Risk ISN’T Something Tangible

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Can a risk mitigation create value to a business predicated on the COBIT framework? Risk is not at all something tangible, but can be minimized with help of CobiT platform. Risk minimization ensures, risk doesn’t go beyond risk hunger of the business, thereby helping business to survive and grow, predicated on CobiT framework.

With help of CobiT, risk may be linked with business strategy, thereby helping make better up to date decisions within risk tolerance by risk mitigation. Further, though CobiT might not help much define risk analysis methods even, but it helps establish a hyperlink b/w risk scenario and appropriate response via enablers(controls), also how to manage risk ( Risk function and Risk Management).

It is an extended, costly but necessary process. The other manifestations of the price of trust are not in what we do, but in what we can not do. Two billion people are rejected bank accounts, which will keep them away from the global economy because banking institutions do not trust their asset and identification records. In the meantime, the web of Things, which is expected to contain billions of autonomous devices interacting to increase efficiency, will not be possible if gadget-to-gadget microtransactions require the intermediation of the prohibitive cost of centrally managed ledgers. You can find many other examples of how this nagging problem limits creativity. Many say the justification can’t be seen by them because of its costs.

Yet their analyses generally do not compare these costs with the cultural cost of trust that new models seek to get over. However, increasing numbers of people understand this. Since Bitcoin’s calm publication in January 2009, the amount of followers is continuing to grow substantially to include previous Wall Street professionals, Silicon Valley technology specialists and experts in development and assistance from organizations such as the global world Bank.

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Many start to see the rise of technology as a new vital phase in the Internet economy, a stage that is even more transformative than the first. As the first wave of online disruption saw mortar and brick companies dislodged by leaner digital intermediaries, this movement challenges the idea of for-profit intermediaries.

The dependence on trust, its cost and dependence on intermediaries is one of why giants such as Google, Facebook and Amazon are changing economies of range and the advantages of network results into de facto monopolies. These giants are, in fact, centralized general ledger guardians, building huge registers of “transactions” in what’s probably the most crucial “currency” in the world: our digital data.