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What You Should Know About Blockchain

Saturday, 04 June 2016 16:46 Admin CIO2CIO
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A blockchain is a distributed data structure that makes it possible to create a digital ledger of transactions shared among a network of computers.
 
It uses cryptography to allow each participant on the network to manipulate the ledger in a secure way without the need for a central authority.
 
Once a block of data is recorded on the blockchain ledger, it’s extremely difficult to change or remove. When someone wants to add to it, participants in the network — all of which have copies of the existing blockchain — run algorithms to evaluate and verify the proposed transaction. If a majority of nodes agree that the transaction looks valid — that is, identifying information matches the blockchain’s history — then the new transaction will be approved and a new block added to the chain.
Last Updated on Saturday, 04 June 2016 19:01
 

Say Hello to Facebook Bank

Sunday, 27 April 2014 22:56 Admin CIO2CIO
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According to the Financial Times, Ireland’s central bank is about to approve Facebook as an e-money institution, that will allow it to offer consumers the ability to store money and pay others. Facebook is also said to be considering partnerships with start-ups that offer international money transfer services online and via smartphones. But it is unclear whether people will trust Facebook to handle their money, given lingering concerns about data privacy and personal data mining by the social media network to boost advertising on the site.

At a time when traditional banks are unpopular with many customers and are being hit by more and more regulations, there is an opportunity for internet companies to take on certain service lines that banks provide.
 
Banks are also struggling with mostly legacy IT that makes it difficult to quickly react to market changes. Additionally several large banks have been hit by major IT failures lately, that have further dampened an already fragile image.
Last Updated on Sunday, 27 April 2014 23:02
 

Big data: Big hype but Some hope

Sunday, 08 December 2013 21:25
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Analysts have told us time and again that the three key trends in IT are big data, mobility and cloud. You know that already, you have heard it in so many conferences; you also know that your investment in the three trends combined do not represents a big portion of your IT budget. 

But today we will talk about big data only. Recently in an attempt to help demonstrate how big data is working for companies around the world CIO2CIO asked the heads of marketing in all large international IT companies operating in the Middle East to help us locate some of their big data customer success stories in or outside the region. Unfortunately more than eight weeks later we can confirm that there has not been a single answer. And even when you search the web for big data at work stories you will find very few real stories. Why is this the case? What happened to all the big data early adopters, how come they have nothing to show for their investments? And why are analysts continuing to put big data as a top priority for CIOs.
Last Updated on Sunday, 08 December 2013 22:20
 

Common Sense Beats Trends

Thursday, 08 August 2013 17:51 Admin CIO2CIO
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They told you time and again that the four most important trends in IT are cloud, mobility, social and big data. You may or may not have always agreed. The good news is that you are not alone according to a recent Forester Research CIO survey.
 
ERP applications often run the core operations of companies around the world, but enterprises are placing a higher priority in 2013 on other types of software, in particular BI, according to a new Forrester Research survey. "BI leads the adoption priority list, both in terms of expanding or upgrading existing installations and new implementations," Forrester analyst Stefan Ried wrote in the report, which is titled "Ten Myths And Realities Of The Software Market In 2013."
 
The notion that public social networks "have entered the enterprise" is another "myth," according to Ried. "Not quite right. While employees value the open collaboration of social technology, they aren't moving collaboration to public social networks like Facebook and Twitter." Nearly half of the companies Forrester surveyed "are concerned about corporate collaboration issues and are keen to keep Facebook and Twitter streams clearly separated from corporate applications," while only 14 percent want to integrate them, Ried wrote.
 
Last Updated on Saturday, 18 January 2014 11:28
 

What CIOs Need to Know About NFC

Wednesday, 15 August 2012 21:52 Admin CIO2CIO
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Near Field Communications has been lauded as the technology that will take mobile payments to the mainstream. But the truth is NFC is good for so much more. Let us take a look at a number of innovative ways NFC will be used in the near future by businesses, marketers, governments and consumers.

You are probably somewhat familiar with NFC technology and when you hear the term NFC, the first thing that comes to mind is perhaps mobile payments. That's understandable, as NFC and mobile payments have been grouped together by the media and the analysts.
But the truth is NFC has a lot more to offer than just mobile payments. In fact, it will very likely be years before any sort of NFC-based payment system goes mainstream, according to a recent report from Forrester Research.

Last Updated on Wednesday, 15 August 2012 22:17
 

The Next CIO Nightmare - Shadow IT

Saturday, 18 January 2014 11:01 Admin CIO2CIO
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When frustrated end users circumvent the IT department and start using SaaS applications without permission, IT pros complain about the plague they call "shadow IT.” But it seems that some IT professionals are also operating in the shadow according to a recent report entitled “The Hidden Truth behind Shadow IT,” which is the result of collaboration between Frost & Sullivan and McAfee. The survey asked 300 IT professionals and 300 line-of-business employees whether they used SaaS applications in their jobs without official approval. Eighty percent admitted they did, with only 19% of the business employees and 17% of IT claiming to be innocent.
 
In fact, despite the barriers to cloud computing, 93 percent of business units—from sales to operations to marketing and more— say they are leveraging the cloud for services they need to conduct business, according to another survey by cloud IT operations specialist 2nd Watch. "What really surprised us was how much shadow IT was going on," says Matt Gerber, executive vice president of 2nd Watch. "It's more than we thought, and there's less involvement from central IT than we thought." 2nd Watch conducted its 2013 Cloud Services Adoption Rate Survey in December 2013. It surveyed 133 U.S.-based respondents from organizations of all sizes, all with titles of CIO, executive vice president, IT manager or developer. The respondents represented a wide range of industries, with the highest percentage in high tech (37 percent). The survey found that just 43 percent of IT departments plan to develop a cloud services brokerage model to keep up with demand. Those IT departments planning to deploy a cloud services brokerage model want to deliver between 75 percent and 100 percent of cloud services to their enterprise business units by 2016.
Last Updated on Saturday, 18 January 2014 11:47
 

Is it the End for BlackBerry in the Enterprise?

Saturday, 05 October 2013 12:53 Admin CIO2CIO
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Enterprise customers of BlackBerry’s smartphones and enterprise management software should find alternatives to the financially troubled company’s products over the next three to six months, according to a recently released Gartner report.
 
BlackBerry responded with a statement, saying: “We recognize and respect external parties' opinions on BlackBerry's recent news. However, many of the conclusions by Gartner about the potential impact of a sale or other strategic alternatives, are purely speculative." 
 
The Waterloo, Ontario company, however, has not fared  well during recent months. A brief timeline of its recent troubles include the disclosure of plans to lay off 4,500 of its 12,500 employees; a loss of $965 million in the second quarter of fiscal 2014; and a decline in revenue by 49% in fiscal Q2 from the previous quarter. Meanwhile, the company’s sale to Fairfax Financial Holdings of Toronto for $4.7 billion is pending.
Last Updated on Saturday, 18 January 2014 11:27
 

Virtual or Real Personal Assistant?

Saturday, 16 February 2013 10:19 Admin CIO2CIO
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Apple's Siri feature is said to be a "virtual personal assistant," one that is proactive and intelligent. The truth is that Siri is none of those things. Siri is a user interface that, mostly, makes it fun and easy to do things like get directions, find out information, set timers and make restaurant reservations. It has impressive human-like voice interaction. You talk in regular language, and Siri responds in natural-sounding language, even appearing to chit-chat and crack jokes with you. It's cool, but ultimately it's just a parlor trick.
 
Google Voice Search, which accesses the awesome Google Knowledge Graph, is another impressive user interface that's typically and incorrectly labeled a virtual personal assistant.

Last Updated on Saturday, 16 February 2013 10:34
 

The Real Challenges of the True CIO

Thursday, 17 May 2012 06:34 Admin CIO2CIO
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In a recent discussion with a small group of leading CIOs in Europe, they shared what they believe to be the ‘real’ top challenges for the ‘true’ CIO. You will be thinking of security, talent retention, dealing with shrinking budgets or your next SAP upgrade. But no, they think of these as tactical or operational challenges, they recognize them, they deal with them but their real challenges sit a couple of notches higher. They are not about doing something they are all about finding the right balance. Here are their top challenges:


The first challenge is really determining the depth of internally created IT versus acquired or purchased solutions. This question applies mostly to architecture as well as software, business software to be more specific. There is a general perception that if you use standard off the shelf architecture, solutions and business software (ERP, CRM, core banking, telecoms billing, etc) you could be easily copied, your competitors can follow you, you won’t have a competitive advantage or differentiation. Some organizations tend to answer this question by creating their own layers of business software.

Last Updated on Thursday, 17 May 2012 06:42
 


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