As the analyst covering all things emerging information technology, I spend a bit of time watching web and social feeds looking for interesting and potentially disruptive stuff. Fortunately, it’s a good time for me to be doing this, as there are all kinds of things going on. I’ve decided to pass some of the best on to my readers in periodic “What’s Cooking” posts.
Digital currency will turn retail and financial services on its head, eventually. Digital currency fascinates me, especially the enigmatic Bitcoin creator and its so far unbreakable code*. Also the way you have to mine for more coins is very interesting. Whether or not Bitcoin succeeds as the de facto standard, I think digital currency is inevitable and the more firms that accept is, the crazier things will get. Check out The Antisocial Network of Bitcoins.
I heard a great analogy from a client recently; buying new technology is like buying a new car - there are a lot of different strategies. Some people want a new car every couple of years and pay a premium to have it, some choose to lease so they get a new car every few years at a lower payment but they don’t own. Others buy new but plan to drive the wheels off their purchase. The problem is that IT wants to buy a nice reliable sedan and drive it for 200K miles, while some business units want to lease a SUV and others want a Ferrari. It’s an issue of misalignment, but in so many cases IT is not synching up with the business desire to innovate and differentiate with new technology.
Many architects and technology executives relate a cautious approach to introducing new, “bleeding edge” technology because they are in a very conservative business that doesn’t change that much. Ask them about the level of business investment in technology outside of IT, however, and they whistle. “Yup, that’s happening allot.”