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What is Digital Currency and Why Do People Invest in It?

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Cryptocurrencies have rapidly become a significant innovation in the financial world. Unlike traditional currencies issued by governments and central banks, digital currencies operate on decentralized platforms using blockchain technology. This article explains the foundational aspects of digital assets, explaining how they work, their types, and the reasons behind the growing interest in investing in crypto.

What is Blockchain Technology?

Blockchain is the backbone of digital currencies. It is a distributed ledger technology that ensures secure, transparent, and tamper-proof recording of transactions. Each transaction is grouped into a block, which is then linked to the previous block, forming a chain. This chain is maintained across multiple computers, making it impossible to alter past transactions without changing all subsequent blocks and gaining consensus from the majority of the network participants.

How Does Cryptocurrency Work?

Here’s a simplified process of how crypto works:

  • • Transaction initiation. A user initiates a transaction to send digital currency from their wallet to another user’s wallet.
  • • Transaction validation. The transaction is broadcast to a network of computers (nodes) for validation. This is done through consensus mechanisms such as Proof-of-Work (e.g. Bitcoin blockchain) or Proof-of-Stake (e.g. Ethereum blockchain).
  • • Transaction recording. Once validated, the transaction is grouped with others into a block and added to the blockchain.
  • • Ownership transfer. The ownership of the digital currency is transferred from the sender to the receiver, and the transaction is recorded permanently on the blockchain.

Why Do People Invest in Crypto?

• Several factors drive individuals and institutions to invest in cryptocurrencies:

  • • Possibility to gain high returns. The crypto market has witnessed significant price growth, attracting investors looking for high returns.
  • • Diversification. Cryptocurrencies offer a new asset class for portfolio diversification. Investing in crypto helps avoid keeping “all eggs in one basket”.
  • • Innovation and technology. The underlying blockchain technology revolutionizes various industries, from finance to supply chain management.
  • • Decentralization. Cryptocurrencies offer a decentralized alternative to traditional financial systems, appealing to those who prioritize autonomy and control over their assets.
  • • Possibility to participate in building and maintaining the crypto market. Investors often engage with a crypto market making company to ensure liquidity and reduce the volatility of digital assets.

What Types of Digital Assets Exist?

Digital assets come in various forms, each with unique characteristics:

  1. 1. Coins. These include well-known coins like Bitcoin and Ethereum, which operate on their own blockchains.
  2. 2. Tokens. Created on existing blockchains, tokens represent assets or utilities within a specific project or ecosystem.
  3. 3. Stablecoins – cryptocurrencies pegged to the value of a stable asset, such as the US dollar, to minimize price volatility.
  4. 4. Non-fungible tokens (NFTs) – unique digital assets that represent ownership of specific items, such as digital art or collectibles.

In turn, tokens can be divided into:

  • • Utility tokens – provide access to a product or service within a specific blockchain ecosystem. For example, using a utility token to pay for transactions within a decentralized application.
  • • Security tokens – represent ownership or other rights to an underlying asset and are subject to federal securities regulations.

Digital currencies represent a transformative shift in how value is transferred and stored. With various types of digital assets available, there is a broad spectrum of opportunities for investors. Understanding the fundamentals of blockchain and its operation is crucial for anyone looking to get cryptocurrency and invest in this dynamic field.

Business

Upgrades completed at Port of Milford Haven’s simulator suite

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UPGRADES have been completed to state-of-the-art equipment within the Port of Milford Haven’s navigation simulator suite at Milford Waterfront enabling marine professionals to receive bespoke specialist training. The virtual reality simulation system can safely replicate a range of scenarios that seafarers may experience in real world situations such as extreme weather conditions, emergency situations and escort tug work.


The upgrades provided by Netherlands-based company MARIN contain the latest hardware in terms of processing power and graphics, as well as upgrades to MARIN’s ‘Dolphin’ software, increasing the capability to create scenarios. These are complemented with new 4k visuals on 75” screens which increase the depth and field of vision, adding to the realism.

Recently, a training day was led by Training Pilot Captain Mark Johnson, assisted by ex-Pilot Andy Hillier, involving members of the Svitzer team as well as Pilots Matt Roberts and Ian Coombes. As part of the scenario, they were faced with a loss of engine power and steering along with worsening weather and sea conditions. The Pilots had to communicate with Svitzer in order to successfully instruct them on how to tow and direct a drifting tanker. While scenarios like these are uncommon within port operations, it is important to rehearse procedures that would be implemented if they are required and enhances participants’ skill sets.

Marine Pilot and Simulator Instructor, Captain Ewan McNicoll, said “This simulator suite has future proofed our training capabilities, both internally for Pilots and marine staff, but also externally for clients wishing to use the facility, be it for training purposes or research and development. We can create any type of scenario with any type of ship, ranging from practicing ship handling manoeuvres to emergency situations, it really is game changing! Working with our partners at MARIN has been a complete success and I am very proud of our new facility.”

For more information about training at the navigation simulation suite please contact the Port of Milford Haven at [email protected] or 01646 696100.

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Business

Thousands of homes in rural Wales gain from faster 4G boost

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RURAL Wales is seeing a major upgrade in mobile connectivity, with faster 4G now live in several areas. Seven locations across North, South West, and West Wales are benefitting from new 4G mast upgrades funded by the UK Government’s Shared Rural Network (SRN), aimed at closing the digital gap between rural and urban areas.

The upgrades, which went live on Thursday (Nov 14), bring improved 4G coverage to communities including Bontddu, Llanelltyd, Llanarmon Dyffryn Ceiriog, Penmaenpool, Tabor, Snowdonia National Park, and Bontgoch. Local businesses, emergency services, and residents are expected to benefit from faster internet access, which supports daily communication, business opportunities, and economic growth.

There is a £170 million agreement with Openreach to provide gigabit-capable broadband to 70,000 remote Welsh properties

Technology Secretary Peter Kyle said: “Fast, reliable connectivity is essential for modern life and should be available from Cardiff to the remotest parts of Wales. Today’s upgrades bring us closer to making this a reality.”

SUPPORTING DIGITAL INCLUSION

As part of the rollout, Peter Kyle and Telecoms Minister Sir Chris Bryant visited Ebbw Vale to discuss digital inclusion with charity and industry leaders. They met with representatives at BGfm, a digital inclusion hub in Blaenau Gwent, to learn about how connectivity impacts daily life in Welsh communities.

Telecoms Minister Bryant said: “We are working tirelessly to make sure rural communities aren’t left behind online.

“These upgrades mean businesses can now operate without connectivity limitations, 999 services are better equipped to respond, and residents and tourists can stay connected across the Welsh countryside.”

ADDRESSING CONNECTIVITY GAPS

An estimated 1.5 million homes across the UK remain without internet access, limiting people’s ability to access essential services such as banking and healthcare. In addition to the SRN upgrades, the Chancellor has allocated over £500 million in next year’s budget for digital infrastructure expansion, targeting these underserved areas.

Welsh Secretary Jo Stevens highlighted the importance of this investment, particularly for rural Wales, where fast, reliable internet can be transformative.

“Connectivity is critical for day-to-day life in rural areas – from supporting local businesses to ensuring emergency services are just a call away,” Stevens said.

The upgraded masts, previously limited to EE customers and emergency 999 calls, now serve a wider user base, bringing essential internet access to more people without requiring new infrastructure.

Ben Roome, CEO of Digital Mobile Spectrum Limited, said: “With the activation of five new SRN sites, Wales is seeing the tangible benefits of the Shared Rural Network, bringing crucial connectivity to rural communities.”

GOVERNMENT INVESTMENT IN REMOTE WALES

The improvements come alongside a £170 million agreement with Openreach to provide gigabit-capable broadband to 70,000 remote Welsh properties, helping future-proof digital access in even the most isolated locations.

The latest upgrades mark another step in the Government’s mission to improve mobile coverage and close the connectivity gap across Wales, creating opportunities and supporting economic growth across rural communities.

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Business

Pembrokeshire Coast National Park Authority invites businesses to advertise in mag

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As 2024 comes to a close, Pembrokeshire Coast National Park Authority is encouraging local businesses to prepare for the year ahead by reserving advertising space in Coast to Coast, Pembrokeshire’s highly regarded, award-winning visitor magazine.

Launching its 43rd edition in Easter 2025, Coast to Coast provides a prime opportunity for businesses to reach a wide audience, with a readership exceeding one million people.

The bilingual publication, distributed across Pembrokeshire’s busiest locations and parts of Carmarthenshire and Ceredigion during peak tourism months, is a valuable resource for both visitors and residents. From unique products and delicious offerings to exciting experiences, businesses of all types can benefit from the exposure Coast to Coast offers. The magazine is available in hundreds of outlets countywide and has become an essential guide for anyone looking to explore the best of Pembrokeshire.

“Over the years, Coast to Coast has established itself as the must-have summer guide, packed with inspiration for exploring the Park,” said Marie Parkin, Head of Marketing and Communications for the Authority. “In addition to showcasing our visitor attractions such as Carew Castle and Tidal Mill, Castell Henllys Iron Age Village and Oriel y Parc, National Park Discovery Centre, the magazine includes practical information like maps, bus schedules and tide tables.”

“From scenic walks and beach days to rich insights into the Park’s heritage, culture, and wildlife, Coast to Coast offers something for everyone. Our Activities and Events listings ensure families can enjoy a full calendar of experiences,” Marie Parkin added.

With advertising deadlines set for early January 2025, businesses are encouraged to act swiftly to secure their spot and avoid disappointment.

For more information about advertising in Coast to Coast, please contact [email protected] or call 01646 624895.

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