of locally owned commercial banks. Some of the reasons for this were:

– Conservative licensing policy by the Registrar of Financial Institutions, as it was risky to license indigenous-owned commercial banks without favorable legislative and supervisory experience.
– Bank entrepreneurs chose non-bank financial institutions as they were less costly in terms of initial capital and working capital requirements. For example, a commercial bank would require less staff, would not need bank rooms, and would not need to negotiate expensive small retail deposits, which would reduce overhead and reduce the time to record profits. Thus, there was a rapid increase in nonbank financial institutions at that time, for example, in 1995, five out of ten commercial banks had started in the previous two years. This has become a preferred gateway for commercial banks for some, for example Kingdom Bank, NMB Bank and Trust Bank.

Some foreign banks were also expected to enter the market after the financial reforms, but this did not occur, probably due to the restriction of having a minimum local stake of 30%. Strict foreign currency controls could also have contributed, as well as the cautious approach taken by the licensing authorities. Existing foreign banks were not required to lose part of their equity interest, although Barclay & # 39; s Bank did so by listing on the local stock exchange.

Harvey argues that financial liberalization assumes that the removal of loan guidelines presupposes that banks can automatically lend for commercial reasons. But he says banks may not have this capability as they are affected by borrowers & # 39; inability to service loans due to currency restrictions or price controls. Similarly, having positive real interest rates would normally increase bank deposits and financial intermediation, but this logic falsely assumes that banks will always lend more efficiently. He further argues that the licensing of new banks does not imply increased competition, as it presupposes that new banks will be able to attract competent management and that banking legislation and supervision will be appropriate to prevent fraud and thus prevent bank collapse. and the resulting financial crisis. Unfortunately, their concerns do not seem to have been addressed in Zimbabwe's financial sector reform to the detriment of the national economy.

The operating environment

Any entrepreneurial activity is limited or aided by its operating environment. This section looks at the prevailing environment in Zimbabwe that may affect the banking sector.

Political-Legislative

The political environment in the 1990s was stable, but became volatile after 1998, mainly due to the following factors:

– an un budgeted payment to war veterans after they attacked the state in November 1997. This put a heavy strain on the economy, resulting in a run on the dollar. As a result, the Zimbabwean dollar depreciated by 75% as the market foresaw the consequences of the government's decision. That day was recognized as the beginning of the country's strong economic downturn and was dubbed "Black Friday." This depreciation has become a catalyst for further inflation. He was followed a month later by violent eating disorders.
– A poorly planned Land Agrarian Reform, launched in 1998, where white commercial farmers were ostensibly evicted and replaced by blacks without due regard for land rights or compensation systems. This has resulted in a significant reduction in the country's productivity, which mainly depends on agriculture. The way land redistribution has been handled has angered the international community, which claims it is racially and politically motivated. International donors withdrew support for the program.
– an unwary military incursion, called Operation Sovereign Legitimacy, to defend the Democratic Republic of Congo in 1998, saw the country incur massive costs, with no apparent benefit to itself, and
– elections that the international community claimed were rigged in 2000, 2003 and 2008.

These factors have led to international isolation, significantly reducing the flow of foreign currency and foreign direct investment in the country. Investor confidence has been severely eroded. Agriculture and tourism, which have traditionally been huge foreign currency earners, have collapsed.

In the first decade after independence, the Banking Act (1965) was the main legislative framework. As this was enacted in most foreign-owned commercial banks, there were no instructions on prudential lending, prime lending, proportion of shareholder funds that could be borrowed from a borrower, definition of risky assets, and no provision for bank inspection.

The Banking Act (24:01), which came into effect in September 1999, was the culmination of RBZ's desire to liberalize and deregulate financial services. This law regulates commercial banks, commercial banks and discount houses. Barriers to entry have been removed, leading to increased competition. Deregulation also allowed banks some latitude to operate on non-essential services. It seems that this latitude was not well delimited and therefore presented opportunities to take risks. The RBZ has defended this deregulation as a way of disaggregating the financial sector and improving efficiency. (RBZ, 2000: 4.) These two factors presented opportunities for enterprising indigenous bankers to establish their own businesses in the sector. The law was revised and reissued as chapter 24:20 in August 2000. Increased competition has resulted in the introduction of new products and services, such as electronic banking and in-store banking. This entrepreneurial activity resulted in "deepening and sophistication of the financial sector" (RBZ, 2000: 5).

As part of the financial reform effort, the Central Bank Act (22:15) was enacted in September 1999.

Its main objective was to strengthen the Bank's supervisory role by:
– establish prudential standards within which banks operate
– internal and external bank surveillance
– apply sanctions and, where necessary, curate and
– Investigate banking institutions whenever necessary.

This law still had shortcomings, as Dr. Tsumba, then RBZ Governor, argued that there was a need for RBZ to be responsible for licensing and supervision, since "the final sanction available to a bank supervisor is the knowledge of the banking sector that The license issued will be canceled for gross violation of the operating rules. " However, the government seemed to have resisted this until January 2004. It can be argued that this deficiency could have given some bankers the impression that nothing would happen to their licenses. Dr. Tsumba, noting RBZ's role in maintaining bank management, directors and shareholders responsible for the viability of banks, stated that it was not RBZ's role or intention to "micromanage banks and direct their day-to-day operations. "

It seems that his successor's view differs significantly from that orthodox view, hence the evidence of micromanagement that has been observed in the industry since December 2003.
In November 2001, the Troubled and Insolvent Banks Policy, drawn up in recent years, went into operation. One of its intended objectives was that "the policy enhances transparency, regulatory accountability and ensures that regulatory responses are applied fairly and consistently." The prevailing view in the market is that this policy, when implemented after 2003, is definitely deficient. as measured against these ideals. Transparency and the inclusion and exclusion of vulnerable banks in ZABG are contestable.

A new RBZ governor was appointed in December 2003, when the economy was in free fall. He made significant changes in monetary policy, which caused tremors in the banking sector. The RBZ was finally authorized to act as a regulatory and licensing authority for financial institutions in January 2004. The regulatory environment has been revised and significant amendments have been made to the laws governing the financial sector.

The Resolution Law for Troubled Financial Institutions (2004) was promulgated. As a result of the new regulatory environment, several financial institutions were distressed. RBZ placed seven curated institutions while one was closed and one was in liquidation.

In January 2005, three of the distressed banks were merged under the authority of the Troubled Financial Institutions Act to form a new institution, the Zimbabwe Allied Banking Group (ZABG). These banks allegedly failed to pay RBZ advance funds to them. Affected institutions were Trust Bank, Royal Bank and Barbican Bank. The shareholders appealed and won the appeal against the seizure of their assets with the Supreme Court ruling that ZABG was trading illegally acquired assets. These bankers appealed to the Minister of Finance and lost their appeal. Later, in late 2006, they appealed to the Courts as provided by law. Finally, in April 2010, RBZ finally agreed to return the "stolen goods".

Another move taken by the new governor was to force management changes in the financial sector, which resulted in most corporate bank founders being forced out of their own companies under various pretexts. Some finally fled the country under threat of arrest. Bank boards have been restructured.

Economic environment

Economically, the country was stable until the mid-1990s, but a slowdown began around 1997-1998, mainly due to political decisions made at the time, as already discussed. Economic policy was driven by political considerations. As a result, multinational donors were withdrawn and the country was isolated. At the same time, a drought hit the country in the 2001-2002 season, exacerbating the detrimental effect of agricultural dumping on agricultural production. This reduced production had an adverse impact on the banks that financed agriculture. Interruptions in commercial agriculture and the concomitant reduction in food production have resulted in a precarious position of food security. Over the past twelve years, the country has been forced to import maize, further putting pressure on the country's meager foreign currency resources.

Another impact of the land reform program was that most farmers who had lent money from banks could not yet repay the loans, but the government, which took over their business, refused to take responsibility for the loans. By failing simultaneously to reward farmers quickly and fairly, it has become impracticable for farmers to service loans. Banks were exposed to these rotten loans.

The net result was spiraling inflation, business closures resulting in high unemployment, foreign currency shortages as international sources of funds dried up and food shortages. The shortage of foreign currency led to the shortage of fuel, which in turn reduced industrial production. As a result, Gross Domestic Product (GDP) has been declining since 1997. This negative economic environment meant a reduction in banking activity as industrial activity declined and banking services were directed to the non-formal and parallel market.

As illustrated in the chart below, inflation spiraled to a peak of 630% in January 2003. After a brief easing, the upward trend continued to rise to 1729% in February 2007. After that, the country entered a period of hyperinflation. unheard of in a period of peace. Inflation stresses the banks. Some argue that the rate of inflation has risen because currency devaluation has not been accompanied by a reduction in the budget deficit. Hyperinflation causes interest rates to rise as the value of collateral falls, resulting in mismatches between assets and liabilities. It also increases overdue loans as more people fail to repay their loans.

Indeed, in 2001 most banks adopted a conservative lending strategy, for example, with total advances to the banking sector being only 21.7% of total banking sector assets, compared to 31.1% in the previous year. Banks resorted to volatile nonfinancial revenues. Some began trading in the parallel foreign currency market, sometimes colluding with the RBZ.

In the last half of 2003, there was a severe cash shortage. People stopped using banks as intermediaries because they weren't sure they could access their money whenever they needed it. This has reduced the deposit base for banks. Due to the short-term maturity profile of the deposit base, banks were usually unable to invest significant portions of their funds in long-term assets and were therefore highly liquid until mid-2003. However, in 2003, due to demand of clients for returns corresponding to inflation, most indigenous banks resorted to speculative investments, which generated higher returns.

These speculative activities, especially non-core banking, have driven exponential growth in the financial sector. For example, a bank had its asset base increased from Z $ 200 billion (USD50 million) to Z $ 800 billion (USD200 million) within a year.

However, bankers have argued that what the governor calls speculative non-essential business is considered best practice in the world's most advanced banking systems. They argue that it is not uncommon for banks to take equity positions in nonbank institutions that have lent money to safeguard their investments. Examples were given by banks such as Nedbank (RSA) and JP Morgan (USA), which control vast real estate investments in their portfolios. Bankers argue convincingly that these investments are sometimes used to protect inflation.

RBZ's new governor instructions for banks to relax their positions overnight and the immediate withdrawal of a nightly bank support by RBZ spurred a crisis that led to significant asset and liability mismatches and a liquidity contraction for the bank. Most banks. . Property prices and the Zimbabwe Stock Exchange collapsed simultaneously due to massive sales from banks trying to hedge their positions. The loss of value in the stock market meant the loss of collateral, which most banks held in lieu of the loans they had advanced.

During this period, Zimbabwe remained in crisis, as most of its foreign debts were either underserved or under-serviced. The resulting worsening balance of payments (BP) put pressure on foreign exchange reserves and the overvalued currency. Government total domestic debt increased from Z $ 7.2 billion (1990) to Z $ 2.8 trillion (2004). This growth in domestic debt stems from high budget deficits and a decline in international financing.

Cultural Partner

Due to the volatile economy after the 1990s, the population became quite mobile, with a significant number of professionals emigrating for economic reasons. The Internet and satellite TV have made the world truly a global village. Customers demanded the same level of service excellence that they were exposed to globally. This has made quality of service a differential advantage. There was also a demand for banks to invest heavily in technology systems.

The rising cost of doing business in a hyperinflationary environment has led to high unemployment and the concomitant collapse of real income. As Zimbabwe Independent (2005: B14) so ​​vehemently noted, a direct result of the hyperinflationary environment is "that currency substitution is abundant, implying that the Zimbabwe dollar is abandoning its function as a store of value, unit of account. and exchange rate "for more stable foreign currencies.

During this period, an affluent indigenous segment of society emerged, which was rich in money but avoided sponsoring banks. The emerging parallel market of foreign currency and cash during the cash crisis reinforced this. This effectively reduced the bank's customer base while more banks were entering the market. There was therefore aggressive competition within a declining market.

Socioeconomic costs associated with hyperinflation include: erosion of purchasing power parity, increased uncertainty in business planning and budgeting, reduced disposable income, speculative activities that divert resources from productive activities, pressure on the domestic exchange rate due to rising demand. imports and low returns on the economy. During this period, to increase income, there was an increase in cross-border trade and goods brokering by people who imported from China, Malaysia and Dubai. This effectively meant that imported substitutes for local products intensified competition, adversely affecting local industries.

As more banks entered the market, which had suffered a major brain drain for economic reasons, it was logical that many inexperienced bankers were thrown into the deep end. For example, ENG Asset Management's founding directors had less than five years of experience in financial services, yet ENG was the fastest growing financial institution in 2003. It was suggested that its failure in December 2003 was due to zeal. , greed and lack of young people. experience. The collapse of ENG affected some financial institutions that were financially exposed to it, and caused depositors to flee, leading to the collapse of some indigenous banks.

Closed plan agencies in the 21st century

You can be one of the many SMEs that want to expand in the UK or simply need to relocate your offices for easy access to your employees. Whatever the reason for the relocation of offices, it is important to look at things and do not want you and your employees to have closed plan offices. There are a wide range of parts that you can choose, such as glass bottles that are not required. glass doors or solid-wall dismantled partitions. After considering some of the pros and cons of indoor plans, we will stay with us and decide if this is a viable option.

A closed plan means that your office plan will have an increasing amount of privacy for your employees. If each employee has a separate office or several employees have an office space, this can be very helpful for tasks requiring different confidentiality, such as law and accounting responsibilities, where customer information and details should not be compromised.

This arrangement allows employees to avoid the noise and stress of an open plan office that allows them to work in a quiet and peaceful environment. This will help you focus on the tasks at hand and at the same time there will be no distractions for working in a busy office environment. Other positive moments include listening to your own music and choosing the temperature of your heating / air conditioning unit, which will make your employees feel more comfortable while performing their daily tasks.

On the other hand, many feel that closed office plans create a culture of individual thinking among the working group, which can cause real damage when it comes to team tasks and team communication. This can also cause delays and missed dates because communication is not as fast and effective as it is in an open office plan.

In addition, closed offices do not necessarily make the best use of their office space. It can also make your employees feel less or less claustrophobic than having such a small office space that can cause stress and anxiety, but it certainly depends on the partitions and structure used. Glass partitions can offer more choices and can still provide something that is closed and private while giving a sense of space and openness.

Many poor light is not allowed into the office if a poor design is done in a divided office. This means that the business environment can become very uninteresting and there will be a significant increase in electricity costs. Glass partitions and frameless glass doors are generally a good alternative to deal with such problems as it allows a large amount of natural light to flow through the office building.

The suitability of a closed office plan depends on the nature of your business, so they are not for everyone. Hopefully we have provided you with all the information you need to make a decision about your business division requirements.

Top 10 Passive Income Ideas 2018

Passive income ideas have been a widespread topic in 2018, but this year has declined slightly, but the reality has never changed since in the past people were looking for ways to increase their income and enjoy their financial independence. In this article

I created the waves in 2018 and I'm going to share the top 10 passive income ideas for how you earn passive income opportunities In 2019 these thoughts. But if you are new to the topic at first, your first question is what is passive?

Passive income simply means residual income, which does not require much of your time and effort from what you have done in the past or what you do now. Put another way, passive income is the money you earn part-time. The money you earn in the workplace differs from your salary to active income.

The biggest question people often ask is that one cannot live with passive income. If you use your passive income sources and generate residual income, you can reach the point where your passive income can be equal to what you earn in your day-to-day business. The goal is to build up a large flow of passive income that equals or surpasses what you earn in your day-to-day business, so you can be financially independent, as you then manage your time, quit your main job and pay for your money if the system works automatically.

Now I think the question in your mind is whether there is anything you can do to earn a full time. Yes, there is a problem! Here are the top 10 passive income ideas for 2018

  1. Affiliate marketing: Affiliate marketing provides an incredible opportunity for people who do not own their own products to buy someone else's good product and make a profit from every sale they make. This is one of the easiest ways to start earning passive income.

  2. e-book publishing: If you have an idea that can solve a particular problem, book publishing offers an easy way to format and broadcast it. Book printing has never been easier. Many people have asked if there is anything you can do without money. This is one. Everything is free, if you can write and edit your book, create a charming cover and write a good description for your book, you can start earning money right away.

  3. Cryptocurrency: As a source of income generation, cryptocurrency has gained a good deal of attention in 2018. There are basically two ways to make money with cryptocurrency. So trade and mining. The good thing about this system is that you can trade in your pocket.

  4. Network marketing: network marketing or multi-level marketing is one of the oldest things around, a system where you can start from the bottom and get on your way. While the talk of multi-level marketing does not seem to be an empty word, big companies still use it to bring hot products to the market, and individuals use it to rise to the top and earn both passive and massive revenue for themselves.

  5. Freelancing: you've probably heard about sites like performance, fiver, elance, and so on, so people are going to do different types of digital work for them. If these websites are one of the daily skills required, you can start earning money right away. article writing, article editing, book cover design, website development, etc.

  6. Blogging: Yes, even though the market seems saturated, people still come from blogging. There are many tools that make it easy to create a blog and gain fame. Blogging is a good way to start earning passive income, but not the fastest way to get passive income. If not, it should be noted that one of the best ways to build a reputation is that, if you do it right, a steady stream of income can last longer.

  7. E-commerce: This was previously for large companies, but today anyone can start an e-commerce store and start selling digital products online with WordPress and woocommerce plugins.

  8. Shipping: It involves selling physical products through well-established e-commerce platforms such as Aliexpress and Amazon. You don't have to work hard, just explore the best-selling products and promote your product at a dedicated e-commerce store related to the main platform and deliver your company's products when you make a profit.

  9. Mobile Apps: Today there are more smartphones on Earth than people. What are the powers of these devices? Mobile applications. If you have an idea that can solve a problem, here's an opportunity to earn a residual income. you don't have to be a programmer to create mobile apps. You need to become familiar with the idea and provide a programmer with one of the previously mentioned free sites to create it.

  10. Video blogging: YouTube is now the second most popular website in the world. If you have a flair for video, here's an opportunity to earn passive income. YouTube, the AdSense program, and the Partner Program allow creators to earn money on the platform.

These are the top ten passive income ideas that are slated for 2018. If you want to generate passive income in 2019, you might want to consider one of these as a starting point for building your residual income streams. But if you're already earning passive income online, I'd love to know how many of these passive income ideas you try or earn.

Bitcoin: What's Right and Right for Your Business?

Okay, so what is Bitcoin?

This is not a real coin, but "cryptocurrency" is a form of digital payments made by a large number of people around the world. It allows you to perform peer-to-peer operations at once, free or very cheap in the world.

Bitcoin was invented after decades of research on cryptocurrency by Satoshi Nakamoto, who is supposed to be the software developer who developed the algorithm and introduced it in 2009. His true identity remains a mystery.

This currency is not supported by tangible goods (such as gold or silver); bitcoins are trading online where they make themselves a commodity.

Bitcoin is an open source product that is accessible to anyone who is a user. All you need is an email address, Internet access, and money to get started.

Where does it come from?

Bitcoin-based users are mined in a distributed computer network of users; the network solves certain mathematical arguments and looks for a specific data sequence ("block") that creates a specific example when the BTC algorithm is implemented. One match produces a bitcoin. It is complex and consumes time and energy.

Only 21 million bitcoins will never be mined (about 11 million are in circulation). The math problems that are solved by network computers are becoming more and more difficult to keep track of mining and delivery.

The network also approves all transactions via cryptography.

How does Bitcoin work?

Internet users transfer digital assets (bits) to one network. No online banking; on the contrary, Bitcoin has been described as a bookstore spread across the Internet. Users buy Bitcoin in cash or by selling a product or service for Bitcoin. Bitcoin wallets store and use this digital currency. Users can sell their Bitcoins out of this virtual booklet by selling their Bitcoin to anyone else they want. Anyone can do this anywhere in the world.

There are smartphone apps for mobile Bitcoin transactions, and Bitcoin exchange is making the Internet popular.

How is Bitcoin valued?

Bitcoin is not owned or controlled by a financial institution; completely decentralized. Unlike real money, governments or banks cannot devalue it.

Instead, the value of Bitcoin is perceived as a form of payment among users, and because delivery is at an end. Global currency values ​​fluctuate according to demand and student and market speculation; more people create wallets and store and spend bitcoins, and as more and more businesses adopt this, the value of Bitcoin will rise. Banks are now trying to value Bitcoin, and some investment sites predict that the price of one bitcoin will be several thousand dollars in 2014.

What are the benefits of this?

There are advantages to consumers and merchants who want to use this payment option.

1. Speed ​​Transactions – Bitcoin is instantly copied over the Internet.

2. No charge / down payment – Unlike credit cards, Bitcoin can be used for free or very low payments. Unless there is a centralized body as an average person, permission (and right) is not required. This improves profit margin sales.

3. Eliminates the risk of fraud – Only the Bitcoin owner can send the payment to the intended buyer, only to receive it. Knows that network transfer is taking place and transactions are confirmed; they cannot be challenged or retracted. This is great for online merchants, often subject to credit card processors. Evaluate the institutions whether the transaction is fraudulent or the high cost of credit card payments.

4. Information is Reliable – As we have seen with the latest hackers at national retailers & # 39; payment processing systems, the Internet is not always a reliable place for personal information. With Bitcoin, users do not give up their personal information.

a. They have two keys – a bitcoin address and a public key that serves as a private key containing personal information.

b. Transactions are digitally "signed" by combining public and private keys; a mathematical function is applied and a certificate is created to confirm that the user has started the operation. Digital signatures are unique to each operation and cannot be reused.

c. The seller / buyer will never see your confidential information (name, number, physical address), so it can be tracked, albeit somewhat anonymous (to the bitcoin in the public key).

5. Comfortable Payment System – Merchants can use Bitcoin as a complete payment system; There is no need for any Bitcoin currency to be converted into Bitcoin dollars. Consumers or merchants can trade Bitcoin and other currencies whenever they want.

6. International Payments – Bitcoin is used worldwide; e-commerce traders and service providers can easily accept international payments that open new potential markets for them.

7. Easy to track – The network monitors and records every transaction in the Bitcoin block chain (database). When possible, it is easier for law enforcement officers to follow these operations.

8. Micropayments are possible – Bitcoins can be split into one hundred million, so a dollar or less is a transaction that is free or close to small payments. This can be a real boost for shops, cafes and subscription-based websites (videos, publications).

Still a little confused? Here are some examples of operations:

Bitcoin in the retail environment

When making a payment, the payer uses a smartphone app to scan a QR code with all the transaction information needed to transmit bitcoin to the retailer. Click the "Confirm" button to complete the operation. If the user is not a Bitcoin owner, he / she will convert the dollars in the network account into digital currency.

The retailer can convert Bitcoin to dollars if it wants, has no or very low processing fees (instead of 2 to 3 percent), no hackers can steal personal consumer information and risk fraud. Very smooth.

Bitcoins in Hospitality

Guests can use Bitcoin mobile wallets to accept booking and dining fees from PCs for online booking or online booking for guests wishing to pay for Bitcoin. A third-party BTC processor can help you manage your Bitcoin-enabled transactions. These processing customers are installed on tablets at the enterprise & # 39; for users with BTC smartphone apps at the front desk or at restaurants. (These payment processors are available on desktop PCs, retail POS systems, and integrated into food service POS systems.) You don't need any credit card or money to make a change.

These cashless transactions are fast and the processor can convert bitcoins into currencies and make daily direct deposit to a bank account. In January 2014, it was announced that two Las Vegas hotel casinos would accept Bitcoin payments at desks, restaurants and gift shops.

Sounds good – but what's there?

Business owners should consider participation, security and cost.

• A relatively small number of ordinary consumers and traders currently use or understand Bitcoin. However, acceptance is growing globally and tools and technologies are being developed to facilitate participation.

• The Internet is therefore a threat to hackers. The Economist reported that a Bitcoin exchange was fired in September 2013 and that $ 250,000 was stolen from users. online booking offices. Bitcoins can be stolen like other currencies, so alertness to network, server and database security is important.

• Users should carefully protect bitcoin wallets with their own keys. Reliable backup or printing is essential.

• Bitcoin is not regulated or insured by the US government, so there is no insurance for your account if the exchange goes wrong or is robbed by hackers.

• Bitcoins are relatively expensive. There are available prices and sales prices on the Internet stock exchanges.

Virtual currency is still not universal but gains information and acceptance in the market. One business may decide to save Bitcoin credit card and bank fees as a customer convenience, or see if it helps or hinders sales and profitability.

Thinking of adopting Bitcoin? Already use? Share your thoughts and experiences with us.

Expat Banking – Personal Finance for the Intrepid Investor

Here at Q Wealth, we often receive emails and calls from people who are confused about managing their finances when they become expatriates or nonresidents. I am not talking much about tax preparation or refund, but about the practicalities of cross-border banking.

For example: do you need an offshore bank account? What is the difference between a multi-currency account and multiple currency accounts? Should I keep my money in the country I'm living in? Can I still access my online brokerage account from abroad? These are all typical questions we are asked, and I will answer these and more in this article.

Let's create two typical composite characters, Bill and Mary Expat, who are retiring early abroad and planning to travel frequently. To make things easier, let's say they are American. They have decided that they enjoy the laid back lifestyle of Latin America, but are still hesitating between retiring in one of the most popular foreign havens like San Miguel de Allende in Mexico or Bocas del Toro in Panama … or maybe they would like to go to a more exotic and adventerous place like columbia or brazil. They do not know yet. Either way, getting there is half the fun, and Bill and Mary are determined to enjoy the journey. At the moment, they will climb stumps and travel!

Bank accounts and cash withdrawals at ATMs

Bill and Mary are beginning their journey with some bank accounts in their home country, the US. Like most couples, they have two checking accounts, a savings account, a credit union account, and some credit cards.

It is certainly worth keeping these accounts in the home country. US checks are still useful in many Latin American countries where they can be exchanged in the friendly neighborhood. currency exchange This is a good way to access money for things like daily expenses or home improvements. Usually, bureaux de change offer a better exchange rate than ATMs without charge and without being subject to daily limits. But of course, before they pay you checks on the spot, they must know you. It's best to refer an existing customer, so ask the "expat specialists" in the chosen area.

US bank accounts will also be useful for paying bills at home. Regular accounts, such as insurance payments, can be debited automatically, while single accounts can be paid with a check. Regular income, such as social security checks, can be deposited directly into the US current account.

Many people do not even know that they have daily cash withdrawals or spending limits on their ATMs or credit cards until the day they urgently need a reasonably large amount of money. Afraid of accumulating a large amount of money at home, they wait until the last minute to withdraw funds, assuming that, as they have the money in their account, they can withdraw it using their debit cards.

Big mistake! They have to pay their builders in cash and the distributor refuses to spit the money. In addition, many countries have only one or two ATM networks, and these networks automatically impose their own daily limits.

It is important to understand in this regard that there are actually three different types of daily limits that you have to deal with:

Daily withdrawal limit imposed by the bank issuing the card

o Daily purchase limit imposed by the card-issuing bank – this applies to non-cash purchases where you sign a card purchase voucher at a retailer.

o Daily cash withdrawal limit imposed by the owner of the ATM network – this limit is not set by your bank, but by the owner of the actual ATM where you are transacting.

That is, you can ask the bank to issue your card a permanent or temporary increase in your withdrawal limit. They can reach $ 50,000 a day. But most ATMs pay no more than $ 500 in one transaction. In this case, for the card issuer, you can make 100 transactions of $ 500 each per day before reaching the limit.

Owners of ATM networks set their own limits for several reasons. In Brazil, for example, things are particularly difficult. Nightly departures are limited to 50 reais, while a taxi through São Paulo can easily cost 150 reais. So if you're arriving in Sao Paulo on the red-eye flight, bring cash and don't trust local ATM networks! Argentina and other countries impose similar restrictions on ATM withdrawals.

In some countries, each bank has a different network. In other countries (Spain, for example), you may find a monopoly network that controls virtually all ATMs. They are the worst! If the network owner says no one can withdraw more than $ 500, your word is law. Never mind that the card issuer allows you to withdraw $ 50,000. You will get $ 500 a day, no more!

Internet purchases and credit cards

When you are starting in a new country with no established credit record and as a newcomer resident it can be difficult to obtain a credit card. Therefore, it is worth keeping credit cards from your home country. But there are some tips and tricks for playing the cards correctly.

First, inform the card issuer that you will be traveling. Call them in advance. This is important because all transactions abroad are now viewed with suspicion by the automatic tracking software used by all banks. If your bank does not know you are abroad, the software will likely prevent you from suddenly spending $ 500 in Panama. Of course this would be rather embarrassing if you were leaving a restaurant with prospective business partners at midnight Panama time early in the morning when your bank was closed and you were relying on the card to pay the bill.

It is also worth keeping a billing address in the US. It can be a mailbox or a private mailbox address provided by a company like The UPS Store or Pakmail. You can get a phone number from a VOIP provider like Skype. This is important. While your bank may be happy to send statements to a foreign address, about 99% of online retailers are not set up to handle US cards with non-US billing addresses. Your systems will automatically detect from the US issued card number, the same system will require an Address Verification System (AVS) match. AVS only works with US addresses. Therefore, if you have a US-issued card with a billing address outside the US, it is basically useless for internet purchases and also for other purchases where your zip code is required (for example, some US gas stations).

Similarly, you should be aware that the unique IP address of each computer on the Internet allows the merchant to see from which country the order is being placed. If you request something popular with card fraudsters (such as a new laptop, digital camera, or gold jewelry) using a card, US billing address, but a Panama IP address, the transaction is likely to be flagged as potential fraud. Typically, in cases like this, you need to answer the phone and talk directly to the merchant to explain the circumstances so that they can manually override your fraud procedures. Most traders will be happy to do this, but some just won't move.

Open a local bank account

At some point you will probably find that you have to deal with the local banking system of the country you are moving to. For example, in most Latin American countries, you can now pay your service bills online instead of standing in line for 45 minutes to pay cash. But you will need a local bank account to do this.

Bank account opening procedures vary greatly from country to country. Unless you are moving to a well-known tax haven the banking system will likely be local-oriented and you may need to demonstrate official residence through a local permit or ID card before even opening a local bank account. There are often exceptions to these rules – but local bank officials at small-town agencies are unlikely to know them. It is best to ask local expatriates for advice and choose a bank and agency that is used to dealing with expatriates and foreigners.

Anyway, before leaving home, try to get several copies of a bank reference from your home bank addressed to "To Whom It May Concern" and stating that you have been a customer for several years and that you have always operated your account properly. standing. These documents will be very helpful when dealing with foreign banks, local and overseas. If your local bank says you want to address a reference to a specific bank, explain that you are traveling and plan to buy a property abroad, but you still do not know which country you will stop at.

It's not just account opening procedures that vary greatly depending on the country you go to. The same goes for the services offered, which may be significantly different from what you are used to at home. Take time to understand the terms and conditions of operation related to your new account, otherwise your bank may assume one thing while you assume something else entirely. For example, how long do you have to wait after making a deposit before you can issue a check? Some countries have complicated value date systems where money can appear in your account even if it's not available for you to spend. If there is something you do not understand, ask your bank.

Do you need a private offshore bank account?

Banking services vary widely but are rarely of high quality. Therefore, you should probably consider opening an account with an offshore bank that specializes in dealing with nonresidents. You can open this up in a neutral third country – places like Switzerland, the British Isles, Singapore and Panama are typically good. Big names like Barclays Wealth and HSBC offer these services as well as a plethora of smaller banks. Even today, it should be possible to open non-resident bank accounts by mail without having to travel there. You can operate the account using internet banking and debit or credit cards.

There are two main reasons why you may want to open an account abroad. The first is for convenience – you will be dealing with a sophisticated private banker who speaks your language and can offer the variety of international services you will need. The second is for privacy and asset protection – offshore banks offer confidentiality and discretion. Becoming non-resident of your home country for tax purposes will give you substantial tax advantages by transferring your money abroad.

One of the convenient services that most offshore banks offer expats is the multi-currency bank account. This allows you to keep multiple currencies in the same account. For ease of use, you only have one account number, but you can keep all major currencies there and trade them at your fingertips with the click of a mouse. Another useful service is the so-called InvestLoan, which allows you to borrow money in a currency at a low interest rate and then reinvest in a higher interest currency for a profit.

Of course, this does not necessarily apply if you are moving to a banking center like Panama or the Cayman Islands, but if you are moving to a high tax bureaucratic country like Mexico, Brazil or almost anywhere else in Latin America. , you do not want to put all your assets in the domestic banking system, where the government can see them on the radar. You also don't want to leave them in your home country, like the US, which will also try to tax you on these assets!

Another consideration when opening your account abroad is to open a personal or corporate account. If privacy is a concern for you, it is usually worthwhile to form an offshore company and keep the account on behalf of the corporation rather than your personal name. This helps keep your account under the radar as transfers in and out do not show your name.

Whether you want to open a private or corporate offshore bank account, there are consultants who can help you. They explain a lot of things you don't do and also direct you to specific banks you can contact directly to open accounts. They can also tell which banks will open accounts for offshore companies.

A separate brokerage account is also often a good idea, as most online offline banks do not offer large brokerage facilities. But there are some. I know, for example, a European-owned offshore discount brokerage firm based in Panama that gives you instant online access to major world markets like New York, London and Frankfurt.

What are Bitcoin and its features?

Login to Bitcoin

Bitcoin is an advanced form of currency used to buy things through online transactions. Bitcoin is not material, it is completely managed and made electronically. It is important to pay attention to when it will contribute to Bitcoin, as its value is constantly changing. Bitcoin is used to make various exchanges of currencies, services and products. The operations are done through a computerized wallet, so transactions are handled rapidly. Such transactions have always been irreversible because the client's identity was not disclosed. This factor makes it a bit more difficult when deciding on transactions through Bitcoin.

Bitcoin features

Bitcoin is faster : Bitcoin has the ability to organize faster than other modes. Usually when one transfers cash from one side of the world to another, one bank takes several days to complete the transaction, and in the case of Bitcoin, it takes a few minutes to complete. This is one of the reasons why people use Bitcoin for various online transactions.

Bitcoin is easy to set up: Bitcoin transactions are made through an address that each customer owns. When writing a note to this address, you can easily set up a bank without going through any of the procedures. Creating an address can be done without any modifications or credit checks or any inquiries. However, any customer who wants to make a contribution should always check the current value of Bitcoin.

Bitcoin is anonymous: Unlike banks that have full records of their customers' transactions, Bitcoin does not. Does not keep track of customers & # 39; financial records, contact information or any other information. Your wallet in Bitcoin generally does not require any significant information. This character raises two points: first, people think that it is a good way to remove information from third parties, and secondly, people think that it can lead to dangerous activities.

Bitcoin cannot be denied: When sending Bitcoin to someone, there is usually no way to get Bitcoin back, even if the buyer doesn't feel the need to return them. This feature ensures that the transaction is complete, that is, the beneficiary can never claim that they have not received any money.

Bitcoin is decentralized: One of the key features of Bitcoin is that it is not under the control of a particular management specialist. Every exchange voucher and mining business is managed in such a way that the individual and machine are part of the system. Remittances are still ongoing, even if part of the system.

Bitcoin is transparent: Although only one address is used for transactions, each Bitcoin exchange is recorded on Blockchain. So, if an address is used at any point, Blockchain can tell you how much money is in your wallet through notes. There are ways to increase the safety of your wallets.