Dubai is well on course to becoming the smartest city in the world with 100 smart initiatives and 1,000 smart services to be completed before the end of 2017, said the founder of Crystal Lagoons, the water innovation company.
“This escalating push to improve how Dubai can function through real-time monitoring, analysis and advancement of city decision-making is set to optimise efficiency, environmental sustainability and citizen engagement – many of the core objectives Crystal Lagoons’ business model is based on,” added Fernando Fischmann, international award-winning scientist, businessman, biochemist and real estate developer.
Fischmann has outlined the technology trends he expects to have the greatest impact on ME business in 2018.
In terms of innovation and technology, Smart Cities have taken centre stage in recent years, particularly in Dubai. Typically, a Smart City is defined as an urban area using various types of electronic data collection sensors to supply information used to manage assets and resources efficiently. In so many ways that clearly puts Dubai into that smart bracket, having launched various initiatives by integrating technologies such as Information Communications Technologies (ICT) and the Internet of Things (IoT) in both hard and soft infrastructures.
And disruptive technology is not only confined to municipal operations, before designs can even get off the drawing board, financial investment is required. This year Blockchain, the technology behind the digital currency Bitcoin, has commanded numerous headlines and piqued the interest of investors.
“Blockchain is an undeniably ingenious invention. Information held on a blockchain exists as a shared - and continually reconciled - database. The database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralised version of this information exists for a hacker to corrupt, which is a huge factor in the current climate of increased internet hacking activity. But at the same time, it is hosted by millions of computers simultaneously and its data is accessible to anyone on the internet,” said Fischmann.
However, Bitcoin itself has come under criticism from a number of leading and influential figures in the financial world including, Jamie Dimon, the CEO of JP Morgan, Andrew Bailey, the head of British government’s Financial Conduct Authority, and the infamous Wolf of Wall Street, Jordan Belfort.
Like the internet of the late 1980s and early 1990s, these are early days for Blockchain, but there is enough hype around for Goldman Sachs to say the technology ‘has the potential to redefine transactions’ and can change ‘everything’. Bitcoin aside the technology behind the development is not in doubt.
Another development in recent years is that of Big Data. Big Data describes data sets so large and complex they are impractical to manage with traditional software tools. But it can also be a vital tool for analysis.
New technologies make it possible to realise value from Big Data. For example, retailers can track user web clicks to identify behavioural trends that improve campaigns, pricing and stock issues; and utilities can capture household energy usage levels to predict outages and to incent more efficient energy consumption.
“It is crucial there is a place for everything and everything is in its correct place. And that’s where Big Data comes in. Managing data effectively is imperative for the success of any business or organisation, and is something we’re fully aware of at Crystal Lagoons,” added Fischmann.
Crystal Lagoons has always looked toward innovation and technology for advanced solutions to design, installation and sustainable maintenance. The company focuses on enhancing people’s lives by resolving some of the world’s biggest issues, such as water scarcity, energy, pollution and lack of open public spaces.
The lagoons are low maintenance and have the advantage of being sympathetic to the local environment, using up to 100 times less chemicals than a traditional filtration system and 98% less energy required by conventional water treatment systems, creating a viable, sustainable solution, despite challenges such as water and energy supply.
The lagoons also use any kind of water including brackish from underground aquifers, eliminating the need to consume valuable fresh water resources. Construction costs are also minimal, creating a viable and economic option for development.
“Crystal Lagoons is the only company in the world able to provide this technology and are patented in 190 countries around the world. Through our technology we are transforming the real estate market as developers can charge a premium on properties overlooking or with access to our projects.
“We recently outlined the company’s expansion plans into new markets regionally and globally with a series of lagoons open to the public. The new business model will consist of selling tickets to the public on a ‘pay per use’ basis with Crystal Lagoons receiving revenues as a percentage of ticket sales. The idyllic concept of Public Access Lagoons, offering perfect beaches and accompanying scenery, will make them they must have 21st Century accompaniment to urban life, creating infinite business opportunities for Crystal Lagoons,” said Fischmann.
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