Technological Evolution and The Fourth Industrial Revolution
On June 6th, 2019, Crypto Capital’s founder and ZB Group’s Vice President, Ms. Aurora Wong spoke at the Eagle Chain Digital Economy and Culture Festival’s Forum in Wuhan, China, during the Digital Economy Industrial Application Summit. Ms. Wong shared her views on Blockchain as an indispensable key technology in current days.
ZB Group’s Vice President highlighted the importance of Blockchain technology in the development of the industrial internet in the field of digital economy, referring to it as a “very important weapon for the industrial entity”.
Ms. Wong addressed also ‘distributed data collaboration’, affirming that the “Blockchain is a much better way for companies to share business data while sharing industrial data”. She finished her speech by addressing a current hot topic which is 5G High Speed Transmission, the 5th generation of mobile communication system where she paralleled 5G and Blockchain technologies as being “the two most important tracks to the future of industrial economy”.
ZB Group’s Vice President speech caused great repercussion beyond the borders of Mainland China, where the forum took place, as it received a vast media coverage all over the world. It certainly touched a very important subject, another current hot topic, which is the ‘fourth industrial revolution’. In order to understand what the fourth industrial revolution is, let’s take a brief look at the main characteristics of the previous three.
In summary, the ‘First Industrial Revolution’ used water and steam power to mechanize production; the ‘Second industrial Revolution’ used electric power to create mass production and ‘The Third Industrial Revolution’ used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on or deriving from the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres, including the Blockchain technology.
There are a few reasons why today’s transformations represent not merely a prolongation of the Third Industrial Revolution but rather the arrival of a Fourth and distinct one: velocity, scope, and systems impact. The speed of current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country. And the breadth and depth of these changes herald the transformation of entire systems of production, management, and governance.
The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited. And these possibilities will be multiplied by emerging technology breakthroughs in fields such as Artificial Intelligence, robotics, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, materials science, energy storage, quantum computing and the Blockchain technology.
Let’s look again at the example Ms. Aurora Wong gave during last week’s speech, using the medical field to exemplify Distributed Data Collaboration:
“Through traditional methods, a patient diagnostic and treatment are determined by the doctor only after a slow observation, thorough examination of symptoms and strict pathological tests. However, if the patient had an extensive database of his health history registered in a digital form, it would be possible to find the cause of a symptom and determine the treatment plan through AI training and algorithm modeling in a much faster fashion. In addition, the patient’s diagnostic and treatment plan data would be available to different entities, such as community hospitals, CDCs, clinics pharmacies, etc.,” stated the Vice President.
Artificial Intelligence is all around us, from self-driving cars and drones to virtual assistants and software that translate or invest. Impressive progress has been made in AI in recent years, driven by exponential increases in computing power and by the availability of vast amounts of data, from software used to discover new drugs to algorithms used to predict our cultural interests.
Some of the greatest challenges posed by new information technologies are privacy and security. We instinctively understand why it is so essential, yet the tracking and sharing of information about us is a crucial part of the new connectivity. Debates about fundamental issues such as the impact on our inner lives of the loss of control over our data will only intensify in the years ahead.
ZB Exchange has an impeccable history of keeping its user privacy and security unbreachable for over half-decade. As the world’s leading digital asset trading platform, ZB Exchange has a wealth of experience in blockchain finance. Since its launch in 2013, the security and exclusivity of the platform has also been a key factor in attracting worldwide users. ZB Exchange is exploring and contributing to the development of the new economy and is being an active contributor to the fourth industrial revolution.
ZB Group was established in early 2012 and it is one of the world’s first traditional enterprises to successfully migrate to the Blockchain industry in its early stages. Its main businesses include trading platforms, public chains, DApps and digital wallets. ZB.com provides powerful trading tools such as OTC, C2C, Margin Trading to users around the world. The number of ZB registered users have exceeded 3 million among five trading zones: QC, BTC, ZB, USDT and PAX. ZB Exchange (ZB.com,) ZB Group’s flagship exchange, has listed more than 80 tokens and offers 218 trading pairs, with an average daily trading volume of about US$3 billion.
ZB Group currently has operating teams in the United States, Canada, South Korea, Singapore, Hong Kong, Switzerland and Dubai. At present, the main ZB Group exchanges’ trading volume rank amongst the top ten in the world. Some of the group’s operations have also gradually expanded from trading platforms to e-wallets, investment funds and research institutions.
Learn more about ZB Exchange by visiting www.zb.com.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.