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Paper Money vs. Electronic MoneyI would define money as a form of currency that represents a store of labor or value (Davies, 2004), which can be exchanged for goods or services. Money does not have to be “backed” by anything—though some feel it should be backed by a standard such as gold, which is universally acknowledged as having value (Kemp, 2001). In actuality, one’s government has a natural right to coin its own currency and issue it to citizens. The fact that our government has given up this right to the central bank, from which it borrows money at interest signals that the true government of our nation is the central bank, since it possesses the authority formerly held by kings. Some people like having cash in their pocket which they can easily exchange for goods or services. They do not have to rely and electronic exchanges; or they do not want to have to pay for something using a credit card or bank card. Cash makes transactions simpler and also makes it harder for totalitarian governments to keep track of what you are spending money on. At the same time there are others who feel that electronic money is far simpler to use: one need not worry about always have cash in one’s pocket—a simple credit card or bank card will do the trick. One can also earn “points” or “cash back” by using a credit card, so there is that incentive as well. So there are good reasons on both sides, and I do not think we will see a dramatic drop in the use of paper money over the next five years—at least not any more than the rate has dropped in the past ten years.
Extending from that fact is the idea that the “notes” we are issued from the bank have value—but the paper money (fiat, as it is called because the banks print it at will and loan it to our government) has done nothing but lose its value over the past century. One can easily look at where prices are today and where they used to be to see how the currency has been devalued.
I am in favor of using electronic money because it makes making purchases easier—for instance, at the gas pump,…
Electronic Cash and Smart Cards Forms of electronic cash came about in the 1990s with the rise of the Internet and a new way to do business. Smart cards were among the new forms. When purchasing products over the Internet, consumers have concerns about the privacy of their information with electronic payments. Some studies were conducted to evaluate the pros and cons of smart cards, how the security is designed in
Risk analysis projects are relatively expensive, and were so even in the mainframe computing era, because they involved the collection and evaluation of a significant volume of data. Earlier risk studies were conducted by in house staff or consultants and the in house people did not have much experience regarding the matter and the consultants did not know much about the requirements of the organization. Presently, the familiarization task has
Crypto Currency Cryptocurrency Crypto is a term that is an abbreviation for cryptography. In accordance to Vacca (2010), the word cryptography emanates from two words crypto and the Greek term graphikos. The former means a secret that is hidden or concealed while the latter means for writing. The two words when joined together mean a concealing place for notions, words, images and sounds. A cryptocurrency is form of exchange similar to normal
Economics Why that Dollar in Your Pocket is More than just a Piece of Paper Money in contemporary society has taken a primary role in life. It affects everything from the quality of a person's social life to the quality and quantity of available food. Below the history, value and use of money are considered. The first system of economy was a barter system. Because of issues such as double coincidence of wants
Part of the problem is that America's national crime reporting systems, such as the National Incident-Based Crime Reporting System and the Uniform Crime Report Program managed by the Federal Bureau of Investigation (FBI) in cooperation with thousands of U.S. law enforcement agencies, do not specifically identify or distinguish between many forms of online crimes. Nor do they effectively distinguish between traditional in-person forms of crime that are substantially facilitated
Electronic Cigarettes International Group (ECIG) is an international producer, distributer and retailer of e-cigarettes, e-liquids, and vaporizers with outlets and kiosks in several countries around the world as well as online stores. The company has steadily been growing over the past two years with sales approaching $20 million per quarter in 2016 (SA Transcripts, 2015). Dan O'Neill replaced Brent Willis as CEO and President of ECIG on January 9, 2015. Dan