A Short History of the Blockchain Technology When an unknown scientist under the pseudonym Satoshi Nakamoto published his white paper about Bitcoin – a “purely peer-to-peer version of electronic cash”– in 2008, it was not the cryptocurrency itself but its underlying mechanism, known today as the blockchain, that was considered revolutionary. But overall awareness of the blockchain technology remained rather limited, as Bitcoin itself was not yet widely known. Starting in the year 2012, increasing activity surrounding Bitcoin could be observed, as the cryptocurrency’s market capitalization grew and start-ups in the field of payments and coin wallets started to emerge. But still, Bitcoin and the underlying blockchain remained subject to a general scepticism, being associated mainly with the financing of rather sketchy online activities and other misconceptions. Nonetheless, by the year 2014, over 80 uses of blockchains had been reported. Slowly, the initial scepticism gave way to the increasing efforts of Continue reading
Business Information Systems
Case Study of FedEx: Pioneer of Internet Business in the Global Transportation and Logistics Industry
Transportation is one of the largest industries in the world, and its sector range is very wide which include taxis, truck, train, ships, barges, airplanes, pipelines, warehouse and logistics service. For the industry, the three main trends were globalization of business, information technology development and new technology to support process efficient, and the market demand for more value-added. Hence, the companies in transportation and logistics industry depend on the global network of distribution centres to gain quick payment cycle and cheaper resources. In FedEx Corporation, as a leader firm in the industry, its centralized structures have always required, and facilitated billion dollar investments in IT and established the website from 1994. It provided a successful technology for the FedEx Corporation as a pioneer in the whole industry for e-business. This strategy became an advantage that they used to undermine their competitors’ strengths and localized customer service. With a globally connected Continue reading
Data Warehousing – Meaning, Benefits and Implications
What is Data Warehousing? The term data warehouse or data warehousing was first coined by Bill Inmon in the year 1990 which was defined as a “warehouse which is subject-oriented, integrated, time variant and non-volatile collection of data in support of management’s decision making process”. When referring to data warehousing as subject oriented, it simply means that the process is giving information about a particular subject rather than the details regarding the on-going operations of the company. Moreover, when data warehousing was referred to as integrated it means that the data or information which are gathered from a number of sources are then all gathered to synthesize a coherent whole. On the other hand, data warehousing being time variant simply means that the data available were identified on a particular period. Lastly, data warehousing as being non-volatile means that the data is stable and when a new data is added Continue reading
Barriers To Information And Knowledge Sharing
Information and knowledge sharing has become increasingly relevant in an organization since the transfer from an industrial economy based on a hierarchical control to a global, information-driven financial system and decentralized. Information and knowledge management from human is new and very tangible as well as technological side. The problems associated with sharing information and knowledge is to be briefly informed as one of the basic activities of information and knowledge management. Changes both in community culture and in deployed technological solutions and work procedures are required by the knowledge management. This serves as an essential of interaction between technological and social subsystems which demonstrates the information that searching, storing, manipulation and sharing of enormous volume of information are enabled by IT. Moreover, the conversion of data into information with minimum time and space constraints are enabled. The crucial consequence is the fact that in information and knowledge sharing IT plays Continue reading
How Does Enterprise Computing Support Business Organizations?
Nowadays Information technology has a rapid growth. Almost every day there are new ideas to improve the performance of technology. It cannot be denied that people who lives today unconsciously depends on technology. Each task did by the people gets many help from technology. For an instance, a hand phone that help us to communicate with our colleagues, the internet that serve certain time information for us and many more technology which made our daily activity become easier. At least we can follow the technology progress so that we don’t left behind. Technology has an important role both in our lives and business. A company or organization need to know about the technology to help them to running their task in easier way. They must change their manual way to the automatic one. The automatic system will help finishing several tasks easier. There are several benefits if an organization or Continue reading
What is Consumer Data Protection and Why is it Important?
Protecting consumer data is an important and necessary part of conducting business in today’s information society. Companies that fail to do so properly can lose consumer trust which can make a major impact on a company’s success as a business. Increasingly today, companies are more frequently making headlines for not taking the appropriate steps to protect consumer data. With huge payouts to customers, fines imposed by government counsels, and damaged reputations, enterprise-level companies must find ways to stay ahead of data thieves. Consumer data must be protected at all costs and implementing policies to do so are paramount to the success of enterprise-level companies. Consumers ultimately pay the price when a company fails to protect sensitive consumer data which can lead to loss of consumer trust in the company and a shift to a more capable company. The majority of businesses today do have a tight security strategy to protect themselves as Continue reading