12 IT In Society

Electronic Currency: Payment in digital form, eliminates physical currency exchange.
- Types include:
  - Digital currency
  - Virtual currency
  - Cryptocurrency
  - Central bank digital base money
  - Stored value cards

Definition: Money available in digital form, transferred electronically instead of cash.
Popular payment methods: credit cards, mobile phones, smartwatches.
Characteristics: Centralized vs. decentralized.
Centralized Systems:
- Credit/Debit Card: Used with card readers; payment process involves data transfer from user to business bank account.
- Electronic Point of Sale (EPOS): System for managing sales, customer loyalty, stock inventory, etc.

Bitcoin: Cryptocurrency eliminating central authority, supporting P2P transactions via blockchain.
Litecoin: Bitcoin fork for faster and cheaper transactions.
Peer-to-Peer Monetary Systems: Enable direct electronic payment between users without intermediate financial entities.
Mobile Electronic Wallet:
- Contactless payment method through mobile devices.
- Users download an app to store payment information.
- Data transferred to the bank for payment processing.

Definition: Exists only in a virtual environment, no physical counterpart.
- Example: Game tokens or in-app currencies.
Advantages:
- Personalized user experiences in games.
- No significant manufacturing cost.
- Programmable for automated transactions.
Disadvantages:
- Lack of regulation; subject to scams.
- Specific to apps and games, non-transferable.

Definition: Digital currency secured by cryptography, often decentralized and uses blockchain technology.
- Examples: Bitcoin, Litecoin.
Advantages:
- Low fund transfer fees.
- Difficulty in counterfeiting.
- Investment potential for high returns.
Disadvantages:
- Can facilitate untraceable criminal activities.
- Highly volatile market.
- Susceptibility to cyber hacking.

Definition: Digital form of fiat money, akin to physical currency with serial numbers to prevent counterfeiting.
Advantages:
- Reduces money laundering and tax evasion.
- Lowers production costs of physical money.
- Enhances money exchange speed.
- Simplifies monetary policy implementation.
Disadvantages:
- Possible reduction in user privacy.
- Vulnerability to cyberattacks.

Definition: Cards holding a set monetary value, used until depleted.
- Types: Closed-loop (non-reloadable) and open-loop (reloadable).
Advantages:
- Controls overspending; no credit history impact.
- Access without credit checks.
Disadvantages:
- Inactivity fees may apply.
- Limited purchasing power (closed-loop cards).

Disadvantages primarily affect banks due to fees lost from business transactions, potential for facilitating tax evasion and money laundering.

Definition: Data analysis to identify patterns across large data sets, useful for businesses.
Data Warehouses: Extensive storage of data for mining activities.

Business Understanding: Define business objectives with data analysis.
Data Understanding: Explore available data and assess its quality and relevance.
Data Preparation: Cleanse and organize data for analysis.
Data Modeling: Select techniques to find patterns or make predictions.
Evaluation: Measure model performance against objectives.
Deployment: Implement findings in real-world applications.

Chat Rooms: Online spaces for real-time text-based communication.
- Features: Public & private access; support for text and multimedia.
Instant Messaging: Real-time text messaging; includes multimedia sharing.
- Features: Read receipts, online status indications.
Forums: Structured discussion boards on various subjects.
- Utilization: Knowledge sharing and collaboration.
Emails: Asynchronous communication enabling documentation and file sharing.
- Importance: Both personal and professional communication.
Blogs: Online journals sharing information and experiences.
- Interactivity through comments.
Microblogs: Concise updates and information sharing in real-time.
- Example: Twitter.
Social Media: Platforms supporting content creation, sharing, and user engagement.
- Role in community building and discourse shaping.

Education: Facilitates learning through collaboration and information sharing; includes various services for student-faculty interactions.
Finance: Market discussions and internal communications among financial institutions.
Health Care: Patient support networks and community engagement through platforms.
Information: Rapid news dissemination and involvement in current events.
Government: Public engagement and awareness-raising on political issues.

Intellectual Isolation: Algorithms may restrict exposure to diverse ideas, fostering confirmation bias.
Health:
- Physical: Sedentary lifestyle, sleep issues.
- Mental: Cyberbullying, low self-esteem from social comparison.
Ideological Polarization: Greater division due to echo chambers and selective information exposure.
Stereotyping and Cognitive Issues: Online scrutiny might exacerbate cognitive processes leading to stress and anxiety.

Global communication; real-time interaction; avenues for support and advice; entertainment.

Information overload; exclusion feelings; potential misinformation; decreased attention span.

Various sectors such as sports, healthcare, education, e-commerce, and government leverage technology to improve services and efficiency.
Healthcare: Remote monitoring, AI support for patient care and management.
Education: Technology enhanced learning through CBT, online tutorials, and MOOC.

Computer-Based Training (CBT): Combines multimedia content for effective learning at the learner's pace.
Online Tutorials: Flexible access to learning resources, supporting diverse subject matter.
Networked Courses: Collaborative learning using real-time engagement between peers and tutors.
Massive Open Online Courses (MOOCs): Open access to diverse learning opportunities, enabling widespread education.
Video-Conferencing: Facilitates real-time discussions across distances, enhancing interactivity and engagement.

Positive: Flexibility, creativity, access to global resources.
Negative: Technology challenges, lack of personal interaction impacting motivation.