![]() ![]() The report goes on to suggest that RegTech's transformative potential will only be fully captured by a new and different regulatory framework situated at the nexus of data and digital identity. RegTech offers significant cost savings to industry and regulators and a 2016 academic paper suggested that the potential of RegTech is far greater stating that "it has the potential to enable a close to real-time and proportionate regulatory regime that identifies and addresses risk while also facilitating far more efficient regulatory compliance". Its application to wider industries, such as energy, confirm that RegTech is a subset of GovTech. RegTech to date has been focused on the digitization of manual reporting and compliance processes in the financial services industry, for example in the context of know your customer requirements, and is often mis-attributed as a subset of FinTech. RegTech puts a particular emphasis on regulatory monitoring, reporting and compliance and aims to enhance transparency as well as consistency and to standardize regulatory processes, to remove ambiguity from regulations and provide higher quality outcomes at a lower cost. RegTech is most usefully applied to heavily regulated industries and activities such as financial services, gaming, healthcare, pharmaceutical, energy and aviation. Regulatory technology, Abrv: RegTech, is the use of information technology to enhance regulatory and compliance processes. ( February 2022) ( Learn how and when to remove this template message) It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. Personal comptuer was developed (Apple II).A major contributor to this article appears to have a close connection with its subject. The fourthĪnd latest generation brought in CPUs (central processing units) whichĬontained memory, logic, and control circuits all on a single chip. An actual operating system showed upĪround this time along with the advanced programming language BASIC. The third generation replaced transistors with integratedĬircuits, magnetic tape was used throughout all computers, and magnetic core ![]() Rotating magnetic drums were replaced by magnetic cores for internal storage.Īlso during this time high-level programming languages were created such asįORTRAN and COBOL. Tubes with transistors, punch cards were replaced with magnetic tape, and Rotating magneticĭrums were used for internal storage. Vacuum tubes and punch cards like the ENIAC and Mark 1. There are 4 main sections of digital computing. Taking up 680 square feet and weighing 30 tons - HUGE. This machine was even bigger than the Mark 1 This computer was designed to be used by the U.S. The ENIAC was the first high-speed,ĭigital computer capable of being reprogrammed to solve a full range ofĬomputing problems. The electronic age is wha we currently live in. How does your PC match up to this hunk of metal? It was from huge machines like this that people began to look at downsizing all the parts to first make them usable by businesses andeventually in your own home. Mark 1 created by Harvard University around 1940. The first large-scale automatic digital computer in the United States was the Technologies that led to big advances in the information technology field. All of these were extremely crucial emerging The first radio developedīy Guglielmo Marconi in 1894. The telephone (one of the most popular forms of communicationĮver) was created by Alexander Graham Bell in 1876. Telegraph was created in the early 1800s. These are the beginnings of telecommunication. The electromechanical age can be defined as the timeīetween 18. Now we are finally getting close to some technologies that resemble our The popular model of that time was the abacus. A calculator was the very first sign of an information processor. That numbers were created, people wanted stuff to do with them so they createdĬalculators. (775 years later) that the number 0 was invented. When the first 1-9 system was created by people from India. Some groups of people were actually bindingĪlso during this period were the first numbering systems. You’ve probably heard of Egyptian scrolls which were popular ways of This is where the first books and libraries areĭeveloped. Now that people were writing a lot of information down they needed ways to keep Paper made was probably by the Chinese who made paper from rags. It started off as just marks in wet clay,īut later paper was created out of papyrus plant. ![]() As alphabets became more popluar and more people were writing information down, ![]()
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