How Blockchain Technology Could Make Internet Applications Faster, Smarter, & Less Expensive

How Blockchain Technology Could Make Internet Applications Faster, Smarter, & Less Expensive

There's been a lot of talk about the wonders of blockchain in the last few years. The concept of "this thing… but with Blockchain" is the new "this thing... but with a computer" when it comes to squatting on patents. Would-be inventors are theorizing that almost anything is better with blockchain, and to an extent they are right.  The security, trust and distributed aspects of blockchain make it a potentially effective way to solve a lot of problems.

Decentralization is Key

The thing that makes blockchain such a promising concept is the idea of decentralization. Traditional, monolithic computer server structures are useful for smaller scale apps where it is vital that one server or party has control. As the number of users increases, however, it becomes harder for one single server to do a good job and that is where blockchain comes in.

With blockchain, several other servers or apps also contribute their processing power. The distributed ledger that is associated with blockchain and the way that all the other parties involved in the processing of the transaction are expected to sign off on each transaction, means that it is much harder to hack or fake what is going on.

Even mobile applications are ...


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The Link Between Big Data and Fraud Prevention in the Financial Sector

The Link Between Big Data and Fraud Prevention in the Financial Sector

Even though digital technologies have done a lot to improve our overall financial situation, and to provide people with better, more convenient access to a number of different services and resources, the sad reality of today is that technological advancements also tend to bring about increased levels of fraud.

It’s not hard to see why, either – honest people aren’t the only ones who benefit from such developments, and in fact, those who have the willingness to try breaking the system can often find themselves in a much better position to take advantage of its flaws.

However, things aren’t that bad in general terms. Technological progress has also made it possible – and quite easy in some cases – to deal with fraud and to increase the level of confidence that customers have in the systems they are working with. We still have some way to go until we’re at a point where things can run truly smoothly, but at least we’re moving in the right direction. We have Big Data to thank for that to a large extent, and its implications today are not to be underestimated.

Analytics Can Reveal Hidden Patterns

It’s impossible for humans to maintain a full overview of any ...


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How AI Is Changing the State of Insurance

How AI Is Changing the State of Insurance

AI technology is having a huge impact on the current state of insurance in many parts of the world, not just the most developed ones but even smaller countries with fewer resources. Just a decade from now, the landscape could look completely different, and the way insurance services are carried out for individuals may seem very unusual to the people of today. There is some innovation in the insurance industry is going to work not too long from now, although there are also some worrying trends on the horizon that will hopefully not materialize.

Customized Rates for Everyone

Insurance companies are already trying to push for individualized treatment of their policies for all of their customers, and AI technology is only going to make this process simpler and more straightforward, not to mention less judgmental. Assigning individual policies that not only make sense but also don’t seem discriminatory, is still a major issue in the work of all insurance companies. When this process is handled by AI algorithms instead of real people, the impression that certain decisions are being made based on factors like skin color or gender will likely go away.

Dynamic Adjustments Based on Environmental Factors

We may even get to a point where ...


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