by Anika D | Mar 28, 2021 | Blockchain, Business
BlockChain is open, dispersed ledger accounts that keep the record for all transactions between two parties efficiently. It contains a sequence of data for every transaction of each individual. Blockchain Use Cases in banks and finance are very popular these days.
The best part is that all the customers can easily share a digital ledger, and there is no need to look further for any centralized authority. This makes transaction processing with blockchain faster.
It is not only restricted to speed, but you can also make money with blockchain.
If you want to know how blockChain use cases in banks, you are in the right place. Let’s learn how it offers a new level of transparency as well as security to its banking customers.
Quick Payments
With the adoption of decentralizing channels for payments, banking institutions can facilitate quick payments. Further, it facilitates more security to every individual as well. Moreover, 90% of the European Payments Council members consider that blockchain will change the payment industry by 2025.
Better Clearance and Settlement Systems
It may also enable bank transactions to get completed directly and maintain track in a much better way. With this, there is no need for financial bodies to rely on a network of regulatory bodies and custodial services. Hence, it becomes easy to settle transactions.
Raise Funds
All organizations that deal in blockchain focus to speed up the process of payments by raising funds with different alternatives. It includes firms like Equity Token Offerings (ETO), Initial Exchange Offerings (IEOs), and Security Token Offerings (STOs).
Loan and Credits
In traditional financial institutes, they underwrite loans only after verification of credit reports. But with a new approach of blockchain, customers can have peer-to-peer loans that are safe and fast as compared to the traditional ones.
Trade Finance
Another area where blockchain can revolutionize the concept of their working is the trade finance sector. Trade finance includes all the financial activities for international trade and commerce.
So, the concept of blockchain in this sector helps to streamline the trading process with digital documents, which you can access from anywhere and anytime.
Digital Identity Verification in Banks
Here, you can get the benefit of a fast verification process. This is because it will safely reuse identity verification for other services as well.
One of the most well-known innovations in this area is “Zero-Knowledge Proof”. Now various countries and big corporations are working on a solution that supports ZKP. Choosing the right industrial wireless technology is also important to leverage this and other benefits.
Accounting and Auditing With BlockChain
When it comes to digitalization, the accounting sector is still neglected. One of the reasons can be the need to follow the strict regulatory requirements for data reliability as well as validity.
That is why blockchain can potentially transform the accounting process. As a result, the reports and accounts will be more transparent and safe.
Final Words
When banks use this approach in their banking system, it enables them to process payments in a quick and accurate manner. All in all, we can say that blockchain allows the banking sector to provide better customer experience.
by Anika D | Mar 20, 2021 | Emerging Technology, Industrial IoT
BMW is revealing the next version of iDrive, the tech and infotainment interface that has been at the heart of the automaker’s in-car experience for the past two decades.
The eighth edition of iDrive will be based on a new “curved” display that stretches halfway across the dashboard from behind the steering wheel. The 12.3-inch instrument cluster and the central 14.9-inch infotainment panel will be combined into a single display that is oriented toward the driver.
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The new iDrive will debut in BMW’s new iX electric SUV and the BMW i4 electric sedan later this year.
BMW New Curved iDrive Display Features
Better Precision with the Control Knob
BMW’s iDrive system combines a big screen with a control knob. The knob and other function keys are positioned near the shifter in the know. Each of the individual keys controls a different widely used feature, such as navigation or media.
Built-In Navigation
A navigation component is included with the iDrive system. On the right side of the dial is a hotkey called “Map” for navigation.
Skilled Drivers Would Appreciate These Features
Check out the iDrive Professional if you want an updated version of the iDrive. It improves the device with many new features, including a larger navigation screen. The navigation system receives an update as well, with new functionality such as real-time traffic alerts.
Project with Simplicity
The iDrive system’s design simplicity is perhaps its most influential attribute. Because of its simpler controls and information structure, it is one of the most intuitive infotainment systems. The majority of the time, using iDrive means scrolling through well-organized lists of feature controls.
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Using ultra-wideband (UWB) technology
iDrive loads a driver’s personal settings as soon as they start approaching the vehicle by sensing their key fob or smartphone using ultra-wideband (UWB) technology. iDrive supports both Apple CarPlay and Android Auto wirelessly.
Moreover, there are three driving modes: sport, personal, and efficient. These control driving functions like engine throttle, steering characteristics, regenerative braking, and chassis settings, as well as internal and external sounds. In addition, new modes may be added via over-the-air software updates in the future.
BMW’S decision for vehicle owners
BMW has backtracked on its controversial decision to charge an annual fee for the use of Apple’s CarPlay in its vehicles
According to BMW, the car’s brain would be a major change over previous ones. The onboard computer would be able to process 20 to 30 times the amount of data that previous models could, or about twice the amount of data that could be processed previously.
Conclusion
BMW New Curved iDrive Display is well ahead of the competition. With all of your BMW’s features in one device, it’s simple to take advantage of the car’s full range of capabilities with technologies, like IoT, 5G, etc.
by Anika D | Feb 12, 2021 | 5G
With a number of devices becoming part of the Internet of Things (IoT), a need for a powerful wireless Internet is imminent. This is where the fifth generation (5G) of wireless technology comes in handy. In this post, explore surprising facts about 5G.
The technology has started hitting the industry by the end of 2018 and will continue to expand worldwide.
Surprising Facts About 5G
With countries and network providers on the battlefield to prove their 5G technology, here are five surprising facts about 5G.
#1: 5G Subscription Will Reach Billions By 2024
Since 2019, the 5G network connectivity will roll out in selected markets. More customers will have the opportunity to upgrade to this new service in 2021 and beyond.
For the moment, most 5G connections are restricted to wireless technologies associated with home internet service, but a new generation of phones designed for 5G cellular service is already hitting the market.
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The 5G subscription will be around 1.9 billion worldwide by 2024.
#2: 5G Will Be 100 Times Faster Than 4G
There is no doubt that current 4G LTE network technologies are pretty fast. But 5G is expected to be 100 times faster than 4G, and it is believed that it delivers speeds of up to 2.5 GB/s.
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However, some companies promise to offer even higher speeds. With 5G, you can download the 3GB movie within a few seconds.
#3: 5G is Not Just for Phones
In addition to smartphones, 5G led to the invention of smart cars and smart cities with superb powerful features. You will see self-driving cars communicating with the world to pass through the traffic on the road.
Due to low latency and higher capacity of 5G, the smart cars can communicate with locality at quite a fast speed.
In addition to vehicles, 5G has huge implications on wearables, augmented reality games, virtual reality headsets, smart home appliances, PCs, etc.
Moreover, 5G will enable smartwatches to track GPS in real-time.
#4: It Cost You High than 4G
5G networks depend on a large number of smaller cell towers. Therefore, the network providers will need to make good investments in the infrastructure of 5G to add more towers.
According to Deloitte, the United States will need to invest about $130 to $150 billion in fiber optic cabling for 5G. So, the users also need to pay more for using the 5G network.
# 5 Companies Have Started Developing 5G Devices
Many big companies are currently working to develop 5G and to bring the technology in their future devices. The organizations like Samsung, Apple, Huawei, Intel, Ericsson, and Qualcomm are in the race of developing 5G.
Therefore, you can expect the fast 5G technology in your area in the years to come.
Want to know whether 5G is safe or not? Click here to know.
Final Words
5G is like the new wave of networks that promises to change your life for good. Unlike 4G, it is fast and quick. You can download a full HD movie just in seconds with this technology.
The facts about 5G shows that it is going to be a game-changer in the field of networks. Also, it fulfills the dream of smart cities around the world.
