Web 4.0, Cryptocurrency and Cashless Transactions, and Corporate Social Responsibility

Web 4.
0, Cryptocurrency and
Cashless Transactions, and
Corporate Social Responsibility
Chapter 5- GE 2- Technopreneurship
Topics
CSR
Network money
Cryptocurrency
Bitcoin
Cashless transactions
Objectives
Conduct a thorough analysis on the
current CSR issues in the corporate world.
Create an assessment in the cashless
transactions methods used in the
Philippines.
Explain the importance and usage of
network money, cryptocurrency, and
bitcoin.
What is CSR?
What is CSR?
Corporate social
responsibility (CSR) is a self-
regulating business model
that helps a company be
socially accountable—to
itself, its stakeholders, and the
public.
What is CSR?
By practicing corporate social
responsibility, companies can
be conscious of the kind of
impact they are having on all
aspects of society, including
economic, social, and
environmental.
What is CSR?
Through CSR programs, philanthropy,
and volunteer efforts, businesses can
benefit society while boosting their
brands.
CSR activities can help forge a stronger
bond between employees and
corporations, boost morale and help
both employees and employers feel
more connected with the world around
them.
What is CSR?
Corporate social responsibility is
important to both consumers and
companies.
Corporate responsibility programs are a
great way to raise morale in the
workplace.
For a company to be socially responsible,
it first needs to be accountable to itself
and its shareholders.
Why should a company implement CSR?
Why should a company implement CSR?
Many companies view CSR as an
integral part of their brand image,
believing that customers will be more
likely to do business with brands that
they perceive to be more ethical. In
this sense, CSR activities can be an
important component of corporate
public relations.
What Is Electronic Money?
Electronic money is currency that is
stored in banking computer systems.
Electronic money is backed by fiat
currency, which distinguishes it from
cryptocurrency.
Various companies allow for transactions
to be made with electronic money, such as
G Cash, PayMaya or PayPal.
The prevalence of electronic money
has led to the diminishing use of
physical currency.
Although electronic money is often
considered safer and more
transparent than physical currency, it
is not without its risks.
How Electronic Money Works
Electronic money is used for
transactions on a global basis. While
it may be exchanged for fiat currency
(which, incidentally, distinguishes it
from cryptocurrencies), electronic
money is most commonly utilized
through electronic banking systems
and monitored through electronic
processing.
Special Considerations in Network/
Electronic Money
Special Considerations in Network/
Electronic Money
Currency in Circulation
Electronic Payment Processing
While physical currency is still advantageous in

certain situations, its role has gradually
diminished over time. Many consumers and
businesses believe electronic money is more
secure and convenient because it cannot be
misplaced, and it is widely accepted by
merchants nationwide.
Criticisms of Electronic Money
Criticisms of Electronic Money
Fraud becomes an issue when money can be
transferred from one party to another without the
necessity for the physical verification of the original
owner’s true identity.
Electronic transactions also lend themselves to being
more discreet and, thus, easier to hide from the IRS,
making electronic money a potential and unwilling
accomplice to tax evasion.
Lastly, the computer systems that are responsible for
carrying out electronic transactions are not perfect,
meaning that electronic money transactions can
sometimes go awry simply due to system error.
Cryptocurrency
What Is a Cryptocurrency?
A cryptocurrency is a new form of digital
asset based on a network that is
distributed across a large number of
computers. This decentralized structure
allows them to exist outside the control of
governments and central authorities.
The word “cryptocurrency” is derived
from the encryption techniques which are
used to secure the network.
Blockchains, which are organizational
methods for ensuring the integrity of
transactional data, is an essential
component of many cryptocurrencies.
Many experts believe that blockchain
and related technology will disrupt
many industries, including finance and
law.
Cryptocurrencies face criticism for a
number of reasons, including their use for
illegal activities, exchange rate
volatility, and vulnerabilities of the
infrastructure underlying them. However,
they also have been praised for their
portability, divisibility, inflation
resistance, and transparency.
Understanding Cryptocurrencies
Understanding Cryptocurrencies
Cryptocurrencies are systems that allow for
the secure payments online which are
denominated in terms of virtual "tokens,"
which are represented by ledger entries
internal to the system. "Crypto" refers to
the various encryption algorithms and
cryptographic techniques that safeguard
these entries, such as elliptical curve
encryption, public-private key pairs, and
hashing functions.
Types of Cryptocurrency
The first blockchain-based
cryptocurrency was Bitcoin, which still
remains the most popular and most
valuable. Today, there are thousands of
alternate cryptocurrencies with various
functions and specifications. Some of
these are clones or forks of Bitcoin, while
others are new currencies that were built
from scratch.
Some of the competing cryptocurrencies
spawned by Bitcoin’s success, known as
"altcoins," include Litecoin, Peercoin,
and Namecoin, as well as Ethereum,
Cardano, and EOS. Today, the aggregate
value of all the cryptocurrencies in
existence is around $214 billion—Bitcoin
currently represents more than 68% of the
total value.
Some of the cryptography used in
cryptocurrency today was originally
developed for military applications. At
one point, the government wanted to put
controls on cryptography similar to the
legal restrictions on weapons, but the right
for civilians to use cryptography was
secured on grounds of freedom of speech.
Cashless Transactions
Cashless transactions help to
reduce the risk of fake currency
and cut down the printing cost by
large.
Cards and mobiles are handier
and easy to carry which take less
space as compared to cash.
Risk of robbery and theft will be
reduced automatically if there is
less cash in wallets but the case
of theft and loss of card can be
get blocked by just calling the
card company.
The cashless digital transaction
offers numerous cashback offers
in-kind or points.
It is the easiest way to keep the
record of your expenses with a
history.
Web 4.0, Cryptocurrency and
Cashless Transactions, and
Corporate Social Responsibility
END
Chapter 5- GE 2- Technopreneurship

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