Enterprise Mobility, Mobile Infrastructure
Article | June 16, 2023
Antennas are fundamental to the performance of connected devices, but are often implemented as an afterthought, resulting not only in sub-optimal performance, but also in less-than-ideal form factor. It can also have a negative impact on cost for the device as a whole. It is therefore essential that organisations prioritise antenna design as part of a holistic device design philosophy – bear in mind that it is practically impossible to fix bad antenna design. Early decisions need to be made regarding the relative merits of embedded or external devices and then attention can turn to optimising antenna integration.
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Unified Communications, Network Security
Article | July 10, 2023
Blockchain technology has the potential to transform the way businessesoperate.As a result, it has gained tremendous momentum and is no longer the utopian dream of a few crypto enthusiasts. According to a Deloitte report that surveyed more than 1300 senior executives worldwide, 53% said blockchainin businessis a priority. Also, PwC highlights thatblockchain alone can add $407 billion to the GDP of the USA by 2030.
Blockchain is cementing its position in the market and is expected to be worth $163 billion by 2027, according to Statista. The time has come for digital businesses to harness the power of decentralization and incorporate it into their everyday processes.
You simplycan’t lose out on the business opportunities that this technology has tooffer simply because you are living under a rock. In this article, we will discuss how using blockchain for business can make a huge difference in your business process. Let’s first begin by looking at the challenges faced by traditional business models.
Challenges Traditional Business Models Face
A growing business encounters several challenges, and different problems demand different solutions. Mentioned below are some of the challenges that traditional business models often encounter.
Time-Consuming Processes
In a business operation, all processes function as separate entities. Teams often find themselves looking for, gathering, and analyzing the same data to make decisions.
As a result, the teams must rely on a lot of third-party intermediaries to runtheir business processes smoothly. This adds to the time and complexity of the processes.Use of blockchain technology can help to effectively do away with this challenge.
Lack of Security
Data security is another area of concern that can be taken care ofby storing data on the blockchain. Data that is storedin the cloud or a centralized storage facility, is vulnerable to security breaches. The traditional business ecosystem, data, and stakeholders are unprepared for the considerably more intelligent and ever-changing hackingtechniques. As a result, important and confidential data can get breached and compromised.
Payment Barriers
Payment transactions are often more complicated, time-consuming, and costly due to the diversity of currencies and parties involved. Blockchain technology promises to make processing payments and other transactions around the world faster, safer, and cheaper by getting rid of the need for mediators like correspondent banks and clearing institutions.
Payment barriers are another problem that the adoption of blockchain business models can ease.
Shoot-up Your Business Growth with Blockchain Technology
Blockchain in business is aiding the transformation of business across industries all around the globe. Blockchain is transforming supply chains, banking and financial services, healthcare, government, retail, and other industries.
Here are some statistics that demonstrate blockchain's significance in strengthening industries:
The financial sector contributes to around 30% of the market value of blockchain. (Statista)
By 2028, the value of blockchain in healthcare will be $1189.8 million. (Vantage Market Research)
By 2026, the value of blockchain in agriculture and food will be $1.48 billion. (BIS Research)
In 2022, the blockchain market in the manufacturing industry will be worth $85.64 billion. (Globe Newswire)
Accelerates Your Business Processes
Blockchain is taking a central role in the ongoing digital transformation process. In digital transformation, time is one of the most critical factors that keeps you ahead of the curve. Moreover, business operations that use a blockchain to store and transfer data provide high levels of security.
On this basis, you can create completely automated transactions in various business domains. This method is not only dependable and safe, but it is also exceedingly fast.
Improves Your Online Security
Encryption and validation are two significant advantages of mainstreaming blockchain technology. Every operation and communication that happens online will be encrypted. It protects against data alteration. Due to its distributed nature, you can verify that no one has altered even a bit by checking signatures across all nodes.
Blockchain in business will be helpful for storage, private messaging (between companies/clients or friends on social media), safer DNS, and IoT security. Blockchain use in business will enhance cybersecurity, but this transformation won’t happen overnight, it will take years before it impacts the ways in which we use the internet.
Eases Online Payments
While online transactions are safer than ever, users' data is still at risk. However, this decentralized platform can make payments transparent and tamper-proof in the financial ecosystem.
Decentralized blockchain technology protects data. Simply put, it allows you to make payments without a payment processor.
Blockchain technology protects financial transactions by removing central points of failure and minimizing errors. This helps in saving time and money. In addition, blockchain technology ensures that transactions remain unaltered and only those involvedcan see the history.
A Game-Changer in the Supply Chain & Logistics
Anything that can conceive of as a supply chain, blockchain can vastly improve its efficiency - it doesn’t matter if it’s people, numbers, data, money.”
- GinniRometty, CEO of IBM.
The integration of blockchain simplifies supply chain and logistics work. The blockchain's decentralized nature ensures maximum transparency in every transaction in the supply chain, from raw material purchase and manufacture to distribution and sale of the finished product. At a minimal cost, each transaction can be promptly and readily documented on the blockchain. There are very few risks this way, because the final buyer can track a product's origin along the whole supply chain.
Reduces Operational Cost
Blockchain-based smart contracts are a boon. Businesses can make and receive online payments through some set guidelines. Brokers, escrow agents, and other intermediaries are excluded through smart contracts. Smart contracts are self-executing programs that safeguard the interests ofall parties. These contracts use unbreakable cryptographic code and automatically implement contract terms.
Lastly, smart contracts keep track of all consumer, worker, and stakeholder activities. Many global corporations use smart contracts to perform essential HR and administrative tasks.
What Does Blockchain Mean for Entrepreneurs?
Blockchain technology is so much more than just a technology used for cryptocurrencies. For a commoner, whenever we talk about blockchain, the first thing they think of is bitcoin or cryptocurrency. However, for businesses and entrepreneurs, blockchain is more than just a cryptocurrency. Let's take a look at the ways in which blockchain technology can empower business leaders.
Case Study
Blockchaintechnology is being rapidly usedin the logistics industry.The main advantages include higher confidence in the system due to greater transparency, improved product traceability, and cost savings by eliminating manual and paper-based administration.
One such example Tradelens, a blockchain-powered open and neutral supply chain network, is one example. It was founded by IBM and Maersk and has expanded to 150 members, including some of the world's largest logistics companies, including CMA CGM, MSC, ONE, and Hapag-Lloyd. In 2020, it claims to have made businesses 15% more efficient by letting them get rid of legacy data systems, manual document processing, and limited visibility. By 2050, it claims to have made them 15% more efficient.
Final Thought
Blockchain technology is theinevitable future, and its use is no longer restricted to crypto transactions. In the coming years, blockchain development solutions will be used ineCommerce marketplace, peer-to-peer financial transactions, content distribution, healthcare data exchanges, supply chain, and customer services.
Blockchain applications are no more the pie-in-the-sky dreams of early adopters. This technology has the potential to revolutionize practically every sector and solve your company's greatest challenges. Smart and strategic use of new technologies, can make your company more secure, transparent, and ready for whatever comes next.
FAQ
What Is the Impact of BlockchainTechnology on Business Models?
Blockchain implementations can minimize transaction costs such as negotiation and search expenses and eliminate intermediary costs. This means that by 2022, blockchain technology is expectedto cut costs in the financial sector by$15–$20.
What Is the Size of theBlockchainMarket?
The global blockchain market was valued at $1.57 billion in 2018 and is expected to more than triple to 163 billion USD by 2027.
What Does BlockchainMean for Business?
A blockchain is a digital record of who owns what, and it is constantly updated. The time, date, dollar amount, and participants in a transaction are encrypted into a "block" that is connected to other blocks to create a chain.
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Network Infrastructure, Network Management
Article | July 27, 2023
The increasing use of mobile applications and digital payment services has not only paved the way for new banking models, but also highlighted the importance of user experience in digital banking. Banking applications are now developed completely on cloud, support multiple platforms, and use AI/ML extensively. Security, a critical aspect of digital banking, has transformed with innovative capabilities like self-service identity verification, passwordless access, risk-based multi-factor authentication (MFA), behavioral analytics, and encryption capabilities.
The underlying reason for developing the above-mentioned capabilities is to provide consumers with a secure banking experience, where they can access their financial data without fear and conduct transactions with ease. For the bank employee, it is all about working with the latest digital services and securely accessing them from anywhere. It is important to understand that user experience, be it consumer or workforce, is all about providing convenience and establishing trust. Only then can a financial institution remain ahead of the competition.
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Wan Technologies
Article | August 23, 2022
In the United States, private networks saw the sun for the first time in the early 1970s by AT&T. The networks were majorly operated over telecommunication networks. In the 1990s, with the evolution of Internet technology, a new type of network known as virtual private networks emerged. This type of network was built on public infrastructure, and the data was encrypted to protect it from eavesdroppers.
Nowadays, networks developed by businesses are called Enterprise Private Networks (EPN) when privacy is maintained via security processes and tunneling protocols such as Layer 2 Tunneling Protocol.
The objective of an EPN is to provide high-speed internet access and data sharing within an organization. Businesses can utilize Wi-Fi in their workplaces to share internet access and resources. This type of private network also employs routers, switches, fiber optics, virtual devices, and modems. Security is also a significant factor while developing an enterprise network. Different firewalls are set at access points to ensure safe data transfer between systems.
Enterprise private networks can be built in various ways, including:
Virtual private network (VPN)
Local area network (LAN)
Wide area network (WAN)
Cloud-based networks
Let’s dive deeper into EPN.
Enterprise Private Network: Reasons to Deploy It Today!
Giving its intended objective, enterprise private networks can be considered to provide a variety of conceivable benefits to an organization.
Enhancing Network Security
A company must adhere to strict procedures to safeguard its security. Networks are vulnerable to cyberattacks, and some business data contains sensitive information that might be lost or acquired by the wrong people. However, data circulation is critical to long-term business operations, which is why incorporating an enterprise private network is a wonderful way to keep security issues at bay even while allowing the organization to more easily manage its critical operations. This is a key reason why most businesses do not hesitate to use EPN, regardless of how difficult it is to set up or the upfront costs associated with it.
Economizing Measures
Keeping overheads to a minimum is critical for achieving a convincing ROI at the end of the day. Most businesses take stringent steps to ensure that they remain profitable. Cutting major expenditures is a helpful technique to do this, and the deployment of EPN is a perfect example. Because important business data can be exchanged over the network where key stakeholders can access it, the expense of physically transferring data and resources from one place to another is reduced. Moreover, a significant amount of valuable time is saved since any type of data and resources can be uploaded across the network in a matter of minutes.
Centralization
Another important element that is essential to an organization's success is business continuity. Different departments of an organization are interconnected to one another through an enterprise private network and can effortlessly share resources with one another. As earlier stated, it enables time efficiency and allows companies to keep progressing toward gradually achieving their day-to-day demands.
Enterprise Private Network: A Catalyst to 5G Digital Transformation
Businesses now depend on technology that has undergone significant transformation in recent years. Organizations are increasingly relying on feature-rich apps to operate their operations and drive innovation. Connectivity is at the heart of keeping everything operating smoothly and effectively, and 5G is expected to provide even more pace and potential. 5G is enticing because its infrastructure differs from prior generations of cellular networks. The 3G and 4G networks were designed with hardware-based network operations in mind. 5G, on the other hand, is 'cloud-native,' with network functions stored in software as a Virtual Network Function (VNF) or Cloud-native Network Function (CNF). 5G has the ability to drive digital transformation for companies and organizations by providing faster connection speeds, reduced latency, higher capacity, and better security. Organizations can obtain significant business advantages in automation, security, and safety when 5G is used in combination with a private cellular network.
The Importance of 5G on Private Networks
Speed
5G provides better bandwidth than 4G LTE networks, which is critical for data-intensive applications.
Latency
Robotics, manufacturing, remotely operated systems, and vehicle-to-vehicle communications all need low latency.
Network Slicing
The 5G network core offers network slicing, allowing network operators to virtualize network traffic, often in a cloud-based flexible environment.
Increased Connection Density
5G will ultimately support 100 times more connected devices per square kilometer, up to one million devices.
Multi-Access Edge Computing (MEC)
5G Multi-Access Edge Computing (MEC) moves computational power closer to the network edge, reducing the time required to send data to a centralized data center.
Wi-Fi 6
While 5G has considerable benefits over Wi-Fi, the new Wi-Fi 6 version also has greater capacity, reduced latency, and faster speeds than its predecessor, Wi-Fi 5.
Industries Leveraging EPN to Enhance Their Capabilities
With the expanding digital transformation, business interest in private networks is growing. Enterprises can deploy such networks to explore a broad range of wireless use cases and provide access to areas that are not covered by a public network. These networks can also be customized to meet the needs of certain industries and businesses. With the arrival of 5G, private networks enabled by the technology are positioned to stimulate innovation and allow next-generation enterprise transformation across a wide range of industries. Industries leveraging 5G-enabled enterprise private networks are:
Healthcare
Healthcare tops the list of rapidly growing industries, requiring private networks. The unprecedented burden caused on healthcare systems worldwide by the COVID-19 pandemic has driven the need for improved connectivity and modernization of infrastructure, prompting hospitals to establish private networks.
Manufacturing
The manufacturing industry is undergoing a significant digital transformation, which is enabling various new use cases like automated manufacturing. In the industrial arena, private 5G networks play a critical role in increasing the density and efficiency of automation technologies like collaborative mobile robots, automated guided vehicles, AR predictive maintenance, and virtual reality remote devices.
Smart Facilities
By reducing the reliance on third-party wireless service providers, private 5G networks enable these establishments to build and install the infrastructure most suited to their digital transformation roadmap.
Logistics
Another high-potential use case for private 5G networks is the logistics industry. With increasing global e-commerce adoption, the continuous movement of products through all logistical checkpoints—including warehouses, ports, and distribution centers—must be monitored and linked through a diverse variety of corporate mobility devices.
Mining
Another industry with significant potential for private 5G networks is mining. Mine operators want dependable wireless connections in order to leverage digital technologies, but they are often unable to introduce wireless communications to underground locations while still meeting the essential connectivity demands of machinery and mobile employees in open-pit locations. Private networks, which have fewer access points than Wi-Fi, can overcome these difficulties by providing a stable and widespread internet connection to machines, vehicles, and workers throughout a mine. This leads to improved safety, increased production, and a lower carbon footprint.
Some of the other industries are Oil and gas, Education, Ports, Smart Cities, etc.
Rising Demand for Enterprise Private Network (EPN)
As per research analyst Leo Gergs from ABI Research, there are a couple of factors that are causing the surge in demand for private networks for enterprises. These factors are:
Rise in demand for automation and enterprise digitalization in every sector of the market, including industrial manufacturing, logistics, oil and gas, etc., because of COVID-19.
The private 5G network has arrived, bringing with it irresistible features and use cases for businesses from all industries.
Private networks depend on technology from both public carrier networks and business IT, bringing together two disciplines that had previously evolved in quite distinct directions. Industry digitalization, the convergence of telecom and IT, edge migration of cloud apps, and increased spectrum availability are all combined to set the scenario for exploding demand for private 5G. A private 5G network is an enterprise-specific network that offers communication connections to people or items belonging to a single company as well as unique services required for the enterprise's operations. Enterprises across sectors are crunching the math on private 5G, from factories to farms to hospitals to hotels.
According to ABI Research, heavy industrial verticals will increase demand for private network installations. Industrial manufacturing and energy production (including mining, oil and gas, and logistics) will contribute $32.38 billion in private network revenues by 2030, accounting for half of the $64 billion in total private network revenues. The need for private 5G networks is increasing as 5G arrives, allowing compelling business use cases and favorable legislative developments on spectrum availability for corporations. TBR projected that the market for private 5G networks would reach $7.5 billion by 2025, rising from $200 million in 2020.
Carving the Future
With every new cutting-edge technology comes a leap of faith. Businesses and industries can expedite their digital journeys by using 5G private networks to offer secure connections while gathering and managing huge amounts of business-critical data. Private 5G is not simply a new paradigm for network operators; it's also an incredible opportunity for public and private organizations to unleash efficiency, exploit real-time data, and boost revenue.
FAQ
How Does Enterprise Private Network Work?
An enterprise private network is a business computer network that allows business organizations with several offices to securely connect to each other through a network. The primary purpose of an enterprise private network is to share system resources.
How to Set Up Your Private 5G Network?
To build a private 5G network, businesses need to:
The first step is to get the spectrum right-to-use.
Acquire 5G equipment such as base stations, mini-towers, and small cells from network equipment or infrastructure providers.
Integrate equipment with edge devices like smartphones, routers, sensors, etc.
What Is the Cost of Building a 5G Network?
A modest tower and 5G cell site will cost between $30,000 and $50,000. If the wireless network is to function during a power failure, the cell site will also need commercial power and batteries.
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