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LPC UTEC3015 spring 2019Coursework Brief UTEC3015 Understanding Technology Spring 2019 Coursework Brief Handout: Monday, XXXXXXXXXX, 9am Access via GSM Learn Deadline for Submission: Wednesday,...

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LPC
UTEC3015    spring 2019Coursework Brief
UTEC3015
Understanding Technology
Spring 2019
        
Coursework Brief    
Handout: Monday, XXXXXXXXXX, 9am
Access via GSM Learn
Deadline for Submission:
Wednesday, XXXXXXXXXX2pm
Submit this coursework through the Student Portal with a Turn-it-in Report
Word Limit: 1500 (Plus or minus 10%)
Learning outcomes assessed:
At the end of a module students will be expected to be able to:
1. Describe the scope of hardware and software cu
ently in use and the technological advances taking place;
2. Describe ways in which computing science and information technology can contribute to the sustainability of economic, human and natural resources;
3. Describe the relationships between digital computing networks and wider digital cultures and society.
UTEC3015 XXXXXXXXXXSpring 2019 Coursework BRIEF
This Coursework is worth 100% of the total marks for this module.
Coursework Instructions
Please read carefully
· Carefully read the module handbook, the marking criteria and the grade descriptors.
Academic Misconduct
You are responsible for ensuring you understand the policy and regulations about academic misconduct. You must:
· Complete this work alone except where required or allowed by this assignment
iefing paper and ensure it has not been written or composed by or with the assistance of any other person.
· Make sure all sentences or passages quoted from other people’s work in this assignment (with or without trivial changes) are in quotation marks, and are specifically acknowledged by reference to the author, work and page.
This is your Understanding Technology Portfolio. Please save a copy on your computer and back it up regularly (e.g. by saving it on your computer / in the cloud (e.g. Google Drive) / emailing it to yourself. At the end of the course, you need to submit a completed electronic copy.  
Blank
    Student Name
    
    Student Numbe
    
    Tutor name
    
Assignment Questions
Task 1(LO1, LO2, LO3): 1500 words
Virtual cu
encies and mobile banking are technological advancements that are receiving increased attention in the global community because of their accessibility, convenience and speed. However, this popularity comes with growing security concerns, like increasing frequency of identity theft, leading to bigger problems which put user anonymity at risk.
Your task is to critically analyse security concernsaround Bitcoin and other digital cu
ency systems.
You are required to deliver a report of 1500 words covering the following areas:
1. Review the cu
ent status of Bitcoin and other digital cryptocu
encies
2. Explain how is Bitcoin bought and sold?
3. Compare between the hardware and software versions of Bitcoin wallets
4. Describe the cu
ent trends in sustainability of Bitcoin andrelated Cryptocu
ency and Blockchain technologies
    Title:
    Bitcoin and digital cu
ency systems.
(word count: suggested 1000 words)
    
Task 2(LO1, LO2)
Prepare and deliver PowerPoint slides about the Bitcoin and digital cu
ency systems and applications based on your findings from your research in Task 1.
The PowerPoint is for employees in a fictional business to make them aware of theBitcoin and digital cu
ency systems, and applications that might affect their operations and might affect their business strategy.
Place screenshots from your PowerPoint into the portfolio below.
    Title:
    PowerPoint slides
    
Task 3
Write500 words self-reflection describing:
· What you have learnt from attending the module and how this has changed your perspectives on mobile technologies.
· How this will contribute to your future development within the mobile industry
    Title:
    Self-reflection
    
References
List all your references using the Harvard referencing style.
    
End of Assignment Brief
GSM LONDON    Page 1 of 8
Answered Same Day Feb 28, 2021

Solution

Soumi answered on Mar 03 2021
150 Votes
BITCOIN AND DIGITAL CURRENCY SYSTEM
BITCOIN AND DIGITAL CURRENCY SYSTEM
Cu
ent Status of Bitcoin and Cryptocu
ncies in the World
Cryptocu
ency originated in the form
of Bitcoin, in 2008
Bitcoin is banned in Nepal, Pakistan, UAE, Egypt, China, Iran, Indonesia, Bangladesh
In Japan and USA Bitcoin is allowed
Bitcoin’s value went down in 2018, where its prices reached only 25% of its previous value
The genesis of the cryptocu
ency in the form of Bitcoin, in 2008, has officially been the second generation of attempts for creating digital cu
ency; however unlike the previous generation of centralised digital cu
ency, cryptocu
ency has been decentralised and widely popularised for its convenience and the capability of avoiding double spending, which is a mandatory part of traditional financial systems.
As mentioned by Watson (2018), despite the gradual simplification and availability of the data about cryptocu
ency, especially Bitcoin, it still not properly assessed by majority of the people and due to the lack of centralised authority and high risk factors, it has been absolutely banned in countries such as Nepal, Pakistan, UAE, Egypt, while implicitly banned in China, Iran, Indonesia, Bangladesh, while in countries such as Japan and USA (Li
ary of Congress, 2019).
It is observed that in 2017, the value of Bitcoin increased many times, while its value went down in 2018, where its prices reached only 25% of its previous value. Considering the global events such as Brixit and hacker attack vulnerability in addition of personalised risks, Bitcoin along with Litecoin, Ethereum and Ripple are becoming very difficult to sustain and manage value (The Guardian, 2019).
Based on the cu
ent trend of cryptocu
ncies it can be said that there are too much risk involved in cryptocu
ency transaction and it is radically different than the traditional financial systems, which are the major reasons for its banning by reserve banks. However, considering the value cryptocu
ncies are capable of providing, it can be said that there is ample scope of growth although for which, the cu
ent condition have to be overcome at first.
2
Buying of Bitcoin
Step 1: Register on Bitcoin Exchange and Get Bitcoin wallet
Step 2: Make Payment for Bitcoin through banks or card
Step 3: Own Bitcoin equivalent to the payment
The buying process of Bitcoin is very easy and any person with ample monetary resources and a legal identity can buy Bitcoin or any other cryptocu
ency. As mentioned by Yaya et al. (2019), firstly, a person must create a Bitcoin wallet for registering him or herself in the Bitcoin Exchange. Once the wallet is created, using the regular cu
ency a person can buy the desired amount of Bitcoin, considering the equivalent amount he or she...
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