#DILO (A day in the life of) a RKC’s master’s student

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As a former Education advisor, if I had to pick one of the most frequently asked questions by prospective students, it would be “How many hours do I need to study?”  

The vast majority (if not all) of our students are working and leading hectic professional lives. Some are motivated and have already decided to undertake a master’s, while others contemplate the unknowns of an online programme. In my experience, two things affect their decision the most.   

First – finances, and second, being able to strike the perfect work, study, and life balance. While I cannot completely help you with the finances (partially yes – check out the discount offers currently being offered on our online MBA, MSc, and LL.M programmes), I thought what I could do to help was to bring some facts to light about the other unknowns – what does a typical day in the life of an online master’s student look like?  

Today, we’re looking at overview of one of RKC’s student typical day who is taking MBA Learsership and Management, offered in exclusive partnership with York St. John University.

An Introduction  

Which programme did you choose and why?  

I am studying MBA Leadership and Management. I chose it because I am a finance professional but work with the Operations unit which oversees the running of the office. And leadership and Management skills are required be able to manage people.

The Study Plan   

How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?  

The course is conducted online. I mostly study on weekends and sometimes week days in the office when everyone has left. I usually listen to lectures and make my own notes from them. In total, I put in more than 10 hours a week, as I also have to do research and listen to the videos over and over, alongwith reading relevant text books.

 What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)  

On weekends I would study early mornings and also late evenings. On weekdays, I preferred studying late evenings after work in the office when everyone would leave. I usually stay back for at least 2 hours.

In total, I put in more than 10 hours a week

How much time did you devote for each assignment?  

Quite some time you need to do proper research and also understand your subject matter for you to be able to get a pass mark. So I had to drop out some social commitments and devote more time to my studies.

Travelling and Communication  

Did you travel for work? How did travelling impact your ability to study?  

I am studying online so travelling did not impact me.

How were you able to interact with peers and/or professors given the time differences?  

There was a module that required a group interaction and my fellow students lived in two different time zones. But we were able to agree on a time that we could meet. Time differences did not affect my interaction with my professors as they always responded to me in time and they could be reached whenever need be.

A typical day as a master’s student  

What does a typical day as an Online Masters’ student look like for you?  

A typical day for me starts early at about 5:30am on weekends with me going to our OnlineCampus listening to videos and reading the online materials. On week days it also starts at 5:30am and getting ready for work. I usually work till 6:00pm and after I finish, would study for 2 hours, sometimes more in the office.

Any advice?  

 Any advice you have for students to better plan their studies.  

The best advice I can give to students is

1. Find a time in the day for up to 2 hours that you can concentrate on just your studies

2. Reduce social activities especially if you are working and studying at the same time

3. Try to ask a lot of questions to your professor if you don’t understand the instructions given for an assignment. I had to retake a module because I misunderstood the instruction.

4. Find a fellow student within the course you are doing, with who you can discuss few topics for better understanding.

5. Learn to submit assignment 2-3 days before the deadline. You might get unexpected internet challenge uploading your assignment at the last minute and miss the deadline by few minutes which will make you get a capped mark.

 

Guochang used reading tools, as Acrobat for reading, Zotero for note…

All right, so this was a sneak peek of a typical day in  life as a master’s student. I hope you find it insightful and informative and that it gives you an idea of what to expect when you enrol for our master’s programmes. Watch this space as we have many more interesting insights always! 

Graduation Ceremony – To go or not to go?

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Let me start by clarifying, at least for those who don’t know, it is not mandatory to attend the graduation ceremony to be awarded your degree.

You have worked hard for your degree, completed all your assignments and submitted your dissertation, meeting all the criteria for completing and being awarded your degree. And not being able to attend the graduation ceremony will not deny you your degree. The graduation ceremony is just that, a ceremony. The ceremony celebrates the successful completion of your degree programme and marks the start of the next phase of your life/career.

The University of Salford, UK – Summer Graduation – Class of 2018

So, should you attend your graduation ceremony? Well, it is a personal choice. The internet is filled with vlogs and stories of people choosing to go or opting not to attend the ceremony. Unfortunately, I did not attend either of my graduation ceremonies (graduate and master’s). Both times, not by choice. I don’t regret it now; it was a long time ago. And I don’t think I regrated it back then, apart from the fun photo ops and wearing the robs and the funny hat. I would have loved a photo looking like a graduate celebrating my degree.

But the ceremony is important. Case in point, every year, a number of our (Robert Kennedy College) graduates fly from all over the world to attend the graduation ceremony at the university in the United Kingdom (UK). They spend a lot of time and money to participate in the ceremony – travel, stay and socialise. They do this because they see value in attending the ceremony.

York St John University, UK, Graduation – Class of 2021 (RKC students can be seen getting the award at 45.17, 54.47 and 59.53)

The following five points might give you some insight in helping you decide on whether or not to attend your graduation ceremony.

(1) Money

The bases of most decisions we make in our lives. Attending the graduation ceremony can be a significant financial commitment, especially if you are staying or working in another country. You will have to arrange a visa, for which you might have to travel to the embassy/consulate. Plan your travel to and stay in the university town, which is not a minor expense—changing your wardrobe to meet the requirements of the graduation ceremony—keeping a budget for food and other social activities. If you have family travelling to attend your graduation ceremony, you must budget for them all these expenses. These expenses could lead to a substantial financial outlay, so plan for it well.

(2) Time

Our regular readers know how much we stress the importance of effective time management. You must take time off work, time away from your family, and time away from regular life. While making time to attend your graduation can impact the normal working of your life, it can also be just what the doctor ordered. The graduation ceremony will be a joyous time; it will help you remove your mind from life’s worries. And if you can extend your trip into a proper holiday, you will recharge your worn energy and can return to your regular life with a bang!

(3) Networking

While attending the graduation ceremony is a time for celebration, it can also be an opportunity to expand and solidify the networks you have made. You will not only have the chance to meet your professors and coursemates face-to-face to build on the networks you have already created but also meet with the staff and students of the university, which can provide you with new opportunities to network.

(4) Travel

A number of our students use the opportunity of attending their graduation ceremony as a getaway. We all get so caught up with work and life that we forget to take a break; we keep pushing that long cherished and overdue holiday. So, since they are already travelling to another country to attend the graduation ceremony, they make it into a holiday, most of whom travel with their families. And the hardcore workaholics of our students find a way to squeeze in a few business meetings.

(5) Celebration

Gregory Foster at his graduation at the University of Cumbria, UK – Class of 2018

At the end of the day, your graduation ceremony is a celebration. It might be fulfilling a lifelong dream of earning a master’s degree. It might be the end of one chapter of your life and the start of another. It might be the opportunity for a new career or the advancement in your current job. Or it might just be a celebration of the hard work and long nights you put into earning your degree. Whatever your reason, the graduation ceremony is a time of joy and celebration, whether by yourself or with your friends/classmates/family. So, have fun, takes photos and proudly wear that funny hat!

Hopefully, these points will help you decide on the importance of your graduation ceremony and if you will regret not attending your ceremony. If you have any suggestions or thoughts on the impact that attending the graduation ceremony can have, please share them here.

If you are hyped about attending your graduation ceremony someday, consider joining our globally recognised master’s degree programmes. Look at our list of programmes and see if we have anything you are interested in doing.

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme that is right for you, the application process, and details on discounts we might offer.

FIVE signs that you are ready for master’s studies

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Sometimes we do not know what we want in life. How do we change our plans into actions to develop our careers? When is the best time to enrol for a master’s programme?

As it is said, opportunity knocks only once. And when opportunity knocks on your door, always be willing to take a chance. You never know how perfect something could be or when the next opportunity will arise.

Sometimes instead of waiting, you have to create the right opportunity for yourself. One should look for the universe’s signs pointing to any arising opportunities.

One such opportunity is receiving higher education. Studying for a master’s can be a life-changing event and sometimes even the best decision one can make. While it may sound great and exciting, studying for a master’s requires a unique kind of resilience, commitment, dedication, and drive to complete the programme. Time-sensitive assignments, group discussions, researching, dissertation submission – your strengths will be tested on many levels.

Photo credit: Pexels.com

Whether a fresh undergrad or a seasoned professional, the decision to start a master’s is always excruciating. But here are five signs that you are ready to take the leap:

Stagnation in current career/job role

Working in the same role and doing the same job every day becomes mundane. Self-motivated people feel less challenged at work, and their level of job satisfaction declines drastically. Studying for a master’s brings new focus and challenge to an otherwise dull routine.

You have clear goals 

You always wanted to obtain a prestigious master’s degree and add another feather to your hat. Some people plan and define their career path in an early stage of their life, knowing exactly when they will start working, when they will study for their master’s, get married and even when they will have a baby.

You are ready and keen for the academic challenge

Despite busy work and home schedules, you are an avid reader and keep yourself abreast of the latest happenings worldwide. You have been actively researching the field you want to study for your master’s, reading textbooks, and reaching out to current students and alums to understand the academic challenge a master’s programme poses.

You want to network with like-minded people

One of the benefits that most master’s students look forward to is growing their professional network. Students from all over the world, with varying professional experiences, from different cultures come together to study for a master’s degree. Peer relationships formed during the master’s programme over group discussions, or forum chats, usually last a lifetime! This brings an opportunity to create a truly enriching academic experience.

You are ready for the time investment

Sometimes people keep the idea of studying for a master’s at bay simply because of time constraints. Job, family, and social commitment abstain you from committing yourself to the study environment. When you are focused on developing yourself academically and have set aside time, it is the right time to enrol for a master’s programme.

So, in summary, a desire to learn more, earn more and advance more could be your sign to enrol for a master’s programme today.

If you feel this is the right time for you to do a master’s degree, then look at our list of 100% online master’s degree programmes and see if we have anything you are interested in doing.

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme that is right for you, the application process, and details on discounts we might be offering at this time.

It is okay not to be perfect at work. Here are 5 reasons why!

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As an interviewee, I distinctly remember being asked this question: What is your weakness? I am sure you would resonate with me and must have found yourself in a similar situation. As I would be ‘well-prepared’ for the popularly asked questions in a job interview, I would promptly reply – Perfectionism. Trying to be perfect at everything I do is my weakness.

Many of us believe that perfectionism is required to progress in our careers. Well, that notion is a myth, and we should instead not let perfection get in the way of our career progression. It is in your best interest not to let perfection become a barrier in pursuit of success.

With the advent of social media, perfectionism (and the pressure of it) has increased over the years. It is easy to make comparisons now, not only with people around you but also with people from across the globe. The world has shrunk, and there are practically no borders, thanks to social media and the internet. 

There is a thin line between setting high standards and perfectionism. There is a big difference between ambition (adaptive perfectionism) and what is commonly referred to as perfectionism (maladaptive perfectionism). Setting goals for yourself and working towards them proactively in a healthy way is good – however, the moment this becomes stressful and feels like a burden, know that you are going downhill. Then it becomes maladaptive perfectionism. Constantly holding yourself responsible and obsessive behaviour towards not making mistakes can have negative consequences.

Perfectionism limits your effectiveness and adds stress. Photo credit: Canva.com

According to a study by Hill, A. P., & Curran, T. (2016). Multidimensional Perfectionism and Burnout: A Meta-Analysis. Personality and Social Psychology Review, 20(3), “pure” perfectionist striving displayed notably larger negative relationships with overall burnout and symptoms of burnout. In terms of moderation, in some cases, perfectionist striving were less adaptive, and perfectionist concerns more maladaptive in the work domain.

Perfectionism has negative consequences – here’s how.

It is crucial that you understand how perfectionism has negative consequences and holds you back. Beyond a point, perfectionism becomes demotivating. When unattainable standards are set, self-doubt creeps in, leading to reduced engagement. You’ll get farther if you embrace your limits and do your best. With this alternative, you’ll be able to invest energy in your responsibilities and relationships, and in turn, people will feel good about working with you.

Rather than incremental improvement, perfectionism becomes a recipe for stagnation. Photo credit: Canva.com

Perfectionism also limits your effectiveness. Since you are so focused on perfection, you tend to ignore the mistakes, learn the lesson from those mistakes and improvise. Rather than incremental improvement, perfectionism becomes a recipe for stagnation.

While you may think that a perfect person must be popular amongst management and admired by peers, surprisingly, it is quite the contrary in reality. Overwork and overthinking become your hallmark. It will be difficult to trust a perfectionist who is more intimidating than welcoming. People would rather not work with you as they will feel pressurized by unrealistic, unattainable expectations.

Perfectionists are usually lonely overworking. Photo credit: Canva.com

Strive for excellence rather than perfectionism

If you want to better your chances of making career progression, identify what kind and level of perfectionism you are. When you realize you are inching towards maladaptive perfectionism, know it’s time to steer clear of the oncoming negative consequences and move towards adaptive perfectionism.

Instead of striving to be perfect at your job, focus on being happy. The happier we feel at work, the more productive we are, which can lead to fantastic career opportunities in the future.

Here are 5 reasons why it is okay not to be perfect at work:

1. Strike a balance

Research shows that half of workplace absences are due to stress and mental illness. Focusing too much on being perfect at your job can severely impact your well-being, professionally and personally. The sooner you accept that there’s only so much you can achieve in a working day, the better. Putting unnecessary pressure on yourself to achieve only the best results can be counterproductive.

2. Learn from others and your own mistakes

When you are not busy being perfect and tunnel-visioned, you will be surprised to see how much you learn from colleagues, junior or senior. Plus, the less time you spend perfecting your work, the more time you have to build positive relationships with your colleagues.

Always remember, to err is human. Photo Credit: Canva.com

3. Less pressure and stress

The less pressure you put on yourself to be perfect at your job, the less you’ll worry about making mistakes. There is always pressure to achieve targets, make profits, expansion plans and so on. You are more prone to make mistakes when there is so much at stake. Always remember, to err is human. It is essential here to learn from those mistakes and not stress about them.

4. Get more done

According to research, the average worker puts in 10.1 overtime hours per week. That’s the equivalent of 469 hours per year! Plus, only one in 10 did so because they loved their job. When you are not stressing about unrealistic targets and deadlines, you will realize how you make time for other (maybe more) important things in life. It could be pursuing a hobby, fitness goals, spending time with friends and family, or travelling. It is crucial for a healthy mind and body and overall well-being.

5. Perfectionism lies in the eyes of the beholder

Understand the true meaning of perfection. It is essential to set priorities whenever you take a project in hand. Setting realistic targets will make you achieve them relatively quickly and feel happier and content. The accomplishment will pave the way toward taking on more tasks and responsibilities.

In a nutshell, excellence is undoubtedly linked with career advancement, but perfection is not. For all kinds of reasons, perfection can limit you—in terms of your performance, relationships, happiness and well-being. No human is perfect, but you can reimagine “perfect” as embracing your imperfections.

Outside the interview, would I call myself a perfectionist? I don’t think so. I always try to achieve the standards I set for myself, or even higher when possible. Furthermore, I follow the mantra, “Work to Live and not Live to work”. What is your mantra at work? Please share in the comments below.

Exciting news – 3 new programmes on the block!

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Robert Kennedy College (RKC), a pioneer in Swiss quality online education, offers rigorous but flexible learning programmes. RKC has been offering master’s programmes in exclusive partnership with renowned British Universities for more than two decades. Over the years, it has evolved manifold while providing state-of-the-art, cutting-edge technology in delivering delightful online learning experiences.

RKC boasts a strong portfolio of online master’s programmes, offering online MBA, MSc and LL.M programmes. The students have a wide range of 18 MSc, 23 MBA and 3 LL.M programmes.

And recently, RKC added new programmes to its ever-growing programme portfolio.

It’s exciting news for all students keen on studying an undergraduate/diploma programme at RKC. We now offer a Diploma in Business Administration and BA (Hons) in Business Administration.

Let’s look into some details of these programmes.

Diploma in Business Administration

The diploma programme offers deep insights into business administration and serves as a stepping stone to the BA (Hons) in Business Administration. The programme is offered through our exclusive partnership with the University of Cumbria, UK, ranked 8th in the world (Times Higher Education Impact Rankings).

The programme consists of the following six Level 5 modules, each worth 20 credits:

  • Organisational Behaviour
  • Services Marketing
  • Culture and International Business System
  • Corporate Social Responsibility in Practice
  • Global Economics
  • Operations Management

The total fee for the programme is 8000 Swiss Francs (CHF). The diploma is offered 100% online and can be completed in as little as nine months.

BA (Hons) Business Administration

The BA (Hons) Business Administration (Top Up) programme is reserved for our Diploma graduates.

This bachelor’s programme enables you to develop an advanced understanding of business administration and management based on knowledge gained from the diploma.

The programme enhances your employability, opening various career paths in different organisations. Equipped with problem-solving and leadership skills, you can improve any business’s performance!

The total fee for the programme is 8000 CHF and can be completed in just one year.

After successful completion, you can choose to venture out to the professional world or continue your education by studying one of our master’s programmes.

This was all about our two new bachelor’s programmes.

RKC also introduced a new Online MSc programme in Business Administration.

MSc in Business Administration

For those who have been looking to strengthen their business acumen and sharpen their understanding of international business, this is the programme for you. 

MSc Business Administration will help you develop a critical awareness of the strategic and operational running of business operations on a global scale. Offered through our exclusive partnership with the University of Salford, this master’s degree is recognised worldwide.

The University of Salford – “By pioneering exceptional industry partnerships, we will lead the way in real world experiences preparing students for life”

The programme outline includes four taught modules. 

  • Human Resource Management and Development in a Global Context
  • International Relationship Management
  • International Strategic Management
  • International Business in Practice

A conventional dissertation must be submitted at the end of the modules, and a one-week intensive live online residency will help prepare you for the dissertation.

The total fee for the programme is 12000 CHF and can be completed in a minimum of 12 months or up to a maximum of 5 years.

Talk to one of our education advisors on WhatsApp today to learn more about the new programmes and discounts we are currently offering!

Five steps on how to ask for a raise

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Now and then, this thought must have crossed every employee’s mind – the idea of not earning enough, the belief that you deserve a raise. But, how many of us gather the courage to go to our boss and ask for that raise? It is alarming that most people never ask for a raise for what might seem rightfully yours.

Photo credit: Unsplash.com

But if there was a good time to ask for raise, that time is Now!

There are unprecedented conditions in favour of asking (read demanding) a raise. Inflation is at an all-time high. Russia’s invasion is affecting the oil prices and resulting in huge spikes in oil prices, shortage of labour, changes in labour laws bringing transparency in pay and reawakened labour movement, which has significantly impacted how employers respond to workers’ demands.

Many of us find it difficult to highlight our achievements or have that frank talk about money. It is an awkward conversation that most of us shy away from. However, you can strike the conversation confidently and always steer the ship in your favour.

Here are five simple steps when you negotiate your salary:

1. Look for that perfect timing

Photo credit: Unsplash.com

Half of your battle will be won when you strike the iron when it’s hot. Experts say the timing of the ask makes a huge difference. Pick a day and time when you can claim a target has been achieved or a large client account you just secured. Also, be mindful of the annual payroll ‘budgets’. Usually, the conversation is not a matter of a day or two. You don’t want to be too late after budgets have been set nor too early. Keep in mind a timeline of 4-6 months.

2. Peer review

Turn to peer review on how much they think you should be making

If anyone can know your calibre after your boss, it is your colleagues. You tend to spend most of your work time with your fellow workers, who observe your work style and capability. So you can turn towards peers to get their opinion about how much they think you should make in the job. Now it will be impolite to ask how much money they are making. So instead of asking the question bluntly, replace that question with a mere query: In their opinion, how much should a person doing a similar job be earning as per market standards? You can use such data as a reference.

3. Collaborative and holistic pitch for women

Photo credit: Unsplash.com

Even in the 21st century, society still perceives women employees differently than their male counterparts. Women are known to have “many focuses”, and their value to the business is always questionable.

Therefore, women have to approach this process of asking for a raise a bit differently. Women should make a collaborative and holistic pitch with a simple formula of highlighting past performance, project future potential and then present a direct request for a raise. Then leave events to take their course.

4. Ask for a specific number than pay-range

Talk specific number than pay-range

Unlike the popular convention of letting the other person start the conversation, experts today suggest that you should go first; you will face less disappointment. You should anchor the discussion with your desired number. Without a specific number, the HR manager or your supervisor will not be sure how to close the deal, and you may have to walk away with a number this is not satisfactory. Especially women who end up being offered the lower end of the range specified.

5. Do your homework

Photo by Firmbee.com on Unsplash

Last but not least! Do your research. You must look around and find out what other companies offer for a similar role or to the new hires. Such research will help calibrate your ask. Due to labour shortages, salary compression – when the salary of low-skilled workers and salary of high-skilled experienced workers tend towards one another. It has become more common than one might be aware. Do not fear asking why you would not be paid the same (higher) salary that a new hire with less experience and skills is being paid.

Though it may not be the easiest conversation you will ever have, to achieve what you aim for, you need to keep the conversation going until you win!!

If you have any tips about how to ask for a raise, please share them in the comment section below. I would love to hear about your experience.

Importance of Study plan in master’s studies

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Planning is imperative in every step of your master’s studies. Lot of thought process goes into deciding which specialization you choose for the masters, which university you want to apply to, when you want to start, how to finance master’s and planning the support from family and work to successfully complete the programme. 

Once you are past this stage of planning, having enrolled and started with induction module, comes the next stage of planning – planning for the studies for the next 1-3 years, until you finish the programme. You may encounter lot of bottlenecks, confusions, and/or lack of ideas, apprehensions while planning for the studying the master’s programme.

[Pssst: Follow our #Dilo – A Day in the life of a RKC student and find out how our current students and alumni organized themselves in-order to be successful.]

It is not just about creating schedule but formulating a study plan is lot more comprehensive. A study plan helps define your goals, defines methodology for preparation, and thinking ahead of any possible difficulties in a particular subject (your weaknesses). 

Planning is key to success

Before you plan your study plan (pun intended), take the following into consideration:

  1. What is your lifestyle like?
  2. Evaluate your learning style and habits
  3. Study your daily schedule at work and home
  4. Note what times of the day you have free time
  5. How many modules will you be studying at a time?
  6. Which subjects are your strengths and seem easier to study than the ones you dread the most?
  7. Plan how much time you would require reading study material and preparing for assignments
  8. Creating conducive study environment, family, peer and professor’s support

After careful analysis of above pointers, you should be able to formulate a master study plan and pledge to follow it through.

Here are five reasons how a study plan helps you plan better for master’s studies:

1. Improved productivity

Keeping on schedule will help you know what is expected out of you every day and at what time. Without a plan you will loose focus and be everywhere without reaching anywhere. You can prioritise the high importance activities 

2. Better stress management

When you are studying for master’s, you will be juggling with work, home and, study balance constantly. And as our alumni always advice that there will be stressful times, but it’s all about how you manage it. There will one too many instances when you must send that urgent report at work, spend time with your spouse, kids, and pets and moreover, read the study material and prepare for assignment. 

Study plan will help you stay on track and meticulously complete all tasks in time.

3. Time management

All our students and alumni cannot stress enough on the importance of time management. Most popular advice given is – to start early and do not procrastinate. Setting a study plan in place is very effective in avoiding any time wastage and better utilization of this very limited resource – time!

Utilize the limited resources like time effectively

4. Assignment preparation

At RKC, there is no formal examination system. Assessments are done based on assignments. There is a lot of groundwork that goes in preparation and submission of assignments. This includes, and is not limited to, studying the course material, other reference materials, following the discussion on OnlineCampus forum etc. If you have planned what activity you will follow at what time, then it will become a process rather than a burden

Prepare for the unexpected

Life is unpredictable. There is always nice to have a back-up plan for any unforeseen situations. A study plan makes you better equipped to face such challenges and you will be able to navigate your way out of small or big troubles, quickly and easily

We offer personalized study plan that gives you a head start on how the modules are planned over the full-time or part-time schedule. 

Here is a sample personalized study plan for the York St John University’s MBA Leading Innovation and Change:

Talk to our education advisor today to get your own personalised study plan!

All you need to know about Cryptocurrency and Blockchain Technology

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Time is money, and both time and money are evolving rapidly. The discovery of the internet disrupted the way the world operated, bringing political, business, economic and social changes. It improved business processes and made online transactions, and banking, among other things, quicker and less complicated. And this is just the beginning; we humans are, after all, constant inventors and innovators.

Traditionally, political, economic, and legal systems structures are defined by contracts, transactions, and records. Nations and organisations set boundaries of operation to identify and chronicle managerial and social events.

But now it’s time for economic transformation. However, the slow and administrative regulations are stifling the digital transformation. 

Blockchain technology is here to help!

What is Blockchain?

Blockchain is an open, distributed technology that enables the process of recording unalterable transactions and tracking assets. Blockchain works on five basic principles:

  1. Distributed database
  2. Immutable records
  3. Transparent access
  4. Algorithm-based computational logic
  5. Two-way participant transmission
Photo credit: Pwc.com

Blockchain gets its name because of the way the transactions are grouped together into blocks of data, then chained together by way of a mathematical function that creates a hash code

Blockchain has disrupted the business industry with its application in financial services, healthcare, artificial intelligence (AI) and the internet of things (IoT) for supply chain, retail sector, oil and gas, telecommunications, insurance, smart contracts, voting and crypto of course.

So, how do blockchain technology and cryptocurrency work together?

Since its first implementation in 2009, blockchain has not been well known. Blockchain technology is the foundational technology for cryptocurrency, which was first implemented just a decade ago but was revolutionised with the widespread use of the application by Bitcoin. Bitcoin was the first cryptocurrency and operated through blockchain.

Blockchain is the foundational technology for cryptocurrency

Blockchain made it possible to record bitcoin transactions without a central authority establishing trust in a trustless environment. Being a digitalised, decentralised, public ledger, blockchain allows the formation of digital information into blocks, which are stored across a network of computers, creating a database. When verifiable transactions take place, the data is stored in blocks, which, when complete, are added to the chain.

Cryptocurrencies like Bitcoin, Ethereum, Litecoin and, USD Coin are used to buy goods and services. And cryptocurrency uses blockchain, an enhanced cryptographic security system, as a public ledger with immutable records that cannot be deleted or altered. 

Cryptocurrency is used as a digital form of cash to buy goods and services through various trading platforms or digital wallets. The blockchain technology here records the transaction when ownership is transferred to the new owner. Every transaction, therefore, is a public ledger, unalterable, secure and time-stamped.

The pace of technology will not slow down. Cryptocurrency and blockchain hand in hand continue to disrupt much more than the financial services industry. 

What are your thoughts? Share in the comments below.

Venturing into the world of Cryptocurrency – 5 reasons why businesses should move towards digital currency

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One day I was sulking over the pitiful return I got from my money in a bank’s saving account (The rate of interest offered by my bank is a little shy of 0.01% for a balance over $5000 and 0% on balances less than $5000). My colleague shared a similar disappointing story of seeing his money stay the same over a period, giving no returns. He was a risk-taker and invested in crypto about a decade ago. I stayed put as I knew little about crypto and thought it was all a scam! Fast forward ten years, he now owns a healthy bank balance or, should I say, digital currency balance and a brand new mode of payment!

Cryptocurrency has come a long way in the last decade. Cryptocurrency ownership increased 63% just in 2020, and the valuation exceeded $2 trillion for the first time in April 2021. Bitcoin has been one of the oldest and most iconic cryptocurrencies in the blockchain domain. Closely following its footsteps is the Ethereum blockchain – the second largest digital coin. And both combined hold the most significant shares of crypto valuation.

This trend is here to stay and become a financial revolution in the currency world.

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There is an increasing interest in buying and using cryptocurrency, especially among millennials, as this is the future of payments. Consumers don’t want to miss out on this lucrative investment opportunity or miss being part of the futuristic trend of being able to pay with digital currency for retail purchases. The market has a strong interest, and the findings suggest that current owners, former and even non-owners, are eager to own and use cryptocurrencies for making purchases in the future. As per the Cryptocurrency Payments Report May 2021, “12% of consumers (a projected 30 million) currently own one or more cryptocurrencies, 4.5% (11.5 million) have owned them in the past, and 17 million non-owners may acquire cryptocurrency to make purchases in the near future.”

Currently, crypto owners have spent their digital currency on making purchases of jewellery, grocery, online gaming/gambling, food delivery and even real estate. They would like to pay for retail products, travel, financial services, furniture and appliances and streaming services with cryptocurrency.

All they await is more merchants to open doors to cryptocurrency and start accepting the new mode of payment! So, merchants pay attention!

Here are 5 reasons why businesses should join this revolution and should consider accepting cryptocurrency:

1. Opening doors for new customers

Businesses can give their brand an instant facelift by accepting virtual currencies. It provides a cutting-edge image to the company, attracting new customers keen on spending cryptocurrency.

2. Lower fraud risk

Unlike credit cards, cryptocurrency is safe from chargebacks or fraud. The transactions processed with cryptocurrency usually cannot be reversed or cancelled, which means lesser chances of fraud.

3. Lower transaction fee

Businesses can potentially save a lot on the processing fees they usually pay on transactions using the traditional methods. With cryptocurrency, the processing cost will reduce even more if using the same blockchain crypto. Hence, businesses will eventually get a bigger slice of the profits.

4. Lesser trading risk

Cryptocurrencies are meant to pose smaller risks. The market fluctuations do not affect the value of your business when you are dealing in cryptocurrency.

5. Boundaryless payments

In this international market, especially in post-covid conditions, businesses can go global by accepting digital payments from anyone anywhere. Anyone having an internet connection can make a purchase without worrying about the exchange rates for currency conversions.

Cryptocurrencies have been gaining momentum and have caught the eye of one too many. This is one of the ways to stay ahead of the competition by taking on the forward-thinking opportunity.

Robert Kennedy College has recently become one of the merchants where one can pay with cryptocurrency. RKC offers a secure method to pay your course fees using Coinbase. Payment is accepted using Bitcoin, Ethereum, USD Coin and Litecoin.

Talk to one of our advisors on WhatsApp to know more about paying course fees using Coinbase.

5 easy steps to break free and get unstuck in your career!

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Last week I talked about five reasons you feel stuck in your career. In my opinion, one spends considerable time developing their career and then working the job. And it is far from ideal if one keeps feeling stuck and unhappy in their jobs. Now, every problem has a solution. So here I present to you five easy steps to break free and get unstuck in your career:

1. Introspect, revaluate, and develop new skillsets

There is new competition and talent added to the job market every day. Fresh graduates and experienced professionals with unique skills dominate the workspace. It is but natural to feel that your skillsets have become outdated. Now is the time to do some introspection and reassess your skillsets. Start by writing down your skills, even those you use in your personal life. You may be surprised to discover that those skills you never thought could be helpful in the professional diaspora are actually useful. Also, keep learning and adding the latest qualifications to keep abreast of the competition. You can also upgrade your education to a Master’s degree by studying online with RKC.

Photo credit: Unsplash.com by Tim Mossholder

2. Move past the fear

You must come out of the shadow of fear. If talking to your supervisor about your career growth, new opportunities, or searching for new jobs instils fear of the unknown, then you are not pushing yourself and limiting your potential.

Learn to be outgoing and gather feedback from trustworthy colleagues about yourself. Make lists of pros and cons and identify the top things you fear most.

3. Evaluate your priorities

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Money could have been your priority before. But when you have reached a point where the job does not offer any challenges and has become monotonous. Yes, we work to pay our bills. However, it might make better sense to be in a job that might pay slightly less but the one that you enjoy doing every day.

4. Better late than never

Often you might be given some promises by the management of an upcoming raise or promotion. You end up waiting for that performance review, bonus, or annual increment. Because you are comfortable and used to working in that position, you might want to wait for the decision and what’s in store for you. But instead of waiting (sometimes in vain), you should keep planning for the change and look for better opportunities.

5. Create a roadmap and manifest

Photo credit: Unsplash.com by Matt Duncan

You might be feeling stuck in your job because you don’t know what you want to do in the future. Without a goal, you might just be wasting your efforts. Try to channel your focus on what you want to do and grow your career. Invest sometime in yourself and research what areas might interest you. It might be time-consuming, but once you have a clear understanding, you will have a clear path and purpose.

I hope these five simple steps will help change your thought process and help actualise your dream career! Let me know your thoughts in the comments below.

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