DIGITAL AMERICA

Technological Advancements

// Posted by on 06/04/2015 (5:56 PM)

A small consortium of players making billions skimming and scalloping pennies has essentially hijacked the trading markets. These high-frequency traders measure time in microseconds. This is a far cry from the time it took carrier pigeons to trade on the outcome of the Battle of Waterloo. Today, technological advancements have transformed trading to computer algorithms that essentially trade at the speed of light. Looking for trading advantages is essentially nothing new and the consequences of high frequency trading seem to be broadly acknowledged and researched.

Technology has increased the speed at which data is transmitted and the rate at which data is moved across the communications channel is essential in high frequency trading.  It was interesting to learn that there are firms working on reducing latency by shortening cable distance and pivoting the use of microwave signals. It will be interesting to watch and see if and how microwave technology overcomes the issues with atmospheric conditions and how cable overcomes the expensive shark issue.

In today’s society there are many people that feel powerless to influence their own living environment. However, technological advancements have promoted social change as evident in the Arab Spring movements. Through the use of social media, Arab society, especially its youth, were able to unify and effectively revolutionize the shared hope of what was possible across the region. In addition, many attribute the election of our current president to social media. All through history, technological advancement has weakened the balance of the existing social order to allow for change.

The article “High Frequency Trading” asserts that “Governments are finding it harder and harder to censor information, and to hide corruption” which is similar to what the Internet was essentially designed to do. The countercultural values were of decentralization and personalization. The intention was to create a more flat world of a shared conscientiousness, which seems to be what is happening.

Through the development of more powerful compact technology, it has become more and more difficult to hide corruption and is leading to a shift in power to society. I don’t know if it’s just me but after learning about the counterculture and their intentions I have found comfort in the technological advancements.


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Comments:


Rosatelli said...

Hi Jessie,

This is a big shift for you! You are finding comfort in the digital advancements! It is definitely harder to censor information and hide corruption, but I challenge you to think about how that could be counterproductive. I remember our conversation on Monday when Bonnie stated that she simply assumed that we were being spied on by the government. Have we become complacent with how much corruption does exist? Do we just assume that it’s there and therefore we are less outraged when it’s exposed? We know a lot about the financial markets after the crash in 2008, but there is very little outcry to change things. Do we chalk it up to general corruption? Or does this somehow play into what digital culture has become? More information than we can process?

// 06/04/2015 at 8:12 pm

Lois said...

Hi Jessie,

I enjoyed reading your comments. If the counterculture aimed for a flat world with a single consciousness among people, how do we account for the differentiation in our culture? Do you think the counterculture has been successful, why or why not?

I guess I see the counterculture as significantly weakened by the advances in technology. Faster and quicker may not mean better with a higher form of social responsibility but I do think faster and quicker allows for competition and economic growth. What do you think?

// 06/04/2015 at 8:52 pm

Jessie said...

Hi Lois,

In my option the counterculture was looking to make the world more flat to embrace the differences in culture. It is often said that ignorance and fear can breed discrimination but in an increasingly flat world there would be an understanding of other cultures. There would have to be to remain competitive in a global market. I think that the counterculture has been successful in many respects with flattening the world. We can now hold virtual meetings of key players from an entire global supply chain for any project at any time on supersized flat screens. However, I do see this flattening of the world could be problematic, in that it requires us to operate faster and faster just to stay in place, which would make it too fast for some to adjust in any stable way.

// 06/05/2015 at 3:52 pm