It’s another meeting day headed by Adamawa DG usman shuaibu.
Now to his words:
Business models based on
IoT, AI and blockchain.
What is business model
Business model is commonly used by entrepreneurs in the business planning stage.
According to the concept proposed by Osterwalder, a business model is a conceptual tool that contains a set of elements and their relationships representing the business logic of the company. It defines the how the values are conveyed to the target audience, as well as the architecture and partnership in marketing, supply chain and cash flow.
☆ The Concept of Iot, AI, Blockchain
1- Internet of Things
The concept of Internet of Things (IoT) can be traced back to 1999, referring to the pattern that the computer controls various individual things. The International Telecommunication Union (ITU) defines IoT as “a global infrastructure for the informations society enabling advanced services by interconnecting physical and virtual things based on existing and evolving interoperable information and communication technologies”. Theoretically, IoT demonstrated the structure that physical objectives get connected by wireless network, so that they can exchange data and perform interaction. It is predicted that by 2025, more than 20.8 billion devices will be connected through IoT.
2 .Artificial Intelligence
The definition of Artificial Intelligence (AI) is very broad. Theoretically, it refer to the technology that machine can think and act spontaneously without specifically programming for it. In such way, robots can work for human and be able to undertake different types of task.
- Human-like robots like Sophia can communicate with human naturally in various language.
- Chatbots such as Google Home and Amazon echo are very popular today.
3.Blockchain and Cryptocurrency
Blockchain is a chain of blocks that contains information. The concept of block chain can be traced back to 1991. Blockchain starts to draw the public attention since 2009 when Satoshi Nakamoto use it to create the cryptocurrency Bitcoin. The information stored in each block is relatively very safe and very hard to tamper. Blockchain is the technology behind crypto-currency
Convergence of IoT AI and block chain
The combination of the these 3 (IoT AI and block chain) technologies arises large quantities of business opportunities for the entrepreneurs. In this section we will discuss about those target to pinpoint the convergence of these new technologies in business dimension and explore the incision point for the future startups though a specific example of self-driving cars.
- IoT solves the connectivity issue, by which means different smart devices in the future can get connected and exchange data with each other.
- AI greatly improves the automation rate of machines so that they can perform the similar task as human.
The intersection of AI and IoT can no longer be underestimated and the synergy effect between them is very promising.
Self-driving car is a representative integration of IoT and AI, requiring high level of connectivity and machine intelligence. Nowadays, many big companies such as Volvo and Ericsson have made a lot of investment in self-driving cars R&D, and the commercialization of self-driving car is estimated to take place in the future two or three years.
Sharing economy is becoming very popular these days. From the commercial success of Airbnb and Uber, the value of sharing culture is accepted the inviteFrom the service provides side, people are able to share out their spare resource when they don’t use it. Some customers take it as their part time jobs to earn extra money, while some even set it as their main source of living. From the service buyers’ side, they have better ways to obtain premium service without paying excessive amount of money. The differentiated and customized service can satisfy the customers with different tastes, providing more options in diversity. For example, one person wants to take Tesla to work every day. On the Uber platform, he/she only needs to spend a little higher price than the traditional taxi way for a ride, instead of buying an expensive Tesla. The customer to customer (C2C) business mode in sharing economy is brand new compared with conventional B2B or B2C modes, serving a new trend in the future business models.
The blockchain based DApp could serve as a link between self-driving cars owners and passengers. They are both customers in the C2C mode and the role is to pass on their needs to each other. The DApp allows the self-driving cars owners to share their vehicles when they don’t use it in exchange for extra money. The passenger can also use the DApp to find the surrounding vehicles for a ride, even in some area hard to find a taxi. It is the blockchain version of Uber but there are a number of significant differences.
The blockchain network is trustworthy because of the characteristic of blockchain. The transparent data is easier for different stakeholders to trace back the history when facing legal disputes.
When things get done… All transactions in our private blockain explorer will be visible there for ever. https://explorer.inksnation.io
currency digitalization is an inevitable process and the blockchain will take a critical part in it. During these years, the increasing number of people believe in the value the cryptocurrency such as Bitcoin and take it as part of their asset. Likewise Pinkoin, its a value coin which it price depend somnolent on Human… Human is the driving force on our Blockchain.
Inksnation will try to create a business model provides that every member or customers will fine new way easy to spend Pinkoin through connecting the online digital part with the offline activities.