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		<title>Cheesecake Labs: #1 web app development company in Latin America</title>
		<link>https://blog-stg.cheesecakelabs.com/web-app-development-company-in-latin-america/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Wed, 08 Jun 2022 18:29:34 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Culture]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=8118/</guid>

					<description><![CDATA[<p>News just in. Cheesecake Labs is thrilled to announce that we were just ranked the #1 web app development company in Latin America by Clutch. This is a massive honor and one that we&#8217;re excited to share with our clients. Read on to learn more about this ranking and what it means for Cheesecake Labs.&#160; [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/web-app-development-company-in-latin-america/">Cheesecake Labs: #1 web app development company in Latin America</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">News just in. Cheesecake Labs is thrilled to announce that we were just ranked the #1 web app development company in Latin America by </span><a href="https://clutch.co/app-developers/latin-america/leaders-matrix"><span style="font-weight: 400;">Clutch</span></a><span style="font-weight: 400;">. This is a </span><i><span style="font-weight: 400;">massive</span></i><span style="font-weight: 400;"> honor and one that we&#8217;re excited to share with our clients.</span></p>
<p><span style="font-weight: 400;">Read on to learn more about this ranking and what it means for Cheesecake Labs.&nbsp;</span></p>
<p><span id="more-8118"></span></p>
<h2><b>A top choice for nearshore development</b></h2>
<p><span style="font-weight: 400;">For us, one of the most exciting affirmations of the Clutch positioning is that it further evidences Cheesecake Labs’ authority for nearshore development. We’ve always been proud of our nearshore development offer — partnering with companies across the world, but still within the same or similar time zones. But now we’ve got the title of&nbsp;top web app development company in Latin America&nbsp;</span><span style="font-weight: 400;">to support our own beliefs!</span></p>
<p><span style="font-weight: 400;">Cheesecake Labs can provide quality and timely service to our partners (and future partners!) across those time zones close to Latin America — North America, Europe, etc. — as well as in the country itself. Businesses can partner with Cheesecake Labs knowing that they&#8217;re going to get the best of the best when it comes to software design and development services.&nbsp;</span></p>
<p><img fetchpriority="high" decoding="async" class="size-full wp-image-8124 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-15.08.46.png" alt="web app development company in Latin America" width="1313" height="669" srcset="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-15.08.46.png 1313w, https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-15.08.46-768x391.png 768w" sizes="(max-width: 1313px) 100vw, 1313px" /></p>
<h2><b>Web app development company in Latin America: how Clutch ranks companies</b></h2>
<p><span style="font-weight: 400;">To understand why this is such an honor, it&#8217;s important to look at how Clutch ranks companies. Below are the criteria that Cheesecake Labs and its competitors were judged on before being granted this ranking.&nbsp;</span></p>
<h3><b>Ability to deliver</b></h3>
<p><span style="font-weight: 400;">The first metric used to determine Clutch&#8217;s ranking is a business&#8217;s ability to deliver. This metric is divided into three different segments, which you can see broken down below.&nbsp;</span></p>
<h4><b>References and reviews</b></h4>
<p><img decoding="async" class="wp-image-8119 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-11.59.18.png" alt="web app development company in Latin America" width="180" height="203"></p>
<p><span style="font-weight: 400;">Understandably, the most heavily-weighted metric that Clutch considers when ranking a company is the references and reviews that a business receives. This is firsthand experience that customers have with that company, making it incredibly valuable data.&nbsp;</span></p>
<p><span style="font-weight: 400;">Clutch considers factors such as how likely a customer is to recommend a business to their colleagues, how happy they are with their service, and the quality of the deliverables received.&nbsp;</span></p>
<h4><b>Clients and experience</b></h4>
<p><img decoding="async" class="wp-image-8121 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-11.59.54.png" alt="web app development company in Latin America" width="214" height="195"></p>
<p><span style="font-weight: 400;">Next, Clutch looks to the clients and experiences of clients with a particular business. They consider how satisfied clients are as well as how the business delivers on complex project demands.&nbsp;</span></p>
<p><span style="font-weight: 400;">This is done by interviewing past and present clients and reading through case studies from the company. You can check out Cheesecake Labs’ use cases </span><a href="https://blog-stg.cheesecakelabs.com/portfolio/"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p>
<h4><b>Market presence</b></h4>
<p><img decoding="async" class="wp-image-8120 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-12.00.02.png" alt="web app development company in Latin America" width="180" height="188"></p>
<p><span style="font-weight: 400;">Clutch then looks at the market presence of the business. They want to know how clear the marketing information is, how positive the opinion of the company is, whether or not they&#8217;ve received any accolades, if they have a social media presence, and so on.&nbsp;</span></p>
<p><span style="font-weight: 400;">Our blog — jam-packed full of information to help clients understand our development approach and learn the fundamentals — is </span><a href="https://blog-stg.cheesecakelabs.com/blog/"><span style="font-weight: 400;">available to read anytime</span></a><span style="font-weight: 400;">.&nbsp;</span></p>
<h3><b>Areas of focus</b></h3>
<p><img decoding="async" class="wp-image-8122 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-15.03.32.png" alt="web app development company in Latin America" width="866" height="210" srcset="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-15.03.32.png 862w, https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-15.03.32-768x186.png 768w" sizes="(max-width: 866px) 100vw, 866px" /></p>
<p><span style="font-weight: 400;">The second metric used to determine a Clutch ranking is areas of focus. There are one to three areas of focus per company, with each being evaluated with quantitative data.&nbsp;</span></p>
<p><span style="font-weight: 400;">A Clutch analyst will comb through this data and plot it on a matrix, at which point it is compared to the data of other businesses competing for the ranking. It&#8217;s a time-consuming and meticulous process — and one that requires careful consideration.&nbsp;</span></p>
<p><span style="font-weight: 400;">This makes this metric particularly competitive and therefore an even more impressive win for the entire team here at Cheesecake Labs.&nbsp;</span></p>
<h2><b>Feedback from our amazing customers</b></h2>
<blockquote><p><i><span style="font-weight: 400;">&#8220;Cheesecake Labs’ talent is impressive. Their resources are all based in Brazil, and working with Brazilian developers has been a new experience for me. Their work ethic has been unmatched. On top of that, they’re highly educated and serve as experts in the field.&#8221;</span></i></p>
<p><i><span style="font-weight: 400;">&#8220;I’m based in Switzerland, so collaborating with someone across the Atlantic Ocean isn’t easy when it comes to development. However, the team at Cheesecake Labs is impressively well-connected on different communication systems like Slack, Jira, and video conferences. There were no issues. I was miles away, but it felt like their friendly team was sitting in the same room.&#8221;</span></i></p></blockquote>
<h2><b>Thank you for being a part of what makes Cheesecake Labs great!</b></h2>
<p><span style="font-weight: 400;">As proud as we are to be recognized as the best web app development company in Latin America, we couldn&#8217;t have done it without all of the wonderful customers, partners, and clients that make Cheesecake Labs what it is. Thank you for your support — you can look forward to more great service from the team as we grow bigger and better as a digital partner.</span></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/web-app-development-company-in-latin-america/">Cheesecake Labs: #1 web app development company in Latin America</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>Cheesecake Labs: Top 7 mobile app development company worldwide</title>
		<link>https://blog-stg.cheesecakelabs.com/top-7-mobile-app-development-company-worldwide/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Wed, 08 Jun 2022 15:33:27 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Culture]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=8107/</guid>

					<description><![CDATA[<p>Pinch us, because we must be dreaming. Cheesecake Labs has been ranked&#160;as the top 7 mobile app development company&#160;in the world by Clutch. Clutch is the authority for assessing software design and engineering companies. They evaluated over 24,000 organizations on a combination of client reviews, past work, market presence, and specialization before naming Cheesecake Labs [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/top-7-mobile-app-development-company-worldwide/">Cheesecake Labs: Top 7 mobile app development company worldwide</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">Pinch us, because we must be dreaming. Cheesecake Labs has been ranked&nbsp;as the top 7 mobile app development company&nbsp;</span><i><span style="font-weight: 400;">in the world </span></i><span style="font-weight: 400;">by Clutch.</span></p>
<p><span id="more-8107"></span></p>
<p><span style="font-weight: 400;">Clutch is </span><i><span style="font-weight: 400;">the</span></i><span style="font-weight: 400;"> authority for assessing software design and engineering companies. They evaluated over 24,000 organizations on a combination of client reviews, past work, market presence, and specialization before naming Cheesecake Labs on its top&nbsp;seven leaders list.</span></p>
<p><span style="font-weight: 400;">This recognition belongs to our team of over one hundred strategists, designers, engineers, and project managers. They’re the driving force behind our ability to build delightful digital products.</span></p>
<p>&nbsp;</p>
<p><img decoding="async" class=" wp-image-8109 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-08-at-12.09.21.png" alt="" width="509" height="515"></p>
<h2><b>Top 7 mobile app development company: a history of excellence</b></h2>
<p><span style="font-weight: 400;">Since 2013 we’ve built incredible mobile apps — with some even more incredible clients. We’ve collaborated with our partners to build more than two hundred successful tech products solving real-world problems and driving growth for startups and well known enterprises.</span></p>
<p><span style="font-weight: 400;">When our clients’ ideas combine with Cheesecake Labs expertise, something magical happens. We’ve brought innovative technologies to life ranging from intelligent rewards platforms for mobile gamers, to Europe’s first helicopter booking site and blockchain banking solution.</span></p>
<p><span style="font-weight: 400;">The last few years have brought new challenges to every business. More apps have been developed in a shorter timeframe than ever before to accommodate the world’s new ways of working. Our process, speed and efficiency have helped our clients release their app in time to make a difference for their customers.</span></p>
<h2><b>Proud partners for great apps</b></h2>
<p><span style="font-weight: 400;">Happy clients help boost a Clutch score. Here’s what just a small selection of our past customers have said about working with Cheesecake Labs, t</span>he top 7 mobile app development company.</p>
<blockquote><p><i><span style="font-weight: 400;">“Cheesecake Labs has been a valuable partner to us. They’ve guided us through the journey, and the team has been proactive — this is truly important for a company like ours. As first-timers in the IoT world, we’re glad that they approach the project from our perspective. They consider what we don’t know and our challenges, and then they anticipate issues and find solutions for us.”</span></i><span style="font-weight: 400;"> &#8211; <strong>Nan Jiang, VP, Bemis Manufacturing Company</strong></span></p>
<p><i><span style="font-weight: 400;">“Everyone we worked with at Cheesecake was very enjoyable to interact with, and always asked for our input on key design and functionality decisions without being overbearing. Their UI work was very impressive, and they made several great improvements to the functionality that we hadn&#8217;t even thought to ask for”</span></i><span style="font-weight: 400;"> &#8211; <strong>CEO, Retail Investor Platform</strong></span></p></blockquote>
<h2><b>Amazing apps on exciting technologies</b></h2>
<p><span style="font-weight: 400;">To be the top 7 mobile app development company, Cheesecake Labs uses the right technologies, SDKs, frameworks, and platforms to make your application successful on every device it needs to reach.</span></p>
<p><span style="font-weight: 400;">If you’re sprinting to deliver an app for iPhone users and need an iOS native app, our developers speak fluent iOS. If your target is a device-agnostic app for Android phones, then our team of Android experts can’t wait to dig their teeth into it. Over the past 9 years, we’ve done it all, and we’re looking forward to the next challenge.</span></p>
<p><span style="font-weight: 400;">Just look at the pioneering mobile apps we’ve built like Faced which provides Facial Recognition Payment (FRP) systems. We developed and validated the innovative technology using appropriate SDKs ensuring it could run on iOS as smoothly as it ran on Android.</span></p>
<p><span style="font-weight: 400;">Our comfort with frameworks like </span><a href="https://blog-stg.cheesecakelabs.com/blog/flutter-vs-react-native-development/"><span style="font-weight: 400;">React Native and Flutter</span></a><span style="font-weight: 400;"> means we can move swiftly from design through development without having to build everything from scratch. We already use the best-in-class tools. It’s another benefit of dealing with a dedicated mobile app development team.</span></p>
<blockquote><p><i><span style="font-weight: 400;">“I found Cheesecake Labs through Google and hired them after interviewing multiple companies. They were one of the touted companies that had Flutter development as one of their core competencies… Cheesecake Labs’ talent is impressive. &#8230; Their work ethic has been unmatched. On top of that, they’re highly educated and serve as experts in the field.”</span></i><span style="font-weight: 400;"> &#8211; <strong>Collin Goodwin, CTO, Volo Real Estate</strong></span></p></blockquote>
<h2><b>Are you ready to join us?</b></h2>
<p><span style="font-weight: 400;">It’s wonderful here in the top ten, and there’s nothing stopping you from joining us. Whether your idea could streamline your organization’s existing workflows, take advantage of AI, or be the next big thing in Web 3.0, Cheesecake Labs is your technical partner to make your mobile app a reality sooner than you think.</span></p>
<p><span style="font-weight: 400;">Write us</span><a href="https://blog-stg.cheesecakelabs.com/contact/"> <span style="font-weight: 400;">a message</span></a><span style="font-weight: 400;"> or give us a call at (415) 766 8860. One of our consultants will contact you within 24 hours or less.</span></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/top-7-mobile-app-development-company-worldwide/">Cheesecake Labs: Top 7 mobile app development company worldwide</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>How blockchain can reshape the global economy with CBDC</title>
		<link>https://blog-stg.cheesecakelabs.com/blockchain-reshape-global-economy-cbdc/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Mon, 16 May 2022 01:48:12 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7990/</guid>

					<description><![CDATA[<p>The rise of cryptocurrencies over the last few years has been exciting, to say the least. Not only have several innovative digital currencies been developed, but innovative currency solutions as well. And in this post, we&#8217;re looking at one of these innovations: CBDC. We&#8217;ll cover what CBDC is, how it compares to other currencies, and [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/blockchain-reshape-global-economy-cbdc/">How blockchain can reshape the global economy with CBDC</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">The rise of cryptocurrencies over the last few years has been exciting, to say the least. Not only have several innovative digital currencies been developed, but innovative currency solutions as well. And in this post, we&#8217;re looking at one of these innovations: CBDC.</span></p>
<p><span style="font-weight: 400;">We&#8217;ll cover what CBDC is, how it compares to other currencies, and how this quickly maturing tech can be applied in the real world.&nbsp;</span></p>
<p><span id="more-7990"></span></p>
<h2><b>What is CBDC?</b></h2>
<p><b>CBDC is short for Central Bank Digital Currency. It refers to cryptocurrencies that are developed, issued, and managed by a central bank.</b><span style="font-weight: 400;"> If that sounds a bit like traditional, physical money, it&#8217;s because it is.&nbsp;</span></p>
<p><span style="font-weight: 400;">The idea behind CBDC is to have a stable, digital alternative to fiat currencies. While many crypto coins want to replace or work adjacent to traditional currency, CBDC coins are designed to exist in the same space as fiat currency.&nbsp;</span></p>
<p><span style="font-weight: 400;">CBDC coins are typically issued by a governing body&#8217;s bank and are tied to the value of that bank&#8217;s fiat currency 1-to-1.&nbsp;</span></p>
<p><span style="font-weight: 400;">In other words, a country with CBDC coins will have physical coins, paper money, and digital money, all of which follow the same value system and can be spent, earned, and transferred in all of the same ways.&nbsp;</span></p>
<h2><b>CBDC vs. stablecoins vs. fiat currency</b></h2>
<p><span style="font-weight: 400;">Those who are more familiar with cryptocurrency may think that this sounds a bit redundant. After all, isn&#8217;t this what stablecoins already do? And if you can already send fiat currency to someone digitally using an app and a credit card number, why do you need CBDC?</span></p>
<p><b>First, let&#8217;s define each of these terms:</b></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">CBDC is a digital representation of a fiat currency</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">A fiat currency is traditional, state-issued money (the U.S. dollar, for example)</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">A stablecoin is a cryptocurrency whose value doesn&#8217;t fluctuate (so it isn&#8217;t an investment like many cryptocurrencies, but a true currency that you can spend without the value fluctuating)</span></li>
</ul>
<p><span style="font-weight: 400;">Hopefully, that gives you a better idea of what sets these currencies apart. In practice, someone would use a physical fiat currency in most cases, a CBDC when spending fiat currency digitally (as it&#8217;s faster and more cost-effective, especially across borders), and a stablecoin as a separate activity whenever they see fit.&nbsp;</span></p>
<h2><b>The rise of CBDCs</b></h2>
<p><span style="font-weight: 400;">While the idea of a CBDC may be new to many, CBDCs are already beginning to take off. Around the world, national banks and regulators are developing CBDC technology to provide individuals with a cryptocurrency option that isn&#8217;t risky, volatile, or unfamiliar.&nbsp;</span></p>
<p><span style="font-weight: 400;">Here are some of the most promising CBDC endeavors around the world.&nbsp;</span></p>
<h3><b>Bank of Canada: Project Jasper</b></h3>
<p><a href="https://www.bankofcanada.ca/research/digital-currencies-and-fintech/projects/"><span style="font-weight: 400;">Project Jasper</span></a><span style="font-weight: 400;"> was started by the Bank of Canada in 2017 through an experimental partnership between the public and private sectors. The bank is working with distributed ledger technology (DLT) and is leveraging a partnership with private cryptocurrency bodies to better understand how to use DLT.&nbsp;</span></p>
<p><span style="font-weight: 400;">Today, Project Jasper is in the midst of Phase 4. During this phase, the Bank of Canada is working on using the technology to enable cross-border transfers using DLT. This will allow larger sums of money to be transferred more quickly and at a lower cost.&nbsp;</span></p>
<h3><b>Monetary Authority of Singapore: Project Ubin</b></h3>
<p><a href="https://www.mas.gov.sg/schemes-and-initiatives/project-ubin"><span style="font-weight: 400;">Project Ubin</span></a><span style="font-weight: 400;"> is run by the Monetary Authority of Singapore and is another collaborative effort between the public and private sectors. They&#8217;ve also been exploring the practical applications for blockchain and DLT technology, specifically for settling payments and securities.&nbsp;</span></p>
<p><span style="font-weight: 400;">This has been a multi-phase and multi-year effort, with each phase of the project looking at a new and pressing concern. The fifth and final phase of Project Ubin, which ended in 2020, proved the business value of blockchain payment networks by showing that they were more cost-effective and efficient in the workplace, a conclusion it came to by working with the Bank of Canada.&nbsp;</span></p>
<h3><b>The Bahamas: Sand Dollar</b></h3>
<p><span style="font-weight: 400;">The Central Bank of The Bahamas has taken a much more practical approach to the world of CBDC. Rather than experimenting with the technology, it&#8217;s been actively working to bring it to its marketplace.&nbsp;</span></p>
<p><span style="font-weight: 400;">The ultimate goal is for project </span><a href="https://www.sanddollar.bs/"><span style="font-weight: 400;">Sand Dollar</span></a><span style="font-weight: 400;"> to be interoperable with existing payment services channels so that all payments services firms can access the currency.&nbsp;</span></p>
<h2><b>Nigeria&#8217;s eNaira</b></h2>
<p><span style="font-weight: 400;">Another interesting endeavor in the world of CBDC comes in the form of </span><a href="https://enaira.gov.ng/"><span style="font-weight: 400;">Nigeria&#8217;s eNaira</span></a><span style="font-weight: 400;">. eNaira is a CBDC designed to act as a medium of exchange and a store of value, offering better payment prospects for consumers when compared to cash payments.</span></p>
<p><span style="font-weight: 400;">Nigeria is the first country in Africa to launch a CBDC, making this a particularly innovative effort. It&#8217;s also one of the most robust and finished of its kind, with several layers of security, tight control over the supply, and processes in place for distribution.&nbsp;</span></p>
<h3><b>Benefits</b></h3>
<p><span style="font-weight: 400;">There are several benefits to this uniquely developed CBDC.</span></p>
<h4><b>Improve availability and usability of central bank money</b></h4>
<p><span style="font-weight: 400;">eNaira improves the availability and usability of central bank money. By offering a digital alternative to the fiat currency of Nigeria, the Central Bank of Nigeria is helping its citizens make purchases with whatever tools they have at their disposal.&nbsp;</span></p>
<p><span style="font-weight: 400;">It&#8217;s an excellent example of embracing a technology (rather than rejecting or limiting its potential) to provide new opportunities for individuals.&nbsp;</span></p>
<h4><b>Support resilient payment ecosystem</b></h4>
<p><span style="font-weight: 400;">The development of eNaira is also helping to build a more resilient payment ecosystem. By introducing this technology and diversifying how Nigerian money can be spent and invested, </span><b>the country is making strides in strengthening its financial infrastructure.&nbsp;</b></p>
<p><span style="font-weight: 400;">This is helping future-proof the country&#8217;s financial structure, setting up a brighter future for it and its inhabitants.&nbsp;</span></p>
<h4><b>Increase revenue and tax collection</b></h4>
<p><span style="font-weight: 400;">eNaira can be used for tax collection, providing a faster and more accessible solution than traditional methods. And it can increase the revenue collected from taxes by reducing the costs associated with collecting these taxes.&nbsp;</span></p>
<h4><b>Enables direct welfare disbursements to citizens</b></h4>
<p><span style="font-weight: 400;">eNaira has the benefit of being a direct connection for services like welfare disbursements. This allows the service to provide critical resources to individuals </span><b>instantly.</b><span style="font-weight: 400;">&nbsp;</span></p>
<p><span style="font-weight: 400;">Not only that but these resources are delivered via a medium that is more accessible to the average person and more readily spendable, especially as infrastructure continues to be updated.&nbsp;</span></p>
<h2><b>Ukraine&#8217;s CBDC pilot and Cheesecake Labs&#8217; involvement</b></h2>
<p><span style="font-weight: 400;">Our last real-world example of CBDC is one that the Cheesecake Labs team is working on! </span><a href="https://stellar.org/press-releases/ukraine-electronic-hryvnia-pilot-launched-by-tascombank-and-bitt-on-stellar?locale=en"><span style="font-weight: 400;">Ukraine&#8217;s CBDC pilot endeavor through Tascombank</span></a><span style="font-weight: 400;"> is working on launching an electronic version of the Hryvnia, which will allow for the handling of payroll for public sector employees.&nbsp;</span></p>
<p><span style="font-weight: 400;">It&#8217;s packed with the same tight level of control and security as the other examples mentioned in this post, along with some unique features.&nbsp;</span></p>
<h3><b>Uses the Stellar network</b></h3>
<p><span style="font-weight: 400;">Ukraine&#8217;s CBDC is built on </span><a href="https://blog-stg.cheesecakelabs.com/blog/what-is-stellar-and-how-does-it-work/"><span style="font-weight: 400;">the Stellar network</span></a><span style="font-weight: 400;">. Stellar is a blockchain network that allows entities to create cryptocurrency versions of real-world assets.&nbsp;</span></p>
<p><span style="font-weight: 400;">For that reason alone, it&#8217;s a no-brainer to use this platform for CBDC development. It&#8217;s tailor-made for this use case and already has much of the infrastructure in place, allowing the project&#8217;s development to accelerate.</span></p>
<h3><b>Cheesecake Labs is working directly on the pilot as a Stellar Development Foundation partner</b></h3>
<p><span style="font-weight: 400;">Additionally, Cheesecake Labs is a </span><a href="https://www.stellar.org/foundation?locale=en"><span style="font-weight: 400;">Stellar Development Foundation</span></a><span style="font-weight: 400;"> (SDF) partner, giving our team insights and resources perfect for developing this project. Specifically, we&#8217;re supporting the SDF development team in redesigning the integration layer called NUMA.&nbsp;</span></p>
<h2><b>Cheesecake Labs is working with projects around the world to push CBDC and blockchain development</b></h2>
<p><span style="font-weight: 400;">Ukraine&#8217;s CBDC pilot is just one of the many ways Cheesecake Labs pushes innovation in the blockchain sector. You can read more about our innovative approach </span><a href="https://blog-stg.cheesecakelabs.com/blog/"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;"> or reach out to our team today to </span><a href="https://blog-stg.cheesecakelabs.com/contact/"><span style="font-weight: 400;">discuss blockchain opportunities for your organization</span></a><span style="font-weight: 400;">.</span></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/blockchain-reshape-global-economy-cbdc/">How blockchain can reshape the global economy with CBDC</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>How to issue a digital token to solve your business needs</title>
		<link>https://blog-stg.cheesecakelabs.com/tokenomics-digital-token-business-needs/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Thu, 05 May 2022 01:56:52 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7962/</guid>

					<description><![CDATA[<p>If you’ve ever considered issuing a crypto token to help reach your business goals, you may have found yourself navigating the complex world of tokenomics. Learning your way around the digital token space is no easy task. But that’s why we’re here to help! At Cheesecake Labs, we have a proven process to help clients [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/tokenomics-digital-token-business-needs/">How to issue a digital token to solve your business needs</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>If you’ve ever considered issuing a crypto token to help reach your business goals, you may have found yourself navigating the complex world of tokenomics. Learning your way around the digital token space is no easy task. But that’s why we’re here to help!<br />
At Cheesecake Labs, we have a proven process to help clients launch digital tokens, and in this post, we’re going to guide you through the world of tokenomics and tell you everything you need to know.</p>
<p><span id="more-7962"></span></p>
<h2><b>What is Tokenomics?</b></h2>
<p><span style="font-weight: 400;">Tokenomics is a blended word of ‘token’ referring to the crypto token and ‘economics.’</span></p>
<p><span style="font-weight: 400;">Tokenomics is all about how a crypto token is integrated into the economy. </span><b>The token economy addresses all the qualities of a crypto token that make it attractive to investors.</b><span style="font-weight: 400;"> The term has become trendy in recent years and addresses the mathematics and benefits of managing crypto assets.</span></p>
<h3><b>How does The Token Economy fit into the world of Blockchain and Crypto?</b></h3>
<p><span style="font-weight: 400;">Besides looking at how the asset works, </span><b>Tokenomics also considers the psychological or behavioral forces that could impact the asset&#8217;s value in the long term. </b><span style="font-weight: 400;">These aspects can directly impact the way assets organically evolve and how you can integrate tokens into businesses and products.</span></p>
<p><b>Projects with a well-planned and designed token economy have a higher chance of succeeding in the long term because they incentivize people to buy and keep their tokens.</b><span style="font-weight: 400;"> On the other hand, businesses with weak tokenomics will struggle because people often sell their tokens at the first sign of trouble.</span></p>
<h2><b>Incentivization in the Token Economy</b></h2>
<p><span style="font-weight: 400;">We all are driven by incentives. Children attend school because it provides learning opportunities and a better future. </span><b>The world of crypto is full of incentives.</b><span style="font-weight: 400;"> While crypto assets have captivated the world with promises of economic opportunity, those opportunities still aren’t completely tangible.</span></p>
<p><span style="font-weight: 400;">Let’s look at The Stellar Network’s token,</span><a href="https://www.stellar.org/lumens"> <span style="font-weight: 400;">Lumens</span></a><span style="font-weight: 400;">, as an example. Lumens are used to make trading on the blockchain-based distributed ledger easier. You can efficiently trade Lumens at a fraction of a dollar cent which lowers their carbon footprint. That smaller carbon footprint incentivizes some users to choose Lumens for their transactions over other options.</span></p>
<h2><b>Defining the core aspects of your digital asset</b></h2>
<p><span style="font-weight: 400;">When preparing to launch a digital asset, there are a handful of questions you need to ask yourself (or your blockchain development partner) to help further define the asset. Let’s take a look at some of the things you need to consider.&nbsp;</span></p>
<h3><b>Decide how much control you want over the asset and the market</b></h3>
<p><span style="font-weight: 400;">Different assets have different levels of authorization. These authorization levels are dictated by the asset’s intended application and the blockchain network you’re using. </span><b>Tokens can be tightly controlled, or you can allow users to independently manage blockchain processes themselves.</b><span style="font-weight: 400;">&nbsp;</span></p>
<p><span style="font-weight: 400;">For example, someone launching an asset in the Stellar network may configure it to maintain tight control. This means that they might individually approve each transaction and even carry out</span><a href="https://developers.stellar.org/docs/glossary/clawback/"> <span style="font-weight: 400;">clawback operations</span></a><span style="font-weight: 400;"> to enforce regulation and safety.</span></p>
<p><span style="font-weight: 400;">On the other hand, you can let users interact with the asset themselves. With this option, users also control the mechanisms built to support it. This means that they work together towards a common goal — sustaining themselves as asset holders.&nbsp;</span></p>
<h3><b>How should the supply be managed?</b></h3>
<p><span style="font-weight: 400;">Depending on your use case, you can launch an asset with a fixed limited supply or a dynamic supply. Fixed supplies give you a clear idea of asset scarcity. With a dynamic supply you can control the circulation of your token depending on your strategy. You can mint new tokens to increase supply or burn tokens to remove supply from circulation.</span></p>
<p><span style="font-weight: 400;">Stablecoins tie the value of the cryptocurrency to more stable assets, like fiat currencies. With stable tokens, a ‘reserve’ is set up securely by a transparent audited account. The asset or basket of assets supporting the stable coin is stored securely in this reserve.&nbsp;</span></p>
<p><span style="font-weight: 400;">Let’s look at </span><a href="https://www.centre.io/usdc"><span style="font-weight: 400;">USD Coin</span></a><span style="font-weight: 400;"> as an example. USD Coin or USDC is a stable coin that is a tokenized version of the US Dollar. Here’s how it works:</span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Users send US dollars to the coin issuer’s bank account</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">The issuer then uses a USD Coin smart contract to create (or mint) the same amount of USDC</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">These minted UDS Coins are sent to the user, and the fiat currency they sent in is held in a reserve</span></li>
</ul>
<h4><b>How do assets inflate and deflate in Tokenomics?</b></h4>
<p><span style="font-weight: 400;">In the open market, asset prices fluctuate according to their use. Certain projects keep a steady rate when launching new assets. They are distributed according to the rules set in the project.</span></p>
<p><span style="font-weight: 400;">Or you can manage supply through burning and minting, which you can then use to control the inflation and deflation of assets.</span></p>
<p><span style="font-weight: 400;">Here’s how burning and minting work:</span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Demand increases when you burn (or use) tokens</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Supply increases when you mint (or create) tokens</span></li>
</ul>
<p><span style="font-weight: 400;">So, burning and minting create a simple supply and demand relationship — if you want to control the inflation of your asset, you want more tokens to be burned or used. If you&#8217;re going to deflate your asset, you want to create or mint new tokens. Asset</span></p>
<h4><b>How to issue your assets: initial markets and distribution</b></h4>
<p><span style="font-weight: 400;">When you launch a crypto asset you need to decide beforehand if you’ll let your asset grow organically or if you want to control the initial offering and price at launch.</span></p>
<p><span style="font-weight: 400;">Here are some ways you could approach market distribution:</span></p>
<ul>
<li style="font-weight: 400;"><b>Controlling the initial distribution of the market. </b><span style="font-weight: 400;">This can be done by controlling the way users can purchase and consume the asset together with the price and value. The asset creator can control the initial distribution via an app, service, or smart contract. Trading the assets for goods is another option.</span></li>
<li style="font-weight: 400;"><b>Creating an “early adopters” program as a means of pre-distribution. </b><span style="font-weight: 400;">This could be done via airdrops, which involves sending free tokens or coins to wallet addresses in exchange for a small service, like tweeting a post promoting the company issuing the currency, or by launching ICOs or Initial Coin Offerings.</span></li>
<li style="font-weight: 400;"><b>Setting up an initial market with a liquidity pool or more.</b><span style="font-weight: 400;"> Liquidity pools are virtual trading places where tokens are purchased and sold. A liquidity pool refers to a basket of tokens locked in a smart contract. The pool allows cryptocurrency trading by providing users with an easy way to swap tokens with each other.&nbsp;</span></li>
</ul>
<p><span style="font-weight: 400;">&nbsp;</span><b>Which networks should you use?</b></p>
<p><span style="font-weight: 400;">The blockchain network you choose will have a direct impact on your token and how it’s used. Here are a few things to consider when choosing a network.</span></p>
<ul>
<li style="font-weight: 400;"><b>How user-friendly is the network?</b><span style="font-weight: 400;"> In a developed ecosystem, there are more sources and tools for users if they ever get stuck and need some help.</span></li>
<li style="font-weight: 400;"><b>What is the cost to transact?</b><span style="font-weight: 400;"> Each network has a different way they charge for transactions. For example, the Ethereum blockchain can have high transaction fees during peak times. This happens because each transaction cost is directly affected by the amount and complexity of its smart contracts. So, these smart contracts are operating in addition to these regular transactions.</span></li>
<li style="font-weight: 400;"><b>How can you program assets?</b><span style="font-weight: 400;"> Each blockchain will handle programming assets differently. Networks like Ethereum or BSC use scripted smart contracts. These allow you to create complex codes and applications in the blockchain. The </span><a href="https://www.stellar.org/?locale=en"><span style="font-weight: 400;">Stellar</span></a><span style="font-weight: 400;"> network operates differently. Stellar focuses on being a payment system that keeps transaction costs low and allows users to implement light core behaviors for stable and quick performance. The network you choose should help you program assets in a way that works best for you.</span></li>
<li style="font-weight: 400;"><b>How elaborate is the implementation process? </b><span style="font-weight: 400;">You should consider the level of complexity involved in integrating a product integration into the network. It is also important to consider the level of control a company has over its assets and markets.&nbsp;</span></li>
</ul>
<p><b>Stay on top of regulations</b></p>
<p><span style="font-weight: 400;">All aspects of the token economy must be in accordance with local regulations. In the US, this means complying with federal and state laws. Crypto is still a relatively new technology — but it’s evolving at a fast pace.</span><b> As cryptocurrency becomes more popular, legal requirements are bound to change, so it’s important to keep up to date on the latest regulations.&nbsp;</b></p>
<h2><b>Partner with Cheesecake Labs for all things blockchain</b></h2>
<p><span style="font-weight: 400;">Now that you know the basics of the token economy and the process of issuing your own token, you’re ready to take the next step. If you’re looking for a partner in all things blockchain development, the </span><a href="https://blog-stg.cheesecakelabs.com/en/"><span style="font-weight: 400;">Cheesecake Labs </span></a><span style="font-weight: 400;">team of experts is ready to help! </span><a href="https://blog-stg.cheesecakelabs.com/contact/"><span style="font-weight: 400;">Get in touch</span></a><span style="font-weight: 400;"> with us to learn more about how we can help you launch your own digital asset.&nbsp;</span></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/tokenomics-digital-token-business-needs/">How to issue a digital token to solve your business needs</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>What is Stellar and how does it work?</title>
		<link>https://blog-stg.cheesecakelabs.com/what-is-stellar-and-how-does-it-work/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Thu, 20 Jan 2022 12:06:18 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7923/</guid>

					<description><![CDATA[<p>At Cheesecake Labs we’ve recently become an integration partner with Stellar and have been excitedly diving into Stellar development. We’ve had to learn all about the technology from Stellar’s engineering and business teams in order to help our clients leverage Stellar’s blockchain. So we’ve put together a little crash course on Stellar, how it works, [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/what-is-stellar-and-how-does-it-work/">What is Stellar and how does it work?</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">At Cheesecake Labs we’ve recently become an integration partner with Stellar and have been excitedly diving into Stellar development. We’ve had to learn all about the technology from Stellar’s engineering and business teams in order to help our clients leverage Stellar’s blockchain. So we’ve put together a little crash course on Stellar, how it works, and some of the features of the technology.&nbsp;</span></p>
<p><a href="https://www.stellar.org/?locale=en"><span style="font-weight: 400;">Stellar</span></a><span style="font-weight: 400;"> is a cryptocurrency-adjacent technology. Similar to cryptocurrencies like Bitcoin, it’s a system for sending and processing currencies digitally.&nbsp;</span></p>
<p><span style="font-weight: 400;">Unlike Bitcoin, however, the value of Stellar is not in its bespoke currency. Stellar is not trying to get users to invest in “the coin of the future.” Instead, it’s a tool for facilitating transactions in any fiat currency digitally. Kind of like PayPal, but simpler, faster, and more affordable.&nbsp;</span></p>
<p><span style="font-weight: 400;">To be clear, Stellar </span><i><span style="font-weight: 400;">does</span></i><span style="font-weight: 400;"> have its own cryptocurrency: </span><a href="https://www.stellar.org/lumens"><span style="font-weight: 400;">Lumens</span></a><span style="font-weight: 400;">. However, this is only used to initialize accounts and make transactions.&nbsp;</span></p>
<p><span id="more-7923"></span></p>
<h2><b>Who is SDF and how was Stellar created?</b></h2>
<p><span style="font-weight: 400;">The </span><a href="https://www.stellar.org/foundation?locale=en"><span style="font-weight: 400;">Stellar Development Foundation</span></a><span style="font-weight: 400;"> (SDF) is the organization that maintains and grows the Stellar blockchain, network, and user base. It’s a non-profit group and, critically, does not own Stellar. Stellar, like many decentralized cryptocurrencies, isn’t owned by anyone in particular. Like the internet, you “own” it just by using it.&nbsp;</span></p>
<p><span style="font-weight: 400;">Stellar was created in 2014 by David Mazières, Joyce Kim, and Ripple co-founder Jed McCaleb. Eventually, Stripe co-founder Patrick Collision joined them to help form the SDF to manage the Stellar network. Stripe also provided the initial funding required to bring Stellar to market.&nbsp;</span></p>
<p><span style="font-weight: 400;">Today, you can find Stellar’s source code on Github. You’ll also find several banks and businesses using the Stellar network in a variety of ways.&nbsp;</span></p>
<h2><b>How does Stellar work?</b></h2>
<p><span style="font-weight: 400;">At its core, Stellar is a blockchain network. In the same way that Bitcoin and Ethereum have their blockchains, so too does Stellar. Lumens, which are the cryptocurrency associated with Stellar, are not the same thing as Stellar itself. They’re the coin that’s traded over the Stellar network, but the value of Stellar is in its blockchain.&nbsp;</span></p>
<h3><b>So what makes Stellar’s network so special?</b></h3>
<p><span style="font-weight: 400;">In short, Stellar allows users to create their own tradable tokens. Unlike Bitcoin’s blockchain, which is exclusively used for the trading of Bitcoin, Stellar is built to trade tokens. These tokens are essentially digital representations of other assets or currencies.&nbsp;</span></p>
<p><span style="font-weight: 400;">For example, say you wanted to trade bricks for wheat. On the Stellar network, you could specify how many tokens each brick is worth, then how much each bushel of wheat is worth. Two parties can then trade them back and forth digitally, using the tokens you choose as the medium of exchange.&nbsp;</span></p>
<p><span style="font-weight: 400;">This can apply to trading hours, art, existing fiat currencies like Euros or US dollars, or even a company/community-specific token.&nbsp;</span></p>
<p><span style="font-weight: 400;">It’s this versatility – powered by a fast, cheap and energy-efficient blockchain – that makes Stellar so powerful. This unique token system makes Stellar excel at things like cross-border payments and low-cost transfers.&nbsp;</span></p>
<p><span style="font-weight: 400;">What is the Stellar Consensus Protocol (SCP)?</span></p>
<p><span style="font-weight: 400;">The Stellar Consensus Protocol (SCP) is a way of proving Stellar’s ledger. It’s what verifies transactions through the Stellar network.&nbsp;</span></p>
<p><span style="font-weight: 400;">Stellar uses the first </span><a href="https://towardsdatascience.com/federated-byzantine-agreement-24ec57bf36e0"><span style="font-weight: 400;">Federated Byzantine Agreement</span></a><span style="font-weight: 400;">, which allows individuals to verify transactions. This is a first, as previous systems relied on a single entity to verify transactions or everyone using the system. FBA technology streamlines this process without compromising security, making it far faster than other systems.&nbsp;</span></p>
<h3><b>How can you issue your own assets on Stellar?</b></h3>
<p><span style="font-weight: 400;">Anyone can create their own assets with Stellar. And it’s a very simple process! Creating custom assets is baked into Stellar’s core as a </span><a href="https://developers.stellar.org/docs/issuing-assets/how-to-issue-an-asset/#:~:text=There%20is%20no%20dedicated%20operation,the%20asset%20on%20the%20network."><span style="font-weight: 400;">native feature</span></a><span style="font-weight: 400;">. You don’t have to worry about complicated smart contracts. All you have to do is create a transaction with your desired asset. Once that transaction is processed, your custom asset is added to the Stellar network.&nbsp;</span></p>
<p><span style="font-weight: 400;">Stellar also makes it easy to connect your assets to a decentralized exchange (DEX) or a liquidity pool.</span></p>
<h3><b>How can you trade tokens peer-to-peer on Stellar?</b></h3>
<p><span style="font-weight: 400;">Any token on the Stellar network can be traded with any other token. That’s because Stellar uses Lumens as the medium of exchange. This allows you to send any currency you like and have it arrive as another currency. Conversion isn’t a secondary step — it happens during the transaction itself.&nbsp;</span></p>
<h3><b>What are anchors?&nbsp;</b></h3>
<p><span style="font-weight: 400;">On the Stellar network, anchors refer to financial institutions and businesses that allow users to make transactions with traditional fiat currency over the Stellar network. This includes banks, stores, retailers, and more, creating tokens and avenues for consumers to make transactions through Stellar.&nbsp;</span></p>
<h3><b>How can businesses around the world connect through the Stellar network?</b></h3>
<p><span style="font-weight: 400;">Stellar makes cross-border payments possible without the need for traditional wire transfers, which are slow and costly. Using tokens and anchors, businesses and individuals can transact with one another. Transactions are carried between two points by anchors to make the transaction as fast and affordable as possible.&nbsp;</span></p>
<h3><b>How can businesses leverage their potential with the Stellar network?</b></h3>
<p><span style="font-weight: 400;">Businesses all over the world are already making use of the Stellar network in a variety of ways. </span><a href="https://satoshipay.io/"><span style="font-weight: 400;">SatoshiPay</span></a><span style="font-weight: 400;"> uses Stellar to replace ads on its content with micro-transactions. </span><a href="https://www.saldo.com/"><span style="font-weight: 400;">Saldo</span></a><span style="font-weight: 400;"> helps migrant workers support family members back home. </span><a href="https://www.vibrant.io/"><span style="font-weight: 400;">Vibrant</span></a><span style="font-weight: 400;"> allows people in areas like Argentina, which don’t have a stable fiat currency, to quickly and cheaply convert their currency into a stable option.&nbsp;</span></p>
<h2><b>What does the future of Stellar look like?</b></h2>
<p><span style="font-weight: 400;">Stellar and the SDF’s goal is to bring about a future where spending money is faster, more affordable, and more widely available to everyone. Stellar’s recently announced </span><a href="https://www.forbes.com/sites/ninabambysheva/2021/10/06/moneygram-partners-with-ripple-competitor-stellar-will-settle-transactions-with-usdc-stablecoin/?sh=198ca9b84db4"><span style="font-weight: 400;">partnership with Moneygram</span></a><span style="font-weight: 400;"> will help enable cash funding and payouts in multiple currencies, all through the Stellar blockchain. MoneyGram’s position as one of the largest money transfer services in the world will no doubt bolster Stellar’s popularity and promote wider adoption.&nbsp;</span></p>
<p><span style="font-weight: 400;">The world is already running on a modern digital economy. It’s time our spending caught up, and Stellar is on track to make that transition easier for everyone. </span></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/what-is-stellar-and-how-does-it-work/">What is Stellar and how does it work?</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>Why are custodial solutions important for Crypto-related businesses?</title>
		<link>https://blog-stg.cheesecakelabs.com/custodial-solutions-crypto-businesses/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Tue, 18 Jan 2022 09:20:21 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7913/</guid>

					<description><![CDATA[<p>Over the last few years, it’s become clear that cryptocurrency and blockchain technology represents one of the best opportunities, both for the market at large and specifically for financial institutions.&#160;But with this opportunity comes a substantial amount of risk. It’s an innovative technology in the financial sector, which has made it a target for fraud. [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/custodial-solutions-crypto-businesses/">Why are custodial solutions important for Crypto-related businesses?</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">Over the last few years, it’s become clear that cryptocurrency and blockchain technology represents one of the best opportunities, both for the market at large and specifically for financial institutions.&nbsp;</span><span style="font-weight: 400;">But with this opportunity comes a substantial amount of risk. It’s an innovative technology in the financial sector, which has made it a target for fraud. Additionally, a lack of knowledge on the part of individuals has led to people using it or avoiding it without fully understanding how it works.&nbsp;</span><span style="font-weight: 400;">This post will cover the differences between custodial solutions and non-custodial crypto wallet solutions and how each can help institutions provide security to their customers.&nbsp;</span></p>
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<h2><b>What are custodial solutions and non-custodial solutions for crypto wallets?</b></h2>
<p><span style="font-weight: 400;">Custodial and non-custodial solutions for crypto wallets refer to how a person’s access to their crypto is secured. Individuals don’t have the actual “files” containing their cryptocurrency, just like they don’t have the gold their fiat currency represents.&nbsp;</span></p>
<p><b>Instead, a person has access keys.</b><span style="font-weight: 400;">&nbsp;These keys are a type of PIN that gives the person access to make transactions with their crypto wallet. If they buy five crypto coins, those coins aren’t downloaded to their wallet. Instead, a transaction with those coins is registered in the blockchain associating them with a public key that represents the wallet. The public key shows that you own five crypto coins while the private key allows you (and only you) to move those coins around.</span></p>
<p><b>These access keys are how cryptocurrencies are traded, spent, and acquired, and they’re one of the core innovations of cryptocurrency.&nbsp;</b></p>
<p><span style="font-weight: 400;">However, they can also pose some issues. For instance, if someone finds out the access code to your wallet, they now have just as much access to your cryptocurrency as you do. Likewise, forgetting that your access code is akin to losing your money.&nbsp;</span></p>
<p><b>When a person has total control and responsibility for their access keys, this is known as a non-custodial wallet. It’s up to them to make sure they remember and secure their access code(s).</b><span style="font-weight: 400;">&nbsp;</span></p>
<p><span style="font-weight: 400;">When a person&nbsp;</span><i><span style="font-weight: 400;">doesn’t</span></i><span style="font-weight: 400;">&nbsp;hold responsibility for their access keys, this is known as a custodial wallet. Typically, an app like Coinbase or Guarda will keep track of the access keys for the person conducting trades on their behalf.&nbsp;</span></p>
<p><b>You can think of a custodial wallet as letting Amazon hold the PIN to your debit card, so that you can make purchases very conveniently — while a non-custodial wallet is more like only you knowing the PIN and inputting it manually for every purchase.</b></p>
<h2><b>Why is security a critical factor when it comes to digital asset custody?</b></h2>
<p><span style="font-weight: 400;">We touched on it briefly in the introduction, but calling security a “critical factor” of digital assets is an understatement. Cryptocurrency is a prime target for all sorts of digital fraud. That target only gets more prominent thanks to most individuals’ limited understanding of cryptocurrencies.&nbsp;</span></p>
<p><span style="font-weight: 400;">Here are just a few of the concerns that stem from digital asset custody.&nbsp;</span></p>
<h3><b>It is impossible to undo transactions&nbsp;</b></h3>
<p><span style="font-weight: 400;">By design, you can’t undo cryptocurrency transactions.</span><b>&nbsp;If someone finds your access key and uses it to send themselves all of your crypto, that crypto is as good as gone.&nbsp;</b><span style="font-weight: 400;">There is no way to cancel the transaction or quickly undo it.&nbsp;</span></p>
<p><span style="font-weight: 400;">This is hardcoded into blockchain technology, and it’s part of what makes cryptocurrency so secure. By making the blockchain immutable, it can be the most transparent and reliable ledger ever invented.&nbsp;</span></p>
<p><span style="font-weight: 400;">The drawback of this is that blockchain’s rigidity means accidents and thefts can’t be undone. That’s why it’s crucial that preventative measures are effective and implemented with discipline.&nbsp;</span></p>
<h3><b>Crypto keys are as valuable as the assets themselves</b></h3>
<p><span style="font-weight: 400;">Another pertinent risk with digital asset custody is the value of access keys.&nbsp;</span><b>Having access to someone else’s access keys is&nbsp;</b><b><i>almost</i></b><b>&nbsp;the same as having access to someone’s credit card and PIN.&nbsp;</b></p>
<p><span style="font-weight: 400;">The difference is that access keys are even&nbsp;</span><i><span style="font-weight: 400;">more</span></i><span style="font-weight: 400;">&nbsp;valuable because there are no protections for individuals whose access keys have been stolen. Most cryptocurrencies are decentralized, so there are no governing bodies or organizations to refund you or investigate fraud on your behalf.&nbsp;</span></p>
<p><span style="font-weight: 400;">In other words, keys give you total access to a person’s cryptocurrency, which means they’re just as valuable as the digital assets themselves.&nbsp;</span></p>
<h3><b>The permanent nature of crypto makes it a target for fraud</b></h3>
<p><span style="font-weight: 400;">Lastly, the permanent nature of crypto makes it an even bigger target for fraud. That’s because there are almost no consequences (at least at this time) for scamming/stealing someone’s digital assets.&nbsp;</span></p>
<p><b>These transactions can’t be undone, it’s nearly impossible to determine who committed the theft, and there are few legislative protections anywhere in the world.&nbsp;</b></p>
<h2><b>Real-world example: Why BitGo custodial services are secure</b></h2>
<p><span style="font-weight: 400;">As you may have noticed, many of the risks surrounding digital assets are tied to non-custodial storage. When you store assets with custodial solutions, an organization keeps track of your key(s) for you. This means it’s far less likely someone will steal your assets.</span></p>
<p><span style="font-weight: 400;">For example, let’s look at BitGo. BitGo is a digital wallet for storing Bitcoin, which, as we’ve covered, actually means storing access keys.&nbsp;</span><b>It holds them in a way that’s more secure and convenient than what most users could accomplish without it.&nbsp;</b></p>
<p><span style="font-weight: 400;">When using BitGo, all of a user’s crypto transactions are funneled through BitGo’s service. This means that users never need to see or access their keys, keeping them safe from prying eyes.&nbsp;</span></p>
<p><span style="font-weight: 400;">Additionally, BitGo keeps access to your crypto behind a multi-signature account. This means that the user gets a key, and BitGo gets a key, and you need both to make a transaction. Similar to two-factor authentication,&nbsp;</span><b>this adds an extra layer of security.&nbsp;</b></p>
<h2><b>Crypto custody risks</b></h2>
<p><span style="font-weight: 400;">As BitGo shows, custodial solutions can add extra layers of security that the average user won’t get any other way. However, custodial solutions are not wholly without risk. Below are a few concerns to consider when looking at custodial options.&nbsp;</span></p>
<h3><b>Confidentiality</b></h3>
<p><span style="font-weight: 400;">First and foremost, a custodial wallet introduces a third party to your cryptocurrency transactions. This, in theory, reduces the anonymity that comes with most cryptocurrencies. That might not be a big deal for most users because putting your trust in a custodial wallet is similar to putting your trust in a traditional bank.&nbsp;</span></p>
<p><span style="font-weight: 400;">However, for many users, the confidentiality that cryptocurrency can provide is one of its key selling points.&nbsp;</span><b>So it’s valuable to keep in mind that confidentiality is something you may be sacrificing with custodial services.&nbsp;</b></p>
<h3><b>Availability</b></h3>
<p><span style="font-weight: 400;">With custodial services, you trust the custodial provider to make your keys available.&nbsp;</span><b>If they go out of business, are hacked, or simply close their proverbial doors every evening, then you lose access to your keys and funds.&nbsp;</b></p>
<h3><b>Integrity</b></h3>
<p><span style="font-weight: 400;">Users also depend on custodial services to keep their keys in working order.</span><b>&nbsp;If the files containing a person’s keys are deleted, corrupted, or lost, then so are your funds.</b><span style="font-weight: 400;">&nbsp;For that reason, it’s essential to choose a custodial platform that you trust.&nbsp;</span></p>
<p><span style="font-weight: 400;">Many newer custodial services offer reimbursements up to a specific limit, similar to a bank, but these are not necessarily standard or comprehensive.&nbsp;</span></p>
<h2><b>The best crypto custody providers of 2021</b></h2>
<h3><b>Gemini</b></h3>
<p><a href="https://www.gemini.com/"><span style="font-weight: 400;">Gemini</span></a><span style="font-weight: 400;">&nbsp;is a highly compliant, highly secure custodial solution. It stores users’ keys in military-grade storage facilities and is geared towards institutional crypto investors.&nbsp;</span></p>
<h3><b>Coinbase Custody</b></h3>
<p><a href="https://www.coinbase.com/"><span style="font-weight: 400;">Coinbase</span></a><span style="font-weight: 400;">&nbsp;is one of the oldest and most trusted names in crypto. Its custody services are not only high-grade and reliable but are also backed by insurance and simple interfaces.&nbsp;</span></p>
<h2><b>Cheesecake Labs can help you navigate all of your cryptocurrency needs</b></h2>
<p><span style="font-weight: 400;">If you’re looking for support in cryptocurrency investing, development, or integration, we can help. The team at Cheesecake Labs not only has a deep understanding of and excitement for blockchain, but we have the technical know-how to help you embrace it.&nbsp;</span><a href="https://blog-stg.cheesecakelabs.com/br/contato/"><span style="font-weight: 400;">Reach out to our team today!</span></a></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/custodial-solutions-crypto-businesses/">Why are custodial solutions important for Crypto-related businesses?</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>IoT innovation: what’s behind the rise of IoT &#038; how CKL approaches IoT development</title>
		<link>https://blog-stg.cheesecakelabs.com/iot-innovation-whats-behind-rise-iot/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Wed, 15 Dec 2021 12:04:42 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Design]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7885/</guid>

					<description><![CDATA[<p>IoT&#160;innovation&#160;has been steadily emerging for the last decade. But in the coming years, it’s poised to take over&#160;big time. Where smart speakers were once in&#160;6.6% of US households&#160;in 2016 and&#160;32% in late 2018, that number is expected to rise to&#160;75% of homes by 2025&#160;—&#160;and that’s just one example of this rapidly growing sector. With the [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/iot-innovation-whats-behind-rise-iot/">IoT innovation: what’s behind the rise of IoT &#038; how CKL approaches IoT development</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">IoT&nbsp;innovation&nbsp;has been steadily emerging for the last decade. But in the coming years, it’s poised to take over&nbsp;</span><i><span style="font-weight: 400;">big time</span></i><span style="font-weight: 400;">. Where smart speakers were once in&nbsp;</span><a href="https://speakergy.com/smart-speakers-statistics/"><span style="font-weight: 400;">6.6% of US households</span></a><span style="font-weight: 400;">&nbsp;in 2016 and&nbsp;</span><a href="https://techcrunch.com/2018/09/10/32-of-u-s-consumers-now-own-a-smart-speaker-up-from-28-at-start-of-year/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAEkfiXd8l3nYjnNo7M0AltSKOj_RS2qsuyukYu8d50l-YWMahEmbyeGk4ZeChkCB6cCnlS1p-L7CaJWBaK-hKeTT5og8e8GTiXybr6nwdeZ9BsywlNI35RMHq2FewGrhxAHSvkC58lrN7uRuXMZI18LEMNmnx8Lk_fhur3i5P_xk"><span style="font-weight: 400;">32% in late 2018</span></a><span style="font-weight: 400;">, that number is expected to rise to&nbsp;</span><a href="https://voicebot.ai/2019/06/18/loup-ventures-says-75-of-u-s-households-will-have-smart-speakers-by-2025-google-to-surpass-amazon-in-market-share/"><span style="font-weight: 400;">75% of homes by 2025</span></a><span style="font-weight: 400;">&nbsp;—&nbsp;and that’s just one example of this rapidly growing sector.</span></p>
<p><span style="font-weight: 400;">With the network of devices expanding and becoming more commonplace in daily settings, the interconnected &#8220;world of the future&#8221; is shaping up around us. And it’s this rapid IoT transformation that&#8217;s paving the way for new innovations and possibilities —&nbsp;as well as fresh competitive advantage for brands who jump on board.</span></p>
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<h2><span style="font-weight: 400;">The marketplace is primed for IoT</span></h2>
<p><span style="font-weight: 400;">To be clear, this surge in IoT interest is by no means an accident. Careful advancements, launches, and adoption rates have led to this sustained growth for the IoT marketplace. Below are a few of the key factors that have made IoT opportunities possible.&nbsp;</span></p>
<h3><b>5G is everywhere</b></h3>
<p><span style="font-weight: 400;">With massive companies like Apple embracing IoT innovation and bringing it to the masses, it&#8217;s only a matter of time before 5G technology and its possibilities become mainstream. That’s because several aspects of 5G make it an excellent catalyst for IoT.</span></p>
<p><span style="font-weight: 400;">For one, 5G allows for far faster, more widely available mobile connectivity. This is crucial for many IoT deployment cases. And as more people move to 5G networks and leave current LTE and 4G networks behind, there will also be more low-power network bandwidth available for IoT devices.&nbsp;</span></p>
<p><span style="font-weight: 400;">Equally as important, 5G&#8217;s high-data throughput allows for more complex computing to happen over telecom networks. This will pave the way for more intricate IoT solutions, akin to what we&#8217;re used to on personal computers.&nbsp;</span></p>
<h3><b>People are getting used to the concept of IoT</b></h3>
<p><span style="font-weight: 400;">Another factor helping to push IoT tech forward is the normalization of IoT. Smart speakers, digital automation, and smart home devices have all started to penetrate the market in a significant way.&nbsp;</span></p>
<p><span style="font-weight: 400;">It&#8217;s been slower than some may have predicted, sure, with many of these devices having existed for more than five years. But that can’t take away from the fact that&nbsp;</span><b>market adoption is happening on a&nbsp;</b><b><i>massive</i></b><b>&nbsp;scale, especially among older Millennials</b><span style="font-weight: 400;">&nbsp;(the 30-44 age group leads the way for use of smart TVs, smart speakers, smart security,&nbsp;</span><a href="https://www.statista.com/statistics/799584/united-states-smart-home-device-survey-by-age/"><span style="font-weight: 400;">and more</span></a><span style="font-weight: 400;">).&nbsp;</span></p>
<p><span style="font-weight: 400;">The global pandemic has likely played a large role in adjusting people to the idea of hyper-connected services and devices too. Who hasn&#8217;t depended on digital-first services to get food, interact with loved ones, banking, telecommute to work/school, or speak to a healthcare provider over the last year?&nbsp;</span></p>
<p><span style="font-weight: 400;">This is likely driving the normalization of IoT innovation at an even faster pace, which is a net positive for the industry as well as individuals.&nbsp;</span></p>
<h3><b>There is more data and data-sharing than ever before</b></h3>
<p><span style="font-weight: 400;">Thanks to the increasing adoption, we&#8217;re seeing a more data-centric and data-sharing world than ever before. It&#8217;s not uncommon for a business of moderate size to have more data at its disposal than it is capable of parsing through without machine learning. And individuals are now expecting services to not only have an online platform, but to work seamlessly together with other solutions at all times.&nbsp;</span></p>
<p><span style="font-weight: 400;">This data renaissance both creates a platform for, as well as necessitates, IoT technologies. It&#8217;s creating the opportunity, driving consumer and enterprise demand, and posing a problem that only IoT, AI, and ML can solve.&nbsp;</span></p>
<h2><span style="font-weight: 400;">What does IoT innovation look like in practice?</span></h2>
<p><span style="font-weight: 400;">Alright, so IoT innovation is growing in popularity, just as it&#8217;s been predicted to since its inception. Now, it&#8217;s time to look at this technology in practice.&nbsp;</span></p>
<p><span style="font-weight: 400;">Recently, the team at Cheesecake Labs had the pleasure (and challenge) of developing a one-of-a-kind IoT solution: THAW, a product of&nbsp;</span><a href="https://thaw.acgbrands.com/en_US/"><span style="font-weight: 400;">&nbsp;Alliance Consumer Group</span></a><span style="font-weight: 400;">.&nbsp;</span></p>
<p><span style="font-weight: 400;">Here is how our experience developing this IoT product went.&nbsp;</span></p>
<h3><b>THAW: A unique footwear solution</b></h3>
<p><span style="font-weight: 400;">The premise behind THAW is simple: create a heated in-sole device for shoes. The in-soles connect to an app, allowing the temperature of the wearer&#8217;s shoes to be controlled manually and automatically.&nbsp;</span></p>
<p><span style="font-weight: 400;">If you’ve ever been out hiking, mountain biking, skiing, fishing, or hunting when the temperature drops, then you know how quickly cold feet can put an end to your fun — and that’s the problem Thaw looks to solve. Using the app, the user can control how warm their shoe’s in-sole is and what times it turns on.&nbsp;</span></p>
<p><img decoding="async" class="wp-image-7886 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/THAW-MOCKS.png" alt="" width="221" height="447" srcset="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/THAW-MOCKS.png 1455w, https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/THAW-MOCKS-768x1553.png 768w" sizes="(max-width: 221px) 100vw, 221px" /></p>
<h3><b>How IoT took this idea a step further</b></h3>
<p><span style="font-weight: 400;">Of course, this isn&#8217;t much of an IoT idea just yet —&nbsp;it’s still a really neat way to stay warm, but the connections aren’t there to call it IoT. So Cheesecake Labs partnered with the THAW product development team to take this concept a step further.&nbsp;</span></p>
<p><span style="font-weight: 400;">We worked with THAW to integrate current weather reports into the product. This way, the device will not only turn on when it&#8217;s told to by the user, but it can also notify the user when it&nbsp;</span><i><span style="font-weight: 400;">should</span></i><span style="font-weight: 400;">&nbsp;be turned on (after the weather drops below a certain point). Likewise, we also implemented a notification system so that the user remembers to charge the device whenever the weather is getting colder.&nbsp;</span></p>
<p><img decoding="async" class=" wp-image-7887 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/THAW-MOCKS-3.png" alt="" width="221" height="447" srcset="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/THAW-MOCKS-3.png 1455w, https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/THAW-MOCKS-3-768x1553.png 768w" sizes="(max-width: 221px) 100vw, 221px" /></p>
<h3><b>The challenge of THAW’s IoT</b></h3>
<p><span style="font-weight: 400;">THAW isn&#8217;t just one device, it&#8217;s two (one for each sole). That means that both devices need to not only be connected and responding to the user&#8217;s input, but they need to be doing so&nbsp;</span><i><span style="font-weight: 400;">synchronously,&nbsp;</span></i><span style="font-weight: 400;">all of the time.&nbsp;</span></p>
<p><span style="font-weight: 400;">And yet, we also wanted the user to be able to specify distinct settings for each in-sole should they wish to. Whatever we built needed to work synchronously and asynchronously; back and forth whenever the user desires.&nbsp;</span></p>
<p><img decoding="async" class="wp-image-7905 aligncenter" src="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/Design-sem-nome-4.png" alt="" width="483" height="483" srcset="https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/Design-sem-nome-4.png 3307w, https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/Design-sem-nome-4-300x300.png 300w, https://ckl-website-static.s3.amazonaws.com/wp-content/uploads/2021/12/Design-sem-nome-4-768x768.png 768w" sizes="(max-width: 483px) 100vw, 483px" /></p>
<h2><span style="font-weight: 400;">Using Flutter to make this IoT vision a reality</span></h2>
<p><span style="font-weight: 400;">Conceptualizing how the app needed to work and the integrations it needed to have was just Phase One. Then we needed to come good on our ideas! To do so, the Cheesecake Labs team turned to Flutter —&nbsp;the development framework powering&nbsp;</span><a href="https://blog-stg.cheesecakelabs.com/br/blog/apps-built-flutter-6-great-examples/"><span style="font-weight: 400;">many of the world’s best apps</span></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">Here’s why:</span></p>
<h3><b>You can write for Android and iOS simultaneously</b></h3>
<p><span style="font-weight: 400;">With Flutter, you can write your application’s code once and deploy it to both Android and iOS simultaneously. When you consider all the variables of an IoT application —&nbsp;plus THAW’s double-device challenge —&nbsp;this offered a huge benefit versus native development.</span></p>
<p><span style="font-weight: 400;">Cross-platform development isn’t always the right approach (see our comparisons of&nbsp;</span><a href="https://blog-stg.cheesecakelabs.com/br/blog/flutter-vs-react-native-development/"><span style="font-weight: 400;">native vs cross-platform apps here</span></a><span style="font-weight: 400;">) but for IoT innovation, it’s a great fit.</span></p>
<h3><b>Flutter is headed by Google, who wholeheartedly believes in IoT</b></h3>
<p><span style="font-weight: 400;">Google is a firm supporter of IoT, evidenced by the fact that Flutter not only works with Android and iOS but also desktops and embedded devices (like Thaw). Likewise, Google recently began developing the Fuchsia OS, which is aimed to deploy on a wide array of devices (not just the traditional smartphones and desktops we&#8217;re used to).&nbsp;</span></p>
<h3><b>There is a pre-existing library of tried-and-tested modules</b></h3>
<p><span style="font-weight: 400;">Finally, Flutter comes with a vast library of tried-and-tested modules. This allowed us to dramatically speed up and simplify the development timeline of this project, while also mitigating risk.</span></p>
<h2><span style="font-weight: 400;">Ready to dive into your own IoT development cycle?</span></h2>
<p><span style="font-weight: 400;">The Internet of Things presents incredible opportunities for both consumer and enterprise applications —&nbsp;and we’re not just talking about years in the future, either. The time to start thinking about IoT&nbsp;innovation for your business is now, and Cheesecake Labs can help.&nbsp;</span></p>
<p><a href="https://blog-stg.cheesecakelabs.com/br/contato/"><span style="font-weight: 400;">Reach out today</span></a><span style="font-weight: 400;">&nbsp;and take your IoT journey on its first (or next) step.&nbsp;</span></p>
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<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/iot-innovation-whats-behind-rise-iot/">IoT innovation: what’s behind the rise of IoT &#038; how CKL approaches IoT development</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>Cryptocurrency wallet development: the 6 most important aspects</title>
		<link>https://blog-stg.cheesecakelabs.com/cryptocurrency-wallet-development/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Tue, 14 Dec 2021 11:26:57 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7878/</guid>

					<description><![CDATA[<p>In 2017, cryptocurrencies exploded into the mainstream. Around the world, millions of people began investing in digital coins all at once. This leap in popularity for an emerging tech was made possible by immense hype and by underlying technologies. The cryptocurrency wallet, which began development in 2012, was one of the primary technologies that allowed [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/cryptocurrency-wallet-development/">Cryptocurrency wallet development: the 6 most important aspects</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">In 2017, cryptocurrencies exploded into the mainstream. Around the world, millions of people began investing in digital coins all at once. This leap in popularity for an emerging tech was made possible by immense hype and by underlying technologies. The cryptocurrency wallet, which began development in 2012, was one of the primary technologies that allowed this vast expansion.</span></p>
<p><span style="font-weight: 400;">Today, cryptocurrency wallets come in all shapes and sizes. Businesses and startups are looking for ways to invest and capitalize on this new currency movement.&nbsp;</span></p>
<p><span style="font-weight: 400;">With that in mind, let’s talk about how you can enter the cryptocurrency market with your own wallet.&nbsp;</span></p>
<p><span id="more-7878"></span></p>
<h2><b>What is a cryptocurrency wallet?</b></h2>
<p><span style="font-weight: 400;">First, the basics: what is a cryptocurrency wallet?</span></p>
<p><b>A cryptocurrency wallet is more or less a bank account for your cryptocurrency.</b><span style="font-weight: 400;"> It tells you how much cryptocurrency you own, what it’s worth in various currencies, and makes it easy to send, receive, and exchange crypto.&nbsp;</span></p>
<p><span style="font-weight: 400;">One thing to note, though, is that a cryptocurrency wallet doesn’t </span><i><span style="font-weight: 400;">store</span></i><span style="font-weight: 400;"> your cryptocurrency. Technically, all cryptocurrency is stored in a <a href="https://blog-stg.cheesecakelabs.com/blog/blockchain-guide-getting-started-blockchain-app/">blockchain</a>, a ledger that keeps track of every coin in a particular type of cryptocurrency.&nbsp;</span></p>
<p><span style="font-weight: 400;">In this way, crypto wallets really are like bank accounts. When your bank account says that you have $1,000, it doesn’t mean that $1,000 is sitting in an account with your name on it. It means that your bank has $1,000,000, and $1,000 of that money belongs to you. Your account allows you to manage and use that money, but it’s just an interface for interacting with it — it isn’t actually holding that money.&nbsp;</span></p>
<p><span style="font-weight: 400;">The same concept applies to cryptocurrency wallets. They store the information that confirms you own cryptocurrency, just like an account. Information about </span><i><span style="font-weight: 400;">how much</span></i><span style="font-weight: 400;"> cryptocurrency you own is stored in the blockchain, and the blockchain integrates with your wallet. Like a bank!</span></p>
<p><span style="font-weight: 400;">Also like a bank, you can lose your cryptocurrency if you lose track of your account information. If someone steals the data that confirms your crypto belongs to you, then they can claim it as their own. Since crypto isn’t as established as banks are (by design, notably), keeping your crypto safe largely falls to cryptocurrency wallets.&nbsp;</span></p>
<p><span style="font-weight: 400;">There aren’t necessarily any defining characteristics of a cryptocurrency wallet other than that it stores the information that confirms your crypto belongs to you. You could technically write that information on a piece of paper, and that piece of paper would serve as your wallet (just don’t lose it!)</span></p>
<p><span style="font-weight: 400;">While keeping your crypto on a piece of paper is arguably one of the most secure ways to store it, the paper approach lacks features. It can only “receive” cryptocurrency and store it. So those wanting to venture into cryptocurrency wallet development will need to:</span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Build an app/device that holds a person’s cryptocurrency information</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Ensure that this information is as secure as possible</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Add features that make their cryptocurrency wallet more worthwhile than alternatives</span></li>
</ul>
<p><b>Ease-of-use is a vital feature of a cryptocurrency wallet because many people have difficulty understanding the concept and using their wallets.</b></p>
<h2><b>The different types of cryptocurrency wallets</b></h2>
<p><span style="font-weight: 400;">As mentioned, a cryptocurrency wallet can be anything that stores the information confirming you own your crypto, including a piece of paper. Of course, businesses looking to dive into cryptocurrency wallet development aren’t interested in selling paper.&nbsp;</span></p>
<p><span style="font-weight: 400;">Below are the four most common types of cryptocurrency wallets available today. Each has its benefits, pitfalls, and risks. Like most tech, the more secure something is, the more complex and limited it will be. </span><b>You want to choose the format that best suits your goals and balances these factors.</b></p>
<h3><b>Web</b></h3>
<p><span style="font-weight: 400;">Web-based cryptocurrency wallets are popular for the same reason that SaaS and other web-based apps are popular. They’re easy to access, available on all of your devices, and work regardless of how much computing power/storage the user has.&nbsp;</span></p>
<p><span style="font-weight: 400;">The issue with web wallets is that they can be limited both in terms of security and features. You might struggle to get users on board with them because downloadable mobile apps are more popular with consumers.&nbsp;</span></p>
<h3><b>Mobile</b></h3>
<p><span style="font-weight: 400;">That brings us to mobile cryptocurrency wallets. These are, unsurprisingly, the most popular among crypto users today. They’re easy to use, can be carried with you wherever you go, and can take advantage of the hardware in smartphones (like NFC or Bluetooth).&nbsp;</span></p>
<p><span style="font-weight: 400;">The drawback of mobile wallets, though, is that they’re often stuck on a person’s phone. Additionally, because mobile is such a ubiquitous medium these days, there is an abundance of malware posing as a mobile cryptocurrency wallet. You not only need to keep things secure but communicate to your users that your wallet is as secure as it claims.&nbsp;</span></p>
<h3><b>Desktop</b></h3>
<p><span style="font-weight: 400;">Desktop cryptocurrency wallets are usually the most feature-rich. Similar to a mobile wallet, these keep all of your cryptocurrency stored on your computer. You don’t need an internet connection for these wallets to work, though they offer many of the same benefits that you get with a web-based wallet.&nbsp;</span></p>
<p><span style="font-weight: 400;">The pros of desktop wallets are that they’re secure, geared towards the tech-savvy, and have a feeling of authenticity that mobile and web apps usually don’t. You can think of it as the difference between an app like Acorns and Fidelity Investments. One is more approachable, and the other is more robust.&nbsp;</span></p>
<p><span style="font-weight: 400;">However, this can also be a hindrance to desktop wallets. </span><b>Cryptocurrency is no longer exclusive to tech-savvy individuals. As such, desktop wallets can be intimidating to users, assuming they’re even aware they exist.&nbsp;</b></p>
<h3><b>Hardware</b></h3>
<p><span style="font-weight: 400;">The last type of cryptocurrency wallet is the hardware wallet. This is arguably the “classiest” way to keep your crypto and works essentially the same as a paper wallet.&nbsp;</span></p>
<p><span style="font-weight: 400;">Most hardware wallets are just physical devices that plug into your computer and store the information that confirms you own your cryptocurrency (your address and keys). They usually look like flash drives or portable hard drives with a small LED screen. This screen will display things like your address and key, the amount of cryptocurrency you own, and so on.&nbsp;</span></p>
<p><span style="font-weight: 400;">These wallets generally don’t do anything beyond this as they, by design, don’t connect to the internet. Encryption is standard for these devices as well, making them very secure. If someone forgets their encryption password, though, then that person will likely lose their cryptocurrency as well.&nbsp;</span></p>
<p><span style="font-weight: 400;">As such, hardware wallets are great for security-conscious crypto holders and stablecoins. However, a more flexible solution will work better for those who want to trade unstable crypto assets.&nbsp;</span></p>
<h2><b>The difference between hot and cold cryptocurrency wallets</b></h2>
<p><span style="font-weight: 400;">When you begin cryptocurrency wallet development, you’ll find that you can generally break down the available types of wallets into two categories:</span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Wallets that connect to the internet</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Wallets that don’t connect to the internet</span></li>
</ul>
<p><span style="font-weight: 400;">These are “hot” and “cold” cryptocurrency wallets. Hot wallets connect to the internet and focus on bringing users features and simplicity. Cold wallets, on the other hand, are used for long-term storage and security. They’re usually more difficult to use but offer greater peace of mind.&nbsp;</span></p>
<h2><b>Cryptocurrency wallet development: Developing it yourself or choosing a custodial service</b></h2>
<p><span style="font-weight: 400;">Another fork in the road that you’ll encounter after you begin cryptocurrency wallet development is the custodial wallet. Hot wallets can be custodial or non-custodial.&nbsp;</span></p>
<p><b>Custodial wallets are wallets that store your cryptocurrency for you. You can still trade, send, receive, and otherwise manage your cryptocurrency. You just don’t hold onto the actual keys and address of your wallet.</b><span style="font-weight: 400;"> One of the most popular custodial wallets is Coinbase, which mirrors a stock trading app.&nbsp;</span></p>
<p><span style="font-weight: 400;">Non-custodial wallets give you total control over your cryptocurrency. They’re just the medium that you use to control it.&nbsp;</span></p>
<p><span style="font-weight: 400;">Custodial wallets are generally easier to use, more feature-rich, and have the benefit of keeping track of your crypto for you. As long as you have the app downloaded and your username/password memorized, you won’t lose your crypto.&nbsp;</span></p>
<p><span style="font-weight: 400;">On the other hand, you’re at the mercy of the custodial wallet to keep track of your crypto correctly. If they’re hacked, subject to a government seizure, or simply decide to close up shop, then you lose your crypto.&nbsp;</span></p>
<p><span style="font-weight: 400;">Again, you will want to consider the kind of product you want to develop when comparing these two options. Today, custodial wallets have dominated in popularity. Custodial wallets’ popularity primarily comes from people using cryptocurrency as a tradable asset rather than a currency. As time moves on, though, and the market becomes more stable, non-custodial wallets will likely begin to take over.&nbsp;</span></p>
<h2><b>6 most important components of cryptocurrency wallet development</b></h2>
<h3><b>User authorization</b></h3>
<p><span style="font-weight: 400;">Like any service that depends on security, your team must provide your users with a high level of protection. Cryptocurrency isn’t quite at the same level of risk as it was a few years ago, but it’s still a financial asset and should be protected accordingly. Keeping things encrypted, locked behind logins and 2FA, and instating a robust account recovery process is essential.&nbsp;</span></p>
<h3><b>Offline access</b></h3>
<p><span style="font-weight: 400;">Offline access for a crypto wallet requires a non-custodial wallet. It also requires that a person’s address and keys are stored on a personal device like a computer, smartphone, or hardware wallet.&nbsp;</span></p>
<p><b>Considering offline access in your cryptocurrency wallet development can lead to features like offline crypto transfers and more secure crypto storage.&nbsp;</b></p>
<h3><b>QR code scanning capabilities</b></h3>
<p><span style="font-weight: 400;">QR codes and NFC tags pose a lot of potential for cryptocurrency wallet development. They allow for contactless transfers of funds, which have already started replacing physical credit and debit cards.&nbsp;</span></p>
<p><span style="font-weight: 400;">Adopting NFC and QR codes as a means of cryptocurrency payment is not only a great way to embrace the tech-y side of this tech but is also helpful for P2P payments.&nbsp;</span></p>
<h3><b>Transaction notifications</b></h3>
<p><span style="font-weight: 400;">Of course, every app for making financial transactions should have some form of transaction notifications, and cryptocurrency is no different. Notifications act as a form of security and confirmation. And on exchange platforms like Coinbase, they can let users know when assets they’re holding have risen or fallen in value.&nbsp;</span></p>
<h3><b>Trading and exchange features</b></h3>
<p><span style="font-weight: 400;">As mentioned, most cryptocurrencies haven’t reached a point of value stability yet. And they will most likely remain that way before they receive mainstream acceptance by consumers, businesses, and governments.&nbsp;</span></p>
<p><span style="font-weight: 400;">Many of your users will likely use cryptocurrency as a tradable asset rather than a currency until then. For this reason, it’s worth considering adding trading and exchange features to your platform. Users will also likely wish to trade their crypto for fiat currency until it is widely accepted as a payment method. So having a system in place for doing so is worth considering.&nbsp;</span></p>
<h3><b>Payment gateway integration</b></h3>
<p><span style="font-weight: 400;">Finally, integrating your cryptocurrency wallet with a payment gateway, like PayPal, is also worthy of consideration. It can help legitimize your wallet and make it more appealing than alternatives that seemingly lock your crypto into an app.&nbsp;</span></p>
<p><span style="font-weight: 400;">You might even look into building or integrating with a <a href="https://blog-stg.cheesecakelabs.com/blog/create-borderless-blockchain-payment-platform/">blockchain payment process platform</a>. These services are becoming more popular as cryptocurrency grows in mainstream appeal.&nbsp;</span></p>
<h2><b>Partner with Cheesecake Labs and accelerate your cryptocurrency wallet development</b></h2>
<p><span style="font-weight: 400;">The newness of cryptocurrency can, understandably, make it intimidating and complex to break into the sector. But you don’t have to do it alone.&nbsp;</span></p>
<p><b>The experts at </b><a href="https://blog-stg.cheesecakelabs.com/"><b>Cheesecake Labs</b></a><b> can help you navigate this new technology and develop a competitive product for the market. If you’re interested in starting your cryptocurrency wallet development, </b><a href="https://blog-stg.cheesecakelabs.com/contact/"><b>reach out to our team and see how we can help</b></a><b>.</b></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/cryptocurrency-wallet-development/">Cryptocurrency wallet development: the 6 most important aspects</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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		<title>The outsourced development team: a startup’s secret weapon</title>
		<link>https://blog-stg.cheesecakelabs.com/outsourced-development-team/</link>
		
		<dc:creator><![CDATA[Mayara Cristine Wandall]]></dc:creator>
		<pubDate>Mon, 13 Dec 2021 14:27:01 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://blog-stg.cheesecakelabs.com/?p=7867/</guid>

					<description><![CDATA[<p>&#8220;Time is money&#8221; for every business. When you&#8217;re a startup, though, the truth behind this saying can be brutal. For funded startups, every cent (and by extension,&#160;every second) really,&#160;truly&#160;counts. And for those startups that are bootstrapping from their own pocket, well, you see the point here.&#160;Most startups begin with a skeleton crew of passionate individuals. [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/outsourced-development-team/">The outsourced development team: a startup’s secret weapon</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">&#8220;Time is money&#8221; for every business. When you&#8217;re a startup, though, the truth behind this saying can be brutal. For funded startups, every cent (and by extension,&nbsp;</span><i><span style="font-weight: 400;">every second</span></i><span style="font-weight: 400;">) really,&nbsp;</span><i><span style="font-weight: 400;">truly</span></i><span style="font-weight: 400;">&nbsp;counts. And for those startups that are bootstrapping from their own pocket, well, you see the point here.&nbsp;</span><span style="font-weight: 400;">Most startups begin with a skeleton crew of passionate individuals. And that’s great for securing initial investment. To grow, though, you need to bring in the necessary talent — and you need to do it fast.&nbsp;</span><span style="font-weight: 400;">Let’s say you need to get to market with a digital product and you needed to do it yesterday. Should you speed through the recruitment progress and put together an in-house team? Or is leaning on the skills and experience of an outsourced development partner the smarter way to go?</span></p>
<p><span id="more-7867"></span></p>
<h2><span style="font-weight: 400;">Startups need to tread carefully when building a development team</span></h2>
<p><span style="font-weight: 400;">There comes a time in all successful startups when the original &#8220;ragtag&#8221; team just can&#8217;t keep up. So what do you do?</span></p>
<p><span style="font-weight: 400;">Generally, that startup will do what’s worked so far: look for fast talent to accelerate growth.&nbsp;</span></p>
<p><span style="font-weight: 400;">The problem with this strategy is that finding that talent isn&#8217;t always so easy. Maybe you don&#8217;t find the individuals you need, maybe you can&#8217;t keep these people on board, maybe they won’t work well together, and maybe you don&#8217;t have the resources to onboard them fast enough.</span></p>
<p><b>When you&#8217;re trying to launch a product, your team — and its talent — are everything</b><span style="font-weight: 400;">. And if that creative, productive force isn&#8217;t outputting like you need it to, it can spell trouble for the success of your startup. There’s also the challenge of culture, which we’ll come on to unpack in more detail later.</span></p>
<h2><span style="font-weight: 400;">The problem with an in-house startup development team</span></h2>
<p><span style="font-weight: 400;">Unfortunately, several factors are working against startups that try to build an in-house team too early. Here are just a few of those obstacles — and, for a small and/or scaling business, they can be devastating.&nbsp;</span></p>
<h3><b>It&#8217;s going to take a long time to put a team together</b></h3>
<p><span style="font-weight: 400;">First and foremost, putting together a team of talented, reliable, and passionate individuals takes a lot of time and resources:&nbsp;</span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">You’ll probably need to offer equity to new recruits</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">You&#8217;re inevitably going to invest in hires that don&#8217;t pan out</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">You’re going to invest valuable time when you have&nbsp;</span><i><span style="font-weight: 400;">many other&nbsp;</span></i><span style="font-weight: 400;">priorities&nbsp;</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">… and for teams where remote work isn&#8217;t an option, you might be in a location where the talent you need just&nbsp;</span><i><span style="font-weight: 400;">isn&#8217;t</span></i><span style="font-weight: 400;">.&nbsp;</span></li>
</ul>
<p><b>You don&#8217;t need us to tell you that, as a startup, you don&#8217;t have time to waste.&nbsp;</b><span style="font-weight: 400;">But the unfortunate truth is that building and training your own development team from scratch is time-consuming and risky.</span></p>
<h3><b>Developing a reliable process isn&#8217;t smooth sailing</b></h3>
<p><span style="font-weight: 400;">After you’ve hired and trained a team of designers and engineers, next you need to establish a reliable, efficient, and productive development process.&nbsp;</span></p>
<p><span style="font-weight: 400;">You need this group of individuals to work as a team, you need them to operate in an organized, efficient manner, and mistakes can be costly at this stage of the game.&nbsp;</span><b>If you don&#8217;t have direct experience with working on and/or managing a development team then the odds are stacked against you.</b></p>
<p><span style="font-weight: 400;">Not to mention that your teammates might not even get along! They might have zero chemistry or worse,&nbsp;</span><i><span style="font-weight: 400;">negative&nbsp;</span></i><span style="font-weight: 400;">chemistry. You might not know how much of a budget they need, which tools to connect them with, what the best practices are, and you may spend time floundering between each of these points to find the right balance.</span></p>
<p><span style="font-weight: 400;">Wasted time = wasted capital. And you’ll have your investors on the phone in no time demanding an explanation.</span></p>
<h3><b>Fostering the right culture for your team is a nuanced process — one you don’t want to rush</b></h3>
<p><span style="font-weight: 400;">Building on the last point is the challenge of team culture. While it might sound nebulous, it&#8217;s a vital part of keeping your team productive and motivated.</span></p>
<p><span style="font-weight: 400;">Running a startup, you need an abundance of passion to keep the fire burning. You want to make sure that all of your employees are as excited and energized as you. You want to make sure they buy into your vision for the business and are willing to work (hard) towards the same goal. This isn&#8217;t something you can guarantee when building an in-house development team at speed, and it might not be something you can cultivate, either.&nbsp;</span></p>
<h2><span style="font-weight: 400;">With an outsourced development team, each of these issues can be mitigated</span></h2>
<p><span style="font-weight: 400;">Fortunately, there&nbsp;</span><i><span style="font-weight: 400;">is</span></i><span style="font-weight: 400;">&nbsp;a way to not only overcome these obstacles but avoid them altogether. And that’s by working with a highly skilled outsourced development team.&nbsp;</span></p>
<p><span style="font-weight: 400;">Outsourced engineering teams have already gone through all of these hardships for you. They’re boxed up (as&nbsp;</span><a href="https://blog-stg.cheesecakelabs.com/services/dedicated-teams/"><span style="font-weight: 400;">dedicated teams</span></a><span style="font-weight: 400;">) and ready to hit the ground running for your startup’s success.</span></p>
<p><span style="font-weight: 400;">Here&#8217;s what that could look like:</span></p>
<h3><b>Your team is ready to go right away</b></h3>
<p><span style="font-weight: 400;">With a pre-built development team, there&#8217;s no need to hire the right talent. It&#8217;s already there. This allows you to scale up or down as swiftly as you need to.&nbsp;</span></p>
<p><span style="font-weight: 400;">This alone gives your startup a&nbsp;</span><i><span style="font-weight: 400;">huge</span></i><span style="font-weight: 400;">&nbsp;competitive advantage.&nbsp;</span><b>It allows you to be agile at a stage that most startups can&#8217;t be, allowing you to claim a stake in the game and compete with more established companies in your sector.&nbsp;</b></p>
<p><span style="font-weight: 400;">An outsourced team can integrate with your existing team seamlessly, bolstering their performance without disrupting the progress you&#8217;re making elsewhere.</span></p>
<h3><b>Outsourced team members have been working together for years</b></h3>
<p><span style="font-weight: 400;">Another immense benefit of an outsourced team is that you’re getting proven collaborators. There&#8217;s no need to establish effective processes, ensure good teamwork, or worry that these individuals are going to be cold towards one another.&nbsp;</span></p>
<p><span style="font-weight: 400;">Not to mention that</span><b>&nbsp;your outsourced team brings a significant amount of experience to the table</b><span style="font-weight: 400;">. This can supplement your and your team&#8217;s know-how, fast-tracking your learning curve.&nbsp;</span></p>
<h3><b>You can foster a positive culture quickly&nbsp;</b><b><i>and</i></b><b>&nbsp;reduce turnover costs</b></h3>
<p><span style="font-weight: 400;">Likewise, an existing team will already have the excitement and motivation you&#8217;re looking for. They’ll have been onboarded into a go-getting company culture and will be ready to show up and make&nbsp;</span><i><span style="font-weight: 400;">your</span></i><span style="font-weight: 400;">&nbsp;product a success. They’ll be a group of individuals who work together every day, reducing the chances of disagreements, dissatisfaction, and other factors that can lead to unproductive, unhappy conditions.&nbsp;</span></p>
<p><span style="font-weight: 400;">It’s difficult to put a financial value on positive company culture, but we can easily work how much money is at stake if you get that culture wrong… We know that each new full-time hire costs a business&nbsp;</span><a href="https://www.glassdoor.com/employers/blog/calculate-cost-per-hire/"><span style="font-weight: 400;">around $4000 and 24 days of work</span></a><span style="font-weight: 400;">. Then there’s&nbsp;</span><a href="https://web.mit.edu/e-club/hadzima/pdf/how-much-does-an-employee-cost.pdf"><span style="font-weight: 400;">base salary, benefits, and taxes</span></a><span style="font-weight: 400;">&nbsp;resulting in an overhead that’s&nbsp;</span><a href="https://pilot.com/blog/independent-contractor-vs-employee"><span style="font-weight: 400;">1.25-1.4 times higher</span></a><span style="font-weight: 400;">&nbsp;than the salary you brought them in on.</span><b>&nbsp;It would be a real shame for that investment to go to waste.</b></p>
<h2><span style="font-weight: 400;">Outsourced development is the smart way to scale today</span></h2>
<p><span style="font-weight: 400;">Yes, Cheesecake Labs offers a stellar outsourced development team to startups all over the world. But we’re not promoting this way of working&nbsp;</span><i><span style="font-weight: 400;">purely</span></i><span style="font-weight: 400;">&nbsp;for personal gain.&nbsp; We are promoting what we would do in your shoes based on what we know and have seen in the market time and time again.</span></p>
<p><span style="font-weight: 400;">The benefits to your business — and, let’s face it, your stress levels — are laid out below:</span></p>
<h3><b>Focus on your business</b></h3>
<p><span style="font-weight: 400;">You&#8217;re the CEO of a startup, your energy is already stretched as thin as it can go. There&#8217;s no need to push that limit even further by taking on the challenges and risks of building an in-house development team before you&#8217;re ready.&nbsp;</span></p>
<p><span style="font-weight: 400;">Outsourcing your development keeps your schedule and resources balanced without compromising results. You can manage your time appropriately while your outsourced team supports you.&nbsp;</span></p>
<p><b>You can begin the in-house recruitment process when the time is right,&nbsp;</b><b><i>not</i></b><b>&nbsp;because you’re under pressure.</b></p>
<h3><b>Mitigate risk for your product</b></h3>
<p><span style="font-weight: 400;">Not only can an outsourced development team free up your time, but it can also mitigate risk.</span></p>
<p><span style="font-weight: 400;">Unlike building an in-house team, where you might not know if new hires are right for your startup until you&#8217;ve already invested in them, an outsourced team has built-in credibility.&nbsp;</span></p>
<p><span style="font-weight: 400;">Likewise,&nbsp;</span><b>an outsourced development team will almost always have “more collective experience” than any team a startup can put together</b><span style="font-weight: 400;">. That’s exactly what you need today to launch a quality product for your target audience.</span></p>
<h3><b>Boost the integrity of your startup</b></h3>
<p><span style="font-weight: 400;">Lastly, an outsourced development team will provide your startup with a sense of legitimacy and integrity. You can make promises to stakeholders more confidently, knowing that you have a team on your side who can provide you with the results you need.&nbsp;</span></p>
<p><span style="font-weight: 400;">This allows you to deliver on your promises, contracts, and sales — even as you scale up in a short period.&nbsp;</span></p>
<h2><span style="font-weight: 400;">Partner with Cheesecake Labs as your dedicated development team</span></h2>
<p><span style="font-weight: 400;">If you&#8217;re looking for a professional, experienced, and talented development team, look no further than&nbsp;</span><a href="https://blog-stg.cheesecakelabs.com/"><span style="font-weight: 400;">Cheesecake Labs</span></a><span style="font-weight: 400;">. Our team of experts can supplement your startup&#8217;s development needs with the credentials you and your stakeholders are looking for.&nbsp;</span></p>
<p><b>It&#8217;s a short- to mid-term solution that can help you get further, faster, without assuming as much risk as you would do otherwise.</b><span style="font-weight: 400;">&nbsp;Our team can also work with your new hires to gradually replace the Cheesecake Labs team as you grow.&nbsp;</span></p>
<p><span style="font-weight: 400;">There’s really nothing to lose and&nbsp;</span><i><span style="font-weight: 400;">everything</span></i><span style="font-weight: 400;">&nbsp;to gain.&nbsp;</span><a href="https://blog-stg.cheesecakelabs.com/br/contato/"><span style="font-weight: 400;">Get in touch with Cheesecake Labs today</span></a><span style="font-weight: 400;">&nbsp;to learn more.&nbsp;</span></p>
<p>The post <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com/outsourced-development-team/">The outsourced development team: a startup’s secret weapon</a> appeared first on <a rel="nofollow" href="https://blog-stg.cheesecakelabs.com">Cheesecake Labs</a>.</p>
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