Print.IT - issue 49

PRINT.IT 29 www.printitmag.co.uk Your Partner in Business Technology Unique 24/7 service portal where customers can request an engineer or order supplies Direct-tec are an independent provider of high quality innovative print and document centric solutions incorporating products from some of the world’s leading technological brands for businesses of all sizes. But what really makes us different is the exceptional level of account management combined with excellent and efficient customer service. Our mission is to consistantly provide our customers with cutting edge technology to directly impact on operational efficiency and costs. Contact us today to see how we can start to save you money and improve business efficiency. [email protected] Tel: 01959 568300 BUSINESS PROCESSES immutable, how can the ‘right to be forgotten’, a mandatory requirement in the EU’s General Data Protection Regulation (GDPR), be applied? There are also concerns that individuals making property transfers or declaring wills on a permissionless blockchain conflicts with how institutions manage public records. These anomalies still need to be ironed out. A maturing platform Ultimately, there is no doubt that blockchain is a disruptive technology that has the potential to transform industries. However, despite recent momentum, it is a technology that isn’t (yet) particularly easy to use for many businesses. The platforms are still maturing and like many other software platforms they are subject to bugs and operational errors. The potential risks of being a blockchain pioneer are higher than other technology adoption waves because blockchains typically apply to monetary transactions as well as transactions carrying fiduciary responsibilities. However, blockchain technology is likely to be intrinsically embedded within business processes in years to come. Those businesses that have technology with flexible deployment options, and those with modern enterprise resource planning (ERP) solutions in place, will be in a better position to take advantage of blockchain technology and adapt faster. So, is blockchain right for your business? Assuming you agree that it is a technology that can improve visibility, productivity and security for businesses, then maybe the answer is yes. Any technology that provides components needed to achieve business growth is worth paying attention to, in my view. Is it right for your business in 2018? I’d have to say probably not. Blockchain, in some form, appears to be in everyone’s future, but for most that time has not yet come. www.epicor.com record. An entry written to one replica will eventually arrive at the other replicas, which then have to collaborate and decide if the new entry is valid. This can be harder than it sounds to facilitate. 3 Is blockchain secure enough? Whilst, in general, blockchain is considered a step forward for securing transactions, like most things in computing, security is not inherent. Blockchain uses public key encryption, hashing and digital signatures, and other mechanisms that are well known, but not always administered correctly. Missteps in securing a blockchain, or simple bugs in the platforms, can cause serious disruption. For example, on November 6, 2017, $280M in assets were accidentally (and temporarily) frozen in a blockchain managed by Parity Technologies due to a bug in the underlying platform. 4 Will I be compliant? As is often the case with new technologies, there are policy issues to be worked out. For example, if a blockchain is Whilst, in general, blockchain is considered a step forward for securing transactions, like most things in computing, security is not inherent