Financial reports can feel intimidating, especially for founders without a finance background. But understanding the basics can dramatically improve decision-making and confidence. In this practical guide, Rebecca Nankya Ssemugabi breaks down how to read a balance sheet in simple, everyday language, supported by a hands-on balance sheet generator you can try yourself. M ost founders don’t struggle with running a business. They struggle with understanding the numbers behind it. And few reports feel more intimidating than the balance sheet. But here’s the truth: a balance sheet is simply a snapshot of what your business owns, what it owes, and what’s actually yours at a specific point in time. The Balance Sheet in One Line Every balance sheet is built on one simple equation: Assets = Liabilities + Equity Assets are what the business owns Liabilities are what the business owes Equity is what belongs to the owner(s) If this equation balances, the balance sheet makes sense. A Simple Exa...
The IoT is the latest fad in the computing world. If you haven’t heard it yet, it is the Internet of Things! It does what it is supposed to do. It connects the electronic devices to the internet, e.g., your refrigerators, microwave ovens, cars, and even doorknobs. By 2020, it is estimated that 50 billion devices will be connected to the IoT. Despite the pace of connectivity, IoT is still figuring out some very basic problems, such as privacy concerns, security issues, integrating it with traditional computing, data transfer, etc. With the rising number of crimes, traditional computing doesn’t seem very promising. Perhaps Computing based on Quantum Mechanics may resolve these pressing issues.
What is Quantum Mechanics?
It is a branch of physics that deals with matter at the subatomic level and its interaction. It differs from Classical Physics in that energy, momentum, and other subatomic properties are quantized or restricted to a certain level. At that level, matter can behave like waves or particles which are called wave-particle duality.
Challenges in IoT
Akin to the internet of computers or the internet, the internet of things is expected to grow exponentially. However, IoT faces new challenges. Are the devices connecting to the IoT trustworthy? Sophisticated tools for breaking into networks by hackers will keep organizations to not allowing their devices to connect with IoT.
Currently, the devices use radio frequencies for data communication. Even WiFi Networks are easily hacked into, and critical information is sniffed over the air. Billions of devices will be connected through IoT; there is a need to devise a more elaborate addressing system. And finally, the amount of data these devices will create needs to be processed by more powerful and advanced processing systems. The quantum computing proponents claim the nascent technology can provide solutions to these problems.
The D-Wave System is claimed to be the first quantum computer. Despite its uncanny resemblance to the computers of the 1950-the 60s weighing tons; it successfully proves the quantum mechanics computing theory. But here is a glitch. It doesn’t do it with quantum speed. The researchers have published a blueprint for a quantum computer that will have the processing power these computers are theoretically supposed to produce.
How will Quantum Mechanics help IoT?
According to the World Economic Forum Framework for Internet of Things or IoT faces some very basic and pressing issues, such as privacy concerns, security threats, incompatibility, and interoperability. The proponents of quantum computing claim that the technology is now mature enough to resolve these issues:
Quantum Computing is fast
As compared to traditional computers, which work on binary values or bits, i.e., 0 or 1, quantum computers use qubits or the properties of subatomic particles called Superposition. Superposition means that the particles can be in any orbit or state at the same time, making it possible to have multiple values, e.g., up, down, here, or there.
It is more secure
The Integer Factorization is the crux of all cryptographic techniques. Ordinary computers with limited processing can’t handle the factorization of large integers. Quantum computers can use Shor’s algorithm to factorize. Similarly, the other popular way is to use discrete logarithmic problems. Quantum computers can decrypt these with Shor’s algorithm, too.
Interoperability
Another factor that is hindering the IoT is interoperability. Currently, the connecting technologies are divided by data rate, range, and fragmentation. The devices using WiFi and 4G data connections are almost incompatible with slow rate and range connections, making devices using these technologies incompatible for communication. Quantum Computers will resolve these issues with quantum teleportation.
Perceived Risks and Investment
Similar to other technologies, any new technology is prone to risks and depends entirely on the behest of investors. Despite its novelty, initiatives by many countries and organizations have shown that quantum computing isn’t only possible; it will be running the IoT solely. China launched the first quantum communication satellite to test quantum communication in space in 2016. The satellite will check the feasibility of quantum communication between Earth and Space.
Similarly, researchers have published a blueprint for a microwave-trapped-ion-quantum-computer, which is in the prototype stage. The prototype is expected to be millions of times faster than the currently available traditional computers.
Computer Technology has always defied the apparent market situation, as Thomas Watson of IBM said in 1943, that there is a world market of maybe five computers, but time proved otherwise. Quantum Computers may provide the solutions the IoT is currently facing. Let’s keep our fingers crossed till the prototype quantum computers show up.
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