Effects of Emerging Technologies on the Society
Advancement in technology has made the world go “gaga”. As far as technology is concerned, you can expect the unexpected or imagine the unimaginable. The world has left the stage of crude implementation. Every facet of life has been touched and affected by technology. The bewilderment of everyone is that existing technologies are fast becoming obsolete by the day; courtesy of advancement in technology. This article discusses the effects of emerging technology on the society.Technology has affected and is still affecting people of all age brackets from all over the world. You can imagine the formats in which toddlers’ toys and items for old people are made these days. They are given touch of modernity to let them have the feel of the innovations the mind of the human person is capable of.Internet TechnologyLet us begin with Information Technology. Gone are the days when people melted for fear of where to get information or data for their usage. Whatever information you think you need has been well written out for you on the Internet. “Internet is the world on the computer”. The internet has a wealth of information on every area of human endeavour. It is a safe place of consultation or reference for students as well as professors. The internet is a place individuals and enterprise run to locate the information they need. For instance, when you need any service, just log into the Internet, and you will see one million and one individuals and organisations who render such services. Whatever it is you need, you can find it on the internet.The world wide web as an aspect of technological advancement, has made the production and sharing of information a breeze. With the proper use of the internet, businesses that took “ages” to be accomplished are now executed within a twinkle of an eye. Even though the internet has numerous advantages, it has some disadvantages too. A lot of unhealthy materials are available on the internet. And these to the detriment of innocent minds. In as much as good people post relevant information on the net for the use of those who need them, people with bad intentions also post harmful materials on the internet. Materials on how to indulge in bad things abound on the internet. This is because a large part of the internet is not censored.Technological advancements have positive and negative effects on us. Let us talk about other facets of latest technologies and their effects.Nano technologyNano technology, like the Internet technology is spreading like a wild fire and its future effects are unimaginable. Nano technology spreads through large parts of human life. In the area of human health, nano technology is used for the treatment of cancer. It is used through the infrared to dismantle cancer tumors. Besides the health sector where nano technology has proved its relevance, it is also a force in the electronic sector. With nano, devices or applications of different types and sizes can be built. As a matter of fact, the military seems to be using the nano technology than anyone else. They are projecting its usage for combat, espionage and so forth. Nano technology has unimaginable possibilities. If care is not taken, without nano technology, a lot of damages could be achieved. And the world that has been built for many years might be destroyed within a few moment.Energy TechnologySo much has come out under this category. We have the solar energy, the wind powered plants, hydrogen battery technology. These have proved really useful in place of their alternative technologies. They have helped to break monopoly of various power sectors. Many homes in the US and Europe power their homes with solar energy. This and others are fruits of alternative energy. As good as these are, they come with some environmental hazards. They generate a level of pollutions in our environments like air and water pollution and heat generation to mention but a few.In a nutshell, as good and important as modern technologies are, efforts should be made to curb their negative impacts. Whenever there is a technological innovation, efforts should be made to forestall its negative impacts on the society.Do you want to read more? Visit us at http://www.latest-tech.damisagurus.com
Defying SEO’s Extinction
Some SEO practitioners today think of SEO as an unmoving industry that shows no change in terms of internal and technical processes. They also say that some SEO techniques that exist three years ago are still in use, regardless if these still help on optimization or not. In some cases, obsolete techniques that still exist are now coined as Black Hat techniques, which professional White Hats despise.Expert writers, bloggers, and analysts on the Web have expressed their early predictions about the newest SEO methods that will continue to dominate the incoming year. These methods have been on top since 2010. However, people consider these predictions as nothing but the same predictions and techniques we use ever since this industry was born, concluding that SEO has no future in terms of method improvement.On the other hand, a great flock of experts thinks that ‘improvement’ is SEO’s strongest power to survive in the market. Some industries like PPC and MLM have stopped growing in terms of improving their internal processes to expand their niche, to the point that their method has earned negative popularity from people. Pyramid schemes, later coined as pyramid scams, had sprouted everywhere in the market and later lead to a massive network marketing business downfall. SEO, on the other hand, has taken a different route, and has improved because of its practitioners’ incessant search for innovations.Fueling the growth of SEO is the nonstop improvement of technology-driven businesses like mobile phones, social media sites, and other Web-related industries, for they play a big role on SEO’s earlier methods. Having mentioned this, it clearly shows how SEO acts as an Internet and Web-centered business, that whatever positively happens on the Internet will benefit the industry. Moreover, as industries become reliant and dependent on the Web, competition swells up as companies vie for rankings, mainly, on search engines. This solidifies the idea that as long as industries depend on the Web, and as long as they put their faith on search engines as an alternative to costly traditional advertising, the SEO industry will never fail to improve.Inside the SEO industry, independent and large-scale SEO companies vie for domination as well, together with their respective SEO resellers and end clients. The healthy SEO market continues to grow and give birth to multitudes of new sub-industries like SEO Reselling, SEO web designers, SEO writers. It even paves way to the inception of the ever-improving White Label SEO, SEO Reseller Packages, and Private Label SEO.In this light, all experts who predicted SEO’s death are now hibernating in a faraway land, and some hide under a pseudo-domain name to avoid the self-inflicted infamy. Moreover, those who despise the industry over weaker MLM and direct-selling business have shown respect for SEO, and have even shown undeniable success in this industry.And as a humble harbinger who never believed those predictions, I greatly proclaim SEO’s domination up until, and as long as, the World Wide Web exists.
Understanding the Necessity of Acquiring Your Own Insurance Policy
Understanding Insurance ClaimsAn Insurance Plan can get us off our worries. May it be an Educational Plan, Health, Life, Auto, Accident or Retirement Insurance Plan. Living in a country where everything is fast-paced, having an Insurance Policy is a necessity. The absence of these much-needed Plans could cause you a lot of troubles. Imagine, what to do when someone in the family is sick? Paying your hospital bills could be worrisome and how would you send your children to school without an Educational Insurance?Some people have different kinds of Insurance Plans to secure their life and that of their family. However, an insurance claim also provides negative feedbacks that discourages people from thinking of the necessity of acquiring an insurance Plan. Definitely, an Insurance Plan means benefits but somehow, claiming those benefits could be tedious and time-consuming. Insurance claims need not give us so much trouble if we just understand how Insurance companies work on our Insurance claims. So to fully understand issues and save us a lot of troubles claiming our insurance, let us take a look on this.How to File Your 4 Important Insurance ClaimsFiling your Auto Insurance Claim1. Assess if the Claim is Worth the TroubleBefore filing for an auto insurance claim, decide if you want to file a claim or not. If you think you can afford to pay for the damage, no matter who is responsible for it, then try not to make any claim. What is important, according to a Personal Insurance Expert, you need to keep your Insurance Record clean.2. Get the Accident DocumentIt is very important to document every detail of the accident and get witnesses to back up your story afterwards. A Police record on the scene is a relevant document you must have to support your claim.3. File Claim ImmediatelyYou don’t need to lose time in filing your claim. Question as to who is responsible will be taken care of by your Insurance Company.4. Expect a Call AnytimeExpect a call from the other driver’s Insurance Company to interview you on your version of the incident. Make sure you document the conversation and don’t forget to ask the agent’s name.5. Get Your Car FixedAfter your claim is approved, then you can have your car’s body fixed in case of a damage. The Insurance Company will assess the damage or ask you to send your car to any car shop of their choice to get it fixed.How to File Your Home Insurance ClaimIn case of a disaster which left you and your family homeless, file your Home Insurance Claim. As you file your claim, be sure to have your Insurance Policy with you. In case you were not able to have your copy available after the disaster, at least know and remember your Insurance Company’s name and contact numbers. It is not always relevant to remember only your agent’s name for sometimes, he could represent various companies.Prepare a Quick Household InventoryIt’s always better to take a video of your whole household belongings every time you acquire a Home Insurance Plan. Keep a copy of this record and keep it in a safe-keeping vault outside of your house. It’s always advisable to keep a bank deposit box for important documents like Insurance Policies, Property Title, etc.Notify Your Insurance Company ASAPIt is important to notify your Insurance Company as soon as possible for the reason that you may have to avail of the Loss-of-Use Benefit in your policy if you have this feature. This could cover living expenses outside of your home while it is being repaired such as hotel bills, meals and other cost of living expenses. This will entitle you to receive immediate cash needed for your bills.Start Filing Your ClaimYou can’t have your claim until you have everything properly documented. So, it would be hard for you to have a documented list of your household belongings if you don’t have access to your damaged home. Only when you can gain access to your home once again could you properly document it. While you are waiting for the approval of the claim, you may make minor repairs but be sure to record every disbursement you make. Don’t make any major repairs until your claim is approved.How to Hire a Contractor for Insurance ClaimFind a reputable contractor to take care of your building or repair needs. A lot of contractors would always grab a chance like this to take advantage of your anxiety. They can always stretch your budget beyond the level of reasoning.How to File a Life Insurance ClaimFiling for an Insurance Claim after the death of a loved is not really easy. However, it is at this point in life when you have to be practical. You need money more than anything to pay off the funeral cost, bills and even the family needs. It is hard to be left alone and face all these problems but you have to be thankful if the deceased love one had prepared you for times like this. As a survivor, we sometimes worry about things like these but a Life Insurance Plan is designed to give us less worries and ensures the deceased family that we won’t have to deal with the financial problem as we grieved over the loss of a loved one.Find the Life Insurance PolicyThe Policy is an important document granted to the Policy Holder. This is badly needed when filing for an Insurance claim. Be sure to look for it if the deceased party had failed to inform you where he had kept it. You may keep in mind that this is a very important document, so the keeper might have kept it in a place not easily seen or recognizable. You may look in a plastic container or any sealed container large enough to contain it. It could also be kept in a small drawer of a cabinet in your head board or lamp stand cabinet.If you can’t find the Insurance Policy but you are sure that the decease is an Insurance Policy Holder, you may write to the American Council of Life Insurance (ACLI).For a small amount, the ACLI will conduct a search to find the Policy. The address is 101 Pennsylvania Avenue, NW, Washington, DC 20004-2500. Don’t forget to include a self-addressed, business-sized envelope.Contact the Company’s Number Listed in the PolicyTry to contact immediately the contact number or numbers listed in the document. If you personally know the authorized representative or agent, you may as well contact him directly and tell him that you want to file a claim. The company’s agent will always be ready to assist you in your filing. He will be providing you with forms needed for the application. Wait for any instruction that the Insurance Company will provide you.Fill-up the Necessary Forms and Submit RequirementsAfter receiving the necessary form needed for application in filing for the Insurance claim, fill it up with all the needed information. Provide also the other requirements needed upon submission. The Death Certificate is the very basic of all requirements you may need to provide together with your Application Form. Decide How you want to Receive the Proceeds from the Life Policy. You may choose to receive the proceeds in lump sum, or opt to receive it in a form of monthly pension or simply leave the money in deposit for it to earn interest and dividends.Wait for the Release of the FundsExpect that your fund’s approval for the claim will take more than a month to process as the Insurance Company still have to validate information relative to your application.How to File Health for Medical ClaimsIf you have to pay for your medical bills, then you have to file for your Health Insurance Claim. Here are some helpful tips in making your claim:Keep an Itemized ReportBe sure to obtain all receipts and necessary statement of accounts issued by the doctor or pharmacist. Summarize it, so it could be easily understood by the Insurance Evaluator. Attach it to your Application Form.Fill-Up Your Claim Application FormContact your Health Insurance Company as soon as possible. You may get your Application Form directly from them after declaring your desire to file for a Health Insurance Claim. The Application Form is easy to fill-up but someone from the Insurance Company is sure to assist you if there are some items in the Application Form that you don’t understand.Scan or Duplicate a CopyAfter filling up your form and submitting to the Health Insurance Company, be sure to scan it or have your duplicate copy to keep. This will keep you from inconvenience in case of loss or error in filing. You can easily file it again when needed. Review Before Submission. File your claim as soon as possible. Ask for assistance or inquire for any additional instruction or requirements. Ask how long it will take you to wait for the result and be sure to make a note of it in your calendar. If they failed to contact you on the given date, be sure to contact your Health Insurance Agent immediately.
How Google Updates Affect Your SEO Campaign
Google updates its algorithms quite often. In fact, if we visit Google’s algorithm update history, it is easy to note they roll out new updates multiple times a month, and several times a year. Some updates include simple changes in the aesthetics of the search results page, whereas others include the introduction of new ranking factors.We all know performing SEO on a website is continuous work, a routine. Actions made today will only reflect on your traffic down the road, and it takes patience and persistence to continue.However:Things out of our control can happen and ruin all the methodical and daily work we’ve done for our website’s SEO: the drastic changes in Google’s algorithm!Does That Mean I Should Change My SEO Strategy Every Time Google Releases a New Algorithm Update?While it is good to pay attention to these updates, you shouldn’t worry about having to change your entire SEO campaign.Google Algorithm updates represent new ranking opportunities and criteria that SEOs should comply with, which is why SEO is a continuous strategy.So, Why Does Google Update Its Algorithms So Frequently?Google constantly releases algorithm updates in order to maintain its superb online advertising and search services. Several things can go wrong when running a business online, causing it to shut doors unexpectedly.When this happens to a brick-and-mortar store, it is easy to see they have officially closed down; however, how can you tell if an online business is still operating or not?That’s where “Bots” come in! Google has “crawling robots” that go around discovering and inspecting websites 24/7. If Googlebots can’t get to your website, it will never be indexed. This means if Google can’t see your website content, then it won’t rank your website either.You can avoid all this stress by performing technical SEO strategies to ensure your website is visible to crawler Bots, loads at fast speed, and depicts a true representation of your brand image.Once your website is discoverable, Bots will analyze the layout and structure of your business, indicating how Google should be evaluating and ranking your website. Clues such as breadcrumbs, structured markup and sitemap can help guide the Bots through your content, pointing out the most important pages and blocking the ones Google shouldn’t consider.Why Are Google Algorithm Updates Necessary?What makes Google better than Bing, among other search engines, is the speed, accuracy and quality of the content it provides in its search results page.Think about it:If the search results page displayed links to websites that had little to do with what you actually searched for, or if it took too long to display it results, wouldn’t you try a different service?We would!That being said, Google is looking for the best content available online, so it is safe to say that “content is king”! Quality content must be helpful, informational, readable and digestible – not just fluff.The general rule of thumb here is:”the better the content, the higher are the chances it will rank on the first page of search engine results.”
Choose Quality Over Quantity – Always!Since its inception, Google has been fighting off cheating practices of rank manipulation. This includes link schemes, link spamming, hidden keywords and keyword stuffing. Such practices are known as “black-hat SEO” and are used to boost website rankings.Most people would like to know how long it takes a website to rank on Google, but the truth is there are no pre-determined deadlines for search engines; trying to bypass the process will only work against you.Understand this:”More content” doesn’t necessarily mean “better content”,which is why Google rewards websites that offer value to its users, punishing and removing the schemers from search engine results pages.What Should I Do When Google Releases Algorithm Updates?Ultimately, Google relies on a broad network of trust indicators that help determine the most reliable and trustworthy sources available online.Besides quality content, another main trust indicator is the amount and quality of links pointing back to your website, known as backlinks.The same rule mentioned above applies here: choose quality over quantity! You can always find people offering hundreds and thousands of “quality” backlinks to your website for very little investment, but if some of them are “spammy” and not trustworthy, Google will mark your website as untrusted, and will remove it from its search engine results page.Once Google has established your website as spam, it will require double, triple, or quadruple amount of effort to help it bounce back.Quality backlinks are directly associated with Domain Authority (DA), a metric calculated by evaluating linking root domains, total links and more that helps predict how a website will rank on search engines, like Google.Thus, for effective SEO strategy, building and managing the link profile of a website is crucial to improve its domain authority.In ConclusionWhile rankings will constantly oscillate, your position on search engines results pages should not shift drastically if you follow these principles.Whatever you do, DO NOT panic: poorly constructed ideas and actions will negatively affect your SEO strategy; if you are applying white-hat SEO strategies, just be patient.
What are anti-ligature blinds?
Anti-ligature blinds are becoming increasingly popular in a range of different settings. The way these blinds differ from traditional blinds is that they are designed to prevent suicide by hanging.
Initially, uptake for this type of blind was largely restricted to high-risk environments such as psychiatric hospitals and prisons, where suicide is common. In mental health environments and detention centres, suicide via hanging is common and preventative measures must be implemented. A huge range of objects could be used to create a ligature point, meaning anti-ligature systems are highly important.
Over the years, anti-ligature blinds have been supplied to hospitals, schools, student accommodation and even hotels.
How do they work?
There are a range of different systems on the market, but the most reliable could well be the magnetic anti-ligature system. YewdaleKestrel® products utilise load release magnets which separate when a downward force is exerted on the product. This means that the product falls to the ground safely and prevents suicide via hanging.
The magnetic systems used in Yewdale’s products are highly reliable because magnets don’t lose their strength for hundreds of years, guaranteeing a lifetime of lifesaving functionality.
Anti-ligature blinds usually have a magnetic connection point above the blind’s barrel. The blind is easy to reconnect to the magnetic bracket after it has fallen to the floor.
If you are considering an anti-ligature blind, Yewdale is a highly recommended company. Based in the UK, Yewdale produce a wide range of anti-ligature products, commercial blinds, and healthcare products including hospital cubicle tracks and medical curtains.
Yewdale produce other anti-ligature products too including a soft, lightweight en-suite door and other accessories such as soap dispensers, toilet roll holder, shelves and artwork. You can see the full range on the website using the link below.
Complete weight loss strategy
For those who want to lose weight
Research on the causes of obesity, knowledge about weight loss, and various diets for weight loss are updated every year. However, with the update of knowledge and the release of diet pills one after another, the obesity rate continues to rise every year, and there is no sign of wanting to decline. I used to be very, very fat, and I am also a person who is prone to obesity.
So I understand the voices of fat people, I really want to lose weight, but I tried many ways to lose weight at that time without success.
I have tried the common boiled meals on the market, eating less and moving more, but it was not until I tried other diets that I managed to lose weight. After I lost weight, I began to study the essence and method of losing weight, and wrote him in this weight loss strategy article, hoping to help you.
A few key myths about losing weight
The weight loss myth of eating less and moving more
The phrase “eat less and move more” is actually true, but most people do it wrong. Many people think that they should eat less of everything, so they limit their calories to a very low level, and it feels a bit like eating an ultra-low-calorie fairy meal. Then, for the hyperactive part, the first thing that everyone thinks of is aerobic exercise such as running, cycling, etc., but in fact, this is a very short-term and easy way to regain weight, mainly because eating too little is an easy way to lose weight. The reason for the loss of muscle mass, coupled with the fact that aerobic training is not helpful for muscle mass growth, causes the metabolism to drop too much.
Maybe you can lose 5 kilograms in this way, but if your metabolism declines, you will easily regain the weight. And it’s all the fat that gets back up, not the muscle you lose that makes you look fatter than before. This is what we call the yo-yo effect, lose weight, get fat back, get fatter than before, lose weight, get back on Fat, get fatter than before.
Stop taking diet pills and meal replacements
At this time, you may start to seek other ways, eat weight loss meal replacements, taking diet pills, and so on. But believe me, most diet pills will inevitably hurt the body, especially the gastrointestinal tract. You may actually lose weight in the moment, but when your gastrointestinal tract is damaged, you will be fatter than before.
The key to understanding how to lose weight
You must have thought, why some people will not gain weight no matter what they eat, while some people will gain a kilogram the next day after eating a little bread? What is the cause of obesity? This is not a simple answer that can be solved!
You can see the link to the picture below, mainly talking about the influencing factors of obesity, which are very, very complicated.
Image source: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/296290/obesity-map-full-hi-res.pdf
In the middle of this picture is the heat balance
So we can know that calorie balance is very important
But this article doesn’t keep preaching that calorie balance is the key to losing weight like other sites
If you don’t know what calorie balance is, you can probably imagine that our body has calorie consumption (exercise, thermogenesis, basal metabolism), and calorie intake (eating).
When calorie consumption exceeds calorie intake, the weight will drop, so the truth of weight loss is to eat less and move more, very simple. In the short term, it is really possible to simply achieve weight loss by eating less and moving more, but simplicity is not simple, because the operation of the body is very complicated. Many people think that they can control their calorie consumption, that they can achieve a lot of calorie expenditure by running all the time, and that eating fairy meals (low-calorie meals) can reduce calorie intake and then easily lose it.
However, according to research, 90% of people who use calorie control, eat less and move more to lose weight will fail or regain the weight.
Because eating less and moving more for too long, metabolism will easily drop, hormones will easily become imbalanced, and muscle mass will easily be lost. Even if you lose 10 kilograms, you will easily regain weight.
When losing weight, the body is like a factory
For me, the key to long-term weight loss and maintaining good posture is the environment in the body, such as hormones, the level of inflammation in the body, and the gastrointestinal system.
Think of the body as a factory
-Your hormones are the managers and workers of factory operations
-Inflamed condition is how good factory machinery and hardware are
-Calorie intake is wages for factories as well as fuel
If the manager of this factory is an idiot, or if the hardware in your factory is completely rotten, then no matter how it works, it will create a pile of waste. Just as our hormones are already out of balance and the level of inflammation in the body is very high, no matter how much you eat, if you don’t solve the existing problems, it will easily accumulate into fat. It may be easier to understand with a few examples.
Hormones vs Weight Loss
This study looked at the effects of sleep and weight loss
Research source: https://www.ncbi.nlm.nih.gov/pubmed/20921542
Both groups of humans were calorie-restricted, but one group slept 5.5 hours a night and the other 8.5 hours. Both groups lost weight, but the group that slept less lost 55 percent less body fat and 65 percent more muscle mass than the group that slept more. It is equivalent to losing weight, but most of the loss is muscle mass, which reduces metabolism and makes it easy to regain weight later.
There is such a big difference mainly because poor sleep has a negative impact. The imbalance of the secretion of these things will easily increase fat and reduce muscle.
This next study looks at the effect of insulin sensitivity on body composition!
Research source: https://www.ncbi.nlm.nih.gov/pubmed/19471290
Basically, many chronic metabolic diseases, obesity, and poor muscle-building effects are closely related to low insulin sensitivity. Insulin is an anti-catabolic hormone whose main function is to store nutrients in cells. For example, after heavy training, our muscles will be more sensitive to insulin, and the nutrients we eat will be more easily absorbed into the muscles. When insulin sensitivity is low, the nutrients we eat are more likely to be stored as fat rather than absorbed into muscles.
We can simply say that the nutrients in the food eaten by people who are insulin insensitive are more likely to be stored as fat, and the relative fat mass will be much higher than the muscle mass.
To put it simply, the key to losing weight is actually to improve hormones, improve inflammation in the body, and add an appropriate calorie deficit. It is not difficult to achieve a calorie deficit. What is more difficult is how to choose the type of food that suits your body to improve hormones and achieve a long-term good body.
If you only pursue short-term weight loss and rely on a lot of calorie deficits to achieve the effect of weight loss, and then the hormones are still the same after the loss, then I can guarantee that you will gain weight very easily.
With so many ways to eat on the internet, which diet should I try?
When talking about losing weight in Taiwan 30 years ago, everyone would definitely want to use boiled meals
When it came to losing weight five years ago, everyone might think of using a low-sugar diet. When it came to losing weight in the past two or three years, everyone might directly think of the ketogenic diet.
I lost 30kg in 3 months on a low-sugar diet myself for the first time, so I used to believe that a low-sugar diet was the best way to lose weight
But after my long-term understanding of weight loss-related research, genetic cognition, and observation of students, there is no diet that is most suitable for everyone! Although it is said that high-carbohydrate foods will most stimulate insulin secretion, which in turn promotes the storage of nutrients into fat, some people are naturally good at metabolizing carbohydrates, so they can still be healthy and strong after eating high-carbohydrate throughout their lives.
For example, this study compared the responses of people with high and low insulin sensitivity to high- and low-carb diets.
Research source: https://onlinelibrary.wiley.com/doi/full/10.1038/oby.2005.79
The study concluded:
-For people with high insulin sensitivity, eating high-carb and low-fat to lose weight is very helpful
-However, people who are insulin insensitive use a high-carb low-fat diet to lose fat, but the weight loss effect is not so good.
But on the contrary, studies have also shown that people with low insulin sensitivity have a very good weight loss effect on a low-carb high-fat diet, which shows that improving insulin is very important for weight loss, and it also shows that people with insulin insensitivity are more suitable
Lose weight with a high-carb diet.
So if you have been obese for a long time, you know that you eat carbohydrates easily, or you know that you have diabetes in your family and want to lose fat, then I would suggest that you can start by reducing carbohydrates, which is what we call low carb diet!
The Negative Impact of E-Levy on Mobile Banking.
DEFINITION OF TERMS
Mobile Banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet.
Electronic Transaction Levy or “E-Levy” is a tax applied on transactions made on electronic or digital platforms.
ADVANTAGES OF MOBILE BANKING
Mobile banking offers numerous benefits such as ease of transaction, convenience, time-saving, managing your finances, and budgeting. Some advantages of Mobile Banking in remote areas include:
Financial Inclusion — mobile banking offers convenient and easy banking services to people in remote areas. Thus, it allows banking on the go and offers all benefits of a banking system to rural areas without the presence of a financial institution.
Accessing the bank 24/7 — Mobile banking provides ubiquitous banking services without the need to visit the bank to have access to services. This offers time to benefit and ease of transacting at a distance.
Cost-benefit — Mobile banking saves the banks the cost of building physical infrastructures (branches) and maintaining branches and staff. Also, reduced costs on the customer side since the burden of visiting the bank for services is eliminated.
Improving resilience in the face of poverty — Mobile money acts as both a savings vehicle and a means of transferring funds during times of economic or environmental shocks.
Strengthening the formal economy — For many micro, small, and medium enterprises (MSMEs), opening a mobile money account can facilitate access to formal financial services. Mobile money is well placed to address the issue of informality that blights many developing economies and hampers domestic resource mobilization efforts. Mobile Money enables ease of transacting, thus increasing business profits for MSMEs.
Facilitating economic growth — Mobile money has been shown to contribute to economic growth by increasing both productivity and per capita incomes
DISADVANTAGES OF E-LEVY ON MOBILE BANKING
The design of mobile money taxation policy appears to be the antithesis of a well-designed tax system. The disadvantages include:
Inequity — Mobile money taxes as currently structured to create inequity in the tax system. As the tax is mostly borne by the poor and users of the services are subject to additional taxation (unlike bank or cash transactions), the principles of both horizontal and vertical equity in the tax system are contravened.
Uncertainty -. Uncertainty and lack of transparency over taxation systems can have a direct impact on the operations of the tax authority, increasing enforcement costs, as well as discouraging investment.
Inconvenience — The administration of mobile money transaction taxes creates an inconvenience for MMPs who must calculate and collect the tax on the revenue authority’s behalf. There is an additional inconvenience for users of the service for whom remote digital transactions become more expensive or out of reach if they revert back to cash.
Inefficiency — Badly designed mobile money taxes have been shown to have a distortionary impact on demand for mobile money services. This in turn has had negative impacts on overall tax takes, as well as impacting the attainment of national economic and development goals.
EFFECT OF MOBILE BANKING — CASE STUDIES
The decision to impose taxes on mobile bank transactions will trigger so many problems.
Ghana — According to The Fourth Estate Ghana; Although the government projects a 24% decline in transactions when the levy is finally implemented, preliminary findings published by the bank of Ghana indicate the value of mobile money transactions had dropped by 3.2 billion in December 2021, less than 2 months after the proposal to introduce E-levy.
Uganda — An e-levy of 1% introduced in 2018 has led to an overall drop in the person-to-person transaction by more than 50%, and a 24% drop in industry transactions within the same year the tax was introduced according to a report by Global system for mobile communication (GSMA).
Congo — An e-levy of 1% was introduced in 2019. The government had to reverse the tax on cash outs only due to negative results of the levy on Mobile money users such as a decline in mobile money agents (unemployment) and high-value withdrawals by people.
Other countries include Benin (5%) and Cameroun (0.2%). In all these countries, the e-levy has imposed a negative effect on the economy and people. If we want to ensure the financial inclusion of people in rural areas, we need to ensure that we encourage mobile banking by withdrawing the e-levy tax.
Reference:
https://thefourthestategh.com/2022/03/16/e-levy-this-is-what-happened-when-other-african-countries-passed-it/
Purohit, S., & Arora, R. (2021). The benefits and challenges of mobile banking at the Bottom of the pyramid. Journal of Contemporary Issues in Business and Government Vol, 27(1).
Charles G. Kpan, Jr. is an Information Technologist with over 5 years of experience in the provision of Information Technology Services and an emphasis on Web Development and Visual Branding. He’s the managing Director of CYGEC IT SOLUTIONS INC. and holds a bachelor’s Degree in Information Technology from Blue Crest University, Liberia.