The first day of Ramadan in Kashmir. AP
The first day of Ramadan in Kashmir. AP
The first day of Ramadan in Kashmir. AP
The first day of Ramadan in Kashmir. AP


Ramadan 2022 will be bittersweet


  • English
  • Arabic

April 04, 2022

This weekend, Muslims around the world welcomed Ramadan, with the holy month commencing in the UAE on Saturday. As the first sunset fell, cannons were fired to mark the end of the first day of fasting.

Even more striking than the roar of artillery was the nature of the audiences that surrounded the guns. In Abu Dhabi, outside the Sheikh Zayed Grand Mosque, Cody Combs, a social media journalist for The National, delivered a piece to camera without a mask, now possible after the UAE lifted the mandate on outdoor face coverings in February. In Dubai, shoppers by Burj Khalifa thronged the ceremony in greater numbers than would have been found in the past two years. With Covid-19 travel restrictions now lifted in many countries, the attendees would have been more international than before, too.

All are signs that, at least in terms of social and familial gatherings, this Ramadan is going to mark a much-needed return to normality. Speaking to The National, last-minute shoppers in Dubai were stressing how important this is. Hasnaa Nofal, a pharmacist from Egypt, said: “Ramadan is truly a special time because it brings all of the family together. You make sure you spend that time together that you might not otherwise have throughout the year."

As travel returns to normal, Makkah and Medinah will be welcoming worshippers to the Holy Mosques, particularly to the Kaaba for Umrah.

  • Omanis gather as goats are sold ahead of the Eid Al Fitr holiday, in the Surur area of Samail province, 80 kilometres south-west of the capital Muscat. AFP
    Omanis gather as goats are sold ahead of the Eid Al Fitr holiday, in the Surur area of Samail province, 80 kilometres south-west of the capital Muscat. AFP
  • Iraqi Sunni Muslims gather for the Laylat Al Qadr – Night of Power – in the shrine of cleric Sheikh Abdel Kader Al Gilani, in central Baghdad. EPA
    Iraqi Sunni Muslims gather for the Laylat Al Qadr – Night of Power – in the shrine of cleric Sheikh Abdel Kader Al Gilani, in central Baghdad. EPA
  • Palestinians pray on Laylat Al Qadr beside the Dome of the Rock shrine, at the Al Aqsa Mosque compound, in Jerusalem's Old City. Reuters
    Palestinians pray on Laylat Al Qadr beside the Dome of the Rock shrine, at the Al Aqsa Mosque compound, in Jerusalem's Old City. Reuters
  • A man stares at the dome of a mosque, in Syria's northern city of Raqa. AFP
    A man stares at the dome of a mosque, in Syria's northern city of Raqa. AFP
  • A volunteer from the charity Violet Org hands out food packages for the suhour meal eaten in Syria's rebel-held northwestern city of Idlib. AFP
    A volunteer from the charity Violet Org hands out food packages for the suhour meal eaten in Syria's rebel-held northwestern city of Idlib. AFP
  • Residents of Ezbet Hamada gather to eat during iftar in Mataria, Cairo. Reuters
    Residents of Ezbet Hamada gather to eat during iftar in Mataria, Cairo. Reuters
  • Ramadan decorations at Global Village, Dubai. Chris Whiteoak / The National
    Ramadan decorations at Global Village, Dubai. Chris Whiteoak / The National
  • Syrians break their fast during a gathering organised by various groups in Tadef, near the city of Al Bab, in Aleppo province. AFP
    Syrians break their fast during a gathering organised by various groups in Tadef, near the city of Al Bab, in Aleppo province. AFP
  • Street traders cut up dessert pastries for sale at a market in Libya's eastern city of Benghazi. AFP
    Street traders cut up dessert pastries for sale at a market in Libya's eastern city of Benghazi. AFP
  • People breaking their fast at Quba Mosque, Madinah, Saudi Arabia. SPA
    People breaking their fast at Quba Mosque, Madinah, Saudi Arabia. SPA
  • Fasting Muslim worshippers queue to receive iftar meals, donated by a charity, in Mahboula, south of Kuwait City. AFP
    Fasting Muslim worshippers queue to receive iftar meals, donated by a charity, in Mahboula, south of Kuwait City. AFP
  • Yemenis read the Quran during Ramadan at a mosque in the old city of Sanaa, Yemen. EPA
    Yemenis read the Quran during Ramadan at a mosque in the old city of Sanaa, Yemen. EPA
  • People queue outside Al Farooq Mosque in Dubai before sunset, waiting to break their fast. EPA
    People queue outside Al Farooq Mosque in Dubai before sunset, waiting to break their fast. EPA
  • Shoppers at a market after their iftar meal, in the New Aleppo district of the northern Syrian city of Aleppo. AFP
    Shoppers at a market after their iftar meal, in the New Aleppo district of the northern Syrian city of Aleppo. AFP
  • An Egyptian dancer performs the traditional tanoura dance at a restaurant in the Omani capital Muscat. AFP
    An Egyptian dancer performs the traditional tanoura dance at a restaurant in the Omani capital Muscat. AFP
  • A famous Ramadan lantern inscribed with holy month greetings at Al Hamidiya market in Syria's capital Damascus. AFP
    A famous Ramadan lantern inscribed with holy month greetings at Al Hamidiya market in Syria's capital Damascus. AFP
  • Volunteers stir a pot of rice for a charity iftar at the eighth century Umayyad Mosque in Syria's capital Damascus. AFP
    Volunteers stir a pot of rice for a charity iftar at the eighth century Umayyad Mosque in Syria's capital Damascus. AFP
  • Omanis gather to break their fast on the beach in Muscat. AFP
    Omanis gather to break their fast on the beach in Muscat. AFP
  • Cooks employed by the Islamic Charitable Society prepare iftar meals for Palestinian orphans and families in need, in the West Bank city of Hebron. AFP
    Cooks employed by the Islamic Charitable Society prepare iftar meals for Palestinian orphans and families in need, in the West Bank city of Hebron. AFP
  • Iftar is served outside a mosque on the Jazeera State highway in the village of Al Nuba, about 50 kilometres south of Sudan's capital Khartoum. AFP
    Iftar is served outside a mosque on the Jazeera State highway in the village of Al Nuba, about 50 kilometres south of Sudan's capital Khartoum. AFP
  • A worshipper reads the Quran inside a mosque in Syria's northern city of Raqqa. AFP
    A worshipper reads the Quran inside a mosque in Syria's northern city of Raqqa. AFP
  • The first Friday prayers of Ramadan at the shrine of Sheikh Abdul Qadir Al Kilani, the former Sunni Muslim preacher, in central Baghdad. AFP
    The first Friday prayers of Ramadan at the shrine of Sheikh Abdul Qadir Al Kilani, the former Sunni Muslim preacher, in central Baghdad. AFP
  • Worshippers attend the first Friday prayer of Ramadan at Hagia Sophia Grand Mosque in Istanbul, Turkey. Reuters
    Worshippers attend the first Friday prayer of Ramadan at Hagia Sophia Grand Mosque in Istanbul, Turkey. Reuters
  • Palestinians cross the Qalandia checkpoint in the occupied West Bank on their way to the first Friday prayers of Ramadan at Jerusalem's Al Aqsa Mosque. Reuters
    Palestinians cross the Qalandia checkpoint in the occupied West Bank on their way to the first Friday prayers of Ramadan at Jerusalem's Al Aqsa Mosque. Reuters
  • An Egyptian baker prepares kunafa, a Ramadan dessert favourite, at a market in Cairo. EPA
    An Egyptian baker prepares kunafa, a Ramadan dessert favourite, at a market in Cairo. EPA
  • Dawn awakeners known as musaharatis beat drums to wake Muslims for the suhour meal before the day's Ramadan fast in Damascus, Syria. AFP
    Dawn awakeners known as musaharatis beat drums to wake Muslims for the suhour meal before the day's Ramadan fast in Damascus, Syria. AFP
  • Moroccan King Mohammed VI, centre, and Spanish Prime Minister Pedro Sanchez, second left, share an iftar meal in Sale, Morocco. AP
    Moroccan King Mohammed VI, centre, and Spanish Prime Minister Pedro Sanchez, second left, share an iftar meal in Sale, Morocco. AP
  • Iranian women read the Quran at the shrine of Shah Abdol-Azim in Tehran. Reuters
    Iranian women read the Quran at the shrine of Shah Abdol-Azim in Tehran. Reuters
  • A Ramadan catch-up at a cafe in Mosul, Iraq. Reuters
    A Ramadan catch-up at a cafe in Mosul, Iraq. Reuters
  • Prayer beads are in great demand during Ramadan in Sanaa, Yemen. EPA
    Prayer beads are in great demand during Ramadan in Sanaa, Yemen. EPA
  • A musaharati drummer wakes people for suhour in Manama, Bahrain. Reuters
    A musaharati drummer wakes people for suhour in Manama, Bahrain. Reuters
  • The old city in Tripoli in Libya is decked with Ramadan decorations. Reuters
    The old city in Tripoli in Libya is decked with Ramadan decorations. Reuters
  • Food packets arranged for distribution in Al Najieh, in Syria's rebel-held Idlib province. AFP
    Food packets arranged for distribution in Al Najieh, in Syria's rebel-held Idlib province. AFP
  • Worshippers gather at Al Sahlah Mosque in Kufa, near the city of Najaf, Iraq. Reuters
    Worshippers gather at Al Sahlah Mosque in Kufa, near the city of Najaf, Iraq. Reuters
  • Iftar at the Prince Mansour Assaf Mosque in central Beirut, Lebanon. EPA
    Iftar at the Prince Mansour Assaf Mosque in central Beirut, Lebanon. EPA
  • An elderly Palestinian reads the Quran at his shop in the old city of Hebron in the occupied West Bank. AFP
    An elderly Palestinian reads the Quran at his shop in the old city of Hebron in the occupied West Bank. AFP
  • Displaced Syrian children return to their camps with boxes of food on the outskirts of the rebel-held town of Dana, in Idlib province. AFP
    Displaced Syrian children return to their camps with boxes of food on the outskirts of the rebel-held town of Dana, in Idlib province. AFP
  • Ramadan lanterns at a shop in Beirut. AP
    Ramadan lanterns at a shop in Beirut. AP
  • A Palestinian man carries a tray of qatayef, traditional Arabic dumplings, in Rafah, southern Gaza. AFP
    A Palestinian man carries a tray of qatayef, traditional Arabic dumplings, in Rafah, southern Gaza. AFP
  • A cannon is fired at Sheikh Zayed Grand Mosque in Abu Dhabi to mark the end of fasting on the first day of Ramadan. Victor Besa / The National
    A cannon is fired at Sheikh Zayed Grand Mosque in Abu Dhabi to mark the end of fasting on the first day of Ramadan. Victor Besa / The National

Even modern technology is shaping the holy month, making it easier to observe and celebrate globally. The Islamic Crescents Observation Project at Abu Dhabi's International Astronomical Centre now publishes a map showing the regions where a crescent moon can be seen by the naked eye alone, as well as with a telescope, information that determines when the season begins.

But while progress adorns much of Ramadan 2022, there are also worrying trends emerging. Last year, food prices were rising at unhealthy rates, making iftar, the meal that breaks the daily fast, dangerously expensive for the region's poorer residents. Now, in large part due to the Ukraine conflict and the Middle East's over-reliance on food imports, costs are even higher.

Families might feel safer coming together this year, but all is still not well if the shared meals they were so looking forward to are limited by economic hardship. Many will be forced to rely on charity. An important one is the UAE's global One Billion Meals campaign that was announced to coincide with Ramadan. It will help people in 50 countries, many of which are in the Middle East. It is desperately needed. In Lebanon, for example, more than 20 per cent of households are now food insecure, according to the UN's World Food Programme.

An important aspect of Ramadan is recognising the spiritual benefit of resilience and sacrifice. The tragedy of Covid-19 means these reflections will probably be more intense than usual, as will the relief of being with family and friends once again. But the world's problems are not ending as the pandemic appears to be easing, and, this year, prayers should be offered for an end to new global crises, too.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

BOSH!'s pantry essentials

Nutritional yeast

This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.

Seeds

"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."

Umami flavours

"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".

Onions and garlic

"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."

Your grain of choice

Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The biog

Hobby: Playing piano and drawing patterns

Best book: Awaken the Giant Within by Tony Robbins

Food of choice: Sushi  

Favourite colour: Orange

Essentials

The flights

Etihad (etihad.ae) and flydubai (flydubai.com) fly direct to Baku three times a week from Dh1,250 return, including taxes. 
 

The stay

A seven-night “Fundamental Detox” programme at the Chenot Palace (chenotpalace.com/en) costs from €3,000 (Dh13,197) per person, including taxes, accommodation, 3 medical consultations, 2 nutritional consultations, a detox diet, a body composition analysis, a bio-energetic check-up, four Chenot bio-energetic treatments, six Chenot energetic massages, six hydro-aromatherapy treatments, six phyto-mud treatments, six hydro-jet treatments and access to the gym, indoor pool, sauna and steam room. Additional tests and treatments cost extra.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

DEADPOOL & WOLVERINE

Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin

Director: Shawn Levy

Rating: 3/5

UAE gold medallists:

Omar Al Suweidi (46kg), Khaled Al Shehhi (50kg), Khalifa Humaid Al Kaabi (60kg), Omar Al Fadhli (62kg), Mohammed Ali Al Suweidi (66kg), Omar Ahmed Al Hosani (73), all in the U18’s, and Khalid Eskandar Al Blooshi (56kg) in the U21s.

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2012.9-inch%20Liquid%20Retina%20XDR%2C%202%2C732%20x%202%2C048%2C%20264ppi%2C%20wide%20colour%2C%20True%20Tone%2C%20ProMotion%2C%201%2C600%20nits%20max%2C%20Apple%20Pencil%20hover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EChip%3A%3C%2Fstrong%3E%20Apple%20M2%2C%208-core%20CPU%2C%2010-core%20GPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%20Storage%20%E2%80%93%20128GB%2F256GB%2F512GB%20%2F%201TB%2F2TB%3B%20RAM%20%E2%80%93%208GB%2F16GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20iPadOS%2016%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2012MP%20wide%20(f%2F1.8)%20%2B%2010MP%20ultra-wide%20(f%2F2.4)%2C%202x%20optical%2F5x%20digital%2C%20Smart%20HDR%204%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20ProRes%204K%20%40%2030fps%2C%204K%20%40%2024%2F25%2F30%2F60fps%2C%20full%20HD%20%40%2025%2F30%2F60fps%2C%20slo-mo%20%40%20120%2F240fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%20TrueDepth%2012MP%20ultra-wide%20(f%2F2.4)%2C%202x%2C%20Smart%20HDR%204%2C%20Centre%20Stage%2C%20Portrait%2C%20Animoji%2C%20Memoji%3B%20full%20HD%20%40%2025%2F30%2F60fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%20Four-speaker%20stereo%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Face%20ID%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%2C%20smart%20connector%20(for%20folio%2Fkeyboard)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20Up%20to%2010%20hours%20on%20Wi-Fi%3B%20up%20to%20nine%20hours%20on%20cellular%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFinish%3A%3C%2Fstrong%3E%20Silver%2C%20space%20grey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20iPad%2C%20USB-C-to-USB-C%20cable%2C%2020-watt%20power%20adapter%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20WiFi%20%E2%80%93%20Dh4%2C599%20(128GB)%20%2F%20Dh4%2C999%20(256GB)%20%2F%20Dh5%2C799%20(512GB)%20%2F%20Dh7%2C399%20(1TB)%20%2F%20Dh8%2C999%20(2TB)%3B%20cellular%20%E2%80%93%20Dh5%2C199%20%2F%20Dh5%2C599%20%2F%20Dh6%2C399%20%2F%20Dh7%2C999%20%2F%20Dh9%2C599%3C%2Fp%3E%0A
Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Sukuk

An Islamic bond structured in a way to generate returns without violating Sharia strictures on prohibition of interest.

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Tickets

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Tips%20for%20holiday%20homeowners
%3Cp%3EThere%20are%20several%20factors%20for%20landlords%20to%20consider%20when%20preparing%20to%20establish%20a%20holiday%20home%3A%3C%2Fp%3E%0A%3Cul%3E%0A%3Cli%3E%3Cstrong%3ERevenue%20potential%20of%20the%20unit%3A%3C%2Fstrong%3E%20location%2C%20view%20and%20size%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EDesign%3A%20furnished%20or%20unfurnished.%3C%2Fstrong%3E%20Is%20the%20design%20up%20to%20standard%2C%20while%20being%20catchy%20at%20the%20same%20time%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EBusiness%20model%3A%3C%2Fstrong%3E%20will%20it%20be%20managed%20by%20a%20professional%20operator%20or%20directly%20by%20the%20owner%2C%20how%20often%20does%20the%20owner%20wants%20to%20use%20it%20for%20personal%20reasons%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EQuality%20of%20the%20operator%3A%3C%2Fstrong%3E%20guest%20reviews%2C%20customer%20experience%20management%2C%20application%20of%20technology%2C%20average%20utilisation%2C%20scope%20of%20services%20rendered%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Adam%20Nowak%2C%20managing%20director%20of%20Ultimate%20Stay%20Vacation%20Homes%20Rental%3C%2Fem%3E%3C%2Fp%3E%0A
What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

RESULTS
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Updated: April 04, 2022, 7:10 AM