Moving towards a cashless society Essay Example for Free

Moving towards a cashless society Essay In history there was no money but people used to evaluate commodities in monetary terms. People used to make trade of goods for goods that could be estimated to have same monetary value as waved. The person who wanted to buy some commodity could make estimates of the commodity the seller has and compare its value in terms of worthiness to the commodity of exchange. Money was later invented as a tangible form that includes paper and coin. Transactions were all handled in monetary value and different currencies were also put in place for different nations. Different rates were also set up to be able trade efficiently on different currencies. Cash became the day to day ways of trading were one had to have paper money so that they could be able to acquire whatever they want. Banks were developed for easier and safe storage so that no one could get hold of in illegally. Cash or money has the following advantages like that the mode of payment is easier and simple because no so much transactions are made. Counterfeit money is also easy to detect and systemic risks are hardly a problem. There is no paper trail and is a peer to peer mode of payment. It also introduced lots of problem like theft and counterfeiting of paper cash. This led to the revolutionary of cashless society by introduction of cheques where people no longer carry cash but writes cheques that authorizes withdrawals and payments in terms of cash. (Thorndal, 1994) Traditionally deposits have been used for payments at a distance. Deposits can be transferred in a number of ways: payer initiated transfer, direct debit, standing order, check, credit card. With distance to distance payments or mode of trade the demand for are more fast and effective ways of communication and trade came into place. The introduction of ATM card was introduced by the banks to enhance trade. People no longer had to carry cash but could make withdrawals through these cards. The electronic cash system came into place where people can buy things over the internet using cards as a form of electronic commerce. This electronic cash system involves use of cards that have been categorized as credit cards, electronic cash and smart cards. The credit cards involve creating an encrypted channel for use of cards for internet like VISA or MasterCard. Electronic cash uses specially designed software where customer buys electronic cash for digital wallet then sends as payment to merchant. Examples are DigiCash and CyberCash. Smart cards include contact less and swap cards like MasterCard, Visa, Quicklink, VisaCash, Protonn and Danmont. The growth of payment cards reflects their attractiveness to consumers over other forms of payment and credit. Payment cards offer consumers numerous benefits, including better management of one’s expenses, improved recordkeeping, greater shopping convenience, reduction of the risk of theft, float for those who do not revolve balances, rewards from use of cards that are available for additional purchases, and, especially for debit cards, convenience in obtaining cash. I first discuss these benefits and then consider the benefits of payment cards when used to obtain credit. (Wallace, 1983) Payment cards allow consumers to manage their money better by making it possible to anticipate, plan, and match their obligations to their available funds. The payment cards allow consumers to smooth out unexpected expenditures such as car repairs or family emergencies . Payment cards also reduce the costs of record keeping and retaining individual receipts. Checks also offer this advantage but payment cards do not require the additional inconvenience of recording in and then rebalance a checkbook. Payment cards can also reduce the time and transaction costs associated with shopping. Advances in technology have dramatically increased the speed of processing card transactions which are now substantially faster than writing checks. If the ATM is outside of the consumer’s network the consumer must pay a fee to withdraw the money. In contrast transactional users of payment cards pay nothing to use their card. Transaction errors, such as receiving too little or too much change, are also probably higher with cash than with electronic payment card transactions. Another advantage of payment cards is that payment cards can be used in a wide variety of outlets hence helping both consumers and merchants. (Krueger, 1999) Some Debit cards, PIN or online cards allow consumers to withdraw additional cash beyond the price of the purchase for which the card is used thus saving the use of ATM. Unsecured personal finance loans are expensive with much higher initiation fees than credit cards. Credit cards are attractive for consumers for both cost and convenience. General purpose credit cards have also substantially displaced retail store credit. We have also so many disadvantage of using payment cards. One of this disadvantage in that they are risky for customers because they cay be incur fraud easily. People can use your card and pin number once known to withdraw or use your money. Credit cards are also expensive to acquire because they are costly. Payment cards are only acceptable by registered merchants and hence are not applicable everywhere. Card users also incur high interchange fee and cost while transacting using this payment cards. (Prinz, 1999) Specific regulations need to make a cashless society of cards work smoothly. Regulation in the payment card need to be set due to the claim of interchange fees are too high and as a result reduces consumers to overuse payment card. Interchange fees arose from the structure of the Visa and MasterCard networks. Visa adopted a fixed interchange fee which was not linked to the merchant discount charged by individual acquirers. A uniform fee reduced the transaction costs of negotiating separate interchange fees between acquirers and issuers and eliminated the difficulties that issuers faced in monitoring in the merchant discount set by the acquirers. Visa and MasterCard reduced the interchange fees charged to supermarkets hence reducing the merchant discount. Some regulations were also imposed on regulating card frauds that many banks face. Fraud card detectors have been setup and laws governing the enactment of the card fraud have been set to punish those fraudsters. The winners of the cashless society are the consumers or users of the cards because they have been absorbed from the risk of physical theft of money. Even though there are fraudsters, the users are not exposed to so much risk of theft. Card users can effectively purchase things online regardless of the distance because all transactions are done to the and at a very high speed. The losers are the merchants or company providing this services because the have to incur all the expenses of setting up this technology and infrastructure. Lastly they incur the problem of making all transactions possible regardless the distance and parties involved. The merchants incur all this cost and expenses in this cashless society. (Buiter, 2005) Reference Buiter, W (2005): New developments in monetary economics: Economic journal, Vol. 115 Thorndal, J. (1994): Prepaid cards and monetary Review: Danmarks Publishers Krueger, M. (1999): Towards a Moneyless world: Dept of Economics and finance: University of Durham Press Prinz, A (1999): Money in the real and Virtual World: Netnomics journal. Wallace, N (1983): A suggestion for oversimplifying the theory of money: Economic journal

Ethnocentrism Essay example -- essays research papers

Webster’s dictionary defines ethnocentrism as â€Å"The tendency to evaluate other groups according to the values and standards of one's own ethnic group, especially with the conviction that one's own ethnic group is superior to the other groups.† When first reading this definition, one would naturally agree that ethnocentrism does exist in our world and society, often confusing it with patriotism. However, many do not realize that ethnocentrism is, has been, and continues to be a leading cause for violence in America. Different ethnic groups such as African Americans and Native Americans have suffered through years of violent crimes against them because of the white man’s ethnocentric views of themselves when compared with other races and cultures.   Ã‚  Ã‚  Ã‚  Ã‚  Ethnocentrism began to develop in America long before we were officially a nation. When Europeans first came to America and had their initial encounters with the Native Americans, the Europeans were so surprised about how different the Natives were. Their differences in language, dress, and skin color made them doubt that the Native Americans were even human. Stemming from this notion, the Europeans eventually began to consider the Natives as the â€Å"other† and felt that they were more civilized than the â€Å"others.† Amerigo Vespucci wrote that the Native Americans were â€Å"worse than heathen; because we did not see that they offered any sacrifice, nor did they have a house of prayer.† Consequently, these feelings...

4d Scheduling the Future of Planning?

4D Scheduling; The Future of Planning? The purpose of this paper is to provide the reader with an understanding of the concept of 4D Scheduling, how and where it is used, whether it is currently of benefit to the construction industry and can it revolutionise planning in a positive manner for small, medium and large scale construction Projects. What is it? 4D Scheduling is a Programme which allows the Project Plan to interface with 3D software and build a live model which displays the Project Progress in real time.The 4D planning tool is used at Tender and Preconstruction stages, kept live throughout the project and reviewed upon completion to assess Project Success. To understand how the Programme interfaces and accurately reflects progress we first need to define and understand Building Information Modelling. Building Information Modelling is a building design and documentation system based on coordinated, reliable, high quality information.This system enables the design and constr uction teams to create and manage information about a project consistently and reliably across the scope of the project. This information is stored in a unique model which ensures the information is coordinated, consistent and complete. Traditionally Building Projects were illustrated with manually created drawings, information was added to these illustrations by using motes and specifications. As CAD technology progressed this system became automated, though the output remained the same.The development of the Building Information Modelling methodology has created a new way of thinking and working. It gives us ability to model with objects and minimizes tedious drafting by allowing one 3D object handle multiple 2D representations when placed in an object. The coordinated data represented in the model allows us to visualize and analyse designs and make better informed decisions. Building Information modelling supports large team workflows to improve project understanding and enable t he team to predict more likely outcomes.The visibility which the BIM provides to all Project Team members contributes to the overall success of the Project through better coordination, improved accuracy and an ability to make informed decisions earlier in the Project. 4D BIM uses 3D CAD or 3D modelling and links individual 3D parts or assemblies with the project delivery timeline to add time; the fourth dimension, to the BIM. This management technique vastly improves the project management and delivery of construction project of any size or complexity. 4D Scheduling/ModellingA 4D model incorporates a 3D/BIM with a Project Schedule so that all Stakeholders can visualise the sequence of Construction. The model may be created to varying levels of detail, from high level zone analysis during the design phase( this can be useful for allowing foremen, area owners and Health and Safety agree on areas of responsibility and ownership), to detailed breakdowns for use by subcontractors so they can coordinate their own activities during construction of a project. This same model can be updated and maintained through the duration of the project based on an updated schedule and 3D model.The 4D elements are created by linking pre made 3D components to an activity in the Project Schedule. For example Task 1 is to erect 400m of Perimeter fencing. For every 10% which is completed on the Project Schedule, 40m of fencing will appear on the graphic. One aspect of 4D scheduling which is of particular aid to Planners is that it allows them to visualise a related sequence of activities in the construction process which may not have always instantly have occurred to them, such as changing location of traffic lanes and set down areas as buildings appear on a large site, or the changing locations/restrictions of swing space for cranes.Like an actual event or construction stage these non visual type activities require both start and end dates in the schedule linked to 3D components so th at they can be visualised in the model. 4D Scheduling in the Project Life Cycle; Though one of the most attractive uses of 4D (which I will detail later in this report) is at the bidding stage, there are three main stages of utilisation for the 4D model, Design, Tender and Construction. Design; 4D models can be used to determine , different configurations to Lay Down areas, Compound ownership, and Swing space for cranes to optimise the Project Layout and Project Schedule.The model will allow for multiple alternatives which can be assessed in detail at relatively low cost. It can also allow the designer to provide alternatives to the original brief which can show how to crash the project schedule, and the effect can be shown visually with workflows , or the impact of external traffic to the site during peak hours can be assessed. Tender/Bidding; The 4D model is fully utilised at this stage to demonstrate the Contractors ability to understand, direct and execute the brief and instil c onfidence in the client that the Project will be delivered on.The fact that time is linked to the 3D model allows the client to see the growth of the project and how all external factors have been taken into account and considered. It also generates a wow factor and allows the Contractor to stop and breakdown in detail different tasks at any stage of the presentation. Construction; 4D models can be used for several aspects of Construction, its Coordination and regular milestone reviews. From identifying and communicating where, how and when different trades will operate, to understanding the traffic, site and workflow processes.The model can be used on site for progress reviews and compared to as built/scheduled plans, by the management for both milestone reviews, and indeed for claims purposes also. The overall model & Schedule can be broken down into individual components for communication between main and subcontractors, and also used for communication between subcontractors them selves. Where possible the Main Contractor will allow the subcontractor access to the schedule so that they can visualise, communicate and update as required. Another valid use of the model during the construction phase. Project Team & Implementation D modelling/Scheduling is a combination of both the design and the schedule, so it is crucial to have various members of teh Project team on board to design, schedule implement and maintain the process. The first step is deciding who will create the model and who will provide teh inputs. Typicially teh team can be broken down and defined as follows; 3D Modeller; Generates teh 3D model and updates as per design requirements. Scheduler; Generates the project schedule, timeline and provides updates. 4D Modeller; Links the 4D model, provides guidance to both the Scheduler and 3D Modeller for updates.Project Stakeholders; Provide inputs on their own requirements and constraints at different stages of the project. Project Manager; Though the Project manager does not require direct operational input or control of the 4D Model, they need to consider and understand a number of crucial factors; Software Integration; Some 4D Software may only support certain formats of schedules and models. The project team should be confident that the 3D model and the supporting schedule are compatible and can be imported to the relevant 4D software.Interface Issues; It is not a necessity for all stakeholders to create and edit the 4D model but it is beneficial for all stakeholders to view teh progressing model. Stakeholders may be allowed to view only teh required aspects of teh model which affects their work. This can be done by creating basic video files or animations that can be viewed by basic media players. Thus reducing teh outlay for smaller subcontractors on expensive software packages or licences where they may not be entirely required.

Causes And Remedies Of Water Pollution - 1596 Words

CAUSES OF WATER POLLUTION AND EFFECTS AND REMEDIES ABSTRACT Water is one of the necessities for existence of mankind. It is also one of the most abundantly available resources. But indifference of mankind and its abuse of the plentiful resource made water scarcity a problem for many nations around the globe. Water pollution is one major problem that demands utmost attention to deal with emerging water crisis. This paper is an attempt to describe various causes and remedies for water pollution. INTRODUCTION As stated by Wikipedia, Water pollution is the contamination of water bodies (e.g. lakes, rivers, oceans, aquifers and groundwater). Water pollution occurs when pollutants are directly or indirectly discharged into water bodies†¦show more content†¦The movement of the plume, called a plume front, may be analyzed through a hydrological transport model or groundwater model. Analysis of groundwater contamination may focus on the soil characteristics and site geology, hydrogeology, hydrology, and the nature of the contaminants. A number of contaminants are responsible for ground water contamination including a wide variety of chemicals and pathogens. Most these lead to reduction in normal oxygen content in water and hence make it unfit for consumption. Many areas of groundwater and surface water are now contaminated with heavy metals, POPs (persistent organic pollutants), and nutrients that have an adverse affect on health. Water-borne diseases and water-caused health problems are mostly due to inadequate and incompetent management of water resources. Safe water for all can only be assured when access, sustainability, and equity can be guaranteed. Access can be defined as the number of people who are guaranteed safe drinking water and sufficient quantities of it. 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