Zero Outage and Blockchain, the future of finance and technology
Blockchain made easy
For those of you who know very little on the subject, there are a few details which are important to get you started. Blockchain has three main roles, the first one is the birth of the online currency, Bitcoin (an online peer to peer currency). Secondly, the focus on smart contracts, digital finance and trading, which serve as the groundworks of future finance. The final step will be to contribute and improve technology in healthcare, government, logistics and transport services. Different stages are at different levels of progression, but these are the fundamental guidelines. We also have to keep in mind that with every invention there are potential risks and dangers.
Blockchain runs solely on a digital platform, there is no physical component (apart from the servers which brings it to life). This implies that all processes will be online and the ecosystem relies on a stable and secure connection. In the year 2014, bitcoin wallet provider Blockchain.info experienced a database outage. This created doubt in people who placed their trust into storing funds into a digital wallet. “What now?” people would ask, “How do I get back my online funds without being a tech mastermind?”. Well the answer to this is very simple, you don´t have to be a tech genius nor a programmer….all you need is Zero Outage.
Blockchain is responsible for the movement and secure flow of smart contracts, digital rights management and a public record of all online funds exchanged. Meaning a very high portion is vulnerable as soon as a potential outage is in sight. Zero Outage is the solution to the disruptions which any IT service provider requires. Setting an industry standard is essential for Blockchain to grow and prosper. A safe and secure platform with consistent processes and highly trained staff will lead to a more effective network.
At the Zero Outage Industry Standard (ZOIS) we strive for our partners to grow and step up the evolutionary ladder of technology. Therefore we wish to spread our culture and make it possible for companies with great potential to share a common vision. To fulfill this vision we placed four elements at the center; People, Processes, Platforms and Security. People who are highly skilled, certified and have quality in their DNA. Processes standardized to their best, with high output and a minimized risk of execution. Platforms with high standards, cutting edge technology and high availability to ensure the best quality. This represents what the Zero Outage Industry Standard Association wants to deliver to all their partners.
Let’s not forget another important principle, IT-security, which is usually overlooked and taken for granted. However, IT security is the backbone of any IT-delivery service and holds a great weight in your customer satisfaction.
Speaking of security, what if we were to imagine a future where the Zero Outage Industry Standard and Blockchain are combined? I believe if we look at the greater picture, we would now have a new global standard of finance, with industry leading technology. With the future imagined in this way, we are opening new paths of development, and a new level of satisfaction to our clients. Of course the technical part is still going to be a drawback, but what matters is the strategy.
Becoming a member of the Zero Outage Industry Standard Association will mean for any company that they are now at the top of the industry standard along with the big players such as Hewlett Packard (HP), IBM, CISCO, DELL EMC and many more. The question is, when will your company decide to join us? Will it be after another cyber-attack? Or will you become part of ZOIS in order to prevent the next big attack?
The information contained in this document is contributed and shared as thought leadership in order to evolve the Zero Outage Best Practices. It represents the personal view of the author and not the view of the Zero Outage Industry Standard Association.