An Educational Blog
Digital transaction: ___ ____ Prologue: History of banking dates back to 2000 B.C. Archaeologists believe that depositing and lending have always been human way of business and economy during renowned Roman, Chinese, and Indian empires. In fact, if we really think about it, there can actually be no trusted way of keeping earned money safe to be used when required other than a trusted group that also provides interest on such deposits. From that time banks and their ways have evolved tremendously. Computing revolution has been the biggest step forward here. For what was confined to signatures and psychical presence, has now been replaced by plastic money and virtual presence. John Shepherd-Barron, the Scotsman is credited with inventing the world’s first automated cash machine. Shepherd-Barron said once that he came up with the idea of the cash machines after being locked out of his bank. Plastic bank cards had not […]
NET NEUTRALITY: _ _ I am reminded of Abraham Lincoln’s remark: “The world has never had a good definition of the word liberty. We all declare for liberty, but in using the same word we do not mean the same thing.” Substitute ‘net neutrality’ for ‘liberty’, and that’s where we are today. The Internet has unleashed innovation, enabled growth, and inspired freedom more rapidly and extensively than any other technological advance in human history. Its independence is its power. Net neutrality means internet service providers (ISPs) should treat all data on internet equally. The ISPs have structural capacity to determine the way in which information is transmitted over the internet and the speed at which it is delivered. And the present internet network operators, principally large telephone and cable companies—have an economic incentive to extend their control over the physical infrastructure of the internet to leverage their control of internet […]
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