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What It Takes to Be A Successful On-Demand Handyman App

Posted on by Shipra

Currently we are living in a world where people want different services at their doorstep at an instant touch. We are living in an era, where services are made available and accessible at our fingertips. This instant touch idea has increased more since the day of launch of Uber, it has paved the path for developers to reach customers and users faster. It has also paved the path for users and customers to meet their service requirements easily. Most of them may find it hard, trying to balance their professional life and personal life. For example, take a situation where an individual is working at office but there has been a requirement of electrician at home by the individual’s mother. In such situations, ondemand handyman mobile app will be extremely helpful. 

Ondemand Handyman App like Uber 

Developing on-demand apps for handyman business allows customers to hire electricians, carpenters or any such home maintenance services on the go. Also, hiring home maintenance service providers through mobile applications help in accomplishing your repair works quickly and easily.  Hence, ondemand handyman apps have potential to be one of the next big trending life-style ondemand mobile applications that help users. 

Factors That Your ondemand Handyman App Should Satisfy And Pave The Path To Success 

Handyman services

Users Should Be Able To Save Their Time 

Customers and users can focus on their chores with undivided attention on both their daily activities and repairs required without letting repair works affect their planned schedule. No matter the time and situation, your on demand handyman software app should provide users with the ability to easily, quickly and instantly hire a home repair or maintenance person. In addition, the user must be able to save time in searching and looking for a quality home repair or maintenance person. The below feature will allow users to save time in large while hiring any home service provider. 

Save time by making appointments online 

Users and home service providers should be provided with the ability to connect with each other through video and voice calls. Further, these features allow meeting the users requirements quickly and efficiently. Once an appointment has been made through voice and video call, your ondemand handyman app should send a notification of appointment confirmation. And, this notification must allow the user to see necessary information of time, address and contact info of the home service provider. 

Effortless accessibility to home services 

Ensure to tie-up with a third-party home service provider and also local home service people such as electricians, plumbers, home repair service people, etc. Ensure that users have sufficient information about the home service provider in your ondemand handyman app. This information should include phone numbers, visiting address or website, etc. Through such information, users should be able to get easy accessibility without delay in order to meet their requirements. To make necessary information available to users and home service providers, make sure to develop the following features. 

Sign-in and Sign-up provision for users and home service providers 

New users must be able to use the sign-up provision and create a portfolio of themselves with necessary information. This information allows home service providers to contact the user. Existing users must be able to use the sign-in provision and use any feature in-app feature hassle-free. 

New home service providers must be able to sign-up and provide necessary information on maintenance services provided in their portfolio. This information should include name, contact number, company name in case of a third-party service provider, e-mail id, address and the fee charge. This information should be visible to users to validate the home service provider. Existing home service providers must be able to sign-in and accept appointments, use in-app features and update their information if required. 

Ensure the ondemand handyman app is flexible and reliable 

You can provide users with 24/7-hour service and accessibility to home service providers. However, still sometimes due to unforeseen circumstances, it might not be possible to accept an appointment as scheduled. These unforeseen circumstances include network failure, system maintenance, natural calamities, personal problems of the home service provider, etc. 

In such circumstances, the administration or the home service provider themselves must be able to change and update the scheduled appointment. This change and updated appointment time must also be notified to the user by your ondemand handyman app notifications. This provides a sense of reliability in the minds and hearts of the user. This in turn would create brand loyalty too. 

The below two features are some of those features if developed correctly will enhance reliability. 

Provide hassle-free payment methods 

User should be provided with multiple alternate payment mode of choices. These multiple alternate payment modes include:

  • debit card,
  • credit card,
  • e-wallets,
  • digital wallets and
  • cash.

All this makes the payment process faster without any wait time or delay. 

Efficiently manage schedules and appointments made 

Once home services providers make any edits in the scheduled appointment or portfolio, the user must be notified of those updates in real-time. This will enhance the user experience and also eliminate any miscommunication or confusion. 

Effortlessly locate nearby home service providers 

Make sure that all registered home service providers in your ondemand handyman app is visible by special markets in real-time. Further, the location and map should be accessible through your ondemand handyman app. It must allow users to locate home service providers near to them and get instant access as fast as possible. 

Live tracking feature enhance user and home service provider relationship 

Ensure that the map you provide operates in real-time. Also, users must be able to track their home service providers. This tracking should be available in terms, time remaining to reach the user, days remaining to accomplish the scheduled home service or maintenance, etc. This allows users to be informed that there is no change or update in the scheduled appointment and everything is according to plan. This eases the user to have peace of mind too. 

Over to you!

Ondemand Handyman App

When you are able to satisfy users with their home requirements, it by itself enhances customer loyalty. This in turn, will provide your ondemand handyman app a competitive edge in the market. Hence, ondemand handyman app has the potential to revolutionize and disrupt the service industry.   

Uplift Your Food Truck Startup With Mobile App Development

Posted on by Shipra

To all the food truck owners, who are making a difference in the world by filling the hungry stomachs of people. Nowadays food truck owners are relying heavily on the latest technology to run their operations. Increasing sales by being a part of different food festivals quickly is possible by developing a mobile app for Your food truck startup. Do you want to stay ahead of your competition? Keep Reading. 

Why Does Food Truck Startups Need Mobile App Development? 

As a food truck startup, you may feel, you are already happy with the consumers you have and the amount of revenue you may get. You may also feel that your food truck startup has the potential to grow even more but you do not know how to grab customers and sustain them. This is one of the major reasons why you need an on-demand food delivering app development or a restaurant finder app development. It helps in enhancing customer satisfaction, customer retention and finding new customers every day. 

It may not be in your agenda to develop a mobile app for your food truck business but this article will prove to you that, a mobile app will help your food truck business to save time and also generate higher Return on Investments (ROI). 

food truck startup

The mobile app serves to be a ladder that uplifts your food truck startup 

Maximizing profits and leveraging the environmental variables to the success of food truck startup with convenience is possible with mobile app development. Following are some of the approaches on how you can uplift your food truck business with a food delivery mobile app. 

Build and increase your food truck brand image 

Customers today not just prefer food. They prefer to have a story or history behind the food they eat. Use the mobile app platform to tell a story about the ingredients of the food you provide. Talk about if it is homemade or organic. Let customers read such information through your food truck mobile app. This automatically builds a brand image for your food truck business. With such a mobile app, the story of your food truck, in turn, will have the capacity to reach customers worldwide. 

Engage customers with a customized taste 

Use the mobile device platform to obtain food tastes and preferences of your customers. This helps you to understand your customer behavior and also provide food services accordingly. You can use the same platform to allow customers to order food online and get it delivered to their doorstep or order online and pick it up to their convenience. With such services, you can provide a taste of food depending upon customer inputs and seasonal differences. 

Provide coupons and offers based on locations 

Different customers have different preferences, likes and buying behavior. But, all customers are common when it comes to the attribute of discounts and offers. No customers will say no to that. Increase awareness on the fact that customers will have accessibility to discounts and offers when they order and pay through your food truck mobile app. This will increase your mobile app users. You can use the same platform to provide coupons and promotional codes that customers can use to avail offers. 

Provide loyalty benefits to customers 

When you successfully accomplish all the above, automatically most of the customers will start being loyal to your food truck business. They also indirectly increase your brand image and customer base through word of mouth. Now you understand that you need to retain such kind of customers for life with loyalty towards your food truck business. And such kind of loyalty does not come easy. 

You can provide customized benefits or the same benefits to all loyal customers in terms of free food on a particular day or special care during festival occasions, etc. through your food truck mobile app. It is your choice and another story that builds the brand image for your food truck startup. 

Stay environment-friendly with e-transactions 

Today customers not just eat, they are aware of the pollution problems. The world today is aware of the problems caused by degradable materials such as plastics and polythene bags. It is highly important for you to be aware of this too. Hence, allow customers to order online and pay online to avoid paper transactions. Use paper bags for delivery of foods and use degradable materials such as the strong leaf of compostable plastics to preserve food. 

Also, spread eco-friendly awareness through your food truck business. This serves as a Corporate Social Responsibility (CSR) even though your food truck may just be a startup. Who says you can’t compete with a big giant, right? Don’t let anything stop you from doing good and being good. 

Pull customers with mobile Wi-Fi hotspot 

There is nothing more that will make customers happy than free Wi-Fi. Your food truck can provide free Wi-Fi that customers can use to use mobile internet and also access your food truck mobile app for special offers. You can combine different food services of your food truck via this mobile hotspot to understand customers even better. 

For example, using of Intranet or Wi-Fi from your food truck router, you can configure your mobile app framework to analyze how many times customers purchase what food and when. This also helps you to understand foods that do not move and foods that sell often. You can also track how many times a customer buys a particular food based on their number of clicks for a particular food in your food truck mobile app. 

Conclusion: On-demand food truck mobile app help customers understand your business 

If you think that building a mobile app is the end of your food truck journey, again you are wrong. Why stop when you can expand more? The mobile app is a stepping stone to your food truck business in sustaining within the competitive food truck markets.  The next step is building a website that integrates your food truck business with your food truck mobile app. Want to know more? Get in touch with us for more information and avail our expert development services. 

 

How To Increase ROI Through Food Ordering And Delivering Apps?

Posted on by Shipra

A customer’s perception on choosing a food and ordering online varies depending upon their preferences. But, in the perspective of a restaurant, you have to satisfy all those customer needs. And, also generate a profitable ROI by providing customers with a unique restaurant mobile app solution.  Restaurant app development must be inclusive of features that meet your customer expectations as well as meet your restaurant ROI generating mission goals. Looking for ways on how to generate higher profitable ROI through your food ordering and delivering apps? You have come to the right  place. This article discusses on different approaches on how you can increase your ROI through food ordering mobile app development. 

Game-changing Ways To Increase ROI For Your Online Food Ordering And Delivering App

restaurant-app-solution-Customer App

Following are some of the approaches that your food business can channelize the efforts. These efforts will increase sales, increase customer satisfaction, increase customer base and, in turn, increase ROI. 

Offering deals never goes out of style 

You can offer various kinds  of deals to your customer through your food ordering and delivering app to increase the ROI.  Below are some of the efficient deals and offers that satisfy customers and also increase customer loyalty. 

Deal based on geo-location 

Each place has a customer segment of its own with different food preferences. In every place, there will be a majority segment of food that is mostly preferred by customers. This varies from place to place. For example, one particular customer community might prefer more of sugary foods. Another customer community may prefer more of spicy foods, while as a different customer community may prefer spicy foods mixed with a pinch of sugary combo and so on. Being in the food  business, first you have to understand the food preferences of each place and then customize foods according to the location to meet the majority customer group expectations. 

For each of these location-based food preferences, you can give discount offers accordingly. You can even promote people to try different food preferences by giving discounts to expose customers towards new taste or while trying to figure out if a particular food will sell best at the current location. 

Deals through geo-fencing

Have you got notified by a restaurant regarding its food offers based on the location when you are travelling or just walking past a restaurant?  This is possible through geo-fencing technology. You can use the beacon technology to detect customers location through their mobile UPS. This helps You to provide them with relevant push notifications such as offers, promotions and discounts. 

Build strategic customer loyalty programs  

Without customer loyalty, generating ROI becomes almost impossible. If customers don’t find a unique reason to come back and use your food services, then the chances of losing your food business becomes higher. But, if you increase customer loyalty, even the chances of expanding your food business throughout the country becomes a piece of cake. 

Increase customer loyalty by providing convenient payment options to customers. Also, provide interesting combo offers or a free merchandise for every purchase and order. You can also provide double offers of special occasions such as friendship day, Valentine’s  day, Christmas, New Year, ThanksGiving, etc. These special offers can be customized even further by providing offers once a week on special food items that don’t sell much to decrease the shelf life of all food products. 

You have to understand that Fast Moving Consumer Goods (FMCG) is a constant demand. And,  if you find any food product that is not moving, then either you change the menu, remove the particular food product or sell it through offers. You can also increase customer loyalty by allowing customers to decide their own ingredients and combo packs like in the case of Subway. 

Allow customers to make reservations 

Sometimes customers may want to book tables at your restaurant rather than ordering them online. Make the process of reserving tables easier and quicker. Through your food ordering and delivering app, customers must be able to quickly connect with your executives through a call or a chat to make reservations at their preferred day, date and location. For special reservations such as birthdays, anniversaries, event hosting or product launches, you can host their celebrations in such a that it is memorable to everyone who attends it. 

This is also a way to increase customer loyalty. Thus, make the process of making reservations pleasant for your customers. 

Integrate social media features with your food ordering and delivering app 

Don’t forget the importance of social media. They have the ability and capability to directly, indirectly increase and reduce your food business value. It all depends on your quality of service. Integrate social media features that allow customers to post photos. Customers can give reviews about your food business in platforms such as Facebooks, Instagram, Uber Eats, etc. 

One customer post one photo,  ten customers may see it and hundred customers may talk about it. This leads to at least fifty customers try your food ordering services. If one photo has that kind of reach, imagine how much customers a lakh of photos would bring to try your food services. The same is possible with reviews. Always respond to customer reviews as quickly as possible. Delayed response and failure to responding customer queries will only reduce your food business value. Also, the chances of your brand image to get hurt is high. So, never underestimate the power of customers connecting with each other through social media. Use the technology to your advantage. 

Provide order online-takeout services 

There are customers who prefer to pick-up their food themselves because they believe that self-pick up means better food quality and the chances of food not getting destroyed by delivery professionals are also high. Delivery professional have one too many customers to deliver foods at doorstep before maximum delivery time. So, in the rush to quickly deliver, they may tend to drive rash or faster which may destroy the food quality. Hence, self-pick up ensures customer satisfaction too. 

Allow customers to order food online and pick up the order themselves at their own scheduled timings. You can also increase your Point of Sales (PoS) by using PoS systems. PoS systems increase the volume of order, efficiently channelize investments into all food operations such as resource procurement, manufacturing and logistic support. 

In a nutshell: Implement efficiently and increase your ROI positively 

restaurant-banner

Using technology at the right time and right place can create wonders for your online food ordering business. Using technology at the wrong time and place can accomplish the exact opposite of profits. Such situation you would not want to happen or even dream of. For example, using ondemand call buttons in your food app can connect customers with your restaurant instantly. Implementing this in a place where majority customers use mobile internet will be successful. However, if you implement the same in a place where customers using mobile internet are fewer, it may cause a heavy loss. 

So, count your unique ideas, establish a unique selling proposition,  create a wonder of ordering food without hurting the comfort zone of your customers. Accomplish this and your ROI of food ordering and delivering app would increase at a rocket speed. Let us know what are the other way do you think, ordering food online businesses can increase their revenue. 

Hyperledger Fabric: Business Use Cases

Posted on by Shipra

Talking about Hyperledger Fabric, it came up in the year 2015.  Hyperledger was built by Linux Foundation along with the involvement of IBM. It is often referred to as the backbone of many blockchain enterprise systems. The aim of creating Hyperledger was to increase efficiency among multiple businesses. It consists of several strategies such as the umbrella strategy, with the help of which, promotion of several blockchain technologies along with other frameworks, libraries and applications can be done as well.                                        

Advantages And Business Use Cases of Hyperledger Fabric

Hyperledger has several advantages such as permissioned membership, performance and security of data. Let’s run through business use cases of hyperledger fabric.

Pharmaceuticals

Below mentioned are some of the important use cases For Pharmaceuticals. In April 2017, IBM announced that a number of new blockchain enterprise system will be built on Hyperledger Fabric. For pharmaceuticals, partnership was done with Chinese conglomerate Sichuan Heija.  Security of the finance is quite difficult for the small and middle-sized retailers as the credit system is not much developed. Also, credit evaluation is not established. The payments are often late around 60-90 days after the pharmaceuticals have been delivered.

However, with the help of Hyperledger tracking of drugs can be done easily that too all the way through the supply chain thereby encrypting trading records. With this, the payment period will be reduced and also the credit risk will be lowered too.

Trade Financing

A platform was created for trade financing in the same month of April 2017, with partnership of IBM and Japan’s Mizuho Financial Group and Mizuho bank. With the help of this, there was a reduction in the time of deal processing from a couple of days to a couple of hours. Over and above, there was a noticeable reduction in cost of labour. Further, it provided more transparency to the process.

Education and Training

For the improvement of education for  the students in t in April 2017, IBM partnered with National University of Singapore for the development of the module on financial technology. It was implemented in the year 2018. And, the main aim of the module is to make students know the technologies behind the distributed ledgers and various cases where they are used.

Smart Energy Management

This project was announced in May 2017 along with the partnership of IBM with Tenne T, Sonnen and Vandebron. Here,  a database is being developed to manage the electricity grid in Germany and Netherlands. With the help of this, the areas that are lacking in electricity will be identified. Also, with the help of other electric resources the power gap will be filled. The sources include electric cars, batteries etc.

Supplychain

In the past years, global commerce has shown exponential growth with around 246.15% increase. By 2021 it is expected that it will reach $4.5 trillion. In December 2017 IBM partnered with Walmart to track food staples from supplier to shelf. The supply chain is quite larger. And, due to this technology only, the proper supply is being made. Due to this more retailers are wishing to collaborate and are showing interest in Hyperledger.

Conclusion : 

Hyperledger is not just only about blockchain, it goes far beyond that, extending in both business and manufacturing worlds. 

The main purpose of hyperledger fabric is for high-scaling business applications, creating and delivering structured solutions for enhancing and making the most effective use of existing processes, as well as establishing new ones. Research has proven it to be a secure blockchain enterprise network with huge potential, where every business can benefit from. 

 

Is Android a Preferred Platform for On-demand App Development?

Posted on by Shipra

Today we have mobile apps for everything. From ordering food to booking movie tickets, mobile apps have transformed our lives. However, have you ever observed that most of the on-demand apps use Android? In fact, an on-demand app development company often prefers the Android platform over the iOS. What is so special about Android OS? Why are companies choosing Android platform for on-demand app development? What does the mobile app market have to say about this? 

The two most popular smartphone operating systems in the market now are Google’s Android and Apple’s iOS. However, Android has an edge over iOS when it comes to on-demand mobile apps development. Well, why is Android a  preferred platform for on-demand mobile app development? Let us take a look at some statistics.

In 2017, there were almost 2.8 million Android apps in Android’s Play Store. But, Apple’s App Store had only 2.2 million iOS apps. Besides, on an average, people have over 60 to 90 mobile apps in their smartphones. Well, mobile apps have become a necessity for everyone. Having said that, you must be wondering which mobile OS has a larger market share?

 

 

According to Statcounter, the market share of Android mobile operating system worldwide till October 2018 is 74.69% compared to only 22.34 %of the iOS mobile operating system.

It is clear that the Android platform has a much larger customer base than iOS. In fact, any startup aiming to have a flourishing business will definitely opt for the Android OS. So, why is Android platform preferred for app development? Let us take a detailed look.

Huge market share

If you consider the market share of Android, it has always beaten its counterpart which is Apple. In fact, there is a wide margin between the market share of both Google and Apple.

According to Statista, today the Android platform has almost 88% market share. Besides, the rising popularity of Android devices has a direct impact on the Google Play Store. It is now the biggest app store in the whole world. Further, it has an app download record of 3.6 million until March 2018.

 

Indeed, the Android operating system has empowered most of the smartphones worldwide. Thus, having an on-demand app on Google Play Store is the wisest option if you wish to cover a large audience.

 

Easy customization and personalization

Customers have always preferred apps which have the ability to personalise and customise according to their interests. Besides, it is a fact that on-demand apps require regular updates to meet the changing requirements of the customers. 

 

Moreover, Android apps have a higher customizability than iOS apps. Android allows users to add widgets to their home screen as per their convenience. It also helps in easy transfer of contacts, apps and other data. Besides, it not only allows grouping of icons together in folders but also redesigns the look of your home screens. However, in iOS platform, one can place widgets only in the NotificationCenter.

 

Also, one can easily set up default apps of their own choice. Thus, entrepreneurs can modify apps in an easy manner with the Android platform. Further, this OS helps to meet customer requirements and explore new ways for boosting businesses.

Abundance of Features

On-demand applications always need certain important features like the Maps, GPS functionality, navigation, etc. For instance, an on-demand food delivery app can never work without a proper functioning of GPS and Google maps. Moreover, the Android OS has an edge over iOS when it comes to the availability of features. 

 

Also, on-demand apps assist users to find any location in real-time with the help of inbuilt Google Maps. Besides, messenger apps like Gmail and Google Assistant can improve communication between companies and customers.

Data Storage Capacities

It is clear that the Android operating system has an edge when it comes to cloud storage. The various advantages of data storage facilities in Android are as follows:

 

  • It has a 15GB storage capacity for free. Besides, it also has a cross-platform support.
  • The popular ‘Google Drive’ is the best platform to save valuable data without worrying about losing it.
  • The cloud storage of Android is much easier to access and is more effective than iCloud that offers only a space of 5 GB for automatic backup of photos and videos.
  • In Android, Google Photos allows unlimited backup of photos. Other alternatives include OneDrive, Amazon Photos and Dropbox.

 

Thus, all mobile apps that deal with customer’s data must prefer Android to other platforms. Moreover, an on-demand app development company can have a Google Drive integration in an app for helping customers to store their data safely.

Voice Assistance

Today, Google is one of the largest search engines in the world. As Google Assistant is by Google, it has access to millions of data points too. This makes Google Assistant more powerful and versatile. Though Apple’s Siri has many updates that make it look better, Google’s voice assistant is better. This is because the Google Lens has a recognizable object mode too with a keyboard input query.

 

So, with the present Google’s voice search facility, users of on-demand apps can search easily. They can also stay updated regarding any sort of contextual information. Moreover, the voice assistant has a conversational approach and can offer customized recommendations to the users.

 

Updates and Notifications

An on-demand app is nothing without the ability to send regular notifications to its users. In fact, the push notifications keep the users updated about useful information or recent updates. Moreover, the promotional offers and company activities are the most important part of digital marketing. So, notifications can help by playing a vital role here. They can spread awareness and aid in boosting the business. 

 

Besides, an Android OS is much robust as it can handle multiple notifications from a single app very well. Users can respond to notifications without opening the app. Apart from this, the persistent notification feature is only available in Android. Apple is yet to adopt this feature.

 

Multi-language Support

Most of the on-demand apps are of Business To Consumer(B2C) type. Thus, it is really important that apps must be available in all the languages. Moreover, if a company wishes to have a larger target audience, it must try to incorporate more languages. Well, when it comes to multiple languages, Android wins. 

 

The Android OS supports more than 100 languages. But,  the iOS platform supports only 34 languages. That is why the Android OS is suitable for developing on-demand apps. Also, localization of your apps makes it the best choice in the market. Besides, most of the popular apps for eCommerce, health, and other sectors use Android.

 

Signing off…

To sum up, the demand for on-demand apps is growing these days. People don’t have time for most of their daily chores and rely heavily on mobile apps that ease everything. Be it, healthcare, beauty, cab service or food, on-demand app development is the need of the hour. 

Besides, a company might often not know about choosing between iOS or Android on-demand mobile app development. Well, Android is the winner here. It has numerous features like voice assistance, easy and seamless customization, larger audience etc. That is why an on-demand Android mobile app is the best choice for your business. 

SoluLab has been recognized as one of the leading mobile app development companies in Los Angeles.

Blockchain In Stock Trading – Opportunities Lie Ahead?

Posted on by Shipra

In stock market, transactions happen in vast quantities and constantly.  Further, transfers and transactions of huge amounts happen every second. Recently, blockchain trading platform has embraced the stock marketing. Blockchain provides opportunities in stock trading by overthrowing the traditional methods of transaction. With blockchain, stock trading can move towards an enhanced digital trading stock marketing. Blockchain provides potential for forecasting and trading in a secured channel of transaction. 

Stock Market and Blockchain  

Blockchain Opportunities in Stock trading

Blockchain, a decentralized platform, operates with freedom from the vulnerabilities of any central authority. With this feature, blockchain development technology allows stock traders to self-execute operations. Similarly, it allows users to self-verify stock transactions regarding their stock activity too. This benefits all users and stock traders in numerous ways. Further, it saves time by eliminating the need for manual transaction and cost incurred in hiring a stock broker. 

With blockchain, users can directly connect to stock sellers. Blockchain eliminates the multiple intervention of third-party service providers and stock brokers. Here, all transactions are automatically recorded as a digital ledger. Thus, all transactions are accounted for, which in turn increases the authenticity and helps in making smarter decisions too. 

Blockchain opportunities in stock trading

Blockchain stock trading 

Provides enhanced transparency and fair trading 

Blockchain, with its decentralized storage, operates as an automated system. The system focuses on surveillance of every transaction that takes place between sellers and buyers in stock trading. This allows users to track their stock orders in real-time. It also enables users to make smart decisions in real-time regarding when to buy and sell stocks. 

With the enhanced transparency, it is easier for legal committees to block any illegal trade or mal-practice. And, with the help of decentralized network, every buyer gets equal rights and freedom. This, in turn, completely eliminates insider trading. 

Reduces the cost of transactions 

With the help of smart contracts provided by blockchain, all stock transactions and operations will have the ability to take place instantly without any delay or waiting time. Smart contracts are electronic form of contracts that provide data accessibility to all parties involved. Moreover, smart contracts store information in real-time and track that information in real-time too. With the help of smart contracts, one can place stock orders instantly after applying the effects of profits and losses of stock trading. This all can happen immediately without any delay. Since all operations get automated, this reduces the need for intermediaries and this saves a lot of cost in hiring a stock advisory or a stock broker. 

Liquidating has never been so easier 

When it comes to liquidation, blockchain is the best; and, this comes in handy for stock trading. Traditionally, to sell a stock, sellers and stock brokers had to manually find buyers. And, this involved a lot of time in transaction, cost in every single operation that takes place to manually sell a stock. With blockchain, one can automate all operations. And, it also connects everyone within the stock market under one single network system. 

Thus, anyone from anywhere in the world can connect with each and make stock trades with each other. The limitation of border eliminates with blockchain in stock trading. Hence, sellers and buyers have better possibilities to explore. Sellers can meet buyers of their requirement and vice versa. Blockchain also eliminates the risk of hard cash liquidation as money is transferred through and stored in high encrypted channels respectively. 

Provides faster approach of transaction and operation 

Since all data is automatically stored and updated in real-time, the time taken to make decisions on selling and buying stock have also been influenced for the better. Sellers are able to reach more buyers and are able to receive payments quickly in the form of blockchain-based tokens. Buyers are able to connect with more sellers and are able to buy appropriate stocks and make payments without any delay or requirement of a third-party authentication. 

This speeds up all operations and reduces the time taken to complete a transaction. In the process, it also provides the opportunity to sell more, generate more revenue for the stock sellers and more profit for the stock holders. 

Conclusion: Future ahead for stock trading with blockchain 

As mentioned above, there are opportunities that stock trading will benefit from blockchain. But, there are challenges too since blockchain is new. Still, the technology is exploring its limitations in terms of rules and regulations. Yet, with successful integration, blockchain will be a boon for investors, stock buyers, stock traders and all stakeholders. So, say goodbye to security concerns and threats, as blockchain provides unique identification key that stores data with high encryption.  Without these unique identification key, no one can access or decrypt the stored data. So, what are you waiting for? Today, is the best day to invest in trade stocks, invest in stocks. Good Luck. 

Quick Read: Blockchain and Healthcare: Potential and Opportunities

How Can Blockchain Reinvent The Mortgage Industry?

Posted on by Shipra

Blockchain development technology is emerging as an important part of every major industry. Be it oil and gas, education, healthcare, finance, mortgage or other – blockchain is establishing itself prominently in every field.  Ever since its arrival blockchain has made a mark. It has grabbed a lot of attention from the people of different industry. Most of the blockchain development companies have shed limelight on its potential to bring the transformation in the industries. Blockchain has several salient features which make it a top priority of the people from different industries, including mortgage industry. 

Recap of Blockchain Development Technology

Blockchain development technology utilizes a distributed computer network platform that enables databases to store time-stamped transaction records and documents.  Each server in the network processes and verifies each data entry, then archives all transactions, along with the history trail, which is every transaction ever recorded to the network.

Blockchain development technology has introduced the new monetary exchange in the form of cryptocurrencies. Well as compared to the conventional payment method via credit cards, wire transfers, and other cryptocurrencies like Bitcoin provides quicker and less expensive ways to accept the payment by the customers. These transactions that are occurring provides more power to the retailers as compared to the consumers.

Current Scenario of Mortgage Industry

Mortgage

When blockchain technology came into the market, people use to link it with bitcoin and cryptocurrencies. Now, over the years its role has completely changed. Blockchain has brought a revolution in most of all industries.  In the past few years, a large number of companies are opting for the blockchain technology to bring innovation in their business and also for decentralization. 

The market size of global mortgage industry  soon will be approx. $31 trillion. It’s huge! In countries like, America, the mortgage is present in around 66% of the houses. Similarly, for countries such as China and the UK, it is even more than 70%. According to the PWC report, the cost of the mortgage is around the 2 and 5 percent of the price of the property which includes the fees of the broker, the fees of the loan origination, underwriting fees, surveyor fees, legal fees, and title fees.

Hence, for example, if the cost of a house is $250000 for the mortgage it will cost between $5000- $12500.

Blockchain As A Savior in Mortgage Industry

There are middlemen involved in case of mortgage transactions. Hence, the cost for the mortgage increases as they too put their own charges thereby increasing the overall cost of the procedure. Thus, it is being predicted that blockchain will open many doors for the industry. And, with the help of blockchain, the annual saving will be more than $1.7 billion for the industry. The mortgage procedure is quite complex and blockchain has the key to solve it all. 

Blockchain Mortgage

There are several advantages of using Blockchain in mortgage industry, as mentioned below:

No processing fees

Whenever we go for a digital payment, it charges some processing fee. This occurs due to the presence of an intermediary that is present for the regulation of the payment and takes the charge. Well, this can be avoided in the case of cryptocurrencies as there is no intermediary. It is decentralized so there is no charge for the transactions. Thus, it helps in saving unnecessary expenditures and transaction fees.                                  

High-speed transaction

The payment speed is quite fast for cryptocurrencies. As for the Bitcoin, it takes 10 minutes maximum for the completion of the payment. There are also other cryptocurrencies like Ethereum and Litecoin which verify the transaction in just 20 seconds. Thus, the currency will take no longer than 20 seconds to get deposited into the accounts. These transactions are much faster than credit cards which takes 2-3 days to clear. This will ultimately increase up or boost up the process of a mortgage application.

No intermediates involved

With the use of blockchain, there is no third-party involvement. Hence, blockchain acts as a trust keeper here. Also, adoption of blockchain leads to reduction in overhead costs. A lot of start-ups have also come up which are using the blockchain  to streamline the mortgage application process.

  • Moneycatcha is one of those start-ups which uses the blockchain so as to make the applications regarding the loan cheaper and faster as well. 
  • HomeGain is an end-to-end blockchain solution that retrieves and verifies the given data quite fast and also with security from third-party data providers that includes the government agencies and the land offices.
  • Another blockchain-based platform in mortgage industry, Regchain, monitors real-time loan applications.

Parting thoughts: Blockchain and Mortgage to walk hand-in-hand

Thus, the blockchain has shown a lot of potential for the mortgage industry. It offers numerous benefits. Definitely, in the near future, it will be much more widely accepted in the industry. Blockchain comes with several perks which can change the entire landscape of the mortgage industry.

 

Can Blockchain Make A Wave in Music, Media And Entertainment?

Posted on by Shipra

Music, media and entertainment industry involves various transactions and operations. It includes publishing of content, transferring ownership and rights, paying royalties, etc. Without a proper data management system, it takes huge time to process operations. Also, the chances of mistakes to occur is high too. Entertainment blockchain development services such as hyperledgers, smart contracts and cryptocurrencies help to eliminate or reduce human error. Also, blockchain in music, media and entertainment enhances digital protection of content and assets. 

Hiring a blockchain development agency for entertainment will help artists to act as entrepreneurs. It also supports publishers and studios to work together simultaneously via smart contracts. Blockchain has the necessary potential capabilities to disrupt the music, media and entertainment industry today like how internet disrupted every industry decades’ back. 

Waves of Blockchain in Music, Media and Entertainment Industry

Blockchain music media entertainment

Traditionally, storing creative content and unique music and media assets with encryption or Intellectual Property Rights (IPR) was hard. This is because of multiple middlemen interference and paperwork documentation. This cause delay in all operations.

Blockchain in music, media and entertainment provides decentralized Distributed Ledger Technology (DLT). DLT disrupts traditional banking services by allowing direct transaction between peers, which also impacts music, media and entertainment industry. 

Allows micropayments as a payment option 

Fans might not be willing to pay a complete subscription package as they might not be interested in every single music, video and art content provided by an application or digital streaming website or TV operator, etc. In such cases, pay per use sounds feasible and paying for usage in micropayments is more convenient. 

Blockchain development technology allows payment of smaller fee with the help of cryptocurrencies and the same cryptocurrency can also be used to track copyrights of a content after payment has been made. The benefit here is that micropayments are automated and this allow fans to use entertainment services cost-effectively. 

Eliminates the need for content aggregation and aggregators 

Traditionally, due to centralization, every music artist, media artists and third-party service providers such as publishers, labelers, studio managers, etc. found it harder to reach one another. Before the artist’s work reach fans, it had to go through a long of chain of multiple people for various verification and authorization. 

Blockchain surpasses this traditional type of system and allows artists to directly connect with their fans and subscribers to sell or distribute their work and content easily and quickly. 

Enhances the distribution of royalties

As mentioned above due to multiple intervention, the confusion of who paid what? Who has to receive payment? Who has to receive how much? etc. All such details were traditionally stored in paperwork and it made the work of a publisher much harder in paying royalties to the appropriate personnel. 

With smart contracts operating using blockchain, publishers can now easily record who has paid what and how much share does each party get. Publishers can now easily distribute royalties with accuracy, opacity and at the right-time to all stakeholders. 

Eliminates illegal P2P digital sharing of music and media content or files 

Since blockchain allows artists to directly connect with each other and consumers to connect with each other, the chances of content getting leaked digitally is pretty much low. Each user will have an encryption of their own and the content by itself will have its own encryption. Without appropriate decryption key, nobody can access the file and no one can transfer the file too 

Appropriate key holders authorize file sharing and this protects all songs and media content against digital piracy. 

Helps funding of media and entertainment startups 

Blockchain provides Initial Coin Offerings (ICOs) which have become popular today just like blockchain. ICOs are worldwide as a means of crowdfunding and entertainment industry artists can use this as a source to receive funds from their fan base directly. This replaces the traditional system of acquiring funds from venture capitalists or any other regulatory source. 

Also, with ICOs getting funds worldwide is easier as there is border or regulatory restriction or limitation. ICOs also help to eliminate scams such as fraudulent investment by verifying all source of origin. 

Re-invents existing business model with more innovation and efficiency 

Just like how Netflix disrupted the industry of DVD, like that blockchain is disrupting the entertainment industry now. Blockchain can provide boost to startups and businesses in music, media and entertainment industry. It can help the decision makers to innovate operations in such a way that the business model allows operations to get completed faster and without wasting valuable resources. 

For example, blockchain allows re-inventing of a business model for a digital streaming company. Using blockchain, they can allow users to stream their own content or pay to access a music artist’s content through cryptocurrency and track copyrights at the same time. 

Tokenizes payment processes to generate better Return on Investment (ROI) 

Blockchain support the media, music and entertainment industry with building appropriate reward programs. Blockchain makes it possible to issue tokens through ICOs. This platform also helps in sharing of content, re-distribution of files and transferring ownership between peers. Token based exchanges is cost-effective too. 

Mitigates digital piracy issues with real-time tracking of assets and content 

Blockchain integrated with Artificial Intelligence (AI) helps to achieve cryptographic consensus in order to transfer files and validate transactions in real-time. However, developing such a system involves a lot of cost investment. Even, it may be complex. But, if achieved, it helps to validate every request for access from a user against their credential and authorization. This process is enhanced even more with proof of authentication that is possible through smart contracts. 

Signing off:

music media entertainment

Blockchain is still in its baby stages but has real-time opportunistic and disrupting applications. Since it is a new technology, it has too many unforeseen challenges and issues equivalent to opportunities it may bring. However, entertainment enterprises that are willing to reap technological benefits are moving ahead their business with blockchain. Blockchain is not a roadblock, it’s a road roller that lays down the path ahead for music, media and entertainment industry with enhanced digital services. Especially, given the fact that the world is moving towards a digital market. 

Let us know what do you think are the other waves that will be caused by blockchain in music, media and entertainment industry. 

Cryptocurrency wallet trends 2019

Posted on by Shipra

A cryptocurrency wallet is like a digital wallet that allow users to store, receive and send currencies between peers and between enterprises seamlessly and instantly. Usually a digital wallet is compatible for Bitcoin as most of cryptocurrencies have their own official wallet. However, today, a cryptocurrency wallet is developed to accept multiple crypto coin currencies. Cryptocurrency wallets give users the managing control of their money with a decentralized system of operation. This has started creating opportunities for cryptocurrency wallet development companies to develop cryptocurrency wallets and introduce it to the market bringing us to the cryptocurrency wallet trends 2019. 

Types of Cryptocurrency Wallets To Look Out For In 2019 

You should first know the types of cryptocurrency wallets that will be available for usage from 2019 onwards before you get exposed to the future of cryptocurrency wallets and its 2019 trends. 

Among all the wallets mentioned below, custodial wallets, software wallets, hardware wallets, coin-specific wallets, network-specific wallets and paper wallets will have an increase in usage in 2019. This increase is due to the emergence of more users to make payments digitally and anonymously. 

Custodial wallet 

A cryptocurrency wallet that allows users to store and control their private encryption keys. Some of those private keys cannot be controlled directly and can be controlled by a third-party custodian. Thus, the name custodial wallet. 

Software wallet 

Software wallets are cryptocurrency wallets that can be accessed from any platform and any device. This wallet is completely software based, easy to understand and use. These are mobile wallets that can be accessed online. 

Hardware wallet 

Hardware wallets allow cryptocurrencies to be stored offline without the requirement of the cryptocurrency wallet to be connect to an internet. Usage of encrypted USB devices is a hardware wallet. This type of wallet can operate online to retrieve data or make transactions and be taken offline for security purposes. 

Desktop wallet 

This is the most commonly used cryptocurrency wallet. This wallet connects users directly to the coin’s client. These wallets or stored on a laptop or a desktop pc system. Similar to software wallets, they can be taken online as per need and similar to desktop, they can be taken offline as per need. 

Online wallet 

Cryptocurrency wallets that are web-based. There is no need to download a mobile application or any software. Users can use cryptocurrency wallets online with the help of virtual server. 

Coin-specific wallet 

Cryptocurrency wallets that are developed with customization and specifications compatible for specific coins accordingly are coin-specific wallets. For example, crypto coins specific for doughnut shop called as donut coins.

Network-specific wallet 

Crypto coins and tokens that can be accessed only according to the network is a network-specific wallet. It has the ability to hold and store multiple crypto coin and token types. In such type of wallets, crypto coins will pop-up only when users enter the appropriate network. 

Paper wallet 

A cryptocurrency wallet that operates with the help of QR code providing access to both public as well as private key is a paper wallet. For example, users scan the QR code at a coffee shop and use crypto coins customized by the shop called coffee coins for payment. 

Universal (or) Multi-coin wallet 

A cryptocurrency wallet that holds every single asset of a crypto coin and has the ability to store and hold multiple addresses of multiple crypto tokens and coins. However as of today, there is no universal wallet that can accept all kinds of crypto coins but it is under development and can be expected around the fall period of 2019. 

Cryptocurrency Wallet Trends To Make A Note of in 2019 

Cryptocurrency wallet trends

Traction of new privacy protocols 

Blockchain surveillance will now start to monitor transactions more increasingly than before. Thus, cryptocurrency wallets from 2019 onwards will have more than one privacy protocol to follow in order to restore lost funds of balance the imbalanced crypto wallet accounts.

Increase in building of decentralized credit networks 

The growth of projects such as GEO Protocol, Nexo and Dharma Protocol has led to the growth of crypto credit networks and debt markets. 2018 was year of ETH acceptance by crypto wallets and 2019 will be a year of more ERC20s, BTC and acceptance of any such non-crypto assets. Facilitation and generation of collateralized loans is expected to scale up. 

Replacement of (Initial Coin Offerings) ICOs with (Security Token Offerings) STOs 

According to Bitcoin News by Kai Sedgwick, ICOs performed at their highest peak in 2018, sold for more than USD 2389 Million but around the year end, the total capital raised by ICOs fell to USD 65 Million. This is due to the rise of STOs because STOs has more economical usage in the long-term. Users can expect STO’s worth more than USD 1 billion to be launched by the year 2019. 

Deployment of Non-Fungible Tokens (NFTs) 

Trading of digital assets has increased since the birth of blockchain and crypto coins. This has led to increase in development of decentralized virtual projects. Thus, a new token called known as NFTs can be expected to be launched. This token will facilitate instant, quicker, authenticated and more secure trading of digital assets. Hence, digital gaming industry will accept more crypto coins as one of the payment options from 2019. 

Crypto wallets may become authentication hubs for identity management 

Cryptocurrency wallets are extending and expanding itself more and more for purposes beyond selling and buying. Crypto wallets are best-known for the identity authentication protocols they follow. Thus, PikcioChain crypto wallet believes that from 2019, every crypto wallet might be used as a hub for managing and securing various identities and not just for financial transactions. 

Parting thoughts on cryptocurrency wallet trends

The world of mobile wallets is expected to be dominated by cryptocurrency wallets in 2019. According to Bitcoin news written by Kai Sedgwick, in 2017 USD 1648 Million was raised through crypto wallets and in 2018, more than USD 2578 Million was raised. This is expected and predicted to increase further in 2019. Also, according to a study conducted by Juniper Research, more than 2.1 billion users will be interested to use mobile wallet for financial transactions. This may as well be the right time to build your own crypto coin and cryptocurrency wallets as well as to start using available cryptocurrency wallets for financial transactions. 

 

Promises & Perils of Blockchain Technology In Digital Identity Management

Posted on by Shipra

One of the major challenges faced by many industries is identity theft. Especially, service industries like healthcare and transportation industry face the problem of identify thefts and identity threats. For example, in healthcare industry, a fake doctor can use a fake identity to treat patients. And, s/he may even experiment illegal drugs on the patient. Furthermore, identifying the identity of a doctor traditionally takes a lot of time. Also, it goes through a lot of legal process. However, this issue can be eliminated with blockchain. Blockchain identity management solutions include high encryption of data that also provides authenticate evidence of the stored data. 

With the help of authenticate evidence provided, a user can verify the credibility and proof of identify of the service provider. Top of it, every digital ID using blockchain has a unique key. And, this key is the only way to use and access data. This reduces identity hack and identity threats because, without this unique all data is highly encrypted. 

Why Blockchain Is Needed In Identity Management? 

Blockchain in digital identity management

Traditionally in any industry, all data and information are stored in a centralized server or centralized system. This centralized server gives accessibility and permissions only to the necessary personnel. These personnel mostly comprise only of the higher management and administrative people in the industry. This single location of data and information storage leads to many vulnerable security hacks and security threats if the centralized server does not have appropriate security protocols. 

Blockchain eliminates this problem. Blockchain is a decentralized platform. And, there is no single authority or central authority monitoring over the stored data. Thus, all parties involved in an operation has access to the stored data with enhanced transparency. This privacy and security features of blockchain demonstrate potential promises that it can keep up with in digital identity management.

Promises of Blockchain in Digital Identity Management 

These promises include storing identity in secured database and displaying identity with proof only to people with unique identification key, etc.

Using the node system 

There are two kinds of nodes that blockchain offers, full node and master node. So, first what is this node? In blockchain, a node is considered to be a computer system that operates using blockchain platform. This computer system can send and receive notifications. 

How can this node help in digital identity management? 

With blockchain nodes, a user can identify the identity of another user democratically without any complicated process and with a enhanced hassle-free authentication service. The person having access to the node can manually provide permission for access to identity and data for verification. 

Using Full node 

Full node is a computer system that provides, maintains and manages a complete copy of the data and information stored in blockchain. Also, it automatically updates the blockchain system with new entries and confirmations in real-time. 

Using Master node 

Master node is a computer system that provides users with the ability to govern and make efficient budgetary plans. This system provides a complete copy of the data and information stored in the blockchain system along with additional data such transactions that are pending, history and records of transactions, etc. Hence, this proves to be an efficient method of validating identities and all operations that take place.

Blockchain And its Promise To Digital Identity Management By IBM 

IBM Digital identity management

Using blockchain and its decentralized potential, IBM have been empowering and enhancing their identity management protocols in all their operations. IBM has become a part of the Decentralized Identity Foundation (DIF). Being a part of this foundation, IBM has been helping the global collaboration in maintaining identities over a secured channel with encryption keys. Also, they have been trying to deal with missing identities when they come across circumstances of fake identity or missing identity. 

IBM has been helping their clients and their own businesses by providing identity solutions with the help of blockchain. With the help of blockchain and being a part of the World Wide Web Consortium (W3C), IBM has been securing their data and important credentials. 

Perils of Blockchain in Digital Identity Management 

Yes, as promising as blockchain might seem in digital identity management, blockchain also has some drawbacks. These drawbacks necessarily do not pin point at challenges faced by blockchain in digital identity management. But, rather there are some general drawbacks of blockchain that might affect digital identity management. 

Environmental cost of blockchain 

Blockchain is a decentralized platform. And, it highly relies on encryption methods to store and save data regarding identity management and identity security protocols. Further, these encryptions require developing complex algorithms and installing lots of environmental variables. This means, development of the environmental infrastructure to efficiently use blockchain in digital identity management involves additional costs. 

Blockchain is new and is still exploring its regulatory standards 

Different industries have different requirements. And, blockchain has to come up with rules and regulatory standards that all industries follow as a whole. If that’s not the case, blockchain development technology needs to come up with specific rules and regulations for each industry. However, it complicates operations and increases the cost of deploying blockchain even more. Also, it may take more time for the regulations of blockchain to become standardized. Hence, deployment of blockchain might sounds a little risk in terms of cost and regulations. 

Parting thoughts :

There are interesting projects have already starting using blockchain for digital identity management. Some of these projects are CIVIC, uPort, etc. Civic uses digital ID to tag every user and provide necessary authentication. Whereas, uPort focuses more on identity management through blockchain smart contracts for mobile device applications. Smart contracts are electronic form of maintain contracts digitally. With blockchain, the issues faced in standardizing identity verification protocols have become easier without any demographic limitations too.

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