Tag: blockchain technology

As technology accelerates and sustainability gains global attention, supply chain management is becoming a crucial driver of business success. In South Africa, unique challenges such as rising costs and resource constraints are inspiring innovation through digitisation and sustainability.

Blockchain technology goes by many names; game-changer, disruptive, futuristic and impenetrable. Names all well-deserved and valid. Initially associated with cryptocurrency, blockchain has well and truly come into its own and now includes health, transportation, disaster recovery and importantly, supply chain management.

While the African banking market has seen withdrawal of global banks over the last 5 years, the opportunity for localised banking has seen the opposite, driven by the expansion of African banking groups into the continent, led mostly by South African, West African, and Northern African banks.

The world is undergoing a digital revolution, and its impact is being felt across various industries. One sector that has experienced significant transformation is global relocations. In this era of technological advancements, companies have harnessed the power of technology to revolutionise the way people relocate around the world.

During its formative years, blockchain technology became synonymous with the advent of cryptocurrency. Today, its use cases have transcended the world of finance, expanding into sectors such as retail. In Africa, its application in payment technology has demonstrated blockchain’s ability to revolutionise several touchpoints from supply chain to final sale.

Although the world of crypto-related financial services is in turmoil at the moment, its underlying blockchain technology has a vital role to play in the future of banking and other financial services. In the world of finance, we are currently seeing real consensus between the traditional and the Web3 players that the combination of secure private banking, blockchain technology and Bitcoin custodianship is the future and holy grail of banking.

Ransomware attacks have dominated the headlines over the last two years and will continue to control the cybersecurity agenda going into 2023. While ransomware gangs continue to be successful in extorting money from businesses, those that do pay demands are financing the ransomware industry and further crime.

Does the current model of the traditional regulatory and statutory audit still make sense in the changing business context? These audits performed by independent and external auditors in line with relevant laws and regulations, require the auditee to submit a set of reporting information, and the auditor to produce their report annually in line with the legislated timelines and to meet stakeholder needs.

Don’t ditch the digital or the innovation, just refine how security fits into the equation. The total number of internet users is expected to reach 5.3 billion by 2023 and the total number of devices and connections per person is anticipated to reach 3.6 globally by the same year, according to Statista.

Online shopping is expected to reach $1 trillion by 2022, this is according to a report by Adobe’s e-commerce division. To gain a competitive advantage and to exceed customer expectations, businesses need to discover the emerging trends in ecommerce and adopt current trending technologies in software.