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Investment and crypto scams on the rise as fraudsters take advantage of cost of living crisis – iNews

Investments that appear too good to be true may be a scam waiting to happen, as figures shows that the number of fake investment opportunities has risen in the last year.

A growing number of investment scams involve cryptocurrencies such as Bitcoin in some capacity as criminals aim to take advantage of the cost of living crisis, the latest complaints data from the Financial Ombudsman Service (FOS) show.

Scams often involve someone being persuaded to buy cryptocurrency through a legitimate intermediary and then sending money to what they believe is a genuine investment platform, which is in reality operated by fraudsters.

In cases of investment fraud, the FOS said it has seen examples of consumers being scammed out of tens or even hundreds of thousands of pounds.

The ombudsman said that it received 570 complaints from customers about investment fraud, making up 30 per cent of its total complaints volume in the first quarter of the financial year. This is up from 500 complaints, or 21 per cent, last year.

The FOS upheld around 60 per cent of investment fraud complaints in consumers favour between April and June this year.

Other scams appear to be dropping off in popularity, according to the FOS data: impersonation scams, which include so-called safe account fraud, accounted for 627 complaints, or 33 per cent of customer queries, while those involving missing goods remained consistent with last years figures at 25 per cent of total complaints.

Nausicaa Delfas, interim chief executive and chief ombudsman at the FOS, said: We are concerned that, in current economic circumstances, people could be tempted to invest in fake investments.

Our advice to consumers is be wary, conduct their own research, check the FCA register and contact the firm directly on the number listed.

If people feel they have been treated unfairly by their bank, they should contact the Financial Ombudsman Service, and we will see whether we can help.

Rocio Concha, Which?s director of policy and advocacy, said that fraudsters would be even more active in the current economic climate.

Fraudsters are constantly refining their tactics in order to trick us into sending them money and will often use events, like the cost of living crisis, to help them, she said.

With millions of consumers seeing their budgets squeezed by rising prices, and with currently no savings account matching the rate of inflation, many will turn to alternative means in order to gain better returns on investment. Unfortunately, that often means falling into the hands of scammers, who are able to flood social media with paid-for advertising to promote bogus investment scams promising high returns.

Ms Concha also urged the government to pass the Online Safety Bill to put the onus on tech platform operators to police the content published by their users.

Separate data collated earlier this year by TSB found that almost one in every five transfers that the banks customers were making to cryptocurrency transfers were being reported as fraud.

It led to TSB deciding to the ability for customers to make cryptocurrency transfers as a way to protect them.

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Cardano ($ADA) Cryptocurrency Cardano Decreases More Than 3% Within 24 hours – Benzinga

Over the past 24 hours, Cardano's ADA/USD price has fallen 3.84% to $0.47. This is opposite to its positive trend over the past week where it has experienced a 13.0% gain, moving from $0.44 to its current price.

The chart below compares the price movement and volatility for Cardano over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has climbed 39.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.13%. This brings the circulating supply to 33.82 billion, which makes up an estimated 75.16% of its max supply of 45.00 billion. According to our data, the current market cap ranking for ADA is #8 at $15.97 billion.

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New UK PM Liz Truss once said this on cryptocurrency. What to expect? | Mint – Mint

Mary Elizabeth Truss (Liz Truss) becomes the third female to serve as the Prime Minister of the United Kingdom. She will be appointed as PM by Queen Elizabeth II on September 6. With that, the reign of former PM Boris Johnson has ended today. Expectations over reforms such as tax cuts, energy crises, and other long-term issues for economic growth have heightened with Truss taking the charge of UK. Notably, the cryptocurrency market also believes that Truss' new role could drive digital assets and bring in policy changes that don't constrain their potential.

In 2018, way before being a United Kingdom PM, Truss made positive remarks on cryptocurrencies in her tweets.

She tweeted on January 30, 2018, "we should welcome cryptocurrencies in a way that doesn't constrain their potential." To drive the potential of cryptocurrencies, Truss had suggested liberating free enterprise areas by removing regulations that restrict prosperity.

The leader of the Conservative Party has been serving as the Secretary of State for Foreign, Commonwealth, and Development Affairs since 2021 and Minister for Women and Equalities since 2019. She has taken Cabinet roles under Prime Ministers David Cameron, Theresa May, and Boris Johnson.

She won the election after beating rival Rishi Sunak, the former Chancellor of the Exchequer.

Dileep Seinberg, Founder & CEO, MuffinPay, Bill Payment & Utility Crypto said, "Liz Truss, the newly elected Prime Minister of the UK, gave her thumbs up to the cryptocurrencies in 2018, but we should wait for her latest stance as its been four years. Furthermore, she is responsible for serving the expectations of her fellow citizens and representing a nation at global forums. There is a lot more to go, and we are hopeful that something positive will emerge in the days to come."

However, Seinberg also added, "her election to represent the UK will likely boost the government's agenda for digital assets. She might be at the forefront & emerging as the new voice of crypto-led discussions at the global level, and the UK, a prominent G-20 Nation, may lead in the direction."

Further, Seinberg said, "Truss has been an anti-regulatory personality at the core of crypto assets. If she walks the talks as per what she said earlier, the UK may emerge as the crypto or Web3.0 capital of the world. If Truss had a vision, she would take it as a mission."

"A friendly and comprehensive approach might be on the platter in the coming days," he said.

On Monday, the global cryptocurrency market is trading on a positive note currently in both valuations and volume terms. Bitcoin and Ethereum, the giants of the market, were also in the green.

At the time of writing, the global market cap is around $982.95 billion up by 0.75% over the last day. Meanwhile, the total crypto market volume climbed 18.70% to $53.27 billion over the last 24 hours, as per CoinMarketCap. Bitcoin is near $19,900 and advanced nearly 1% in 24 hours. While Ethereum surged over 3% and is performing at a little over $1,600.

The cryptocurrency market is a unique platform for investments with great potential. Both private and public sectors are warming up towards cryptocurrencies as they accelerate a revolution in financial services. They have been gaining momentum in terms of trading, investments, buying and selling goods, and lending among others.

However, regulatory norms along with a lack of clarity in terms of data and management -- are some of the drawbacks. Cryptocurrencies are highly risky compared to other regulated market-related instruments, and sensitive driven.

At present, as per CoinMarketCap data, there are 20,865 cryptocurrencies with 525 exchanges.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Avalanche ($AVAX) Cryptocurrency Avalanche’s Price Increased More Than 6% Within 24 hours – Benzinga

Over the past 24 hours, Avalanche's AVAX/USD price has risen 6.23% to $19.82. This is contrary to its negative trend over the past week where it has experienced a 1.0% loss, moving from $19.98 to its current price. As it stands right now, the coin's all-time high is $144.96.

The chart below compares the price movement and volatility for Avalanche over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has tumbled 35.0% over the past week while the circulating supply of the coin has risen 3.36%. This brings the circulating supply to 294.71 million, which makes up an estimated 40.93% of its max supply of 720.00 million. According to our data, the current market cap ranking for AVAX is #16 at $5.87 billion.

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What Determines the Price of a Cryptocurrency? – The Crypto Basic – The Crypto Basic

Introduction

It is a fairly known fact that cryptocurrencies are one of the most volatile asset classes in history. It is not uncommon for cryptocurrency assets to record triple-digit gains or losses in a single day as they grapple with the forces of supply and demand.

This feature of cryptocurrencies has attracted daring traders to the markets looking to strike a fortune, while still keeping risk-averse investors away from the space. While it may seem like crypto prices have a mind of their own, there is a science behind these price fluctuations.

As traders walk the tightrope of wild price swings, the use of a coin price tracker like CoinStats is a sure-fire way to always stay one step ahead of the volatility. The crypto portfolio tracker has features like auto alerts, a stellar news aggregator, and access to enterprise-grade research tools to take trading to the next level.

Several factors play a role in the wild price swings including the utility, cost of creating new tokens, and government regulations amongst others. This piece will delve into details on what determines the price of a cryptocurrency and without further ado, lets dive right in.

Although cryptocurrencies stand apart from other types of assets, they are still governed by the forces of supply and demand. The general rule of thumb is that cryptocurrency prices increase when there is a spike in demand amongst traders, and an oversupply of a crypto asset will lead to a fall in prices.

To balance the forces of supply and demand, cryptocurrency projects have employed elaborate processes to control the circulation of tokens. Some of the processes are implemented in the token minting stage to regulate the creation of new tokens. For example, with each mined Bitcoin block, only a fixed amount of BTC enters into circulation. The use of a fixed maximum supply for cryptocurrencies is another method of maintaining equilibrium, with Bitcoin going the extra mile to introduce a halving feature to create scarcity.

Cryptocurrencies without a fixed maximum supply have adopted the strategy of burning existing tokens to put a lid on circulation. The common means of burning is to send the tokens to an unrecoverable address, and this strategy has been employed by projects like Shiba Inu and Ethereum to relative success.

The creation of new tokens plays an integral role in crypto prices. Cryptocurrencies, especially those with a Proof-of-Work consensus mechanism, generate new tokens through mining, i.e. solving complex mathematical problems through computing power.

This method of crypto mining often requires the use of expensive mining equipment and large amounts of electricity supplies to function. Given the high costs of mining processes, miners will only be incentivized to secure the blockchain network when they will be sufficiently rewarded for their efforts.

The complexity of the mining process of a particular cryptocurrency contributes to an increase in its price. This is particularly evident in Bitcoin and Ethereum, the two largest crypto networks that have reached highs of $64,789 and $4,891 respectively, and consume the most electricity in their mining processes.

Cryptocurrency traders often approach the markets by focusing on technicals by peering at the charts for hours. However, reports and activities around a particular cryptocurrency project are often decisive in determining prices.

For instance, reports of technological advancement or a groundbreaking partnership will precede a bullish run. Ethereums London hard fork and Cardanos Alonzo hard fork were the precursors for the bullish runs that led to the all-time highs of their native tokens.

Negative reports around a cryptocurrency project will send prices crashing to rock bottom as it triggers waves of bearish sentiments. Reports of a security breach or a botched upgrade have historically led to falling prices, with the DAO hack of 2016 leading to Ethereums decline.

Cryptocurrency exchanges play important roles in determining the prices of crypto assets. Projects listed on the popular exchanges increase the options of investors, leading to increased demand. This spike in demand correlates to an increase in asset prices.

For crypto projects listed on smaller exchanges, retail and institutional investors will not have diverse options to invest capital in those projects. A study from Messari noted the phenomenon of the Coinbase Effect in which crypto tokens recorded a marked spike in their valuations after being listed on leading exchanges.

Crypto exchanges play the role of providing liquidity to cryptocurrency traders. Low levels of liquidity are often behind high market volatility, while the presence of high liquidity ensures that the price swings are not chaotic. Bitcoin and other large-cap cryptocurrencies do not experience triple-digit swings in a day, but cryptocurrencies with small caps are susceptible to increased levels of volatility.

The rise and fall of cryptocurrency prices can be linked to the actions of government agencies and legislative houses. One positive law giving cryptocurrencies legal status in a jurisdiction can send prices to new highs, and a crackdown on cryptocurrency activities can spell bearishness for prices.

Chinas infamous crackdown on cryptocurrency activities in 2021 nearly sent the ecosystem to a crypto winter, and the SECs prolonged court case with Ripple Labs has had an adverse effect on XRPs price.

On a positive note, the approval of Bitcoin ETFs in the U.S. and the European Unions decision to not ban Proof-of-Work cryptocurrencies within its borders was a bullish moment for the crypto prices globally.

Cryptocurrency prices are determined by the interplay of several factors like government regulations, exchanges, media reports, and the duo of supply and demand. An understanding of these factors would be an added advantage for traders, helping them to make the right trading decisions.

Investors that are risk-averse may decide to stick with large-cap cryptocurrencies that do not have the downsides of erratic price changes, while those with a large risk appetite may wade to crypto assets with smaller market capitalization. Regardless of the side of the divide you stand on, a knowledge of the factors that determines cryptocurrency prices will be useful in navigating the markets.

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How is cryptocurrency funding terrorism across the globe – The Financial Express

At a time when the world is going through digital evolution, with currencies too being traded in the form of cryptocurrency, this has led to a rise in concern about insurgents using the same to mobilise terrorism. Case in point, when the Taliban a fundamentalistic Islamic group came into power on August 15, 2021, in Afghanistan, it was perceived that a lot of the money will be routed via cryptocurrency. However, the Taliban regime has banned cryptocurrency and claims to have arrested 16 local exchanges in the city of Herat in the northwest, according to the regional news website ATN-News.

Furthermore, as per a report by the Israeli Anti-money laundering (I-AML) website, in the year (August 2020-August 2021), terror organisations received Ethereum (ETH), ERC20 tokens, and XRP donations.

Fundraising by most active terror funding-related organisation over time.Courtesy: I-AML; Coinbase

Da Afghanistan Financial Institution (the central bank) stated in a letter that the trading of digital currency has caused several problems including fraud and hence it needs to be shut down. Sayed Shah Saadat, the head of the Herat polices counter-crime squad, told ATN-Information, We acted and detained all of the exchangers involved in the business and shut down their shops.

Meanwhile, the United Nations Counter-Terrorism week in June 2021 stated that the Covid-19 pandemic increased the potential for terrorist organisations to obtain money through online sources. The pandemic made an impact on the implementation of (countering the financing of terrorism) CFT legislation and measures, the South Asia Democratic Forum (SADF) report noted.

It is further noted that by the end of 2021, Chainalysis identified a number of terrorist organisations that have attempted to finance through cryptocurrency. In 2019, 2020, Al-Qaeda raised cryptocurrency through Telegram channels and Facebook groups, the report stated.

Share of total terrorism financing activity by organisation (2017-2021). Courtesy: Chainalysis

In the 2021 global crypto adoption index, blockchain analysis company Chainalysis ranked Afghanistan 20th among 154 countries in the 2021 Global Crypto Adoption Index. Furthermore, payment transfer companies such as PayPal and Venmo are not supported by banks in Afghanistan. This is restricting the financial services to the crypto traders.

Meanwhile, Google Trends data shows a greater than 100% increase in interest in the search keywords Bitcoin, crypto, and cryptocurrency, particularly in the provinces of Herat, Kandahar, Kabul, Nangarhar, and Balkh.

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Bitcoin ($BTC), Litecoin ($LTC) Multitoken Cryptocurrency Systems Like This One Could Prove More Resi – Benzinga

The world of cryptocurrency mining is a highly competitive and often cutthroat business.

Although a major trend in recent years has been away from proof of work (PoW), a system that relies heavily on miners running equipment that mines new tokens through running intensive computations, and toward proof of stake (PoS), which relies primarily on validators locking large sums of tokens away, PoW remains an incredibly important cornerstone of the cryptoverse.

Bitcoin BTC/USD famously relies on PoW and the miners that participate and compete for new BTC. There exists an interesting phenomenon within the Bitcoin ecosystem that is a beautiful example of the principles of supply and demand made manifest. Every four years, the difficulty of the Bitcoin network doubles and with it, production is cut in half.

When this happens, the value of Bitcoin tends to trend upward as the market adapts to the decrease in new supply. However, this is a gradual trend and in the meantime, miners incomes have been cut in half. This means that many miners, especially individuals and small operations, are no longer profitable and without the necessary liquidity to wait until the price corrects, they must close shop.

And this trend is evident in the BTC mining community. What consisted of individual hobbyists, enthusiasts and renegades just 10 years ago has been replaced by big business. The vast majority of mining operations are now concentrated into companies with serious capital behind them, squeezing out the little guy.

Other coins that have employed this system, like Litecoin LTC/USD, have seen a similar pattern emerge but magnified because the price action has not compensated for the decreased production, leaving thousands of miners in the lurch.

The project Seasonal Tokens may be one example to have found a solution. The project consists of four tokens Summer SUMMER/USD, Autumn AUTUMN/USD, Winter WINTER/USD and Spring SPRING/USD that are designed to rise and fall in relative value to one another. Every nine months, a coins production is halved, going from most productive to least. Instead of this leading to an exodus of miners, those miners can now mine any of the other three seasons.

The project has reported evidence that this works, too. On June 5, SPRING production was cut in half. This made it unprofitable to mine, and many miners chose to move to the other tokens that were profitable. This reduced the total power still dedicated to mining SPRING, making it profitable again for those remaining.

And over the course of the next two months, the price of SPRING rose to reflect the reduced rate of production, bringing some miners back to SPRING until an equilibrium was reached.

The project has proposed a novel way to deal with production changes, offering a way for miners to stay within the same ecosystem. This seems, at least so far, to have created a mutually beneficial environment in which there is an opportunity for miners and participants to continue to profit while remaining within the ecosystem.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Featured photo by Tim Foster on Unsplash

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The FCA and Cryptocurrency – Lexology

Syed Rahman of Rahman Ravelli considers the Financial Conduct Authoritys ongoing response to cryptocurrency-related issues and the cooperation between US and UK authorities.

In a speech at the Peterson Institute for International Economics, the Financial Conduct Authority (FCA) Chief Executive Nikhil Rathi talked of the benefits of the US and UK working together when it comes to cryptocurrency. His speech also outlined how he sees his agency responding to the challenges posed by crypto now and in the future.

Rathi spoke of the opportunities and risks associated with crypto, calling it a new product, easily accessible and able to operate cross-border that raised issues including consumer protection, market integrity, data privacy and financial crime. He cited the FCAs securing of an agreement with Google that it would not permit non-FCA verified firms to advertise financial products on its platform as an example of its achievements. He also outlined how the FCA sounded the alarm over supervising Binance and placed restrictions on it so it could not undertake any regulated activity in the UK without written consent.

The chief executive explained that the UK and US had held talks as part of the US-UK Financial Innovation Partnership, where there was an agreement reached to deepen ties on financial innovation after exchanging views on cryptoasset regulation and market developments. The UK, US and Singapore also announced the launch of the IOSCO (The International Organization of Securities Commissions) taskforce on decentralised finance and crypto market integrity risks.

While the FCAs remit is currently limited to anti-money laundering rules for platforms, it has applied those rules strictly; with what Rathi calls a significant number of firms having worked with the regulator to improve their controls and systems. He has said that the FCA has supported the development of many UK blockchain firms, with hundreds of companies going through its Innovation Hub programme that helps financial services firms launch innovative products and services.

The FCA held its CryptoSprints in May and June this year, where regulators, academics, industry experts and investors came together to discuss possible policy ideas in an attempt by the regulator to seek industry views about the crypto market and take soundings on how to design an appropriate regulatory regime. Rathi has said that those involved in this exercise viewed a regulatory regime for cryptoassets as a high priority and wanted any regulation phased in so that firms and investors could prepare and adapt to any rules that were introduced for cryptoassets.

The FCA has said its involvement with the Digital Regulators Cooperation Forum has boosted cooperation with the Office of Communications (Ofcom), the Competition Markets Authority (CMA), the Information Commissioner's Office (ICO) and the Financial Conduct Authority (FCA). Having joined as a full member in April 2021 after having previously been an observer member it is working with fellow members to develop a coherent approach to regulation and policy making, promote innovation, strengthen international engagement and work alongside other regulators.

In his speech, Rathi referred to how much the FCA values its ongoing enforcement cooperation with US agencies such as the Securities and Exchange Commission, the Commodity Futures Trading Commission and Department of Justice. This, he believes, has created an important set of precedents that demonstrate the ability to act effectively on a global basis.

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Notes from the trail: The push for November general election has begun, but first, local elections are nigh – Must Read Alaska

Most Alaska localities will have municipal and borough elections on Oct. 4.

Juneau: The Capital Citys municipal election will be mail-in for the third time, but for the first time the city will have it own ballot-counting machines. During the past two elections, officials have flown the ballots to Anchorage and contracted with the City Clerk to count Juneaus election.

Ballots for this election will be mailed on Tuesday, Sept. 13, to all Juneau voters at the address on file with the State of Alaska Division of Elections.

In addition to mailing in their ballots, there will be a couple of secure drop boxes that will be available 24-7 beginning Sept. 19. One will be at the Douglas Library; and the other at Statter Harbor.

Voters can return them by mail with postage. The city encourages getting the post office to hand-cancel that postage with a legible date on the postmark. Hundreds of ballots in last years election were rejected because of postmarking issues. People can also bring ballots to City Hall and the Mendenhall Public Library. More information about the Juneau election at this link.

Charlie Pierce: Tuesday night was Mayor Charlie Pierces final Assembly meeting after five years as mayor. He was planning to talk about his accomplishments as a mayor. Also, it looks like the Borough Assembly is going to swear in former Mayor Mike Navarre for the boroughs temporary mayor, until theres a special election held to finish out the final year for Mayor Pierce. (Navarre is a Democrat and on the Bill Walker for Governor campaign committee.)

Gov. Mike Dunleavy: Dunleavy will be in Homer on Wednesday evening for a meet-and-greet. Hes planning a press conference on Thursday, sources say, to announce what will be an historic Permanent Fund dividend.

Cook Political ratings for Congress:

Palins histrionics: Questions are being asked can candidate Nick Begich in all good faith recommend that voters rank second the person who is calling him Baggage? Or did Palin on Sunday self-immolate? Her Sunday public display has the whole state talking about her stability.

Random stumble: Sarah Palin on Sunday called out MRAK writer Suzanne Downing as a special problem for Palin and kept pointing at a woman in the media scrum she thought was Downing. It was actually Alaska Public Medias Liz Ruskin. Downing was not present at the press conference at the Palin house but sends Ruskin deepest sympathies for the mixup.

Begich v. Palin: Its too late for any of the candidates to drop out but media commentator Ann Coulter has run the numbers. On her podcast, she says that Sarah Palin should have dropped out, as she has hit her voter ceiling:

Events coming up this week:

Noteworthy: Some business leaders who were formerly more aligned with the Tara Sweeney for Congress camp have come over to the Nick Begich for Congress camp, such as Jim Jansen, Rick Fox, Dana Cruz, Casey Sullivan, and Kara Moriarty. Also notable is that a longtime friend and campaign fundraiser for Congressman Don Young has signed up as a cosponsor to a fundraiser: Curtis Thayer, one of the biggest names in the successes of Don Young.

Kelly Tshibaka: Senate candidate will be walking door to door in neighborhoods in Anchorage this week. Next week shell be in Southeast Alaska. Seen above, a rainbow over the Kelly Thsibaka sign on the Seward Highway.

Lisa Murkowski: Murkowski has been spending a lot of time in Ketchikan, her home turf. Shes been visiting schools and firewalls.

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20 Types of Engineering and Their Functions – Engineering Web

If you stand in the middle of a city or even in a room in your home and look around, at least 90% of what you see was developed by some kind of engineer. Engineering is the practice of using principles developed in various fields of science to produce novel products that dont exist in nature. Youre able to read this article on a computer or mobile device thanks to computer engineers who have worked tirelessly to develop computer technology. If youre currently inside a building, you can be fairly sure that its not going to fall in on you thanks to structural engineers. In this article, we present 20 different types of engineering and how their practitioners contribute to making our everyday lives a little easier.

Aerospace engineers work to develop things that fly-airplanes, spacecraft, missiles, and so on. They do so by incorporating physics principles such as lift, drag, and thrust. The products that they develop help to defend us from threatening nations and help us go where we need to go, whether thats a vacation to Greece or a space flight to Mars.

These engineers are all about food, not unlike myself. Except I just eat it. Food engineers help design systems for producing, storing, and distributing it. They are responsible for ensuring that we can continually produce enough food to feed our growing populations and that the food is stored in a safe and efficient manner. Without them, we would likely have to deal with food shortages on a regular basis.

Architectural engineers are tasked with designing buildings, preferably ones that wont fall down. To achieve this, they study things like the strengths of various building materials, how to make buildings withstand earthquakes and high winds, how different soil types affect the stability of a building, and so on. Without architectural engineers, we would presumably still be building our homes and community buildings out of mud and sticks. We certainly wouldnt have the large skyscrapers that we have today.

Automotive engineers design the cars, trucks, SUVs, and vans that you and I drive on a daily basis. They use their knowledge of things like aerodynamics, material densities, and even software and electronics applications to design everything from the physical shapes of cars to their complicated electrical systems. If we didnt have automotive engineers, getting around would be not only much slower but also much more difficult.

If youve ever been to a hospital, youve seen the work of this group. Biomedical engineers are the ones who design the devices and instrumentation used in the healthcare industry. Everything from prosthetic limbs to CPAP machines have been developed by biomedical engineers. They build the machines and other devices that help save our lives, deliver our babies, and sometimes just live a little more comfortably.

Biotechnology engineers use principles from biochemistry to develop things like medicine, cell and tissue cultures used in research, and even art! Seriously, do a google search for bio-art and you can thank me later. Like biomedical engineers, biotechnology engineers study ways to keep us alive and healthy. Without both biomedical engineers and biotechnology engineers, we would likely still have lifespans of only 35 years.

Chemical engineering is about designing new chemicals for all kinds of uses. They develop plastics and other polymers, fuels, medicines, and many other types of chemical compounds, as well as the processes that are used to make these things from raw materials. Life would definitely be a lot different without chemical engineers.

The neglected step-children of engineers, civil engineers design some of the most important systems. They design systems to supply people with clean water as well as systems to clean it back up after use. They also design things like roads, bridges, dams, etc. Without civil engineers, we would still be walking through the woods to a nearby river to get water.

Computer engineers dont only design home computers. They also develop mobile devices, embedded computer systems for industrial processing, computer peripherals like keyboards and printers, machine learning and artificial intelligence programs, and much more. For better or worse, we would never have reached the digital age without computer engineers.

Electrical and instrumentation engineers develop machines and equipment that are used in manufacturing, vehicles, research, etc. Most of the other engineers on this list rely in some way on instrumentation thats designed by an instrumentation engineer. They develop the instruments that help pilots fly and allow doctors and nurses to monitor your vital signs.

This is sort of a broader term that includes many of the other types of engineers in this list. Electronics engineers and communication engineers design things like computer systems and telecommunications systems. Electronics engineers design systems that incorporate things like motors and actuators as well as small electronics. Without electronics engineers and communication engineers, we wouldnt have many of the complicated electronics and control machinery that manufacturers use to produce all of our everyday products.

As you can imagine, environmental engineers work to solve problems related to the environment, typically problems caused by human activities. They design ways to decrease water and air pollution and chemical runoff from farms and manufacturing facilities. They also tackle issues of public health related to how we interact with our environment. Their biggest challenges involve keeping ecosystems functioning properly despite the continuing growth of human populations. Without environmental engineers protecting wild ecosystems, the organisms that we rely onthe bees that pollinate many of our crops, for examplemight not be around.

Industrial engineers and production engineers develop systems to increase efficiency in industrial and manufacturing facilities. They do this by incorporating things like automation to design new machines and processes that make better use of available resources. Many of the products that we buy would be much more expensive if not for the efficiency in manufacturing that results from the efforts of industrial and production engineers.

What aerospace engineers are to air, marine engineers are to water. They design things that go in the water, including ships, submarines, and even offshore drilling equipment. Many industries that we rely on, from fishing to logistics to defense, require ships and other water vessels to operate. Without marine engineers, we wouldnt have water skiing or Mediterranean cruises.

These engineers design and develop ways to take raw materials and turn them into materials that we can use to make valuable products. While this is also what chemical engineers do, materials science engineers typically only work with solids to make things like new stronger metals, nonmetals, and more. Many of the materials that the other engineers on this list rely on, like computer chips and plastics and metals for medical devices, wouldnt exist without materials science engineers.

Mechanical engineers design many types of machines, such as engines for vehicles and industrial uses, refrigeration systems for restaurants and food storage, turbines for power generation, and more. Without mechanical engineers, we wouldnt have refrigerators or air conditioning in our homes. Oh yeah, and we also wouldnt have any electricity to run them even if we did.

Geological engineers study things related to the earth. They can use the knowledge gained from their studies to tell us where to build a tunnel to connect a roadway to two sides of a mountain or how and where to build a hydropower plant. A mining engineer can assist us in safely building a mine for digging up things like coal or gold for energy production or for making electronics and jewelry.

Many nations around the world are incorporating nuclear energy into their national energy programs. The nuclear reactors that play a crucial role in producing nuclear energy are designed and built by nuclear engineers. They are tasked with ensuring the reactors are safe, not only for the people who work there but also for the people who live in the surrounding areas.

Petroleum engineers not only develop ways of finding oil underground but also methods of extracting it. Since most of our world runs on fuels derived from oil, its safe to say that things would be a lot different without petroleum engineers.

Textile engineering involves producing new kinds of fabrics and fibers, not only for making clothing and drapes but also for things like papers and cardboard products. Textile engineers ensure that humanity is not doomed to a life of nothing but cotton and wool socks.

From the products we buy to the homes that we live in, our lives are forever made easier by a group of people we call engineers. And this article is by no means all-inclusive. As new sciences emerge, so do new ways to utilize the fruits of those sciences in ways that can improve our lives. This is the job of an engineer.

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20 Types of Engineering and Their Functions - Engineering Web

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