Posts for technology

Case points to prove that governments are taking small, careful and innovative steps towards using blockchain technology for problem-solving.
Blockchain, Technology

Blockchain Technology In Governance – A Quick Brief

A look at how governments are gradually leaning towards blockchain technology
for better and easier governance.

Blockchain, also known as Distributed Ledger Technology (DLT), is nothing but a platform where digital asset transactions are recorded and stored transparently and chronologically. Almost all government departments require asset management and transactions. So, why depend on blockchain technology for this? What pushes the governments to choose this and win the public’s trust? What does the future hold for governance and blockchain technology? Why Should Governments Invest In Futuristic Technologies Like AI?

Blockchain and Transparency

The foremost difficulty faced by the public with government transactions is the slow, long and opaque processes. People are even unwilling to go through the expensive paper works and are tired of corruption as they are unable to see through the processes. Apart from creating easier processes, blockchain also became a platform for governments to gain people’s trust and engage them better in governmental transactions and procedures. Government identification numbers verified on a blockchain would result in easier voting system, taxation processes, gain more control over transactions, tamper-proof storage of government documents like passport, visa records, property titles, etc.


Though governments were hesitant to the point where cryptocurrencies were made illegal, countries like Chile have started accepting taxes in cryptocurrency. A section of the world views it as a coming-of-age development and more governments are expected to use this as a source of income. Another instance was when the US government started auctioning all the bitcoins seized in criminal offenses. In 2015, the US Service Marshalls auctioned about 44,000 BTC that was seized, proving that the governments need not always follow the mainstream route for cryptocurrency income. A series of auctions have happened ever since. Rootquotient is recognized among Top Fintech Software Development Companies.

The Dark Web

Since cryptocurrency is not monitored by a central authority, criminal offenses have plagued the system beyond measure. To curb this, the US government has been vigilant with strict ID checks and photographing people using the machines for the exchange to enable tracing. A strong case point for this is the Silk Road online drug market. The drug lord of Silk Road used a bitcoin platform to promote his illegal trade of mushrooms and could not handle the influx. Though he reached an all-time high immediately, it was short-lived. The US government insisted on the DEA and the FBI shut down the Silk Road due to several complaints on illegal activities and transactions.

The Other Side

A section of experts argues that central banks do not guarantee fraud-free transactions. In fact, there have been instances where their tinkering has resulted in corruption, increased unemployment, and recessions. Though this argument is legit, it has remained theoretical and the discussion has not taken a full charge to support the usage of cryptocurrency.

Where Do We Head From Here?

Innovation experts hail blockchain technology as the future. In 2017, the Canadian government launched a discussion on using blockchain technology in enterprises with the help of the National Research Council involving all governmental departments. In 2018, they successfully launched their first-ever blockchain trial publicly on Ethereum and tested the transparency of a large number of financial transactions and recordkeeping.

The US government has signed a contract with IBM Watson Health to experiment with the usage of blockchain to share patient data securely. This was to reduce the problem of lack of transparency in the health department.

Four major blockchain companies have launched the “Blockchain for Europe” association to be a unification point for all blockchain-related governmental organizations. They also aim to clear the air around the legalities of this technology, hoping to create a stamp of positive views on blockchain among people, with government approval. This will see the light of its day considering several governments are open to welcome cryptocurrency and other technology for transparent governance and futuristic policies.

These are case points to prove that governments are taking small, careful and innovative steps towards using blockchain technology for problem-solving. This might attract more investors and consumers, making it a part of mainstream governance in the future.

Written by Jayashree in August 1, 2019
Continue Reading
A look at the highly influential areas of technology like artificial intelligence for governments. Right investments and applications, will augment rather than replace human resources.
Artificial Intelligence, Technology

Why Should Governments Invest In Futuristic Technologies Like AI?

A look at the highly influential areas of technology like Artificial Intelligence, which the governments gain on.

Throughout the years, technology has played its part in shaping the modern digital world. With dependence on technology becoming more of a need, one must agree that it is only in the recent past that the government investment in futuristic technology has come on par with private investors. What makes it crucial for the governments to step in rather than watch the private sector take over the arena? What difference does it make compared to the technological advances the world has seen so far?

Upskilling The Workers Towards Artificial Intelligence

As technology takes over, workers in different sectors should be upskilled rather than simply complaining that humans are losing jobs to technological advancements. There will be jobs created by technology like AI, which would require more than normal skills found today. The finance sector is the best example of this today. AI is already assisting financial officers in augmenting financial planning and enhance investment strategy. Being a relatively conservative area, AI is used to track data-driven investments enhancing business modules. They are also used to prevent fraud, create better security mechanisms and track culprits based on their activities and so on.

An All-round Influence By Technology

Investing in futuristic technologies not only helps in better returns but also improve every field they are used in. For instance, robotic surgeries are far more accurate and precise than human surgeons; better infrastructure planning, citizen response systems to address their issues instantly and directly, defining policy requirements based on data collected, etc. are some of the areas where the governments are already using technology. While increasing their chances to retain power, technology also means immediate government regulations based on what algorithms indicate. Influential technologies like AI cannot be sent back to the start. They need to be used constructively like having a more open government, assisting in smart citizenship, resulting in a good balance between democracy and technocracy.

Industrialization of AI

A study suggests that about $15.7 trillion will be added to the global economy by 2023, thanks to AI, out of which North America alone will be responsible for 14.5% of the boost. With giants like the US and Canada spending actively on AI, such a massive impact can be achieved with the industrialization of Artificial Intelligence. As already seen, the wide range of applications and influences in various industries results in a constant state of innovation.

Growth becomes inevitable with innovation, especially in fields like agriculture, labor markets, energy management, etc. This is already in progress with the governments investing highly in researches and working closely with Universities to use fresh minds for development and innovation.

Right investments and applications will augment rather than replace human resources. Citizens are in touch with the most advanced technology as soon as they see the light of the world. Time is not in the governments’ favor. Hence, it is ideal that they start investing in these technologies today rather than watch the private sector make use of the gap and influence the people in their own ways. The government also could prove to be the point of control in not letting technology influence people in a bad way.

Most of the developed nations like Canada are focusing on technology as a driving force for a global society instead of simply looking at a national gain. A quick brief on the AI scene in Canada. In return, one can also say that globalization has impacted the perspectives of countries investing in futuristic technology.

Written by Jayashree in July 25, 2019
Continue Reading
Larger firms have a better view of the problem, for which startups prove to be problem-solving. A quick look at how Corporate Venturing acts as a win-win.
Enterprises, Startup, Technology

How Do Larger Firms Depend On Startups To Develop Technology?

A quick look at how Corporate Venturing acts as a win-win for the parties involved, the enterprises and startups.

The interdependence of larger firms and startups has become the norm in the world of technology. While big companies look to maintain their position intact in the competitive market, as they are constantly on the look-out for up-to-date and futuristic technology at the same time, startups become their go-to. Simply called Corporate Venturing, several big companies rely on startups to innovate and explore the industries ensuring minimum damage and maximum growth.

A study claims that Corporate Venturing was on a continuous rise throughout 2018. We cannot deny that the current year and the future will only see better investments.

Why Startups?

1. Innovation

Startups are constantly challenging the status quo and are hungrier than any established firm. The fire within to rise and shine has to be fuelled with proper finances. The big firms already have set systems in place and flexibility becomes rare inside the working environment, making it challenging to innovate at the speed which the market demands. Startups ensure a pipeline of new ideas to continue growth. With an ocean of workers and firmly rooted systems, it is almost impossible to expect speed and precision at the same time.

2. Exchange

In return, these firms offer finances, workforce, an easy establishment in the market, facilities, etc. The little spark of an idea is kept alive by these factors, which most of the startups do not possess. They do not have the means to scale their business. Larger firms act as catalysts to learn, explore and execute their ideas while also understanding existing business problems from a better perspective. In short, larger firms have a better view of the problem, for which startups prove to be problem-solving.

How Do These Firms Make Sure They Engage Well With Startups?

Big companies might not invest only in one startup. While they have their sights on many of them simultaneously, they make use of the specific capabilities of each startup rather than depending on one for every innovation. This results in an all-round development within a short span. In turn, the startups get access to the firm’s customers and the market easily.

When a startup presents an idea, if the firm validates it, there is a huge opportunity for the startup to experiment their solutions in the market practically. Startups are persistent. They are out there to prove a point. Hence, when something fails, it is not the end of the world. With enough trust and patience from the investing firms, their chances of succeeding go higher.

Collaboration need not always mean partnership. A lot of these big firms look for shorter relationships with startups and move on to other options. Sometimes, they can be mere extensions of the existing teams in a firm. Know the impacts of digital transformation in business. The brighter side of this is that the startups gain their customer base and also have a practical validation for their products and solutions. With clear communication on what they expect from the larger firms and where the collaboration leads to ensure a healthy relationship on both sides.

A successful partnering demands discipline, patience, focus and respect from both ends. Clear communication on expectations, demands, and requirements will put away any complication. With the right proportion of win-win in the mind, startups and big firms can collaborate to create a world of technological wonder.

Written by Jayashree in July 18, 2019
Continue Reading
Startups are at the intersection of technology, business, and innovation paving way to innumerable possibilities of transforming good to great.
Digital Innovation

How Are Innovations In Startups Contributing To Leveraging Technology?

As the world is climbing the digital ladder, businesses scramble to be at the top of the pile with innovations in order to claim consumer attention and market dominance. Startups become the best bet for even established organizations to lead in digital innovations satiating their hunger. A trailer of it can be witnessed in the annual summit conducted by Consumer Technology Association to support the best consumer technology innovations. Beyond such massive organizations, businesspersons are also looking to invest highly in digital platforms.

With almost all international bodies making efforts to support the best technological innovations, isn’t it important to know how these seemingly small companies contribute hugely to the international standard of digital technology?

Startups Are Under Watch

A recent report by Forbes confirmed that investment in startups that deal with Artificial Intelligence, health care, and clean technology has skyrocketed recently with Canada being the topmost country for AI on the global platform. It has become the center for startup investments with millions of dollars on the rounds. With TV shows like Shark Tank, the US is coming up with innovative ways to make startup investments popular and insist on the importance of their contribution to the global market. More than 20 of the 35 startups that reached the unicorn status in 2018 in the US have involved in digital innovation. With two of the largest countries in the west reaching their pinnacle, major cities like Berlin, Stockholm, London, Tel Aviv, etc. find themselves in the top 10 places for startups creating a digital revolution.

These startups also act as major support systems to established local and international institutions aiming to resolve local issues, guaranteeing them a market boost and sustainability. Know how do larger firms depend on startups to develop technology. Such intersection of technology, business, and innovation paves the way to innumerable possibilities of transforming good to great. For instance, Highspot is an AI service provider whose services are taken by moguls like Twitter, Dropbox, Siemens, etc.

Some innovations making everyday life easier have also resulted in consumers resorting to the latest technology irrespective of the field. In one swipe, people can find anything ranging from doctors to inverters to make up artists. When digital innovations evolve, there is also a significant effort put into cost reduction. Who would say no to easier and cost-effective solutions?

Technology – A Continuous Process

No startup is happy with simply one innovation. Technology is an evolving aspect in the everyday life of people all over the world, any product becomes usable globally. Several tech startups have been developing products for the world in deep-tech fields ranging from space, materials, data analytics, etc. Updates on the existing innovations also guarantee their stay in the market with rapidly changing times.

While it is generally viewed that digital innovations aid the success of startups, the converse has more weight in the current market scenario. Embedded systems result in almost zero defects or errors in the products produced. This automatically calls for futuristic views in using technology for better solutions for other existing problems, giving the companies more space to grow and innovate at the same time. Know the best iOS development tips & trends for App Store in 2019.

One major aspect all these innovations and startups teach us is that speed has taken a back seat over long-term opportunities and depth of technology. When the depth of technology becomes the primary focus, it is inevitable that these digital innovations leverage technology in the modern world.

Written by Jayashree in June 27, 2019
Continue Reading