Digital assets are more than just bitcoin and they are having an incredible impact on how legitimate and illegitimate transactions are conducted. Breaking it down to a simple level there are three basic forms of digital assets:
- Digital currency is the electronic form of traditional currency. It is what is stored in a digital wallet, transmitted electronically and then turned into actual cash when withdrawn from a bank or ATM.
- Cryptocurrency is the encrypted form of digital currency that uses blockchain technology to move it around. Cryptocurrency does not require a financial institution to verify the transaction.
- Non-fungible tokens (NFTs) are a one-of-a-kind digital asset that represents a real-world item such as photos, music, videos and trading cards.
Unfortunately, as with any new technology, bad actors are finding ways to exploit these assets while the rest of the world is still trying to fully understand them. Continue reading
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Machine Learning (ML) and other aspects of Artificial Intelligence (AI) are becoming a critical part of government modernization plans. The fear that "machines will replace people" has largely disappeared. In fact, people see the benefit that ML provides for human workers. ML technology allows machines to do what they are best at - fast computation of large data sets - freeing up humans to do what they do best - analyzing and making sense of the data produced.
In an era where we're often asked to "do more with less," government is finding the need to do more with more when it comes to data. There is no lack of data within government systems. The challenge has always been getting the right access to it and then making it usable. Data can go a long way in helping meet key government-wide goals of better customer experience and increased equity in government service. There are a number of interesting applications of Big Data solutions across government to illustrate the power of data to make a difference.
