The blockchain is the future of financial infrastructures. An ambitious look at how blockchain can reshape financial services.
The World Economic Forum has posted a PDF view of the Blockchain’s pragmatic impact upon global financial services. Its a very visual read to a great deal of research.
The key areas of focus are blockchain technologies that can push simplicity and efficiency. The opportunity to create new financial service infrastructure based upon high level information security.
The blockchain is looking to launch next generation financial services infrastructure. The report’s use case focus considers how blockchain technology can benefit multiple scenarios across future financial services.
The report is a follow-up to a Deloitte/World Economic Forum report Disruptive Innovation in Financial Services. This report analyzes blockchain across nine sectors of financial services.
When Melanie Swan’s book Blockchain: Blueprint for a New Economy written under the O’Reilly series was available I was eager to start reading. This is a thoughtful overview to the Blockchain. There is much to learn about the role of cryptocurrency and the blockchain but this is not the sole focus of her work.
Melanie, like Tapscott paints a wide brush across the Blockchain. Too similar to Tapscott perhaps? No. If the blockchain’s focus was just security then it would command a smaller, narrow focus on IT infrastructure. Yet Melanie provides a wider arena to learn how Blockchains especially in healthcare hold enormous possibilities.
My first book Don Tapscott’s The Blockchain Revolution was interesting. William Mougayar’s The Business Blockchain was better. My thirst for knowledge continues.This is possibly the best of the three at providing a deeper dive to the possibilities of a truly changing technology.
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William Mougayar’s new book The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology provides a blueprint overview that compliments Tapscott’s Blockchain Revolution previously reviewed. Mougayar is able to specifically touch on the Blockchain’s architecture. Tapscott painted with a wide brush addressing everything possible with the Blockchain’s decentralized trust solution.
Mougayar moves slightly forward addressing v 3.0 aimed at audiences wider than banking. A key view is that Blockchain will not just be for the enterprise. This will create a new crypto economy. It will be interesting to watch this grow. Care to take a live look? Here is the blockchain.info site.
He views the blockchain will revolutionize the roles of existing financial intermediaries including PayPal. Blockchains will force change upon them. They can adapt or die like the dinosaurs. Blockchains will disrupt oldschool, imperial organizations as the trust boundary shifts value away from them after hundreds of years.
Banks are clearly the key target of the blockchain infrastructure. To no surprise even the Federal Reserve has been given a blockchain briefing in June. The focus byMougayar beyond another blockchain overview is a breakdown of trust, obstacles and challenges to the Blockchain technology. The issue is much stronger in the financial services marketplace as Wall Street and international banks are now testing blockchains. He touches briefly implementing Blockchain technologies and closes by pushing the message of decentralization as a key in moving forward.
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For the last five years I had Brig. Gen. James E. Shelton’s book The Beast Was Out There: The 28th Infantry Black Lions and the Battle of Ong Thanh Vietnam, October 1967 on my must read list. I finally picked up a copy and read this book in just two days.
I first learned of this book while reading David Maraniss’ They Marched into Sunlight review here about the Battle of Ong Thanh while at the same time in Madison Wisconsin a campus protest against Dow Chemical resulted in a riot with City police violently clubbing students.
Shelton, a major at the time of the battle was the Operations Officer for the Black Lions in 1967. He was removed from this unit just two weeks before the battle. He knew so many of the soldiers who died. This was an event that changed his life. Two of Wisconsin’s sons died in this battle: Jack Schroder and Daniel Sikorski.
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Blockchain as a financial technology (FitTech) surged in late 2015. Wall Street banks and other international financial firms stress tested this technology and are investing in blockchain infrastructure. Even Janet Yellen and The Federal Reserve received a blockchain briefing within June.
Don Tapscott’s Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World is a worthy introduction to this advanced security ledger technology. This book is NOT about Bitcoin.
Tapscott paints with a wide brush across the underlying architecture. Looking for blockchain infrastructure, cryptocurrency or blockchain as a service than take a glance at the table of contents. O’Reilly’s Blockchain books are more targeted to tech folks anyway.
Hard to believe I have been a fan of Don’s writing for over 10 years. Just looked at my review of Wikinomics and MacroWikinomics, his previous books published way back in 2006. His follow up Macrowikinomics was released in 2008. It was interesting to me to understand Don lightly wrapped an element from Wikinomics called Ideagoras into The Blockchain Revolution. Sometimes you just cannot leave home….
Clearly FinTech sees the blockchain’s potential to disrupt their world. The focus for Tapscott is how to address Blockchain beyond Wall Street. The blockchain allows participants of public and private distributed systems to agree on a common view of a system and track changes across those systems with highly secure encryption. Security is also the core of healthcare blockchains with the focus on the crypto in cryptocurrency.
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Once Upon a Distant War by William Prochnau is a completely fascinating look at journalism coverage of the Vietnam war in the early 1960s. Remember how Napster disrupted the music industry? A handful or journalists did the same.
In 1959 Malcolm Brown arrived in IndoChina having earned his war reporting in Korea for Stars and Stripes.
A number of young journalists stationed in Saigon from 1961-1963 had the same effect on the newspaper industry at a time when television was about to eclipse print in news reporting to middle America.
The focus of Prochnau is the role of Malcolm Brown, David Halberstam, Neil Sheehan, Peter Arnett, Horst Faas and Stanley Karnow.
They even faced off with their editors who were Korean War reporters themselves but now lived and worked in Washington, New York and LA. The young turks were actually in the jungles with American advisors. They experienced first hand the early failures.
Critical reporting of the US war effort brought them into conflict with General Paul Harkins, commander of the US war effort in Saigon. Yet Prochnau identifies three events within the two year span that reset the war for America: Ap Bac, The Buddhist Crisis and the American coup against Diem. It was interesting to have understood how Halberstam was commanding the stories out of Siagon and establishing strong relationships with John Paul Vann leading into Ap Bac. All while being misled by US General Paul Harkins in Saigon who was commanding MACV.
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Joe Galloway and Hal Moore wrote We Were Soldiers Once And Young about their battle in the Ia Drang Valley. They reveal a deeper tragedy around the tipping point battle that would haunt America for a generation. As always the book is better than the movie.
The battle of the Ia Drang Valley casts a long shadow over America’s role in Vietnam. It carries implications today. The ambush and loss of 155 Americans from a single battle (LZ Albany) was the largest loss of life throughout the entire American war including the siege at Khe Sanh and the Tet Offensive. Please recall Khe Sanh was a six month siege while the Ia Drang Valley was less than 48 hours.
America’s fast growing role in Vietnam was largely based upon the Ia Drang Valley. The White House would establish “body count” as the measured outcome. At the same time I somehow missed that Norman Schwarzkopf marched into Ia Drang at LZ X-Ray the day after the battle.
Galloway has written an excellent account of the Air Cav surviving LZ X-Ray and also the failures of command moving troops to LZ Albany on the ground. His attention to detail unique that every man in battle is identified by name and hometown…many times the following paragraph revealed that soldier’s death. Three cities where I have lived lost men in the Ia Drang Valley. One solider killed on the second day at LZ X-Ray lived 9 miles from our home in Milwaukee. Young men from greater Chicago and Northwest Ohio also died in battle.
As portrayed in the opening sequence of the movie based upon this book, NVA soldiers executed wounded Americans in the Ia Drang Valley. The history of war in Asian culture is much harsher than in Europe.
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Have been looking forward to Tom Davenport’s Keeping Up with the Quants: Your Guide to Understanding and Using Analytics for longer than I care to admit. I throughly enjoyed his book Competing on Analytics all the way back in 2008. His followup Big Data@Work provides the same scope for business regarding the emerging era of Big Data.
Tom has truly mastered the role of business analytics for well over two decades. He is acknowledged as revealing the path of metrics and just as important how success can be defined by adopting a mindset of analytics over intuition. It should be no surprise that I am a big fan of Tom Davenport.
Seems like a lifetime ago in the competitive and fast changing world of analytics. Quantitative analysis with a side of regression is not a diner order but a key skill to identify patterns in data.
An easy read with great common sense approaches for leaders to understand and professionals to embrace it proves not only how business gains insights but how to defend Kobe Bryant.
On the heels of reading Nate Silver’s bestseller The Signal and the Noise, Davenport reveals how quants have not only broken down NBA basketball defensive measures to each quarter when playing Bryant and the Lakers but how to guard him in a last possession game scenario.
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Superforecasting: The Art and Science of Prediction by Wharton’s Philip Tetlock and Dan Gardner is another great read addressing analytics, human behavior and analytic technologies for establishing and sharpening forecasting abilities for any organization.
The book title is a wonderful attention grabber for me that demonstrates we live in the era of big data with business driving the age of immediacy.
Superforecasting acknowledges data lessons supplied by Nate Silver’s The Signal and the Noise as helping to define standards to data and how it misled the national media.
Yet just into the second chapter Tetlock and Gardner point to the research by Daniel Kahneman excellent work Thinking Fast and Slow to help determine behaviors shaped over time that have fundamentally changed how we predict success.
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FarmBot is an opensource and scalable automated precision farming machine and software package designed from the ground up with today’s technologies. The world’s population is growing and is projected to surpass 9 billion inhabitants by 2050. As a result farms must increase production by about 60 percent to meet demand which is stunning since many believe we have reached the limits of traditional farming.
In comparison to desktop digital 3D printers and CNC machines FarmBot extends the idea of X, Y, and Z directions and applies it to plows, seed injectors, water and sensors in order to accurately and efficiently grow plants and soil. I think that I would like to try this out in my own backyard.
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Makers: The New Industrial Revolution is the best book hi-lighting the impact Makers have established over the last five years. The Maker movement is growing due to the collision of powerful digital tools, the internet of things and cost effective manufacturing. As a child I always wished for these advanced tools to bring to life my ideas, inventions and the toys my childhood friends would talk about and dream about making.
My ideas for creating art was always apart of my Saturday art classes at the Toledo Museum of Art. The drawings I kept of my inventions have all but disappeared.
This is where Makers: The New Industrial Revolution comes into focus for parents and educators today a generation later. What is making this possible? The industrial global supply chain has driven the cost of affordable powerful IoT including the new $5 Raspberry Pi Zero that will drive new innovations at incredibly efficient price points.
We should be careful at home because the world is embracing these technologies. Remember Anderson shares his belief that inventors and creative types are actually makers. Now this is happening on a truly global scale.
If the buzz of 3D printers and filament reels make your eyes glaze please remember that YouTube is the best example of Makers sharing their passion. Look at any dedicated YouTube channel – say woodworking- and you will find Makers creating and uploading passionate lessons regarding their craft. Look no further than Esty for a commercial success as a reseller of Maker’s crafts now listed on the New York Stock Exchange. Simply unheard of just 5 years ago.
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Makers by Cory Doctorow is the fiction book about the Maker movement. Doctorow writes about two makers Perry and Lester who invent seashell robots that make toast or modified Elmo dolls that can drive a cars.
The companies of Kodak and Duracell closed and their product inventories are absorbed by venture capitalists with a noted blogger along side writing the story of their new company.
The story goes kinda weird when Perry and Lester begin building interactive rides in abandoned Walmarts in the New World world.
But as they find success they suddenly find themselves on the defensive as a Disney executive plans an aggressive attack on the interactive rides by convincing police that Perry and Lester are actually using 3D printers manufacture AK-47s assault rifles. Kinda went off the deep end for me.
As much as I generally dislike fiction this is a title that is focusing on the Maker movement and I really wanted to see a creative story about the promise and implementation of makers shifting the economy in small steps from their home garage or workshop. My interest regarding digital fabrication machines including CNC milling.
If you are looking for a better understanding of the Maker movement in general I would strongly suggest Chris Anderson’s book Maker The New Industrial Revolution as the best and most inspirational text to see how Makers are shaping the world around you.