Online currencies have become more common in recent years. Why is this? Is this a positive or negative development?

#currencies #years #development

Online transactions have surged more than ever before in the

last

few years.

This

due to

the

Correct article usage

apply

show examples

technological advancement and globalisation. In my opinion, it should be considered

Change preposition

apply

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a positive development owing to the ease of transferring

money

and the reduction in

money

handling

cost

Fix the agreement mistake

costs

show examples

Firstly

, online transactions are only possible because of the advancement in technology that allows for

such

means of sending funds.

Further

, globalisation has resulted in many industries across the world requiring instant

payment

modes for the products purchased.

For example

, numerous online shopping platforms have been established in the recent past which require

payment

to be made instantaneously and

hence

online.

As a result

, more and more

business to customer

Add a hyphen

business-to-customer

show examples

organisations

have

Change the verb form

has

show examples

integrated

payment

platforms

such

as GooglePay and ApplePay into their business. The transition to making payments online is a positive development as it provides a more convenient option to send cash to others.

In addition

, the

cost

associated with handling

money

is reduced.

For instance

, if departmental shops accept only paper notes they will need several cashiers to handle the

money

provided by all the customers. Alternatively, if there are

payment

kiosks present to handle some customer

queue

Fix the agreement mistake

queues

show examples

at the departmental shop, the

cost

associated with a few cashiers can be eliminated. In

this

manner, online

payment

options are reducing the

cost

associated with maintaining resources. In conclusion, the adoption of online

payment

methods will continue to rise with the progress in technology and globalisation.

Consequently

, there can be a time in future

where

Correct word choice

when

show examples

one

hundered

Correct your spelling

hundred

per cent of transactions can occur online. Organisations should be quick to adopt

payment

changes to remain relevant and ahead of their competition in

respective

Correct pronoun usage

their respective

show examples

industries.

Submitted by abhinayam on Sun Jan 29 2023

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12Linking words
meeting the goal of 7 or more
3Word repetition
meeting the goal of 3 or fewer
9Grammar mistakes
 

4 paragraphs

281 words

0123456789.0505

Overall Band Score

Coherence and Cohesion: 7.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 4.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 4.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 9.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

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Topic Vocabulary:

Digital wallet
Decentralization
Cryptocurrency
Blockchain
E-commerce
Fiat currency
Financial inclusion
Cross-border transactions
Volatility
Smart contracts
Decentralized Finance (DeFi)
Mining
Energy consumption
Pseudo-anonymous
Regulatory challenges
Financial privacy

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