Information Technology Importance in Strategic Planning Essay

September 10, 2022

Order ID:89JHGSJE83839

Style:APA/MLA/Harvard/Chicago

Pages:5-10

Instructions:

Information Technology Importance in Strategic Planning Essay

Respond to below two discussions seperately. Each 150 words. INSTRUCTIONS Please make your response posts substantive. A substantive post will do at least TWO of the following: Ask an interesting, thoughtful question pertaining to the topic Provide an outside source (for example, an article from the UC Library) that applies to the topic, along with additional information about the topic or the source (please cite properly in APA) At least one scholarly source should be used in the initial discussion thread. Be sure to use information from your readings and other sources from the UC Library.

Use proper citations and references in your post. DISCUSSION 1 Blockchain is the distributed database that maintains a list of records. These records are called blocks. Each block contains the history of every block that came before it down to the second it was added like a chain. Hence blockchain.

Information Technology Importance in Strategic Planning Essay

This whole operation of blockchain is end to end encrypted every transaction is linked to a unique cryptographic signature that is easy to verify and nearly impossible to falsify because blockchain is maintained by a scalable network of computers which are called nodes worldwide which are referred to as a blockchain network.

The network of computers maintains this file which is an append-log and the file itself and all these computers around the world that are coordinating with one another to make updates to the file in a lockstep fashion. Usually to verify the transaction from person to person there is a centralized bank which verifies the log and keep its record.

Information Technology Importance in Strategic Planning Essay

Whereas blockchain is decentralized and each log of the transaction is verified and keeps its copies in multiple nodes worldwide at the same time and uses both private and public keys for the encryption which is means it uses two keys for one lock and as it is decentralized and blockchain is public anyone can view it.

Hence there is no need of banks to verify and no central database in a particular location to hack it. We have to understand nothing on the internet is completely unhackable. Bitcoin is one such blockchain arguably the first and largest of all the different blockchains.

With Bitcoin widely accepted and traded around the world hundreds of blockchains emerged into the exchanges. Many of them failed and very little survived, though all the blockchains are decentralized some are trying to bring centralized blockchains but it defeats the purpose.

Information Technology Importance in Strategic Planning Essay

The differences in between these blockchains are using different hashing algorithms, different types in transactions authentications, Varying transaction times, different mining techniques Some of the block chains are Bitcoin is decentralized and uses peer to peer network.

Ethereum is decentralized platform that runs smart contracts. Ripple is a real-time gross settlement system, Currency exchange and remittance network.Litecoin is similar to Bitcoin. It uses peer to peer network and open source software project released under the MIT/X11 license.

Information Technology Importance in Strategic Planning Essay

References : Blockchain Revolution: How the Technology Behind Bitcoin and Other Crypto currencies Is Changing the World (Tapscott, Don, Tapscott, Alex) DISCUSSION 2 Cryptocurrencies A cryptocurrency incorporates protocols and even other extremely complex systems that are coded for the encryption of sensitive data transfers hence; ensuring secure exchange units. Consequently, it is believed that there is no government manipulation which is associated with the transaction of cryptocurrencies.

On the cryptocurrencies is ethereum, which has been indicated to be an alternative of bitcoin (Reiff, 2020). Therefore, ethereum incorporates decentralized software that allows the use of smart contracts hence; running without downtime. Moreover, it integrates a platform-specific cryptographic token, which is used for running the concept.

Information Technology Importance in Strategic Planning Essay

Most developers make use of ethereum to run their applications, and it can make purchases on other currencies. Another cryptocurrency is Ripple (XRP), which is considered to be a global settlement network issuing quick and reduces costs on international payments (Reiff, 2020).

Therefore, Ripple is majorly established for settling cross-border payments while ensuring that there is the preferred privacy. Both ethereum and Ripple are involved in the exchange of currency through the incorporation of tokens. There is usually an evaluation of the symbols by analysts so that they can rank the coins as required by the person doing the transaction.

Ripple is said to speed up the confirmation of purchase, although it does not offer a specific time (Martucci, 2018). On the other hand, ethereum usually enforces the performance of an individual transaction, and it emphasizes on doing away with agreements.

Information Technology Importance in Strategic Planning Essay

However, there is a way to ensure that refunds are done on a particular part in case a violation of agreement happens. I do not have any experience of using cryptocurrencies, although the aspiration is there because I am informed of their different types and their usefulness. Reference Martucci, B. (2018, May 23).

What is Cryptocurrency – How it Works, History & Bitcoin Aternatives. Retrieved May 10, 2020, from moneycrashers.com: https://www.moneycrashers.com/cryptocurrency-history-bitcoin-alternatives/ Reiff, N. (2020, January 8). The 10 Most Important Cryptocurrencies Other Than Bitcoin. Retrieved May 10, 2020, from investopedia.com: https://www.investopedia.com/tech/most-important-cryptocurrencies-other-than-bitcoin

RUBRIC

Excellent Quality

95-100%

Introduction

45-41 points

The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.

Literature Support

91-84 points

The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.

Methodology

58-53 points

Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.

Average Score

50-85%

40-38 points

More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.

83-76 points

Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.

52-49 points

Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.

Poor Quality

0-45%

37-1 points

The background and/or significance are missing. No search history information is provided.

75-1 points

Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.

48-1 points

There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met