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Digital Payments NMIMS Assignment Solution

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Digital Payments

NMIMS Assignment Solution

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1. Demonetization has changed the attitude of people towards the digital payments. Digital Payments are very popular among the youth, but still the ratio of the population who regularly use the digital payments is very less. To increase the inclination of the people towards adopting the digital payments, Govt. of India has decided to introduce another round of demonetization. The currencies of denomination Rs. 500 and Rs. 2000 will be withdrawn from circulation and the new rule says that any payment above Rs. 200 will need to be done through digital medium. Your parents and grandparents have never used digital payments. Explain to them what are different digital payment options available to them and how to use it.

Q2. The second round of demonetization has created a lot of chaos, and as and when more and more people are adopting it, the frauds are also increasing and discouraging people from using it. Again, your parents and grandparents are confused about the above aspects and concerned about the security of the transactions they do using digital payment systems. Explain to them the security threats associated with digital payments and provide them guidelines to remain careful while using digital payment systems.

3. Mr. Sagra is a businessperson and understands technology very well. He envisions that the future of digital payments is bitcoins. However, he doesn’t have any experience of trading in bitcoins. He consulted you as an expert in crypto currencies and requests you to provide your valuable services on
a. How to buy and store bitcoins.
b. To understand different features of block chain.