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7 areas which blockchain expert should tell you.

7 areas which blockchain expert should tell you.

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The core suggests that the opening of the ICT economy requires both device intelligence and device interaction. The former relies on “digital hygiene”, and the latter relies on “network bandwidth.”

When IBM promoted the blockchain, it was said that the Internet of Things provided a very good matching scene for the blockchain. It is hoped that the realization of “device democracy” will open the curtain of “IoT Economy”.

Different from the complex link types and interaction modes of “people networking”, the interaction between devices is carried out from the beginning in a controlled environment, and is born with fully data-based device communication. It should be said that as long as the intelligence of the node is resolved, the interaction between the devices is easier to implement than the human-to-human interaction, and it is also more efficient. It is expected that the programmable algorithm can be driven faster.

Where are we now in blockchain ecosystem?

At present, mobile phones are the most important networking devices. Not only are they huge in number, they are also the most interactive. In the future, with the increase in the degree of equipment intelligence, there will be more and more networked devices. According to the estimation of authoritative organizations, the annual shipment of connected devices driven by the Internet of Things will reach the scale of billions of dollars, while the scale of mobile phones is only several hundred million. Therefore, it will not be long before the number of connected devices outside the mobile phone will completely overwhelm the mobile phone, setting off a larger and more influential wave of networking.

Today, both domestic millet and foreign Google and Amazon are all stepping up the layout of the Internet of Things. The giants of traditional information industries such as Cisco, Huawei, IBM, and Qualcomm are looking at the Internet of Things as the biggest opportunity. Last year, I visited the headquarters of Qualcomm’s San Diego company. Personally, I feel that if you say Qualcomm has “All in IoT”, it is not an exaggeration.

Looking back at the domestic market, Alibaba announced that it would strive to create the fifth-largest ecosystem besides e-commerce (Alibaba), finance (ANT gold), logistics (rookie network), cloud computing (Aliyun), etc.—IoT ecosystem. In conjunction with this, the Gaode map of Ali’s department has suddenly announced that “zero commissions” will enter the travel business. This will be a platform for Alibaba’s Internet of Things (IoT) layout to enrich the data reserve and scenario verification. To know, the past map service platform lacks two types of data, first is the user’s portrait data, followed by the device status data, and the construction of travel scenes will eliminate these two types of data. The zero-commissioned commission of the Gaode map was entered. It seems that the individual is the first step in the layout of Ali’s Internet of Things.

What is the next preparation?

The approach of the internet of things

The opening of the ICT economy requires both device intelligence and device interaction. The former relies on “digital hygiene,” while the latter relies on “network bandwidth.” The problem of digital hygienic use was limited by the individuation of equipment and scenes, and it was difficult to synergize and produce economies of scale. However, with the “edge computing” idea, this problem will soon be solved. The problem of network bandwidth will also be ready with the deployment of next-generation networks and 5G. Also, the deployment of IPv6 enables the device identity to be established, and each networked device will have a unique fixed IP address. The availability of these basic conditions will eventually ripen the economy of things.

7 pillars for supporting Blockchain

In the context of the ICT economy, will the basic business logic change? What kind of new economic form can be hatched? How should we respond in advance? The answers to these questions cannot be achieved overnight, but some rough outlines have already emerged.

  1. The first is transparency, which means that economics, ICT economy will achieve the greatest degree of economic transparency so that economic transparency is the inherent requirements of the ICT economy;
  2. Followed by the algorithm is the model, the ICT economy will be a programmable economy, the model embedded in Algorithm;
  3. Again, data is assets, in the context of the ICT economy, it is probable that all physical assets are no longer assets, only the data is the most real assets;
  4. The fourth both the perimeter and reach of the whole platform that the ICT economy sit on. The economic, cloud, management, provider terminal, and user terminal are the four most important factors.
  5. The fifth is the agreement, that is, the law. The communication protocol between devices will regulate the entire market order and play the role of law in real life.
  6. The sixth is People are equipment, the boundaries between people and equipment will become more and more blurred, equipment will integrate the will of the people, there will be many devices in the human body, regardless of people or equipment, are “nodes”;
  7. finally, consumption is production, Work is not a matter to be dealt with alone. It is a living condition. As long as it is still breathing, the work will continue. Even after the physical body disappears, your data is still working. Work hard for a node.

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I hope you find the article useful and feel free to discuss your view and share the post,

thank you,

Patrick Goh


Patrick Goh Mr. Patrick Goh B.S is a research engineer with more than 10 years in industry of IT, Engineering and Financial market experience. In 2013, he joined financial institute’s research team as R&D software engineer mainly researching on technical analysis, inter-market correlation and fundamental factor in leveraged trading instrument using machine learning technique and programming algorithmic trading strategy by quantifying trader sentiment behind the price movement.


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