Credit Card of Piggy Bank Analysis Paper Example

Introduction

The credit card piggy bank is one of the most innovative ways of saving money. Previously, piggy banks were used without any automation as a means of managing personal funds. However, this new technology merges the old ways with the latest techniques to ensure that users access their piggy banks through credit card access. This technique entails containing the card with the piggy bank in the private bank account of a client. The advantage of this technology is that it can have public as well as home access. Individuals, as well as institutions, can use this as a way to collect funds in the form of donations. Some of the drives that can be applied to this technology include the safekeeping and telepathy which help in ensuring that the credit card piggy banks are sustainable.

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Safekeeping

This method can be applied to the piggy banks since it ensures the invisibility of funds. Additionally, safekeeping ensures that there is a guard and track. The technique can give users of the bank's security and confidence. Safes guarantee that there is no unauthorized access to the money.

Cons:

• Safekeeping exposes funds to misappropriation in case the central authority is corrupt.
• Credit piggy banks are exposed to hacking due to the presence of client information on the company details.

Strategy:

• Introduce safekeeping in small packages to make it personal. Personalization will create an interest in the target consumers.
• Another way of achieving this vision is through creating a wireless receiver that is connected to the personalized device.
• Embedding customized devices on the piggy banks and customer gadgets will be a modest way of providing value to this technology.

Human Interaction:

• Safekeeping brings about accountability in social interactions, and it is a way to deter crime.
• Safekeeping relies on surveillance cameras that help the government institutions to gather information.
• When applied on the credit card piggy banks, safekeeping will ensure that financial institutions assure their clients of the safety of their money through multiple surveillance.

Green Evaluation:

Safekeeping will not affect the environment in any way.

Social Problems:

• Surveillance may be used as a way to infringe the rights of citizens. To deal with this, institutions must assure the public that surveillance is meant to keep their credit card piggy banks safe.
• Safekeeping is prone to hacking by corrupt officials who may steal the funds in the piggy banks. This can be eliminated by connecting the piggy banks to the cell phones of the citizens.

Recommendation:

• Educate users on the importance of safekeeping.
• Public education ensures that citizens can understand why safekeeping is sustainable and secure.

Telepathy

Telepathy allows people to communicate without using their senses. With recent technology, telepathy is through wireless social media platforms such as IM conversations and Twitter. It creates awareness of the people who are not close to us. Credit piggy banks can be used to form consensual connections between the user and the financial institution.

Cons:

• This digital connection may create social robots who have limited intimacy.
• The devices can be manipulated, and this can affect the performance of the piggy banks. It can be a way to facilitate fraud.

Strategy:

• This vision can be achieved by using a LumiTouch frame to connect physically separated people. Similarly, a client can monitor the progress of their account from a remote location.
• Additionally, the credit card piggy bank can be set in a way that allows its flames to communicate to the owner of the account every time a transaction takes place.

Human Interaction:

• Installing a LumiTouch connection to a credit card piggy bank ensures that account holders can receive notifications about their funds without active participation.
• Telepathy enables the remote control of the accounts.
• This drive creates trust between banks and users due to easy monitoring.

Green Evaluation:

There are no established effects of adopting telepathy as a mode of facilitating credit card piggy banks.

Any social problems:

This drive could make people over-reliant on technology thus losing their social values and connections.

Recommendations:

Telepathy and credit card piggy banks should have a customized mode of communication that is only known to the owner of the account.