Author: Yogi Nelson

Hello, I'm Yogi Nelson. Reading, writing, and learning have always been my passions. For 33 years I worked in the public sector in the fields of city planning, housing, real estate, and finance. I retired in 2017 and travel extensively through Asia while dedicating myself to yoga. In 2020, I decided to dive into blockchain and crypto and now artificial intelligence. Join me as I answer your questions on these topics. As a bonus, I include proverbs from my upcoming book, "Global Wisdom: Proverbs from Every Nation", nano size comments related to one of my travel adventures and fun facts from different countries.
Blockchains, Uncategorized, Yogi Nelson

Will Chile Adopt a Central Bank Digital Currency Soon?

Yogi Nelson

Namaste Yogis.   Welcome to the Blockchain & AI Forum, where your technology questions are answered!   Here no question is too mundane.  As a bonus, a proverb is included.  Today’s question comes from Gina, Santiago, Chile.  Gina wants to know if Chile will soon adopt a digital currency?

Gina, great question!  Central bank digital currencies is a controversial topic.  I’ll explore the reasons why you and countless others, both inside and outside of Chile, believe Chile may adopt a central bank digital currency.  Let’s go directly to the source—Central Bank of Chile (CBoC) to investigate.  The CBoC produced a report in 2024 on the topic.  It’s in Spanish nevertheless here is the link:  https://www.bcentral.cl/documents/33528/130503/Segundo-Informe-MDBC.pdf/1c506d66-1dbf-2434-54bd-3997ec84784b?t=1712352384816. 

However, to answer your question with full context, we must time travel to 2022.  Why 2022? Simple. In 2022 the CBoC  produced the following report:  https://www.bcentral.cl/documents/33528/130503/Primer_Informe_MDBC.pdf/46608531-566b-0703-03ea-bcd0f088d014?t=1692398717733 Below is a summary of the report. 

Central Bank of Chile 2022 Digital Currency Report

I conclude the 2022 report was design to lay the ground work for a central bank digital currency (CBDC).  The version released to the public consists of 32-pages and it outlines a series of advantages/disadvantages but makes no definitive declaration other than more research and study is required.  Given the complexity, more research was prudent conclusion in 2022.  Below are few advantages of a CBDC according to the CBoC:

  • Increase banking services to the unbanked and underbanked
  • Improved central bank operations
  • Private banking/finance innovations
  • Currency fraud prevention
  • International money transfers

The CBoC also noted the following risk of a central bank digital currency:

  • Design and operational risk
  • Establishing relationships with retail users carries reputation risk
  • Immature technology given the stakes
  • Insufficiently clear regulatory and legal issues
  • Counterparty risk from other central banks

Central Bank of Chile 2024 Digital Currency Report

The 2024 report repeats the advantages/disadvantages of a central bank digital currency but I will not.  Instead, I’ll focus on two selected parts of the 2024 report, specifically an overview of what other nations are doing in the digital currency space and the next steps the CBoC intends to take.

Overview of CBDC Projects Across the Globe

  1. Numerous nations across the global are pushing ahead with exploring the implementation of central bank digital currencies, say the CBoC.  According to the CBoC, in 2021 74 nations were exploring a CBDC; in 2024 the number jumped to 135!  The momentum is clearly on the side of CBDC. 
  2. There is a divide among central banks.  Some central banks are exploring CBDC on a wholesale basis, e.g. for use between and among central banks, and private banks.  Whereas some central banks are analyzing the idea of a central bank direct to retail users.
  3. The broad exploration for digital currencies among central banks is creating an extensive library of lessons learned, successes, and failures that will eventually benefit the decision-making process of central banks.
  4. Central banks are moving from proof of concepts to pilot projects quickly.  As of 2024, 26% of central banks entered the pilot project stage.
  5. Despite the momentum, only 2% of the central banks actually launched a CBDC.  Moreover, about 2% cancelled or abandoned the idea.

CBoC Next Steps

No surprise, CBoC says it will continue the project.  The CBoC cites the compelling use case for a central bank digital currency, including innovations in finance.  However, CBoC does say it will remain technology agnostic, for the time being.

I leave with a proverb from Chile: “when the river makes noise, it’s because it carries stones.”

Until next time,

Yogi Nelson

Artificial Intelligence, Blockchains, cryptography, Environment

CAN BLOCKCHAINS BUILD A BETTER PLANET?

Yogi Nelson

Namaste Yogis.   Welcome to the Blockchain & AI Forum, where your technology questions are answered!   Here no question is too mundane.  As a bonus, a proverb is also included.  Today’s question comes from Tomas, in Mendoza, Argentina, and he wants to know if blockchains can build a better planet?

Tomas, you came to the right place.  Afterall, if a technology is not improving the planet, it’s of no value.  I researched your question and found a fantastic report by PwC that speaks to your question.  I’ll start with a short mention of PwC, then offer an overview of their report. 

PwC, stands for Price Waterhouse Cooper.  With offices in 158 countries and more than 236,000 employees, PwC is a worldwide provider of professional services to businesses and governments around the globe. Bottom line, PwC is a major influencer and thought leader on the world stage and when they speak as an organization, they do so from a position of authority.  What does PwC say about using blockchains to build a better planet?  Essentially, plenty but before I delve into their findings, first a word concerning the report sponsors.

The report was prepared for the World Economic Forum Initiative on Shaping the Future of Environment and Natural Resources Security and the Stanford Woods Institute for the Environment.  The report is one in a series of reports related to the “Fourth Industrial Revolution”.  This particular paper looks at blockchain and the earth. Time to examine the seven major findings.

Supply Chains.  PwC cites the ability of blockchain to create undeniable (and potentially unavoidable) transparency in supply chains. Recording transactional data throughout the supply chain on a blockchain and establishing an immutable record of provenance offers the potential for full traceability of products from source to store. Providing such transparency creates an opportunity to optimize supply-and-demand management, build resilience and ultimately enable more sustainable production, logistics and consumer choice.

Decentralized Management.  PwC argues blockchain can underpin a transition to decentralized utility systems at scale. Platforms could collate distributed data on resources thereby ending the current asymmetry of information that exists between stakeholders, enabling more informed and perhaps decentralized decision making.  With blockchain peer-to-peer transactions, dynamic pricing and optimal demand/supply balancing would of course be possible, says PwC.

New Financing.  With blockchain tech, finance platforms could potentially revolutionize access to capital and unlock potential for new investors in projects that address environmental challenges.  PwC says, blockchains could transform finance from shareholder values to stakeholder values.  I like that!

Incentivizing Circular Economies.  Could blockchain fundamentally change the way in which materials and natural resources are valued and traded, incentivizing individuals, companies and governments to unlock financial value from things that are currently wasted, discarded or treated as economically invaluable?  PwC says yes!

Transforming Market Dynamics. PwC, correctly notes the power of combining blockchain with crypto tokens to optimize existing market, e.g. carbon, to create new opportunities for carbon credit transactions. Nice!

Next-Gen Sustainability Monitoring, Reporting and Verification.  The tech that powers blockchain has the potential to transform both sustainability reporting and assurances, says PwC. This could drive a new wave of accountability and method for managing risk and reward.

Disaster Preparedness and Humanitarian Relief.  First responders and relief workers using blockchain could use a new shared system in disaster preparedness and relief to improve the efficiency, effectiveness, coordination and trust of resources. An interoperable decentralized system could enable the sharing of information and rapid automated transactions via smart contracts. Awesome!

Time to end with this proverb from Guatemala:  “skill is worth more than strength.”

Until next time,

Yogi Nelson

Artificial Intelligence, Blockchains, Urban Planning, Yogi Nelson

How Neotech Transforms Urban Planning with 3D Technology

Yogi Nelson

Namaste Yogis.   Welcome to the Blockchain & AI Forum, where your technology questions are answered!   Here no question is mundane.  As a bonus, a proverb is also included.  Today’s question was submitted by Cristina from Bucharest.  Cristina asks if are there artificial intelligence (AI) 3D global mapping companies in Romania?

Cristina, you came to the right place. The answer is yes, Romania does have such a company—it’s called Neotech.  https://www.neotechai.com/  I’ll share their fascinating story beginning with the Neotech team, use case examples, and a word about the tech in Neotech. During my research I discovered Neotech provides city planners an immensely valuable service; I was a city planner for numerous years and that made the question particularly intriguing. 

Team Neotech.  Although Neotech consists of only 13 staff members and 4 advisors, don’t underestimate this powerhouse team.  Let’s start with Neotech founder, Mr. Doru Borsan and the co-founder Christian Meier.  Doru’s 3,000 followers on LinkedIn understand Mr. Borsan is an accomplished thought leader in his field.  And, Christian Meier is equally recognized among his peers for technological expertise.  But resumes only account for a fraction of the Neotech difference. 

City Planning Family Neotech is Calling:  What truly matters is what Neotech produces, especially to city planners, but also public works departments, and architectural review boards, city councils, etc.   With Neotech Smart City technologies, physical structures and assets can be scanned and converted into detailed 3D point-cloud models.  Of what value is this you ask?  As a former city planner, I say plenty.  Let’s take a very common situation where this service would be welcomed. 

Suppose a real estate developer proposed to demolish several small existing structures in a highly urbanized neighborhood and replace them with multiple residential towers.  Numerous interested parties will want to comprehend the implications on the urban form.  For example, neighbors at a city council meeting may ask how the buildings affect shade, wind, vistas, etc.  With Neotech city planners could create a digital twin of the project.  And, with the immersive technology available with Neotech, neighbors, architectural review boards, city councils, etc. would get a realistic experience of walking the project, and viewing it from every angle, of “being in the project”, rather than static drawings or pictures. 

The Tech in Neotech.  Neotech is high tech.  It’s unfortunate Neotech wasn’t available when I was a practicing city planner.  I sure could have used their data capturing tech, including advanced scanning, high resolution cameras, drones and scanner, some of which are AI aided to generate ultra-high-quality imagines.  At HUD we said, Leave No Neighborhood behind. At Neotech they say leave no detail behind! 

With the data firmly in hand, Neotech magic goes into second gear.  Their advanced system converts the data into detailed point cloud models.  The models are literally made of millions and millions of data points producing precise three-dimensional renditions.  Planners can display these incredibly accurate models, during public hearings for example as part of the citizen participation process.  By the way, the models have utility beyond public hearings.  For instance, users can integrate the 3D models in video games, or music videos, virtual reality settings, etc.

Last, and as expected, Neotech fully integrates artificial intelligence.  No surprise.  One example is the use of AI to detect and correct imperfections.  Another is to enhance the accuracy of the point clouds.  And, Neotech uses AI to manage the mountain of data it produces when creating models. 

Time for a proverb from Romania: “water passes but the stone remains.”

Until next time,

Yogi Nelson

Artificial Intelligence, behub, Blockchains, Uncategorized, Yogi Nelson

beHub: Revolutionizing Healthcare with Cardano Blockchain

Yogi Nelson

Namaste Yogis.   Welcome to the Blockchain & AI Forum, where your technology questions are answered!   Here no question is mundane.  As a bonus, a proverb is also included.  Today we explore the beHub project and its connection to Cardano.  We start with beHub.

According to its website, “… beHub is a single, integrated platform that supports clinicians and healthcare workers with 24/7 access, anytime, anywhere.”  That sounds appealing, but too general. More specifics please.  Okay, try this:  beHub is analogous to Spotify, the music streaming company—a centralized place where medical professionals can access medical device information and training so that health care facilities and clinicians have access anytime from anywhere.  Better.  How about more detail from three perspectives:  medical service providers, hospitals, and manufacturers.   I’ll conclude with the big Cardano reveal.

Medical Service Professional. Let’s take Mary as an example; Mary is a nurse.  In the past, if Mary had an urgent question about a certain medical device her options were:  1) inquire with a co-worker and strain the overworked staff; 2) guess and risk the health of the patient (worst option); or 3) search and delay the care and risk being incorrect or rely on outdated information.  That was then; with beHub Mary can get her answer efficiently, effectively, and securely. How is that possible? Simple. beHub offers up-to-date medical device knowledge.  Suppose Mary has years of experience but has been out of university for some time.  With beHub she can remain abreast of the most recent innovations in medical technology on the beHub platform by watching tutorial videos, for instance.  Moreover, beHub offers continuing education.  Mary can use beHub to stay at the vanguard of medical innovation and fulfill continuing education obligations.  If Mary is new to nursing, existing information is also readily available.  Either way, it works. 

Hospitals. Does beHub benefit hospitals?  Absolutely! First, beHub helps to manage overwhelming workloads and constant pressure. In addition to mountains of duties, clinicians are also expected to master an ever-expanding array of devices and products.  Is this possible without automation?  No way!  Second, with beHub hospitals can reduce risk to patients by offering the training and support required to properly operate sophisticated medical equipment.  This leads to benefit three.  A hospital that uses beHub will maximize the value of its investment in medical equipment.  Given the price of medical technology, it’s no surprise hospital purchasing managers love it.  

Medical Equipment Manufacturers. To medical equipment manufacturers, beHub says to consider four points.  Let’s start with the support it offers to sales teams.  With beHub, sales teams can communicate product changes and up-to-date information on all products on offer to end users.  If clients are in remote locations, this can be an extra benefit.  No need for the sales team to undertake unnecessary trips or answer the same question repeatedly.  Second, with beHub medical providers have 24/7 access to product training and education modules.  With beHub end users can avail themselves of the information needed to operate products safely.  Awesome!  One more.  beHub, offers manufacturers insight into critical customer data, such as what devices are being used, how often, under what conditions, by whom, etc.  If you are a manufacturer, beHub is a market intelligence officer!

Big Reveal and drumroll please! Cardano is the layer one blockchain used by beHub. Cardano operates in the background without anyone knowing it other than those who read my blog!  Another victory for blockchain tech and Cardano.

Time to end with a proverb from Bulgaria:  work without reason, but don’t stay idle without reason.

Until Next Time,

Yogi Nelson

Artificial Intelligence, Blockchains, computer vision, Yogi Nelson

WHAT IS CAMBRIDGE UNIVERSITY’S ARTIFICIAL INTELLIGENCE INITIATIVE?

Yogi Nelson

Namaste Yogis.   Welcome to the Blockchain & AI Forum, where your technology questions are answered!   Here no question is too mundane.  As a bonus, a proverb is also included.  Today’s question comes from Ian and he wants to know what is the Cambridge University Center for Human Inspired Artificial Intelligence (CHIA)?

Ian, you came to the right place.  CHIA is dedicated to advancing AI for the betterment of human society, says Cambridge.  According to Cambridge, CHIA brings together an interdisciplinary community of researchers to investigate the innovative ways in which human and machine intelligence can be combined to yield AI which is capable of contributing to social and global progress.  An ambitious task indeed!  Let’s learn more about CHIA by examining their program in detail.

Fundamental Human-Level AI. Within the Fundamental Human Level-AI program area, CHIA aims to combine the latest advances in algorithms and computing with human insights and intelligence.  The intent is to improve machine learning, speech and language processing, computer vision, robotics and other forms of machine intelligence.  What makes the program unique, say CHIA, is the collaboration between AI and a wide variety of human-centric disciplines.

Responsible AI. Ethical use of AI, is a central tenet at CHIA, says CHIA.  The standard CHIA aspires to is non-bias models with human oversight of AI.  They correctly note, AI systems used for sensitive, assistive or predictive tasks such as medical or legal decision-making must aim for the pinnacle of ethical behavior. I find this reassuring but only time will prove whether they adhere to this noble standard. 

Social and Interactive AI. Over the last few years, it’s become increasing obvious that conversational AI technology enables humans and computers to communicate clearly and effectively through speech or text.  For instance, chatbots and voice assistants are now commonplace, sometimes to much consternation! Not surprisingly, CHIA has decided to dedicate resources ensuring AI learns to recognize human communication and its nuances.  To do so, CHIA is blending the disciplines of computer science, sociology, psychology, physiology and others.

Cognitive AI. CHIA’s goal is to equip machines with human-like learning, reasoning and perceptual abilities.  Holy consciousnes!   According to CHIA, human-like computing could be integrated into AI, cognitive, biological, and other sciences. The end goal? The ultimate goal is to benefit the numerous applications that require close interaction between computers and human users, e.g., AI-powered tutoring, personalized healthcare, among others.

Health and Global AI. Cambridge asserts, and many agree, that AI has many health-related applications, ranging from systems that automatically generate new medical discoveries, diagnostic techniques and treatments to those that use multi-sensory data for early health diagnosis or management of medical conditions. The folks at CHIA note, AI may one day predict major economic, geopolitical, societal, and technological risks. Moreover, the innovations coming out of CHIA could be used to understand, predict, monitor, and manage natural systems and environmental risks such as climate change. To those in the prediction business, I say use the humble on-ramp.

Creative AI. CHIA claims their Creative AI program is aimed at developing systems that can support, augment, or even automate the creative process.  Do you believe the creative process can be automated?  Put me in Camp Skeptical! Being brilliant minds, CHIA staff recognize this endeavor will be “… highly challenging and required close collaboration between fields that have been traditionally quite distant from each other: AI and arts and humanities.”  An elegant understatement.

Time to end with a proverb from Pakistan: “a white beard does not mean gold or wisdom”.

Until next time,

Yogi Nelson