Wednesday October 18, 2017
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From paper to plastic to Bitcoins: Changing money with time

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By NewsGram Staff Writer

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With the internet revolution gaining ground in India at a fast pace, and many initiatives on the part of the government to digitize India and take everything online, the days when money (currency) will also be completely digitized don’t seem far.

Bitcoin is one such example. For those who aren’t aware what it is, it can simply be defined as “digital money.” The advantages of bitcoin extend from zero transaction charges and to mobile platforms offering easy buy and sell options, high security and anti-wallet theft options. Handling bitcoins is extremely hassle-free. With one click on your Smartphone, you can do transactions anytime, anywhere.

Bitcoin came into existence around 2009, and is believed to be created by Satoshi Nakamoto, which can be a person or a group of persons. It once gained value steadily, peaking at about $1,100 per bitcoin in November 2013, then its value slid and is approximately $227 per bitcoin now. Also, no government regulates bitcoins yet.

Bitcoins are earned by churning data on the computer, which is also called “mining.” This is done in order to verify transactions.

“I find it (bitcoin app) extremely useful because I can buy online discount coupons and gift vouchers in exchange for my bitcoins,” said Harin Pandya, who works with an event management company in Hyderabad. “I can redeem these from Amazon, Ola and a host of other e-commerce websites.”

Despite all the shiny positives, RBI governor Raghuram Rajan doesn’t seem so convinced about the positive aspects of bitcoin. The main reason being that bitcoins fall outside the purview of regulated financial environment.

Calling them “Crypto currencies”, RBI Deputy Governor, R Gandhi, emphasized that these can be involved in money laundering, tax evasion and terror funding.”

Despite the red flag given by RBI, bitcoin’s popularity continues to rise. Banks and other financial middle-men-organizations are completely out of the picture.

“I have family in New Zealand and I can send money immediately to them using my bitcoin wallet, which they can encash there, making the transaction hassle free,” says Himanshu Sisodia, chief operating officer at Greenleaves Management.

“Though it has depreciated significantly, the value of bitcoins are bound to climb up by next January, because virtual currency is the future and the world will only get more digitised from now on,” said Pandya, adding that he is expecting to get almost 100% return on his investment in bitcoins by this year-end.

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Despite the concerns raised regarding usage of bitcoins, experts believe that with the steady pace of digitization, money is bound to become online sooner or later, and that the world cannot escape bitcoins when such a thing happens to the completion. Since digitizing India means an enhanced push into the direction of cashless transactions, bitcoins will climb up.

Citing the example of Greece, experts have also pointed out that for volatile economies undergoing crisis, bitcoins offer a good alternative.

 

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Indians Always on Social Media While on Vacations, Reveals New Survey

Social media is emerging as strong driving force in creating vacation happiness with Indians being number one in always taking selfies

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The new survey reveals Indians top the list of tourists glued to their phones while on vacation.(Representative image) Wikimedia

New Delhi, October 15, 2017 : Indians top ahead of Thailand and Mexico when it comes to using social media while holidaying, says a survey conducted by Expedia.

Indians love to be connected all the time, however, it also means that they do not disconnect from work much.

Indians are globally most anxious on not being able to access WiFi or internet to check work e-mail (59 per cent). In fact they lead in showing a preference for an airline that offers in-flight WiFi (33 per cent). Hence, 14 per cent Indians are always working on a vacation, #1 globally, followed by the US (seven per cent) and Brazil (six per cent).

ALSO READ India tops the list of fatalities caused by selfies

Social media is emerging as strong driving force in creating vacation happiness with Indians being number one in always taking selfies (22 per cent), posting photos on social media (22 per cent), “checking in” on social media (21 per cent) and connecting with others through social media (19 per cent), said the Expedia survey.

The survey included 15,363 respondents, across 17 countries (US, Canada, Mexico, Brazil, UK, France, Germany, Italy, Spain, Netherlands, Belgium, Australia, New Zealand, Japan, South Korea, India and Thailand)

The survey also highlighted that even though Indians are social media obsessed beach-goers who spend the majority of their time uploading pictures and video, 24 per cent of their compatriots find it very annoying, said the statement. (IANS)

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‘Returnships’: An Initiative Offering a Path Forward for Moms Who Want to Return to Work

Women re-entering the workforce often struggle to explain the gap in their resume and find employment harder to come by

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Women who took break from work can now get back through returnships. Wikimedia
  • ‘Returnships’ are for individuals who have been out of the workforce
  • Women take break from work for childbearing or caregiving reasons
  • It is difficult for them to explain this break and find employment when returning to work

August 20, 2017: How does a former stay-at-home mom become an employee of a tech company that could be worth more than $1 billion?

For Ellein Cheng, mom to a 5½- and a 2½-year-old, the answer involved a “returnship.”

So-called returnships are internships that target men and women who have been out of the workforce, either for childrearing or other caregiving. It gives them a chance to retrain in a new field.

In Cheng’s case, the former math teacher and tutor took a returnship at AppNexus, an online advertising company.

Also Read: Google Buys Indian-Origin Professor Shwetak Patel’s Health Monitoring Start-up

For companies, returnships are an opportunity to tap into more mature and professionally diverse talent pools. For participants who may be out of the workforce, it’s a chance to refresh their networks, learn new skills and try on new roles.

Beneficial arrangement

For both parties, it’s a low-risk, low-commitment arrangement. Companies can achieve their goals to make the employee ranks more diverse. Job seekers can potentially find full-time work.

Cheng’s returnship was set up by Path Forward, a New York-based nonprofit that works with tech companies to coordinate 16-week, paid assignments for those who have been away from the labor market for two or more years because of caregiving.

The organization partners with tech companies that range in size from 30-person startups to behemoths such as PayPal, which has more than 10,000 employees.

“What these companies of every size in the tech sector have in common is rapid growth, and also not enough talent to fulfill their needs,” said Tami Forman, executive director at Path Forward.

Women re-entering the workforce often struggle to explain the gap in their resume and find employment harder to come by, Forman said.

“They often get feedback from companies and recruiters and hiring managers that makes them believe that they’ll never be hired, that no one will ever overlook their gap,” she said. The organization says it gets results — 40 out of the 50 women who have gone through the program were offered ongoing employment at the companies in which they interned.

Teaching background

In her job search, Cheng applied for teaching positions but was also open to other fields. The product support work struck a chord with her in its appeal for candidates “passionate about learning and teaching.”

The program gave both managers and participants the chance to see if a long-term opportunity would be the right fit for them.

It also provided a dose of inspiration.

Other employees were “inspired to see people stepping out of their comfort zone, taking a big risk, working on something they haven’t done before,” Lorraine Buhannic, senior director of talent acquisition at AppNexus, said.

For Cheng, the inspiration came from a more personal place — her daughters.

They are growing up “in a world that is changing so quickly with technology, and I just want to be part of that,” she said. “I want to grow with them, I want to learn with them.”

In the end, the match worked. After the returnship, AppNexus hired Cheng as a product support specialist.

Now working in the fast-paced world of online advertising, Cheng says she doesn’t feel she has left her old self behind.

“I’m still obviously learning a lot, because I’m switching careers completely, but at the same time, still bringing the teaching element part of it every day to work,” she said. (VOA)

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How Facebook is Helping Its Users Fight Identity Theft

Facebook has launched a new security feature for its Indian users, the Profile Picture Guard helps ensure safety from identity theft

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Facebook. Pixabay
  • Facebook intends to build a safer global community
  • Profile pictures are now safeguarded by Facebook
  • These measures are taken to reduce the rising number of identity theft cases

New Delhi, August 02, 2017: Facebook is building a global community by launching features that provide aid to the users across the world, creating products that are targetted for specific regions. In one particular news segment at Facebook’s newsroom, they updated that Facebook profile pictures will now be protected with security guards, they have updated this feature for Indian users specifically, due to the rising demand to protect Identity.

India has a remarkably high number of identity theft cases, and this update by Facebook is indeed a commendable job. As it reads in their news headline “Giving people more control over their Facebook profile pictures.” Facebook promotes tools that provide its users to access the social media with an overall secure experience, Facebook’s promotional tools, and targeting a larger audience with their various other tactics serves well to their business.

“Profile pictures are an important part of building community on Facebook because they help people find friends and create meaningful connections. But not everyone feels safe adding a profile picture. In our research with people and safety organizations in India, we’ve heard that some women choose not to share profile pictures that include their faces anywhere on the internet because they’re concerned about what may happen to their photos”, says Aarti Soman, Product Manager at Facebook India.

“These tools, developed in partnership with Indian safety organizations like Centre for Social Research, Learning Links Foundation, Breakthrough and Youth Ki Awaaz, are designed to give people more control over their experience and help keep them safe online”, she adds.

Even though Facebook provides safety features like – guards and watermarks for profile pictures, it doesn’t entirely protect us from the identity theft, it’s quite uncertain as to how they plan to protect other pictures uploaded on the social media?

Facebook launches safety features for protecting profile pictures Click To Tweet

Identity theft is a common practice in India and it is very easy to steal identity from any social media, by stealing a person’s basic identity like – Name, Pictures, Address or Date of Birth and use it for unfair practices. People can use this information and pose as the person they have stolen from and commit fraud or offenses.

But, is the practice only limited to India? It very understood that India has the highest concerns for identity theft and lack of safety but places like Australia and UK have observed a trend of identity theft as well, while they have stricter laws and a strong jurisdiction is followed and despite these laws, they have observed a marginally high rate of theft and unlawful practice in this case.

Facebook doesn’t guarantee a total protection from theft as it only provides 75% security, as the pictures could still be screenshotted from Andriod phones, while this is not possible in the case of IOS users. There is also no restriction for users who take a screenshot from their desktop or laptop browsers. While these security measures are not foolproof, they could well reduce identity theft and give Indian social media users some additional peace of mind. India is a test case and the feature will soon be available in other countries as well.

Social media companies could do more to build protections against identity theft and make users aware of the available tools. People should also use their discretion and not let their guard down in the social media hunting ground.

Prepared by Nivedita Motwani. Twitter @Mind_Makeup


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