May 2023 - CFI.co Blog

It doesn’t matter what your options are when it comes to crypto because it is hard to deny that it is quickly becoming part of our world. We are seeing this quite a lot in the Mastercard network. People from all walks of life are now using cards to buy assets and this is especially the case when you look at the surge in value from Bitcoin. We are also seeing people take advantage of cryptocurrency cards so that they can convert them into normal currencies to spend. To be clear, the current trend is unmistakable.

Source: Pexels (CC0 License)

The Future of Crypto

Right now, we are preparing for the future of payments and crypto. It has been announced that Mastercard is going to start supporting a couple of cryptocurrencies and that this is going to be done directly through the network. At the end of the day, this is a huge change and it is indeed going to require a lot of work. The fact that Mastercard is willing to do all of this is a testament as to how much they are willing to try for their customers.

Mastercard and their Philosophy

The philosophy of cryptocurrency is very simple. It is really all about choice. At the end of the day, Mastercard isn’t here to try and push cryptocurrencies. They simply want to try and enable customers as much as possible. They also want to try and help merchants too. At the end of the day, it is all about choice and it is also about digital value, whether this is through traditional value or digital value. They do this in whatever way they want.

They ultimately believe that it is your money and you can do with it whatever you want. Mastercard believes that it can create a lot of opportunities for merchants and shoppers, as this is going to help them to transact and deal with an entirely new form of payment.

Crypto and Casinos

What’s interesting is that casinos across the world are now accepting cryptocurrency. Cryptocurrency is now one of the various online casino deposit methods for a lot of websites and it is not hard to see how far it has come either. People love the idea that they can now play around with Bitcoin online without having their online gambling experience compromised, and this is major, to say the least.

Helping Concepts to Flourish

People have said time and time again that they want to try and help concepts to flourish. They want to help people to reach their potential and they also need to help encourage guardrails. They want to enable customers to move any digital value that they have, in a way that suits them. They believe that ultimately, it should be their choice and that support should be given on any network where possible. Mastercard has come out to say that not every cryptocurrency is going to be supported on the network. Sure, stablecoins are way more regulated and they are also much more reliable when compared to what has happened in the past, but that being said, compliance still needs some work. It is expected that the ecosystem as a whole is going to start to rally around the assets and that stability and reliability is going to be brought to the forefront. It’s those stablecoins that Mastercard hopes to try and bring into the network.

Achieving the Right Result

So what are Mastercard looking for? They are currently seeking four key items. First of all, they need to make sure that they implement consumer protection and that they focus on privacy as much as possible. Next, they have to make sure that they meet strict compliance protocols. By doing this they can then snuff out any illegal activity so that they can stop deception from becoming an issue within the network.

Know Your Customer is going to be implemented as well and this is going to help snuff out any deception that could well take place within the network. These digital assets do follow local laws and they also follow local regulations within the sector. Of course, last of all, people will want to try and use assets like this for payments and that is one of the main criteria. To reach the network it is important for crypto assets to offer a high level of stability so people can use it for a vehicle of spending and not for any kind of investment.

Banking

Banking & Money Tips for Worried Investors in 2023

ByCFI.co Blogger

Are you worried that your bank, savings, and brokerage accounts might be unsafe amid the current financial crisis? If so, you’re like many other concerned investors who want to take every possible precaution to protect themselves during one of the most volatile and unpredictable economies in recent history. What can you do?

inv

Large, national banks tend to be very safe even in shaky economic times. In addition to keeping money in insured, reliable institutions, explore real estate and precious metals, two of the traditional tangible asset categories that have a high survival potential in recessions. Establish a cash emergency fund that is equal to six months of income. Finally, while it’s still safe to be a bank depositor, be wary of investing directly in the banking sector. Here are the pertinent details.

Stick with Reliable Institutions

One of the most common money management mistakes is not utilizing the right institutions to reach your goals. As the global banking crisis continues, prudent investors will find additional security by working with established, insured banking institutions. Always check on your preferred bank’s deposit insurance limits.

They vary based on location and type of institution, so avoid opening an account unless you are comfortable with the listed limits. In most cases, the amounts are high enough to cover individuals who want a safe place to park capital that is not in a brokerage account. However, to protect substantial amounts of cash, consider using more than one bank so that none of your account balances exceeds insured limitation amounts.

Consider Real Estate

Real estate has long been a go-to solution for investors and active market traders who are spooked by high volatility in securities and other paper backed asset classes. Real estate is tangible and offers holders numerous benefits if they are far sighted enough to have included it in their portfolios. What do real estate savvy individuals get for their investments? In addition to potentially excellent cash flow and returns, there are several unique tax-related advantages available.

Working adults tend to feel that it’s too costly to get involved in real estate on the investing side, if they not only must purchase entire properties but must also serve as the property manager. The good news is that both those assumptions are moot for those who choose to get into real estate with no time obligation or large cash outlay. They do it by acquiring fractional shares in properties, a maneuver that avoids major financial commitments and the need to personally oversee properties in a management capacity.

Study the Precious Metals Markets

Gold and silver are traditional safe havens during times of economic strife, rampant inflation, whipsaw stock markets, and other financial ills. If you choose to own bullion, store it in a safe deposit box instead of in your home. Work with metals dealers who charge minimal per-ounce markup and have established a reputation in your community. Never buy from an unknown seller, portable brokerage business, or anyone who refuses to let you test the purity of the metals.

Establish an Emergency Fund ASAP

When the global economy is showing signs of long-term weakness, it’s wise to build a cash emergency fund equal to or greater than six full months of income. The usual three-month rule is too restrictive when you’re attempting to maximize safety and security. Convert other assets into cash if necessary and avoid taking on more debt until the six-month fund is firmly established.

Banking Hack: Be a Depositor, Not an Investor

In the recent banking losses, nearly everyone who lost money was an investor or shareholding in the institutions. Depositors were protected by insurance coverage up to relatively high limits. Until the threat of widespread bank failures subsides, consider staying away from being an owner of banking sector stocks and related securities. If necessary, maintain two or three savings and checking accounts to spread your personal risk of loss.

Technology

Technology Can Save Your Logistics Business Money

ByCFI.co Blogger

Ever since the first caveman made an honest buck by selling animal skins as loincloths, businesspeople have been addressing the twin goals of making more money and spending less. For businesses where getting the goods out to the customer is a significant part of the process, the challenge comes down to the economics of transportation, and the recent development that can really help here is fleet management software.

logistics

Technology’s Power of Analysis

Having an analytical mind is a great attribute in business, but everything you look to is going to take time, so why not get a system installed that does it for you? Then you can use data science to make informed decisions and get stats in depth and detail most of us would find both tedious and difficult? Let’s say you have a fleet of trucks. That means a roster of drivers, and an ever-lengthening list of destinations and constant monitoring to ensure you’re doing it efficiently. The software doesn’t get bored, it doesn’t have to use the bathroom or pick the kids up from school; it does the job, probably in real time, and at any time.

Fleet management software can keep track of where your vehicles are and what route they took to get there. If you know the optimum route and the driver has gone a different way, a discussion may be in order, and you can address the problem directly. The software will also say how fast the truck was going, where it stopped and for how long. There is no way you could know this kind of information without using specialized software.

Fuel Cards for Truckers

In addition to the technology that lurks in your IT system, where there is transportation there is fuel, and if your fleet must rely on gasoline, fuel cards for truckers are a great way for companies to track fuel purchases, set spending controls, and get significant discounts. There are plenty on the market, each with its advantages and its downside, so really, it’s a just a question of studying the different options and making comparisons. There are, of course, websites that will do this for you, but whether you use one or opt to do it yourself, some facts and figures are called for here. Your business isn’t like everyone else’s; you have different requirements, different priorities, different preferences, and it is important to find the card that suits your circumstances and needs best.

What About Going Electric?

Electronic vehicles (EVs) are becoming increasingly common, and they are particularly appropriate if your fleet is comprised of cars and pickups. The bigger beasts may be a while reaching the same levels, but if small is beautiful in your case, you can be a pioneer in your area, the far-sighted company that cares about the environment. In that case, you need to learn what you can about these silent angels of the road.

Where can you charge the cars when out and about? Can you get the hardware installed in your premises and how much will that add to the cost of the vehicles? How far will they go on one full charge? What level of maintenance is required? It is also worth finding out what is on the horizon: what innovation may land soon that changes the game for the better? Self-recharging batteries? Why not? Somebody must be working on ideas like that. They’ve already come up with driverless vehicles, and even if it is still being tested and refined, the experts are on the case.

Drone Deliveries

Another option that is proving to be a game-changer when it comes to money saving technology is drones. These unmanned aerial vehicles have numerous applications in logistics operations, from inventory management and tracking, to making deliveries. Drones can be used to conduct regular aerial surveys of warehouses or distribution centers, providing real-time data on inventory levels, and identifying any discrepancies or inefficiencies in the supply chain.

This information can then be analyzed to optimize warehouse layouts, reduce waste, and improve order fulfillment rates. Additionally, drones can also assist with delivery operations by autonomously transporting small packages directly to customers’ doorsteps. With their ability to bypass congested roads and navigate through difficult terrain quickly, they provide an ideal solution for last-mile delivery challenges faced by many logistics businesses.

Month: May 2023

Crypto and Mastercard – Is the Relationship Growing?