NMIMS DIGITAL PAYMENTS ASSIGNMENT DEC 2021

DIGITAL PAYMENTS 1. Cryptocurrencies is a currency which is secured by using cryptographic techniques. These currencies were in news recently due to tweets of Elon Musk as well. Bitcoin is the cryptocurrency in which most of the individuals are interested to invest in. Mr. Ram Prasad, an Entrepreneur has thought to invest in bitcoins, but as a novice he does not have any idea about these currencies. You as an expert of same, explain Mr. Ram Prasad the steps needed to follow for Bitcoin mining. Also, what are the risks and legal regulatory issues associated with these currencies you would like to discuss with him? 2. After the onset of current pandemic situation, most of individuals are using one or the other types of Digital Payment methods. Usage of E-Wallets for choosing as a mode of payment is one of the mechanism to do the same. Discuss the different types of E-Wallets (Any 5) and which E-Wallet you find more suitable for usage by yourself and why (Discuss the same by stating benefits with example)? Have you or any known person in your vicinity has ever faced any situation, wherein, you have stuck while making the transactions or so? What measures you have taken to make that transaction smooth? Discuss the same with the help of an example. 3. A blockchain is a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. HealthCare is a new venture which has started providing health care services to its customers. In order to gain the benefit of Blockchains, they want to adapt the technology of Blockchains for their business. Considering the above scenarios, discuss the following: a. Explain the features and Contracts in Blockchains and why most of the organizations are adopting this technology? b. Discuss how Blockchains can help HealthCare in maintaining the databases and providing other advanced services and facilities to its customers.