How do you respond to the following in at least two hundred words addressing any of the following
What is the paper’s thesis?
Do you agree with the paper’s main points? Are there some sources the author could have used to support his or her points more?
Do you disagree with any part of the paper, could you play devil’s advocate? If so, what sources would you quote to counter the paper’s argument?
Do you feel like the paper was misreading the points of any of the authors or taking them too much out of context?
Did the author properly set up the debate? Did the author leave out any voices he or she might want to address?
Did you feel lost in the paper at any time? If so, what did you find confusing?
Are there any questions about the paper’s argument that popped into your mind that you thought the paper could address?
Did the paper feel organized? Did you feel guided through the paper or did it feel like you had to figure out where it was going?
What parts of the argument did you feel were the strongest?
Do the introduction and conclusion do the job they are supposed to do?
For the following draft
The digital “new way” of using financial services is turning away from person-to-person interactions to a digital lifestyle. The software “fintech” and “blockchain” are the solar creation of how digital and printed currency are able exist today without a superior currency. Yet, with the ever-increasing demand of immediate service/s from the consumers, suppliers are being forced to trust “crypto contracting” to meet those demands. The major big push for digital currency started in 2009 with bitcoin. Bitcoin was becoming a digital currency threat to the “old way” of financial services, according to the public, nevertheless bitcoin is the first de-materialized currency to trade for monetary value successfully. However, the coronavirus pandemic pushes the toll on digital transactions to become the norm. The public was forced to accept the evolution of transactions, the digital transcripts as the new receipt and bank deposit slip. The purpose for the publics big push for the digital currency was when the coronavirus pandemic happened. People didn’t want a face-to-face encounter, at the same time remote habits rapidly became adopted i.e., telemarketing, payments, and banking to ensure contracts and goals but more importantly safety. The fungible plan is to make trading easier by including the consumer and their interest of value for an item. With fungibility, blockchain and fintech trading online structure and policy, with real time value exchange updates, helps online trading and valuing of crypto gain.
The “new way” of financing and banking transactions is by algorithms, which was inputted by a software called “Fintech” and “blockchain”. Fintech was introduced over a hundred years ago, in the 1860’s a guy by the name of Giovanni Caselli developed the pantelegraph.( The History of Financial Technology (Fintech) | GetSmarter Blog) Fintech is the use of technology to improve and automate the traditional delivery of financial services. (www.investopedia.com/terms) Fintech was designed for startups or small businesses to build a relationship with banks to fund their investments. Fintech was the solution for small business and amateur business adventurers reaching investments to rise like the big companies. It made the financial aspect of business with short income easier because the fundamental and irreversible change of banking infrastructure was the same. The digital trade on May 22 is considered the official date digital currencies were used to acquire government currency. An example of how fintech works is differ from “shadow banking” because they are not a currency issuer, being a technological channel for putting together the borrower with the lender, the investor with the recipient of the investment, namely P2P (peer to peer) and B2B (business to business), with a tendency to increased interest for B2B because the investment offer is broader.(1) The fintech strategy use algorithms to process transactions at a faster pace in real time than person to person interaction. As I see it, with all the rapid transactions and banking transfers of national and international currency, fintech software is the only forward step to completing the “new way” business is done digitally. The only problem in the future is that human to human connectivity will be lost.
The software of fintech and blockchain have shown solutions to dilemmas in the fast-paced world of transactions in real time. For example, during “the dilemma of the byzantine generals” where several army corps each commanded by a general have as common goal the siege of an enemy fortress and , for the coordination of the attack, they communicate through messengers who are likely to convey to each general the same information; but some generals are traitors and wish attack to fail; hence, to act in concert requires the production of a proof of work between all generals that would make the consensus possible. (2) I think blockchain is a means to turning hard copy work into hard digital transcript, for that reason blockchain has many different versions of meanings since blockchain the software is so wide. The simple, basic, and literal indication as drafted by Laurent Leloup, founder of Finyear Group and co-founder of Blockness startups, France Blocktech and Blockchain Valley formation center. With digital means becoming of the modern and future day or development, I agree with the founder and co-founder connation The simplistic definition of blockchain could be “a large ledger of accounts, open and accessible to all, for record and reading, divided on a large number of computers around the world.” The second basic definition of blockchain is “a software that stores and transfers values or data over the internet, in a transparent and secure way, without any interference of a central control entity.” The name precisely matches the function of blockchain which “designates the chain of blocks (numerical nodes) in which information of a multiple nature is stored transactions, contracts, ownership certificates, art works, etc.” A more detailed definition of blockchain is “the technology of a new generation of transaction applications which, due to the consensus mechanism coupled with the use of a large public ledger, decentralized and shared, provide trust, accountability and transparency, simplifying business.” Truly, blockchain is “a new database technology that makes full use of the internet, free protocol, computing power, and cryptography. This database of distributed transactions is comparable to a large book where each new transaction is recorded, following others, without the possibility of modifying or deleting any of them. The register is active, chronological, divided (between blocks), verifiable and protected against forgery by a trust system based on consensus among the participating members (nodes). Each member of the network may access in real time a copy of the register of his transactions with any other participant in the system.”(3) All in all blockchain is just that, chain of blocks. Being that Fintech uses algorithms, therefore “each block contains a record of a fixed number of transactions, and the blockchain is therefore a record of all transactions ever made.”
The new way of handling financial transactions is ever growing in modern day society, with the central bank’s using the “new way” of banking and trading via internet, in addition, I believe with immediate and instant gratification this generation is only going to propel the digital world. Forcing central and local banks to find a way to offer a safe and fungible digital alternative to crypto assets. Until we are able to find a commodity or strategy to back the digital currency, many with old habits are going to speculate about the new way but with the economy trading on a personal level around the globe and everything turning battery(technology) operated, natural resources are being depleted, furthermore, making the future of digital currency supreme to the printed currency because the natural resources will be gone. The public’s fear comes from not understanding how the crypto currency gets and loses value, even though digital currency isn’t backed by any tangible “true” currency or commodity, with the central bank’s backing the “new way” and offering a more stable value for digital currency to truly become the superior currency. Can digital currency sustain as a superior currency? With banks currently collapsing, the value of printed money to the public will decease while the value of digital currency increase.
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