Tech Icons - Technowize https://www.technowize.com/resources/tech-icons/ Wise Word on Technology and Innovations Fri, 09 Feb 2024 13:44:06 +0000 en-US hourly 1 https://www.technowize.com/wp-content/uploads/2020/04/favicon-32x32-1.png Tech Icons - Technowize https://www.technowize.com/resources/tech-icons/ 32 32 Building Bases with Blockchain Technology: XYO CEO Arie Trouw https://www.technowize.com/building-bases-with-blockchain-technology-xyo-ceo-arie-trouw/ https://www.technowize.com/building-bases-with-blockchain-technology-xyo-ceo-arie-trouw/#respond Sat, 10 Feb 2024 07:30:58 +0000 https://www.technowize.com/?p=40849 The realm of blockchain technology is vast but companies like XYO tread the boundaries and consider the factors that we may not, providing us with some insightful predictions on the future of such tech.

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Within the limitless sphere of technological advancement, where change is the only constant, an exceptional group of pioneers emerges, carrying a profound vision that surpasses the traditional boundaries of the digital world. Among this vibrant mosaic of innovation, Arie Trouw stands out as an agent of transformation, assuming the role of co-founder and CEO of XYO. Wielding blockchain as his mighty instrument, Trouw not only navigates towards digital autonomy but also seeks to redefine the very course of the internet itself, prompting reflection on the deep implications of this monumental journey.

Further exploring the historical records of blockchain advancement, let’s shed light on the trails blazed by other trailblazers:

Vitalik Buterin: As the co-creator of Ethereum, Buterin has held a crucial position in propelling blockchain technology beyond its primary uses, advocating for smart contracts and decentralized applications.

Changpeng Zhao (CZ): The originator and head of Binance, CZ has played a significant role in moulding the terrain of cryptocurrency exchanges, making substantial contributions to global acceptance and usage.

Brian Armstrong: As the co-founder and CEO of Coinbase, Armstrong has been instrumental in making cryptocurrency trading accessible and understandable for the masses, thereby democratizing the world of digital currency.

Satoshi Nakamoto: The enigmatic figure behind the creation of Bitcoin, Nakamoto’s revolutionary concept of a decentralized digital currency has fundamentally altered the financial landscape.

Jed McCaleb: The co-founder of Ripple and Stellar, McCaleb’s work has been pivotal in facilitating fast, low-cost international money transfers, thereby transforming the remittance industry.

Elizabeth Stark: As the co-founder and CEO of Lightning Labs, Stark has been a driving force in developing scalable, fast, and low-cost payment solutions on the Bitcoin network, thereby enhancing its practical usability.

Charles Hoskinson: The co-founder of Ethereum and Cardano, Hoskinson’s work has been instrumental in advancing blockchain technology, with a particular focus on interoperability, scalability, and sustainability.

Nick Szabo: A computer scientist, legal scholar, and cryptographer, Szabo is known for his research in digital contracts and digital currency, laying the groundwork for the concept of smart contracts.

Building Bases with Blockchain Technology: XYO CEO Arie Trouw

Fueling the Passion for Digital Sovereignty

Trouw’s journey into the realm of blockchain technology is rooted in a profound understanding of the internet’s origins. Reflecting on its inception, he notes, “The Internet was founded on peer-to-peer networking between computers, mainly based on Bulletin Boards Systems (BBSs) that predated them. Sovereign and uninterruptible ideals drove this vision.” Trouw is deeply passionate about the value of data, particularly one’s own data, emphasizing control, access, and freedom of expression tied to personal information.

In a world where the internet has evolved into Web 2.0, marked by centralization and compromise of original ideals, Trouw envisions a return to the roots. “It’s important to pursue security through transparency as an alternative to privacy as the primary method of protecting personal data rights,” he asserts. Blockchain technology and cryptography, according to Trouw, offer a resurgence of peer-to-peer networking and generalized digital sovereignty. His personal mission aligns with the goals of XY Labs and XYO Platform – to be at the forefront of achieving digital sovereignty by developing tools and products that uphold these principles.

Overcoming Blockchain’s Costly Challenges

The journey toward blockchain’s widespread adoption is not without its hurdles. Trouw identifies a critical challenge shared with other technologies: showcasing value against costs. He points out the inefficiencies in current blockchain and cryptography implementations, noting their impact on cost, design, and speed. To address this, Trouw advocates for a synthesis of the best elements from Web 2.0 and Web 3.0, merging the efficiency and performance of the former with the sovereignty of the latter.

“The only way to achieve widespread adoption of blockchain, cryptography, and other sovereign technologies is for those systems to be less than their equivalent Web 2.0 systems or to have such a marginal cost that the value of their implementations is clear,” Trouw insists. Drawing a parallel with Secure Sockets Layers (SSLs), he emphasizes the need for the benefits to outweigh the costs for users to embrace these technologies willingly.

Blockchain’s Societal Impact: A Paradigm Shift

Blockchain technology is a catalyst for profound societal and industrial transformation. Trouw reflects on its multifaceted impact, stating, “Blockchain tech is transforming the ways we hold big tech and financial institutions accountable.” It’s not merely about accountability; blockchain optimizes user experiences, resolves longstanding issues related to transaction times and cross-border transactions, introduces new engagement models, and records engagements transparently and indelibly. Crucially, it prioritizes users’ data sovereignty, a fundamental aspect of Trouw’s vision for a sovereign internet.

Charting the Course: Predictions for the Blockchain Future

Looking ahead, Trouw offers insightful predictions that delineate the future trajectory of blockchain technology. In the near term, DeFi (Decentralized Finance) is poised for significant growth, driven by user-friendly features and increased accessibility through digital wallets. Trouw foresees its expansion into sectors like decentralized lending and trading, with integration into traditional finance intensifying, albeit with a cautionary note on the risk of decentralization erosion due to new regulations.

Zooming into 2024, asset tokenization emerges as a key trend, converting tangible assets into digital tokens on the blockchain. This not only streamlines investment opportunities but also fosters transparency and security across blockchains. NFTs (Non-Fungible Tokens), according to Trouw, will experience a resurgence, extending beyond traditional sectors to represent ownership of real-world assets like real estate and intellectual property rights.

Sovereign layer-one networks, as Trouw envisions, will explore cost-efficient ways to achieve blockchain goals with higher technical performance in 2024. The overall landscape suggests ongoing advancements in DeFi, asset tokenization, NFTs, and sovereign layer-one networks, shaping a dynamic and innovative environment in the rapidly evolving blockchain space.

As Arie Trouw and other pioneers lead the charge, the future of blockchain is not just a technological evolution but a societal and economic revolution. Trouw’s commitment to digital sovereignty stands as a guiding light, driving the industry toward a future where the internet once again reflects the sovereign ideals on which it was built. In this era of transformation, these pioneers forge the path, navigating the frontier of blockchain evolution with a resolute vision for a decentralized and sovereign digital future.

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Cracking the World of Crypto Security: Q&A with Harpie CEO Daniel Chong https://www.technowize.com/cracking-the-world-of-crypto-security-qa-with-harpie-ceo-daniel-chong/ https://www.technowize.com/cracking-the-world-of-crypto-security-qa-with-harpie-ceo-daniel-chong/#respond Tue, 23 Jan 2024 10:35:18 +0000 https://www.technowize.com/?p=40723 The world has evidently grown more comfortable with the industry of cryptocurrency and there has been a rise in both the number of cryptocurrencies as well as consumers willing to explore the unknown. This has worked out exceedingly well for some investors but considering the risks that are involved with investing in something unfamiliar, for others, the risks haven’t paid off quite so nicely. Just as with any technology, the […]

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The world has evidently grown more comfortable with the industry of cryptocurrency and there has been a rise in both the number of cryptocurrencies as well as consumers willing to explore the unknown. This has worked out exceedingly well for some investors but considering the risks that are involved with investing in something unfamiliar, for others, the risks haven’t paid off quite so nicely. Just as with any technology, the uprising of a new avenue of a digital presence comes with alien risks and vulnerabilities that are designed to exploit those without a comprehensive understanding of the technology they are working with. With the hefty size of investments that are made in crypto, a loss can burgeon into something quite painful for an investor who falls prey to some of these attacks, highlighting the importance of security in every move that you make online.
Cracking the World of Crypto Security: Q&A with Harpie CEO Daniel Chong

Launched in 2022, Harpie, a company that provides on-chain crypto security solutions, has been one of the good guys looking out for the consumers’ safety needs online. Backed by leading Web3 names like Dragonfly Capital, Coinbase Ventures, and OpenSea, Harpie’s services help defend against security vulnerabilities that you might not even know to look out for, from bait and scam sites to phishing attacks that could cause big losses before you even realize it’s happening.

From the humble beginnings of a college student with an understanding of a gap in the crypto industry, the company has worked hard to build up trust in its services with time. Daniel Chong, CEO and Co-founder of Harpie, has helped the company grow its services and steadily reach more investors, providing crypto security to ensure their wallets remain safely in their possession where no straying hands can make a malicious attempt at accessing their data. We were able to get a quick interview in to hear all about his experience with Harpie and the expansive world of cryptocurrency.

On Harpie and the Future of Crypto Security

Technowize: Beyond preventing theft and scams, how does Harpie envision evolving into a broader security suite for Web3?

Stopping theft and scams will always be our core focus but as we grow, how we do that will evolve. We’re not necessarily going to grow by piling on features, but by making our product really accessible and helping people understand its necessity.

Right now, we are very focused on investor education. Most people understand that they should have wallet protection once they know that it’s available–but they don’t necessarily feel the urgency to put it in place right now. That typically comes only after direct experience of a scam or accidental transfer–and by then, it’s too late.

Near term, we want to do more outreach and onboarding, helping people get started with Harpie and showing them how easy it is to add meaningful protection for their self-custodied assets. In the long term, we aim to strengthen our enterprise relationships so that users don’t even have to proactively install Harpie themselves. If these tools are built directly into wallets, everyone can rest a bit easier.

Technowize: With the increasing institutional adoption of crypto, where do you see Harpie catering to their unique security needs?

We have the most advanced security tools in the market, but right now, we’re all about protecting individual investors. Banks, hedge funds, and other institutional actors need very specialized tools, which isn’t our current development focus. Still, we’re watching the enterprise space. If we see an opportunity to address their challenges with our technology, that could be a part of our evolution.

Technowize: The on-chain firewall concept is cutting-edge. How are you planning to stay ahead of constantly evolving crypto-threats?

The crypto scam economy does evolve rapidly–but those mutations take place at the social engineering level. Bad actors are constantly innovating ways to get people to click on the wrong link or accept the wrong smart contract–but once they do, the asset transfer mechanisms remain the same. Our technology is futureproof, to a certain extent, because it’s a low-level service operating very close to the blockchain itself.

Harpie detects when assets are being moved to an unknown or suspicious wallet and prevents the transaction from executing. No matter how sophisticated the scam, that trigger remains simple and hard to defeat.

Technowize: How do you see regulations impacting the landscape of crypto security in the coming years, and how is Harpie preparing for it?

The crypto industry as a whole is watching global regulators very warily right now but crypto security companies are unlikely to be directly impacted by any current or pending regulation. Scam and theft prevention are unambiguously good: regulators don’t have any reason to interfere with what Harpie is doing.

Still, in a rapidly changing landscape, it is important to diversify. We have developed multiple different methods of on-chain asset protection. If an unforeseen new regulation suddenly made one method untenable, we have other, proven solutions ready to fill that gap.

On Entrepreneurship and Leading in the Crypto Space

Technowize: You started Harpie while still studying at Duke. What unique challenges and advantages did this present, and what advice do you have for aspiring crypto entrepreneurs?

Starting Harpie while studying at Duke was a difficult and unique challenge because let’s face it: I was a college student building a security company. Security requires a lot of trust, and I had no money, no connections, and no track record. It was, frankly, really hard.

I am fortunate, however, to have an excellent support network including Duke—a world-class institution that enthusiastically supports entrepreneurship. It was also an advantage to be operating in the crypto space, where youth isn’t automatically seen as a liability. If you can talk the talk and walk the walk, the crypto community will treat you as a peer—even to the point of offering support and funding.

 To other young tech entrepreneurs, my most valuable advice is to focus on the problem you are solving for your customers first and foremost, rather than improving some marginal technical disadvantage. A lot of people get very excited about technical capabilities and optimization, but none of that matters if your customers don’t have a reason to care.

Build a clear picture in your mind: Whose problem are you solving? Where are you going to solve that problem? How will you price your solution? You won’t have everything figured out right away, but seeking and refining these answers is even more important than writing your code.

Technowize: Harpie has secured funding from renowned investors. How did you navigate the early fundraising stages in the dynamic crypto market?

A lot of startup entrepreneurs have a pedigree that they rely on to get funding. That wasn’t me—so instead of a pedigree, I offered proof.

My co-founder and I built a prototype web app entirely under our own steam as a side project. It wasn’t perfect, there were outages and growing pains, but we found an audience. People used the app, which brought in some advertisers, and eventually allowed us to transition to a paid subscription model. By the time we were seeking funding, we had proof that we could build a product people actually wanted and were willing to pay for. That is more than what a lot of more seasoned, well-connected entrepreneurs offer.

One of the lessons here is that if you have a good understanding of what problem you want to solve and how; you don’t need much else to get started. You don’t need huge amounts of funding to create a proof-of-concept for a blockchain project: I knew what I wanted to build, so I learned the skills required and built it. If you have a great solution, the funding will follow.

Technowize: Leading in a fast-paced, often volatile industry like crypto comes with its own set of pressures. How do you maintain a work-life balance and ensure sustainable growth for Harpie?

I don’t allow myself to get caught up in the CEO “grindset.” Many tech entrepreneurs think they have to set an example of constantly working 12 to 16 hours a day so they can hold their staff to the same standard. I don’t believe that’s fair, sustainable, or necessary. There are diminishing returns for long hours: I suspect that very few of those 16 working hours per day are actually productive.

I aim to keep my working hours steady. Periods of heavy work and overtime happen: That’s part of the nature of any startup. You have to prepare by giving yourself time and space every other day. By maintaining a steady, manageable schedule most of the time, I preserve my own capacity and my team’s for those all-in moments.

Technowize: What are some of the biggest misconceptions you face as a young CEO in the crypto space, and how do you address them?

Actually, working in the crypto sector, I haven’t been faced with many misconceptions or prejudgments. I view it as one of the major advantages of this industry: I’ve always been respected as a young CEO in crypto, which I can’t imagine would be true in many other fields.

Exploring the Broader Industry and Web3

Technowize: Harpie focuses on empowering investors. How do you see individual ownership and responsibility evolving in the Web3 world?

I hope to see the conversation shifting from individual to communal responsibility for preventing scams and thefts. Right now, there’s a lot of finger-wagging at anyone who is the victim of a crypto scam, but is that really fair? Crypto consumers can receive 10 scam texts per hour—we are asking people to take on a massive burden of research and responsibility.

I believe crypto security is everyone’s problem. The social platforms the community uses have a responsibility to crack down on bots and fraudulent accounts. Security providers need to educate users about both risks and live threats. Security tools need to be more ubiquitous and built into more platforms. We need to make it possible for people to use crypto securely without themselves being crypto security experts.

I also see self-custody emerging as the best way to hold and transfer value in the developing world. In the Western market, there are a lot of options for holding money securely – but in the growing market, a crypto wallet is the best option, especially with respect to receiving aid or sending income to family members across borders.

Technowize: Decentralization is a core tenet of Web3. How do you ensure Harpie maintains its own neutrality while providing robust security solutions?

Decentralization is an important value for a lot of organizations, but it’s not always the highest possible good. Harpie values transparency and agility above decentralization. That is why we are a centralized company, and always will be.

As a centralized company, we can make decisions, respond to threats, and communicate our actions quickly without needing to navigate voting processes or community guidelines. When it comes to security, that degree of responsiveness is essential.

Technowize: Do you see a future where centralized and decentralized security solutions co-exist and complement each other in Web3?

It’s difficult to imagine what a successful decentralized security solution would look like—that aspect of Web3 will likely always rely on centralized organizations. However, solutions like Harpie do protect both decentralized and centralized assets and will continue to do so. Both have their place in the market.

Technowize: Looking beyond crypto, what other areas of Web3 do you find most exciting and ripe for disruption, and why?

I believe NFTs are a really interesting technology, and that we will see a resurgence in their use—albeit in a new form. What an NFT does really well is signify membership in a community. Up till now, these have tended to be speculative investment communities, but they don’t have to be. An NFT could signify your professional credentials, association memberships, union affiliation, and more.

I find digital identity in general to be a really interesting space. We need identity solutions that can be shown publicly while protecting privacy and can’t be lost or spoofed. Blockchain-based digital identity could accomplish all of that, improving safety and privacy online and in the real world.

Bio: Daniel Chong is the CEO and co-founder of Harpie, the crypto security platform. Daniel began using Bitcoin in 2012 and has been developing on Ethereum since 2018. While pursuing a Mathematics degree at Duke University, Daniel worked as a development and security consultant for a variety of crypto companies, leading award-winning projects to victory at conferences including ETHDenver. After closing a funding round in 2022, Daniel left Duke to focus on Harpie full-time. He’s dedicated to ending the threat of crypto theft and making smart contracts safe and accessible to all.

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Musk Zuckerberg Cage Fight to Be Livestreamed on X: No Date Decided Yet https://www.technowize.com/musk-zuckerberg-cage-fight-to-be-livestreamed-on-x-no-date-decided-yet/ https://www.technowize.com/musk-zuckerberg-cage-fight-to-be-livestreamed-on-x-no-date-decided-yet/#respond Mon, 07 Aug 2023 10:52:15 +0000 https://www.technowize.com/?p=39521 After proposing a mixed martial arts bout with Musk, Zuckerberg has deemed his readiness for the cage match, to which Musk has announced that the ring fight will be streamed live on '𝕏', formerly the Twitter platform. 

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In the chasm of social media and technology, the rivalry between Facebook’s Mark Zuckerberg and Tesla’s Elon Musk has captivated all of the world’s inquisitiveness. Both tech titans have been embroiled in a public feud for years but in an unbelievable turn of events, the Musk vs Zuckerberg challenge has wildcatted into a physical confrontation. After proposing a mixed martial arts bout with Musk, Zuckerberg has deemed his readiness for the cage match, to which Musk has announced that the ring fight will be streamed live on ‘𝕏’, formerly the Twitter platform. 

Musk Vs Zuckerberg challenge

In this playful scenario, imagine an AI-powered visualization of a fictional cage fight between Elon Musk and Mark Zuckerberg. (Image Courtesy – Generated using Midjourney AI by artist @wild.trance)

What could the implications of the delinquent Musk Zuckerberg Cage Fight be? Will the Tesla-Facebook feud end?

Musk VS Zuckerberg: Musk Zuckerberg Cage Fight

Tracing back to their overlapping interests in the state-of-the-art tech industry, Musk and Zuckerberg have repeatedly clashed over their differing visions for the future of technology, often ending up in public verbal jabs. 

Surrounding Meta Threads app debut on July 5, Elon Musk slapped a lawsuit on Meta Platforms, alleging it a “copycat” app of Twitter, accusing the former of misappropriating trade secrets by hiring ex-Twitter employees. The talks of a ‘ring fight’ escalated after the disagreements reached a tipping point. Musk provoked and challenged Zuckerberg to a cage match. Zuckerberg reposted a screenshot of the tweet, making netizens feel that the feud was heading somewhere to reality. 

There wasn’t any clear further headway on the piddling Wrestlemania front, but on Sunday, Musk announced that 𝕏 would be live streaming the bout, albeit being devoid of a date. 

Zuckerberg had suggested August 26th as the date for the showdown but has also expressed his unwavering indifference about the cage fight taking place, stating that he was ‘not holding his breath’ for Musk’s confirmation. 

On the spectrum of charity, Zuck questioned the choice of X as the platform to stream the fight, with a screenshot saying, “Shouldn’t we use a more reliable platform that can actually raise money for charity?”

Musk has proclaimed that he has been training rigorously for the cage fight but has cast a shadow of doubt on the specific date, citing a potential need to undergo surgery on his neck and upper back. On being interrogated over the purpose of the fight, Musk stated that it is a civilized form of war and that men love war. 

Implications Of The Musk Zuckerberg Cage Match

Facebook’s mogul trains in Jiujutsu, the Brazilian combat sport which is one of the core disciplines in mixed martial arts. The Musk Zuckerberg Cage Fight represents much more than just a physical showdown. It has certain stakes that neither of the feuding parties can shake off. 

It is a battle for pride and dominance – a chance to prove who is the superior tech titan. The outcome of the fight could greatly impact their personal reputations and influence within the industry. Both individuals have a lot riding on this cage match, and the world will be watching the Musk Zuckerberg cage fight live closely to see who emerges victorious.

Yet another aspect of the public interest that this feud between Musk vs Zuckerberg has gained, seems to have been blatantly ignored. This level of exposure presents unique marketing opportunities for both Tesla and Meta. The fight could serve as a platform to showcase their respective products and technologies, reaching a wider audience than ever before. By leveraging this event effectively, Musk and Zuckerberg could potentially attract new customers and investors to their companies.

Alas, beyond the personal stakes, this cage match has wide-ranging implications for their companies and the industry as a whole. As the world eagerly awaits the outcome, one thing is certain: the Musk Zuckerberg Cage Fight will go down in history as a defining moment in the battle for technological supremacy.

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Apple Revenues Fall by a Mere 1 Percent against a Profit Surge of $19.88 Billion https://www.technowize.com/apple-revenues-fall-by-a-mere-1-percent-against-a-profit-surge-of-19-88-billion/ https://www.technowize.com/apple-revenues-fall-by-a-mere-1-percent-against-a-profit-surge-of-19-88-billion/#respond Fri, 04 Aug 2023 12:07:48 +0000 https://www.technowize.com/?p=39503 Most smartphone contemporaries like Samsung and Vivo had to face the brunt of the plunge in sales, following mid-budgeted lineups, but Apple’s revenue was snowballing like the sky's the limit.

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Apple’s repertoire with its greatest hit, the iPhone, has narrowly escaped ignominy in the light of Wall Street expectations. Apple’s revenue took a pint-sized hit after having fallen about 1 percent but has stood defiantly in the smartphone market that has been in a tailspin for the past two years. While it is perturbing to know that Apple’s iPhone sales dropped about 2 percent from the preceding year and that Apple’s Q3 revenue declined, the company is renowned as the world’s most valuable tech titan.

The broader industry is stumbling with a malaise in sales and Apple’s financial downturn is privy to how the affluent patrons’ unmatched appetite for iPhones has been a saving grace. 

Apple’s Revenue Forecast: Q3 Revenue Decline

By the dint of Meta Platforms’ (Facebook) and Alphabet’s (Google) astounding double-digit profit expansions, Apple has boldly divulged its triumph in a mere 1 percent dip in revenue, settling at $81.8 billion in Q3. The spotlight is fixated on Apple’s quarterly earnings – a $19.88 billion surge in profit. 

However, Apple’s quarterly performance is mediocre, by the tech giant’s own standards. This miniature win describes the third sales decline of the fiscal year.

Surprisingly, let’s not paint this as a lackluster tale of waning fortunes. Apple’s revenue might be facing a few headwinds, but it has always outpaced even the most tempered Wall Street predictions, and that is the biggest testament to Apple’s resilient and buoyant nature. 

Apple revenue

Apple’s latest foray into Mumbai, India. (Image Courtesy – Apple)

Apple’s financial results echo a broader trend in the tech domain. Nearly all the tech giants have regained their footing in the market after the murky turbulence last year. The big tech companies were feebly moving through most of 2022, owing to weakening e-commerce, digital ads, and computer sales. 

Amazon’s quarterly earnings have thwarted Wall Street’s wildest projections with unprecedented profits. Google’s and Microsoft’s meteoric success is contingent on resurgent digital ad sales. Almost all of the Silicon Valley giants had to resort to cost-cutting measures by enforcing furloughs and pruning away their legacy of perks. 

Apple stood out like an outlier – sidestepping the tidal wave of layoffs. And it was hit by another wave of an unforeseen surge in demand in the pandemic, as the need for remote work boomed. Apple’s iPad and MacBook sales were explosive then. But those sales have since taken a downturn. MacBook sales dropped by 7 percent to $6.84 billion, while iPad sales nosedived 20 percent to $5.79 billion.

But does this hint at a faltering Apple? Hardly. The hype around the iPhone hasn’t died down ever since the first iPhone was launched in 2007. Most smartphone contemporaries like Samsung and Vivo had to face the brunt of the plunge in sales, following mid-budgeted lineups, but Apple’s market share was snowballing like the sky’s the limit. 

Notably in China’s market, Apple’s iPhones weren’t just a luxury, but every deep-pocketed customer’s desire – being facilitated by convenient monthly payment plans. China’s smartphone market was plagued by a slump of 4 percent and in contrast, Apple was defying the economic gloom by soaring about 7 percent. 

Apple’s Quarterly Earnings: How The Tech Giant Is Swerving Into Success

To place Apple’s revenue under the magnifying glass, the company raked in a staggering $39.67 billion from iPhone sales, a trifling 2 percent drop from 2022. 

Luca Maestri, Apple’s CFO, touted the company’s affordability programs as key contributors to their success. A majority of iPhones are now sold through innovative programs – trade-ins, installments, and financing – democratizing access to cutting-edge technology.

Amid device sales issues, the App Store and Apple Watch sales continued their ephemeral rise. Apple’s services business, encompassing Apple Music subscriptions, App Store transactions, and Apple Pay, boasts an incredible $21.21 billion in sales, an 8% upswing. Meanwhile, the wearables division, home to the iconic Apple Watch and AirPods witnessed a 2% surge, amassing $8.28 billion in sales.

Looking for a new revenue stream on its horizon, Apple has unveiled its newest product addition since 2014 – Vision Pro, a $3,500 high-tech pair of glasses that blend virtual reality with the real world. Albeit, it won’t go live until next year. Apple has forayed into uplifting budding markets to boost sales, after having a maiden entry into India, which paid off handsomely after eager customers thronged through. 

“While I’m pleased with our growth there, we still have a very, very modest and low share of the smartphone market. It’s a huge opportunity for us.”

– Tim Cook, CEO of Apple

Apple’s sales in India have doubled since last year, predicting a rich, billion-strong iPhone user base in the country by 2026.

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End of an Era: Twitter’s Name to X Change Sparks Skepticism from Users https://www.technowize.com/end-of-an-era-twitters-name-to-x-change-sparks-skepticism-from-users/ https://www.technowize.com/end-of-an-era-twitters-name-to-x-change-sparks-skepticism-from-users/#respond Mon, 24 Jul 2023 10:45:18 +0000 https://www.technowize.com/?p=39434 Over the past two decades, Twitter was solely the most successful social media platform outside of Meta’s vortex of social media apps. What remains sacred to the platform anymore?

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It’s a new day of a new week and Elon Musk is again in the incessant glare of publicity as he announced yet another controversially disruptive change to the social media platform he bought for a staggering $44 billion last year – Twitter’s name. In a whirlwind series of tweets, Musk revealed that he plans to change the logo of Twitter from the iconic blue birdie to an ‘X’

Twitter’s Name Changes To X: Rebranding 15 Years Of An Iconic Platform 

Elon Musk rebranding Twitter to X comes as no surprise to people apprised of his history for the letter insofar. Starting after midnight ET, Twitter’s leader said that he’s expecting to make the change worldwide as soon as Monday. 

The billionaire Tesla CEO has hosted a startup named X.com (presently known as PayPal) and a rocket company named SpaceX under his umbrella. Musk also tweeted his intentions behind purchasing Twitter – as an accelerant for building X, the Everything app. 

Currently appointed as CEO, longtime NBC Universal executive Linda Yaccarino broached upon Twitter’s name change, dubbing it as another chance to transform people’s interactions.

“It’s an exceptionally rare thing to get a second chance to make another big impression. Twitter changed the way we communicate and X will now go further to transform the global town square.” 

X is expected to be the future of boundless interactivity, focusing on creating a global marketplace, not just with textual communication but even audio and video messaging, and payments/ banking. 

Twitter’s Logo Change Receives Mixed Reactions

Many Twitter users took up to the eponymous platform to voice their dismay at Elon Musk’s decision to change Twitter’s name. As a platform that understandably patented the verb ‘tweeting’, many users have raised questions about what the new verb will be called.

Over the past two decades, Twitter was solely the most successful social media platform outside of Meta’s vortex of Facebook, WhatsApp and Instagram and other origins of WeChat, Reddit, Pinterest, YouTube, TikTok and Snapchat. A huge global mass of Twitter’s audience has already expressed their exasperation owing to the constantly dissatisfying changes being made to the platform. 

Twitter name

(Image Courtesy – Twitter @elonmusk)

In the latter half of 2022, his other company board members including Tesla and SpaceX were concerned that Musk was neglecting his duties in the wake of ownership of a new digital town square. 

After his takeover, Musk has been chastised for the course of actions being taken at Twitter, which have reasonably prompted advertisers and users to flee out of the mess. Many believe that Musk is undermining the influence that the users have over the app and is only keen on money-making strategies. Twitter’s revenue had significantly dropped after the billionaire took over and in a controversial attempt to revive the situation from bankruptcy, nearly three-fourths of the workforce was laid off.

Thousands of users had condemned Musk’s decision for a $8-per-month subscription fee for Twitter Blue but the latest rollout of tweet reading limits pushed everyone off the edge. 

“You completely blew it. Never seen anyone blow billions of dollars so ineptly. Instead of thinking of all the good you could have done in the world, you bought a globally recognized brand and changed everything (including the name, which is literally what you paid for).. to the point you could have built your own from scratch for 1/10,000th of the cost.”

It is almost as if Musk wants to be met with sharp criticism as a way of perpetually being spoken about. 

On the other hand, some users have lauded Twitter’s rebranding as apt. Having flourished for a short period with ‘free speech’ under Musk’s leadership, these users believe that Musk needs to craft his own legacy by transforming the social media platform completely, including Twitter’s name. 

“It’s an incredible time at X. Every decision, every line of code, every interaction forms a part of our rich history. This isn’t just about building a product but about crafting a legacy.”

The latest Twitter logo change and rebranding of Twitter comes as new competition arrived in the form of Meta’s Threads app, earlier this month. It has been observed as Twitter’s alternative

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Apple Launches Developer Tools: Creating Spatial Experiences with Vision Pro SDK https://www.technowize.com/apple-launches-developer-tools-creating-spatial-experiences-with-vision-pro-sdk/ https://www.technowize.com/apple-launches-developer-tools-creating-spatial-experiences-with-vision-pro-sdk/#respond Thu, 22 Jun 2023 12:00:18 +0000 https://www.technowize.com/?p=39103 Apple Vision Pro’s spatial development will be able to take full advantage of the boundless canvas in Vision Pro to synthesize a new class of spatial computing apps.

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Apple has announced the availability of new software, the VisionOS software development kit for enabling Apple’s global developer community to build groundbreaking content for the Vision Pro. The Apple Vision Pro SDK will be available for at least a year before the headset goes live for sale in the US for $3,500.

Vision Pro is the world’s first spatial computer which features VisionOS and lets users interact with digital content in the most natural way possible – using their hands, eyes, and voice. 

Apple Vision Pro’s spatial development will be able to take full advantage of the boundless canvas in Vision Pro to synthesize a new class of spatial computing apps and digital content with the physical realm, seamlessly. Apple Vision Pro’s developer tools will be powered to design novel app experiences across multitudes of categories such as gaming, design, productivity, and more. 

Apple Vision Pro SDK

(Image Courtesy – Apple)

The tech giant reckons on the developers’ interest to build the hype around the system, after it didn’t receive a rave response at its unveiling at the WWDC, earlier this month.

Create Spatial Experiences With Apple Vision Pro SDK

For years of AR and VR development, content has been an ‘apple of discord’. No wonder Apple is ready to capitalize on a stocked App Store even before the system arrives early next year. 

In July, the tech giant is slated to open Apple developer labs for Vision Pro SDK in Cupertino, Munich, London, Singapore, Tokyo, and Shanghai. Apple SDK for Vision Pro will allow developers to get their hands on testing apps on the Apple Vision Pro hardware and gain the support of the in-house engineers. Vision Pro’s developer tools will also enable teams to build, iterate and test on the Apple Vision Pro.

The main blight of developers was to seldom have a moment with an extremely expensive and yet-to-be-launched headset. 

“Apple Vision Pro redefines the possibilities of a computing platform. Using powerful frameworks they already know, developers can start building visionOS apps and design all-new experiences for their users.”

The tech company believes that creating spatial experiences with Apple Vision Pro will unlock newer opportunities for developers to imagine new ways to help their users be productive, enjoy, and connect. Apple’s developer labs for Vision Pro SDK will span across a spectrum of immersive content – windows for depth and 3D content; volumes for being viewed from any angle; and spaces that can be unbounded for 3D content. 

Apple Vision Pro SDK

(Image Courtesy – Apple)

The visionOS SDK is constructed to be mounted on top of conformable operating systems by using familiar dev tools such as Xcode, RealityKit, SwiftUI, TestFlight, and ARKit. 

“Manufacturers can use AR solutions to collaborate on critical business issues by bringing interactive 3D content to life, from a single product to a whole production line. 

Just as system default settings load apps into the Shared Space, apps can use windows and volumes to display content. Inside the Full Space, infinite 3D content can be created, which opens a portal for immersive experiences. 

Some of the Apple Vision Pro SDK apps include Complete HeartX and Djay. Developer tools from the software development kit with Complete HeartX will aid medical students in real practice – using hyper-realistic 3D animations and models. Complete HeartX can visualize medical issues like ventricular fibrillation, helping them use their knowledge to solve them. Djay can be used by beginners and seasoned professionals – it transforms users with a stupendous environment to automatically respond to the mix. 

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Leading Industrial Robotics Companies in 2023: Paving Way into the Future https://www.technowize.com/leading-industrial-robotics-companies-in-2023-paving-way-into-the-future/ https://www.technowize.com/leading-industrial-robotics-companies-in-2023-paving-way-into-the-future/#respond Tue, 23 May 2023 01:30:52 +0000 https://www.technowize.com/?p=38722 Embark on a journey into the world of top industrial robot companies and discover the innovative robotics manufacturers that are reshaping the manufacturing landscape creating a sense of ease. From ABB Robotics and Fanuc Corporation to Yaskawa Electric Corporation, KUKA Robotics, and DENSO Robotics, these leading companies are revolutionizing the industry with their cutting-edge automation solutions. 

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The domain of robotics has witnessed remarkable advancements with the emergence of technologically integrated industrial robotics companies. The exponential growth has significantly reshaped the landscape of factories and industries worldwide. Industrial robots possess the ability to perform repetitive, hazardous, and highly precise tasks, liberating human workers to focus on higher-level responsibilities.

According to the International Federation of Robots (IFR), the global deployment of industrial robots has surpassed three million units, highlighting their pivotal role in driving industrial transformation.

Top Industrial Robot Companies: Innovators in Manufacturing Automation

A. ABB Robotics:

1. ABB Robotics is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland.

2. It is one of the world’s leading robotics and machine automation suppliers making it one of the top industrial robot companies.

3. The industry offers a comprehensive and integrated portfolio covering robots, AMRs (Autonomous Mobile Robots), and machine automation solutions contributing to the process of innovation.

4. ABB Robotics operates in over 100 locations across more than 50 countries with approximately 11,000 employees.

5. ABB Robotics stands out as the only company with a complete and diverse range of robotics and automation offerings that significantly enhances productivity, efficiency, and safety in industrial settings.

6. ABB Robotics focuses on delivering seamless integration of robots, AMRs, and automation solutions through its software expertise.

7. Their portfolio caters to various industries, addressing the unique needs and challenges of each sector.

8.  ABB Robotics’ global presence and extensive network enable them to provide localized support and service to their customers worldwide.

B. Fanuc Corporation:

1. FANUC has been a pioneer in the development of Numerical Controls (NCs) since 1955, focusing on factory automation.

2. The company operates in the field of Factory Automation (FA), which includes NCs, servos, lasers, robots, and Robo machines.

3. FANUC applies IoT/AI technologies across its product lines, enabling customers to utilize its products more efficiently.

4. The company emphasizes providing ongoing support for its products, ensuring continuous assistance to customers who use their equipment.

5. By promoting automation and efficiency in customers’ factories, FANUC contributes to the growth and development of the manufacturing industry both in Japan and internationally.

6. FANUC America is a leading provider of robotics, CNCs (Computer Numerical Controls), and ROBOMACHINE solutions.

7. FANUC’s products are widely recognized and installed worldwide, with over 25 million units deployed across various industries.

8. The company’s commitment to innovation and customer support has made FANUC a trusted and familiar brand in the field of manufacturing automation.

C. Yaskawa Electric Corporation:

1. The company is driven by its management philosophy of contributing to the development of society and the welfare of humankind through its business performance.

2. Yaskawa Electric introduces the concept of “i³-Mechatronics,” a solution that integrates mechatronics products with the utilization of digital data to achieve continuous improvements in customers’ productivity.

3. The company focuses on strengthening its core businesses, including servo motors, controllers, AC drives, and industrial robots, and leveraging these technologies to evolve mechatronics through the use of digital data.

4. Yaskawa Electric is committed to revolutionizing industrial automation and addressing customers’ business challenges through its innovative solutions.

5. As a Japanese manufacturer, Yaskawa Electric Corporation specializes in servos, motion controllers, AC motor drives, switches, and industrial robots.

6. Their Motoman robots are heavy-duty industrial robots widely used in various applications such as welding, packaging, assembly, coating, cutting, material handling, and general automation.

D. KUKA Robotics:

1. KUKA is a German manufacturer of industrial robots and systems for factory automation. 

2. The majority ownership of KUKA is held by the Chinese company Midea Group, with over 95% ownership.

3. With sales of approximately 3.3 billion euros and around 14,000 employees, KUKA is a global automation corporation.

4. The company’s headquarters are located in Augsburg, Germany.

5. KUKA is recognized as one of the world’s leading suppliers of intelligent automation solutions.

6. They offer a comprehensive range of products and services, including robots, cells, fully automated systems, and networking capabilities.

7. KUKA serves various markets such as automotive, electronics, metal & plastic, consumer goods, e-commerce/retail, and healthcare.

8. The company is focused on expanding its position as an innovative and technologically advanced leader in the industry.

9. KUKA aims to capitalize on global trends and leverage its expertise to achieve the best possible outcomes for its customers.

10. With a strong emphasis on intelligent automation, KUKA provides integrated solutions to meet the diverse needs of industries worldwide.

E. DENSO Robotics:

1. DENSO is one of the world’s largest automotive parts manufacturers and has been a leader in manufacturing automation since the 1960s.

2. The company specializes in the design and manufacturing of industrial robot arms and it employs over 150,000 people across 38 countries and regions and generates over $40.4 billion in sales.

3. It is also the world’s largest user of small assembly robots, including 4-axis SCARA robots and 5-6 axis articulated robots.

4. Over 27,000 DENSO small industrial robots are employed in the company’s own manufacturing facilities, additionally, more than 143,000 DENSO small industrial robots are used by other companies globally.

5. DENSO is an innovative leader in the field of robotics, providing solutions to global industries.

6. They offer a wide range of high-speed, high-precision four-axis SCARA and five-six-axis articulated industrial robots, with payloads up to 20 kg.

7. DENSO Robotics provides various models, including standard, dust- and mist-proof, dust- and waterproof, cleanroom, and aseptic robots to suit different applications.

8. In addition to industrial robot arms, DENSO offers user-friendly programming software, controllers, and teaching pendants.

9. DENSO’s commitment to quality has been a driving force since its inception in 1949, with a focus on producing the highest and most consistent quality products.

Leading Robotics Manufacturers have curated and launched remarkable products in the market liberating tedious human labor. Leveraging robots developed by innovative robotics companies leads to efficiency and precision. It is important to emphasize the fact that robots are not a replacement but a supplement. 

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Bye By Masters Of A.I. Opens Up New Horizon For Digital Assistants https://www.technowize.com/bye-by-masters-of-a-i-opens-up-new-horizon-for-digital-assistants/ https://www.technowize.com/bye-by-masters-of-a-i-opens-up-new-horizon-for-digital-assistants/#respond Wed, 06 Jul 2022 15:53:49 +0000 https://www.technowize.com/?p=34407 Mass exodus takes a toll on Google, DeepMind and Meta as top talents decide to give exploring new possibilities a serious shot

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In a surprise sequence of events, a number of A.I. experts with both sheer expertise and wealth of experience, have left tech giants to launch start-ups aimed at delivering new generation digital assistants. This significant development has indeed sent shockwaves throughout the Valley as it has traits of uncanny in it. One must note that it takes immense courage to put so much at stake by risking one’s career when it’s at the very pinnacle of it.

A.I.

It’s Not Over Yet

For the major stakeholders of the tech industry, it’s quite unpalatable, to say the least. The ‘weird’ trend of putting down the papers at the cost of a nine figure pay packet, is hard to sink in on the part of the high-profile employers, which include key global players like Google, DeepMind and Meta.  But if we have a close reading of the unusual chain of events in the light of the Great Depression Resignation, then we might get some conviction so far as the mass exodus is concerned.

It was in the month of May last year when we encountered the term – ‘Great Resignation’ for the first time amidst the second wave of the gruesome pandemic. Just when employers across the globe thought that this epidemic of stepping down is over, the current Silicon Valley phenomena forced them to think otherwise.

Can lightning strike twice at the Silicon Valley?

Leading consultancy firm, PwC’s Global Workforce Hopes and Fears Survey of more than 52,000 workers in 44 countries and territories, carried out in March 2022, reveals that one in five workers globally planning to quit this year itself. Hence, this happening can be seen as an extension of the Great Resignation.

A Wave Of A.I. Experts Building A New Futuristic Generation Of Digital Assistants

Some of the finest techies from the Silicon Valley have given birth to a host of A.I. start-ups which are showing early promise. Among these exciting newbies, whose focal point remains artificial intelligence and operations revolve around revolutionizing digital assistants, Adept AI Labs is grabbing most of the eyeballs.

Adept is the brainchild of a group of A.I. researchers from Google Brain who catapulted the A.I. architecture known as “The Transformer” – the famous algorithmic design which facilitated great advancements in natural language processing over the last few years. In the words of the co-founder and chief scientist of the A.I. research start-up, Ashish Vaswani, echoes of their vision was found – “We want to figure out how to get machines to perform actions for people, not just have conversations with them.”

The A.I. digital assistants lab is already enjoying a lot of traction courtesy of their first software, which uses a basic SQL database and is enabled to perform various tasks.

What is the future of digital assistants?

In the last decade, we witnessed the fairy tale runs of many unicorns and we can have high hopes for the new entrants in the Silicon Valley with huge prospects. The way Adept, Cohere AI and other new-gen digital assistants start-ups are popping up, it might no longer remain a cakewalk for the big guns to enjoy an upper hand in the techverse.

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The Most Popular Twitch Games Capitalize on Unexpected Twists https://www.technowize.com/the-most-popular-twitch-games-capitalize-on-unexpected-twists/ https://www.technowize.com/the-most-popular-twitch-games-capitalize-on-unexpected-twists/#respond Thu, 06 Jan 2022 13:21:12 +0000 https://www.technowize.com/?p=32552 As of 2021, Twitch had over 140 million active users with the numbers increasing daily.

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Popular Twitch games bring in revenue and increase viewership for the game. In this piece, let’s take a look at the games that consistently take the top spot.

An Introduction to Twitch

A live streaming website allows content creators to film themselves and share what they’re doing with other people. Viewers can choose to support the streamer by subscribing to them or by making a donation. Although this was initially built for gamers, the platform has now become more open and you can easily find a variety of streamers who showcase recipes, give city tours and other tutorials. Unlike other services, as this is a live service, there is no room for manipulation or edits, which further enhances the connection between the creator and the viewer. You can also express your views in real-time by using the chat feature.

Fans also connect with communities that share the same interests as they do to foster a sense of belongingness and brotherhood. Twitch was started in 2011, and later acquired by Amazon in 2014 which further propelled its rise. As of 2021, Twitch had over 140 million active users with the numbers increasing daily. Streamers capitalize on popular Twitch games and get rich on ad revenue, endorsement deals and brand sponsorships.

Keep reading to find out which are the five most streamed Twitch games

Gamers often crawl the site to find and share information and to geek-out with fellow gamers on how to improve their skills. The five most popular games on Twitch that have captivated audiences are listed below.

1. Grand Theft Auto V

The phantasmic city of San Andreas attracts content like no other, which comes as no surprise as it broke sales records within days of its release. Twitch users are buoyed by the fresh content and streamers leave no stone unturned as they do everything from voice modulation to discussing minute changes. By providing insightful ways of looking at different situations, streamers ensure a good source of revenue while serious gamers get tips and hacks. One of the best selling video games of all time, it has consistently made it into the list of popular Twitch games.

one of the most watched Twitched games

2. League of Legends

A multiplayer online battle arena game, people streamed the League for an impressive 42 billion plus hours. In this game, players form teams of five and set out to defend their territory. Players and eSports viewers both enjoy spending time on the League on Twitch. They unite in their quest to defeat the enemy Nexus and bond while discussing the effectiveness of different strategies. The expert commentary and good-natured ribbing, along with tips on how to deal with some persistent enemies, keep them coming back for more. Viewership hits record highs during international tournaments making a mark in entries for the most popular games on Twitch.

One of the most streamed Twitch games

3. Fortnite

Available in three distinct game modes, Fortnite can be played on a variety of platforms contributing to its popularity. Developed by Epic Games in 2017, Fortnite is battle royale. This translates into its Twitch fan base as well, as new streamers continue to create content. Their popularity waxes and wanes as the Fortnite world is constantly evolving and creators literally need to be on top of their game to keep the interest of viewers. By default, this enables it to stay at the top of the most watched Twitch games.

Popular Twitch game - Fortnite

4. Valorant

A tactical shooter game with a well-crafted character set based on several themes, players must bring their A-game to survive and thrive. Shooting skills come in handy, but the immense knowledge provided by mainstream players help you go for the kill and solidify its place on the most popular games on Twitch list. Some of the most viewed clips show you how to attack, defend and persevere, along with unsaid rules of combat. Most Valorant streamers are known for being able to hold a good conversation while playing and teaching their strategies. Play-by-play analysis and a sense of humor also help keep things interesting.

On eof the most popular game son Twitch is Valorant

5. Escape from Tarkov

A massive multiplayer online role-playing game, Escape from Tarkov provides a much-needed escape from reality. In 2019, players could earn in-game loot by watching streamers play. Such ingenious moves by the company unite the professional players and the streamers while making this one of the most streamed Twitch games.

Escape From Tarkov is an escape from reality

 Twitch subscriptions provide a steady source of income to established streamers, as it functions as a source of entertainment and as a form of social media. Although the list of popular Twitch games keeps varying slightly, these five games have consistently managed to come on top, thanks to innovative marketing ideas and creative streamers.

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A Quick Detour of the Hyperloop Technology https://www.technowize.com/a-quick-detour-of-the-hyperloop-technology/ https://www.technowize.com/a-quick-detour-of-the-hyperloop-technology/#respond Sat, 06 Jun 2020 17:38:42 +0000 https://www.technowize.com/?p=17923 Elon Musk’s Hyperloop holds a special place in the imagination of people, and it is a sign of progress in space technology and advancement. An improvement in space usually involves the incremental steps taken to suit the places that are already built, like road tolls and electric scooters! The Hyperloop by Elon Musk is a 760 mph leap tool that promises significant advancements and innovative patterns of settlement and activity […]

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Elon Musk’s Hyperloop holds a special place in the imagination of people, and it is a sign of progress in space technology and advancement. An improvement in space usually involves the incremental steps taken to suit the places that are already built, like road tolls and electric scooters! The Hyperloop by Elon Musk is a 760 mph leap tool that promises significant advancements and innovative patterns of settlement and activity follow in its wake.

The real Hyperloop was to be propelled by magnets, but so far it is powered by hot air! The original image and concept of the Hyperloop and its working mechanism are far away from reality; it seems to take years to develop into that dream. Co-founder of Hyperloop Transportation Technologies, a company which aims at pioneering the terrestrial transit at the speed of sound using a cadre of far-flung engineers, stated, ‘We’ve solved all the technical issues, still, the team has yet to test a full-scale prototype.’

Elon Musk Hyperloop

Hyperloop Technologies

Elon Musk Hyperloop

The Hyperloop is a proposed passenger and freight vehicle which was first used to describe an open-source design and was released by Tesla and SpaceX jointly. It is more or like a sealed tube or a system of tubes with low air pressure through where a pod may travel substantially free of air resistance or friction. Hyperloop Technology is designed to be energy efficient and can convey people or objects at the airline or hypersonic speeds. This technological advancement would drastically reduce travel times in terms of train or plane travel. The SpaceX Hyperloop Alpha concept was first published in August 2013, and proposed a route running from the Los Angeles region to the San Francisco Bay Area, merely following the Interstate 5 corridor.

Hyperloop Transport Technology

Something exciting is occurring as Hyperloop Transportation Technologies (HTT) along with other firms, move forward with their plans: The Hyperloop is beginning to look more familiar than a space-age machine. Like, the HTT car is not the bobsled-size carriage imagined by Musk, but it is more like a needle-nosed Shinkansen train car. It is like the team is taking ideas from the pre-existing tools rather than going with their concept of the space-age machine. This design choice brings the idea of Hardt Hyperloop infrastructure far away from Musk’s initial vision of an agile, easy-to-build pipeline and closer to the costly, time-consuming right-of-way whose pursuit characterizes the construction of roads and railways.

However, the vehicle isn’t the only thing that resembles a traditional vehicle. The technology and speed are traditional too, and when Hyperloop One went for the actual test track, the audience present witnessed a pod achieve speeds of 240 miles per hour. But that’s just the technology. The Hyperloop project is aimed at implementing tubes loading up 16,000 passengers per hour on its first projected route near Mumbai that would have a carrying capacity like the world’s busiest high-speed train line Tokyo–Osaka Shinkansen. In short, the Hyperloop One’s project is beginning to sound more like a high-speed rail line than a space-age tech. Also, the entire Hyperloop system is estimated to cost 60-70% of the cost of high-speed rail and not the Musk projected 10 percent or less.

Also, in the prototype tunnel in the company’s L.A. headquarters, the model evolved from tunnels carrying cars on skates to a kind of infernal transportation Cat-Dog. When Musk was asked about the transformation of Elon Musk Hyperloop from ‘cars on skates’ to a one-lane auto tunnel, Musk stated on Twitter, “This is simple, and it just works.”

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