Understanding Digital Currencies Explained
Understanding Digital Currencies Explained
digital currency
virtual currency
cryptocurrency
central bank digital base money
stored value cards
Digital Currency
It is the money that is available in a digital or electronic form. Currency is exchanged digitally
using computers instantly rather than exchanging physical bank notes and coins. Popular modes
of payment are through credit cards, mobile phones and smart watches. It allows easy
transaction across borders
Characteristics:
Uses:
Digital currencies can be either centralized, one that has a central body that is managing and
regulating the use of currency; or decentralized, one that doesn’t have a central body
managing the process. The most common way to manage the transactions with decentralized
systems is through the use of a ledger for exp; blockchain.
Centralized Systems:
credit/debit card: They can be used with card reading machines, they can either be
swiped and the magnetic strip can be read or they can be inserted in the machine for
the chip to be read. Another method is the contactless method where touching the card
to the computer/machine is only required for payment. In all cases data is read through
preferred method by the computer and the bank is located from data. A request is sent
to deduct the required of money from the customers balance and transfer it to the
business’s bank account
electronic point of sale: EPOS is the computerized system used in shops to enter sales
information, handle customer loyalty programs, manage stock inventory etc. It’s
basically the checkout point where the customer transaction are done electronically
(pos involves payments made thru physical cash and record being maintained on register
books)
Decentralized Systems:
Bitcoin: A form of cryptocurrency that aims to eliminate the need for central authorities
such as banks or government. It makes use of blockchain technology to support p2p
transactions between users on a decentralised network
LiteCoin: A type of cryptocurrency created from the fork of the Bitcoin blockchain to
complete transactions quickly and cheaply. Its also p2p and decentralized.
peer to peer electronic monetary systems: This type of payment system is designed to
allow peers to send electronic payment to each other without the need for it going via a
central body, such a financial institution
Process ( 4 marks):
Virtual Currency
Virtual currency is a decentralized system. It only exists within a virtual environment and
doesn’t have a physical representation as bank notes and coins. An example of it would be
tokens that can be collected or purchased such within computer games; it allows user to
purchase new powers or clothing. For this reason, a virtual currency is normally specific to
games or applications for which it is created for can cannot be used elsewhere. Another
example of virtual currency is on streaming platforms where in app currency/ tokens can be
bought to purchase special effects messages that get displayed in real time on the video
stream.
Advantages of Virtual Currency:
It can personalize game or application by making it fun to collect and spend the specific
virtual currency
It doesn’t have expensive manufacturing and physical storage costs
They can be programmed to complete automated transactions
It increases transaction seeds and eliminate geographical boundaries
Cryptocurrency
The cyrptocurrency is a digital or virtual currency that is secured by cryptography which makes
it impossible to counterfeit or double spend. Many cryptocurrencies are decentralized networks
based on blockchain technology – a distributed ledger enforced by a disparate (differing)
networks of computers. They are also a type of peer to peer electronic monetary system. A
feature of it is that they are generally not issued by any central authority, making it immune to
government interference or manipulation. Bitcoin and LiteCoin are well known examples of it
Advantages of Cryptocurrency:
Disadvantages of Cryptocurrency:
The decentralised system allows a level of anonymity which can encourage criminal
activities that can go untraced such as money laundering and tax evasion.
It has high volatility and potential for large losses
Since its unregulated and not backed up, it is susceptible to cyber hacking
Central Bank Digital Base Money
Central base digital base money is also known as central bank digital currency (CBDC) which is
the digital form of fiat money. Fiat money is basically the physical money used in any country
that is issued by the state bank for payment of any goods and services. Digital fiat money is
digitalizing the real world money and effectively creating a digital currency. It is similar to paper
bank notes as it also has its own serial number to make it distinguishable & prevent
counterfeits. Banks intend to use it as a controlled supply along with the existing currency.
Advantages of CBDC:
Prevents criminal acts such as money laundering and tax evasion as transactions can be
traced
Cost of producing money can be reduced as no paper or printing will be needed
Banks ability to speed up exchange of money will be greatly improved
Simplifies the implementation of monetary policy and government functions
Disadvantages of CBDC:
Prevents over spending and debts as only the set amount of money can be used unless
recharged
Some stores don’t have credit check or minimum balance check before a transaction
takes place for stored value cards which allows ease of access
Payments made from stored value card doesn’t affect the users credit history which
maintains a level of anonymity
Some have inactivity fee or duration, after a certain period of unactivity the currency
stored expires or a fee is charged
Purchases made from store value cards doesn’t help build up credit hence some prefer
not to use it
Closed loop cards limit purchasing power
There are fees to reload card sometimes making it cheaper to just purchase items with
normal credit cards/cash
Read textbooks, its mostly the disadvantages mentioned, i.e crytocurrency is bad
for banks as they earn fees from transactions that take place through business
and it encourages tax evasion and money laundering. Etc etc etcc kuch likhdena
bus
Data mining is a form data analysis and artificial intelligence. It is the process of collecting large
sets of data and analyzing theme to identify patterns and trends. This information can be used
to help identify future and past trends that could be very valuable to a company. The large sets
of data are stored in data warehouses. Computers are used for data mining due to the sheer
volume of data that is searched and analyzed.
READ ONLY
1. Business Understanding:
- What it means: Figure out what the business wants to achieve with the data. Understand the goals and why we're digging
into the data in the first place.
- Example: If a store wants to increase sales, understanding which products are popular among customers could be the goal.
2. Data Understanding:
- What it means: Get to know the data you have. What information is available? What does it look like? Understand the basics
of your dataset.
- Example: If you're studying customer behavior, this step involves looking at data like purchase history, demographics, and
preferences.
3. Data Preparation:
- What it means: Clean up and organize the data so it's ready for analysis. Fix errors, handle missing information, and get the
data into a format that's useful.
- Example: If some customer records are incomplete, fill in the missing details or remove the incomplete entries.
4. Data Modeling:
- What it means: Time to build models that can find patterns or make predictions. Choose the right tools or techniques to
analyze the data.
- Example: Use algorithms to predict which products customers might be interested in based on their past purchases.
5. Evaluation:
- What it means: Check how well your models are doing. Are they accurate? Do they meet the goals set in the first step?
Evaluate their performance.
- Example: Assess if the predictions made by the model align with the actual buying behavior of customers.
6. Deployment:
- What it means: Implement the findings or solutions in the real world. Put the results to use, so the business can benefit from
the insights.
- Example: If the model suggests certain marketing strategies, deploy those strategies in the actual marketing campaigns.
These steps help businesses make informed decisions, improve processes, and achieve their goals by tapping into the potential
insights hidden within their data.
Stage 1: Business understanding
In this stage business goals and their impact are identified (the need of business)
Situation is assessed to determine what needs to be achieved or solved to complete to
reach the goal (what is the problem)
Goals are defined of the data mining process (goals/objectives to overcome problem)
A plan is established to develop a roadmap for the data mining process (,outlining tasks
and timelines) to achieve the business objectives
Data selection takes places, relevant data is chosen from available resources
Data cleansing, errors are corrected, missing values are inserted and incorrect and
inconsistent data is removed
Data transformation, construction and formatting of data takes place to make sure it is
in the required form for the business
This can allow for patterns and trends to be established in the data, relating to the
business needs.
Stage 4: Data modeling (ask for examiner report and candidate response booklet)
Appropriate data mining algorithms are selected based on the nature of the problem
Models are created by running selected algorithms on old selected data
Model parameters are adjusted to improve accuracy and performance
Models are validated by testing them on new data to ensure they generalize well and
provide reliable results.
Stage 5: Evaluation
Models are evaluated by assessing the performance and how well it meets the defined
goals and objectives
Results are interpreted to understand insights generated by models and to identify old
and look for new patterns that might have been generated
Models are compared to identify the most effective one
Iterate if necessary if results are not satisfactory, adjustments are made to models or
data preparation process
Stage 6: Deployment
Models are implemented into the business environment or systems for practical use
Performance is monitored and documented
Final results are reported to stakeholders
Results are reviewed in order to check for errors and how to correct them
It is used in national security and surveillance to analyse huge sets of data in order to find
hidden patterns, predict potential threats and take proactive measures to maintain safety and
security of the civilians and government. It is used in-
Businesses:
Business use data mining to understand their customers and operations better in order to
increase sale and gain an advantage against their competitors, such as-
Predicting customer’s needs, by looking at their buying habits with the use of data
mining can help companies understand the audience they are reaching and create
items/services that cater their needs.
Running targeted marketing, with the help of data mining, customers profiles can be
created to target them with special offers and promotion that they are more likely to
take interest in.
Predicting trends, data mining allows past trends to be recognized and future trends to
be predicted, businesses can identify their est selling item and restock it and create
similar items.
Improving sale strategies, by identifying when, what and where customers purchase the
most and adjusting inventory and sales schedule based on the right time that could be
predicted from data mining.
Spotting fraud, allows business to identify suspicious transactions and create a blocklist
in order to prevent loss by prohibiting orders made by certain credit card numbers or at
addresses aswell as maintain a blocklist for sellers that try to fraud
Enhancing customer service, by analyzing customer feedbacks and complaints through
data mining business can help improve their customer services.
Scientific Research:
Data mining in scientific research helps researchers speed up their research process by allowing
them to dig into big data, find patterns, make predictions and come up with new discoveries
and solutions. Here are some applications-
Healthcare Research : Doctors and scientists use data mining to find patterns in
medical data. This can help them predict diseases, understand how different treatments
work and improve patient care.
Environmental Studies: Researchers analyze data from the environment like air quality
or temperature, to track climate change, predict natural disasters or find ways to
protect endangered animals
Market Research: Companies use data mining to understand what customers want.
They analyze shopping patterns, online reviews and social media to make better
products and improve sales strategies.
Educational Research: Educators and policymakers use data mining to understand how
students learn, They look at test scores, study habits and other data to improve teaching
methods and educational materials.
Genetic Research: Scientists mine genetic data to learn about DNA, diseases ad health.
This helps in finding new treatments and understanding how genetics affect our health
Astronomy: Astronomers use data mining to handle the vast amount of data from
telescopes and space missions. This helps them discover new stars, galaxies and
understand the universe better.
Social Science Research: Social scientists analyze data from surveys, social media and
other sources to study human behavior, social trends and cultural patterns.
Healthcare:
Data mining in helps healthcare providers make smarter decisions, predict diseases, personalize
treatments and improve overall patient care.
Predicting Diseases: Mining allows doctors to look at patient records and find patterns
that can predict illnesses like heart disease or diabetes before they become serious/
Personalized treatment: By analyzing a patients and health data, data mining helps in
tailoring treatments specifically for them which can be more effective than one size fits
all solutions.
Drug development: Pharmaceutical comanies use data mining to analyse research data,
speeding up the discovery of new drugs and ,making the development process more
efficient.
Managing healthcare costs: Hospitals and clinics use data mining to look at treatment
costs and patient outcomes, helping them provide better care at a lower cost.
Reducing hospital readmissions: Data mining helps predict which patients are likely to
be readmitted, allowing healthcare providers to take preventive measures.
Preventing Fraud and Abuse: Mining helps in detecting fraudulent activities in
healthcare, like false insurance claims or prescription misuse, by analyzing patterns in
billing and clinical data.
Data mining in social and economic trend analysis helps experts sift through mountains of data
to spot patterns, predict changes, and make better, informed decisions about the future.
Predicting Market Trends: Data mining analyzes financial data, stock markets, and
economic indicators to predict future market trends. This helps investors and businesses
make informed decisions about where to invest or what products might be popular.
Analyzing Social Media: By looking at posts, likes, and shares on social media, data
mining can identify trends in public opinion, popular culture, and political movements.
Tracking Employment and Economic Growth: Data mining helps in understanding job
market trends, unemployment rates, and areas of economic growth or decline. This is
crucial for policymakers and governments to plan and make decisions.
Real Estate Analysis: It's used to analyze housing market trends, like changes in
property values or rental prices, helping both buyers and sellers make better decisions.
Identifying Public Health Trends: By mining health-related data, experts can spot trends
in public health, like the spread of diseases or the effectiveness of health campaigns.
Assessing Environmental Impact: Data mining can reveal trends in environmental data,
such as pollution levels or climate change, which is vital for planning and policy-making.
Data mining, while super useful, also raises some important ethical and privacy concerns.
Here's a simple explanation of these implications:
Privacy Invasion: Data mining often involves analyzing personal data like shopping
habits, social media activity, or medical records. People might not know their data is
being used this way, which can feel like their privacy is being invaded.
Data Security: When data is collected and stored for mining, there's a risk it could be
stolen or misused. If someone hacks into the data, they could access sensitive
information like bank details or private messages.
Misuse of Information: The information from data mining can be used in ways that
harm people. For example, it might be used to deny someone a loan, a job, or insurance
based on their data profile.
Bias and Discrimination: Sometimes, the algorithms used in data mining might be
biased. They could make unfair assumptions about people based on their age, gender,
race, or where they live. This can lead to discrimination.
Consent Issues: Often, people don't explicitly agree (or might not be aware) that their
data is being mined. This raises questions about consent and whether it's ethical to use
their data without clear permission.
Transparency: It can be hard to understand how data mining works and what's being
done with the data. This lack of transparency can make people distrustful and
concerned about how their data is being used.
Allows organizations to make strategic decisions that can help maintain or increase their
revenue.
Allows organizations to understand their customers and create the products they need.
Allows individuals to see targeted product advertising based on the things they already
like.
Allows individuals to see targeted product advertising based on the things they already
like.
Allows individuals to see targeted product advertising based on the things they already
like.
Chat Rooms
Chat room is an online service that allows multiple users to type messages to each other,
allowing them to chat. Some chat rooms are public and accessible to anyone while others are
private often requiring an invitation link or passcode to join. They don’t require physical
presence and any individual can join from around the world through the internet. Some even
have features such as sending emotes, links and images but conversation mainly takes place in
text only. People use chat rooms to discuss different subject, exchange information or just to
socialize. They are often found on websites, forums or platforms where people interests gather,
businesses may use it to introduce/test review items or as a customer support chat. In chat
rooms messages are visible to all members.
Instant Messaging
Instant messaging is a form of real time communication that allows users to exchange text
messages instantly over the internet. It provides quick and convenient method for individuals to
have conversation whether one-on-one or in groups. It supports multimedia elements such as
images, sound, videos and emojis. Most instant messaging facilities have a report feature which
allows a user to see who has read their message, who is online right now and an option to
enable notifications of incoming messages. A friend/contact list feature is also available in a lot
of instant messaging features that allows them to send a chat request to their friend or
block/remove them from chat. Many IM apps incorporate encryption and privacy features to
secure the content of messages.
Forums
A forum is an online platform or website where people can have discussions by posting
messages. It’s like a digital bulletin board where users can create topic threads related to
specific subjects and contribute to ongoing conversations. Each message in a forum can be a
question, comment or reply and discussion often happening in a structured manner, with
threads containing a series of related messages. Forums are commonly used for sharing
information, asking questions and connecting with others who have similar interests or
expertise. They can cover a wide range of topics, from hobbies and technology to professional
advice and support groups. Forums also organize threads into different discussion groups often
called sub forum. Many forums have rules regarding post along with having moderators who
remove posts that follow the rule or goes under the right topic discussion. Some are only
membership based which requires you to make an account in order to post on it, sometimes to
even view previous threads. Since messages in forums are usually archived, it allows users to
access and reference past discussions.
Emails
Email is short for electronic mail, it is a digital communication method that allows users to and
receive messages over the internet. It operates through a system of unique addresses for each
user, enabling precise message delivery. An email typically comprises of a subject line, a main
body containing the message and the option to attach files or documents. Users have inboxes
for incoming messages and sent folders for all the emails they have created and sent. Emails
can include replies or be forwarded to others, Security measures also exists in it such as spam
filters and encryptions which helps users from unwanted content and enhance privacy. They
serve as both personal and professional purposes, facilitating instant yet asynchronous
communication.
Blogs
Blogs are online journals or informational websites where individuals or organizations regularly
post articles, insights, or stories. Typically displayed in reverse chronological order, with the
most recent content appearing first, blogs allow writers to share their thoughts, experiences,
and expertise on a variety of topics, ranging from personal life to specialized subjects. They
often feature an informal or conversational tone, making them accessible and engaging to a
wide audience. Besides text, blogs can include images, videos, and links to other websites,
enhancing the reader's experience. Readers can usually interact with the blogger through
comments, fostering a community around the blog's content. Originally starting as personal
online diaries, blogs have evolved to include professional and corporate blogs, significantly
influencing online information sharing and content creation. This platform has become
instrumental in digital marketing, journalism, and personal expression.
Microblogs
Microblogs are a type of online platform that allows users to share brief and concise updates,
typically in the form of short text messages. The defining feature of microblogs is the character
limit imposed on each post, restricting the length of messages to a few sentences or, in some
cases, a limited number of characters. Users can share real-time information, thoughts, and
links quickly and efficiently. Microblogging platforms often prioritize immediate and frequent
updates, enabling users to maintain an ongoing and dynamic conversation with their followers.
Microblogs play a crucial role in disseminating timely information, engaging audiences, and
fostering concise communication in the digital space.
Social Media
Social media refers to online platforms and technologies that enable users to create, share, and
exchange information, ideas, and content in virtual communities. These platforms facilitate
interactive communication and engagement through various formats, including text, images,
videos, and links. Social media has become a significant part of digital communication, allowing
individuals, businesses, and organizations to connect with a global audience. Key features of
social media include user-generated content, the ability to connect with friends or followers,
real-time interaction, and the sharing of multimedia content. Social media plays a crucial role in
shaping public discourse, disseminating information, and fostering online communities.
Education:
Chat Rooms:
- Individuals: Students collaborate on group projects and discussions.
- Organizations: Educational institutions host virtual classrooms and study groups.
Instant Messaging:
- Individuals:* Quick communication between students, teachers, and parents.
- Organizations: Educational organizations use instant messaging for internal
communication.
Forums:
- Individuals: Students seek help and discuss academic topics.
- Organizations: Educational institutions use forums for faculty collaboration and
knowledge sharing.
Email:
- Individuals: Students communicate with teachers and peers.
- Organizations: Educational organizations use email for official announcements
and communication.
Blogs:
- Individuals: Students maintain personal blogs for reflections and creative
writing.
- Organizations: Educational institutions use blogs for sharing updates and
educational resources.
Microblogs:
- Individuals: Quick updates on assignments, events, or announcements.
- Organizations: Educational institutions use microblogs for real-time updates.
Social Media:
- Individuals: Students connect on platforms like Facebook or LinkedIn for
networking.
- Organizations: Educational institutions use social media for outreach, event
promotion, and community engagement.
Finance:
Chat Rooms:
- Individuals: Traders and investors discuss market trends.
- Organizations: Financial institutions use chat rooms for internal communication
and collaboration.
Instant Messaging:
- Individuals: Quick communication for financial queries.
- Organizations: Financial firms use instant messaging for internal coordination.
Forums:
- Individuals: Investors participate in financial forums for discussions.
- Organizations: Financial institutions use forums for client engagement and
support.
Email:
- Individuals: Communication with financial advisors and institutions.
- Organizations: Official communication within financial firms.
Blogs:
- Individuals: Personal finance blogs for insights and investment tips.
- Organizations: Financial institutions may have blogs for market analysis.
Microblogs:
- Individuals:* Quick updates on market trends.
- Organizations:* Financial firms use microblogs for brief market updates.
Social Media:
- Individuals: Follow financial news on platforms like Twitter.
- Organizations: Financial institutions use social media for brand building,
customer relations, and market updates.
Health Care:
Chat Rooms:
- Individuals: Patients in support chat rooms.
- Organizations: Healthcare organizations for internal communication and
coordination.
Instant Messaging:
- Individuals: Quick communication for health queries.
- Organizations: Healthcare professionals for internal coordination and patient
communication.
Forums:
- Individuals: Patients participating in health forums for discussions.
- Organizations: Healthcare organizations for knowledge exchange and
community engagement.
Email:
- Individuals: Communication between patients and healthcare providers.
- Organizations: Official communication within healthcare institutions.
Blogs:
- Individuals: Personal health blogs for sharing experiences and tips.
- Organizations: Healthcare organizations may have blogs for health education.
Microblogs:
- Individuals: Quick health tips or updates.
- Organizations: Healthcare institutions for brief health awareness.
Social Media:
- Individuals: Follow health-related pages for information.
- Organizations: Healthcare organizations use social media for public health
campaigns, awareness, and community engagement.
Chat Rooms:
- Individuals: Engage in real-time discussions on current events.
- Organizations: News agencies may use chat rooms for internal coordination.
Instant Messaging:
- Individuals: Receive news alerts through instant messaging.
- Organizations: News agencies for real-time communication.
Forums:
- Individuals: Participate in forums for discussions on various topics.
- Organizations: News outlets may have forums for reader engagement.
Email:
- Individuals: Subscribe to newsletters for regular updates.
- Organizations: News agencies use email for newsletter distribution.
Blogs:
- Individuals: Read blogs for in-depth analysis and opinions.
- Organizations: News outlets use blogs for opinion pieces and extended
coverage.
Microblogs:
- Individuals: Receive quick news updates.
- Organizations: News agencies use microblogs for breaking news and quick
updates.
Social Media:
- Individuals: Follow news pages for updates.
- Organizations: News agencies use social media for news dissemination,
engagement, and reaching a broader audience.
Government:
Chat Rooms:
- Individuals: Citizens engaging in real-time discussions.
- Organizations: Internal government communication.
Instant Messaging:
- Individuals: Citizens reaching out to government
-
Intellectual isolation is when a person doesn’t get to hear or learn about different ideas or
opinions. It’s like being in a bubble where you only see or think about things in one way without
much chance to learn from others viewpoints or experiences. Here’s some way it could occur:
Algorithms show content based on user preferences which can create filter bubbles,
limiting exposure to diverse perspectives.
Social networking allows connecting with like minding people creating echo chambers
and limiting different viewpoints
Ability to block/remove/like content on social media only gives selective exposure
Ability to easily join online communities on forums and chatrooms limits exposure to
broad range of idea
Theres confirmation bias where use actively seek out information that confirms their
beliefs, reinforcing their own perspectives
Social networking allows amplification of certain/negative/stereotypical vies which
reduces engagement and contributes to polarization
There’s a reduced face to face interaction that limits deep conversation that may take
place in real life which allows you to explore new ideas
Constant fear of missing out and following latest tends pressurizes to agree with popular
ideas on the internet and limit critical/intellectual thinking
Physical health:
Excessive use of social media leads to sedentary behavior, reducing physical activity
levels
Late night use of social media cause sleep disturbances
Excessive use of social networking can cause eyestrain and discomfort
Mental health:
Ideological Polarization
It is when people strongly disagree and drift apart because of differing beliefs or opinions. It
happens when individuals or groups become more divided in their ideas, making it challenging
to find common ground or understanding. Ways how it can happen:
Stereotyping
Stereotyping is having a set of idea of what a person or group of people is like even though that
idea may be wrong. Here’s some way which may lead to stereotyping of individuals through the
use of social networking:
Cognitive Issues
Cognitive issues refer to difficulties or challenges related to mental processes such as thinking,
memory, problem-solving, attention and perception. These issues can affect a person’s ability to
understand, learn and process information. Examples include memory loss, difficulty
concentrating and problems with decision making. Ways how it can happen due to social
networking:
Excessive screen time can lead to cognitive fatigue, affecting concentration and
attention span.
Constant exposure to high volume of data can overwhelm cognitive processing making it
hard to retain or prioritize information effectively.
Constant multitasking leads divided attention and reduced concentration in task that
require focus
Negative experiences such as cyber bullying and harassment can cause emotional stress
and negatively impact cognitive well being
Constant exposure to curated and idealized content often with no real context leads to
increased comparison between your own lifestyle with the ‘lifestyle of others’ that can
be seen online which can affect self esteem
There’s a constant FOMO on social events and ‘MUST TRY’ experiences that are
excessively fueled by social which can create anxiety and cognitive stress
Privacy concerns are all time high due to potential misuse of personal information may
contribute to cognitive stress and anxiety.
People can feel overwhelmed by all the information and communication they encounter
Some people can feel excluded and feel that everyone seems to have a better life than
they do.
Some organizations could falsely represent certain situations and influence opinion of
people that are built on censored information
Social networking influencers can sometimes lead people to think or do things that are
harmful, such as over exercise or spend too much on expensive clothing
Contributions to platforms such as forums can often be made by people who may not
be qualified to give advice or support. This could lead to a person acting on incorrect
advice and possibly causing harm
It may be causing people’s attention span to decrease as they no longer are able to
focus on a single activity for any length of time
News stories can be sensationalized and falsely reported
It allows a level of anonymity that can encourage users to participate in bad or
sometimes illegal behavior that they would not otherwise do, if they thought people
would know who they are.
Impact of Social Networking on businesses, gov, news, org (read and learn from
pastpapers)
Manufacturing-
robotics: Increased use of robots for precision, speed and handling hazardous tasks
3D printing: IT advancements have made 3D printing a valuable tool for rapid
prototyping and producing complex parts
Real-time monitoring: Real time tracking of manufacturing processes for instant
decision making and adjustments
automation: IT enables automation in manufacturing processes, increasing efficiency
and reducing human error.
AI in design: AI aids in designing more efficient and innovative products
cybersecurity: Strengthening cybersecurity measures to protect sensitive
manufacturing data and intellectual property
Healthcare-
remote monitoring device: Daily wear monitor devices that keep track of patients vitals
such as for diabetes and alert user and emergency contacts when its low or high
artificial limbs: Allows disabled and wounded patients to use their wounded hands,
arms, legs again or replace them completely and live a fuller life
nanotechnology: Nanotech such as nanobots allow for medicine, eg in cancer, to be
precisely delivered avoiding and reducing unnecessary treatment being delivered to
healthy cells
AI chat support: Allows to assist patients in navigating healthcare services and
answering general queries
patient portals: Online platforms to book and reschedule appointments and keep a
track of medical records and prescriptions
Education-
interactive whiteboards: Makes presentations and notes more visually appealing and
interactive
e-books and digital libraries: Softcopy of books(e-books) and audio books are easily
available in digital libraries making resources more accessible
educational video games: Allows learning to take place from another perspective
making it more interesting
digital portfolios: Allows to upload tests and assignments and keep track of them
virtual classrooms: Enables learning to take place anytime and anywhere from the
world using video conferencing
Banking-
ATMs: Enables instant cash withdrawals ,deposits and basic transactions with bank
tellers
digital wallets: Allows payment information to be stored and enables easy online and in
store payments
e-statements: Reduces paper usage and provides instant account updates
online banking- Allows to manage accounts, transfer money and pay bills without
visiting a bank
improved customer services: Online 24/7 helplines improves customer services and hels
resolves issues without waiting for the weekend to pass by
This had both positive and negative effect. It has allowed people to see what has
happened in certain events, when the media may have chosen to censor the content of those
events. Others believe that this could also be harmful and will argue that the media sometimes
chose to censor what happens at events, because they believe it could be harmful for
people to be fully aware.
People are able to use IT to set up news feeds that are able to draw news stories from all
different kinds of media sources. This means that they save time as they do not need to go to
site of each individual source and fins the news stories that they want to read. They can set
their news interests for the feed and then the software will search for stories that it thinks will
interest the user.
IT is used to control many aspects in the home, such as lighting and heating and people even
use these systems from a remote location by using IT. This facility can help people save money
and can also be better for the environment. This is because, rather than having the heating
on all the day, or heating it on a timer system to start at a certain time, the user can choose to
remotely start the heating system at a precise time that they are about to travel back to their
home.
IT can also be present in many everyday devices in the home, such as washing machines and
refrigerators, for example, how long a washing machine has left to finish washing
clothes.
The use of IT in politics in this way can help them government to see what issues the
people have, and this may help them prioritize what they discuss in the government. It can
help the people have a voice and force government to discuss issues that they believe
need resolving.
IT has allowed governments to make services they provide accessible online. For example,
people may be able to pay their taxes online, and apply for the documents such as a
passport or a driving license. This can make access to these services much more
convenient for people and could also save costs for the government because they need fewer
staff available than if people needed to meet face to face for these services.
The use of IT in monitoring and surveillance has become very prominent. Many police
authorities around the world use it to monitor possible criminal activity and to locate
criminals when crimes have been committed.
One example of its use in this way is to combine facial recognition software with CCTV footage.
Often a criminal will try and flee an area or a country if they believe they will be caught. This
could involve them making a journey using a train or an aeroplane. Train stations and
airports often have a lot of CCTV footage available. This footage could be scanned using
facial recognition software to see whether the criminal has passed though train station or the
train. This type of analysis can save a lot of time as previously, a person would need to have
watched hours of footage to see if they could spot the criminal in the footage.
More, people are adding CCTV technology to their home. Special systems can be set up that
will monitor the area around a house. If any motion is detected in this area, a user can get an
alert to their mobile phones and can instantly view footage of their home to see what or who
has created the motion. Some systems allow the user to speak in the speaker this may scare off
any person who may be planning to burgle the house.
People have also started to use surveillance methods in their vehicles. Insurance
companies use dashboard cameras that will start recording the journey of the driver when
the car is switched on. The intention of the footage is to figure out the responsible in case of
accident.
Disadvantages:
Learners may not have a tutor to answer any questions that they have.
Staff may not be motivated to follow the computer-based training as they aren’t being
watched and driven to do so.
Learners may not be motivated to complete course as it requires you to be have
complete focus and good discipline.
It’s not as engaging as in person classroom based learning making it boring and
decreasing motivation
Online Tutorials
Online tutorials are digital guides that teach viewers how to complete or achieve a
specific goal/task.
Online tutorials can be delivered using different media such as text, video tutorial, audio
tutorial etc.
It allows users to learn at their own pace and in their own time
Users are also able to view the tutorial repeatedly as desired.
Users can access it from anywhere with an internet connection making it convenient
and cost effective.
A diverse range of tutorials can be found online covering aspects such as baking,
cleaning, coding, etc
Advantages:
Students can have access to teaches/tutors that they otherwise would not be able to
contact so they have a greater range of expertise to draw upon in their studies.
Students can access the tutorial at any time that is convenient so can study as and when
they wish
Students and teachers do not have to be online at the same time so there are less time
constraints on the interaction between students and teachers
Students can access material without having to travel so there are no geographical
constraints on where they study from or from where they take courses
Students can share their studies/ideas/learning with a group without having to be
physically be together/have a teacher present
Tutorials can be recorded for access at any time/can be replayed to review work
Tutorial material can be studied in any order so students can choose what they study
Students get instant feedback form periodic pre-set tests/tasks
Disadvantages:
Networked Courses
It is a form of online collaborative learning that helps learners to connect with other
learners as well as their tutors.
It is designed to help learners develop relationships with each other and their tutors.
This can help the learning process because there are a number of different people from
whom learners can gain feedback in the discussion.
It mixes live session with self-paced learning activities.
Classrooms are conducted in virtual environments, enabling real time interactions
between tutors and learners.
The time scales for it are more limited since learners tend to be at same pace in order to
exchange helpful feedbacks and comments
Learners and tutors can join from anywhere in the world making it a global paritcipation
Advantages:
Learners get to work with other learners and build relationships that they could take
forward beyond the course.
Learners are exposed to both the ability to gain and provide feedback. This means that
they build new skills and knowledge and offer the skills and knowledge they have to
others also.
Learners may be more motivated to complete the tasks as the learning of others is also
dependent on them.
Disadvantages:
Some learners may find it difficult to contribute to the process, as they aren’t sure what
to give back as feedback
Some learners may be overbearing and dominate all the discussions that take place, not
allowing enough contribution to encourage learning from others. Some tutors may find
these people difficult to manage.
Learners may be inclined to just provide positive feedback as they do not feel
comfortable criticizing the work of others.
If some learners do not complete tasks or provide the necessary feedback, this may limit
the learning ability of other users, as the timescales for learning are more limited.
MOOCs are large scale, free/affordable online courses that anyone can join on the
internet.
They cover a diverse range of topic and often provide certificates upon completion
They offer flexible learning for professional skills development or personal interests
They include filmed lectures and many other resources such as reading material
Many also provide interactive user forums
Progress through courses is easily tracked by completing set assignments and tests that
are automatically marked or available for peer review.
Advantages
Disadvantages
Students who are not digitally literate will not be able to (fully) participate and not make
use of the course materials
User-generated course materials may devalue/undermine the validity of the course
Students who cannot self-motivate-cannot set own goals will not be able (fully)
participate
Barriers of language/translations may exclude/restrict/disadvantage some participants
from (fully) taking part
Very large amounts of content are difficult to navigate/set up/learn/work through
without guidance
Practical experience/training is limited/resources for practical work are limited
Some students may not be able/be prepared to devote the time and effort
necessary/required for the course
Video-Conferencing
Advantages:
As learners can ask questions in real-time, this may improve their level of learning and
understanding.
As learners can see and hear their educator, this may feel like a personal learning
experience and may create an increased level of motivation for the learner as they may
find it more engaging.
The educator can often share what is displayed on their screen with other learners,
which could be useful if a demonstration needs to be given.
Disadvantages:
Video conferencing software can require high broadband speeds that may not be
available in some areas.
Only a small number of learners will be able to be part of the video-conference, and this
will be limited by capabilities of the software and the internet connection. This may
leave some people waiting a long time for a place on course.
The impact on student achievement and motivation
(from pastpapers for CBT’s impact on ^) / 8 marks
Positive Impacts:
Negative Impacts:
^ same and more points can be used for impact on student achievement, learner autonomy &
teacher motivation
Negative Impacts: