One of the major advantages of hybrid blockchain is that, because it operates within a closed system, hackers cannot target the entire network. It provides some privacy while yet allowing communication with third parties. It also has higher scalability than a public blockchain network, and transactions are inexpensive and quick.
Companies utilise a hybrid blockchain system to operate their operations privately while making some information available to the public. The hybrid model is used by the retail and real estate industries to simplify their procedures. Hybrid blockchains are being used by the medical industry and government agencies.
1. Real change for rural America
According to a recent research by BroadbandNow, more than 40 million individuals in the United States – many of them in rural regions – lack dependable access to high-speed internet. Simple economics is one of the main reasons for the lack of coverage in these locations. Building the necessary broadband infrastructure in rural places can be twice as expensive, and there are significantly fewer people to help pay for it, making it cost-prohibitive for providers and pricey for users.
However, there are hints that this is beginning to change. The new infrastructure package, which includes more than $65 billion for broadband, offers a once-in-a-generation opportunity for the extension of high-speed access to underserved regions while also increasing consumer affordability. I’ve spoken with government officials who are ready to put this money to work for their residents.
Furthermore, a groundbreaking new wireless technology known as 5G fixed wireless can give very high-speed connectivity to households and businesses, giving dependable internet access in remote locations rapidly and affordably. Fixed wireless investments have the added benefit of providing improved 5G mobile broadband for customers, allowing them to stay connected at home and on the go.
I believe that 2022 will be the year when we make major headway in connecting rural America and connecting everyone to the digital economy.
2. Internet of Things goes mainstream
This is a song you may have heard before. The Internet of Things (IoT) has been hyped for years, and while tremendous progress has been made toward the ultimate goal of a linked world, the hype has so far surpassed the results. However, corporate executives I’ve met have offered specific examples of how IoT technology is beginning to realise its full potential, owing to the widespread availability of 5G networks, which provide the steady, fast connection that IoT devices demand.
By tracking the position of thousands of assets, such as beds, medical equipment, and specialised tools, as well as monitoring temperature-sensitive pharmaceuticals, hospitals are cutting expenses and enhancing patient care. Precision agriculture enables farmers to automate irrigation systems and monitor soil condition, allowing them to save money and resources by only applying water and fertiliser when and where they are needed. With security cameras, smart watches, and low-cost item tracking like AirTags, customers’ expectations that everything can be tracked and connected are becoming a reality.
According to CTIA, there are approximately 190 million IoT devices in the United States, accounting for more than 40% of all wireless devices. I believe that 2022 will be the year that the Internet of Things finally breaks through the hype and begins to deliver on the promise of a future where everything is linked.
3. Connecting for togetherness
Reversing the tendency of technology that isolates us online and instead helping us interact in real life is maybe the most significant shift I envision for 2022. And the signs are in place.
Phone conversations, text messaging, video chats, and even social networks have all been used to bring people together in the past, allowing us to reconnect with old acquaintances and share key life events. However, most of today’s online social dialogue is contentious, venomous, and even life-threatening. When people can hide behind digital masks and speak with nameless and faceless receivers, any online contact may quickly deteriorate into a “we vs. them” division.
Personal communication is steadily increasing, which is encouraging. One-on-one text messaging is on the upswing, and after years of dropping year over year, phone calls per user on our network grew in 2021, indicating that people are engaging with each other directly rather than through social media.
I’ve also noticed a trend toward limiting the harmful echo chambers of social media, with teenagers – like my kids – frequently leading the way. They are becoming more aware of the consequences of living an always-on, connected existence. They understand the worth of their personal data and are emphasising sharing experiences with individuals they like…their friends…rather than focusing on ‘likes’ and’shares.’
While much work has to be done to keep the online world safe and entertaining for everybody, I believe that 2022 will be the year when the pendulum begins to swing away from technology that separates us and toward relationships that bring us together. So, let’s leverage connections to bring people together. Make a phone call to someone you care about first. Then turn off your phone and spend time with your family.