Blockchain Technology and it’s Function

blockchain

Since it was first developed in 1991, the main purpose of the blockchain is to store data in a secure way. With its unique methods, this can be utilized in a variety of work industries as it enables sharing of information in a quick, accurate, and secure manner. To fully appreciate the idea of this technology, it is important to understand how it works.

The Blockchain Operation

The primary benefit of the blockchain is that saved information cannot be amended without documentation of the change being made. The blockchain is an open ledger that was developed to allow several users to have access to it. Each transaction in this system is recorded resulting in a “block” which includes all the details of the transaction. Most importantly, each member of the blockchain is required to authorize the transaction.

The process begins with a user requesting a transaction. The request is then sent to all the peer-to-peer network of computers and requires authentication of the transaction from all users using known algorithms. Following this, the transaction is merged with other transactions to form a block of data that is unalterable and permanently added once the transaction is completed. 

As a result, the blockchain is extremely secure. One wouldn’t have to hack only one computer to retrieve information; but instead, one must hack dozens of computers, all at the same time. 

Other Types of Blockchain Technology

Today, many people know about the blockchain as it relates to cryptocurrencies and NFTs. There are many more practical utilizations of the blockchain. Blockchain technology can be used in healthcare settings where health information should be kept private and without risk of security breaches. The blockchain would allow information to be shared more securely between healthcare providers with documentation of any changes or updates that may have been made on a patient’s medical record. Financial institutions can also benefit from this technology. It would result in quick and cheaper settlements while also providing privacy for customers, transparency, and reducing transaction costs. Voting locally, state-wide, and nationwide will benefit from the security of the blockchain as voting can be more accessible and fair, all while producing immediate, verifiable results. Any attempts to alter the the data will be recorded, ultimately regaining voters’ trust. Safety within the food industry can use the blockchain in order to track their food from its origin to its destination allowing the identification of any possible contaminants or other health issues that may have crossed its paths.

Prospective Features

As mentioned earlier, the technology cannot be altered without a record of it being changed; therefore, it can be applied across all work industries. From healthcare industries to automotive industries, blockchain technology allows for accurate tracking, cost reduction, and increased transparency. 

If you’re interested in finding out more about what today’s technology can potentially do for your company, speak to one of our IT professionals at AE Technology Group! Call us at (516) 536-5006 today.

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Future Technology in Today’s Workplace

two people wearing virtual headsets in an office setting

It’s fun to fantasize about the future of business, but what kind of technology can we realistically expect to make a difference in the way ordinary businesses function? Today, we hope to answer this question by examining three emerging technologies we think might make a splash in the business environment moving forward. 

Artificial Intelligence 

Artificial intelligence promises to be a major game-changer for businesses moving forward. Still, AI is not the most far-along technology out there, but as more businesses use it, the possibilities could expand. The idea here is that smarter technology will use machine learning to continue to learn and grow, leading businesses to focus more on operations and support. Still, despite many IT professionals cautioning users against its implementation, AI is not going anywhere; it’s here to stay, but it takes a certain implementation to bring about enough ROI to make it worthwhile. 

There are AI-fueled applications out there that have helped businesses overcome their operational inefficiencies, but the fact of the matter is that these applications have not yielded a significant return on investment––at least, not one comparable to the ones that smaller businesses need to justify such an investment. AI requires that the system be configured appropriately so as to increase value, and that value does not come cheap. Furthermore, AI systems also bring into question infrastructure and governance, both of which must be considered to adequately implement AI. 

The verdict: AI can provide significant growth potential, but it requires considerable investment to make it happen, and you must first determine how and where it fits into your business model before committing to it. Some applications you might consider implementing are a ChatBot software to help with customer support or cybersecurity tools that respond to the current threat landscape. 

Internet of Things 

Smart devices and Internet of Things devices are technologies that can be put to great use by small businesses. They can be used to hodgepodge together systems to improve efficiency and reduce costs, and the neat thing is that there are solutions out there that fit into just about any business model. Whether it’s a barcode scanner or a smart lock, businesses can use IoT devices for a variety of reasons and purposes. Plus, these devices can also collect data that can be used for assessment of operations!  

The IoT is expected to grow to 50 billion connected devices by 2025, so you can bet that the applications for these devices will only grow in scope and scale over time. While the connectedness is one of these devices’ greatest strengths, it’s also one of their greatest weaknesses, as they are known for having subpar data security and for sharing data a little too freely. You’ll want to invest in security if you want to use the IoT to your advantage. Thankfully, you can just give AE Technology a call for any of your security needs! 

Cloud Computing 

We know you’re probably sick to death of hearing about how the cloud can be transformative for your business, but it really is that important. Let us explain. The cloud gives your business the ability to fulfill just about any task in computing without investing massive sums of capital into your infrastructure. It can save you from purchasing application licenses, too. All it takes is paying a monthly fee to manage and maintain your cloud platform. 

While this is a technology that is actively being used, cloud computing is so dynamic that the ways businesses can utilize it are growing by the day. Plus, it is becoming increasingly more cost-effective to use the cloud for these purposes. We recommend that you monitor your cloud usage so that you don’t accidentally wind up over-utilizing (or underutilizing) your cloud resources. 

If you want some help with bringing your technology infrastructure into the future, AE Technology can help. To learn more, reach out to us at (516) 536-5006. 

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4 Technology Innovations on Common Devices Found in Most Businesses

Attractive woman scientist with tablet in hands

There are thousands of pieces of technology available that accomplish something positive for your business. Whether they are communications tools that help your team collaborate and build a better client-support system, gadgets, and software to help streamline your team’s ability to get work done, or devices to help advance the company’s mobile strategies, considering what you can do with technology innovations is a responsibility of a forward-looking executive or small business owner.

Today, we thought we would introduce you to some remarkable technologies that are being built that could benefit your business in the future.

Hushme

Hushme may look intimidating, but it really could be helpful for businesses that depend on phone calls and don’t have a lot of space. The device wraps around the user’s head and covers their mouth like a muzzle. There are noise-canceling headphones attached. Once the device is on, the user can talk into it, and no one can hear a sound.

It isn’t too difficult to imagine the practical application for a device like this. You get the privacy you’d want, even if you talk in a busy, bustling environment.

Epson Paperlab

If your business uses a lot of paper or handles a lot of sensitive information, the shredder often works overtime. Well, the printing professionals at Epson have developed a machine that is effectively the first in-office paper recycler. Using this technology, a company can not only destroy sensitive information, but it can also take all the waste paper that it has and recycle it in-house.

It works because once wastepaper is put into the machine, it is defiberized, removing traces of all information and color. At this point, the fibers are formed under pressure back into sheets of paper. The machine then cuts the paper to specification, and you have recycled paper.

XGIMI Projectors

Many offices have some projector they use to broadcast information, but a company named XGIMI has begun to take the technology of projectors to the next level. The company has several innovative new devices that do several unique things. Some devices broadcast 4K video, some fit in the palm of your hand, and one even has theater-grade sound built right into the projector unit.

XEBEC Tri-Screen 2

A lot of people prefer their laptop to a bulky desktop computer. The problem is that sometimes there isn’t enough screen real estate while you are on the go to do all the things you need to do as effectively as you need to do them. WIth XEBEC’s Tri-Screen 2, you can add two fully-functional screens to your laptop. All you need to do is hook the device into your computer, and you now have a fully-functional, multi-screen workstation anywhere you go.

 

These technologies are all over the map on cost, but there is no denying that they can have some pretty exciting results for the people willing to invest. What do you think of these technology innovations? Do you know any cool tech that businesses may consider down the road? Leave your comments below and check back regularly for more great technology suggestions.