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future tech - Coggle Diagram
future tech
cryptocurrency
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governments need to
strike the balance; changes
payments, banking, transactions
conduct financial transactions using
only digital identities, without currency from
a bank or credit card provider
all transactions are recorded on public digital ledgers, visible to everyone (transparent, secure, tamper-proof)
however, transactions are
slow, expensive, cannot process
large volumes
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illicit commerce (not just
Bitcoin, but esp cryptocurrencies
which offer more anonymity)
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no centralised authority to
manage - cannot reverse,
rectify mistakes; money can
be easily lost (forget pw)
total market value was
$2trillion in 2021 - investors
believe it is secure because
of scarcity compared to normal
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-
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inequalities in digital access and
financial literacy could end up
worsening socioeconomic disparities
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changing
realities
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apps to help people lead more
physically, mentally, ethically
healthy lives
technology can help to avoid/
reduce sinful actions, but resisting
temptation must be by humans
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