A BOLD Idea: Identity-smart Currency

One example of a ‘BOLD‘ Idea is “Identity-Smart Currency”.

As they describe on their web site, the Canadian Royal Mint is “challenging software developers to create apps for MintChip, the evolution of currency”, and they’re offering stashes of gold bullion as prizes! Carpe Diem for sure.

With one part of BOLD being ‘Linked Data’, as enabled by a protocol like XDI, then a good way to suggest a possible connection between this field and digital currency is in the blog from one key XDI expert, called ‘Gluu’. (See their product profile).

In their article “The Currency of Identifiers” they make the link not just between Digital Currency and Identity Ecosystems but also that they can co-create one another, proposing an idea for a system based on “xdiCoins”, a combination of the identity protocol with the Bitcoin technology.

These would seem like great ideas for Canadian developers to consider when brainstorming ideas for the challenge.

Cloud entrepreneurs: Seize a BOLD future

I accidentally stumbled on the cheesy acronym ‘BOLD’ when I was trying to think of the best way to capture the key ideas about the whole ‘data thing’, as I was thinking the essential points to highlight are that it’s about ‘Big Open Linked Data‘.

As we start to move more into definitions of ‘Cloud 2.0’, we start to look more at this aspect of an increasingly interconnected universe of data, in terms of what we think of as “the Cloud”, as much as we mean the virtualized hosting environments for running software, like Amazon.

The technologies and trends that underpin this environment include:

  • Big Data – As we start to generate data at the nano level of activity, like sensor readings, location tracking signals from vehicles or web click streams, the volume of it will become too big for normal databases to handle, requiring new Big Data technologies.
  • Open Data – Like the City of Toronto, some organizations will publish their data with licences that enable reuse and mash ups, enabling ecosystems of new apps.
  • Linked Data – Implementation of standards like XDI to enable “Linked Data“. This will enable universal updating of personal information, so that you’re not repeatedly updating your postal address each time you move for example.

In the same way the core standards like TCP/IP, DNS and HTML provided building block foundations for an interconnected web of content and simple services, these will do the same a next layer of more sophisticated, smart agent type apps.

For app developers this presents a Blue Ocean of opportunities, and also for hosting providers to operate the underlying infrastructure in the same way they currently run web and DNS servers for customers. For example Sungard recently made the smart move of announcing Hadoop hosting services.

Yes I know, a cheesy acronym but hey when I started in IT Sales I had to try and sell “BLOBS“. Yeah think about that.