BizTech

Business and Technology News from NUS

Month: July 2019

Cryptocurrency Going Forward into Digital Era

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This year, the now globally-renowned concept of cryptocurrency officially turns ten. While cryptocurrency has been around for a little longer than a decade, it was ten years ago that it first became a mainstream sensation. At its core, cryptocurrency is a notion that has introduced a world of innovation and enhancement, but it has not come without its challenges. In this modern world, technological advancement is not a foreign concept, but the decentralisation of currency is still relatively fresh. 

Today, cryptocurrency continues to evolve and expand as a modern innovation. This is a world where we are immersed in and surrounded by rapid digitalisation and technological advancement. We have created this world to be everything that it is, so it makes perfect sense that it is a world that is encouraging and investing in the digitalisation of many of its marking foundations, including (but not limited to) the decentralisation of currency.

Understanding the power of cryptocurrency

Put simply, cryptocurrency refers to the decentralisation of currency. Cryptocurrency is essentially a form of currency trade that takes place entirely over the virtual landscape. This removes the need for third party middlemen (i.e. banks and the like) to have any role in financial transactions. It helps to speed up the process, which is a notion that bank users have been battling with for years now.

The decentralised nature of cryptocurrencies make them a genuine contender for the “future of currency”. It can be overwhelming to understand, and websites like ICO Toplist are thankfully there to help unravel the intricacies of this (still relatively fresh) innovation in the international financial industry.

Why currency is set to decentralise entirely

Cryptocurrency has faced its fair share of trials and tribulations, having only recently begun to emerge from the dark woods. The decentralisation of currency is the future for one simple reason: the modern world is changing. With every passing day, we move steadily more and more towards a digital future. 

Every aspect of modern world is being exceedingly paved with digitalisation and technological proficiency, and the same is – and will continue to – happening in financial currencies and the way we handle them. To keep up with the way of the evolving modern world, currency must adapt. So, cryptocurrency continues to decentralise the financial sector, piece by piece.

Just the beginning for cryptocurrency

Millennials are definitively a driving force in the growing popularity of cryptocurrency. This is a generation that has grown up immersed in and surrounded by technological advancement, and they expect that same convenience and efficiency to be a prominent force in every aspect of their lives. This is especially true in the financial aspect of their lives.

Cryptocurrency has found its footing resting on the shoulders of a generation that are more than up to the task of lifting it to its potential, and helping it to elevate further and higher, on an ongoing basis. This is just the beginning for cryptocurrency, and it is a wild start to what is poised to be an exciting digital revolution.

Advances in Woodworking Technology

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Woodwork and carpentry have been around almost as long as humans have. It’s an industry that for many years barely saw any real noteworthy advancements in its technology. Many of the common tools and processes that were used were older than the people using them. The astounding boom in technology in the last few years however, has changed all of this. We are now starting to see incredible new technology for woodwork that is revolutionising the most intrinsic aspects of the craft and industry at large. Let’s take a closer look at some of these advancements and their implications.

  1. Processing

One of the key aspects in wood processing is treatment and preservation processes. Much of the wood we use is not, in its natural state, capable of lasting very long under strenuous conditions or when exposed to water. Traditionally treatments and preservers such as creosote, arsenic, and different chemical pesticides have been used to protect wood from the elements, fungi, pests, and other threatening conditions. The biggest problem with most of these is their blatant threat to the environment. Many of these preservers and treatments are also dangerous to humans. Many governments around the world are cracking down quite seriously on these products and it wouldn’t be far-fetched to assume most of them will be banned globally in the near future.

Cue the good news. Technological advancements recently have opened up the doors to many new current and future solutions to the need for preservation and treatment. Solvent and emulsion based solutions have come a very long way thanks to new technology. And better solutions are still in the pipeline.

There is a large amount of research going in to natural and bio-organic repellents that would serve as a natural alternative to our current man-made repellents. There is also much research underway to investigate alternatives such as the use of resin, chemically changing wood to become hydrophobic, combining common weaker wood with more durable wood, and even genetic manipulation.

  1. Drying

Drying wood is an obvious need which, in previous years was limited in its array of viable method options. In recent years technology has allowed us to move from the slow and tedious method that utilised the kiln, to faster high-temp drying solutions. These new solutions are aimed at weaker, softer wood with a lower moisture content and are far superior to the old kiln.

For dense and hard wood, developments are currently being made to allow high frequency and vacuum heating. Hard or dense wood takes much longer to dry and these developments open a whole new range of methods to accommodate this.

  1. Composite and Reconstituted Wood Developments

The advancement and availability of new technology has had a very positive impact on wood composites that are used worldwide for single piece boards and other composite applications. We are now able to use offcuts, and other previously useless by-products to create composite wooden boards. This allows the wood in a single tree to go far further and cuts costs in many areas of production. It’s also worthwhile to mention that the combining of plastic and unused sawdust has paved the way for more durable composite materials.

  1. Glues and Coats

 In recent years the industry has had to come to the hard realisation that many of the chemicals used in the production of glue are in fact hazardous. Low-formyl product development was the response to this realisation and has seen a successful replacement of many dangerous glues with better, safer and more various glue products.

Coating wood, be it with a varnish or paint, is a necessity we are all familiar with. Previously the industry grappled with this due to the problems that accompany organic solvent based solutions. Recently however, technology has made it possible to greatly improve and capitalize on the use of water based and dry based products. We have also seen a longer lifespan added to coats by way of anti-UV additives. 

  1. Sawmilling and Related Machinery

Sawmills are responsible for the processing of wood from its most raw unprocessed form into usable pre-specified cuts of wood such as planks or poles. This is where the quality and cut of the wood is decided and checked. Recent developments in technology have introduced the use of sensors, infrared, and other types of scanners that can assess the quality of the wood, its hidden defects, and even its moisture content. This allows for a much faster rate of production as quality control has become a data-specific science instead of general judgement and estimation.

In addition, the introduction of computer guided tools and benches allows for a much greater yield from the same piece of timber. The more precise the cutting, the more usable wood is salvaged from a timber unit.

  1. Power Tools

It’s important that we do not take for granted the electrification of woodworking tools. While this may not be a particularly recent development, it remains the most revolutionary. Power tools have essentially shaved off as much as 8 tenths of the required manual labour. As such production time, versatility, and precision have been made possible in ways previously not dreamt of. You can visit this website to know more about these tools.

  1. Advanced Mechanical Saws

Speaking of revolutionary tools, let’s give the mechanical table saw the credit it deserves. Before this loved piece of equipment existed, potential cuts, designs and crosscuts were limited to what a carpenter could do with his bare hands. Advanced woodworking projects were for the most part, a dream. This staple woodworking tool opened up a whole new world of precision, design, and cutting. Almost anything your mind can think up in the workshop can be accomplished with a mechanical table saw. Add computer software to that, and you aren’t even doing the work.

  1. Availability of Raw Materials

Not every specie of wood grows in every country on earth. As such, in times gone by, people would have to use whatever they could cultivate locally. This put limits on what could be made as well as how creative one could potentially be in the workshop. Advances in the world of logistics and shipping have made it both possible and quite affordable to source whatever species of wood you seek from wherever in the world it’s grown. This is another somewhat underrated revolution that has had a massively positive impact on the woodworking industry.

  1. CNC Machines

A CNC machine or, “computer numeric control” machine, is a flagship piece of technology when talking about recent advances. A CNC machine allows you to put in very precise numeric values into the computer and have the entire cutting process be conducted and precisely guided by that computer. This eliminates failed cut attempts, time wastage, and labour. It also promises a level of precision we as humans simply cannot accomplish by hand.

  1. The Internet and Easy Communication

The availability of forums, tutorials, peer sites, and the like on the internet, which provide access to learning and being exposed to new and advanced woodworking techniques, has also revolutionised the woodworking industry. Knowledge is power, and knowledge is so much easier to acquire with the use of the net. The availability of instant communication mediums where one can quickly consult a friend or professional for advanced woodworking tips, advise on tools, etc., has also made quite the difference. 

  1. Other Noteworthy Advancements

The above mentioned are but a few of the many advanced woodworking developments that are reshaping and improving the industry. There are many other advances such as that in the world of prefabrication, which have a major role to play in the future of the industry. There are also simple advances that still make all the difference, such as improved composite blades and cutters that make work smoother, easier, and more aesthetically pleasing. The problem of dust and sawdust collection has even been greatly improved on due to advances in vacuums and filters designed for greater efficiency. Many studies are also going on to make woodworking a safe and hazard-free task. Trust me, the list goes on.

Conclusion

Technology and its advances in recent years have clearly had a very profound impact on woodworking, from the most humble hobbyist through to the biggest international companies. New woodworking technology is fast becoming common place and it is safe to say that as research and developments gain momentum, we are set to see and enjoy ever-improving tools, methods, and woodworking technology.

Web Technology Essential for Boosting Businesses Growth

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Computers and web make the human life easy. It is fairly easy to procure the desired result from a computer. However, the language with which computers communicate with each other is highly complex and intricate. They require a series of codes in languages such as HTML, Java, COBOL, etc. The request procured by a computer is accepted in the form of binary codes. The system then processes the data within a minuscule of a second, gives feedback in the form of binary code, which is then visible to us on the monitor in the same way our request was taken in. This method with which computers communicate with each other is known as web technology. 

Through the years, the area of web technology has seen a dramatic development. With the increased access to technology and its widespread use, web technology as a stream has seen a lot of focus on its continual development and transformation as per user interface. A lot of agencies like web design Birmingham study online behavioural pattern depicted by users in order to adapt to and cater to the users in a more centred manner. 

Almost none of the fields can do entirely without the use of web design in some or the other facet of their business. Web design has increasingly and easily formed the crux of the marketing agenda of a business. With the wide use of the web by consumers to research, compare, analyze and purchase products, with the high popularity garnered by e-commerce and e-trade, it has led to web technology becoming a larger area of focus for companies that have started or are maintaining their marketplace. In today’s competitive business world, a company’s marketing plan that involves promotions on the web along with quality management the main reason of survival. 

A strong base in incorporating web technology into one’s business or the lack of which can either make or break the business model in the contemporary world. This, however, should also be coupled with customer satisfaction by means of good delivery and excellent product quality. It really is of no use to create enormous hype on a product but it ends up disappointing the customer with its quality and/or treatment provided by the company. 

The most important aspect of incorporating a web module into a business is to chart a path the business entity envisions to transcend. Nothing is worse than action without a plan. It is also known through customer polls and research on online customer activity; websites with more user interaction register more traffic and sales. There are many digital agencies that are equipped with providing data that can shed light in the realm of customer preferences and behaviour which will further help to enhance and plan once web agenda. An appealing web design together with the incorporation of motion graphics, aesthetic typography, background music, 3D animation, etc. are some ways to respect more user interaction and traffic on one’s website. Web technology thus gives a necessary boost to a business structure when used effectively.

Finance Industry Revitalised by Technological Advancement

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The modern world that we have come to know and love is positively immersed in, and surrounded by, feats of digitalisation and technological advancement. We have created a world that is exactly as we wanted it to be, and there is much to be said about how that world is continuing to evolve and further transform. All industries, from education and healthcare, to business and finance, have felt the keen sting of technological revitalisation in recent years.

In the case of the global finance industry, technological innovation is still being felt. In fact, this is one of the core industries in all the world, and it is being transformed in perhaps the most important of ways. As the financial backbone of societies the world over, this should come as little surprise. What is even more exciting than the current events happening in finance, however, is the realisation that this is only the beginning of what is likely to be a very exciting modern transformation into the digital future we are barrelling towards.

How technology is revolutionising finance

Technology has been working its way into the world for some time now, but it has recently kicked into high gear, becoming bolder, better, faster, stronger, all the time. The finance industry has always been data-driven, and so it comes as no surprise that this is a field that is beginning to feel the weight of technological absolution. In fact, finance is arguably feeling the impact more than any other industry. It has started with the automation of tedious, time-consuming processes like loan applications and international transfers between different banks, but this is just the beginning of the technological iteration in finance.

There is still much to be done

Currently, technological influence is causing ripples in the finance sector, but as we continue to move forward, those ripples will continue to surge into higher movements, evolving into full-scale waves over time and completely transforming the entire industry from the inside out. While facets of finance like the process to consolidate debts, or the ability to carry through other sensitive financial processes are still very much human-driven, there is every chance that this will not be the case in the near-future and onwards. The best is yet to come.

The future of finance and technology

Going forward, technological advancement and rapid digitalisation is likely to only continue, and the finance industry that we know today is likely to bloom and flourish further until it evolves into one that is only somewhat (if at all) recognisable. The future is digital, and all industries – including, and especially, finance – are going to be remoulded until they are reminiscent of the same. In a world where we are surrounded by technology, there is a kind of hopeful promise in the fact that life is only going to become more convenient, more efficient, more exciting. The best is yet to come, and we are lucky to see the world – and industries like finance – evolve as they are. 

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