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2018: The Year We Democratize #Blockchain $ $ $SXOOF#Blockstation

Posted by AGORACOM-JC at 2:47 PM on Tuesday, January 9th, 2018
  • World has seen tremendous interest in blockchain across industries and countries, from thousands of new startups, to blockchain labs popping up in commercial and federal organizations
  • Democratization of a given technology can happen in many ways, from the number of people, products and solutions using that technology, to its business value or the level of disruption it activates.

Eric Piscini, a principal with Deloitte Consulting LLP, is the global leader of Deloitte’s financial services blockchain consulting efforts and co-lead at its the global blockchain and cryptocurrency team.

As the technology behind bitcoin nears its 10th year in the market, let’s celebrate the positive.

The world has seen tremendous interest in blockchain across industries and countries, from thousands of new startups, to blockchain labs popping up in commercial and federal organizations, to a number of consortia established looking to solve their industry’s biggest challenges.

One can go so far as to argue that 2017 saw the democratization for cryptocurrencies.

Democratization of a given technology can happen in many ways, from the number of people, products and solutions using that technology, to its business value or the level of disruption it activates. As opposed to previous technology waves – like open source – blockchain technology is, at its core, is designed to empower people versus organizations. It is thus natural that blockchain democratization is also core to its success.

With kids accepting bitcoin on lemonade stands, teenagers investing in ether to pay for college and traders standing up crypto-trading desks, there is no doubt that cryptocurrencies have helped democratize blockchain. Ask anyone who has been involved in blockchain without being involved in bitcoin for proof of that. In a way, blockchain has been democratized via cryptocurrencies — but the real democratization of blockchain is about to happen.

With democratization at its core, here are some of the things I expect to see happen in the year ahead.

For a host of reasons, it is a critical year for every aspect of the space.

1. Killer apps

2018 might very well be the year of the killer customer app on blockchain.

While the CryptoKitties were cute, they also demonstrated some limitations of the technology platforms; it will likely incentivize those in the industry to develop more stable and scalable blockchains. And, as the foundations mature, we will see major advancements in the usage of blockchain solutions for consumers. Whether it be personal electric grid management, digital identity, gaming, loyalty or credit scoring, we will probably use a blockchain app in 2018 without knowing that it is backed by blockchain technology.

2. Major tech developments

Advancements will come in the next few months that will make the use of blockchain platforms easier than ever before. And it will happen across the main stacks of Hyperledger, ethereum and Corda, among others.

This will address a key challenge that we all face today — the scarcity of talent, especially in developers and architects. When it’s easier to provision and develop on blockchain technologies, innovation will be unleashed, many more solutions will be created, which will help drive more experimentation and successful platform launches.

3. Governments and regulators will drive adoption

These groups are now engaging and leading in blockchain efforts after studying and getting up to speed on the technology.

They now understand the value of blockchain for themselves and their constituencies. We will see large-scale use of blockchain led by governments, probably first in developing economies and small countries where incumbents are less influential. Financial inclusion, digital identities, regulatory reporting and payments will be the main areas improved by blockchain in 2018.

4. Corporations and non-profits will become major players

I believe these organizations will be the main engine in translating the promises into real commercially viable solutions, a massive role in the democratization of blockchain. Most importantly, they will have to accept that their long-term role in our economies might be dramatically different than it is today. We have seen both sides of the coin so far, pun unintended.

Those taking the defensive position – like notaries – will go the dinosaur way. On the other hand, those going on offense, with aggressive moves from major corporations, like banks, insurance companies and other financial institutions, will help build the next generation of business platforms on blockchain.

The biggest question: Will they be nimble enough to compete with the startups? Will they be protected by regulations? Will they generate return on their investments so far?

5. The jobs market will take notice

When it comes to talent, which is the first thing I think about when I wake up each morning, the job market too will be impacted and blockchain will offer new productive lives for many. The decentralization of work has already started and I’m a big believer that blockchain will fuel its growth. Imagine a world where each of us can monetize our time, skills and experiences on-demand and be rewarded with micropayments from a decentralized platform.

Work has been democratized many times over but it might very well be the last phase.

All that said, there might be a downside to the democratization of blockchain. If you consider blockchain as a non-human trustee, autonomous organizations running on blockchain are – as we have seen with the DAO – not so sci-fi anymore. Democratization of technology often requires strong ethical behaviors and, sometimes, a regulatory framework. We cannot overstate these aspects in our race to introduce blockchain to the world.

6. There will be surprises

No, I did not forget cryptocurrencies and other tokens.

They have reached democratization in financial markets already, with many exchanges and financial instruments. Will it open a new wave for anyone to invest into a new asset class, will it burst into flames, will it enhance existing businesses, or will it create new decentralized business models? All of the above, which is why 2018 is going to be the most exciting year in blockchain so far.

Democratizing blockchain will be central for us in 2018, as I believe it will generate an unprecedented level of change in the next decade.

Participation image via Shutterstock

The leader in blockchain news, CoinDesk strives to offer an open platform for dialogue and discussion on all things blockchain by encouraging contributed articles. As such, the opinions expressed in this article are the author’s own and do not necessarily reflect the view of CoinDesk.


Star Navigation (SNA:TSXV) Featured In Financial Post For Real-Time Airplane Monitoring. Black-Box Obsolete?

Posted by AGORACOM at 12:15 PM on Monday, November 1st, 2010

Congratulations to AGORACOM Client – Star Navigation Systems (SNA:TSXV) – On Today’s Financial Post Feature!  Yes, they are a client so assume I am horribly conflicted.  However, the fact of the matter is Star Navigation has developed the first system in the world to feature in-flight data monitoring and diagnostics with a “real-time” secure connection between aircraft and ground.

More than just lip service, the system has been tested and certified for airworthiness by world transport authorities including the FAA and Transport Canada.  Moreover, Star Navigation has made some major announcements with big players in the industry including Astrium, a wholly owned subsidiary of industry giant EADS.  As you can see from the headlines below, the partnership made significant strides in just 5 months:

  • Nov. 16, 2009 — Star Navigation Systems and Astrium Limited – a wholly owned subsidiary of EADS – announced the signing of a formal Collaboration Agreement
  • April 6, 2010 – Star Navigation Systems announced the signing of a Technical Partnership Agreement with Astrium, to enhance and implement the patented In-flight Safety Monitoring System (ISMS™)

On the commercial side, Star Navigation recently announced an agreement with Shaheen Air International to install the In-Flight Safety Monitoring system on one of Shaheen’s Boeing 737-200/300 aircraft, on a performance evaluation and configuration basis. The evaluation period will last for 90 days and upon successful completion of the performance evaluation, Shaheen will purchase a further eleven (11) systems for the balance of its fleet. Based on list prices, if completed, the value of the order over the 60 month contract is expected to be approximately USD $2,400,000, including ongoing airtime charges.

Finally, if you are looking for a dedicated small-cap CEO, then look no further than Viraf Kapadia who has invested millions of his own money to get the company to this point.  Now that is PYMWYMI – Putting Your Money Where Your Mouth Is.

Great job Viraf et al.  I know your work isn’t done but I love watching Star Navigation progress towards greatness!



Viraf Kapadia, chief executive of Star Navigation Systems Group, hopes his Black Box technology will finally take off now that all the licensing from aviation regulators are in place.

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Part of the tragedy of Air France flight 447 is the plane’s Black Box flight recorders, along with the definitive cause of the crash contained therein, might be lost forever miles beneath the surface of the mid-Atlantic.

Viraf Kapadia, founder and chief executive of Star Navigation Systems Group Inc., is hoping his company’s technology will ensure that is never again happens.

Billed as “the new Black Box,” the Toronto-based firm’s Terrastar onboard monitoring system records flight data in much the same way the traditional Black Box does. But instead of storing the data in a physical box on the aircraft where it could be damaged, lost or destroyed, Terrastar encrypts the information and transmits it via satellite to a ground-based monitoring station, where it is decrypted and stored in real time.

If a problem is detected, the device triggers an automated message to alert personnel on the ground.

“Say you’re the vice-president of engineering for Air Canada and you’re at an aviation show or conference. Something goes wrong with one of your aircraft of high priority then you will receive an email on your computer with WiFi or your BlackBerry telling you exactly what is wrong in plain English,” Mr. Kapadia said.

The purpose is to catch minor issues before they become major malfunctions. “It is proactive versus reactive,” Mr. Kapadia said. “The Black Box is very important when a plane goes down or a plane has had a problem and they want to do a postflight analysis, but that is always going to be after the fact,” he said.

“Our box is there watching in real time all the time so if there is an issue that needs to be addressed it can be immediately as opposed to t-minus one second which is then boom and crash.”

The potential to save human lives is of value immeasurable. Although Mr. Kapadia, an accountant by training, prefers to focus on the Terrastar’s ability to stave off the death of companies as well.

“One air accident can cost anywhere from $800-million to $1-billion or $2-billion and sometimes the life of the company, companies have seized because of one or two crashes,” Mr. Kapadia said.

Considering the technology required to accomplish real-time flight systems monitoring has been around for some time, one might wonder why it has taken until 2010 for a functional, marketable product such as the Terrastar system to come to market. Mr. Kapadia said it is just an airline thing. “Unfortunately in aviation everything takes longer and costs more,” he said.

“The Black Box has been in place for over 60 years and no one wants to change it.”

The fact his company has held patents on real-time flight systems monitoring since 2001 in Canada, the United States, the U.K., Australia and Hong Kong is probably also a factor.

“The Black Box is obsolete,” declared Pierre Jeanniot, former chief executive of Air Canada in a press release more than a year ago. As the founding director of the airline’s operational research group in the 1960s, he was partially responsible for the original Black Box design.

“New technology is now available that would make the recovery and analysis of critical aircraft performance factors a much surer and faster task than it is today,” he said. Considering Mr. Jeanniot is also the chair of Star Navigation’s strategic advisory committee, he was probably talking about Terrastar.

Although Mr. Kapadia was right about the process taking longer and costing more. It has taken 10 years and $26-million in funding for Star to get where it is today.

Aside from running the company from its inception, Mr. Kapadia is also principal shareholder, with $4.5-million invested in the business at various stages.

“I fully believe in this company, I have no choice,” he said. Mr. Kapadia said the remaining 2,000-odd Star shareholders are mostly “family and friends,” and he describes about 100 of those as “large investors.”

The company also raised about $2-million in August 2002 by listing itself on the TSX venture exchange, where it can still be found today under the symbol SNA.

Having received all the necessary licensing and approvals from Transport Canada and the Federal Aviation Authority [FAA] in the United States, Star is in the process of finalizing its first big order with a major subsidiary of the pan-European aerospace corporation EADS, or European Aeronautic Defence and Space Company. Mr. Kapadia is confident Star will achieve its first profitable quarter by the middle of the 2011 fiscal year.

“Our biggest challenge has already been overcome,” he said. “Industries

are off on [Terrastar] and we’re working with government bodies who are now absolutely concerned about the current technology and are looking at our technology as the saviour or possibly the death knell of the Black Box,” he said.

Mr. Kapadia said his next goal is to expand Star’s product line beyond the Terrastar system to bring about a “huge return on investment to my loyal shareholders, which includes me.” There are other monitoring systems for aircraft environments and medical systems being developed, as well as another potentially life-saving device in mind for the future.

“We are also looking at real-time [transmission] of audio and video from the cockpit and cabin,” he said. “Remember 9/11?”

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