– It is undeniable: in this information age, cash is becoming more and more unfavorable to regulators. Indeed its alternative – the digital currency – has all the advantages that regulators want: real time settlement, little transaction cost, absence of counterfeit money and reliable traceability (which renders tax evasion and money laundering near impossible). However, a lack of suitable and practical technology has been holding central banks back from realising these benefits, and for the most part of the decade we have only seen private application of the digital currencies. It was not until the rise of the cryptocurrency (a subset of digital currency) that central banks really started to consider adopting an official government-backed digital currency – one that utilise the innovative model of distributed ledger
Those of you familiar with this blog know that a recurring theme in our posts is planning ahead and being proactive. We like to think that strategy is a living process in organisations and not a one off and random act. Well sadly in many, and especially in big organisations, planning ahead strategically can be sadly lacking.
Let us examine a simple fact, way back in 2007, Microsoft announced that it would end support for XP that much loved but inherently insecure beast of an operating system that we all love and hate at the same time. They gave us all 7 years, yes 7 years, to migrate to something newer, better and more secure. The end date is 8th of April – after that, support will require penal license fees. Is the world ready? In a word, No.
To continue reading this post, please visit our sister blog at: ‘ATMs, Microsoft and the End of Life’