So it gives the banks more difficulty to control the money. As another concept of cryptocurrency, the people can make the payments by using cryptocurrency anywhere and anytime as long as there is an internet and they don’t have to waiting for bank opening hours for making the payments which is traditional one. In recently in Thailand, there are many banks are closing down because of cryptocurrency and AI because the employees can be replaced with AI and cryptocurrency can be replaced in some transactions. Both of them are disruptive technologies that affect on people living because both of them replace human labour in many industries that causes many people lose their job or
FEASIBILITY In the previous sections of this chapter there is the description of what is a cashless society, why we need it and what are its advantages and drawbacks that can be overcame. The next step is to understand how can be possible to become a cashless economy and what society and governments must do in order to grow into one. The objectives are, as stated earlier on, to get in the way of criminals obstructing them from carrying out large anonymous transactions through shortages of cash and gaining tax revenues that would not be collected if paper currency was still available. The transaction toward a cashless economy needs to be slow so that everyone can become accustomed to that and it will not be too much of a shock. Inclusion, also,
The current decline in mediating institutions is unsustainable because it creates a dangerous positive feedback loop of greater federal government power and individualism and weakens the very institutions that are necessary for creating a free society. Without middle institutions, people are left “without even local, interpersonal instructions to fall back on, since these have now been enervated for a century” (100). People now instead turn to government solutions instead of intuitions such as family, work, faith, and community. Increasingly, society can be viewed as “consisting only of individuals and a state” (100). This is especially difficult for low-income Americans as they are “more isolated- economically, culturally, and socially- than they used to be in America” (126).
It is difficult to implement the concept of zero working capital. The most of the Customers are reluctant to pay the advance, but may even demand delayed payment. It is seen that Suppliers usually offer industry-standard credit terms to their customers, and will only be willing to accept longer payment terms in case of higher product prices. It is difficult to accept a just-in-time demand-based production system in those industries where competition is based on immediate order fulfillment where on hand inventory is essential. Though there is no inventory in a service industry but there are plenty of employees, who are normally paid faster than customers are willing to
I think the negative side of consumer culture is that people get too focused on owning these items that they don’t really need, and often people waste their money on random items instead of necessities. Consumer culture also contributes to a large use (and waste) of natural resources, which many smaller, less developed countries lack. Though consumer culture is nice and is sort of a way to signify that people in a country are doing well, it also seems a little unfair when you look at how many countries don’t even have enough resources to help their people survive, meanwhile a large country is using all of their extra resources for things people don’t really need and instead just want for personal reasons. 2). If developing countries used natural resources like developed countries do, then natural resources would be used up much quicker than they already are.
Every ATM user is required to have a pin in order to secure their account. The pin is very important and you must not forget it because if you do, not only you would not be able to do transactions but working it out is such a hassle and if you try to guess your pin, 3 mistakes and the machine will swallow your card and it takes time to retrieve it. The great disadvantage that most users fear is if their card is lost or stolen. Although all ATM have tight security to help people in securing their money accidents
Most people are wasting their time and money on technology and not using it for its intended purpose. No matter how advanced Transportation has become, people still find a reason to complain about. Many rely on their cell phones too much and cannot function without them. Credit cards and ATMs have tricked us into spending our hard-earned money without even thinking twice. Life was much simpler before new technology has changed the way that we live forever.
Especially when their suppliers are huge and unaccommodating when it comes to small orders. Usually, meet up and going straight to the suppliers are more favored not just because supplier’s service is faster that way but also so that they can inspect the supplies thoroughly and avoid purchase return which will greatly enhance the efficiency of production. In addition to that, a number business owner usually does not hire personnel through Facebook because they may be incompetent or even fake. Fake Facebook accounts are widespread in today’s time and that makes hiring of employees (which business owners consider as critical) using Facebook is unreliable. Table 6 Negative Effects of Facebook Statements Mean Interpretation False information may be placed on Facebook to damage the reputation of the business.
When concerned with the realm of mass production, countries have been under an epidemic of purchasing myriads of products with relatively smooth sailing. This makes for issues when the focus is on a buy nothing day, that with the level of online marketing and buying, over consumerization is overlooked because it is seen as normal. On top of online marketing, wages also contribute to the implications of a buy nothing day. Wages factor into this equation by having the middle class, and upper class spend more on products than the rest of the world. So when they are asked to buy nothing, they would ignore it, simply for the reason that it provides no benefit to humanity.
In addition to this, this leaves a very bad impact on the company’s image in the market as the company falls back on its older system of marketing and promotion. Furthermore, companies need to realize the importance of upgrading the technology they have before implementing IMC methods. Without proper technology in place, companies usually fail in proper implementation of this theory. The importance of this can be seen from the fact that if the social media marketing team does not have proper access to internet, they will not be able to respond to the customer on time which will impact the company’s activities negatively. Hence, all the above mentioned facts form the known facts about the theory under