2-21-18_We_6.30pm_BackTests05.3 Databases_Blockchain (305)OnTrial.co=(305)668-7245 A Rush's live broadcast ICO Blockchain Technology Crypto Currency Smart Contract Banking Online Token WWW
2-21-18_We_6.30p_BackTests05.31 Databases_Blockchain (305)OnTrial.co=(305)668-7245 A Rush's live broadcast ICO Blockchain Technology Crypto Currency Smart Contract Banking Online Token WWW
2-21-18_WE_6.30p_BackTests05.3 Databases_ICOs (305)OnTrial.co=(305)668-7245 A Rush's live broadcast
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Today is Wednesday, February 21, 2018. We’re going to be talking about data, database management systems, data warehouse, data marts, Big Data and its analytics, and we’ll talk about the differences between database management systems and blockchain. We’ll have three speakers coming in today. One gentleman is coming all the way from New York. He’s trying to use blockchain for banking. We have another company that is doing blockchain development work and they’re based here in Coral Gables. They’re called 8Base, a lot of their development team is in Russia. They are based here and they have founding from angel investors and people doing healthcare around here. And we have someone else trying to set up a website and infrastructure to rate different ICO’s and currencies and they are based in Russia. It’s interesting that this is kind of like the new technology. I wanted to get us into the database. Blockchain is also data so what is the difference between block chain and this database. Any questions before I begin? Next week, I’m going to devote the majority of the time to the exam. It’s going to be two parts, multiple choice like the quizzes and the second part will be open ended. I’ll go over possible questions for it. Remember the articles I had you to read about block chain? And another one will be about the automated trading systems we did. I’d like you to review those materials for next week. I’m going to give another quiz today. Those you have questions for, bring it up to me. I’m having some issues with broadcasting. The link is in steemit.com/@thepsychco. Later on, when we are thinking about your project, what I want you to think about is that one of your projects can be on block chain. You can review what’s available there and you can propose like some of these other companies, think about what you can do in the future. You can take some of the automated trading systems and expand on that. I showed you how to import additional strategies, you can import. You may even divide up your group if there’ two ideas. Think about what you’d like to pursue and to learn more about. You can do demonstrations on what doesn’t work too. We can be unbiased, nobody’s paying us.
You can see already that I put in the links and you can already stream. I’ll put in additional links later. Let me go to courses and go to our regular BTE KY section. I’m going to go to assignments and you should have chapter 1, TG1, chapter 4 security, TG2a, the software, Chapter 5 and I’m going to add one more, which is the cloud. Next week, I’m going to edit the test options. We’ve talked about cloud but it’s important that we discuss it further. I’m going to make this link available. I’ll give two rather than one attempts and I’m going to submit. You have to check if it’s there for you. We’re working as a team. We’ll end a bit earlier and I’ll work with a group on some issues. I’ll give credit that you’ve tried it, document it and we’ll resolve those issues. We’re never going to be assured that it’s going to work and we can work with others as well. Let me go to the weblinks. You should have already looked at the difference between bitcoin and blockchain. What is blockchain the most disruptive tech in decades then you have Ninja Trading imports. Then there’s the last one, which is blockchain technology, a very special kind of distributed database. I also want to go to the book and you have the PowerPoints for this as well. This is about data and we’ll talk about data. Open up that link that I talked about before I go on. Remind me to go over this article as well. Before we go over this article, which says block chain technology- a very special kind of distributed Database, we have to understand what a database is. Before we even get into database, let’s think about data. we know that we are inundated with data, we do not have a lack of data. There’s data everywhere. When we did the trading systems, we had data. you can get it from a number of different data sources, the problem is to analyze that data to make better business decisions. All I want to do in business is increase my sales and decrease my costs. Let’s think about an example we all know about. We know about a university and what data do you know about that? You know your data. where in the university do they have your data? Admissions is one, Business school, Health center, the Registrar, Housing, my advisor. What information does admissions have? I have address, I have city, Zip code, date of birth, social security, student ID, email, they probably have some of my transcripts and my GPA from the past, and my courses. The Business school has what department I’m in, gender, race, my current GPA and advisor. The Health center would have my vaccines, the registrar would have my GPA and degree. Housing would have my dorm, diet and room. Does anyone notice any redundancy? Let’s say you live on campus and you want to live off campus and you want more freedom. If you move and change addresses, where does the address have to change? All of them. What is the problem with you submitting your address? So, this is a regular data file system where it has a lot of data redundancy.
Let’s say there’s a sports team and somebody comes to me and says I want to make a query, which is asking a question, and find out if a scholarship is available for a Hispanic on a sports team that has a GPA greater than 3.5, and is a business school major. I may not even know where to go because it’s in a number of different databases. So, what a database management system is a way to manage my data to be able to answer what we call queries, or we can query or ask questions. I can ask those questions where I put the data in a centralized place called a database. And then I can have different departments query that database. So, what’s the advantage of this? If I need an address change, how many times would you have to update that if all my data is centralized? One time. The advantage is I have my data in one spot and when I make changes to that data, it becomes efficient and I don’t have to worry about the other places. What’s a disadvantage? It’s susceptible to hacking. Did we talk about Equifax here? Type in Equifax Hack. Equifax is a credit rating agency, they hold all the information that credit card companies have. Somebody went in and grabbed all that data. how did it happen? By what they call an exploit. You will need to know this for the exam. There was a threat from the outside, there was an exploit from some kind of vulnerability. Vulnerability is that there was an OS patch that needed to be installed. What does OS stand for? Operating system. Operating systems find out they’re vulnerable and they send out a patch or some software correction that we can harden the infrastructure. It’s like hey I got you a lock for this open window. They had consultants that said on this server, you are vulnerable to attacks but you can solve that by installing this infrastructure. They were told this in January. Did do it right? No, if they had 145 million people wouldn’t be vulnerable.
This exploit was not done by this OS patch. What ended up happening in this OS patch was this was a publicly traded company. The patch was announced in January, in June, the board sold their stock. In august, the announced to the public that they were hacked. Do you think there was a coincidence that they sold their stock? No. they didn’t tell the consumer and announced a couple months later that they were hacked. They repaired it too late. This is the idea when we talk about a centralized database system. What you need is what they called data governance. You can put that in your notes. It’s basically assignment who is responsible for the data. who owns this data? you need to follow up. Even with NinjaTrader, we need to follow up. We saw it was installed but we have to make sure it works. You have to make sure procedures are done not only to be responsible but to make sure data is done correctly. This is what they call master database management. What the database approach is that it started with the single files I showed you. Admissions has a file, registrar has a file. that’s a data file. A data file is a connection of logically related records. And what’s a record? In a file, basically what you have is each row is equal to a record. So, if I have my class file, each student is going to be a record in my file. And what was traditionally in the study database management systems, what we found out about the characteristics of data files by themselves is what’s called data redundancy. I saw that in the way that your address may have been listed 30 times across the university. Data inconsistency we talked about that too, if you change it, it may not be the same. If I want to find certain people for scholarships, I may have isolated information that I can’t get to and I can’t query. What we have here is database management systems and we call it DBMS, database management systems. It allows us to maximize these issues. And when we talked about it, we talked about if I ask you what is database management system what is its weakness? Its security. We know we have to have backups and we know we have to harden it or secure it to make sure that I can rely on data integrity. What is data integrity? We’re dealing with stocks and we ask can we rely on this closing price? If I can’t rely on it, it’s useless to me. I want to make sure I have data integrity. And then they talk about data hierarchy, it means basically from top to bottom. The smallest amount is what we call a bit. If I look at Luca and I want to find a byte, I would have 4 bytes, the entire thing would be a record. I have student files, faculty, database management for the entire place.
Then they talk about relational database models. Does everyone know a spreadsheet? A relational database model is like a spreadsheet. A row is called a record and a column is called a field. Records are rows and fields are columns. What you’ll be able to do in tables is you’re going to be looking for each table and find different ones to relate to. You can have relationships between tables and you can have keys for instances to find information. For instance, the primary key is something that is unique to a student. Give me an example for your student file, what is going to be the primary key. They’re making something unique and secure. In this case, that primary key can be unique. The secondary key identifies information but does not have to identify complete accuracy. Usually what we have is called structure data, meaning that my data is well defined by my fields. I can find that information easily and I can decipher it. The common programing language for structure data is called SQL. It stands for Structured Query language. It’s a language that’s quite old and basically can for instance ask to give all those students with a GPA above a 3.5 and are finance majors, or entrepreneurship majors. Where do you think they use database management systems online? The most popular online is called MySQL. Open source means what? Open source means what besides free? Anyone can access it, they can access the code.
It means if you want to modify it, you can modify it. So where do they use database management systems. Does anybody shop online? Do you think they have a database management system? What do they need to do? they have your name, address, credit card information, then they have a history and based on that history, they give recommendations. Based on their database management systems, they can make recommendations. A lot of the time, they call it the back-end. You can do queries on it yourself but they really want to get queries on you. Think about google. Think about all those places, Facebook, Twitter, how much does it cost you? Nothing. They’re making money based on your data and how you’re experiencing. One more thing I want to stress to you is we have something called unstructured data. remember structure is like first name, last name, GPA, books you bought, ISBN number. Unstructured is basically something that is not so easy to grab hold of. What do we have a lot of online? Videos. It’s a bit harder, there’s facial recognition. If I want to know your age, what you like, how old you are, that’s unstructured. Video is unstructured. Is anybody doing data analytics as a major? In big data, it’s basically forecasting just like we were doing in terms of automated trading system. Marketing now is all big data. it’s basically tracking and trying to figure out what’s going to be the next trend. It’s to show you what you want. Big data includes structured and unstructured data and doesn’t fit exactly those relational databases. With relational, a lot of times we have what’s it called Data mining. AI is also a big area. They’re trying to do personalized medicine like the genome project in medicine. I’m able to use data mining to find patterns. In this data mining, I can do supervised versus unsupervised. Supervised means that I tell the computer what hypothesis I have and which attribute to look at. Anybody ever get a call from a credit card company saying they think there is fraud in your account? They’re using this data mining. Sometimes we go to gas station and there’s unusually small amounts. If you want money and you’re a star-up, one of the big things is using AI intelligence where you can have the computer do things that a human being would find it difficult to do. But you need humans to make the rules. When they say big data is dirty, it means it’s not complete.
There’s something called Hadoop, you’ll hear more about it tonight. It’s usually open source and a number of people can improve it. Think about excel and super steroids to be able to process my data. those traditional relational databases won’t do the trick so they’re using these things called Hadoop. It’s basically using data and how do I get answers to my problem to be able to make decisions. That’s going to be prevalent anywhere we use technology. Let’s look at this link on blockchain technology then. If I want to do a distribute database, I’m going to take my data and put it in Europe, California, Asia. Do you think Google has its data all in one place? Data warehouse is a place where I don’t have my current transactional data, but it’s a place where I store my non-operational data to basically do studies on. To do data mining studies, AI studies. It’s not going to interfere with my day to day operations. There’s something called NoSQL that means Not only structured. I’d like you to read through all this and next week, come back to me and ask me questions about this article. Here they start talking about Etherium, which is another cryptocurrency and they talk about distributed ledgers. This right here is an excellent chart. This link is on web links at the very end. You can see here it’s a centralized database management systems, it has SQL, MySQL, Oracle. In distributed database management, they’re not all attached to a CPU but they’re spread across a network. You can think of blockchain as another place where I have my idea, that’s where I have my distributed ledger. The difference here is its going to be de-centralized.
Two speakers:
Hi guys my name is Andrea and you see, I'm VP of a local company called 8Base, we just started about less than a year ago so we're still developing the system. Basically, the
problem we're trying to solve is how do you enable non-technical people to build
enterprise applications. Let's say you go to likea DMV or you go to like whatever
business and there's a lady and then she has a computer found a card and she
typed something in it so most likely she's using you know an enterprise application. the Basically the application that allows businesses to automate the staff data store the customers
interact with customers. So, right now building enterprise software is very costly you
you basically have to hire team of developers and they are very expensive. If they are expensive, it doesn't mean they're good. It’s like basically I started my business I had previously had a company that had enterprise software development business where I developed
a bunch of software for casino industry here in the US or like Sears like MGM Grand and others.
They run the software that we develop and basically this whole industry looks kind
of like this there's like a big fancy company here in the US because of the contract and some big fancy company in Russia. They sent it to some smaller company and then small company sells to some guy who is a student.
What we're building is we're building a system that allows people to kind of go
in register and start building enterprise application because enterprise application essentially is
a bunch of standard features like user management login you know all the only features
that we all know very well. It should be able to send emails, it should be able to let you even register etcetera and then on top of it, there's something custom to the business like
let's say if it's a logistics like it's every significant X they need to track shipments; they need to track packages. It's like a casino. They track their slot machines and so we basically, kind of abstract in a way to implement and all the functionality that has to do with standard things like login etcetera. And we let users use kind of drag and drop tools to set up the custom logic that's specific to their business. So, an example is a car rental company. Are you looking at a large enterprise, a medium enterprise, a small business we have we have our strategy that kind of starts from the smaller and then goals goes off so give me an example? The smaller give me a boost the most common example right now such software is CRM. Customer relationship management system Salesforce is the top vendor and it allows you to manage all your customers. If you like a sales team, that's where you put all your leads, your customers etc. But there's tons of other system like custom for example. The systems that I build allows basically
Airlines submit monthly reports a menu-like message. They have you know all
kinds of data and then the system automatically calculates how much money they have. I mean very specific application and before the system they have to basically manually email each other this data.
It's all very manual and error prone. So, you want to have a tool then to be able to do the main problem right now. I'm going to say to always realize since you're just learning this stuff that most all the stuff can be done centrally. It is not central essential only for certain things it's
essential if you want to make the trustless relationships potential. if you want to get away from voting from influence by governments things like that and there's other factors too. But
keep in mind that the ultimate thing that will win out in this industry are those chains that are not only well financed good team members but the ones that take a hybrid approach between centralization and decentralization.
Last Speaker:
My name is Demitri. I specialize in ICO. Type in wordcoin.io. There’s 3 or 5 teams that talk about their project. Most of them don’t have a project, they have some business and they want to own a project. My team made the first ICO, word coin. It’s a translation platform. Let’s go to word.expert. We received only 1 million dollars. If we raise this much money, we’re going to build this. If we build more, we’re going to make more. There’s multiple types. It’s a place for freelancers to do translations. They’re going to be paid with word coin. You’ll have your own token, which is the main idea. The interesting thing is on dev.cryptogodfather.com. it’s a lot in one platform. Firstly, it’s good for ICO because you can receive a listing for free. Several competitors have access to their money. You can advertise and there is a working ICO constructor on this platform. You can also go inside and see how it looks inside. I basically help people to make their own ICO. I’ve done this only for 2 months and it’s not ready at all. I give services for the whole community. I won’t charge anything yet. I will pay people with token, it’s a type of mining. If you want to do something for this website, you can translate these news in several languages. You will get a token for helping with the project. You’re given a form of what your ICO name is and I help them construct. For all your questions, you get a specification for development. There’s a lot of positions that you need to fill for your ICO website. You have the website, demand and you get tokens. There are difficult things like legal opinion. There is a rating inside, it’s a compression rating. It counts by itself programmatically and you will get a bit based ICO project. There is also real-life expertise. There are two types of experts, one is legal. Everything will work with tokens.