Last week in class we discussed the electronic trading of money. This also has been expanding and is to the point where we can now do all of our banking online. Some banks don't even have a physical building, it's all just done over the Internet. We can purchase items over the internet with our credit cards and do all transactions within seconds. Most companies have a 'shopping cart' where you can gather all of your items and save them until you want to check out just like you were at the store.
It's astonishing how we can do most things online from our home without even going anywhere to purchase them. They will be delivered straight to your home usually within a week or so. We are able to make payments on our credit cards through our banking company or credit union just by entering our account number and routing number. However, when making transactions or purchases, we have to be careful about all the hackers that are out there and make sure our information is not being stolen from us. There are many ways that hackers can get to all of your personal information such as spoofing, backdoors or trojan horses and many more. Trojan Horse's are one of the more common ones. This is when someone creates a program that the user cannot see and instructs them to exploit some of their software along with private information.
We've come really far when it comes to the internet and electronic trading of money. The fact is, that there are people out there who have grown with the technology as well and are using their knowledge to create harm and do damage. People can get your personal information and do pretty much whatever they want with it once they have your identity. It's something we all need to be aware of and be careful when doing online banking or making purchases. Just be smart on the internet.
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