Integrated Professional Skills in Digital Age
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AI Summary
This report evaluates the role of digital solutions in ongoing pandemic situations. It explores various collaborating digital tools which have helped businesses to facilitate smooth operations and working. It also discusses different security challenges associated with digital technology and how they can be mitigated to explore the benefits of digital technology. Additionally, the report analyzes the importance of crypto currency for businesses along with justifying the opinions over adopting the bitcoin in the businesses.
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Integrated Professional Skills in
Digital Age
Digital Age
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Collaboration tools and their contribution in business ...............................................................3
Implications of cloud computing in digitalisation ......................................................................4
Security challenges with technology and measures to manage ..................................................6
Analysing the importance of Crypto currency for the businesses along with justifying the
opinions over adopting the bitcoin in the businesses...................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Collaboration tools and their contribution in business ...............................................................3
Implications of cloud computing in digitalisation ......................................................................4
Security challenges with technology and measures to manage ..................................................6
Analysing the importance of Crypto currency for the businesses along with justifying the
opinions over adopting the bitcoin in the businesses...................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION
Digital technology is known as the incorporation of electronic devices for accessing,
retrieving, processing and storing data. With the continuous improvements in technology and
changing demands use of digital technology in business has improvised to great extent (Alam,
2021). It has been also observed that despite immense growth and opportunities due to digital
technology there is also an increased risk and security threats. Thus it is very essential that digital
technology risk must be managed so that their benefits and potential can be fully explored. This
report will evaluate the role of digital solutions in ongoing pandemic situations. It will also
explore various collaborating digital tools which have helped business to facilitate smooth
operations and working. This report will also discuss different security challenges associated
with digital technology and how they can be mitigated to explore the benefits of digital
technology.
MAIN BODY
Collaboration tools and their contribution in business
Collaboration tools are defined as the essential measures for contemporary businesses to
ensure the continuity in the operations amid pandemic restrictions. These tools allow firms and
individuals to communicate and interact with each other irrespective of physical barriers. Due to
pandemic restriction and new normal social changes communication with teams and resource
sharing became a major challenge. Thus organisations adopted collaboration tools for coping up
with pandemic situations. Two of the most common digital tools are as follow:
Zoom meeting app: For communicating with each other especially in remote work settings
organisations can use zoom which allows effective platform for visual collaboration. This tool
allows users to interact virtually via video conferencing. This cloud based conference service
provider aims at helping businesses by providing effective audio as well as video collaboration
along with webinars, chat services. Its flexibility and effective user interface allow employees to
use it on both mobile application as well as desktop systems (Kollolu, 2020). Thus it can be used
very conveniently by user irrespective of any physical or resource barrier. One of the biggest
advantages of Zoom app is that it can allow collaboration of huge number of people.
Organisations can even host large size collaboration events to conduct meetings with other
business ventures or investors. The easy user interface, cost feasibility and plenty of
Digital technology is known as the incorporation of electronic devices for accessing,
retrieving, processing and storing data. With the continuous improvements in technology and
changing demands use of digital technology in business has improvised to great extent (Alam,
2021). It has been also observed that despite immense growth and opportunities due to digital
technology there is also an increased risk and security threats. Thus it is very essential that digital
technology risk must be managed so that their benefits and potential can be fully explored. This
report will evaluate the role of digital solutions in ongoing pandemic situations. It will also
explore various collaborating digital tools which have helped business to facilitate smooth
operations and working. This report will also discuss different security challenges associated
with digital technology and how they can be mitigated to explore the benefits of digital
technology.
MAIN BODY
Collaboration tools and their contribution in business
Collaboration tools are defined as the essential measures for contemporary businesses to
ensure the continuity in the operations amid pandemic restrictions. These tools allow firms and
individuals to communicate and interact with each other irrespective of physical barriers. Due to
pandemic restriction and new normal social changes communication with teams and resource
sharing became a major challenge. Thus organisations adopted collaboration tools for coping up
with pandemic situations. Two of the most common digital tools are as follow:
Zoom meeting app: For communicating with each other especially in remote work settings
organisations can use zoom which allows effective platform for visual collaboration. This tool
allows users to interact virtually via video conferencing. This cloud based conference service
provider aims at helping businesses by providing effective audio as well as video collaboration
along with webinars, chat services. Its flexibility and effective user interface allow employees to
use it on both mobile application as well as desktop systems (Kollolu, 2020). Thus it can be used
very conveniently by user irrespective of any physical or resource barrier. One of the biggest
advantages of Zoom app is that it can allow collaboration of huge number of people.
Organisations can even host large size collaboration events to conduct meetings with other
business ventures or investors. The easy user interface, cost feasibility and plenty of
collaboration options make this tool highly productive and useful for the business of all sizes.
However the app needs subscription and this can make it optional and limited for the firms which
want to conduct webinars with vast number of employees or individuals. Another major
drawback of this collaborating tool is that though it permits individuals to collaborate with
limited control (Dang and et.al., 2019). For instance organisations cannot control the
inappropriate comment but in organisations which have well organised culture and discipline this
aspect does not hold any issue or problem because users are themselves aware about their
boundaries.
Google drive: This is one of the file sharing and real time collaborative tool which allow users to
share files with each other. Thus even if employees are working remotely it become feasible for
them as well as for management to access, retrieve and store the vital organisational data or files.
The best feature of this collaborating tool is that it has very easy user interface and users can
even collaborate or share files using a customised link so that more secure access can be ensured.
This drive not only stores files but can also store presentations, business videos and photos which
are secured with SSL encryption. In the pandemic when employees does not have access to
office or premises Google drive can help them access resources or documents anywhere from
the world in just a single click without any access or security challenges (Srivastava and Khan,
2018). However with increasing burden on this collaborating tool due to pandemic some of its
limitations are also imposing challenges for the organisation. Like Google drive needs internet
connection and users cannot upload documents having size greater than 5 terabyte. Thus for
organisations it can impose a challenge.
Implications of cloud computing in digitalisation
Cloud computing and storage has proven to be an essential way of maintaining business
continuity even during pandemic restrictions. Cloud computing is way of communication and
sharing in which a common network is used to share and information over servers which are
even accessible remotely (Kumar, Raj and Jelciana, 2018). The internet hosted servers allow
businesses to function effectively without any physical boundaries. Thus employees or users are
able to access the information from any place and at any instant, making the business function
more productive and quick. Cloud storage servers several benefits as well as challenges which
makes their use in business highly extensive and critical. Some of the key advantages of using
cloud storage are as follows:
However the app needs subscription and this can make it optional and limited for the firms which
want to conduct webinars with vast number of employees or individuals. Another major
drawback of this collaborating tool is that though it permits individuals to collaborate with
limited control (Dang and et.al., 2019). For instance organisations cannot control the
inappropriate comment but in organisations which have well organised culture and discipline this
aspect does not hold any issue or problem because users are themselves aware about their
boundaries.
Google drive: This is one of the file sharing and real time collaborative tool which allow users to
share files with each other. Thus even if employees are working remotely it become feasible for
them as well as for management to access, retrieve and store the vital organisational data or files.
The best feature of this collaborating tool is that it has very easy user interface and users can
even collaborate or share files using a customised link so that more secure access can be ensured.
This drive not only stores files but can also store presentations, business videos and photos which
are secured with SSL encryption. In the pandemic when employees does not have access to
office or premises Google drive can help them access resources or documents anywhere from
the world in just a single click without any access or security challenges (Srivastava and Khan,
2018). However with increasing burden on this collaborating tool due to pandemic some of its
limitations are also imposing challenges for the organisation. Like Google drive needs internet
connection and users cannot upload documents having size greater than 5 terabyte. Thus for
organisations it can impose a challenge.
Implications of cloud computing in digitalisation
Cloud computing and storage has proven to be an essential way of maintaining business
continuity even during pandemic restrictions. Cloud computing is way of communication and
sharing in which a common network is used to share and information over servers which are
even accessible remotely (Kumar, Raj and Jelciana, 2018). The internet hosted servers allow
businesses to function effectively without any physical boundaries. Thus employees or users are
able to access the information from any place and at any instant, making the business function
more productive and quick. Cloud storage servers several benefits as well as challenges which
makes their use in business highly extensive and critical. Some of the key advantages of using
cloud storage are as follows:
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Advantages: The greatest disadvantage of cloud storage is that it brings a considerable difference
in infrastructural cost. In house storage services are very costly and even require high and regular
maintenance. Contrary to this in cloud storage services maintained and installation aspect relies
on service provider and is even less costly. Cloud storage services also permits distribution of
data across bi-costal data centres so that data synchronisation and update can take place very
quickly. It helps businesses to make quick and more accurate decisions (Varghese and Buyya,
2018). With cloud storage organisations also serves the benefit of effectively managing or
avoiding management or administrative hassles. With pandemic when remote and flexible
working have become new essential, cloud storage features such as remote accessibility and
resource sharing are helping organisations to succeed. For exchange of sensitive and crucial
organisational information cloud storage service providers also gives security options such as
auditing, encryption and passwords. From business perspective innovation is key to gain
competitive advantage. Cloud services provide a platform for organisation to test and implement
various new features, application as well as products so that services can be improved.
Along with the cost efficiency cloud services also provide unlimited storage options so
that even large scale and size data can also be managed easily (Singh and et.al.,2021). Contrary
to the physical devices, recovery and back up services are much more convenient and easy in
cloud storage. Thus organisation can easily have a secure back up for the crucial data. One of the
important feature of cloud computing is its ability to automatically integrate software. Thus
businesses can easily customize their preferences and applications automatically without making
any extra efforts. The quick deployment of cloud services has also made it possible for the
organisations to instantly shift to cloud services when their working has suddenly shifted to
remote places due to pandemic.
Disadvantages: Despite multiple benefits cloud storage services also experience several
disadvantages which must be taken into consideration by businesses for sustainable performance.
Cloud computing services needs access to internet (Ali and et.al., 2018). Thus organisation may
not face any challenges regarding this but with ongoing work from home services it is possible
that some employees may not have proper internet connectivity in their areas. This may affect
file sharing and storage services across cloud network. The low bandwidth of cloud network can
also influence the inefficient utilisation of cloud services. Bandwidth related issues may even
in infrastructural cost. In house storage services are very costly and even require high and regular
maintenance. Contrary to this in cloud storage services maintained and installation aspect relies
on service provider and is even less costly. Cloud storage services also permits distribution of
data across bi-costal data centres so that data synchronisation and update can take place very
quickly. It helps businesses to make quick and more accurate decisions (Varghese and Buyya,
2018). With cloud storage organisations also serves the benefit of effectively managing or
avoiding management or administrative hassles. With pandemic when remote and flexible
working have become new essential, cloud storage features such as remote accessibility and
resource sharing are helping organisations to succeed. For exchange of sensitive and crucial
organisational information cloud storage service providers also gives security options such as
auditing, encryption and passwords. From business perspective innovation is key to gain
competitive advantage. Cloud services provide a platform for organisation to test and implement
various new features, application as well as products so that services can be improved.
Along with the cost efficiency cloud services also provide unlimited storage options so
that even large scale and size data can also be managed easily (Singh and et.al.,2021). Contrary
to the physical devices, recovery and back up services are much more convenient and easy in
cloud storage. Thus organisation can easily have a secure back up for the crucial data. One of the
important feature of cloud computing is its ability to automatically integrate software. Thus
businesses can easily customize their preferences and applications automatically without making
any extra efforts. The quick deployment of cloud services has also made it possible for the
organisations to instantly shift to cloud services when their working has suddenly shifted to
remote places due to pandemic.
Disadvantages: Despite multiple benefits cloud storage services also experience several
disadvantages which must be taken into consideration by businesses for sustainable performance.
Cloud computing services needs access to internet (Ali and et.al., 2018). Thus organisation may
not face any challenges regarding this but with ongoing work from home services it is possible
that some employees may not have proper internet connectivity in their areas. This may affect
file sharing and storage services across cloud network. The low bandwidth of cloud network can
also influence the inefficient utilisation of cloud services. Bandwidth related issues may even
cause performance and latency issues for the organisation when sharing the important business
information.
Remote working has increased the remote accessing and thus when huge number of
people simultaneously accesses the cloud then it can also result in delay and poor quality of
cloud connection (Rashid and Chaturvedi, 2019). The most prominent drawback of cloud storage
is security concerns. Though encryption provides safety and security to storage but it has higher
vulnerability to network security threats such as hacking or data breaches. Some businesses may
also experience lack of appropriate support. Most of the cloud support service providers do not
respond to calls or emails. Instead they rely upon online communities or FAQ for support. As a
result cloud storage services may have limited transparency. The remote server based working
system also leads to minimum control over system functionality. It is impossible for
organisations to operate or execute the applications locally.
Security challenges with technology and measures to manage
Remote working requirements and work flexibility has introduced variety of
collaborating tools and cloud computing applications. However it has also induced several
challenges in terms of data security and privacy. Some of the threats related to digital technology
and cloud computing is as follows:
Dynamic nature of technology: The technology and advancements are dynamic and thus it is not
possible for organisations to cope up with changes with same pace. As a result business
information technology is vulnerable to several risk factors (Tabrizchi and Rafsanjani, 2020).
The increased vulnerability towards risk as well as remote working system is making it difficult
for individuals as well as organisations to ensure that essential security measures are adopted.
Thus there is higher risk related to malware, social media related attacks, data breaching as well
as phishing.
Access of corporate information on personal equipments: With remote working organisations
are now forced to allow their workforce to use personal equipments and resources for data
exchange. It may involve some greater and significant loop holes in ensuring data security. The
outdated software for managing security can result in potential damage or theft to organisational
data (Khayer and et.al., 2020). With more employees switching to remote working the mobile
devices used by them are more prone to phishing schemes. Remote working scenarios may not
have necessary security measures.
information.
Remote working has increased the remote accessing and thus when huge number of
people simultaneously accesses the cloud then it can also result in delay and poor quality of
cloud connection (Rashid and Chaturvedi, 2019). The most prominent drawback of cloud storage
is security concerns. Though encryption provides safety and security to storage but it has higher
vulnerability to network security threats such as hacking or data breaches. Some businesses may
also experience lack of appropriate support. Most of the cloud support service providers do not
respond to calls or emails. Instead they rely upon online communities or FAQ for support. As a
result cloud storage services may have limited transparency. The remote server based working
system also leads to minimum control over system functionality. It is impossible for
organisations to operate or execute the applications locally.
Security challenges with technology and measures to manage
Remote working requirements and work flexibility has introduced variety of
collaborating tools and cloud computing applications. However it has also induced several
challenges in terms of data security and privacy. Some of the threats related to digital technology
and cloud computing is as follows:
Dynamic nature of technology: The technology and advancements are dynamic and thus it is not
possible for organisations to cope up with changes with same pace. As a result business
information technology is vulnerable to several risk factors (Tabrizchi and Rafsanjani, 2020).
The increased vulnerability towards risk as well as remote working system is making it difficult
for individuals as well as organisations to ensure that essential security measures are adopted.
Thus there is higher risk related to malware, social media related attacks, data breaching as well
as phishing.
Access of corporate information on personal equipments: With remote working organisations
are now forced to allow their workforce to use personal equipments and resources for data
exchange. It may involve some greater and significant loop holes in ensuring data security. The
outdated software for managing security can result in potential damage or theft to organisational
data (Khayer and et.al., 2020). With more employees switching to remote working the mobile
devices used by them are more prone to phishing schemes. Remote working scenarios may not
have necessary security measures.
Malware: If individuals or organisations do not give attention to computer activities or system
records then harmful software can corrupt the entire information system. These malicious
software such as ransom ware, worms, spyware or virus can act as spyware and can even disrupt
the system or particular system component.
Cloud Jacking: This threat is one of the potential risks faced by service users. In this risk
unauthorised third party can infiltrate the cloud and can manipulate the sensitive data by process
of reconfiguration. The information stored on cloud network is even accessible with third party
and other businesses. Thus it imposes greater risk of data theft and breaching incidences.
For optimising the benefits of cloud and digital services it is required that organisations
and individuals users must follow essential safety measures (Sun, 2019). The use of safety
measures will be helpful for the organisation to identify the possible theft and to take essential
steps for resolving the issue.
Strong passwords: The organisation must protect their cloud storage account with strong
passwords so that only authorised individuals can have access to the organisational data. Thus
passwords must be regularly changed and employee must be informed about need and
approaches of strong password settings. After enabling passwords users must also enable two
factor authentications so that additional protection layer can be added to prevent security
breaches.
Data encryption: To control the file access data must be encrypted so that files can be easily
protected and secured. In addition to encryption feature users must also keep regular back up of
their data so that if data is deleted or damaged then it can be easily restored.
Monitoring: To ensure that digital applications are safe and are not vulnerable to data breaches
individuals must also be informed about the data protection techniques and back up methods.
There must be regular monitoring of applications which are stored in cloud. The application
permissions and access must be regularly reviewed and managed (Tabrizchi and Rafsanjani,
2020).
Use of antivirus software and third party application: With increased risk of remote working
individual users must also use reliable antivirus software and third party applications so that
suspicious programs can be blocked and prevented from damaging the system. To control the
network traffic third party software such as firewall can also be used. Organisations can also set
up a Wi-Fi network for the visitors or guests so that they do not enter into main organisational
records then harmful software can corrupt the entire information system. These malicious
software such as ransom ware, worms, spyware or virus can act as spyware and can even disrupt
the system or particular system component.
Cloud Jacking: This threat is one of the potential risks faced by service users. In this risk
unauthorised third party can infiltrate the cloud and can manipulate the sensitive data by process
of reconfiguration. The information stored on cloud network is even accessible with third party
and other businesses. Thus it imposes greater risk of data theft and breaching incidences.
For optimising the benefits of cloud and digital services it is required that organisations
and individuals users must follow essential safety measures (Sun, 2019). The use of safety
measures will be helpful for the organisation to identify the possible theft and to take essential
steps for resolving the issue.
Strong passwords: The organisation must protect their cloud storage account with strong
passwords so that only authorised individuals can have access to the organisational data. Thus
passwords must be regularly changed and employee must be informed about need and
approaches of strong password settings. After enabling passwords users must also enable two
factor authentications so that additional protection layer can be added to prevent security
breaches.
Data encryption: To control the file access data must be encrypted so that files can be easily
protected and secured. In addition to encryption feature users must also keep regular back up of
their data so that if data is deleted or damaged then it can be easily restored.
Monitoring: To ensure that digital applications are safe and are not vulnerable to data breaches
individuals must also be informed about the data protection techniques and back up methods.
There must be regular monitoring of applications which are stored in cloud. The application
permissions and access must be regularly reviewed and managed (Tabrizchi and Rafsanjani,
2020).
Use of antivirus software and third party application: With increased risk of remote working
individual users must also use reliable antivirus software and third party applications so that
suspicious programs can be blocked and prevented from damaging the system. To control the
network traffic third party software such as firewall can also be used. Organisations can also set
up a Wi-Fi network for the visitors or guests so that they do not enter into main organisational
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network. It will reduce security breaches to great extent as external parties will not have access
to internal network (Kumar, Raj and Jelciana, 2018).
Analysing the importance of Crypto currency for the businesses along with justifying the
opinions over adopting the bitcoin in the businesses
Crypto currency refers to that currency that exist on a digital and virtual platform and
uses the cryptography in order to secure the transaction in the business. It is a type of currency
that is concerned with the digital files in the form of money and the digital signature of the
individual has been used in order to keep the files safe which is in actual concerned in the form
of money. This has been referred as the digital centralized money that keeps the money safe.
This currency can easily converted into the cash by the broker (Philavong and Phomvongsa,
2021). Whenever the crypto holder desires to convert the digital coin into the cash, it can be
easily converted. The businesses has gets the number of benefit from the crypto currency. During
the pandemic, it was hard for the organizations to attract the investment in the companies. The
concept of selling the crypto to the public has secure the investment in the companies. In order to
understand this with clearance here are the major reasons that are efficient enough in proving the
importance of crypto in the business.
Barrier breakthrough- Crypto currency such as bitcoins enables the business in order to
experience the financial transaction that has been occurred in the real and actual time. As in
dealing with the traditional pattern of financial transaction the organizations faced the large
number of issues such as, increasing the interest rate by the banks. The crypto currency has been
proven highly effective in solving such barrier for the organizations. The bitcoin has enables the
people in terms of experiencing the global access for exchanging the cash. The biggest benefit to
the business is that, they can expand their business at the global level and can maximise their
revenue and profit (Howard, 2019). As a result, the business got the numerous opportunities in
order to expand. At the time of pandemic, the bitcoin has helped large number of businesses in
terms of exploring their business at the global level. As it was hard for the companies to attract
the investors. In such situation this digital currency has proven as support system for the capital
base of the business.
Different from the competition- The companies those are using the bitcoin are far away from the
competition. As earlier, the credit cards that has been used in order to make payment has to go
through certain cross-check formalities. Using credit card in order to make payment is concerned
to internal network (Kumar, Raj and Jelciana, 2018).
Analysing the importance of Crypto currency for the businesses along with justifying the
opinions over adopting the bitcoin in the businesses
Crypto currency refers to that currency that exist on a digital and virtual platform and
uses the cryptography in order to secure the transaction in the business. It is a type of currency
that is concerned with the digital files in the form of money and the digital signature of the
individual has been used in order to keep the files safe which is in actual concerned in the form
of money. This has been referred as the digital centralized money that keeps the money safe.
This currency can easily converted into the cash by the broker (Philavong and Phomvongsa,
2021). Whenever the crypto holder desires to convert the digital coin into the cash, it can be
easily converted. The businesses has gets the number of benefit from the crypto currency. During
the pandemic, it was hard for the organizations to attract the investment in the companies. The
concept of selling the crypto to the public has secure the investment in the companies. In order to
understand this with clearance here are the major reasons that are efficient enough in proving the
importance of crypto in the business.
Barrier breakthrough- Crypto currency such as bitcoins enables the business in order to
experience the financial transaction that has been occurred in the real and actual time. As in
dealing with the traditional pattern of financial transaction the organizations faced the large
number of issues such as, increasing the interest rate by the banks. The crypto currency has been
proven highly effective in solving such barrier for the organizations. The bitcoin has enables the
people in terms of experiencing the global access for exchanging the cash. The biggest benefit to
the business is that, they can expand their business at the global level and can maximise their
revenue and profit (Howard, 2019). As a result, the business got the numerous opportunities in
order to expand. At the time of pandemic, the bitcoin has helped large number of businesses in
terms of exploring their business at the global level. As it was hard for the companies to attract
the investors. In such situation this digital currency has proven as support system for the capital
base of the business.
Different from the competition- The companies those are using the bitcoin are far away from the
competition. As earlier, the credit cards that has been used in order to make payment has to go
through certain cross-check formalities. Using credit card in order to make payment is concerned
with the checking of card and approvals by the financial institutions. The bitcoin is different
from the banking criteria. With the decentralized phase, the crypto currency allows the business
in terms of managing their funds without facing the hurdles that comes in the traditional mode of
transaction (Sartipi, 2021). All the transactions that are made with the help of the bitcoin does
not has to face the obstacles of the credit clearance. Managing of funds and transaction involves
less formalities and assures the higher security to the businesses.
Improves the payment processing- The bitcoin has enabled the businesses in terms of improving
their payment processing method and attracting the large number of customers. The customers
do not have to pay the additional high fees while using the bitcoin. It enables the real time
transaction and also assures the quick transaction to the customers. This feature of the bitcoin
sustain the customers (Anyfantaki and Topaloglou, 2018). Also, attracts the new customers as
well. The major demand of the customers is about the method of payment and the bitcoin is
focusing over this. The business gets numerous advantages with this. As increase in the base of
the customers provides the various opportunities to the firms. The profit of the business increases
and assures the higher growth.
Opinions over adopting Bitcoin for the businesses:
The bitcoin has been proven highly effective for the business as it helps in enhancing the
growth of the business. Also, it introduces new opportunities to the business. After the pandemic,
it is important for the organizations that they must become digitally centralized. The bitcoins
providing them the opportunities of higher growth. The major reason for adopting the bitcoin are
it reduces the errors while making the transaction. As it is digitalized and it is easy to create back
up if in case the data related to the transaction has been lose. The businesses have the benefit of
protecting the data and less risk of losing the transactional data. The funds of the organizations
are safe with them and along with this, it is easy to store without the risk of losing the data
(Hassani, Huang and Silva, 2019). Also, the customers gets the various opportunities for
processing the payment. It further helps in making the business superior from their competitors.
And the biggest benefit of adopting the bitcoin is that it opens up the global platform for the firm
and initiates the cash exchange at the global level without any risk of getting harm. Thus
adopting the bitcoin in business can really leads to increase the rate of success and growth for the
business.
from the banking criteria. With the decentralized phase, the crypto currency allows the business
in terms of managing their funds without facing the hurdles that comes in the traditional mode of
transaction (Sartipi, 2021). All the transactions that are made with the help of the bitcoin does
not has to face the obstacles of the credit clearance. Managing of funds and transaction involves
less formalities and assures the higher security to the businesses.
Improves the payment processing- The bitcoin has enabled the businesses in terms of improving
their payment processing method and attracting the large number of customers. The customers
do not have to pay the additional high fees while using the bitcoin. It enables the real time
transaction and also assures the quick transaction to the customers. This feature of the bitcoin
sustain the customers (Anyfantaki and Topaloglou, 2018). Also, attracts the new customers as
well. The major demand of the customers is about the method of payment and the bitcoin is
focusing over this. The business gets numerous advantages with this. As increase in the base of
the customers provides the various opportunities to the firms. The profit of the business increases
and assures the higher growth.
Opinions over adopting Bitcoin for the businesses:
The bitcoin has been proven highly effective for the business as it helps in enhancing the
growth of the business. Also, it introduces new opportunities to the business. After the pandemic,
it is important for the organizations that they must become digitally centralized. The bitcoins
providing them the opportunities of higher growth. The major reason for adopting the bitcoin are
it reduces the errors while making the transaction. As it is digitalized and it is easy to create back
up if in case the data related to the transaction has been lose. The businesses have the benefit of
protecting the data and less risk of losing the transactional data. The funds of the organizations
are safe with them and along with this, it is easy to store without the risk of losing the data
(Hassani, Huang and Silva, 2019). Also, the customers gets the various opportunities for
processing the payment. It further helps in making the business superior from their competitors.
And the biggest benefit of adopting the bitcoin is that it opens up the global platform for the firm
and initiates the cash exchange at the global level without any risk of getting harm. Thus
adopting the bitcoin in business can really leads to increase the rate of success and growth for the
business.
CONCLUSION
The above report has concluded that, Information and communication technology has
become a vital element for the digital businesses. Especially, at the time of pandemic the ICT has
been proven effective enough in solving numerous of problems in the businesses that occurs over
the digital platform. Along with this, the report has described that, collaboration tools has added
glory in the businesses at the time of pandemic. This has enable the business in order to survive
at the time of pandemic. Also, cloud computing and cloud storage has been proven beneficial for
the businesses. The report has shown the importance of the cyber security and how cyber
security protected the business at the time of pandemic. Lastly, the report has highlighted the
importance of crypto currency in the business. This has been proven effective in keeping the
money safe at the digital platform in the form of digital files.
The above report has concluded that, Information and communication technology has
become a vital element for the digital businesses. Especially, at the time of pandemic the ICT has
been proven effective enough in solving numerous of problems in the businesses that occurs over
the digital platform. Along with this, the report has described that, collaboration tools has added
glory in the businesses at the time of pandemic. This has enable the business in order to survive
at the time of pandemic. Also, cloud computing and cloud storage has been proven beneficial for
the businesses. The report has shown the importance of the cyber security and how cyber
security protected the business at the time of pandemic. Lastly, the report has highlighted the
importance of crypto currency in the business. This has been proven effective in keeping the
money safe at the digital platform in the form of digital files.
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REFERENCES
Books and Journals
Alam, T., 2021. Cloud Computing and its role in the Information Technology. IAIC Transactions
on Sustainable Digital Innovation (ITSDI). 1. pp.108-115.
Ali, O. and et.al., 2018. Cloud computing-enabled healthcare opportunities, issues, and
applications: A systematic review. International Journal of Information
Management. 43. pp.146-158.
Anyfantaki, S. and Topaloglou, N., 2018. Diversification, integration and cryptocurrency
market. Integration and Cryptocurrency Market (March 29, 2018).
Dang, L.M. and et.al., 2019. A survey on internet of things and cloud computing for
healthcare. Electronics.8(7). p.768.
Hassani, H., Huang, X. and Silva, E.S., 2019. Big Data and Cryptocurrency. In Fusing Big Data,
Blockchain and Cryptocurrency (pp. 77-98). Palgrave Pivot, Cham.
Howard, T., 2019. Crowdfunding, Cryptocurrency, and Capital: Alternative Sources of Business
Capital for Black Entrepreneurs. Congressional Black Caucus Foundation-Center for
Policy Analysis and Research, p.1.
Khayer, A., and et.al., 2020. Cloud computing adoption and its impact on SMEs’ performance
for cloud supported operations: A dual-stage analytical approach. Technology in
Society. 60. p.101225.
Kollolu, R., 2020. Infrastructural Constraints of Cloud Computing. International Journal of
Management, Technology and Engineering. 10. pp.255-260.
Kumar, P.R., Raj, P.H. and Jelciana, P., 2018. Exploring data security issues and solutions in
cloud computing. Procedia Computer Science.125. pp.691-697.
Philavong, M. and Phomvongsa, S., 2021. Cryptocurrency Business Covers the Psychological
Impact of the Business Market on the Youth Segment. Journal of Asian Multicultural
Research for Economy and Management Study. 2(2). pp.35-39.
Rashid, A. and Chaturvedi, A., 2019. Cloud computing characteristics and services: a brief
review. International Journal of Computer Sciences and Engineering. 7(2). pp.421-
426.
Sartipi, F., 2021. Publicizing construction firms by cryptocurrency. Journal of Construction
Materials. 2. pp.3-1.
Singh, R.P. and et.al.,2021. Cloud computing in solving problems of COVID-19
pandemic. Journal of Industrial Integration and Management.
Srivastava, P. and Khan, R., 2018. A review paper on cloud computing. International Journal of
Advanced Research in Computer Science and Software Engineering. 8(6). pp.17-20.
Sun, P.J., 2019. Privacy protection and data security in cloud computing: a survey, challenges, and
solutions. IEEE Access. 7. pp.147420-147452.
Tabrizchi, H. and Rafsanjani, M.K., 2020. A survey on security challenges in cloud computing:
issues, threats, and solutions. The journal of supercomputing. 76(12). pp.9493-9532.
Books and Journals
Alam, T., 2021. Cloud Computing and its role in the Information Technology. IAIC Transactions
on Sustainable Digital Innovation (ITSDI). 1. pp.108-115.
Ali, O. and et.al., 2018. Cloud computing-enabled healthcare opportunities, issues, and
applications: A systematic review. International Journal of Information
Management. 43. pp.146-158.
Anyfantaki, S. and Topaloglou, N., 2018. Diversification, integration and cryptocurrency
market. Integration and Cryptocurrency Market (March 29, 2018).
Dang, L.M. and et.al., 2019. A survey on internet of things and cloud computing for
healthcare. Electronics.8(7). p.768.
Hassani, H., Huang, X. and Silva, E.S., 2019. Big Data and Cryptocurrency. In Fusing Big Data,
Blockchain and Cryptocurrency (pp. 77-98). Palgrave Pivot, Cham.
Howard, T., 2019. Crowdfunding, Cryptocurrency, and Capital: Alternative Sources of Business
Capital for Black Entrepreneurs. Congressional Black Caucus Foundation-Center for
Policy Analysis and Research, p.1.
Khayer, A., and et.al., 2020. Cloud computing adoption and its impact on SMEs’ performance
for cloud supported operations: A dual-stage analytical approach. Technology in
Society. 60. p.101225.
Kollolu, R., 2020. Infrastructural Constraints of Cloud Computing. International Journal of
Management, Technology and Engineering. 10. pp.255-260.
Kumar, P.R., Raj, P.H. and Jelciana, P., 2018. Exploring data security issues and solutions in
cloud computing. Procedia Computer Science.125. pp.691-697.
Philavong, M. and Phomvongsa, S., 2021. Cryptocurrency Business Covers the Psychological
Impact of the Business Market on the Youth Segment. Journal of Asian Multicultural
Research for Economy and Management Study. 2(2). pp.35-39.
Rashid, A. and Chaturvedi, A., 2019. Cloud computing characteristics and services: a brief
review. International Journal of Computer Sciences and Engineering. 7(2). pp.421-
426.
Sartipi, F., 2021. Publicizing construction firms by cryptocurrency. Journal of Construction
Materials. 2. pp.3-1.
Singh, R.P. and et.al.,2021. Cloud computing in solving problems of COVID-19
pandemic. Journal of Industrial Integration and Management.
Srivastava, P. and Khan, R., 2018. A review paper on cloud computing. International Journal of
Advanced Research in Computer Science and Software Engineering. 8(6). pp.17-20.
Sun, P.J., 2019. Privacy protection and data security in cloud computing: a survey, challenges, and
solutions. IEEE Access. 7. pp.147420-147452.
Tabrizchi, H. and Rafsanjani, M.K., 2020. A survey on security challenges in cloud computing:
issues, threats, and solutions. The journal of supercomputing. 76(12). pp.9493-9532.
Varghese, B. and Buyya, R., 2018. Next generation cloud computing: New trends and research
directions. Future Generation Computer Systems. 79. pp.849-861.
directions. Future Generation Computer Systems. 79. pp.849-861.
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