Device connected to the internet fundamentally serves a very specific purpose, and its called “Efficiency“.
The device doesn’t get smarter on its own however it can gather data which can be analysed and further actions can be planned.
Around the context of Internet of things , Pramod Dhakal form Hitechies & Stephen Gold From HZO goes through a very interesting conversation.
In this conversation :
- Device connected to internet has evolved in few different phases.
- 127 new devices are connected every second to the internet.
- What does that mean to the power usage ?
- At the rate of increase of IOT devices , How are we going to remain Sustainable
- How does the market adapt within the present context of covid 19
Evolution of IOT sector and the Impact
How's the tool on the business overall you know with this present situation?
Indeed. I think it's the same story everywhere you know pretty much also here in the European region we have a similar situation we are trying to get back to the normal but it's hard and people don't want to go back to the office because, why would they want to do that. So, there are challenges which we didn't think it would appear in this way....
Oh, yes every morning I hear stories that you know x amount of people were let go...
Yeah. It's terrible.
No, definitely not because we normally have vacation around April right so we had plans to go to Greece and enjoy our vacation as such and by January we knew that we are not going there so we had to cancel by January and then we hope that by July everything will be fine but it looks like you know July of 2021 it would be [Laughter] so that’s what I think it would be a bit of a normal by then.
No, I met my physician recently and I asked him “when do you expect of action to be available to the public” and he said “If you're lucky by December you would get it”. So, that's the kind of timeline that we are hoping that it would be ready.
Yes, that's the way we think in this technology space right? So, we only think in binary terms. So, how did you get into this technology space?
1. Security, because you typically don’t want the device to be compromised. and
2. Durability, you don’t want the device to fail.
What does that do, when you are coating that? What does that do to the device overall?
So, it means like it has to be coated during the manufacturing process itself?
It makes sense. So, in generally we are connecting a lot of devices to the internet and you know bigger challenges are the security, how do you see the security being handled in the near future?
Yes, I mean this is one of the thing that we are quite sensitive here whenever we talk about privacy or security and especially to do with the data GDPR I’m sure you're aware of those, and that's where the question is coming from because indeed like at one side IOT is providing you with lot of information’s and a lot of data that helps you to make smarter decision at the same time you also have the threat of being hacked and so forth?
You’d have seen the evolution of IOT sector more closely than myself I guess, how can you so see this into different phases if you have to see like when it was started, let's say when people actually started connecting any devices to the internet to where we are like how can you actually see this in different phases?
Yes, I was talking to one of the founder the other day and he is also into the IOT space and intelligence and so forth so, he said “It's the biggest challenge that we will face forward is the scalability and also resourcing right so, you may find resources but you may not find great resources to work in this extremely complex environment and how do you match that like how do you get there?
Yeah indeed and when I look around as we connect more and more devices to the internet I’m sure there's a finite amount of energy that is available to at least at the moment. What do you think about the consumption part of the energy and what do you think about the efficiency there?
The more we connect to some kind of power source it means like we are burning somewhere. So, as soon as we burn something that has a direct contribution towards the climate change and then I guess somewhere we need to find a balance there on how we are protecting our environment together with investing on technology as such. And, what's the future for your company?
If I were to understand this correctly the coating is not subjective to just the electronic, could be a car as well, right?
Yes, interesting because, I can imagine it cannot be limited to one particular sector.
Yes, I can imagine due to this present situation there's a lot of talk about telemedicine, you know previously people only used to talk a little bit here and little bit there but now it's a big subject there. And I'm sure there's going to be a lot of devices people will require keeping at home and I’m sure there's a market for telemedicine.
It was more of a novelty right? So, if you say okay I want to talk to a doctor today and you know the doctor would find the time and then just did this talk over the phone. Now it has become a compulsion because the doctor doesn’t want to see you right, if you are coughing. [Laughter] And if you have devices outside which would you which you are able to self-diagnose first of all and then send the results to the doctor then that's great, right?
Yes, unless there is a need for a physical requirement but otherwise I think of the time you don't need to actually visit a physician. That’s pretty much all the question I had for this particular session. Thank you so much for this particular time I definitely want to wish all the best for your company.
Pramod Dhakal is a Tech entrepreneur at heart, a natural leader, an Agile practitioner, and a Digital Transformation provoker. He has spent over a decade implementing various large-scale transformation initiatives in large multinational organizations. He is an author and contributor at Hitechies largely in the technology space. Pramod is an active investor in cryptocurrencies and he is extremely positive about the future of the decentralized digital economy.