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"Follow the Money: The Pros and Cons of Geolocating Currency", Nikki Williams, January 3, 2017
http://www.digitalethics.org/essays/follow-money-pros-and-cons-geolocating-currency
A Geolocating Currency
Quote:
" As time progresses, technology becomes increasingly valuable in both preventing crime and catching criminals once a crime has taken place. However, this technology is also imbued with the capacity to become a significant threat to personal privacy. In recent years, banks used exploding dye packs to discourage theft and help track thieves. Now, many financial institutions are switching to implanting global positioning system (GPS) devices in bags of money to find criminals on the run through geolocation."
What do you think is it all about:
It is all about the Geolocating currency purpose and its advantages and disadvantages.
Reflection Proper:
A Geolocating currency is a device where it can geolocate people, where it can provide geolocalized content relevant to a certain geographical location. It provides the currency where a person is currently located and the prices of goods and products in that certain country. It uses IP and even GPS to track down items. This device is relevant in the way that it can help people convert the price of a product in that country and it can also compare to the price of that product in that country. Geolocating currencies have various kinds, in the article, the geolocating currency indicated there was used for detecting crimes that involves the use of cash. it can track down criminal illegal activities of using cash for their transaction. It can detect the what is being paid or what is funded through an underground economic activity, and what is not taxed from the government. It gives appearance to the cash laundered. it helps in preventing theft, illegal use of money in political and legal aspect, and cyber crimes, and even terrorism. The problem here in ethic is just about privacy, especially for children under minor age, it violates their right when they a cash in themselves and its being track down. It is under U.S. Children’s Online Privacy and Protection Act (COPPA), that is why it is required to have the parent's consent for them to used it in children. Well, to resolve this issue the people who use this kind of device must deal and follow the guidelines of COPPA regarding the Electronic Digital Privacy Act (EDPA), the Cyber Intelligence Sharing and Protection Act (CISPA), Computer Fraud and Abuse Act (CFAA) and the Trans-Pacific Partnership Agreement (TPP). Nevertheless the geolocating currecncies are very relevant in resolving cash laundering crimes, it just need to be used in a good practice where it will not disrupt the privacy of the people.
5 Things That I've Learned
> Government must be responsible in using geolocating currencies.
> Geolocating currencies varies in different purpose.
> Government must deal with the rules of COPPA regarding the privacy of people in using geolocating currencies.
> Geolocating currencies involves the government practice to resolve crime that includes cash.
> Government use of the device must have parent's consent when it is used for children.
5 Integrative Questions
> What are Geolocating currencies?
> What are the kinds of Geolocating currencies?
> How does Geolocating currencies can help Govenrment in detecting crimes involving cash?
> How does Geolocating currencies can affect the privacies, especially for children?
> How can the Government can use Geolocating currencies in a good practice?
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