Author: Louis Li

It establishes a single, immutable ledger accessible to all participants, ensuring a consistent and auditable record whose transparency minimizes disputes and blockchain for payments enables efficient reconciliation. Enterprises can also take advantage of the enhanced security features inherent in blockchain, guarding against fraudulent activities that threaten the integrity of their financial data. Blockchain offers a novel method for charitable donations, promoting transparency, efficiency, and donor trust.

  • Both are needed for a user to view their balance and send and receive crypto transactions.
  • The initial setup costs, including hardware, software, and skilled personnel, can be substantial.
  • Blockchain records and stores data on all manipulations across payment-related documents (invoices, receipts, bills of lading, letters of credit, etc.), including details on document creation, editing, viewing and sharing.
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  • The UK, aspiring to establish itself as a global cryptocurrency hub, successfully incorporated stablecoins into the country’s payments regulation in June 2023.
  • More organizations are focusing on the utility of blockchain to accelerate their business processes, reduce the cost of payment processing, add more security layers, and tackle potential business risks.
  • For example, Ripple, a blockchain payment company, has partnered with over financial institutions, including Santander and American Express, to facilitate faster and more secure cross-border transactions.

Advantages of Using Blockchain for Financial Transactions

A UK-based fintech startup Mercuryo has developed a blockchain payment processing solution that enables businesses and individuals to easily send and receive cross-border payments. The solution supports 50+ cryptocurrencies Non-fungible token and fiat currencies, offers fast processing of international payments, and facilitates traceability of cross-border payment transactions. It provides automated AML/KYC compliance checks and offers prebuilt APIs to integrate with the corporate clients’ systems.

Blockchain for payments: the market state for 2024

Circle Pay blockchain allows for the safe transfer of money between different individuals, currencies and countries. The Circle Pay function is available in over 30 countries and in U.S. dollars, euros and British pounds. Each money transfer or payment is encrypted on a blockchain to ensure a safe transaction. The Circle Pay app acts as a group messaging app with a payment feature integration, so. https://www.xcritical.com/ You can transfer money cross-border and cross-currency in between sending your friends selfies and memes.

Central Bank Digital Currencies (CBDCs)

However, traditional PvP systems are often plagued by inefficiencies, high costs, and settlement risks. Due to the anonymity of bitcoin transactions with the use of addresses, the number of payments is not exact and should be estimated from the type of transaction. We have assumed that any transaction outputs is a payment, apart from one output being the change of the transaction when there is at least 2 outputs.

blockchain for payments

blockchain for payments

Over 175 global payments companies leverage Fireblocks to scale their digital asset operations and quickly enter new markets. From payment orchestration and automated workflows to connecting with on- and off-ramps, Fireblocks delivers a unified digital asset payments solution across blockchains and geos. As mentioned, payment processing efficiency will face several challenges in the blockchain space. Blockchain integration with multiple chains, blockchain compliance, and scalability solutions are just a few of the hurdles to overcome. In the years ahead, digital wallets and payment gateways may increasingly offer “decentralized payments” that occur in the crypto-blockchain space. Already, consumers show an interest in peer-to-peer transactions via mobile devices like Zelle, Venmo, Cash App, and PayPal.

Furthermore, stablecoins can be obtained through bank transfers and used within blockchain ecosystems. Some blockchain projects and fintech companies also work on solutions to bridge the gap between traditional banking and blockchain, enabling direct transfers from bank accounts to blockchain wallets. Thus, while blockchain doesn’t accept bank transfers, these integrations allow seamless transitions between traditional and digital finance. Surely, the biggest slice of that blockchain revenue pie is driven by the hundreds of cryptocurrencies that form the crypto market. On the enterprise level, blockchain provides a robust solution for large-scale financial transactions.

Read on to learn about blockchain in payments and explore the potential benefits it provides. While blockchain technology for payments holds great promise for payments, it’s important to note that there are still challenges to overcome, such as scalability and regulatory considerations. This technology allows users to make anonymous payments and cross-border transfers between jurisdictions. Anonymity allows you to hide the direction of payment and its amount to avoid paying taxes. Crypto blockchain-based payments also provide an opportunity to overcome sanctions regimes.

Plus, blockchain payments aren’t only restricted to cryptocurrency transactions, meaning the technology can support payments from multiple currencies like U.S. dollars, Canadian dollars and more. More organizations are focusing on the utility of blockchain to accelerate their business processes, reduce the cost of payment processing, add more security layers, and tackle potential business risks. Both public-private concerns pay attention to decentralized as it can take their business growth to the mainstream. While implementing blockchain solutions, special attention needs to be given to the regulatory compliance required.

The nonce value is a field in the block header that is changeable, and its value incrementally increases with every mining attempt. If the resulting hash isn’t equal to or less than the target hash, a value of one is added to the nonce, a new hash is generated, and so on. The nonce rolls over about every 4.5 billion attempts (which takes less than one second) and uses another value called the extra nonce as an additional counter.

Consequently, this leaves no room for anyone to engage in corrupt practices or financial mismanagement without detection. Blockchain serves as the foundational technology in crypto payments, playing a vital role in maintaining transactional security and reliability. It applies cryptographic principles to authenticate transactions, embedding an additional layer of trust and integrity within digital payments.

Any attempt to alter a record would be immediately noticeable, safeguarding the data against tampering. Validation and confirmation involve all network nodes coming to a consensus on the transaction’s validity. After consensus is reached, the new block is added to the existing blockchain. Each block contains a unique cryptographic hash and the hash of the previous block, ensuring the chain’s integrity. PvP is crucial in reducing settlement risks, which can lead to significant financial losses and systemic failures.

With the expected growth of the global blockchain market from $27.84 billion in 2024 to $825.93 billion by 2032, the segment of blockchain-based cross-border payments is anticipated to show the corresponding increase. Veem uses blockchain technology to make payments faster and safer than ever before. Countless industries and multiple levels of business leverage blockchain to automate and optimize their processes and operations. GAO recommends Congress consider legislation for federal oversight of nonsecurity crypto asset spot markets and stablecoins.

Bits of data are stored in files known as blocks, and each network node has a replica of the entire database. Security is ensured since the majority of nodes will not accept a change if someone tries to edit or delete an entry in one copy of the ledger. This may not appear to be substantial because we already store lots of information and data.

These instant payment solutions aim to modernize the payment landscape and meet the evolving needs of customers in today’s digital economy. They are based on blockchain technology, a distributed database that records transactions. This makes blockchain payments more secure and transparent than traditional payment methods. Blockchain-based payment solutions can be integrated into point-of-sale systems, allowing merchants to accept cryptocurrency payments directly from customers. Cross-border payment transactions are submitted by the blockchain network members or automatically enforced by smart contracts upon predefined events.

Blockchain plays a significant role in transforming digital payments and financial services. By utilizing decentralized ledgers and smart contracts, blockchain reduces fraud, streamlines cross-border transactions, and enables financial inclusion. However, challenges like scalability and regulatory frameworks must be addressed for its widespread adoption and integration into the financial ecosystem. The future trends include the tokenization of real-world assets and the emergence of CBDC projects across central banks.

We add the words ‘more’ (or ‘less’) earlier than the adjective. Let’s use the one-syllable adjectives ‘quiet’ and ‘small’ as our start line. The comparative types of these words are ‘quiet’ and ‘smaller.’ To make the comparative form of Product Operating Model one-syllable adjectives, we simply must add the suffix ‘-er’. The comparative form of adjectives compares two issues or folks. For example, we will use them to compare two pairs of sneakers, two residences or even our two greatest associates.

Why Is ‘-ed’ Generally Pronounced At The End Of A Word?

A synonym, or word with the identical which means less software, is used within the sentence. To make these guidelines a bit extra digestible (since there are quite a few!), we’ll compare Phoenix, Arizona and New York City. An straightforward approach to keep in mind when to make use of nevertheless is to look at the adverb never, which is used to switch time or information.

General Guidelines For Comparative Adjectives

What is an example of LESS

In English there are various ways to explain rules and obligations. Here is a description of tips on how to express obligation and how and when to make use of modal verbs. Cleaning the floor is my least favorite kind of house responsibilities.

  • We’ve additionally dug deep into totally different comparative adjective examples to practice some of these tricky spelling rules.
  • In an analogous way to comparatives, there are two ways to make use of superlatives.
  • Now that you’ve read about how they work, do this enjoyable quiz to follow.

Words From Taylor Swift Songs (merriam’s Version)

Because Less appears just like CSS, learning it’s a breeze. Less only makes a quantity of convenient additions to the CSS language, which is considered one of the reasons it might be learned so quickly. Create a HTML file named “easy.html”, having the following knowledge. Less is used when talking about issues which might be uncountable or have no plural.

With long adjectives (two or more syllables), we add the words ‘more’ or ‘less’ earlier than the adjective. In an identical approach to comparatives, there are two ways to make use of superlatives. When you want to say that one individual or thing is superior to all others in that group, you should use ‘the most’. When you need to say that one particular person or factor is inferior to all others in that group, you should use ‘the least’. With one-syllable adjectives like ‘large’ and secure,’ we only must add the letter ‘r’ to make the comparative type. In this article, we’ll take a deeper have a glance at the utilization of comparative adjectives and more importantly, the spelling rules for various kinds of comparative adjectives.

You can’t merely demand that a company turn into extra inventive, agile, or product-focused overnight. Culture transformation is a fancy journey requiring a more nuanced method. What does a profitable cultural transformation look like? That’s why we wished to create one thing tangible, something that may be implemented somewhat than just mentioned. As with comparatives, if an adjective ends in a vowel and consonant (e.g. sad) you should double the ultimate consonant.

Can we say that traffic in New York is ‘more terrible’ than visitors in Phoenix? This is because horrible is already an excessive adjective, so something can’t be roughly horrible. Less and least are used for singular nouns, whereas fewer and fewest are used for plural nouns. English lecturers and grammarians will say that “may care much less” is mistaken as a outcome of it ought to mean the other of “could not care less.” Logically, if you may care less, it means you do care some. But in informal speech people typically use “might care much less” to mean they don’t care at all.

Nevertheless is a conjunctive adverb and can be utilized to combine two impartial clauses into one sentence. As of Less three.5, you might also use mixins and rulesets as maps of values. It would not be significant typically – a length multiplied by a size gives an space and css doesn’t assist specifying areas. Less will function on numbers as they’re and assign explicitly stated unit sort to the end result.

The adverbs at the beginning of each compound word additionally offer hints. None in nonetheless is used to describe quantities of one thing, and never in nevertheless modifies details or time. The only one difference is that it is saved with “.less” extension. “Less” is the irregular comparative and “least” is the corresponding superlative. We’ll explain what makes them irregular and how to use these words appropriately. Stack Exchange community consists of 183 Q&A communities including Stack Overflow, the most important, most trusted online community for developers to be taught, share their information, and build their careers.

As grawity’s glorious reply signifies, it’s a means of giving an instruction to the much less pager. In this specific case, using the handbook and tutorial of GNU Parallel, it makes studying the examples easy. As you’ll be able to see in the first instance, if an adjective ends in a vowel and consonant (e.g. big) you have to double the final consonant. Now let’s give consideration to the small print of the way to create each of these adjectives.

What is an example of LESS

Here are four examples of tips on how to use nevertheless in a sentence. Here are 4 examples of how to use nonetheless in a sentence. Nonetheless may also be used to check with a sure quantity of something, which is sensible because it starts with the adverb none, which suggests “no amount” of one thing. Here, we’ll provide you with some recommendations on how to bear in mind the difference between nonetheless and nonetheless in your writing. You can import a .less file, and all the variables in it will be available.

The clue could appear inside the identical sentence as the word to which it refers, or it may comply with in a preceding sentence. Because most of your vocabulary is gained through studying, it’s important that you just have the power to recognize and benefit from context clues. Every transformation is a journey fraught with difficulties. We regularly advise shoppers on the necessity to adapt their constructions, mindsets, and cultures, however we understand that they may be skeptical. There’s nothing more irritating than trying to improve and seeing things get worse. It’s typically easier to revert to acquainted, even ineffective, strategies.We understand that organizational change is a gradual process.

Less refers to a relatively smaller amount, quantity, or degree and can be utilized in this sense as an adverb, adjective, or noun. Less has several other senses as an adverb, adjective, noun, and a preposition. Unfortunately, we can’t use comparatives with all adjectives.

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A few key words I extracted from this article are “sonic meditation”, “listen”, “heal”, and “feminist activism”. “sonic meditation” is an “experiment in self-care” initiated by Oliveros. In this meditation, Oliveros “taught awareness through slow, quotidian movements like sitting, standing, lying, and walking. In meditation, Oliveros asks participants to feel the rhythms of their bodies with the sounds they make, such as the sound of breathing. This kind of meditation is regarded as a “turning of mind and body”. For Oliveros, when “one’s inner experience is made manifest and accepted by others”, healing can occur. She herself would follow this code by sharing her “Sonic Meditations” in print and in performance. Meanwhile, because of the inherently gender-exclusive nature of “sonic meditation,” such practices are seen as a feminist struggle.

For me, there is a controversial point in the article where the author calls “sonic meditation” a “musical experimentation”. A related issue is whether the breathing and the sound made by the gong can be included in the category of music. Beyond that, I think this “quiet activism” of listening is really an action to create a more open and inclusive society. Through such meditation experiments, people can pay more attention to listening. By bringing this habit to life, people can become more attentive to the inner experience of others. For females who lacked voice and attention at that time, this was an innovative and bold attempt to fight for the rise of feminism. But again, who would have thought that feminism would be expressed in such an obscure and seemingly unrelated way?

When I started reading this article, what came to my mind was the concept of program music that I learned in “Introduction to the History of Western Music”. In this context, program music refers to music that carries some extramusical meaning, some “program” of literary idea, legend, and scenic Vivaldi’s “Four Seasons” Violin Concerto, for example, describes the four seasons as indicated in its title. When you listen to “Winter”, you can literally sense the cold wind blowing around you. This is also due to the rapidity of the violin playing in the piece. Anyway, what I want to point out here is that there was this kind of sense of combining music with graphics (scenes) during the classical music period, even though at first the graphics were often abstract and even did not exist in physical form (in people’s imagination).

 

As I read further, I found this interesting quote that says “the point was not to link different arts with one another but to find an appropriate means of expression for a particular idea, to test concepts in another field, or simply to extend one’s own radius of effect”. As we can see from the examples given in the article, the artists are not making cross-disciplinary art for the sake of making cross-disciplinary art. Instead, they conceptualized in their minds what ideas they wanted to realize before making cross-disciplinary art, and then tried to express their ideas in the form of cross-disciplinary art creation. This kind of creation is obviously experimental and highly groundbreaking.

 

At the end of the article, we can see that “the dual profession of artist-musician/musician-artist is no longer anything of note”, rather, “PR strategies demonstrate how an artist or musician’s own cultural product can benefit from the adaptation of the respective other systems”. I’m curious if this being tied up with commercial capital is an indication that the trend of cross-disciplinary art-making has become so popular that people have become accustomed to it, or if it is an indication that it is difficult to make commercial value that people are transitioning to art content that can make money for them.

For me, this project is by far the most challenging one, and again, the one I prepared for most carefully. I must say that I put more effort into making the music than the visual, and I am relatively more satisfied with the music part as well.

For the music part, I used the Lupin III theme as the theme motive. I would consider my musical pattern as=>

Intro

The main part I(with motive)

The Main part II(with buildup+motive)

Bridge(saxophone solo)

End(with buildup+motive)

For the structure of the music, I was inspired by “Theme from Lupin III 2021”.

I would also like to share some details of my music part: First, I used the classic bossa nova drum pattern in the intro and main part I, which contains an eight-beat hihat, a bottom drum, and a side drum. Secondly, I use the hihat in 8 beats as an instrument throughout the song to serve as a link between different parts (I think it works quite well). Thirdly, I deliberately increased the contrast in each part: in some parts, I used multiple fast-paced percussion and heavy metal guitars (namely, the main part II) to create a passionate atmosphere; I only used the piano for the transition between the endings. I hope to use this sense of contrast to describe Lupin’s ups and downs adventure story.

For my visual part, honestly speaking I didn’t study the transition between the images that carefully. The result of this is that while I did make some interesting graphics, there are times when “too many things are happening at the same time”. So if I have more time, I think this will be the part that I want to improve. 

Here is the link to my code: https://github.com/AvatarLouisLi/Live-Coding/tree/main/Composition%20Project

Here is my work:

I chose Motifn as the live coding platform. It is a platform that focuses on creating “visualized “music by utilizing “quite a lot of third parties” like Tone.js and receiving support from live coding artists, namely Alex McLean and Charlie Roberts, the creators of the live coding software Tidal Cycles and Gibberwocky respectively. Later on, I did find that there are quite a lot of similarities between the language used in Motifn and in Tidal Cycles. I guess that’s because after all, they are all created based on JS.

It basically provides two modes for coders to play around with. One is “FUN”, which is to code on the web, and the other one is “DAW”, which is to connect MIDI to play music. I mainly tried the “FUN” mode as it is more convenient (but definitely more risky lol). 

In my exploration, I found that this platform is indeed quite user-friendly as it contains music examples as well as interactive tutorials for coders to self-study. The tutorials not only teach users how to create melody based on notes and rhythms based on using drums but even JavaScript basics. It is definitely very helpful for newbies like me. But still, this is not a highly integrated platform like Garageband on the ios system (I played around quite a lot with it), it still requires users with fundamental knowledge of coding. Nevertheless, I believe that this will not be “live coding” if it doesn’t contain the process for users to code themselves. 

 

The UI is also user-friendly. Users can manually adjust the space of the three sidebars based on their preferences or needs. Here, I really want to point out the note tracks this platform provides, which is absolutely one of its best features. Similar to the tracks in Garage Band, this system also demonstrates the track for each instrument, and users can check each note by clicking on them, and in return, the corresponding code part will also be highlighted by the cursor.

For the practical usage part, I first learned the basic structure of programming on this platform and found that it contains three parts: 1) Define a function (like function song ()), 2) “Let” function for each track (let ss = songStruture ( { ), and 3) return song. Then learned details of how to create melodies, rhythms, and arrange music structure. 

In terms of the content that we can create on this platform, I feel like there are a lot of very interesting effects that we can make, for example, the “ties” and the “vibrato” that can trigger very funny sounds. Although it’s true that this platform doesn’t provide many preset synths for users to choose is also possible to use this platform to create absolutely great pieces if you know quite a lot about composition. Like this one:

And here is a demo I made:

 

 

There are two things in this article that interest me the most, the first one is about the author’s point of “the audience will get bored when listening to one pattern if it lacks development, evolution, and form”, and the second one is about the author’s opinion of “randomness is a relativistic phenomenon”. I would also like to talk about how these two points can be connected to the topic of our course, which is live coding.

The first point I mentioned here resonates strongly with my live performance this week. For this week’s live performance, I decided to do something more like live coding in my opinion, which is typing out codes in a limited amount of time. Obviously, this was a rather unsuccessful strategy, as I was unable to type the codes very quickly. This also made the music I made lack complexity and variation. Compared to my classmates’ work, I think I did get bored when listening to my own work as well. The author also mentions later that “our sense of anticipation grows as we wait for something more, for change, uncertainty, the unpredictable, the resumption of information”. This reminds me of the “?” Aaron mentioned during class, also “# gain (range x x rand)”. These can definitely bring change and uncertainty to the music. However, I believe that it would be unclear whether these changes and uncertainties can bring a good effect to the music itself. It’s true that as live coders, we are supposed to make more random things that contain high improvisational effects, these effects may make the music very noisy and even dissonant. This may be my personal preference, but I still believe that we should add random elements to the music with the aim of just making random things. The addition of these random elements should be based on whether the music itself sounds good.

For the second point, the author explains her point by saying “any signal, no matter how internally consistent or meaningful it is within its own context, may be perceived as random noise relative to some other coherent signal”. I agree with this and this reminds me of comparing math rock with “twinkle star” (which has the exact same rhythm pattern). Obviously, the math rock will be considered “more random” than the latter as its rhythm pattern is unconventional.