Emerging Technologies

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Science

Description

The purpose of this exercise is to extend the material you learned during Science 101 to a developing topic. The topics are the emerging technologies of 2016 as stated by the World Economic Forum.

Your investigation will further explore the current relevance of the science principles, to include related ethical issues. Select an emerging technology from the list of emerging technologies prepared by the World Economic Forum and prepare a report on the emerging technology of your choice.

Pages 5-6 in total.

Once a person has been found I will submit which emerging technology.

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Explanation & Answer

Attached.

Running head: EMERGING TECHNOLOGIES

Emerging Technologies
Name
Institution Affiliation
Date

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EMERGING TECHNOLOGIES

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Introduction

Technology plays a critical role in addressing the world major challenges. For this reason,
scientists have continually worked to improve the technology both in type and inefficiency. The
Change in Technology represents the change in the world. In 2016 the world economic forum
developed a list of the emergent technologies considering some that have been in use but has
reached maturity during that period. One of such technologies is the Block Chain technology which
is behind the Bitcoin currencies, which has both economic and social impact to the people causing
a significant change in how the markets and the government works(Rifkin,2016). The purpose of
this report is to define the scientific principle and the ethical issues that are related to it.
Executive Summary
The Block-Chain technology which is the principal foundation of the digital currency
Bitcoin is a great discovery of the 21st century. The Bitcoin is a cryptocurrency which is a
worldwide payment system that is decentralized with no single administrator such as a central
bank. Individuals and companies create a Bitcoin account which upon activation within a short
while the individuals can make a transaction in form of these cryptocurrencies. The transfer of
funds is recorded in mathematical techniques borrowed from cryptography which are secure and
verifiable. This technology is an open technology in which other applications can be built where
considerations of lowering the cost of the transaction are of great importance. The Blockchain
technologies allow individuals to make online purchases such as an insurance policy as well as the
exchange of money without a bank account. This means that the technology may threaten the
future of professional intermediaries in the long run however greatly reducing the costs of the
transaction in their own transactions since these professional institutions incur a lot of expenses as

EMERGING TECHNOLOGIES

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transaction fees. This will save these institutions billions of money as the Block Chain technologies
continue to advance.
The most attractive aspect of this technology to large technological corporations is its
potential to address privacy and security problems. However transacting indi...


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