Tag Archives: technology

Brexit and the Technology Industry

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Puzzle with the national flag of great Britain and European Union on a world map background.The recent decision by Britain to exit the European Union (Brexit) has people asking a lot of questions. Some analysts are pondering British technology regulations and the state of the technology industry post European Union. There are surprising implications that perhaps have not been considered but probably would not have made a difference in the vote.

Silicon Roundabout

An area in East London has been dubbed Silicon Roundabout for the concentration of high-tech firms, particularly start-ups. In a 2013 Guardian article, director of Twilio Europe James Parton cites reasons for locating a hub in London, “…London was a natural choice for our first office outside of the U.S. Language, accessibility to rest of Europe, a vibrant start-up ecosystem, the financial market, talent and flexible business conditions were all contributing factors.” Other areas of Britain have attracted high-tech heavyweights and start-ups alike.

With Brexit, some of those desirable qualities could disappear. Accessibility to the single EU market is in jeopardy, which could result in less than favorable trade arrangements and higher tariffs for companies operating in an independent Britain. A recent BBC article suggests that Berlin, for example, will actively court those tech start-ups and venture capitalists that have been pouring money into Britain. In making her pitch, Cordelia Yzer, Berlin Senator for Commerce and Technology, said, “They are welcome, their talent is more than welcome. It’s a great place to live and we also speak English. Berlin is a place where their dreams can come true.”

High Finance

Another potential issue for tech firms in Britain is access to capital. Start-ups in particular, but all tech firms in general, are capital-intensive operations mainly used for talent and equipment. A recent Reuters article reports that Standard and Poors and Fitch Rating recently dropped their credit rating for the country. This could make it harder or more expensive for companies to borrow capital for expansion or for a start-up. These companies could consider other EU centers such as Berlin or Paris, where funds are less expensive.

Data Privacy

The EU and the U.S. are working on the latest changes to their data privacy agreement. The EU has some of the toughest privacy laws in the world with Germany and France leading the charge in areas such as “the right to be forgotten,” which require companies such as Google to erase all internet history of an individual upon their request. Britain has pushed for less stringent regulations but it remains to be seen whether they will still abide by the EU-U.S. data privacy agreement. That brings up the question of whether data flowing through Britain will still adhere to those standards, or will it be less secure?

Thoughts

The exit is still being planned, though EU countries are pushing to get it done sooner rather than later. With the separation come questions for high-tech companies and consumers. These will be sorted out over time and I will be watching the developments with interest. Can you think of any tech benefits or drawbacks to a post-EU Britain? Let me know your thoughts.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Setting and Achieving Goals with Technology

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Photograph of vintage map and compass.Technology has been used to establish and realize goals since mariners relied on maps, compasses and sextants to reach their destination. I have read several books and articles over the years that claim setting goals is a surefire path to success. Actually, setting and achieving goals are both required to realize dreams. If this is the case, then can I use technology to help me with my goals? Can technology accomplish my goals for me, or do I still need to do some of the heavy lifting? For this blog I researched applications that help in the process, but I have come to realize they are not magic.

Technology Assistance

If good health is the goal, then fitness trackers are a great way to monitor your progress. I spoke with a clerk last week at a large hardware store who claimed she walked 120,000 steps in the last week. In her case, her kids got her a FitBit for Mother’s Day so they could marvel at the energy she expended while on the job. For her, it is more for information and entertainment than for achieving a specific goal, but I have met others who set daily and weekly goals and are religious about achieving those steps walked or calories burned. In that case, the technology behind the fitness tracker provides very real motivation to achieve goals.

Tracking Goals

The Android app GoalTracker allows you to list your goals with particular target values and time deadlines and then helps in breaking down those goals into manageable pieces. This app will alert you when you are or are not meeting your goals. It provides for a nice visual interface to let you know how close you are to achieving your goal or whether you are on track based on your desired timeframe and values. This is a great way to easily track your progress.

Habit Forming

Another Android app that is helpful is the Habit Bull. This application helps you to cultivate healthy habits or break bad habits through monitoring, suggestions, and reminders. The app provides an intuitive interface for establishing achievable goals in areas such as fitness, finance, relationships, or relaxation. It seems odd that we would need reminders to participate in a relaxing hobby or diversion, but such is our modern world.

Thoughts

For ancient mariners the first step toward achieving their goal was to launch their boat in the water and point it in what they thought was the right direction. The compass and map was their guide, but they had to take the first step. In the same vein, I haven’t yet found an app or technology that will achieve my goals for me but they can help me chart my course, track my progress and stay motivated to complete my journey.

Have you found technology that helps you to complete your goals, whether personal or at work? I invite you to share your experiences of what works and what does not work for you.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Weather or Not: The Technology Behind Weather Forecasting

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Photo of weather satellite orbiting Earth.A recent paper published in Nature shows a correlation between the surface temperatures of the Pacific Ocean and US east coast temperatures. The hypothesis is that sea surface temperature anomalies called the Pacific Extreme Pattern can predict east coast temperatures and rainfall up to 50 days in advance. In order to make meaningful and current predictions, this means that the data needs to be collected real time, which requires devices that can measure and transmit. This is a great example of Internet of Things thinking to be able to gather and utilize data without sampling by humans, especially in the middle of the ocean. I wondered about other weather activities that were being assisted by technology, so I did some research.

Radar

Radar has been used for many years to predict weather. Radar works by sending out radio waves that bounce off of dust, precipitation, or ice particles in the atmosphere. By measuring and comparing the strength of the signal going out and the return signal, forecasters can see the location and intensity of an oncoming storm. Simple radar, however, leaves meteorologists blind to the actual shape of an object being measured so they cannot differentiate between a raindrop and a hailstone. Dual polarization technology helps give that raindrop shape so that forecasters can better predict what is coming and what the precipitation rate will be. Another technology being tested is phased array radar. Traditional Doppler radar systems scan the skies in slices until they have scanned the entire atmosphere. This takes four to six minutes. A phased array system sends out multiple signals simultaneously and can scan the atmosphere in under a minute. This could make a big difference when providing storm warnings.

Of course, all of this probing and sampling generates large amounts of data so the meteorologist also needs to rely on his friendly information professional to sort it and create visualizations that convey the information.

Satellites

Forecasters also rely on satellites to monitor weather patterns around the globe. This provides a wider view of the weather and can predict movement with greater accuracy. A new satellite, called a Geostationary Operational Environmental Satellite R Series or GOES-R is set to launch this year on October 13. According to officials at the National Oceanic and Atmospheric Administration (NOAA), “The weather imaging capabilities of GOES-R are like going from a black and white television to HDTV.” This will expand our ability to monitor and predict weather.

Computer Modeling

Computer models are a mathematical way of predicting the future based on what has happened in the past. In terms of weather, a model can forecast actual conditions based on patterns that have already occurred. The more historical data is available, the better the potential forecast. Your friendly television meteorologist uses a combination of computer models and current weather patterns to predict tomorrow’s weather. As noted above, these models require an information professional to sort the data and eliminate anomalies that would give false predictions. Because of the large amount of past data available, some of this modeling is done on supercomputers that can process the information quickly and efficiently.

Thoughts

There are a lot of exciting developments in meteorological science and we are getting better at accurately predicting the weather and providing more lead time in front of damaging storms such as tornadoes and hurricanes. With this work we should be able to predict with better accuracy whether to leave the house with an umbrella or get to the nearest storm shelter.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Accessibility Through Technology

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Photo of assistive device on a computer keyboard.In previous blog posts I talked about ways technology assists different people. Lately I have been thinking about how technology enhances accessibility. A number of breakthroughs in the last few years allow alter-abled people to participate in activities many of us take for granted. I will highlight just a few products and I hope that you will share others that you are familiar with.

Lights, Camera, Action

Sony introduced Entertainment Access Glasses in the fall of 2012. Regal Cinemas placed them in theaters nationwide in 2013. This is a wireless device that connects to the digital server and projector. The glasses aid hearing impaired patrons by projecting closed captioning using holographic technology and aid the vision impaired with an audio assist function.

The Access Glasses look like normal glasses, although larger, but they broadcast closed captioning in the wearer’s field of vision. The wearer gets private assistance without disturbing other theatergoers. I know people who use this device and it really does help them to take part in social gatherings such as a night at the movies. This also sets the theater chain apart and allows them to attract additional customers for a small investment.

Classroom Accessibility Technology

There are several products that help low vision students in the classroom, but Dolphin SuperNova integrates a number of technologies into one package. It can be a screen reader with audible voice; it can magnify a screen; and it can connect to an interactive whiteboard in the classroom linked to a student’s laptop, allowing them to magnify text or employ the screen reader to deliver the information audibly. This is a great way to assist low vision students. Of course, as an instructor I need to be diligent in designing lessons and material that can be interpreted by screen readers and magnifiers such as SuperNova.

Low Tech Assistive Solutions

There are some decidedly low tech aids for young people with sensory processing issues or autism or attention deficit disorder. It is difficult to sit still in a classroom when learning is interrupted by the need to move. Therapy Seat Cushion is an inflatable cushion with soft rubber spikes on one side so children can sit in one place but still get the sensory stimulation they need. It allows the child to focus on their learning and not on their need for movement. It can also be overinflated to create an uneven surface for balancing. Similarly, the FootFidget is designed to allow a child to move their feet quietly. I know several adults who could benefit from these products so I am not certain they are just for kids. These are great solutions that fill an often overlooked need.

Thoughts

These are just a few products that allow people with different abilities to thrive in and enjoy their world. I would love to extend this topic to future posts so let me know what accessibility products you are excited about.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Why You Need to be a 5 Tool Player to be Successful

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MultitaskingThe following guest blog is provided by alumni Thomas Failor, who is speaking from the perspective of an IT practitioner. AIM graduates practice in a wide variety of disciplines, both technical and non-technical.

You might think that when you graduate with your AIM degree, you’ll be working in a purely IT role, either in engineering, IT development or service delivery, or otherwise focused on a single thread type of task. You also might think that you’ll only work in a technical role or never have to talk to pesky customers again. But that’s not always the case.

With the professional baseball season just underway, I am reminded of an analogy between sports and business that I’ve found valuable. Most companies, even very large ones, expect a knowledge worker with an advanced degree to be what in baseball is referred to as a “5 Tool Player.” In the big leagues, a 5 Tool Player can hit for average, hit for power, run the bases, throw for distance, and field the ball. The broad technology field is no different. Here’s my take on the 5 Tools you need to thrive on the technical side of business.

To be a 5 Tool Player in IT or elsewhere, you must be able to listen with intent, advocate for your customer, consult, collaborate, and communicate, both internally and externally, to be effective.

Listen with Intent

This is pure Steven Covey and 7 Habits of Highly Effective People. Don’t listen with the intent only to reply. Stop trying to think up your next reply while your associate is still speaking. It’s a challenge, but it’s so much more effective to listen with the intent to understand than just to come up with an answer quickly. Try counting to five before you answer, and preface your response with a validation of the other party’s statement, like “You bring up a good point” or, “That’s a great question.”

Advocate for the Customer

Some people refer to this as the “Voice of the Customer” or VOC in Six Sigma. After you listen with intent, you need to express the VOC or advocate for your customer to get your project done, solution approved, capital expenditures funded, or what have you. Promoting understanding and empathy by advocating for the customer makes you much more effective, (especially in the eyes of the customer), but also demonstrates to the teams you collaborate with your understanding of requirements when it comes time to dig deep into a project. If you fail to listen, you really can’t advocate and you waste business cycles trying to get things like requirements approved and your project moving forward.

Consult

Flex your technical muscles, and provide advice and solutions sets. This is usually the part of our work that we love the most but get to do the least. The truth is that the other 5 Tools get you to your consultation role more effectively. Consulting isn’t all about what you know. Often it’s about providing a range of solutions as a set of choices to your customer. In general, I’ve found that customers hate to be “sold” but they love to “choose.” (Credit: Jeffrey Gitomer)

In offering multiple consultative choices, you increase the likelihood that your customer will choose one of them and thus move your project/process/program forward without delay.

Collaborate

Play nicely with others. One of the pitfalls encountered by some brilliant technical people is that they’ve spent much of their career “heads down” perfecting their craft. Surely that’s important, but if you aren’t able to work with diverse groups with widely ranging technical skills, you only make more work for yourself. Project managers and program managers who may not have a technical background likely depend on you to translate and communicate with your friends on the development/engineering team and drive issues to resolution. I do this type of work every day. If you are able to gather stakeholders, project managers, and solution providers in a room and act as a collaboration facilitator, your work gets done more quickly and you’ve made allies for next time.

Communicate

This is the Achilles heel of many technical practitioners. If we can’t convey our analyses in writing, pitch an idea to an audience without reading 20 slides of PowerPoint word-for-word, or expectations with a customer, you’ll likely be less effective. Don’t depend on your manager or the department extrovert to communicate for you. Speaking and writing effectively are learned skills. Being able to communicate an idea clearly gets your budget approved, a new headcount, more servers, etc.

I have to use the 5 Tools every day to be effective in my work as the liaison between IT and the many needs of the business. It’s all very good to be a highly technical player, and if you work specifically within software development, networking, or security you may be able to get by without work days like mine, but it’s not very likely. Businesses depend on technology leaders to deliver technology solutions, but they also depend on you to be a 5 Tool Player.

 

Thomas Failor photograph.Guest blogger Thomas Failor (’14) is a senior program manager with T-Mobile in the In-Store Technology and Front Line Systems group, part of the Sales Operations Center of Excellence.

March Madness Apps 2016: Technology to the Rescue

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Basketball bursts through cell phone.As I write this blog entry, the NCAA basketball tournament is just getting underway. My Ducks are a number one seed as the men’s Pac-12 champions so I will be watching their progress closely. This is the time of year that information technology departments send out their obligatory “don’t stream basketball games over the company internet” message. So, what is a die-hard bracket watching basketball fan to do—take a two week vacation from work? Is there another way to keep up on the drama and still be a productive worker?

NCAA March Madness Live

I was at a technical conference last week during the final games of the Pac-12 championship. People were streaming or monitoring the score of the game on tablets and smartphones. I learned that NCAA March Madness Live is a free app that allows users to live-stream games. The added tournament bracket also provides the schedule, scores, and stats, reporting the action via video highlights and photos.

ESPN Tournament Challenge

For bracket-building, this app shows the entire live bracket and lets you make your own picks, which you can then share with your friends. This app provides alerts to keep you updated on the status of your bracket. This is an easy way to build and monitor the office pool.

Fanatic

If you are traveling during the tournament but you want to root for the home team, there is the Fanatic app. This is a free app available for Android or iPhone devices. It can connect you to fans of your team in the area, including information on nearby sports bars loyal to your team. It also lets you invite friends to watch the game with you, and can help you plan a party if you’d rather watch at home.

TuneIn Pro

While not just for March, this app allows you to find and listen to hundreds of radio stations so that you have your ear buds in and still appear to be working although you are listening to the big game. If you can multitask, this may be your best option for getting through March with your job intact. You can configure channels so that you can easily find relevant content for sports or other entertainment.

Television

You can watch games on television with apps available for Chromecast, Roku, Amazon Fire, and Apple TV. Of course, if you are not taking two weeks off to watch the tournament and you are heeding the advice of your friendly IT person about office streaming, you can always record games to watch AFTER work. Technology has given us a lot of options.

Thoughts

In a recent calculation by consulting firm Challenger, Gray, and Christmas, the lost productivity due to March Madness could equal $1.9 billion. I am not encouraging that number to go any higher but I have given you some options for tracking the progress of the NCAA tournaments without using all of the company bandwidth and your time.

Do you know of other apps that keep you connected and informed? Which team do you predict will win the final game on April 4? For me, it’s the Ducks all the way.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Artificial Intelligence Applications in Medicine

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Robot holds medical vial.I am currently enrolled in a MOOC on machine learning and am intrigued by the integral role computers played in decoding DNA sequencing and their ongoing role in medical research. Machine learning focuses on learning through repetition, pattern recognition, and algorithms as opposed to programmed instructions. The aim is for computers to learn from previous experiences and add that knowledge to a growing database, much as humans do. As that database grows, machines can take on even more complex tasks.

DNA decoding is just one application in the field of machine learning. I am curious about what other areas, particularly in medicine, will benefit from these algorithms. Can a computer, or group of computers, do cheaper and faster diagnostics? It turns out others are asking these same questions and exploring the benefits and applications of machine learning. What are the benefits for us as patients and how does it change the health care field?

Automated Sampling

As part of a drive to simplify procedures and cut costs, startups such as Theranos developed automated procedures for blood tests. Their procedures and equipment are proprietary but involve sensors and computer algorithms to augment or replace human processing. The cost of their tests is much lower than traditional tests and a patient can get quicker results. As of this writing, the company is under intense scrutiny to reveal their specific technologies and processes. Federal regulatory agencies, particularly those providing Medicaid, are trying to ensure the testing process is safe and the results are accurate. As with any new technology or process, the consumer must go in with eyes open and understand the risks involved. One question to ask is how much do I trust the results? If patients can stop by a drugstore for a blood test, how and when do physicians get involved? With ready access to testing, will patients become more involved in their own health care and treatment decisions?

Radiology

In a recent article on digital diagnoses, it is estimated that radiologists, at least in Australia, review seven times more cases than they did five years ago. As with a pathologist providing lab analysis, all of these reports rely on pattern recognition and they take a great deal of skill and experience to do well. As we make advances in machine learning and artificial intelligence, computers can take over some of that workload. If I were a radiologist, I think I would welcome the chance to offload some of my tasks. I am not suggesting that these highly trained medical professionals will be replaced, but there is room for assistance through technology.

Thoughts

I wrote a blog post last year on robots in the surgery and I asked if you would trust a surgeon-directed robot to operate on you. What if the human-robot team had a higher success rate than a human? These same questions apply to medical tests read and interpreted by a computer. Would you trust the diagnosis more or less than if it came solely from a highly trained doctor or technician?

To me it comes down to a matter of trust. Do I trust a machine to take on some of my tasks and perform some of the tests that were previously done solely by humans? With machine learning, computers improve through iterations and experience. In other words, they learn from their mistakes and successes, just like we do. This is a brave new world. Are you ready to embrace it? Let me know your thoughts.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Leadership in a Connected World

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Key figures in a connected crowd.In the AIM Program’s Information Systems and Management course, we talk about leadership and management. Are they the same thing? Can someone be a good leader but a terrible manager, or vice versa? These are good questions. I have been studying how leadership has changed in the last 100 years as we shifted from leaders who oversee one or more factories in a region to leaders who command large global enterprises. In the past, a manager could walk down to the factory floor and talk with each employee, but modern telecommunications have allowed us to create large businesses and to manage those businesses from a distance. What original principles of leadership remain the same and which have changed?

The Personal Touch

I have read autobiographies of Sam Walton of Wal-Mart, Harland Sanders, also known as Colonel Sanders, and Dave Packard of Hewlett-Packard. As they recount the early days of their businesses they all talk about knowing and interacting with the employees. Part of their leadership style was personal contact, which allowed adjustments to the business model based on employee feedback. According to the Wal-Mart website, the company now employs 2.2 million associates worldwide. How does a leader manage so many people in a geographically dispersed firm?

Networking

One of the answers is focused networking through the use of technology. Even though large organizations still use traditional organizational charts, it takes a long time for a complaint to make it through 10–12 layers of management to be heard and acted upon. This is the explicit organization as depicted on the chart. In reality, there is often a parallel, implicit organization that everyone knows about but which is seldom put into writing or a visual. There are touchstones in the organization who “know the right people” and can bypass the traditional structure to get things done. Author Malcolm Gladwell refers to these people as “connectors.” Employees quickly identify touchstones and rally their support in championing new ideas or settling a grievance. Think about how long it takes to disseminate information in your organization and how long it takes to make a low-level decision that for some reason requires multiple signatures. Could you employ this implicit structure for sharing information or collecting feedback quicker?

Leadership in The 21st Century

I believe it is important to recognize this alternate organization and utilize it for disseminating information. We can always do a one-to-many announcement but it is not always effective, nor is it well-received. Touchstones are likely to relay messages quicker. Marrying this network approach with social media channels allows us to still be effective leaders even though we are now steering an ocean liner instead of a bicycle. Such methods are not meant to subvert the traditional organizational structure but to provide a quicker and more effective means of communication through modern technology and networking. Those leaders recognize that it is not enough to have a large number of connections but they also need to be linked to the right people to institute change and move the organization forward.

Thoughts

Do you know the connectors in your organization? Are they in your network? Are you someone others turn to? It is important for leaders to make use of the implicit network just as we work the traditional structure. It is getting harder to effectively lead thousands, if not millions of employees and we need all the advantages we can get. Let me know your thoughts.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

Tech Matters in Emerging Economies

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Emerging nations often have the advantage in infrastructure deployments and upgrades because they have no legacy infrastructure to replace: they can just start from scratch. Legacy infrastructure can stifle innovation because of real and perceived barriers. In researching this subject, I questioned how much technology can help emerging countries that may struggle to house and feed their citizens and/or refugees from nearby countries. I would like to spotlight the work of Nethope, which aims to expand tech to lift nations from poverty and provide opportunities for growth through innovation.

How Much Tech?

In 1989 my wife and I toured Egypt and we traveled through a small village with basic concrete houses. We watched as the residents made their way to fields in the morning to harvest the crops. In the evening they returned to homes that had no electricity, modern lighting, or communications. They filtered water from the nearby Nile. This was their daily routine. I compared that with my role at the time as a computer administrator and realized the absurdity of my work in contrast to this simple everyday life. They had no use for the work that I did, which would not help move that cart to and from the field and would probably not increase their harvest or enhance their lives. My skills and knowledge were useless to them.

Should we concentrate on bringing technology to impoverished nations and villages? How would technology benefit people whose lives revolve around providing basic needs? Can it help in providing clean water, basic health care, communications and education? Which problems are we trying to solve through innovation? These are questions I no longer assume I know how to answer.

Nethope

Nethope is a non-profit organization dedicated to matching tech firms and individuals with non-governmental organizations to apply innovation to solve problems in emerging nations. Much of their focus is on wireless connectivity and building alternative energy sources to power the infrastructure. They have provided portable cellular hot spots for Syrian refugees to connect them with family members back home and with aid organizations. It also might enable young people to continue their studies, although sporadically, through online education programs.

A similar project established internet connectivity in a refugee camp in Kenya. Refugees flooded there to escape famine, drought, and conflict. This camp has become the fourth largest population center in Kenya and is a temporary home for thousands. As in the Syrian refugee crisis, it is hoped that the youth in particular will be able to continue their education through remote courses. In another area of Kenya, wi-fi hotspots were established with unused television whitespace. This might give villagers an opportunity to improve their lives through education and expanded business opportunities.

Coordination

One of the services provided by Nethope is technology coordination between many non-governmental aid organizations. Each organization tries to aid in various ways and sometimes they end up stepping over each other, particularly in areas such as technology infrastructure. Nethope and their partners provide expertise and coordination, whether it be a temporary crisis or an ongoing project. This approach allows the other aid organizations to focus on their strengths providing for basic necessities.

Thoughts

Has technology become a basic necessity or is it still a luxury? In an emergency, where does it fall on the list of priorities? I live near an earthquake fault and try to be prepared for a potential disaster. On the one hand, I can’t eat my smartphone, but on the other hand it would come in handy should my house suddenly become an island. I applaud the efforts of Nethope and other organizations that share their expertise with those in need. It is good to provide basic necessities and basic communications. I wish them well on their quest.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.

The Beauty of Blockchains

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A rainbow of color blocks.Last year I wrote about the Bitcoin revolution and some of the implications to our financial, currency, and trading systems. At that time, a single Bitcoin was worth $1,100 but now is only worth $379. There are wild price swings and talk of dissent among Bitcoin developers, as outlined in a recent Wall Street Journal article. Whether Bitcoin or some other crypto-currency survives in the long run, I think the most interesting story is the blockchain technology behind the rise of Bitcoin and the wide-ranging uses for this development.

Blockchain Explained

A blockchain can best be described as a ledger or database that exists simultaneously on hundreds or even thousands of systems. All of these copies are cryptographically connected to ensure data security.

In the case of a Bitcoin, every time a coin or a fraction of a coin is used, that transaction is recorded on the ledger. The database or registry records who had the coin and who now has the coin, which prevents a coin holder from spending the same coin multiple times. Because this registry is replicated in several identical databases simultaneously, someone attempting to hack into a system to steal the coin would have to hack into all of the systems at the same time. Changing only one instance of the registry alerts the other systems of the fraud and blocks the transaction. If blockchains can be used for currency, what are other possible uses for this technology?

Title Chains

Anything that requires a title could make use of blockchains. When you purchase a home or a vehicle, you need to know the person selling that property really owns it. A title tracks ownership through the life of the property. When you purchase the property, you are added to the title. This process takes a lot of resources, both human and computer, and is not immune to fraud.

When I sold stock, I had to send my paper certificate to a broker to prove that I was indeed the owner. When I bought stock, the broker sent me a newly issued certificate to prove that I was the owner. Now the exchange is executed electronically, but it can still take up to three days to complete a transaction because of all of the systems and humans involved in the process. All of these transactions could be simplified by secure blockchain technology, which would be quicker and would reduce risk and amount of paperwork.

Developing Countries

I think that developing countries could benefit greatly by using blockchain technology. Many of them do not have a secure title transfer infrastructure which limits their ability to buy and sell goods and services. Blockchains can be registered in small increments, even cents, so they can be used by entrepreneurs wanting to sell locally and worldwide without employing costly brokers.

Thinking on a larger scale, if an entrepreneur wanted to start a company, they could sell fractional shares in the company with each share secured by a blockchain transaction. The computing infrastructure does not need to reside in the community or even in the country but could be anywhere in the world. The transaction costs can be a lot lower, thus ensuring that more of the profit is kept in the community and reinvested for future growth and opportunities.

Thoughts

I am excited by the fact that technologies such as blockchains can create new opportunities. Coupled with other emerging advances, such as green power and wireless communications, this has the potential to be a game changer. Let me know your thoughts.

Author Kelly BrownAbout Kelly Brown

Kelly Brown is an IT professional and assistant professor of practice for the UO Applied Information Management Master’s Degree Program. He writes about IT and business topics that keep him up at night.