Late 1950s - Early 1960s: Second Generation Computers An important change in the development of computers occurred in 1948 with the invention of the transistor. It replaced the large, unwieldy vacuum tube and as a result led to a shrinking in size of electronic machinery. The transistor was first applied to a computer in 1956. Combined with the advances in magnetic-core memory, the use of transistors resulted in computers that were smaller, faster, more reliable and more energy-efficient than their predecessors. Stretch by IBM and LARC by Sperry-Rand (1959) were the first large-scale machines to take advantage of the transistor technology (and also used assembly language instead of the difficult machine language). Both developed for atomic energy laboratories could handle enormous amounts of data, but still were costly and too powerful for the business sector's needs. Therefore only two LARC's were ever installed. Throughout the early 1960s there were a number of commercially successful computers (for example the IBM 1401) used in business, universities, and government and by 1965 most large firms routinely processed financial information by using computers. Decisive for the success of computers in business was the stored program concept and the development of sophisticated high-level programming languages like FORTRAN (Formular Translator), 1956, and COBOL (Common Business-Oriented Language), 1960, that gave them the flexibility to be cost effective and productive. The invention of second generation computers also marked the beginning of an entire branch, the software industry, and the birth of a wide range of new types of careers.

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Who owns the Internet and who is in charge? The Internet/Matrix still depends heavily on public infrastructure and there is no dedicated owner of the whole Internet/Matrix, but the networks it consists of are run and owned by corporations and institutions. Access to the Internet is usually provided by Internet Service Providers (ISPs) for a monthly fee. Each network is owned by someone and has a network operation center from where it is centrally controlled, but the Internet/Matrix is not owned by any single authority and has no network operation center of its own. No legal authority determines how and where networks can be connected together, this is something the managers of networks have to agree about. So there is no way to ever gain ultimate control of the Matrix/Internet. The in some respects decentralized Matrix/Internet architecture and administration do not imply that there are no authorities for oversight and common standards for sustaining basic operations, for administration: There are authorities for IP number and domain name registrations, e.g. Ever since the organizational structures for Internet administration have changed according to the needs to be addressed. Up to now, administration of the Internet is a collaborative undertaking of several loose cooperative bodies with no strict hierarchy of authority. These bodies make decisions on common guidelines, as communication protocols, e.g., cooperatively, so that compatibility of software is guaranteed. But they have no binding legal authority, nor can they enforce the standards they have agreed upon, nor are they wholly representative for the community of Internet users. The Internet has no official governing body or organization; most parts are still administered by volunteers. Amazingly, there seems to be an unspoken and uncodified consent of what is allowed and what is forbidden on the Internet that is widely accepted. Codifications, as the so-called Netiquette, are due to individual efforts and mostly just expressively stating the prevailing consent. Violations of accepted standards are fiercely rejected, as reactions to misbehavior in mailing lists and newsgroups prove daily. Sometimes violations not already subject to law become part of governmental regulations, as it was the case with spamming, the unsolicited sending of advertising mail messages. But engineers proved to be quicker and developed software against spamming. So, in some respects, the Internet is self-regulating, indeed. For a detailed report on Internet governance, click here.

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VISA Visa International's over 21,000 member financial institutions have made VISA one of the world's leading full-service payment network. Visa's products and services include Visa Classic card, Visa Gold card, Visa debit cards, Visa commercial cards and the Visa Global ATM Network. VISA operates in 300 countries and territories and also provides a large consumer payments processing system.

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Alexander Graham Bell b., March 3, 1847, Edinburgh d. Aug. 2, 1922, Beinn Bhreagh, Cape Breton Island, Nova Scotia, Canada American audiologist and inventor wrongly remembered for having invented the telephone in 1876. Although Bell introduced the first commercial application of the telephone, in fact a German teacher called Reiss invented it. For more detailed information see the Encyclopaedia Britannica: http://www.britannica.com/bcom/eb/article/1/0,5716,15411+1+15220,00.html

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