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Have you ever read a book by Gregory Mankiw about 10 principles of Economics? If no, I advise you to read this article where I outline the most significant principles that rule global economy and it will help you to have a better understanding in it!

So, in his Principles of Economics outlines Ten Principles of Economics that we will replicate here, they are:

1.People face trade-offs

What does it mean? Simply, there is no free things, to get one, we usually have to give up another thing that we like. Making decisions requires trading one goal for another.

As an example – the more government invest on national security, the less it can invest on consumer goods.

This is like the balance – if you give in one side, you lose something in another one.

2.The cost of something is what you give up getting it

The first principle leads to a conclusion that making decisions requires comparing the costs and benefits of alternative courses of action.

The cost of…

…seeing a movie is not just the price of the ticket, but the value of the time you spend in the theater. This time you could have spent on another thing. This is the actual cost this principle explains

Or whatever you have to give up getting the thing you want – this is your opportunity cost and it should be considerated when making a decision.

3.Rational people think at the margin

Rational people shall make decisions by comparing marginal benefits and marginal costs.

4.People respond to incentives

Because rational people make decisions by comparing costs and benefits, they respond to incentives. A bar might offer a buy one, get one free drink. Incentive can be negative as well, like a tax on a fuel.

5.Trade can make everyone better off

Countries benefit from trading with one another as well.

6.Markets are usually a good way to organize economic activity

Before going deeply let’s understand what is market economy.

Market economy: an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services. Market prices reflect both the value of a product to consumers and the cost of the resources used to produce it.

7.Governments can sometimes improve market outcomes

The government may help if the market efficiency isn’t working or if the market is failing to distribute. This failure is often caused by externality, which means that the product impacts more than just the direct buyers and sellers.

8.A country's standard of living depends on its ability to produce goods and services

This principle means that high productivity (the quantity of goods and services produced from each hour of a worker’s time) implies a high standard of living. What does it mean? If we want to increase the living standards, we need to raise productivity. To raise productivity, it is necessary to educate workers, provide them with good tools and best technology.

9.Prices rise when the government prints too much money

This principle refers to inflation. Prices go up increase to reflect the amount of money being printed. When government prints too much money, inflation causes prices to go up and that money loses some of its value.

10.Society faces a short-run tradeoff between Inflation and unemployment.

Actually, if we increase the amount of money then the economy stimulates spending and increases the demand of goods and services in the economy. Companies need to hire more workers to produce those goods. More hiring means lower unemployment.

I hope this guide will help you to have the better understanding in economy in general! Share it in the comments below your ideas about it! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Do you have a personal brand and you are wondering how to make it more successful and set apart all your competition? Then read my hottest tips for 2020 in this article!

Before we start let’s analyze what is brand positioning and why we need to work on it

What is Brand Positioning

Brand positioning is defined as the conceptual place you want to own in the target consumer’s mind — the benefits you want them to think of when they think of your brand.

It is very important to create our positioning statement, what is a one- or two-sentence declaration that communicates your brand’s unique value to your customers in relation to your main competitors.

Before we start to compose a positioning statement, we have to think about 4 key components

1.Product category

With which category your brand should be associated

2.Target market

Who will be your public?

3.Difference key point

What benefit have your brand?

4.Reasons to believe

What proofs need to be demonstrated

After we analyze all these components, we can proceed to create our positioning statement. The following model is often being used.

To (target audience) Product X is the only (frame of reference) that (benefits delivered) because (reasons to believe)

Advantages of BP

·Customer loyalty

According statistic data, people tend to buy again from a well-positioned or well recognized brand as there is more trust to the product

·An improved image

·A relatable identity

·Better margin and sales

·Long-term results and presence in the market

Positioning strategies

1. Establish an emotional connection with your audience on a human level before going in for the hard sell builds trust. It will help your customer to have positive experience with your company’s brand.

2. Unique preposition. Try to stand out from a crowd offering your audience a unique preposition. Having so many options to choose from your customer should know exactly why he or she need to buy from you.

3. Become a solution

To be a solution is a rule number 1 in business world. Successful entrepreneur never thinks about gaining money only, but what he can offer to society. So, you should always be looking to problem solve on behalf of your prospect.

What do you think about brand positioning? Do you have a brand you would like to position better? Do you have any ideas about its strategy? Share it in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Starting a business is tough work. There are countless obstacles that stand in your way of fulfilling your entrepreneurial dream. Let’s analyze what you cannot do in order to achieve success!

Some mistakes related to our personality can easily lead to negative cash-flow, stuff rotation, accounting mistakes, lack of plan and strategic thinking. But remember if you are an entrepreneur – all in your hands and I hope after reading this article you will never face these obstacles.

Mistake number 1 - Being lazy and procrastinate

If you are lazy your business would never survive. Startup is countless hours work before successful business, there is nobody who can replace you and do things instead of you. Of course, you can delegate tasks to your stuff, but before you have a staff what would you do? And what about responsibility? It all falls on only your shoulders until.

So before start ask yourself an honest question? Are you ready to work countless hours, are you ready to constant extra-things? Because being a leader is always one thing extra – what would differentiate you from others. Its constant battle with yourself. And if it still sounds attractive for you then go for it! If no, you might haven’t found a niche that really your passion.

Mistake number 2- be afraid of making mistakes

A person who afraid of mistakes never risks, never takes decisions, never acts because they are afraid of failure. We need to understand that a failure can be our best friend, only after failure we start to reflect, analyze, we look deep inside, then create alternative solutions that can be genius! Don’t be afraid of mistakes just do it, you will never know what you will face during your way.

Mistakes number 3 – arrogance and inflexibility

Business is a way where you always have to learn. It’s not static It is dynamic, what means that you can encounter unpredictable situations where you have to adapt and come up with immediate solutions. Market and economy change, there is high picks and crisis, trends are changing as well so you have to take into consideration all that.

Arrogancy can lead to terrible mistakes due to overconfidence in yourself, thinking that you already know too much. There is never too much, there is always a lesson to be learnt, especially from other people. Listen carefully, take into consideration all opinion and chose your strategy wisely.

I hope this guide will help you in your way to successful startup! Do you have any ideas about mistakes that can kill your success? Share it in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech.

He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

China’s bitcoin miners now dominate global market, they control two-thirds of the crypto network’s processing power, according to latest researches.

To be more exact, miners in China control 66% of global “hashrate”.

What are the reasons of such domination?

These figures may be due to their greater deployment of more advanced mining gear, cheap electricity and affordable resources. Last year has been a relatively good year for miners in general, because total revenue was around $5.4 billion but China has always played a major role for bitcoin miners.

Who are the biggest players?

Chinese companies such as Bitmain and MicroBT are among the world’s biggest manufacturers of cryptocurrency. Another, Canaan (CAN.O), launched a $90 million initial public offering in November, indicating investor hunger for exposure to miners.

China has cracked down on crypto exchanges and fundraising in recent years, even as it develops its own digital currency. After looking at banning crypto mining, Beijing last month indicated it would not do so. Some analysts interpreted the move as indicating tolerance of the sector.

How to mine

Mining by solving special mathematical puzzles is a way to get bitcoins. If you are a crypto enthusiast and looking opportunities to mine, the first thing to do is to find a location where you could put all power to work, an existing building and big space for a few hundred high-speed computer servers, heavy-duty cooling system to keep them from melting down as they churned out the trillions of calculations necessary to mine bitcoin. Above all, you needed a location that could handle a lot of electricity—a quarter of a megawatt, maybe, or even a half a megawatt, enough to light up a couple hundred homes. There are some mining pools you can join but they ask entry fees that makes your profit less.

What expect from 2020?

2020 is going to be fruitful year for cryptocurrency, we are looking forward to the launch of China’s Central Bank Digital Currency, news surrounding Facebook Libra’s launch, the progression of Ethereum 2.0, and many more. What do you think about China’s role in global market? If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture

Swiss president just announced that Libra project has failed in its current form and needs reworking to be approved. Read in my article all latest concern about future of Libra’s project.

After Libra launch announcement there were many raised concerns among regulators and politicians regarding privacy to its potential to influence monetary policy and change the global financial situation. Regulators have expressed numerous concerns about Libra’s potential to erode countries’ control over their monetary policy and influence financial stability in negative way.

It also was said that central banks will not accept the basket of currencies underpinning it. Libra did not immediately respond to a request for comment.

When is the launch?

Co-creator David Marcus of Facebook have said that they could see the launch a bit delayed beyond the planned June date. But it seems that Libra project has no solid plan yet for how or where it will be launched still. The scope of Libra’s introduction, due by the end of June, depends on talks with regulators, said Patrick Ellis, one of five board members of the Geneva-based Libra Association that will issue and govern the digital currency. “It’s just too early to put a solid strategy in place,” Ellis said. “We have still got so much to solve with the regulators in order to be able to then refine the strategy for launch.

How will it work

The cryptocurrency is to be backed by a reserve of assets such as bank deposits and government debt held by a network of custodians. That structure is meant to foster trust and avoid the price swings that plague other cryptocurrencies.

Initially it was announced that Facebook won’t fully control Libra, but instead get just a single vote in its governance like other founding members of the Libra Association, including Visa, Uber and Andreessen Horowitz. But according latest news Facebook’s original backers, including Mastercard and Visa, ditched the project in October. Project PayU - international payments firm from Netherlands, of which Ellis is general counsel, is the only remaining firm among the association’s 21 members.

What do you think about new Facebook cryptocurrency project? Will it be successful? If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Last year was full of integrations and acquisitions, many companies merged together to collaborate, solve all possible issues and bring better results and profit. Companies invested in martech solutions to broaden their digital capabilities. Let’s review some major acquisitions from 2019.

Google acquires Fitbit for $2.1 billion

The San Francisco-based Fitbit designs different digital fitness trackers. It also supports its functions in smartwatches to keep pace with Apple and Samsung. It provides corporate wellness programmes for businesses and a set of applications for users to track their fitness.

McDonalds bought Dynamic Yield

In March, McDonald’s bought Dynamic Yield to personalize digital experiences across its drive-thrus, kiosks and mobile app from human-operated to machine-operated, cutting down on human time and error when taking orders through the terminal.

Nike buys Celect

Nike bought the predictive analytics platform Celect to help forecast how and when consumers purchase certain products.

Social platforms

-LinkedIn acquired identity resolution platform Drawbridge;

-Twitter purchased machine learning startup Fabula AI;

Facebook acquires CTRL-labs

Facebook is acquiring CTRL-labs ($500 million - $1 billion) – the New York-based startup that develop a 'brain-computer interface' via a proprietary software platform and wristband.

Also Facebook bought Grokstyle, a visual technology company originally aimed at retailers.

Apple acquires Intel's modem business for $1 billion

Apple bought Intel's smartphone modem business in July, to lower the cost of producing 5G-connected handsets, wearables and connected devices. This acquisition will bring around 2,200 Intel employees.

Microsoft acquires cloud migration specialist Movere

Microsoft announced it has acquired cloud migration specialist Movere in September.

- Salesforce

 Salesforce bought Tableau to broaden its data visualization capabilities. The deal delivered more robust tools for users, helping marketers better extract data from the Salesforce CRM platform.

-PayPal acquires Honey for $4 billion

PayPal will buy Honey Science Corporation – best known as the maker of the popular deal-finding browser add-on Honey – for $4 billion. Honey provides different services to simplify the consumer shopping experience.

Mastercard to acquire Nets for €2.85 billion

Mastercard announced it was buying Danish payments platform Nets in August. It will add the firm's clearing, instant payment services and e-billing software to its payments portfolio as a result in a bid to get closer to real time payments for its customers.

Amazon buys wi-fi router maker Eero

Amazon bought the wi-fi router company Eero in March. Amazon is expected to operate Eero as a standalone unit, headed up by existing CEO Nick Weaver, much like it has done with smart doorbell company Ring, which it acquired last year.

These were top acquisitions for 2019. What do you think about each one? Share in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Do you have your own e-commerce business? Read my top strategies that will help you to make it grow faster and blow your competitors out of water.

While the e-commerce economy is having a significant growth, you can only expect to see results if you apply right strategies. That means focusing on the following critical tips for ecommerce success.

1. Chose right e-Commerce platform

You need in-depth vision to identify any potential issues before they arise while doing your business. I strongly advice to evaluate all e-Commerce platforms because it will be an engine for your whole operation. Each has its pro’s and con’s.

You need to platform that would fit your needs

Things to consider are:

  • Pricing and payment, extra charges
  • Security
  • Marketing
  • Integrations, modules, API
  • SEO and mobile friendliness
  • Customer service

2.Invest time and efforts in SEO

As the e-commerce economy experiences rapid growth, more and more businesses will be entering this increasingly crowded space. That means it will be more important than ever to stay on top of SEO in order to stand out from the competition. Connecting with a skilled SEO will help you stay competitive in the long run.

3. Use all marketing channels

Apart of all social networks, I advise use other tools as newsletters to inform your database about promotions, evaluate opportunity to be present in different magazines or blogs. You also can automate your email marketing. Using pre-set triggers allows you to send hyper-relevant and timely messages seamlessly, delighting your subscribers. For instance, if a customer abandons his cart, an email can encourage him to revisit the site and complete the transaction.

4. Make it friendly in mobile

According statistic 61% of consumers said they were likely to leave if a site wasn’t mobile friendly. Common fact is that mobile-only users now exceed the number of desktop users around the world.

So, it is highly important to provide the best possible mobile experience for your customers.

I advise my clients to work on the following things

  • Make your site responsive
  • Site speed, make it faster
  • Optimize your mobile site and improve site search
  • Simplify the checkout process to reduce abandoned charts level

Running a lucrative eCommerce business is possible when you employ the right tools and tactics to grow your business. All it takes is some hard work and strategy to make it grow. What strategies did you use in your e-commerce business? Share in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Over the past year, so-called challenger banks and neobanks have been making headlines by attracting big venture capital investments. Those banks prove us that banking can be digital only. Let’s check the most outstanding challenger banks and neobanks in Europe!

Challenger Banks are “a new breed of technology-driven and customer-centric financial institutions”. Those banks offer cheaper, faster, customer-oriented financial products that have helped disrupt the industry.

1. UK Revolut

Launched back in 2015, Revolut is one of the largest challenger banks in the market. In March 2019 they reported they had hit 4.5 million customers, with 1.6 million being UK-based. They are one of the only challengers to allow customers to exchange money into cryptocurrencies and even a cashback with any purchase made on the Metal card.

2. Ireland. Fire

Thanks to their API it helps businesses to manage payments with digital accounts since 2009. It also supports a range of payment and financial services.

3. Germany. N26

N26 offers smart, flexible banking from your phone. Open a free bank account in minutes to get a contactless Mastercard and manage your money on-the-go. It has 3.5 million customers across 26 markets.

4. Netherlands. Bunq

Bunq was founded in 2015 in Amsterdam for both private and businesses accounts. Now it offers online financial services through the application online. Its users can request money from friends, split bills, and make payments in real time.

5. France. Nickel

Nickel is an alternative French banking service founded in 2014. Customers manage their accounts through a mobile app.

6.Belgium. Anytime

Founded in 2012 Belgium financial Startup Anytime offers to medium-sized enterprises (SMEs) and individuals current accounts debit cards and other financial services.

7. Switzerland. Neon

Neon it is a fintech startup from Switzerland that offer to its users easy digital banking solution with fairer prices and no base fees for the account and card.

8.Spain. Bnext

Bnext is a fintech platform headquartered in Madrid, Spain.Bnext is the first supermarket for financial products, it reflects a new way of banking that challenges traditional banking from its foundations. With Bnext users can do almost everything they do with a bank, without having to use a bank.

9. Portugal: Banco BNI Europa

Founded in 2014, Banco BNI Europa offers digital low-cost banking platform and innovative banking products to its users. Their competitive advantage is strategic collaboration with other Financial Startups and organizations

10. Italy: Hype

First challenger bank launched in Italy by Italian Bank allows to its users to send and receive money at zero costs and use prepaid card.

11. Norway: Aprila Bank

Aprila bank also provides personal savings accounts as well as does invoice financing. Its competitive advantage are functions like data-driven credit risk management and an innovative distribution model.

12. Finland: Holvi

Holvi helps mainly entrepreneurs and freelances to run effectively their businesses providing them with invoicing option and bookkeeping.

13. Denmark: Lunar

Lunar Startup is popular in Denmark, Sweden and Norway within business accounts and individuals. It allows to transfer money and pay bills. It also has launched its travel card – and the chance to experience the world without fees.

14. Sweden: Klarna

Sweden financial institution currently works with more than 3,000 U.S. retailers. Globally, it serves more than 60 million consumers, has 130,000 merchant partners, conducts 1 million transactions daily and is close to $1 billion in annual revenue, according to the company. In the U.S. company focuses on loan offerings. It plans now to conquer New Zealand and Australia.

Challenger Banks have had quite the success in the past year, revolutionizing the way banking is viewed. Traditional financial institutions aren’t asleep at the switch when it comes to these new kinds of banks. They are launching digital banks of their own that could pose a threat to independent challenger startups. What do you think about this battle? If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Meanwhile other countries analyzing a possibility to launch their own cryptocurrency, China is already implementing blockchain technology in numerous ways. China looks to become a world leader in blockchain. Let’s see how China managed to apply blockchain technology!

Smart City

There is a city identification code to link into a blockchain network developed by three institutes in Shijiazhuang city. This system will enable data sharing and interconnectivity between provinces.  By 2020 China government plan to make 100 smart cities with similar system.

Anti-counterfeiting blockchain system

China started to develop blockchain based system what is so-called an authentication method to detect fake products from liquor to pig meat.

Digital currency

The People's Bank of China (PBOC), the central bank, has been researching a digital currency since 2014 but recently accelerated its efforts in response to Facebook's proposed digital currency Libra, a platform-based payment service backed by a basket of currencies weighted towards the U.S. dollar.

Blockchain for financial applications

Ant Financial, a subsidiary of Jack Ma's e-commerce giant Alibaba, is using some of the $14 billion treasure chest to invest in blockchain. Jack Ma’s Ant Financial, have long been experimenting with blockchain for financial applications, such as cross-border micro-transaction payments, as well as medical reimbursement and leasing contracts.

Bitcoin mining companies

As many people know China is a home for mining companies. According to statistic Chinese bitcoin miners control 65% of the crypto network's processing power. China’s Sichuan province alone produces 54% of global hash rate. The remaining 35% of bitcoin miners are spread from the U.S. to Russia and Kazakhstan.

Investing in blockchain projects

China due to more and more favorable blockchain climate attracts blockchain related investors. According to Financial Times, value of stocks was increased for 10 %. The city of Guangzhou, a blockchain innovation hub since, last week introduced a $150 million initiative to support two public or private-based blockchain projects per year.

China appears to be the biggest nation to have come out with a blockchain policy. Other places in the world, like Switzerland and Gibraltar, have introduced friendly policies to encourage blockchain firms to set up there. What do you think about cryptocurrency? Do you agree that China can be next world leader in terms of blockchain? Share in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

With a recent pledge towards blockchain technology, many countries are pushing for an advantage in a technological arms race.

Thus, Federal Reserve Chairman Jerome Powell confirmed US central bankers have explored the possibility of developing a digital currency that would be directly available to businesses and households. It will be called Central Bank Digital Currency (CBDC).

As we know some other countries, as China have also hinted at launching their own national digital currencies trying to be ahead in digital currency revolution.

“We have assessed and we continue to carefully analyze the costs and benefits of pursuing such an initiative in the U.S.," Powell wrote in the report.

Such an implementation would raise a host of legal and operational questions, but US bankers are sure US could be in some ways better positioned than other countries

Digital-currency proposals have emerged throughout the private sector over the past year — including at Facebook, JPMorgan, and Wells Fargo — though some policymakers have flagged them as potential risks to monetary policy and financial regulations.

What is digital currency or stablecoins?

Stablecoins are cryptocurrencies that were designed specifically to prevent big changes in their value, by tying themselves to another asset, like the U.S dollar or gold. This makes them much more stable and predictable than, for example, Bitcoin or altcoins.

Some stablecoins like Tether or TrueUSD or Libra are “fiat-backed,” which means that for every unit of cryptocurrency issued on these blockchains, some amount of any currency (dollar, euro, pound, yen, etc.) is being stored somewhere. Being fiat-backed means that they are highly-centralized, and you really need to trust the company controlling these tokens. Without independent audits, there’s no guarantee that they’re not just printing themselves free money and using it to buy other assets that have actual value.

What do you think about digital currency implementation in US? Which country do you think will be ahead in a digital revolution? Share in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

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