Cryptocurrency is defined as the money of the future or a 21st-century unicorn as some may joke. It has become a global phenomenon while being misunderstood by majority of financial institutions, governments and companies which are still working according to old standards. However, many of people working there have heard about virtual currencies such as Bitcoin which confused the society with its innovative approach to handling money flow in a form of digital cash.
The most popular cryptocurrencies of today The most popular cryptocurrencies nowadays are: Bitcoin (market cap $11, 382, 240, 050), Ethereum (market cap $904,848,975), Ripple (market cap $290,446,848), Litecoin (market cap $184,904,214), Monero (market cap $83,466,495), Ethereum Classic (market cap $80, 817, 441), Dash (market cap $66, 519, 213), Augur (market cap $52, 038, 360), NEM (market cap $37, 322, 550), Waves (market cap $35, 727, 500).
Bitcoin Is the first such currency which serves as a digital gold standard in the whole industry. Its price has increased from 0 to more than $650, while their transaction volume reached more than 200 thousand daily transactions.
Litecoin While Bitcoin is referred to as a digital gold, this cryptocurrency is referred to as digital silver. It has an updated algorithm, is even faster and has a larger amount of token than the Bitcoin. However, it is still called „a smaller brother of of bitcoin”.
Ethereum Is very flexible family of cryptocurrencies as it validates a set of accounts, balances and states as well being able to process complex programs and contracts.
Monero This cryptocurrency raised a lot of awareness when its popularity peaked in Summer 2016. It happened for the reason of darknetmarkets deciding not to accept it as a currency. The consequences were its price increase and a decrease of its actual usage.
Ripple Has a bigger tendency to process IOUs than to be a cryptocurrency, it doesn’t serve as a medium to store and exchange value while having a XRP as a store of value. It is more like a token to protect the network about spam. However, such financial institutions as banks can use them and are using today as well on a daily basis.
Cryptocurrencies’ working mechanism Professional people refer cryptocurrencies as some sort of limited entries in a database no one can change without fulfilling specific conditions. In addition, it is a definition of any currency as well. This is true due to the structure of a cryptocurrency. For example Bitcoin consists of a network of peers each of them having a record of the history of all transactions and the balance of every account. A transaction can be defined as a simple file which states that someone is transferring a certain amount of bitcoins to another person and seals the deal by signing the file with his or her private key. After signing the file, the transaction made is broadcasted in the network and sent from one peer to another.
The whole mechanism looks like: someone requests a transaction – it is then broadcasted to P2P network consisting of computers (nodes) – then validation comes into play as the user’s status must be validated by using known algorithms – after the verification the transaction is combined with other transactions in order to create a new block of data – it is then added to the existing block chain – and the transaction is complete.
So, basically cryptocurrencies working mechanism or better to say a technology can be called a p2p-technology where cryptocurrency itself becomes a medium of exchange which is created and stored electronically in the block chain by using some encryption techniques for controlling the creation of monetary units and verifying the transfer of funds. In general, cryptocurrency is digital money which was created from code which economy is monitored by a peer-to-peer internet protocol which has an encoded or encrypted string of data.
The increasing popularity of cryptocurrencies Nowadays cryptocurrencies are increasing in popularity mostly due to their revolutionary properties which make them similar to digital gold, while being also secure from political influence. They are pretty fast and comfortable means of monetary transactions. Cryptocurrencies can also serve as means of payment for black markets as they are anonymous. They are creating a dynamic market of investors as they daily trade volume exceeds that of major European stock exchanges. Every day more new cryptocurrencies are emerging and the old ones disappearing after a few months survival marathon at the cryptocurrency market.
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Multinational companies and governments around the world are increasingly looking to Africa as a new business destination. Africa's economy has grown at a rate of around 5.3% per year over the last decade and six of the world's ten fastest growing economies are located here. These countries have a fast-growing middle class that contributes to rapid urbanization that is increasing faster than their cities' infrastructure can keep up. It is a common misconception that many economies in Africa are heavily dependent on energy production. In reality, the oil and gas sector accounted for only 11% of Nigeria's GDP in 2014, while the construction sector accounted for 20%.
When considering doing business in Africa, it is not a matter of choosing just one country or all 54; A regional approach makes more sense. Sub-Saharan Africa, for example, refers to sub-Saharan countries such as Angola, Kenya, South Africa and Nigeria. Many companies already doing business in Africa are separating their businesses in North Africa and Sub-Saharan Africa due to the stark economic, linguistic and cultural differences between the two regions. Here are our top 5 African countries for doing business:
Mauritius Mauritius is known for offering an extremely favorable business environment for investment and business growth. The process of incorporating a company and starting new business activities in Mauritius is believed to be straightforward and relatively easy. Mauritius' economy is mainly based on textiles, tourism, sugar and financial services, although recently other sectors such as renewable energy and information technology are expanding rapidly. The World Bank ranked Mauritius 49th in its Doing Business 2017 ranking, largely due to its pro-business approach to dealing with building permits, enforcing contracts and protecting minority investors. Another ranking of African countries places Mauritius first based on factors such as law and security, economy, human development and human rights.
Rwanda Despite nearly a decade of Rwanda's civil war, the country's leaders and citizens alike have worked to achieve a healthy business climate and a strong overall economy. According to the World Bank, Rwanda is the second easiest place to do business in Africa and ranks 56th in the Doing Business ranking. This is because the procedures for registering a property, obtaining credit and trading across borders have been greatly simplified. Tourism is currently the fastest growing sector in Rwanda. According to our research, businesses can be incorporated and operating in as little as three days.
Botswana Since gaining independence, Botswana has had one of the fastest per capita economic growth rates in the world. As the government works to diversify the country's profitable industries, the mining of diamonds and other precious metals is currently the main contributor to the country's economy. Recently, Botswana has managed to reduce the time it takes for various processes including import and export and business formation procedures. In addition, technological upgrades have reduced the average court length for commercial disputes to 625 days (from 987 days in 2008). Thanks to these improvements, Botswana ranks 71st in the World Bank's Doing Business 2017 ranking.
South Africa South Africa's key industries are automobile manufacturing, tourism, mining and information and communication technologies. South Africa has managed to simplify its import and export procedures, resulting in less time and fewer documents required. In addition, the South African authorities have simplified tax legislation, reducing the number of hours required to prepare tax reports. The World Bank ranked South Africa 74th for ease of doing business in 2017.
Kenya Another country to keep an eye on is Kenya, which is currently making huge investments in sectors such as telecom, transport and energy. With a tech-savvy workforce and high-speed internet, Kenya stands out as one of the top countries in Africa for tech startups, while its diversified economy, strong ownership rights, excellent tourism sector and improving infrastructure make it a great location for general start a new company. If you have further questions about company formation or banking in Africa. Please contact us now.
Spain is a unitary parliamentary constitutional monarchy. In terms of political and civil liberties, Spain is 1. Citizens in Spain experience total freedom. The majority of countries where citizens enjoy wide civil liberties and political liberties are representative democracies, where officials are directly elected by the citizens to advocate for their needs and wants. Free countries are often empowered by healthy economies and well-functioning governments. Head of government is Felipe VI.
According to the World Bank Group, Spain's Government Effectiveness Index is 1.15. This shows that the Spanish government is effective. Citizens enjoy well-organized public and public services, and government efficiency is high. While some services are lacking in certain areas, the overall environment encouraged by government legislation is favourable. In Spain, legislative power rests with a court. The Global Peace Index (GPI) for Spain is 1.451. The index for the strength of legal rights for Spain is 5. Overall, it is considered rather insufficient - bankruptcy and collateral laws can protect the rights of borrowers and lenders to a certain extent; Credit information may be sufficient but scarcely available, or conversely, available but not sufficient. In 2013, Spain received US$487.5 million in development aid. In 2014, foreign aid was $607.5. Spain is a member of the United Nations (UN). On December 14, 1955, it joined the UN as a full member. Spain is a member of the European Union (EU). On December 14, 1955, it joined the EU as a full member. Spain is a member of the World Bank.
Adult literacy rate in Argentina is 98.1%. Male literacy is 98%. Female literacy is 98.1%. Therefore, male literacy and female literacy differ by 0.099999999999994%. Government expenditure on education is 6.5% of GDP. The education index of Argentina is 0.783 - formal education levels are high, secondary education is a standard for most of the population; higher education is highly available and widespread due to the fact that graduates are economically demanded, and in many such countries having a higher education is also becoming a default option. People in Argentina speak the Spanish language.
ome jurisdictions laws require to assign a Corporate Secretary with association of the Registered Office of the company. For example, it is required by law officer in Gibraltar, Cyprus, Malta and Hong Kong. Or, it is an optional position in Ireland, United Kingdom or Marshall Islands. A Corporate Secretary is quite a different positon from what we commonly understand by secretarial services. A Corporate Secretary is an official officer in the company, who oversees the efficient administration of a company, especially in respect of compliance with statutory and administrative requirements. The main duties of the Company Secretary may vary from country to country, but commonly those are:
To keep and sometimes issue share certificates; To maintain the company’s statutory registers; To maintain and update all company registers; To keep the company’s seal; To prepare the notices for board meetings or shareholders’ meetings; To prepare and lodge filings and minutes of the company’s meetings; To prepare and file annual returns and other financial documents with the Trade Register; To prepare any other document required by the law; To sign statutory declarations on behalf of the company and authenticate documents.
Zambia's logistics performance index is 2.46. It indicates mediocre performance - transit procedures are relatively unreliable, timeliness and safety of goods being transported are often an issue, although such a system can work relatively well when traffic is not too heavy.
Inch performance is rated at 2.54. This indicates satisfactory performance - the customs clearance procedure is generally effective, although a long time can occasionally be a problem; the customs system certainly does not discourage international business activities; required documents and fees are generally publicly available.
The infrastructure quality in Zambia is rated at 2.31. It indicates mediocre quality - roads, railways, ports and other facilities are capable of handling some significant traffic, but not enough to ensure smooth transit at all times.
International broadcast quality is 2.13. It indicates a mediocre performance - the services provided are reasonably attractive to foreign customers, and the price is right up there with the quality, which is still not very competitive.
The competence of logistics service providers is rated at 2.47. The providers are of mediocre competence - they can ensure a certain quality of their services, sometimes even outstanding, although their overall performance can still be deficient in many aspects.
Tracking options for shipments are rated at 2.47. It indicates mediocre performance - the tracking systems provide some information, which usually includes the most necessary subjects, such as the current location of a shipment, the arrival and departure dates and the status of a shipment; however, there is usually a lack of more detailed information on the status and multilingual accessibility options.
Tracking options for shipments are rated at 2.91. This indicates satisfactory performance - most shipments arrive on time and within scheduled time frames; late arrivals are still possible, albeit uncommon.
In Zambia, 22.1% of the population have access to electricity. Zambia has 88 airports nationwide. There are 16,571 internet hosts in Zambia. The number of road motor vehicles per 1000 population in Zambia is 114.
Road network The total road length in Zambia is 40,454 km (25,142 miles). Of these, 0 km (0 miles) of roads are classified as freeways, dual carriageways, or freeways.
Gas price On average, a liter of petrol costs USD 1.68 in Zambia. A liter of diesel would cost $0.67.
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