What is the best definition of technology? Theories of technology often attempt to predict the future of technology based on the high technology and science of the time. Scientists and engineers usually prefer to define technology as applied science , rather than as the things that people make and use.
A natural extension of existing infrastructure controlled by incumbents, IoT applications will run the gamut from predictive maintenance of mechanical parts to data analytics, and mass-scale automated systems management. Practitioners in educational technology seek new and effective ways of organizing the teaching and learning process through the best possible application of technological developments.
With the aid of Blockchain technology, all the copyrights can be stored in the form of smart contracts which will enable automation in businesses along with the increase in online sale thus, eliminating the redistribution risk. Frankel assumes that the, Technological change is not a mere improvement in the technical know-how.
74 This definition’s emphasis on creativity avoids unbounded definitions that may mistakenly include cooking “technologies,” but it also highlights the prominent role of humans and therefore their responsibilities for the use of complex technological systems.
Though Bitcoins and cryptocurrencies are the first popular application of Blockchain technology, they are not the only ones. Creating cryptocurrencies is one of the applications of Blockchain technology and other than Bitcoin, there are numerous applications that are being developed on the basis of the blockchain technology.