In this newsletter:
Is blockchain the hero we need to rescue the finance sector?
Like the school kid hiding the superhero’s true nature (we see you Spiderman) blockchain is often viewed as the gawky, incomprehensible teenager on the tech block. Something intriguing but the bigger kids pick on it because they feel threatened. But maybe, with some help, blockchain could help save future turmoil in the banking industry. With its lightning-fast, super-secure, and crystal-clear transactions, it's already a superhero in some banking settings - reducing costs, improving identity verification, and streamlining back-office processes. But, like any superhero, it's got its kryptonite. Regulatory issues, interoperability, scalability, and security are the villains that need to be defeated before blockchain can save the day. Banking leaders and those advising them can play their part by keeping up with the latest advancements in this rapidly changing tech. Time to suit up. FINANCE MAGNATES
Don’t throw the blockchain baby out with the crypto bathwater
Enterprise blockchain is becoming the responsible older brother of crypto, quietly thriving and making a name for itself while regulators crack down on its wild younger sibling. It's gaining popularity in various industries, from government to gaming, and experts believe it has the potential for near-limitless growth. Need proof? While some countries like India, Saudi Arabia, and Colombia are dipping their toes into the blockchain waters, California has recently taken a cannonball dive into the deep end by making it the star player in their recent Department of Motor Vehicles transformation. AXIOS.
From Smart Contracts to Decentralized Apps: The Latest Advancements in Blockchain Technology
Smart contracts are another of blockchain’s superpowers - revolutionising how we do business by automatically executing agreements in a decentralised setting. They bring with them a host of benefits, including reduced risk, lower costs, and improved efficiency. But like using any superpower for the first time, smart contracts aren’t without issues, from ensuring code safety to managing power consumption and addressing legal issues. Platforms like Ethereum, Hyperledger Fabric, and NEM each have their own strengths and weaknesses regarding smart contract development. And as we look to the future, exciting research areas like data science, smart contracts, artificial intelligence, and game theory will keep things interesting. MDPI
Study: Blockchain tech set to add £4.5 billion to Scotland's economy by 2023
The study found 60 blockchain-centric companies, 78 investors, 86 leaders, and 33 hubs in Scotland, with most in Edinburgh. Economic opportunities were identified across agriculture, manufacturing, health, fast-moving consumer goods, space, energy, finance, and education sectors. The Scotsman
The quantum threat to blockchain
More blockchain kryptonite on the horizon, this time in the form of quantum computers. Whilst still a distant danger, quantum computing poses a significant threat to any security system, including the cryptographic protocols that secure networks like Ethereum. Never fear! Help is at hand. Enter the heroes at Quantum Resistant Ledger (QRL). As quantum computing advances, QRL are developing safe methods for transactions and communications in a post-quantum world. ACCESSWIRE
In a field far, far away new open-source tools make AI-powered vision possible
Computer vision is a field of artificial intelligence that enables machines to interpret and understand the visual world. Used in diverse settings from managing product lines to stock control, and increasingly in areas such as aircraft safety checks and healthcare, it’s a powerful technology, able to classify objects and identify anomalies quickly. Computer vision devices are often used in field settings, from warehouses to hospitals, creating a problem - latency. Lots of data needs lots of bandwidth. And when people’s lives are on the line, you don’t want to rely on a mix of wired and wireless networks, or on cloud resources that may need to spin up before they can be used. As computer vision marches on Microsoft’s open-source KubeAI Application Nucleus is providing a low-touch, Kubernetes-based system for building and running AI applications for new vision-based devices. INFOWORLD
Solve a data sharing problem - 5 tips for blockchain implementation
To successfully apply blockchain in business, companies should consider using public blockchains, think in native blockchain technology terms, fix actual problems, and focus on creating lasting value. Paul Brody, EY's global blockchain leader, suggests that the best ROI opportunities combine multiple parties and shared business logic. His view? Blockchain technology can create as much value for multi-company ecosystems as ERP systems did for enterprises in the past. TechTarget
Event: Smart Manufacturing Summit - June 28-29th, Belfast
Did you know that the first webcam was created in 1991 at the University of Cambridge to monitor a coffee pot? The world has moved on since those first heady digital days. What was once academic is now a reality, and nowhere more so than the manufacturing sector, where data is the latest weapon in the war against excess energy use and supply chain challenges. The Smart Manufacturing Summit is a chance for anyone interested in Smart Manufacturing, the Internet of Things (IoT), Smart Transportation, Digital Transformation, Big Data Analytics, Blockchain, 5G, and Artificial Intelligence to get their geek on and discover the cutting-edge advancements that are shaping the world of manufacturing for the better. SMDH
The ByzGen guide to compliance auditing
Let's talk about compliance auditing - the process that makes sure businesses are playing by the rules and keeping things ethical. Often portrayed as the party poopers of the corporate world we think compliance teams deserve better press. They’re more like having a referee in the game of business, making sure everyone is playing fair. But what exactly are compliance and auditing? And how can blockchain technology make this process smoother than the paint job on the Dubai Police force’s Bugatti Veyron? Dive in and find out! BYZGEN
AI is changing our lives - Blockchain can make it more trustworthy
Apparently, some people are worried about whether they can trust AI. But fear not, friends, blockchain is here (again) to save the day! By storing and verifying data, blockchain can ensure that AI systems are not just making stuff up. Plus, blockchain can help avoid sneaky biases, help people make accurate decisions and allow concerned people to review how AI systems work. Worried about privacy? Blockchain also keeps things private. The only problem? Working openly and transparently isn’t in the DNA of many of the companies building systems like ChatGPT. This is why businesses and tech leaders need to work together to make sure we're using data ethically. And to help us avoid any potential robot uprisings. BYZGEN
And be sure to follow us on social media @Gen_Byz on Twitter, or @ByzGen over at LinkedIn.
See you then,
The ByzGen Team
Marcus, Terry, Shristy, Rob and Ryan
