Application of Crypto Currency in Information Technology Sector Report

This report delves into the intersection of crypto currency and the information technology sector, with a specific focus on Microsoft. It begins with an introduction to the IT sector and Microsoft, followed by a summary of findings from a previous assignment on crypto currency, highlighting its digital nature, increasing user base, and market influences. The report then explores the application of crypto currency in IT, emphasizing the role of blockchain technology and its impact on various segments, including financial markets. It also provides recommendations to address digital disruption challenges, and improve Microsoft's effectiveness. The report concludes by summarizing the benefits of digital transformation, including enhanced customer understanding and improved business networks. The document is well-referenced with several sources.

Digital Technology and Business

Table of Contents
 Introduction
 Summary
 Conclusion from CW1
 Application of crypto currency on information technology sector
 Recommendations
 Recommendations on improving the effectiveness of Microsoft
 Challenges faced by information technology related to digital
disruption
 Conclusion
 References

INTRODUCTION
 The chosen technology sector is information technology which represents the use of
computers in order to create, process and store that helps in exchanging all the kinds
of electronic data of the company.
 Information technology is mainly used within the context of the business operations
and is a part of information and communication technology.
 It helps in storing and backup of the huge amount of data with the help of hardware
and software networks and is cost efficient(Zadeh, and et.al., 2020).
 The chosen organisation in the technology sector is Microsoft which is American
multinational company that produces computer software , electronic products and
also provide various other services .

Summary
 As per the findings from CW1 that is related to the Crypto
currency.
 The report highlighted the meaning of crypto currency which is a
digital currency that is introduced which acts as medium of
exchange with the help of smartphones and is not governed by
government or bank(Mikhaylov, 2020).
 From the analysis , the importance of crypto currency has been
highlighted as while economy is moving towards and becoming
digital and every individual is investing their money for good
purpose

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 Furthermore, it is also observed that it gives higher returns on the
money invested and is not governed by nay government body so
there is no fluctuation in the rates.
 In addition to this , it also controls the risk of fraud as it is not
governed by any local body and the money invested by the people are
safe and recorded in the public ledger account.
 It has also been observed that the users of crypto currency is
increasing rapidly and there are various marketing factors that
influence the development of crypto currency that are the tech
developers that have contributed in the development of the crypto
currency.

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 On the other hand Regulators also influence as in order to manage the crypto currency it requires various regulatory
bodies in order to become tax free and various issues that arise while investing the money in crypto currency(Bouri,
and et.al., 2019).
 The technological platform used by crypto currency is the block chain which help in recording all the transaction
involved in digital currency. It also uses the CGMinor which is one of the oldest mining software.
 Furthermore, it has been analysed form the findings that crypto has made the innovation in the market area where
there is no interference and different techniques are used by the companies in order to carry out the crypto trading.

Conclusion from CW1
 From the CW1 it can be concluded the importance of Cryptocurrency as a digital technology and its increasing
scope among the people who are investing their money.
 People are investing in the trading related to crypto currency as no restrictions and interference of government body
is involved while carrying out the transactions.
 The importance of crypto currency is also concluded which states that it gives high return on the money invested in
in the digital currency(Miraz, and Ali, 2018).
 Apart from this it also involves low level of risk as no government body is involved in carrying out the transactions.

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 Furthermore , the factors that influence the development of the crypto currency is
also highlighted which includes tech developers and regulators.
 It also highlight the various technological platforms that is adopted by that is
blockchain and CGMinor which increases the capability to run the compute and
should be highly compatible.
 With the increase in the technological advancements various companies have
adopted the use of cryptocurrency as payment of goods are: Expedia which has
adopted the digital currency in the form of Bitcoin, ON the other hand Subway,
PayPal and Shopify also uses the crypto currency(Katsiampa, Corbet, and Lucey,
2019).

Application of crypto currency on information
technology sector
 With the increase in the crypto currency and with the rise in the technological sector has to bring innovation in the
market and also led to growth of the economy.
 It is impossible to split the idea of information technology and crypto currency as it will impossible to create a
blockchain without the application of technology which would be impossible without information
technology(Cozzolino, 2019).
 It has been observed that with the growth of the Blockchain technology has resulted into affecting various segments
of the society that also included the financial market.

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 It has analysed that Blockchain technology is not just the cryptocurrencies instead it is considered as the different
technology which can be used with the help of computer system which help in providing accuracy and security,
 The Blockchain technology has decentralised data base which can be helpful in fulfilling various aspects such as in
validating the data and has the ability to change the various concepts of the information technology.


Recommendations
 Digital disruption is on of the common challenges that is faced by
the sector as it occurs when new technologies and business models
have to be adopted by the companies.
 It is important for the sector to respond to the digital disruptions as it
helps in gaining competitive advantage.
 If this situation is taking place in the environment that means that the
p[references of the consumers is shifting and it becomes necessary to
adopt those changes in order to survive in the market.

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 With the help of digital Disruption and if the companies have adopted this
concept will help to better understand the needs and preferences of the
customers and with the use of effective technologies such as big data will help
to gain more data and fulfil the demands of the market.
 It is required to analyse the need for digital changes in the company and its
benefit on the operations of the company and implement effective techniques to
make the operation of the company more effective.