Blockchain
New ISG Insights™ Study Finds Enterprises Rapidly Shifting to Hybrid, Multi-Cloud Business Model
New research from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, finds enterprises are rapidly accelerating their adoption of cloud computing using a hybrid, multi-cloud approach, with most enterprises pushing to move the majority of their applications into software-as-a-service (SaaS) offerings as quickly as 2021.
The new ISG Insights
Enterprise Cloud Transformation Report is based on a survey of more than 300 enterprise IT decision-makers in the U.S. and Europe that asked about their cloud operations, adoption and expectations for the future. On average, enterprises are using two different public cloud infrastructure vendors for their applications, the study finds, in addition to a complement of SaaS vendors.
“Our research shows the overwhelming majority of enterprise IT decision-makers run their applications in a hybrid mode, with some workloads in the public cloud and others in private data centers,” said Chris Germann, partner, ISG Enterprise Research. “Interestingly, most of those same IT professionals expect the majority of their workloads will be running in software-as-a-service environments by 2021. This will relieve enterprises of the burden of maintaining core business applications and give them access to constantly updated vendor offerings, but they will need to manage applications in a spectrum of environments – from on-premises to SaaS – during the transition.”
The report found companies today are distributing their applications portfolios across traditional environments, on-premises private clouds, hosted private clouds, colocation facilities and public cloud infrastructure, and are in the process of adopting the latest public cloud services. Sixty-five percent of IT leaders say their firms are piloting cloud database services and 72 percent say they are planning to use cloud-based blockchain services.
However, more than 70 percent of IT leaders indicate they will not change their application architecture or hosting model before 2021 for key systems of record, such as accounting and financial software, meaning new cloud services and applications will be expected to mesh with legacy systems already in place.
“By using cloud-based applications, companies are making decisions on the technologies they plan to use for a long time, even though those choices in many cases are not part of a strategic plan,” Germann said. “Without a thoughtful approach to workload transformation and migration to cloud, enterprises will increase the cost of cloud integration and saddle themselves with tools or software that can negatively impact the business value of their new infrastructure.”
Less than six percent of enterprises surveyed by ISG agreed or strongly agreed that they have a Cloud Entry Framework (CEF), which lays the foundation for how, when and where different applications will migrate to the cloud. Less than one percent said a CEF is very or extremely important for their business, revealing a potential vulnerability for enterprises that do not take the time to fully understand the potential, long-term implications of cloud migration.
When adopting public cloud services, enterprises must balance business needs with a robust and adaptable technology platform, Germann said. “IT leaders need to control adoption of new services to avoid cloud sprawl, while allowing teams the flexibility to take advantage of new and powerful hybrid architectures,” he said. “One of the most underappreciated strategies is a Cloud Entry Framework to provide clarity for long-term cloud adoption.”
ISG Insights provides proprietary research, advisory consulting and executive event services focused on market trends and disruptive technologies driving change in business computing. To view an abbreviated executive summary of the ISG Insights Enterprise Cloud Transformation Report, visit this webpage. To learn more about ISG Insights, please visit the ISG Insights Research page on the ISG website or contact ISG.
SOURCE Information Services Group, Inc.
Bybit, one of the world’s top three crypto exchanges by volume, has forged a strategic partnership with global Web3 communities to unveil the establishment of the Blockchain for Good Alliance (BGA). This new coalition unites blockchain foundations, universities, and NGOs in a commitment to leveraging blockchain technology for social good.
Addressing a gap in the Web3 industry, the BGA will use the innovations and opportunities of blockchain and crypto ecosystems to power social advancement and tackle issues. By joining forces with the world’s most forward-thinking leaders, Bybit will drive change by using Web3 technology to open the future of finance to more people and find solutions for the world’s most pressing challenges.
The alliance will focus on offering blockchain technology training, boosting projects aligned with social betterment, managing initiatives, and providing financial backing to ensure the success of impactful projects. Bybit will spearhead discussions, promote hackathons, and offer its extensive expertise to develop technical and project management skills among partners.
Speaking at a live workshop at Blockchain Life Dubai 2024, Bybit COO Helen Liu addressed the inspiration behind the initiative. “Blockchain developers often tell me that they are lonely; that Web3 is still a niche pursuit,” Liu said. “So I wanted to find a way to help them find an audience who are new to Web3 and in this way support solutions that benefit and grow the whole ecosystem. The Blockchain for Good Alliance embodies this journey, setting a course for a more inclusive world where blockchain technology better serves humanity.”
Bybit’s role extends beyond the creation of the alliance; it is committed to being the bridge connecting users to the potential of Web3 through simple, accessible, and innovative products. With over 1 million Web3 wallet users, partnerships with leading projects like Solana and 1inch, and a comprehensive array of educational initiatives, Bybit, a.k.a the Crypto Ark, is not just navigating the present but charting a course for a more impactful future.
The post Bybit and World Leaders Forge Major Alliance to Direct Web3 for Social Good appeared first on HIPTHER Alerts.
Blockchain
Open-Source Intelligence (OSINT) Market is expected to reach a revenue of USD 64.9 Bn by 2033, at 25.6% CAGR: Dimension Market Research
The country passed a landmark bill in June 2023, which laid the foundation for stablecoins and other crypto to be treated as regulated financial activities.
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The U.K. will issue new legislation for stablecoins as well as crypto staking, exchange and custody by June or July this year, Economic Secretary Bim Afolami said.
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The Conservative-party-led government has said it wants to make the U.K. a global hub for crypto and passed legislation last year to recognize crypto and stablecoins as regulated financial activities in the country.
The U.K. government is set to put forward legislation for stablecoins as well as for crypto staking, exchange and custody by June or July, Economic Secretary Bim Afolami said at the Innovate Finance Global Summit on Monday.
“We are now working at pace to deliver the legislation to put our final proposals for our regime in place,” Afolami said. “Once it goes live, a whole host of crypto asset activities, including operating an exchange, taking custody of customers’ assets and other things, will come within the regulatory perimeter for the first time.”
In 2023, the U.K. passed a landmark financial markets bill that laid the foundation for stablecoins and crypto broadly to be treated as regulated financial activities in the country. Local regulators, the Financial Conduct Authority and the Bank of England, both consulted on what a stablecoin regime would look like last February. The BoE said it would oversee stablecoin providers that were large enough to affect the financial system, while the FCA said it would regulate the wider crypto space.
Afolami teased the coming of secondary stablecoin legislation in February, adding that the government was pushing to get it done within six months.
The U.K.’s Conservative Party-led government has said it wanted to be a crypto hub and has since consulted on its ambitions to regulate crypto. The U.K. is expected to have an election this year, which could see the Conservative party ousted and some crypto plans left in limbo, meaning the party could have a limited time left to execute its plans. The Labour party is the current favorite to win.
Source: coindesk.com
The post UK to Issue New Crypto, Stablecoin Legislation by July, Minister Says appeared first on HIPTHER Alerts.
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