TOWARDS A PERFECT FINANCIAL MANAGEMENT TECHNOLOGY.

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(Edited)

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Struggling to make your way into the banking halls, going through the hurdles of filling papers for account creation, deposits, withdrawals and all, and having to suffer from the incapability of the traditional banking system; the banking systems have at several points failed to live up to its promises and at every level comes turn off which gets us craving for an alternative, we will jump into one–if there was any…

The emergence of financial technologies (FinTech), have since reduced the banking burdens and have added a lot of flexibility to management of funds, unfortunately these technologies have failed to achieve the perfect financial management conditions.
A perfect financial management system give you a total control of your funds, convenience while spending the funds and also an ease to transfer the funds to anywhere, at anytime. Present financial systems fails to achieve any of these and with the poor management of treasury by the world leaders, value of money only continues to see deterioration.

Emerging financial technologies have attempted to tackle these issues, however one have stood out amongst them—The blockchain technology and cryptocurrencies.

The blockchain is an immutable store of records which can be easily assessed by anyone, cryptographically generated currencies (cryptocurrencies) attached to these blockchain depicts the perfect way of fund management. And have since gained global recognition and just a couple of these blockchains and cryptocurrencies claiming to fit into these requirements and very few of them living up to these promises—actually.

Running on the blockchain, these payments technologies have bridged the gaps in financial management system and have solved most notable problems of the financial system, this includes fund security, ability to transfer funds to anywhere in the world with ease and almost zero charges, zero censorship and putting individuals in complete charge of how, where and when they spend their funds.

With a good technology and a reliable security system, these blockchain technologies creates secure storage means for funds. Most cryptocurrency transactions on the blockchain are transparent, hence one can easily track transactions, verify claim and easily detect poor financial management by concerned parties.

In contrast to our everyday currency, the blockchain technology and its traditional cryptocurrencies have provided alternatives which solves most of the issues faced in our contemporary financial management system.
To make a perfect financial management technology, these possibilities must be presented by a blockchain technology.

A reliable spend and receive protocol

Needless to say, in the absence of an algorithm which allows the transfer and reception of a unique asset, the utility of a blockchain is minimal for financial purposes, while such blockchains can still function in storage of information; a financial management technology which hopes to serve the people and replace (or at least augment) existing financial technologies must have a medium of exchange of assets which at least allows its users to move ‘funds' from their own ends to a receiver’s end. Fortunately almost every current project which have a cryptocurrency running on its blockchain have devised a means to allow the spending and receiving of their traditional cryptocurrencies/ tokens.

Optimization of the spend and receive algorithms sets a blockchain project ‘a head above others', while many contemporary blockchains are able to process transfer and reception of assets, many users still faces tangible constraints while using this feature, this steams from the complicated steps required before a transfer request is made and a slow speed of processing transactions. To serve the people better, an optimized means of spending funds is essential.

A light weight technology

Talk about portability? Of course! Present banking financial technologies are focused on providing a portable medium of financial transactions, hence the recent surge of banking applications, bar-code spending system and other web based banking services. The need to provide a portable means of transaction can not be over emphasized as this is a one of the basics of a perfect financial management technology. Recent banking financial technologies have performed considerably well as regards this with many routine transactions being made more convenient through the mobile applications.

With the blockchain concept, the possibility of creating a portable financial system (devoid of external influence) increases. With this technology, the bank runs on the blockchain, hence taking away the need to visit an institution to perform payments and other transactions, creating a convenient becomes even more possible.

A portable blockchain-based financial management system entails a memory friendly and user friendly transaction tools. This includes a light-weight wallet and memory-friendly blockchain protocols which allows easy synchronization and tracking of transaction history, a low weight wallet which is available on all platforms allows convenience while the users performs transactions on the blockchain.

Ability to handle an increasing number of records
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Financial activities is a continuous and routine process, with every day that comes by more transaction records are generated as people continues performing their daily financial activities. Present day banking institutions have developed a means which allows them to keep financial records and allows retrieval of these records when needed.

However, due to periodic inefficiency of this technique there arises cases of missing, mutated and poorly documented financial records; on these instances, the shortcomings of the contemporary financial management systems gets exposed hence an out cry for a more reliable alternative.
A perfect financial management technology comfortably handles this ever increasing records and goes an extra mile by making it very transparent in contrast to banking institutions which requires more rigorous processes to obtain financial records.
In blockchain technology becomes an issue, while many blockchain projects boasts infinite scalability, only very few current blockchains are truly infinite scalable as the memory consumption spikes as more transactions are performed on the blockchain.

A truly infinite scalable blockchain is able to handle an enormous amount of data without a tangible increase in the memory consumption, with the size of many blockchains currently reading in terabytes, continuous data storage becomes an issue at some point as this is poor scalability.

Decentralization and global acceptance of store of value

The banking institution is the biggest third party of contemporary financial system, task with the duty of processing financial transactions and intercepting the sending and receiving parties, the banking institutions takes a huge responsibility and creates centralized financial system. A perfect financial system provides an avenue which allows a transparent means of financial transactions between parties without the influence of third parties. The power lie within the people instead of institutions, hence allowing a communal control of transaction activities. Many blockchain projects boasts decentralization, however with a centralized governance system and an obscure communal influence, most of these projects are hardly decentralized in the real sense as true decentralization exceeds the scope of technology and extends to communal relationships.

A globally accepted currency seems to be an illusion as even cryptocurrencies are converted into fiat before they could be utilized with only a couple of institutions accepting payments in cryptocurrencies and only few cryptocurrencies gaining international recognition for transactions. Nevertheless, the fact that cryptocurrencies can be conveniently sent to anywhere in the world without constraints is a huge step towards a perfect financial system. The ease of sending and receiving these funds cannot be compared to rigours of using the western union transfer and other international fund transfer system.

Pascal coin: Towards A perfect payment system and financial management technology

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Cutting-edge blockchain technologies have emerged over the years and each project have geared its efforts towards achieving at least one of the features of a perfect financial management system, for every project which has a traditional cryptocurrency running on it’s blockchain, a good financial management system is needed to at least allow its users transact over the blockchain. However developing a perfect financial management system on top of the blockchain have posed a huge amount challenge on most of these projects as so many of them do not really need a sophisticated financial management system.

Pascal coin developers while channeling most of their towards developing a reliable smart contract blockchain have also developed a perfect…or near perfect financial management technology with their traditional pascal coin running on the pascal blockchain and exhibiting all the above mentioned features of a perfect financial management system. We take a look at the different protocols and algorithms which enables these features on their blockchain.

A reliable spend and receive protocol

With a transaction speed of 1600TPS, pascal blockchain presents a near instant transactions system, with wallet to wallet transfer taking fewer than ten seconds to complete, this project sets itself apart as one of the fastest blockchains in terms of processing transactions. With a wallet address which is pretty easy to remember (such as 1234–56), and the ability to give a desired name to one’s wallet address, operating an account on the pascal blockchain is as easy as it gets. The sender also has the ability to send encrypted information over the blockchain through the payload system, this enables integration with exchange accounts and many other transaction possibilities.

A light weight technology

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Portability comes from easy to use and memory friendly technologies, a combination of these features enables adopters to use the technology without hassle, apart from exchange of cryptographic assets, the blockchain technology also serves many other purposes, convenient use of these features and hence the blockchain itself also requires that the applications are not memory-intensive as this limits data processing and user friendliness of the technology.

Pascal blockchain once again excels in this aspect with mobile and desktop applications which synchronizes instantly and consumes a relatively little memory on devices which they are installed, users a presented with one of the most portable blockchain applications.

The Pascal BLAISE wallet runs on mobile devices and allows users to perform most activities available on the pascal blockchain while occupying less than 50Mb of their memory space. The classic wallet is also a relatively low memory wallet and both wallets synchronize instantly while ensuring safety of assets and easily accessible features.

Ability to handle a continuously increasing transaction records

If blockchain technology will ever gain mainstream adoption in data storage and management (in the financial management system), then it’s ability to contain a large amount of data and meet up with the ever growing data without increasing reasonably in block size is paramount. New blocks are created every time a transaction is carried out on the blockchain. To achieve infinite scalability, a blockchain must be able to contain a huge number previous of data and also accept more of the constantly increasing data without increasing its block size considerably each time it does this. Blockchain developers strive so hard to achieve this using different techniques such as creating a blockchain whose data occupies very little space. Amidst the flexibility of the data, a large amount of data still occupies much space on the blockchain hence the block size expands considerably as transactions are being carried out on the blockchain. Scalability hence is defeated in this case.

Pascal combines, it’s ‘delible' blockchain, safebox technology and the account seal technology to tackle the infinite scalability issue and holds the ability to hold an infinite amount of data without a tangible increase in the blockchain size. Thus users can comfortably store every financial records and retrieve them whenever they want, records of transactions are also transparent and hence can be traced when needed, by anyone.

Decentralization and Global acceptance of store of value


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While the pascal blockchain itself is perfectly decentralized, the community reigns supreme in decision making and approval of proposals. Every proposal goes through a thorough community assessment and subsequent voting.

If approved by the community, the designated leadership team (selected by the community) carries out the task as Instructed by the community. This includes decisions on project fund expenditure, personnel employment and every decision concerning the project.

Pascal coin (PASC), the traditional cryptocurrency of the pascal blockchain can also be transferred to anywhere provided the recipient has a pascal wallet and a pascal address, transfer of assets is instant.



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