Bitcoin Cryptocurrency Price Chart May Show $30,000 as Floor

Bitcoin has been grinding lower in a trading range just above $30,000, prompting cryptocurrency insiders to flag the round number as a potential floor for the virtual coin.

Crypto prognostication is fraught with risk, not least because Bitcoin’s price has roughly halved from a record high three months ago. Even so, some in the industry are coalescing around $30,000 as a support point, citing clues from options activity and recent trading habits.

In options, $30,000 is the most-sold downside strike price for July and August, signaling confidence among such traders that the level will hold, according to Delta Exchange, a crypto derivatives exchange. It “should provide a strong support to the market,” Chief Executive Officer Pankaj Balani said.

Traders are also trying to take advantage of price ranges, including buying between $30,000 and $32,000 and selling in the $34,000 to $36,000 zone, Todd Morakis, co-founder of digital-finance product and service provider JST Capital, said in emailed comments, adding that “the market at the moment seems to paying attention more to bad news than good.”

Bitcoin has been hit by many setbacks of late, including China’s regulatory crackdown — partly over concerns about high energy consumption by crypto miners — and progress in central bank digital-currency projects that could squeeze private coins. The creator of meme-token Dogecoin recently lambasted crypto as basically a sham, and the appetite for speculation is generally in retreat.

Bitcoin traded around $31,600 as of 9:26 a.m. in London and is down about 6% so far this week. It’s still up more than 200% over the past 12 months, despite a rout in calendar 2021.

Konstantin Richter, chief executive officer and founder of Blockdaemon, a blockchain infrastructure provider, holds out hope for institutional demand, arguing Bitcoin would have to drop below $20,000 before institutions start questioning “the validity of the space.”

“If it goes down fast, it can go up fast,” he said in an interview. “That’s just what crypto is.”

— With assistance by Akshay Chinchalkar

Source: Bitcoin (BTC USD) Cryptocurrency Price Chart May Show $30,000 as Floor – Bloomberg

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Critics:

The dramatic pullback in bitcoin and other cryptocurrencies comes as a flurry of negative headlines and catalysts, from Tesla CEO Elon Musk to a new round of regulations by the Chinese government, have hit an asset sector that has been characterized by extreme volatility since it was created.

The flagship cryptocurrency fell to more than three-month lows on Wednesday, dropping to about $30,000 at one point for a pullback of more than 30% and continuing a week of selling in the crypto space. Ether, the main coin for the Ethereum blockchain network, was also down sharply and broke below $2,000 at one point, a more than 40% drop in less than 24 hours.

Part of the reason for bitcoin’s weakness seems to be at least a temporary reversal in the theory of broader acceptance for cryptocurrency.

Earlier this year, Musk announced he was buying more than $1 billion of it for his automaker’s balance sheet. Several payments firms announced they were upgrading their capabilities for more crypto actions, and major Wall Street banks began working on crypto trading teams for their clients. Coinbase, a cryptocurrency exchange company, went public through a direct listing in mid-April.

The weakness is not isolated in crypto, suggesting that the moves could be part of a larger rotation by investors away from more speculative trades.

Tech and growth stocks, many of which outperformed the broader market dramatically during the coronavirus pandemic, have also struggled in recent weeks.

NFT Of The World Wide Web Source Code Sells For $5.4 Million

Tim Berners-Lee, inventor of the internet

On Wednesday, 32 years after English computer scientist Tim Berners-Lee penned “Information Management: A Proposal,” the genesis of the World Wide Web, Sotheby’s auctioned the Web’s original source code for $5.4 million. It was, of course, in the form of a nonfungible token aka an NFT.

The source code for the Web was sold to an anonymous buyer, according to Sotheby’s. There were a total of 51 bids on the NFT.

“NFTs, be they artworks or a digital artifact like this, are the latest playful creations in this realm, and the most appropriate means of ownership that exists, Berners-Lee said in a statement about the auction. “They are the ideal way to package the origins behind the Web.”

Sotheby conducted the auction, titled “This changed everything” from June 23 through June 30 with the bidding starting at $1,000. The British-founded global marketplace for art collectibles has recently added digital collectibles such as NFTs to its offerings. The proceeds from the $5.4 million will go toward initiatives that Tim Berners-Lee supports, including his open source technology Solid.

NFTs are rapidly becoming a way for members of the digital community to create a virtual museum and document historic moments on the internet, whether that was the $4 million sale of the Doge meme NFT or when Twitter CEO Jack Dorsey sold an NFT of his first tweet for $2.9 million or when digital artist Itzel Yard sold an NFT art made from the key of the first Tor Browser, making her the highest-selling female NFT artist.

Gauthier Zuppinger is the co-founder of nonfungible.com, a database that tracks the sales of NFTs and crypto collectibles. He compared the source code to CryptoPunks, one of the first non-fungible tokens on the Ethereum blockchain. Zuppinger says the code’s singularity and its monumental role in the foundation of the digital world contributed to the skyrocketing bidding price for the NFT.

So what exactly does the anonymous buyer receive? It doesn’t receive any unique usage rights because the source code for the web has been public domain since 1991 when CERN released the worldwide web code library.

The NFT itself contains a myriad of technical tid-bits and gemstones in the history of the Web. The four elements include the original time-stamped files containing the code that was written between October,1990, and August, 1991. The 9,555 lines of code written in the Objective-C programming language depicts the application of three inventions made by the physicist-turned-software engineer: HTML (Hypertext Markup Language); HTTP (Hyper Transfer Protocol); and URIs (Uniform Resource Identifiers). The buyer will also receive a letter from Berners-Lee, an animated visualization and a digital poster of the code.

“As people seem to appreciate the autographed versions of books, now we have NFT technology, I thought it could be fun to make an autographed copy of the original code of the first web browser,” Berners-Lee’s statement reads.

Apart from being the man behind the Web, Berners-Lee is also a director of the World Wide Web consortium, which looks over the development of the Web. As the co-founder and chief technology officer of Inrupt, he is honing open source technology called Solid to come closer to his original vision for the Web to be a shared information space for all members of the society.

Dr. Merav Ozair, an expert on cryptocurrencies and blockchain technology and a fintech faculty member at Rutgers Business School, compared the NFT sale of the World Wide Web source code to the historic moment when the founding fathers of the United States of America signed the Declaration of Independence. The only difference is that the code that created the web also changed the way the world functions today.

“This was also a historic moment when he created a code that initiated everything, and this is not something only for the U.S. it’s for the global community, everywhere,” she says.

Ozair says the auction marks the kick off of Web 3.0, a version of the web where cryptocurrencies thrive.

The source code for the web is already public domain. In fact, Berners-Lee fought with CERN officials for it to be that way, says Marc Webber, the curatorial director of the internet history program at the Computer History Museum.

“It’s a little bit paradoxical. You know, you’ve got an NFT on this completely public domain open thing,” says Webber, who has been researching the history of the web since 1995.

The auction has instigated curiosity about web history, Webber says. But the commodification of computer and technology history could make it difficult for museum curators like him to procure such digital artifacts when NFTs offer the owner lump sum pay-offs and a wide audience.

Webber says that Berners-Lee has had multiple opportunities to cash in on his invention but has always chosen not to so that the web remains in the public domain. “I do know that this is not like a simple ploy to get money,” he says.

Follow me on Twitter or LinkedIn.

I write about tech startups and innovation. I am receiving my master’s degree in magazine journalism from the University of Missouri. I’ve previously written and worked for Vox Magazine in Columbia, Missouri and Kauffman Foundation in Kansas City.

Source: NFT Of The World Wide Web Source Code Sells For $5.4 Million

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Critics:

A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

The NFT market value tripled in 2020, reaching more than $250 million. During the first quarter of 2021, NFT sales exceeded $2 billion. A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded. The NFT can be associated with a particular digital or physical asset (a file or a physical object) and a license to use the asset for a specified purpose. NFTs (and the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets.

NFTs function like cryptographic tokens, but unlike cryptocurrencies such as Bitcoin, are not mutually interchangeable, in other words, not fungible (e.g. one bitcoin is equivalent to any other bitcoin while every NFT may represent a different underlying asset and thus have a different value). NFTs are created when blockchains string records of cryptographic hash, a set of characters identifying a set of data, onto previous records therefore creating a chain of identifiable data blocks.

This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership. However, data links that point to details like where the art is stored can die.The speculative market for NFTs has led more investors to trade at greater volumes and rates.The buying surge of NFTs was called an economic bubble by experts, who also compared it to the Dot-com bubble.

By mid-April 2021, demand appeared to have substantially subsided, causing prices to fall significantly; early buyers were reported to have “done supremely well” by Bloomberg Businessweek. An NFT of the source code of the World Wide Web, credited to internet inventor computer scientist Sir Tim Berners-Lee, was auctioned in June 2021 by Sotheby’s in London, and was sold for USD$5.4

References

SoftBank Invests $200 Million In Brazil’s Largest Crypto Exchange

Brazil’s leading cryptocurrency exchange, Mercado Bitcoin raised $200 million from the SoftBank Latin America Fund, Mercado’s parent company 2TM Group announced today. The investment values 2TM Group at $2.1 billion and is SoftBank’s largest capital injection in a Latin America crypto company.

Following closely on the tails of SoftBank’s investment in the $250 million round raised by Mexican cryptocurrency exchange Bitso in May, the deal shows a growing interest in bringing bitcoin and other cryptocurrencies to Latin America.

“This series B round will afford us to continue investing in our infrastructure, enabling us to scale up and meet the soaring demand for the blockchain-based financial market,“ says Roberto Dagnoni, executive chairman and CEO of 2TM Group. “We want to be the main solution provider for corporate players.”

The São Paulo-based exchange aims to increase the number of listed assets (the exchange currently lists approximately 50 tokens) and grow its 500-member team to 700 by year’s end. Further plans involve regional expansion with focuses on Mexico, Argentina, Chile and Colombia and growth acceleration across 2TM Group’s portfolio, which also include digital wallet provider MeuBank and digital custodian Bitrust (both are subject to regulatory approval).

Founded by brothers Gustavo and Mauricio Chamati in 2013, Mercado Bitcoin has become the largest cryptocurrency exchange in the country. In January, it scored its first financing round co-led by G2D/GP Investments and Parallax Ventures with participation from an array of other investors.

Like many of its counterparts, Mercado Bitcoin has seen significant growth over the past year, with its client base reaching 2.8 million in 2021 – more than 70% of the total number of individual investors on Brazil’s stock exchange B3. Approximately 700,000 clients signed up just between January and May.

Over the same period, trade volume on the exchange had increased to $5 billion, surpassing the total for its first seven years combined. “Every single month [of this year], we are trading the full volume of 2020,” says Dagnoni.

“Mercado Bitcoin is a regional leader in the crypto space and the leading crypto exchange in Brazil. They are tapping into a huge local and regional addressable market measured by potential use cases for crypto,” says Paulo Passoni, managing partner at SoftBank’s SBLA Advisers Corp. (which manages the SoftBank Latin America Fund).

“At SoftBank we look to invest in entrepreneurs who are challenging the status quo through tech-focused or tech-enabled business models that are disrupting an industry – Mercado Bitcoin is doing just that.”

Despite the rapid growth of the local crypto market, Brazilian regulators have been lagging behind. In 2018, Brazilian antitrust watchdog, the Administrative Council for Economic Defense (CADE), opened an investigation into the country’s largest banks for allegedly abusing their power by closing accounts of crypto brokerages. The probe was ongoing as of last year.

In April 2020, Senator Soraya Thronicke proposed an extended set of rules for Brazil’s “virtual asset” businesses, custodians and issuers, consumer protection, crypto taxation and criminal enforcement, however no apparent action has been taken on the bill so far. Nonetheless, Dagnoni says the nation’s regulatory environment is favorable, and the company is closely working with regulators “to build a consistent framework for alternative digital investments in Brazil, in line with its vision of a convergence of the traditional and blockchain-based financial markets.”

Follow me on Twitter or LinkedIn.

I report on cryptocurrencies and emerging use cases of blockchain. Born and raised in Russia, I graduated from NYU Abu Dhabi with a degree in economics and Columbia University Graduate School of Journalism, where I focused on data and business reporting.

Source: SoftBank Invests $200 Million In Brazil’s Largest Crypto Exchange

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Critics:

SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo. The Group primarily invests in companies operating in the technology, energy, and financial sectors. It also runs the Vision Fund, the world’s largest technology-focused venture capital fund, with over $100 billion in capital, backed by sovereign wealth funds from countries in the Middle East.

The company is known for the leadership by its founder and largest shareholder Masayoshi Son. It operates in broadband, fixed-line telecommunications, e-commerce, information technology, finance, media and marketing, and other areas.

SoftBank was ranked in the Forbes Global 2000 list as the 36th largest public company in the world, and the second largest publicly traded company in Japan after Toyota.

The logo of SoftBank is based on the flag of the Kaientai, a naval trading company that was founded in 1865, near the end of the Tokugawa shogunate, by Sakamoto Ryōma.

Although SoftBank does not affiliate itself to any traditional keiretsu, it has close ties with Mizuho Financial Group, its main lender.

See also

 

How Entrepreneurs Are Capitalizing on Digital Transformation in the Age of the ‘New Normal’

How Entrepreneurs Are Capitalising on Digital Transformation in the Age of the 'New Normal'

The Covid-19 pandemic has carried a significant impact on the rate in which businesses are embracing digital transformation. The health crisis has created an almost overnight need for traditional brick and mortar shopping experiences to regenerate into something altogether more adaptive and remote. While some businesses are finding this transition toward emerging technology a little tricky, it’s proving to be a significant opportunity for entrepreneurs in the age of the “new normal.”

Astoundingly, data suggests that digital transformation has been accelerated by as much as seven years due to the pandemic, with Asia/Pacific businesses driving forward up to a decade in the future when it comes to digital offerings.

With entrepreneurs and new startup founders finding themselves in a strong position to embrace modern digital practices ahead of more traditional companies, we’re likely to see a rise in innovation among post-pandemic businesses. With this in mind, let’s take a deeper look into the ways in which digital transformation are benefiting businesses in the age of the new normal:

Fast, data-driven decisions.

Any digital transformation strategy needs to be driven by data. The emergence of big data as a key analytical tool may make all the difference in ensuring that startups take the right steps at the right time to ensure that they thrive without losing valuable resources chasing the wrong target audience, or promoting an underperforming product.

Enterprises today have the ability to tap into far greater volumes of data than ever before, thanks largely to both big data and Internet of Things technology. With the right set of analytical tools, this data can be transformed into essential insights that can leverage faster, more efficient and accurate decisions. Essentially, the deeper analytical tools are embedded in business operations, the greater the levels of integration and effect that may have.

By incorporating more AI-based technology into business models, it’s possible to gain access to huge volumes of big data that can drive key decisions. The pandemic has helped innovations in terms of data and analytics become more visible in the world of business, and many entrepreneurs are turning to advanced AI capabilities in order to modernise their existing applications while sifting through data at a faster and more efficient rate.

Leveraging multi-channel experiences.

Digital transformation is empowering customers to get what they want, when they want, and however they want it. Today, more than half of all consumers expect to receive a customer service response within 60 minutes. They also want equally swift response times on weekends as they’ve come to expect on weekdays. This emphasis on perpetual engagement has meant that businesses that aren’t switched on 24/7/365 are putting themselves at a disadvantage to rivals that may have more efficient operations in place.

The pandemic has led to business happening in real-time – even more so than in brick and mortar stores. Although customers in high street stores know they’re getting a face to face experience, this doesn’t mean that business representatives can offer a similar personalised and immediately knowledgeable service than that of a chatbot or a live chat operative with a sea of information at their disposal.

Modern consumers are never tied to a single channel. They visit stores, websites, leave feedback through mobile apps and ask questions for support teams on social networking sites. By combining these interactions, it’s possible to create full digital profiles for customers whenever they interact with your business – helping entrepreneurs to provide significantly more immersive experiences.

Fundraising via blockchain technology.

Blockchain technology is one of the most exciting emerging technologies today. Its applications are far-reaching in terms of leveraging new payment methods and brokering agreements via smart contracts, and while the use cases for these blockchain applications will certainly grow over the coming years, today the technology is already being widely utilised by entrepreneurs as a form of raising capital through Initial Token Offerings (ITOs), also known as Initial Coin Offerings (ICOs).

As an alternative to the use of traditional banks, venture capital firms, angel investors or crowdfunders, ITO tokens can be made available for exchanges where they can trade freely. These tokens are comparable to equity in a company, or a share of revenue for token holders.

Interested investors can buy into the offering and receive tokens that are created on a blockchain from the company. The tokens could have some practical use within the company where they can be spent on goods or services, or they could purely represent an equity share in a startup or project.

There are currently numerous companies that use blockchain technology to simply and secure its operations. From large corporations like HSBC’s Digital Vault, which is blockchain-based custody platform that allows clients to access details of their private assets to small education startups like ODEM, which aim to democratize education.

Another company that’s pioneering blockchain technology within the world of business is OpenExO, which has developed its own community-driven utility token EXOS, to help build a new transformation economy that helps companies to accelerate, democratise and internationalise their innovation.

Salim Ismail, OpenExO founder, is the former Yahoo technology innovator who developed the industry of Exponential Organizations. He has become a household name in the entrepreneur and innovation landscape, and now he launches the blockchain ecosystem that includes Fortune 500 companies, cities and even countries.

Reaping widespread rewards.

Although digital transformation could begin with a focus on just one facet of a startup, its benefits can be far reaching for employees, consumers and stakeholders alike. It could limit the mundane tasks required of workers, offer greater levels of personalisation for consumers and free up new skills to be developed in other areas of a business.

This, in turn, helps to build more engaged and invested teams that know the value of fresh ideas and perspectives. Although the natural adaptability of entrepreneurs makes the adoption of digital transformation an easier one to make than for established business owners, the benefits can be significant for both new and old endeavours.

The pandemic has accelerated the potential of emerging technologies by over seven years in some cases, the adoption of these new approaches and tools can be an imperative step in ensuring that your business navigates the age of the new normal with the greatest of efficiency.

Dmytro Spilka

By: Dmytro Spilka / Entrepreneur Leadership Network VIP – CEO and Founder of Solvid and Pridicto

Source: How Entrepreneurs Are Capitalising on Digital Transformation in the Age of the ‘New Normal’

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Critics:

Digital Transformation (DT or DX) or Digitalization is the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology. Digital solutions may enable – in addition to efficiency via automation – new types of innovation and creativity, rather than simply enhancing and supporting traditional methods.

One aspect of digital transformation is the concept of ‘going paperless‘ or reaching a ‘digital business maturity’affecting both individual businesses and whole segments of society, such as government,mass communications,art,health care, and science.

Digital transformation is not proceeding at the same pace everywhere. According to the McKinsey Global Institute‘s 2016 Industry Digitization Index,Europe is currently operating at 12% of its digital potential, while the United States is operating at 18%. Within Europe, Germany operates at 10% of its digital potential, while the United Kingdom is almost on par with the United States at 17%.

One example of digital transformation is the use of cloud computing. This reduces reliance on user-owned hardware and increases reliance on subscription-based cloud services. Some of these digital solutions enhance capabilities of traditional software products (e.g. Microsoft Office compared to Office 365) while others are entirely cloud based (e.g. Google Docs).

As the companies providing the services are guaranteed of regular (usually monthly) recurring revenue from subscriptions, they are able to finance ongoing development with reduced risk (historically most software companies derived the majority of their revenue from users upgrading, and had to invest upfront in developing sufficient new features and benefits to encourage users to upgrade), and delivering more frequent updates often using forms of agile software development internally.This subscription model also reduces software piracy, which is a major benefit to the vendor.

Digitalization (of industries and organizations)

Unlike digitization, digitalization is the ‘organizational process’ or ‘business process’ of the technologically-induced change within industries, organizations, markets and branches. Digitalization of manufacturing industries has enabled new production processes and much of the phenomena today known as the Internet of Things, Industrial Internet, Industry 4.0, machine to machine communication, artificial intelligence and machine vision.

Digitalization of business and organizations has induced new business models (such as freemium), new eGovernment services, electronic payment, office automation and paperless office processes, using technologies such as smart phones, web applications, cloud services, electronic identification, blockchain, smart contracts and cryptocurrencies, and also business intelligence using Big Data. Digitalization of education has induced e-learning and Mooc courses.

See also

4 Trends In Fundraising That Will Impact the Future of Philanthropy

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While the needs of fundraising organizations have grown and diversified, the techniques of fundraisers have grown stale instead of evolving. Many organizations continue to use the same strategies to secure gifts as they have for years, despite growing evidence of the need for change.

Unfortunately, because of rare but highly public unethical practices in political and -adjacent industries, nonprofit fundraisers today deal with a lot of issues with stigma, skepticism and mistrust. Recently, the Department of Justice began cracking down on certain matching contributions claims, as an example of the way certain ‘gimmicks’ leave a bad taste in everyone’s mouth.

Because of ongoing challenges, with donor trust, organizations looking to fundraise in 2021 and beyond will not be able to meet new challenges with old habits. Leaders and fundraisers need to be aware of the latest trends in the space to maximize their funding and, by extension, their impact.

Related: How Digital is Bridging the Gap For Nonprofits

Here are a few of the most important trends happening in fundraising right now and what you should do about them.

1. Retain your donors

So many fundraising initiatives focus on acquiring new donors, while not enough attention goes toward the people who have already proven their interest. Retaining your donors is one of the most effective ways to increase funding without overspending on acquisition costs of new donors.

Leaders in fundraising including Dan Pallotta, Mallory Erickson and Kivi Leroux Miller agree on the importance of retaining existing donors. Erickson makes the point that donors stick around when organizations focus on finding “Power Partners” and identifying win-win opportunities for them.

If aligned correctly from the beginning, your existing pool of donors indicate that there is something they like about your organization: your mission, your , your messaging, etc. Find out what makes your donors tick by asking directly. Call, send surveys or post on community messaging boards. Find out why your best donors connect to your organization, then lean into that alignment to keep them engaged.

2. Demonstrate transparency and grace

Fundraising is rarely straightforward. Not only will you struggle to complete many of your goals, but you will likely make mistakes along the way. Be transparent about issues when they arise, but don’t fall flat over every small misstep. Instead, be graceful, accept the lesson and communicate what you will do differently next time.

The pandemic provided plenty of examples of what to do and what not to do on this subject. Take the CDC, for example. At the end of last year, the organization printed, then retracted, then removed a statement about how Covid-19 spreads through airborne transmission. The organization did not change its stance, but it was a bad look in an already tense conversation.

Stay focused on the mission throughout any communication on a faux pas. Clearly illustrate what went wrong and why, reiterate your commitment to the cause and explain what will happen next. The best part of transparency is accountability, and for fundraising purposes, remaining accountable is a must.

Related: Why Radical Transparency (With Staff and Customers) Is Good for Business

3. Step back to see what works

You cannot build a smart fundraising strategy if you never step back to evaluate the effectiveness of your actions. Schedule time each quarter, and preferably each month, to review specific messaging campaigns, events and other initiatives to see what landed and what did not.

Donor Search recommends tracking all the basics, like donation volume, size and retention rates, but also focuses smartly on digital engagement. In a world where fundraising can happen any time online, leaders of fundraising organizations must be digitally savvy.

Lead-tracking can be a great way to identify the best sources of new donors. Ask simple questions of event attendees in follow-up email campaigns and surveys. Invite them to download content about your organization or register for your next event. Try different ways to funnel different donor leads toward single large gifts, smaller recurring gifts or whichever arrangement you find has the highest conversion rate.

Related: 3 Nonprofit Funding Avenues All Founders Should Know About

4. Ditch the perfectionism

No one gets everything right the first time. This isn’t about transparency, though. While it is important to own your mistakes, it’s also important to act decisively when you have enough information instead of waiting until it’s too late.

Have a potential lead on a big donor but your contact fell through? Do your own research and reach out directly. Want to try a new messaging strategy but not sure if the budget is worth it? Try a small test audience and see how it goes. Some of your moves will fail, but you can’t let that stop you from trying. Perfectionism will only slow you down.

Fundraising in 2021 happens in bursts of opportunity. The right moment is only a moment away, and fortune favors those who take action before stopping to work out all the details.

These trends in fundraising have arisen because new tools, new strategies and new social pressures demanded change. The older, more passive ways of fundraising will not be as effective in the months and years to come. Embrace these changes and use these tips to secure the funding your mission needs to move forward.

Peter Daisyme

By: Peter Daisyme / Entrepreneur Leadership Network VIP

Source: 4 Trends In Fundraising That Will Impact the Future of Philanthropy

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Critics:

Philanthropy consists of “private initiatives, for the public good, focusing on quality of life“. Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material gain, and with government endeavors, which are public initiatives for public good, e.g., focusing on provision of public services. A person who practices philanthropy is a philanthropist.

Philanthropy is different from charity, though there is some overlap. Charity aims to relieve the pain of a particular social problem, whereas philanthropy attempts to address the root cause of the problem.

Traditional philanthropy and impact investment can be distinguished by how they serve society. Traditional philanthropy is usually short-term, where organizations obtain resources for causes through fund-raising and one-off donations. The Carnegie Corporation, the Rockefeller Foundation and the Ford Foundation are examples of such; they focus more on the financial contributions to social causes and less on the actual actions and processes of benevolence.

Impact investment, on the other hand, focuses on the interaction between individual wellbeing and broader society through the promotion of sustainability. Stressing the importance of impact and change, they invest in different sectors of society, including housing, infrastructure, healthcare and energy.

A suggested explanation for the preference for impact investment philanthropy to traditional philanthropy is the gaining prominence of the Sustainable Development Goals (SDGs) since 2015. Almost every SDG is linked to environmental protection and sustainability because of raising concerns about how globalisation, liberal consumerism and population growth may affect the environment. As a result, development agencies have seen increased accountability on their part, as they face greater pressure to fit with current developmental agendas.

Philanthrocapitalism differs from traditional philanthropy in how it operates. Traditional philanthropy is about charity, mercy, and selfless devotion improving recipients’ wellbeing. Philanthrocapitalism, is philanthropy transformed by business and the market, where profit-oriented business models are designed that work for the good of humanity. Share value companies are an example. They help develop and deliver curricula in education, strengthen their own businesses and improve the job prospects of people. Firms improve social outcomes, but while they do so, they also benefit themselves.

The rise of philanthrocapitalism can be attributed to global capitalism. There is an understanding that philanthropy is not worthwhile if no economic benefit can be derived by philanthropy organisations, both from a social and private perspective. Therefore, philanthropy has been seen as a tool to sustain economic growth and the firm’s own growth, based on human capital theory. Through education, specific skills are taught which enhance people’s capacity to learn and their productivity at work.

See also

How To Embrace The Post-Pandemic, Digital-Driven Future Of Work

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Digital will separate the winners from the laggards in the hypercompetitive, post-pandemic business landscape, says Ben Pring, Managing Director of Cognizant’s Center for the Future of Work. We undertook a global, multi-industry study to understand how businesses are preparing for this future and here’s what we found.

COVID-19 changed digital from a nice-to-have adjunct to a must-have tool at the core of the enterprise. The pandemic forced businesses to reassess how they strategize and execute their digital ambitions in a world that has migrated online, possibly for good in many areas. Those that did not prioritize digital prior to the pandemic found that procrastination was no longer an option — the digital landscape is hypercompetitive.

The Cognizant Center for the Future of Work (CFoW), working with Oxford Economics, recently surveyed 4,000 C-level executives globally to understand how they are putting digital to use and what they hope to achieve in the coming years.

The CFoW found that digital technologies are key to success in the coming years and uncovered six key steps that all organizations can take to more fruitfully apply to gear-up for the fast unfolding digital future:

  • Scrutinize everything because it’s going to change. From how and where employees work, to how customers are engaged, and which products and services are now viable as customer needs and behaviors evolve rapidly.
  • Make technology a partner in work. Innovations in AI, blockchain, natural language processing, IoT and 5G communications are ushering in decades of change ahead and will drive new levels of functionality and performance.
  • Build new workflows to reach new performance thresholds. The most predictable, rote and repetitive activities need to be handed off to software, while humans specialize in using judgment, creativity and language.
  • Make digital competency the prime competency for everyone. No matter what type of work needs to be done, it must have a digital component. Levels of digital literacy need to be built out even among non-technologists, including specialized skills.
  • Begin a skills renaissance. Digital skills such as big data specialists, process automation experts, security analysts, etc. aren’t easy to acquire. To overcome skills shortages, organizations will need to work harder to retain and engage workers.
  • Employees want jobs, but they also want meaning from jobs. How can businesses use intelligent algorithms to take increasing proportions of tasks off workers’ plates, allowing them to spend their time creating value? This search for meaning stretches beyond the individual tasks of the job to what the organization itself stands for.

Here are a few key findings from our research:

Redesigning the workplace is just the beginning: The virus will force enterprises to ask more strategic questions.

A mesh of machine emerges: While IoT is beginning to take hold, few respondents have piloted 5G projects. But over time , the mesh of machines created by IoT and 5G will serve as the foundation for news levels of functionality and possibility.

The 3As-AI , automation and analytics are the engines of digitization: To make the future of work happen, the 3As are emerging as a sophisticated and complex set of tools more deeply embedded in processes.

To learn more, read our whitepaper “The Work Ahead: Digital First (to Last)” or see the full Work Ahead study series.

Ben Pring leads Cognizant’s Center for the Future of Work and is a coauthor of the books Monster: A Tough Love Letter On Taming The Machines That Rule Our Jobs, Lives, and Future, What To Do When Machines Do Everything and Code Halos: How the Digital Lives of People, Things, and Organizations Are Changing the Rules of Business. In 2018, he was a Bilderberg Meeting participant. He previously spent 15 years with Gartner as a senior industry analyst, researching and advising on areas such as cloud computing and global sourcing. He can be reached at Benjamin.Pring@cognizant.com

Source: How To Embrace The Post-Pandemic, Digital-Driven Future Of Work

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Critics:

Digitalization  is the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology. Digital solutions may enable – in addition to efficiency via automation – new types of innovation and creativity, rather than simply enhancing and supporting traditional methods.

One aspect of digital transformation is the concept of ‘going paperless‘ or reaching a ‘digital business maturity’ affecting both individual businesses and whole segments of society, such as government,mass communications,art, health care, and science.

Digital transformation is not proceeding at the same pace everywhere. According to the McKinsey Global Institute‘s 2016 Industry Digitization Index, Europe is currently operating at 12% of its digital potential, while the United States is operating at 18%. Within Europe, Germany operates at 10% of its digital potential, while the United Kingdom is almost on par with the United States at 17%.

One example of digital transformation is the use of cloud computing. This reduces reliance on user-owned hardware and increases reliance on subscription-based cloud services. Some of these digital solutions enhance capabilities of traditional software products (e.g. Microsoft Office compared to Office 365) while others are entirely cloud based (e.g. Google Docs).

As the companies providing the services are guaranteed of regular (usually monthly) recurring revenue from subscriptions, they are able to finance ongoing development with reduced risk (historically most software companies derived the majority of their revenue from users upgrading, and had to invest upfront in developing sufficient new features and benefits to encourage users to upgrade), and delivering more frequent updates often using forms of agile software development internally. This subscription model also reduces software piracy, which is a major benefit to the vendor.

Unlike digitization, digitalization is the ‘organizational process’ or ‘business process’ of the technologically-induced change within industries, organizations, markets and branches. Digitalization of manufacturing industries has enabled new production processes and much of the phenomena today known as the Internet of Things, Industrial Internet, Industry 4.0, machine to machine communication, artificial intelligence and machine vision.

Digitalization of business and organizations has induced new business models (such as freemium), new eGovernment services, electronic payment, office automation and paperless office processes, using technologies such as smart phones, web applications, cloud services, electronic identification, blockchain, smart contracts and cryptocurrencies, and also business intelligence using Big Data. Digitalization of education has induced e-learning and Mooc courses.

See also

 

Tanzania Considers Crypto and Boosts Bitcoin as Nations Line Up Behind El Salvador To Embrace Decentralized Finance

Bitcoin

Tanzania became the latest country to signal its support for digital assets this weekend as its president instructed financial authorities to prepare for widespread use of cryptocurrencies, elevating bitcoin prices further after El Salvador became the first country to make bitcoin legal tender last week and Elon Musk outlined plans for Tesla to resume accepting bitcoin as a form of payment.

Key Facts

President Samia Suluhu Hassan called on the Tanzanian Central Bank Sunday to begin “working on” facilitating widespread use of cryptocurrencies in the East African nation.  While many in Tanzania have not yet embraced decentralized finance, Hassan said the Central Bank should “be ready for the changes and not be caught unprepared.

”Hassan is one of the most senior politicians to signal support for digital assets since El Salvador voted to adopt bitcoin as legal tender last week and helped give the flagging market a boost. The announcement helped bitcoin gain nearly 10% in 24 hours, nearly reaching $40,000 a token Monday morning.

The token was also buoyed on by news that Tesla would resume its use of bitcoin when there is proof the asset is obtained using around 50% clean energy.

What To Watch For

There is growing popular support for bitcoin adoption in Nigeria that also gained momentum over the weekend. Russell Okung, an NFL player of Nigerian descent, penned an open letter to the Nigerian president imploring the country to adopt a Bitcoin standard so as to avoid “falling behind.” Twitter and Square CEO Jack Dorsey, one of the most high profile crypto enthusiasts, tweeted his support of the idea a number of times over the weekend.

Key Background

While reaching its highest point in several weeks, bitcoin, along with the wider crypto market, is still recovering from a tailspin that rapidly wiped over $700 billion from the market’s value. This slump was primarily induced by Tesla announcing it would no longer accept bitcoin due to environmental concerns and China cracking down on the assets.

Support from the likes of El Salvador, alongside other countries and banks that may begin to adopt bitcoin, or other cryptocurrency tokens, the market has slowly started to recover, though remains volatile. Beyond Tanzania, lawmakers in a number of Latin American countries have expressed at least a casual interest in following El Salvador’s footsteps, including Brazil and Panama.

Further Reading

El Salvador Makes History As World’s First Country To Make Bitcoin Legal Tender (Forbes)

Tanzanian president urges central bank to prepare for crypto (Coin Telegraph)

I am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter @theroberthart or email me at rhart@forbes.com

Source: Tanzania Considers Crypto—And Boosts Bitcoin—As Nations Line Up Behind El Salvador To Embrace Decentralized Finance

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Critics:

The European Union has passed no specific legislation relative to the status of bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional (fiat) currency and bitcoin. VAT/GST and other taxes (such as income tax) still apply to transactions made using bitcoins for goods and services. 

In October 2015, the Court of Justice of the European Union ruled that “The exchange of traditional currencies for units of the ‘bitcoin’ virtual currency is exempt from VAT” and that “Member States must exempt, inter alia, transactions relating to ‘currency, bank notes and coins used as legal tender‘”, making bitcoin a currency as opposed to being a commodity. According to judges, the tax should not be charged because bitcoins should be treated as a means of payment.

According to the European Central Bank, traditional financial sector regulation is not applicable to bitcoin because it does not involve traditional financial actors. Others in the EU have stated, however, that existing rules can be extended to include bitcoin and bitcoin companies.

The European Central Bank classifies bitcoin as a convertible decentralized virtual currency. In July 2014 the European Banking Authority advised European banks not to deal in virtual currencies such as bitcoin until a regulatory regime was in place.

In 2016 the European Parliament’s proposal to set up a task force to monitor virtual currencies to combat money laundering and terrorism, passed by 542 votes to 51, with 11 abstentions, has been sent to the European Commission for consideration.

See also

References

How The Power Of Predictive Analytics Can Transform Business

Tableau analytics visual

With the acceleration of digital transformation in business, most CTOs, CIOs, and even middle management or analysts are now asking, “What’s next with data?” and what ongoing role will technology play in both digital and data transformations. Other questions that keep these individuals up at night include:

  • How can people throughout all organizational levels be more empowered to use data and help others make better decisions?
  • What prevents people from more deeply exploring and using data?
  • In what ways can analytics tools and methods help more people use data in the daily routine of business—asking questions, exploring hypotheses, and testing ideas?

With this in mind, plus observations and discussions with many Tableau customers and partners, it seems that today’s circumstances, behaviors, and needs make it the right time for predictive data analytics to help businesses and their people solve problems effectively.

Current realities and barriers to scale smarter decision-making with AI 

With growing, diverse data sets being collected, the analytics use cases to transform data into valuable insights are growing just as fast. Today, a wide range of tools and focused teams specialize in uncovering data insights to inform decision-making, but where organizations struggle is striking the right balance between activating highly technical data experts and business teams with deep domain experience.

Until now, using artificial intelligence (AI), machine learning (ML), and other statistical methods to solve business problems was mostly the domain of data scientists. Many organizations have small data science teams focused on specific, mission-critical, and highly scalable problems, but those teams usually have a long project list to handle.

At the same time though, there are a large number of business decisions that rely on experience, knowledge, and data—and that would greatly benefit from applying more advanced analysis techniques. People with domain knowledge and proximity to the business data could benefit greatly, if they had access to these techniques.

Instead, there’s currently a back-and-forth process of relying on data scientists and ML practitioners to build and deploy custom models—a cycle that lacks agility and the ability to iterate quickly. By the end, the data that the model was trained on could be stale and the process starts again. But organizations depend on business users to make key decisions daily that don’t rise to the priority level of their central data science team.

The opportunity to solve data science challenges

This is where there’s an opportunity to democratize data science capabilities, minimizing the trade-offs between extreme precision and control versus the time to insight—and the ability to take action on these insights. If we can give people tools or enhanced features to better apply predictive analytics techniques to business problems, data scientists can gain time back to focus on more complex problems. With this approach, business leaders can enable more teams to make data-driven decisions while continuing to keep up with the pace of business. Additional benefits gained from democratizing data science in this way include:

  • Reducing data exploration and prep work
  • Empowering analyst experts to deliver data science outputs at lower costs
  • Increasing the likelihood of producing successful models with more exploration of use cases by domain experts
  • Extending, automating, and accelerating analysis for business groups and domain experts
  • Reducing time and costs spent on deploying and integrating models
  • Promoting responsible use of data and AI with improved transparency and receiving guidance on how to minimize or address bias

Business scenarios that benefit from predictive analytics 

There are several business scenarios where predictive capabilities can be immensely useful.

Sales and marketing departments can apply it to lead scoring, opportunity scoring, predicting time to close, and many other CRM-related cases. Manufacturers and retailers can use it to help with supply chain distribution and optimization, forecasting consumer demand, and exploring adding new products to their mix. Human resources can use it to assess the likelihood of candidates accepting an offer, and how they can adjust salary and benefits to meet a candidate’s values. And companies can use it to explore office space options and costs. These are just a few of the potential scenarios.

A solution to consider: Tableau Business Science

We are only at the beginning of exploring what predictive capabilities in the hands of people closely aligned with the business will unlock. AI and ML will continue to advance. More organizations, in a similar focus as Tableau, will also keep looking for techniques that can help people closest to the business see, understand, and use data in new ways to ask and answer questions, uncover insights, solve problems, and take action.

This spring Tableau introduced a new class of AI-powered analytics that gives predictive capabilities to people who are close to the business. In this next stage of expanded data exploration and use, we hope business leaders embrace data to help others make better decisions, and to provide transparent insight into the factors influencing those decisions.

When people can think with their data—when analysis is more about asking and answering questions than learning complex software or skills—that’s when human potential will be unleashed, leading to amazing outcomes. Learn more about Tableau Business Science, what this technology gives business teams, and the value it delivers to existing workflows.

Olivia Nix is a Senior Manager of Product Marketing at Tableau. She leads a team focused on the use of AI and ML in analytics and engagement, including how to use technology to enable more people in organizations to make data-driven decisions. Olivia has been at Tableau for four years where she has worked closely with development teams on new product launches. Prior to Tableau, Olivia worked as an analyst at the Pew Center on Global Climate Change (now C2ES) and Johnson Controls. She has her MBA from the UCLA Anderson School of Management.

Source: How The Power Of Predictive Analytics Can Transform Business

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Critics:

Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modelling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events.

In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions.

The defining functional effect of these technical approaches is that predictive analytics provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organizational unit) in order to determine, inform, or influence organizational processes that pertain across large numbers of individuals, such as in marketing, credit risk assessment, fraud detection, manufacturing, healthcare, and government operations including law enforcement.

Predictive analytics is used in actuarial science,marketing,business management, sports/fantasy sports, insurance,policing, telecommunications,retail, travel, mobility, healthcare, child protection, pharmaceuticals,capacity planning, social networking and other fields.

One of the best-known applications is credit scoring,[1] which is used throughout business management. Scoring models process a customer’s credit history, loan application, customer data, etc., in order to rank-order individuals by their likelihood of making future credit payments on time.

Predictive analytics is an area of statistics that deals with extracting information from data and using it to predict trends and behavior patterns. The enhancement of predictive web analytics calculates statistical probabilities of future events online. Predictive analytics statistical techniques include data modeling, machine learning, AI, deep learning algorithms and data mining.Often the unknown event of interest is in the future, but predictive analytics can be applied to any type of unknown whether it be in the past, present or future.

For example, identifying suspects after a crime has been committed, or credit card fraud as it occurs.The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting them to predict the unknown outcome. It is important to note, however, that the accuracy and usability of results will depend greatly on the level of data analysis and the quality of assumptions.

Predictive analytics is often defined as predicting at a more detailed level of granularity, i.e., generating predictive scores (probabilities) for each individual organizational element. This distinguishes it from forecasting. For example, “Predictive analytics—Technology that learns from experience (data) to predict the future behavior of individuals in order to drive better decisions.”In future industrial systems, the value of predictive analytics will be to predict and prevent potential issues to achieve near-zero break-down and further be integrated into prescriptive analytics for decision optimization.

See also

China Cracks Down On Crypto Business, Saying ‘Speculative’ Trading ‘Seriously Infringing’ On Financial Order

Bitcoin, cryptocurrency image

Chinese financial officials announced Tuesday that the country would crack down on financial institutions conducting cryptocurrency business or offering related services in light of the market’s recent volatility, marking another blow to the nascent market reeling from one of its biggest sell-offs ever after booming institutional adoption helped lift it to meteoric highs during the pandemic.

In a joint statement Tuesday, three Chinese industry groups overseeing the financial sector announced that bank and payment institutions can not conduct business related to cryptocurrencies, specifically banning a slew of activities including cryptocurrency registration, trading, clearing and settlement.

The guidelines, which reiterate a previous ban from 2017, also bar financial institutions from accepting or using cryptocurrencies in payments or settlements, developing digital currency exchange services and offering any such services to clients.

The group specifically laid into the cryptocurrency’s market massive volatility, saying digital tokens have “no real support value” and prices that are “extremely easy” to manipulate.

The move prohibits Chinese financial institutions, many of which had already shied away from offering crypto services amid the nation’s past crackdown, from issuing cryptocurrency products or services, but it doesn’t ban consumers from owning cryptocurrencies.

The value of the world’s cryptocurrencies dropped about $50 billion, or 2.5% immediately after the announcement, pushing the week’s staggering losses to roughly $500 billion from a Wednesday high above $2.5 trillion.

Crucial Quote

“Recently, crypto currency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded, seriously infringing on the safety of people’s property and disrupting the normal economic and financial order,” the Tuesday statement read. “Judging from the current judicial practice in my country, virtual currency transaction contracts are not protected by law.”

Key Background

A wave of early regulatory crackdowns beginning in 2017 sparked a nearly 80% correction in cryptocurrency prices and a yearslong bull market that lasted until inflationary concerns and institutional adoption lifted the market to new highs during the pandemic. In March, Morgan Stanley became the first big bank in the U.S. to give wealthy clients access to cryptocurrency investments, and Goldman Sachs quickly followed suit with its own crypto offerings in April. JPMorgan and a slew of other smaller financial institutions have also reportedly indicated they may be next.

Surprising Fact

Cryptocurrencies soared nearly 500% over the past year as companies like Square, MicroStrategy and Tesla, in particular, started making big cryptocurrency investments, but in a testament to the market’s extreme volatility, prices have plunged by about 30% since Elon Musk said Tesla would stop investing in bitcoin last month.

What To Watch For

Regulation in the U.S. Gensler and Yellen. Earlier this month, new Securities and Exchange Commission Chair Gary Gensler suggested that the agency may be gearing up for a long-awaited crypto crackdown in light of the market’s recent boom, telling CNBC: “To the extent that something is a security, the SEC has a lot of authority, and a lot of crypto tokens—I won’t call them ‘cryptocurrencies’ for this moment—are indeed securities.”

I’m a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC’s Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com.

Source: China Cracks Down On Crypto Business, Saying ‘Speculative’ Trading ‘Seriously Infringing’ On Financial Order

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Critics:

Bitcoin does not share the traits listed above: it does not maintain a stable value and its fixed number of coins means that it can’t keep up with an insatiable global demand for safe assets like the U.S. debt market can. Indeed, investor willingness to fund more than $21 trillion in U.S. public debt, often at negative real interest rates, shows that the U.S. dollar continues to have massive appeal even as cryptocurrencies go mainstream.

Furthermore, China’s actions over the past decade show that it is deeply skeptical of bitcoin and likely sees it as a threat to the power of the Chinese Communist Party. In 2017, the People’s Bank of China and five other ministries banned financings using cryptocurrency, like initial coin offerings, and banned the exchange of fiat money for cryptocurrency, according to Rain Xie of the Washington University School of Law.

 

What is Virtual Pins Exchange Any Data Between Blynk App & Your Hardware – Pavel

Virtual pins are different than  Digital and Analog Input/Output (I/O) pins. They are physical pins on your microcontroller board where you connect sensors and actuators.

Blynk lets you control any hardware connected to Digital and Analog pins without having to write any additional code.

For example, if you need to turn On/Off LED connected to Digital pin, you don’t have to write any code:

  1. Just use BlynkBlink code for your hardware.
  2. In the Blynk app – add Button Widget and set it to pin D8
  3. That’s it! No additional code is required. Simply press Play in the app.

That was, easy, right? But what if you need more flexibility?

Virtual Pins

Virtual pins allow you to interface with any sensor, any library, any actuator.

Imagine that there are “virtual” pins that you can use

Think about Virtual Pins as a box where you can put any value, and everyone who has access to this box can see this value.

It’s a very powerful feature to display and send any data from your hardware to Blynk app.

☝️ Remember, that virtual pins have no physical properties.

There are two fundamental commands you need to know to use Virtual Pins:

To read data from Blynk app widgets

Use this block of code:

BLYNK_WRITE(V5) // V5 is the number of Virtual Pin  
{
  int pinValue = param.asInt();
}

Where param.asInt()  is the value from V5.

👉 Full article: How to control anything with Blynk

To send data from your hardware to Blynk app

Use this command Blynk.virtualWrite(V5) where V5 is the Virtual Pin you are using.

⚠️ WARNING:
Don’t place
Blynk.virtualWrite(V5) inside  void loop()

– Why?
– Read here

👉 Full article: How to display any sensor data with Blynk

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