The world is drastically evolving towards the new horizon of a digitalized ecosystem. From daily routine purchasing to business investments, from manual traditional payment methods to the online transfer of money, almost all businesses are moving towards paperless processes as well as digital currencies, and multiple projects are being worked on in this domain. Digital currency, also called cryptocurrency, is a source of the online exchange of value just like normal currencies.

What is Cryptocurrency?

A cryptocurrency is an advanced or virtual money that is obtained by cryptography, which makes it almost difficult to utilize it double-time or to fake it. It has decentralized networks of online currency dependent on blockchain innovation, which is an enforced distributed ledger by a network of multiple computers. Cryptocurrencies are frameworks that consider secure online payments which are designated as virtual or digital tokens, which are addressed by ledger entries within the system. “Crypto” alludes to the different encryption calculations and cryptographic strategies that defend these entries, like key pairs of public-private keys, hash functions, and encrypted elliptical curve.

Programming Features in Cryptocurrency:

The programming features that are used in cryptocurrency development include the following that together makes-up a complete flow of cryptocurrency.

1. Pointers:

Pointers store the address of the variable in a programming language. In the language that does not support pointers like Java, references (implicit pointers) can be used to call a specific function where you can call an address by referring to it.

2. Linked Lists:

It is a block sequence of data that is linked to the next pointed block. In the blockchain of a cryptocurrency, it contains information like a hash of the previous block, time, version, the target, and the Markle Root hash, etc.

3. Memory Control:

The memory control feature helps to efficiently implement the function of consensus in blockchain that means all the blocks must accept or reject a certain specified block. It plays a crucial role in the online service of a cryptocurrency that is an ongoing process.

4. Threading:

Threading assists in the integration of parallel & non-parallel transaction nodes to provide optimized performance.

5. Copy & Move Semantic:

The feature of copy and move semantics reduces the redundancy up to a greater extent in a blockchain sequence.

6. Polymorphism at Compile Time:

By the polymorphism at compile-time, one feature can be used in more than one way while a transaction is being processed via function overloading along with overloading of operators.

7. Code Isolation: 

Code isolation refers to unique code like using namespaces in C++, packages in JAVA, etc.

8. Maturity:

With the continuous updates of a language to overcome the real issues during debugging and analytics, the base of cryptocurrency keeps on updating, and thus, maturity of the language is obtained.

Working of Cryptocurrency:

1. Transaction Begins:

In our normal routines, any customer or money holder transacts money via internet banking or directly pays hard cash to exchange any value. Similarly, a cryptocurrency holder begins the process by requesting a transaction.

2. Peer-to-Peer Network:

Cryptos can remove the agent, as the blockchain network is not constrained by any entity. It is similar to a network organization that has libertarian affinities. The transaction is communicated to a Peer-to-Peer network composed of PCs that are called nodes.

3. Validation:

When a transaction is communicated to the network of organized nodes, the very next task is to validate the transaction along with the status of the user with the help of a pre-defined algorithm of the system.

4. Verification:

A successfully validated transaction by the node network is then verified with the information that is specific to that cryptocurrency, records, contract, or other relevant information.

5. Post-Verification Process:

After the verification of the transaction initiated by the user, the next step is to maintain its proper ledger. The post-verification process includes the under-mentioned activities.

a. Generating New Data Block:
The verified transaction is then integrated with the other transactions in the cryptocurrency ledger to generate a new data block.

b. Adding Block to Ledger:

The newly generated block of the transaction is amalgamated into the existing blockchain that is static and cannot be changed anyhow.

6. Completion:

After the amalgamation of the newly created block of transaction data into the blockchain, the transaction is finally completed.

Features of Cryptocurrency:

• A characterizing feature of cryptographic forms of money is that these currencies are not issued by any focal position, the central authorized entity that’s why delivering them is hypothetically invulnerable to government obstruction or control.

• These currencies have no intrinsic value that is not redeemable to another commodity such as gold.

• It has no physical existence and is present only in an online virtual network of computers.

• Its supply is not determined by a central bank and the network is completely decentralized.

Importance of Cryptocurrency:

1. Safety & Security:

The main and most focusing importance of cryptocurrencies is that these are the most secured and safe currencies available online. Cryptocurrencies ensure a safer and more secure way to invest money online and to conduct any transaction freely. It has a strong hashing algorithm for security that helps the digital currency’s security fool-proof.

2. No Third-Party Interference:

While conducting an online transaction, there is no involvement of third-party like banks or government, etc. as included in the policy of cryptocurrency. The network of cryptocurrency alleviates the presence of a third entity, irrespective of the country where you are across the globe.

3. Low-Cost Transactions:

While exchanging the value of the cryptocurrency, the cost of the transaction is comparatively very low. The user is just required to input basic information regarding cryptocurrency while initiating a transaction.

4. Charge-Free Safe Wallet:

Cryptocurrency also frees the user from the cost of keeping the money in his wallet, unlike a bank that charges money to keep your money in your account. Wallet of cryptocurrency is safer facilitating its users by providing space free of charges and it can easily be transferred to your account.

5. Privacy:

Privacy is the primary foundation of cryptocurrency. It is a strongly secured and hashed transaction process that pays high attention to the user’s confidentiality as it is the top-most priority.

6. Liberty of Fractional usage:

Cryptocurrencies can also be bought as infractions as it has the liberty of fractional usage. This increases the flexible utilization of cryptocurrencies and investing them in business processes and trade purposes.

7. No need to share credentials:

The initiator of the transaction (sender) and the receiver of the cryptocurrency do not interact with each other directly, it is crucial to keep the credentials of digital currency secure as transactions are autonomously requested. The security network allows the user not to share the credential to proceed with currency transfer.

8. Autonomous control over your value:

As there is no third entity involved in cryptocurrencies, the users have complete autonomy and no one can charge any fee. Users individually manage their respective accounts.

Cryptocurrency in Pakistan:

State Bank of Pakistan (SBP) has previously said that SBP has neither granted license nor authorized any entity to deal in cryptocurrencies (Virtual Currencies). SBP has published a circular on its official site that denies all kinds of digital currencies to be used for any transactions like business trade, purchase payments, etc. But in a recent interview with the CNN channel, Governor of State Bank Pakistan, Mr. Reza Baqir said that digital currency is under study by the central bank. It was the first time when any SBP official said they are studying cryptocurrency in Pakistan

Final Words:

During the last few years, cryptocurrency has gained rapid public attention. State Bank of Pakistan has said that they are studying cryptocurrency and would introduce a rate policy to accommodate interest. Cryptocurrency is under study by SBP and it is expected to bring cryptocurrency in financial inclusion. Since digitized currencies would drastically alter the way of sales and purchase if officially introduced in Pakistan and would surely help every business sector and appeal dynamic investments for different projects and services from multiple investors within the country and abroad as well.

Artificial Intelligence (AI) alludes to the reproduction of human insight in machines that are customized to think like people and copy their activities. The term may likewise be applied to any machine that shows characteristics related to a human psyche, such as learning and critical thinking. The ideal trait of artificial intelligence is its capacity to legitimize and make moves that have the most obvious opportunity with regards to accomplishing a particular objective.

Categories of Artificial Intelligence:

Artificial Intelligence (AI) can be partitioned into two unique classes as follows;

• Strong AI:
  These systems convey human-like tasks. They will in general be more unpredictable and convoluted and are customized to deal with circumstances in which they may need to take care of an issue without having an individual intercede. These sorts of frameworks can be found in applications such as medical clinic working rooms or self-driving vehicles.

• Weak AI:
  It encapsulates a system intended to complete one specific work. Weak AI systems incorporate computer games like chess, Apple’s Siri, Amazon’s Alexa, etc. If you inquire anything, it responds to it for you.

Why should businesses use AI?

Nowadays, business is overwhelmed by the time of information. Organizations can acquire significant experiences on methodologies that can profoundly drive development from the information. Business measures in the 21st century are described by a significant degree of intricacy, including the tasks that are distressing and insufficient to be completed by people. It is essential to flourish and keep up importance inside the wild rivalry. 

Consequently, the requirement for organizations to particularly comprehend the necessities and inclinations of clients is priceless in the present business world. Utilizing artificial intelligence in business, organizations can now remarkably comprehend and connect with clients, automate business measures, improve profitability and income while lessening operational costs.

Role of AI in Business Growth:

Artificial Intelligence in business just includes the utilization of software that is intelligent like human abilities to help income, improve client experience, increment revenue, and productivity, and drive business development and change.

• AI in Business Intelligence (BI):
  The tools of Business intelligence (BI) are going through gigantic disturbance. The incredible coordination of AI structures like characteristic language handling and mechanized prescient experiences are changing how BI can help organizations.

• AI in Mobile Apps:
  AI is assisting the developers of Mobile applications to make the relentless rivalry a problem-free process for mobile users. Since the approach of this innovation, the business has changed for the customers and the retailers as well. Similarly, AI-empowered applications essentially affect client’s connections with brilliant smart devices.
  Embedded features of AI in mobile applications incorporate the technology of speech recognition, image recognition, biometrics, AI chatbots, natural language innovation, text recognition, and so on.

AI in Top Business Sectors:

1. AI in Engineering:
An artificial intelligence engineer is a person who works with conventional AI methods like handling machine learning and neural network organizations to fabricate models that power AI-based applications. The kind of uses made by AI engineers incorporates contextual publicizing dependent on sentiment analysis.

2. AI in Banking:
Computer-based intelligence is additionally being carried out by banks inside center office capacities to survey chances, distinguish and forestall payment extortion, improve measures for anti-money laundering (AML), and perform know-your-client (KYC) administrative checks.

3. AI in Education:
Artificial intelligence can assist in creating a unified vision among schools and between conventional evaluation levels. An instructor invests an enormous measure of energy in evaluating schoolwork and tests. Artificial intelligence can step in and make fast work out of these errands while simultaneously presenting proposals for how to close the holes in learning.

4. AI in Healthcare:
In healthcare, artificial intelligence is a general term used to portray the utilization of AI-based calculation algorithms and programming the AI-based software, to emulate human discernment in the investigation, introduction, and perception of complex clinical and medical care information.

5. AI in Shopping:
Uses of AI for retail locations could help organizations set costs for their items, imagining the feasible results of different estimating methodologies. To have the option to execute this, frameworks gather data about different products, limited-time exercises, marketing projections, and extra information.

6. AI in Industries:
Artificial intelligence and Big Data give Industry 4.0 an immense lift. Intelligent solutions of software can utilize the high volumes of information produced by a production line to recognize patterns and trend examples that would then be able to be utilized to make manufacturing measures more proficient and lessen their energy utilization.

7. AI in Logistics:
Simulated intelligence can make traffic more proficient, ease gridlock, reduce the driver’s time, make the parking simpler, and energize vehicles and ridesharing. As AI assists with keeping street traffic streaming, it can likewise decrease fuel utilization brought about by vehicles standing by when fixed and improve metropolitan arrangement planning along with air quality.

8. AI in Transportation:
It permits us to set aside time and cash in transportation since it helps in mechanizing different tedious processes and helps sought after anticipating. Artificial intelligence helps in coordination course enhancement, which helps in diminishing the expenses of delivery, which further guides in producing more benefits.

9. AI in Entertainment:
Artificial intelligence-based automation can help performers, entertainers, and content makers invest more energy in their art and convey more engagement essence in content. Production companies can get the benefits of AI-based forecasts by critical analysis of the target audience of the specific domain for decision making in advertising and marketing campaigns for promotion.

10. AI in Warehouse Management:
The proficient utilization of AI in eCommerce assists more the warehouses with interfacing using the cloud, permitting them to track and guide out the quickest method to dispatch products, auto-count product bunches with the help of image recognition and machine learning. This is how organizations are utilizing AI in the warehouses to turn out to be more proficient, improve platforms, and smooth out the process of packing are developing each day.

Ethical use of artificial intelligence

Artificial intelligence has vital uses in almost all domains of life with significant proofs and there is no doubt in the benefits that AI can provide to any business, but still, there are some ethical limitations that should not be violated while making advancements and adopting innovative methodologies.

• Biased Learning of AI System:
  This can be tricky because AI calculations, which support a considerable lot of the most exceptional AI tools, are just as brilliant as the information they seem to be given in training. Since a person decides what information is utilized to prepare an AI program, the potential for AI-based bias-ness is a characteristic and should be observed intently.

• Explainability of AI applications:
  For training AI-based systems, user data is required but it is a potential hindrance due to the rigid requirements of regulatory compliance. For instance, financial apps when disapproving credit is an automated process backed by AI but the decision was taken by the system is quite unexplainable that how the process has decided the refusal and on which parameters. This is why unclarified dynamic interactions need to be in ethical limitations which sometimes seems difficult.

• Real-world Data Training:
  The users who are planning to embed AI-based machine learning algorithms as a part of the real-world data need to consider ethics in the training process and endeavor to keep away from biasness. This is particularly obvious when utilizing AI calculations that are naturally unexplainable in the applications of deep learning.

Conclusion

According to Accenture, the effect of AI in business can expand profitability by 40% or more. As per the insights of the World Economic Forum on the effect of AI by 2022, more than 75 million human positions will have been supplanted by AI. At the same time, AI will make 133 million jobs, discarding the misinterpretation that the reception of AI will make people jobless.

With the inexorably tremendous amount of data accessible today and the continually developing inclinations and intricacy of clients, AI can drive business development through noteworthy bits of knowledge produced from client information.

In the last decade, technology has continuously evolved and one such impactful development has happened in the domain of Virtual Reality. It is needless to say much hype has been created in recent years about this technology. 

Known for popular use in the gaming industry this cutting-edge technology is now getting quite an attention in other industries such as education, healthcare, entertainment, fashion, military, engineering, media, sports, telecommunications, and many more. 

The recently introduced trend of virtual reality headsets accelerates this technology. However, the past has demonstrated that hardware and connectivity frequently have tended to lag what app developers wanted to achieve the desired user experience. However, it is not an easy job to create great VR applications.

Developers encounter several obstacles, some of which are harder to solve but somehow companies are working to resolve them. Irrespective of the big buzz and investment around these technologies, the business for virtual reality is still in its initial stages.

There are some major challenges faced by businesses when creating high-quality applications of virtual reality so let’s talk about it.

1. Expensive Development

High development cost is one of the main obstacles in the development of a Virtual Reality application. A basic virtual or augmented reality e-commerce development will cost between $15-25k. Furthermore, headsets are another aspect of the issue.

Some basic VR headsets are more costly than the average accessories of smartphones like cover and headsets. The expense of creating a VR application largely depends on integrating optics with high accuracy and it takes a large volume of investment. 

However, it’s only a matter of time, when the technology advances and developers gain a deeper understanding of producing the products that raise the demands of VR products so that cost spend can be recovered.

2. Public Interest

VR is simple to market to “gamers” but it is not commonly regarded by the public as a viable product. One of the top reasons is that many people don’t know what VR can do. However, this obstacle can be overcome by marketing and creating awareness of virtual reality and their technologies. 

Another way to handle it is to encourage people to explore it by themselves. It seems that the days are still far off when people use VR headsets for anything other than games.

3. Hindrance in Technology

The biggest challenge with modern devices like smartphones and tablets is the incompatibility. The technology used in smartphones to take images and videos is not the required content that interfaces with VR. 

Besides, this technology is very bandwidth-intensive. Although high-end computers are certainly designed for it, they are still too expensive to be used to. 

For VR implementations, a power-based constraint is the most apparent obstacle. Batteries have their limits and you must keep in mind that VR / AR (or other graphics-intense) applications use high levels of power. 

This implies that during the design period of an application, these limits must be taken into consideration.

4. Data Privacy

Cybersecurity and data protection in any sector is a sensitive matter. Since the technology is new, it is highly critical for the VR industry to come up with an effective solution. 

Improper encrypted user data submitted as part of the registration and payment procedures to virtual reality creators and related device applications have more risks of a data breach. Furthermore, another possibility of the hacking of records and other private information when products are in service can do lots of damage.

The smallest negligence will lead to severe privacy concerns for users and it could lead to less or no approval of the audience or trust of an investor. 

Though developers are continually modifying the condition and taking precautions according to known threats, still many are unknown in VR.

5. Health Issues

The effects of VR in human health is still unknown and is a topic of great debate. One of the critical issues in the growth of the whole industry is how VR-gear affects health.

Generally, initial findings have found that most adverse health impacts are short-term, with no permanent effect on the user but the long term effect of virtual reality is still unknown.

Conclusion

VR is a great new technology and there will be a wide commercial base for all variations in virtual reality in the long term. The fact that many giant tech companies recognized its worth and its promising future.

Developers are working tirelessly to overcome these challenges, it is just a matter of time to get a better understanding of the techniques to carry out the products in the market that will make VR grow.

Amongst the chaos of 2020, the most popular movement that came forward is the accessibility of medical services through mobile health applications. While the emphasis of these apps has already been on development for some years, the market for mobile health care applications with COVID has increased significantly. 

Different healthcare professionals and organizations are investing in the advancement of healthcare technologies to improve the standard of service and promote self-management behaviours for patients.

Innovations seek to simplify and improve the existing procedures, as well as to build new ways of providing health services. The medical system focuses on creating strong cooperation between hospitals, patients, and third-party providers. They evaluate the overall market condition, focus on public health, and introduce the specific models of treatment.

Quick and convenient access to the appropriate service has profoundly changed the regular patient experience and the interactions between patients and health care providers.

HEALTHCARE APPS FOR PATIENTS

One of the aims of efficient healthcare software development services is to provide patient-centered care. The healthcare app makers focused on groundbreaking designs that can offer ease and availability to have fulfilling clinical care.

Besides these, a further challenge is to reduce the expense of creating healthcare applications to allow treatments accessible and competitive for everyone. Health care companies should be competent in delivering a quality product by following consumer demands and customizing the software.

HEALTHCARE APPS FOR MEDICAL PERSONNEL 

Just patient-centered cannot thoroughly apply until the production company of healthcare applications insists on the interests of medical professionals. Information technology is not targeted at removing doctors but rather at empowering them and encouraging them to concentrate on patient-oriented, productive practices.

Doctor-oriented apps enable medical personnel to concentrate on day-to-day activities, sustain systems of medical services, and level of quality treatment.

FEATURES OF HEALTHCARE MOBILE APP DEVELOPMENT

Even though the creation of healthcare apps covers too many fields and offers specific features, several items will be similar to the production of a medical device. Any mobile application development firm in the healthcare industry is expected to follow the defined prerequisite standards for the development of such devices.

DATA PROTECTION 

The most significant obstacle for digital devices in healthcare is shielding confidential patient information from unauthorized entry. As patients and healthcare professionals are increasingly utilising these devices to capture and exchange health-related details, particular consideration needs to be paid to the protection of mobile data.

An application development firm needs to maintain the maximum protection and security of a patient’s records, including private details, login details, and financial information. Furthermore, with the advent of emerging technology, data security is expected to change as a modern phenomenon in the creation of healthcare applications.

TELEMEDICINE SERVICES 

Long schedules for a medical exam or a doctor’s consultation are a big issue in the pharmaceutical industry. The absence of primary care services also contributes to health degradation. Telemedicine, though, has answered the question adequately. 

Telemedicine is one of the most growing medical IT segments. Telemedicine, as the term implies, includes utilizing devices to share knowledge on medical issues. It is easy, cost-effective, and provides easy access to reputable physicians.

CLOUD-BASED SOLUTIONS 

Cloud-based Electronic Health Information (EHR) systems allow it easy to track hospital data, medical expenses, payment coverage, and more. Cloud-based technologies enable mobile device applications to the healthcare industry more available. The health service company provides improved data protection at a reduced rate through cloud-based technology.

PAYMENT SERVICES 

It is no doubt a case of organizing cash and getting reimbursement during a significant emergency. With the broad acceptance of electronic payments, data transactions have rendered access to medical care facilities simpler, particularly in medical emergencies. There are plenty of transaction forms that can build into a digital healthcare device, such as e-wallets, payment hubs, and more.

PERKS OF HEALTHCARE MOBILE APP DEVELOPMENT 

Healthcare applications are now one of the most potent resources for delivering health-related services to everyone with internet access through smartphones.

These apps have significant advantages, such as healthcare professionals may connect with patients through the healthcare app and save time. 

The app helps physicians to locate the details they require quickly. Furthermore, these apps grant permanent patient access whenever they need it, no matter what day or night. Hence patients may use the healthcare app to obtain the response to their questions, converse with their physician, or read any documents. 

Also, the apps reduce cost, and it lowers expenses as patients speak with physicians without needing to see them in reality, which lets patients minimize all expenses. 

Conclusion

Amidst the COVID-19 pandemic, the value of the mobile medical device is growing substantially. Modern technology has managed to improve software technologies for patients and emergency professionals alike. Those technologies continuously shift the healthcare industry’s mindset with groundbreaking software changes.

Codelabs has the honour and trust to be a significant personalized service company in the Pakistan healthcare sector. We have skills in the creation of smartphone applications for healthcare, where we strive tirelessly to deliver one of the most innovative and responsive medical applications.