Virtual Money is defined as a digital representation of value that is issued and controlled by its creators. It is used and recognized by members of a specific virtual community. Virtual money relies on an organization that completely works on trust and unlike regular money, it is not issued by central bank or any other banking authorities. A virtual currency permits to transfer money without having to use any sort of intermediary like banks. It uses a cryptographic technology called blockchain that forms a collective and publicly demonstrable file of transactions to stop fraud. This builds trust between sellers and buyers, thus eradicating the want banks to get involved to authenticate the procedure. Globalization, virtualization, active customer participation, cost of reduction and networking are indications of altering reality, persuading also the financial amenities. Operating payments services currently regulated by entities of economic trust, which is based on money that is Continue reading
Business and Technology
Applications and Benefits of Voice Over Internet Protocol (VoIP)
Voice communication will certainly remain a basic from of interaction for all of us. The public switched telephone network simply cannot be replaced, or even dramatically changed, in the short term (this may not apply to provide voice networks, however). The immediate goal for voice over internet protocol service providers is to reproduce existing telephone capabilities at a significantly lower “total cost of operation “and to offer a technically competitive alternative to the public switched telephone network. It is the combination of Voice over Internet Protocol (VoIP) with point-of-service applications that shows great promise for the longer term. The first measure of success for voice over internet protocol will be cost saving for long distance calls as long as there are no additional constraints imposed on the end user. For example, callers should not be required to use a microphone on a pc. voice over internet protocol provides a competitive Continue reading
Proxy and Reverse Proxy Servers
Proxy Server Proxy server is a computer system or application which works as an intermediary for clients searching resources which exist on other servers. It allows different users to access the internet at the same time on a single Internet connection. It aims to improve the speed of surfing the internet and reducing network traffic. It receives requests from a web user such as a web page or a file available on a different server, then it evaluates at responds to the request. It simplifies this process and controls it. A proxy server is also part of a firewall and helps to prevent hackers from using the internet in order to not let them gain access to computers on a private network. The main features of a proxy server are: Caching: This happens when a user requests for a file. The proxy first browses its cache and forwards it if Continue reading
Cryptocurrency – Meaning and How it Works
Cryptocurrency is an online digital and virtual currency which only exists electronically where it is designed to be secure and anonymous. This online currency can be offered as a medium of exchange that operates independently of a central bank. Being independent is a massive attraction for many people as it won’t have any government tampering as there is no central controlling authority. Users on the network would confirm every transaction which then become a public record. This helps prevents the same digital/virtual currency from being spent more than once by the same individual. The ever-fast-moving market of cryptocurrency with exchange rates that can dramatically change by day or even sometimes by the hour Is quite a difficult market to understand. In the 90’s they were many attempts to create digital currencies but most of them failed due to reasons such as fraud and financial difficulties. However, in 2009 an anonymous Continue reading
Technology Management Framework – Gregory’s Five-Process Model
The Gregory’s five-process frame work is an important technology management model, which has been proposed in 1995 by M. J. Gregory. This process has been built based on previous work on technology management. There are several elements have been identified previously link to the technology management within organizations. Competence and capability are important to be analyzed within the organization to understand the strength and weakness. They also reflect how well the organization can satisfy the customers and how fast the organization may response the market. According to this analysis, the company can identify the suitable technology strategy. Organization learning is also widely used concept in technology management. R&D development and new product introduction are the processes which technology is applied in. Innovation activities are taken to deliver the customer satisfaction. However, there is no agreed framework for technology management has been proposed. Based on the literature research on previous work Continue reading
A Holistic Approach to Technology Management
Management of technology links engineering, science, and management disciplines to address the planning, development, and implementation of technological capabilities to shape and accomplish the strategic and operational objectives of an organization. Refer to the definition of technology management, it requires collaboration of the R&D, manufacturing, service and operation function, marketing, finance, and HR function in the company. Thus a holistic approach needs to be taken to manage technology in the company. It will be divided to several reasons to explain in below paragraph and what are the benefits. Firstly, technology management involves multi-functions within the organization. In a company, not only engineering department or R&D department is responsible for technology management, all the functions within the organization are more or less related to technology. Thus technology management requires a system of integration within the organization. For example, the product development and design process has been considered as a traditional technical Continue reading