Block-chain is the new cryptography technique that is going to revolutionize how value is exchanged. It uses a distributed ledger system that ensures complete data reliability and is inherently tamper proof. Till now the internet has been used very effectively to share information, to some extent almost replacing formal institutions like universities as the primary source of knowledge for the public . However value, money etc. has traditionally been transferred using a mediating authority like a bank or government. Bitcoin is changing that, and the underlying technology known a Block-chain is having a profound impact on how value is handled. Crypto currency, is the most obvious use of Block-chain technology but Block-chain itself is proving to be useful for all sorts of jobs that require a secure permanent ledger.
This is how it works. Every computer that is a part of the network has an encrypted copy of the ledger called a block. Any change to the ledger, gets approved encrypted and recorded into every single block that’s part of the network, forming a block chain. This way even if a few computers on the network get tampered, destroyed or hacked the ledger still remains reliable. The bigger the network is, the more secure it gets. Banks, Law firms and Hospitals are some of the first adopters. These institutions require a very reliable method of keeping records and Block-chain is the perfect solution.
The main advantage of the Block-chain is the lack of a central server, however some very complicated calculations have to be carried out when changes are being made to the ledger and this requires large amounts of processing power which in turn requires energy in the form of electricity. Currently for Bitcoin, users can lend their computer’s processing power to the network in exchange for a small amount of bitcoin, these are called Miners. In recent years mining has been taken to another level with hundreds of acres of processing farms being operated by individuals, large corporations and governments. This may be the main limiting factor to the wide adoption of Block-chain, but with recent advances in graphics card technology, it has become a more realistic proposition.
One thing is for certain, in the very near future, you will be using Block-chain technology as an integral part of your everyday life without even realizing it.
-Triman S Bhullar
Self Check-out is a relatively new concept spearheaded by companies like Amazon GO. Despite the delays the company has faced, there is no denying that this is the future of retail.
The concept is simple, you walk into a store with your mobile phone that has an app installed and running, as you pick up items from the store shelves, they automatically get added to the app, you can then simply walk out carrying your items and you will automatically be charged using your preferred mode of payment. There are no checkout lines, no cashier, and no clumsy change to deal with.
This technology has already been adopted widely to some extent by services such as Airlines, Movie Theaters and Hotels who are using the resulting speed and convenience to streamline and improve the customer experience.
-Triman S Bhullar
Enterprise mobility is an incipient area of business technology. It’s not always easily perceived why you should take it into account, even when the benefits are clear and quantifiable.
Enterprise mobility is now becoming extremely popular and bringing up a change in the way businesses conduct their work, manage employees and manage accounts and customer care resulting in increased selling, increased win rates, reduced sales cycle and decreased administrative times.
A wide array of features can be incorporated into an app for your company to help you achieve your goals. These can include:
– Internal communications within an organization. Allow employees to communicate easily and keep everyone informed and ready resulting in reduced response times. Chat/Messenger can be easily integrated into the services to send/receive short messages directly to a person as well as group messaging and broadcast functionality. Voice over IP services can be integrated with private and public chat rooms and also include Video Conferencing.
– Easy access to bulky data. Any serious business will have to deal with a large amount of data on a daily basis. An automatically managed database can make processing and accessing the required data exponentially faster and easier. A good example of this is a Customer Management Database that can greatly speed up processing orders and managing grievances. Another example is of AI systems that can now read thousands of documents, make sense of it all and provide the user with exactly what they are looking for in a matter of seconds.
– Complete Monitoring of your business. Through your app, you can easily monitor all aspects of your business, view all the reports, have access to all internal and external communication and manage employees while on the go. Appraisal reports can be sent directly to the employee and progress can be monitored. Bonuses and incentives can also be easily managed.
These examples are only touching the surface of what is possible. Embracing Enterprise Mobility Management is the way forward for any business serious about maximizing their potential.
-Triman S Bhullar