New forms of money are appearing at an ever-faster rate. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny?

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The rapid proliferation of new forms of

money

Use synonyms

, from cryptocurrencies to mobile payment systems, presents a complex duality.

While

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offering undeniable benefits,

this

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technological advancement

also

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introduces significant

risks

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to the financial system, necessitating increased

regulation

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and scrutiny. The

overall

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impact,

therefore

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, hinges on a careful balance between fostering

innovation

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and mitigating potential threats. On the one hand, innovative monetary

technologies

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offer enhanced efficiency and accessibility. Cryptocurrencies,

for instance

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, promise faster and cheaper international transactions, bypassing traditional banking systems and reducing reliance on intermediaries. Mobile payment platforms facilitate seamless and convenient transactions, particularly beneficial in emerging economies with limited banking infrastructure.

This

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increased accessibility can stimulate economic growth and financial inclusion, empowering individuals and businesses previously excluded from the formal financial system.

Furthermore

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, the inherent transparency of some blockchain-based

technologies

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could improve accountability and reduce fraudulent activities.

However

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, the decentralized and often unregulated nature of many new monetary

technologies

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poses considerable

risks

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. The volatility of cryptocurrencies, subject to wild price swings and susceptible to manipulation, poses a threat to investors and the broader financial

stability

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. The anonymity offered by some systems can facilitate illicit activities, including

money

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laundering and terrorist financing.

Furthermore

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, the lack of robust consumer protection mechanisms in

this

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nascent field leaves users vulnerable to scams and fraud. The potential for systemic risk is undeniable, given the interconnectedness of global financial markets; a major disruption in one area could trigger a domino effect.

Consequently

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, greater

regulation

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and scrutiny are paramount to mitigate these

risks

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. Governments and international organizations need to establish clear regulatory frameworks that balance

innovation

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with protecting consumers and maintaining financial

stability

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This

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includes implementing robust anti-

money

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laundering measures, establishing clear licensing requirements for new payment providers, and promoting consumer education to enhance financial literacy.

While

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excessive

regulation

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could stifle

innovation

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, a balanced approach that prioritizes transparency and accountability is essential to ensure the responsible development and adoption of new monetary

technologies

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. In conclusion,

while

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new forms of

money

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offer significant potential benefits, the associated

risks

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cannot be ignored. A proactive and carefully calibrated regulatory response is crucial to harness the advantages of technological advancement

while

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safeguarding the

stability

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and integrity of the global financial system. Only through a concerted effort to balance

innovation

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with responsible

regulation

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can we fully realize the potential of new

money

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technologies

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without compromising systemic

stability

Use synonyms

monapermsuwanSat Mar 08 2025

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Coherence and Cohesion

Your introduction effectively outlines the main argument and sets up the discussion well. Consider expanding on the complexities mentioned in the introduction to provide a more comprehensive overview of the topic.

Coherence and Cohesion

While your paragraphs are well-structured and logically flow from one point to the next, integrating more transitional phrases can enhance the flow significantly. For example, words like 'Moreover,' 'In addition,' or 'Conversely' can help in guiding the reader through your arguments smoothly.

Task Achievement

You presented a wide range of ideas, but ensure to further develop your arguments by providing specific examples or case studies that illustrate your points. This can strengthen the overall persuasiveness of your arguments.

Task Achievement

Ensure that your conclusion revisits the main points discussed but also reflects on broader implications or potential future developments. This can enhance the depth of your response and leave the reader with a lasting impression.

Task Achievement

You maintain a clear position throughout the essay, effectively arguing both sides of the issue before concluding your stance. This demonstrates critical thinking and a well-reasoned approach to the topic.

Coherence and Cohesion

The use of specific terms and clear explanations of complex concepts shows a strong command of language. This helps in engaging the reader effectively, making your arguments more accessible and understandable.

Support ideas with relevant, specific examples

Examples make your writing easier to understand by illustrating points more effectively.

Examples, if used properly, not only help you get higher marks for ‘Task Response’ but also for ‘Coherence’.

When giving examples it is best to put them after your main idea or topic sentence. They can be used in the middle of supporting sentences or they can be used to start a new sentence. There is no rule for where exactly to give examples in essays, logically they would come after your main idea/topic sentence or just after a supporting sentence.

Linking words for giving examples:

for example
for instance
to illustrate this
to give a clear example
such as
namely
to illustrate
take, for example

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9
Linking words
meeting the goal of 7 or more
6
Word repetition
meeting the goal of 3 or fewer
0
Grammar mistakes
detected issues

0123456789.0505

Overall Band Score

Coherence and Cohesion: 6.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 6.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 8.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

5 paragraphs

385 words

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New forms of money are appearing at an ever-faster rate. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny?

Support ideas with relevant, specific examples

You recently stayed at a hotel for a conference with your company and there were several problems with your room. Write to the hotel management to complain. Include •Where you stayed •What the problems were •How they can fix your complaints

Some people like to try new things, for example, places to visit and types of food. Other people prefer to keep doing things they are familiar with. Discuss both these attitudes and give your opinion.

You have recently read a book about a city you know well and found some incorrect information. Write a letter to the author. Yell him/her of the incorrect information. Give him/her the correct information. Explain why they should correct it.

Some parents believe that learning mathematics at school is reductant and should not be taught while others believe that it should remain a foundational subject whether or not it is used later in life. Discuss both sides.

At the present time, the population of some countries includes a relatively large number of young adults, compare with the number of older people. Do the advantages of this situation outweigh the disadvantages?