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Venture Capital in Australia: Bitcoin and Blockchain Technology: How do they Wor...: Why was Bitcoin created? How does it work? What is it? WIll it give those hoped for exponential returns?

50% of the people say that it will scale, 50% say that it will die. One thing is for certain... somebody is right

Innovation Australia presents 30 recommendations to promote Innovation in Australia towards 2030

Innovation and Science Australia has handed down a total of 30 recommendations to the federal government as part of the public release of its 2030 Strategic Plan.

The 2030 Strategic Plan is a roadmap delivered to advise the Australian government on how to develop the nation’s industry policies out to 2030.

“Looking towards 2030, innovation will be integral to the expansion of Australia’s economy, keeping its workforce strong, and addressing societal challenges,” ISA chairman Bill Ferris wrote in the plan’s introduction.

“Australia will need to be competitive in a global innovation race by scaling up more high growth industries and companies; commercialising more high value products and services; fostering great talent; and daring to tackle global challenges.

“Yet just at the time when Australia needs to accelerate its innovation performance, we are falling behind our global peers, particularly in student performance in science and mathematics, and in business investment in research and development. This is more than a canary chirp in our economic mineshaft: it is a clarion call for national action.”

The 30 recommendations have been delivered with five key policy imperatives in mind. These include education, industry, government, research and development, and culture and ambition.

The ISA also proposes within each key policy imperative strategic opportunities that are available to government to ensure each recommendation can be actioned.

Below is a summary of the 30 recommendations made in the 2030 Plan:

1. Strengthen training for pre-service and in-service teachers by investing in quality teaching that focus on a nationally agreed minimum number of annual hours in discipline-specific training, and monitor the entry standards for initial teacher education courses to include STEM teaching.
2. Prepare students for post-school STEM occupations by exploring opportunities to encourage participation in STEM subjects in high school, as well as strengthen education skills such as hypothesis-driven problem solving, systematic enquiry and logical thinking.
3. Improve transparency and accountability across the system including raising the national minimum standards in National Assessment Program – Literacy and Numeracy (NAPLAN).
4. Review the Vocation Education and Training (VET) system and report back in 12 months on strategy to ensure it can be responsive to new priorities presented by innovation, automation and new technologies, and can be internationally competitive.
5. Continue to expand and reform the VET system including linking VET student loan funding to employment outcomes, and encourage industry employers and VET providers to consult on identifying areas of expected skills shortages of potential high-growth sectors.
6. Reverse the current decline in business expenditure on R&D by improving government support and ensuring, at a minimum, the total government support for science, research and innovation does not fall below its medium-term average of 0.63 per cent of gross domestic product, and implementing the recommendations of the 2016 Review of the R&D Tax Incentive
7. Enhance efforts to help young firms access export markets by increasing funding for Export Market Development Grants
8. Prioritise investment in artificial intelligence and machine learning in the medium- to long-term as outlined by the forthcoming Digital Economy Strategy
9. Establish protocols including consumer data rights to maintain healthy levels of competition in knowledge-intensive industry sectors
10. Strengthen efforts in talent attraction and skilled migration through continuing improving marketing to suitable talent, especially through Austrade
11. Create a more flexible regulatory environment that fosters innovation by encouraging collaboration between all levels of government
12. Encourage social innovation investment and financial returns in Australia by strengthening the existing policy environment
13. Improve provision and use of open government data by developing government capability and capacity to deliver accessible, accurate and detailed public data
14. Grow government procurement from SMEs by 33 percent by 2022, and ensure the Department of Innovation reports of the progress of this annually
15. Increase the use of innovative procurement strategies such as establishing programs that promote, track and report on progress towards procurement practices that drive innovation, and develop contractual frameworks to facilitate procurement from startups and young firms
16. Maximise spillover benefits of major government programs such as, for instance, how Defence Science and Technology Group is engaging with companies to develop prototypes
17. Instruct the Digital Transformation Agency to explore opportunities to achieve half of the projected 12 percent of savings from digitising service delivery by 2022 and the balance by 2026.
18. Review the Australian government’s Public Service on how it can play a greater role in innovation policy development, implementation and delivery
19. Introduce a tax offset of up to 20 per cent to incentivise collaboration
20. Evaluate the benefits of scaling-up industry higher degree through research placement programs
21. Evaluate the impact of recent changes to incentivise collaboration in 2022 where the review should cover funding changes, progress on addressing the findings and recommendations of the Review of Australia’s Researching Training System, and progress on ensuring that university career paths allow for flexibility between industry and academia
22. Increase commercialisation capability in research organisations by establishing a new stream of funding for translational activities
23. Develop and release an Australian Innovation Precincts Statement to shape Australian Government involvement in emerging localised innovation ecosystems in cities and regions
24. Establish secure, long-term funding for national research infrastructure
25. Maintain a long-term policy commitment to a achieve greater gender diversity in STEM
26. ISA to monitor availability of risk capital to high-growth businesses
27. Establish a “National Mission” to help make Australia the healthiest nation
28. Adopt a framework to continue to identify and implement “National Missions”
29. Invest in developing a more effective framework to evaluate the performance of Australia’s innovation programs, including introducing a requirement that new government funding programs aimed at supporting innovation will dedicate 2 per cent of their budget for the evaluation of outcome
30. Support the development of innovation metrics and methodologies to fully capture innovation and link it to economic, social and environmental benefits. In particular, request the Australian Bureau of Statistics (ABS) and the Department of Innovation to review business and research and development data collections to ensure they are fit for purpose; and commission an independent body to review existing innovation metrics 

Opportunity for The Innovation community during the ASEAN conference in Sydney

The Australia-ASEAN Special Summit of 10 neighbouring countries are to be held in Sydney in mid-March  presenting huge opportunities for Australian tech and innovation, and we are looking forward to engaging  with the delegations that will be here .

ASEAN’s chair revolves annually, with Singapore at the helm in 2018.

Singapore Prime Minister Lee Hsien Loong told a press conference to mark the start of its term as chair that it would “do its best to take the group forward” focusing on the themes of resilience and innovation.

Tech and innovation themes include cybersecurity to AgTech and food security, to data science and climate change, to advanced manufacturing, data science and digital supply chains. .

“We hope during Singapore’s term as chair, we will start some ASEAN projects that will strengthen our collective resilience against common threats such as terrorism, cybercrime, and climate change,” Mr Lee said.

“We also hope to promote schemes that capitalise on innovation, to help ASEAN economies to innovate and to use technology, to make us a more dynamic and connected community.”

When the leaders of the ten ASEAN member countries arrive in Sydney for a weekend meeting in early March, it will mark the first time the Australia ASEAN Special Summit has been held in this country.

The centrepiece of the summit is the leaders’ meeting and retreat, while a Business Summit, SME Summit and Counter-Terrorism Conference will be held in the week preceding..

The Business Summit attach ASEAN-Australia Special Summit is stitched up by the Business Council of Australia, the Australian Chamber of Commerce and Industry, the Australian Industry Group and the Export Council of Australia. 

This is a good time to host “a future of work summit” .

There are 660 million people who live in the ASEAN member countries with a combined GDP of $3.4 trillion. The bloc is growing at an average 4.6 per cent.

There are 100,000 students from ASEAN countries studying in Australia at any given time. More than 890,000 Australians claim an ASEAN heritage.

We look forward to be celebrating our close ties to Singapore and our ASEAN neighbours and cheering the arrival of their leadership delegations in to Sydney in March..

Vodaphone predicts the 8 tech trends of 2018

Predictions from Vodaphone 

1. The rise of Machine Learning

New research from Deloitte has predicted that this year will see a large amount of growth in the adoption of Machine Learning (ML) in medium and large-sized enterprises. In fact, according to their 2018 Technology, Media & Telecommunications (TMT) report, in 2018 the number of ML pilots and implementations will double. For the uninitiated, Machine Learning is exciting technology that teaches binary logic computers to learn the way we do – by interpreting information around us and learning from successes or failures. This may sound a bit dystopian, but the technology can be extremely useful for personalising products, advertising to customers, and more

2. Increased adoption of cryptocurrencies

Bitcoin was certainly one of 2017’s favourite buzzwords – just don’t expect the cryptocurrency craze to slow down in 2018. The CEO of Blockchain predicts that this will be the first year that we see banks hold digital currencies as part of their reserves in case they need to react to any market shocks – so we know things are getting serious. Of course, it isn’t just Bitcoin on the rise, other digital currencies like Ethereum, Ripple and Cardano are increasing in popularity. Will you get on board with the blockchain?

3. Prepare to talk to AI chatbots

Technology will affect every aspect of our lives – and that includes customer service! Customer experience (CX) is becoming more and more important for brands to survive, and companies are starting to get on board with Artificial Intelligence to interact with customers. Gartner predicted that by 2020, 85% of conversations with customers will be with chatbots. Some businesses like Qantas are already using chatbots to help people complete orders or even just engage with their content. According to a LivePerson report, How consumers view bots in customer care, most customers in Australia would still prefer talking to a human, with 57% people preferring to wait on hold for 3 minutes to talk to a human over talking to a bot. However, chatbot technology is getting smarter, and is going to be a way of life very soon – so watch this space.

4. VR introduced in the workplace

While we know some people (like the Wallabies) already use VR tech at work, 2018 could be the year that we start seeing it more and more in businesses, according to Deloitte’s Tech Trends 2018report. Deloitte identifies VR as a key ‘digital reality’ opportunity for organisations, as it could solve a lot of common business problems – like connecting remote teams, improving the employee training process, and even improving focus with virtual reality desktops. It could even be used in the recruitment process. Personally, we’d love to see how VR tech could be used in the workplace, too!

5. Longer battery life

There have been several reports that new technology in the new year will have significantly better battery life. The battery life of some laptops might last a full day (for instance, LG has claimed that its 2018 Gram laptop will last up to 22.5 hours). Innovation continues for smartphone batteries, with some exciting smartphone releases planned for 2018, and technology is improving to charge less frequently, and charge faster.

6. Foldable smartphones

Microsoft, Apple and Samsung have hinted at plans to release foldable smartphones in the future, with both Apple and Microsoft recently filing patents. Huawei has also recently suggested that they will release a foldable smartphone in 2018. The rumours are flying, so it’s time to wait and see what happens.

7. Drones will become more of a reality

At the moment, drones are somewhat of a novelty for most people, however drone expert Elaine Whyte predicts that the drones market will become a ‘mature professional service offering’ in 2018. Potential uses include collecting 3D data for building information modelling, drone delivery, and of course, photography. With this also comes regulation, so it will be interesting to see where this goes in Australia.

8. Demand for more data

As smartphones develop their capability, there’s demand for more data in mobile phone plans, for video streaming, social media and file sharing. Currently, Vodafone is adapting to this trend – find out more about our triple data deals and summer sale on Red Plans.

Dr Luther King Day

Ivan,

It’s 2018, and I, like so many, often take for granted the condition in which we find our nation. I look around and see a myriad of people going about their daily life enjoying the freedoms that America affords. 

I see school children spanning the vast arrays of melatonin playing and learning side-by-side... people of all ethnic backgrounds and religious affiliations working together, interacting with one another, worshipping together, and standing united in a common purpose - a common dream. Viewing the face of America today, I can scarcely believe this country I know, and love was the polar opposite of itself only fifty years ago. It is in this vein that I pause on this auspicious day to reflect upon a man who would come to epitomize the word "peace" in the midst of the Civil Rights Movement, Dr. Martin Luther King Jr. 

The message that Dr. King espoused during his lifetime was, and remains a message that rises above partisan politics and resonates with all of humanity. While I'm not making a political statement, I would be remiss if I did not stop to recognize the work of a man who had a vision of peace and harmony for our great nation regardless of political affiliation.   

Of the many adjectives that I can think of to describe the American people, hopeful is at the top of the list; however, for far too long, an important portion of our populace, the African American community, had little to hope for from a nation that had caused so much hurt to them, yet Dr. Martin Luther King Jr. came into the forefront bearing a message of renewed hope and healing to an injured people and nation. 

In an effort to spur our country to live by its noblest principles, Dr. King put his life on the line in the pursuit of justice and freedom. He was a man acquainted with beatings, jail, and death threats, a man who paid the ultimate price for the sake of democracy... democracy for us all. 

As we commemorate the life and legacy of Dr. Martin Luther King Jr., we recall his life dedicated to the timeless values of truth, service, humility, love, compassion, courage, and peace. He championed the cause for our country to live by its noblest principles. His message and life’s work radically changed the United States of America, and as more than 100 nations celebrate his vision of ecumenical solidarity, indeed, the world. 

Today, we not only remember the legacy of Dr. King but also thank him for his selfless dedication to the ideals of freedom and equality.

"Darkness cannot drive out darkness: Only light can do that. Hate cannot drive out hate: Only love can do that." – Dr. Martin Luther King Jr.

Sincerely,

Shaun Cohen
President

Thanks Yvonne Keane 

"When the sharpest words wanna cut me down, I'm gonna send a flood. Gonna drown them out. I am brave. I am bruised. I am who I am meant to be. Look out 'cause here I come. And I am marching to the beat I drum. I'm not scared to be seen. I make no apologies. This is me..."

(Via: The Greatest Showman)

#ForMyBelovedTribe

#MakeNoApologies

#ThisIsYou #ThisIsMe

Google trying to dominate CES2018

The Bob Pritchard Column 

At the 2017 CES, the biggest technology conference of the year, it was all about Alexa, Amazon’s virtual assistant. 

In 2018, Google is doing everything possible to hijack the news cycles to ensure Amazon does not dominate CES 2018.

 

Google usually doesn’t exhibit products at CES (formerly the Consumer Electronics Show), but this week is making a slew of new announcements about its own virtual helper, the Google Assistant.  Google revealed that the Assistant is coming to a variety of new devices, including new voice-activated speakers, Android-powered TVs, headphones, and cars that support Android Auto.

 

 

The new Google Assistant-compatible speakers will be made by companies such as Bang & Olufsen, Altec Lansing, Anker Innovations, JBL, and iHome, among others. TV makers such as Hisense, Xiaomi, and Skyworth will be bringing Google’s voice-activated helper to their Android TVs. And new headphones from JBL, Sony, LG, and Jaybird will also have the capability to summon Google’s digital helper.

 

But Google is also taking a more direct shot at Amazon with the announcement of Smart Displays, a new type of device that will run on the Google Assistant.  Smart Displays are a bit like Google’s Home smart speaker in that they’re voice-centric computers, but Smart Displays include interactive touchscreens similar to Amazon’s Echo Show, unlike the Google Home, which primarily relies on voice commands. Also unlike the Home, Smart Displays are made by Google’s hardware partners, rather than in-house — Lenovo, JBL, LG, and Sony are all involved. Smart Display’s are Google’s answer to Amazon’s Echo Show, which also includes a tablet-like touchscreen. The Smart Display runs on Android Things, Google’s platform for Internet of Things devices, rather than the standard version of Android.

 

The Lenovo Smart Display can be used for just about any task you might also do with the Google Home: playing music, controlling smart home devices, and pulling up recipes or restaurant recommendations . But since the Smart Display has a screen, the device will show users helpful information when answering their questions. When asking the Smart Display where to go for dinner, it will show nearby restaurant recommendations from Google Maps.

 

And Google’s Smart Displays can play YouTube videos. That gives it an edge over the Echo Show, considering Google pulled support for the YouTube app on Amazon’s touchscreen device last year. Lenovo and Google’s new device also has an advantage over Amazon when it comes to aesthetics being sleeker, a more polished design that blends more easily into the home.

 

The Smart Display also integrates with smart home devices, including those made by Nest, which is owned by Google’s parent company, meaning parents can use the Smart Display to view a live feed from a Nest security camera.

 

Most large technology companies, like Apple, Microsoft, Facebook, and Amazon, reserve their product announcements for their own keynotes and events. This year, Google is determined to make CES attendees — and the world — forget about Alexa

Blockchain Applications for All Walks of Life

 

By

 

Gareth Jenkinson

20802  Total views 

312 Total shares

FINTECH

Given the meteoric rise in popularity of cryptocurrencies in 2017, some mainstream financial institutions are clamoring to board the steadily moving crypto train.

The successful launch of Bitcoin futures contracts on CBOE and CME markets has proven that there is a healthy appetite for Wall Street investors to hedge their bets on the daily trade movements of cryptocurrencies.

While the two Chicago-based exchanges will go down in history as the first to offer futures, a number of big players aren’t far behind.

The New York Stock Exchange has officially filed for permission to launch Bitcoin exchange traded funds linked to the CME and CBOE listed futures, and the likes of Goldman Sachs are planning to launch their own cryptocurrency trading desk.

Let’s not forget about the NASDAQ, which is expected to launch its own Bitcoin futures midway through 2018.

While the experts iron out the fine print of their plans to offer Bitcoin futures on their futures platform, NASDAQ shared some important facets of the underlying technology that breathes life into cryptocurrencies - the Blockchain.

Blockchain 101

For the uninitiated, we should take a quick glance at Bitcoin’s Blockchain. Put simply, this particular Blockchain is an electronic accounting ledger that records every single transaction made using Bitcoin since its inception.

The ledger is shared on a worldwide network of computers, that keeps exact copies of the entire Blockchain. Batches of transactions are stored on blocks which, when full, are added to the chain - hence the word ‘Blockchain.’ Every transaction must be verified by nodes on the Blockchain before it is stored on the Blockchain.

Given this watered-down definition of Blockchain technology, its application is almost endless, as we have seen with the creation of a wide variety of cryptocurrencies.

For the NASDAQ, and other financial institutions, Blockchain application for transactions is of the utmost interest and it allows for a number of crucial functions in the financial world.

Cutting out the middleman

First and foremost, the decentralized nature of Blockchain technology rules out the need for a central body or third-party to approve and process transactions. As the Nasdaq pointed out in its articlepublished on Due.com by Peter Daisyme, most parties act in their own interest.

“The problem, however, is that many of these ‘agents’ have misaligned incentives, in that they are all fighting for their own slice of the profit.”

By using Blockchain technology, vital information can be authorized and shared by an efficient algorithm, free from maladministration.

“Implemented at scale, we can remove the error of human bias and maintain a cleaner, more accurate transactional databases.”

Proving ownership

Ethereum first introduced smart contracts with its Blockchain, which effectively allow contractual parameters to be added to transactions or shared information.

Smart contracts were created to ensure credible, transparent contractual obligations using Blockchain technology, effectively ensuring contractual obligations are met by both parties for the rest of the world to see.

NASDAQ highlights TrustToken’s smart contract Blockchain application, which provides a legal protocol for asset ownership.

More secure

While it’s enormously difficult to completely negate the threat of hacking, Blockchain technology has made a significant step in the right direction in negating the threat of cyber attacks.

Given that the Blockchain must be verified by nodes on the network, which is comprised of millions of computers around the world, it's virtually impossible to hack a Blockchain. Making changes to a single node is ineffectual, as the rest of the Blockchain will simply remove the node and its non-compliant record of the ledger.

Even if a hacker could destroy or affect every node of a Blockchain, the data is cryptographically encrypted. While every transaction is universally viewable, the information is unchangeable.

Quoting SteelKiwi from Hackernoon, the Nasdaq highlight just how difficult the technology is to crack.

“Unless the hacker could simultaneously bring down an entire network (which is near impossible), undamaged computers, also known as “nodes,” would continue running to verify and keep a record of all the data on the network.”

Overhauling supply chain

Another big factor for big businesses is the application of Blockchain technology in supply chain management.

Traditional methods would see long paper trails accounting for complex business activities. From finances to tracking and placing orders for raw materials, a lot can go wrong during this process.

Multinational fast moving consumer goods giant Unilever is looking to implement its own in-house Blockchain technology to streamline the supply chain management of tea production in Malawi.

The corporation plans to use Blockchain technology to manage transactions within its tea supply-chain, which could include up to 10000 farmers.

Possibilities are endless

As Daisyme points out in his analysis, the applications of Blockchain technology are endless. It simply takes bright minds looking for simple, electronic solutions to real-world problems to breathe life into the next Blockchain application.

11 predictions for 2018

2018 - 2020 will be an exciting place to be..... with some really amazing innovations coming our way - 

Here  are a few......

1. Gene-editing techniques move to reality.

Gene editing, modifying human DNA using a technology known as CRISPR, will become more advanced in 2018. The technology will have huge beneficial consequences when it comes to fighting disease and removing congenital problems.

 

2.  Bitcoin and Cryptos

The cryptocurrency rose from below $1,000 at the start of 2017 to nearly $19,000. Economists are in two minds, will it crash in 2018; or will it totally change the monetary markets 

 

3. Self-driving cars hit the market. 

Audi is set to release the first commercial vehicle to drive itself while monitoring its surroundings. 

 

4.  A.I. will become pervasive.

Artificial intelligence’s next frontier is creativity. A.I. is going to help us learn from our own successful routines and the bots can process..

 AI features will play an integral role in virtual communications, and will surpass in-person communications in terms of user experience and productivity. Artificial intelligence capabilities such as smart transcription, virtual personal assistants, and voice recognition will support smart video meetings that will become the communications standard. Says Eric Yuan, founder and CEO of Zoom, a provider of modern enterprise video communications

 

5.  Micro leases and pop us stores thrive while retail, restaurants and malls struggle 

A glut of empty storefronts in malls will force landlords to sign ever-shorter leases. To combat sluggish sales in traditional retail, concepts will move more frequently to better align with consumers’ interests.

6.  M&A boom.

Corporate tax cuts, a growing economy, access to cheap money and industries being disrupted will give companies that are in growth mode big opportunities for m and a : retail, healthcare and entertainment.

Google, Apple, Facebook, Amazon, Cisco and Microsoft will continue to grow through acquisition. with money and capital in abundance. 

7. Corporate wellness and continuous learning

Humans should spend the year in constant learning mode.

The importance of the body, mind and spirit connection will be a huge focus for corporate wellness  and learning programs in 2018. The successful  Companies will be investing more and focusing on their employees and launching new programs to support their mental and physical energy and wellbeing. 

8.  SAAS becomes pervasive - Ownership will decrease.

The rise of the  'as-a-service' business model is changing the way consumers interact with the world. People no longer want stuff, just access to stuff, when they need it. From our cars to our phones, and the music and movies we stream on them, we increasingly own less.  With the first of Generation Z hitting the workforce in 2018, we're going to see the start of a whole generation which simply haven't grown up with that expectation of ownership, and are far less emotionally wedded to it.   

9.  The world runs on voice.

The explosive growth of virtual assistants such as Amazon Alexa and Google Home will transform the lives of millions of all Americans.

Consumers will expect voice on everything from home appliances to personal digital assistants.

10. Face-to-face interactions will increase.

"The internet has made it possible for people to communicate easily while slowly weakening personal connections. Technology has allowed companies to track productivity with monitoring software, at the same time weakening trust.

Relationships have proven to be the way to increase sales and strengthen companies. 

People who focus on their customer giving unique unparallelled service will shine. Those that influence the way customers communicate, listen, watch, shop, work and play will win. 

 11. Trust is key

 Companies will be focussing on their most important asset: trust. And for good reason. From fake news and foreign ads on social media potentially impacting our election to the massive data breach at Equifax, trust in technology took a serious beating this year. 

So while some of the most transformative technology in decades, like autonomous cars or blockchain, is poised to go mainstream , successful companies will be putting trust front and center. If your users don't trust you, it doesn't matter how cool or transformative your product or service is - It's dead in the water.

And a few other themes to look out for:-

- The cannabis industry 

- The engagement and organisation of gig workers 

- With the proliferation of cameras - the integration of face recognition

- New innovations in electric vehicles 

 

 What do you think?