To begin with, there was 2G. Then, after a couple of years, it was upgraded to 3G, followed soon by 4G. Now it’s time for more advanced technology that would help you to get access to the web content at a lightning-fast speed. It’s time for 5G!
What is 5G? It is the 5th generation mobile network and is the latest and the most advanced wireless standards. With the help of 5G, a new kind of network can be designed, which can be used to virtually connect every single individual, along with different types of devices, machines, and objects.
When it comes to 5G technology, its primary purpose is delivering enhanced multi-Gbps peak data speeds, with more reliability, extended network capacity, ultra-low frequency, increased availability, and, most importantly, more consistent and standardized user experience. According to the experts, the 5G network, with enhanced efficiency as opposed to its predecessors, can prove to be very useful in connecting industries on a global scale. It needs to be mentioned in this context that mobile phones need to be compatible with 5G technology in order to reap the benefits.
How Does a 5G Network Work?
Now that you have a brief insight on what 5G Technology and 5G Network is, it is time to get some understanding of its functionalities.
To begin with, it needs to be stated that there is a vast difference in terms of Technology and Mechanism when compared with the 4G network. Unlike 4G, a 5G network operates on 3 different bands of spectrums. It might not appear to be very important; however, it will bring about a drastic change as far as everyday use is concerned.
Talking of the low-band spectrum, T-Mobile has emerged as one of the key players. They have managed to get hold of a considerable volume of 600MHz spectrum at an auction at Federal Communications Commission (FCC) in the year 2017 and are rapidly using it to develop a 5G network throughout the country.
In the USA, Sprint has the maximum volume of the mid-brand spectrum, which is unused. They use Massive MIMO to improve the penetration power and coverage area. In the case of Massive MIMO, multiple different antennas are grouped into a single box at a single cell tower. This helps to create numerous simultaneous beams to various users. Sprint has also decided to use Beamforming, to boost their 5G service on this particular spectrum. In this mechanism, a single focused signal is sent to every individual user within a cell, and there are systems available that can be used to monitor that all the users are receiving the consistent signal.
T-Mobile, Verizon, AT&T are all using this spectrum. The fact that this spectrum is not the best option for building penetration, and doesn’t offer the best of coverage, in terms of area, it primarily depends on numerous different smaller cells. These stations are low-power based which can cover smaller geographic sections and can be used with Beamforming, to boost the coverage
Benefits of 5G Network
It goes without saying that 5G Technology has a lot to offer when compared with its immediate predecessor, which is 4G. Here are the top three consumer benefits which 5G has to offer.
5G Phones to Pick
Mobile phone makers are launching phones that operate on 5G. A consumer can choose from One Plus 7 Pro 5G, Samsung Galaxy S20 Ultra, Xiaomi MI MIX 3 5 G, depending on your budget. The latest phone that joins the rank is Huawei -P40 series.
Image Source: Huawei
The Huawei – P40 series was recently launched in Singapore. They are offering 50 GB mobile cloud storage for 12 months. The phone making company will launch two different models – Huawei P40 Pro and Huawei P40. These two models are available in different palettes. Both these models come with 8 GB of RAM. With two years of warranty and screen insurance of 3 months, these two models are expected to be the best ones available in the market when it comes to supporting the 5G network.
Huawei, for a long time, has retained its position as one of the leading service providers in the world. With the launch of 5G enabled handsets, they have added another feather to their cap. However, if you’re not one who likes purchasing new mobiles, you always have the option to rent mobile phones.
How Can 5G Revolutionize Fintech Services?
Financial institutions from all over the world are becoming more mobile-oriented. They are working closely with the Fintech service providers to upgrade their services and to render better quality to their customers. With the advent of 5G, the concept of mobile banking is expected to be more efficient, and it is also going to bring a huge modification to the entire concept of Fintech.
With 5G, more security parameters can be introduced, which would help in the reduction of frauds and theft. Besides, when it comes to an online transaction, money transfer, and various other aspects, 5G is expected to get everything done more quickly and efficiently. On the whole, 5G is going to bring a drastic improvement in Fintech technology.
Image Source: Huawei
Huawei, to tap the fintech market, has launched Huawei Pay in Singapore. The Huawei Pay app is inbuilt in the Huawei P40 series. The mobile giant is providing services in tie-up with ICBC Bank in Singapore.
Whether it is overall customer experience, Fintech technology, or any other mode of communication; 5G Network is the next big thing to look for. And the market is unlikely to stop buzzing.
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