Question

What is meant by biometric authorization? Give some examples. Why might a central bank switch from...

What is meant by biometric authorization? Give some examples.

Why might a central bank switch from fiat money to digital money?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Biometric authorization means giving your authorization by thumb impression (fingerprints). Example of Biometric authorization are (1) fingerprint scanning, (2) iris scanning of the eye, (3) facial recognition and (4) voice recognition

Central banks shifted from fiat money (paper money) to digital money so as to remove unauthorized use of cash and prevent tax evasion. With paper money, there is a certain anonymity which can lead to hoarding of cash (called black money) and possible tax evasion.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Why might a central bank switch from fiat money to digital money?
Why might a central bank switch from fiat money to digital money?
In details, give explanation of how a central bank might influence domestic money supply. Also, illustrate...
In details, give explanation of how a central bank might influence domestic money supply. Also, illustrate to why it is challenging for central banks in an economy with low income
Explain what is meant by fiscal policy. Give 2 examples of tools that can be used...
Explain what is meant by fiscal policy. Give 2 examples of tools that can be used to implement fiscal policy. What are some of the problems with using fiscal policy?
How would you characterize strategies? What might be some examples of B2B marketing outreach/digital strategies?
How would you characterize strategies? What might be some examples of B2B marketing outreach/digital strategies?
explain what is meant by secondary sexual characteristic; give 2 examples
explain what is meant by secondary sexual characteristic; give 2 examples
What is meant when economists say the Federal Reserve System is our central bank and is...
What is meant when economists say the Federal Reserve System is our central bank and is quasi-public in nature?
An Independent Central Bank · Why is it important for the central bank to have both...
An Independent Central Bank · Why is it important for the central bank to have both autonomy and accountability?  (Note: autonomy is defined as “freedom from external control or influence; independence.) ·         Do you think that the United States Federal Reserve has too much power and influence over our economy? Why or why not? The Federal Reserve Board ·         Review the biographies of each of the seven members of the Board of Governors. What can you say about the composition of...
1)What are the three functions of money? Can you give an example of each from your...
1)What are the three functions of money? Can you give an example of each from your daily life? 2)What is fiat money? Why does fiat money have value (or not have value)? 3)Construct a basic T-account for a bank operating under a fractional reserve system. 4)What is the present value of $15,000 that you will earn five years from now? (Assume that the risk-adjusted rate of interest is 10 percent. What if you earn the $15,000 two years from now?
Explain what is meant by the term “allostery” and give two examples explaining how this can...
Explain what is meant by the term “allostery” and give two examples explaining how this can influence regulation of a gene
Explain what is meant by MVBP (Minimum viable business product) and give examples for smartphone products.
Explain what is meant by MVBP (Minimum viable business product) and give examples for smartphone products.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT