The Internet of Things

The Internet of Things (IoT) is a term that discussed for our future as well as for our present too. This is a revolutionary thing that changed our life completely. In the upcoming fourth Industrial Revolution, IoT will be a key component for every big companies of every sector. It's a change from Anytime, Anywhere & Anybody- to- Anything.

Definition

IoT creates a world where physical objectives seamlessly integrated into information network and can easily became a part of business processes. The concept is very simple. Its about the connecting devices to the Internet with an ''On or Off Switch''. 

It refers to a wireless connection between objects enables the Internet to reach out into real world of physical objects. For example- adjusting your heating via an app can gather a useful data. That's why Google had purchased the Nest (Thermostat Company).

How it works!!

IoT is a scenario where humans, animals or objects are given a unique sensors and identifiers. They can transfer data over a network without human-to-human or human-to-machine contact. Three things made it possible for its working- Micro Electro-Mechanical Systems, Wireless Technology and Internet which finally create a machine-to-machine interface. Sensors combined with smartphones, will allow for more efficient energy networks (across cities and in your homes), reduced congestion and improved transport, multi use buildings etc. 

Houses, offices, factories and public buildings could all generate electricity from renewable sources. Sensor would then coordinate the distribution and storage of this power, making whole systems cleaner, more efficient and more stable. For example- South Korea's Smart City-Songdo and Grogniem in Holland use internet enabled dustbins that saves money regularly. 

Internet to Datanet

IoT provides real-time, location specific information, environmental & infrastructure activities information. All this creates a net of data which further be monitored and available to public also. This huge data created by IoT converts in 'Big Data' which will not be an easy task to handle by normal data methods and tools.

So It's Great then??

IoT has potential to make our lives better. It has efficient heating systems that could save us money, transport apps could save our time, new electric grid system could help to save the planet. But for its greatness then the answer is a NO, because it has some kinds of challenges associated with it. 

First- Social Challenges:

(a) Each connected device in theory become a risk & possible target for hackers. Like the criticisms of Demonetisation is about the security of the data. That's why Govt. had brought CERT- Computer Emergency Response Team.

(b) Privacy of individual is at stake at multiple levels. Consider a Smart Electricity Meter that knows your electricity use & typical times you are at home. All this could be available to hackers. This is called as privacy breachness.

(c) Machine guiding every aspect of our human lives. Simply saying we are addicted to machines. In other terms, we are became slaves of machines. According to me, Smartphones with all time on Internet devices make the person of less scientific temper because operating a smartphone is a process-driven system. The individual had not put his/her mind to operate it. He/she had to follow some steps, that's why I usually says ''The Smarter is your phone, the more dumber you are''.

Second - Governance Challenges: IoT will require legislation for security purpose of data. For this some amendments had to be brought in the constitution for preserving the Fundamental Right of an individual. Entire new governance structure will be needed. (The biggest challenge for PM Modi for his Smart City Project) Huge growth of electronic waste & environmental issues.

Good Bye to Pure Manufacturing

Earlier, great manufacturing meant making of great physical goods. A huge change is now that physical products are being stuffed with sensors & are being connected to Internet. So products becomes Products + Services (Change No.1).

Services run on information and information needs an operating system (Change No.2). So if a giant software & Internet company controls this operating system then manufacturers will lose all their edge. This transition had happened earlier when PC & Handsets makers lost their edge to windows or IOS/Android (Creative Destruction Theory by Schumpeter). 

The self-driven cars of Google moon shot venture Alphabet, Amazon Web Services and finally the Boss of Manufacturing - Germany's new program of ''Industrie 4.0'' are its fine examples. In upcoming fourth Industrial Revolution will be full of most amazing things like IoT and by the end of 2030 it will be a completely different world. 

http://www.bbc.com/news/technology-23757738- Link of Songdo Smart City in South Korea

Video of IoT- A must Watch

  

Global Issue of Population

In the world today there is various places with a varieties of mindsets of peoples with their corresponding languages. Each place has its own symbolism and cultural creativity. The term 'Modern Homo Sapiens' emerged around 50,000 years ago. Its subspecies is called as 'Modern Homo Sapiens Sapiens'.

Facts & Figures

At present the total number of humans alive today is around 7 billion. The total number of humans ever born is 108 billion. So basically, at present there is roughly about 6.5% of total human beings alive today. If we see a history profile of population, rate of growth of population decreasing due to global 'demographic transition'. 

Presently the key issues with developed countries is about the ageing of populations. For example in America, there is no social security benefits left by the time the people reach their retirement. The declining profile of birth rates suggest that fewer young people left to pay for the care of elderly. That's exactly happens in almost every countries of Europe and Japan.

Demographic Dividend

Younger people are usually considered as economic gift for countries. When the working-age- population (15 to 64 years) is larger than the non- working age population group, then there is usually a boost in economic activity, productivity and many such things. China is the best example of this part. 

Now this 'demographic dividend' will become 'demographic disaster' due to lack of jobs among young age population. It also worsened the economic aspect of any country. For example Sub-Saharan Africa is already one of the youngest regions in world & youth unemployment is high. Brazil economic activity is adversely collapsed due to 'demographic disaster'.

So if its is assume that there is only 100 people in the world then the ratio of male over female is 50 : 50. Out of 100 peoples, 26 will be children and 74 adults. In terms of literacy - 83 will be literate and 77 has their own houses. From religious outlook, there would be 33 Christians, 22 Muslims, 14 Hindus, 7 Buddhists, 12 others and 12 atheist. 

India

In context of India, some pluses and corresponding some minuses are associated. India is 7th largest nation by landmass occupying 2.4% of world land & second largest by population supporting 17.4% of world population and still growing.Out of which 68% are rural population still now.  By the end of 2050, India will have a population of around 165 crores. Now this create a big difference and a big challenge too. Women empowerment is not yet done as compared to other countries which suggest the key issue of population in India.

But India have a large working age population group and more than 50% people are below the age of 35 years. It will be also predicted that by the end of 2020, Indian average age will be 32 years of age which is definitely be a 'demographic dividend' for us.  

Globally, Japan has become the oldest nations of world having an average of around 46 years with 23% of population over 65 years.

History of paper currency in India

It's now been almost 40 days of announcement of demonetisation. On 8th November 2016, our honorable PM Narendra Modi has announced the banning of notes of Rs.500 & Rs.1000 which also preceded the introduction of new notes of Rs. 2000. Many of us saw the 'Mahtma Gandhi' on one side of notes. Though Reserve Bank of India (RBI) introduced an updated version of notes. So let's know more about the history of paper currency in India.

Evolution of Money

Until the 18th century, silver and gold coins were commonly used in India. But as private European trading companies established their own banks in the region, such as Bank of Hindostan in Calcutta, they began issuing the early versions of India paper notes which were initially just text-based. This further popularised the use of paper notes. The Bank of Bengal went on to release notes that featured a small image of a female figure meant to represent the idea of ''commerce'' as well as bank's name and the denominations in three scripts : Urdu, Bengali, Dev Nagri.

After the Paper Currency Act of 1861, British colonial government got really involved in producing money. Till then money was issued by state alone, not by banks. The 1861 Act was the brainchild of James Wilson, finance member of Indian council & finance minister of colonial government. In 1843, he also founded ''The Economist newspaper'' & founder of ''Standard Chartered Bank''.

''Victoria Portrait Series'' is very first paper notes officially introduced by government in the denominations of Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 & Rs.1000. Notes detail provided in two languages. Interestingly when money had to be securely transferred across distances, paper notes were sometimes cut in half, with one half being sent by post first & second half sent only after the first reached the destination.

As British era past down, the styles, colors and features of paper money had also evolved starting with George V in 1923. All these notes were printed by Bank of England until India's first currency printing press was established in Nasik in 1928. After 4 years, this press was producing all of India's paper currency. In 1935, RBI came into the picture & change all the scenario.

Updated Version of Money

RBI took several years to launch its own notes due to many reasons. In 1938, RBI's first note was issued featured a portrait of King George VI. After Independence in 1947, India demands for a new notes with new look & with new identity. First pure Indian note came out in 1949. This was Re.1 note which had image of Lion capital of Ashoka at Sarnath which also become the official emblem of India. Over the next few years, RBI released notes of different denominations featuring different images like Mumbai's Gateway of India & Brihadeeswara temple in Tamil Nadu's Thanjavore town. In 1960's notes began to print in different colors to help those who cannot read. This time RBI motifs oriented towards Indian art forms & symbol of scientific and economic progress.

Here is the link of RBI money museum where one can see all types of Indian notes ever produced in Indian history.

https://www.rbi.org.in/currency/museum/p-newiss.html

https://www.rbi.org.in/scripts/pm_indofrench.aspx