On the other hand, Finance is a very broad term that describes the idea of management of large amounts of money through activities associated with banking, debit, credit, money and investments.

With the continuous advancements in the field of science and technology, there has been the involvement of technology in almost every branch of knowledge that exists in this world be it security, food, currency, architecture, medicine, art, astronomy and so on. Simultaneously, technology has also proved to be fortuitous in the field of finance and that too on a very high scale. Thus, the branch which deals with the symbiosis between finance and technology and consists of software, applications and other digital services that are used by the consumers for activities like mobile banking, investments and loans, is referred to as ‘FinTech,’ a portmanteau of Financial Technology. 

‘Tech’ in ‘Fin’- Applications

Customer Service is one of the major sectors that has exploited Financial Technology in the last few years. A decade ago, an efficient customer service team was essential in order to carry out the financial tasks involved within a company. But, with the advancements in FinTech, AI chatbots have made consumers’ life way too easier and act as an avenue for customers to interact with. The chance of error is significantly reduced and the workload on humans is also minimised. Earlier we needed a separate team to carry out the bank work but now with the evolution of FinTech, we don’t even need to go to the bank personally to open a bank account, transfer cash or update the details. Everything can be done conveniently by using banking apps and other such software on smartphones.

In finance, computer programming has been proved to be extremely useful in a wide range of situations which include setting up and managing electronic trading systems, pricing derivatives, risk management, trade management platforms and so on. Python, in particular, is important for the latter three. Python can also help in creating analytical tools and models and can even modify Excel Spreadsheets to provide greater efficiency. Another advantage of using this language is that it provides a large array of libraries that can be effectively used in finance to build financial models and perform other mathematical operations. 

Some useful Python libraries and packages include –

• numpy: This package is used for performing scientific and computational tasks on python. Besides that, it is also used in numerical programming, finance, industry, academia and so on. With its roots in all these fields, this library specializes in basic array operations.
• pyfin: If the user wants to perform basic options pricing in python, they can simply use the pyfin library.
• ffn: This is a financial function library for python. It is basically used to quickly carry out analysis of trading strategies and financial asset price series and contains many useful functions for those who work in quantitative finance.
• QuantPy: This is a framework created primarily for quantitative finance in python. It has a Portfolio Class that can import daily returns from search engines like Yahoo.
• zipline: This is a Python based algorithmic trading library. Besides being an event-driven system, it also reinforces backtesting and live trading.
• TA-Lib: This is a software that is widely used by software developers involved in trading and required to perform the analysis of financial market data technically. Another advantage is that it has an open-source Application Program Interface (API) for Python.
• trade: This Python framework is used for the development of financial applications. Once the user informs the items he has in stock and a series of subsequent occurrences with those or other items, trade calculates the effects of those purchases, sales and so on and by and by gives back the new amounts and cost of items in stock.
• QuantSoftware Toolkit: This is an open-source software framework on Python, designed to support portfolio construction and management. This QS Toolkit is primarily for finance students, computing students as well as quantitative analysts with programming experience.
• finmarketpy- This is a python-based library that enables us to analyse market data and simultaneously backtest trading strategies using a convenient Application Program Interface, which already has the templates to define backtest.
• pyfolio:  This is a Python library used primarily for risk analysis and performance of financial portfolios. It works efficiently with the Zipline open-source backtesting library.
• finance: This is also mainly used for Financial Risk Calculations. It has been so optimized such that it is easy to use because of features like Class Construction and Operator Overload.
• qfrm: It is abbreviated form of Quantitative Financial Risk Management. It constitutes amazing Object Oriented Programming tools for measuring, managing and visualizing risk of financial instruments and portfolios.
• visualize-wealth: If the user wants to backtest, construct, analyse or evaluate portfolios and their benchmarks then he can easily use this library in Python to perform all the tasks mentioned above.
• empirical: This is used by both zipline and pyfolio and is used for common financial risk analysis and also in performance metrics.
• statsmodels: If the users want to explore data, estimate statistical models or perform other statistical tests then they can use this Python module.
• ARCH: This is used to perform financial econometrics in Python.

Java is another popular language that is used in the banking industry. This is primarily due to its secure and stable design. Java is a platform-independent and portable language and thus it can easily run on the newer versions as well even when a change was made. It is necessary to install a security system since banks handle a lot of sensitive and confidential information. Java acts as a stimulus and helps banks perform all the tasks while maintaining an appropriate level of confidentiality.

Data Visualization in FinTech

Most of the people in this world are visual learners i.e., they prefer to visualize a certain concept to understand it more thoroughly. Charts and graphs allow the users to understand the growth or depreciation of a certain thing by comparing it with the previously stored data. Histograms are the best means to represent such data statistically. A manager can take large quantities of data, can see the bigger picture more clearly and can provide a concise report.

Data visualization is the creation of visual representations of data that clearly communicate insights through charts and graphs. These charts and graphs help leaders and decision-makers make better, data-based decisions more quickly than the traditional data table. And it keeps them from getting lost in a Where’s Waldo-style puzzle maze of stats and data points. (Sisence, 2020)

Data visualization allows us for quick interpretation of results. We can easily create a chart of the data and see the trends of that particular data over a period of time or over any other variable. For example-

This visual data representation is split into a percentage gauge in addition to a detailed bar chart and will help you to accurately calculate your Earnings Before Interest and Tax (EBIT).

Data Visualization can be easily done using the Financial Toolbox in MATLAB. It provides numerous easy-to-digest functions for mathematical modelling and statistical analysis of financial data. We can analyse, backtest and optimise investment portfolios taking into account the turnover, transaction costs, semi-continuous constraints and minimum or maximum number of assets. This toolbox also enables us to estimate risk, analyse yield curves, price fixed-income instruments and European options, and measure investment performance. (MathWorks, 2021)

Stochastic Differential Equation(SDE) tools let us model and stimulate a variety of stochastic processes. Time series analysis functions can also help us perform various productive tasks. They let us perform transformations and regressions with missing data and convert between different trading calendars and day-count conventions. (MathWorks, 2021)

There are various other libraries in our hand which are used for data visualization in finance-

Matplotlib- This has established itself as the benchmark for data visualization and is a robust, reliable and efficient tool modelled after MATLAB’s plotting capabilities. It can be used to create static image files of almost any plot type. (Foy,2021)

Seaborn- This is another common data visualization library that is based on Matplotlib and provides a high-level interface for drawing attractive and informative statistical graphs. (Foy,2021)

Plotly & Dash- Since all the previous graphs were static and could not be altered and interacted with in any way. Plotly library solves this problem using which python creates interactive plots as .html files. Users can zoom in, select, hover and perform several such tasks with these plots but in order to regenerate a plot to see updates you need to re-run the .py script. Dash helps to resolve this problem. Instead of creating a .html file, Dash produces a dashboard web application at your localhost which you can then conveniently visit and interact with. (Foy,2021)

Some other prominent libraries include Pandas and Time Series Visualization which are extremely useful as well.

Business Intelligence (BI)

Business Intelligence has been defined as “a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making.” (Forrester, 2021) Thus, Forrester refers to data preparation and data usage as two separate but closely linked segments of the business-intelligence architectural stack.

Business intelligence can help companies make better and appropriate decisions by showing them the present data as well as the historical data within their desired context. BI can be used by analysts to provide performance and competitor benchmarks to make the organization run smoother and more efficiently. Market trends can also be easily spotted to increase sales or revenue.

The best way to present BI is through Data Visualization.

Listed below are few ways in which business intelligence(BI) can help companies make smarter, data-driven decisions:

• Identify ways to increase profit
• Analyse customer behaviour
• Compare data with competitors
• Track performance
• Optimize operations
• Predict success
• Spot market trends
• Discover issues or problems

Conclusion

BI is rapidly evolving according to the needs of the business foundations and technologies. Companies are striving to be more data-driven and efforts to share and collaborate data are continuously increasing. In the future, we can definitely say that data visualization will be even more essential to work together across teams and departments.

And with the continuous advancements in technology and science, we can definitely hope to see a new phase, a new era of modernization where FinTech would rule the world of finance.

References

Evelson, B., & Nicolson, N.(2008). Topic overview: Business intelligence.  https://www.forrester.com/report/Topic+Overview+Business+Intelligence/-/E-RES39218#

Foy, P. (2021). Python for Finance: Data Visualization. https://www.mlq.ai/python-for-finance-data-visualization/#:~:text=%20Python%20for%20Finance%3A%20Data%20Visualization%20%201,Python%20data%20visualization%20library%20based%20on…%20More%20

MathWorks. (2021). Financial Toolbox. https://in.mathworks.com/products/finance.html

Finance Train. (2019). Best Python Libraries/Packages for Finance and Financial Data Scientists. https://financetrain.com/best-python-librariespackages-finance-financial-data-scientists/

8020 Consulting. (2020). The Growing Power of Data Visualization in Finance. https://8020consulting.com/data-visualization-in-finance/

CFI. (n.d.). Programming. https://corporatefinanceinstitute.com/resources/knowledge/other/programming/

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Digitalising Indian Villages

According to a report by Kantar, rural India, with 304 million monthly active internet users, will be the major driver of internet usage in the country. Rural India saw 4 times more growth in active users than urban India. With increasing access to the internet, rural India has found more opportunities to grow. Farmers can now get connected to the National Mandi for their produce, the artisans can reach out to global consumers through e-commerce and the younger generation can learn better skills and get better employment opportunities. It has also strengthened Panchayati Raj governance and helped in better implementation of government schemes. Its potential impacts on the children can lay the ground for a healthier and more skilled generation.

Internet in the Education Sector

Even with the state making sure that education as a right is accessible by all, a large number of rural children are either not able to make it to schools or have to face a lack of quality education. Some of the schools are located in remote areas which makes reaching the school a challenge itself. Schools in rural areas also suffer from lack of infrastructure and shortage of teachers. According to a report by Forbes India, there are 97,273 single teacher schools in India, this is equivalent to 8.8% of the total schools in India. These hurdles are a major reason for school dropout rates as well. This makes it difficult to achieve the United Nation’s fourth Sustainable Development Goal, which aims to provide inclusive and equitable quality education to promote lifelong learning opportunities for all. Access to the internet is fundamental to achieving this vision for the future.

Internet-based education has the potential to mitigate issues of quality and disinterest. Teaching through the use of video lessons can make the lessons interactive. Internet also opens up an opportunity to connect with the wider world outside the classroom. In addition to its use by teachers, guidance on how to utilise the power of the internet can encourage students to explore and learn from this repository of knowledge. Their skill and knowledge accusation would not be restricted by the syllabus. Internet also makes it possible for the teacher to reach out to a large number of students across various locations at the same time. This can play a major role in solving the issue of teacher shortage in the country.

The Integrative approach to technology project being implemented in the seven north and northeastern states of India is an indicator of how the internet can be utilised to deliver knowledge in rural areas. According to the teachers in the states, project-based learning through the internet has made the students more inquisitive. The lessons have become more interactive and students were able to connect even the abstract mathematical theorems to real-life situations. The internet also allowed students to access information in their local languages. Internet thus has the potential to strengthen the efforts of making the basic human right to education become universally accessible.

Internet and Social Growth

Childhood has, on numerous occasions, been considered the base of a healthy youth and an overall productive life. But there are a number of challenges in ensuring that every child has a healthy and enriching childhood. Instances of child labour are high in the country. Child marriages and malnourishment are other inhibitors to a normal childhood. Inadequate nutrition in the first 1000 days of a child’s life can lead to stunted growth, associated with impaired cognitive ability and reduced school and work performance. As per the Global Nutrition Report, 46.6 million children in India are stunted.

Internet has the potential to change this. It allows the information to reach the most remote of areas. Organisations, both governmental and non-governmental, are utilising its powers to reach out to the target audiences. Its role in the spread of education has been discussed above. All this together results in better awareness about the rights of children and the legal action that follows the breach of rules. It’s a two-way road, community activists can also use internet to reach out to organisations for help in order to stop child marriages or child labour. An interesting example of the use of internet to reduce or stop child marriages is to be found in Bangladesh. They, together with Plan International, have launched an app that allows the marriage registrars, solemnisers or matchmakers to establish the true age of the Bride and Groom. Since the physical documents were easy to forge, this app helps to digitally verify the document. It has helped to stop as many as 3700 child marriages. Government of India also launched a website pencil.gov.in to empower and encourage the civil society’s participation in the Anti- child labour programmes. It allows them to raise a complaint online instantly. Thus, through these applications and websites, internet allows for a an active community participation in the achievement of global goals with respect to Children marriages and child labour.

Another important hurdle to an active and fruitful childhood is lack of adequate nutrition. When the women in the family do not receive the nutrition they must, it leads to rising cases of children being malnourished or being born with physical and mental deficiencies. A malnourished child cannot even make use of his/her cognitive skills and usually lags behind in life. Targeting the mother and child health, thus, could go a long way in reducing malnutrition among rural kids. Ministry of Women and Child Development, recently launched ICDS-CAS ( Common Application Software). It utilises internet technology for real-time Monitoring of nutritional outcomes. It would help in better tracking of beneficiaries and would make sure that home visits for pregnant women are done on time. It digitalises data entry and thus makes nutrition statuses available at all times. It has also improved the supervision of ground-level Anganwadi Workers and Lady Supervisors. This ensure that all benefits reach the mother on time, she takes proper nutritional supplements and gets an institutional delivery done.  Internet, thus, has the potential to bring about improvement in mother-child health. This will have a domino effect on the lifelong productivity of the child.

There is still more left to do!

The Government of India has, over the years, taken a number of steps to reduce the rural-urban digital divide. Going back five years, the government launched the Digital India mission. It was an umbrella programme with schemes in areas of digital infrastructure, digital empowerment, on-demand government services. One of the main agendas of the programme is to expand internet connectivity to rural areas. The government aims to achieve the goal of a digital village – rural areas with telemedicine facilities, virtual classes and solar power based WiFi hot spots. National Optic Fibre Network will be used to ensure internet connectivity to 2,50,000 gram panchayats. Rural Internet Mission involves the conversion of some 1,50,000 Post Offices into internet-based multi-service centres. In December last year, government launched a project with an investment of seven trillion – The National Broadband Mission. The agenda is to provide broadband access to all villages by 2022. Three million route kilometres of optical fibre cable is planned to be laid and density of tower per thousand is expected to increase.

Despite the fact that rural internet users are on a rise due to the efforts of the government but there are still hurdles left to cross. Lack of infrastructure necessary for the setting up of the connections is a major issue. In remote areas and difficult terrains, it becomes extremely difficult to lay down the fibre optic cables. The rural areas also suffer from poor internet speed making the use of internet ineffective. With widespread poverty, not everyone is able to afford a smartphone or personal computer to access the internet. Fluctuating electricity availability is another issue.  We have come a long way but there is still a long road to tread.

Conclusion

Internet has immense potential to bring about a positive change in the lives of the rural kids. This can be a major push to India’s dream of reaping the demographic dividend. Policymakers have realised the importance of India’s villages in making India a digital nation. But while making all the efforts we need to stay aware of the fact that rural India also suffers from digital illiteracy. Hence,  according to a study by the World Bank, just providing them with internet connection will not lead to full utilisation of the internet potential. Even in school, teachers need to be well trained in how to prepare and disseminate an internet-based lesson. The ground level workers in villages need digital guidance so that they can efficiently use internet for awareness and monitoring. The policymakers and development experts seeking to improve the lives of rural kids must make sure that increasing internet penetration must be balanced with digitally skilled citizens.

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Within a short period of time, the country rose to be one of the high-income countries in the world. Currently, it comprises 0.42% of the World’s GDP (PPP). There was an exceptional shift from the export of labor-intensive goods like textiles, garments and basic electronics to high-value products like telecommunication, equipment, pharmaceuticals, refined petroleum, electronics, chemicals, etc. Singapore received 14 loans over the period of 1963-1975 from the World Bank and the majority of them was taken for infrastructural development like port expansions, sewage system, power and telecommunications etc. Now having one of the best infrastructures in the world, it has progressed in such way that it contributed US$10 million for the ‘Global Infrastructural Facility’ of World Bank. A loan taker to fund contributors for the same sector is a commendable evolution. Over 80% of Singapore’s residents live in public housing. Manufacturing and service sectors stand as a support system for Singapore’s evolution. 

Now Singapore is ranked NO.1 among 42 countries in the Asia- Pacific region, having the status as the world’s freest economy in 2020 index with an economic freedom score of 89.4. According to the Global Competitiveness Report (GCI 4.0), Singapore is the most competitive economy with the first rank in road quality infrastructure, the efficiency of seaport and airport services, sea transport connectivity, macroeconomic stability, public sector performance, trade openness, labour market and no terrorism incidence. Singapore’s economic policies and strategies mostly focus on long-term investment and growth. One such strategy of Singapore which is futuristic in nature is discussed below.

Smart Nation

The third industrial revolution which is also known as digital revolution came into force with rapid increase in and adoption of computerization. From then, growth of technology is associated with accelerated innovations and inventions. Technology plays a significant role in economic development. While many countries are focusing on their digital future, Singapore is yet another country with its rapid digital transformation. The success of National Computerisation and Growth of the info-communications industry of Singapore stands as a certification for its national digitalization efforts. Taking a step ahead while keeping in mind the future challenges with respect to resource constraints, rising ageing and urban population and to attain the comparative advantage for Singapore, it launched the ‘SMART NATION’ initiative on November 2014 with a vision to provide a fulfilling and meaningful life for their people.

The initiative aims to ‘TRANSFORM SINGAPORE THROUGH TECHNOLOGY’ by providing a convenient and sustainable living for its people with enhanced access to information and opportunities, space for businesses to improve productivity, innovation and growth and finally to have a government that can use the technology to serve its people better. Smart Nation would be a combined effort by people, governments and industries for their prosperous future.

The three pillars of the Singapore’s Smart Nation are:

  The Digital Economy focuses on attracting foreign investment, improving business efficiency and competitiveness along with providing wide opportunities for Singaporeans to stay ahead in the future.

• Digital Government:  The central aim of the future digital government is to create” a government that is digital to the core and serves with the heart.”

By using the technology it focuses to serve its people and business with better opportunities to get a good service experience.

• Digital Society: A complete digital society, in general, should make sure that all the people in that society have access to technology and they are in a position to adopt them with relevant knowledge and The Digital Society of Singapore also aims at digital inclusion.

Smart Nation and Digital Government Group (SNGG) which involves Smart Nation and Digital Government Office (SNGO) along with implementing agency, Government Technology Agency (Gov Tech) is responsible for building a Smart Nation.

According to the Smart Nation and Digital Government Office, the initiative’s ”priority is to harness technology to address national challenges and drive transformation in key domains: health, education, transport, urban solutions and finance.”

• myENV app which provides the current environmental information and updates
• OneService app through which people can report all municipal issues in a common platform
• Smart Towns includes providing intelligent homes that make life easier, comfortable and enjoyable for the people. Example of this is the development of Punggoll town
• Autonomous vehicles which is helpful for the elderly and specially able persons
• On-demand shuttle where operations of transport services would be demand-driven so that resource management can be monitored
• HealthHub which is an online health information and service  portal
• Contactless fare payment for public transport, TeleHealth, Digital Government Services, Data Innovation Program Office, CorpPass for businesses are some of the initiatives which are paving way for the Smart Nation.  

 The Strategic National Projects are notable ones which stand as an enabler for building the Smart Nation. They are,

1. CODEX
2. E-Payments
3. Moments Of Life Initiative
4. National Digital Identity
5. Smart Nation Sensor Platform
6. Smart Urban Mobility

Smart Nation Scholarship: The best resource available in a country would be its young talent pool and a nation which utilises it in a better way will have a greater advantage. Singapore is taking a big step towards future of technologies, in order to achieve this, the country has to appreciate and develop the young brains and this scholarship is one such way to help the pillars of the nation who are going to play an active role in the transformation with technology.

In order to bring the expertise in the area of technology and engineering, they also provide Smart Fellowship so that there would be birth of innovative ideas from different individuals.

Challenges

 According to IMD Smart City Index 2019, the smartest city in the world is Singapore. In 2018 it also won the Smart City Award in the Smart City Expo World Congress. Though the nation travels towards its goal, there are also many challenges ahead on the road. According to the Institute of Policy Studies, in 2017, 55.9% of Singaporeans polled, were optimistic about Smart Nation initiatives and in 2018 it was 53.4% so there is a big responsibility in the hands of the state to retain the people’s confidence on the initiatives and to remove the fear of technological disruption. While many nations are piloting with the smart city initiative, Singapore with its brave efforts has planned it for the whole nation and the main challenge lies in reducing the gap between vision and reality. It must also increase technological accessibilities. Another big tension is about digital security.  Having openness in data availability, the state must be very cautious about cybersecurity problems. We could see the government of Singapore taking various steps to overcome these difficulties. Apart from these, there are some of the problems which are external in nature. The growing economic nationalisation, rise in anti-globalisation and protectionism among the other countries, problems like deforestation in Singapore ( It lost nearly 90% of its forest, since 1980 due to increased land usage)and other technology-related environmental problems, rising concerns on the migrant workers who contributes more to that economy may also have an impact on the result of its initiative. Technology when used in the right manner for the right purpose will be fruitful, if not then may lead to negative repercussions.

Conclusion

Despite these challenges, it is undeniable that the country utilized its best resource- the people. At the initial stage of development itself Singapore made sure to educate and upskill its unskilled labour force with knowledge on information technology, electronics etc. In the last three decades their development expenditure accounted for an average of 1/3^rd of the government expenditure. Singapore ranked 1^st out of 157 countries in the Human Capital Index , According to  that, “ A child born in Singapore today will be 88% as productive when she grows up as she could be if she enjoyed complete education and full health.” Also HCI for girls were greater than boys. Be it past, present or future, Singapore’s focus is on its people- it invests in and for people.  Overcoming the challenges and a complete focus on the goal of Smart Nation without any disruption on the road will lead to success.  

Final note– Technology can be one of the means to a better life and not an end.

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In the field of telecommunication, major emphasis relies on the consumers’ need and work purpose for example if there is a demand for faster network it is quite obvious that we will switch to that network. In the chain of fast-growing networks, 5G is a new member and most advanced too.

The term 5-G Pioneer Band was first coined by Professor Stephen Temple.

This technology replaces the old 3G and 4G networks, which were slower than the proposed 5G network.

Detailed Study

Like earlier networks, 5G network or fifth generation network is a cellular network in which the service area is distributed into small geographical regions called cells. All 5G wireless devices are commonly joined to the internet and telephone network by radio waves through a local antenna in the cell.  The main advantage of this network is that they will have greater bandwidth, giving higher download speeds.

Due to the increased bandwidth, it is expected that the new network will not only work for cell phones like the present cellular networks but is also usable as general Internet Service Providers (ISP) for laptops and PCs, competing with present ISPs such as optical fiber network and will add new applications in Internet of Things (IoT) and machine to machine communication.

Higher-frequency radio waves have a shorter range than the frequencies used by older cell-phone networks, requiring smaller cells. 5G network works upon three frequency bands low, medium, and high. A 5G network will be developed from 3 different types of cells, each one needing different antennas, giving a different trade-off speed for different range and service areas.

Properties of 5G Network

The fifth-generation; network derives information from the wireless router through an electromagnetic spectrum, usually from radio spectra. A radio spectrum consists of various types of frequency bands.

5G network is still not available in many countries around the globe but India is amongst the fortunate countries which had access to this technology. 5G network was introduced by Reliance Jio in India.

The frequency of radio waves ranges between 3 kHz and 300 GHz but this technology is in its development phase so we can’t imagine getting the maximum speed offered by this spectrum. Radio band is categorized as Extremely Low Frequency (ELP), Ultra Low Frequency (ULF), Low Frequency (LF), Medium Frequency (MF), Ultra High Frequency (UHF) and Extremely High Frequency (EHF).

The high-frequency range between 30-300 GHz is called millimeter band, and its wavelength varies from 1-10 mm. Wavelength around this range is termed as millimeter waves. This kind of waves is essential for the development of the 5^th generation network.

The radio spectrum in 5G spectrum is shown below.

How 5G Network is Better than Prior Networks

5G network or the modern-day generation is best known for its ultra-high-speed, high accuracy and accessibility. The area of its application makes our day to day life easier. The process of downloading, uploading and syncing has been reduced to a great extent. Now everyone could enjoy their favorite shows and web series without any pause. High efficiency has played a humangous role in 5G network’s success. This prevents buffering of content like audio, video and helps in faster data processing.

The 4^th generation network was unstable and its connection speed was much lower than the 5^th generation network.

Bandwidth is the amount of data that can be transferred through a network at a given time which means that under ideal conditions if any other devices or interferences affect the speed, a device could theoretically experience peak speeds.

Due to which 5G is 20 times faster than 4G.

In 5G network, the size of the antenna was very different than that of the 4G network. Due to shorter wavelengths, shorter antennas are made for the nascently discovered network.

Another difference is 5G network can more easily be understood by the type of data being requested, and can swap into a lower power mode when not in use or when supplying low rates to specific devices, and also turn into a high-powered mode for HD video streaming.

Where 4G lags in providing all the data, needed to a growing number of users and mobile devices, 5G opens the airwaves for more internet based technologies like smart traffic lights, wireless sensors, wearable gadgets, etc.

Application of 5G Network

5G network is broadly used in enhanced mobile broadband, mission critical communications and massive IOTs.

5G finds its major use in development of new technologies. High speed network connections are made possible due to this approach.

Working of 5G Network

Following are the ways 5G network works:

1.      Carrier Aggregation

Carrier aggregation is used to improve the system efficiency. In this method, two or more carrier signals are aggregated to support wider bandwidth of upto 100 MHz.

•        Intra-band contiguous: Two carriers are transmitted at neighboring channels

•        Intra-band non-contiguous: Two carriers are transmitted with channel spacing.

•        Inter-band: In this technique different LTE bands are used for transmission simultaneously. 

2.      Small Cell Concept

In order to enhance efficiency, the cell is divided into micro and pico sections. Spectrum reusability allows adding more users in a small geographical area and handle network more efficiently. 

 3.      MIMO Concept

MIMO is a technology which consists of multiple antennas for transmission and reception. Number of antennas is directly proportional to transmission and reception.

  4.      WiFi offloading

Wi-fi offloading is the main feature of future networks. It allows us to connect using wi-fi and cellular networks can be allocated to other users. It is suitable for those places where cellular network quality is extremely poor but the user still has the option to connect to the network without cellular reception. 

 5.      Device to Device Communication

In the D2D communication network, two adjacent devices communicate with each other directly. Network has control over the devices and use the operator to determine the traffic routing between direct and network path.

6.     Cloud–Radio Network Access

 C-RAN is used for effective communication within a centralized information processing done distinctly within the cloud system. It offers a lot of benefits in system implementation, maintenance and is highly efficient. 

Research based on Health Implications of 5G

The most recent approach in 5G is based on its health impacts over humans, animals and vegetations. The wide usage of 2G, 3G and 4G networks have already shown its adverse health consequences due to radiofrequency exposures.  Scientists are taking precautions before switching to 5G.

According to research, the wide-spectrum of drastic health conditions of non-ionizing non-visible radiation and 5G mobile networking technology will affect not only the skin and eyes but will also have an adverse systemic effect too. They stated that 5G will increase the cell tower densities by an order of magnitude which can prove to be a fatal health disaster.

Conclusion

To conclude with, we can see wide usage of 5G in many countries but their usage is also prohibited in some countries due to health precautions and predictions by scientists in that particular nation.

      Exposure to RF radiation according to FCC guidelines can result in:

•       Carcinogenicity: Tumors, Breast Cancers.

•       Geno-toxicity: DNA damage, DNA repair inhibitions, variation in chromatin structures

•       Mutagenicity, Teratogenicity and Neurodegenerative diseases.

DEVELOPMENT OF 5-G IN FUTURE

We will surely witness further more development of this technology in future.

Advancement will surely take place in the technology to make it better so our health will not suffer badly and no threats would imply over using this technology.

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Quantum Dots (QD) are synthesized by nanoscale crystals which can transmit electrons. When UV Rays or Ultraviolet Rays strike over these semiconductor nanoparticles, they can emit light of various colors which is visible due to variation of the wavelength of light rays. The various colour patterns are due to the variation of the wavelength of light rays.

In quantum dots, properties vary according to the shape and type of semiconductor material.

Russian physicist Alexei Ekimov studied in detail over the topics of nanocrystals of Copper Chloride and Cadmium Selenide in a molten glass matrix and he also observed the fluorescence and color gradients. He is credited as the founder of Quantum Dots discovery which dates back to 1977.

Alexander Efros was the first scientist who theoretically explained the concept and Louis Brus introduced the Colloidal Quantum Dots Discovery.

Detailed Study

Quantum Dots are light emitting sources and are also evolving as better forms of LEDs, also known as QLEDs. The color of light emission depends on the difference of the gap between the Valence Band and the Conduction Band which is categorized under the Band Theory which forms the basis of categorization of material whether it is conductor, insulator, or semiconductor.

These particles are very tiny for that reason we categorise this field in Quantum Mechanics. Whenever quantum dots are illuminated by UV Rays than their electrons can get excited to a higher state of energy. It was shown that electronic wave function in quantum dots resembles the ones in real atoms. The optical properties of spherical metallic quantum dots can be explained by Mie Scattering Theory.

Properties OF Quantum Dots

Quantum dots have properties in between bulk semiconductors and discrete atoms or molecules. Their optoelectronic properties vary because of their size. Larger quantum dots of bigger diameter emit longer wavelengths, like Orange or Red, and those with smaller diameter emits shorter wavelengths of light like Green and Blue.

QLEDs versus LEDs

Quantum dot Light Emitting Diode or QLED is better than other types of LEDs because they are very small so they occupy very little space and the amount of light generated by them is brighter than normal LEDs in general.

Difference between the QLED and OLED

QLEDs are comparatively better than OLEDs because they emit more brightness and consume less energy. OLEDs are emissive which means the pixels emit their own light. QLEDs currently designed are transmissive and they fully depend on the LED backlight.

Problem Solving

The most devastating impacts of LED is that of its high power consumption and utilities can be solved using QLEDs.

Modern Day Application

These quantum dots are majorly used as QLEDs in quantum computing, but its use is limited due to its new discovery and high cost. They are also used in solar cells and forms the basis of laser emission. Solar panel is also based on Quantum Dot Theory. Single Electron Transistor and medical imaging can be accomplished using this technology. Due to its usage in fluids, we also use this in inkjet and laser printers’ ink.

Plasma or Chemical Synthesis

Plasma synthesis has been established as one of the most famous gas-phase approaches for the production of quantum dots, usually, for covalent atoms, for example, Silicon (Si) and Germanium (Ge) quantum dots have been synthesized by using non-thermal plasma. The size, shape, surface and composition of quantum dots can be hindered using this method. Quantum dots generated by plasma are in powdered form. They can also be made using Carbon. Research-based on these methods is explained below:

Colloidal Synthesis

In colloidal synthesis, the product neither precipitates as a bulk solid nor remains dissolved. It involves heating the solution at a very high temperature which is a major factor in determining the optimal conditions for nanocrystal growth. The concentration of monomers is another critical factor that needs to be controlled during nanocrystal growth. The growth process of nanocrystals can occur in two different phases, ‘focusing’ and ‘defocusing’. At high monomer concentrations, the critical size is relatively small, resulting in the growth of nearly all particles. In this regime, smaller particles grow faster than large ones as larger crystals require more atoms to grow resulting in ‘focusing’ of size distribution, resulting in a discrete distribution of particles.

Research based on Colloidal Quantum Dots

Colloidal Quantum Dots are solution synthesized semiconductors in low-cost photovoltaics. Change in solar cells absorption can take place using Tuning of Bandgaps, displaying the quantum size effects.

According to a research based on the Colloidal Quantum Dots by Jiang Tang and Edward H Sargent:   

Recent progress in this field involved the reduction of cost of solar cell composition and more eminent panels are build due to the usage of colloidal quantum dots, in addition to it colloidal quantum dots photovoltaics have contributed 5% increment in the solar power conversion efficiency, achieved by the introduction of a new architecture.

Reaseach based on Carbon Quantum Dots

According to a research based on the Carbon Quantum Dots by Shi Ying Lim, Wei Shen and Zhiqiang Gao:

Fluorescent Carbon Nanoparticles or Carbon Quantum Dots (CQDs) are quality of carbon nanomaterials that have been nascently introduced and have gathered much interest in global market as a potential competitor to conventional semiconductor quantum dots. In addition to their comparable optical properties, they possess desired advantages of low toxicity, environmental friendliness low cost and simple synthetic routes. Since exploration, CQDs have found many applications in the fields of chemical sensing, biosensing, bioimaging, nanomedicine, photocatalysis and electrocatalysis.

Research based on Silicon and Germanium Quantum Dots

The result was formulated by Prof. Guo Guoping, Prof. Li Hai-Ou, team was led by Academician Guo Guoping.

They manufactured high-quality Si MOS quantum dots and achieved a record of spin qubits. Based on this technique, they found both the effect of strength and orientation of the external magnetic field on spin relaxation rates. They summarised when the in-plane external magnetic field is positioned at a certain angle, the spin relaxation ‘hot spot’ could be ‘cooled down’ by two orders of magnitude. This work had a sprawling contribution in twisting the phenomena and solving the practical problems of optimum operating conditions to exploit the spin degrees of freedom in Silicon Quantum Dots.

QLED – A Game Changer in Near Future

QLED has transformed many things to build them more efficiently. From solar cells to normal LEDs quantum dots is tangible everywhere. We hope to witness much more developments in the upcoming days.

Conclusion

To end with, I want to establish a fact that we can see new technology coming up but rarely use them because of its huge expense. However, its sprawling demand and ongoing innovation will surely depreciate its price and we will see a complete change of technology due to its widespread usage, one day.

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