Blockchain, Cognitive Computing To Drive Cloud
Technology gives immense benefits by itself, but when offered in combination they create miracles. Cloud when served with the bests of Blockchain, Cognitive Computing and Serverless Cloud Computing, leave businesses with no options but to taste wondrous success. That’s what a new breed of researchers believe. Let us see how these technologies can benefit individuals, businesses, governments and the society at large in the current year and beyond.
Blockchain technology was developed to reinforce digital currency bitcoin, and is considered the most efficient technology against cyber fraud that allows financial transactions to be verified electronically over a network of computers.
Alex Tapscott in a Forbes report explains, blockchain is a vast, global distributed ledger or database running on millions of devices and open to anyone, where not just information but anything of value –like money and units of energy - can be moved and stored securely and privately peer to peer, and where trust is established, not by powerful intermediaries like banks, governments and technology companies, but rather through mass collaboration and clever code.
A recent report by World Economic Forum (WEF) shows that 80 percent of banks are predicted to start blockchain projects by 2017 and $1.4 billion has been invested into the technology over the past three years. 90 central banks are looking at the technology. (Click here to read more)
Cloud technologies are the forerunners to blockchain. It has been observed that private blockchain networks can run in secure cloud environments. There have been test collaborations between Google’s cloud services, IBM, Microsoft and Amazon and researchers believe these cloud services could play a role in blockchain deployments.
Data is increasing at an exponential rate. All the work that we do in our day to day lives, be it professional or domestic, gives rise to a sea of data. Infact, it is growing faster than we can actually take cognizance of.
Sometimes organizations (vendors) produce innumerable documents each year where you cannot gage into the “dark data”- (Gartner describes dark data as “information assets that organizations collect, process and store in the course of their regular business activity, but generally fail to use for other purposes). The methods they use to store and analyze their data are many but fragmented. Offerings from vendor who brings together storage, search, governance, recovery and security into a unified platform is the way forward for successful business.
Cognitive systems, carried through the cloud are demystifying these “dark data.” Cognitive computing is the replication of human potential of reasoning in a computerized model. It comprises self-learning systems that use data mining, decision making and natural language translation and processing the way human brain does.
Servers, storage and software which are hosted around hybrid cloud is shifting towards cognitive solutions. In 2017, all industry sections including BFSI, retail, supply chain, healthcare and others will experience new transformation by implementation of cognitive solutions delivered through the cloud.
There are myths that cloud computing is inherently less secure than traditional approaches. The paranoia is due largely to the fact that the approach itself feels insecure, with your data stored on servers and systems you don’t own or control. Despite the chaos, enterprises are adopting cloud computing over traditional IT in a big way - whether they want to or not.
Nonetheless, we have seen that in recent years, several industry verticals incurred loss due to cyber-attacks. Major IT breaches were also witnessed which hugely affected the public, government, businesses and other organizations. Even as we are moving towards cloud with lofty steps, security concerns are very much pertinent. While the threat cannot be overlooked, cloud providers are aggressively working towards ensuring a safe and secure cloud offering.
This year, cognitive capabilities will solve many problems related to security threats and establish a more alert decision making. It will also ease out the complexity and reduce cost while marring cybercrime.
Serverless Cloud Computing:
Serverless computing also known as function as a service (FaaS) does not actually run codes without servers as the name suggests, what is does is, it makes running of apps completely invisible. Upsurge in the IoT and Mobile application is fueling advancement of severless computing. This year business will gain from this technology as will significantly reduce time and cost among many of its other benefits.
The year 2017 will see a lot more cloud activity. This will bring in more innovations to do business better. Blockchain, serverless computing and cognitive computing will invariably stimulate cloud this year.
- Enterprise, Cloud Focus Driving Veeam India's Revenue Base
- CIOs Coming To Terms With Fear Of Cloud Security
- TCS Embarks On Restructuring With Digital Technology
- Service Automation: Key To Enhance User Experience
- There's Huge Opportunity In India Market To Win: Webscale CEO
- In 2017, Data and Analytics To Go Mainstream
- Avaya Will Continue To Bet Big On SMBs, Digital India
- Banks Should Look At Blockchain With Security Lens: EY
- 3 Ways Fintech Is Disrupting The Indian Lending Space
- What’s In Store For IT Cos And Startups In 2017?