The War of the Wallets

A recent hoarding at Metro Station in Delhi took commuters by surprise. The eye popping 50% cashback offer on mobile prepaid recharge was not from a usual suspect Paytm but from American online retail Amazon. Amazon Pay the digital arm of Amazon aims to make the digital payment experience seamless for customers. By launching mobile recharges, it is extending the same convenience to everyday uses for the customer.

Though Amazon might offer a simplistic view of venturing into a segment where Paytm overwhelmingly dominates, the fight for share of Indian wallets will get bloody and dirty as incumbents fire fresh salvos. The rules of the game are changing; it won’t be just survival of the fattest. As big boys flex their bulging financial muscle, the winner would be one who offers the best deal both in terms of money and experience.

The online payment landscape in India is set for exciting times. There will be a combination of innovation and offers like never before. Though Paytm has a head start, there is a long road ahead for the leader as well as other players. With less than 5% of retail payments being digital and a massive government push towards and incentives to adopt digitization, the field is wide open.

Launched in September last year, Tez – Google UPI based digital payments app claims to have 13.5 Million active users, and has processed 250 Million transactions. Tez is a made for India product, designed specifically for Indian users and is available in seven Indian languages. Amazon has also enabled cash customers to pay for their recharges online by offering a cash load service at their doorsteps. Once a customer loads cash, they can enjoy the convenience of recharging their phone online.

It’s not only Amazon and Google who are stepping on the gas. India’s biggest smartphone maker, Samsung, too has been doing its bit to push its mobile payment service – Samsung Pay. It is the only payment platform that can be used at retail outlets by tapping the phone at existing point of sale terminals. It eliminates the need to carry physical plastic in the form of credit and debit cards. As big players penetrate deeper into the market to expand their play, the fight will get intense.

The players have their work cut for them, while discounts and freebie grab early users. The last men standing will be the wallet that customers gravitate to, even after the dust raised by freebies settles. It boils down to providing not just the best experience, but answering questions about security and conflict resolution.  

Become an Indispensable Employee

They say nobody is indispensable. Yet, companies go to great lengths to retain workers who are seen as critical for their operations. They give huge increments, offer promotions and even stock options as inducements to keep these employees from leaving. Here’s a look at some attributes that can make you indispensable at work.

Master tasks - Having a USP can make you indispensable. This doesn’t mean you monopolize that skill and put up hurdles for others who want to learn that task. But you become so good at it that no one else is entrusted with that function. Upskilling has become easier now with the launch of massive open online courses.

Mentoring - Organizations value employees who mentor and train junior colleagues. Mentoring engenders trust among teams and inspires employees to perform to their highest ability. At a broader level, it helps develop and retain talent. The idea is to become valuable by supporting and adding value to other employees. The support can even be in the form of help in everyday functions or stepping in to firefight when a teammate is in a spot.

Volunteer to do more - Your willingness to take up new tasks and challenges will send a signal to the management that you are willing to go that extra mile to add value to the organization. If the company or your division is facing a problem and you have a solution in mind, go to your boss with a rational decision making model and a detailed action plan. First identify the cause of the problem. Then think of all the potential solutions. There could be several options, each having its pros and cons, analyze the feasibility of each solution and then select the best option.

Adaptive Learning - Individuals who embrace change and are able to quickly adapt are seen as more valuable than those who cling to outdated principles and concepts that are past their expiry date. Don’t be afraid of change but welcome it. Experiment with new ideas that are meant to improve productivity and performance.

Take responsibility - This requires a pro-active approach, especially because this work is not part of your assigned duties. Find out the tasks that irk them and then look for ways to do these tasks. If you do this regularly, your boss will start relying on you more and more. Remember, the more irksome the task, the happier he will be that someone else is doing it. Once he gets used to it, he will ensure that you are retained by the company at all costs.

Demonstrate Integrity - Treat others the way you want to be treated. This ensures that one gives due respect to colleagues and customers. Honesty also encourages healthy relationships within an organization. Teams work better if their boss is honest about the objective and outcome of the project. Honesty does not extend to compromising the confidentiality of certain information. A person of integrity will maintain confidentiality if required.

Be Reliable - Be consistently reliable in everything you do. Also, make sure you don’t make false promises. Before you make a commitment, be sure that you will be able to keep it. Instead of promising too much and delivering too little, it is better to scale down the promise and then delight the boss by doing more than you committed. This way you send out the message that you don’t want to make false promises but are willing to go that extra mile to deliver.

Build ties - It is important to build good relationships, not only within your team and with the people you report to, but also with others in the organization. Relationships with clients are also be critical. In some situations, an individual’s relations with a client can make him indispensable. A company may not want to let go of someone if knows that his exit might take away a lot of business. Invest in your relationships with clients to improve your standing within the company.

World without Albert Einstein

Can you imagine living in a world without the discoveries made by Albert Einstein? Regarded as the world’s greatest scientist of all times, his theories on Energy, Gravity, Matter, Space and time paved way for significant advances in these fields. Let’s take a look at some of his theories on modern science.

Albert Einstein and NASA - In the year 1905, Albert Einstein’s theories about light, gravity, motion, mass and energy began a new era of science. These led to the big-bang theory which focuses on how the universe was born while also leading to concepts like black holes and dark energy. Many of current space science projects are built on Einstein’s famous work for NASA “Beyond Einstein” research programme.

Brownian motion – This could by far be the biggest of Einstein discoveries, where his observation of the zigzag movement of particles in suspension, helped in proving the existence of atoms as well as molecules. Einstein’s theory helped in significant statistical predictions about a motion of particles which are randomly distributed in a fluid.

The Sky is Blue – Albert Einstein finally settled the case, “Why Sky is Blue?” in 1911 after calculating the detailed formula for the scattering of light from molecules and this was proved right with an experiment.

Theory of Relativity and E=mc² - This theory helped explain that time and motion are relative to absorbers, as long as the speed of light is constant while natural laws are the same throughout the universe. Einstein proposed that gravity is a curved field which is found in the space-time continuum that is created by the existence of mass. This theory changed much in the way how scientists look at the world and also set the foundation for several modern inventions, including the nuclear bomb as well as the nuclear energy.

Einstein Refrigerator – Albert developed a refrigerator design which used Ammonia, water, butane and required no energy to work, but it is still one of the least known inventions by the scientist. Considering the energy demands, companies throughout the world might realize the importance of cooling and refrigeration without the need for consuming more energy, and develop this concept even further in the near future.

Manhattan Project – Einstein created the Manhattan project which is a research supported by the US that in 1945, led to the development of the atomic bomb. However, after learning the destruction which was caused by the atomic bomb in Japan during World War II, he started campaigning for a ban on nuclear weaponry.

Quantum theory of Light – This theory highlighted that light is a composition of small packets of energy which are called photons and have wave like properties. In this theory, Einstein also explained the process of emission of electrons from metals which are stuck by lightning. This was called the photoelectric effect and the theory later led to the invention of the modern day Television, which gave technologists a new vision to come up with devices having screens. The Quantum theory of Light became an important discovery for several branches of science and Einstein was awarded the Nobel Prize for Physics in 1921 for the same.

Planning Career in Job changing Market

Remember good old days. The streets were safe. Goods were cheap. Jobs were aplenty. You got promoted every few years. You had an income for life. But the world has changed. Neither your city nor your job is safe anymore. Hiring intentions are at a 12-year low in India as a Manpower Group Report. Businesses are evolving rapidly. Whatever you do now will transform in three years or your employer will get it done cheaper and faster either through technology or by a younger placement.

Dying Assets

Skills – Sticking to your current skill set is a sure shot way to becoming redundant. Are you an accountant who knows how to keep books? This single skill earlier could get you a job and keep you there for a lifetime? Just a few years back, this skill became useless if you could not use accounting software. Similarly, a single change called GST meant that your contribution to your employer dropped dramatically unless you were willing to learn new skills.

Knowledge – The knowledge that you held today and spent years in acquiring and polishing is worth far lesser if you take a single year sabbatical from continuous learning. With Internet penetration, knowledge is incredibly cheap and even the youngest patient and legal client questions and double checks the service he is getting versus the price he is paying. Similarly, companies are learning that it is noncompetitive to pay senior professionals more than their knowledge alone. A youngster with less than half the experience can acquire that knowledge at a substantially lower salary.

Labor – Work hard and you will succeed is terrible standalone advice in the current job market. For every job that requires human hours, someone somewhere is working on technology to reduce time required to do a task to make you either more productive or redundant. From manufacturing to services to knowledge work, your labor hours are being replaced by technology solutions that help your company reduce costs and increase productivity.

Technology – Massive changes in the technology that you used 2-3 years back forced you to head back to the classroom to upgrade or become irrelevant. Relying on your comfort with current technology in your job is the fastest route to losing your job to the next savvy professional who comes along. Artificial Intelligence in language/data, robotics/3D printing, Internet of Things in goods/manufacturing/labor and Internet/computing in knowledge/education are rapidly evolving technology spaces where your comfort levels in using them needs to keep pace to stay professionally relevant.

Growth Assets

Sales – The Primary difference between being merely skilled being successful lies in how you work with others. To achieve this, you require the ability to communicate and sell your ideas to others. Work on your negotiation skills to master the art of reaching agreement on common goals and process.

Learning – Stay curious and stay hungry. If your current skills and knowledge are redundant, the only thing that you will ever require is the ability to learn. This is an acquired skill. The first step is to be intensely curious. Observe children who have the steepest learning curves simply because they are constantly curious about the world around them. No learning will ever go waste and no employer will ever let go of someone who can connect the dots across business and solve problems.

Creating – You will do well to set aside at least two hours every weekend to just pause and think. Ask yourself what happened in the previous week or month, what new knowledge you acquired and how you can improve your plan for the future.

How to Survive

Be Paranoid – What could go wrong in your job? How will you find your next source of income?

Double Up – Get a second career, work a second shift, sell to a second client or acquire a second skill.

Stay fit – Investing in achieving high fitness levels increases ability and time required for learning and growth.

Stay Sharp – To stay alive and kicking in your career, keep your mind ticking by constantly challenging and feeding it.

Grow People – The way to attract and lead people is to teach them, help them solve problems and unlock their potential.

Promoting Yourself

Inherent excellence is not always enough to fetch recognition. Potential sponsors need to know about your skills, competencies, accomplishments and experiences to be encouraged to make a positive difference to your career. Being memorable equals getting picked. Self-promotion is a delicate art because if you overdo it, you come across as a braggart, and if you underplay you don’t get the accolades. There should be a line between gaining a following and becoming sickeningly self-promotional. Here are few strategies to generate more visibility -

Prepare your story – Whenever you meet any potential sponsor, seize this opportunity to promote yourself by highlighting an accomplishment or two. The trick lies in being prepared with your story and arming yourself     with data points that you can reel off at the drop of a hat.

Redefine self-promotion – Just as the objective of marketing a product is to generate awareness about its key benefits to help customers make sound decisions, think of self-promotion as a responsible communication of your talents and accomplishment to those who can leverage and benefit from this information, thus making it a win-win proposition.

Clothe it in anecdotes – Share your success story in the form of a story. Share your strategy and challenges in cracking the deal, enabling your team to learn from your experience. Engage with humility, focus on facts and ensure that those stories are relevant.

Impactful Introduction – Make your introduction audience centric and impactful by incorporating elements that differentiate and lend a recall value. For instance, something like, “I am an avid trekker, I did the Everest base camp trek last year,” is likely to stick in the minds of the audience.

Engage beyond your core work – As the organization expands, it is not easy to get noticed outside your immediate circle. Participating in forums outside core work, like knowledge sharing forums, organizational committees, corporate social responsibility initiatives, diversity etc. will help in garner visibility and connect with people beyond operational network.

Communicate with your Manager – Tracking your accomplishments and feeding your manager with regular updates is mutually beneficial – it would not only help you promote yourself, but also offer your manager data points to identify areas where you could contribute.

Engage on Social Media – Start with posting an impactful profile, portraying your expertise by engaging in discussion forums, posting articles and commenting on posts, thus creating visibility by yourself.

Reverse Promotion – When you promote others, guided by the principle of reciprocity, they promote you in return. This reverse promotion, besides enhancing your visibility and highlighting your achievements, also helps you build relationships and earn goodwill. So, be open to connecting with people, learning about and promoting, their talents and achievements.

Myths about Human Brain

The Human Brain is a power organ that controls all body functions, interprets information from the outside world and stores that information in our memory. Composed of Cerebrum, cerebellum and brainstem, the brain controls our capacity for art, language, moral judgment and rational thought. But we humans have some very wrong ideas about our brain. Here are some of the myths about the common centre of the human nervous system.

Myth: We use only 10% of our brains – This is one of the most popular myths about brain. It can only be tracked down by the reverse energy theory by Harvard Psychologists William James and Boris Sidis. In 1890s, they tested the theory in the accelerated raising of a child, thereafter; James said that people only meet a fraction of their full mental potential, which is a plausible claim. Many of us believe that we could achieve so much more – learning new languages, musical instruments and sports – if only we applied ourselves. The myth sounds appealing because they see in terms of human potential – implying that we have huge reserves of untapped mental powers.

Myth: Brain damage is permanent – The brain can repair or compensate for certain losses, and even generate new cells. Scientists believe that the brain was unalterable, that once it was ‘broken’, it could not be fixed. However, it should be noted that the brain remains plastic throughout life, and can rewire itself in response to learning.

Myth: Doing crossword puzzles improves memory – A study led by researchers found that solving crossword puzzles initially delayed the onset of memory decline in individuals between the ages of 75 and 85, but sped the decline once a person showed signs of dementia. Today, most neurologists agree there is no harm in the activity but there is no great benefit other than making you an expert in crossword puzzles.

Myth: Being in coma is like being asleep. You wake up well rested – In real life, those emerging from coma often suffer disabilities and need rehabilitation. Scientists in 2012 found that high traffic brain regions – normally bright hubs of activity, even during sleep – are dark in coma patients while other areas inexplicably light up.

Myth: Headaches are in the brain – Headaches are thought to be caused by the tension and swelling of blood vessels of the brain. But there are no pain receptors in the brain itself. However, the meninges (covering around the brain), periosteum (covering on the bones), and the scalp have pain receptors. Headaches are actually caused by the tightening of the muscles in the neck and the head. Headaches may also be caused by an imbalance in serotonin levels. Serotonin is essential for regulating mood, sleep and blood vessel size.

Myth: The brains are biologically better suited for Math and Science, female brains are empathy – There are small anatomical differences between male and female brains. The hippocampus, involved in memory, is usually larger in women, while the amygdala, involved in emotion, is larger in men, which is quite contrary to the myth. Evidence suggests gender disparities are due to cultural expectations, not biology.

Myth: A person’s personality displays a right brain or left brain dominance – The two sides of the brain are intricately co-dependent. We often hear that one can be “right brained” or “left brained” and that those who favor the right are more creative or artistic and those who favor the left are more technical and logical. But brain scanning technology has revealed that the two hemispheres of the brain most often work together in complex processing. For example, language processing, once believed to be the provenance of the left hemisphere only, is now understood to take place in both hemispheres: the left side processes grammar and pronunciation while the right processes intonation.

The Human brain is the largest brain of all vertebrates relative to body size. It weighs about 1.5 kg. The cerebrum makes up 85% of the brain weight. Brain makes up about 2% of a person body weight. It contains about 100 Billion nerve cells. These neurons are connected by trillions of connections or synapses. It contains 1 Billion nerve fibers (axons and dendrites). At any given time, the brain can generate up to 25 watts of power. That’s enough to power a light bulb. Information can fly around your brain at 260 mph. A Human brain can have a storage capacity of anywhere between 3 terabytes and 1,000 terabytes.

Ways to stay ahead in Digital Advertising

In the last three decades, the evolution of the advertising industry has accelerated almost unimaginably. The gradual movement from Print to Audio, and then to Television, has been replaced by the leaps and bounds of the digital age. If we are going to continue to meet the industry’s needs, it’s vital that we adapt quickly to keep up. No matter how much support executives offer, though, a big part of learning is self-directed. Here are some tips:-

Be Curious – Research shows that not only are we better at learning things we are interested in, but we’re also actually more receptive to new information, regardless of subject, when we’re working on something that inspires our curiosity. With practice, we can cultivate curiosity as a habit.

Emulate – When we see something that works, whether it’s a stunning ad campaign or an innovative workflow, replication alone will yield few results. When we come across a successful campaign it behooves us to ask what problem was solved or what challenge was overcome. By bringing this curiosity to bear effective solutions, we can better understand which pieces are relevant to our work.

Learn from Mistakes – Our brains are wired to learn from the decisions of others, and the kick we get when they stumble may be an evolutionary incentive to take note of where they fell short. Understanding why a seemingly airtight presentation missed its mark can help us avoid making similar mistakes in the future and can point us to areas with high growth potential.

Stay Informed – Keeping up on developments in the industry is critical to our own growth.

Be Attentive – While the toolkits and strategies our competitors use to forge ahead are often secret, their impact on the product is visible to anyone who takes the time to look.

Experiment – It’s important to continuously experiment with new workflows and techniques. There is no need to throw out the rulebook, but adding your own flourish to a tied and true tool or including a new approach in an otherwise conventional project, can be a great learning opportunity.

Plan Learning Time – By blocking out time in our busy schedules and setting concrete benchmarks, we can make learning a more engaged and rewarding experience.

Be Proactive – If there is a question you have, asking for a training module, or even just a clarifying comment, could benefit not just you, but the whole team.

Find a Mentor – Mentors can help situate developments in a broader view of the industry, not only helping us triangulate where we are but also building a more nuanced picture of what is to come.

Know yourself – We can only become truly effective learners by focusing the same critical eye on our own work that we do on the work of others.

Using these insights to set goals for ourselves and to inform an evolving strategy of success is the only way to effectively apply the learning techniques we integrate into our lives.

Effects of Technology on Life

According to studies, the average millennial picks up the smartphone 150 times a day. This over-dependence on tech is known as technology addiction. In 2008, a study conducted at Scotland’s Dundee University found that adults over the age of 55 who grew up in a household with a black and white TV set were more likely to dream in Black and white. Younger participants, who grew up in the age of Technicolor, nearly always experienced their dreams in color. The American Psychological Association seconded these findings in 2011.

Over-usage of technology damages the brain systems connecting emotional processing, attention and decision-making. A new study links anxiety, severe depression, suicide attempts and suicide with the rise in use of smartphones, tablets and other devices.

FOMO – Fear of Missing Out is defined by The New York Times as “the blend of anxiety”, inadequacy and irritation that can flare up while skimming social media. Social Media is bombarded with pictures and posts of scrumptious dinners, raging parties and enviable travel check-ins. These activities might not be one’s idea of fun, but when one recognizes that pang, “Should I be doing something else right now?” that’s FOMO.

Phantom Vibration Syndrome – This is the perception that one’s mobile is vibrating and ringing when it is not. It is characterized as a tactile hallucination since the brain perceives a sensation that is not present. Psychologists suggested that physical sensations, such as an itch, may be misinterpreted by the brain as a vibrating phone. Majority of cell phone users report experiencing phantom vibrations, with reporting rates ranging from 27.4% to 89%.

Shortened Attention Span – The constant use of technology has shortened our attention span from 12 Minutes to 5 Minutes. Constant news feeds and videos that are 10 Minutes or less has rewired our brains. People who are online an average of 5 hours a day have trouble remembering people’s names.

Popcorn Brain – The constant stimulation from electronics makes our brain accustom to “popping”, fast paced stream of information that we find on the internet. This is why we are becoming increasingly less adept to handle the slower pace of real life. This condition is known as “Popcorn Brain”.

Technology has altered human physiology. It affects memory, attention spans and sleep cycles. This is attributed to a scientific phenomenon known as neuroplasticity, or the brain’s ability to alter its behavior based on new experiences. Tech addiction may be a risk factor for alcohol and other drug abuse. People who overuse technology develop similar brain chemistry and neutral patterning to those who are addicted to substances.

Brain scans of people with tech addiction disorder are similar to those of people with substance addictions of alcohol, cocaine and cannabis.

Art of Running a Marathon

“We are different, in essence, from other men. If you want to win something, run 100 meters. If you want to experience something, run a marathon.” – Emil Zatopek

Recently, I ran the Jaipur City Marathon. It took me 4 Hours and 57 Minutes. My decision to run the marathon was based entirely on my lifelong dream of accomplishing such a feat. It was about realizing a dream and proving to me that I could do it. However, along the way, I realized numerous other benefits. I got into the best shape of my life. I found countless hours to reflect on my life and I have learned some valuable lessons.

Run Tall – If athlete back is collapsed a little bit then it makes it harder to breathe as easily and as freely as you might. Lengthened your back not stiff it, like an upward direction in the body. That takes the pressure off the ribs, off the diaphragm and one can breathe better.

Head Balancing – If one doesn’t balance his/her neck and spine nicely then it creates a lot of strain. One should be upright and looking forward. By this, one doesn’t feel so tight or cramped in his/her shoulders and have a greater range of arm movement too. It also helps psychologically not to be looking down at the floor when one gets to the point where legs are complaining.

Fuel Properly – One can’t complete a marathon without fueling his/her body correctly. Fuel your body properly by eating healthy.

Compete Less, Encourage More – It isn’t all about winning or losing, it’s about the experience and being in it together. Encourage all runners around you.

Feet and Arms in sync – Land your feet directly underneath body rather than shooting out in front. This reduces the braking forces and helps one run lightly. Also, move arms backwards and forwards slightly across body. When arms are used in this co-ordinated and rhythmic fashion, they are a wonderful source of power.

Knowing your Strength – One can discover their hidden strengths they never knew they had. Because strength comes from overcoming tasks which once thought were impossible to do.

Get Proper Gear – Select pair of shoes/socks wisely which doesn’t impact your knees while running on mortar road. Get used to shoes pair which you will wear on Marathon Day. Wear sweat absorb tees/shorts to avoid itching and load of sweating.

Hydration & Nutrition – Make your body properly hydrated before, during and after the race. Focus on having foods which have a low glycemic index (GI), such as oats, pasta and sweet potatoes. Get used to food one plan to eat or drink on race day during the training itself. Fats are advisable because they take about 2 hours more to burn compared to carbohydrates. Body will switch to fats as the energy source after initial carbohydrates have been burnt off.

Strength Training – Do a strength training session two-three times a week. Plantar flexion stretches, Knee extensions, shin and hip extension exercises are important to give forward thrust while running.

Increase Tempo – For long runs, get used to 10 Km run daily followed by Half Marathon once a week and increase tempo slowly.

One last thing to remember, over training can lead to injury and injury can lead to giving up. Don’t let a setback stop you in your pursuit of what you want. Take the spirit of determination of the marathon runner. Keep moving forward, one step at a time and one foot in front of the other until you get to finishing line. 

I will end with one of my favorite quote from Dean Karnazes: “Run when you can, walk if you have to, crawl if you must; JUST NEVER GIVE UP!”

Book Review: Predictably Irrational

When it comes to making decisions in our lives, we think we’re in control. We think we’re making smart, rational choices. But are we? From paying for coffee to losing weight, and buying a car to choosing a romantic partner, Author explains how to break through these systematic patterns of thought to make better, more financially sound, decisions. Predictably Irrational is not simply a fascinating read; it has the power to change the way we interact with the world – one small decision at a time. In the current economic crisis it is an invaluable tool that no person should be without.

Not only do we make astonishingly simple mistakes every day, but we make the same type of mistakes. We consistently overpay, underestimate and procrastinate. We fail to understand the profound effects of our emotions on what we want and we overvalue what we already own. Yet these misguided behaviors are neither random nor senseless. They’re systematic and predictable.

For instance in first chapter - “The Cost of Relativity”, the author tells us about the how prices of different commodities are kept relative to each other and keeping a costlier product next to a product which costs less can make the cheaper product look like a bargain and thus help the product sell.

In fourth chapter, Dan talks about the cost of social norms and how to keep the delicate balance between social norms and market norms. He also talks about how measuring every exchange in terms of money can be a big mistake. And why relationships building with clients are really important and helps build goodwill while the same thing can backfire badly and leave a bad reputation in market if not handled properly with lots of analogies and examples about the same.

From a startup perspective this book is immensely useful, whether it comes to pricing your products/services or Marketing them, this book gives you insights you never had and results you never expected to get. This book is medium paced and very sticky which makes it very difficult for a habitat reader to leave it mid-way.

Overall, I loved reading it and will revisit my notes when I notice such irrational behaviors either from myself or from others. Do read if human psychology, behavioral theories, motivation principles, biases etc. are topics that intrigue you. Take your time to read this book; skimming through it may not be effective.

Virtual Ownership

Ownership pervades our lives and in a strange way, shapes many of the things we do. Adam Smith wrote, “Every man and woman lives by exchanging, or becomes in some measure a merchant, and the society itself grows to be what a commercial society is properly”. Much of our life story can be told by describing the ebb and flow of our particular possessions – what we get and what we give up.

Since so much of our lives are dedicated to ownership, wouldn’t it be nice to make the best decisions about this? Unfortunately, this is rarely the case. We are mostly fumbling around in the dark. Why - because of three irrational quirks in our human nature. The first quirk is that we fall in love with what we already have. The second quirk is that we focus on what we may lose, rather than what we may gain. The third quirk is that we assume other people will see the transaction from the same perspective as we do.

Ownership also has “peculiarities”. For one, the more work you put into something, the more ownership you begin to feel for it. Pride of ownership is inversely proportional to the ease with which one assembles things. Another peculiarity is that we can begin to feel ownership even before we own something. “Virtual ownership” is one mainspring of the advertising industry. We get a catalog of hiking clothing from Patagonia, see a polyester fleece pullover and we start thinking of it as ours. The trap is set, and we willingly walk in. We become partial owners even before we own anything.

Ownership is not limited to material things. It can also apply to points of view. Once we take ownership of an idea – whether it’s about politics or sports – what do we do? We love it perhaps more than we should. We prize it more than it is worth. And most frequently, we have trouble letting go of it because it can’t stand the idea of its loss. What are we left with then, an Ideology – rigid and unyielding.

There is no known cure for the ills of ownership. As Adam Smith said, it is woven into our lives. But being aware of it might help. Everywhere around us we see the temptation to improve the quality of our lives by buying a larger home, a second car, a lawn mower and so on. But once we change our possessions we have a very hard time going back down. Moving backward to our pre-ownership state is a loss, one that we can’t abide, it’s psychologically painful. 

Other currencies equivalent to Bitcoins

From around $1000 in the beginning of this year, Blockchain based cryptocurrency bitcoin is today nearing $20,000 mark. The boom in Bitcoin value has also helped its rivals surge. Cryptocurrencies like Ethereum, Litecoin and Ripple too have soared to records in the past few weeks. Here are some closest rivals of Bitcoins.

Ethereum – It is one of the hottest rivals of Bitcoins. Launched in the year 2014, it is currently the second most valuable cryptocurrency. Like Bitcoin, it is also a type of Blockchain network. Ethereum is a decentralized platform that runs smart contracts. Applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

The Bitcoin and Ethereum Blockchains differ primarily in purpose and capability. While the Bitcoin Blockchain is used to track ownership of the digital currency bitcoin, the Ethereum Blockchain can be used to build decentralized applications. The virtual currency associated with Ethereum is called Ether.

Ripple – It is reportedly considered as logical successor to Bitcoin. It was launched in the year 2012 by former Bitcoin developers and is a startup using Blockchain technology that as per its website connects Banks, payment providers, digital asset exchanges and corporates. It also operates as a payment network called RippleNet. XRP is Ripple cryptocurrency. It has been soaring to record high since Bitcoin jumped. Currently, Ripple XRP is up more than 7,000% from its 0.65% at the beginning of last year.

Litecoin – The digital currency Litecoin too has emerged as a strong rival to Bitcoin, giving tough competition to other cryptocurrency rivals like IOTA and Ripple. Litecoin has surged over 5,700% last year till December 12, whereas Bitcoin had gained 1,550% during the same period. It is a peer to peer cryptocurrency, launched in 2011. Litecoin is very similar to Bitcoin in its technical implementation. The biggest advantages of Litecoin are claimed to be speed and low fees. Litecoin uses Scrypt Algorithm; it reportedly demands memory instead of processor resources. Generating new Litecoin is possible through mining as well.

Zcash – It claims to be the first open, permission-less cryptocurrency that can fully protects the privacy of transactions using zero knowledge cryptography. Like Bitcoin, Zcash is a Blockchain based currency. Launched in October 2016, as per Zcash website, its monetary base too is the same as Bitcoin’s – 21 Million Zcash currency units and is mined over time.

It is a scarce token just like Bitcoin which can be transferred globally and exchanged to/from other Cryptocurrencies or flat currencies via online exchanges, in-person transactions etc. Recently, Zcash became the third digital currency to receive the backing of the Bitcoin Investment Trust and the Ethereum Classic Investment Trust.

Dash – Is an open source peer to peer cryptocurrency. Dash can be used to make instant private payments online or in-store using our secure open source platform hosted by thousands of users around the world. Bitcoins shortcomings led to the development of cryptocurrency Dash. Its three biggest benefits, as per its website, are said to be Instant, Private and Security. It claims to send payment confirmations in less than a second. Two protect user’s financial information by safeguarding their activity history and keeping balances private. Three transactions are claimed to be confirmed by 200 TerraHash of X11 ASIC Computer power and over 4,500 servers hosted around the world.

Monero – It is claimed to be a secure, private and untraceable cryptocurrency. The open source cryptocurrency created in April 2014 has been soaring for the past five weeks with prices more than tripling since early November. Monero Research Labs is also said to be working hard to bring down the network’s transaction fees by as much as 80%. Monero developers are said to be implementation Bulletproofs to bring down transaction sizes on the network.

IOTA – It is another emerging bitcoin rival. It has marked capitalization of Rs 0.75 Lakh crore. IOTA represents a third generation of Blockchain after the development of Bitcoin.

Life Lessons I Learned from Mountains

Over the past few years, I’ve developed a deep love for Mountains. No matter the season or the location, there’s something about towering peaks and deep valleys that inspire me. There is a gravity in mountains which pulls me toward itself. Adventure Travel is an activity that requires a leap of faith, one that pushes you to move out of your comfort zone, knowing that you are giving up on your comfort to try something new, something daring, something challenging, yet fun and adrenalin pumping. An experience that you won’t forget, that will change you in a way or another without you even notice it.

Trekking in the mountains may look fun, but it is not for the faint of heart. It takes a lot of determination and willpower to complete a hike and reach the destination and sometimes, the descent is an even more challenging journey that one has to face. But, at the end of day, you are going to realize that it is the challenges and the hardships that will make you stronger as a hiker and as a person. There are many things one can learn from the mountains that individual can apply in their own life.

Dream Big – One should make great plans for future. It is said modesty is a virtue. I believe modesty is not a virtue when it comes to self-assessment and goal setting. There is no limit to what one can accomplish in life if one dreams big, stay committed to success and work hard.

Avoid Naysayers – There will be people who will tell you that you can’t accomplish your goals. It’s too hard”, “You set your sights too high” “and that’s not possible”. Never allow yourself to be fenced in by the doubts or expectations of others. Sometimes your worst naysayer is yourself. I reach a point where I feel overwhelmed by the difficulty of the task and I want to give up and try another time. You too will hit those hard patches during your life journey and will think about giving up on your dream. Banish those thoughts from your mind and stay the course. Surround yourself with people who are better than you.

Set Goals – In order to accomplish great things in life, one need a game plan. With the help of others, create that game plan. Sometimes it is best to focus just on the short-term goals so you are not overwhelmed with the enormity of the task. Break list of task for the year into smaller groups of things to accomplish each month. Always be motivated.

Work Hard – Anything is possible if you work hard and are mentally committed to success. This requires short-term sacrifice for long-term gain. If you work hard now and sacrifice some fun in the short term, you will enjoy a lifetime of happiness and satisfaction.

Positive Attitude – Mental preparation is far more important than Physical preparation. An important part of mental preparation is to visualize success. Always do best to make experience less painful and more pleasant with a smile and few words of encouragement. In a world full of vague cynics and sourpuss, an infectious positive approach can boost the morale and lift up the disheartened spirits of the people around you.

Learn from Mistakes – One will experience setbacks, disappointments and failures. When that happens, pick yourself up, dust yourself off, figure out what went wrong, make the necessary adjustments and get on with the journey.

Trust – Trust in yourself and your ability to succeed. Trust in others, for example, your family, friends, teachers, pastors and teammates. Most important of all, place your full trust in the Lord.

Enjoy the Journey and always give Thanks – Savor the positive experiences on your life journey. Find the best in every situation and hold on to those great memories. Always remember to thank the people who have supported and helped you realize your dream. Most of all, thank the Lord who loves you the most and keeps you solidly focused on the path to happiness and success.

Gratitude and Kindness – It has been truly said that every true success is a mankind joint venture. Live by those words. Help others, just as you have been helped. The smallest act of kindness can set in motion events that transform lives and benefit society. Do your part to lift up those in need and help them reach their full potential. Your life will be enriched by random acts of kindness.

Value of Teamwork – You won’t achieve your goal if you don’t work together, and you won’t have a successful project or product launch if somebody in your team messes up.

Time and Resource Management – Time is precious. Everyone’s day has 24 hours. No more and no less. So how you tackle those 24 hours can make the difference between a wasted day and a day you can be proud of. Pack your stuff and manage them properly. Avoid materialistic things which are not required. Maintain cleanliness and share stuff within team.

Stress Management - Stress is quickly becoming one of the biggest health issues in the world today. Going to the mountains is a meditative and spiritual experience, a true break from the daily grind and monotonous worry.

Patience - Mountains have taught me patience. Keep a calm, clear head and stay focused on what is important. Only people who can wait through this difficult period potentially can continue the journey and reach the top.

When the task is complete and you got the reward move on to the next task. Realize how far you’ve come and how much you’ve accomplished. Revel in that success.

Book Review: Phantoms in the Brain

A Brilliant “Sherlock Holmes” of neuroscience reveals the strangest cases he has solved – and the insights they yield about human nature and the mind. Using such low-tech tools as cotton swabs and mirrors, and working with patients whose neurological symptoms range from hallucinating cartoon characters to thinking their parents are impostors, Dr. V.S. Ramachandran uncovers answers to deep and quirky questions of human nature that few scientists have dared to address, including why we laugh or become depressed; how we make decisions, deceive ourselves, and dream; why we may believe in God; and more. This is inspired medical sleuthing that pushes the boundaries of medicine’s last great frontier: the Human mind.

He introduces patients with strange, sometimes extraordinary symptoms – a man who experiences orgasms in an amputated, or phantom, foot; a woman who is convinced that her own arm must belong to her brother; stroke victims who insist they can move their paralyzed limbs; an accident survivor who believes that his parents are imposters; perfectly sane men and women with hallucinations of animals, objects, even cartoons – and then offers his ideas about what is going on in the patient’s brain that would explain such symptoms.

Often he devises ingenious experiments involving mirrors, gloves and helpful graduate students to test his ideas. The results are a new understanding of how information from different senses interacts and how the brain forms new connection and updates its model of reality in response to new sensory inputs. The wide ranging author also looks into the brain for clues about the mystery of autistic savants, human laughter, multiple personality disorder, religious experiences and the very nature of the self. Besides informative drawings and images of the human brain, the text contains numerous illustrations demonstrating optical phenomena that demand reader involvement.

I was very pleased by author sober discussion of “qualia” and his careful treading on the question of religion and the mind-body interaction in general. His argumentation is overall very balanced; he comes across as an open-minded scientist who isn’t pushing any particular agenda, but is simply driven by curiosity. I didn’t find his elaborations on the nature of consciousness too enlightening but I guess consciousness is to neuroscience what the cosmological constant is to physics, everybody’s got an opinion about it and nobody finds anybody else’s opinion convincing. Altogether, I learned quite a lot from this book and especially the section on denial has given me something to think about.