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Category: Technology

Analytics, Change Management & Technology

The New Concern with Bitcoin

Posted on by Imarticus Learning

Bitcoin has seen massive growth over the past few years or so, mostly due to the ease with which it makes transactions possible. There is no middleman, and it helps eliminate the need for an extra payment for taxes while running a number of transactions.
The blockchain is the fundamental software that bitcoin works on and it is known to be stable and reliable. However, a lot of investors are starting to feel that the “perfection” surrounding bitcoin may not be as flowery. It’s always better to inform and equip yourself with the knowledge surrounding a new investment to be on the safer side.
Here are a few concerns that bitcoin can bring up:

Wallet Vulnerability:

Bitcoin wallets have a real vulnerability towards hack attacks as well as theft. A team of researchers from Edinburgh discovered weak spots in these online wallets that could be exploited. The encrypted wallets are still susceptible to external attacks, and it’s important to be wary of the same.
Scientists were able to intercept any communication between the wallet and PC, thus syphoning off information and even diverting money to different accounts.

Cyber-Attacks and Hacking:

Bitcoin is always at risk of being attacked by cybercriminals. There have been attacks prior, and the value has slumped. The fear of losing a heavy investment online and not knowing about it is also a major fear in the mind of many investors.
Hackers have been trying to get into Bitcoin exchange systems for years now, and in 2014, they ended up being successful after syphoning off close to 850,000 bitcoins. The value of the same today would be a gargantuan $7.2 billion.

Single Client Mining:

There are certain mining pools which have become strong enough that they can command their own mining ratios, which are significant. This stems from the continued use of the proof-of-work consensus mechanism.
A pool can also use computational power to mine blocks of bitcoins and then hide it from many honest miners. This is called block withholding, and it prevents a new block from being broadcasted throughout the network.
The pool also attempts to find more blocks and the others are left in the lurch. Greedy miners find a new block before other miners and then broadcasting the two blocks they have makes the forked chain extremely long. These miners will always be a step ahead of the others, taking the lion’s share of the rewards.

Spending Double:

While there have been reinforcements to help control double spending. There is still a fear that concerns the risk to bitcoin. It has become stronger against any co-ordinated double spends online.
There are still people who can constitute attacks to help them benefit from twice utilising the same coin in a transaction.
Take, for example, Tom sending Bob x bitcoins for a transaction. Tom also executes a similar transaction at the same time to a certain address that he controls with the same bitcoins, x. While Bob believes Tom has sent the money and doesn’t confirm the same, Tom’s address has been credited, and the transaction doesn’t go towards Bob’s name.
Conclusion:
Then the feature of irreversibility causes the transaction to become invalidated and pointless. Since bitcoin is also unregulated, there ends up being no recourse.
Thus, bitcoin has always been a major source of debate among many financial technology advisors. While the technology behind it is revolutionary, its own identity is still murky without a clear route on its future. If you’re looking to invest in bitcoin, it is highly suggested that you speak to an expert and get all your doubts cleared before moving forth and making any investment.
Get to know more about bitcoin through : https://imarticus.org/Professional-Certificate-Course-FinTech/

Being agnostic with agility: Agile transformation

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The word Agnostic Agile in IT means the capacity of something to work without “knowing” the essential elements of a framework that it is working inside. The term can allude not exclusively to programming and equipment that is software and hardware, yet additionally to business procedures or practices.
If being an Agile specialist and as an individual who is in charge of Agile transformation, one ought to perceive the significance of being Agnostic with agility at any stage of life. This means that one framework and structure isn’t the appropriate response that ought to be suited to client setting and a more extensive key vision. 
We should consider this necessary. The need is to enable clients to achieve the correct level of agility that addresses their issues and reach up to their requirements. The motive of work isn’t to make system lock-ins or to restrict how agility can be connected to the association, regardless of whether at group levels or at scale. But Agnostic Agile as specialists must endeavor to be bosses of their work and art, comprehend and practice no less than two formally settled structures or strategies, maintain a great connection among ourselves as well as other people, and help to support and develop the agile business experts. 
Agnostic Agile business analysis is an appearance of these aims, refined concisely into an arrangement of standards. Agile business development is never again an issue. Companies of each stripe, little respect to its size, company or topography, are utilizing this system consistently to motivate applications to showcase all the more rapidly with higher quality to stuff the primary concern. 
But the question arises, how does an association plan for progress to Agile advancement and execute it effectively? How can it maintain a strategic distance from the traps and difficulties? In this article, we uncover some Keys for Ensuring Agile Transformation Success. 

  • To put the client first, to make them self-standing

Put your client’s advantages first, since that is the thing that you have been contracted to do. Help your clients profoundly comprehend the agile outlook, standards, and qualities rather than just structure specifics. By doing this, engage customers to be independent, rather than being dependent.

  • To comprehend upsetting limitations and work to evacuate them

Try to know where your client has been trapped and endeavor to evacuate any imperatives that ruin agility. Make your customer happy and satisfied with your work.

  • To give a valiant effort, enhancing theory with practical experience

Apply your best accessible information, knowledge, and learning of agile practices as your present capacities permit; such can originate from your involvement or from any systems that best fit a client’s needs.  

  • To learn, improve and move forward

Share your own insight and knowledge with other individual specialists, serving to improve and enhance agile practices consistently. This comprises giving helpful criticism where and when suitable in the most aware way, with the goal that all may profit for learning and nonstop enhancement.

  • To customize agility to context

There is an art to lean, and agile practices that it is worked by observational confirmations, and that passionate knowledge, comprehension of client context, and client development levels may exceed the appropriation of any technique or structure, despite the fact that that strategy or system may be the more agile thing to do.

  • Never misguide and to never manipulate

Never misguide your customer by expressing that you know something when you don’t, and never hide and manipulate any decisions or options that could make some way or another advantage to your client.

Top Trends in Agile To Look Out For – You Should Know

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Nowadays Agile business is a popular expression. Agile practices are being worked by associations of each kind and scaled to ventures of each size. Agile gives associations a way to deal and enhance both proficiency and adequacy, and additionally representative fulfillment. That is why agile philosophy is subsequently quickly picking up territory in the business scene. While the method for working follows its foundations back to IT-related divisions, Agile has now unmistakably advanced toward the corporate scene.
From that point forward the essential yet great Agile qualities and practices have engaged groups to create programming quicker with better quality. Consistent with its name the Agile world keeps on being amazingly powerful with new practices, structures and approaches flooding the market each day. So let us take a gander at a portion of the interesting issues which have caught everybody’s creative ability.

  • Undertaking Agile Frameworks

Enterprise agility may be somewhat overpowering for agile beginners. Undertaking agile business analysis courses can be a convenient guide for these amateurs to scale agile adequately. Venture Agile systems are process plans which accompany an arrangement of agile practices, association structures, jobs, and different proposals. A portion of the famous ones is Less, DAD, SAFe and Nexus. A large portion of these structures gives the adaptability to pick distinctive forms dependent on the agile development and size of the venture. In recent years, we have seen a rush in the selection of these structures, and we trust this upward pattern will proceed.

  • Comprises of Business Functions Too

Agile business was before restricted to programming and software development, yet endeavor agility requires a rebuilding of the whole esteem stream from idea to money. This will include business capacities like Human Resource, Marketing, Finance and Research in the Agile net. Clearly, these capacities will at first complain about agile training & practices, however, will at last fall in place when they see better outcomes. To assist groups with this arrangement, Discipline Agile Delivery incorporates business functions as well.

  • Different Methodologies

There are different agile business analyst courses strategies which have been in presence for a long while. In the past ventures have been endeavoring to standardize with one strategy yet have gradually understood that there can’t be one single wellspring of truth. Truth be told, the establishing individuals from scrum have themselves recognized that Scrum and Kanban together work out well. Obviously, before bouncing into any system, groups should have something numerous variables like nature of work, development of the association and size.

  • DevOps Practices: The next big thing

DevOps is an improvement that emerges from the indistinguishable group of thought from Agile. DevOps is about always advancing, creating, testing and giving criticism. Along these lines, the item or administration ends up being more adaptable and is more versatile to changing wishes of clients or partners. Agile training is digging in for the long haul, and as specified in the post, it will broaden its impact from programming improvement to different business works as well.

  • Agile is future confirmation

Agile’s future is feasible. The agile business is a vital transformation instrument for associations going ahead and many respondent’s expresses that Agile will be standard or a norm. For the most part as a result of the expanded time-to-showcase, the connection between business and IT and the chance to oversee evolving needs, respondents view Agile as a basic need for the future. Other than Agile itself, different ideas inside the Agile family are developing insignificance. Nonstop Delivery, Design Thinking, and Growth Hacking are required to ascend in stature in the coming years.

Business Analysis in the Digital Age

Posted on by Imarticus Learning

For the last two decades, we have been staring at massive shifts in our economy. Business models that were stable for decades or centuries are at the brim of the transformation or the failure due to the digital transformation happening in the industry. This presents a large scope for business analytics training courses. Since organisations around the world have started shifting focus from the process automation to integrating new digital technologies to the business model, the relevance of BA is greater than ever before.
The Transformation to the Digital Age
What is the digital transformation? Every organisation is trying to find a definition in their own context. All these contexts can be summarized to three fundamental ones they are:

  • Customer Experience – Using technology to enhance the customer experience.
  • Operational Process – Improving the overall operation of the organisation using technology and reducing the cost.
  • Business Models – A new business model relying on technology to deliver new forms of value.

However, in all these cases technology is the common factor which drives the tide of transformation. With these changing circumstances, organisations are compelled to rethink and go creative with their business models.
How Digital Era Affects the Traditional Business Analysis
If we analyse the history of the industry, we can see that each era has presented their own tools to the business world. The industrial age presented tools like standardization, process-oriented assembly line and repeat ability. The progress made with these innovations was tremendous. For the traditional business analysis, most of these industrial age thinking is being used. The business analysts try to stick with the prescribed journeys to achieve process and efficiency. The digital era brought change to all these.
The Digital Era brings a significant increase in self-service, ubiquitous connectivity and focuses on the overall customer experience. It is the complete opposite of the traditional seller-oriented oriented business. This era places the customer at the centre, potentially with extreme customization of products, process and services. Rather than a general product, discrete experiences and emotions have become more prominent in the business.
The new hurdle for the Business Analysis is to obtain ways to connect all these disparate steps together in a way that produces what the customer wants without sacrificing the profitability of the organisation. To support this various channels of interactions are available for the business analysts. The digital tools have obtained prominent roles in interactions in the Digital Era. The integration of Social media and mobile applications to customer services have enhanced the customer experience along with the interaction channels.
The Future…
In the current state, strategic and effective business analysis is becoming a critical corporate ability. The traditional project-oriented business analysis will soon be a thing from the past. The business analysts will be required to adopt a business-oriented approach in the near future. The skill sets like process involvement, product management and lean product development will become necessary skills for an ideal business analyst. As a career opportunity, business analytics is going to be even stronger and profitable in the digital era.

How The Agile Project is Being Managed by Zoho?

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Zoho Corporation announced Zoho Sprints later this year, an agile business management software. Accessible instantly, Zoho Sprints urges groups to work iteratively and incrementally, over brief timeframes, to rapidly discharge possibly shippable items. Zoho Sprints pursues the scrum system and joins excesses, agile analytical reports, coordinated effort instruments, and adjustable scrum sheets, making it perfect for programming engineers and different groups that pursue the agile training. On the off chance that if your company serves conceivably shippable items, arranging and following of such shipments may have quite recently gotten significantly more straightforward and more compelling for your group.
Zoho Sprints is intended to enable you to convey the items on time, and dependably remain prepared for the change.
Since agile business analyst groups work with a core functioning on reacting to change and working with a feeling of criticalness, having a framework that expands this sort of activity is indispensable. Zoho Sprints is a dynamic programming that is snappy and simple to set up, so you can instantly welcome your colleagues, appoint them jobs, construct an excess, and begin your dash.
Zoho Sprints is intended to help organizations in different parts of their activities. Consequently, you can do much as Zoho Sprints is connected with Zoho’s different applications in promoting, deals, bookkeeping, client support, and all the more using Zoho account.

  • A Quick Look at Zoho Sprints

An agile business methodology puts people and collaborations over procedures and tools. Subsequently, with Zoho Sprints, administration turns out to be quick, simple, and mess-free, empowering groups of all sizes to put all their vitality and spotlight on building the most ideal items.
It enables clients to assemble an arrangement with the Backlog where Zoho Sprints users undertake stories, undertakings, and bugs, which can be organized in a plan for the day dependent on the business esteem they convey. Likewise, the Scrum Board in Zoho Sprints gives groups a chance to perceive how far each function thing has advanced. Access to an investigation like ongoing Velocity Charts, Burn-Down reports, and Cumulative Flow Diagrams encourages the group to recognize bottlenecks and gauge advance. The Sprints Dashboard gives the preview of all action in the task, so the master plan is dependable in sight.

  • The Zoho Sprints Software

Inside Zoho Sprints, you’ll discover tabs for excesses, reports, cooperation alternatives, and adaptable Scrum sheets. Inside the Backlog tab, clients will have the capacity to posts stories, undertakings, and name bugs—which can all be organized in a plan for the day. The tales made keep running close by estimation focuses for when the particular work will be finished.
The Scrum tab is intended to let groups how much advancement has been made on a specific project. Organizations are permitted to tweak work statuses to fit the specific manners by which their business runs. The Zoho Sprints Meetings module gives you a
chance to post venture surveys and refreshes. Groups can likewise utilize Zoho Sprints Feeds for a more social post-and-remark way to deal with gatherings.
Zoho Sprints is packed with dashboards and investigation for venture supervisors. These graphs, reports, and charts are all are come down into the principle Zoho Sprints Dashboard. This is the place you’ll have the capacity to see a broader perspective of everything that is going on. It let users log and endorse billable and non-billable hours inside the time sheet module.

Three Concurrent Paths to Influence Change at Work

Posted on by Imarticus Learning

You may often notice that something in your workplace is not done right. These problems could be lack of communication between departments, duplication of work, old processes that needs redesigning or people unaware of work. Whatever the problem may be, eventually a solution will be found. Implementing this solution causes change, and people are generally reluctant to change. As a leader, you will have to make influence among the organisation to make this change possible.
There are various techniques to influence change at work. But by breaking them down, you get three paths needed to be followed concurrently to get better results.

Creating conditions that influence change

This path can also be called structural influence. This refers to the workplace environments which enable, allow and encourage people to change. The name structural influence is due to the fact that these are structures we put in place to accelerate the adaption. Few of the structural influences are described below.

  • Communication – Communicating the reasons for the change in a way that people understand the purpose, need and context will ensure support from others.
  • Training – Building skill, understanding and knowledge among employees about the change is one of the important structural influence.
  • Incentives – Changes can be achieved only through improved performance and often a recognition for the extra performance drives the people.

These are generally associated with the change management. Structural influence successfully navigates the goals of change.

Influence change in yourself

Being a leader, you cannot expect the structural influences alone to do the job. Your personal involvement is a key to successful change. Having conversations with people will help to understand the experience of change. Different meetings can be held to improve the collaboration and achieve the results together.
Your personal influencing includes encouraging people during changes and supporting them. The personal relationships can help you make this path easier.

Influence change through others

The influence of other members of the organisation is very important. Since you cannot cover the whole organisation alone, help from other individuals is necessary. The people with more authority can carry out this more effectively. Recruiting advocates and sponsors and equipping them to guide the change is a part of this. Roles and relationships are defined to create a network of influence all over the organisation. Gaining others commitment to drive and sustain the change will make this path more effective.
You must keep in mind that all these paths are not independent of each other. Your personal influence will help people to use their leadership to support the initiatives. Providing structural influences will lead them to better utilisation of their abilities. These structural influences are required of leadership from others to work efficiently. Going slow on any of these paths will reduce the rate of change.
When you are influencing change in your organisation, try to leverage all three paths simultaneously. Create conditions that influence the change, use yourself to influence change and engage others in advocating for your changes.

Is The Key To Agile Leadership Simply Doing Stuff?

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Doing activities in an agile ecosystem may just be the secret tip to a successful leadership within an organisation.
Today, organisations are growing at a rapid pace and are quick to pursue a digital solution for a problem. Initially, companies faced a bit of a challenge to transform into an agile business as the world around them was changing at an exponential rate due to technological advancements. We have now moved into a realm of agile abundance where companies are harnessing the power of technology to grow. For instance, traditionally CEO and CFO roles were occupied by marketing and finance majors, whereas now we see these positions occupied by a professional with a technology background.
Agile practice entered the IT industry nearly two decades ago, and today it is also referred to for a style of leadership which is nimble and quick. Lately, there has been a lot of focus on driving agility through innovation and creativity, and this is an important consideration for individuals and organisations which want to chase an agile ecosystem. Agile business training maybe the need of the hour today.
In order to be competent organisations can undergo an agile business analyst course which has these key factors

Network of Teams

Agile leadership encourages abundance and leveraging what is already existing within the organisation. Teams are trained in agile programs such as SCRUM, DSDM and lean development which gives them the capabilities to scale up for growth within the organisations. Teams collaborate and work together in a sprint approach to achieve the desired result.

Continuous Learning

One of the key facets of an agile business is the ability to learn and implement solutions in an environment that is dynamic and ever changing. Making iterations as you go along a problem is an attribute of agile leadership.

Entrepreneurship

Individuals within an agile ecosystem take ownership of the processes to provide end to end solutions. The integral part of this model is to also come up with fresh, innovative solutions which can meet the customer’s needs and provide value.

Embrace Flexibility

One of the key attributes of agile methodology is the ability to work in a flexible manner on any given problem. In a business ecosystem, one should be able to strategy in a flexible manner in order to enhance performance.

Empathy and Ability to Take Feedback

An often underrated trait, agile leaders also need to focus on being empathetic and understanding the needs of others. In an agile world, feedback comes continuous, and individuals who wish to pursue an agile career need to be attuned to taking feedback positively and implement actions decisively.
Conclusion
In order to implement successful agile methods, organisations have to evolve in their digital transformation journey. Teams must actively participate in the change to see overall growth and performance.
Reference
https://www.forbes.com/sites/mattballantine/2018/10/30/is-the-key-to-agile-leadership-simply-doing-stuff/#6729a85e6796
https://www.forbes.com/sites/forbescoachescouncil/2018/06/29/what-does-it-mean-to-be-an-agile-leader/#573f613c4db4
 

Making New Ways of Working (NWOW) Happen Now

Posted on by Imarticus Learning

If we think about it, it is quite clear that the progress made in information and technology hasn’t reflected in our industrial operations. We still use two hundred-year-old hierarchical command system at organisations in this era of self-employed entrepreneurs and well-networked individuals.
However, those days are finally getting over. Today, we are facing the change we need, the “New Ways of Working” in our industries. This blog elaborates further on how to speed up this process of change in our organisations.

What is meant by New Ways of Working?

New ways of Working is a transformational approach to our existing work system backed by digitalisation. Technological innovations are integrated into the daily activities to make this possible. Employees get to decide when they work, which communication medium they use and where they work. This way, the workers get more flexibility and improve their productivity. To achieve this model, various drivers can be managed such as physical workplace and management practices. The past management styles and barriers are removed to enable coordination of multigeneration workforces.

Requirements for NWoW

For an organisation to implement NWoW and become agile, it requires to pull apart the traditional silos and operational techniques. The goal of this new system is to create a positive employee experience through empowering and enabling them. To make this possible, a transformation is required on how people think, how people act and what they do and deliver.

Change in How People Think

An adaptive mindset is one of the primary requirement for a truly agile capability. In this way, we should be open to all the possibilities, continuous learning and new methods. Rather than having a fixed mindset towards growth, NWoW emphasis on individuals with a mindset to explore new options. These kinds of thinking evolve and adapt to meet challenges on this fast-changing conditions.

Change in How People Act

Agile capabilities of a team or person rely on their ability to collaborate, ability to adapt, willingness to work outside the area of expertise and openness towards feedback. In a group, the mindsets of the whole members should be towards adaptive thinking. With such teams, adaptive practices such as enterprise social networking, working out loud and visual management can be comfortably carried out. It will help to promote co-creation and deep engagement further.

Change in What You Do and Deliver

After putting agile mindsets and behaviour together, New Ways of Working requires embedding of these new ways to the organisational culture. The leaders of the organisation should be keen to model and reward the proper behaviours. Recruiting the right people will make things easier because agile practices work best when all the team members demonstrate agile behaviour and thinking.
The changes required in an organisation to utilise New Ways of Working are not very unreasonable. If we think about the shift in power, we know that conventional hierarchical power models are failing to motivate people. Connection and collaboration are replacing the command and control system. Sooner or later we will find ourselves in workplaces that are catching up with this new model. For quicker adaptation, we will be required of an agile mindset, behaviour and practice.

Keeping Agile with Change Management

Posted on by Imarticus Learning

Many software start-ups and IT companies are now resorting to ‘Agile’ and change management. Agile methodology mainly refers to dissecting a project into short-term cycles which are commonly known as “sprints.” The assumption behind agile methods is that the situation keeps changing throughout the project.
Agilists focus on the reality of the business and try to deliver the change projects within stipulated time by performing the project in short sprints rather than adopting a single change management process.

The Agile development process

The classic Agile development process case study has been detailed in the Scrum 1995. The critical observations of the Agile framework can be considered as:

  1. The disintegration of the change projects into short-term iterative cycles
  2. Less time and space to achieve the objectives as now you are focusing on completing one milestone after the other
  3. Changes and developments in the current plans
  4. Organizational resistance to change management
  5. Managing the impact of agile on the existing project managers, and IT team

The short tern iterative cycles are repeated every 2-3 months depending upon the size and requirements of the project. The steps involved in the iterative includes planning, requirement analysis, designing, building, and testing. These processes keep changing with every iterative due to the underlying assumption of the dynamic situation in an agile environment.

Agile Manifesto

Due to the flexibility and adaptability of agile methodologies, an Agile Manifesto was published in 2011.
The principles of the Agile Manifesto are:

  1. An interactive environment: Individual interactions at an organisational level is given prime importance. It involves coordination, teamwork, and motivational sessions.
  2. A pilot version of the project: Before the release of final version a demo pilot version of the project is adapted to understand best the requirements of the customers rather than depending upon documentation process.
  3. Continuous customer interaction: One of the most critical factors to be considered is constant interaction with the customers to understand the exact requirements of the customers.
  4. Quick response to change: Agilists need to work faster and quickly respond to the changing environment.

Role of Change Managers in the Agile framework

It is imperative to set up a highly effective change management team for successful implementation of Agile practices at the organisation. Since the success of the project is highly dependent on the performance of the change managers, it is imperative to have an experienced change management team for agile projects.
Training should be continuously provided to the teams according to the changing times and requirements. It should be focused, precise to keep them abreast of the current developments.
Communication should be direct, precise and frequently performed to achieve clarity on the topic.
The change managers should be able to tackle resistance at middle-level management through continuous communication.
A change management team comprising of professionally experienced change managers will contribute towards successful completion of the agile project.

RBI Forms a Unit On Cryptocurrency, Blockchain and AI

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All of us were shocked to hear the news of RBI banning cryptocurrency in India. Few of us were afraid that such a promising technology would go unrecognised by the Indian Government. But after banning cryptocurrencies, the Reserve Bank of India has now formed a particular unit for the development of blockchain and artificial intelligence lead by a general manager. Even though the official announcements about the team are yet to reach you, the unit is also expected to draft rules and regulations for the cryptocurrencies and other emerging technologies.

RBI and Cryptocurrencies

In 2018 April, the Reserve Bank of India barred all the banks and financial institutions from dealing with virtual currencies. The risk associated with cryptocurrencies had led the RBI to consider this regulation. It meant that your banks would not allow you to buy cryptocurrencies to protect your money.
However, the blockchain technology is identified and has been studied for the improvements in the banking sector. Recently RBI tested a blockchain based trade application successfully.
RBI is not impressed with the non-fiat structure of cryptocurrencies, but the underlying technology is identified and being studied.

Role of the New Unit on Cryptocurrencies and Blockchain

As a regulator of financial activities of a country, RBI has to be on the top of every emerging tech to decide whether to adopt or not. In the financial sector where we are slowly changing from paper to digital, it is essential for RBI to look into cryptocurrencies and blockchain which is presumed to be the future of money transactions. In that sense, RBI is doing precisely what the formation of this unit supposes them.
The RBI has recently mentioned the plan to set up a data science laboratory with professionals from economics, econometrics, data analytics, computer science, statistics and finance background. The new unit is expected to be able to use data analytics with the aid of new technologies for predicting different RBI functions. Inflation targeting, policy enforcement and banking regulations are included in these RBI functions.
Also, despite the ban, the RBI is not completely ignoring the possibilities of cryptocurrency. A fiat digital currency named “Lakshmi coin” is in construction by the RBI. Shedding light on the regulatory framework might be another critical role of the new unit.

Central Banks Around the World

The central banks around the world agree with RBI on the fact that privately issued cryptocurrencies such as Ethereum and Bitcoin are not going to replace the traditional currencies. LIke India, a lot of the countries are working on cryptocurrency issued by the central bank of the country. The fraudulent activities associated with the technology is delaying the release of such coins. The states also have to ensure that their systems are mature enough to handle the payment systems.
All countries are going forward in this matter despite their different speeds. Unfortunately, a collaborative than an individual study on digital currencies backed by global central banks as a legal tender is yet to happen which will ease the process of cooperation in the future.