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Yes. Start with the following chart.Innovation is neatly correlated with per capita GDP. That is because for innovation to thrive, you need low borrowing costs, a stable and moderately advanced economy where the risk adjusted returns of doing conventional things are low, consumer sophistication to generate demand for better goods and a conducive business environment. You just need to take a walk down  Nanshan's kejiyuan to see how strong China's innovation system is as a subset of it's conventional investment led economy. Consumer sophistication has pushed China's electronics manufacturers to evolve from shanzhai to innovative brands. Chinese firms are investing heavily in R&D. Huawei, Midea, Haier etc compete internationally not on cost but on product quality. The chart also shows you that China is punching way above its weight when it comes to its performance in innovation relative to per capita GDP, that it is already a better innovator than other countries were at a similar level of economic development. Another way to look at innovation in China is to not consider it monolithic. McKinsey identified four key archetypes of innovation and assessed China's performance in each of them. *Revenue share of Chinese companies relative to China's proportion of global GDP. A score more than one shows that the respective cluster of firms have a global share of more than 14 percent. It is clear that Chinese firms have perform really well in efficiency driven and consumer focused innovation. In engineering based innovation, Chinese firms perform well in sectors where government mandated technology transfer helped them in rapid catch up with established players. China lags signNowly in science based innovation. It is perfectly reasonable to make the case that with proper investments and capital accumulation, China will emerge as an innovator in the leagues of say Japan or South Korea in the coming decades. I suggest you read McKinsey Global Institute's China Effect on Global Innovation to read more on innovation in China.The middle income trap is really just a theory based on the growth trajectory of Latin American countries. If you look in disaggregate terms, a lot of areas in China are high income economies. Beijing, Tianjin, Shanghai, Zhejiang and Shenzhen's GDP per capita is more than $22,000. Per capita GDP of Nanshan, Shenzhen's high technology district $49,000, ahead of Hong Kong and several OECD countries. There is no reason to believe that China as a whole will be become stuck in the middle income trap.

The 100 Rules for Being a First-Time EntrepreneurIf you Google “entrepreneur” you get a lot of mindless cliches like “Think Big!” For me, being an “entrepreneur” doesn’t mean starting the next “Faceook”. Or even starting any business at all.It means finding the challenges you have in your life, and determining creative ways to overcome those challenges. However, in this post I focus mostly on the issues that come up when you first start your company. These rules also apply if you are taking an entrepreneurial stance within a much larger company (which all employees should do).Just as good to be an “entreployee” as an “entrepreneur”. Either one will help you survive this world of increased economic uncertainty.For me, I’ve started several businesses.Maybe 17 have failed out of 20. I fail quickly. I fail frequently. Entrepreneurship is a sentence of failures punctuated by brief success.I’m invested in about 28 private companies. I’ve advised probably another 50 private companies. I’m on the board of several private companies and one public company. The companies ranging from $0 in revenues to a billion in revenues.Along the way I’ve compiled a list of rules that have helped me deal with every aspect of being an entrepreneur in business and some in life.Here’s the real rules:A)        It’s not fun. I’m not going to explain why it’s not fun. These are rules. Not theories. I don’t need to prove them.But there’s a strong chance you can hate yourself throughout the process of being an entrepreneur. Keep sharp objects and pills away during your worst moments. And you will have them. If you are an entrepreneur and agree with me, please note this in the comments below.B)        Try not to hire people. You’ll have to hire people to expand your business. But it’s a good discipline to really question if you need each and every hire.C)       Get a customer. This seems obvious. But it’s not. Get a customer before you start your business, if you can.So many people say to me, “I have an idea. Can you introduce me to VCs?”There is a HUGE gap between “idea” and “professional venture capital”.In the middle of that gap is “customer”.D)        If you are offering a service, call it a product.Oracle did it. They claimed they had a database. But if you “bought” their database they would send in a team of consultants to help you “install” the database to fit your needs.In other words, for the first several years of their existence, they claimed to have a product but they really were a consulting company. Don’t forget this story. Products are valued higher than services.And almost EVERY major software product company was a service company in the beginning. Don’t forget that.E)       It’s OK to fail. Start over. Hopefully before you run out of money. Hopefully before you take in investor money. Or, don’t worry about it. Come up with new ideas. Start over.F)         Be profitable. Try to be profitable immediately. This seems obvious but it isn’t. Try not to raise money. That money is expensive.G)        When raising money: if it’s not easy then your idea is probably incapable of raising money. If its easy, then take as much as possible. If its TOO easy, then sell your company (unless you are Twitter, etc).(if its too easy, sell your company)H)        The same goes for selling your company. If it’s not easy, then you need to build more. Then sell. To sell your company, start getting in front of your acquirers a year in advance. Send them monthly updates describing your progress. Then, when they need a company like yours, your company is the first one that comes to mind.Don’t be like that guy in the TV show “Silicon Valley”. If someone offers you ten million for a company that has no revenues, then sell it. Not everything is going to be a Facebook. And even the Google guys tried to sell their company for ONE MILLION DOLLARS to Yahoo before they were revenue positive.SELL THE COMPANY.I)          Competition is good. It turns you into a killer. It helps you judge progress. It shows that other people value the space you are in. Your competitors are also your potential acquirors.J)         Don’t use a PR firm. Except maybe as a secretary. You are the PR for your company. You are your company’s brand. You personally.I’ve never had a good PR company. I’ve had good PR secretaries. But they are cheaper. One time I hired a PR company and they accidentally sent me the contract for Terry Bradshaw. He was paying $10,000 a month. How did they do for him?K)        Communicate with everyone. Employees. Customers. Investors. All the time. Every day.Employees want to know what to do. And they want to know you are thinking of their overall career.Customers want to know how to keep their bosses calm.Investors want to be your friend and want to know they can count on you when time’s are tough.L)         Do everything for your customers. This is very important.Get them girlfriends or boyfriends. Speak at their charities. Visit their parents for Thanksgiving. Help them find other firms to meet their needs. Even introduce them to your competitors if you think a competitor can help them or if you think you are about to be fired. Always think first, “What’s going to make my customer happy?”Note: EVEN if that means introduce them to a competitor. If you are the SOURCE, then everybody comes back to the source.M)        Your customer is not a company. There’s a human there. What will make my human customer happy? Make him laugh. You want your customer to be happy.N)        Show up. Go to breakfast/lunch/dinner with customers. Treat.O)        History. Know the history of your customers in every way. Company history, personal history, marketing history, investing history, etc.P)         Micro-manage software development. Nobody knows your product better than you do. If you aren’t a technical person, learn how to be very specific in your product specification so that your programmers can’t say: “well you didn’t say that!”Q)        Hire local. You need to be able to see and talk to your programmers. Don’t outsource to India. I love India. But I won’t hire programmers from there while I’m living in the US.R)        Sleep. Don’t buy into the 20 hours a day entrepreneur myth. You need to sleep 8 hours a day to have a focused mind.If you are working 20 hours a day, then that means you have flaws in how you are managing your time. You can argue about this but it’s true.S)         Exercise. Same as above. If you are unhealthy, your product will be unhealthy.T)         Emotionally Fit. DON’T have dating problems and software development problems at the same time. VCs will smell this all over you.U)        Pray. You need to. Be grateful where you are. And pray for success. You deserve it. Pray for the success of your customers. Heck, pray for the success of your competitors. The better they do, it means the market is getting bigger. And if one of them breaks out, they can buy you.V)       Buy your employees gifts. Massages. Tickets. Whatever. I always imagined that at the end of each day my young, lesbian employees (for some reason, most employees at my first company were lesbian) would be calling their parents and their mom and dad would ask them: “Hi honey! How was your day today?” And I wanted them to be able to say: “It was the best!” Invite customers to masseuse day. W)       Treat your employees like they are your children. They need boundaries. They need to be told “no!” sometimes. And sometimes you need to hit them in the face (ha ha, just kidding). But within boundaries, let them play.X)        Don’t be greedy pricing your product. If your product is good and you price it cheap, people will buy. Then you can price upgrades, future products, and future services more expensive. Which goes along with the next rule.Y)        Distribution is everything. Branding is everything. Get your name out there, whatever it takes. The best distribution is of course word of mouth, which is why your initial pricing doesn’t matter.Write a blog about your industry and be very honest about all the flaws (even your own) that is currently in your industry.Authenticity is the best branding.Z)         Don’t kill yourself. It’s not worth it. Your employees need you.Your children or future children need you. It seems odd to include this in a post about entrepreneurship but we’re also taking about keeping it real.Most books or “rules” for entrepreneurs talk about things like “think big”, “go after your dreams”. But often dreams turn into nightmares. I’ll repeat it again. Don’t kill yourself. Call me if things get too stressful. Or more importantly, make sure you take proper medicationAA)     Give employees structure. Let each employee know how his or her path to success can be achieved. All of them will either leave you or replace you eventually. That’s OK. Give them the guidelines how that might happen. Tell them how they can get rich by working for you.BB)      Fire employees immediately. If an employee gets “the disease” he needs to be fired. If they ask for more money all the time. If they bad mouth you to other employees. If you even think they are talking behind your back, fire them.The disease has no cure. And it’s very contagious. Show no mercy. Show the employee the door. There are no second chances because the disease is incurable.I don’t say this because I want anyone to be hurt. But if you’ve followed the rules above then you are treating employees well already. NOBODY should spread the disease and badmouth you or your customers.CC)      Make friends with your landlord. If you ever have to sell your company, believe it or not, you are going to need his signature (because there’s going to be a new lease owner)DD)     Only move offices if you are so packed in that employees are sharing desks and there’s no room for people to walk.EE)      Have killer parties. But use your personal money. Not company money. Invite employees, customers, and investors. .FF)       If an employee comes to you crying, close the door or take him or her out of the building. Sit with him until it stops. Listen to what he has to say. If someone is crying then there’s been a major communication breakdown somewhere in the company. Listen to what it is and fix it. Don’t get angry at the culprit’s. Just fix the problem.(you don’t want your employees to be sad.)GG)     At Christmas, donate money to every customer’s favorite charity. But not for investors or employees.HH)     Have lunch with your competitors. Listen and try not to talk. One competitor (Bill Markel from Interactive 8) once told me a story about how the CEO of Toys R Us returned his call. He was telling me this because I never returned Bill’s calls. Ok, Bill, lesson noted.II)        Ask advice a lot. Ask your customers advice on how you can be introduced into other parts of their company. Then they will help you. Because of the next rule…JJ)        Hire your customers. Or not. But always leave open the possibility. Let it always dangle in the air between you and them. They can get rich with you. Maybe. Possibly. If they play along. So play.KK)     On any demo or delivery, do one extra surprise thing that was not expected. Always add bells and whistles that the customer didn’t pay for.This is such an easy way to over deliver I’m surprised people don’t do it 100% of the time. They do it maybe 1% of the time. So this is an easy way to compete and surprise and delight.LL)      Understand the demographic changes that are changing the world. Where are marketing dollars flowing and can you be in the middle. What services do aging baby boomers need? Is the world running out of clean water? Are newspapers going to survive? Etc. Etc. Read every day to understand what is going on.LLa) Don’t go to a lot of parties or “meetups” with other entrepreneurs. Work instead while they are partying.MM)    But, going along with the above rule, don’t listen to the doom and gloomers that are hogging the TV screen trying to tell you the world is over. They just want you to be scared so they can scoop up all the money.NN)     You have no more free time. In your free time you are thinking of new ideas for customers, new ideas for services to offer, new products.OO)     You have no more free time, part 2. In your free time, think of ideas for potential customers. Then send them emails: “I have 10 ideas for you. Would really like to show them to you. I think you will be blown away. Here’s five of them right now.”OOa) Depressions, recessions, don’t matter. There’s $15 trillion in the economy. You’re allowed a piece of it:FedEx, Microsoft, HewlettPackard, and many huge companies were started in recessions or depressions. Leave economics to the academics while they leave good business to you.PP)       Talk. Tell everyone you ever knew  what your company does. Your friends will help you find clients.QQ)     Always take someone with you to a meeting. You’re bad at following up. Because you have no free time. So, if you have another employee. Let them follow up. Plus, they will like to spend time with the boss. You’re going to be a mentor.RR)      If you are consumer focused: your advertisers are your customers. But always be thinking of new services for your consumers. Each new service has to make their life better. People’s lives are better if: they become healthier, richer, or have more sex. “Health” can be broadly defined.SS)       If your customers are advertisers: find sponsorship opportunities for them that drive customers straight into their arms. These are the most lucrative ad deals (see rule above). Ad inventory is a horrible business model. Sponsorships are better. Then you are talking to your customer.TT)      No friction. The harder it is for a consumer to sign up, the less consumers you will have. No confirmation emails, sign up forms, etc. The easier the better.TTA) No fiction, part 2. If you are making a website, have as much content as you can on the front page. You don’t want people to have to click to a second or third page if you can avoid it. Stuff that first page with content. You aren’t Google. (And, 10 Unusual Things You Didn’t Know About Google)UU)     No friction, part 3. Say “yes” to any opportunity that gets you in a room with a big decision maker. Doesn’t matter if it costs you money.VV)     Sell your company two years before you sell it. Get in the offices of the potential buyers of your company and start updating them on your progress every month.  Ask their advice on a regular basis in the guise of just an “industry catch-up”WW)    If you sell your company for stock, sell the stock as soon as you can. If you are selling your company for stock it means:a.         The market is such that lots of companies are being sold for stock.b.         AND, companies are using stock to buy other companies because they value their stock less than they value cash.c.         WHICH MEANS, that when everyone’s lockup period ends, EVERYONE will be selling stock across the country. So sell yours first.XX)     Execution is a dime a dozen. If you have an idea worth pursuing, then just make it. You can build any website for cheap. Hire a programmer and make a demo. Get at least one person to sign up and use your service. If you want to make Facebook pages for plumbers, find one plumber who will give you $10 to make his Facebook page. Just do it.Fail quickly. Good ideas are HARD. It’s execution that is a dime a dozen.YY)     Don’t use a PR firm, part II. Set up a blog. Tell your personal stories (see “33 tips to being a better writer” ). Let the customer know you are human, approachable, and have a real vision as to why they need to use you. Become the voice for your industry, the advocate for your products. If you make skin care products, tell your customers every day how they can be even more beautiful than they currently are and have more sex than they are currently getting. Blog your way to PR success. Be honest and bloody.ZZ)      Don’t save the world. If your product sounds too good to be true, then you are a liar.ZZa) Your company is always for sale.AAA)  Frame the first check. I’m staring at mine right now.BBB)   No free time, part 3. Pick a random customer. Find five ideas for them that have nothing to do with your business. Call them and say, “I’ve been thinking about you. Have you tried this?”CCC)   No resale deals. Nobody cares about reselling your service. Those are always bad deals.DDD)   Your lawyer or accountant is not going to introduce you to any of their other clients. Those meetings are always a waste of time.EEE)    Celebrate every success. Your employees need it. They need a massage also. Get a professional masseuse in every Friday afternoon. Nobody leaves a job where there is a masseuse.FFF)     Sell your first company. I have to repeat this. Don’t take any chances. You don’t need to be Mark Zuckerberg. Sell your first company as quick as you can. You now have money in the bank and a notch on your belt. Make a billion on your next company.Note Mark Cuban’s story. Before he started Broadcast and rode it to a few billion, he sold his first software company for ten million.GGG)   Pay your employees before you pay yourself.HHH)   Give equity to get the first customer. If you have no product yet and no money, then give equity to a good partner in exchange for them being a paying customer.  Note: don’t blindly give equity. If you develop a product that someone asked for, don’t give them equity. Sell it to them. But if you want to get a big distribution partner whose funds can keep you going forever, then give equity to nail the deal.III)       Don’t worry about anyone stealing your ideas. Ideas are worthless anyway. It’s OK to steal something that’s worthless.IIIA) Follow me on twitter.Questions from ReadersQuestion: You say no free time but you also say keep emotionally fit, physically fit, etc. How do I do this if I’m constantly thinking of ideas for old and potential customers?Answer:  It’s not easy or everyone would be rich.Question: if I get really stressed about clients paying, how do I get sleep at night?Answer: medicationQuestion: how do I cold-call clients?Answer: email them. Email 40 of them. It’s OK if only 1 answers. Email 40 a day but make sure you have something of value to offer.Question: how can I find cheap programmers or designers?Answer: if you don’t know any and you want to be cheap: use Hire Freelancers & Find Freelance Jobs Online, Elance, or craigslist. But don’t hire them if they are from another country. You need to communicate with them even if it costs more money.Question: should I hire programmers?Answer: first…freelance. Then hire.Question: what if I build my product but I’m not getting customers?Answer: develop a service loosely based on your product and offer that to customers. But I hope you didn’t make a product without talking to customers to begin with?Question: I have the best idea in the world, but for it to work it requires a lot of people to already be using it. Like Twitter.Answer: if you’re not baked into the Silicon Valley ecosystem,  then find distribution and offer equity if you have to. Zuckerberg had Harvard. MySpace had the fans of all the local bands they set up with MySpace pages. I (in my own small way) had Stock Market - Business News, Market Data, Stock Analysis - TheStreet when I set up Stockpickr! Your Source for Stock Ideas. I also had 10 paying clients when i did my first successful business fulltime.Question: I just lost my biggest customer and now I have to fire people. I’ve never done this before. How do I do it?Answer:  one on meetings. Be Kind. State the facts. Say you have to let people go and that everyone is hurting but you want to keep in touch because they are a great employee. It was an honor to work with them and when business comes back you hope you can convince them come back. Then ask them if they have any questions. Your reputation and the reputation of your company are on the line here. You want to be a good guy. But you want them out of your office within 15 minutes. It’s a termination, not a negotiation. This is one reason why it’s good to start with freelancers.Question: I have a great idea. How do I attract VCs?Answer: build the product. Get a customer. Get money from customer. Get more customers. Build more services in the product. Get VC. Chances are by this point, the VCs are calling you.Question: I want to build a business day trading.Answer: bad ideaQuestion: I want to start a business but don’t know what my passion is:Answer: skip to the post: “How to be the luckiest person alive”. Do the Daily Practice. Within six months your life will be completely different.Question: I want to leave my job but I’m scared.Answer: same as above question.  The Daily Practice turns you into a healthy Idea Machine. Plus luck will flow in from every direction.Final rule: Things change. Every day. The title of this post, for instance, says “100 Rules”. But I gave about 70 rules (including the Q&A). Things change midway through. Be ready for it every day. In fact, every day figure out what you can change just slightly to shake things up and improve your product and company.Your business is not your life. When you start a business you also get a cognitive bias that makes you think your business is GREAT.Every day make sure you are not smoking crack. The most important thing is your health so you can be persistent. If you smoke crack you can die.I hope you succeed. Because I really need that smart toilet that sends my doctors text messages after doing urinalysis on my pee every day.Good luck.

The 21st century is all about technology. With the increasing need for modernization in our day-to-day lives, people are open to accepting new technologies. From using a remote for controlling devices to using voice notes for giving commands; modern technology has made space in our regular lives. Technologies like augmented reality and IoT that have gained pace in the past decade and now there’s a new addition to the pack i.e. Blockchain Technology.Blockchain – The revolutionary technology impacting different industries miraculously was introduced in the markets with its very first modern application Bitcoin. Bitcoin is nothing but a form of digital currency (cryptocurrency) which can be used in the place of fiat money for trading. And the underlying technology behind the success of cryptocurrencies is termed as Blockchain.There’s a common misconception among people that Bitcoin and Blockchain are one and the same, however, that is not the case. Creating cryptocurrencies is one of the applications of Blockchain technology and other than Bitcoin, there are numerous applications that are being developed on the basis of the blockchain technology.What is a Blockchain?In the simplest terms, Blockchain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization. You can also think of it as a chain or records stored in the forms of blocks which are controlled by no single authority. A blockchain is a distributed ledger that is completely open to any and everyone on the network. Once an information is stored on a blockchain, it is extremely difficult to change or alter it.Each transaction on a blockchain is secured with a digital signature that proves its authenticity. Due to the use of encryption and digital signatures, the data stored on the blockchain is tamper-proof and cannot be changed.Blockchain technology allows all the network participants to signNow an agreement, commonly known as consensus. All the data stored on a blockchain is recorded digitally and has a common history which is available for all the network participants. This way, the chances of any fraudulent activity or duplication of transactions is eliminated without the need of a third-party.In order to understand blockchain better, consider an example where you are looking for an option to send some money to your friend who lives in a different location. A general option that you can normally use can be a bank or via a payment transfer application like PayPal or Paytm. This option involves third parties in order to process the transaction due to which an extra amount of your money is deducted as transferring fee. Moreover, in cases like these, you cannot ensure the security of your money as it is highly possible that a hacker might disrupt the network and steal your money. In both the cases, it is the customer who suffers. This is where Blockchain comes in.Instead of using a bank for transferring money, if we use a blockchain in such cases, the process becomes much easier and secure. There is no extra fee involved as the funds are directly processed by you thus, eliminating the need for a third party. Moreover, the blockchain database is decentralized and is not limited to any single location meaning that all the information and records kept on the blockchain are public and decentralized. Since the information is not stored in a single place, there’s no chance of corruption of the information by any hacker.How Does a Blockchain Work?Source: Fuat Şanlı (Dribbble)A blockchain is a chain of blocks that contain data or information. Despite being discovered earlier, the first successful and popular application of the Blockchain technology came into being in the year 2009 by Satoshi Nakamoto. He created the first digital cryptocurrency called Bitcoin through the use of Blockchain technology. Let’s understand how a blockchain actually works.Each block in a blockchain network stores some information along with the hash of its previous block. A hash is a unique mathematical code which belongs to a specific block. If the information inside the block is modified, the hash of the block will be subject to modification too. The connection of blocks through unique hash keys is what makes blockchain secure.While transactions take place on a blockchain, there are nodes on the network that validate these transactions. In Bitcoin blockchain, these nodes are called as miners and they use the concept of proof-of-work in order to process and validate transactions on the network. In order for a transaction to be valid, each block must refer to the hash of its preceding block. The transaction will take place only and only if the hash is correct. If a hacker tries to attack the network and change information of any specific block, the hash attached to the block will also get modified.The bsignNow will be detected as the modified hash will not match with the original one. This ensures that the blockchain is unalterable as if any change which is made to the chain of blocks will be reflected throughout the entire network and will be detected easily.In a nutshell, here’s how blockchain allows transactions to take place:A blockchain network makes use of public and private keys in order to form a digital signature ensuring security and consent.Once the authentication is ensured through these keys, the need for authorization arises.Blockchain allows participants of the network to perform mathematical verifications and signNow a consensus to agree on any particular value.While making a transfer, the sender uses their private key and announces the transaction information over the network. A block is created containing information such as digital signature, timestamp, and the receiver’s public key.This block of information is broadcasted through the network and the validation process starts.Miners all over the network start solving the mathematical puzzle related to the transaction in order to process it. Solving this puzzle requires the miners to invest their computing power.Upon solving the puzzle first, the miner receives rewards in the form of bitcoins. Such kind of problems is referred to as proof-of-work mathematical problems.Once the majority of nodes in the network come to a consensus and agree to a common solution, the block is time stamped and added to the existing blockchain. This block can contain anything from money to data to messages.After the new block is added to the chain, the existing copies of blockchain are updated for all the nodes on the network.Blockchain FeaturesThe following features make the revolutionary technology of blockchain stand out:DecentralisedBlockchains are decentralized in nature meaning that no single person or group holds the authority of the overall network. While everybody in the network has the copy of the distributed ledger with them, no one can modify it on his or her own. This unique feature of blockchain allows transparency and security while giving power to the users.Peer-to-Peer NetworkWith the use of Blockchain, the interaction between two parties through a peer-to-peer model is easily accomplished without the requirement of any third party. Blockchain uses P2P protocol which allows all the network participants to hold an identical copy of transactions, enabling approval through a machine consensus. For example, if you wish to make any transaction from one part of the world to another, you can do that with blockchain all by yourself within a few seconds. Moreover, any interruptions or extra charges will not be deducted in the transfer.ImmutableThe immutability property of a blockchain refers to the fact that any data once written on the blockchain cannot be changed. To understand immutability, consider sending email as an example. Once you send an email to a bunch of people, you cannot take it back. In order to find a way around, you’ll have to ask all the recipients to delete your email which is pretty tedious. This is how immutability works.Once the data has been processed, it cannot be altered or changed. In case of the blockchain, if you try to change the data of one block, you’ll have to change the entire blockchain following it as each block stores the hash of its preceding block. Change in one hash will lead to change in all the following hashes. It is extremely complicated for someone to change all the hashes as it requires a lot of computational power to do so. Hence, the data stored in a blockchain is non-susceptible to alterations or hacker attacks due to immutability.Tamper-ProofWith the property of immutability embedded in blockchains, it becomes easier to detect tampering of any data. Blockchains are considered tamper-proof as any change in even one single block can be detected and addressed smoothly. There are two key ways of detecting tampering namely, hashes and blocks.As described earlier, each hash function associated with a block is unique. You can consider it like a fingerprint of a block. Any change in the data will lead to a change in the hash function. Since the hash function of one block is linked to next block, in order for a hacker to make any changes, he/she will have to change hashes of all the blocks after that block which is quite difficult to do.Types of BlockchainsThough Blockchain has evolved to many levels since inception, there are two broad categories in which blockchains can be classified majorly i.e. Public and Private blockchains.Before heading towards the difference between these two, let’s keep a check on the similarities that both public and private blockchain have:Both Public and Private blockchain have peer-to-peer decentralized networks.All the participants of the network maintain the copy of the shared ledger with them.The network maintains copies of the ledger and synchronizes the latest update with the help of consensus.The rules for immutability and safety of the ledger are decided and applied on the network so as to avoid malicious attacks.Now that we know the similar elements of both these blockchains, let’s learn about each of them in detail and the differences between them.Public Blockchain – As the name suggests, a public blockchain is a permissionless ledger and can be accessed by any and everyone. Anyone with the access to the internet is eligible to download and access it. Moreover, one can also check the overall history of the blockchain along with making any transactions through it. Public blockchains usually reward their network participants for performing the mining process and maintaining the immutability of the ledger. An example of the public blockchain is the Bitcoin Blockchain.Public blockchains allow the communities worldwide to exchange information openly and securely. However, an obvious disadvantage of this type of blockchain is that it can be compromised if the rules around it are not executed strictly. Moreover, the rules decided and applied initially have very little scope of modification in the later stages.Private Blockchain – Contrary to the public blockchain, private blockchains are the ones which are shared only among the trusted participants. The overall control of the network is in the hands of the owners. Moreover, the rules of a private blockchain can be changed according to different levels of permissions, exposure, number of members, authorization etc.Private blockchains can run independently or can be integrated with other blockchains too. These are usually used by enterprises and organizations. Therefore, the level of trust required amongst the participants is higher in private blockchains.Popular Applications of Blockchain TechnologySource: Sumeet – EvontechThough Bitcoins and cryptocurrencies are the first popular application of Blockchain technology, they are not the only ones. The nature of Blockchain technology has led businesses, industries, and entrepreneurs from all around the world to explore the technology’s potential and make revolutionary changes in different sectors.While the basic idea of trustworthy records and giving the power in the hands of users has enormous potential, it sure has raised a lot of hype in the markets too. The magic of this technology sure has the power to transform industries given the usage is planned and executable in actual senses. Let’s separate the wheat from the chaff and find out how Blockchain can be useful in actual implementation.Smart contractsDifferent businesses deal with each other in order to exchange services or products. All the give and take terms and conditions are signed by the involved parties in the form of agreements or contracts. However, these paper-based contracts are prone to errors and frauds which challenges the trust factor between both the parties and raises risks. Blockchain brings forward an amazing solution to this problem through Smart Contracts.Smart contracts perform similar functions as paper-based agreements. The differentiating factor about smart contracts is that these are digital as well as self-executable in nature. Self-executable meaning that when certain conditions in the code of these contracts are met, they are automatically deployed. Ethereum, an open source blockchain platform has introduced smart contracts in the Blockchain ecosystem. Smart contracts can be used for different situations or industries such as financial agreements, health insurances, real estate property documents, crowdfunding etc.For example, Blockchain smart contracts can be used in healthcare to manage drug supply.Once the name and quantity of a drug is shipped from a manufacturing company to be delivered ahead to the pharmacist, a smart contract with all the valid data like the information of the drug, the quantity of supply etc. can be created. This smart contract will be responsible for managing the entries throughout the entire supply chain between different intermediaries. Since the smart contract works on certain defined conditions, no one can alter them or make any changes in the contract thus, ensuring trust and authenticity of the drugs.Government ElectionsNo matter how secure government elections are made, the chances of frauds through anti-social elements always persists. The current voting system relies on manual processing and trust. Even if security bsignNowes and frauds are eliminated, the chances of manual errors cannot be ignored. In such cases, the best solution is to automate the overall process with the help of smart contracts.Blockchain smart contracts provide a modern system through which these common issues can be easily eliminated. Entries in the smart contracts will allow transparency and security while maintaining the privacy of the voters thus, enabling fair elections.Identity managementThe world is getting more digitized with every passing day. Consider financial transactions happening online for instance, you can easily login with your credentials and security pin in order to access your funds. However, in this case, no one can ensure the identity of the person taking out the money. If your username and password are hacked by someone, there’s no way to secure your money.The need of the hour is to have a system that manages individual identification on the web. The distributed ledger technology used in blockchains offers you advanced methods of public-private encryption using which, you can prove your identity and digitize your documents. This unique secure identity can work as a saviour for you while conducting any financial transactions or any online interactions on a shared economy. Moreover, the gap between different government bodies and private organizations can be filled through a universal online identity solution that blockchain can provide.Intellectual Property ProtectionDigital content or information can easily be reproduced and distributed with the aid of the internet. Due to this, people from all around the world hold the power to copy, replicate and use it without giving credits to the actual producer of the content. There are copyright laws to protect such issues but in the current scenario, these laws aren’t appropriately defined according to common global standards. Meaning that any law which is valid in the US might not stand true in Australia.Even if there’s any copyright applied to any intellectual property, people easily lose control over their data and suffer on financial terms. With the aid of Blockchain technology, all the copyrights can be stored in the form of smart contracts which will enable automation in businesses along with the increase in online sale thus, eliminating the redistribution risk.Blockchain for IP registry will help the authors, owners or users to get clarity of copyright. Once they register their work online, they’ll own the evidence which will be tamper-proof. As blockchain is immutable in nature, any entry once stored on the Blockchain cannot be changed or modified. The owner of the work will have the overall authority over the ownership as well as the distribution of the content.ConclusionOther than these few examples, the revolutionary technology of Blockchain holds a high potential of applications in many different industries and sectors. While some industries have already started adopting blockchain in their businesses, many are still exploring the best possible ways to start with.Blockchain is a new name in the world of technologies but it is definitely the one to last. Even in the early stages, the technology has gained huge popularity starting with their very first application of cryptocurrencies. More areas of applications are being discovered and tested with each passing day. Once the technology is adopted and accepted on a global level, it’ll transform the way we live today.

.#Tips, tricks for the question: For SQL Unix interview question preparation which website is best.Below are top 10 hack tips for your job interview, I hope it helps.##TOP 10 HACK TIPS FOR YOUR JOB INTERIVEWS1. Secret weapon: tell your career stories at your job interviewYou’re prepped and ready to totally nail this job interview. You’ve rehearsed your elevator pitch—in front of the mirror, even. You’ve committed the entire job description to memory. Heck, you even drove a practice route to the interview location to make sure you knew exactly where to park.So, when the meeting finally rolls around, you’re feeling cool, calm, and collected. That is, until the interviewer jumps right in with the dreaded, “Tell me about a time when…”Suddenly your mouth is dry, your mind is blank, and you have a mental facepalm moment. Why, oh why, didn’t you think to prepare for these types of prompts?Yes, those requests for real-world examples—also known as behavioral interview questions—are frustrating. But, they’re also an extremely common part of the interview process.Your best bet is to have a few stories prepared and ready to go for your next interview. Here are the six big ones you should make sure to have in your arsenal. They’re general enough that they can be used for a variety of questions, but specific enough that the person asking will feel like he or she’s getting a good, solid, detail-filled response.Related materials:+ Top 10 career stories for your job interviews: 10CareerStories.blogspot . com+ Free ebook 395 interview questions withanswers: InterviewQuestions88 .info/2014/12/free-ebook-395-interview-questions-with-answers-pdf.html2. Know about the company:Spend time to know about the company’s background and various activities of the company. Knowledge about the company will make you look serious for the job. Also if you have time, read about the competitors.Know the basic stats on size and state of the company, and try to develop a view on the top 3 strengths and the top 3 weaknesses/issues the company faces. If you can think through and be prepared to articulate how you can reinforce the strengths and help make progress against the issues, then even better.Pro Tip:• Set up Google News Alerts for the company and industry you are interviewing for. It shall give you timely news alerts and much needed information & talking points! You can also refer to Social media, website, google search etc. to get more information. Also you can search for people/friends on LinkedIn who are already working in the company and talk to them.• Search company on Glassdoor. com. I find that there are typically elements of truth to the themes that surface there, and it is a good way to get a feel for what to expect culturally and again this preparation can help to inform your questions3. Ask questionsYou should always have some questions for your interviewer to demonstrate your interest in the position. Prepare a minimum of five questions, some which will give you more information about the job and some which delve deeper into the culture and goals of the company.Related material:+ Best 12 questions to ask employers: InterviewQuestions66.blogspot. com+ InterviewTips365. info/2014/12/free-ebook-82-secrets-to-win-every-job-interviews-pdf.html4. Make good first impressionsA cardinal rule of interviewing is to be polite and offer warm greetings to everyone you meet from the parking attendant to the receptionist to the hiring manager. Employers often are curious how job applicants treat staff members and your job offer could easily be derailed if you’re rude or arrogant to any of the staff. When it’s time for the interview, keep in mind that first impressions the impression interviewers get in the first few seconds of meeting you can make or break an interview.Remember that having a positive attitude and expressing enthusiasm for the job and employer are vital in the initial stages of the interview; studies show that hiring managers make critical decisions about job applicants in the first 20 minutes of the interview.Related material:+ Top 35 tips to prepare for your job interview: 35JobInterviewTips.blogspot .com5. Structure your answerMost people see a job interview as a passive experience where they answer questions and are confident of securing the job if they answer the questions asked correctly. Rather, see an interview as an opportunity to answer or respond to questions following a guide or plan on the subject of interest. Your answers should emphasize how your skills will be of relevance to the company. To improve how to answer questions in the interview, draft 5 points and have both short and long answers to each point. Nevertheless, you are required to pay attention or listen carefully during the interview. Ensure you carry out proper research on the company before an interview to enable you to prepare appropriately for questions the interview is likely to ask.Related material:+ Top 42 common interview questions withanswers: 42InterviewQuestionsWithAnswers.blogspot .com6. Bring examples of your workI have been called several times by hiring managers who expressed their delight at some of my candidates who came to the interview session with samples of their work. You also have the opportunity to do this. Make the most of printed words, it shows how prepared you are and this alone might just set you apart from other candidates. Idea: Some candidates take a copy of their most recent written review to the interview. Obviously, you should only do this if your evaluation is outstanding. Perhaps you could come with a graph or a chat that illustrates the actions you took that saved your old company some money or even how you improved their business.Always couch your examples with the following line of logic:• This was the situation at the time.• This is what I did to remedy the situation.• My actions yielded these results.7. Clarify your "selling points" and the reasons you want the job.Prepare to go into every interview with three to five key selling points in mind, such as what makes you the best candidate for the position. Have an example of each selling point prepared ("I have good communication skills. For example, I persuaded an entire group to ..."). And be prepared to tell the interviewer why you want that job – including what interests you about it, what rewards it offers that you find valuable, and what abilities it requires that you possess. If an interviewer doesn't think you're really, really interested in the job, he or she won't give you an offer – no matter how good you are!8. Dress for SuccessPlan out a wardrobe that fits the organization and its culture, striving for the most professional appearance you can accomplish. Remember that it’s always better to be overdressed than under and to wear clothing that fits and is clean and pressed. Keep accessories and jewelry to a minimum. Try not to smoke or eat right before the interview and if possible, brush your teeth or use mouthwash.9. Practice, practice, practice.It's one thing to come prepared with a mental answer to a question like, "Why should we hire you?" It's another challenge entirely to say it out loud in a confident and convincing way. The first time you try it, you'll sound garbled and confused, no matter how clear your thoughts are in your own mind! Do it another 10 times, and you'll sound a lot smoother and more articulate.But you shouldn't do your practicing when you're "on stage" with a recruiter; rehearse before you go to the interview. The best way to rehearse? Get two friends and practice interviewing each other in a "round robin": one person acts as the observer and the "interviewee" gets feedback from both the observer and the "interviewer." Go for four or five rounds, switching roles as you go. Another idea (but definitely second-best) is to tape record your answer and then play it back to see where you need to improve. Whatever you do, make sure your practice consists of speaking aloud. Rehearsing your answer in your mind won't cut it.10. Thank Interviewer(s) in Person, by Email, or Postal MailCommon courtesy and politeness go far in interviewing; thus, the importance of thanking each person who interviews you should come as no surprise. Start the process while at the interview, thanking each person who interviewed you before you leave. Writing thank-you emails or notes shortly after the interview will not get you the job offer, but doing so will certainly give you an edge over any of the other finalists who didn’t bother to send thank-you notes.If you have any questions, pls leave your comment below.