Will Digital Money Ever Grow Up?

What is digital money or "cryptocurrency", you may only know by the name "BitCoin"?

Here is a definition:

• a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Money is ... complicated and has always been managed by the government of the country issuing the money.  Since the Bretton Woods agreement following World War II the United States Dollar has been the preferred money of the world, though it doesn't replace the local currency (yes that is a simplified statement).

What about money that knows no political boundaries?

Enter cryptocurrency, one example of which is the widely known "BitCoin".

This is a very immature technology that has enormous potential ramifications.  The power of this tech is growing.  With that growth and its impact it has gained the attention of law enforcement.

Here is the full story:

https://www.technologyreview.com/s/612147/new-yorks-damning-report-on-crypto-exchanges-will-be-good-for-the-industry/

Here is a snippet from the piece:

A fight is brewing over the future of the cryptocurrency exchange, and its outcome will figure prominently in how the industry evolves. On one side are the purists, who believe that crypto exchanges—the on- and off-ramps between the world of crypto and the traditional financial system—can and should remain free of government meddling. On the other side are government regulators, charged with protecting investors from fraud.

This week the New York attorney general’s office landed a powerful blow in favor of the regulators, with a new report that illuminates the shadowy inner workings of 10 popular cryptocurrency exchanges.

It kind of sounds like the inmates are running the asylum so to speak, for now.  If cryptocurrencies are going to grow up they'll need more adults in the room.

Happy Reading,

J.W. Gant

Virtual Reality Entertainment in Your Mall

We have all heard a bit about VR, virtual reality, or maybe even AR, augmented reality.

VR.  You know?  Those goofy looking people wearing some crazy futuristic headset and acting like they don't know what's happening in the real world?

Yes that.

Or "Ready Player One" as Steven Spielberg's film showed us (I do not recommend that movie, really a waste of time).

What I wasn't prepared for was a VR entertainment ride in the mall.

Here is a picture of me, on the right, taking the ride for a ... spin.

What I also was not prepared for was what the physical effect of the "ride" portion would have on me when married to the Virtual Reality headset.  Wow!  Complete immersion!

Now, I'm no fan of roller coasters as I've hardly ever ridden them and haven't built up a tolerance to their behavior.  I'm up for the Goofy ride at Disney World but not much more.  I figured, its VR, it isn't real, why not try a big roller coaster for my first ride.

No way!  I immediately panicked!  Had to take the head set off quickly and just move on.

Really?  Yes, it had that much of an impact.  I closed my eyes and chanted "It's not real.  It's not real. It's not real."  Then just gave up.  My next attempt I parachuted in to Normandy on D-Day in 1944. That was much better for me as the physical ride didn't have the same impact.

Bottom line, as I've known for years, if you haven't tried VR you just have NO IDEA what it is like.  This is going to be HUGE.  Movies.  Games.  You name it.

Here is the website for a company like the one I experienced in Boston:

http://www.vr360adventures.com/about-us/

Happy Reading,

J.W. Gant

Apple's New Products 2018

Yawn.

Yes, I've been saying that for years now.  I'm a week removed from the product launch event and still haven't posted anything.

A new iPhone.

A new iPad?

A new iWatch err, I mean, Apple Watch.

This is the result of maturation of the product line and therefore isn't really newsworthy any more.  That is all fine.  Really.

Here we go:

iPhone Alphabet Soup

Who in the world came up with their naming convention for this lineup?  Last year we went from the iPhone 7 and iPhone 8 to the ... iPhone X.  Heh.  So clever (I have one and it is fantastic).  So where to go now?

The iPhone XS
The iPhone XS Max
The iPhone XR

What? Yeah.  A bigger option.  A cheaper option.  30 minutes more battery life! Faster! Fine. 

"Hey Joe, is that the new iPhone?"

"Yeap!  I love it.  This one is the "ten ess MAX".

"Huh? You mean the X S Max right?"

"Huh?"

Apple Watch Series 4

My Series 1 watch just had a issue.  The watch face, the screen of the tiny computer on my watch, just went flying off during a workout.  I'm on standby considering my options.  Apparently the early batteries had an issue where some would gradually enlarge.  Apple was even forced to increase the warranty from 1 to 3 years.  Mine is 3 and 1/2 years old.  Mmmhmmm.

The Series 4 has a bigger flatter screen and more rounded edges.  Okay.

Here is an article on this subject that provides some details I did not:

https://www.recode.net/2018/9/12/17850362/apple-iphone-xs-event-apple-watch-series-4-airpods

Some reports indicate Apple will announce new iPad and Mac devices later:

https://www.forbes.com/sites/brookecrothers/2018/09/15/up-next-for-apple-2018-macbook-air-new-ipad-pro/#5070fa843e26

Happy Reading,

J.W. Gant

Doctors, AI, the Information Age, and You

Quick.

You have a situation.  There are a set of measurable indicators the most common of which are easy to take.  Various levels or markers of each measurement point to a likely culprit and solution. The size of the data set that must be factored in is enormous, well beyond the ability of the human mind to hold all at once.

How should this be handled?

If this isn't the perfect situation for computers and Artificial Intelligence I don't know what is.

Are we talking about Amazon.com and their amazing ability to mine datasets to sell more stuff to you?  Or are we talking about medicine?

I was an Emergency Room medic in another lifetime with the United States Air Force so I have some understanding of this.  I've been a believer for many years that we need far more computer algorithm medicine and far less human emotion involved.  I've seen it first hand.  That is the premise of this article. 

Here is a snippet from the piece:

Former Google China president Kai-Fu Lee is betting heavily on artificial intelligence...
“If we look at what AI cannot do, there are really two main things,” Lee said on the latest episode of Recode Decode, hosted by Kara Swisher. “One is creative jobs. Jobs like scientists, storytellers, artists and so on. And the other are the compassionate people who really have created a human-to-human connection, trust.”

And what about the jobs that require low creativity and compassion?

“All those jobs will be taken by AI,” he said.

Here is the full article:

https://www.recode.net/2018/9/17/17867990/kai-fu-lee-ai-superpowers-book-artificial-intelligence-jobs-doctors-kara-swisher-decode-podcast

Will the IBM Watson doctors be there for your next medical appointment?  Not yet.

Happy Reading,

J.W. Gant

Facebook and Democracy 2018 Edition

The unfortunate news related to this story is I'm only going to touch on Facebook and democracy in the United States in 2018.  The reality is Facebook is having a profound impact globally and we are really only just beginning to understand the impact.

Here is a piece about what Facebook is doing to protect the looking midterm elections in the United States, just 49 days away:

Two weeks ago, on a hastily scheduled conference call with journalists, Facebook executives announced what many felt was inevitable: Someone, perhaps Russia, was once again trying to use the social network to “sow division” among U.S. voters, this time before November’s midterm elections.

The “bad actors,” as Facebook called them, created bogus events; posted about race issues, fascism, and President Donald Trump; and paid Facebook to promote their messages. “Some of the activity is consistent with what we saw from the IRA before and after the 2016 elections,” Facebook’s head of cybersecurity policy wrote in a blog post, referring to the Internet Research Agency, a Kremlin-backed online troll farm.

That activity, of course, may have altered a U.S. election, and sent Facebook and CEO Mark Zuckerberg down a path of self-reflection that has changed Facebook’s strategy, as well as its mission.

Here is a snippet from the piece:

https://www.recode.net/2018/8/17/17686252/facebook-2018-midterm-election-plan-russia

How is technology changing the human condition? How is it impacting democracy?  I've written a bit about our entry in to the Information Age and I feel a white paper coming out of it.  I'm sure I'll write more about this subject.

Happy Voting,

J.W. Gant

The New iOS for your iPhone and iPad

iOS 12 is out now and once again Apple is playing catchup with its hardware.

The hardware in their mobile line is 2nd to none in most areas but the software behind it lags year after year. 

The first two paragraphs in this story tells quite a bit:

Apple's iOS 12 software update is available today for supported iPhone, iPad, and iPod touch devices, and on the surface, it looks like one of the smallest new iOS releases Apple has pushed out.

This isn't a surprise; Apple said earlier this year that iOS 12 would be more about performance and stability than adding new features. Some major additions that were originally planned—like an overhauled home screen—were reportedly delayed to a later release.

Here is the full story:

https://arstechnica.com/gadgets/2018/09/ios-12-thoroughly-reviewed/

Happy Reading,

J.W. Gant

Mobile Driving Retail

The trend is strong and continuing.  Mobile interactions with customers is increasingly at the heart of the digital relationship between retailers and their customers.

Here is a snippet from the piece:

Holiday sales are set to grow 13% this year over 2017, with mobile devices pushing 68% of e-commerce visits and 46% of orders, according to a new report from Salesforce. The cloud computing firm estimates artificial intelligence (AI)-based product recommendations will account for 35% of revenue.

Here is the full story:

https://www.retaildive.com/news/mobile-to-drive-68-of-holiday-e-commerce-traffic/532468/

Happy Reading,

J.W. Gant

Are You Willing to Pay More for Your iPhone?

...and more ...

...and more ...

How did they do it?  How did Apple get us to pay more for our iPhones?

The most recent line of phones has one that finally topped $1000.  That's the price of a pretty good television and folks are lining up to pay that for a tiny computer your carry in your pocket.

Here is a snippet from the piece:

"Apple has been intentionally testing the price elasticity of its products in the past few years, and what it found is customers have an appetite for more expensive iPhones," said Wayne Lam, an analyst at IHS Markit.

The iPhone XS, which replaces the similar iPhone X, keeps the $999 price tag but is now in the middle of the new X-branded line, not on top.

Here is the full story:

https://money.cnn.com/2018/09/13/technology/apple-iphone-prices/index.html

Happy Reading,

J.W. Gant

BRotD - Entry 0264 Grocery App Usage Increase

Best Reading of the Day

Forbes.com has a great piece out about mobile apps and supermarkets.  That's something I know a little bit about as I led an effort for 3 years in that space.  They predict the apps will see a 50% increase in usage.  That is something else I know a little about having written a few papers on the subject.

Here is a snippet from the piece:

When the fridge is empty, and you are too tired to put on real clothes to go shopping, reaching for the phone to use a grocery app is an easy solution. You are not alone when you do this. According to a study from eMarketer, grocery app usage will grow by 50% this year, and 18 million Americans will order food this way. However, brick-and-mortar grocery stores are not going away and can take advantage of this industry shift.

Here is the whole story:

https://www.forbes.com/sites/lanabandoim/2018/09/11/grocery-app-usage-will-grow-by-50-what-this-means-for-the-industry/#752a389164dd

Happy Reading,

J.W. Gant