Why Use a Blockchain?

The blockchain is the new hype in the market. The more and more people are able to understand its implications; they are investing more as well into it.

Blockchain not only is helping people to generate large-scale profits but it can be seen as a high-level use case.

To study this technology, many people have invested millions now over the past couple of years, to understand the technology a little better. Many tests and examination have been laid out to check if the scenarios conducted are appropriate for the market. Blockchain has not only created new digital relations but the revolution has developed a need for many centralized administrations.

But why exactly one should use a Blockchain anyway? One of the reason is that it is an incorruptible ledger in a digital format and offers a private key for the cryptocurrencies. Additionally, storing information on a piece of paper can get complex, as it requires a physical seal for safety.

Why Use a Blockchain?

Furthermore, if the transaction is happening on a daily basis then having a blockchain technology will be an intelligent solution to counter the human limitations. Blockchain also helps in preserving the history of the transactions and offers the flexibility to write new entries on it.

But with all this talk, one should keep in mind that this might not be the right way to go to. Before getting into blockchain you should research thoroughly. There are many flowcharts created by the investors to help you decide between a modern blockchain technology or a traditional master copy or you can check some best exchanges to trade cryptocurrencies.

But even after seeing all the pros and cons of the blockchain technology, one central question that remains is whether at the end of it should the technology be controlled by a central authority? You will get varied responses from many people. On one hand, investors do agree that there should be a third party authorization, as privacy is an important parameter to be taken care of.

However, on the other hand, investors believe that privacy can be taken care through n number of ways as well, without the need of any authentications. Cryptocurrency is a perfect example for this. You do not require any centralized system as it has push transactions feature.

Binance_CryptoWallet

On a completely different note, if we talk of speed, we first need to understand whether your database requires processing millisecond transactions. If the answer is yes, then the best for you will be to stick with a traditional database that is centralized in nature, as blockchains can be slow on this front. Apart from it, storing data in a blockchain requires cost – also called mining of every block. A traditional database has a plus point to this as they are less expensive as compared to a blockchain.

Even though full limits and possibilities of blockchain still need to be discovered, but the used cases have been successful in all the inspection and the technology is worth an investment.

Investment Services Personalized for You

Through Hometown Investment Services, Inc., a wholly-owned subsidiary of Home Federal Bank, we offer a wide range of investment services and products through Raymond James Financial Services, Inc. We can help guide you toward your investment goals with full-service planning, solid advice, and more choices.

We constantly monitor your retirement goals and funds. In fact, we’re the nicest number-crunchers you’ll ever meet.

If you’re planning for retirement, or you’ve already reached it, we offer:

  • Goal-focused strategies
  • Customized and tailored plans

Here are some common scenarios and how Hometown Investment Services can help:

1. You changed jobs and wonder what to do with your 401(k) account. To gain greater control of your investment choices while still maintaining your tax-deferred status, a Rollover IRA may be right for you. If you have multiple 401(k) and/or IRA accounts, they can be pulled together to work for you. We will identify the investment option that provides the results you desire. We’ll monitor investment progress, and inform you when by law it’s time to begin taking withdrawals. You’re almost 70½, you have multiple IRAs, and you want to stay out of trouble with the IRS. Consolidating IRAs into one investment account can eliminate many headaches. At the beginning of each calendar year, we’ll advise on the amount you need to withdraw as a mandatory distribution. You also have the option to take your distribution quarterly or monthly (like a paycheck from your hard-earned retirement nest egg). We can assure that all the proper tax reporting is done on your behalf. You heard about Roth accounts and wonder how they are different from traditional IRAs. It’s all about taxes. In a traditional IRA, you don’t pay income taxes when you put money in; instead, you pay income taxes when you take it out. In a Roth IRA, the tax consequences are the opposite. The best option depends on your age, your time horizon, and other retirement resources. You retired, but you feel you’ve lost money during your IRA’s roller-coaster ride over the years. As you approach retirement, it’s more important to preserve what you have. You may need more stability in your retirement portfolio. You may be taking more risk than you intend or you may not be enjoying the returns you should.

Together, we will design an investment mix that meets your income needs and helps you stay on track during your retirement years. You will see results clearly through our periodic statements and performance reports. We expect to meet with you on a regular basis to fine-tune your portfolio to reflect changes in your needs and goals.

*Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent broker/dealer. Hometown Investment Services, a wholly-owned subsidiary of Home Federal Bank, and Raymond James Financial Services are not affiliated. Account Executives are Registered Representatives of Raymond James. Securities • Are NOT Bank Deposits • Are NOT FDIC Insured • Are Subject to Risk and May Lose Value • Are NOT Insured by Any Government Agency • Carry NO Financial Institution Guarantee

Located in Bloomington, MN, Infinia Bank is a division of Home Federal Bank of South Dakota, a bank with an over-80-year track record of success, and is backed by the strength of a $1.2 billion parent company, HF Financial Corp. (NASDAQ: HFFC). When you need real solutions, we’re the bank for you. Infinia. Community. Driven. Banking.

If you have any doubts regarding Investment Services feel free to contact us here.

Online Access to Your Investment Accounts

Keeping a close eye on your finances? You can access your accounts anytime, day or night. Through Hometown Investment Services, Inc., a wholly-owned subsidiary of Home Federal Bank (and with products through Raymond James Financial Services, Inc.), you can keep track of your investment portfolio and more online, making it simple and convenient for you, when you want.

Our investments log in is currently unavailable due to our transition to Raymond James Financial Services. We apologize for the inconvenience. Should you have questions, please call your investment broker or customer service at 333-7696 or 1-866-405-9255.

*Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent broker/dealer. Hometown Investment Services, a wholly-owned subsidiary of Home Federal Bank, and Raymond James Financial Services are not affiliated. Account Executives are Registered Representatives of Raymond James. Securities • Are NOT Bank Deposits • Are NOT FDIC Insured • Are Subject to Risk and May Lose Value • Are NOT Insured by Any Government Agency • Carry NO Financial Institution Guarantee

Located in Bloomington, MN, Infinia Bank is a division of Home Federal Bank of South Dakota, a bank with an over-80-year track record of success, and is backed by the strength of a $1.2 billion parent company, HF Financial Corp. (NASDAQ: HFFC). When you need real solutions, we’re the bank for you. Infinia. Community. Driven. Banking.