Blockchain Based Social Media Platforms To Know

Blockchain Decentralized networking platforms built on blockchain protocols/platforms that enable the development of applications and smart contracts are known as social media. Some of the blockchain protocols that support the development of social media DApps are Ethereum, Steem, and Stellar, to mention a few. Because Blockchain social media networks are decentralized, there is no central proprietary authority in charge of all data. Instead, the data is distributed across servers at each network node in a homogeneous and decentralized manner. If you want to know more about blockchain-based social media platforms, keep reading.

In recent years, mainstream social media sites have prompted debate. Major platforms like Twitter, Facebook, and YouTube can censor users and content, even if they want it.

They can also demonetize material and restrict money flow on their own. These issues can be solved with blockchain technology. By keeping user content on a blockchain’s immutable ledger, social media ventures can avoid censorship. They can also provide users control over incentives and reputation points by encrypting the data and transferring it via unstoppable crypto transactions.

Society2 on IOTA

Society2, a new social media site built on the IOTA blockchain and its IOTA Streams technology, will launch soon. Using blockchain technology, users will have more control over their data and privacy and the ability to earn free IOTA tokens by watching ads. Developers can also use Society2 to create new platforms.

Society2 unveiled its goals, stating that it aims to be one of the first decentralized social media networks with broad appeal. The development team hopes to create an early prototype by Q3 2020, although no firm release date for the platform has been set.

Blockchain Based Social Media Platforms


Peepeth is a microblogging platform on a decentralized social media network. It’s a Twitter clone, but don’t be fooled by its appearance. Peepeth’s monetization approach, mission, and backend technology are worlds apart from previous “free” services. It’s taking something you’ve gotten accustomed to and know how to use – and making it available to the rest of the world.

Peepeth is based on the Ethereum network, and like all dApps, it takes a modest amount of Ether to participate. That is, it is not “free” and does not conceal expenses from users. Using Peepeth costs the equivalent of a few American cents for an entire day of everyday interactions.

This platform, created by Bevan Barton, was released on March 27, 2018. Peepeth is an open-source smart contract with a frontend that can be accessed at

Some of the critical features of  Peepeth include:

  • Transparent
  • Can hide user identity
  • All the posts are stored on the blockchain
  • Interaction with contracts for decentralization


Sapien is a social news platform based on the Ethereum blockchain. It’s incredibly adaptable and democratic. Web3, a social network that compensates content creators and puts consumers back in control of their data, combats fake news. Sapien is a social news platform based on the Ethereum blockchain. It’s incredibly adaptable and democratic. Web3, a social network that compensates content creators and puts consumers back in control of their data, combats fake news.

Users can stake SPN tokens in Sapien’s engine and get tokenized rewards for making comments, voting on posts, and generating content. On this decentralized social network, users have complete control over their time and data.


Steemit is a platform for user-generated content and community building that blends blockchain technology, social media, and cryptocurrency. The social community creates and curates content in exchange for 50 percent Steem Power and 50 percent Steem Dollars. It is one of the most prominent blockchain social networks of all time, and it was founded on the Steem blockchain. Steemit is a platform for user-generated content and community building that blends blockchain technology, social media, and cryptocurrency. The platform features elements that are similar to Facebook and Reddit in terms of functionality.

Based on involvement and ‘upvotes’ on content, the steem system automatically distributes Smart Media Tokens to the producer (SMT). Users on this platform have earned over $59 million for their material, according to Steem Stats. Furthermore, the Steemit whitepaper predicted a whopping 6 million transactions per second, far higher than Bitcoin and Ethereum’s current TPS. Writers and content providers who wish to monetize their work should use Steemit. In February 2020, Tron purchased Steemit.


Diaspora is a distributed social network that users for users run. It comprises a collection of self-contained nodes (known as pods) that build a network. Because a single person or company does not own a social network, it is immune to corporate takeovers and advertising. “Our distributed design guarantees no big corporation will ever control Diaspora,” the project’s creator claims.

Diaspora is a distributed social network that users for users run. It comprises a collection of self-contained nodes (known as pods) that build a network. Because a single person or company does not own a social network, it is immune to corporate takeovers and advertising. “Our distributed design guarantees no big corporation will ever control Diaspora,” the project’s creator claims. Furthermore, individuals of the Diaspora’s “community,” as they refer to it, can follow hashtags in the same way on regular social media sites.

Diaspora is built on three critical factors in terms of functionality and structure.

Decentralized Network

The Diaspora network is based on dispersed servers that are owned and operated separately. It guarantees that the system is entirely decentralized, with no data being held on a single server.

Liberty To Hide Identity

Users do not need to divulge their genuine identity to participate in the Diaspora community. The user might also choose to reveal personal information such as their phone number. Apart from being free to use, the software gives users complete control over how they connect.

Security and Privacy

A unique Diaspora feature called ‘Aspect’ allows users to have complete control over their data and distribute it at their choice. Furthermore, users do not sign off their data rights, either to Diaspora or to any other third party, when they sign up for the community.


On the one hand, traditional social media’s popularity is skyrocketing due to the enhanced marketing and entertainment opportunities it provides to its users. On the other side, concerns about data and privacy breaches linked to these sites are growing.

The blockchain-based application puts the interests of the users ahead of the corporation. In the not-too-distant future, people will be able to operate these applications. We hope you have gotten an idea about the best blockchain-based social media platforms now.

Furthermore, because there is no centralized authority, users on these networks have more privacy. As a result, the freedom of speech and expression is preserved. People are spared the agony of being persecuted for their opinions on social media. Users can earn cryptocurrency by posting and interacting on most decentralized social networking platforms.

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Accounting for Cloud Computing Arrangements

The fortune you will spend on your cloud computing services is usually enormous. And to invest this significant amount of money, the companies should prefer taking guidance from the professionals or at least not instantly expense these setup charges. With time, the digital world has revolutionized. To keep up with the pace, you must get the proper accounting management.

The recent upgrades in accounting for cloud computing arrangements aim to minimize the differences and disparities as much as possible. ASU 2018-15 is one of the safest guidelines solely developed for reducing the complications of accounting services. By incorporating these policies, a company’s needs for capitalizing prices for hosting services can align effectively with the expenses for internal-use software that are the company’s assets.

Cloud Computing Arrangements

Starting from scratch, Cloud computing arrangements, abbreviated as “CCAs,” are the hosting arrangements/services where the client accesses and uses the software via the cloud. As the software services get used over the Internet, there is no physical possession. No purchasing and no installing of the software to your PCs and systems’ local servers!

Cloud is a desirable option because it provides maximum ease and security of moving imagery data, vital information, applications, and complete IT platforms. It keeps you connected with the entire team, no matter where you are and what type of device you are using. They are undeniably an impressive pick because of their flexibility and scalability.

Accounting for Costs

Whenever you think about migrating to a cloud computing arrangement, you must keep plenty of money ready to be used. In these substantial implementation costs, the services included are:

  • Software licenses for setup and implementation accounted for in compliance with the ASC 340 guidelines
  • Enhancement
  • Customization
  • Integration costs get capitalized considering its intangible assets. It comprises the expenses spent on currently installed software, configuration, and coding.
  • Training and data conversion costs (expensed as incurred)
  • Constructing the interface
  • Reconfiguring existing data and systems

Previous Standards

The previous standards named “Accounting Standards Update (ASU) No. 2015-05, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40)”, are used to assist the entities in assessing the accounting for charges paid by a client in a CCA by separating them in:

  1. The arrangements are based on a software license
  2. The arrangements are based on a hosted CCA service

As the rules stated, if CCA does not have a software license, the arrangement should get considered a service contract. Meaning? The companies need to outlay the costs as experienced. If the agreement includes the software license, the purchaser has to account for the software license (an intangible asset).

The drawback was its inability to help you calculate and guide you on keeping track of the related implementation and operational costs.

New Standards or Guidance

The new standards published as “ASU 2018-15, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40)”, are much more detailed, refined, and advanced. Helping keep the accounting for cloud computing arrangements/services under control and easy to check. It is a Service Contract that advises the industries about implementing a similar approach to capitalizing implementation expenses related to adopting CCAs and an on-premises software license.

  • Provides balance sheet
  • Guidance about cash flow cataloguing of the capitalized implementation expenses and associated amortization cost.
  • It gets you an income statement.
  • Clarifies the currently applied standard by focusing on the accounting for operating expenses linked with a service contract
  • Needs added qualitative and quantitative disclosures

Which CCA Costs can get Capitalized?

Suppose you implement the strategy for internally developed software. In that case, you will only capitalize on the hosting services’ implementation costs during the application development phase. Even the tiniest implementation costs suffered in the preliminary or post-operating stage need to get paid as incurred.

Potentially Capitalizable

  • External direct costs of materials
  • Expenses for accessing software from service providers or 3rd parties
  • 3rd party service charges for creating the software
  • Coding and testing charges directly associated with software product

Not Capitalizable

  • Accounts of activities involved in data conversion
  • Administrative and overhead cost
  • Costs of Software maintenance
  • Expenses dedicated to training activities

Implementation Guidance

  • Recognize cloud computing arrangements
  • Decide whether to capitalize or expense implementation expenses following ASU 2018-15 guidance.
  • Forecast the financial implications as every contract and model affects your company’s financial statements

Tata Consultancy Services vs. Accenture: 3 Powerful Comparisons

Tata Consultancy Services vs. Accenture services have both have revolutionized the world. They are adamant and compelled to modernize the world with the latest technologies and innovations.

Tata Consultancy Services vs. Accenture

Tata Consultancy Services, more commonly known as TCS, was formed in 1968 in India, almost 53 years ago. Tata Consultancy Services is a multinational Indian company providing Information Technology and consulting services. Over the years, TCS has grown at a rapid pace. The determination to excel and move forwards has earned them several accolades and rewards; for example, TCS ranked 64th in the FORBES most innovative companies of 2015.

Much to its praise, Tata Consultancy Services became the first-ever Indian IT Company to reach $100 billion market capitalization. TCS ranks 11th on the Fortune India 500 list. Tata Consultancy Services is a giant in the IT world and is currently operating in 46 countries.

Accenture Limited is an Irish-based company founded in 1989. Accenture headquarters are in Dublin, Ireland. It’s a multinational company that provides software development, software maintenance and validation, information technology, and business consulting. In their over 32 years of help, they have become global digital services and consulting leaders.

For 13 consecutive years (2009-2021), Accenture has been amongst the Fortune 100 best companies, with offices in Africa, Asia Pacific, Europe, Middle East, North America, and South America. Accenture has 624K employees and offices across 50 countries. Accenture is certainly dominating in its domain.

Tata Consultancy Services vs. Accenture Services and Strategic differences

Accenture and Tata Consultancy Services are pretty similar, yet very different. They both have different styles of doing similar tasks. Let’s uncover some of how Accenture and Tata Consultancy Services differ from each other.


At Accenture, some top-notch consultants have changed the game by implementing their thorough knowledge, strategy, design, and technology. With the advisory and consultancy of Accenture, many businesses and brands have excelled and dominated their competitors. It is because of this success that Accenture’s consulting capabilities get acknowledged all around the world. Accenture diverse team of deep digital and industry experts focus on:

  • Bold Strategic Vision
  • Deep Industry Expertise
  • Reimagine Business Functions
  • Human-Centered Design
  • Data and AI-powered Transformation
  • Continuous Innovation
  • Intelligent products, platforms, and core operations

Tata Consultancy Services rate highly for business consulting. They take pride in their efforts to elevate the business to new heights. For 53 years, not only has Tata Consultancy Services grown exponentially, but also its clients have benefitted from its outstanding services. A TCS consulting team comprises learned, intelligent, experienced, and highly professional individuals who have diverse backgrounds. The diversity doesn’t limit their growth but skyrockets it. The highly skilled experts at TCS focus on:

  • Strategic Vision
  • Thrive Amidst Disruption
  • Sustainable Growth
  • Providing industry expertise
  • Contextual knowledge of business


The core of Tata Consultancy Services’ strategy is customer-centricity. The process involves a deep understanding of the client’s business and providing technology solutions by applying contextual knowledge. Tata Consultancy Services has won the trust of its clients by delivering lasting technological solutions. TCS believes in making capacities both in people and new business initiatives. The motive of Tata Consultancy Services is to deliver robust, stable, and sustainable solutions.

Accenture believes that opportunity lies at the heart of change. Accenture provides winning strategies backed up by insights from data and AI. Accenture applies its technique with scale, speed, and certainty. Accenture co-innovate and co-create technological solutions that help clients improve their connection with customers, improve resilience and encourage sustainable growth.

Culture and Values

Accenture is a massive company with having over 265 thousand employees from 50 countries. Accenture gives tremendous regard to diversity and inclusion. They believe that if innovation wants to serve a diverse set of people from different backgrounds. At Accenture, your capabilities define you, not your race or nationality.

Accenture ensures a peaceful and friendly working ambiance for its employees so that ideas can flourish and ooze out. Nothing limits you at Accenture; you can grow as far as your thoughts take you. There is a culture of openness and inclusiveness. At Accenture, a mindset of exploration and innovation impregnates everywhere. Accenture believes in excelling forward with unity and hard work.

Below are Some of the Essential Values of Accenture

  • Give value to clients
  • Leadership by example
  • Integrity and transparency
  • Fairness
  • Excellence

Tata Consultancy Services is a multinational company with having over 500 thousand employees with 150 different nationalities. They have employees from diverse backgrounds, hence supporting diversity and inclusion. Tata Consultancy Services cultivates a sense of fraternity and harmony among its employees who care and show support to each other.

Tata Consultancy Services offers opportunities, flexibility, and consent to its employees at all levels. With a margin for exponential growth and improvement.

Following are Some of the Essential Values of Tata Consultancy Services

  • Integrity
  • Responsibility
  • Excellence
  • Pioneering
  • Unity

Accenture and Tata Consultancy Services both have a good, inspiring, and motivating culture, hence, fascinating for employees to thrive as far as they can.


Tata Consultancy Services and Accenture have highly skilled, trained, and experienced professionals dedicated to entertaining the clients with the best services and facilities.

TCS Provides the Following Service

  • Cloud
  • Consulting
  • TCS Interactive
  • Analytics and Insights
  • Internet of Things
  • Blockchain
  • Enterprise Application
  • Cognitive Business Operations
  • Conversational Experiences
  • Automation and AI
  • Engineering and Industrial Services
  • Cyber Security
  • Quality Engineering

 Accenture Provides the Service Mentioned Below

  • Application Services
  • Business Strategy
  • Data and Analytics
  • Industry X
  • Operating Models
  • Technology Consulting
  • Artificial Intelligence
  • Change Management
  • Digital Commerce
  • Infrastructure
  • Security
  • Technology Innovation
  • Automation
  • Cloud
  • Ecosystem Services
  • Marketing
  • Supply Chain Management
  • Zero Based Budgeting (ZBB)
  • Business Process Outsourcing
  • Customer Experience
  • Finance Consulting
  • Mergers and Acquisitions (M&A)
  • Sustainability


Blockchain as A Service: What is it & How does it Work?

A key part of this growing technology is blockchain. Blockchain technology permits entities to share data fast, and securely without compromising on security. No one party is responsible for safeguarding or processing the transaction.

Blockchain technology is usually very complex, so just building, maintaining, and monitoring a blockchain system for a given application is too time-consuming. With blockchain as a service (BaaS) becoming more prevalent, businesses can utilize distributed ledgers as a more accessible alternative, particularly with regard to cutting costs and overhead. Blockchain solutions have extensive real-world applications, yet industries are still struggling to harness their full potential. Also, blockchain can be offered as a cloud service. Why is that so? To deliver maximum benefits to the target audience through blockchain-based services.

According to predictions, global spending on blockchain solutions will increase to 6.6 billion dollars in 2021, and it is forecasted that spending on blockchain solutions will reach almost 19 billion U.S. dollars by 2024.

What is Blockchain as a Service and how can a Business Benefit from it?

BaaS (Blockchain-as-a-Service) is a third-party service that allows companies to create and manage blockchain-based networks utilizing cloud technology. Providing third-party services within the sector of blockchain technology is a relatively new development. Blockchain applications have progressed far beyond their best-known use in cryptocurrency transactions and have widened to cover secure transactions of all kinds. As a result, hosting services are in high demand. Blockchain technology is now being used to deliver services to a broader audience through the cloud-as-a-service model.

This model works in a similar manner to SaaS, PaaS, and IaaS models which enable the use of cloud-based apps and storage. BaaS is a low-cost method for businesses of all sizes to employ blockchain technology. BaaS enables enterprises to obtain blockchain providers’ services at minimal cost to develop blockchain apps. According to the Fortune Business Insights report, the Global BaaS market size is projected at USD 24.94 Billion by 2027, showing a CAGR of 39.5% between 2020 and 202.

Why Blockchain as a Service is so Important?

An organization’s operations are driven by information. It’s better to receive it as quickly as possible and as accurately as possible. As a method of providing that information, blockchain is ideal, since it provides immediate, shared, and transparent information stored on an immutable ledger that can only be accessed by members of the permission network. Blockchain networks are used to track orders, payments, accounts, production, and much of the above. Members can view all the details of a transaction in one place, giving them more confidence, while generating greater efficiencies and opportunities.

The adoption of blockchain technology is increasingly being explored by IT organizations in a wide range of industries. Despite this, the inherent technical complexities, a lack of domain expertise, and the operational overhead costs of developing, operating, and maintaining the Blockchain often slow down plans for adoption. BaaS, however, is currently being seen as a possible solution to this problem.

The right Blockchain as a Service provider can ease businesses’ transition to Blockchain technology by giving them access to skilled Blockchain developers, process and governance experts as well as the required cloud infrastructure without worrying about startup and overhead costs.

A reputable BaaS provider will also offer a rich source of experience and wisdom that can be leveraged to upgrade the security of the systems. As a result, it significantly reduces the number of risks that would have to be dealt with if it had been developed in-house.

How Blockchain-as-a-Service Work?

BaaS is when an external supplier sets up for you all the necessary “blockchain technology and infrastructure” and you pay the provider for setting up and maintaining the nodes. BaaS providers handle the back-end dynamic for the users and their companies.

The BaaS operator ensures the preservation and management of critical objects and services related to blockchains. Additionally, it can regulate bandwidth, allocate capacity, assess storage needs, and identify security risks. BaaS lets consumers concentrate on their core activity — blockchain technology — instead of worrying about infrastructure and performance issues.

As an example, consider BaaS as a hosting provider. It takes you just a few minutes to design a web page that reaches millions of people every day. In fact, you can run your own website from your own office using your own computer/server and either does the work yourself or hire a support team. Moreover, a website can also be hosted at a location that is not convenient for you.

A good example of blockchain technology is Hyperledger Cello, which is a utility system and toolkit for blockchain modules that is similar to a BaaS platform.

The Hyperledger Cello (HLC) system is a distributed computing platform that helps people manage and use blockchain systems more efficiently.

Cello provides the following major features based on blockchain technology and modern PaaS tools:

  • Automatically manage blockchain network lifecycles, such as creating, stopping, deleting, and keeping healthy.
  • Allow customized blockchain network configurations, including network type and size.
  • Support bare-metal, virtual machines, vSphere, native Docker hosts, Swarm, and Kubernetes
  • With the integration of existing tools like ElasticStack, the platform offers advanced features like monitoring, logging, health, and analytics capabilities.

In a nutshell, Blockchain as a Service could be the catalyst for the wide-scale adoption of blockchain throughout various industries and firms. Big or small companies can now simply “outsource” their technological complex tasks so they can focus on their core business rather than managing and developing their own blockchains. Big technology companies are already putting their hats in the blockchain ring for their own BaaS deals. Microsoft offers its Azure platform to support the BaaS system. Its own BaaS focuses on private blockchains, while its cloud services are provided by Amazon and Oracle.

The Bottom Line

Now, big tech companies are offering blockchain as a service to assist clients in adopting this world-changing technology and staying competitive. Blockchain as a service is offered by big providers like Microsoft and IBM. Their services enable executives to source blockchain functionality instead of developing these kinds of platforms on their own. A blockchain-based service can be a disruptive innovation in almost any industry since blockchain technology has so much potential.

Overall, BaaS is the technology you need if you want to take your business to the next level. Blockchain as a Service solution not only makes blockchain technology accessible to a wider audience but also supports all the rapidly emerging use cases of the technology, effectively expanding your business scope.

10+ Fintech Statistics & Facts for 2022

Fintech (financial technology) is a word that refers to cutting-edge digital technology that aims to improve financial services and banking. In the financial industry, cutting-edge advancements like blockchain and artificial intelligence are ushering in new methods of conducting business. Digital currencies, banking, insurance, personal loans, and wealth management are just a few of the industries that are undergoing a digital makeover.

The financial sector has been buzzing for the past five years about the disruption fintech companies are making by offering consumers alternatives to established solutions. The tide is turning, according to statistics. Established businesses are more aware than ever of the possibilities and importance of these new technologies.

The financial technology sector is one of the fastest-growing in the world, with an average annual growth rate of over 25%. According to the most recent fintech data, the industry will be worth over $310 billion by 2022 if current trends continue. So, while fintech isn’t yet among the top ten worldwide revenue industries, it’s on its way. Is investing in fintech a smart idea? What are the top fintech companies? All of the answers, as well as some additional nerdy info, can be found here.

Fintech Statistics

  • A large percentage of traditional financial firms (88 percent) expect part of their income to be lost to independent fintech firms during the next five years.
  • In the first half of 2020, fintech businesses received $25.6 billion in funding from around the world.
  • digital banking is gaining traction: 46% of consumers only utilise digital channels for their financial transactions.
  • To enhance client retention, 77 percent of conventional financial institutions aim to expand their attention on innovations.
  • Digital payments’ overall transaction value increased from $4.1 trillion in 2019 to $5.2 trillion in 2020.
  • From $4.1 trillion in 2019 to $5.2 trillion in 2020, the overall transaction value of digital payments increased.
  • Investors who want to capitalize on emerging trends — i.e., electric vehicles or remote work — may want to check out “thematic” exchange-traded funds. These ETFs provide a way for investors to engage in so-called thematic investing, which generally means buying stocks or other investments that may benefit from a particular trend (source)

By 2022, the Fintech Sector is Estimated to be worth $310 Billion

In 2018, the industry garnered $128 worth of investment from throughout the world. Experts predict that the industry’s compound annual growth rate (CAGR) will be 25%. In other words, $310 billion is expected to be invested in the sector by 2022. In 2018, fintech businesses got more than half of the $254 billion in yearly venture capital financing.

By 2022, North America will have the most Financial Startups

North America has the most fintech startups, whereas Asia has the most revenue-generating fintech businesses. There are 8,775 financial services startups in North America, according to statistics. There were 7,385 people in EMEA (Europe, the Middle East, and Africa), and 4,765 in APAC. (Asia-Pacific). It’s amazing to observe how the number of fintech companies has skyrocketed by 2020. In North America, Europe, and the Asia Pacific, respectively, there were about 5,600, 3,500, and 2,800 newly founded fintech in 2018 and 2019.

There are 79 Unicorn Fintech Firms throughout the World as of January 2021

A unicorn company is a privately owned firm with a market value of $1 billion or more. Decacorns are valued at over $10 billion, while hectares are valued at over $100 billion. As of the beginning of 2021, there were over 500 unicorn firms valued at a total of $1,780 billion. According to data, six new fintech unicorns earned this prestigious status in January 2021.

The Global X Fintech ETF’s Per-Share value more than Quadrupled from $15 in 2016 to $47 in 2022

Investors can have access to fintech investment opportunities through the Global X Fintech fund. The stock’s share price and overall health have been steadily rising in value, with no signs of decreasing in the near future.

Stripe, Located in San Francisco, is the most Valuable Financial Technology Company in the United States, with a Market Capitalization of $35 Billion.

Stripe began as a payment processing service for small businesses in 2011. Among the company’s current clients are Facebook and Amazon. As a result of these high-profile hires, Stripe’s value has climbed to $35 billion.

Ripple, a $10 billion payment protocol and exchange network provider, is the second-largest company, with a market valuation 3.5 times that of the next-largest company.

By 2022, Artificial Intelligence will have saved the Insurance Sector $1.3 Billion.

Fintech’s disruptive potential has generated a lot of discussions. Artificial intelligence plays a major role in this. Computers can automate post-accident data collection, analyze photos of accident scenes, and perform a number of other activities in the insurance industry, allowing insurers to handle claims faster and for less money. Savings of $1.3 billion are expected by 2021.

By 2022, Digital Wealth Management Firms with a Retail Focus are Anticipated to have $600 Billion in Assets under Management

The majority of this expansion has come from existing financial institutions. This is due to the fact that emerging fintech businesses frequently provide low- or no-fee stock trading and robo-advisor services, resulting in lower profit margins.

Established businesses are also beginning to adopt this business model, thus the future of these startups is questionable.

Asian Businesses have a Long Track Record of Success Across the World

Because most worldwide leaders are headquartered in Asia, it appears that the Asian market dominates the global financial technology sector. With a $16 billion value, Paytm deserves to be mentioned among the finest. The online payment method originated in India and has recently grown in popularity. With a $14 billion value and investors such as SoftBank and Uber, Grab is another worldwide leader. Grab is a ride-hailing, food delivery, and digital payment service company founded in Singapore.

According to global fintech statistics, GoJek, which is based in Indonesia, is another of the top fintech companies. This ride-hailing and online payment firm have received a $12 billion valuation. No fintech, on the other hand, comes close to the Ant Group of China. Remember this name the next time you’re curious about the world’s largest Fintech firm. It has a current market capitalization of $131 billion dollars. This comes as no surprise given that the Ant Group owns Alipay, the country’s largest digital payment network with over a billion users.

Deloitte vs Cognizant: Consulting and Services Comparison 2022

Deloitte vs Cognizant

Deloitte tech solutions is a multinational service network company that provides services to individuals and organizations. It has offices in over 150 countries around the world. William Welch Deloitte formed this firm in 1845 in London. With time, it spread in different countries around the world. The people of Deloitte work across the business and industry sector that defines today’s marketplace.

EES’s cloud computing consulting services have the aim of helping companies to migrate apps and sensitive databases to secure and scalable cloud infrastructure and accomplish maximum cost-effectiveness.

Cognizant is an American-based globally known technology company that provides services relating to business consulting, digitalization, security, cloud-enabling, and outsourced sourcing.

Services provided by Deloitte

It provides services like consulting, audit and assurance, risk and financial advisory, tax and legal services globally. Most of the services are mentioned below:

Audit and Assurance

There’s a lot more to auditing than just numbers. It’s about recognizing triumphs and challenges while also assisting in establishing solid foundations for future goals. Deloitte clarifies the what, how, and why of change so you may always be prepared to act.

Resource Evaluation & Advisory

The Resource Evaluation & Advisory practice of Deloitte has the experience and knowledge of the global energy industry to help the customers strategically grow their businesses through mergers, divestitures, and acquisitions at all stages of the business cycle.


There are numerous approaches to achieving innovation, transformation, and leadership. It’s crucial to be able to address complex problems. From strategy formulation through execution, Deloittes can work together to help you design, deliver, and run your business, wherever you compete, using cutting-edge technologies like Cloud and cognitive.

Risk Advisory

In this speedy world of technology, things can change overnight. In this technological world, Deloitte tells you how one can survive and helps in dealing the uncertainties. It helps in growing and sustaining your business.

Financial Advisory

Deloitte’s Financial Advisory services help to build solutions in acquisitions, disputes, investigations, and restructuring.

Legal Services

Legal services Deloitte  involves different matters like legal Advisory service, legal management consulting, and legal managed services


Deloitte helps you to know how tax function operates and what tax strategies are. It allows you to connect with expertise, technology, and noble ideas to make your business more agile.

Services Provided by Cognizant

Application Mordernaization

application modernization services at Cognizant assist you in achieving agility in an increasingly digital environment. To upgrade essential business applications, combine accelerators, platforms, and strategic partners. As a consequence, you’ll have a business that’s ready for whatever the new regular throws at you.

Artificial Intelligence

In this modern world, there are different challenges in the field of business. To deal with these challenges of different shapes and sizes, a diverse set of skills is required. Cognizant’s Artificial Intelligence has organized around three unique capabilities that will let you explain, anticipate and respond throughout the business.


In the modern world, everyone is familiar with cloud services and needs to use these services.  Cognizant helps in adopting the cloud platform and maintaining it. The Cloud enables you to mobilize your business, and it also increases the speed and control over the organization. While using Cloud, you can quickly deploy new applications.

Cognizant Infrastructure Services

With infrastructure services that are changing the face of businesses, Cognizant is assisting you in preparing for the digital era. By delivering services through a business-aligned catalog model, we can help your company realize the full potential of automation and a software-defined data center (SDDC).

Cognizant Security

Cognizant provides security services in this era of the internet, where our data is shifting over the Cloud. It helps to remove security blind spots and accelerate your organization. Cognizant provides full security solutions for your organizations and also solves upcoming threats as well.

To avoid transformation risks as you create for the future, you’ll need a strong understanding of modern technologies, applications, infrastructure, security, operations, industrial domains, and human-centric design. Furthermore, we imagine and execute beautiful and straightforward solutions, transforming and streamlining applications and infrastructure at speed and scale—all to assist you in delivering on the promise of digital for all.

Core Modernization

Cognizant has a deep understanding of the latest technologies, security, applications, infrastructure, and operations. Utilizing this knowledge helps in reducing the risks for the future. This company also provides solutions, applications, and infrastructure for your organization.

Digital Engineering and Experience

Through its digital engineering and experience, Cognizant provides design, engineering, and delivery to companies that support digital-first business models. For long-term innovation, it provides the most comprehensive digital engineering knowledge and client-centric methodology.

Enterprise Application Service

Cognizant Enterprise Application Service assists clients across sectors to reinvent their digital customer experience, recruit and maintain a world-class workforce, productively engage their partner ecosystems, and govern their operations and finance organizations.

Deloitte and Cognizant both provide solutions to the companies. The former one targets the small business, while the lateral one is more popular in the mid-market. If we talk about responsiveness, Cognizant is more responsive as compared to Deloitte.

Decentralized Cloud Computing: Blockchain and Cryptocurrencies Empowering Cloud Technologies

Statistics have shown over $17 billion in income is generated each quarter by cloud computing, which powers many of today’s internet-based apps and services. What individuals share and save, how they cooperate, and how they use distant apps are examples of how this technology is used in their daily life.

Introduction of Decentralized Approaches to Managing Data

Decentralized approaches are needed to fulfill digital business infrastructure requirements, according to businesses throughout the world. More than five billion IoT devices will require edge solutions by 2020. According to Business Insider Intelligence, Data and services are moved from one or more central nodes to the “edge”, which is frequently in contact with the end-users, using edge computing. To achieve this goal, edge computing employs a combination of peer-to-peer ad-hoc networking. It also uses local cloud computing. Grid computing. Fog computing.

Blockchain-Based Decentralized Approaches and FsMain Challenges

Since the early 1990s, there have been platforms for sharing computational resources. UC Berkeley’s SETI@home is an example of a scientific project in which individuals may contribute by running a free application that downloads and analyses radio telescope data. This dependency on central nodes to distribute and manage jobs, coupled with difficulties connected to suitable incentivization schemes for computing power suppliers and correct verifiability of the performed computation, are the primary drawbacks of such platforms at scale.

Ethereum emerges as a critical enabler of decentralized cloud solutions in this scenario. Because blockchain-based designs employ consensus and incentive systems to help distributed computing overcome some of the difficulties stated. Token-based node host compensation, for example, is not only a great way to encourage interested parties to put their resources online, but it also helps prevent bad players from taking advantage of the system.

Some of the Challenges Delineated are:

  • Making sure resource suppliers have the proper incentive strategy in place by ensuring equitable revenue distribution
  • Infrastructure scalability should be considered, given the present limits of blockchain infrastructure scalability.
  • The computation must be verified (i.e., a provider claiming to have provided the service without effectively doing it). However, to be effective, reputation management strategies must strike the proper balance between reputation weight and market entrance costs.
  • Oracles are not decentralized by nature. Use trustworthy oracles*. The trust problem might be mitigated via distributed oracle proposals. A malicious attack or other (standard) difficulties may give rise to the right to deletion of data.
  • Many projects are exploring ways to integrate blockchain into distributed computing platforms. Use cases for blockchain in the decentralized cloud are described below.

Blockchain-Based Decentralized Cloud Solutions


Data Centers will generate new revenue streams from their underutilized capacity by using Ankr, a decentralized cloud solution now under development. A high degree of service availability, easy integration, and secure communication will be required to achieve this goal. Containerization, cluster orchestration, and Trusted Execution Environments would be leveraged to achieve this goal (TEE).

Using a new consensus technique dubbed Proof of Useful Work (PoUW), the Ankr team can attain a high level of security while wasting minimum amounts of energy.

The figure below shows the fundamental component of Ankr’s mining strategy, which examines the critical participants in the system.


decentralized cloud computing

Due to the described method, the PoUW consensus achieves a high-security level while minimizing energy consumption.


A global supercomputer with “unlimited” capacity and processing power will be made available through the Dfinity project, a decentralized cloud solution. Crowd wisdom and classical AI technologies are used to freeze rogue smart contracts that undermine the interests of individuals utilizing the platform.

Since certain transactions may be altered and reverted with algorithmic approval, this is a different approach from projects like Bitcoin or Ethereum, where the rule “The Code is law” mandates that a user cannot edit or reverse the transaction once it has been completed.

The figure below shows the Dfinity consensus mechanism structure:


Dfinity consensus mechanism structure

After a committee (a subset of all registered Clients) temporarily executes the protocol on behalf of all Clients, it assigned the ultimate execution to another Committee, which delegated it to another Committee.

While maintaining fairness and security, this technique allows the infrastructure to scale predictably.

Vocabulary Recognition Functions (VRF) give publicly verifiable evidence of their output’s accuracy without requiring a secret key.


In the Solana project, the Proof of History idea is used to construct a unique blockchain architecture (PoH). PoH employs a verified delay function to provide the network a feeling of shared time that is not reliant on trust. The GPUs on Solana also handle transaction processing, a method that scales with Moore’s Law.

An integrated circuit with many transistors is said to double its transistor count every two years, providing a significant increase in computing capacity. Together with a Proof of Stake consensus process, this mechanism can make the infrastructure extremely scalable.

It is possible to use the infrastructure for a variety of purposes, such as decentralized cloud computing.

The Solana transaction flow is shown in the figure:


Solana transaction flow

New decentralized cloud providers are expected to enter the market in the future, competing with established companies by delivering new services. Several additional projects in development have been in development for 2–3 years and are currently in testing phases.

Because decentralized cloud architectures based on blockchain technology are still in their infancy, essential criteria such as quality of service and performance and scalability and security will be crucial in the long term for these projects to develop economically.

Do Robo Advisors Use Artificial Intelligence(AI) ?

As the name suggests, Robo Advisors are digital applications that provide customers with financial advice based on algorithms, artificial intelligence, or mathematical formulae. Robot adviser is the abbreviation for Robo Advisor. The phrase Robo Advisor, on the other hand, is incorrect. Rather than a real robot, a Robo Advisor is a digital construct, most often an algorithm or artificial intelligence (AI).

Artificial Intelligence (AI) has been altering several areas and boosting efficiency by employing enhanced datasets for the past few years. Robo-advisory is one of those fields where AI has accelerated progress.

Robo advisers are software robots and are not technically robots. It is true that the AI that powers robot advisers is comparable to the software that supports them. Robo-advisors connect with investors using smartphone applications or the internet.

Using the software, consumers may select equities for their portfolios based on the desired balance, and it can also give limited financial advice to clients. AI-based Robo-advisors, like other expert systems, are designed to replicate the judgment and behavior of an experienced human expert in a particular sector.

Financial institutions can use Virtual Assistance (VA) software to handle relatively basic inquiries while referring the more complicated ones to human advisers to save money. Often, even human employees utilize Robo-advisors to help them react to consumer demands more efficiently.

The software is very affordable to buy and maintain, given that financial advisers are generally well-paid. Investors also perceive Robo-advisors as a cost-effective method of delivering investment guidance. According to some, robo-advisors might help improve financial literacy by allowing investors to examine choices without feeling rushed, as they would when interacting with an actual person.

What is an AI Robo Advisor?

These influential new and best robo advisors employ AI and machine learning to evaluate assets. As it turns out, some of these robot advisors will do much more than provide financial advice!

Investment selection and retirement planning are now activities that Robo-advisors can perform. First, most of this software asks users to sign up and complete a brief survey about their present financial position and their future aspirations. As a result of this, the software analyses the user’s present financial situation.

A few applications may propose financial actions to increase a user’s wealth and automatically invest or rebalance the user’s allocations. As a result, specific applications can track the user’s expenditure based on bank or credit account activities and recommend budgets.

These applications make wealth management so convenient that Deloitte estimates that the assets these digital tools will handle in the US alone may reach $5 trillion to $7 trillion by 2025.

Will Artificial Intelligence (AI) Advisors Replace Robo Advisors?

  • Investment institutions are experimenting with AI because Robo Advisors have proved challenging to pitch to a wealthy clientele. Reuters reports that UBS sold its SmartWealth robot advisor to SigFig in 2018. The Swiss bank sold SmartWealth because it was losing money.
  • As Numerai’s founders explain, they expect to succeed where UBS failed by developing AI advisers to perform everything human investment bankers and fund managers can accomplish.
  • In reality, firms like Numerai are developing artificial intelligence (AI) that can handle money without human intervention. But AI advisors of today are still a long way from attaining this aim. Many businesses, on the other hand, are working to create AI advisers that can “think” for themselves.

What Types of Robo Advisors Are There?

  • Many Robo Advisors are now available on the market today. Nearly every day, new Robo Advisors come on the market! Simple investing software like Vanguard’s Personal Advisor Services is the most popular Robo Advisors.
  • Apps for investing in the stock market monitor accounts and execute trades based on specified conditions. If the price-earnings ratio (PE Ratio) of a company is too high, for example, and investment software might sell it to the user.
  • M1 and Robin Hood, two automatic investment applications, provide fast, low-cost access to the financial markets. For example, when it comes to M1, consumers may choose their stocks and ETFs or choose from 80 professionally managed portfolios.
  • Our goal is to offer business executives an overview of the artificial intelligence capabilities of five different Robo-advisor businesses by comparing them head-to-head.

Hybrid Advisors vs. Robo Advisors

  • Human, financial specialists are not used by several wealth management businesses, like Wealthfront. Wealthfront, on the other hand, relies on computers and bots to handle everything. The Automated Financial Management service, for example, is advertised on Wealthfront’s site.
  • Morgan Stanley and Vanguard, meanwhile, are conventional financial businesses that favor hybrid advisers over traditional advisors, according to the report. This type of company makes use of hybrids since they deal with a diverse group of clients.
  • Fintech technologies like Robo Advisors have a lower trust rating among individuals who are new to the financial markets and investing. In general, They are more efficient and function better with a significant number of clients.
  • Contrary to popular belief, robots can give customers a greater degree of support than human advisors. They can reply to phone calls and emails in real-time and operate 24 hours a day, seven days per week. Another benefit of Robo Advisors is their ability to respond immediately to basic requests, such as selling or purchasing stocks or providing balance information.
  • Finally, Robo Advisors may be accessed instantly via cell phones and the internet. Consequently, Robo Advisors are ideal for investors who wish to maintain a high level of control over their portfolios.
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