Governance issues also relate to regulatory compliance, security, privacy, and similar
concerns impacting today’s organizations. Today’s data management and storage landscape,
where data entropy and data sprawl are rampant, has far-reaching consequences for data
security.
Many organizations store a significant amount of data in distributed and hybrid clouds
and even unmanaged environments, increasing regulatory compliance challenges. Data
inventory and data flow are often recommended. With increasing IoT devices and data
lakes in the cloud, visibility, and control are lost, resulting in data sovereignty
challenges. Disruptive technologies such as Blockchain (distributed ledger) have emerged
as candidates for financial institutions to reform their businesses. Distributed ledger
technology is expected to improve by simplifying back-office operations and lowering
human intervention. However, security concerns around this advancing technology remain.