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Entrepreneurship Is Not What Your Think — It's 100% About Serving Others – Forbes


Forbes

Entrepreneurship Is Not What Your Think — It's 100% About Serving Others
Forbes
This was back in the 1990s before anyone even knew what the Internet was, and when blogs were called “bulletin boards” and blogging was “journaling. … Entrepreneurship is actually the action of giving to others and serving others, and then extracting

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Social Media Addict LeAnn Rimes Uses Blogging As Therapy – Celebrity Dirty Laundry


Celebrity Dirty Laundry

Social Media Addict LeAnn Rimes Uses Blogging As Therapy
Celebrity Dirty Laundry
Though LeAnn's addicted to social media, she found blogging as a source of therapy. How does that work when someone loves the fame and attention so much? It seems like blogging should be the last thing on LeAnn's mind. But, she swears by it because …

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3 Ways To Quit Your Job And Travel The World Without Going Broke

Have you ever wished you could afford to travel more?

Maybe youve dreamed of spending spring in the south of France or Christmas in London.

Or if youre like me, youve craved learning Spanish in Argentina or trekking Machu Picchu in Peru.

Youve found yourself searching flight prices and Airbnb accommodations and have even come dangerously close to booking.

Well, until you remember your bank account.

Yeah, Ive been there.

But in February, I quit my job and booked a one-way ticket to Portugal.

I spent several weeks wandering Europe with a friend.

I devoured pizza in Naples, partied at the Nice Carnival in France and wandered the picturesque streets of Barcelona until my feet bled.

Most people react to this by saying something like, “Youre so lucky!” or I wish I could do that!

But do you want to know something funny?

The people who say these things can do the exact same thing.

Im not special.

I wasnt born rich, I didnt win the lottery and I dont have any advantages you dont possess.

In fact, I have a mortgage.

I paid for a wedding last year.

I live in one of the most expensive places in the Western hemisphere.

If I can travel whenever I want, you can, too.

You just have to conquer your money, quit that job and book a ticket.

Make a rock-solid plan to quit your job and travel.

You probably cant quit your 9-to-5 tomorrow, right?

Yeah, I couldnt either.

I have a mortgage to pay, and you probably have bills to pay, too.

But what you can do is make a plan so you can figure out when you can make your dreams a reality.

Here are three steps you can taketo quit yourjob to travel the world:

1. Your Income

How much do you earn?

How much do you need for your living expenses and the occasional treat?

Make a current budget.

Plan out how much you could save each month to make this dream a reality. Make a conservative plan and an aggressive plan.

If you were to cut out most of the luxuries you currently pay for, how much closer would your dream of traveling be?


2. Your Travel Budget

Where do you want to go first?

How much money would you need each day, week and month youre on the road?

How long would it take for you to save up with the number you came up with above?


3. Earnings

What skills and abilities do you have that you can offer as a service or product?

How can you earn more money and ideally continue earning that money while youre on the road?

One of the easiest ways to be able to afford traveling as much as you want is to get paid while youre doing it.

Sound far-fetched?

Well, this may have been out of reach a decade ago, but now beingable to make money from anywhere in the world (as long as you have a WiFi connection) is a reality for many Millennials.

My entire career is location-independent, allowing me to not only spend money while Im adventuring, butalso earn it.

You need to create location-independent income streams.

When I travel, I have several systems in place that help me earn an income no matter where I am in the world.

Thats the power of the Internet.

In my case, I am a business and blogging coach, so I help people build online businesses.

I dont need to be at an office to do this; I just need Skype and a WiFi connection.

I also run a blog where I earn passive income through referrals to products that I use and love, even when Im asleep or trekking throughNepal.

Finally, I use one of my marketable skills (content marketing) to offer a service (freelance writing) that I sell to clients.

This allows me to remain completely self-employed and location-independent when I choose to be.

What skills or expertise can you offer or make a product from so you can earn money from anywhere?

If you can’t think of any right away, don’t worry; I’ve got your back.

Click here to register for a free 14-day email course to find your perfect location-independent income stream idea.

We all have marketable skills and ideas.

You just have to dig deep to find them.

If I wanted to know what you prioritize in life, Id take a look at your bank account.

If theres one skill that we as Millennials need to hone, its the skill of carefully setting our priorities and structuring our lives to feed those priorities.

That means if travel is important to you and if you want to be able to live a lifestyle of freedom and adventure you need to prioritize it, and that means financially.

How can you do this?

Well, lets start with no debt.

Debt is a huge waste of money, and it will hold you back from going anywhere, literally and figuratively.

Living a debt-free lifestyle opens doors for you that you didnt even know existed.

Another prioritization must is turning your back on consumerism.

Every dollar you spend on stuff is a dollar taken away from you seeing the world.

That $60 dress could have afforded you four days in many Asian and South American countries.

Stuff isnt important.

You cant take it with you, both when you leave this world and when you leave the country.

If you want to travel whenever you want, you cant have anything holding you back.

That includes debt and consumer goods.

What does your lifestyle say about you? How can you adjust it to reflect what you truly value?

If youre reading this, you probably have the ability to quit your job and travel the world.

You just have to conquer your money, your time and your priorities first.

So, start making a plan.

Start building those income streams.

Start feeding your values.

Before you know it, youll be booking a one-way plane ticket and achieving that goal youve always wanted to achieve.


This article was originally published on Unsettle.org

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Wall Streets Next Frontier Is Hacking Into Emotions of Traders

The trader was in deep trouble. A millennial who had only recently been allowed to set foot on a Wall Street floor, he made bad bets, and in a panic to recoup his losses, hed blown through risk limits, losing $4.9 million in a single afternoon.

Photo illustration: 731; Photographer: Alamy

It wasnt a career-ending day. The trader was taking part in a simulation run by Andrew Lo, an MIT finance professor. The goal: find out if top performers can be identified based on how they respond to market volatility. Lo had been invited into the New York-based global investment bankhe wouldnt say which oneafter giving a talk to its executives. So in 2014, unknown to the outside world, he rigged a conference room with monitors to create a lab where 57 stock and bond traders lent their bodies to science.

Banks have already set up big-data teams to harvest insights from the terabytes of customer information they possess. Now theyre looking inward to see whether they can improve operations and limit losses in their biggest cost center: employees. Companies including JPMorgan Chase and Bank of America have had discussions with tech companies about systems that monitor worker emotions to boost performance and compliance, according to executives at the banks who didnt want to be identified speaking about the matter.

As machines encroach on humans role in the markets, technology offers a way to even the fight. The devices Lo usedwristwatch sensors that measure pulse and perspirationcould warn traders to step away from their desks when their emotions run wild. They could also be used to screen hires to find those whose physiology is best suited to risk-takingwhat interested the bank that allowed the MIT study.

Imagine if all your traders were required to wear wristwatches that monitor their physiology, and you had a dashboard that tells you in real time who is freaking out. Andrew Lo, MIT professor of finance
Photograph: Daniel Acker/Bloomberg

The most promising application, and the one with the most profound privacy issues, would be for keeping tabs on employees, Lo says. Risk managers could use it to spot problems brewing on a specific desk, such as unauthorized trading, before too much damage is done. Imagine if all your traders were required to wear wristwatches that monitor their physiology, and you had a dashboard that tells you in real time who is freaking out, Lo says. The technology exists, as does the motivationone bad trade can cost $100 millionbut youre talking about a significant privacy intrusion.

Emotional surveillance has an undeniably dystopian vibe, like a finance version of George Orwells 1984, but its not science fiction. Banks are already signing up for services that incorporate it into their analysis of behavior. A startup founded by MIT graduates called Humanyze has created a sensor-laden badge that transmits data on speech, activity, and stress patterns.

Microphones and proximity sensors on the gadgets help employers understand what high-performing teams are doing differently from laggards. The Boston-based company is close to announcing a deal with a bank thats moving some employees to new offices, according to Chief Executive Officer Ben Waber. The bank wants to use Humanyze badges to determine seating locations for traders, asset managers, and support staff to improve productivity, he says.

Another startup, Behavox, uses machine-learning programs to scan employee communications and trading records. Emotional analysis of telephone conversations is a part of a workers overall behavioral picture, according to founder Erkin Adylov, a former Goldman Sachs research analyst. When a worker deviates from established patternsshouting at someone hes trading with when previous conversations were calmit could be a sign further scrutiny is warranted. Emotion recognition and mapping in phone calls is increasingly something that banks really want from us, says Adylov, whose company is based in London. All the things you do as a human are driven by emotions.

Emotions are reflexes that developed to drive behavior, scientists say, improving our prospects of seizing opportunity and surviving risk. Theyre accompanied by measurable physiological changes such as increased blood pressure, sweating, and a pounding heart. Their role in investing has been established since at least the time of economist Benjamin Graham, the father of value investing. More recently, John Coates, a University of Cambridge neuroscientist and former derivatives trader, has studied how financial risk takers decisions are influenced by biology. His experiments, chronicled in a 2012 book, The Hour Between Dog and Wolf, show that hormones such as testosterone and cortisol play a part in exacerbating booms and busts.

The volunteers in Los study were given a $3 million risk limit and told to make money in markets including oil, gold, stocks, currencies, and Treasuries. They came from across the banks fixed-income and equity desks and ranged from junior employees to veterans with 15 years of experience. Top traders have a signature response to volatility, says Lo, who plans to publish his findings by next year. Rather than being devoid of feeling, they are emotional athletes. Their bodies swiftly respond to stressful situations and relax when calm returns, leaving them primed for the next challenge. The top performer made $1.1 million in a couple of hours of trading.

Those who fared less well, like the trader who lost almost $5 million, were hounded by their mistakes and remained emotionally charged, as measured by their heart rate and other markers such as cortisol levels, even after the volatility subsided. Los findings suggest theres a sweet spot for emotional engagement: too much, and youre overly aggressive or fearful; too little, and you arent involved enough to care. Veteran traders had more controlled responses, suggesting that training and experience count.

There are other ways to infer emotional states. Researchers led by Kellogg School of Management professor Brian Uzzi pored over 1.2 million instant messages sent by day traders over a two-year period. They found that, as in Los study, having too much or too little emotion made for poor trades. Uzzi, whose study was published this year, says hes working with two hedge funds to design a product based on the research.

As younger traders accustomed to biometric devices like the Fitbit enter the industry, applications designed to boost performance and monitor employees will become commonplace, says Lo, who expects it to be widespread in less than 10 years. The more data we have, the more were able to characterize the emotional state of the individual, he says. Everybody will have to have these kinds of analytics.
 
With Laura J. Keller

The bottom line: Banks are exploring the use of data gleaned from body sensors, e-mail, and phone calls to identify top traders and limit losses.

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6 clever ways to make an extra $600 this month – AOL


AOL

6 clever ways to make an extra $600 this month
AOL
You won't make money immediately, but with a little time and patience, you can build an income-generating blog. Once you stop telling yourself that you can't earn money blogging and start doing the work – you'd be surprised at what you accomplish!

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We'll Be Live-Blogging The Twin Peaks Premiere – Bleeding Cool News (blog)


Bleeding Cool News (blog)

We'll Be Live-Blogging The Twin Peaks Premiere
Bleeding Cool News (blog)
It's been 26 years since Mark Frost and David Lynch's surreal serial drama Twin Peaks last had a new episode on television. That's so long ago that MTV was still playing music videos from time to time. We' only had one President Bush, and anything you …
Twin Peaks season 3 episode 1 live blog: it is happening again…Radio Times

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Never mind the bus pass: punks look back at their wildest days

What happens when you go from bassist to banker and punk rocker to priest?

Ausaf Abbas, 55

Then: bass player, Alien Kulture

Now: investment banker

We very much believed in the philosophy of punk heres a chord, heres a second, heres a third, now go and form a band. Id never touched a bass guitar until our first rehearsal, but that didnt matter. It was all about the energy and the enthusiasm.

We were probably from the more intellectual wing of punk and were very much involved in the Rock Against Racism campaign. Our name came from Margaret Thatcher, whod made an infamous comment about how Britain was in danger of being swamped by an alien culture. We interpreted that to mean that if you werent white, Anglo-Saxon, middle-class, Protestant, maybe you didnt fit in.

The reason we split up was quite classic. The drummer and I were both students at the London School of Economics. We had our finals coming up, but got an offer of a 20-gig tour with another band. Our singer insists it was The Specials, but Im not so sure. However, our Pakistani roots reasserted themselves and we decided wed better concentrate on passing our finals.

I loved what the band did, but I knew I wasnt going to make a living from it. After getting my masters degree, I started working for BP as an economist. I didnt know much about finance it was quite an arcane, closed industry but when Thatcher liberalised and deregulated large parts of the British economy, she set off a revolution in financial services. It seemed an obvious move to make, from oil into finance, so I joined Merrill Lynch, where I spent 21 years.

Ausaf
Ausaf Abbas now. Photograph: Alan Powdrill for the Guardian

The money I earn does allow me to do some good one of my friends worked for Amnesty International and knew I was an investment banker. He called me up and said, Hi. I need you to send me 1,000, otherwise 12 people will die in Colombia tomorrow. I agreed immediately. I stumbled into investment banking by chance, but I love the opportunities it has given me. Ive met prime ministers and finance ministers and CEOs of major corporations. This was unbelievable for an immigrant kid who grew up in Brixton in a single-parent family.

Im sure my 20-year-old self would look at me and shout, Sellout! But I dont feel like a sellout. Im just older and wiser. Im 55 now. Im old, fat and bald. When I tell people I was in a punk band, most just laugh and think Im joking. But Im very proud of what we did. In our own way, we helped Asian kids stand up and be counted for the first time in this country. Why wouldnt you be proud of that?

Lesley Woods, 56

Then: singer/guitarist, Au Pairs

Now: barrister

Lesley
Lesley Woods got into punk in 1978. Photograph: Alan Powdrill for the Guardian

I was a late starter. Punk had been around quite a while when I got into it, in 1978. What was really appealing was sticking two fingers up at rock musicians. People could get up and do their thing without having to be these great, macho lead guitarists. And women could do it on their own terms, without having to conform to some female stereotype of having big boobs and being really pretty. People like Siouxsie Sioux, Poly Styrene and Patti Smith were great role models.

But we were constantly met with a wall of violence and aggression. There were fights; [Slits singer] Ari Up got stabbed. There comes a point where you cant go on any more at that level. After the band folded, my brain was quite scrambled and I needed to get my mind back, so I thought Id do something really difficult and started studying law.

Lesley
Lesley Woods now. Photograph: Alan Powdrill for the Guardian

I was called to the bar when I was 32. I started off doing asylum law, working with refugees, which tallied with my political values. Although it was heartbreaking a lot of the time, when you won a case, you came out and yelped for joy. You knew youd made a difference. I do very little asylum law now, but I still work in immigration. Ive always had a very strong sense of justice, and working in this area means I havent had to compromise my integrity.

People were aware of my past and it probably put a lot of the more straight people off. When I first came to the bar in 1992, women couldnt wear trousers, which gives you an idea of how backward it was.

I still muck about with music, but I wished Id paid more heed to that particular itch about five or 10 years ago. My work is so intense that its hard to fit music in now. Ive been making new recordings and I still do the odd performance. Id love to do some collaborations, though. Its a bit lonely doing it on your own.

Terry Chimes, 59

Then: drummer, The Clash

Now: chiropractor

Terry
Terry Chimes, middle, during his days in The Clash. Photograph: Alan Powdrill for the Guardian

I just wanted to be in a band, and this was the most exciting band I could find. Everyone else in The Clash was angry at the world and the establishment. I wasnt. Thats why I left, actually. I felt like the odd one out.

As a child, I wanted to be a doctor, but I also wanted to be a musician; its kind of hard to be both. The part of me that wanted to be a musician won that particular battle you have to do music when youre young. But by the time Id done it for 15 years [playing with Black Sabbath and Hanoi Rocks as well as The Clash], I was craving working in medicine more and more, so I made the big jump. In 1988, at 32, I stopped music and spent five years studying full-time. My musical peers werent that surprised. The Clashs manager Bernie Rhodes once said, Youre like some young doctor. I can imagine you saying, Here are your pills, madam. I dont know where he got that from, but hed spotted something.

Terry
Terry Chimes now. Photograph: Alan Powdrill for the Guardian

During my time in music, I saw how peoples health was determined by their lifestyle. I had a strong urge to heal people. Ive now seen more than 45,000 patients, so Ive made a lot of people better. If you dont like people, then its the job from hell. I treat a lot of musicians. They say, Id rather come to you. Youre a musician and you understand what I do. Some patients are interested in music and like to have a chat about it, but most just say, Im in agony. Can you please get rid of it?

The experience of challenging and changing the establishment was good for everyone at the time. Whatever you do after that you bring that with you: the sense that things dont have to be the way they are. I have another life now, standing up against massive corporations that want to ruin everyones health and make money out of it, whether with genetically-modified food, sugar-laden rubbish or drugs we dont really need.

People say to me, Dont you miss playing in front of 70,000 people? Well, Ill probably see 70,000 patients before I die. Getting people well and making them happy: I dont think Ill ever want to stop doing that.

The Strange Case Of Dr Terry And Mr Chimes by Terry Chimes is published by John Blake at 9.99.

David OBrien, 54

Then: part of Manchesters punk scene

Now: vicar

David
David OBrien: punk gave me an energy. Photograph: Alan Powdrill for the Guardian

As a teenager, I dropped in and out of jobs in factories and supermarkets without having much direction, but punk gave me an energy. I wasnt an anarchist. I wanted society to stop and think about an alternative idea. Plus, I felt comfortable in Doc Martens boots and bleached jeans.

I was an illegitimate child. My dad was an alcoholic whom I hadnt seen since I was four and my mother was a single parent who had eight kids, although she lost two of them. She brought the six of us up by herself.

Growing up, Christianity was irrelevant to me. I used to drink too much and get in trouble at football matches. The closest I got to worship was standing at the Stretford End on a Saturday at Old Trafford.

I thought church was for nice, middle-aged people like Thora Hird. I remember carol singers coming into the pub one Christmas and, like everyone else, I was drunk and barracking them. One day, when I was on the dole and had just got my giro, me and my mate went to the pub until we got chucked out at 3pm in those days. We were walking through some woods when we saw an occult sign cut out of the ground; the rumour was that a coven was using it for black magic. Id had a bit to drink, so I jumped into the middle to see what happened.

I didnt feel right afterwards. It frightened me and got the cogs turning with the question: what if there is something else out there? So I picked up a copy of the New Testament that had been on the shelf for years, collecting dust, and I felt better after reading it. It still took me three years to get inside an actual church.

I had this nagging thought for the next 10 years: Become a minister. Become a minister. So I enrolled on a one-year foundation course in theology, then completed a degree in applied theology. Five and a half years ago, I came down to Shrewsbury and became a fully-fledged vicar.

David
David OBrien now. Photograph: Alan Powdrill for the Guardian

When you put on a dog collar, people assume youve had no life before. But the passions that got me into punk are still there, and thats what I bring into ministry now. Its about a desire for meaning.

I havent got my vinyl any more, but I still listen to one or two things on YouTube. Its a reminder of where Ive come from.

David OBriens book Northern Soul: Football, Punk, Jesus is published by Onwards and Upwards at 8.99.

Steve Ignorant, 58

Then: lead singer, Crass

Now: lifeboatman

Steve
Steve Ignorant was the lead singer for Crass from 1977 to 1984. Photograph: Alan Powdrill for the Guardian

Punk had a purpose. Every gig would benefit something: a rape crisis centre, a donkey sanctuary, an old peoples home. It was positive. We wanted a nice world to live in. Only, this time, we werent asking we were telling.

From 1977 to 1984, I was the lead vocalist for Crass. We toured the UK, playing gigs wherever and whenever we could. When Crass finished, I continued to perform and record with Conflict and later formed the bands Schwartzeneggar and Stratford Mercenaries.

In 2007, I moved to Norfolk with the intention of living quietly by the coast. I was going to sweep up leaves and all that sort of stuff but it wasnt to be. The year I moved, I got an offer to do two nights at Shepherds Bush Empire. With every gig I do, I like to donate to a cause. I knew the independent lifeboat service in Sea Palling is always desperate for funds, so I thought that was ideal: I could see where the money actually goes. They got about 1,000 and bought new life jackets that went on to save peoples lives.

The crew took me out on the boat, dressed me up in a drysuit, threw me overboard and picked me up, then asked, So, what about joining?

At first, I was very reluctant I worried about the commitment and imagined that I would have to go on parade. The idea of some bloke looking me up and down and telling me off for not shaving properly went totally against my principles. But they were all scruffier than me. Now Im a full-time member.

Steve
Steve Ignorant now. Photograph: Alan Powdrill for the Guardian

Being part of the crew is similar to being in a band. Youre full of adrenaline when youre on stage, but the worst thing that can happen is that you forget the words or the lead guitarist plays a bum note. Its not the same adrenaline when youre suddenly out at sea and pulling someone from the water. It affects different people in different ways. It doesnt hit me at first, but about an hour later, its as if Ive taken amphetamines. I cant shut up about it.

Jordan, 60

Then: punk style icon

Now: veterinary nurse

Jordan
Jordan worked at the forefront of punk. Photograph: Alan Powdrill for the Guardian

People said, You must be so brave, looking like that out in the street. Id often wear a mohair jumper with suspenders and stockings and see-through knickers. It was nothing to do with bravery. Quite the opposite. It was about feeling comfortable and at one with yourself. I always liked dressing my own way. When I came up to London to try to get a job at Vivienne Westwood and Malcolm McLarens shop, Sex, I was already wearing the stuff they were selling I had just cobbled it together myself. But there wasnt a job available straight away, so in the meantime I went to work in Harrods with green makeup on.

I eventually worked right at the forefront of punk with Vivienne and Malcolm. I styled the Sex Pistols messing up their clothes. I appeared on stage with them, including on their first TV appearance on Granadas So It Goes, to lend weight to their performance fashion-wise. I also managed Adam And The Ants during their punk era.

A lot of the major music moguls were extremely sexist. An A&R guy once said to my face, This is not a womans job. You should be cooking and laying on your back. I didnt want to be there any more, so I came home to Seaford.

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How Turkey's Instagram bloggers are cashing in – TRT World


TRT World

How Turkey's Instagram bloggers are cashing in
TRT World
We use social media to bring viewers to our blog. For travel, it's indispensable to exist in Google searches. We have to exist on social media and it has to be just as important as the blog. At the moment, that is how you make the money. But in the

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LeAnn Rimes uses blogging as a form of therapy – TV3.ie


TV3.ie

LeAnn Rimes uses blogging as a form of therapy
TV3.ie
"It's been very, very therapeutic for me to be able to write in a different way than, you know, to my music," she told MindBodyGreen of her blog, going on to explain that she finds blogging to be a different process to songwriting. "When I'm writing

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How blockchain can create the worlds biggest supercomputer

As our desktop computers, laptops, mobile devices, etc. stand idly by for a huge portion of the day, the need for computing resources is growing at a fast pace. Large IoT ecosystems, machine learning and deep learning algorithms and other sophisticated solutions being deployed in every domain and industry are raising the demand for stronger cloud servers and more bandwidth to address the minute needs of enterprises and businesses.

So how can we make a more economic and efficient use of all the computing power thats going to waste? Blockchain, the distributed ledger thats gaining traction across various domains, might have the answer to the dilemma by providing a platform that enables participants to lend and borrow computing resources and make money in the process.

The rising challenges of computing

There is a growing demand for computing power from industries and scientific communities to run large applications and process huge volumes of data, says Gilles Fedak, co-founder of iEx.ec, a distributed cloud computing platform.

Fedak names several domains, such as product simulation, deep learning and 3D rendering, where demand for expensive computing resources and High-Performance Computing (HPC) is rising.

The biggest challenge for supercomputing is the demand to compress time, says Jerry Cuomo, vice president of Blockchain for Business at IBM. Business processes must now be completed at a significantly faster pace than before. The result is that the demand for computing power is increasing exponentially.

David Snsteb, founder of IOTA, a distributed ledger for IoT, also underlines the need to achieve real-time computation and overcome the lag caused by current cloud-based models. The biggest problem for computation overall is that the devices generating data are not located close-by to the data centers that perform the analytics, he says.

Courtesy of Getty Images.

How distributed computing solves the problem

Compute resource sharing platforms such as SETI@home have existed for years. But they still depend on central brokers to distribute and manage tasks, which can make things complicated.

One of the fields where centralized and cloud-based computing falls short is the Internet of Things, Snsteb says. As IoT grows, the need for distributed computing becomes an absolute necessity, he says. Latency in round-trips, network congestion, signal collisions and geographical distances are some of the challenges faced when processing data produced at edge devices in the cloud. Devices need to be able to trade computational resources with each other in real time so that the computational load can be distributed, he says.

Some of the emerging lines of software will not be supported by centralized architectures at all, iEx.ecs Fedak says, such as decentralized applications (DApps), which, among others, will power fog computing, distributed AI and parallel stream processing. This class of application is extremely challenging because theyre both data and compute-intensive, and they dont cope well with centralized infrastructure, Fedak says.

Incentivizing resource sharing is also a problem with centralized models.

If you look at the last 10-20 years of progress in virtualization, its obvious that setting up any kind of environment in a data center or on an individual computer has become much easier, says Julian Zawistowski ,co-founder and CEO of distributed computing platform Golem. But when it comes to actually renting the hardware, it still tends to be painful: comparing the offerings of different providers is complicated, and it takes quite a bit of time and expertise to figure out the best solution for a given task.

The issue with getting payment involved is that you need to check whether the participants are actually performing the work and also integrate payment so that the provider of the compute capacity knows that running the computations is going to be worth its time, says Preston Byrne, COO at Monax. This is easy when youre dealing with trusted entities such as the Amazon Web Services HPC platform, but not so when youre dealing with nodes that vary in hardware and power.

How distributed ledgers fill the gap

A distributed network of computers managed by blockchain and smart contracts can create a shared economy where anyone with a computer can borrow idle computing power and make a side income.

The peer-to-peer nature of the blockchain and distributed ledgers will also help move computation closer to where the data is being generated, and avoid bottleneck round-trips to cloud servers.

Byrne suggests that while not being a computation platform itself, the blockchain can potentially create a marketplace application that attacks the specific problem of linking buyers and sellers of compute time and allowing them to pay themselves in cryptocurrency without needing an intermediary like AWS.

IOTAs Snsteb further elaborates on Byrnes point and says that distributed ledgers shine in renting out computation in the fog, i.e. at the edge of the network. IOTA has developed a distributed ledger based on Tangle, a scalable design that gets rid of the blocks and introduces a Directed Acyclic Graph (DAG) that reduces transaction times and removes fees, which according to Snsteb creates the backbone for an outsourced distributed on-demand computational trade model for M2M environments.

Golem, which recently raised $8.6 million in Initial Coin Offering (ICO), has created a peer-to-peer computation sharing platform on the Ethereum blockchain, which it dubs Airbnb for computers. Golem enables application owners and individual users to rent the computing resources of other users and pay for it directly in cryptocurrency.

According to Eddy Azar, Growth Hacker at Golem, the platform has the potential to reduce costs and increase speed in domains such as scientific research, machine learning and graphics rendering, while making it possible for anyone with an average or better computer to share resources and make a side income.

After submitting tasks to the Golem network, requestors are matched with providers based on prices, reputations and machine performance registered on the ledger. Resources are then sent to the provider for processing and are sent back after the task is completed. The provider is paid if the results pass verification tests. A users reputation is built-up based on their success in completing tasks and making payments.

Developers can use Golems open-source code and task API to create program that uses the network and put it on Golems application registry, which Azar likens to an app store, and make it available for others to use and, if the developer so chooses, pay for.

iEx.ec is another distributed computing platform, which uses the Ethereum blockchain to create a market network for applications, data, and computing resources, including HPC ones, says Julien Branger, the companys Community Outreach Officer. It means that everyone will be able to offer their computing resources through smart contract deployed on the blockchain.

The platform uses Desktop Grid or Volunteer Computing to collect underutilized computing resources to execute very large parallel applications at a fraction of the cost of a traditional supercomputer. This is the model used in distributed computing platforms like SETI@Home, Folding@home and disributed.net.

The iEx.ec team hopes the combination will provide inexpensive, scalable and on-demand access CPU, GPU, data sets, storage and other resources.

Blockchain makes a big difference, iEx.ecs Fedak believes. Because the blockchain allows for a decentralized infrastructure, it can bring the data closer to their producers and consumers, he says, whereas with centralized cloud computing, data-centers tend to be located in remote areas.
The demand for computation will continue to grow as we move forward. Whether cloud servers will scale up to meet the requirements in resources, costs and speed is yet to be seen. In the meantime, the blockchain proposes an alternative that can open up new possibilities and succeed where previous technologies have failed.

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