Yandex Technology Distribution Executive Praises the Blockchain Technology

News and Analysis

Speaking at conference Feedback on December 23, Grigori Bakunov, technology distribution executive at Yandex, introduced several possible major technological trends for the forthcoming years. Among other things, they include the blockchain technology, the internet of things, and artificial intelligence.

Explaining his views on smart objects and bitcoin, Bakunov said:

“Thank god, people realized bitcoin was a concept no one had to accept ‘as is’. Bitcoin is a concept around money; but at its core, underlying it is the blockchain technology, which is very interesting as it is. It could build brand new, totally magical things without using internet. It is a scheme which allows for distributed construction of a monetary/non-monetary system of some kind. Right now many companies I know of are working on improving the technology to apply it in the internet of things. The very technology of blockchain will be extensively used by the whole fintech [industry] next year. Thank god, it will go beyond it.”

Speaking about the internet of things, Bakunov tried to explain the challenges and the semantic issues behind the matter:

“The internet of things [is the next trend]. Frankly, this expression pisses me off. In fact it is an infinite number of means to connect anything to anything else. Don’t think it is internet. In fact, everything will probably be completely different.
“[When people talk about the internet of things,] they usually mean very different things. Say, a WiFi-controlled lightbulb. It’s a practical stuff, I’ve got six of them at home. But it’s not the internet of things, it’s just an internet-controlled lightbulb. Sensors underneath my sink in the bathroom tell me I haven’t started flooding my downstairs neighbors as yet; but it’s a mere sensor which gives me some data, it’s not the internet of things. But for some reason, the modern world thinks it is.
“Do you know what’s the greatest challenge for the world of endlessly connected devices? Imagine your jeans, your shirt, and every other wonderful item of your clothes has some intelligence. It may tell whether it’s dirty or not. Imagine every item at your home exchanging some signals. To my reckoning, there are 5 to 10 thousand items at my home, depending on the season. It’s not just clothes, it’s everything, including mugs, spoons and forks just reporting they’re clean. Five thousand objects! There are about a thousand apartments in an average multistoreyed house. And ten thousand devices in weach of them. It makes it ten million objects for a single building. The problem of connecting all those devices to each other is a monstrous problem no one has solved so far. No one even tries to solve it.”

Bakunov mentioned the blockchain again during his talk about the artificial intelligence:

“There are lots of interesting insights, which allow using blockchain as a substrate for data transmission within an AI system. The concept is terribly interesting, and it’s about to work the next year.”

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