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Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff. EFT's are known by a number of names. In the United States, they may be referred to as electronic checks or e-checks.
The term covers a number of different payment systems, for example:
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The technology likely to have the greatest impact on the future of the world economy has arrived, and itâs not self-driving cars, solar energy, or artificial intelligence.
Itâs called the blockchain.
The first generation of the digital revolution brought us the Internet of information. The second generaÂtionâpowered by blockchain technologyâis bringing us the Internet of value: a new, distributed platform that can help us reshape the world of business and transform the old order of human affairs for the better.
Blockchain is the ingeniously simple, revolutionÂary protocol that allows transactions to be simulÂtaneously anonymous and secure by maintaining a tamperproof public ledger of value. Though itâs the technology that drives bitcoin and other digital curÂrencies, the underlying framework has the potential to go far beyond these and record virtually everything of value to humankind, from birth and death certifiÂcates to insurance claims and even votes.
Why should you care? Maybe youâre a music lover who wants artists to make a living off their art. Or a consumer who wants to know where that hamburger meat really came from. Perhaps youâre an immigrant whoâs sick of paying big fees to send money home to loved ones. Or an entrepreneur looking for a new platform to build a business.
And those examples are barely the tip of the iceÂberg. This technology is public, encrypted, and readily available for anyone to use. Itâs already seeing wideÂspread adoption in a number of areas. For example, forty-two (and counting) of the worldâs biggest finanÂcial institutions, including Goldman Sachs, JPMorgan Chase, and Credit Suisse, have formed a consortium to investigate the blockchain for speedier and more secure transactions.
As with major paradigm shifts that preceded it, the blockchain will create winners and losers. And while opportunities abound, the risks of disruption and dislocation must not be ignored.
Don Tapscott, the bestselling author of Wikinomics, and his son, blockchain expert Alex Tapscott, bring us a brilliantly researched, highly readable, and utterly foundational book about the future of the modern economy. Blockchain Revolution is the business leadersâ playbook for the next decade and beyond.
New York Times Book Review Editorâs Choice
SHORTLISTED FOR THE 2015 FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF THE YEAR
A New York Times technology and business reporter charts the dramatic rise of Bitcoin and the fascinating personalities who are striving to create a new global money for the Internet age.
Digital Gold is New York Times reporter Nathaniel Popperâs brilliant and engrossing history of Bitcoin, the landmark digital money and financial technology that has spawned a global social movement.
The notion of a new currency, maintained by the computers of users around the world, has been the butt of many jokes, but that has not stopped it from growing into a technology worth billions of dollars, supported by the hordes of followers who have come to view it as the most important new idea since the creation of the Internet. Believers from Beijing to Buenos Aires see the potential for a financial system free from banks and governments. More than just a tech industry fad, Bitcoin has threatened to decentralize some of societyâs most basic institutions.
An unusual tale of group invention, Digital Gold charts the rise of the Bitcoin technology through the eyes of the movementâs colorful central characters, including an Argentinian millionaire, a Chinese entrepreneur, Tyler and Cameron Winklevoss, and Bitcoinâs elusive creator, Satoshi Nakamoto. Already, Bitcoin has led to untold riches for some, and prison terms for others.
Bitcoin became a buzzword overnight. A cyber-enigma with an enthusiastic following, it pops up in headlines and fuels endless media debate. You can apparently use it to buy anything from coffee to cars, yet few people seem to truly understand what it is. This raises the question: Why should anyone care about bitcoin?
In The Age of Cryptocurrency, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency holds the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.
But bitcoin, the most famous of the cybermonies, carries a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation-state. It implies, above all, monumental and wide-reaching changeâfor better and for worse. But it is here to stay, and you ignore it at your peril.
Vigna and Casey demystify cryptocurrencyâits origins, its function, and what you need to know to navigate a cyber-economy. The digital currency world will look very different from the paper currency world; The Age of Cryptocurrency will teach you how to be ready.
Blockchain is the technology behind Bitcoin, the revolutionary 'virtual currency' that's changing the way people do business. While Bitcoin has enjoyed some well-deserved hype, Blockchain may be Bitcoin's most vital legacy. Blockchain For Dummies is the ideal starting place for business pros looking to gain a better understanding of what Blockchain is, how it can improve the integrity of their data, and how it can work to fundamentally change their business and enhance their data security.
Blockchain For Dummies covers the essential things you need to know about this exciting technology's promise of revolutionizing financial transactions, data security, and information integrity. The book covers the technologies behind Blockchain, introduces a variety of existing Blockchain solutions, and even walks you through creating a small but working Blockchain-based application.
Blockchain holds the promise to revolutionize a wide variety of businesses. Get in the know about Blockchain now with Blockchain For Dummies and be ready to make the changes to business that your colleagues and competitors will later wish they'd done. Discover ten ways Blockchain can change business
Filled with vital information and tips on how this paradigm-changing technology can transform your business for the better, this book will not only show you Blockchain's full potential, but your own as well!
The definitive pioneering blueprint covering the what, why and how of the blockchain.Â
Blockchains are new technology layers that rewire the Internet and threaten to side-step older legacy constructs and centrally served businesses. At its core, a blockchain injects trust into the network, cutting off some intermediaries from servingÂ that function and creatively disrupting how they operate. Metaphorically, blockchains are the ultimate non-stop computers. Once launched, they never go down, and offer an incredible amount of resiliency, making them dependable and attractiveÂ for running a new generation of decentralized services and software applications.Â
The Business Blockchain charts new territory in advancing our understanding of the blockchain by unpacking its elements like no other before. William Mougayar anticipates a future that consists of thousands, if not millions of blockchains that will enable not only frictionless value exchange, but also a new flow of value, redefining roles, relationships, power and governance. In this book, Mougayar makes two other strategic assertions. First, the blockchain has polymorphic characteristics; its application will result in a multiplicity of effects. Second, we shouldnât ask ourselves what problems the blockchain solves, because that gives us a narrow view on its potential. Rather, we should imagine new opportunities, and tackle even more ambitious problems that cross organizational, regulatory and mental boundaries.Â
Drawing on 34 years of technology industry experience as an executive, analyst, consultant, entrepreneur, startup mentor, author, blogger, educator, thought leader and investor, William Mougayar describes a future that is influenced by fundamental shifts brought by blockchain technology as the catalyst for change.Â William Mougayar has been described as the most sophisticated blockchain business thinker. He is a blockchain industry insider whose work has already shaped and influenced the understanding of blockchain for people around the world, via his generous blogging and rigorous research insights. He is a direct participant in the crypto-technology market, working alongside startups, entrepreneurs, pioneers, leaders, innovators, creators, enterprise executives and practitioners; in addition to being an investor, advisor, and board member in some of the leading organizations in this space, such as the Ethereum Foundation, OpenBazaar and Coin Center.
Just as the Internet created new possibilities that we didnât foresee in its early years, the blockchain will give rise to new business models and ideas that may still be invisible. Following an engaging Foreword by Vitalik Buterin, this book is organized along these 7 chapters:
1. What is the Blockchain?
2. How Blockchain Trust Infiltrates
3. Obstacles, Challenges & Mental Blocks
4. Blockchain in Financial Services
5. Lighthouse Industries & New Intermediaries
6. Implementing Blockchain Technology
7. Decentralization as the Way Forward
The Business Blockchain is an invitation for technologists to better understand the business potential of the blockchain, and for business minded people to grasp the many facets of blockchain technology. This book teaches you how to think about the blockchain.
The innovative investorâs guide to an entirely new asset classâfrom two experts on the cutting edge
With the rise of bitcoin and blockchain technology, investors can capitalize on the greatest investment opportunity since the Internet. Bitcoin was the first cryptoasset, but today there are over 800 and counting, including ether, ripple, litecoin, monero, and more. This clear, concise, and accessible guide from two industry insiders shows you how to navigate this brave new blockchain worldâand how to invest in these emerging assets to secure your financial future.
Cryptoassets gives you all the tools you need:
* An actionable framework for investigating and valuing cryptoassetsÂ
* Portfolio management techniques to maximize returns while managing risk
* Historical context and tips to navigate inevitable bubbles and manias
* Practical guides to exchanges, wallets, capital market vehicles, and ICOs
* Predictions on how blockchain technology may disrupt current portfolios
In addition to offering smart investment strategies, this authoritative resource will help you understand how these assets were created, how they work, and how they are evolving amid the blockchain revolution. The authors define a clear and original cryptoasset taxonomy, composed of cryptocurrencies, cryptocommodities, and cryptotokens, with insights into how each subset is blending technology and markets. Youâll find a variety of methods to invest in these assets, whether through global exchanges that trade 24/7 or initial cryptoasset offerings (ICOs). By sequentially building on the concepts of each prior chapter, the book will provide you with a full understanding of the cryptoasset economy and the opportunities that await the innovative investor .
Cryptoassets represent the future of money and markets. This book is your guide to that future. Â Â
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