Blockchain Innovations #3

Top 7 fascinating uses of Blockchain

Blockchain, the technology behind the Bitcoin and several other cryptocurrencies can be the next big thing, as per many Fintech gurus. Although, majority of the people currently think that blockchain can be just used for digital transactions, but there are many more exploits of blockchain. Cryptocurrencies are just a start for the blockchain. Pretty much every industry can be benefited by the Blockchain technology. Slowly but surely, the blockchain is getting into several major industries. In this article, you’re about to read about the 7 interesting uses of the Blockchain.

  • Riot Bitcoin:

This former biotech company became the first ever completely Blockchain based public stock after getting listed on the NASDAQ. RIOT is the ticker symbol of this stock. Riot bitcoin has re-branded itself from its former self, Bioptix. Currently, they’re not doing any research and development on the Blockchain, but they’re providing an opportunity for the people to invest in the blockchain ecosystem that’s based on Bitcoin and Ethereum. 

  • Bitpesa:

Africa being the least advanced segment of the world is not an unknown fact, especially financial wise. Most of the African trade is conducted through cash. Bitpesa, a new blockchain based company is trying to resolve the liquidity and money transfer fragmentation of the Africa. The Bitpesa application lets the users to carry out business throughout the Africa with the integrated forex payment features. 

  • Golem:

Miners contribute to the mining of cryptocurrencies by utilizing their computing power in the blockchain network. Computing power is in high demand for many industries. Golem is a blockchain-based company which connects the computing power to the people who’re in need of it. Golem has a large network of data centers and individual users who’re willing to offer their computing power in return for cryptocurrencies. 

  • Storj:

You must have been aware of the cloud storage systems, if you ever use Dropbox or Google drive. In the last decade, there’s been a massive increase in the cloud storage usage. Storj’s primary focus is to build and upgrade the cloud storage technology. Usually, most of the cloud storage services save the data in central servers which are heavily prone to cyber attacks. Storj aims to solve this problem by eliminating the central server concept by introducing the blockchain technology which is decentralized.

  • OpenBazaar:

You may have some funds in cryptocurrencies which you fail to use it in reality. Yes, that’s a major issue with the cryptocurrencies. Many people are stuck with their cryptocurrencies for not being usable practically. But, OpenBazaar aims to solve this problem. The OpenBazaar is a blockchain-backed marketplace that allows people to make purchases with their cryptocurrencies. You can buy a lot of things, rent an apartment or even buy a digital course with your cryptocurrencies. 

The above-mentioned uses are just a few examples of several blockchain uses. With time, the blockchain technology is set for much bigger applications in our lives.

Advertisements

BlockChain Innovations #2

Beginners guide – What is Blockchain?

Everyone is talking about the Bitcoin and other cryptocurrencies. All the digital media delivering a lot of news telecasts about the cryptocurrencies. The whole world is hyped about the new breed of the currencies. But, only a few people are aware of the technology behind the cryptocurrencies. The technology which gave rise to the cryptocurrencies is none other than the Blockchain. Satoshi Nakamoto, an anonymous man created the Bitcoin, the world’s first cryptocurrency in the year 2008. 

Many people say that the blockchain is a technology that will impact our world as similar to the impact of internet on us. Fintech gurus predict that Blockchain is going to be the future of both the financial and technology industries. Even though, the blockchain technology was limited to the bitcoin in the beginning, gradually many other startups and some already established companies started implementing the block chain technology into their projects. Even some governments have realized the potential of blockchain, for which they’ve started appropriate departments to develop projects based on this disruptive technology. 

What exactly is the Blockchain?

In simple words, Blockchain can be defined as ‘distributed ledger technology’. For a better understanding, the Blockchain technology is somewhat similar to the Wikipedia. The entries of Wikipedia are controlled and maintained by the large network of contributors, but not by a single organization. In the same way, Blockchain works on the basis of peer-to-peer technology. There is no single entity controlling how the project works. The blockchain technology is backed by it’s distributed network. 

How transactions work on Blockchain?

The majority use of the blockchain technology currently is for the transactions of cryptocurrencies. Decentralization is the most important thing that blockchain brings to the table. In the blockchain technology, every user node updates the network periodically. This is what makes the blockchain all more interesting. The data for every transaction is downloaded to every participant of the blockchain network. 

When a new transaction needs to be happen, a complex problem is introduced to the network for which all the network users try to solve the problem with their computing power. Once the problem is solved by a user node, the transaction happens and the information is synced to everyone on the network, this information is known as a Block. So, the data goes to all the network users, which makes pay for the elimination of any potential fraud. 

What is Mining?

A lot of people misinterpret that the mining process is supposed to create new cryptos. But in reality, mining is the mechanism that helps the blockchain to be a decentralized security network. Mining is what validates every transaction and keeps the records on global decentralized ledger network. Miners are the people who solve the complex problems and contribute to the completion of a transaction. The solution that miners find for the complex mathematical problem is called ‘Proof-of-work’. For the work they’ve done, the miner who solves the problem successfully receives a reward.

Beginners guide – What is Biomedicine?

People all around the world follow different ideologies, faiths, and religions. In the same way, the medicinal field has different branches with different methodologies. Each branch has its own set of unique characteristics, advantages, and disadvantages. Each and every doctor aims to follow his methodology or simply ‘Pathy’. Doctors try to strictly follow the norms of they medicinal methodology. Among all the medicinal branches, the Biomedicine must be considered as the golden median due to it’s possession of almost all types of medicinal approaches mingled into one. 

There’s a huge hype for the Biomedicine in the recent years. It is applauded by many medical experts, who’re saying that the Biomedicine if the future of medical field. Several researches and development programs are going on all around the world to gain more knowledge about this medicinal approach. Following the US, the European nations are heavily investing in the research and development of the Biomedicine. Genetic disorders, sclerosis, and gerontology are in the prime line of medicinal conditions that are supposed to be benefited heavily with the progress of the Biomedicine. Although, the Biomedicine industry has been around since the last century, the industry has seen a massive surge in the last two decades.

  • Biomedicine features:

There are many different branches of medicine and life sciences such as biology, genetics, anatomy, chemistry, biochemistry, pathology, veterinary science, zoology, microbiology, physiology, botany, and much more. Biomedicine inspires from all these medicinal branches and takes the beast features out of each and unifies into one. Usually, all the popular medicinal branches work on practical applications, whereas the biomedicine acquires the solution through theoretical approach and research. With this approach, the biomedicine has a more chance of producing an affective solution. One more important thing about the Biomedicine branch is, it can be useful for both humans and animals. Biomedicine if the first medicinal branch where the humans and animals are given the equal importance. 

  • Biomedicine divisions:

Biomedicine research filed consists of two divisions which are Clinical research and Pre Clinical research. Both are equally important in finding out the medicinal techniques.

  • Clinical Research: It is involved in utilizing the research and treatment. This research division aims to find out the efficiency of the developed treatment method.
  • Pre Clinical Research: This research division is involved in researching about the history of the disease, treatment and effectiveness. 
  • Advantages and Disadvantages of Biomedicine:

With any type of medicinal approach, there’s always two sides of a coin. The same applies to the Biomedicine as well.

  • Advantages: Biomedicine branch tends to find the most effective treatment methods by thorough research of the disease. 
  • Disadvantages: Since the world is getting aware of this medicinal approach in a slow pace, there’s no serious regulation currently.

People should look forward for much more advancement in the Biomedicine industry in the coming years. With the rate of its growth, it is predicted to be one of the major medicinal branches in the near future.

A beginner-friendly guide to LED lights

LEDs have become the most proficient source of lighting accessible, utilizing something like 90% less energy than traditional lighting and 60% lesser when compared to fluorescent lighting. Nonetheless, LED lighting has not generally been the cost-proficient alternative that it is currently, with the primary model LEDs costing around 200 USD each. Since the first LED was made in 1962 the innovation has developed quickly, with LED lights turning into a well known lighting equipment as of late.

All in all, what precisely are LEDs and how might you profit by equipping them all through your business premises? 

A Light Emitting Diode (LED) is an electrical light source that enables an electrical current to stream one way. LEDs contain two conductive materials that are put in contact with each other – once power is connected to the diode, the molecules in a single material end up getting chared with energy. This energy is then discharged as electrons into the other conductive material – this energy release is the thing that produces light. The way toward creating light is the thing that recognizes LEDs from conventional lighting, as traditional incandescent bulbs deliver light by generating heat.

The replacement of traditional lights with LEDs:

Retrofit LED bulbs look like conventional halogen or incandescent lights, and can be utilized in the same fittings as the traditional bulbs. These sorts of LEDs are appropriate for most of the situations. A close attention should be paid to the heat dissemination of the bulbs, particularly while being utilized as a part of encased light fittings. On the other hand, speciality LED light fittings can be outlined with non-replaceable LEDs, as because of the expanded life expectancy of LED bulbs they don’t have to be supplanted routinely. In these situations the entire fitting is supplanted once it arrives at the finish of its life expectancy. These fittings can be designed to accomplish the highest amount of proficiency conceivable, as they are specially crafted to the building to lessen the amount of squandered light.

How much can be saved by by converting to LEDs?

When contrasting LEDs with conventional lighting technology, the expanded energy productivity and broadened lifespan result in a considerable long haul savings. As mentioned before, LEDs utilize about 90% less energy than incandescent (counting halogen) and 60% lesser compared to old fluorescent lighting, saving you some energy costs. Over this, the expanded life expectancy of LED bulbs implies they should be supplanted far less routinely, additionally lessening any extra maintenance costs. Investing your money into a full LED transformation may appear to be overwhelming at first because of the investment required. Be that as it may, the resulting cost savings            will mean any involved investment is soon reimbursed. 

If you’re looking to cut down your electric costs with a durable lighting alternative, LEDs are the best bet for you. For some example of application of LED Light in Engineering, go and check www.afm-group.net for the airfield, whereas www.mafrex.com is for the railway field.

Fascinating facts about Biomedical Engineering

Two of the most important industries to our society, Medicine and Engineering have combined forces to get unified and become Biomedical Engineering. Humanity has been getting helped by these two fields for many centuries. The combination of these two worlds has led to a much more advanced field of science. Biomedical engineering has a vast field with so many uses for mankind. The last two decades has witnessed the drastic rise of the Biomedical engineering all around the globe. 

Medicine and Engineering are rapidly evolving fields that has seen a lot of innovation in the last century. The globalization has led to the sophistication of these two industries. Many scientists around the world are now working on upgrading the Biomedical Engineering to provide much better services to the society. For the questions that medicine and engineering couldn’t answer, many believe that the biomedical engineering can be the solution. Here are some interesting facts about the Biomedical Engineering:

  • The first ever bionic arm was created by the Biomedical engineers:

In the year 1993, a team of biomedical engineers has created the first bionic arm through the procedure of biomedical engineering. This bionic arm consisted of various pulleys, motors, and electronic equipment that enables the users to hold items with the help of artificial fingers. By the year 1998, the technology of translating the brain impulses into movement inputs came into existence. This made the bionic arm available to the people for usage. 

  • Biomedical engineering is responsible for artificial organs:

There are various artificial organs that are accessible today that are an immediate consequence of this field of research. Individuals can survive with manufactured hearts and kidneys that are embedded. Portable amplifiers have helped millions have the capacity to keep hearing as they get more seasoned. Pacemakers help to keep heart rates controlled. Life expectancies are being expanded because of the astounding developments that are originating from this field.

  • Corrective surgery equipment is a part of this field:

If you have got a poor vision, have you at any point been enticed to get laser eye surgery to remedy the issue? If you did that you have, at that point you’ve considered utilizing a creation that originated from biomedical building. Computers that assist doctors to break down disease functionality and even automatic insulin pumps are all piece of this field too.

  • Astounding future of this field:

Biomedical designers today are dealing with a lot of imperative projects. A standout amongst the most important is the improvement of a procedure of recovery for spinal circles. As individuals get older, gravity packs the spine and the shock engrossing traits of a spinal disc starts to wear off. By infusing fluids into the disc space that transforms into a gel-like pad, biomedical engineers have possessed the capacity to reduce pain by supporting and reenacting a healthy spinal disc.

The world is progressing in the medical and engineering fields with the inception of the Biomedical engineering. It has completely changed our perception of our medical outlook.

Blockchain Innovations

I have been researching and reading about this new technology, which is one of the main components of Bitcoin, the cryptocurrency.

Blockchain as a technology is a new development in Information Technology, it requires an understanding of programming as well as basic accounting, such as what is a ledger.

It is founded on smart contracts, contracts which through algorithms enter automatically in function, as well as distributed ledger, a ledger which is controlled and shared among anonymous parties.

So what is a blockchain?

As the name implies, informations is held in packages then shared among multiple anonymous users, which verify their informations.

This informations are held not on a single storage but among immediate intermediaries.

How is Blockchain related to Innovation?

Blockchain as an innovation is related to how the storage and the flow of informations will happen. It changes how business conduct themself, as now transactions happens through intermediaries, in the blockchain, the transaction is direct, but the trust system is shared.

Is innovative because this influences various industries, such as Healthcare, Banking, Finance, Energy, among others industries.

How it relates to what I do?

In principle i am a newbiee, a new user of sharing communications, and my work is on establishing what can be of advantage to my business and my future. I believe that this new technology has a potential of changing many industries, and currently many are working on development of blockchain and cryptocurrency as a mean of staying competitive, although its development is complicated and costly, i believe that a sustainable competitive advantage can be reached if this technology will be implemented with sustainable resources and energy solutions, thus in my case, is good as it gives many future opportunities of work.

How much this development cost?

I found various prices on the internet, from $3500 for smart contract and token development by polygant, to $500 000 for a full Initial Coin Offering, this is an enormous cost, and i believe in the future the cost of development will decrease, but for now is better to observe.

Blogging Tuesday

What this blog post is about?

Mainly this post is about blogging, as I will dedicate this section on a guide on what to write and how to post content that is found on the internet.

1. To start a blog has to have a title, in this case, the blog title is:

BlogExperts

2. A headline

A little word from the web.

3. Registration for the blog on WordPress or another host.

4. Customize the Blog by choosing a theme.

5. Write and post some content:

And some content, in this case, Blogging Tuesday. Or Strategy Friday.

6. Promote your blog:

For promotions I will discuss with a different thread in regards on how to plan for internet marketing.

7. Make money via advertising and affiliate marketing.

Strategy Friday #4 Blockchain as an open innovation

Recently I have been reading a lot in regards of Business and Management, as a difference to the regular approach to corporate visits, which is something I would enjoy doing, however, haven’t been contacted to visit them and be given insight.

So for this reason, if you enjoy reading about business, and would like a better insight, why not engage me in real person for a visit.

Anyhow, today topic is something of a passion in which I have invested a little and have the chance of being around of extraordinary circumstances and people who are in the business.

Today topic is in reference to Blockchain, a technology which is pure open innovation, something which has many applications, from Government with e-Government projects to the energy sector.

Blockchain, I have been reading in Don Tapscott book, can be an innovative solution for the future 100 years.

Already advertised on TV through TV shows, it’s applications are many.

The most interesting perhaps is the electrical utility concept, as it can improve the situation of many countries, for example, Iraq, in which electricity offering is not stable and many people use Diesel Generators, this polluting the environment and raising the global temperature, in which during summer reaches to over 50 degrees Celsius.

Blockchain used for electrical metering can notify immediate power outages and surges, as well as allow for smart metering.

Blockchain with the internet of things can be a success story which allows for future generations to reap the benefit.

I imagine a future where most of the energy is renewable this not polluting, or only minimally. In conclusion, strategically speaking, Blockchain is an enabler technology and a gateway to future technology.

Open Innovation VS Closed Innovation

Welcome to my blog, in this blog i discuss about innovation, management and business strategy.

Today topic is a discussion between a concept in innovation that is defined as type of innovation strategy.

Nowadays, innovation discussion is clearly a critical dimension in any dynamic approach to business, as it allows businesses to achieve and defend competitive advantage.

Closed innovation, is the more classical approach to innovation, and in such, it develop patents, (intellectual property, licenses and grants) through formal means, and closed corporations.

Open Innovations is more related to the development of technology through adiacent and common techniques, such as outsourcing, competition establishing, and game theory.

Open Innovation, as defined by Dr. Henry Chesbrough in his book, is: “the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively. Open Innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas ideas, and internal and external paths to market, as they look to advance their technology. (Chesbrough, Open Innovation, p.2).”

Here is a graph of the two distinct type of innovations as explained in his book.

Graph explaining the different type of innovation strategy.

In the past i had the privilege of working for a short time period in both type of organisations, closed ones and open ones. I wont say which organisation for reason of privacy. But they were large organisations.

In both organisations the important aspect was the development of work in which was happening. I noticed immediately that in the open innovative business communication was more open and the setting of collaboration was more direct, whereas, the type of collaboration in closed innovation was more secretive, as patents and new research and development techniques were happening.

Personally i preferred the open innovative business, which allowed to learn new skills such as Wiki development and learning Marketing first hand and people skills. Working in open innovative companies is like working for a new startup, in which capital is limited, but passion is everywhere, and there is will to improve even when there are limited resources, whereas working in closed innovative companies is challenging as resources are present, but competition drives the work.

Today topic is more of a self reflection and less of a guide, compared to previous topics.

However, I will post a second article about Edge Strategy soon, as I am reading a book about it, and will be related to Corporate Strategy.

Digital Disruptive Technologies

Today’s topic of innovation management goes and discuss an important trend started by a research of Harvard Professor Clayton Christensen.

The topic is one of Technological Disruption. The main force, which allows small incumbents to compete against large players in the marketplace.

Not everybody is aware of this trend in Innovation Management is almost 30 years old, started in 1995 goes and analyses various technologies and industries in which innovations have brought to its knees big corporations.
As discussed in his introduction in the Innovator Dilemma, companies often fail because there are cheaper new technologies which allow targeting future customers revenue, even if at the time of the release of the original product they are unaware of the latest Technology.
Clayton divided its book into ten chapters and discussed in the first chapters about the failure to implement these new innovations.
At the same time, goes and proceeds by explaining success strategies in the field of business.
It’s essential to notice that most of the literature is wrong to target only to failure, but he builds his case against valid points. There are other schools which also sustain his thesis, which, define that most often is the management fault of big companies which make the company fail to implement or develop new technologies. In recent times, it is explained that this failure in management is not only due to new cheaper Technology, but also because successful companies try to compete in new market segments which are not ready.
There is a rationale behind all that, and that with the advent of the disruptor, the existing player has already focused its energy on his current strategy, thus, is unable to concentrate his effort to the new Technology.

Image-1.jpg

In my latest article, I gave a little explanation of what disruption management should be about, but I forgot to mention the importance of disruption in business.

According to research from Stanford University, every disruption brings prosperity as GDP grows, and so does the spending.

Currently there the trend is in the banking industry.
New technologies have been developed that allow for a better mobile banking experience, and the economist goes and explains that there could be saving for each person if these new technologies are implemented.
Currently, I have not completed the section about disruptive technology because it is a chapter which I’m reading currently about in my literature research, so please do allow me some more time to collect more informations about new technologies such as bitcoin and blockchain and how they can be implemented in other markets and industries, not only in the financial sector.

Currently, I’m also reading Hernando De Soto, Why Capitalism Triumph in the west and fails elsewhere, and I believe that this two topics can be interconnected, as his thesis is about property law and services to extralegal, and I’m becoming a fan of this topic.