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Posted: February 7th, 2023
Discussion 1
This week’s discussion centers around the concept of Blockchain. There is still much confusion regarding what Blockchain is and what it is not. Please discuss your explanation of Blockchain to include why it has been gaining so much popularity.
Discussion 2
The two main objectives of IT governance are: adding value to the business through information technologies and mitigating the risks associated with them. How does strategic alignment, value delivery, resource management, and performance measurement change when considering different global environments?
Blockchain is a decentralized, digital ledger of transactions that is distributed across a network of computers. Each block in the chain contains a record of multiple transactions and is linked to the previous block, creating a chain of blocks that cannot be altered without changing all subsequent blocks. This makes blockchain secure and transparent, as all participants in the network can see and verify every transaction.
Blockchain has gained popularity due to its potential to disrupt a variety of industries by enabling secure and transparent transactions without the need for intermediaries. This can lead to increased efficiency and cost savings, as well as enabling new business models and opportunities for innovation.
In terms of IT governance, the objectives of adding value to the business and mitigating risk must be carefully balanced in different global environments. In some countries, regulations may be more stringent, requiring greater emphasis on risk management. In other countries, there may be more focus on innovation and the use of technology to drive business growth.
Strategic alignment in different global environments requires a clear understanding of the local market, regulatory requirements, and cultural differences. Effective value delivery must take into account the unique needs and expectations of different markets, and resources must be managed effectively to meet these needs. Performance measurement must be adapted to each market to ensure that objectives are being met and that value is being added to the business.
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