Cryptocurrencies in the future of money and monetary policy
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
- Authors: Brown, Henry Brandon
- Date: 2020
- Subjects: Cryptocurrencies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/47495 , vital:40122
- Description: The idiosyncratic allure of cryptocurrencies, in particular Bitcoin, has attracted widespread, if reticent, attention in the financial markets. Since Bitcoin’s introduction in 2008 there has been a growing interest in digital assets possibly supplanting traditional payment methods. Two conceptual questions raised regarding cryptocurrencies are firstly, whether cryptocurrencies meet the traditional functions of money; secondly, what is the future of cryptocurrencies? This dissertation seeks to examine the future of cryptocurrency by reference to money and monetary policy. The further question, whether cryptocurrencies meet the traditional functions of money, is tested via a combination of theoretical and empirical analysis. The study explores both statistical and empirical models, in illustrative comparative detail, provided by analysis which included ADF and KPSS test models, alongside an ARMA(p,q)-GARCH(1,1) model. Cryptocurrencies present both significant benefits, alongside immense shortcomings. They provide the novel ability to conduct anonymous international transactions on a decentralised platform with lower transaction fees. However, the very nature of that anonymity could provide their downfall as much as they open a market for illicit activities. In addition, cryptocurrency’s significant energy consumption through the mining of cryptocurrencies is of concern to environmentalists. The empirical section of the dissertation consists of a comparative analysis between Bitcoin/USD time series to the Rand/USD time series, with specific attention devoted to the level of volatility of each time series. This was important in determining whether cryptocurrencies fulfil the store of value function of money. The dissertation concluded that Bitcoin/USD time series exhibited identifiable adverse characteristics of autocorrelation and ARCH effects, thus suggesting that Bitcoin/USD is strongly associated with volatility. The Rand/USD signified the same effects although of significantly lesser order than that of Bitcoin/USD. Consequently, cryptocurrencies are seen to act more as an asset than a currency. Nonetheless, cryptocurrencies seem likely to grow as a medium of exchange as more and more businesses gain knowledge of the innovation and seek to adopt innovative ways to become more efficient and follow technology trends. Currently, fiat currencies remain superior in the financial market, simply because cryptocurrencies are perceived not to fulfil the traditional functions of money. However in the future, the market share of cryptocurrencies is likely to increase, and so the future of the financial markets will surely include a coexistence of both fiat and cryptocurrencies, as people’s preferences determine where they feel safe to hold their money.
- Full Text:
- Date Issued: 2020
The incorporation of smart production in future factories within the fourth industrial revolution towards 2030
- Authors: Abdoll, Delicia Megan
- Date: 2020
- Subjects: Manufacturing industry
- Language: English
- Type: Thesis , Masters , Degree
- Identifier: http://hdl.handle.net/10948/47521 , vital:40123
- Description: Industry 4.0 is impressively creating a lasting impact on the manufacturing industry and on the industry outlook on the benefits of the implementation of new technology. The concept currently trending entails merging cyber systems, the Internet of Things, and the Internet of Systems all together to construct the revolutionary ‘Smart Factories’. The use of advanced technologies brings about new methodologies to improve the results of manufacturing. Complex activities will be performed by machines equipped in using intelligent information systems and new technology to improve productivity, enhance quality, and reduce costs of manufacturing products. South Africa is at the height of the ‘Fourth Industrial Revolution’ (4IR) which will essentially change the way we work. This innovative rubric of high-tech modernisation is characterised by a merging of technologies from the physical, digital, biological, and neuro-technological spheres. The hesitation over jobs being substituted with co-bots, a robot envisioned to actually cooperate with humans in a communal workplace, is profound. Skills volatility is estimated to affect all industries. There are uncertainties that the underprivileged and non-skilled would be thrust into an even profounder deficiency with the upsurge of the digital age. Organisations regard robotics and modern technology as strategic corporate tools that are utilised to enhance short- and long-term profitability and achieve operating goals. In dissimilarity, the application of robotics and modern technology in the place of work increases labour stability concerns, anxiety of downsizings and terminations within the workforce. The purpose of this research was to heighten the comprehension of smart factories in the manufacturing industry by conclusively embracing a methodical examination of the factors which influence the outlook of those involved concerning smart factory implementation and also of assessing the readiness of the South African manufacturing industry for 4IR towards 2030. The ‘golden thread’ running through the study is the significance of the impact of the 4IR on the workforce and the creation of new jobs for the future, the reskilling of the workforce and the enhancement of capabilities of future factories in embracing the implementation and the incorporation of advanced manufacturing principles in production processes. This must form a substantial consideration in the preparation of the vision of the “Incorporation of smart production in future factories within the fourth industrial revolution towards 2030”. The results of the in-depth analysis of future studies practice and theory in this research study give credibility to the argument that the way in which planning for the future of the 4IR in the South African context is taking place requires insightful adaptation by all stakeholders. The development of new insights through the application of futures studies is vital to this planning process, as is progressively demonstrated in the propensity for present-day business to enable collaborative decisions and strategies that are established on, and informed by, futures studies. This research has attempted to gain insight into the possible future of the implementation of 4IR elements within the future manufacturing factories in South Africa through the creation of four scenarios towards 2030. These are defined as follows: The Fifth Element, which is the ‘best case’ scenario, and to which the country aspires; the ‘worst case’ scenario, in which everything goes badly; the outlier future founded on a surprising, disruptive, emerging matter; and ‘business as usual’ in which no change takes place. The research additionally made efforts to determine the preferred future for the 4IR from a South African perspective, as a base for the Future Vision of the 4IR in the South African manufacturing industry towards 2030. Throughout this study, Inayatullah’s (2008) pillars of futures studies were implemented as a guide in mapping the present and future, further deepening and widening the future through the development of scenarios and, lastly, by transforming the future by narrowing it down to the preferred future. The South African manufacturing sector must select which path to follow in the decisions surrounding the acceptance of the 4IR as the country progresses towards aligning itself with the global players in technology acceptance. Through a unique and innovative approach, the establishment of an atmosphere of trust and the sharing of purpose, values and benefits, a collective Future Vision of the implementing of 4IR elements such as smart production in future factories within South Africa towards 2030, is achievable. All stakeholders must be committed to operating in collaborative partnerships, with government, society, local communities and the workforce all treading boldly together into a sphere of technological, commercial, environmental and social innovation.
- Full Text:
- Date Issued: 2020
- Authors: Abdoll, Delicia Megan
- Date: 2020
- Subjects: Manufacturing industry
- Language: English
- Type: Thesis , Masters , Degree
- Identifier: http://hdl.handle.net/10948/47521 , vital:40123
- Description: Industry 4.0 is impressively creating a lasting impact on the manufacturing industry and on the industry outlook on the benefits of the implementation of new technology. The concept currently trending entails merging cyber systems, the Internet of Things, and the Internet of Systems all together to construct the revolutionary ‘Smart Factories’. The use of advanced technologies brings about new methodologies to improve the results of manufacturing. Complex activities will be performed by machines equipped in using intelligent information systems and new technology to improve productivity, enhance quality, and reduce costs of manufacturing products. South Africa is at the height of the ‘Fourth Industrial Revolution’ (4IR) which will essentially change the way we work. This innovative rubric of high-tech modernisation is characterised by a merging of technologies from the physical, digital, biological, and neuro-technological spheres. The hesitation over jobs being substituted with co-bots, a robot envisioned to actually cooperate with humans in a communal workplace, is profound. Skills volatility is estimated to affect all industries. There are uncertainties that the underprivileged and non-skilled would be thrust into an even profounder deficiency with the upsurge of the digital age. Organisations regard robotics and modern technology as strategic corporate tools that are utilised to enhance short- and long-term profitability and achieve operating goals. In dissimilarity, the application of robotics and modern technology in the place of work increases labour stability concerns, anxiety of downsizings and terminations within the workforce. The purpose of this research was to heighten the comprehension of smart factories in the manufacturing industry by conclusively embracing a methodical examination of the factors which influence the outlook of those involved concerning smart factory implementation and also of assessing the readiness of the South African manufacturing industry for 4IR towards 2030. The ‘golden thread’ running through the study is the significance of the impact of the 4IR on the workforce and the creation of new jobs for the future, the reskilling of the workforce and the enhancement of capabilities of future factories in embracing the implementation and the incorporation of advanced manufacturing principles in production processes. This must form a substantial consideration in the preparation of the vision of the “Incorporation of smart production in future factories within the fourth industrial revolution towards 2030”. The results of the in-depth analysis of future studies practice and theory in this research study give credibility to the argument that the way in which planning for the future of the 4IR in the South African context is taking place requires insightful adaptation by all stakeholders. The development of new insights through the application of futures studies is vital to this planning process, as is progressively demonstrated in the propensity for present-day business to enable collaborative decisions and strategies that are established on, and informed by, futures studies. This research has attempted to gain insight into the possible future of the implementation of 4IR elements within the future manufacturing factories in South Africa through the creation of four scenarios towards 2030. These are defined as follows: The Fifth Element, which is the ‘best case’ scenario, and to which the country aspires; the ‘worst case’ scenario, in which everything goes badly; the outlier future founded on a surprising, disruptive, emerging matter; and ‘business as usual’ in which no change takes place. The research additionally made efforts to determine the preferred future for the 4IR from a South African perspective, as a base for the Future Vision of the 4IR in the South African manufacturing industry towards 2030. Throughout this study, Inayatullah’s (2008) pillars of futures studies were implemented as a guide in mapping the present and future, further deepening and widening the future through the development of scenarios and, lastly, by transforming the future by narrowing it down to the preferred future. The South African manufacturing sector must select which path to follow in the decisions surrounding the acceptance of the 4IR as the country progresses towards aligning itself with the global players in technology acceptance. Through a unique and innovative approach, the establishment of an atmosphere of trust and the sharing of purpose, values and benefits, a collective Future Vision of the implementing of 4IR elements such as smart production in future factories within South Africa towards 2030, is achievable. All stakeholders must be committed to operating in collaborative partnerships, with government, society, local communities and the workforce all treading boldly together into a sphere of technological, commercial, environmental and social innovation.
- Full Text:
- Date Issued: 2020
An investigation into the role of Traditional medicine in an era of biomedicine: Case of Qokolweni Location (KSDM), Eastern Cape, Republic of South Africa
- Authors: Tabi, Chama-James Tabenyang
- Date: 2011
- Subjects: Traditional medicine -- Biomedicine , South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:18434 , http://hdl.handle.net/11260/d1007165
- Description: In most African communities, the concept of disease goes beyond physical and mental pain. To many, societal imbalance, bad-luck, poverty and misery, misfortune, continuous unemployment and a host of others are treated as diseases. Despite biomedical attempts to explain and treat diseases, an ancient system of healing (traditional medicine) continues to thrive in Africa. The World Health Organization (WHO) has since recognized and encouraged governments to accept traditional medicine as an alternative healthcare; to adopt healthcare policies that will promote traditional medicine. Despite this call for recognition, most governments are still reluctant to officially incorporate traditional healing into healthcare policies. Countries which have recognized the relevance of traditional medicine face greater challenges on modalities to control and include traditional medicine into mainstream healthcare. This study is concerned with the role and contribution of African traditional medicine to healthcare, in an era of biomedicine. It provides a public and self assessment of traditional healers. The study also raises concerns on the need for healthcare policies that will enhance cooperation between traditional healing and biomedicine. Information was obtained through the use of questionnaires, in depth and face-to-face interviews with respondents. The actual field research was conducted in Qokolweni location in the King Sabatha Dalindyebo (KSD) district municipality of Eastern Cape Province, Republic of South Africa. Findings reveal that traditional healers handle and manage complex hospital diagnosed health conditions. It also reveals that perceptions on disease aetiology influence health seeking behaviour. It is therefore necessary to understand the efforts of traditional healers in order to formulate healthcare policies that would officially involve them in the mainstream healthcare in South Africa. It is noticeable that traditional healing is not only limited to Qokolweni. It occurs mutatis mutandis else wherein the Eastern Cape and in the whole of South Africa.
- Full Text:
- Date Issued: 2011
- Authors: Tabi, Chama-James Tabenyang
- Date: 2011
- Subjects: Traditional medicine -- Biomedicine , South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:18434 , http://hdl.handle.net/11260/d1007165
- Description: In most African communities, the concept of disease goes beyond physical and mental pain. To many, societal imbalance, bad-luck, poverty and misery, misfortune, continuous unemployment and a host of others are treated as diseases. Despite biomedical attempts to explain and treat diseases, an ancient system of healing (traditional medicine) continues to thrive in Africa. The World Health Organization (WHO) has since recognized and encouraged governments to accept traditional medicine as an alternative healthcare; to adopt healthcare policies that will promote traditional medicine. Despite this call for recognition, most governments are still reluctant to officially incorporate traditional healing into healthcare policies. Countries which have recognized the relevance of traditional medicine face greater challenges on modalities to control and include traditional medicine into mainstream healthcare. This study is concerned with the role and contribution of African traditional medicine to healthcare, in an era of biomedicine. It provides a public and self assessment of traditional healers. The study also raises concerns on the need for healthcare policies that will enhance cooperation between traditional healing and biomedicine. Information was obtained through the use of questionnaires, in depth and face-to-face interviews with respondents. The actual field research was conducted in Qokolweni location in the King Sabatha Dalindyebo (KSD) district municipality of Eastern Cape Province, Republic of South Africa. Findings reveal that traditional healers handle and manage complex hospital diagnosed health conditions. It also reveals that perceptions on disease aetiology influence health seeking behaviour. It is therefore necessary to understand the efforts of traditional healers in order to formulate healthcare policies that would officially involve them in the mainstream healthcare in South Africa. It is noticeable that traditional healing is not only limited to Qokolweni. It occurs mutatis mutandis else wherein the Eastern Cape and in the whole of South Africa.
- Full Text:
- Date Issued: 2011
The promotion of scientific literacy within a museum context
- Authors: Daniels, Nicolette Deidré
- Date: 2010
- Subjects: Museums -- Educational aspects , Science -- Study and teaching (Primary) -- South Africa , Scientific literature -- Study and teaching , Science museums -- Educational aspects , Museums and schools -- South Africa
- Language: English
- Type: Thesis , Masters , MEd
- Identifier: vital:9502 , http://hdl.handle.net/10948/1343 , Museums -- Educational aspects , Science -- Study and teaching (Primary) -- South Africa , Scientific literature -- Study and teaching , Science museums -- Educational aspects , Museums and schools -- South Africa
- Description: Currently South African museums are faced with the challenge of evaluating and transforming their roles and functions as a response to changing national educational needs. The purpose of this study was to investigate whether aspects of the integrated strategies approach to promoting scientific literacy can be successfully employed in a museum context. The approach was used as part of the education programmes at the Port Elizabeth Museum School (Bayworld) and mixed methods were used to gather qualitative and quantitative data on the teachers’ ability to adopt the strategy. Data were also generated on the teachers’ perceptions of teaching and learning, possible activities which supported the approach, and aspects of the strategy which the learners adopted most readily. The findings suggest that active engagement in the process resulted in effective adoption of the strategy by the teachers, improved attitudes towards science learning by both the teachers and children who participated in the process, and improved scientific literacy in both.
- Full Text:
- Date Issued: 2010
- Authors: Daniels, Nicolette Deidré
- Date: 2010
- Subjects: Museums -- Educational aspects , Science -- Study and teaching (Primary) -- South Africa , Scientific literature -- Study and teaching , Science museums -- Educational aspects , Museums and schools -- South Africa
- Language: English
- Type: Thesis , Masters , MEd
- Identifier: vital:9502 , http://hdl.handle.net/10948/1343 , Museums -- Educational aspects , Science -- Study and teaching (Primary) -- South Africa , Scientific literature -- Study and teaching , Science museums -- Educational aspects , Museums and schools -- South Africa
- Description: Currently South African museums are faced with the challenge of evaluating and transforming their roles and functions as a response to changing national educational needs. The purpose of this study was to investigate whether aspects of the integrated strategies approach to promoting scientific literacy can be successfully employed in a museum context. The approach was used as part of the education programmes at the Port Elizabeth Museum School (Bayworld) and mixed methods were used to gather qualitative and quantitative data on the teachers’ ability to adopt the strategy. Data were also generated on the teachers’ perceptions of teaching and learning, possible activities which supported the approach, and aspects of the strategy which the learners adopted most readily. The findings suggest that active engagement in the process resulted in effective adoption of the strategy by the teachers, improved attitudes towards science learning by both the teachers and children who participated in the process, and improved scientific literacy in both.
- Full Text:
- Date Issued: 2010
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