We won’t rush into digital currency, we remain the world reserve currency – US Fed. Chair, Mr. Powell.

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US Federal Reserve.

The United States of America head of Federal reserve Mr. Powell Jerome has stated that the United States have no need to rush into cryptocurrency as they remain the world’s reserve currency.

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In his words, “Since we are the world’s reserve currency, we actually think we need to get this right, and we don’t feel an urge or need to be first,” he said. “We effectively already have a first-mover advantage, because we’re the reserve currency.”

He also warned of a potential regulatory global answers to the decentralized coins.

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We’ve been very focused on potential regulatory answers for global stablecoins, in particular, So that’s been a high-level focus, and that will continue to be a high-level focus because they could become systemically important overnight and we don’t begin to have, you know, our arms around the potential risks and how to manage those risks, and the public will expect we do and has every right to expect that. It’s a very high priority.”

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What you should know.

The federal reserve system is the central banking system of the United States of America. With three key objectives for monetary policy.

1. Maximizing employment.

2. Stabilizing prices.

3. Moderating long-term interest rates.

The first two objectives are sometimes referred to as the Federal Reserve’s dual mandate. Its duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the stability of the financial system, and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

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What you must know.

Currently there have been a lot of interest regarding the growing popularity of the world most valuable cryptocurrency Bitcoin by some western powers. Many are calling for reforms, while others are calling for outright regulation. Meanwhile the value of the cryptocurrency resides on its decentralized nature meaning that nobody owns it and all transactions are open for anyone interested to see.

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Basics of health digitalization: what you should know.

Digital Healthcare.

Digitalization simply means the use of digital technologies to improve a business model and provide new perspective. It has everything to do with trying to up the revenue and improve sales while stepping up excellence and efficiency in doing business. It is just a process of moving and improving an already digitized ventures and achieving the ultimate desired outcome in a digitalized way.

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Why Digitalizing is important.

You must have been hearing digitalization as the next big deal but maybe wondering why it is so important to embrace. Here are the few hints as to why you should not waste any more time in digitizing your ventures.

  1. Digitization is the easiest gateway to innovation. With it innovation is much better and faster and just a matter of improving the software and other system upgrade.
  2. It makes intra and inter communication within and among the team members easier and efficient.
  3. It gives your organization a superior end over your competition by making you to do things better, faster, and cheaper.
  4. At all times it sure guarantee a better decision-making due to enormous availability of data.
  5. It guarantees growth and huge return on investment.
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Digitization and digitalization, clearing the ambiguity.

One of the great ambiguity that exists is the confusion and sometimes misrepresentations of these words. Digitization simply means a conversion of data mostly raw data into a digital format eg. You may use typesetting to bring your raw data to a softcopy. But in contrast to that, digitalization is simply a transformation of the digitized data into a more format for better decision making processes. It is much more than just making existing data into a digital format. Moreso, it involves ability of digital technology to collect data, establish trends and make better predictions.

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What you should Know.

There are various E-Health advantages. A professional can store all the information quickly, access it whenever he wants and share it with the patient or other health professionals. The data will allow him/her to make very accurate reports, contrast the patient’s progress and make clinical decisions more easily.

In the healthcare ecosystem, the digital technologies that is in demand and trending includes some of the following;

  1. The use of web and cloud based tools.
  2. Data analytics.
  3. Big data.
  4. Electronic health  records.
  5. Telehealth.
  6. Monitoring equipment including wearable devices.
  7. Electronic communications (e-communications).
Some digital Health equipment available at Iykemanstores.

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There are also other aspects which is mostly advanced in a digitalized health system such as the areas of Artificial intelligence (AI), Blockchain technologies, the increasingly use of smart contracts, voice search, chatbots etc.

This is actually the best time to embrace digitalization of healthcare system and any establishment that fails to follow this bullish trend may find itself lagging behind in the nearest future.

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Arbitrage skills in Forex and Cryptocurrency Trading; how to become a very successful Arbitrageur.

A typical Arbitrage process.

Arbitrage simply is the mechanism involving the purchase and sale of an asset or a currency in order to make some profit from the obvious price difference in the asset’s between two or more markets. It is just on the most basic a kind of trade that profits by exploiting the price differences of identical or similar financial instruments in different markets. For instance, a trader may just decide to concurrently purchase and sale a similar products in different markets in order to take advantage of price differentials and rack in profit that enterprise or action is simply and arbitrage.

An Arbitrageur is simply someone involved in the business of arbitrage.

Risk Free arbitration.

An arbitration is termed risk free anytime an an asset or a cryptocurrency is bought and sold immediately for a higher price. It is actually this short time frame that makes it riskless because it is without any additional form of investment; there is no rate of return or anything like it because the asset is immediately sold. So it is typically risk free in nature.

How to become a successful Arbitrageur; use this strategy.  

One of the major arbitrage strategy employed by plenty market players is simply taking advantage of price differences in different markets for the same asset. For you to be successful in this, you must correctly identify and predict the moment such huge discrepancy occurs. The faster the execution the better. And another strategy is ensuring that there exist a situation of at least two equivalent assets with differing prices. This assets must be so equivalent in all ramifications to warrant effectiveness of this strategy. So any short existence of price difference, you will have to execute the market as fast as possible.

What you should know.

It has been observed that every markets are never 100% efficient all the time partly due to the prevalence of not so accurate information between the buyers and sellers within the same market. Some buyers tends to under quote while some sellers tends to undersell maybe due to some economic hardship or urgent need that just arise. A “negative spread” occurs when a seller’s asking price for an asset is lower than a buyer’s bid price and this singularly constitutes the main reasons for the availability of arbitrage opportunities. So the buyer would simply swoop in and grab the opportunity.

Another scenerio is when a low-interest rates exists in cryptocurrency or forex market and then buying the currency of a country that pays high-interest rates. A smart Arbitrageur just simply would take advantage in the net difference of the two interest rates and smash a huge trading profit. This is what is popularly called a “Carry Trade.”

Various types of arbitration.

  1. Risk arbitrage: This involves buying the stocks of companies involved in a merger or acquisition and selling it almost at the point of merger or just after to recoup huge gain.
  2. Retail arbitrage: This involves buying and selling of physical products like mostly online or offline by taking advantage of the price differences.
  3. Statistical arbitrage: This is a form of arbitration that simply works through the use of complex mathematical formulas that trade the markets programmatically to take advantage of even small price discrepancies. Here accuracy is key and profit is often very huge.

What you must know.

Traders often use software programs to project and predict some deep arbitrage trading opportunities. These software has the ability of giving and predicting and turning up a real time result and data. There are three of this kinds of software programs commonly used for arbitrage trading and they are;

  • Automatic software programs.
  • Alert trading programs.
  • Remote alert programs.

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Forex Trading 1.0; what you should Know.

Forex

Forex trading is simply the means through which one currency is changed or exchanged into another. When trading forex, you are always trading a pair, often called a currency pair. That is, selling one currency  while simultaneously buying another in that order.

In a big deaper insight, foreign exchange market often denoted with FX is a global decentralised or what can be termed as just a market for the trading of all kinds of currency pairs. This is the singular most important determinants of all foreign exchange rates for almost all known currencies.

What it means.

It means that in this market all forms of buying, selling and exchanging currencies at current or determined prices only happens here. It has been estimated to be the largest market In terms of trading in the entire world wide, it is by far the largest market in the world for any form of buying and selling every day.

What you should know.

The foreign exchange market is the most liquid  financial market in the world according to experts. In this arena, traders cut across different strata such as governments and central banks, commercial banks, other institutional investors, commercial corporations, individuals and whatnot.

Here, brokers/dealers negotiate directly with one another, so there is no central exchange or a known clearing house that exists for such and so it is reference as being decentralised. For multiple years now, owing to London’s dominance in the market, a particular currency’s quoted price is usually the London market price. In addition; London, United States, Singapore, Hong Kong, and Japan account for the majority of the trading volumes.

What you must know.

Basically, there are two main types of retail FX intermediaries for most trading.

  1. Brokers 
  2. Dealers.

Brokers are often those that serve as an agent of the customer in the mainstream FX market. They represent the customer and help him/her in seeking the best price in the market for a retail order. The carry out almost all dealing on behalf of the customer. However in exchange for such services, they may charge a commission or what is commonly referred to as “mark-up” for such services rendered. Makeup is simply a little increase in the market prices inputted by the broker. 

Dealers: These are often referred to as the market makers, and by disparity they typically act as principals in the transaction with the retail customer, and they always quote a price they are willing to deal at. Many times, they’re the commonly carried black market guys. They can over quote or under quote the market prices to suit their aims and agenda. So the customer have to agree or seek another favourable deal.

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Breaking: Confusion as US Republican Senators vow to stop inauguration of President elect Mr. Joe Biden.

US SENATE.

There is currently a great move by some select United States of America republican senators with other about 140 house of Representatives members to stop the inauguration of Mr. Joe Biden as the undisputed winner of the November 3rd US election.

A very sophisticated and top ranking American senator Mr. Ted Cruz is currently one of the arrow heads amongst other 12 GOP senators who say they are preparing to challenge the results of the election in a joint session of the house Congress next week bringing another twist and confusion as to the confirmation and possibly inauguration of Mr. Biden as POTUS.

What they are saying?

They are saying they will not certify the election results unless there is a 10-day “emergency audit” of the results. Separately, Josh Hawley of Missouri plans his own challenge which also includes total audit to certify the true nature of the November election and the possibility of fraud.

What you should Know.

There have been multiple claims and lawsuits by both the ruling Republicans and opposition democrats immediately after the election, however, plenty of those have been rejected by judges across the country who notwithstanding acknowledged that a fraud may have occurred but not in a large scale to upturn or influence the main outcome of the election. Some strong and populated States like Texas have also filed a lawsuits which was not heard as the sitting Judge dismissed it as lacking in merit. As it stands, majority of the election results have been ratified by most states.

The office of the Vice President of America Mr. Pence have also released a statement backing the several calls by the senators for an emergency audit.

It reads, “Vice president Pence shares the concerns of millions of Americans about voter fraud and irregularities in the last election, the vice president welcomes the efforts of members of the House and Senate to use the authority they have under the law to raise objections and bring forward evidence before the Congress and the American people on 6 January.”

Other US Senators who joined Mr Cruz are Sen. Ron Johnson, James Lankford, Steve Daines, John Kennedy,  Marsha Blackburn, Mike Braun, etc.

Mr President Donald J. Trump as expected has lend his voice in a brief tweet: “Our country will love them for it! #StopTheSteal”.

What it Means.

Members of the House of Representatives and the US Senate will meet in joint session on 6 January in the House Chamber. The vice President Mr Pence will preside in his role as president of the Senate and leaders of both parties will appoint lawmakers from both chambers to act as “tellers”.

Mr Pence is expected to open certificates of the electoral vote state after state while the “tellers” who are representatives collects them. In cases of discrepancy and objections, it must be handwritten and also a member of the house of Representatives or Senate is expected to endorse it. Thereafter it would be debated for a maximum of 2hrs and voted. In cases of no objections or endorsement, the vote would be counted.

What you must know.

The congressional power to reject electors is reserved for the most extreme and unusual circumstances. In this case if the senators achieved this, it means that the various Electoral collegiate would be reviewed and a possible expanded investigation conducted to stamp out the bad influence within. Then Mr. Joe Biden may not be sworn in as President.

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Big Data and Big Data Technology; what you must know.

Big Data.

Big data is simply data or combinations that can be holistically analysed in computationally manners to reveal patterns, trends, and associations. It is often used to describe a collection of data that is huge or big in size with enormous potential to exponentially grow with time. In most instances it is used or employed while trying to relate to some innate human behaviour and interactions in the course of a set activity.

Big Data analytics are used in plenty fora such as in stock exchanges, social media sites, etc. It helps the organizations to create new growth opportunities and to leverage on it to prophesy the upcoming trends and how to adjust accordingly.

It offers these companies good information about their products and services, and gives them insight about buyers, suppliers, and consumer preferences that can be gathered and help the company to meet those needs.

Big Data Technology.

Big data tool includes those tech software used to extract information from a large number of data generators with the capacity to also process these complex data and bring about deep insight on the product and services. On a normal scenario, a large amount of data is very difficult to process in traditional databases. It brings the need for an advanced tool to be used and manage those data more easily. Then comes the technology. It is the emerging Big data technology that has greatly simplified these processes making it less hassle while delivering massive accurate results in just in time bases.

What you should know.

Coding or such related skills are extremely  essential in the Big Data mastering. This makes the analytical job much easier to carry out. In fact it’s becoming almost impossible to become a Big Data analytics expert without having different kind of coding skills in the kit. You need to code to conduct numerical and statistical analysis with enormous data sets. Few of the coding languages you should learn and invest time and money in mastering are Python, Java, and C++ etc.

In the big data ecosystem it is generally said that, the bigger the dataset, the better the results. This is because these quantum amount of data when analysed and it gives a repeated pattern, it shows that the probability of such repeatation occurring multiple times in future is high. Hence a good company would pay attention to it and watch out.

For example, in an ecommerce store, the website collects plenty information from the traffic inflows ranging from the referring sites, time the visitors spent on site, bounce rate, landing page, visitor flow, videos watched, clicks and even the demographics of the visitors etc. They track this information on a person-by-person basis; consequently, over a span of a few years when this data becomes so enourmouse they can then build a massive dataset that cannot be handled by traditional methods. At this point, it’s generally seen in the light of Big data and a specialised skills set and software (Big Data Technology) is then used to store and analyse such data to generate insight for business services of the company.

What you must know.

Companies collect data about their customers in so many ways such as;

1) Asking them directly for it.

2) indirectly tracking them.

3) By acquiring it from other companies.

Most company will be asking customers directly for data  verbally or via some online surveys and questionnaire. This often happens as the company is about setting out so the task is still very little to handle. However, as the demand and the relationship between both the company and customers mature, the other avenues are often explored indirectly to getting such behavioural data for processing. But in recent times, there is now an emerging Big data companies specialising in such massive data gatherings and analytics so the company can devote more time into other ventures while paying or acquiring these data from the analytics companies and experts. These Big Data companies use the Big Data Technology to get this task done.

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75 Billion MSME Fund, beware of fraudsters; Nigerian federal Government Warns prospective applicants.

MSME federal Scheme.

The Nigerian federal Government has warned all prospective applicants for the government micro small and medium enterprise (MSME) fund to be very weary of fraudsters demanding for account details.

The Ministry earlier published a statement and it reads, “Our attention has been drawn to the activities of fraudsters parading themselves as operators of the Federal Government’s Survival Fund Scheme.

“The syndicate operating a fraudulent portal with the link “https://survivalfund-govng.freefunds.xyz/#1609249530133(https://bit.ly/FG-survival-fund)” are asking unsuspecting members of the public to check their eligibility for the scheme by providing their account details on the portal in order to be paid N50, 000 grant under the Survival Fund Scheme.

“It is pertinent to note that the Project Delivery Office (the coordinating office of the scheme) does not operate any such portal and beneficiaries do not require to go to the website to verify their eligibility for the federal government’s Survival Fund as indicated on the fraudulent portal.

“The website requesting beneficiaries account details is, therefore, a scam. The PDO does not operate any such portal and wishes to advise all Nigerians and beneficiaries of the different tracks of the survival fund to be wary and desist from having dealings with the operators of the site.” the statement concluded.

What you must know.

The survival fund and other various Nigerian federal Government programmes are part of the Economic Sustainability Plan, which aims to support and protect these businesses from the potential vulnerabilities brought about by the COVID-19 pandemic.

Bombshell: Nigerian Business and Financial magnet Aliko Dangote accused of dating scandal.

Aliko Dangote and the alleged Ex. Lover.

Aliko Dangote a Nigerian businessman and money magnet is now in what looks like a “New year best wishes scandal” orchestrated by yet to be fully identified lady using her instagram (@Iambealewis) page to reveal this top secret to the entire world.

The American hotelier and restauranpreneur Ms. Lewis had claimed Mr. Aliko Dangote shattered her heart 1000 times. 

She recounted how the billionaire broke her heart in 1000 pieces long after their romantic escapade had been forgotten by the billionaire.

She shared several pictures of herself, which also had a photo that showed her leaning towards the billionaire and caressing him on his left chin with a love drunk dizzy eyes onto the camera.

She also added that dating Africa’s richest man earned her a consistent fitness regimen and some level of financial literacy.

Here is her love story, “I dated the richest black man in the world. He broke my heart in 1000 pieces. I learned more from him than any person I’ve ever met. Communicating with a billionaire daily makes you see the world differently,” she wrote.

“I became more organized and finally am able to step away from the daily kitchen operations. I learned love without strings. Give your best without expectations. Nothing is forever.

“I realized a half a million-dollar restaurant project was a bad investment. I purchased two properties. I started a consistent fitness regime. Became vegan. Obtained a profitable stock portfolio.

“He changed my perspective on work ethic and patience. Once my mindset changed the universe gravitated me to people that uplifted me and increased my net worth mentally and financially. To 2021 and powerful encounters.”

Here is the screen shot as obtained by Iykeman.com for your reading pleasures.

Neither Mr. Aliko Dangote nor his associates are yet to respond to this allegations currently trending on various social media channels.

What you should know.

Aliko Dangote (GCON) was born 10 April 1957. He is a Nigerian business magnate and philanthropist and the leader of Dangote group of companies. He is the wealthiest person in Africa and the richest Black person with an estimated net worth of US $10.7 billion as of December 2020.

Blockchain Smart Contracts; what you must know.

Smart Contracts.

Blockchain technology is the focal point for the development of bitcoin and most other cryptocurrency. It is a decentralized, distributed ledger that records a digital asset. Recently blockchain has been found to do much more. It has been found with enormous ability to execute smart contracts.

What it means.

A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement.

What it simply means is that it makes use of blockchain technology to verify, validate, capture and enforce agreed-upon terms between two parties or multiple parties. The blockchain is used and in fact it is the most important structure for building smart contracts because all the data stored in it is immutable and secured. In a nutshell it offers the highest form of security and every contract done is irreversible.

Brief history.

Smart contracts have actually come a long way. Available data shows it was first proposed in the early 1990s by a scientist Nick Szabo, who coined the term, using it to refer to “a set of promises, specified in digital form, including protocols within which the parties perform on these promises”.

For example, an asset or currency is transferred into a program and the program runs this code and at some point it automatically validates a condition and determines whether the asset should go to one person or back to the other person, or whether it should be immediately refunded to the person who sent it or some stuffs like that.

What you should know.

According to Jeff Garzik’s an astonishing blockchain expert, Smart contracts work on the “If-Then” premise. So, to put in a more basic form. He narrated a scenario, example; “UPS can execute contracts that say, ‘If I receive cash on delivery at this location in a developing, emerging market, then this product, will trigger a supplier creating a new item since the existing item was just delivered in that developing market.’” He concluded. So what contracts tries to automate the system and make it easier and irreversible. And due to its use and run within the blockchain, it offers a very high level of transparency and anyone could easily verify if the contract was executed or not.

What you must know.

All too often, many legal matters and projects are hampered by plenty paper works which gives rise to many mistakes and errors. However, the in-road making of smart contracts will cut off the middleman issues and improve the ease of doing business.

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Bitcoin Scam in South Africa; MTI trading Platform CEO Mr. Steynberg on the run, blocked all communications.

Bitcoin.

Scam simply means to deceive and defraud someone. Just as a certain popular Ponzi Scheme back then in Nigeria called MMM crashed, calamity has befallen several investors in South African online Bitcoin trading Platform Mirrow Trading International (MTI).

The supposed CEO Mr. Johann Steynberg may have scammed all investors including the top management team. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with a local bank and now at large.

Earlier, an investigation by the Financial Sector Conduct Authority (FSCA), a South African based financial services regulator was carried out to make an inquisition on the activities of MTI.

The FSCA in its finding said it uncovered losses that were not previously reported as well as bitcoins that cannot be accounted for. The FSCA says the investigation also found evidence suggesting that MTI’s broker, Trade 300 is linked to Mr. Steynberg.

However in a bid to clearing their names, the top management staffs Mr. Steynberg left behind has chronicled events as they unfolded after the raid by FSCA.

They said, “Johann told us that when the FSCA took all the electronic devices, a security protocol was put in place with the broker to avoid all our member bitcoin being stolen, this included a limitation of withdrawals. This was communicated to all members on managements’ insistence.

However in a published email sent by one anonymous to Mr.Steynberg the emailer urged him to flee the country for the sake of his own life. Meanwhile the investigation is still ongoing to uncover the mystery and way about of the owner a bid to recover some of now inaccessible Bitcoin wallets.

What you must know.

Trust is very difficult to find in many organisations today. In the cryptocurrency world, it’s also one of the most essential things to look out for. The whole idea of cryptocurrency and its attractiveness is it being decentralised and non-custodial as not being controlled by anyone, but you. However, using systems where you give somebody your funds defeats this purpose. And if you must do this, very carefully do your due diligence and get all the facts before you commit your hard earned fund to someone else to manage for you to avoid similar scenario as this.

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