A new beginning

It is time to shake off the dust, look at what happened, and move on with life in the new normal. At this moment, it is necessary to observe what can be changed, in the strategies that worked. Revisit the strategies that went wrong and try to find some strategy that can still work, even with a different approach.

Above all, now it is time to get back to normal. Even though it is a new normal, in a much more technological world, there is still a market for those who adapt quickly. For those who lead changes and are always up to date, there will always be great opportunities.

Although many people have lost their old jobs, however stable they may seem. Even for those who are still employed, many old tasks are gone and everyone had to adapt to the new reality. The world is different, and the 4.0 revolution is here to stay. What will be the new revolution?

To change is a maxim that nature imposes on us: change or extinction. As Charles Darwin said: whoever survives is not the strongest, nor the most intelligent, but who adapts faster. Therefore, the biggest risk in the world is not adapting to changes.

Time to Change

It’s a great time for big changes. Companies and people are becoming aware that caring for the environment and health are essential. Companies that were consolidated in the market are looking for new market niches, completely rethinking their production chains, their customers, products, services, image. People who were in risk groups are changing their habits and opting for a healthier life.

It’s time to rethink everything! It is time to revise the mission, vision, and values. Reformulate the company’s processes, strategy, and vision. The current moment is opportune for major optimizations towards more rational and more productive operations. Especially rethinking, reducing, and simplifying processes! What can we accelerate and automate today?

Is there any process done outside the company’s formal system? Processes carried out outside the formal management system generate more work to control and analyze, generating the risk of not generating the expected return. Undoubtedly, it is the best time for process automation, reducing unnecessary processes, simplifying activities, and increasing productivity.

With the scarcity of jobs, this is the best time to build multifunctional teams, more focused on profitable activities, and rational processes. The technological environment has never been so prosperous and it is unbelievable that any company still insists on using systems with a technological lag. Business management systems have never been more agile and capable of simplifying processes, reducing risk, and increasing productivity.

The biggest risk for some companies and people is getting stuck in time! There is no nothing to waste, neither time, effort, or resources. The world calls for agile and effective changes. Economic cycles are getting faster and challenging, only the best are going to survive these environmental changes.

Are crypto assets risky investments?

According to The Financial Action Task Force, although virtual assets potential benefits, “without proper regulation, they risk becoming a virtual safe haven for the financial transactions of criminals and terrorists.” In fact, crypto assets are been used to ask ransom, to money laundering, and to undercover criminal activity. According to CipherTrace, only in 2019, “losses from fraud, misappropriation of funds, exchange hacks and thefts add up to US$4.5 billion. Of these US$370 million were lost to thefts and hacks.”

According to CipherTrace, from 2018 to 2019, crypto-assets losses “due to fraud and misappropriation increased by 533%”. The FATF outlines that only the ‘Wannacry’ ransomware attack in 2017 cost at least “USD 8 billion in damages to hospitals, banks, and businesses across the world,” this damage is far beyond the USD 100 million asked in bitcoin ransom.

Crypto assets are laundered to hide rising ransomware attacks and other criminal activity. Chainalysis report that USD 2.8 billion was laundered in 2019 only with crypto assets. Not only viruses are infecting thousands of computer systems that are kept hostage until the victims paid hackers a ransom in crypto assets. Blockchain currencies are vulnerable to Sybil attack that in one single case 25,000 bitcoins were stolen in 2011.

Some countries are taxing those assets as regular high-risk investments, requesting investment banks, and stock-brokers to verify the identity of clients. Adding to already mentioned issues Institute for Research on the Internet and Society alert that “representations of value operated on the crypto platforms are not currencies neither from an economic standpoint nor from a legal one.” Therefore, investments in this type of asset cannot be considered a safe investment.

Authorities enforcements to track crypto transactions are legitimate and necessary to avoid its use to undercover criminal activities. Fighting against money laundering, and terrorism financing, making the world a safer place.