We know the advancement of technology, this might not be very true, as the technology is changing very rapidly. we experienced telecommunication technologies, cellular services, and computer generations, but now this is time to bring something new on the planet. Many new technological concepts evolved, like the Internet of Things (IoT), blockchain, augmented and virtual reality. let’s discuss them in detail.
Blockchain is a chain of blocks containing encrypted steam of data connected with the help of the peer-to-peer network. Each block in the chain contains Data, Hash, and Hash of the previous block. This technology is based on a very old system of the ledger, where a change in the existing block will be recorded by adding an additional block as a reference.
Blockchain technology is based on the algorithm. The algorithm is a step by step process to solve a problem. like many other inventions of earlier times, Algorithm was also introduced by a Muslim Persian Mathematician, Muhammad Al-Khwarizmi, who was born around AD 780.
There could be many uses of blockchain technology including but not limited to financial transaction, land tiles and maintain medical records. Furthermore, Hash or encrypted data is the key to this technology, where decentralized system prevents control of a single entity or person.
In the normal banking system, the centralized entity is the bank, responsible to make transactions on your behalf. On the other hand, blockchain distributed this role to many users scattered both virtually and geographical. This technology is growing very rapidly to make the financial transaction more robust and decentralized.
With the use this blockchain technology, Satoshi Nakamoto, an unknown person who conceives and develop the idea of the Bitcoin, originally authored the bitcoin white paper. Bitcoin gets many names back in 2018 when all in the sudden price of one bitcoin raised from few dollars to about $20,000. Bitcoin is also knowing as cryptocurrency (encrypted currency). By today, there are more than Fifteen Hundred (1500) cryptocurrencies in the world, and Bitcoin is still the market leader.
Recently, Facebook, announced to launce new cryptocurrency in the market. This shift of Facebook shows the future of blockchain technology.
blockchain Examples: Bitcoin, Ethereum, Ripple, Dogecoin, etc.
The world largest incubator, IdeaGest will support Pakistani youth to establish new start-ups in the field of Information and Communication Technology. Please visit here for more information.
What is Augmented Reality (AR)?
Augmented reality is a new emerging technology of interactive, computer-generated information in the real world and in real-time. This will overlay computer information in the real world to enhance user experience to the next level. Normally, the user wears a lens installed with glasses to see the picture and 3D model of objects. AR the next and advanced form of Virtual Reality (VR).
AR is helping you to connect with two isolated worlds at the same place while enhancing your visual experience. On the other hand, VR, that immerses you in a complete new isolated world.
Let’s understand this concept with an example
A computer programmer wrote a computer code of the new vehicle system on a piece of paper. He wants to examine his model in real-time. With the help of Augmented Reality, he needs only a glass lens to visualizes his code in 3D shape. After wearing glass lens a 3D model with emerging from that piece of paper to a virtual model. Here, Augmented Reality enhances the visual experience of a programmer to test and modify the car model into the next level.
ARKit and ARCore, both are powerful tools for the programmers and developers to create and manage Augmented Reality applications. It is predicted that by 2020 the users of AR will increase up-to 1 Billion.
Augmented Reality Examples: Google Sky Map, Layar, Lookator, Pokemon Go, etc.
What is Artificial Intelligence (AI) / Virtual Reality?
Artificial Intelligence is a virtual and artificial world of technology, which emphasizes the creation of computer-based intelligent machines that work like a human being. AI is the most widely discussed topic of this decade. Technological gurus mentioning this is as future of technology.
You have to wear a Hologram lens and/or glasses and you will be in a completely new world.
Recently, Nano IT Solution – Peshawar based AI company won prize worth PKR. 1 Million as Pakistan Start-up cup 2019. They are specialized in Virtual/Artificial reality gamings and applications. Winning of an AI company among hundreds of start-ups shows potential and skills of youth in this country.
Virtual Reality Examples: Software’s like Seri, Tesla, Cogito, Nest by Google, etc.