What if we tell you that keeping your cryptocurrencies safe is not as complicated as you might think it is? 

To answer this, we created an easy-to-read article, which includes the definition of a seed phrase, how it looks, what’s the difference between public and private keys, what kind of wallets have a seed phrase, how to generate one, and most importantly, why you should keep a watchful eye on it.

We’re going to start with a very well-known saying: Not your keys, not your coins. We follow this motto, and you should, too. To explain this in just a few words, we advise you to hold a non-custodial wallet, so that you hold a pair of private and public keys, a seed phrase, and can access your funds anywhere and make whichever transactions you want, but with a very important note: you have full responsibility of your wallet.

As there are still a lot of people who keep their assets in a custodial hot wallet, on crypto exchanges that are third-party custody, we strongly suggest you should move to a non-custodial one and mind only one thing: keeping your seed phrase safe. We’re going to show you below how to properly do that, so let’s dive in!

What’s a seed phrase?

You might have seen several names for it. 

Seed Phrase = Secret Phrase = Secret Key = Recovery Phrase = Backup Phrase = Crypto Seed = Mnemonic phrase = Mnemonic sentence

Cool, right?

If the above names are not enough, you can also call it the “Master Password” for all crypto accounts you own. Typically, it’s a set of 12 to 24 words long, depending on the wallet provider. This sequence of random words is generated when a wallet is created. After that, it serves as the key to your wallet and proof of ownership for the assets. You will only use it later in case you want to restore your crypto wallet, if you lose it or it’s stolen, allowing you to regain access to your funds. It’s the only backup you have in that bad scenario. This is why it’s so important to keep it safe and secure.

Even if the "mnemonic" word implies that the phrase should be memorized, we recommend you not to. Your memory, even if you think it’s super strong, should not be in charge of such responsibility. It’s a gamble, and it’s risky to memorize the seed phrase. The decision about the way you store it should be carefully thought ahead.

How does a seed phrase look?

Seed phrases are long strings consisting of groups of random 12-24 words. The order of the words is very important because mixing the words would give another seed phrase. The phrase is usually generated by the wallet software automatically, so you can’t customize it. 

These words are taken from the Bitcoin Improvement Proposal 39 (BIP39) list, which contains 2048 unique words. To avoid mistakes, similar words will not be included in the same seed phrase. 

A Seed phrase is an easier way to convey a complex number from the private key, expressed in simple, readable words. Each word represents a series of bits from the private key.

BIP39 List

BIP39 (Bitcoin Improvement Proposals) describes the implementation of a mnemonic code or mnemonic sentence, a group of easy-to-remember words, for the generation of deterministic wallets. It consists of two parts: generating the mnemonic and converting it into a binary seed. This seed can be later used to generate deterministic wallets using BIP-0032 or similar methods.

The list has 2048 words that can be used to create seed phrases. The modern wallets generate seed phrases drawn from this 2048-word list. At this point, you may wonder: But how safe are these 2048 words? Are they enough? Isn’t it easy to guess a seed phrase with only 12/24 words from this list? So here’s how it goes: even if 2048 words might seem like a small number, it’s not. It’s impossible to guess the sequence of words from a seed phrase. There are more than a decillion (2048 to the power of 12) word combinations for a seed phrase. Take that worry off the list. 

Seed phrase vs Private key

Because both Seed Phrase and Private Key are ways to access a cryptocurrency wallet, they are often seen as the same thing. Despite being related to each other, there is a difference between a Seed Phrase and a Private Key. Let’s see!

A Private Key is a long string of characters (letters and numbers) used for transacting cryptocurrencies and proving ownership of the funds in a wallet. When exporting a private key, you gain access to the assets in that specific wallet. 

You can create multiple deposit addresses (i.e. private keys) using the same seed phrase. By exporting your seed phrase, you will be able to access all wallets with the same seed phrase (each with its own separate private key). Due to its length and difficulty in reading and remembering, you don't usually handle your private key directly. So, public keys are encoded in the form of a seed phrase.

What kind of wallet has a seed phrase?

There are 2 types of wallets: custodial and non-custodial wallets. We made a really in-depth analysis in a previous article: Custodial & Non-Custodial Wallets. If you choose a centralized exchange like Binance or Coinbase, you don’t need to have a seed phrase. That’s because your assets are in the custody of the exchange (hence the name of the custodial wallet). You actually don’t have full control of your funds, in this case. All of your private and public keys are generated and stored on your wallet app, by a third party. You can't access them in any way. 

But in case you opted for a non-custodial wallet where you are given full control and ownership of your funds, you will also have a seed phrase for it.

How to generate a seed phrase

Most crypto wallets automatically generate a seed phrase when you set them up for the first time. So, if you hold a Ledger, it will generate the seed phrase of your wallet. If you set up a wallet in an app like Maiar App (soon to be XPortal), this will generate your seed phrase. There aren’t other chances available, because the process is automatic. 

So you can't really manually generate the secret phrase for any hardware wallet, nor for most software ones, at the moment it is initiated. Using pseudo-random words for the seed phrase of a hardware or software wallet could be possible, but it’s tricky. However, your wallet might not accept it if the last word is a checksum and you don't know how to calculate it.

If you are curious about how a seed phrase is generated, let us tell you the process!

  1. At first, you need to generate entropy, which gives the source of randomness. This entropy is actually a very large number, a series of bits. It has to be a multiple of 32 bits, somewhere between 128 and 256 bits.
  2. Secondly, you encode the entropy in a mnemonic. After adding a checksum, 1 bit is taken for every 32 bits and it’s added at the end. Then, you split the number into groups of 11 bits that are converted from base 2 to base 10 (that is, in the numbers that we humans understand) and these numbers will correspond with the words in the BIP39 list.
  3. The last step is converting the mnemonic into a seed. The backup phrase obtained above is passed through a PBKDF2 function which hashes it several times until a final result of 64 bytes (512 bits) is obtained - hexadecimal. This is the seed that produces a Master Extended Key for a deterministic hierarchical wallet.

What happens if someone has my seed phrase / if I lose it?

It’s simple and heartbreaking. You are in danger of not owning your assets anymore. 

In the first case, when someone has your seed phrase, he can access your wallet with it. If it has access to your wallet, it could also do anything with the funds. So he could transfer all of them to his wallet and steal your money. It’s that easy to understand. This is why you should absolutely protect and store well your seed phrase.

If you lose it but didn’t give access to anyone else, it’s still bad news. Usually, you can’t do anything about it.

There is a way, though. If you've lost your seed phrase for your MultiversX blockchain wallet, you can still access it if you use the web wallet, with the json file. So make sure you keep that in a known folder, in case you need access. So if you don’t have your seed phrase anymore, but still have the json file, you can access the wallet. After that, make sure you transfer the funds to another wallet of your own. And protect that wallet’s seed phrase. If you only use the Maiar App and not the web wallet, you'll need to have previously entered your seed phrase in the web wallet, in order to recover your wallet. 

What is the best way to keep safe a seed phrase?

At the moment you set up your wallet and your seed phrase is generated, you have 2 options. Either you have to note down the 12/24 words and store them well, or it’s encrypted in your cloud. For example, Maiar App offers you the possibility to make a backup of your seed phrase in your Drive. Even if it’s online, the fact that it’s encrypted makes it safe. You will have to set a password for the encrypted file, so it’s your mission to keep that one safe. 

On the other hand, Ledger will ask you to note down one word at a time. Ledger also has some papers in its package for this purpose. After you note down all the words on the paper, it’s your final mission to keep them safe. What’s the best way to do that? You know we’ll say this - Kryptodots! If you haven’t heard of it, you should know Kryptodots is a device. Not an electronic one, but a very solid one made of stainless steel. Its scope is to protect your secret phrase - therefore, your digital assets. 

Now comes the interesting part… your secret phrase’s 24 words - or 12, by case, can be converted into dots, using a bip39 word list. After that, you mark the dots on the plate, following the instructions you find within the Kryptodots kit.

What’s neater about this product is that you can apply any scrambling/encoding algorithm you can think of to the passphrase, so only you know how to extract the information.

So, to sum up, Kryptodots is the best way to ENCODE, STORE, and PROTECT your digital assets. The only reasonable alternative to the Kryptodots is a piece of paper. But we all can imagine its weaknesses. It can easily degrade, catch fire, or get wet and become useless. And it’s not just that. Let’s say you choose to make a laminated paper that's impermeable. It’s true, you get a higher level of protection, but not the best one. It still can burn easily and also your words wouldn’t be encoded. Owning a Kryptodots assures you of this protection, too.

What NOT to do with a seed phrase?

Clearly, you should not give it to anyone. Even if you have a problem and need help from someone, you should still NOT share your seed phrase. There are many scams in crypto around this issue. 

Secondly, you should never store it somewhere digitally. That means you must assure you don’t make screenshots of it, note it in Notes or any other app. Also, don’t keep it in your gallery, and don’t take photos or videos with it. Keep it only offline, away from digital “view”. 

And even offline, we advise you not to keep it in only one place, just in case. Don’t just write it down on a piece of paper and put it in an insecure location. 

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Now you know why you should protect your seed phrase so well. So keep this in mind: Always back up your Secret Phrase in a safe offline place. Your seed phrase is the key to your wallet. Make your journey in the DeFi universe a safe one!

Spațiul cripto se extinde pe zi ce trece. Noii veniți ori încearcă să înțeleagă cum funcționează blockchain-ul, ori vor doar să investească în criptomonede. Chiar dacă atât tehnologia, cât și activele digitale au un potențial enorm de a schimba lumea pe care o cunoaștem astăzi, există și un punct vulnerabil în tot acest ecosistem, în special pentru începători. Ghicești la ce ne referim?

Așa-i! Vorbim despre scammeri (în traducere liberă escroci)! Dar cum pot aceștia să afecteze călătoria oamenilor în spațiul cripto, mai ales la început? Hai să vedem! 👇🏼

Începător în spațiul cripto

Dar să începem cu începutul! Din exterior, spațiul cripto s-ar putea să nu arate chiar așa bine pentru toată lumea, mai ales într-un bear market. Există oameni care nu înțeleg importanța criptomonedelor și a tehnologiei blockchain. Deci, dintr-un punct de vedere total subiectiv, ei susțin că universul cripto nu este altceva decât o înșelătorie. Din fericire, nu este adevărat.

Hai să clarificăm.

Dacă ești nou în spațiul cripto, știm că s-ar putea să te simți copleșit. Dar ține minte că e foarte important să-ți faci propria cercetare (DYOR). Într-adevăr, există o mulțime de informații de asimilat: termeni, strategii, recomandări și o mulțime de articole educative. Te poți pierde prin toate astea încercând să înțelegi cum stau lucrurile.

În plus, spațiul cripto a și arătat destul de sumbru în ultima vreme. Colapsul FTX de la începutul lunii noiembrie este în top și a avut un impact negativ pentru mulți alți actori din industrie. Această criză a venit într-un mediu macroeconomic deja instabil, așa că nu a făcut decât să accelereze căderea. Dar ceea, ce vrem noi să transmitem în acest moment este următorul lucru: indiferent de cum arată piața într-un anumit moment, întotdeauna trebuie să ai conduită, disciplină și prudență în lumea cripto.

Nu îți vom oferi niciun sfat financiar și nu îți vom vorbi despre investiții sau trading. Suntem aici pentru a-ți arăta cele mai comune tipuri de escroci și cum să stai departe de aceștia, indiferent de proiectul în care ești implicat.

Ca să nu mai vorbim de faptul că te sfătuim oricum să deții un portofel non-custodial și să-ți asumi întreaga responsabilitate pentru activele tale digitale. Acest lucru, desigur, implică să nu împărtășești fraza secretă cu nimeni altcineva.

Ok, acum că am clarificat asta chiar de la început, putem analiza lucrurile mai în profunzime. Să vedem cele mai frecvente escrocherii și cum să le eviți!

Cele mai frecvente scam-uri (escrocherii)

Oamenii sunt creativi, putem fi siguri de asta. Nici escrocii nu sunt mai prejos. În zilele noastre, există mai multe moduri de înșelătorii în spațiul cripto, în special pentru începători. Și asta nu pentru că este ceva în neregulă cu aceștia, ci pentru că există încă destul de puține lucruri cunoscute în spațiul cripto, în special la început. Escrocii dau mari speranțe, mai ales în câștiguri de sume mari. Ofertele lor sunt de cele mai multe ori tentante. Deci, hai să vedem cele mai frecvente escrocherii și semnele pe care ar trebui să știi.

🚩 Uzurparea identității

Escrocii creează conturi de rețele sociale false pretinzând că sunt persoane publice importante, moderatori ai anumitor comunități, admini sau membri ai unor echipe. După aceea, trimit mesaje private cu tot felul de promisiuni. Le este mai ușor oamenilor să cadă în capcană atunci când văd un mesaj de la o persoană publică cunoscută, fără să se gândească la faptul că e posibil să fie doar niște escroci. De reținut că adminii sau membrii echipelor nu vor contacta niciodată oamenii prin mesaje private.

🚩 Scheme de investiții și giveaway-uri false

Indiferent dacă escrocii se dau drept o persoană publică sau nu, promit câștiguri mari după ce tu faci o plată în avans sau plătești o taxă. Fii sigur că îți va fura banii și nu vei mai auzi niciodată de ei. Acesta este unul dintre cele mai comune tipuri de escrocherii.

Lansările sau giveaway-urile neobișnuite sunt mai mult ca sigur înșelătorii, mai ales dacă îți solicită o plată în avans pentru a putea participa. Mai mult, este o practică foarte comună ca escrocii să promită că-ți vor multiplica investiția. Alți escroci se grăbesc frecvent să comenteze că au participat deja în acest fel și au câștigat o sumă imensă de bani. Nu uita: nimeni nu-ți va înmulți investiția și ți-o va oferi înapoi, oricât de convingător pare să fie!

🚩 Scheme Rug pull

Când ceva pare să fie prea frumos ca să fie adevărat, de obicei așa e. 🙂 În acest tip de înșelătorie, creatorii pompează un nou proiect, monedă, token sau NFT cu multă publicitate. După ce obțin destui investitori, schimbă criptomonedele în fiat și în cele din urmă fug cu banii. Una dintre cele mai cunoscute scheme de tip Rug pull a fost scamul monedei Squid.

🚩 Scheme Pump and Dump (P&D) 

Escrocii creează FOMO pe un anumit proiect sau monedă, chiar dacă este ceva obscur. Se pot asocia cu „influenceri” care trăiesc în lux și vând imaginea unei vieți pe care și tu ai putea s-o ai dacă investești în proiectul lor.

Scopul lor este de a construi o comunitate mare care poate investi într-o anumită monedă, dar doar în anumite momente menționate de ei. Membrii comunității sunt invitați să investească cât de rapid și de mult pot, atunci când moneda este la un preț mic. După ce moneda va fi pompată artificial și va atinge o valoare mai mare, comunitatea ar putea vinde moneda și obține un „profit frumos”. Moderatorii acestei scheme orchestrează momentele în care oamenii pot cumpăra și vinde moneda. Dar, desigur, doar câțiva reușesc să vândă la prețuri mari în câteva secunde și sunt în mare parte tot moderatorii acestei scheme.

🚩 Scheme Ponzi 

Sunt niște scheme frauduloase. Pe scurt, primii investitorii primesc profit datorită investițiilor celor ulteriori. Și povestea continuă. Poate fi o schemă complicată și periculoasă deoarece pare destul de durabilă până când… explodează. Acesta este motivul pentru care ar trebui să-ți faci propriul research (DYOR)!

🚩 Scam-uri romantice

Oricât de ciudat ar fi, este o practică comună pentru escroci. Odată cu integrarea digitalului în viața noastră de zi cu zi, relațiile online sunt și ele mai frecvente. Așa că escrocii folosesc oportunitatea asta pentru a crea relații false și pentru a manipula oameni. În cele din urmă, își conving partenerii să le trimită bani sub formă de criptomonede.

🚩 Site-uri de tip phishing 

Sunt site-uri false. Escrocii ademenesc oamenii să dea click pe linkuri rău intenționate către aceste site-uri web. Ulterior, adună informațiile tale personale, cum ar fi numele, e-mailul, adresa etc. prin mai multe strategii de înșelătorie, cum ar fi „Trebuie să resetați parola contului”.

Scopul lor final este să obțină informațiile cheie ale portofelului tău - indiferent dacă ai un portofel custodial într-un exchange sau unul non custodial și nu ai stocat în siguranță fraza secretă. Fii întotdeauna extrem de vigilent împotriva acestui tip de înșelătorie. Nicio companie nu-ți va cere să resetezi parola, decât dacă tu soliciți asta. De asemenea, niciun admin sau platformă nu va avea nevoie de fraza secretă a portofelului tău. Ea e menită să rămână doar la tine, așa că NU TRIMITE NICIODATĂ NIMĂNUI FRAZA TA SECRETĂ.

Cum să eviți scammerii din crypto?

💡 Fii vigilent

Așa cum am mai spus, dacă ceva sună prea bine pentru a fi adevărat, cel mai probabil NU este! Indiferent de tipul de înșelătorie pe care scammerii l-ar alege, tu trebuie să fii în alertă  tot timpul. Verifică fiecare detaliu și ia în considerare orice semn ce ar putea duce la un scam. Gândește-te de două ori înainte de a-ți trimite informațiile personale cuiva. În Universul Crypto trebuie să fii foarte vigilent.

💡 Pune-ți întrebări relevante

De ce ți-ar face promisiuni unii oameni pe care nu îi cunoști? Ce câștigă ei? De ce te-ar ajuta atât de ușor cu ceva? De ce ți-ar pune atâtea întrebări? Ce pot face ei cu informațiile contului tău? Cum le pot folosi? Când ai îndoieli, este important să-ți pui câteva întrebări pentru a clarifica o situație.

💡 Nu te încrede într-un „admin” care îți scrie primul un mesaj

În majoritatea cazurilor (să spunem 99,9%), dacă cineva îți trimite primul un mesaj, nu este un admin, indiferent de numele pe care pare să-l aibă la profil. Este doar cineva care fură identitatea unui admin și vrea să te ademenească în schema lui. Toată lumea știe că adminii nu vor trimite ei mai întâi un mesaj. Așa că acordă întotdeauna atenție acestui detaliu.

💡 Nu da click pe link-uri suspecte

Dacă primești invitația de a da click pe un anumit website, trebuie să verifici întotdeauna în prealabil că adresa URL a site-ului este exact aceeași cu adresa oficială a platformei. Într-un scam sunt de cele mai multe ori aproape la fel, dar nu în totalitate.

De asemenea, verifică adresa de e-mail a expeditorului sau contul de social media, în funcție de platforma pe care te-a contactat. Și dacă totuși dai click pe un link suspect din greșeală, trebuie să eviți distribuirea informațiilor personale. Cineva îți poate înregistra detaliile de conectare și îți poate fura, în cele din urmă, fondurile. În plus, asigură-te că nu îți conectezi portofelul digital nicăieri până când nu verifici cu atenție site-ul.

Chiar dacă nu primești un link suspect de la cineva și vrei doar să accesezi un site sau un exchange, te sfătuim insistent să mergi întotdeauna direct pe site-ul respectiv, pentru a te feri de escrocherii de tip phishing. Cum poți face asta? De exemplu, poți face un marcaj în bookmarks cu pagina exchange-ului sau poți salva linkul în notițe și îl accesezi de fiecare dată când ai nevoie.

💡 Nu te aștepta să îți înmulțească cineva banii 

„Îmbogățește-te rapid cu …” ar putea fi motto-ul escrocului, dar nu ar trebui să-l crezi niciodată. Fii cu băgare de seamă, oportunitățile de acest gen nu sunt reale, deci nu sunt realizabile decât într-un scenariu ce implică fraudă. Există totuși o șansă de a-ți „multiplica” fondurile rapid în cazul în care faci trading. Dar dacă cineva îți promite că-ți va înmulți investiția, fii sigur că ești vizat de un escroc.

💡 Raportează scammerii 

Dacă trimiți cuiva criptomonedele tale sau le pierzi, este foarte puțin probabil să le mai recuperezi. Dar ce poți face este să raportezi escrocii la Centrul de asistență, dar poți raporta conturile scammerilor și pe platformele de social media unde îi întâlnești (Facebook, Twitter, Youtube etc). Pe Telegram, îi poți raporta la @notoscam. În ecosistemul MultiversX, poți raporta escrocii pe grupul de Telegram @ElrondScambusters.

💡 Oprește mesajele private de la necunoscuți pe Telegram & Discord

Telegram și Discord sunt platformele unde vei găsi cu ușurință escroci. Sau... te vor găsi ei pe tine. 🙂 Fiind hub-uri pentru mai multe comunități cripto, aceste platforme sunt adesea vizate de persoane frauduloase. Se întâmplă adesea ca oamenii să fie abordați de scammeri în mesaje private, mai ales după ce au avut o conversație într-un grup. Ce poți face pe Discord este să dezactivezi mesajele private de la persoane necunoscute. Pe Telegram, ai opțiunea de a actualiza setările pentru a preveni apelurile aleatorii și invitațiile de adăugare în anumite grupuri.

💡 Păstrează-ți fraza secretă într-un loc sigur

Și când spunem asta, ne referim la o locație offline, pe care doar tu o știi. Îți dăm un sfat: Kryptodots este cea mai bună modalitate de a codifica, stoca și proteja activele digitale. Kryptodots este un dispozitiv offline fabricat din oțel inoxidabil. Scopul său este de a proteja fraza secretă, prin urmare, și criptomonedele tale.

Singura alternativă rezonabilă la Kryptodots este hârtia. Dar cu toții ne putem imagina vulnerabilitatea ei. Se poate degrada cu ușurință, poate lua foc sau se poate uda și deveni astfel inutilă. Și nu e doar asta. Să presupunem că alegi să laminezi hârtia pe care ți-ai notat fraza secretă. Este adevărat, obții un nivel mai ridicat de protecție, fiind impermeabilă, dar nu cel mai bun. Încă poate arde cu ușurință și, în plus, cuvintele tale nu vor fi codificate. Deținerea unui Kryptodots te asigură și de această protecție.

💡 Nu da fraza secretă nimănui

O fi acesta ultimul punct de pe lista noastră, dar cu siguranță este unul dintre cele mai importante. Fraza secretă a portofelului tău este unică, deci joacă rolul unei chei pentru portofelul tău. Dacă fraza ta secretă n-ar mai fi secretă pentru cineva, acesta ar avea acces și la portofelul tău, deci banii tăi ar fi compromiși.

Fraza secretă este și modul de recuperare a unui portofel. Dacă ți se strică calculatorul, hard diskul este corupt sau dacă pierzi Ledgerul (portofelul hardware), poț descărca din nou același portofel software sau poți cumpăra un alt portofel hardware și utiliza copia de rezervă a frazei secrete pentru a recăpăta accesul la portofel. În afară de acest caz, nu va trebui să introduci fraza în nicun alt loc. Dacă cineva ți-o cere, este un scam. Nu o da mai departe, și asigură-te că raportezi persoana respectivă.

Amintește-ți că, atât timp cât nu dai nimănui fraza secretă, activele tale digitale sunt în siguranță.

Even though it is mainly associated with cryptocurrencies and the financial area, blockchain technology has vast applications. Each industry has fields and areas where you can make operations easier, faster, and safer using the blockchain. Top of mind, here are some areas where blockchain technology can be implemented to solve pain points.

First, we will briefly explain what blockchain is. The explanation is concise and intended mainly for beginners. If you already know the basics, skip to the next section of the article: How will blockchain shape the future?

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What is blockchain?

Blockchain is a database. Like a massive “book” in which all information is written in chronological order. Once written, the data cannot be deleted. And you can no longer add a piece of information that you forgot a few pages ago. New data is added in continuation of what is already written. This feature of the blockchain is called immutability.

Each piece of info in this book is first validated by 51% of the participants in the network. It’s called the consensus mechanism. If everyone says "Yes, the information is correct, we validate it!" then it is recorded in the book. Ok, and who are the network participants who have the right to vote? The computers! It can be my computer, yours, or everyone's!

It gets more interesting! Every computer from the network has a copy of this “book” in which it writes down the same information at the same time. Thus, our computers become Nodes of the network, meaning that they validate everything that happens in the blockchain network and write it down in the ledger. So the blockchain is a huge network of computers. Like an active and decentralized spider web.

For example: if we make a transaction in the blockchain, that is, I send you 1 Bitcoin, all the computers in the network know that I sent you 1 Bitcoin, and every computer has already noted the transaction. The good thing is that no one can lie about the transaction, because all these computers have already written the transaction. In many ways, blockchain technology is similar to Internet technology, but much cooler.

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How will blockchain shape the future?

We live in the digital era. This is the era of many opportunities, high-speed technological advancement, and many discoveries, of which, blockchain is perhaps the most important recent one.

Let's see precisely the areas in which blockchain technology can be implemented and what problems it can solve.

The financial and economic segment 

Due to the fact that the information in the blockchain is transparent, the system is safe. This excludes illegal transactions, fraud, and other malicious acts, which can occur in an outdated financial system. Additionally, the speed of the transactions is higher than in today's financial institutions. Transactions happen instantly most of the time and with minimal costs.

The medical industry 

Blockchain enables the processing and storage of all patient information. This is a great solution for medical records loss and fragmented patient histories in several systems. Blockchain can reduce the amount of medical practice and monitoring by 2 times, saving both time and resources for both doctors and patients. The technology can effectively improve the condition of patients at a much lower cost. It eliminates all hurdles and barriers to multi-level authentication, such as incomplete point-of-care records and difficult access to patient health information, in a secure and pseudo-anonymous way.

Blockchain allows patients to share information, provide access to their own data, and invoke a smart contract for automatic payments for their medical claims. It is important to note that blockchain guarantees the confidentiality of patient records. Furthermore, while Blockchain is visible, it is also private, hiding the identity of any individual behind complicated and secure algorithms that can preserve the sensitivity of medical data. The patient will be able to track where the information they share goes in the blockchain, while still having privacy and full control over their personal data.

The science research field

Researchers can use this technology to analyze a massive volume of knowledge collected from a specific group of individuals. Blockchain allows a whole new infrastructure, making it easier to use and track every step of the research. 

The legal system

The breakthrough for the legal field is the existence of Smart Contracts, based on which, any type of business can create a completely legal basis. Blockchain enables the efficiency and simplification of transactional work and digital signatures. Massively reducing manual tasks and performing them automatically will significantly reduce the hours spent drafting and amending legal documents. The costs will decrease massively, especially for clients. Thus, everyone who needs legal services will have greater access to them, for a fraction of the current cost.

Some of the most important areas where blockchain will impact the legal industry are:

- electronic signature - it brings speed, efficiency, and cost savings to the authentication process

- intellectual property - a key blockchain-based innovation that impacts intellectual property is the non-fungible token or the NFT.

- property rights - property owners can cut out middlemen and sell their properties on the blockchain in a transparent and immutable manner, with a massive reduction in transaction costs.

- the chain of custody - the process of handling evidence from the moment it is collected until the moment it is presented as evidence in a court of law.

The property rights will never be challenged again

Creative professionals (artists, musicians, painters, writers, etc.) can eliminate the problem of copyrights, protecting their works from plagiarism, copying, or forgery with the help of blockchain technology.

The energy field 

Many processes in this sector will be streamlined. Some of these are the management of intelligent power systems, solving problems in the field of energy production, consumption, management and trade, real-time measurement of the level of electricity generation and consumption, and other indicators.

The elections field

The electronic voting dilemma can be solved with blockchain. Blockchain technology can solve one of the most pressing problems of the political world - transparency and decentralization. The current vote counting system is not only difficult to apply, but also unreliable.

Supply Chain Management 

This is one of the most promising use cases of blockchain as it provides real-time tracking of goods throughout the key points of the supply chain. Blockchain facilitates the process, making it faster and cheaper. At the same time, it assures better organization and coordination among all parties: suppliers, banks, and clients.

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These are just a few of the near future applications of blockchain technology in industries everyone’s familiar with. Considering them, just imagine what else can become possible in the following years, for other industries and for the new fields of the professions that are just emerging and might become popular in the next decades. Genetic counselors, Data detectives, Forest fire prevention specialists, and so on - all can benefit from blockchain technology in one way or another. It will be embedded in their everyday jobs, just like the internet is today.

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You’re here, so you’ve probably heard that we launched the DISRUPTIVE token. If you didn’t know, no problem, we got you covered! Keep reading and learn what DISRUPTIVE token is, and why you should be interested in holding it!

As a Staking Provider with a firm commitment to bringing the blockchain world closer to anyone, we take a step forward in consolidating our ecosystem.

We bring something new to the table beside the 2 Delegation System Smart Contracts and Kryptodots product (you definitely know about it, don’t you?).

This time we bring you… a TOKEN!

Therefore, a new chapter begins. As the Litepaper mentions - you can find it here, introducing the DISRUPTIVE token in the Disruptive Digital ecosystem is one step further that we take in our mission to create a world in which anyone can become their own bank and be able to manage their digital assets simply and safely.

WHY did we launch the DISRUPTIVE token?

Elrond community is a source of inspiration to us. Outstanding and focused on long-term building. It provides support whenever someone is in need. So to us, it looks like it deserves an incentivization!

Part of our motivation in launching the token is the consolidation of our position as a committed Staking Provider and as a mediator between blockchain and people. We want to give DISRUPTIVE holders the chance to purchase Kryptodots products directly with this token. Easy and safe.

WHAT is DISRUPTIVE token? 

In its full name, DISRUPTIVE-c20f7c is a token launched/minted on the Elrond blockchain. It’s an ESDT token with a fixed value, therefore it’s not volatile. Don’t take it as a stablecoin, because it’s not one either! It is entirely an incentive token used in products and services acquisition.

HOW will we distribute it?

The token's launching days also come with an Airdrop! So if you are one of our delegators, expect to see a bunch of DISRUPTIVE tokens in your wallet! 🙂

Afterward, the token will be gradually unlocked and distributed within settled campaigns and specific marketing activities.

WHO can receive DISRUPTIVE token?

We’ll distribute it mainly to our delegators who contribute to our ecosystem growth. What does that mean, more exactly? It’s simple. If you’re one of our delegators and promote our social channels, share the educational materials we have on our blog, and maintain the engagement of our community, you will receive the token. Extra points for the ones who create educational content for our blog!

Non-delegators also have a chance of receiving the token! If you’re one of them and you stand out through exceptional involvement in promotion, help, and support to Disruptive Digital, Kryptodots, Elrond Network, and our Partners, you also qualify for receiving the token, but under different circumstances.

WHEN will we distribute the token?

The tokens will be distributed each time there is an active campaign in which we previously announced that we will offer DISRUPTIVE tokens. The first one is already ongoing… hence jump on the boat!

WHY you should earn it?

Firstly, because you can purchase Kryptodots products with it. 

For 60.000 DISRUPTIVE tokens, you can purchase 1 Kryptodots backup kit. 

Secondly, you can engage and be part of the community, by sharing educational content and information that would help the newcomers to the ecosystem to accustom to different blockchain and crypto space terms.  

Furthermore, you will help user adoption and contribute to the onboarding of 1 billion users who use the Elrond blockchain. 

Last but not least, you contribute to decentralization. You are the one who shares the information with the community. We can create a better future together.

Choosing a Staking Provider comes with quite an effort and research. You should consider a few criteria to make sure you make the best choice in accordance with your expectations and objectives. There are many options when it comes to staking providers (SP), so choose wisely before you stake your EGLD 

First things first: what is Staking?

In the cryptocurrency world, staking refers to “locking up” a digital asset by “staking” it, agreeing to hold it in a wallet on a Proof-of-Stake (PoS) blockchain network. By agreeing to stake some or all of your holdings, you help ensure that the blockchain on which the assets are staked, operates correctly and securely. 

In exchange for helping to secure a PoS blockchain network, participants who stake their coins receive a share in the block reward in the form of newly minted coins. Staking is an integral part of a Proof-of-Stake (PoS) consensus mechanism and is designed as an alternative to Proof-of-Work that maintains the long-term security and reliability of a protocol.

Simply put, if you own some cryptocurrencies, you can “lock” them for securing the blockchain and get rewards in return. So, in the long run, you can earn a lot of coins. This is one of the easiest ways to have a passive income from staking crypto. 

There are 3 ways of staking 

You become a Validator

You create a node with at least 2500 EGLD locked in a system SmartContract (this is the minimum limit for creating a node until phase 4). The nodes are important for the Elrond network because they validate the transactions and they assure the efficiency and security of the network. The nodes are required to run on secure, reliable, and high-performing servers 24/7. 

In order to stake a node, you need to have a significant amount of EGLD and you need to assure the nodes have 100% uptime, are installed on very secure servers, and run the latest software version on the mainnet. A freshly stacked node is not producing rewards immediately. It is added to a queue. Note that in staking Phase 3.5 there is a maximum of 3200 nodes in the entire network, so only when a node from these 3200 becomes jailed, or someone unstakes a node, there is the possibility that your node can become eligible.  

If a validator has poor performance, the network will jail it, which means that it will no longer be able to participate in consensus, nor will it produce rewards. The node must be unjailed before it can resume its role as a validator.

This way of staking is highly unaffordable for most people due to the pretty high amount of EGLD needed.

You become a Staking-as-a-Service Provider

To become an SP you’ll need 1250 EGLD to start a smart contract and be able to accept staking from anyone. A node will be added to the queue once the staked sum reaches 2500 EGLD (1250 EGLD from initial SC + 1250 from outside staking). Note that the initial 1250 EGLD are locked as a network warranty and can’t be unstaked until all the delegators' funds are withdrawn and the initial SC is closed.

You will also need to run nodes in the same manner as a Validator + you’ll need to manage the Delegation System Smart Contract.

As this way of staking is still unaffordable for most people, and it’s not as easy to maintain the nodes without some technical background experience and constant efforts, you may consider the third way of staking which is the most accessible one.

You can stake your EGLD with a staking provider

This way, you are able to delegate your tokens to existing nodes operators and professional validators (staking providers) who accept delegations. They take care of the technical aspect of the staking process, which is the reason why the platform charges a fee - usually a percentage of the staking rewards. 

The minimum amount of eGold that you can stake to any staking provider is 1 EGLD. Thus, it is accessible to everyone.  

Now, what you should take into account when choosing a Staking Provider

We know that usually, you may refer to it as “a staking agency” but we choose to call it “Staking Provider”, as this is the correct naming. 

There are a few key points:

Other key info you need to know

Staking is non-custodial. No one has access to your funds.

That means that no Staking Provider you choose to stake your digital assets with will have access to your funds or to your private key. Also, the provider has no control or influence over the funds. The staking process will run securely through a smart contract using the Maiar app or Elrond web wallet. The Staking Provider operates the technical part so that you can be stress-free from it. The charge for that is the SP (staking provider) service fee which is already included in the APR displayed in the Maiar app or on the Elrond Web Wallet.

The staking can be done by anyone through the Maiar app or Elrond Web Wallet.

The top-up and the queue list

The system is done in a way that a Staking Provider can start with an initial fund of 1250 EGLD (valid for Phase 3.5) and be open to accepting staking from anyone. When the amount of 2500 EGLD is reached, the first node becomes active and enters the queue list. As more EGLD enters in the contract, this EGLD will become top-up. When the amount of 5000 EGLD is reached, the second node could be activated if the SP wishes to activate more nodes (entering the queue list) or can remain as a top-up if the SP doesn't wish to activate more nodes. And this process can continue in the same way for the following nodes. It is worth mentioning that for every EGLD that is staked on a queue node that stake doesn’t produce reward therefore the SP’s APR is significantly diminished. 

Capped vs uncapped Staking Providers

Any Staking Provider should maintain some top-up in order to safely operate their service. The top-up acts as a buffer - in case some users unstake their funds - the Staking Provider should have enough stake not to lose nodes.

The Staking Providers that have capped their staking don’t accept any more staking from other EGLD holders once their cap has been reached. They do this in order to maintain a relatively higher APR for the delegators by keeping a lower top-up per node.

For the Staking Providers that go with an unlimited cap, the APR can go down if more and more users stake their coins, because the Top Up APR comes with a small penalty to incentivize SP to care for more nodes thus contributing to a stronger and more secure network. However, since Phase 3.5 the Top Up APR and Base APR have been adjusted not to make such a big difference, helping the small SPs to catch up with the rest of the top SPs, helping the network decentralization.

The first 2500 staked EGLD to a single node is considered Base Stake, what is extra is considered Top Up stake.

As you can see, there’s a fine equilibrium that any Staking Provider should be able to achieve respecting his own business model by choosing the right amount of top-up per node or going uncapped.

It must be borne in mind that the network APR is a variable thing, depending on the total network stake and on the yearly issuance percentage/transactions volume. So the correlation is as follows:

The Staking Providers APR is tightly correlated with the network APR and also with each provider's interest and strategy.

Helping the decentralization

Thinking long term, any of us should have decentralization as our first goal because this guarantees us a fundamental and essential principle of the blockchain. Without this, the blockchain no longer makes sense. This means we encourage anyone to stake with small and trusted/reliable Staking Providers. DYOR (Do Your Own Research) to find out the SP that meets your needs. 

All of these being said, you can be sure that now you know what to check when choosing a staking provider. Also, you found out that staking is non-custodial, even if you stake with a rogue SP, being a non-custodial service no one has access to your funds. All the damage that can be done is just the waiting time for the unstake period (10 days).

If you read so far and you are not a beginner anymore, not new in staking / or when you feel ready and are up for a bigger challenge there is always the next level: Staking-as-a-Service Provider. You can upgrade your IT skills and join the trailblazers: the validators’ team. 

Any choice that you make on the staking provider must be documented, first. 

There are several ways to make a passive income using blockchain technology. In this “groundwork” article, we will tell you the basics about staking and lending. You will also find out why investing in eGold is a great idea.

First, let’s have a clear understanding of some terms. What is blockchain?

Blockchain — is a shared immutable, digital ledger of transactions and tracking assets that are duplicated and distributed in the entire network of computers that are part of a blockchain.

Blockchain technology is valuable because it has many applications in many industries. Here are some that we find interesting:

Basically, any transaction that needs to be private, but transparent, that might also need to be auditable, can be made via blockchain technology without a third party interaction, with no fees and zero room for fraud.

Transactions tracking and recording are not the bottleneck anymore

A digital ledger like the blockchain is very useful in many industries, but can it be scaled for the whole world to use this technology?

Bitcoin is the historical cryptocurrency connected to blockchain and due to its fame and market interest, it became “the” main use of blockchain in the eyes of many. We said “historical” because it was the first one, but also because it is considered to be outdated since it uses “proof of work”. This means that all transactions and assets’ tracking in the Bitcoin blockchain is done using powerful computers for problem-solving — “mining”. Once the problem is solved and a “miner” has the “proof of work” for it, he earns bitcoins. “Proof of work” is not scalable and the computers involved require immense amounts of energy. This makes it unsustainable in the long run. The mechanism was ingenious 10 years ago, but now it doesn’t justify the CO2 footprint it generates, considering the increasing number of transactions.

Thinking of the future, developers have created a more scalable and environmentally friendly method, called “proof of stake”, which calculates the reward based on the coins held by a miner.

Proof of stake is a collaborative approach that splits the reward between validators, while proof of work is a “winner takes it all” approach that bears less when it comes to network development and growth in general. Proof of stake makes transactions faster and less computing power is needed, therefore less electricity, too. Thus, proof of stake is the future.

How can you make money out of this without mining for coins?

Mining

In the American gold rush, the gold diggers started with a simple shovel and a kitchen strain. Once the gold became scarce, they had to use more advanced tools. It is said that the ones who truly got rich those days were the shovel and jeans makers. The comparison might lack creativity, but digging for Bitcoin went through a similar timeline: at the beginning, you could use an average computer, but then once the coin scarcity increased and the problems became more difficult to solve, while the transactions number increased, the miners needed more powerful computers, specially designed for this purpose. You missed this train! Is too expensive to join the Bitcoin miners-band now and the community is exclusivist.

Lending

As with classic coins, crypto can be bought and lent and the borrowers pay interest to you. For example, the BlockFi platform acts as a marketplace (middleman) and the interest rate for Bitcoin is 8%. By lending, you avoid the volatility of the crypto market and you can make a passive income.

Some cryptocurrencies also pay rewards (the blockchain version of the classic dividends), such as Tezos, VeChain, NEO, and Cosmos — via the Coinbase platform. The payout of rewards is small but steady.

Staking

If you own cryptocurrencies that operate on proof of stake, you can stake your coins. This is another form of lending, but you don’t need borrowers or a third party. You stake your coins to the network to secure the network and validate transactions. You receive rewards in additional coins from the network, like earning interest. The more you stake, the more coins you receive.

Staking is the REAL passive income between mining, lending, or trading. Once you stake the coins, you don’t need to invest any time, energy, or brainpower in managing the coins.

Are there profits?

Staking is as profitable as mining or trading, minus the risk. Of course, it’s important to choose the coin you stake wisely. It should be one that has low inflation and volatility and has a sustainable blockchain infrastructure, long-term projects, etc. Many PoS (proof of stake) cryptos are available for staking currently — e.g.: Titan, DASH, Tezos, EOS.io, etc. We recommend Elrond / eGold and you can read on to find out why.

What to check in a coin before staking

Here are 4 important things to consider when choosing the coins you invest in and then stake:

  1. Fixed supply — make sure there is a maximum supply of the coin and thus, the market is limited. This ensures a healthy demand and price increase in the long run.
  1. Real-usage — the crypto you choose should have a practical use, such as being used by companies in one of the industries we gave as examples at the beginning of the article, or other similar ones. There are many coins that weren’t created with a practical goal in mind.
  1. People behind — make sure the team has skin in the game and the company is trustworthy, that wants to build on the long-term.
  1. Ecosystem build around the coin — for example, Elrond has invested in building the Maiar App, the Maiar Exchange, and more features will follow (e.g. lending and borrowing, Maiar Launchpad, NFTs, etc.). Other coins are focused on specific elements, not on building an ecosystem.

Why you should choose to stake EGLD

Here is our take on this, at Disruptive Digital — official staking provider with a successful track record in staking eGold from Elrond:

“The profitability for staking EGLD varies between 12% and 17% depending on how many people are staking. This is short-term. In the long term, the economic model is deflationary, meaning that fewer coins will enter the network each year.

There is a “catch” though. If the fee that is generated by the projects that are run on the network overpasses inflation — meaning the number of coins that are generated by the network is covered from fees — then the network becomes self-sustainable and the capitalization will stay on a lower level than the one proposed.

For example, right now there are about 19.5 million EGLD (July 27, 2021). Every year, a certain percent of EGLD is entered into the network. Let’s say in 2 years there will be enough projects that will generate enough fees and inflation will be 0.

Then the existing EGLD can remain at, let’s say 25 million, and it will not increase as long as the fees cover that inflation. Getting back to profitability — called APR (annual percentage rate) — if the EGLD generated from the fees will be in a bigger volume than the inflation, then the APR can increase without a limit. It’s like this because all the income from the fees generated in the network will go to the validators minus 10% which is Elrond Foundation’s commission for development.” — Daniel Sîrbu, Founder and CEO, Disruptive Digital

In this article, we will talk about blockchain technology in very basic terms. There are a lot of sources that talk about blockchain and ledgers, about how decentralized currencies have the power of changing the future, about how “the ship has sailed” on becoming rich with Bitcoin, and how the word “trust” has gained power again. But what do all these actually mean? 

It’s no surprise that the word “blockchain” made a fuss in the past years and it has become more and more fascinating to people all around the world. And not only that, but the blockchain is already disrupting the financial system. So it’s time to look at it responsibly.

First things first: what is a blockchain?

As the name says it pretty obviously, a blockchain is a chain of blocks. 

Each block contains 3 things: a bunch of data, the hash of the block, and the hash of the previous block. 

The data stored on the block can be almost anything, depending on the type of the blockchain. If we talk about money, we’re talking about transaction records, but it can be any other type of data: pictures, links, information about a specific topic. For the sake of the article, we will focus on the history of transactions. It can store the following details: the sender, the amount of the transaction, and the receiver of the amount. For example, Anna sends 100 dollars to Alex. This is only one of all the transactions on that list. You can also check the topic of the smart contracts, as they are also part of this data that can be stored on the blockchain. Transactions are exchanges of coins based on some conditions that make them storable on the blockchain. 

Ok, getting back to the other elements of a block, let’s move on to the hash. The hash is actually an encrypted digital fingerprint. This means it’s unique, just like a fingerprint. It’s calculated as soon as the block it’s created, and if there are modifications to this block, the hash will change. 

The third element, which is the hash of the previous block, creates the chain of blocks that’s making the blockchain secure. 

Let’s say that we have 10 blocks in the chain: each block has a hash and the hash of the previous block. The only block which doesn’t have a hash of the previous block it’s, of course, the first-ever created block, which it's called the “Genesis Block”. 

Well, if the hash of a block has been changed after it was validated by everyone, all of the following blocks will become invalid. And this is because they no longer store a valid hash of the previous blocks. 

All computers in the network have to allow the changes before they occur, therefore we can say it’s consensus-based permission.

So, the new block in the link is stamped in order to establish a chronological order, and the hashing process proves that the block is qualified to be added to the chain. Each new block is identified and validated by its hash which was established taking into account data from previous blocks. It’s an unbroken chain - a blockchain - which leads all the way back to its very first block. 

OK, things start to make sense, but what exactly does a blockchain do?

Well, the answer is complex, but not hard to understand. 

Blockchain is a distributed ledger that’s open to everyone and that can record transactions between two parties in an efficient, verifiable, and permanent way, without a third-party intermediary.

At its most basic technological level, a blockchain is a recording of the facts and is time-stamping things so that it would be impossible to backdate or to temper with them. Therefore, blockchain is a ledger that confirms a few things:

What about trust?

Blockchain is a new kind of database, which is shared across a number of participants. Updates are added to this database. Always at the end of it and not through the old data. This means that once the data is there, it cannot be erased or modified anyhow. All changes are simply captured as new blocks. This characteristic is called immutability.

Thus, it’s impossible for someone to erase an earlier block without attempting to destroy all the following blocks. But as all of the following blocks were already validated by everyone, the attempt is impossible. So this is important because blockchain is time-stamping things in a way that cannot be manipulated or tampered with. 

Another paramount thing is that blockchain technology is bulletproof when it comes to manipulation in transactions. With its attribute of distributing the records to all the members of the network to be verified, it's impossible to tamper with the data because too many people have a copy of the original. 

This is what we call decentralization. This means that no one can be evil and mess with everyone’s money. It’s a database with no central authority governance. 

Each participant on this network holds, at the same time, an identical copy of the blockchain database on their computer. Therefore, the digital record and signature of the transactions are identified, validated, stored, and then shared with everyone. So blockchain keeps track of all changes, like an accounting ledger, but a superior one: a distributed ledger. 

Blockchains use a decentralized network to facilitate the transaction between parties. This means that, unlike the banks which take custody conducting payments, the blockchain transfers money without a third party as a middleman. This is also called The Trust Protocol. Because the platform itself is based on the trust concept.  

So if Anna wants to send 100 dollars to Alex, there is no financial institution through which the money will be transferred. There is no need for an intermediary, or a third party such as lawyers, banks, brokers, and so on. This is the huge potential that blockchain has. 

What’s the catch with Bitcoin?

To understand Bitcoin as it is today, we need to talk a bit about the history of the internet and computers.

Back in the ‘80s, there were many problems with privacy, security, and inclusion on the Internet. It was that period in time when the algorithms that support modern cryptocurrency appeared for the first time. 

Almost 2 decades later, the computer scientist and blockchain pioneer Nick Szabo developed Bit Gold, the predecessor of Bitcoin, a proto-cryptocurrency that was never implemented but had a lot in common with Bitcoin’s features regarding transactions and decentralized networks. It also operated on a proof of work algorithm which involves computer power in solving cryptographic puzzles. 

And then the world was disrupted with the 9-page white paper sent by the mysterious Satoshi Nakamoto in October 2008, describing the disruptive technology - Bitcoin: A Peer-to-Peer Electronic Cash System

He outlined a new peer-to-peer electronic cash system using a cryptocurrency called Bitcoin - which gained tremendous fame and widespread traction. We can undoubtedly say that Bitcoin defined and highlighted the importance of blockchain. 

But...there is more than one "but". Bitcoin is scarce and has limitations. One of the most important problems is scalability. And more than this, the competition for “mining” the few millions of Bitcoin left to be claimed is harder and harder. Because it requires knowledge, expensive equipment, and electricity. All in all inaccessible or unaffordable for most of the world.

Thus, from a sustainability perspective, Bitcoin is not a winner. The massive energy consumption for mining Bitcoin cannot be fixed with renewable energy. This is the reason why alternative cryptocurrencies - like Elrond - were needed. 

Elrond uses a more evolved mechanism, the proof of stake. This doesn’t require the enormous computing power and energy required by Bitcoin. We truly believe in this sustainable ecosystem and highly scalable public blockchain. It's the future! 

The Elrond ecosystem brings a great improvement in the blockchain speed, scale, and user experience. The Elrond blockchain can sustain up to 15000 transactions per second, which is like the speed of light compared to Bitcoin’s capacity of 7 transactions per second. 

Moreover, Elrond is highly scalable, enabling many parallel transactions processing, and also operates on a secure and efficient proof of stake. 

We’ll talk more about it in a future article. 

Conclusion

One thing is for sure: blockchain will disrupt the financial system and the economy greatly. The blockchain revolution is centered on individual autonomy and human capitalism. We will be able to re-engineer deep structures of innovation and it will be a major paradigm shift. When and how? We will dig deeper into this in our next articles.

Our mission and responsibility is to work on sharing our knowledge and to create together a  clear understanding of what this digital disruption means.