5.2 Smart-Technologies-and-the-Future-of-Digital-Currency-and-Payments

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Smart Technologies and the Future of Digital
Currency Payments
by Jitendra Tomar
JT
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Smart Technologies and the Future of Digital
Currency Payments
Explore the transformative power of smart
technologies. Discover how they're
revolutionizing digital currency and payments.
From blockchain to AI, witness the evolution of
money.
by Jitendra Tomar
JT
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Blockchain The Secure Foundation
Decentralized Ledger
Enterprise Solutions
Versatile Use Cases
DLT ensures secure and transparent transactions.
JPMorgan's Onyx and IBM Food Trust lead the way.
Transforming supply chain, healthcare, and
identity.
The blockchain market is projected to reach 163B
by 2030.
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Smart Contracts Automating Trust
Self-Executing
Wide Applications
Ethereum's Dominance
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Code-defined terms automate agreements.
Used in escrow, DeFi, and payments.
The leading platform for development.
Aave lending platform boasts 10B value locked.
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AI Enhancing Security and Personalization
Fraud Detection
Personalized Services
Virtual Assistants
AI reduces fraud by 70.
AI-driven financial advice.
Streamlining customer support.
AI will save banks 48B in fraud prevention by
2023.
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CBDCs Government-Backed Innovation
Global Initiatives
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China's Digital Yuan and Europe's Digital Euro.
Potential Benefits
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Financial inclusion and efficient policy.
Bahamas "Sand Dollar"
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First CBDC targeting remote populations.
Over 130 countries are exploring digital
currencies.
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Stablecoins Bridging Crypto and Finance
Asset-Pegged
USD-backed like USDT and USDC.
Use Cases
Cross-border payments and DeFi.
Regulatory Focus
Transparency and reserve audits.
USDT market cap exceeds 100B.
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Quantum Computing Security Risks and Solutions
Post-Quantum
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Developing resistant methods.
Threat to Crypto
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Quantum computers break encryption.
NIST Standards
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Standardization process underway.
IBM, Google, and Microsoft invest in quantum-safe
solutions.
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IoT and Micropayments Machine Transactions
Automated Payments
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Micropayments
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Charging Stations
Smart devices facilitate autonomous payments.
Examples include pay-per-use models. Electric
vehicle charging stations automatically bill
users.
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Metaverse Immersive Payment Experiences
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Virtual Economies
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NFTs
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Brand Integration
Digital currencies enable transactions in virtual
worlds. NFTs monetize virtual items. Brands like
Nike and Gucci sell virtual products.
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Future Outlook and Key Takeaways
Convergence
Tech reshaping currency and payments.
Regulation
Balancing innovation and protection.
Opportunities
Embracing digital transformation.
The Future
Money is digital and connected.