Digital Tech_Ch. 6
Apple and streaming
-Apple was late -Not paying attention to spotify -Bought beats for the streaming capabilities
Two characteristics of disruptive tech
-Come to market with a set of performance attributes that existing customers don't value -Over time performance attributes improve to the point where they invade established markets
Concerns of crypto
-Consumer benefit needs to be stronger -Difficult to understand for little benefit -Security concerns -Volatility -Can't handle increasing transaction volume
Create the killer app
-Don't be blind (Don't listen to customers and financials) -Identify technologies (Talk to people) -Manage a portfolio of innovations (Separate resources and hedge)
Why leaders fail
-Existing profit -Existing staffing -Customer pressures *graph
Applications of blockchain
-Follow food safety -Tracking sales
Who uses bitcoin and blockchain
-Foreign remittance -Retailers -Seeking anon transactions
Big chip
-Intel -AMD -ARM
Benefits of crypto
-International commerce -Lubricate areas that don't accept paypal
Challenges of bitcoin and blockchain
-Needs stronger consumer benefit -Hard to use -Bad rep -Uncertainty -Security -Volititly -Limited infrastructure
Benefits of blockchain
-Ownership records are transferred person to person without a intermediary -Straddle the line between transparency and privacy (all recorded in the open but can be anonymous) -Faster and cheaper financial transactions -Gives an ownership stamp to things like cars (repair history)
Cryptocurrencies
A digital currency where a secure form on math is used to handle transactions, control the creation of additional units and verify the transfer if assets
Blockchain
A distributed and decentralized ledger that records and verifies transactions and ownership, making it difficult to tamper with or shut down
Liquid
An asset that can be easily turned into cash
Bitcoin
An open-source, decentralized payment system (sometimes controversially referred to as a digital, virtual, or cryptocurrency) that operates in a peer-to-peer environment, without bank or central authority.
