High Tech Genesis

Image by Geralt on Pixabay The trading realm is evolving unprecedentedly, with at the helm of this transformation. The ubiquitous integration of AI in trading is hard to ignore, given that the global AI market is projected to reach a staggering . This growth underscores the increasing importance of AI technologies and the new opportunities and challenges they introduce. AI $407 billion by 2027 As we navigate the pros and cons of AI in trading, it's essential to understand that it's a double-edged sword. On the one hand, AI presents groundbreaking efficiencies and potential profits, but on the other hand, it brings significant cybersecurity concerns in finance. This article offers a balanced, insightful examination of these contrasting aspects. Understanding AI in Trading AI trading strategies represent an innovative leap in the financial sector, blending high-tech algorithms with data analysis to maximize profitability. This enticing fusion of tech and finance paves the way for unprecedented market insights and investment opportunities. Let's delve into AI trading strategies, illuminating the past, present, and potential future. Definition and scope of AI in trading Trading using AI refers to the use of complex algorithms to make trading decisions. These systems analyze vast amounts of data and execute trades at lightning speeds. Automated trading systems have revolutionized modern finance, enabling high-frequency trading and reducing the likelihood of human errors. They offer the potential for greater efficiency and profitability, but their use also raises essential ethical and security questions. Historical context and the evolution of AI in finance The genesis of AI in finance began in the 1980s with rudimentary algorithmic trading. With advancements in technology, AI swiftly progressed. From simple predictive models, it evolved into complex neural networks by the 1990s. The advent of machine learning in the 2000s further propelled AI's capabilities. Today, are integral to finance, encapsulating trading, risk management, and financial planning. sophisticated AI trading strategies Pros and Cons of AI in Trading AI presents a fascinating blend of benefits and challenges. Its impact on the trading industry is transformative, reshaping the landscape in unprecedented ways. Let's uncover AI's intricate pros and cons in trading technology, shedding light on its potential to revolutionize trading as we know it. Pros of AI in trading Here are the pros of using AI trading strategies: Enhanced marketing efficiency AI trading strategies streamline and expedite the trading marketing process. They decipher complex market data, identify patterns, and accurately predict trends. This leads to informed decisions and targeted marketing strategies. Further, automated trading systems reduce costs and increase response times, boosting overall marketing efficiency. Superior data processing and analysis AI in trading revolutionizes , making financial decisions faster and more efficient. Automated trading systems can handle vast amounts of market data in real-time. data processing and analysis They identify subtle patterns and trends that humans could miss. These systems excel at predictive analysis, providing traders with insightful forecasts. This superior analysis capability translates to more precise, data-driven trading decisions, enhancing profitability. Automated decision-making and speed AI-powered trading systems ensure speedy and automated decision-making. They analyze and act on market data at an unrivaled pace, offering a competitive edge. This lightning-fast decision-making ability eliminates the lag associated with human intervention. It enables traders to capitalize on fleeting trading opportunities, which are commonplace in volatile markets. By eliminating human error and emotional trading decisions, AI ensures more strategic, efficient, and profitable trading. Cons of AI in trading Here are the cons of AI in trading: Ethical considerations and biases AI trading systems can inadvertently perpetuate biases, skewing trading decisions based on flawed algorithms or biased data. Ethical considerations arise when these systems prioritize profitability over fairness or transparency. Furthermore, such biases could lead to discriminatory trading practices, amplifying market disparities. This highlights the need for rigorous bias and ethics checks in AI trading strategies. Risk of over-reliance and loss of human oversight An over-reliance on AI in trading could result in a lack of human oversight. This absence of human judgment might exacerbate market risks. AI systems, while efficient, lack the intuition and adaptability inherent in human traders. This makes them susceptible to unexpected market changes. Moreover, an over-reliance could lead to complacency, with traders not fully understanding the underlying trading strategies. A balanced approach between AI and human oversight is crucial for sustainable and responsible trading. Cybersecurity threats and data privacy concerns While highly efficient, AI trading platforms expose financial markets to an increased risk of cyber-attacks. Cybercriminals can exploit weak security measures to manipulate trading algorithms and compromise sensitive data. Additionally, data privacy concerns arise as AI systems process large quantities of personal and financial information. Therefore, implementing in finance is paramount in AI trading to protect the integrity of trading strategies and the privacy of trader's data. robust cybersecurity The Impact of AI on Trading Strategies and Performance AI has revolutionized trading strategies with its accuracy and speed, fostering a new era of automated trading systems. These sophisticated systems are transforming traditional trading, offering innovative strategies and improved performance. Innovative trading strategies enabled by AI harness the power of artificial intelligence to analyze vast data sets, identify trading opportunities, and execute trades at lightning-fast speeds. These strategies can learn from market patterns and trends and adapt their tactics accordingly. AI trading strategies AI's ability to process high volumes of data and make real-time data-driven decisions significantly enhances trading operations' efficiency and profitability. Incorporating AI in trading strategies has ushered in a new era of precision, speed, and effectiveness in financial markets. Performance Analytics Automated trading systems provide robust performance analytics, furnishing traders with critical insights. These systems analyze market data, assessing trade performance with pinpoint precision. The analytics highlight effective strategies and potential areas for improvement. This data-driven method leads to more informed decision-making and improved trading outcomes. Risk management in AI trading AI significantly bolsters risk management in trading. It delivers predictive analytics, enabling traders to foresee potential market downturns and adjust strategies proactively. Enhanced cybersecurity measures in AI trading systems also ensure data integrity and privacy. Due to AI's ability to detect anomalies, cybersecurity threats are identified and mitigated promptly, safeguarding financial transactions and confidential data. AI's role in cybersecurity in finance is crucial, ensuring safe and secure trading operations. AI's Impact on Employment in the Trading Sector AI's integration into the trading sector isn't just transforming strategies—it's revolutionizing the job landscape. As we delve into its impact on employment, we'll explore the delicate balance between job displacement and creation. We'll also discuss the changing skill requirements in this rapidly evolving industry. This exploration will shed light on the increasingly vital role of human expertise amidst the rise of machines. Job displacement vs. job creation AI has led to job displacement in the trading sector. Due to automated trading systems, traditional roles, such as floor traders and stock analysts, are becoming redundant. These systems can execute trades faster and more accurately than human traders, enhancing efficiency and performance. Moreover, AI can analyze vast amounts of financial data in real-time, eliminating the need for human analysis. On the flip side, AI has also stimulated job creation. are emerging. For instance, AI trading strategists analyze AI trading outcomes and refine AI algorithms. There's also a surge in demand for AI compliance officers who ensure AI trading systems adhere to regulatory standards. New roles that require expertise in AI and machine learning AI developers and cybersecurity specialists are also in high demand to build and protect these systems. This indicates that while AI may replace specific jobs, it's also creating new roles for those with specialized skills. Changing skill requirements The shift towards AI trading mandates traders to adapt their skill sets. A strong understanding of AI algorithms, data analysis, and financial modeling becomes crucial. Expertise in programming languages like Python that aid in developing AI strategies is beneficial. Lastly, skills in risk management, understanding AI ethical considerations, and regulatory compliance are indispensable in this increasingly AI-driven trading environment. The Human Element in AI Trading While AI has disrupted trading with its speed, efficiency, and data-crunching prowess, human insight remains essential. This intersection of AI and human expertise creates a dynamic, transformative landscape in trading. The nuanced balance between these two elements unfolds as we delve further, revealing their collective impact on AI trading strategies. Let's explore the enduring relevance of the human element in this AI-dominant environment. Importance of human intuition and management Human intuition in trading continues to hold ground amidst advanced automated trading systems. Experienced traders, with their intuitive understanding, can discern patterns in market behavior that AI might overlook. Furthermore, they can make adaptive decisions based on fluctuating market contexts, something that AI systems may struggle with given the limited predefined parametrics. Therefore, while automated trading systems provide significant benefits, human oversight often brings balance, propelling successful trading strategies. Balancing AI and human decision-making Striking a balance between AI and human decision-making in trading has its unique set of challenges. AI tools excel in processing vast data, making quick decisions, and reducing human errors. On the other hand, they lack the intuitive understanding humans have of market subtleties. Humans excel at making flexible judgments based on experience and context. However, they can be slow and prone to errors. The ideal scenario is a symbiosis—AI offering efficiency and speed, humans providing oversight, nuance, and intuition. Training for tomorrow's AI-enhanced workforce Preparing for an AI-enhanced workforce entails comprehensive training and upskilling initiatives. Companies must foster a continuous learning culture, encouraging employees to embrace AI tools. Training should focus on understanding AI's capabilities, application in their respective roles, and ethical considerations. This readiness will help businesses adapt swiftly to AI's influence, particularly in dynamic sectors like marketing, where data-driven strategies are gaining prominence. Exploring Cybersecurity in Finance Evolving technology comes with increased cybersecurity risks, particularly in finance. While financial institutions harness AI's immense power, they must simultaneously address cybersecurity concerns. The following sections dive deeper into this critical interplay, highlighting the importance of robust security measures in our increasingly digital world. Emerging threats in AI systems AI systems in finance are facing emerging cybersecurity threats. Hackers are exploiting AI's intricate algorithms to launch sophisticated attacks. These threats can compromise data integrity, disrupt trading operations, and tarnish a company's reputation. Additionally, deepfakes, powered by AI, pose a significant identity verification challenge. Consequently, the industry must invest heavily in advanced cybersecurity measures to counter these risks. Strategies for securing AI in trading Here are practical yet helpful strategies to secure your trading journey: Employing multi-factor authentication is crucial to secure AI in trading. This strategy enhances access control, reducing unauthorized entry. Regular audits can help detect anomalies early. Encrypted communication protocols bolster data security during transmission. Continuously updating AI algorithms increases resilience against emerging cyber threats. Privacy Concerns in AI-Driven Trading Privacy concerns occupy a pivotal role in the rapidly evolving realm of AI-driven trading. As financial institutions leverage AI's prowess, they grapple with an unseen adversary—privacy breaches. These intrusions are detrimental to their reputation and potentially risk their financial stability. Now, let's explore this further and see how the finance sector can navigate this precarious cyber landscape. Data collection and usage In AI-driven trading, vast amounts of data are collected relentlessly. This data, encompassing personal details and transaction histories, fuels the predictive capabilities of AI models. However, such extensive data collection can infringe upon your privacy, as sensitive information could fall into the wrong hands. Moreover, concerns about how this data is stored, processed, and shared persist, warranting stringent data governance protocols. The delicate balance between leveraging data for AI and maintaining privacy is a pressing issue in today's digitalized trading world. Legal implications of privacy breaches When privacy breaches occur, the legal fallout can be severe. Financial institutions may face hefty penalties if found to be non-compliant with data protection laws. Additionally, they may suffer substantial reputational damage. Clients could lose trust and opt for other service providers, leading to a loss of business. Therefore, financial entities must adhere strictly to laws and regulations, taking a proactive stance in ensuring the safety and confidentiality of user data. User consent and data rights Consent and data rights form the bedrock of ethical AI trading. Users must knowingly give consent, understanding the extent of data use. Explicitly stating data rights upholds transparency and builds trust. Informed consent is fundamental to adhere to cybersecurity norms. It fuels the relationship between the finance sector and clients, anchoring it in trust. Redefining Markets With AI: Balancing Risks and Rewards AI is redefining trading markets and unlocking potential while introducing new risks. Emphasizing data privacy and cybersecurity while exploiting AI's capabilities can strike a balance. The benefits are significant: AI can identify trading patterns, automate transactions, and improve decision-making. However, the risks, including data breaches and privacy infringements, are concerning and demand attention. In conclusion, as AI revolutionizes trading markets, it will be crucial to balance its rewards and risks. The future holds promise if we navigate responsibly, ushering in an efficient and secure trading era.

Reflecting on the Pros and Cons of AI in Trading: From Ethics to Cybersecurity Issues

283 Stories To Learn About Founders

There is always a simultaneous connection and conflict of interests between investors and founders. This is most evident in the project’s tokenomics. This text is our proposal for a possible correction of the mistakes of the past years, which takes into account the achievements of V. Buterin, an analysis of unsuccessful projects and our own vision. A few words about the figures. Facts The ICO market has received a sufficient amount of criticism, but ultimately, it has given a powerful boost to the development of various trends, spheres, industries, and even new markets: DeFis & NFTs like, Ethereum, Bancor, Tezos, and Tron; distributed storages, such as, Filecoin, SiaCoin, Storj, and MaidSafe; and multi-blockchains like, Cosmos, Polkadot, ETH2, etc. But with all the undoubted advantages of ICOs: speed, minimal bureaucracy (SAFT - and go ahead!), high-tech (smart contracts, the freezing of tokens, etc.), excellent ROI indicators (1000% and even 100,000% - far from the limit) - but there are also dark sides. Mainly from those who collected money, but not much I.e., third class projects and lower. However, many aspects relate to crypto projects in general, not just to the ICO industry. Here is Example #1: From $1,497 to $27 - a rapid plunge? Yes, but not the only one. Here's another one - from $1,565 to $144: But still, in these cases, you can make adjustments for PoW (Proof of Work), mistakes with the mining strategy and long-term resistance to currencies such as BTC, ETH, etc. (talking about Zcash & Dash). In addition, Dash's strategy and brand have changed multiple times, and this is not the best case for any market, especially one that is going through the formation stage. But let's take a look at those same 3rd level ICOs. Look: Output. The fast pump & dump, and perpetually flat, "well below the primary placement level" (PFWBtPL). Here’s another example, so that it doesn't seem like an exception: And now, for another one - SONM: a project that was scolded for a long time, but eventually did what it had promised to (ok, perhaps not everything according to the original roadmap, but definitely everything that it could), and, furthermore, it was also higher in terms of ATH (all time high), even if we take the peak from the ICO: And yet, the mysterious creature, PFWBtPL, who lived on the SONM chart for 3 whole years, was difficult for all investors. But why? There are many reasons, but one of the main ones is that most start-ups believe that “no matter who they are, they definitely” should get to the TOP right away. Meanwhile, Cardano took more than 5 years to do this, Polkadot more than three, and those who declared themselves as an ether killer, still cannot fulfill all of these promises and only collect money from new hype. And what about LTC & DogeCoin, which were born long before many of today’s TOP-10, and were mainly in the shadows until 2021? In general, as the coin market showed, and the ICO market, the DeFi market, and even the NFT market to some extent, the whole problem is ... liquidity. Rewriting smart contracts based on short-term interests is a bad idea. It’s strange to change the investment conditions for each new investor. But at the same time, business is flexible, not absolute. What to do? Any experienced player, athlete, entrepreneur, inventor, or any other, always saves their best for the most crucial moments, but at the same time they always try. Simply put: without a reserve fund, any business isn’t worth much. The 2018-2022 crisis has been proving it in the best way possible. Therefore, our vision is as follows ... Two partial reserves are better than a full one If the United States does not have enough money, they print it, if Russia does not have any money, it searches in the reserve fund, if Venezuela does not have money, it publicly announces this, without shame. Proudly. That is to say, that the poorer a country is, the fewer tools it has to influence the economy from within. But even Venezuela tried to hedge itself through crypto (whether it was successful or not is not the question of this material). So what is worse than crypto projects that have a lot of innovative tools in their hands? Nothing. Therefore, the first thing to do if a startup launches an IDO (or whatever new form of ICO there will be), is to remove some of the funds to the reserve fund. Most of it should be left for the closed rounds, and a small part for the token's entry into the public market. Why? The first part will resolve the eternal dilemma between "start-ups and early investors": Are new rounds needed for a start-up? Who can participate in them? What receipt? What will determine the freezing period? Such issues have long been resolved through DAO, but DAO requires the writing of smart contracts, well-thought-out decision-making strategies (majority voting is common practice but it’s outdated), etc. The main thing is that DAO takes time, and projects do not have it during the early stages of development. Hence the emergence of this mechanic: On the one hand, it allows you to ask questions about unlocking the required amount of tokens for new investors, and “old” investors, i.e., the early ones. On the other hand, using the best market practices and freezing tokens, if a demand for them may later appear (for example, a startup conducts parallel negotiations with several funds at once), or burn them if the sufficient funds are raised, etc. And last but not least, such a process allows you to work out the mechanics of the DAO even before it’s created: to see all the nuances of making a decision, estimate the average time for such a decision, learn from the feedback of others, and so on. Something similar was proposed by the first crypto billionaire from the Ethereum sphere, V. Buterin, while he was researching the interactive token sales and the DAICO scheme. But in both cases, he wanted to rework the entire ICO mechanics, which would have deprived it of its undoubted advantages (see above), whereas the approach proposed here (let's call it “partial double reservation through a virtual DAO”) which conversely allows these positive aspects to be strengthened. But why do we need a second fund? It's even simpler: pure liquidity. It is needed by the P2P pools if we go towards DeFi (and who won’t go there after 2020?). It’s necessary if speculators decide to play around and reserve too many utility tokens. And finally, it fits well with the concept of DAO/DEX markets, where it’s always important to have reserves for new directions. If we continue with this way of thinking, it turns out that the funds accepted by the start-up (both fiat and cryptocurrencies) provided in exchange for tokens or also need to be partially reserved. And this is why: it’s possible to write a roadmap for 1-3 months, or even for 1-3 years. This is proven by the experience of Cardano, Ethereum, Polkadot and other sensible projects. But planning for longer periods (5-10 years) is tricky, especially for such innovative areas as blockchain & cryptocurrency. What to do? We distribute the funds raised for the first 3-10 stages BEFORE the creation of the DAO, and then we’ll distribute, say ⅓ or ⅔ of the funds received the moment the DAO is launched. Fair? Yes, certainly: both the startup team and the investors of different stages have tokens, which means that they all have a voice. As a result, instead of archaic mechanics, like “I said you have to”, you can use more flexible ones, based on categories such as ‘decentralized management’, ‘synergy’, etc. As for downsides, it is worth pointing out the difficulty of this approach for early investors. Not only do they need to understand the main idea of the project, but they also need to evaluate its tokenomics. However, let's be honest here: if you sign a SAFT and the project is not just a speculation for you, then in whose interests is its development and promotion? That's right - in yours. Therefore, this method is aimed not just at those who have money, but particularly at investors with an active position, who want to help the project develop from its genesis to its release at a specific, definite time. Plus, using P2P mechanics, since that’s what a decentralized autonomous organization is about. Nevertheless, perfection has no limit and, perhaps, tomorrow it will be recommended to apply the Taoist practices of ikigai and kaizen. There are other solutions to the situation described, but we won’t dwell on it for now. So long! P. S. This piece was written by , legal advisor for the SharpShark project. These ideas were first communicated during our collaboration while shaping Shark’s tokenomics, and we all decided that they can exist as a standalone material. Enjoy! Vladimir Popov aka Menaskop

ICO/IDO & Funds: A Deep Dive

Silicon Valley has always been a dream destination for developers and tech talent. The so called “The Bay Area,” is the world’s largest and most famous startup ecosystem. Associate Professor Peter McGraw, Director of the Executive MBA program at the University of Technology Sydney (UTS), believes that “it is the epicenter of all these shifts happening in technology. It is home to more than 2,000 tech companies including Google, Facebook, Atlassian and Airbnb, and it really is the center of the startup world.” Nevertheless, along with many advantages, the Bay Area comes with some weaknesses as well – the most important being the very high cost of operating and/or living and the level of competition – new players are showing up and striving to become the most sustainable and desirable startup ecosystem in the world. After Brexit, Berlin and Frankfurt were considered to be taking over the title of “the European Silicon Valley,” but there is also something else very important going on in the Old Continent and it needs to be considered—the case of Eastern Europe. Eastern European tech hubs are on the rise, and early stage investment in the region has surged from $10 million to $283 million in just five years (2011 to 2016). This growth is expected to accelerate even further since new accelerators, co-working spaces, meetups, mentoring opportunities, and reliable VC companies are acting as catalysts. There are almost 30,000 startups now operating in Eastern Europe. While ten years ago, Central Eastern Europe (CEE) was not even part of the list of foreign investors, today, thanks to the fillip given by startups such as Skype, Prezi, Avast, Transferwise, and others in the region, CEE is drawing attention east, as a rival in the tech world. Some of the most important reasons this is happening are the knowledge, expertise, mindset, and the low cost Central Eastern Europe has to offer. Tallinn, Estonia Estonia is home to about 400 startups and has a population just slightly more than a million people. Estonia has the third highest number of startups per capita in Europe, according to the Startup Investment Report Estonia by Funderbeam, Tallinn, the capital city of Estonia, has been named as the center of innovation in the CEE region. It is home to two of the most well-known success stories in CEE, Skype and Transferwise. Today, both companies have relocated their headquarters to Stockholm and London, respectively. However, for these startups Tallinn remains the main source of development talent for their product teams. Two more success stories born in Tallinn could also be the cases of GrabCAD and Pipedrive. The first one was actually founded in Tallinn (and not Massachusetts) before being acquired by Stratasys for $100 million. Still GrabCAD’s product is being developed mostly in Estonia. has already raised $31.2 million and decided to move its headquarters to New York while keeping a large part of its operations in Tallinn. Pipedrive The system in Estonia is designed to develop the next generation of digital workers. According to , Estonian children are taught to code at school and Tallinn University of Technology has partnered with some of the world’s leading universities such as the MIT, Harvard, Berkeley, and Stanford. Forbes Prague, Czech Republic Prague, the capital city of the Czech Republic is also known as “The City of a Hundred Spires” or “The Golden City.”. These sobriquets are anything but random. Apart from the great infrastructure and amazing architecture of its buildings, the privileged location of the Czech Republic between Central and Eastern Europe make it the perfect place to access as well as “attack” both markets. With a young population that is technically very well-qualified compared with the other countries around, with a high level of English and its very affordable cost of living, Prague has turned out  to be a very competitive player when it comes to startups. Polish software company Netguru supports that the business-friendly environment and focus on high-tech have spurred the rapid growth of IT companies, which are the primary target for the venture capital industry. As a result, the Czech Republic is now the second largest private equity market in CEE. Avast, a Czech cybersecurity company, is one of the best-founded tech startups in Europe. It was funded in 1988 and appears to be the first unicorn of the country. While the London Stock Exchange in May 2018 valued it at £2.4 billion, in 2016 Avast acquired rival AVG for $ 1.3 billion.The city has helped build a variety of very well-known startups such as Kiwi.com, GoodData, JetBrains, and ZOOM International. This is mainly due to the high availability of technical talent as well as due to locally-based funds such as Prague’s Credo Ventures, Genesis Capital, and ARX Equity Partners. Budapest, Hungary Divided by the Danube river and lying between Buda and Pest, this city is split but not riven. According to the , a lively startup ecosystem has been sewing itself into the fabric of Budapest, boosted by cool cosmopolitanism and strong technical talent emerging from Hungary’s universities. Financial Times Many existing startups in Budapest came to life as a side project in some outsourcing development workshops. The hottest domains are cybersecurity, encryption technologies, big data, and SaaS. Budapest is ranked as the top Eastern European ecosystem for scaleups due to the city’s availability of capital. Based on , Budapest became the No.1. capital in the European Union in terms of per capital venture capital in the past 5 years. CEED Tech There are three sources of venture capital in town: the traditional VC firms managing private funds, JEREMIE funds, and government-owned venture funds, Széchenyi and Corvinus (MFB Invest) which have made investments to more than 150 companies to date. The tech infrastructure in Budapest is exceptional as well. Several Budapest startups have succeeded globally. Ustream, which provides video conferencing solutions, was acquired at the beginning of 2016 by IBM for $130 million and is the fastest online video conferencing provider worldwide today. Prezi, created in 2009 by Adam Somlai-Fischer, Peter Arvai and Peter Halacsy, was meant to replace ordinary slide presentations. It was built with the support from Kitchen Budapest and Magyar Telekom incubators. The hugely popular company now has raised over $70M from investors such as Accel Partners. Given its pace and ever eager startup community, it won’t be long before it becomes a leading startup destination in Europe! Take-home Notes The growth story and success of Central and Eastern Europe as a tech hub is mainly due to a combination of factors, including its geographic location, an abundance of affordable skilled labor, the attractive business environment, and the countries’ low corporate tax rates (which vary per country) — making both living and conducting business extremely affordable. In addition, in this area the availability of skilled technical talent scores high and foreign investors are turning their attention to cities which show high potential to become the new Silicon Valley of Europe. Simon Szczepankowski, CEO of Buddy, says that “in CEE we have brave founders who dream big; what is missing is the venture capital (VC) culture of the Silicon Valley.” While this is true and there are only a few entrepreneurs and investors willing to take risks and support brave founders, the region is making huge and fast steps into turning itself in a coding powerhouse. The proof lies in the successful startups born in the area even though at some point in their story, they decided to (or might) move HQs outside home, they keep their technical and product teams home. Furthermore, big organizations such as Google and IBM seem to be attracted to the immense talent available in Eastern Europe and invest more and more money on outsourcing activities in the area. To conclude, Eastern Europe seems to be home to great talent with technical background and most of them are willing to freelance with companies outside the region or relocate to other countries for work opportunities. Therefore, this talent could be a great opportunity for your organization/project as well.

The Rise of Eastern Europe as a Coding Powerhouse

Blockchain — The Radical Metamorphosis Shaping Our Financial Future Blockchain has its critics, but no one can doubt the efficacy and trust factor it can bring to finance in the future. Those that fear it, however, are the ones who will see their revenues fall. The financial service industry is on a knife’s edge, and blockchain technology is there to witness the impending collapse Refurbishment The future is definitely out there, but whatever it is, it’s our own making, our own destiny. To refurbish what we’ve already accomplished, and to go beyond it is going to take a great effort. However, there is one kind of technology that can do all this and more, especially in the financial sector. Surprisingly, though, it isn’t AI nor Robotics. Neither big data nor quantum computers. Not even, thank goodness, social media. It is called the blockchain, and it’s coming for you, it’s coming for all of us. Lenin created the perfect revolution, but not the best. That’s been saved till now. Blockchain, to describe it in simple terms — or as simply as can be expressed without inundating you with technical words and geek-speak — is the underlying technology of bitcoin and other cryptocurrencies. Although often confused with the digital currencies as being the same thing, they are inherently different. Air of Nonchalance Since the first email was sent by , to the genesis of , we have ridden the wave of technology with what some might call an ‘air of nonchalance’. This is no surprise, actually: innovations have come thick and fast, one after the other, in a continuous stream of wondrous techmanity that has even outstripped the magnificent achievements for inventions and human endeavour in 15th and 16th century Italy and the 1800s in Great Britain. Ray Tomlinson in 1971 the Internet in 1989 Ray Tomlinson, Sender of the first email. Source:timesofap.com But that was all before the blockchain arrived, which if it promises to do what the specialists in the field are telling us, will change the financial landscape of the world for all time. Since the advent of the internet, we as individuals and society have been able to disseminate information across borders and over continents at great distances with the click of a mouse. Documents, emails and text messages. The internet can send them all. No big deal, right? Maybe. Yet what the blockchain can offer us is something different, a more secure environment for delivering and transferring information. Lessons Learned Take money, for instance. One of man’s greatest inventions, and something very important to us. Fiat currencies, those controlled by governments and central banks, are at the core of everything we do in regard to trade, exchange and banking services. Bonds, stocks, financial assets, too — are all tied to fiat currencies and business. If something goes wrong with it, and the whole house comes tumbling down, there’s trouble. 2008 saw that happen. When we send a document on the internet, all we are actually doing is sending a copy of it, a facsimile of the original content. It doesn’t really matter how many times we do it because it is only a reproduction. With money, however, this would be a very bad thing to do. This phenomenon, called double-spending by cryptographers, is one of the big problems facing cryptocurrencies and the blockchain ecosystem. When one person transfers money to another, it is of paramount importance that I, as the sender, do not still possess the money after I have transferred it to the recipient. Presently, to complete these types of transfers with fiat currencies, the financial world relies on middlemen or agents, to verify and accomplish this task, which in turn, establishes trust in the financial markets. These intermediaries usually come in the form of banks, governments and other high-level institutions. Up to now, they have generally (with some blips) done a good job. (Boos and sighs go up) The Cure Yet, cracks have appeared in their system, especially in relation to our high-tech, switched-on world, where data is vulnerable to hacking and other odious invasions. Photo by on freestocks.org Unsplash There are countless examples of financial institutions with multi-million-dollar cybersecurity systems suffering ignominious data breaches: Citigroup in 2011 , JP Morgan Chase in 2014 and First American Financial Corporation this year. These are just a few examples of such cases, but as times goes by, and hackers get smarter, things can only get worse. Blockchain. Such companies, sadly to say, are dinosaurs in more ways than one. Take a bank transfer — if you want to transfer money by traditional methods, it can take a few days. Across the globe, say to a poor African state with only a rudimentary banking system, a week or even more, all the while the bank takes a handsome cut in the percentage of the transfer. That’s simply unfair. Blockchain. Ten, fifteen, twenty percent commission, that just isn’t right for doing virtually nothing. And it’s got to change. Blockchain. But there’s more bad news. They steal your information, your data, the personal stuff about you, too — a double whammy! Our privacy, the lives we live, are all being kept under tabs by a 21st century Stasi. Blockchain. Take a moment, if you will, just to think about this: These companies, colossal, magnates of the modern age, have stolen the endowment of the digital age, raped and slaughtered the masses, metaphorically speaking, to gain the upper hand, the power to control us, manipulate us, to mould the world as they see it. There’s wealth creation next to a growing poverty index. Blockchain. Inequality is a fashion statement to be ashamed of. We have Trump and his New York coterie. Putin and his Russian oligarchs. High-ranking Chinese members of the Communist party. Arab oil billionaires. All members of a worldwide conspiracy of Freemasons, a club you and me ain’t in, unfortunately. Now, do you believe me, that things have to change? And they have. We have an internet of information. We have the blockchain. BB AND AB There should be a BC and AD of blockchain, but re-christened BB and AB: and A_fter Blockchain_, because that’s how groundbreaking it is. The world will never be the same after this, and who wants it to be, anyway? Before Blockchain The blockchain is the global ledger, the internet of value, the information system available to every person with a pulse, where every human endeavour — be it creative, pecuniary or free-form — is available peer-to-peer, unshackled by the restraints of governance, third-party exorbitant charges and copyright issues. Storage. Management. Transactions. All sorted. This is the new age, motherfucker. And without the haemorrhoids of intermediaries to contend with. Because now we have a universal value system. Jesus, thank goodness for brains, for foresight. , the person (or persons) who sprung up from the Land of Nowhere in 2008 and saved the future world from travesty with his white paper on a new protocol for digital cash, a cryptocurrency, called Bitcoin, should be awarded a Nobel prize. Satoshi Nakamoto But he won’t be, of course. Because the men upstairs, those cretins in control, won’t let him/her/them/it receive it. We don’t care, though, because Bitcoin lets the masses establish trust and do transactions with financial modalities without the hassle of third-party dopes who are a waste of oxygen. Satoshi’s maneuver, somehow, incited the about-face stance with the financial degradation not seen since the Wall Street Crash of ’87 and 2008’s debacle. The reversal in thought, a shock to the system for many, was a counter to that greed, the compulsion for wealth and ‘show me the money philosophy’ that marinated most of the ethos pre-bitcoin. Don’t get me wrong, Bitcoin is nothing more than a speculative asset, something that goes up and down, at least at the moment. If you like the stock market, or cryptocurrency trading platforms like Coinbase and Binance, then go for it. You may make a shitload of cash, . fiat variety, that is To gain currency status, I don’t know, could take a long time, maybe never. Global Dodge The fiat currency of today, regulated by Trump and all the other sheriffs in the Global Dodge, controls the market of all nation states. And grateful you and me should be for this. But there’s still blockchain. And the blockchain is going to create a society based on trust and common motivation for peer-to-peer transactions without the scams, without the criminality, without all of the bullshit many people face every day through the schemes of banks and other untrustworthy financial establishments, through some clever coding in cryptography. The most powerful sheriff in town. Source: upi.com So, how, you may ask, does the blockchain technology work? Simple. Traditionally, money or any other digital asset has been centralized, but with blockchain, the global ledger, it is spread out, disbursed across all member (called nodes) and utilizing the highest level of cryptography known to man. Once a transaction has been completed, it is sent across the world to all the other nodes, so they all have a copy of the transaction. But there’s more. People called Bitcoin miners, these are big players. Some are individuals, others operating in groups in what are called mining farms, and they have powerful computers to work with. So what do these miners do, and why are they so important for the operation of the blockchain? Every so often, let’s say every few minutes, a block of transactions gets created on the blockchain, which has on it every transaction done within that specified amount of time. This is where the miners earn their supper: immediately, they get to work, competing with each other, trying to crack and then validate the block. Once successful, they are rewarded with Bitcoin or any other altcoin on a specified blockchain. What happens then is a stroke of genius: That block, now validated, is connected to the preceding block, which has been connected to the one before it and so forth. Each of these blocks has a timestamp embedded on it, which secures the block, and all other blocks, from being hacked by double-spending trickery. This works on the premise that to hack the block, the hacker would have to hack all blocks at the same time in that chain across the millions and millions of nodes across the blockchain ecosystem, which are secured by the most advanced encryption devices available. Impossible, or almost that. This is the blockchain. This is what it does. The Guilt For decades the traditional ways of moving fiat currency and doing business have been in the hands of the few, using complicated, outdated methods that have had their day but are still, quite unbelievably, used to the detriment, in most cases, of society. The financial service industry is the guilty party. Just think about it like this: I make a payment by card, say for a flat white at Starbucks. That payment then goes through numerous financial institutions, each of them with their own computer systems, until a few days later the transaction is settled. Whoopee. But it’s not good. The status quo has to change. That’s where blockchain and cryptocurrency come in. With them, the payment and settlement are actually the same, completed instantaneously with no hassle and no extra cost. This revelation has the financial industry quaking in its boots. Cryptocurrencies and the underlying blockchain technology is there to take over its mantle. Now, the thought leaders in the financial industry are worried whether they should fight the coming onslaught or try to accept it as the new modality. The fear is warranted, though, because the blockchain could, for the first time in history, spread the wealth out because at its very essence the technology is fair, transparent, egalitarian, invented by people, just like Satoshi Nakamoto and others, who believe a system that benefits the few, as in the current financial model, is not in humanity’s best interests. Let’s allow it to happen, and fast! <a href="https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/href">https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/href</a>

Blockchain — The Radical Metamorphosis Shaping Our Financial Future

Learn how Victoria and the BetterMe team leveraged social media to go from 0 to 15 million downloads of their health & fitness apps in under 2 years. Davis Baer : What’s your background, and what are you working on? I’m the CEO of , an ecosystem of health and fitness apps I co-founded in 2016 which currently offers guided workouts, meditation, yoga and walking. BetterMe Our apps are used by millions of people who try to lead healthier and happier lives, and we specifically focus on “entry-level users,” helping them ease into the fitness world. Our goal is to have a family of apps that would alleviate all major pains for anyone trying to take better care of themselves. We are already one of the largest and fastest-growing health & fitness app publishers in the US, and are planning to take the top spot within the next three years. Currently, BetterMe has five apps available on both iOS and Android: BetterMe: Weight Loss Workouts BetterMe: Calm, Sleep, Meditation BetterMe: Yoga BetterMen: Workout Trainer BetterMe: Walking BetterMe’s health & fitness apps In total, our apps have 15 million downloads, growing at around one million downloads a month and bringing in tens of millions in revenue every year. We also have a very strong social media presence with around 5 million followers — the highest among all major health & fitness app publishers. I attribute this growth and success to our outstanding product, analytics and user acquisition teams. My personal story is also not very typical. BetterMe’s headquarters are in Ukraine, which boasts a healthy startup scene, but where the overwhelming majority of high-tech entrepreneurs are male. Since the early age, I had to persevere and study hard to get a scholarship to the top economics university in the country that allowed me to move from the remote town I was born in to Kyiv, the capital. Upon graduation, I was lucky to get into a large international FMCG corporation before making a switch to the startup world and taking BetterMe from an idea to a thriving business. Today, one of my ambitions is to set an example for other girls in Ukraine that they too can break stereotypes and build the companies of their dreams. I think establishing such role models is very important for my country. What motivated you to get started with your company? It all started nearly three years ago. I was an entrepreneurial 24-year-old and, along with my co-founder Vitaly Laptenok, worked at a large media publishing company — one of the top viral content producers in a variety of markets, including the UK and US. Genesis In over 10 years of active social media presence, Genesis has amassed billions of data points and has become incredibly successful at creating content for up-and-coming industries, gathering millions of likes and followers. An example of video that went viral on social media While working on viral campaigns at Genesis, Vitaly and I noticed the rapidly growing demand for high-quality health and fitness content. We researched the industry looking for numbers to back up the trend and found out that in the US are overweight now, and eight out of 10 will be by 2030. seven out of 10 people This will constitute a major problem for most families not only in the US but also in Europe and the world overall. In the US, medical expenses related to obesity already amount to , while the size of the whole health & fitness market is just around . $150 billion annually $170 billion We also found that the fitness app market has skyrocketed from virtually nothing to $500 million in just a few years. Going forward, a significant part of the larger fitness industry will migrate online, including mobile apps, which are the easiest and cheapest way to set up and track goals. In the end, we decided to capitalize on the opportunity by publishing our own workout app and monetizing it through timely and relevant content delivery via a subscription model. That’s how came about. The experiment has exceeded all our expectations, primarily due to creating content our audience wanted to see. BetterMe: Weight Loss Workouts What went into building the initial product? Throughout the process I was guided by Reid Hoffman’s quote, “If you’re not embarrassed by the first version of your product, you’ve launched too late.” So our path to MVP was quick, but not reckless. As our products target mass market, we had to consider how the functionality would be perceived by people who never exercised or meditated before. Which, conveniently, was nearly everyone on our small team at the time. So we hired professionals and gurus to design our workout, weight loss and relaxation programs, and then tested them ourselves, meditating and measuring our fitness progress on a daily basis. That shaped the apps’ essential features and also made obvious which ones we could do without. BetterMe team at Sri Lanka, looking for “zen” Tone of voice also proved to be important. For example, in our meditation app, we didn’t even use the word “meditation,” choosing more widely recognized phrases like “reduce stress” instead. The technical side of our apps was much more straightforward. So we made prototypes and quickly tested our hypotheses by leveraging the fitness traffic we had on our blog. Since then, we have been continuously tweaking our products to achieve better performance. We budgeted about three months to build MVPs for each of our ideas — all progressive apps. How have you attracted users and grown your company? Early on, my co-founder Vitaly, who is highly regarded for his ability to assemble brilliant high-tech teams, scouted out top media publishing professionals on the market, both in writing and video production. For example, our head of content is a graduate of Yale and a member of the American College of Sports Medicine. While today our team is over 70 stellar people who have created more than 100 highly customized meal and training plans, in the beginning, we were small and our ideas needed to be validated quickly. In fact, we started attracting users even before we had a product at all — just with the desire of making something fitness-related in hand, we launched a blog and wrote content for our cuctomers, relying on social media to drive traffic. When our intuition proved to be right and we had tens of thousands of people reading our guides and tips, ranging from chiseling your perfect abs to incorporating superfoods in your diet, we pulled the trigger and developed the first app. Our audience has been growing continuously since then. Right now we have over 5 million people following our content on social media, mostly Instagram and Facebook, which organically converts to about 20% of our total downloads. The pace of growth of BetterMe: WeighLoss app Contrary to the popular notion, we found carefully produced ads on social media to be extremely effective. Even with our sizeable following on social media, we wouldn’t be able to match the amount of paid traffic organically. We mostly promote our apps through branded videos set to significant reach, which also helps with brand awareness. A very important side note is that our paid ads bring profit, as we prefer to fail fast and cheap and double down only on things that show results. I have no doubt that if your product truly satisfies the need of a particular target audience, you can find them by offering digestible content via well-targeted ads. What’s your business model, and how have you grown your revenue? At the moment, we keep things simple — our business model completely relies on recurring monthly subscriptions through our apps. So we nurture our customer base of over 200,000 paying subscribers and are growing fast enough to hit one million in a few years. Keeping the source of our revenue straightforward allows us to easily experiment and see the direct influence on cashflow without unnecessarily complicating things with multiple tests at multiple price points at once and then spending resources to support that legacy work. Another important notion here is that we want to offer so much value to our customers that they would actually be happy to pay us in return. This acts as a never-ending reality check that keeps us on our toes. If people wouldn’t see the results from our programs they would stop paying. So far, I can see our customers telling us we are doing a good job. We receive hundreds of grateful messages and success stories, which for me is still a very humbling experience and frankly the best part of it all. The best part of being a CEO — watch how your users’ lives change for better What are your goals for the future? In thinking about the future, we always come back to our vision of creating a mind-body harmony among the general population. In the end, we want people to lead better and happier lives. Besides growing our customer base, I do have plans to expand into corporate wellness and personal training to diversify our revenue streams. Those ideas are still in early stages, but it’s also likely that we might get into other aspects of personal health, such as offering supplements. We are currently trying to zero in on our next big idea, but I can say that something new would come out very soon. On the more practical side, we have a goal of becoming a unicorn company and top health & fitness publisher in the next three years. My team will be able to do so by expanding our product offering from five apps to 10 or so in the future, capturing more and more of the $170 billion health & fitness market. What are the biggest challenges you’ve faced and obstacles you’ve overcome? If you had to start over, what would you do differently? Honestly, as a CEO, I encounter seemingly impossible challenges every week. In the health & fitness industry, it’s easy to rise fast on the wave of a trend, but also just as easy to fall when the fad is over. I learned this the hard way as, in the very beginning, we made quite a few mistakes by trying to create products that would compete for traffic and attention with other social networks and already existing solutions. In just 1 year before we launched BetterMe, we’d introduced BoredMan, a fun app targeted at men to kill some time, BeautyHub, for women, and FeedYourKid, a collection of food recipes for children. All of them lost money because they didn’t address immediate and important enough problems. With regards to challenges I have today, BetterMe is dependent on lots of external factors, such as social networks and their ever-changing algorithms, which influence the way we work and attract new users on a daily basis. Besides, managing a fast-growing company, you are always catching up, whether it’s hiring new team members or doing some way past-due paperwork. Sometimes it feels like you need to run as fast as you can just to stay in the same spot. But then you sit down and take time to think of new ways of doing something, and hope that it’s going to work out. And it usually does. Have you found anything particularly helpful or advantageous? I find that cultivating the right amount of energy and motivation tends to make things easier and better, especially if you also allow for enough time to recharge and reflect. Setting flexible goals that require me to jump over my head has always been a good motivator. I look at the top 10 companies by market cap and I ask myself whether I can create something similar? Can I create a truly global company within my lifetime? I know that market cap is just one metric, but it helps with goal setting. If we say there are medals in sports, then there is money in business. Other than that, I try to wind down regularly and read as much as I can — in the last year Ray Dalio’s has given me a lot of food for thought, pondering things like how do you structure your life and work so that everything grows in harmony. Principles On the listening side of things, by Reid Hoffman inspires me a lot. Actually, his new book is also a fantastic guide to turning your fledgling startup into a large enterprise. Masters of Scale Blitzscaling What’s your advice for entrepreneurs who are just starting out? If you can show that you can make something useful, that you can be trusted, that you have the necessary grit, you’ll do well. Remember that there is more money in the world than people who can grow it. Sharing my experience at the panel within Kyiv International Economic Forum Some people have money but no energy. And I think having energy is just as equally important as having money. Try to experiment and fail as much as you can early on so you know what works and what doesn’t. If you have the burning desire to create value, sooner or later you’ll make it happen, regardless of the exact path you take. Where can we go to learn more? When I started BetterMe, I did write a lot of our content myself. But over time, I delegated most of it to my team. That said, I recently started running my own Twitter account to get an occasional bit of inspiration and document my thoughts on what running a fast-growing startup is like from the inside. I’d love to answer any questions and help in any way I can there. Also, people can feel free to connect with me on . @RepaVictoria LinkedIn Other than that, I would recommend reading for ideas on how to make a step towards your better self today. BetterMe’s blog This interview is brought to you by , a tool to schedule and automatically repeat your posts on Facebook, Instagram, Twitter, Pinterest, LinkedIn, and Google My Business OneUp

Founder Interviews: Victoria Repa of BetterMe

Some time ago we started the (details ). The core idea was simple: to build a moderated list of 10,000 questions for anyone who wants to learn about the blockchain and cryptocurrency in general. 10KQA Challenge here Do you remember when you first started learning about something complex, but it was difficult to find the information you needed and you had a million questions? The easiest way to learn something is to just start asking questions and receiving answers. But it’s hard to ask about something that you are not familiar with. So that’s where 10KQA comes in. To be honest, things didn’t start out as fast as we expected (maybe because the core demand in the crypto niche decreased 5 times since December). Bitcoin’s value decreased and so most of people stopped asking questions :) But as we all know, blockchain technology has huge potential and it will not stop. During these past two weeks we met a lot of interesting people who are passionate about learning blockchain and crypto (if you want to join, just write in comments). So here are some interesting questions that we published this week. How can you assess the transparency of an ICO project? (Source here ) The best answer to this is a tool that you can use to check this. — provided a solution — . neufund.org ICO transparency monitor This tool is very simple to use, and it gets data from the blockchain and processes it through a 14 question questionnaire which helps answer the questions: Is this ICO transparent or not? It’s pretty interesting to see which questions it’s based on, and they can be accessed here What is a miner’s growth plan as difficulty adjusts? (source here )? , CEO of , shared his opinion in an interview for . Marco Streng Genesis Mining Moneycontrol He featured six factors that will help to keep profits when reward decreases and difficulty increases. Use economy of scale to keep costs low (mining farms across four different continents with Enigma). A highly streamlined supply chain of ASICS. Good deals with energy companies and focusing on using renewable energy. On Direct working with chip manufacturers. State-of-the-art mining farm management software called Genesis HIVE, which we have developed in-house. Multipool technology further boosts profitability for customers by switching between different coins, depending on their profitability. As you can see, the mining business has become quite high-tech, and it will be pretty hard for average user to start mining by themselves (without using a pool). Are there any differences in trading crypto as opposed to other asset classes? (source )? here Thanks to , these are five points on how it differs: John Hwang Unmitigated exposure to insider trading and pump and dump schemes. The lack of deposit or security insurance. Not backed by any revenue, asset, or business model. The constant risk of irreversible, permanent loss. The lack of price consistency across exchanges and order protection. So if you could think that your trading background will help you in understanding the core of the blockchain, you should also take into consideration that crypto is a whole new world where there are a lot of peculiar properties and risks that you should consider. The prices of cryptocurrencies are dropping fast. What should I do? (source )? here Of course, there is no right answer or solution here (and everything written bellow should not be considered as actionable investment advice, it is merely an opinion based on crypto community research). We found four main factors that help us stay calm in the fast-changing crypto market: Altcoin will exist for as long as Bitcoin survives. Bitcoin will survive even though altcoin may be dying. Analyze what is going on with Bitcoin and what is the trigger for this movement upward. If you did not find anything, we can assume it’s a bull trap, which mean that it is more than likely altcoin will get pumped. Many people lose their money because of their emotions. ust stay calm.if you can not do that, investing in the volatile crypto market might not be for you. Crypto trading it really risky business as we saw last month. The rule of thumb here is — never invest more than you could lose. What is more profitable: buying ICO tokens during an ICO or after the exchange entrance (source )? here This question has no precise answer. But one user has an interesting opinion: Bitcointalk It is hard to make a big profit from the ICO because the project has just started, and it needs to prove if the coin is good enough to survive in the exchange or not. I think buying later on the exchange is the best thing that we can do if we are afraid of losing, and we should determine how much money we want to use to buy the coin. But if we are really wanted to participate in the ICO, then we need to find information about the project and everything that will make us believe that the project will achieve success on the exchange. To join our challenge and get new updates, follow us on: Telegram: t.me/TENKQA Twitter: @howtotoken We will be appreciative of all participants, ideas, and discussions. I hope that we will all get something positive from the process and that unforgettable feeling of having a flow. We are also looking for moderators to join our challenge who will educate with us and search for new questions and answers regarding the blockchain and crypto in these categories: Core Blockchain Development Profits (trading, ICO, mining) Real Disruptive Models Laws and Regulations And check out our new feature “Blockchain Experts” here . These are the experts that we are reading and following within the blockchain niche. ** **👏 We need your claps to reach more people since this is a new publication. Please spread this story with a tweet, Facebook share, etc. About the author: — Founder of Geekforge.io and Howtotoken.com. Interviewing the top 10,000 worldwide experts who reveal the biggest issues on the way to technological singularity. Join my . Kirill Shilov #10kqachallenge: GeekForge Formula

Weekly Top 5 Questions About Making a Profit with Crypto — 10KQA Challenge

So the man gave names to all the livestock, the birds in the sky, and all the wild animals. But for Adam, no suitable partner was found. So the Lord God caused the man to fall into a deep sleep; and while he was sleeping, he took one of the man’s hands and placed an iPhone in it. ~ Not Genesis I might be misremembering my scripture a bit here, but you get the idea. The introduction of the iPhone was a pivotal moment in technological progress, a godsend some might say. The introduction of the iPhone 10 years ago brought Moore’s Law into the handheld age. is the observation that the number of transistors in an integrated circuit doubles about every two years, meaning faster computers. That statement, however, doesn’t mean much on its own. Economies of scale are needed to bring these improved speeds to the masses. Personal computers did the heavy lifting in the 80s and 90s, which drove more money into the R&D of chipmakers such as Intel. This in turn ensured that Moore’s Law kept apace. Beginning in 2007, the iPhone succeeded in miniaturizing the internals of computers even further. This is not to say there wasn’t already progress being made, but the iPhone acted as the economic forcing function necessary to accelerate computer miniaturization. Fast-forward to the present and the newest phones are powerful enough to create desktop-like experiences. Moore’s Law Beyond the gadfly that this was for the established phone industry, besides the revolution this made for communication and the Internet , and more than the new industry of apps birthed from this invention, the iPhone planted the seeds for every we are talking about today, 10 years after its introduction. next big thing This is how. Have you ever wondered how manages to ship over a year? It isn’t magic. It’s a globally connected economy sourcing computer chips, cameras, touch screens, and batteries. There is a lot of money to be had here. In 2007 after the original iPhone launch, the smartphone space became a proverbial gold mine. Naturally a glut of competitors rushed in to try and win large, lucrative deals from Apple, Samsung, and other phone makers. Some thrived, some went under. But the end result was incredible value production for end consumers. Apple 200 million iPhones The market drove prices down and effectively commoditized many components. To maintain profits, manufacturing companies were forced to innovate, making faster, more powerful, and less expensive components. Only the most innovative survived, and after the dust settled, the price of high-tech smart phone had fallen drastically while quality had increased. Now with processes in place, companies looked for other markets to sell their chips, cameras, and screens to. Luckily VR, IoT, and drone creators were right there to capitalize on the lowered cost, smaller footprint, and increased computer power technology All this innovation has led to a new breed of makers, hackers, DIYers. Think the computer hobbyist trend in Silicon Valley from back in the 1970s and 80s that led to Apple, except this time it is with smartphone tech. And instead of the U.S. it is happening in China, more specifically Shenzhen. This documentary is long, but the pertinent part is at the 1:01:37 mark. The commoditized smart phone tech shown allows makers to hack together Frankenstein-like devices. This is an extremely cheap way to work out the kinks in products. Once there is a spark, it’s all about refinement and go-to-market. The Apple of this movement? DJI. If you have seen a drone flying or watched video shot from a drone, chances are it was theirs. in 2006 with hacked together DIY drone frames and flight control systems in — you guessed it — Shenzhen. In 2016, they made $1.5 billion in revenue. DJI started And in the IoT smart home department, we all recognize this by now: Well it turns out that anyone with a little technical chops and some spare cash can build their own. The most valuable part of the echo isn’t unique or proprietary hardware it’s the software. _A while back we detailed how to make your own Amazon Echo device using a Raspberry Pi, but if anything went wrong with…_lifehacker.com The Simplest Way to Build A Raspberry Pi-Powered Amazon Echo Frankly, this is incredible news especially with Amazon opening up the Alexa API to 3rd party hardware makers, allowing integration with the Alexa ecosystem. This example perfectly illustrates how easy it is becoming to build usable IoT devices from a hardware perspective. Prices for components are cheap and simple enough that we can build the basis for an IoT company in our apartments. This access will ensure more people with less capital can engage in the tech economy. We all win from that. So all thanks be to God for giving us the iPhone — and I can’t really blame Adam for eating from the tree, when I get a new iPhone I have Apple on my mind all day too. follow on here or for more Matthew Biggins LinkedIn

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