The two main objectives of IT governance are: adding value to the business through information technologies and mitigating the risks associated with them|Course hero helper

Posted: February 7th, 2023

Discussion 1

This week’s discussion centers around the concept of Blockchain. There is still much confusion regarding what Blockchain is and what it is not. Please discuss your explanation of Blockchain to include why it has been gaining so much popularity.

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Discussion 2

The two main objectives of IT governance are: adding value to the business through information technologies and mitigating the risks associated with them. How does strategic alignment, value delivery, resource management, and performance measurement change when considering different global environments?

SOLUTION

Blockchain is a decentralized digital ledger of transactions that are recorded and verified through a secure and transparent network of nodes. The transactions are organized into blocks and linked together in a chain, hence the name Blockchain. This creates a tamper-proof and permanent record of all transactions, making it an attractive technology for applications that require transparency, accountability, and security.

The popularity of Blockchain has been driven by its ability to provide secure and transparent transactions without the need for intermediaries, making it ideal for various industries such as finance, supply chain management, and digital identity verification. The decentralized nature of the technology also makes it resistant to tampering and fraud, making it a trustworthy platform for conducting transactions and storing data.

As for the IT governance objectives, when considering different global environments, the strategies for achieving strategic alignment, value delivery, resource management, and performance measurement may need to be adapted to local regulations, cultural norms, and infrastructure. For example, in regions with less developed technology infrastructure, resource management may require more investments in physical infrastructure such as network connectivity. On the other hand, in regions with strict privacy regulations, value delivery may require additional measures to ensure data protection and security.