Financial Stand
Latest financial, market, economic news, stock markets, economy, and analysis from Financial Stand as it happens around the world.

What is business technology and why it’s important?

Technology is fueled by alot of factors such as the government being the first element through funding.

What is business technology and why it's important?

Business technology is where companies apply science, data, engineering and information for professional businesses so as to achieve an objective. Technology has become a very crucial field in business. The establishment of technology to business is to change the whole idea of occupation and to know how technology affects business and the society at large and without it most businesses would be dead. 

Since the existence of man technology has been there and it exists in six phases. Nomadic Agrarian(0-1650), Industrial Age(1900-1960), Service(1960-1975), Information(1975-2000) and Sematic(2000-Date). Technology is fueled by alot of factors such as the government being the first element through funding, creating and launching of technology since it depends it’s investments in the future technology. There are common types of technology that we all depend on such as networking and telephone communication.

Technology in business helps improve communication between workers and the clients. This helps the company/organization have healthy links and relationships with persons attached to their businesses and through this there is an improvement in performance at work. Therefore there is an expansion in business due to the improvement of performance and effectiveness of services. 

Cryptocurrency is a digital currency where transactions are verified and records maintained by decentralized system using a cryptograph rather than by a centralized authority ie it does not rely on banks to verify transactions. 

Cryptos allow to secure payments online which are denominated in “tokens”. It is therefore used to store value between two parties(Bitcoin which is the most popular and Litecoin). A cryptocurrency is bought from crypto exchanges through cash app or a traditional broker and one is needed to have a “wallet” which is an online app that holds one’s currency. 

There are several cryptocurrencies in the market; Bitcoin, Ethereum, Tether, Binance coin,USD coin, Solana, Carano, XRP, Terra and Polkadot. A cryptocurrency has a number of functions such as underlying assets, give it’s owners the right to vote in decision regarding blockchain future development among others. A cryptocurrency is recorded in a blockchain where it is allowed to work. 

Finance is the management, creation and study of large amounts of money by big companies and it is associated with banking debts, debt, credit, investments among others. It generally focuses on how a person or company acquires capital and how the money is spent or invested. Finance assists in formation of new businesses, growth and employ workers especially locally. The use of loans and investments is the key to success of every business. 

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

en_USEnglish