Debunqed

Category: Problem Solving

  • 3D Copy and Print

    3D Copy and Print

    The bizarre-sounding copying phenomena called 3D-printing have been mulling around from the past.  Recently, it has been in the limelight; specifically in the press for the wrong reasons.

    In 2013, a University of Texas law student, Cody Wilson created a blueprint for a single-shot 3D-printed handgun, named ‘The Liberator’.


    However, guns have posed a serious threat to peaceful living when in the wrong hands. But what if you could hastily manufacture them unsupervised,  from the comfort of your home?


    His company Defense Distributed, had been distributing downloadable weapons plans for free. This would be great if it was planned to enable you to build something more useful to society.


    The point is, with this new device, you can literally make a 3D copy of any imaginable object – even your food!


    3D printing builds parts (mostly out of plastic) based on the central concept: using a digital model like your CAD drawing (Computer Assisted Drawing).


    This is then turned into a physical three-dimensional object by adding material a layer at a time. This is where the formal name for 3D printing, Additive Manufacturing arises. They are no bigger than a normal Deskjet or heavy-duty paper printer and are quite a marvel to watch in action.

    3D printing is a fundamentally different way of producing parts compared to traditional subtractive (CNC machining) or formative manufacturing technologies.

    The brands

    Some top 3D printing brands include MakerBot, XYZprinting, Formlabs, and LulzBot. You can pick them up from as little as $200 to $4000.

    These prices naturally depend on your end product size, material, complexity, and level of detail you need.

    The most expensive one, if you are into heavy-duty manufacturing would set you back a cool $2,500,000. That is the price tag for Imprimere’s Model 2156.

    Some of the advantages of using 3D printers include:

    • Speed: You can upload complex designs from a CAD model and print in a matter of hours.
    • You have more design freedom. It gives you complete customization of designs.
    • It is more eco-friendly: Additive manufacturing methods use only the material you need to build a component. You can recycle and re-use the raw materials.
    • Costs: Compared to traditional manufacturing, the labour costs for a 3D printer are almost zero.
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    Image source: 3DHubs

    Application in the world

    Since its uptake in as far back as 2010, a lot of the products we use are manufactured using 3D printing.  You will find its application mostly in the medical and dental industry and used for custom prosthetics, implants, and dental aids.


    They are used to manufacture high-level sporting gear that is tailored to fit you perfectly. Naturally, you can also ‘print’ your own customized fashion accessories. This would give you more flexibility when it comes to your specific style, colour, and material.

    For a more comprehensive comparison of 3D Printers available to you, look at the 3D Printing index on the resources page.

    Here is a list of cool things you can create with a 3D printer. If you are looking for great ideas for Xmas or birthdays – this might just be it!

  • Digital Fundraising

    Digital Fundraising

    The latest abbreviation in the finance and crypto-world is ‘ICO’. This word, however, gives global financial authorities like the U.S. Securities and Exchange Commission (SEC) nightmares for several reasons.

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    Not to be confused with Initial Public Offering (IPO) which is used by firms to raise cash through the issuing of shares to the public. An ICO (Initial Coin Offering) works like crowdfunding, but for digital currency and tokens.


    We recently covered a feature on raising funds and capital for a business but missed out on one relatively new method. Many companies are using ICOs to raise capital for their businesses.

    Why ICOs?


    The concept of an ICO works similarly to how a company raises capital through shares in that it is all based on contrived value.


    Funding raising in effect boils down to sales! If your actual product or service has nothing substantial or intrinsic to offer a client base, then it is nothing more than a scam.


    Launching an ICO is quite easy, and to an extent, many tech companies are now catching onto it.

    An ICO is the cryptocurrency space’s rough equivalent to an IPO in the investment world. ICOs act as fundraisers of sorts; a company looking to create a new coin, app, or service launches an ICO.

    Investopedia

    If you still do not believe it is possible, just listen to this testament from someone who did it after unsuccessfully knocking on the doors of conventional funders.


    The alarming spurt rate of ICOs often brings with it a scourge of potential scammers. The SEC and other institutions have to step in to monitor and regulate them.

    Social media platforms like Facebook and Google – which house a bounty of users (potential investors) have banned ICOs ads due to possible prey on unsuspecting investors; exposing them to con artists.

    Basically, the scammers use fancy websites, laden with impressive figures and terminology to con users into buying into their coins or tokens.

    Though the tokens barely even cost a cent, it adds up if they have millions of people buying in.  Once they have reached a certain amount in funding – they close shop and disappear!

    To create a new digital coin:

    Create a product concept or Business Plan for the coin or what is called a Whitepaper. This describes in great detail what the coin or token aims to do; the core technologies behind it; the team and their qualifications; the product’s lifecycle/growth path etc.

    Once completed and water-tight, the whitepaper would be submitted along with an application to one of the best Cryptocurrency Exchanges for review.

    Naturally, you would need some initial working capital for liquidity. Some of this is raised through your savings and others through institutions (via loans etc).

    You must then assure your investors of a solid return on investment (ROI) and deliver – which goes back to sales. Unless your offering is a scam, you actually need to do some work!

    This assurance comes via regular updates (marketing campaigns can have a tremendous or adverse impact on the uptake and price) on milestones reached.

    The updates are also necessary to keep your investors abreast with progress and might convince them to increase funding.

    Growing interest and the addition of more funds create demand for the coin/ token which, in turn, drives up the price and market capitalization.

    Most successful ICOs of all time

    NEO:

    Known as “China’s Ethereum”, and backed by Microsoft, Alibaba and the Chinese government, NEO uses smart contract applications. It does so, however, with the addition of decentralized commerce, digitized assets and identification.
    It enjoyed a considerable hike in token value from $0.03 to $88.20, NEO has big things coming with a 294,000% ROI.

    Ethereum:

    Unlike Bitcoin, the second-most valuable cryptocurrency in the world has more functionality than just being a coin. Its ledger technology is used to build and deploy decentralized applications a.k.a. “smart contract” technology.
    Ethereum’s ROI has been nothing short of jaw-dropping at 230,000%. Having sold its tokens at $0.31, an Ether token now sits at a whopping $713, second in value only to Bitcoin.

    Spectrecoin:

    The “premier privacy-focused cryptocurrency” enables users to send and receive currency worldwide with total anonymity. It is currencies like SpectreCoin that have most government tax offices quaking in their boots.
    If you had repurchased a token in November 2016, that puny $0.001 would be worth $0.64 today, or an ROI of 64,000%.

    Ark:

    With Ark, collaboration is the name of the game. The platform’s SmartBridge is a lightning-fast ecosystem designed to integrate other cryptocurrencies into its blockchain.
    Investors were eager as any to buy in, and they have made a 35,400% gain given today’s token price of $3.54.

    DigixDAO:

    DGD, which stands for Digix Decentralized Autonomous Organization, is a self-governing community. It gives out grants to different projects which will promote the growth of the DGX network.
    At a current value of $346.88 per token, this gives them a return of 10,722%.

    Quantum (QTUM):

    QTUM is an open-source value transfer platform which focuses on mobile decentralized apps or Dapps. QTUM is the world’s first proof-of-stake smart contracts platform.
    They hosted a highly successful ICO in March 2017, and since that time has seen an ROI of 6,400%.

    Source: investinblockchain.com

    In conclusion

    The prospect can be daunting for a cryptocurrency investor looking to make money off new investment opportunities while remaining cushioned from fraudulent ICOs and dodgy coins and tokens.


    As there is no guarantee that any cryptocurrency or blockchain-related start-up will be genuine or successful.

    You simply need to be vigilant and take steps such as getting to know the core team, poring over the whitepaper with a big magnifying glass. Naturally, you should be monitoring the progress of the token sales.


    Most importantly, you must just use common sense to gauge just how feasible the project is to ensure that you’re not falling for a scam.

    Remember, if it’s too good to be true, then it isn’t true!

  • Can’t Get No Satisfaction

    Can’t Get No Satisfaction

    In economic terminology, the term “utility” has not much to do with multifunctionality nor completing specific useful tasks.

    It does in context, relate to the level of satisfaction or “completeness” one derives from the consumption of a product or service. For example, there is only so much pizza you can eat before feeling ill from satiety.


    On a broader and more macroeconomics spectrum, our utility levels will also help determine how resources are allocated and consumed.

    Definition

    The concept, a brainchild of Daniel Bernoulli, has so many relevant connotations. As humans, we individually have a maximum biological boundary which when reached, signals absolute satisfaction. This in economic terms is called maximum (total) utility.

    Total utility is the complete satisfaction that you can get from consuming all units of a specific item.


    Economists are more interested in the changes in levels of utility or what is referred to as the marginal utility.

    We will return to its application to the economy.

    Applying utility

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    Incidentally, the utility has no formal unit of measurement – though we coined the term “utils”. These so-called utils equate a number to utility levels in a controlled sample experiment.


    Understandably it can be quite a feat to quantify utility as it is based on human behavioural preferences. The closest we got to quantifying such was via the marketing concept of the consumer black box.


    As an illustration, the concept can be applied to something as basic as eating a delicious meal.


    Depending on how hungry you were, you would derive the highest utility from the first few bites of your meal.


    As you progressed and depending on your appetite, each additional fork/ spoon, or handful would provide fewer levels of satisfaction. As you reach your stomach’s capacity (towards satiety) your utility diminishes.

    This can be applied to the taste of the meal. It specifically explains why we tend to eat something sweet after a main (savoury) meal.

    The appreciation of ice cream when you are starving would diminish quickly as you concentrate on filling up your stomach. This as opposed to enjoying the taste.

    When compared to the running of an economy, governments and policymakers can determine which goods and services yield the most utility.


    This helps them to consequently direct expenditure to identified priority areas (products/services).

    It is a long term concept

    Education, for instance, may not provide immediate utility (gratification) for scholars and pupils. However, when appropriately harnessed, could yield higher levels of satisfaction. This is when you enter the job market with better remuneration packages.


    Tweaking education curricula, taking into consideration levels of utility to whip up your interest for the good or service. This should, therefore, be a prime focus for legislators.


    Inputs such as maximum times you can concentrate and the length of study for a course should be offered without compromising the substance.


    Without a doubt, there would be considerations, at a micro-level to assist in enhancing both marginal and total utility in the education sector.

    Read more about fiscal policy and budgets here

    More life-related uses

    The concept of utility is a lot less ubiquitous as we think and relates to the unsavoury phenomenon of megalomania and why there is greed.
    When levels of self-gratification diminish quickly, it takes longer for those with lower levels of marginal utility to reach a plateau of pleasure.


    Drug addiction, sexual appetites, and fetishes would then kick-in. In such cases, people upgrade the “product or service” that they have already maximized utility in. At that stage, another level of fulfillment would be sought.

    The utility applied to finances

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    It also explains why you lose a lot of money gambling or investing in stocks. The satisfaction of gaining more for a little outlay will often drive you to take more risk until a level of risk aversion kicks in.


    High-risk investors “called whales”  are now delving into the Crypto market to maximize their utility. They are diverting their funds from property and stocks into digital currencies like Bitcoin and Ethereum.


    The saying too much of a good thing is inevitably bad for you applies. It can be countered by diversifying the things that deliver pleasure or satisfaction to you.


    This is to ensure that you do not maximize utility on them too quickly and lose interest.  Worse case, you end up delving into the dangerous territories of addiction.


    Economists need to be relevant, more than ever before. They also need to formulate a means to measure and quantify utility or provide “utils” for at least, the most common goods and services.

    With such a strategy, policy-making, product pricing, and the efficient allocation of resources would be more effortless.

  • Criminal mindedness

    Criminal mindedness

    One fundamental and often ignored view within economics is that humans have the propensity to display irrational behaviour in the decision-making processes.

    Based on this notion, one can conclude that we have a fundamental tendency to act corruptly and be generally criminally-inclined except maybe the virtuous few.

    How advanced our economy or society is, depends on what measures or incentives we enforce to deter or punish criminals.
    In most cases, we find that in countries where punishment is severe (e.g. in Central Europe or Nigeria), the criminals end up moving to less strict countries.
    The economics of crime, especially violent crime experienced in countries like South Africa and Brazil, is something that requires adept research if anything is to be done.
    In the US, studies were conducted to access the impact of legalized abortion on the level of crime. This was discussed in detail in a best-selling book by Levitt and Dubner’s called Freakonomics.
    The study found that legalizing abortion (seen by many as legalized killing equivalent to death sentences) reduces the level of drug abuse and subsequently other criminal activity.

    The real problem

    Perhaps there is no relevance here but for instance, abortion is legal in South Africa yet a high crime rate prevails. So, what’s the problem then?
    Part of the problem lies in the fact that the incentives/benefits of committing crime far outweigh the “costs” and chances of being caught and convicted by the judiciary.
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    John Nash through his renowned works (well at least amongst economists), devised what he called “game theory” or “the prisoner’s dilemma”.
    Cheating occurs through degrees of severity from a classroom test or examination all the way to the plotting and execution of murder or indirectly killing individuals by selling users addictive drugs.
    Then you have your white-collar crime such as insider trading, corporate espionage (unlawfully acquiring recipes, formulas, and technologies from rival companies).
    Or simply ‘cooking the books’ or siphoning off profits from a company’s coffers.
    Nash’s rationale for such cheating behaviour boils down to the attitude of: ‘if I don’t, someone else will, and leave me with the short end of the stick – so given the option, I’ll always cheat’.
    His explanation is one ‘formally proven’ reason for human ‘irrational’ behaviour – or rather, could we say it is rational if the outcome is to favour the decision-maker in the short or long term? This is instinct is innate in human behaviour of not such a few.

    Crime and law enforcement

    Back to the subject of crime: higher than usual levels has often been blamed on the poverty caused by poor and exclusionary fiscal, social and monetary policies.
    There are of course more layers and underlying factors unique to the history of political climate and resource allocation.
    Further studies (such as that in the Freakonomics book) need to be carried out such as the potential effects of police presence in deterring crime in the diagram below:
    Police officers per 100,000 population by regions and sub-regions (medians)

    Crime deterrant

    Source: www.unodc.org

    Also, highly recommended if you are a law enforcer, economist, government official, or student, is a book entitled Economics of Crime by Erling Eide, Paul H Rubin & Joanna M Shepherd.
    This book covers the theory of public enforcement including probability and severity, fines and imprisonment, repeat offenders, incentives of enforcers, enforcement costs and enforcement errors.
    It might shed some light as to how criminally-inclined people can be dealt with once and for all. Because as we know – whatever government is doing to fight crime now is clearly not really working!

    “When crimes are left alone long enough to fester, a second economy is borne.”

    The proceeds from a ‘secondary’ economy because of criminal activity never benefit society. Even though people like Pablo Escobar were seen by locals (in his Colombian town) as philanthropists, their assistance came at a price. Such contributions which are naturally tax-free generally are referred to in economics as ‘social ills‘.
    A third market is formed – one comprised of the need to feel secure.

    Dealing with the scourge

    But fighting fire with fire (with more guns & police who are sometimes corrupt themselves) will not alone solve the problem.
    Criminals simply become more aggressive when met with a more confrontational approach as seen in South Africa. The Jeppestown (Johannesburg) shoot-out in 2006 for example, left several police officers and criminals dead.
    It’s time to get ’smarter’ about crime and look to the accuracy and conclusive study of human behaviour and the use of incentives.
    As crimes continue to ravage communities, cities and countries, we can question why government officials have relatives who own or have stakes in security companies.
    It basically places less of an ‘incentive’ for officials to do much about crime.
    So, conceivably, those with such vested interests in the third economy would need to be weeded out of the system for crime to be curbed.

    That would be the first major step in order to bring about some rationality to society.
  • Life hacks using tech

    Life hacks using tech

    We often do things out of routine without considering if there is an easier way to achieve the same result quicker and even more effectively. In a larger company or organization, this is the job of the business analyst.

    What if we applied this to other daily activities and tasks that shape the way we live?

    This would give us more time to partake in the things we love.
    It’s hard enough for most working-class adults to spend most of their days in the week behind a PC. This is usually followed by hours behind the wheel in traffic or commuting via public transportation.
    This makes the task of going shopping or even attending a doctor’s check-up after an 8-hour work stint more of a burden or chore. Worse over if you must queue further to get the service.


    This very example came to mind when a relative complained about having to go from one doctor to another. When referred to a specialist they had to then book another appointment by calling that specialist’s practice.


    Now granted, this is basically a ´first world problem’. Because having a specialist attend to a back problem after your doctor recommends it during an initial check-up is a luxury. One that third world citizens could only dream of having in the first place!

    Problem-solving scenario

    So, in the case of the referral to a specialist, a simple unified medical system can resolve this. A CRM database linking all the medical practitioners including their schedules can save you the time taken to arrange the new appointment.
    This system would also have a secure high-tech scanning and attachment add-on so that X-rays, scans, diagnoses and the attending doctor’s notes can be attached. All for the attention of the specialist.
    The times for the new appointment can be chosen quickly while the patient is at the doctor’s practice.  When convenient, you could then go to the specialist directly.

    The concept explained

    This is one very basic and rudimentary example of how an automated, centralized software solution can help schedule appointments.
    To achieve maximum optimization the system would clearly require several tests before implementation.

    Too often systems analysts and developers do not consider the end users. The user experience (UX) is the most crucial aspect of software development and should be the first step in building an automated system or it will never achieve its purpose.

    It doesn’t have to be used as a national health solution. This is because centrally planned systems, as mentioned in a previous blog, can lead to inefficiencies.
    It would need to be localized in order to make the system easier to maintain and be updated with contact details.  This especially when information can change on a weekly or monthly basis.


    Naturally, and for decades, health insurance companies have utilized card systems to document patient visits to practitioners. This also helps you and practice to easily claim back medical costs.


    But this only serves a singular function and is laborious to run. What is being proposed in this blog post is something to resolve this in a more secure and decentralized manner.

    Application and security

    Cloud security has become a huge requirement and will be a necessity for all businesses and services in the very near future. Europe, for instance, is implementing compliance laws for storage of data under its new GDPR regulation.


    Countries like Sweden also have similar compliance laws to handle financial (with a lot of banking going mobile) and medical data stored in the cloud.


    So, security would become less of a concern for businesses when it comes to data storage and automated CRM systems in the future.

    Shopping and housing convenience

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    The burden of shopping can also be alleviated with initiatives such as cashless processes. We first saw this introduced in Asia (China) and now adopted in the West through Amazon’s new cashless´ and cashier-less grocery stores.


    While shoplifters might not see the innovation in this ‘new method’ of shopping; it saves you time spent queueing to pay and will invariably help resolve the scourge of shoplifting.


    It will, however, require more reliance on technology for surveillance, to monitor and track the scanning of the goods and keep a database of records on a server.


    This helps you with the inventory management and other back-office processes and is managed by an automated ERP solution (and not a person).
    We are still waiting for massive roll-outs of the so-called smart houses equipped with smart chips that help regulate temperature, turn off energy-consuming devices when not in use.


    Some are even equipped with fridges that remind you when food is expiring or simply needs to be replaced.


    Designing such systems would naturally require careful observation into the various steps needed to reach the desired result. Details in every step from how you go from point A (selecting a product); to point Z.


    Point Z being you walking out of the shop with a fully paid item. All without using cash or the need for a cashier.

    Tweaking the solution

    The system analyst’s job would be to engage or even simulate the processes using different test subjects and not just the best practice.
    There is the possibility that you might forget to pay for the milk after checking out of a security area. That could result in an embarrassing scenario for all.


    These are just two examples of countless scenarios that can help us benefit from the use of automation and AI.
    There are many other subtle examples such as in the motor industry. This includes the use of computers to diagnose a ‘sick car’.


    There can be a solution for every bottlenecking problem. Addressing this is now has become a new field of study. Computerization and the use of robotics to handle manual labour and repetitive blue-collar jobs will be new highly lucrative career paths.

    Many new start-ups already exist purely to develop system automation.

    Welcome to the future!

     

  • Peer-to-peer service

    Peer-to-peer service

    History has taught us that a fully centrally controlled government system fails completely – well, in the long run.

    The idea of a communistic system has its merits and could still work in some sectors of our economies. It, however, omits the very thing that was provided to us as human beings – choice.


    Knowledge is empowering – but the power to do the things you would like to do effortlessly without fear of error.


    This shared knowledge emanates from scientific, biological, or financially proven theories and tests.


    They can help you make the right investments. Such as saving money on the best deals, obtaining rights to social benefits, travel to great destinations. Or simply just helping other people achieve their personal and spiritual goals.

    Monopolistic behaviour

    Those that cling onto knowledge though, serve their interests alone and should not be revered but rather shunned for power-hogging.


    Sadly, some governments monopolize access to information, basic services, resources, and even education to create an artificial demand for ´their services’.


    This forms the basis of a centrally controlled or outright communistic state.
    In business, this is a common practice of a monopoly to control the price of their good or service as they are the only ones providing it.


    The quality of that good or service, however, can and will be determined by them and them alone!


    Can you imagine then, based on the previous sentence, a situation that only governments have this power to dictate a basic service such as healthcare or education for you?


    Scary thought and if you look at most developing countries, the evidence of this is overwhelmingly sad.


    But we are not here to talk about the governments as there would be several cases to point out and this is not a political platform.
    Case in point, the concept of a centrally controlled system nevertheless is less efficient and prone to failure to disseminate the very items it sets out to provide.


    Deploying software by a global firm like IBM, via a centrally stored-located server would be absurd because the infrastructure of the recipient regions or end-users might not be well equipped to handle it.
    So one begs to question, why would you do it for social services for instance?

    Decentralized systems

    Decentralizing a system can improve efficiency because it gives options to get the best quality possible. It also removes power from one or a few providers and shares it equally amongst other stakeholders.


    This way all will stand to mutually benefit from a working system indirectly rather than just the state collecting monetary compensation or tax and deciding what to do with it alone.

    Centralized systems can learn from the blockchain to efficiently provide services.

    eMule


    Let’s take the now “illegal” peer-to-peer file-sharing and downloading software such as eDonkey/eMule (developed by Microsoft).
    Or take BitTorrent for example     you could with them, build together any file by downloading “bits” of the file by many connected servers or PCs  (peers).


    This system leads to faster downloads and allows one to source from the best quality of the available digital bits to get the data to form the e-book, music track, or movie that you were after.


    Leaving your download running would enable others to get the files you have already amassed (you reciprocally upload the files). The cycle continues until everyone acquires the same great quality file from the best ‘seeds’.


    Downloading from a sole server for the same product, on the contrary, could crash the server.


    Let’s not forget the delays due to operational differences in time-zones, or complete failure to download if the file source is corrupted or the file quality is bad.

    Application of decentralized systems

    Naturally, the entertainment industry put a stop to this because it meant that people could attain their copyrighted material.

    Many fines and warnings were dished out to individuals as well as companies hosting the sharing servers.


    You can, however, still access them via carefully planned entry gateways to hide your IP address using VPNs. Those of you who are IT experts can use (old-school) backend protocols like FTP.

    BitTorrent -> Bitcoin…Torrent -> Tor ..anyone seeing a pattern here?

    There is now even a new digital currency designed to help artists curb piracy and reward the artists for their work.
    Such protective software is already in the pipeline thanks to blockchain technology.


    Decentralizing services such as money transfers in the advent of Cryptomania removes power from regulated financial institutions. They tend to charge high fees for sometimes slow and error-prone services because they can.

    Conclusion

    So, swiftness and security are a prime reason for the adoption the Blockchain technology. Everything else such as the price of digital alternative coins or ‘altcoins’ boils down to basic supply and demand for it.

    Governments and other institutional service providers can take a leaf out of the blockchain technology tree and its true intention.

    The aim is to decentralize the provision of a service to give everyone access to it. This will reduce associated costs of using it and improve efficiency!
  • The Big ‘Crypture’

    The Big ‘Crypture’

    I’m not quite sure if anyone has given some careful thought – in the heat of this ‘Crypto mania’. More specifically, have you ever considered the ramifications of the blockchain and its impact on the global economy?

    This is an attempt to perform a calculated prophecy, based on the conversations we’ve had with like-minded visionaries.


    An introspection into this ‘much-talked-about technology’ has led to endless possibilities.

    Presently, every Tom, Anastasia, and Patel are pursuing short-term gains. You are all probably investigating ways in which they too can “cash in” by investing in new digital currencies.

    This frenzy is mainly driven by how some of the altcoins are performing in value. Some digital coins are rising as much as 1000% in a ‘Crypto bull-run’. But the real appeal for digital “currencies” comes from the security, speed, and cost of transactions they facilitate.

    A case for Cryptos

    Most of you are understandably looking at it solely from an investment point of view – after all,  greed never sleeps.

    Also, let’s not forget the anonymity it affords one – great for criminals and money launderers. Because of the increased risk, monetary authorities and regulatory bodies will make a case for tighter controls.

    They may even push for the outright banning of this new currency altogether.


    Retail banks, are currently entrusted with the movement of your funds (electronic transfers) and are governed by economic monetary policy. This happens under the watchful eye of big brother – the Reserve Bank.

    These commercial banks are the “primary targets” so to say of the blockchain. They were, therefore, the first to react by investing or attempting to start up their own blockchains.


    Such projects, however, prove to be expensive and still risky ventures given that no-one knows the source and destination of the blockchain.

    Banks are nevertheless having to either make quick decisions about whether they get on board or partner with developers of Cryptos such as Ripple).

    We also look at other financial institutions such as credit lending facilities and money transfer institutions. They are also are naturally in partnerships with the banks. They, however, stand to get wiped out by the blockchain if you think about it.

    Really, who would want to cough up a 10% commission or a transfer fee for money sent abroad to your family? You could simply use something like IOTA which, by the way, is as a Crypto hovering around 3-5 USD (at time of publishing) per unit.

    It is capable of transacting very quickly and securely with no transaction fees!

    And how so you may ask? Those details are listed clearly on their respective websites.

    Peer review functionality

    It is the belief that the plan for Cryptos’ was to enable anyone to have access to a shared (decentralized) peer-to-peer type service that enables the secure transacting of literally – anything!

    You can look at the blockchain working in the same manner as BitTorrent or E-Mule (for those who remember that far back). In the way, that data, albeit mostly bootlegged music, videos, and software, was distributed and downloaded on the web.

    “Blockchain is essentially a quick peer-to-peer transaction of digital currency”

    The value of Cryptocurrencies is now driven by how well it works as a system. You must look more closely at the added value it can offer society from a functional, practical, convenient, and of course, cost-saving perspective.

    A real threat?

    So, what does that then mean for companies like Visa, Mastercard, or even a digital banking app like PayPal?

    You can also imagine the implications for investment banks and their traders. That is if markets such as the very volatile foreign exchange (Forex) are completely abandoned and substituted by Cryptos.


    There are now many an exchange for Cryptos in the appearing monthly.
    You will be able to switch or trade Bitcoin for Ethereum, Litecoin, IOTA, or Ripple.

    Handy if you need them quickly for a specific transaction, country, or product that accepts digital currency.

    More practical uses of Crypto

    The purpose of ‘Cryptos’ running on the blockchain is, therefore, to change the way we transact and pay for goods and services.


    The aim was to make it a ‘form of exchange’ but also to provide the resources for you to “mine” and own them.  This can be an alternative income generator alleviating the need for job creation. It can also be a substitute vocation for those you who were perhaps made redundant by automation and AI.

    So, once you mine the currency (provided you have the infrastructure and pay the overheads), you can use it to get the things you need or must pay for.
    Your electricity bill, for example, can then be processed and paid for directly from an IOTA-holding wallet.


    Speaking of electricity, we came across a very insightful article (referenced in the resource section) focusing on the impact of energy consumption that global rampant mining will cause the price of electricity and the environment.

    Coupled with the switch to electric cars this could surely force you to invest in better ways to generate electricity. That is if we are to maintain sensible levels of sustainability.

    Whether the price of electricity goes up or down will be determined by how quickly energy providers globally will be able to meet this surging demand.

    We can surely be in a position to observe the upcoming impact on electricity consumption from next year.

    More and more of the global population are beginning to mine altcoins for themselves.

    As we head into the festive season and bonuses are being paid out, be responsible for how you splash out. Do your research first – even if it means waiting a year to see how it all plays out.

  • Rise of the machines

    Rise of the machines

    As a young man born in and living in Pretoria South Africa, multi-billionaire Elon Musk – better known for pioneering the Tesla battery-operated motor concept – was shunned by the Industrial Development Corporation several times.

    His innovative ideas were denied financial backing so he moved to the USA for better support. The rest as we all know is history.


    The futuristic thinker, however, took a rather skeptical and worrisome handbrake-turn when it came to the topic of artificial intelligence (AI) and its benefits to society.


    When a man like that with so much insight into technology warns of its potentially harming effects, it warrants notice. Musk warned that its use could foster ‘the coming of third world war’. We have to for such reasons,  delve a little deeper into the topic.


    We have rapidly progressed from longer periods of stone, iron, industrial, to that of space, technological/information ages. The world is now apparently fused between the latter three.


    Despite skipping a few ‘crucial’ stages, we have now surged into the age of digital automation. This is while sadly still dealing with the ravages of poverty, disease, and irreversible damage to our environment.

    Automation & AI usage

    Automation is helping business through software like ERPs that take over traditional back-office finance and operations.


    In the IT industry, the Internet of things (IoT), cloud services, and general Software as a Service (SaaS) have simplified things for IT managers. You can now just monitor and attend to more pertinent issues and tasks (hopefully not just stream movies and play games on duty).


    While seated comfortably, you will be able to now perform tasks such as deploying new software, installing/removing updates on multiple machines/devices simultaneously. All with a push of a few buttons.

    Trading bots

    In the high-risk investment scene, automation has given traders more room for better research and analysis Thus relieving you from the known stresses and mundane tasks associated with trading.


    For many trading houses and brokers, AI has even completely taken over the mundane task of making and executing trades.

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    If you haven’t already, read this great book entitled: The Fear Index (thriller by Robert Harris). Though fiction, it illustrates the use of a machine learning tool using algorithms to help a hedge fund company generate billions for its investors.


    The use of AI is not without fault. It can also lead to costly system-generated errors like the trading error a few years at Goldman Sachs cost the firm $100 million and other cases.

    Other use cases

    It can still, on a ‘micro’ level, help free human capital (individuals) from PC-related issues. So things like having stress, headaches, backaches, and lack of time spent with family and friends can be a thing of the past.


    In the industrial and manufacturing sectors, the advent of AI creates even more of a fear and a concern. The number (staffing) of redundancies, may increase when it is introduced.


    This would require careful planning to ensure the blue-collars that are ‘replaced’, are compensated. More so, they would need to be incorporated into different areas of businesses.

    Limits of robotics

    Obviously, not every task need to be automated or performed by robots. We (as humans) are still required to check-up, inspect, and perform quality checks for instance.
    We can, as a result, deal with inter-personal jobs that require more empathy like in customer and social service.


    Human resources or getting into corporate social responsibility (CSI) projects that reach out to communities.

    Embracing it

    More importantly, policies by governments will need to focus ever so more on job-creation. Governments must now adopt innovative means of creating jobs or foster and supporting entrepreneurship. Projects like those of Mr. Tesla/Mr. PayPal/Mr. SpaceX has created thousands of new jobs.


    As for the use of AI in weaponry and military defense systems, the less said the better. When it comes to privacy and security concerns we can only hope that rogue politicians don’t get unregulated access to such technology. In such a case we would only be able to protest and hope not to feature in a real-life James Cameron sequel to Judgment Day.
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