The most powerful technological developments have been where we connect the physical world with the digital world in a totally new way. With connection speed and processes capability becoming ever more powerful, the only limitation will be our own imagination.
Over the past 10 years we have seen some amazing applications coming to the market which have had a profound impact on the way we manage our lives and do business. Take an example like Uber, where the driver and passenger became connected in a distinctively different manner. They took 4G, Cloud and Mapping, and plugged them into a single app. Similar applications were quickly replicated by others like Lyft, Didi, and Grab. Before you know it, we have millions of drivers around the world connected to billions of passengers.
Peloton, has brought the rigor of a personal trainer directly to our own home. Your car is beaming data to the manufacturer to build data models for autonomous vehicles of the future. 23andMe can track your ancestry and place of origin with a single DNA sample.
The connection of physical objects with the virtual world will become an increasing part of our daily lives. Wearable devices that will tell us what to eat and when to eat it, when to sleep and when to exercise? Perhaps even hormonal tests that tell us what life choices we should make and at what age? Maybe a virtual butler to automatically contact new “friends” and arrange social events? These will all be possible in the not too distant future.
5G is getting rolled out with a theoretical speed of 10 Gigabits per second, which compares with 4G LTE at a max of 150 Mbps and 3G of 3Mbps! As the connection speed accelerates on an exponential trajectory, the possibilities are both exciting and disturbing.
At TradeCloud, through our partnership with Roambee, we are connecting cargoes with contracts in a way never seen before in the physical commodities business.
Roambee is a leading IoT company that can improve the performance of your business with the monitoring of your physical assets from production to delivery to the customer. TradeCloud, using Blockchain technology, can digitise your contracts and post-trade execution, to increase performance and reduce risk.