Fifth Generation (5G) Networks, Emerging New Global Economic and Market Order, and Huawei
by Gurumurthy Kalyanaram
As now widely recognized, fifth generation (5G) networks are critical to the infrastructure. 5G network represents a new generation network able to transmit data with a speed higher than 1 gigabit per second and with much lower latency.
5G Networks, and New Emerging Global Economic and Market Order
One of the important developments that is likely to dramatically alter our society, commerce and economy, and polity is the conceptualization, design and increasing rise of crypto-currencies and block chains in economy and commerce. With a clever application of cryptography, we will be able to secure the transfer of money and payment without needing a trusted third party. No central banks, no clearing houses.
Per most technology and policy experts , the role of traditional currency will diminish in the next decade or two and even disappear. Obviously, this will change the optics and substance of commerce and conduct. Experts are already discussing regulatory mechanisms for the new world order.
The crypto-currency and block-chain efficiencies and effectiveness will depend much on the speed of the networks, and the 5G networks will be crucial in this context. Accordingly, Huawei will have a big role to play in the design of new global economic and market ecology and order.