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Maximizing the Value of Industrial IoT with Private Mobile Networks

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Private mobile networks
Illustration: © IoT For All

There is no shortage of wireless technologies available for IoT deployments, particularly for industrial IoT and factory automation settings. LoRa, Bluetooth, LTE, Z-Wave, Zigbee, and Wi-Fi are all candidates used in commercial deployments today. However, given the reliability, performance, and coverage requirements for industrial IoT and automation applications, it’s clear that 5G is a superior connectivity solution for manufacturers and industrials. So much so that the 3GPP has “baked” time-sensitive networking requirements into its standards process.

5G

When focusing on physical control applications across different vertical markets, especially industrial automation and energy automation, 5G is ideally suited to deliver more deterministic wireless connectivity. Many of today’s industrial automation and manufacturing floor applications can simply no longer tolerate any network delay or latency associated with conventional wireless solutions such as Wi-Fi. If latency is experienced, these applications often time out or stop working, often causing irreversible damage to business operations and loss of revenue and productivity.

New private 5G technology solves these problems with ultra-reliable ultra-low-latency communication (URLLC) capabilities now required for any mission-critical use cases that require 24/7 availability and need to share real-time information. However, how 5G is deployed in an industrial IoT setting is as important as its technology.

Protocols

Thanks to the FCC’s recent decision to open up an unlicensed wireless spectrum in the CBRS (Citizens Broadband Radio Service) band, industrials interested in IoT now have the opportunity to deploy what’s known as a private mobile network.

This is very similar to the public cellular network that most of us use daily with our smartphones and tablets. Private mobile networks are built using the same 5G protocols, but the networks themselves are not owned and operated by wireless service providers like Verizon, AT&T, and others. A private 5G network is owned and operated by a single organization and geographically bound by that company’s property (like a smart factory) and managed similarly to its Wi-Fi networks today. The organization owns the equipment and data running over the network with complete control over all security and quality of service policies.

Private 5G Networks

Private 5G networks for IoT provide some critical capabilities that are not possible with other wireless technologies. Some of these include:

Enhanced Coverage

Private 5G networks are designed explicitly for the kind of network traffic generated by IIoT sensor networks. Moreover, private 5G networks give individual organizations far better control in designing and deploying a RAN (Radio Access Network) on their premise to ensure the ideal coverage for all applications. Private 5G networks are also ideal for outdoor or mixed indoor/outdoor applications.

Superior Reliability

IIoT use cases, devices, and systems need ultra-reliable connectivity to perform their core functions. From a wireless perspective, private mobile networks are the only option capable of delivering on that requirement.

Ultra-Low Latency

URLLC technologies inherent in 5G are augmented by private mobile network models, giving industrial organizations the ability to deploy applications that demand real-time communications. Use cases like smart monitoring for worker safety, robotics, and heavy equipment wouldn’t be feasible without this functionality.

Enhanced Security

The private 5G network model ensures that organizations have complete control over their data and do not rely on a public wireless operator to handle one of its most valuable resources. Another benefit of this new spectrum-based “traffic lane” is that it ensures the manufacturing data traffic is kept local and separate from networks used by guests or other personnel that do not need access to secure data. That built-in security can be a critical element for business and safety reasons.

Deployment

There are multiple deployment options for private 5G networks. One of the most popular approaches is to “do it yourself” using purpose-built systems designed specifically for enterprise use. Enterprise can purchase the technology from the same supplier channels from which IIoT organizations consume other solutions. These include VARs, system integrators, and even managed service providers (MSPs).

Private 5G networks also afford organizations the rare ability to build the network on their own terms, integrating cellular technology with their existing IT infrastructure. This gives companies complete control over the organizations but does require some level of expertise internally.

Another less popular approach is contracting with a carrier or service provider that already operates a vast 5G public network infrastructure. In this case, companies are offered a “slice” of the public network virtually dedicated to them. This typically requires term contracts with a provider and relinquishes the control of the infrastructure to the operator. If something changes, a new application hits the networks, or some problem arises, the carrier is effectively charged with fixing the issue. When time is of the essence, enterprises must often wait on the carriers to resolve.

Use Cases

Because of its unique ability to overcome many of the inherent wireless problems associated with conventional wireless technologies, private 5G networks have begun to serve as the foundation for myriad IIoT use cases, including:

Autonomous Guided Vehicles (AGVs)

AGVs can be used for security, moving products, and many other applications. These can include wheeled robotic vehicles or even drones.

Computer Vision and Smart Monitoring Applications

In combination with machine learning, imaging is being applied to a wide range of applications. Worker safety and ensuring policy compliance are important to use cases. For example, a smart monitoring solution can ensure the appropriate amount of people are in a given area, monitor moving equipment, and guarantee that workers are wearing appropriate Personal Protective Equipment (PPE).

Predictive Maintenance

Private 5G networks can help identify metal fatigue or manufacturing faults to reduce failures and outages or determine when specific elements need to be replaced. The amount of data required by the HD cameras for this application can be huge and require a 5G connection with its high reliability and performance.

Remote Control of Heavy Equipment

Everything from cranes to earth-moving equipment to oil and gas pumps could benefit from a private 5G network. These applications are often outdoors, which requires the capabilities of 5G wireless in a private model.

These are just a few of the many applications that private 5G networks enable for the Industrial IoT.

Ultimately, based on 4G and 5G cellular wireless technology, emerging private mobile networks now offer a more robust and reliable connectivity option for a myriad of different industrial and manufacturing needs. While 5G on its own has been overhyped as the be-all, end-all for consumers, its deployment within the enterprise will profoundly impact the future of campus networks. Through the use and deployment of private mobile networks, IoT organizations can now gain immense value that translates into lower costs, improved productivity, and unprecedented security and control.

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Source: https://www.iotforall.com/maximizing-the-value-of-industrial-iot-with-private-mobile-networks

IOT

Cold Chain Monitoring Efficiency with IoT

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Cold Chain supply
Illustration: © IoT For All

Many people refer to the “Cold Chain” primarily as the delivery of goods and the environment in which they were transported. They even tend to focus mostly on only one attribute: Temperature. There is much more information to collect for cold chain monitoring other than temperature.

Temperature questions include:

  • Were the goods properly cooled during their journey?
  • Was the temperature low enough but not too low to damage the goods?
  • Were the goods un/loaded quickly enough without interruptions of the cold chain?

Buy or Don’t Buy

These are all crucial questions, and we should definitely continue asking them. However, what about the remaining information that might influence the buy or don’t buy a consumer’s decision? These questions include:

  • When were the goods produced or picked?
  • Were the goods specially treated to be sustainable in case of a long journey?
  • Where are the goods coming from and what path did they take to arrive here?
  • How long were the goods stored and at what locations?

Efficient Operations

How about the information, which focuses on the business side to ensure efficient and economical operations?

Information Efficiency
How were the goods picked? Is this process in combination with all other steps reducing the shelf time of the goods?
Where are the goods packaged / transported / handled as defined throughout the whole journey? Are we able to dynamically adjust to changes along the journey?
Who is transporting/storing the goods? When something happens, who will be responsible? What additional insurance is required to cover specific corner cases?
What is the final destination and when should the goods arrive there? How can we bundle multiple deliveries into one and optimize our delivery routes?

There is so much more information to collect than just temperature. On the one hand, information enriched and shared with consumers increases confidence in the product itself. On the other hand, information that highlights underperforming processes (such as delivery routes) enables companies to create new and better ways of monetization.

Recording and Managing

Recording and managing all attributes from the complete cold chain (end to end) is not an easy venture. The data must be provided by multiple independent companies, recorded by dozens of employees, and on top of that, also monitored, summarized, and reported by a dedicated team.

With the masses of goods shipped and delivered daily across the globe, recording all the mentioned data traditionally creates a monumental task that is everything but economical and efficient. Therefore, it is often neglected because it’s cheaper and easier to order a replacement part instead of investigating hours to determine where the process has failed.

But it does not need to be like that. Modern IoT sensors can provide all of the mentioned benefits including full insight into every single process of the whole cold chain (end to end) with a fraction of the usual efforts and cost!

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.iotforall.com/cold-chain-monitoring-efficiency-with-iot

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Artificial Intelligence

Digital banking market: Top trends boosting the industry growth through 2026

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Digital banking market: Top trends boosting the industry growth through 2026

Global digital banking market has witnessed significant boost in recent years, thanks to the various technological advancements happening in the banking sector. Banking institutions are using technologies and devices like Artificial Intelligence (AI) and Internet of Things (IoT) to not only improve the products and services offered by them but to enhance the overall customer experience as well.

The COVID-19 pandemic played a pivotal role in increasing the use of digital banking solutions among customers across the world as several governments had imposed movement restrictions and lockdowns. This forced many people to turn to online banking channels to conduct their daily transactions. The pandemic posed a challenge for the banks and financial institutions as well because they had to think of creative ways to use the digital medium. 

Many smaller and lesser-known banks had to go digital in order to retain their existing customer base and increase their presence in different nations across the globe. Retail shopping saw a boost in its online sales as more customers preferred online shopping platforms. This gave smaller businesses an opportunity to widen their customer base and expand in different areas. People who were already in the field of digital business were flourishing during the pandemic.

The trends that will boost the development of global digital banking industry are given below:

Online investment banking activities will rise in Asia Pacific:

Asia Pacific digital banking market will exceed valuation of nearly $8 billion by 2026. The digital investment banking segment is expected to grow at more than 10% CAGR through 2026. This is because the region is witnessing rapid internet penetration which has made more financial products and services easily available for a wide range of customers.

Investment banking has become much easier today as compared to a few years ago as people then would solely rely on the suggestions of their brokers and then take important investment decisions. However, that is not the case today as people are increasingly participating and learning the tricks of the stock exchange on their own, thanks to millions of online investment platforms available. E-trading has played an important role in saving time, money and energy of several investors as the stock markets can be accessed with the help of smartphones.

Mobile payments will benefit APAC digital banking market:

Developing countries in APAC region are witnessing heavy adoption of NFC and POS terminals because of the rapid digitization happening in these nations. Banking services in these economies are taking the digital route to not just increase the customer base but to expand their business as well. High-end gadgets like tablets and smartphones are experiencing rapid rise in their demand among consumers in India, Indonesia, Philippines and Malaysia, leading to the introduction of mobile wallets. 

These wallets are a digitized version of physical wallets and perform functions like making payments and cash withdrawals. Mobile wallets provide security to the cash stored unlike physical ones. The increase in use of mobile wallets has compelled retail shops to get themselves integrated with online payment platforms to accept mobile payments. All these factors will create a positive impact on digital banking market size in Asia Pacific region.

Strategic alliances to innovate digital baking products:

Several companies that are a part of digital banking market in Asia Pacific are getting into strategic alliances with other fintech firms. They aim to create innovative products and services to serve banking customers in a better manner. In January 2019, Western Union announced its partnership with Kakaobank of Korea Corporation to launch Western Union money transfer services in an app created by Kakaobank. This partnership was quite beneficial for the customers of Kakaobank as they were able to send and receive money with the help of this app, thereby enhancing their overall experience.

Digital corporate banking services will gain momentum in Europe:

Digital banking market size in Europe is expected to surpass $2 billion by 2026. Corporate banking segment is estimated to grow at nearly 5% CAGR during the forecast period of 2020-2026. One of the major reasons for this is the increasing need among customers to reduce the high number of formalities and complexities involved in the banking sector. Conventional banks often have many portals and rivals, thereby making life difficult for corporate customers who want to maintain different accounts for their business.

This is where digital banking solutions are useful as they provide an online dashboard that has complete information in a consolidated format. This helps the corporate customers in viewing the history of their transactions and even provide financial projections of their cash position in the form of graphs.

Canada will see higher demand for digital banking services:

Canada digital banking market is expected to show exponential progress during the forecast period of 2020-2026. The country has been quick to adopt some of the most advanced banking technologies to improve their financial infrastructure. There are a large number of customers today that are using digital banking platforms to complete their daily transactions. 

The Canadian Imperial Bank of Commerce, in August 2020, announced its plan to use the CRM platform of Salesforce to improve the overall experience of customers. The bank aims to provide end-to-end digitization services and advanced analytics to encourage customers to use digital banking services.

Increasing use of retail baking in North America:

Financial apps on mobile devices are experiencing an incredible surge in demand among consumers in North America. This is because they provide ease in doing transactions. People can now receive all kinds of information related to their financial transactions on their smartphones and tablets. This has prompted financial institutions to make changes in their functions and make them more suitable for online banking operations. It has resulted in improved experience for customers and has benefited the banks as well.

Some of the top financial institutions providing digital banking services across the world are Intellect Design Arena Ltd., The Bank of New York Mellon Corporation, CREALOGIX AG, ebankIT, Fidor Solutions AG, TATA Consultancy Services Limited and many others.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/digital-banking-market-top-trends-boosting-the-industry-growth-through-2026/

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Artificial Intelligence

Digital banking market: Top trends boosting the industry growth through 2026

Published

on

Digital banking market: Top trends boosting the industry growth through 2026

Global digital banking market has witnessed significant boost in recent years, thanks to the various technological advancements happening in the banking sector. Banking institutions are using technologies and devices like Artificial Intelligence (AI) and Internet of Things (IoT) to not only improve the products and services offered by them but to enhance the overall customer experience as well.

The COVID-19 pandemic played a pivotal role in increasing the use of digital banking solutions among customers across the world as several governments had imposed movement restrictions and lockdowns. This forced many people to turn to online banking channels to conduct their daily transactions. The pandemic posed a challenge for the banks and financial institutions as well because they had to think of creative ways to use the digital medium. 

Many smaller and lesser-known banks had to go digital in order to retain their existing customer base and increase their presence in different nations across the globe. Retail shopping saw a boost in its online sales as more customers preferred online shopping platforms. This gave smaller businesses an opportunity to widen their customer base and expand in different areas. People who were already in the field of digital business were flourishing during the pandemic.

The trends that will boost the development of global digital banking industry are given below:

Online investment banking activities will rise in Asia Pacific:

Asia Pacific digital banking market will exceed valuation of nearly $8 billion by 2026. The digital investment banking segment is expected to grow at more than 10% CAGR through 2026. This is because the region is witnessing rapid internet penetration which has made more financial products and services easily available for a wide range of customers.

Investment banking has become much easier today as compared to a few years ago as people then would solely rely on the suggestions of their brokers and then take important investment decisions. However, that is not the case today as people are increasingly participating and learning the tricks of the stock exchange on their own, thanks to millions of online investment platforms available. E-trading has played an important role in saving time, money and energy of several investors as the stock markets can be accessed with the help of smartphones.

Mobile payments will benefit APAC digital banking market:

Developing countries in APAC region are witnessing heavy adoption of NFC and POS terminals because of the rapid digitization happening in these nations. Banking services in these economies are taking the digital route to not just increase the customer base but to expand their business as well. High-end gadgets like tablets and smartphones are experiencing rapid rise in their demand among consumers in India, Indonesia, Philippines and Malaysia, leading to the introduction of mobile wallets. 

These wallets are a digitized version of physical wallets and perform functions like making payments and cash withdrawals. Mobile wallets provide security to the cash stored unlike physical ones. The increase in use of mobile wallets has compelled retail shops to get themselves integrated with online payment platforms to accept mobile payments. All these factors will create a positive impact on digital banking market size in Asia Pacific region.

Strategic alliances to innovate digital baking products:

Several companies that are a part of digital banking market in Asia Pacific are getting into strategic alliances with other fintech firms. They aim to create innovative products and services to serve banking customers in a better manner. In January 2019, Western Union announced its partnership with Kakaobank of Korea Corporation to launch Western Union money transfer services in an app created by Kakaobank. This partnership was quite beneficial for the customers of Kakaobank as they were able to send and receive money with the help of this app, thereby enhancing their overall experience.

Digital corporate banking services will gain momentum in Europe:

Digital banking market size in Europe is expected to surpass $2 billion by 2026. Corporate banking segment is estimated to grow at nearly 5% CAGR during the forecast period of 2020-2026. One of the major reasons for this is the increasing need among customers to reduce the high number of formalities and complexities involved in the banking sector. Conventional banks often have many portals and rivals, thereby making life difficult for corporate customers who want to maintain different accounts for their business.

This is where digital banking solutions are useful as they provide an online dashboard that has complete information in a consolidated format. This helps the corporate customers in viewing the history of their transactions and even provide financial projections of their cash position in the form of graphs.

Canada will see higher demand for digital banking services:

Canada digital banking market is expected to show exponential progress during the forecast period of 2020-2026. The country has been quick to adopt some of the most advanced banking technologies to improve their financial infrastructure. There are a large number of customers today that are using digital banking platforms to complete their daily transactions. 

The Canadian Imperial Bank of Commerce, in August 2020, announced its plan to use the CRM platform of Salesforce to improve the overall experience of customers. The bank aims to provide end-to-end digitization services and advanced analytics to encourage customers to use digital banking services.

Increasing use of retail baking in North America:

Financial apps on mobile devices are experiencing an incredible surge in demand among consumers in North America. This is because they provide ease in doing transactions. People can now receive all kinds of information related to their financial transactions on their smartphones and tablets. This has prompted financial institutions to make changes in their functions and make them more suitable for online banking operations. It has resulted in improved experience for customers and has benefited the banks as well.

Some of the top financial institutions providing digital banking services across the world are Intellect Design Arena Ltd., The Bank of New York Mellon Corporation, CREALOGIX AG, ebankIT, Fidor Solutions AG, TATA Consultancy Services Limited and many others.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/digital-banking-market-top-trends-boosting-the-industry-growth-through-2026/

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IOT

The Strings of Cellular IoT

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Cellular Wires
Illustration: © IoT For All

I’ve spent the last decade of my career working on software and hardware tools for developers. Every product I’ve worked on – from web UI tools and mobile app dev services to developer-biased IoT tools – was created to help developers get something done faster. Tools designed to foster collaboration and lower the learning curve of complex technologies so that teams and companies can solve problems faster. And every product was focused on untangling all of the complexity associated with building solutions in that space.

In IoT, we have more than our share of complexity. We get all of the complexity of the software world mixed in with a healthy dose from the physical world around us.

In cellular IoT, I like to refer to this complexity as “the strings of cellular IoT.” They are the things that developers often cannot control about building IoT solutions or which exist by pure inertia. They are things that slow developers down, cut off choice, or provide unnecessary duplication of effort. They are things that lead us to search for alternatives that may be less than ideal but which feel worth the tradeoff in our frantic efforts to reduce friction.

And while there are many such strings in the cellular space, these are the ones I tend to see most often:

  • Difficult-to-program modems
  • Developer Guardrails
  • Device lifecycle management pitfalls
  • Security not included
  • The meandering path from prototype to scale

Difficult-to-Program Modems

This command set – often referred to as the “AT command set” because many of the commands start with the string “AT” – was developed by Dennis Hayes in 1981 as a standard command set for interfacing with dial-up modems. If you’ve ever had to work directly with a cellular or Wi-Fi modem, you’re no doubt familiar with the Hayes command set. It’s terse and was created in a time when instruction sets were designed to save space. As a result, it’s about as developer-friendly as machine code.

It’s also still in use on many modems, including most cellular IoT devices.

For those unfamiliar with the AT command set, here’s a brief example of the commands needed to turn on a cellular IoT module, set its APN, configure an LTE band, and start scanning for towers:

An example of AT commands for controlling a cellular IoT device.

For many developers, myself included, AT commands are cryptic and inaccessible. They are non-intuitive and differ from one module to the next. It’s a painful way to add a connectivity module to your application. Yet, it’s still the way of the modern world if you’re looking to integrate a cellular modem into your IoT solution.

Developer Guardrails

The challenge of working with cellular IoT modems is well-known, and solutions do exist to create developer-friendly abstractions on top. The problem is that these abstractions often come with guardrails that do too much, or too little, to help accelerate building a connected solution.

Some vendors create narrow guardrails and abstract away the complexity into developer-friendly APIs. The problem is, they also force you to adopt their Host microcontroller, their RTOS, and even a particular programming language. As nice as it is to abstract away the AT command set, cutting off developer choice in the rest of the stack is a steep price to pay in exchange.

Other vendors give you wide guardrails. They sell you only a SIM or a piece of hardware that requires you to furnish your own SIM and plan. This approach has certainly brought down the cost of IoT and M2M data plans, but it swings too far in the other direction. Developers get cheaper connectivity but are left to build up the rest of their solution stack themselves. As a result, the developer ends up with the equivalent of “writer’s block” or “blank page syndrome” because there is so much to choose from.

The either-or nature of the guardrails in place today leaves developers with a difficult selection: accept too much restriction, or forge ahead with too little guidance?

Device Lifecycle Management Pitfalls

How do you design a real-world IoT device when the cost model isn’t built to account for real-world use?

Beyond cryptic interfaces and guardrails, developers must also contend with the cost of managing devices and data, much of which is hidden from view. Every device has a price, but some have multiple: the price you pay up-front, the price you pay for data, and the price you pay for a device to change its state, for instance, when activated or deactivated.

When a device has multiple price components or shadow costs, it can be hard to know exactly what your IoT solution will cost you. Especially since the reality is that IoT products don’t follow a happy path where they fly off the shelf, are deployed into the field immediately, and are used forever and ever without end.

Instead, most IoT devices tend to go through a pretty consistent lifecycle:

  • A inventory and distribution stage where they sit idle.
  • Activation when they are first used.
  • A period where they fall into less than regular use, but the device is still “online” and accruing fees.
  • A period of temporary breakage, and it can often take months before the issue is identified and fixed.
  • Re-commissioning after the device is fixed.
  • A period where the device is decommissioned permanently.
An illustration of a typical device lifecycle.
The typical device lifecycle

Now imagine that you’re paying the same monthly data fee for every one of these stages, regardless of actual use, as well as charges for activation, re-commissioning, and decommissioning. The challenge in the cellular IoT space is that each of these phases in the device lifecycle comes with carrier fees and transaction costs that can be difficult to plan and budget for. As a result, when most developers look at an IoT device, they don’t know its true cost.

How do you design a real-world IoT device when the cost model isn’t built to account for real-world use?

Security Not Included

Key and certificate management is an essential part of every IoT solution. There’s also the string of security, a topic that developers are ever conscious of, but many providers don’t bake into their products. And with all major IoT cloud services now requiring TLS, in the absence of baked-in security, developers are forced to store keys and certificates in firmware to connect their devices to cloud services.

With keys and certs in firmware, your IoT devices become yet another sensitive vector that an attacker can use to get the (literal) keys to your kingdom.

The Meandering Path From Prototype to Scale

Finally, there’s the string of the disconnect between prototype and production solutions, even as developer-friendly tools abound. As developers, we should consider ourselves fortunate that prototyping is accessible today, thanks to companies like Arduino, Adafruit, SparkFun, and the Raspberry Pi Foundation. But because much attention has been paid to how “maker friendly” these devices are, they are often dismissed as not production-ready. IoT engineers will gladly use these accessible tools to prove an idea at the prototype stage, but throw those prototypes away and start over when it comes time to build a “real” solution.

But if these tools are good enough for the Mars Ingenuity helicopter, they should be good enough for our solutions. And IoT solution vendors can absolutely do more to minimize the throwaway mindset with tools that make prototyping easy from the start and which level-up to pilot and production scale just as seamlessly.

Complexity Kills

When taken together, the strings of cellular IoT create a developer-hostile environment where complexity rules. From the start, the path from selecting a board to building a prototype to deploying and scaling a pilot is filled with hurdles and roadblocks that make it hard for many initiatives to succeed.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.iotforall.com/the-strings-of-cellular-iot

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