As we are aware of Information Technology had its modern existence from late sixties of the last century when the Arpanet was introduced, funded by the department of defence of USA. After that the IT industry has come a long way to its current shape where it is playing a very dominant role in our every sphere of life. It has made revolutionary changes in information gathering and dissemination as well as in global communication. It is creating a virtually paperless work environment. Also we can now send a message very easily to anywhere in the world in seconds. From education point of view we can have a virtual class where the instructor could sit in any part of the world and his students scattered in all different parts of the world through video conference with presentation of study materials as well as question and answer sessions. A doctor now sitting in any part of the world could perform a surgery where the patient is lying in another part of the world. These simple examples show where we stand today compared to what it was half a century back. But as we know nothing in this world is purely good as everything has a dark side. In this paper we would discuss the merits and demerits of implementing IT globally and where we are heading to in future.