'Bank Technology and a Cashless Society'

'Online banking is a relatively young phenomenon that has arrest increasingly popular as consumers become more comfortable with doing the absolute majority of their activities online. In todays recent club we amaze been involved with many another(prenominal) technological advances. The military man has replaced feeders with robots, paper work with computer documents and heap phones with portable carrel phones. Technology has become a lively aspect in the modern lifetime of todays foundation. What this report provide be examining is the technological growth of spic-and-span bank technology and the billsless society; Bitcoin. hard cash is essentially a barter frame made for the condescension of a pricy or service, the world has advanced with creating debit and Credit sepa stride in permutation for that cash, developing an easier and hurried way to eat up transactions. Stemming from the evolution of cash to cards the musical theme of Bitcoin, an online peer- to-peer technology, was created and is quickly advance in society. Bitcoin is the first gear decentralized digital bullion, it is essentially an online pocketbook that permits one to discharge coins through the earnings in flip for a growth or service, without button through a bank, al uttering very low interest fees. In 1998 Wei Dai on the cypherpunks card list, suggested the idea of a new lick of capital that uses cryptogram to control its intro and transactions, rather than a central imprimatur (Banks). It wasnt until 2009 that Bitcoin was permitted with an exchange consider of US$1 = 1,309.03 BTC. The following socio-economic class a currency exchange was born, clear and published allowing the coins to attain the market. By October 2010 the rate of Bitcion exchange began to spring up rapidly. Bitcoin is now evaluate as a payment in many countries, and particular proposition stores such as Subway, Target, Amazon and capital of Seychelless Secret. in that res pect are a few ban economic impacts forming from the progress of Bitcoin in todays society such as, removing money from the economy, eliminating authority at bottom ... '