Internet Transformations-Cloud Computing
These days, the global economy is influenced by rapid fundamental changes. Not only is everything driven by data but also the changes are characterised by all sorts of systems which include the government, logistics, healthcare, defence, etc. (Jacobovitz, 2016). In order to improve these systems, it is essential to make them be quantified and transparent that the citizens under a government or the end-users of an industry are aware of what is going on. Another essential factor is that the productivity which is carried out in this sector.
The recent trend of IoT or Internet of Things is a popular word now. Everyone around the world is trying to expand their business and produce substantial amounts of data by adapting their business model to run smooth with an IoT system in place. For this integration, the aspect of cloud computing is essential.
The purpose of this essay is to portray a critical account of its genesis and showcase how cloud computing is a part of historical trends in communications media or information management. The essay argues that those benefits of cloud computing and determines how one can get more advantage from this technology from its transformative effects in political economic, social and cultural terms. In the first section, the essay discusses the structure of data communication with the help of cloud computing before shifting on to the commercial aspect of the technology in the following section.
Cloud-computing is among the recent trends in the field of information technology and computer science that transforms computing inside the four walls of a room to a global web. The key part of this technology is that the user has no worries regarding the maintenance or the management of resources (Aazam, Hung & Huh, 2014).
For example, a user is trying to upload several pictures from his camera to his PC. He wants to store the high-resolution pictures he took on his recent trip and clear the camera storage so that he can click some more. However, his PC is old and does not have adequate storage to hold all the high-resolution pictures. By using cloud-computing technology, he can upload the pictures to a cloud storage and resolve the issue. This is a simple example of how cloud-computing helps in our daily lives.
Fig.1: Communication in the cloud (Aazam, Hung & Huh, 2014)
There are several other uses of cloud computing. This technology can also be considered as an enhanced version of grid computing, distributed computing and parallel computing (Zhang, Zhang, Chen, & Huo, 2010). With the help of this technology, any computing device has the potential to become an interface of a large-scale data centre.
In these years, the whole world is Web 3.0 which can also be referred to as the ever-present or omni-present computing web. With the emergence of other technologies such as blockchain and artificial intelligence, it will be the ground-breaking technology consisting of the combination of both to help various industries in substantial levels.
Fig 2: Cloud-based data storage (Aazam, Hung & Huh, 2014)
To consider the e-commerce industry, where a business has chosen a cloud-based blockchain system. One of the most important benefits of the cloud-based blockchain technology is the notion of transaction validation. With a tamper-proof system in place, an e-commerce business powered by blockchain technology will be able to reduce duplicate as well as fraudulent transactions.
All those details of the transactions are stored in a ledger which is accessible by all the members of the ledger, thereby making it further tamper-proof. In a blockchain-enabled transaction system, the identity of the sellers and buyers will be hidden, which makes the transaction anonymous. The details of such a transaction are also hidden, thereby integrating transactional privacy to all members of the distributed and decentralised ledger of the e-commerce business.
Moreover, each transaction can be traced back to the buyer and seller details with the help of IP tracking and blockchain graph analysis. So that the use of blockchain technology can help substantially in mitigating illegal activities such as thefts, money laundering, etc.
Fig.3: Cloud-based Blockchain Design for an E-commerce client (Liu and Li, 2020)
The application of a cloud-based blockchain technology in the e-commerce industry will help to construct a decentralised marketplace. For a market like this, the transactional functions are helpful from the buyer’s as well as the seller’s end ensuring transparency and removal of fraudulent activities.
The roles of additional franchises and other third-party applications become less significant for each transaction made with the help of the blockchain system (Reid and Harrigan, 2013). So, this can lead to e-commerce losing out on potential investors and impacting on their generated revenue. Fewer jobs for everyone else in this booming market can be regarded as an ethical issue which needs to be addressed. Moreover, implementation of a cloud-based blockchain with the high-security tamper-proof system requires a lot of resources which can be expensive for certain businesses.
Application of ICTs in web-based e-commerce businesses offers an online transaction platform which is essential in selling products or any form of services to the end-user. With the presence of an online transaction system, cybersecurity and trust issues are bound to come up.
The role of trust is primarily significant in the sustainability of transactions in e-commerce industries (Lee et al., 2018). Studies indicate that the impact of trust problems is comparatively much more critical in the case of transactions of e-commerce industries than ordinary commercial businesses (Kim, 2014). This is mainly due to the fact that the uncertainty metric is relatively higher for e-commerce industries.
However, fraudulent activities in online transactions are of an alarming rate which has a significant impact on the financial aspect of e-commerce industries. In the future, it is expected that the generic mass will be aware of the benefits of cloud-computing and blockchain technology. It is estimated the application of a cloud-based blockchain will not be restricted to cryptocurrencies only, and the more and more systems will be able to implement this technology in their systems.
The payment getaways that most of us use for online transactions should be replaced by cloud-based blockchain-enabled transaction systems, which will help substantially in reducing intermediary costs (Sheth & Subramanian, 2019). The tamper-proof feature of blockchain also suggests that e-commerce businesses may not require to hire expensive cyber-protection agencies as cyber-attacks are bound to be lowered with the advent of blockchain systems.
In conclusion, cloud computing is playing an important role in this internet dominated era, not only for e-economic grown, but also for induvial users. Although e-commerce industries are taking huge advantage by this technology, it makes business data easily pass by between difference servers, helps to reduce cost, and keeps business safety. It could be imagined that in the future, the internet economic industries under the 5G internet, a better, faster, safer internet era would change people live, its influence is tremendous.
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Jacobovitz, O., 2016. Blockchain for identity management. The Lynne and William Frankel
Kim, D.J., 2014. A study of the multilevel and dynamic nature of trust in e-commerce from a cross-stage perspective. International Journal of Electronic Commerce, 19(1), pp.11-64.
Lee, S.J., Ahn, C., Song, K.M. and Ahn, H., 2018. Trust and distrust in e-commerce. Sustainability, 10(4), p.1015.
Sheth, A., & Subramanian, H. (2019). Blockchain and contract theory: modeling smart contracts using insurance markets. Managerial Finance.
Zhang, S., Zhang, S., Chen, X., & Huo, X., 2010. Cloud computing research and development trend. In 2010 Second international conference on future networks (pp. 93-97). IEEE.