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Mar 22 2023

Should IOT lead your new product development efforts?

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Should IOT lead your new product development efforts?

Please come join us for a live online discussion revolving around the impact on product development The Internet of Things has had, will have, and more importantly, should have.

March 22 2023 – Please RSVP Here —

https://www.linkedin.com/events/theinternetofthingsimpactonprod7034494329691774976/comments/

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Should IOT lead your new product development efforts? Today we will be discussing, the impact on product development The Internet of Things has had, will have, and more importantly, should have.

So let’s dive in starting with The impact on product development The Internet of Things has had

The question here is Should IOT lead your new product development efforts? And the question is quite silly if we were having a discussion 30 years ago.

In 1990: Considered the first IoT device,John Romkeycreated a toaster that could be turned on and off over the Internet for the October ’89 INTEROP conference. Dan Lynch, President of Interop promised Romkey that, if Romkey was able to “bring up his toaster on the Net,” the appliance would be given star placement in the floor-wide exhibitors at the conference. The toaster was connected to a computer with TCP/IP networking. It then used an information base (SNMP MIB) to turn the power on.

John Romkeyimage <<<<<<<<<Image included

Should IOT lead your new product development efforts in 1990?

Probably not.

Fast forward 30 years, and if IOT is not a part of the product development, then just through the towel now and get it over with.

Your company is about to fail.

And you will fail because one of your competitors let IOT lead new product development efforts.

And here is why -Next up –The impact on product development The Internet of Things will have

Economies are turning more and more digital.

Digital Economies collect real data

Digital Economies use real-time data to improve outcomes

Digital Economies have intelligence about the marketplace that their analog counterparts have not developed and never could

The result is – Globally – Right now – in real-time

Digital Economies are growing analog counterparts are not

The reason behind this is true reporting. Digital Economies run on Truth.

Analog counterparts to Digital Economies depend on self-reported data. The optics are never close and always skewed. Garbage in Garbage out

And none of that even mentions IOT – Yet it could not exist without IOT.

And here is why –

In the same way, to explain how to use a vacuum cleaner you probably would not mention electricity – you would just say turn on the vacuum.

You see Digital Economies run on Real Data – And all that data is collected somehow.

Digital Economies run on Real Data reported accurately 24/7 at near Zero Marginal Coat.

By a network ——

And as our power grids work with electricity and connect billions of destinations

Digital Economies run on Data collected on a network that connects billions of Embedded sensors: Sensors that detect and communicate changes are being embedded, not just in mobile devices, but in an increasing number of places and objects.

And in 30 years this data network, Now called IOT, is so pervasive that most, just accept it, like they do electricity.

Next, we cover The impact on product development The Internet of Things, more importantly, should have.

Recently I went into a Home Depot, with some sort of APP they now have. I was able to type in Duct Tape and the APP gave me the aisle along with directions to the Duct Tape area of the store. This is IoT – and my device was the network device that broadcast my real-time location as I moved around.

I wished I had that App for my Healthcare.

Every time you have a new provider, you have a new building to navigate to, and a new office to wander around the complex to find. And where can I find the doctor’s recommendation again? He said it once, and he said a bunch of other things as well, what were they? Where is that paper I had???????

And I wished I had that App for my Vacation!!!

Pipeline to platform Image <<<<<<<<<Image included

Rental cars are in short supply, events are not organized, and you may need to make multiple reservations, on multiple platforms, and then keep track of which member rewards card this trip is on. For a mother of four, this is comparable to calculating the exact trajectory of a golf ball traveling from here to the moon. And if you need to change things, well that brings the trip pretty much to a halt. And all of that is acceptable. We just smile and pay more than we did, and get less than we did. For the most part, we are all just happy to be out of the house.

Until one company in a niche understands The impact on product development The Internet of Things will have. And then builds an IOT network, that builds value at zero marginal cost.

10 million new autonomous vehicles per year will be entering U.S. highways by 2030. IoT plays a significant role here, tracking in real-time vehicle vitals and sensing position and correcting thousands of times a second.

Today’s sensors are 1 billion times better (1000x lighter, 1000x cheaper, and 1000x the resolution) than only 30 years ago. Where will we be in 10 years from now? By 2030, 100 trillion sensors could be operational worldwide.

What kind of Sensors, probably ones no one has thought of before? For instance, the cost of DNA sequencing dropped precipitously (from $1B to $5K) in only 15 years. By 2024 it could be $0.01. – Think Proof of Identity at near zero marginal cost

In 2000, it took $5,000,000 to launch an Internet startup. Today the cost is less than $5,000.

And all of that, starts, lives, and operates, on an IOT network, that has already become so pervasive, that no one talks about it anymore.

Like electricity.

And products, goods, and services, that use electricity are developed with electricity in mind, of course.

And products, goods, services, that use electricity replaced those using Gas Lamps, and Horses, and Steam.

And products, goods, and services, that use data are developed with data in mind, of course.

And products, goods, and services, that use data replaced their analog counterparts, who continue to use self-reported data streams.

And if you want to do that, the first thing you need is an IOT network.

Start there, then develop where the Data Ditates.

IOT starts at the network.

BizBuilder Mike Logo <<<<<<<<<Image included

2 canned questions for the Q&A panel on the 22nd

Q How is THE DATA IOT collects currently Used in Organizations

Inefficiently, mostly due to the segmentation in organizations. Platform organizations tend to include more of the stack in a digital form.

Q Can you tell me what you think is the most interesting use of IOT

A Platform Business or organization and here is why –

The Positive feedback loop

How many Cows are coming through the gate

10

How many Cows are stampeding

2

We adjust

How many Cows are coming through the gate

6

How many Cows are stampeding

0

I talk quite a bit about that in my book Tokenomics is not Economics

Link to zip file with all content https://bizbuildermike.com/wp-content/uploads/2023/03/BizBuilderMike-Logo-244×244-1.zip

Written by bizbuildermike · Categorized: Advanced materials, Front Page Featured

Mar 07 2023

Utah Passes Law Recognizing Decentralized Autonomous Organizations

The Utah State Legislature has approved a new law, the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to decentralized autonomous organizations (DAOs). This legislation, also known as the “Utah LLDs,” was passed after the combined efforts of the Digital Innovation Taskforce and the Utah Blockchain Legislature.

The Utah DAO Act defines the ownership of DAOs and protects anonymity through bylaws compliant with the act. Additionally, quality assurance DAO protocols have been introduced to ensure clear nuances in tax treatment and updated DAO functionalities. This new legislation marks an important milestone in the legal recognition of DAOs and their role in the digital economy.

DAOs are organizations that operate on a decentralized blockchain network, allowing for decentralized decision-making and management. With the increasing adoption of blockchain technology, DAOs have emerged as a new form of digital organization, and they have already begun to play a significant role in various sectors of the economy, such as finance, gaming, and art.

The Utah DAO Act provides a legal framework for DAOs, giving them the same recognition as other traditional organizations. With legal recognition, DAOs can enter into contracts, own property, and enter into legal disputes. Furthermore, the limited liability protection provided by the act reduces the legal risk associated with investing in a DAO.

The introduction of quality assurance DAO protocols is an essential aspect of the Utah DAO Act, ensuring clear tax treatment and updated functionalities. These protocols provide DAOs with a standardized method of operation, ensuring transparency, and maintaining the trust of investors.

In summary, the Utah Decentralized Autonomous Organizations Act is a significant milestone in the legal recognition of DAOs. With this new legislation, DAOs in Utah can operate with greater confidence and security, knowing that they have legal recognition and protection. As blockchain technology continues to develop, it is likely that other states will follow Utah’s lead in recognizing the role of DAOs in the digital economy.

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Utah Passes Law Recognizing Decentralized Autonomous Organizations Republished from Source https://blockchain.news/news/utah-passes-law-recognizing-decentralized-autonomous-organizations via https://blockchain.news/RSS/

Written by bizbuildermike · Categorized: Blockchain, Front Page Featured · Tagged: blockchain

Feb 28 2023

The IMF Releases a Report on Jordan Preparations for a Central Bank

After the International Monetary Fund (IMF) has finished its technical assessment on the country’s markets, the Central Bank of Jordan is one step closer to taking the next step that is necessary to launch a retail central bank digital currency. This action was necessitated as a consequence of the International Monetary Fund’s (IMF) conclusion of the research that they commissioned (rCBDC). In order to give assistance in the development of a CBDC feasibility study the previous year, the International Monetary Fund (IMF) sent a mission to the bank that lasted for a combined total of three months and lasted for the whole of the preceding calendar year. During the course of the preceding calendar year, this mission was carried out. On February 23rd, the research was made available to the public by the International Monetary Fund.

An investigation on the current condition of the retail payment sector in the country was carried out by the International Monetary Fund (IMF) during the months of July and September 2022. After looking at their data, they came to the conclusion that the market was “extremely linked.” According to the findings of the study, the nation has a high smartphone penetration, and there are two non-bank payment service providers (PSPs) that provide goods that are “generally accessible and appropriate.” Additionally, the country has a large number of people who own smartphones. In addition to this, a sizable portion of the population of the nation has a computer and access to the internet.

Despite this, a rCBDC would expand people’s access to financial services by making them available to them even if they do not have telephones. This would make it possible for more people to benefit from these services. Because of this, it will be feasible for a greater number of individuals to make use of these services. There are a few other ways, besides those already mentioned, in which a rCBDC may be of aid to the domestic payment system. These include decreasing the costs associated with transferring money internationally and making the infrastructure of a rCBDC accessible to payment service providers (PSPs).

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The IMF Releases a Report on Jordan Preparations for a Central Bank Republished from Source https://blockchain.news/news/the-imf-releases-a-report-on-jordan-preparations-for-a-central-bank via https://blockchain.news/RSS/

Written by bizbuildermike · Categorized: Blockchain, Front Page Featured · Tagged: blockchain

Feb 22 2023

The digital pound: a new form of money for households and businesses? Consultation Paper

A new platform could enable a wide range of new technological capabilities. However, in
the UK, this approach would have a long lead time compared to the renewed RTGS
which will start delivering in 2024.


The global central banking community continues to experiment with technologies
associated with wholesale CBDC (including establishing new infrastructure). The Bank
engages closely with such initiatives to evaluate whether wholesale CBDC technologies
offer benefits to the UK and, if so, whether they might best be delivered via the renewed
RTGS service, or whether new infrastructure might be needed. In particular, the Bank is
closely involved with the work of the BIS Innovation Hub, especially its London Centre,
so is well positioned to understand and learn from the range of experiments and
approaches being trialled internationally with regard to wholesale CBDC, and wholesale
settlement more broadly.

Download the report here

https://bizbuildermike.com/wp-content/uploads/2023/02/the-digital-pound-consultation-working-paper.pdf

Written by bizbuildermike · Categorized: Biz Builder Mike, Front Page Featured

Feb 21 2023

US Supreme Court considers scope of liability for internet publishers

The US Supreme Court on Tuesday appeared hesitant to make sweeping changes to legal protections for internet publishers as it began considering a pair of cases that could fundamentally alter laws governing online platforms such as Google and Twitter.

The two cases mark the first time the high court will directly weigh in on Section 230 of the Communications Decency Act, which protects online platforms from legal liability over content posted by their users and is widely seen as central to the development of online communications.

In the case before the court on Tuesday, Gonzalez vs Google, the relatives of a 23-year-old American student killed in a 2015 Isis attack in Paris accuse Google of breaking US anti-terrorist laws by helping the terror group spread its message by hosting Isis videos on its YouTube platform and recommending related content to users via algorithms that rely on inputs such as viewing history. They argued Section 230 was enacted before the rise of algorithms, which have fundamentally changed how content is recommended and consumed online.

During oral arguments, the Supreme Court justices seemed sceptical about interpreting the law to expose platforms to liability for recommended content. Justice Elena Kagan said there was “a lot of uncertainty” in adopting the petitioner’s argument “just because of the difficulty of drawing lines in this area”.

She and other justices suggested the US Congress may be best placed to address such a complex matter. Kagan told the petitioner’s lawyer, Eric Schnapper, that “once we go with you, all of a sudden we’re finding that Google isn’t protected, and maybe Congress should want that system. But isn’t that something for Congress to do? . . . These [justices] are not the nine greatest experts on the internet.”

Some justices also raised the risk that eliminating immunity under Section 230 could trigger a wave of legal challenges. “Hundreds of millions, billions of responses to inquiries on the internet are made every day . . . every one of those would be a possibility of a lawsuit,” said Chief Justice John Roberts.

Google has argued there is no connection between its recommended videos and alleged violations of the Anti-Terrorism Act. It also warned that losing immunity under Section 230 would have significant knock-on effects given the widespread use of algorithms to sort content online.

Google’s lawyer, Lisa Blatt, told the high court that Section 230 “created today’s internet”. She addressed the use of algorithms by saying that “all publishing requires organisation” and that these “features [are] inherent in all publishing”.

Justices will hear oral arguments in a related case, Twitter vs Taamneh, on Wednesday. That case arises from a deadly Isis attack at a nightclub in Istanbul, Turkey, in 2017. The relatives of one victim sued, alleging Twitter, Facebook and Google knowingly assisted the terrorist organisation by failing to stop its supporters from using their sites to disseminate their content.

Section 230 has become a flashpoint for Big Tech critics who argue it has allowed platforms to skirt responsibility for the spread of damaging material and impede freedom of speech by sidelining certain users.

A brief filed by the US Department of Justice warned against an “overly broad reading of Section 230”, which it said “would undermine the enforcement of other important federal statutes by both private plaintiffs and federal agencies”. Children’s wellbeing featured in briefs filed against Google’s position, with Child USA, a rights group, arguing the immunity granted by Section 230 has jeopardised children’s protection online amid a boom in internet content.

A string of tech companies, including Microsoft, Meta and Reddit, have filed briefs defending Google’s position. Facebook parent Meta argued that algorithms are a “critical component” of its anti-terrorism policies and that a broad Supreme Court decision “would encourage websites to remove all but the most benign views, turning a marketplace of diverse perspectives into a platform for orthodox perspectives”.

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US Supreme Court considers scope of liability for internet publishers Republished from Source https://www.ft.com/content/248718f2-0f49-4339-9ed6-3eda0a2f536c via https://www.ft.com/companies/technology?format=rss

Written by News Worthy · Categorized: entrepreneur, Front Page Featured, Technology · Tagged: entrepreneur, Technology

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