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CAN YOU EXPLAIN MORE ABOUT THE CHALLENGES AND LIMITATIONS THAT BLOCKCHAINS CURRENTLY FACE

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Scalability is one of the major issues blockchains need to address. As the number of transactions increases on a blockchain, the network can experience slower processing times and higher costs. The Bitcoin network, for example, can only process around 7 transactions per second due to the limitations of the proof-of-work consensus mechanism. In comparison, Visa processes around 1,700 transactions per second on average. The computational requirements of mining or validating new blocks also increases linearly as more nodes participate. This poses scalability challenges for blockchains to support widespread mainstream adoption.

A related issue is high transaction fees during periods of heavy network usage. When the Bitcoin network faces high transaction volume, users have to pay increasingly higher miner fees to get their transactions confirmed in a timely manner. This is not practical or feasible for small payment transactions. Ethereum has faced similar issues of high gas prices during times of network congestion as well. Achieving higher scalability through techniques such as sidechains, sharded architectures, and optimization of consensus algorithms is an active area of blockchain research and development.

Another challenge is slow transaction confirmation times, particularly for proof-of-work based blockchains. On average, it takes Bitcoin around 10 minutes to add a new block to the chain and confirm transactions. Other blockchains have even longer block times. For applications requiring real-time or near real-time transaction capabilities, such as retail payments, these delays are unacceptable. Fast confirmation is critical for providing a seamless experience to users. Achieving both security and speed is difficult, requiring alternative protocol optimizations.

Privacy and anonymity are lacking in today’s public blockchain networks. While transactions are pseudonymous, transaction amounts, balances, and addresses are publicly viewable by anyone. This lack of privacy has hindered the adoption of blockchain in industries that deal with sensitive data like healthcare and finance. New protocols will need to offer better privacy-preserving technologies like zero-knowledge proofs and anonymous transactions in order to meet regulatory standards across jurisdictions. Significant research progress must still be made in this area.

Security of decentralized applications also continues to remain challenging, with bugs and vulnerabilities commonly exploited if not implemented properly. Smart contracts are prone to attacks like reentrancy bugs and race conditions if not thoroughly stress tested, audited and secured. As blockchains lack centralized governance, vulnerabilities may persist for extended periods. Developers will need to focus more on security best practices from the start when designing decentralized applications, and users educated on associated risks.

Environmental sustainability is a concern for energy-intensive blockchains employing proof-of-work. The massive computational power required for mining on PoW networks like Bitcoin and Ethereum results in significant electricity usage that contributes to carbon emissions on a global scale. Estimates show the Bitcoin network alone uses more electricity annually than some medium-sized countries. Transition to alternative consensus mechanisms that consume less energy is a necessity for mass adoption. Many alternatives are still in development stages, however, and have not proven equal security guarantees as PoW so far.

Cross-chain interoperability has also been challenging, limiting the ability to transfer value and data between different blockchain networks in a secure and scalable manner. Enabling easy integration of separate blockchain ecosystems, platforms and applications through cross-chain bridges and protocols will be required to drive multi-faceted real-world usage. Various protocols are being worked on, such as Cosmos, Polkadot and Ethereum 2.0, but overall interoperability remains at a nascent stage still requiring further innovation, experimentation and maturation.

Lack of technical expertise in the blockchain field has delayed adoption. Blockchain technology remains relatively new and unfamiliar even to developers. Training and expanding the talent pool skilled in blockchain development, as well as raising cybersecurity proficiency overall, will play a crucial role in addressing challenges around scalability, privacy, security and advancing the core protocols. Increased knowledge transfer to academic institutions and the open-source community worldwide can help boost the foundation for further blockchain progress.

While significant advancements have been made in blockchain technology since Bitcoin’s creation over a decade ago, there are still several limitations preventing mainstream adoption at scale across industries. Continuous innovation is crucial to address the challenges of scalability, privacy, security, and other roadblocks through next-generation protocols and consensus mechanisms. Collaboration between the academic research community and blockchain developers will be integral to realize blockchain’s full transformational potential.

WHAT ARE SOME OTHER SPREADSHEET PROGRAMS THAT HAVE EMERGED AS COMPETITORS TO EXCEL

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Microsoft Excel has long been the dominant force in the spreadsheet market, primarily due to its inclusion in the Microsoft Office suite and widespread usage in business and education. Over the years several other spreadsheet programs have emerged as viable competitors to Excel, aiming to challenge its legacy with new features and functionality. Here is an overview of some of the major Excel competitors that have gained popularity:

Google Sheets: Developed by Google as part of their Google Docs online office suite, Google Sheets is arguably Excel’s biggest competitor. As a web-based online spreadsheet, it allows for real-time collaboration across devices which has been a major advantage. Like all Google Docs apps, changes are automatically saved to the cloud and documents can be accessed from any computer or mobile device with an internet connection. While starting with fewer features than Excel, it has gained functionality over the years through regular updates and now supports macros, data validation, conditional formatting and other powerful tools. As a free product with over 1 billion users, it has succeeded in capturing significant market share from Excel for personal and business use.

LibreOffice Calc: Part of the free and open source LibreOffice suite, Calc is an excellent free alternative to Excel for general spreadsheet needs. It can open and interact with Excel files seamlessly while also preserving Excel macros and formulas. As the most popular free office suite, it has also gained advocacy from budget-conscious businesses and individuals seeking to reduce software costs. As an open source project, it has a large volunteer developer community constantly working on improving and adding new features to stay competitive with paid options. It may lack some specialized functions that advanced Excel users rely on.

Apple Numbers: Developed by Apple as their alternative to Excel, Numbers is a spreadsheet program exclusively for Mac computers and iOS/iPadOS devices. While gaining prominence on Apple devices, it has failed to gain a significant user base outside the macOS and iOS ecosystems due to its platform restrictions. For users invested in Apple’s hardware and software ecosystem, Numbers provides a polished, reliable spreadsheet option that integrates seamlessly across Macs and iPads. It also comes bundled with new Apple devices, giving it an advantage over competing products. While catching up to Excel in features over the years, it may still lack some specialized functions.

WPS Office Spreadsheets: Part of the WPS Office suite developed by Chinese company Kingsoft, WPS Spreadsheets is rising to prominence as a competitor to Excel in Asia and other international markets. Completely compatible with Excel document formats, it offers many of the same core functions with a more streamlined interface optimized for mobile and touchscreen use. As a cross-platform product compatible with Windows, macOS, Linux, iOS and Android, it offers a viable alternative spreadsheet option for personal and business use across devices. While still developing new features, it has gained popularity on par with Excel in China and other regions.

OnlyOffice Spreadsheet: A component of the open source OnlyOffice office suite, this spreadsheet application is another capable free competitor to Excel. With a strong focus on compatibility with Excel document formats, it allows for seamless sharing and collaboration on spreadsheets between OnlyOffice and Excel users. Developed by the community-run company Ascensio System SIA, it is continuously updated with new features and compatibility improvements through input by its large open source developer community. Though still maturing, it presents itself as an enticing free option for individuals and businesses looking for an open source Excel alternative.

Zoho Sheet: Developed by Zoho Corporation as part of their online office productivity suite, Zoho Sheet is another popular web-based spreadsheet option rivalling Excel and Sheets. With collaborative editing capabilities optimized for teams working across geographical barriers, it provides an attractive free option for cloud-based teamwork on spreadsheets. Its clean interface removes learning curve distractions to focus on core spreadsheet functions. While still finding its footing compared to larger competitors like Excel and Sheets, regular updates are improving functionality and features to remain competitive in this rapidly evolving market segment.

Those are some of the major spreadsheet programs that have gained prominence as competitors to the venerable Excel standard over recent years. With many viable free and cross-platform options emerging from companies large and small, the spreadsheet market is becoming increasingly dynamic and competitive. Excel’s continued stronghold depends on Microsoft keeping up regular innovation to justify its premium price in a field where capable alternatives are growing increasingly hard to ignore. It will be interesting to see which programs rise to greater popularity and gain broader adoption from businesses and individual consumers worldwide in the coming years.

CAN YOU PROVIDE EXAMPLES OF CAPSTONE PROJECTS THAT HAVE HAD A SIGNIFICANT IMPACT IN THE PHILIPPINES

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One highly impactful capstone project in the Philippines was initiated by students from the Ateneo de Manila University in 2014 called Project NOAH. They sought to address the growing impacts of natural disasters in the country by creating an open-source system to gather and share disaster risk information nationwide. The Philippines experiences over 20 typhoons per year on average and suffers heavily from flooding, earthquakes, and tsunamis due to its geography.

Project NOAH’s capstone team developed an offline-capable web and mobile app platform that allowed communities to view hazard maps, submit reports about disasters, and access crucial preparedness and response data even without internet access. This was a game-changer for remote regions facing connectivity issues. They worked closely with the Philippines’ disaster management agency to gather their hazard and risk data and populate the platform. In just a few years, Project NOAH expanded nationwide and its data and tools have directly helped over 35 million Filipinos prepare for and respond to extreme weather events.

The system has proven instrumental during major typhoons like Haiyan in 2013, the deadliest storm to ever hit the country. Project NOAH’s maps and reports helped direct search and rescue operations as well as aid distribution. Lives have been directly saved thanks to communities understanding their risk levels and knowing where to evacuate. Independent studies estimate Project NOAH has saved over $150 million USD in damages by increasing disaster readiness across the nation. It’s now being used as a model for other developing countries to help build community resilience to climate change impacts.

Another truly impactful capstone project took place from 2012-2014 through a partnership between De La Salle University and various Philippine government agencies tackling environmental concerns. Dubbed Project TRASHman, the team developed an integrated solid waste management system specifically for managing Manila’s garbage crisis. At the time, the Philippines’ capital was overflowing with over 10,000 tons of waste accumulated daily and dumping was haphazard with no organized collection.

Project TRASHman’s main solution was a tech-enabled waste tracking system that used RFID tags and an online dashboard. Tags were attached to garbage trucks and dumpsters to geo-track routes, schedule pickups efficiently, and monitor waste volumes in real-time. Custom mobile apps allowed residents to report clogs and issues. Using spatial analysis, Project TRASHman also produced the first ever comprehensive solid waste master plan for Manila with optimized collection zones and proposed materials recovery facility sites.

Within two years of full implementation, Manila saw a 60% decrease in dumping instances, a 40% reduction in spilled wastes, and tens of millions in annual cost savings from optimized logistics. Project TRASHman helped turn Manila from one of Asia’s filthiest cities to a model for integrated municipal solid waste management. It proved technology can be leveraged to revolutionize whole sectors and dramatically improve living standards when paired with collaborative community solutions.

A third notable Filipino capstone was Project Aksyon Klima initiated in 2018 by Mapúa University students. Concerned with catastrophic impacts of unchecked global warming, they launched a nationwide climate literacy and action campaign to raise public understanding of climate change issues and drive mitigative behaviors. Their multi-pronged solution involved developing educational smartphone apps, informational videos, classroom workshops and public forums across the archipelago.

Project Aksyon Klima’s diligent year of outreach saw climate change conversations quadruple in online spaces. Over 500,000 elementary students directly engaged through workshops to plant seeds early. Consumption surveys found 5-15% reductions in meat and single-use plastic usage in targeted municipalities. By facilitating collective grassroots action on climate aligned with Philippines’ national strategies, Project Aksyon Klima empowered a wave of community-driven emission reduction projects from renewable energy micro-grids to urban gardens.

This capstone exemplifies how raising awareness and fostering local climate leadership can help developing nations leapfrog to greener development pathways despite lacking resources of industrialized countries. Project Aksyon Klima left a sustainable model of youth-mobilized outreach that is still manifesting long-lasting climate solutions nationwide today.

These three innovative capstone projects tackling pressing Philippine issues through technology, data-driven solutions and grassroots engagement have yielded enormously impactful and sustainable outcomes. By building community resilience, revolutionizing waste management systems and cultivating climate action, they exemplify how harnessing student skills and lessons can directly improve millions of lives and help developing countries progress toward UN global goals. Impactful capstone work shows enormous potential to drive public benefit when projects are meaningfully aligned with societal needs.

WHAT ARE SOME KEY SKILLS THAT STUDENTS CAN DEVELOP THROUGH BANKING CAPSTONE PROJECTS

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Banking capstone projects provide students with an opportunity to apply the concepts and skills they have learned throughout their program to solve real-world banking challenges. These types of projects allow students to gain valuable practical experience and develop skills that will serve them well as they enter the banking workforce. Some of the key skills students can cultivate through banking capstone projects include:

Financial Analysis and Modeling: Capstone projects often involve conducting in-depth financial analysis of various banking scenarios and modeling potential solutions. This gives students direct experience analyzing income statements, balance sheets, and other financial reports. They also get to build out financial models to forecast outcomes, assess risk, evaluate alternatives, and make recommendations. These analytical and modeling skills are core competencies for many roles in banking.

Problem Solving and Critical Thinking: Banking capstone projects immerse students in solving real problems facing the industry. This requires students to think critically and analytically to fully understand the scope of the issue, identify root causes, and brainstorm multiple viable solutions. Students apply problem-solving frameworks and employ research, logical reasoning, and judgment to arrive at well-supported conclusions and solutions. This experience enhances students’ ability to think on their feet and address complex problems in the workplace.

Research Skills: Most projects involve conducting contextual research on topics like regulations, market conditions, emerging technologies, customer behaviors, and industry best practices. Students learn to navigate online databases, validate information from reliable sources, synthesize key learnings, and incorporate research findings into their analysis and solutions. Hands-on research cultivates skills that are transferable to any role in the banking industry.

Communication Skills: To complete their projects, students communicate regularly with their mentors and peers. They also present their project proposals, interim findings, and final recommendations – both in written reports and live presentations. This provides an authentic context for students to practice delivering clear, concise, and compelling communications tailored for different audiences. The ability to effectively explain complex ideas is indispensable for professional success.

Project Management Skills: Banking capstone projects require students to manage complex, multi-step projects from start to finish within strict deadlines. They develop organizational abilities by creating detailed project plans, setting interim milestones, assigning tasks and responsibilities, and tracking progress regularly. Managing capstone work helps build time management, prioritization, and adaptability skills that banking employees rely on daily.

Technical Skills: Certain capstone projects involve building financial models, conducting data analysis using tools like Excel and SQL, designing system prototypes using programming languages, or applying new blockchain and AI technologies. This hands-on experience with tools and technical skills develops students’ capabilities to seamlessly integrate technology into their future banking roles.

Ethical and Regulatory Understanding: Banking projects typically address topics through a lens of increasing regulatory compliance and stakeholder responsibility. Students strengthen their grasp of ethics, privacy, security, and other legal/regulatory issues impacting the modern banking industry. This sophisticated perspective prepares them to operate with integrity as banking professionals.

Leadership and Collaboration: Working closely with peers and mentors, capstone students often lead elements of their projects while also functioning as an effective team member. They learn to delegate tasks strategically, incorporate diverse inputs, resolve conflicts, and rally the team towards a shared goal. Strong interpersonal skills and the ability to lead cross-functional efforts are crucial for career advancement in banking.

Confidence and Professional Identity: Completing a major capstone project is an accomplishment students feel proud of. Gone are the days of theoretical classroom discussions. Students emerge with the confidence that comes from independently applying their education to solve real problems and gain a practical understanding of their professional field. Through their capstone experience, students solidify their identities as new banking professionals ready to take on rigorous responsibilities.

Banking capstone projects provide the types of authentic, hands-on experiences that greatly assist students in developing the broad array of technical, analytical, research, communication, and interpersonal skills necessary for career success. Well-designed projects immerse students in an environment that mirrors real-world banking work, allowing them to build and demonstrate core competencies that will give them an advantage as they transition to their first roles and continue advancing in the industry. Capstones are highly effective at preparing graduating students for thriving, impactful careers in banking and financial services.

WHAT ARE SOME COMMON CHALLENGES THAT STUDENTS FACE WHEN CREATING THEIR CAPSTONE PROJECT TIMELINES

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A major challenge students face is underestimating the total time needed to complete all aspects of the capstone project. Capstone projects often involve complex, multi-step processes that require extensive planning, research, execution of various tasks, analysis, and reporting. Students who are working on their capstone projects for the first time may find it difficult to accurately estimate how long each part of the process will take. They tend to assume tasks will take less time than is realistically needed. This can lead to an unrealistic timeline that does not properly account for potential setbacks or delays. To address this challenge, students should build extra buffer time into their initial timeline estimates. They can also consult with faculty advisors or peers who have completed capstones previously to get a better sense of realistic timeframes.

Another timeline-related challenge comes from failing to properly break down large projects into specific, actionable tasks. It is easy for students to list broad steps like “conduct research” or “analyze data” in their timelines without delineating the numerous sub-tasks that fall under each of those headings. This results in a timeline that is vague and difficult to use effectively for planning purposes. Students should spend time whiteboarding or mind-mapping all of the individual processes, decisions, and to-dos that fall under each major step. Only by breaking projects down into discrete, actionable tasks can students then estimate realistic deadlines and due dates to develop a useable timeline.

Related to the above challenge, students also commonly struggle with sequencing and ordering the necessary tasks and milestones in a logical workflow. Without a clear understanding of workflow dependencies, it is easy for timeline tasks and dates to be listed in an illogical or even contradictory order. Students must take care to think through how each individual task, whether research, data collection, analysis, or writing, informs or depends on subsequent tasks when putting together their timelines. Failure to consider workflow and dependencies can result in unrealistic assumptions about when certain tasks can be completed.

A further issue stems from external factors and life events that are difficult to foresee and plan for when students are first developing capstone timelines. Personal issues like health problems, family emergencies, or increased work responsibilities are common sources of unplanned delays. So too are challenges like difficulty connecting with potential interviewees or participants, problems securing needed resources or approvals, adverse weather/disaster events, or technologic difficulties. Students should incorporate buffer time and build in contingencies in their timelines to allow for minor setbacks from unforeseen circumstances that are an inevitable part of any long-term project work. They can also schedule regular meetings with advisors to re-evaluate progress against timeline goals and modify deadlines as needed.

Student motivation and consistency of effort over long periods is another factor often underestimated in early capstone timelines. As capstone work gets broken into smaller incremental tasks over months, it is easy for student momentum and focus to waver without structured accountability. Timelines need to be designed with intermediate progress reporting, submission of modular deliverables, and regular checkpoint meetings built in to keep students on track motivationally as well as temporally. Without breaks in long-term projects and consistent oversight, timeline goals may not be met due to lapses in effort or follow through. Proactively planning periods for review of accomplishments and adjustment of next steps can help address issues of flagging motivation.

Ensuring adequate timeliness reviews of drafts is also key. Students may underestimate how long different rounds of feedback, revision and refinement of deliverables may take based on faculty and committee availability. Multiple draft iterations of proposals, methodology documentation, initial findings and final reporting are standard parts of the capstone process but the related timing is difficult for students to estimate accurately without prior project experience. Timelines need to realistically account not just for the initial development of deliverables but multiple review-feedback-revision cycles as well. Proper deadline setting here requires communication with advisors about their review cycles and availability for feedback.

Students face numerous realistic challenges in creating accurate and usable timelines for their lengthy capstone projects given the complex nature of the work and their own inexperience in executing such long-term independent research or analysis. Careful planning, frequent re-evaluation, incorporation of schedule buffer time, consideration of life factors and draft review cycles, structured interim deliverables and regular advising checkpoints can help students to develop strong yet flexible capstone timelines that set them up for success in completing their final academic assignments. With guidance from faculty and peers, students can learn to anticipate and address many timeline issues early to stay on track.