Blockchain
SMBs represent a trillion-dollar opportunity for CSPs, but they are not waiting for anyone
Report finds SMBs already connect technology adoption to business resiliency but in order to thrive, they need solutions specific to their needs
Dublin, Ireland – November 30 – Beyond Now, a fast-growing ecosystem orchestration and digital platform provider, today launched global research that illuminates a ‘new’ kind of small medium business (SMB) market, one that has vast, untapped potential for communications services providers (CSPs) to accelerate their growth in the B2B sector. Despite impending recession, SMBs are not afraid to invest in technology as they understand it’s a key factor in improving business resilience.
The report, CSPs: it’s time to reacquaint yourselves with today’s SMBs, found that 85% of SMBs recognize the importance of technology to the success of their businesses, with 51% ranking technology as very-to-crucially important. However, SMBs need help from CSPs to realize those improvements. 68% of SMBs want a single platform for technology solutions. And for CSPs that can get it right, SMBs represent a $1.42 trillion (Analysys Mason) global market opportunity.
While SMBs are cost conscious, they currently invest 8% of their annual revenues in technology products and services. And despite economic uncertainty, those investments will increase. In the next year, half of SMBs will increase their technology spend by an average of 6%. In the next two years, 59% will increase investments by an average of 7.5%. And in five years, 64% expect to boost technology investment by an average of 9%.
The research found that SMBs are more sophisticated adopters of technology than many give them credit for. They are digitally-minded and their business priorities are closely aligned with what technology can help them achieve. In the next 12 months, 70% of SMBs believe that technology can help them achieve efficiency improvements and further digitalize their businesses, with some also exploring business growth, customer experience improvements, and easing issues caused by a lack of time and human resources.
Notably, SMBs recognize the business impact of a range of bleeding edge technologies. It’s expected that they would perceive IT security and cloud technology as delivering significant value. But what is surprising is that SMBs recognize the potential value in more nascent technologies including blockchain (72%), AI/ML (71%), Edge (70%) and even robotics (56%). Additionally, they are already thinking about 5G use cases. 73% perceive value from the technology and expect CSPs to help them realize the potential of 5G beyond standard connectivity offerings.
However, SMBs report administrative headaches with having to manage multiple technology providers to meet their needs. 62% said there are gaps in off-the-shelf technology products in helping them to meet their business priorities. 64% want technology providers to work together to build joint solutions that help them achieve their goals. Critically for CSPs, 65% of SMBs would prefer to buy all their ICT from one source, and they would pay a premium for this. 33% would be willing to pay between one and five percent more, and 45% would pay between five and 10% more.
The research findings are accompanied by a playbook outlining how CSPs can develop successful SMB lines of business. The steps outlined in the playbook highlight what CSPs need to do to meet the clear expectations of SMBs and deliver a viable business model for themselves. It demonstrates demand for digital sales channels and an appetite for the industry to collaborate on the co-creation of solutions that meet vertical industry requirements. Importantly, findings from the research were similar across all respondent industries: hospitality and leisure, professional services, agriculture, manufacturing, education, healthcare, retail, and technology, media and entertainment. SMBs, regardless of industry and sector, have common pain points that they need technology to address and CSPs cannot ignore.
“It’s fascinating that at a time when the industry is so focused on enabling digital transformation for large enterprises, that many SMBs are already digitally transformed businesses. There is a rich vein of revenue available to CSPs if they can get their SMB value proposition right. That means building solutions around SMB needs, finding repeatable patterns and embracing digital channels that are key for developing viable business models. This involves creating a digital marketplace that can deliver the scale and automation necessary for CSPs to work with partners on delivering technology solutions that meet the diverse requirements of the SMB sector,” said Angus Ward, CEO, Beyond Now.
“Against the backdrop of an economic downturn, SMBs want to achieve business resilience through technology, and CSPs should be the ones to step up and help them. But SMBs are in a hurry and, traditionally, CSPs have not done enough to get to know their SMB customers. The result is that the clock is ticking for CSPs to become the SMB ICT provider of choice. It’s a lucrative segment, and CSPs that don’t act fast enough risk losing out to other players lining up to take on that same role,” Ward concluded.
Download a free copy of the report here: https://www.beyondnow.com/en/insights/start-something/Smb/smb-report?utm_source=PR&utm_medium=bulletin&utm_campaign=smb-report and CSP playbook here: https://www.beyondnow.com/en/insights/start-something/playbook/playbook-report
– ENDS –
Methodology
This research study is based on responses from 700 decision-makers or key influencers for ICT service providers in small and medium business, across North America, Europe and Asia Pacific.
Respondents are equally represented from eight sectors including: hospitality and leisure, professional services, agriculture, manufacturing, education, healthcare, retail, and technology, media and entertainment.
Field work was concluded in August 2022 by independent research consultancy, Coleman Parkes.
About Beyond Now
Beyond Now is a fast-growing ecosystem orchestration and digital platform provider, powering organizations to launch new services at speed and grow revenue by utilizing our digital platform, digital marketplace and SaaS BSS.
Our platforms are designed to help our customers experiment, monetize and orchestrate services while taking advantage of new technologies such as cloud, edge, IoT, AI, 5G and more. We enable them to co-create solutions with a growing network of partners; bringing them closer to their customers, helping drive higher efficiency and automation, taking them further, faster, Beyond Now.
We serve customers across Asia-Pacific, Europe, Middle East, Africa and the Americas, spanning industries from telecommunications, media and entertainment, to tech and IT, financial, and automotive.
For more information, please visit: www.beyondnow.com
Source: RealWire
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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