Archive for Business

What is Bitcoin?

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

Personal data – What is it?

Personal data is information and assessments that can be linked directly or indirectly to an individual, i.e. the data subject.


Personal data includes name, gender, age, address, phone number (for personal or work use), credit card transactions, social security number etc. But we must also remember that, for example, IP addresses and encryption keys in many cases can be linked to individuals, and thus may be considered as personal data. Personal data also includes behavioral information such as where you shop, what you watch etc (often referred to as profiling).


Sensitive personal data is information on race or ethnicity, political, philosophical and religious beliefs, health conditions, sexuality, membership in unions, criminal matters. In addition, it includes genetic and biometric information when General Data Protection Regulation (GDPR) comes into effect on May 25, 2018.

Electronic data interchange

Electronic data interchange (EDI) is an electronic communication method that provides standards for exchanging data via any electronic means. By adhering to the same standard, two different companies or organizations, even in two different countries, can electronically exchange documents (such as purchase orders, invoices, shipping notices, and many others). EDI has existed for more than 30 years, and there are many EDI standards (including X12, EDIFACT, ODETTE, etc.), some of which address the needs of specific industries or regions. It also refers specifically to a family of standards. In 1996, the National Institute of Standards and Technology defined electronic data interchange as “the computer-to-computer interchange of strictly formatted messages that represent documents other than monetary instruments. EDI implies a sequence of messages between two parties, either of whom may serve as originator or recipient. The formatted data representing the documents may be transmitted from originator to recipient via telecommunications or physically transported on electronic storage media.” It distinguishes mere electronic communication or data exchange, specifying that “in EDI, the usual processing of received messages is by computer only. Human intervention in the processing of a received message is typically intended only for error conditions, for quality review, and for special situations. For example, the transmission of binary or textual data is not EDI as defined here unless the data are treated as one or more data elements of an EDI message and are not normally intended for human interpretation as part of online data processing. EDI can be formally defined as the transfer of structured data, by agreed message standards, from one computer system to another without human intervention.

What is personal data?

Personal data can be observed, inferred and/or derived.

Personal data is a piece of information or assessment of it that can be linked to you as an individual. It includes name, personal identity number, address, telephone number, E-mail, iris pattern, credit card information etc.

Sensitive personal data includes information on race or ethnicity, political, philosophical and religious beliefs, health conditions, sexuality, membership in associations or criminal matters.

Observed personal data about your behavior like “What and how do you shop?” – “What do you watch on TV?” – “Where are you going?” – “What are you searching for on the Internet?”

The Future of Mobile

Users are no longer happy with cookie-cutter relationships with their apps. They want personalized experiences and app content that maps to their preferences, needs and locations. They know you have data on them, and as long as you respect and protect their privacy, they are OK with letting you use it to create a better experience. The problem is businesses are not thinking big when it comes to meeting those expectations …

Think about it!