How do technological advances influence us?
Muhammed Ahmed Aslam, Syed Hamza Ali, Muhammed Ahmed, Bilal Iqbal &
Hashir Ahmed
Riphah International University, Institute of Media Sciences
Al-Mizan Campus, Rawalpindi
Functional English Course
Instructor: Dr. Saira Asad
1.Introduction
David Klein claims that technology will increase productivity. The accrued output suggests that a lot of the products and services increase people’s standard of living. Technology evolves day by day so does our urgencies and thus we take advantage of the technology around us, for example, you can use a car to travel but a car cannot travel around the whole world so they introduced aero-planes so we can cover a long distances in hours.
We’ll elaborate on how technology influences the modern world. Our research reports consist of the research done by our own crew members. The report discusses how modern world technology changes and influences our lifestyle. We are covering the following topics in this report because we think they are highly important.
1. Metaverse
2. Cryptocurrency
3. Sensors
4. E-commerce
5. E-sports
1.1. Metaverse
Metaverse could be thought of a tenacious 3D universe that mixes numerous diverse virtual worlds. You'll think about it as a future repetition of the net. The met averse can enable users to figure, meet, game, and hang out in these 3D areas. The Metaverse isn’t living, however, some platforms contain Metaverse-like parts. Video games presently give the highest Metaverse expertise Supply Designers have pushed the limits of game by introducing in-game events and making digital currencies.
Though not needed, cryptocurrency is a decent acceptable form of currency in Metaverse. They permit for making virtual currencies with differing kinds of value tokens and computer-generated non-fungible tokens. The Metaverse additionally get pleasure from the utilization of crypto wallets, like Trust pocketbook and Meta-Mask. Also, blockchain technology give clear and reliable control systems.
Blockchain, Metaverse applications exist already and supply individuals with livable incomes. Axie Infinity is a play-to-earn game that several consumers play to support their financial gain.
When we look to the longer term, massive school giants are trying to steer the approach. However, the localized feature of the blockchain trade are property.
1.1.1. How Games are linked with Metaverse
Due to the stress on the 3D computer games, the video games provide the highest Metaverse knowledge presently. This time isn’t simply because they're 3D, though. Video games currently provide facilities and opportunities that cross over into different features of our lives. The game
Rob Lox even hosts virtual events like performances and meetups. Players do not simply play the sport anymore; they also use it for different activities and elements of their lives in cyberspace.
1.1.2. What is Metaverse’s Job?
As we tend to mention the Metaverse can mix all features of life in one place. Whereas, numerous people already work at home, within the Metaverse, you may be ready to enter a 3D workplace and move together with your coworkers’ avatars. Your job may additionally be Metaverse connected and supply you with financial gain directly serviceable within the Metaverse. In fact, these styles of jobs exist already in an exceptionally similar kind.
2. Sensor Technology
A sensor is a device that detects and reacts to some type of input from a corporal environment.
The particular input could be heat, light, moisture, or pressure. The output is usually a signal that is transformed into a human-readable display at the sensor location or conveyed electronically over a network for reading or further processing.
The use of sensors has widely increased from the usage of normal household or factory use belongings it has expanded into the process of cars and other security options as well as trying to improve the world’s technological problems and further influencing humans with these advancements in technology. Sensors are used in many ways possible but here are a couple of examples.
2.1. Sensors in Amazon Go
Amazon go is a chain of convenience stores in the US and UK, operated by online retailers. The stores are cashier-less and are automated with sensors surrounding the four walls of the stores with cameras all over the place. The store simply works when a customer purchase products and whatever product the customer picks up which are sensor detected if moved and puts it in his bag the amount of money is automatically cut from his amazon account and he can walk out of the store without having to wait in line. There are currently only 29 of these stores in the whole world.
2.1.1. Amazon go’s Influence on the Youth?
This kind of stores influences the youth in many ways. These stores are the biggest advantage of time efficiency. The impact of Amazon Go on the youth will be the fewer job opportunities by the conversion of all the shopping done online via phones and by other technologies could dearly affect the lives of the poor who require jobs. These sort of technological advances does help the youth but it ponders between the good side and the bad side of it.
3. What is E-Sports?
E-sports known as electronic sports is an organized competitive video vice. It mainly involves groups competing against one another in tournaments for a prize pool. Functionally, it’s an equivalent of ancient sports. Today competitive skilled vice, additionally called e-sports, could be a $1 billion dollar business in the future. Championship’s area unit watched live by tens of countless folks with vital growth Year after year. The e-sports business could be a modern-day gold rush.
3.1. Why is it popular?
E-Sports is easily accessible. To play a conservative sport you'll got to organize folks into a corresponding corporal location, whereas with vice you'll be able to play with folks from all around the world instantly with an online association from the comfort of your own residence.
3.1.1. How will E-Sports Influence the Youth?
Lifestyle results related to engagement in e-sports and video vice area unit are vital to think about. This highlights the requirement for longitudinal revisions that examine characteristics of vice that will enhance young people's risk of active unhealthy way behaviors. The availability of E-Sports to a good digital audience emphasizes the requirement for this sector to push healthy way behaviors among shoppers and gamers.
4. Cryptocurrency
Cryptocurrency is a virtual currency used to buy goods and services offered by different organizations. It is also used for trading purposes to make your money profitable. It runs on a technology called blockchain and is secured by cryptography which makes it impossible to hack or double spend. Most of the cryptocurrencies are decentralized networks. It enables us to make transactions without using a third party like banks. So, there would be no service charges and it saves a lot of time and effort. It can be mined or purchased from different cryptocurrency exchanges. These exchanges have their fee for buying and selling crypto, unlike taxes. It works on a technology called blockchain technology which makes it secure like a record of every transaction can be seen by everyone. Like bank account numbers, crypto users also have their addresses which makes it possible to view a record of transactions but it doesn’t tell us the person behind that address. So, one can have the access to send their money anywhere without showing their identity.
4.1. How it Influences Us
The main thing which influences people about cryptocurrency is crypto trading. It made a lot of people billionaires who bought bitcoin at the beginning of crypto in 2013. Bitcoin was worth 112 dollars in 2014 and at the end of 2021 bitcoin had worth 69000 dollars. So, the person who bought it at 112 had converted its 112 dollars into 69000 dollars in just 8 years. Another thing which influences people is its new paradigm for money in which third parties like banks and other financial institutions are not required to make transaction between two parties and transactions are faster as compared to banks. Loans in decentralized finance are good opportunities for people to take loans and trade in crypto and make their money profitable. Crypto can also be used at the international level to trade between two countries such as Russia is now using crypto for their exports.
4.1.1. Disadvantages
Understanding crypto is not that easy so one can lose money if he is not familiar with crypto. Another drawback of crypto is security issues that one can launder their money without showing anyone so that money can be laundered easily. Crypto is volatile so one can lose their investments due to falling of cryptocurrency.
Ø Uses
Crypto is being used in the Western world as a method of payment. McDonald’s is using crypto as their payment method. Tesla is also using dogecoin for their merchandise store.
5. E-Commerce
E-Commerce is condensed as Electronic Commerce. E-Commerce is buying and selling goods and providing services over the internet. Today, altogether parts of our daily lives, the net has become an associate degree undivided a part of our lives, because it features an adaptable impact on our social activities. Every day, progressing to the bank to form money dealings or withdraw cash or head to the market to shop for things and important commodities is currently quite tough since there's no time, the person has become too busy in his work and, so, in these conditions, on-line purchases became associate degree more and more integral a part of our society. Olympian 2 hundred billion dollars in sales solely in 2010.
6. Conclusion
Each business is completely different in its facet, even though every business differs in vogue, promotion, and volume, however, the facility demand is the same for everybody, however nowadays; it's vital that life within the web world be updated with relevance to the business group action if you wish to stay competitive with others. In the future, the net budget items of an internet site become insignificant compared to the comeback on investment provided by the promotions.
