Blockchain is Being Used a Lot for a Variety of Purposes

KPMG is leading a group that is using blockchain to monitor climate data and help companies to improve their footprint. IPwe has built the world’s first global patent market using blockchain. Trace Network is helping companies to create non-fungible tokens (NFTs) related to particular products that investors can buy and sell and consumers can track the development of those products. NFTs have become a big item for blockchain, which is valuable for ensuring the authenticity of the tokens.

Since there is so much mis-information and outright fraud online, blockchain provides a way to establish some much-needed trust. WindingTree used blockchain to create an open source registry that “provides real-time identification and verification of companies and their representatives.” Everest offers a financial inclusion platform to enable citizens to digitally verify their identify for public services and claim their social and economic rights. This fills a real need in some areas of the world. Carnomaly has an automotive marketplace driven by blockchain that enables users to buy and sell loans and assets without relying on a bank.

Blockchain is being used around the world for many other innovative purposes. To read more, check out this link.



Simon Biles Withdraws from the 2020 Olympics

Four-time Olympic gold medalist Simone Biles, widely considered one of the greatest gymnasts of all time, withdrew from competition at the Tokyo 2020 Olympics. She cited the need to focus on her personal mental well-being. Anyone who doubts the strength of character that would have taken, simply doesn’t understand the situation.

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AI and ML can Enhance or Disrupt Cybersecurity (as can Quantum Computing)

Artificial Intelligence and Machine Learning are becoming major components of cybersecurity. They are playing a major role in detecting threats in this age of increasingly sophisticated attacks. Perhaps the most common use of AI is for detection of fraud, scams and botnets. But generally, AI and ML have become essential for effective cybersecurity systems.

On the negative side, AI and ML in the wrong hands are making life difficult for those who want to protect their systems. They are crucial for gathering data in profiling victims, ransomware, deep fakes and other contemporary intrusion/scam techniques. For more on this, click here.

An interesting future development is the advent of quantum computing, which departs from the binary computers we mostly have today. Binary computers store information using bits that can either be 0 or 1. A quantum computer uses quantum bits, or qubits, which can be 0 or 1 or anything in between. Thus the computing power of a quantum computer is vastly greater than that of a binary computer, which means that cybersecurity systems built for binary computers can quickly be overcome by quantum computers. Defense will require the use of quantum computing. While this is not common now, it will be in future. -GDT

CPA Founding Partner

Chartered Professional Accountants of Canada (CPA Canada), one of the largest national accounting organizations in the world, has chosen to become a founding partner of ThinkTwenty20.