IT in Society

Digital Currency

  • Understand:
    • Types
    • Characteristic
    • Advantages and disadvantages
    • Uses
    • Impact of digital Currencies

Types of digital Currencies

  • Digital Currency is money that only exists as electronic data (i.e. no exchange in physical form)
  • Includes:
    • Government/centralized issued:
      • Stored value cards
      • Central Bank digital base currency (CBDC)
      • Virtual Currency
    • Decentralized:
      • Cryptocurrency

Characteristic of "traditional" currency

  • Centralized, issued by authority (e.g. Government)
  • Virtually unlimited amount (depending on policy)
    • https://ycharts.com/indicators/us_dollar_to_venezuelan_bolivar_exchange_rate
  • Transaction done by "central", e.g. bank, paypal, which often take transaction cost
    • e.g. SWIFT, a group formed by international banks, allow fundings to transfer between banks worldwide. Takes about 3-5% for each transaction
    • VISA is also centralized financial system
  • The flow of money can be tracked as accounts registration require real identity

Research the definitions for those types of digital currency.

Give one example of each of them. 

Characteristic of Cryptocurrency

  • (Usually) Decentralized, not maintained by central authority
  • Immutable, in theory impossible to have fraud transaction or altered record
  • Anonymous
  • Limited amount - the more to "mine" the more difficult to mine

Usage of cryptocurrency

  • Cryptocurrency Wallet, that stores the code for the currency you own
  • Usually there's a master "code" (like password) to access to your wallet. Nobody can retrieve the money if lost. 
    • https://www.businessinsider.com/bitcoin-owner-who-lost-password-made-peace-potentially-huge-loss-2021-1
  • The "Transaction" is a record which will be added to the blockchain network

Data Mining

  • Understand:
    • Process
    • Uses
    • Advantages and Disadvantages

What is data mining?

  • Data mining is a process of extracting and discovering patterns in large data sets
  • Involves statistics, database system, and recent years machine learning

Process of Data Mining

In group of 3, study one of the stages in Data Mining

Visit the following website:

https://www.sv-europe.com/crisp-dm-methodology/

 

Try summarizing the assigned topic

Step 2: Bring back the result to group of 6, summarize the finding and report to the group

Use cases in data mining

  • National Security
  • Surveillance
  • Business
  • Scientific Research
  • Health Care
  • Social and economic trends

Identify the advantages and disadvantages of each use case

  • Remember data mining involves gathering a lot data
  • Which privacy and ethical are always one of the major concern

Compile the list in the form of a table

Use How/example Why + adv Disadv + concerns

 Technology enhanced learning

  • Understand:
    • Methods of delivery
    • Impact
    • Advantages and disadvantages of
      different methods of delivery

Methods of Delivery

  • Software based training method
  • Video sites for tutorials (incl. podcast)
  • Video Conferencing

Software based

  • An example will be Khanacademy
  • Learners can learn at their own pace, redo or replay if necessary
  • Usually the work is checked automatically by computer, although some mixed approach may have teacher or tutor grading the work
  • Some possible form:
    • Linear presentation: the course is set in linear fashion everyone is the same from start to end
    • Linear with pre-assessment: learners takes pre-assessment and personalized course is created from a number of modules
    • Non-linear: learners next experience depends on their progress 

Video sites for tutorial and video conferencing

  • Features, benefits and disadvantages?
  • can be paused and saved for later, accessible anywhere and anytime
  • cheaper
  • saves time and resources
  • allow users to learn on demand and when they are motivated
  • International time zones
  • technical problems
  • Inability to focus on screen
  • lacking of interaction between students

MOOC -
Massive Open Online Courses

  • Unlimited learners and open access (using web)
  • On top of traditional course material (video, notes etc.) it offers:
    • Forum / Social Media platform to allow interaction between students and lecturers
    • Tutor feedback on quiz and assignment
  • Very popular nowadays
    • many University offers distance learning degree program using MOOC model 

Homework

  • Mondly and Duolingo are two most popular language learning application nowadays, discuss:
    • The method of delivery
    • Advantages of using it to learn language
    • Disadvantage comparing to face-to-face language learning
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