Lifeboat Foundation: Safeguarding Humanity
Toggle light / dark theme

Blog

Category: business – Page 308

Georgina Prodhan, Reuters — Business Insiders
china robot
China will have more robots operating in its production plants by 2017 than any other country as it cranks up automation of its car and electronics factories, the International Federation of Robotics (IFR) said on Thursday.

Already the biggest market in the $9.5 billion (6 billion pound) global robot trade — or $29 billion including associated software, peripherals and systems engineering — China lags far behind its more industrialized peers in terms of robot density.

China has just 30 robots per 10,000 workers employed in manufacturing industries, compared with 437 in South Korea, 323 in Japan, 282 in Germany and 152 in the United States.

But a race by carmakers to build plants in China along with wage inflation that has eroded the competitiveness of Chinese labor will push the operational stock of industrial robots to more than double to 428,000 by 2017, the IFR estimates. Read more

— The Atlantic

Since its debut in 2012, Google Glass always faced a strong headwind. Even on celebrities it looked, well, dorky. The device itself, once released in the wild, was seen as half-baked, and developers lost interest. The press, already leery, was quick to dog pile, especially when Glass’s users quickly became Glass’s own worst enemy.

Many early adopters who got their hands on the device (and paid $1,500 for the privilege under the Google Explorer program) were underwhelmed. “I found that it was not very useful for very much, and it tended to disturb people around me that I have this thing,” said James Katz, Boston University’s director of emerging media studies, to MIT Technology Review.
Read more

Where will Bitcoin be a few years from now?
The recently concluded Bitcoin & the Blockchain Summit in San Francisco on January 27 came up as a vivid source of both anxiety and inspiration. As speakers tackled Bitcoin’s technological limits and possible drawbacks that can be caused by impending regulations, Bitcoin advocate Andreas Antonopoulos lifted up everyone’s hope by discussing how bitcoins will eventually survive and flourish. He managed to do so with no graphics or presentations to prove his claim, just his utmost confidence and conviction that it really will no matter what.

On the currency being weak

There have been statements about Bitcoin’s technology surviving, but not the currency itself. Antonopoulos, however, argues that Bitcoin’s technology, network, and currency are interdependent with each other, which means that one element won’t work without the other. He said: “A consensus network that bases its value on the currency does not work without the currency.”

On why Bitcoin works

Antonopoulos underscores the fact that Bitcoin works because it is a dumb, transaction-processing network. Calling Bitcoin dumb is far from disparaging Bitcoin’s image as he actually thinks of this dumbness as Bitcoin’s true source of strength. According to him, it is a dumb network that supports smart devices, pushing all of the intelligence to the edge. It’s an innovation without permission.

On being 2014’s worst investment

Antonopoulos also argues that those who believe bitcoins to be a bad investment only considers the price when there are other equally important factors to be looked upon such as continuous investments and technological innovations.

For instance, 500 startups were created in 2014, which generated $500 million worth of investments and produced thousands of jobs, some portion from Bitcoin gambling. This was also the year that two remarkably genuine technologies were created, the multi-sig and hierarchal deterministic (HD) wallets.

On waiting for Bitcoin to flourish in 2017

Antonopoulos then stated with unwavering certainty: “Give us two years. Now what happens when you throw 500 companies and 10,000 developers at the problem? Give (it) two years and you will see some pretty amazing things in bitcoin.”

On mining updates

Meanwhile, mining for bitcoins prove to be more challenging than before. A Bitcoin mining facility in China, for instance, generates 4,050 bitcoins every month, which is equivalent to around $1.5 million, but not without repercussions and complexities. The entrepreneurs in the mining facility realize that as the level of difficulty and computing power increase, the ratio also gradually changes.

Typically, the entire mining procedure utilizes about 1,250 kilowatt-hours of electricity, putting the factory’s electricity bill to about $80,000 every month. Nowadays, their miners produce 20–25 bitcoins a day, significantly lesser compared with their previously 100 mined bitcoins per day.

On leaving a thought

The confidence for Bitcoin’s bright future has been regained, thanks to Antonopoulos’ contagious exhilaration and resolute belief in its potential. However, we can only wonder what the increasing difficulties in mining for bitcoins entail to the cryptocurrency’s overall performance and future, though Bitcoin’s unique features have been proven to be strong and resilient enough to surpass any challenges.

By Michael S. Malone — MIT Technology Review

The view from Mike Steep’s office on Palo Alto’s Coyote Hill is one of the greatest in Silicon Valley.

Beyond the black and rosewood office furniture, the two large computer monitors, and three Indonesian artifacts to ward off evil spirits, Steep looks out onto a panorama stretching from Redwood City to Santa Clara. This is the historic Silicon Valley, the birthplace of Hewlett-Packard and Fairchild Semiconductor, Intel and Atari, Netscape and Google. This is the home of innovations that have shaped the modern world. So is Steep’s employer: Xerox’s Palo Alto Research Center, or PARC, where personal computing and key computer-­networking technologies were invented, and where he is senior vice president of global business operations.

And yet Mike Steep is disappointed at what he sees out the windows.
Read more

Ariel Schwartz — FastCo

No matter how many coding initiatives for women and diversity programs are launched, the inescapable fact remains: The tech industry is overloaded with men, especially in the top ranks. It’s an vicious cycle. The more men are hired for top jobs, the more they tend to hire men themselves.

Entrepreneurs Eileen Carey and Lauren Mosenthal believe the best path to gender equality is peer mentorship—that is, mentorship from people at your same skill and career level. So they created Glassbreakers, an online platform that matches women in tech (product managers, software engineers, data scientists, and so on) with peer mentors. It’s a little like online dating for mentors.

Read more

Vires in Bitcoin
Bitcoin as a cryptocurrency has had its moments of strength and weakness. The technology behind bitcoins, however, is a different story. While skeptics don’t expect a lot from Bitcoin as an alternative currency because of its volatility, they do have high hopes for the technological innovation that powers it, believing that it can be further developed to create something much powerful than Bitcoin itself.

To those who know Bitcoin as a great way of transacting online, but don’t completely understand its dynamics, it’s time to get acquainted with the cryptocurrency’s mathematical wonders that make anonymous, faster, and cheaper transactions of moving funds on the internet possible.

Most of us know that Bitcoin uses the SHA-256 hashing algorithm, but hashing serves a different function and purpose from that of digital signatures. Hashing actually provides proof that a message has not been changed because running the same hash always generates similar result.

Any message, regardless of the size can go into a hash function where the algorithm breaks it down, combines the parts, and “digests” it until it makes a fixed-length outcome called “digest”. However, a good hashing algorithm possesses some critical characteristics, in which the same message always produces the same result, as mentioned above, and it only works in one direction.

This means that even the smallest change creates a completely different digest. This is called the “avalanche effect”. Also, the chances of generating the same digest from a transformed message are a tad rare. This is called “collision resistance”.

Such nature of Bitcoin’s hash function makes it impossible to change records and transactions once they have been documented. As soon as the hashes are hashed together within the blockchain, counterfeiting records of transactions is no way near possible.

Then there’s the technology of wallet software. This is where people store bitcoins and use for making transactions. The wallet system is set in which users are prohibited from spending the same units twice (double-spending) by checking new transactions against the blockchain and against other new transactions to ensure the same units are not being cited more than once.

Though this system was established to avoid fraudulent activities and has proven to be an effective one, it also became an ideal scenario for hacking attacks on a Bitcoin exchange that aim to steal bitcoins. It’s because once bitcoins are lost, they’re gone for good and there’s no way of reclaiming them, especially that cryptocurrency usage is not covered by the central government and other intermediary parties like banks. Nonetheless, it’s not totally the Bitcoin’s fault; it’s the Bitcoin exchanges’ security measures.

The Economist

IN THE 50 years between the end of the American civil war in 1865 and the outbreak of the first world war in 1914, a group of entrepreneurs spearheaded America’s transformation from an agricultural into an industrial society, built gigantic business empires and amassed huge fortunes. In 1848 John J. Astor, a merchant trader, was America’s richest man with $20m (now $545m). By the time the United States entered the first world war, John D. Rockefeller had become its first billionaire.

In the 50 years since Data General introduced the first mini-computers in the late 1960s, a group of entrepreneurs have spearheaded the transformation of an industrial age into an information society, built gigantic business empires and acquired huge fortunes. When he died in 1992, Sam Walton, the founder of Walmart, was probably America’s richest man with $8 billion. Today Bill Gates occupies that position with $82.3 billion.

Read more

Quoted: “Looking at the misinformation, speculation, and confusion about bitcoin and blockchain technology: it’s the same conversation we had 20 years ago with the Internet. In the early 90s, the only way you could check your email was through a command line prompt. Then, web browsers were developed, small websites were created, and…well, as you can see, a lot has changed since. It’s looking as though bitcoin is just the first app to use blockchain technology, just like email was the first app to use the Internet.”

Read the article, and learn about the January 27, 2015, conference, here > http://radar.oreilly.com/2015/01/bitcoin-is-just-the-first-a…ology.html

lifeboat-min
From Innovation to Oblivion…

The ups and downs of Bitcoin as an internet currency may be compared to the eventual demise of Google Glass due to its lack of purpose among consumers. While it does not significantly hold true for bitcoins, which apparently have a more supportive and enthusiastic followers, the path that these two have taken and will take may be substantially similar than we like to admit.

For one, Bitcoin’s staggering price decline in the recent days left some people wondering what road it will eventually take in the near future. Is it only taking a detour or is it bound for a dead end?

In the case of Google Glass, it received much attention during its inception a few years ago. It was even named by Time magazine one of the best innovations of 2012. However, despite the ingenuity behind a supposed-to-be groundbreaking invention, Google Glass lacked a tangible sense, its purpose incoherent.

Thus, after much speculation, Google recently announced that it would stop selling Glass and that the product would no longer be developed in their research division.

Will Bitcoin End Up Like Google Glass?

Google Glass and Bitcoin are connected by the revolutionary technology that made them a star in the first place. There was some genius work in each of the piece, there’s no doubt about that, but without a clear purpose of how to integrate each product into the mainstream society, it becomes pointless.

Fortunately, bitcoins may stand a chance. Though there’s a portion of the populace that thinks of bitcoins as the internet currency that’s only best suited for illegal activities, its original function, which is for faster and cheaper way of transacting online, still proves to be prevalent.

It’s true that bitcoins were way more fun before that they are now, but it cannot be denied that this cryptocurrency has opened doors for a myriad of possibilities and eliminated security vulnerabilities, in which financial institutions such as banks and credit card companies are relatively known for.

Unlike Google Glass, Bitcoin has a tangible sense, a coherent purpose, and a crystal-clear vision. That is to move around the internet with your money free from the control of the government or any institution. Since there’s nothing that precedes this work of art and technology, it has a chance of staying. Thus, Bitcoin’s game is far from over.

Quoted: “IBM has unveiled its proof of concept for ADEPT, a system developed in partnership with Samsung that uses elements of bitcoin’s underlying design to build a distributed network of devices – a decentralized Internet of Things. The ADEPT concept, or Autonomous Decentralized Peer-to-Peer Telemetry, taps blockchains to provide the backbone of the system, utilizing a mix of proof-of-work and proof-of-stake to secure transactions.”

Read the article here > http://www.coindesk.com/ibm-reveals-proof-concept-blockchain…et-things/