15 Feb
Bitcoin, The Great Deception!
This question keeps coming up, is bitcoin great deception? a quick way to launder money, the way to show the world that you are against status quo, or, is it just a new fad which will die as soon as a new hype comes to town. So far Bitcoin has been volatile achieving hugely unpredictable movements in its value, making thousands of people millionaire’s or bankrupt, along the way. The key idea behind this blockchain based currency is that it exists independent of any asset or state-backed currency, making it a free for all. Again, and again we have heard that bitcoin will fail, it’s a sham, it is going nowhere, from people like Jamie Dimon, CEO of JP Morgan and many other well-reputed individuals.
Bitcoins future is further questioned by the introduction of asset-backed currencies such as JP Morgan’s own JPM Coin or tether, blockchain coins which are called stable coins, coins which are backed by asset reserves making them more secure, stable and not linked to being notorious for their anonymity. There is a huge uproar in the startup world on the introduction of this new direction for blockchain currencies, platforms like TrustToken are helping startups create such coins, a process called tokenization, TrueUSD was the first stable coin created on this platform.
The technology industry is on wildfire, with the advent of Big data new ideas are being worked on and a 100 million new startups are being created every year (GEM National Report). Having a strong Firm of Growth Consultants, Business Advisers and Accounting and Tax Specialists can result in an enormous difference between the success and failure of a new startup. Having accountants who are savvy and understand the complicated rules around changing technology can result in those extra savings and growth leaps which can consequently mean success or failure. Clear House Accountants are specialist Accountants in London who are experts in working with creative businesses across the UK, helping them create smart tax and accounting solutions to their innovative problems.
Jinesh is a Senior Business Accountant, with a masters in Finance from Westminster University, and specializes in tax and accounting for small to medium businesses with a turnover less than £ 3 Million.
He specialises in helping creative businesses understand and manage their accounting and tax needs and obligations.
As accounting ecosystems evolve, their potential to add value also grows. This has increased the focus on digital solutions to tackle complex business problems. Jinesh helps businesses see the opportunity in this and helps businesses become more efficient and increase performance, using the right solutions.
Some of the key things he focuses on are:
- Helping businesses gain insights from their business data
- Providing complex tax and accounting solutions
- Helping businesses prepare for complex industry developments and changes