ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Friday Dec 15th 2017
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

ISACA Praises Blockchain Technology

By

Dan

Cummings

WriterETHNews.com

ISACA believes that blockchain technology can have a significant impact on the corporate world.

On June 15, 2017, global information technology professional association ISACA (formerly known as the Information Systems Audit and Control Association) released guidance advocating the use of blockchain technology for business applications. In its recently released tech brief, “Blockchain Basics,” the association labels the technology as a “21st century variant of the transaction ledger,” a tool that has aided society since ancient times and which now plays a key role in record keeping and financial markets. As a result, ISACA believes that, due to its ability to facilitate efficiency and integrity in key industries, blockchain technology will have a large impact on global business systems. Ron Hale, chief researcher at Cooraclare Institute and former Chief Knowledge Officer (CKO) at ISACA, believes these features have inspired an increase in demand for the technology throughout the corporate world.

“Of all the emerging technologies we’re currently seeing, blockchain has the potential to have the biggest impact on businesses and society at large,” Hale said. “Enterprises are increasingly looking at how they can adopt this technology and revolutionize how they deliver products and services—in fact, LinkedIn data show job postings requiring blockchain skills have tripled in the past year.”

To support its research, the association relied on data from professional service company Accenture, which found that blockchain technology could reduce costs across multiple segments of business such as central finance reporting (70 percent), central operations (50 percent), and compliance (50 percent).

Despite noting that average investments in blockchain projects in 2017 are projected to cost close to $1 million, the association feels that blockchain technology has risks that business professionals should consider such as scalability, transaction costs, uncorroborated development, vulnerabilities, and access control. As a result, the organization recommends that companies looking to capitalize upon blockchain ask the following five questions before making an investment into the technology:

  1. How does blockchain compare to the current ledger infrastructure? Do enough potential savings exist to justify the investment?
  2. Does our organization have the capabilities required to innovate alongside an emerging technology?
  3. Does joining a blockchain collaborative such as Hyperledger make sense for our organization or should we leverage a commercial implementation?
  4. How do we manage the cost per transaction when using a particular blockchain? Is this a fixed price or does it vary with volume?
  5. Does our organization’s industry group have a blockchain established or on the horizon?

In addition to the Blockchain Basics tech brief, which is available for free on its website, the association offers for purchase a detailed research report, Blockchain Fundamentals: An Inside Look at the Technology with the Potential to Impact Everything.

Dan Cummings

Dan is a Los Angeles-based musician, writer, and veteran passionate about science and technology, current events, human rights, economic impacts, and strategic calculus.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest ISACA, Blockchain Basics or other Ethereum technology news.