Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements.
Companies across most industries embrace Digital Transformation as technology shifts from being a business enabler to a business driver. Digital Transformation opportunities include both Operational Improvement and Growth Driver initiatives, where the latter are primarily driven by improved Customer Experience.
Cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.
Globally, 1.7 billion people do not have a bank account, and policymakers struggle to provide affordable, safe and accessible financial services to the unbanked population. 57% (4.388 billion) of the world now has access to the internet and a further 67% (5.112 billion) have access to mobile devices, up 100 million (2%) in the past year
DeFi or Decentralized Finance is inspired by Blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.
Six Building Blocks of Business Transformation
Strategy and Innovation
Focus on the future value and drive fueled by experimentation.
Agile, flexible, and collaborative processes and capabilities that follow a strategy.
Customer Decision Journey
In-depth analysis and ethnographic research to understand how and why customers make decisions.
Support core functions and rapid development.
Reinvented processes and customer journeys through automation and agile processes.
Data Science and Analytics
Usable and relevant customer analytics tied to goals and strategies.