Discuss two of the technology In Trends 6 through 11,
- Click reply to post your answer the discussion questions (approximately 150-300 words)
choose trends from ppt.
Module 2 Session 4
Trends 6 thorugh 11
Blockchains and Distributed Ledgers
Blockchain is an architectural concept that enables the decentralized, secure, direct, digital transfer of values and assets.
Distributed ledger consensus of replicated, shared digital data spread across multiple sites, countries, or institutions. No central administrator or centralized data storage.
Blockchain vs. distributed ledger
Blockchains – public, decentralized, peer-to-peer network
Distributed ledger – usually private, distributed network
What is Blockchain?
A blockchain is a linked list that is built with hash pointers instead of regular pointers
Socio-political-economic-semi-technical libertarian definition
A blockchain is an open*, borderless, decentralized, public, trustless, permissionless, immutable record of transactions
* All terms in red are debatable
A blockchain is a public, distributed ledger of peer-to-peer transactionspage
Growth of blockchain
Types of networks (from the viewpoint of control)
Immutable Once committed, data cannot be changed. No updates. Only append. How is that possible?
Consensus The network uses consensus (some form of agreement) to add data to the blockchain
Censorship resistant Anyone can join. Transactions/nodes/users cannot be censored so long as they adhere to protocol rules
No single point of control or failure
Peers can join and leave as they wish
Network functions even when peers may be
Ledger Records transactions
Trustless No requirement for a trusted intermediary. The trust is in the software/network even when peers are outright malicious.
Cryptographic Identity Peers assume any number of cryptographic identities. No central authority issues identity.
Why Blockchain technology will change the world
Enhanced security. Resists hacking by decentralizing the data storage layer. Spread the data thin, make it more difficult to attack. It is easier to attack a single central database than to attack numerous copies of the decentralized database.
Append only. No updates and deletes. Makes it an immutable record of historical facts. Proof of State.
Can be used to store anything of value that can be digitized.
Improves efficiencies in transaction clearing especially when dealing with multiple agencies.
Lowers transaction fees (?)
No central authority means no central trust. The blockchain itself provides digital trust. It is trustless.
Open and transparent. All transactions in history can be seen, tracked, and validated by anyone.
May become the ultimate proof of value ownership, bypassing governments, corporations, individuals, and criminals.
Provides powerful audit trails.
Where is blockchain?
It is decentralized
Nodes on the network hold copies of the blockchain (not all nodes need to have the entire copy)
When a new block is relayed, the other nodes validate it and add it to their blockchain
You can think of it as nodes (participants) each having a copy of the entire database of transactions
Any attempt to tamper with the history of the database will be evident to all other nodes and they will immediately reject the change
All nodes abide by the same consensus rules that govern the creation and validation of transactions. Otherwise other nodes will reject the offending transaction
Proof of State
The blockchain provides a Proof of State:
Existence: system of record, with timestamp
Ownership: who owns what
Integrity: no double spend of digital assets
Provenance: history of owners
Traceability: trail of movement
Blockchain Used in Practice
Verifying identity and credentials
Promoting traceability in the Supply Chain
Improving the banking industry
Cutting out the middleman
Making crypto currency more mainstream
Key Challenges for Blockchain
Need a clear plan to use blockchain
How to Prepare for Blockchain
Keep abreast of the blockchain technology
Begin to consider practical applications for blockchain
Cloud and Edge Computing
Cloud computing – Storing and processing data on other people’s computers (data centers) via a network (internet)
Access to huge amounts of computing power and storage
Can be scaled up or down
Edge computing – Processing data on devices like smart phone
Collecting and processing of data is done at the source
Unnecessary data is eliminated at the source – like security cameras reporting only on anomalies
Cloud and Edge Computing Used Practice
Consumer-facing apps – Netflex and Spotify
Salesforce marketing cloud
Cloud and Edge Computing Key Challenges
Reliance on a third party
Bandwidth on edge computing
Cloud and Edge Computing Preparation
Cost of infrastructure
Look for “quick wins”
Services offered by cloud provider
IT can turn to a more strategic role in technology
Need relevant expertise in security and data management
Need to assure you have a good internet provider to support the transition
Digitally Extended Realities
Using computer technology to fully immerse the uses in a simulated digital environment
Typically uses special headsets or glasses
Rooted in the real world
Images are overlaid on what the user sees
Brings virtual and real world together
Can interact with objects being overlaid onto the real environment
Digitally Extended Realities Used in Practice
Used in gaming and entertainment
Boosting brand engagement
Letting customers try before they buy
Enhance customer service
Making workplace learning more effective
Improving other organizational processes
Recruitment through a virtual tour of company
Digitally Extended Realities Key Challenges
Assessibility and availability
Potential mental and physical impact
Digitally Extended Realities Preparation
How Is XR used in your industry?
How might XR be used in marketing and branding?
Internal business processes?
Necessary technical skills in-house
Digital content needed?
A digital copy of an actual physical product, process, or ecosystem that can be used to run virtual simulations
Used by NASA to recover astronauts safely back to earth
Let’s us see what happens if adjustments are made to a process
Drives efficiency and growth within existing operations
Monitor impact on the environment of processes
Relies on data processing taking place in the cloud and at the edge
Gartner survey of businesses shows that 62% of respondents are in the process of establishing digital twin technology
Digital Twins Used in Practice
NASA continues to use digital twins
Used in Formula One racing to assess car performance and pit stop simulations
In healthcare – building digital twins of people using data from digital watches and other sensors
Smart city to help with traffic, geographic ecosystems, predicting natural disasters
Digital Twins Key Challenges
Depends on three factors
Quality of data
Task it is used for
Digital Twins Preparation
Data is current and accurate
Scalable solutions as applications grow
Digital security strategy
Mist serve a clear business need
“Quick win” applications first
Natural Language Processing
Technology that allows computers to understand human language
Uses algorithms extract rules form unstructured language data and convert the data into a format that machines understand
Alexa, Siri, Google assistant
The technology is advancing at an incredible rate
Natural Language Processing Used in Practice
Best know applications are Alexa, Siri, Google assistant
Email spam filters
Marketing tools for social media
Creditworthiness of customers
Answering banking questions for customers
Analyzing job applicants
Analyzing risk in non-disclosure agreements
Natural Language Processing Used in Practice (cont.)
Bloomberg’s Cybprg tool changes financial reports into articles
Helps reporters with first drafts
Robot reporting tool
Analyze risk of heart failure
Create clinical guidelines
Transcribes clinician’s speech
Natural Language Processing Key Challenges
Does a natural language processing tool need to be developed for each language?
Issues with extracting large amounts of text or speech
Issues with graphics, tables, and notation
Issues with deriving context from language
Natural Language Processing Preparation
Hugh investment needed for the technology
What is the strategy or implementing the technology?
Adapting and learning is necessary
Voice Interfaces and Chatbots
Communication with computers through commands or written text
Alexa and Siri
Woebot chatbot therapist that interprets data on mental health
Voice Interfaces and Chatbots Used in Practice
Book flights and hotels
Gather employee feedback
Responding to medical questions
Digital fitness coach
No warm and cozy feeling for customers
Voice Interfaces and Chatbots Preparation
Many tools are available as-a-service
Identify goals and audience
Check out how competitors are using the technology
Match with communication style of organization
Choose a platform and provider
Don’t be afraid to experiment
Adapt and learn as you go
How will success be measured? (ROI and desired results)