The Blockchain: What It Is and Why It Matters

The Blockchain:
What It Is and Why It Matters

Chances are that you’ve heard of bitcoin, the digital currency

that many predict will revolutionize payments – or prove to be a massive fraud – depending on what you read. Bitcoin is an application that runs on the Blockchain, which is ultimately a more interesting and profound innovation. The Blockchain is a secure transaction ledger database that is shared by all parties participating in an established, distributed network of computers. It records and stores every transaction that occurs in the network, essentially eliminating the need for “trusted” third parties such as payment processors. Blockchain proponents often describe the innovation as a “transfer of trust in a trustless world,” referring to the fact that the entities participating in a transaction are not necessarily known to each other yet they exchange value with surety and no third-party validation. For this reason, the Blockchain is a potential game changer.

In 2008, Satoshi Nakamoto, the pseudonymous person or group of people credited with developing bitcoin, released a whitepaper describing the software protocol. Since then, the network has grown and bitcoin has become a recognized unit of value around the globe. Bitcoin is extremely important because it provides a mechanism for accessing the Blockchain – but it’s not the only application that can leverage the platform. Bitcoin has also been on the receiving end of some bad press, such as around the collapse of the Mt. Gox bitcoin exchange earlier last year. The Mt. Gox story is not necessarily an indictment of bitcoin. For the purposes of this post, simply remember this: bitcoin is just a mechanism for transacting on the Blockchain and the Blockchain is the key innovation.

The Blockchain: Trustworthy Transactions in a Trustless World

The Blockchain enables the anonymous exchange of digital assets, such as bitcoin, but it is not technically dependent on bitcoin. The elegance of the Blockchain is that it obviates the need for a central authority to verify trust and the transfer of value. It transfers power and control from large entities to the many, enabling safe, fast, cheaper transactions despite the fact that we may not know the entities we are dealing with.The mechanics of the Blockchain are novel and highly disruptive. As people transact in a Blockchain ecosystem, a public record of all transactions is automatically created. Computers verify each transaction with sophisticated algorithms to confirm the transfer of value and create a historical ledger of all activity. The computers that form the network that are processing the transactions are located throughout the world and importantly are not owned or controlled by any single entity. The process is real-time, and much more secure than relying on a central authority to verify a transaction.

There are many analogous concepts both ancient and modern. Technology has and will continue to transfer power and control from central authorities and distribute them to the masses. For example, time used to be determined and communicated by large clock towers that were expensive to build and maintain. Engineering innovations ultimately decentralized the quantification of time to the individual. Likewise, WhatsApp, a popular cross platform messaging app, cut the transaction cost of sending messages globally – and cut profits for the carriers. The central authority (phone carriers) lost to the application (WhatsApp) built on a decentralized network (i.e. the Internet).

Similarly, third parties that currently verify transactions (the central authority) stand to lose against the Blockchain (the decentralized network). As such, the Blockchain essentially disintermediates these third-party transaction verifiers: auditors, legal services, payment processors, brokerages and other similar organizations. While you may not be convinced that exchanging bitcoin is an invaluable service, there are many other examples of value transfer that are critical – and currently very slow and expensive. Consider the exchange of property: numerous intermediaries are currently involved in this process, such as a third-party escrow service that works for both parties to ensure a smooth transfer. The escrow service, like other services built solely on trust and verification, collect fees that would be mitigated by performing the transaction on the Blockchain – as would wire transfer fees, third party financial auditing, contract execution, etc.

The use case of the Blockchain enabling a decentralized currency exchange – such as bitcoin – is well defined and will likely be the dominant use case near term, however there are a multitude of innovative and disruptive use cases. Companies are already building their own Blockchains for various applications such as Gridcoin that leverages the Blockchain to crowdsource scientific computing projects. Gridcoin uses its own protocols that require much less computing power and electricity to manage than traditional bitcoin networks.

The Blockchain: and Why it Matters (Let’s Not Mess it Up)

The Blockchain is a foundational technology, like TCP/IP, which enables the Internet. And much like the Internet in the late 1990s, we don’t know exactly how the Blockchain will evolve, but evolve it will. Similar to the Internet, the Blockchain must also be allowed to grow unencumbered. This will require careful handling that recognizes the difference between the platform and the applications that run on it. TCP/IP empowers numerous financial applications that are regulated, but TCP/IP is not regulated as a financial instrument. The Blockchain should receive similar consideration. While the predominant use case for the Blockchain today is bitcoin currency exchange that may require regulation, this will change over time.

Had we over-regulated the Internet early on, we would have missed out on many innovations that we can’t imagine living without today. The same is true for the Blockchain. Disruptive technologies rarely fit neatly into existing regulatory considerations, but rigid regulatory frameworks have repeatedly stifled innovation. It’s likely that innovations in the Blockchain will outpace policy, let’s not slow it down.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.

David https://markethive.com/david-ogden

Why Alexa for SEO success

The Alexa Toolbar: Why You Need this Piece of "%#*&%@#".

Google Uses Alexa’s Information For Ranking and Indexing!

So you’re probably wondering why I have the Alexa Toolbar Installed on my browser and why I tell my fellow marketers, webmasters and SEO gurus to do the same.

It’s simple. The Alexa  toolbar monitors all my surfing and collects information about what domains I visit. They don’t know that it’s “me” – they collect it as anonymous user data and use it to rank web sites. Not only does Alexa use this information for determining where people surf on the web but so does google. Let me repeat that fact so it sinks in:

Google Uses Alexa’s Information For Ranking and Indexing!

Installing the Alexa toolbar and surfing your own site will absolutely help you get your sites indexed by Google more quickly. I just started this blog today, and the googlebot has already come by without any inbound links!

Because the Alexa toolbar is such a pile, no one ever keeps it installed. So just by updating and surfing your own site daily, (assuming NO ONE else does), you can get your Alexa ranking from 5,500,000 or “no data” to around 300,000 in under a month and to 100,000 in 3 months.

Alexa Rankings and Google PR are two of the main factors uninformed people look at when considering link exchanges. (Page Rank is completely useless BTW we have a white hat PR 4 site that gets 20 visitors a day and unranked sites that get several thousand per day).

If you remember the Nielsen Company, famous for the Nielsen Ratings, you understand that what is put on television was once determined by what a minute fraction of TV viewers watched: The people with a Nielsen box on their TV Set – The Nielsen Families. Having the Alexa toolbar installed on your browser is like being a Nielsen Family for the web. Your surfing habits will determine what is most “popular” and what sites should be ranked higher in the SERPs.

That was reason enough for me to install the Alexa Tool Bar. Download it for yourself, and watch your Alexa Rankings Skyrocket over the next several weeks. We know Google looks at the Information, which means that Yahoo and MSN are probably looking at it too.

Alexa’s Toolbar is a Great POWERFUL SEO tool.

Just a reminder to make sure you have the Alexa tool bar plugin installed. It is an important tool among others. But I consider the Alexa tool the most important plug in for Internet Marketers.

Install Alexa Tool Bar

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David https://markethive.com/david-ogden

Win Mindshare to Influence Your Market

Win Mindshare to Influence Your Market

 

Years ago Peter Drucker, the father of business consulting, made a very profound observation:

“Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

Yet the marketing function is broad, challenging, and often misunderstood, especially at the small to mid-market level. The Fortune 500 and savvy mid-market consumer products companies approach the marketing function from a fundamentally different angle from that of most small to mid-market companies:

They start with market research and devise a focused, comprehensive strategy to penetrate their market, build their brand, and win mindshare before they enter a market.

The typical small to mid-market company is focused on sales, a tactical function of the marketing process, and gives little thought to researching the market, building a brand, and winning mindshare. When you consider the mindset of the typical small to mid-market CEO, this makes sense; most were very-skilled and well-trained engineers, salespeople, or finance people prior to starting their own company or taking over the top role.

Winning Mindshare Starts with Positioning Strategy

If you believe in Drucker’s observation, then the most important part of marketing strategy, the positioning and branding strategy, should be owned by the CEO of a small to mid-market company. It’s simply too important to delegate to a consultant or tactical marketer.

Positioning and branding can be complicated, so to get started, think about the one thing you’d like your product/service/company to be known for – the mindshare that you’d like to own.

To win mindshare and influence your market, follow these steps at the highest level:

  1. Determine the mindshare you want to win.
  2. Create a brand strategy that embodies the mindshare you seek to own.
  3. Use a systematic approach for all your marketing and sales activities.

Tools for Creating Your Strategy

This short article isn’t meant to trivialize these tasks; all three can be very challenging for a mid-market company. It’s simply meant to give CEOs and marketers in small to mid-market companies some direction when it comes to long term growth strategy.

If you’re a CEO of a small to mid-market company, our new eBook written with our ShortTrack CEO partners goes into greater depth on how to influence your market (it’s concept 3 in the book). Download it here. Currently it’s complimentary.

David https://markethive.com/david-ogden

10 Free Keyword Tools to use in 2016

Did you know that you no longer need to allocate a large budget for keyword research, that there are a wide range of free keyword tools out there for you to choose from? Read on to learn more about the 11 free keyword tools you should be using.

1. Google Webmasters Tool When you need to boost SEO, why not go straight to the source? With Google's webmasters tool, you can see what keywords your website is ranking for and learn more about potential keywords that you have yet to target.

2. Bing Webmasters Tool Bing's webmaster tool provides information about keywords that are related to their search engine. This tool shows users all of the keywords that are related to their seed keyword, as well as the search volume data.

3. SeoChat's Keyword Suggestion Tool This tool allows users to generate keywords from Amazon, YouTube, Bing and Google. The alphabet is used to modify the original keyword and generate a plethora of suggestions.  

4. Soovle Soovle is more limited than some of the other choices, but remains effective, providing up to ten suggestions for each seed keyword.

5. Ubersuggest This tool appeals to the more simplistic user, generating keywords from Google. It has been around for several years and is already quite popular. Ubersuggest can generate a whopping 300 to 400 suggestions for each keyword and the resulting keyword can also be expanded for further information.

6. Hypersuggest Much like Ubersuggest, Hypersuggest offers keywords from Google, in addition to suggestions from YouTube, as well. Since Hypersuggest users can add modifiers, it is able to produce keywords at a greater rate than Ubersuggest.

7. Google Keyword Planner One of the premier keyword research tools, Google Keyword Planner provides search volume data and keyword ideas by using a seed keyword. Users are also able to add their own keywords that have been generated in other places and receive CPC data/search volume information.

8. SeoStack Chrome extension This tool is totally free and generates hundreds of keyword suggestions from Google and YouTube. Alphabets and numbers are tacked onto the original keyword and the tool also supports the use of multiple seed keywords.

9. Google Trends Google Trends is the premier tool to find out more about the current trends and determine the popularity of certain keywords. When you want to know about certain keywords that your competition hasn't discovered yet, Google Trends can help.

10. AnswerThePublic This is a simple tool that generates keywords from Google's autocomplete function. Much like the SeoStack extension from chrome, alphabets and numbers are added to the seed keyword to generate hundreds of suggestions.    

 
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David https://markethive.com/david-ogden