Lately, we have been hearing a lot about cryptocurrency. What is cryptocurrency? Cryptocurrency is a digital asset designed to work as a medium of exchange using cryptology to secure the transactions and to control the creation of additional units of the currency. ( Andy Greenberg( 20 April 2011). “Cryptocurrency”. Forbes.com.
Cryptocurrencies are classified as a subset of digital currencies, also as a subset of alternative currencies and virtual currencies.
One of the example of cryptocurrency is Bitcoins, invented by Satoshi Nakamoto, is the first cryptocurrency invented.
Malaysia is again proven to be the first few countries in the world trying to “regulate” the digital currency by year end, 2017. In the meantime, the STAR on-line reported that several Singapore banks shut the accounts of several cryptocurrency firms signaling the concerns of banks.
This is a welcome move as the anonymous nature of cryptocurrency transactions has levied concerns of money laundering and tax evasion.
Bank Negara Malaysia Governor Tan Sri Muhammad Ibrahim said the Bank is looking into the cryptocurrency issue seriously as cryptocurrencies and initial coin offering are giving regulators all over the world sleepless nights!
As an example, Bitcoins was trading at US3,985 ( RM16,700) few days ago, down from a high of US4,979 in the beginning of the month.
Probably, this will pave the way for the usher in of the cashless society in the coming days. Already, bitcoin ATM was launched in the US on February 20,2014 and at present, there are already more than 1,500 bitcoin ATMs around the world.
Well, the future is here. Are we living at the dawn of civilization…
Today, I want to touch on some issues affecting our money, namely: Phishing, Ponzi Scheme and Skimming.
Firstly, I will touch on Phishing. What is Phishing? Phishing can be described as– impersonating as a trusted channels in an electronic communication to promote a revelation of personal information.
To avoid been the victim of this practices, Never conduct electronic transaction over Wi-Fi environment. Ensure updating is done via official channels. (Bank never asks for details via e-mail.
Secondly, Ponzi Scheme. What is Ponzi Scheme? It is characterized by a plan that offers high or unrealistic return rates for a small fund investment. Remember the golden rule, if it sounds too good to be true, most likely it is a lie. Deal only with recognized and proven entity. Check with relevant authorities before investing
Thirdly, Skimming. What is Skimming? It is a cloning of the ATM /credit/debit cards. The clone card is later used for other transactions but charged to the cards account. Always be careful when using ATM machines in an area of non-traffic. Ensure no double swipe of the credit card transaction. Check the card statement for any irregularities.
We find that it is getting sophisticated for the fraud to happen in our life time. The reason is that we have lost our values, principles in life because of the Love of Money – greed. People just do not care anymore in this cold world. They just want to be rich at the expense of other. Rather use money and love people, they love money and use people!
Now, we have fake eggs, fake rice, fake medicine, almost everything could be made fake! Now, white is not white, black is not black but it is grey. Good people, they called them bad people; bad people they call them good people.
This is the problem. The solution? Yes, Jesus Christ! He is our only hope. What is He got to do with this thing happening? A lot, in fact ALL! He is going to establish His government on this earth. But before that, the world will be ruled by this Anti-Christ in his New World Order establishment. One world religion, one world politic and one world economy. It is coming, and it is already here…
To recapitulate, yesterday I was using the O.I.L tool to “measure” why certain business success or fail. The question is whether it is valid, effective, efficient and reliable. Before I touch on it further, I would like to ask how many of you have heard about Dr. Neile Martin? Blue Ocean Strategy? Philip Kotler?
Well, maybe yes and maybe no, it does not matter. The objective here is to describe and analyze a number of approaches to formulate and manage marketing strategy
Below are the methodologies in assessing the segmentation variables within an organization:
In the next blog, I will touch on something more simple and fundamental; what is marketing?
We are in the final leg of the world events or they called it the dawn of a new age. Whatever is the development of mankind, we cannot escape the fact that we are entering a new world order, a new mechanics, methodology, prescription, anticipation even a new paradigm of things being orchestrated.
But there is nothing new under the sun.
There is still 24 hours a day, 365 days a year and the earth is still going around the sun. What is that I am trying to say?
Yes, no matter what the world is becoming, principles and truth will be forever standing tall. The characteristics of a successful person, organization remains the same, i.e. honesty, integrity, fairness, equality remains the heartbeat of a person or organization.
There are the foundation and the pillars of strength as well as the catalyst for the engine of growth. No amount of manipulation, scheme and maneuvers can outdo the former. Truth will stands the test of time but lies will soon be exposed.
The lies, slanders will succeed to certain or a large degree but eventually, if we remains to be truthful, we will triumph eventually.
Remember this; tough time cannot rattle us if we remain resilient. As the gold refining process will actually make the gold a better metal, likewise, injustice, slandering, false accusation will make us a stronger and better person not a bitter person.
So, friends, do not slander your competitors, company, products or any other aspect. We should be playing a fair game based on competitive strategies, well- articulated game plan and long-term positioning.
We can outclass our competitions without resorting to unhealthy practice such as corruption which actually adds further cost to our organization.
Even though it is easier say than done, someone has to start the ball rolling, i.e. We ourselves!
Let our organization’s culture be a exemplary for others to emulate and follow not because we want to show off but to create a healthy working environment.
If we take a look at the least corrupted countries in the world, it is basically doing well in their economies and is prospering in the right direction. Denmark, New Zealand, Finland, Sweden, Switzerland are the least corrupted in the world. Out of the worst countries in the survey by Transparency International are from the bottom up: Somalia, South Sudan, North Korea, Syria, Yemen, and Sudan.
Malaysia is ranked at no. 55, nothing to shout about.
This survey was taken for the year 2016( www.transparancy.org/CPI)
Every one of us should do our part, i.e. to fight corruption. It is the society cancerous cell; left unchecked will become epidemic and everyone will eventually lose out.
Thus, the foundational and the basic characteristics mentioned above need to be bind cohesively together to create a synergistic effect that will eventually move the country forward.
Needless to say, all parties need to be educated as Nelson Mandela said, “The best way to change the world is through education”.
In conclusion, we need to work together to provide a platform for this endeavor to materialize.
Cheers to all for a better tomorrow.
In this article, I would like to pen on the Contrarian Time Management. Contrarian Time Management is defined as: devising time management strategies that are the opposite or different from conventional time management that yield the desired result.
There is a misconception that the more time we use to tackle issues at hand is correlate with the productivity produced, i.e. Increased time X work = productivity.
It is not necessary the case. Especially, in the western world, the reverse is true. They value the importance of personal time. The on-going trend is of course flexible hours, work from home, shared responsibility (group effort instead of individual assignment).
Some of the countries which have lower hour of work per week are Germans, Holland, Denmark and French. For example, Germans only work 26.47 hours per week in 2014 according to Fortune magazine.
At the other opposite is Mexico which clock an average of 42.85 hours work a week. The IMF and the World Bank have name Sweden as the world ‘s 11th highest gross domestic product(GDP) per capita, ahead of the said country, Mexico which only comes in at no.62. In Malaysia, many organizations are still practicing a six and a half day work. I want to reiterate that it is not the quantity time but the quality time spent that is more crucial.
There have been many experiments done to demonstrate the above. We need to take interval rest to have maximized productivity.
By eliminating time buffer, we can improve our productivity. We need to evaluate ourselves through the power of O.I.L, an acronym for the power of observation, the power of imagination and the power of logic.
By observing our patterns, we can see whether we are a morning or night person. From there, say we are morning person; we can prioritize our time so as to do the most important things first; bearing in mind we need to utilize another principle, i.e. majoring in the major, not majoring in the minor.
All the above principles and methodology have been proving to be the catalyst for success used by successful people.
There is not just empty rhetoric, but proven principles utilized. Contrarian time management balance between work, recreation and as can be seen in many people lives, thus creating a synergistic effect in different paradigm of importance.
A lot of Malaysian is becoming a workaholic by the emerging organization culture that is destructive and unhealthy. We need to reverse this trend before it is too late. What is the point, when we have a lot of money only to find out that we are using the money to treat our sicknesses?