Alcatel-Lucent mobile Wallet case study Example | Topics and Well Written Essays - 750 words

Alcatel-Lucent mobile Wallet - Case Study Example This provides the user with less friction when using bitcoin in daily transactions. In a case where a user’s wallet has been tampered with, the user can create a new vault and considering that vaults and wallets are paired, this new empty vault invalidates the old wallet. One of the main benefits of this system is that it allows a user to separate their savings from their day-to-day spending. Additionally, the system enables such a user to carry those daily transactions with less friction. The mobile wallet from Alcatel-Lucent equally provides banking services to both developed and developing countries. In developed countries, person-to-person money transfer necessitates the use of this service. On the other hand, underdeveloped banking networks in developing countries have led to many people turning to this service. Despite having tremendous benefits to developing countries, Alcatel-Lucent mobile wallet has been applied more in developed countries. According to Anthony Belpaire, the managing director of Alcatel-Lucent mobile wallet, there are tremendous opportunities for consumers using this service in developed countries (Chaki et al 2011, p.221). Most people in these countries have mobile phones which makes the use of mobile wallet possible to most people in these countries. One of the challenges of decentralized electronic currency systems is managing the various subsystems of the main system to ensure that users can transfer currencies. There is also the risk of losing an electronic device that holds a key to these funds. This may imply losing all the money associated with that device. In order to solve this challenge, fixed-access scenarios have been created to secure electronic devices. This involves encryption and decryption of a disk file paired with a backup of the information stored in the disk file. PEST is a tool used by businesses to analyze the political, economic, socio-cultural and technological changes in a business. Porter’s five