New forms of money are becoming extremely popular nowadays. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

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The form of

money

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has always been changing since humans started to buy and sell their necessities. Even in

this

Linking Words

modernized world, these new styles are becoming prevalent among people. Undoubtedly, they add various positive values to the

economy

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however

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, they would bring detrimental

risks

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to the monetary system if strict

regulations

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are not imposed about

this

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issue. In the subsequent paragraphs, I will discuss the importance

along with

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the

risks

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these new features might bring.

To begin

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with, new forms of cash can provide the

economy

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with a dynamic system.

Firstly

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, they enable businesses to have more flexibility in terms of payment options and be more profitable.

Also

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, they create more freedom in society as people can decide which way to pay .

For instance

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, Amazon's sales have increased since its website began accepting various cryptocurrencies as a way of payment.

Thus

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, with these

money

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forms emerging, both the public and the

economy

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would benefit as they drive to a more efficient and productive monetary system.

Nonetheless

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regulations

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are inseparable parts of a healthy

economy

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. Imposing strict monetary policies is indispensable as they mitigate various security

risks

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. To illustrate, cryptocurrency transactions might not have been

such

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a treasure trove for hackers if it was under controlled by restrictive legislation. By and large, these evolving forms of

money

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can be dangerous if their

regulations

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are not well-managed. In conclusion,

although

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there are dangerous

risks

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regarding new

money

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, their significant impacts on society's satisfaction

along with

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positive advantages outweigh the drawbacks. It is worth mentioning that imposing restrictive laws and

regulations

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on these new financial features are the factors that must not be forgotten.

Reza Moravej Sat Jan 06 2024

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task achievement

You should aim to fully address all parts of the task prompt, offering a balanced view on the topic at hand. Your essay tends to present an opinion without fully exploring opposing viewpoints or providing a more nuanced discussion. Expand on both the positive and negative implications of new money technologies to improve task achievement.

coherence cohesion

Your essay would benefit from more effective paragraphing, cohesive devices, and variety in sentence structures. Ensure each paragraph has a clear main idea and that your arguments follow logically from one to the next. The usage of cohesive devices should help establish these connections without being redundant.

11
Linking words
meeting the goal of 7 or more
4
Word repetition
meeting the goal of 3 or fewer
0
Grammar mistakes
detected issues

0123456789.0505

Overall Band Score

Coherence and Cohesion: 5.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 7.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 5.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

273 words

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Topic Vocabulary:

Cryptocurrencies
Digital payment platforms
Blockchain
Transaction costs
Financial services
Volatility
Consumer protection
Fraud
Financial stability
Regulation
Scrutiny
Innovation
Decentralized finance (DeFi)
Economic landscape
Cybersecurity
Money laundering
Central bank digital currency (CBDC)

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New forms of money are becoming extremely popular nowadays. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Some people think that environmental problems should be solved on a global scale while others believe it is better to deal with them nationally. Discuss both views and give your own opinion.

Parents should encourage children to spend less time studying and more time doing physical activities. To what extent do you agree or disagree?

The use of social media is replacing face-to-face interaction among many people in society. Do you think the advantages outweigh the disadvantages?

Nowadays, more and more people decide to have children later in their life. What are the reasons? What are the effects on family life and society?

Nowadays, a growing number of people with health problems are trying alternative medicines and treatments instead of visiting their usual doctor. Do you think this is a positive or a negative development?