Gone are the days when man was a wanderer. He himself had to go places in search of needs and wants but now life has changed, it’s only a click away from your shopping, business transactions and social interaction.
The growth of information technology has affected almost every sector of life. Internet has enabled us to get all information at our doorstep.
By Tongai Mwenje
Internet has affected all sectors including the stock markets which are the most important player of the economy; unfortunately, in Zimbabwe the system has remained far behind. The Internet has brought some changes that critically need to be adopted in the local sphere to effect the changes so as to match the market.
Computer Society of Zimbabwe recently hosted a woman in ICT workshop at the Meikles Hotel where experts from Industry, academia, business, current and former students converged to witness the potential in women in ICT.
Students were given a platform to showcase their ICT adept and surely they did their best. We witnessed coders, designers and programmers among the girl child who took turn to present their ideas.
STOCKS IN REAL TYM is among the products that where showcased on the day, the product is just a solution to the arduous and procedural processes within the Stock Exchange business.
The main objectives of coming up with such a product solution is to eliminate the bulky stock holder material that shareholders acquire after trading; notably the paperwork in transfer of securities.
The system also aims to arrest risks associated with physical certificates such as bad delivery fake securities, delays, thefts, etc.
The product will provide flexibility in trading hours; trading hours can be raised from the current two and haft (from 0930hrs to 1130hrs) to ten hours (from 0800hrs to 1800hrs) through its adoption.
SRT can also reduce transaction costs through the cancellation of stamp duties on security transfers.
This seems a game changer in the Stock Exchanger business as the world is slowly going paperless through digitalisation.
This product if well-articulated it will change lives of many by giving Stock Brokers a breath of life as transaction can be done quickly and easily.
Whilst it’s a perfect idea from a woman, the system poses a serious threat in this Cyber Crime era; it requires a highly sophisticated encryption system that will not compromise the safety of people’s finances.