Title: Technology and Money
Course: Demo 1

Q: Technology is affecting the traditional definition of "money." Technologies currently challenging this definition are:
- tap to pay
- virtual wallets
- Bitcoin
A: tap to pay; virtual wallets; Bitcoin

Q: One technology gaining popularity is the mobile payment. It is sometimes known as tap-and-go or near field communications (NFC). This technology is:
- a method of wireless data transfer
- detects and then enables technology in close proximity to communicate
- requires an extended amount of time before the process has finished
A: a method of wireless data transfer; detects and then enables technology in close proximity to communicate

Q: Legal issues arise with digital or virtual currency such as Bitcoin. Laws which are affected by this technology include(s):
- federal tax laws.
- federal anti-money laundering laws.
- counterfeiting criminal statutes.
A: federal tax laws.; federal anti-money laundering laws.; counterfeiting criminal statutes.

Q: Issues that digital money raises include:
- the IRS has done little to address the tax implications of virtual money
- current monetary laws do not include the regulation of digital money
- suspicious and illegal transactions cannot be tracked by traditional financial institutions
A: the IRS has done little to address the tax implications of virtual money; current monetary laws do not include the regulation of digital money; suspicious and illegal transactions cannot be tracked by traditional financial institutions

Q: Mobile payment is also known as:
- mobile wallet
- mobile money transfer
- mobile computing
A: mobile wallet; mobile money transfer