Discuss about the Information Technology for Disruptive Technology and Securities Regulation.
A technology is generally termed as disruptive when it completely replaces another similar technology by consuming off its entire market. Generally, this type of technology comes with a wide range of benefits that is also deemed as a massive upgrade to the existing similar technology (Boccardi et al. 2014). Disruptive technologies come in all forms and types, ranging from a simple Wikipedia page to Hyperloop technology. However, a new technology cannot be termed as disruptive if there is not massive upgrade as well as cost effective than the existing technology.
In this report, one such disruptive technology has been considered and discussed. The chosen disruptive technology is Hyperloop One that will set to take over the transportation system of the world within the next decade.
Hyperloop One is a proposed new technology masterminded by Elon Musk, CEO of Tesla Inc. and SpaceX. This technology has been chosen to solve the problem of transportation costs as well as travel times for long distance travels. Currently, the fastest mode of transport in the entire world is air transport. However, air transport has several issues that include very high costs and very high risks (Ann, Griffith and Luca 2018). On the other hand, the fastest land transports are railways. Although railways have developed significantly with time and bullet trains have been introduced as a very fast mode of travel, very few countries have been able to implement the bullet trains / maglev technology due to extremely high costs of implementation, operational costs and low cost benefit. According to Musk, the implementation of Hyperloop will incur high costs as well but will have very low operational and maintenance costs resulting in cheap prices for travelling in a Hyperloop. Furthermore, hyperloops will be able to transfer passengers and cargo at airline speeds (estimated at around 650 kph) resulting in low transportation time between two places.
The hyperloop technology has already taken the world by storm and has been widely accepted by various countries. In spite of being a untested mode of transport, various countries have started undertaking feasibility tests and preparing routes for implementing the hyperloop. Once the hyperloop technology becomes within the financial reach of many countries and widely used, it will start replacing the railways system gradually (Majchrzak et al. 2018). It will also completely revolutionize transportation system as a whole as the overall transportation time between two places will be reduced to minutes. Some advanced plans also include building hyperloop route under the sea, for instance, Helsinki to Stockholm, proposed route below the Baltic Sea, that will not only reduce the direct travelable distance between the two cities but will also reduce the travel time that otherwise is quite huge.
Since the beginning of time, man has always prioritized transportation in order to move from one place to another within a short period of time. Initially, the only mode of transport was by walking. With time, man started using various animals like horses and donkeys for travelling or transferring of goods. Later, wheels were invented and initial car like prototype was developed that was also much slower in comparison modern day cars (Abdelrahman, Sayeed and Youssef 2017). After the development of road transport and later sea transport, railways came into existence that was also later succeeded by air transport. Railways have also evolved from being pulled by slow stream trains to electric locomotives pulled by high speed electric engines. On the other hand, for transcontinental transportation, air transport was developed and large aeroplanes carry people and cargo from one place to another over a massive distance as well as the oceans separating the two places. However, while the railway services consume huge amount of transportation time for long distance travels, air transport consumes very high costs of transportation, operations and maintenance (Pfoser et al. 2018). Elon Musk proposed to reduce both and provide people with a reliable, cheap and fast mode of travel between two places using the hyperloop technology. The technology is expected to take over within the year 2020 and it will be furthermore spread over various countries of the world.
The technical features of a hyperloop train are discussed below.
Transport Type: Unlike regular railways, hyperloops will not run on steel railway tracks or magnetic levitation tracks. The hyperloop vehicles will run through special vacuum tubes built across the entire rout and back i.e. the vehicles will run in loops instead of reversing after reaching destination (Majchrzak et al. 2018). The tubes will have vacuum inside that will minimize air friction inside allowing the vehicle to move at extremely high speeds. Elon Musk expects to reach a staggering 1200 kph speed by using these hyperloops.
Power Requirements: The power consumption in hyperloops will be very low. Not only it will not require constant supply of fuel or electricity throughout the course of its journey but also it will be extremely power-saving as the hyperloop will run using charged batteries. One time charging will enable the vehicle to run for very long distances.
Route: Similar to railways, the hyperloop transport will require specific route to run from one place to another. Moreover, similar to metro railways and tubes, the hyperloop route can also being built under the ground that will enable the route to be built under water bodies (Ann, Griffith and Luca 2018). One of the best examples for this is the proposed route between Helsinki and Stockholm that will run under the Baltic Sea.
Speed: The most important feature of the hyperloop technology is the speed of transportation. While initial estimations reported a possible speed of 650 to 700 kph, the technical adversaries of the company stated that the speed can easily reach 1200 kph or even more and will exceed the speed of air transport in the process.
The hyperloop technology will have a massive impact on the society, economy and other aspects of a country. These are discussed as follows.
Economy: This technology will greatly benefit the economy of the country by not only providing extremely fast mode of transport but also transferring cargo from one place to another (Zheng et al. 2017). This process will greatly benefit mining industry as well as other businesses that deal with transfer of heavy cargo.
Society: The technology will also have significant impact on the society. While high speed trains are increasing moving out of reach of common people in terms of travel costs, the hyperloop will greatly reduce the costs thus benefitting all stages of the society in terms of transport system.
However, the hyperloop also has certain risks that may hamper its overall impact. For instance, a slight damage in a tube or loss of power in between a route may result in catastrophic consequences (Schwamm 2014). Hence, it is important to thoroughly test the technology and prepare preventive measures of the problems in order to make it a truly useful disruptive technology.
Conclusion
Finally, it can be concluded by saying that Hyperloop is truly a disruptive technology in the field of transportation. With the introduction of this technology, people will be encouraged to travel long distances without much expenses as well as time. As hyperloop will spread over the world, it will start replacing the needs for rail transport and even road transport to a certain extent. However, the initial implementation costs of the technology including costs for building the route and hyperloop tubes will be very high and hence, the technology may be initially not feasible for many countries. Regardless of this, many countries have shown interest in the implementation of hyperloop technology in spite of it not being properly tested and proven.
References
Abdelrahman, A.S., Sayeed, J. and Youssef, M.Z., 2017. Hyperloop Transportation System: Analysis, Design, Control, and Implementation. IEEE Transactions on Industrial Electronics.
Ann, M., Griffith, T.L. and Luca, G., 2018. Hyperloop Transportation Technologies, Inc.: A Startup Using the Gig Economy for Its Core Business. In Organization Science Winter Conference 2018 (pp. 1-5).
Boccardi, F., Heath, R.W., Lozano, A., Marzetta, T.L. and Popovski, P., 2014. Five disruptive technology directions for 5G. IEEE Communications Magazine, 52(2), pp.74-80.
Brummer, C., 2015. Disruptive technology and securities regulation. Fordham L. Rev., 84, p.977.
Majchrzak, A., Griffith, T.L., Reetz, D.K. and Alexy, O., 2018. CATALYST ORGANIZATIONS AS A NEW ORGANIZATION DESIGN FOR INNOVATION: THE CASE OF HYPERLOOP TRANSPORTATION TECHNOLOGIES. Academy of Management Discoveries, (ja).
Pfoser, S., Berger, T., Hauger, G., Berkowitsch, C., Schodl, R., Eitler, S., Markvica, K., Hu, B., Zajicek, J. and Prandtstetter, M., 2018, February. Integrating High-Performance Transport Modes into Synchromodal Transport Networks. In International Conference on Dynamics in Logistics (pp. 109-115). Springer, Cham.
Schwamm, L.H., 2014. Telehealth: seven strategies to successfully implement disruptive technology and transform health care. Health Affairs, 33(2), pp.200-206.
Selke, S. ed., 2016. Lifelogging: Digital self-tracking and Lifelogging-between disruptive technology and cultural transformation. Springer.
Zheng, L., Hui, L., Ting, X. and Cao, R., 2017, July. New Strategic Thinking Required in Promoting Innovation of Disruptive Technology. In Management of Engineering and Technology (PICMET), 2017 Portland International Conference on (pp. 1-5). IEEE.
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