Electronic and Digital Currency

• Electronic currency is a digital payment method, excluding physical forms like coins and banknotes.
• Electronic currency includes digital currency, virtual currency, cryptocurrency, central bank digital base money, and stored value cards.

Digital Currency

• Digital currency is available in a digital or electronic form
• Digital currency is exchanged digitally via computers, enabling instant exchange, unlike physical money.
• Digital currency payment methods include credit cards, mobile phones, and smart watches, facilitating cross-border transactions ease.

Digital Currency Characteristics

• Digital currencies can be centralized with a central managing body or decentralized without one.
• Decentralized systems commonly use a ledger, like blockchain, to manage transactions.

Centralized Systems

• Credit/debit cards can be used through card reading machines via swiping, chip insertion, or contactless payment.
• Electronic Point of Sale (EPOS) systems are computerized systems in shops for sales, loyalty programs, and inventory management.
• EPOS is essentially the checkout point where electronic customer transactions occur, with physical cash payments recorded in registers.

Decentralized Systems

• Bitcoin seeks to eliminate the need for central authorities using blockchain for p2p transactions on a decentralized network.
• LiteCoin is a cryptocurrency developed from Bitcoin's blockchain, which is designed for faster, cheaper transactions and is also p2p and decentralized.
• Peer-to-peer electronic monetary systems allow direct electronic payments without a central entity.

Mobile Electronic Wallet

• Mobile electronic wallets enable contactless payments through mobile phones or smart watches.
• Users download an app to store credit card information and use their device as a digital wallet.
• Mobile electronic wallets facilitate digital payment for goods and services.
• Data is read from the device, and a request is sent to the bank to transfer money.

Mobile Electronic Wallet Process

• User downloads an app from a finance provider and registers.
• The User inputs their phone number to receive a verification code via SMS.
• The User authenticates the number upon receiving the verification message.
• The User enters credit card details or adds account information, linking it to their bank account.
• Finally, the user authenticates payment details.

Advantages of Digital Currency

• No need to carry physical money.
• Fixed transaction records are provided.
• Banks can block lost/stolen cards or devices, and halt monetary transactions.
• Contactless payments speed up transactions for goods and services.
• Digital currency facilitates easy international payments in any currency.
• Contactless payments do not require PINs.
• Daily/monthly transaction limits prevent overspending.

Disadvantages of Digital Currency

• There is often a limit with contactless payments.
• The risk of data getting hacked during electronic transactions is possible.
• Accidental charges may occur near contactless payment machines.
• Risk of money theft is possible through contactless payment within a set proximity.

Virtual Currency

• Virtual currency exists only in a virtual environment and has no physical form
• An example of virtual currency is tokens in computer games for purchasing new powers or clothing.
• Virtual currencies are specific to their games or applications, unused elsewhere.
• Virtual currencies can be purchased to display special effects messages in real-time video streams.

Advantages of Virtual Currency

• Virtual currency personalizes games or applications for fun collection and spending.
• There are no expensive manufacturing or physical storage costs with virtual currency.
• Virtual currency can be programmed to automate transactions.
• Virtual currency increases transaction speed sand eliminates geographical boundaries.

Disadvantages of Virtual Currency

• The decentralized virtual currency system has minimal regulation.
• Virtual currency is specific to its creation context and cannot be spent elsewhere.
• Virtual currency can be subject to scams.

Cryptocurrency

• Cryptocurrency is a digital or virtual currency, secured by cryptography and is counterfeit-proof.
• Cryptocurrencies use decentralized networks through blockchain technology.
• Cryptocurrencies function as peer-to-peer electronic monetary systems.
• Not issued by any authority, cryptocurrencies are immune to government interference.
• Bitcoin and LiteCoin serve as prominent examples of cryptocurrencies.

Advantages of Cryptocurrency

• Cryptocurrency has minimal fund transfer fees compared to banks.
• Cryptocurrency is difficult to counterfeit.
• Cryptocurrency has potential for high returns, making it a great investment.

Disadvantages of Cryptocurrency

• Anonymity within decentralized cryptocurrency systems can facilitate criminal activities like money laundering and tax evasion.
• Cryptocurrency shows high volatility with the potential for significant losses.
• Its unregulated nature leaves cryptocurrency vulnerable to cyber hacking.

Central Bank Digital Base Money (CBDC)

• CBDC is also known as central bank digital currency consisting of the digital form of fiat money.
• Fiat money is the physical currency issued by a state bank for payment.
• Digital fiat money digitalizes real-world currency, creating digital currency.
• Similar to paper banknotes, digital fiat money includes serial numbers for distinguishing and fraud prevention.
• Banks aim to control the money supply with this along with existing currency simultaneously.

Advantages of CBDC

• CBDC can prevent criminal acts by tracing transactions.
• CBDC reduces money production costs by removing the need for paper or printing.
• Banks improve the speed of money exchange..
• It simplifies monetary policy and governmental operations.

Disadvantages of CBDC

• Users may sacrifice some privacy with CBDC.
• As a digital currency, CBDC is vulnerable to cyberattacks, leading to potential loss of funds or sensitive data.

Stored Value Cards

• Stored value cards, unlike credit cards, store a set amount of currency and are usable until the value reaches zero.
• Closed-loop cards are loaded with a monetary value once and are similar to a gift card
• Open-loop cards can be repeatedly loaded, such as college cafeteria cards.

Advantages of Stored Value Cards

• Stored value cards prevent overspending because it has a limited amount unless recharged.
• Some stores have minimal requirements to use such as credit checks or balance checks.
• Using stored value cards does not affect credit history, because it has anonymity.

Disadvantages of Stored Value Cards

• Stored value cards may have inactivity fees.
• These cards usage does not build credit making individuals prefer not to use it.
• Closed-loop cards limit purchasing power.
• It may be cheaper to reload cards than purchasing new items with credit cards/cash.

Impacts and Risks of Digital Currencies

• Regulations should be in place as cryptocurrency can encourage tax evasion and money laundering, as well as affect banks profits.

Data Mining

• Data mining is a form of analysis and artificial intelligence used to identify trends and patterns from large data sets that are stored in data warehouses
• Sheer volume gives computers the advantages for data mining.

Business Understanding

• Determine the business's aim to achieve with the data, understanding the goals.

Data Understanding

• Comprehend obtainable data and its structure

Data Preparation

• Organize and refine data for analysis through data correction.

Data Modeling

• Use appropriate techniques to create models that identify patterns or make predictions.

Evaluation

• Assess whether models are effective and goal-oriented.

Deployment

• Implement the findings to bring insights to the business.

Business Understanding (Stage 1)

• Identify the business goals and their impact.
• Situation assessment determines what needs to be achieved or solved.
• Then the goals are defined, to find objectives to overcome.
• A plan is established to make a roadmap for the data mining process with tasks and deadlines to achieve business objectives.

Data Understanding (Stage 2)

• Collect initial data to explore available information and documenting it.
• Sources are listed where the data has been gathered.
• Data quality is verified to identify any issues that need to be addressed to check accuracy.
• Identify variables, which may impact analysis and decision making.

Data Preparation (Stage 3)

• Data selection occurs as you choose relevant data from available resources.
• Data cleansing corrects errors, inserts missing values, and removes incorrect/inconsistent data.
• Data transformation makes sure construction and formatting of data makes them suitable to the business structure.
• Patterns are allowed as trends can be established in the business needs.

Data Modeling (Stage 4)

• Appropriate data mining algorithms must be selected based on the type of business problem.
• Models are created through selected algorithms to run on old selected data.
• Model parameters are adjusted to improve accuracy and performance.

Evaluation (Stage 5)

• Models are evaluated by assessing the performance and how well it meets the defined goals and objectives.
• Results are construed to understand insights generated and to see new patterns.
• Models are compared to identify the best effective one.
• Adjustments are mad to models if it is not satisfactory.

Deployment (Stage 6)

• Models are implemented into the business for practical use.
• Performance is monitored and documented including final results being reported to stakeholders.
• Review the results in order to check for errors.

National Security & Surveillance: Data Mining Uses

• It is used to analyze data to find patterns, predict threats and take proactive measures.
• Data mining is used in identifying terrorist threats, cyber-attacks or other criminal actions.
• Communications are monitored with keywords to find patterns and authorities can check for suspicious activity.
• Predictive analysis helps predict a security incident, using patterns and criminal records.
• Border security identifies individuals who may pose a threat using travel records
• Recognize cyber attacks to protect computer systems.
• Recognizes through mining data from footage or airport check-ins.

Business Uses of Data Mining

• Businesses use data mining to understand customers to gain an edge against competitors.
• Predict customer's needs to create items to cater to them.
• Customers can be targeted to be more likely to take interest in the business.
• Predicts trends by restocking items and creating similar items.
• Better sale strategies can be made by predicting when and what customers are buying.
• Helps spot fraud by stopping orders through certain credit cards.
• Improve customer service by analyzing feedback.

Scientific Research uses Data Mining

• Research processes are sped up by big data mining.
• Helps doctors to understand different medical treatments and improve patient care.
• Environmental studies can track climate changes and protect endangered animals
• Understands what customers want to make better product strategies, and analyze reviews.
• Educators can research for data to understand how students learn through studies, and habits.
• Genetic data is used to discover DNA and health.
• Detect new stars and galaxies to help gain information about Space.
• It is used to study trends by analyzing social media and surveys.

Healthcare and uses of Data Mining

• Data mining smartens decisions and personalizes medical treatments.
• Medical records help doctors identify illness
• Data of one person can help to tailor treatments to them.
• Analyzes pharmaceutical needs to discover, develop and have more efficient drugs

Data mining can...

• Manage costs, and improve better care
• Isolate patients due to readmissions and preventive measures
• Detect false billing and prescription billing.

Data mining in social and economic trends...

• Data mining spots patterns to predict trends.
• Can show consumers what people are buying.
• Can predict future markets and indicators.
• Can identify trends in culture by looking at social media posts
• Show employment rates, job markets, economical declines to make better planning for issues.
• Changes in a market such as property, and rental trends can happen through real estate analysis.
• Public health trends can spot diseases or effectiveness for campaigns.
• Helps to Assess environmental data, and the levels of population.

Ethical and Private Concerns

• Since there is privacy invasion, data such as personal habits, activities and medical information can feel invaded.
• Data security can be hacked which can lead to a data breach.
• There can be misuse of information when declining a loan, job or service.
• There is bias when algorithms can make unfair assumptions.
• Privacy consent can be unethical to use peoples info.
• It is hard to read understand data mining and cause distrust.

Advantages of Data Mining

• Allows companies to maintain or increase revenue.
• Create products, and understand their customer.
• Able to make marketing to the consumers taste.

Disadvantages of Data Mining

• Software tools, and skilled staff is mandatory.
• Many see it as unethical to data mind.
• Data is very expensive to store.
• Great security issues from hackers
• The outcomes are only past data based predictions.

Social Networking Services/Platforms

• Social networking permits communication using websites and applications.

Chat Rooms

• Chat rooms allow users to chat, accessible to anyone or private with invitation links and passcodes of any location with internet.
• Emotes, links and images are able to be sent, it happens text only.
• People can use chat rooms to discuss topics, exchange, or socialize.
• They can be used to introduce, test review items or support chats, and messaged are visible to members.

Instant Messaging

• Instant messaging exchanges text messages instantly over the internet with fast communication with multimedia such as images.
• Most instant messaging can have a report feature of who has read their message, online now and receive notification.
• There friend list also block and encrypt messages.

Forums

• Forums is a website discussing by posting like a digital board, and message replies happen in a structured manner.
• It is used for sharing by connecting with user interests such as support groups.
• There are moderators to remove posts and the messages allow to reference and access past threads.

Email (Electronic Mail)

• Digital communication method, where users receive over the internet with unique addresses to give precise delivery over subjection and attach documents.
• There are folders to organize sent and received, including spam filter and encryption to enhance privacy.

Blogs

• Online journal website where articles are shared and share users experience in reverse chronological order.
• Besides text can include other media to increase the reader's experience to interact.
• Started as a personal diary and corporate business to significantly influence online.

Microblogs

• Microblogs let users share brief and concise updates, typically in the form of short text messages with a character limit imposed.
• Users can share real-time information quickly and help maintain the followers.

Social Media

• Platforms let users make content using technologies through communities by connecting through multimedia.
• Social media has become part of digital communication, letting organizations connect with audience.

Education Uses of Social Media Platforms

• In chats, students collaborate on projects
• Virtual classrooms and groups can be made
• Quick discussion can be made through messaging.
• Institutions use the media for internal communication.
• In forums, students can share knowledge.
• Sharing knowledge is done between educational institutions.
• Students communicate through emails and organization.
• Blogs are for individual creative writing.
• Shared updates can be done.
• Updates of events are announced.
• Network with others.
• Social media is used for outreach.

Financial Uses of Social Media Platforms

• Market trends discussed.
• Collaboration is done by chatting.
• Message can be made for financial query
• Coordinate in messaging for firms.
• Discussions on forums by investors.
• Forums engagements for funds.
• Communications are made with institutions through email.
• Communication for market analysis are in blogs.
• Updates through blogs.
• Announcements are made through media.

Health Care Uses of Social Media Platforms

• Patient are in support chat roons.
• Internal communication.
• Health queries via messaging
• Coordinate patients.
• Knowledge is exchange through forms.
• Sharing of experiences.
• Blogs updates are made
• Healthcare education
• Brief health tips for updates
• Awareness institutions.
• Find related pages.
• Make healthcare awareness to a broad audience.

Information Uses of Social Media Platforms

• Real-time on events.
• Chatting for internal news.
• Messages of alert through texts.
• Real time communication
• Individuals have discussion for topics.
• Forums for news outlet.
• Subscribe to email to receive regular updates
• Using blogs is used fro extended views.
• Outlets for opinion blogs

Mini-blog Uses of Social Media Platforms

• News are found for a quick update
• Breaking and quick news for agencies
• News pages are used for news.
• Disseminating News Agencies and for a wide audience.

Government Uses for Social Media Platforms

• Citizens discuss real time.
• Internal goverment

Instant Messaging

• People reaching out to the a specific governor

Intellectual Isolation

• When an individual does not get to hear idea or opinion.
• Content has shows based on user preferences.
• It allows connection to like minded individuals.
• Selective exposure.
• Limits a wide access of ideas for communities.
• Use what confirms only their beliefs
• Negatives impact polarization by reducing engagements.
• Face to face interactions leads to not deep conversations
• Agreeing with the popular internet causes intellectual thinking.

Health Uses of Social Media Platforms

• Physical Health-Excessives creates behaviour
• Disturbs sleep
• Eyesore and discomfort
• Cyber bullying causes negative feedback.
• The different lifestyles lowers there self esteem.
• Causes stress to follow up to date.
• Continuous looking at updates due to FOMO is a mental well being.
• Reduce work life balance with professional and personal work.
• Cognitives happen with information overload.
• Leads to isolation where feelings are not expressed.
• Potential checks that come from work online

Ideological Polarization

• It's when people drift apart due to beliefs, causes a lot of people to become more unlikeminded.
• Echo chambers are built fro networking.
• Limiting expressions
• Selective Content happens
• User manipulated can happen.
• Individuals can start joining groups

Stereotyping

• Thinking what a group of people are like even if it's wrong.
• Intense surveillance can happen
• Extreme and readers.
• Avoid face to face

Cognitive Issues

• Refer to mental challenges such as thinking, memory, problems
• Fatigue, concentrate and span.
• Hard to retain from all the content online
• Multitasking divide the attention
• Impacts self esteem by comparing.
• Creates anxiety and cognitive

Advantages of Social Networking

• Communication
• Sharing to those who share opinions

Social Networking

• Critical situations can allows organizations to show saving information
• To make living writing online
• Seek advice and support
• Has streams for entertainment
• News stories that happen that could not have been seen by the public.

Social Networking Risks

• Information can be overwhelming
• Exclusion can cause others to seem better.
• False representation cause censoring
• Make people do harmful things such as excessive workout.
• Contributions can be incorrect.
• Difficult to pay attention
• Fake News being reported
• Illegal activity to be done as there's anonymity if there was thought.
• Impact of Media, news, businesses and orgs

IT Impacts

Sports

• Referee assistant helps to see football accurate decisions.
• Ticketing is easier to do and control.
• Fitness tracking to track physical performance and conditions.
• Improve broadcast quality
• Improves in stadium and better connection.
• Training Sim, for Planning
• Data management, for players and stats.

Manufacturing

• Robotics for speed and precision
• Printing to make rapid parts
• Monitoring through real time tracking
• Auto makes the IT increased
• AI can help design effective objects
• Makes sensitive and product

Healthcare

• Wear devices to track diabetic and alert
• Made with fuller lives.

Tech and Support

• Nano techs to help treatment, for better treatment.
• Help with questions by helping.
• Platforms keeps record.

Education

• Visually appealing with interaction
• Accessibilities with books
• Perspective with gaming
• Upload tests to keep progress
• Learning online

ATM Banking

• Deposit with banking
• Secure payment and stores payment information
• Statement for updates
• Manage money with paying

Tech and Support

• Online 24.7 for customer support.

E- Business and Finance

• Way to buy goods and service from online.

News

• News has quick access around the world

Tech and home

• Set time to heat or cool

Goverment

• Awareness issues for vote or support
• Documents needed

Monitering and Survilliance

• Police can locate when needed.
• Facial rec soft can check up on footage.

Comupter Based Training (CBT)

• Learning to deliver the content
• Self - paced learning.
• Multi-Media

Learning

• Management chunks steps.
• Help keep progress.
• Multi times content.
• Consistent delivery and users.
• Can learn from anywhere.

Advantage's to Social Media Platforms

Disadvantages of CBT

• May not have assistance
• Not motivated and attention.
• Decrease motivating boring

Online Tutors

• Teach how to achieve goals
• Text Videos and audio
• Learn and time.
• Internet is affordable.

Advantages of tutoring

• Greater assistance than otherwise

Tutors Access

• Convenient from studying
• Easy contact for questions
• Easy shared ideas
• Tutorials can be replayed
• Instant feedback

Networked courses

• Connect and support and tutors
• Devolps realationships It helps cause more people.
• Activities live session with self paced.
• Virtual learning sessions Can join anytime

Big Online Courses (MOOC)

• Large scales
• Provide interest
• Lectures available.
• Easy Tracks and Assisment.

Disadvantage to

• Can't do the full course material without technology access.
• Limit content.
• Can't self motivate

Connections

• Video call with other users.
• Real life connections.
• Can be recorded
• Display stream and connect.
• Depend on quality and soft.

Advantage to calls

• Easy to ask or ask.
• Help learn with motivation
• Share and help use.

Dis Advantage of Calls

• High Broadband needed
• Connection limited.

Student Achievements

• Used to find the learners
• Help respond to brief tests
• Fast and increase feedback
• Take the course at there own pace.
• Set their self ready.

Negativ Impacts

• Discussion and reduce work
• Students with less wont be able to fall.
• Hard internet

Impact on Teachers