06Jun

The bloom began falling off the blockchain rose a few years ago, as companies conflated the technology with the cryptocurrency frenzy. In a handful of sectors, however, companies continued to explore how blockchain could benefit them.

Now organizations in sectors well beyond the pioneers in finance are investing in blockchain to protect data, decentralize processes and facilitate asset and data transfer.

“It’s an appealing model for many sectors, promising transparency and trust as it helps make value exchange possible,” says a SmartBrief article. Although focusing mostly on the financial sector, which is where blockchain found its earliest uses, the article mentions the steady creep of the technology into other industries and even slowly becoming commoditized as “blockchain as a service.”

“Amazon and Microsoft both currently offer BaaS, and enterprises as well as startups are taking advantage of it,” says SmartBrief. Citing a Gartner survey of CIOs, the article notes that “60% expected their firms to start or continue adopting blockchain-based technology between now and 2023.”

Earlier this year, Deloitte issued a blockchain trends report. Besides describing the evolving technology and the features each different approach offers, Deloitte found that some of the fastest growth in blockchain investments was coming in such unexpected industries as professional services – a sector that includes the staffing and employment industry – and energy and resources. In each of those 38% and 43% respectively of the firms surveyed were spending at least $5 million each on blockchain initiatives.

Not unexpectedly, the largest percentage of businesses investing in blockchain were in technology, media and telecom.

“More organizations in more sectors — such as technology, media, telecommunications, life sciences, health care, and government — are expanding and diversifying their blockchain initiatives,” Deloitte observes.

Like the financial sector, life sciences and health care deal with highly sensitive medical data they must protect or face legal consequences. Those two sectors are where blockchain “can have a more immediate and meaningful impact,” says Deloitte. They are in an industry, the report explains, “In which data transparency, speed of access, immutability, traceability, and trustworthiness can provide the information necessary for life-altering decisions.”

Interestingly, Gartner assigns a similar importance – not life or death, but still vital – to blockchain’s value to media.

“Organizations and governments are now turning to technology to help counter fake news, for example, by using blockchain technology to authenticate news photographs and video, as the technology creates an immutable and shared record of content that ideally is viewable to consumers,” Gartner said.

As companies increasingly see how blockchain can work for them, and, as SmartBrief observes, with issues of interoperability and standards being worked out and “well-known financial firms and governments” becoming ever more involved, blockchain is fast becoming “more than a passing trend.”

Photo by Maxim Hopman on Unsplash

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To Tech Pros Everywhere: We Are Grateful!

You’re reading this because all over the world IT professionals are at work keeping the internet’s vast array of routers, servers, switches and other equipment functioning.

Unless you work for a telecom or one of the organizations that plays a role in keeping the internet operating, chances are you’ll never meet these network engineers and system administrators.

But you know the guy or gal who fixes your computer problems when you call. Even if you’ve never met them in person, you’ve come to rely on them to be there when you say “Help!”

These are the unsung tech heroes we recognize today on IT Professionals Day. And never before have we all had so much to thank them for.

When the COVID pandemic closed offices across the world, IT professionals made it possible for employees to work from home.

Their round the clock work keeps us in touch with friends and family, enables students to attend class remotely, and makes it possible for us to consult a doctor by video from home.

As SolarWinds, founder of National IT Pro Day in 2015, says, “The success of organizations during the reality of an unprecedented global pandemic is due in large part to IT pros’ preparedness and ability to adapt and manage through substantial change. We didn’t know it at the time, but all your training, ideas, and skillsets were leading up to this year’s events, which saw entire organizations rely on IT teams to keep their business up and running.”

We at Green Key Resources join with the millions of others in saying thank you to all IT professionals. We are grateful for everything you do. And, to quote SolarWinds, “If we’ve learn anything from our IT pros this year, it’s they’re ready, willing, and able to tackle any challenge head-on.”

Photo by Hunters Race on Unsplash

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The Pandemic Is Altering Data Privacy Expectations

A recent EY Global Consumer Privacy Survey found that the data privacy expectations of consumers are shifting due to the pandemic and the correlating increased reliance on technology in the last year.

The survey was created to help organizations better understand how consumers’ data privacy needs are evolving by examining their attitudes towards sharing personal data and by analyzing the way their behavior is changing.

The survey and the results report addressed three critical questions and guidance for how businesses can navigate these changes:

Question 1: How do consumers expect organizations to handle their data?

The findings – deliver certainty the consumers crave. The survey found that more consumers are concerned about the security of the data they share with a company more than the actual data that is shared.

Yogen Appalraju, EY Canada Cybersecurity Leader summed the finding up saying, “Organizations that want to maximize the collection of personal data need to focus on establishing their data protection and privacy capabilities. Those that cannot provide assurance that data is collected and stored safely may start to see customers go elsewhere.”

Question 2: What do consumers want in exchange for their data?

The findings – tailor offerings to build trust. Consumers want to see a fair exchange of the value your product provides with the data they’ve shared. For example, the survey found that half of millennial consumers say they’re willing to share their browser search history with a large tech company in exchange for a more tailored and personalized online experience. However, older generations like baby boomers believe the lack of control over third-party access to data decreases the amount of trust they place in an organization.

Question 3: How is data privacy shifting for a post-pandemic world?

A unique shift in attitude towards data sharing comes as a direct result of the COVID-19 pandemic. As economies start to reopen, many businesses, schools, and organizations may require the collection of personal information to ensure health and safety. Half of the consumers polled in the survey believe the pandemic has made them more willing to give up personal data if they know it is contributing to research and/or overall community wellness.

Photo by Matthew Henry on Unsplash