By Sander Klous
This ebook demonstrates the inevitability of a always turning out to be function of knowledge in our society and it stresses that this function doesn't must be threatening: on the contrary, assortment and research of information will help us hinder site visitors jams, suppress epidemics, or produce tailor made drugs. The authors caricature the contours of a brand new details society, within which every thing might be measured from our heartbeat in the course of our morning run to the song we take heed to and our strolling styles via shops and so they speak about the resistances in the society that experience to be overcome.
Sander Klous holds a PhD in excessive power Physics and contributed to the invention of the Higgs boson at CERN (Nobel prize 2013). Klous works at KPMG and is professor in massive info on the college of Amsterdam.
Nart Wielaard is a self-employed advisor and enterprise author. He develops compelling and transparent tales on advanced issues for a huge diversity of consumers. Wielaard makes a speciality of the area the place expertise, society and enterprise meet.
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Extra resources for We are Big Data: The Future of the Information Society
In its simplest form, this is possible because every user participates in checking the transaction. Every user has his or her own overview, on his or her own computer or smartphone, of all the transactions between all the other users. This database of transactions is known as the blockchain and all these overviews collectively constitute the control mechanism for each transaction,5 providing a shared ledger. In other words, it is possible to do reliable business in a system where there are unreliable partners!
For example, Santander, the Spanish Banking Group, not only recognizes that the blockchain could make bank payment traffic significantly less expensive—its own research mentions an efficiency gain of $20 billion—but also that there is a world of other opportunities. There is a dilemma however, as revealed during an interview with two Santander stakeholders: “This will only be interesting if numerous banks take part Is Bitcoin to Banks What Torrents Were to the Music Industry? 47 and collaborate.
This is because the network itself constitutes the trusted party that supervises whether the agreed transaction has indeed taken place in line with the agreed conditions. 46 3 You Ain’t Seen Nothing Yet I s Bitcoin to Banks What Torrents Were to the Music Industry? There is an interesting analogy between Bitcoin and torrents, the extremely popular way to (illegally) download music and movies. In the case of torrents, no central computer or middleman is required either: when you download a music file with a torrent, it comes in pieces from different computers belonging to other users.