Technology and Globalization in Multinational Corporations

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Globalization
Technology is a huge part of today’s society and it is helping the world come together in many ways. Because of technology, and what it is capable of, our world is becoming globalized. Because of globalization, multinational corporations are quickly changing how they do business and this is impacting how financial management is conducted. For a better understanding, this report will discuss the pro’s and con’s that technology has on the globalization of multinational corporations, as well as how it is changing MNC’s financial management. First, the definition of globalization.

Definition of GLOBALIZATION
: the act or process of globalizing : the state of being globalized; especially: the development of an …show more content…

Transactions using Bitcoin are made with no middlemen, or in other words, no banks. There are no transaction fees and no need to give your real name. Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. No one knows what will become of bitcoin. It is mostly unregulated, but that could change. Governments are concerned about taxation and their lack of control over the currency. In an the article “Now J.P. Morgan Weighs In on Bitcoin” by Neelabh Chaturvedi, J.P. Morgan 's head of foreign exchange strategy, John Normand, wrote a research note outlining his thoughts on the virtual currency, Bitcoin, and they are not completely supporting the Bitcoin. Normand’s note attempts to look at the potential use of Bitcoin as an alternative to existing currencies and payment systems but it doesn’t seem like a positive outcome. Although Normand sees the benefits of virtual currencies: predictable growth in money supply, verification of transactions to prevent fraud, and reduced transaction costs in some cases, he does not see bitcoin adequately fulfilling those responsibilities. “Since governments are quite unlikely to accord it the status of legal tender, bitcoin or other virtual currencies would not reach the scale and scope to render them worthwhile for widespread commerce, payments or investment.” Other drawbacks: A lack of oversight, as well as price volatility, lack of Bitcoins, and one of the most important: the issues of no legal recourse to getting your Bitcoin back in event of a

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