What's considered the most vulnerable place on the internet? 🤔 (Hint: it's not a suspicious website)
SUBSEA CABLES. Surprisingly, these underwater marvels bear the responsibility of carrying a staggering 97% of intercontinental data traffic. This makes them not only immensely important but also a significant point of vulnerability.
What has startled me is the frequency of subsea cable damage, with approximately 100 incidents reported each year. While this may not seem like a large number, consider that there are only 428 submarine telecom cables in operation, along with approximately 30 subsea interconnector power cables globally. Shockingly, this translates to a staggering 21% of cables experiencing a damage incident annually. Adding to the concern, a majority—two-thirds—of these incidents are directly caused by human activities, with fishing accounting for 44% and anchors for 20%.
Let's delve into the cost of repairing subsea fiber optic cables. Typically, it takes $1 to $3 million to fix a damaged cable. While this figure may appears substantial, it pales in comparison to the cost of service disruptions. Repairing a cable generally takes 10 to 15 days and incurs estimated direct and indirect costs of approximately $2 million per hour. This amounts to an astonishing $600 million in economic impact per damage incident.
Considering the internet's heavy reliance on subsea cables and the high rate of damage they endure, the risk is undeniably concerning. However, it also presents an opportunity.
Enter the FiberSense DigitalAsset Marine solution. Picture a world in which a cable possesses self-awareness, detecting the presence and activities of nearby boats, vessels, and seabed interactions. Envision a system capable of identifying and isolating a potential incident before it occurs. Such a system would not only enhance the safety of vessels navigating our coastlines but also foster greater prosperity within our local communities. These cable uptimes impact the greater affordability of our online meetings, purchases, streaming, and the funny memes that traverse the world.
I extend my heartfelt gratitude to Good Design Australia for acknowledging the hard work of my colleagues at FiberSense. We remain committed to seeking meaningful ways to reshape the world around us, making it a better place for everyone. I humbly request your support in sharing our recognition to contribute to a better world.
#Innovation #startups #cloudcomputing #bankingindustry #economics
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We're grateful to share that our innovative technology, DigitalAsset Marine™️, has won a Good Design Award in the Engineering Design category. The announcement was made on September 8, 2023, at the Good Design Australia Awards, the country's most prestigious international design awards.
The Good Design Awards recognize excellence across multiple design disciplines. The judges were particularly impressed with the engineering excellence of DigitalAsset Marine™️, but also “the innovation and design impact” that we brought to our sector, according to Dr. Brandon Gien, CEO of Good Design Australia.
Standing out from the almost 1000 entries, FiberSense technology has again been recognised for its game changing sensing as a service. The award is a celebration of the transformative power of design to find innovative, customer-centric solutions to local and global challenges.
Our project won out against entries from around the world, evaluated by a panel of over 70 expert jurors. It exemplifies our commitment to innovation and design that has real-world impact.
Please visit https://lnkd.in/gy9Y8Beq to view our submission.
Thank you to Good Design Australia for this recognition and congratulations to all other winners.
This accolade inspires us to continue pushing the boundaries of engineering design.
#gooddesignaustralia #designforgood #engineeringdesign #innovation #resilientinfrastructure
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Congratulations for the success! Affiliated Engineers, Inc.