Living with Digital Vulnerability: The Reality of Modern Technology

I remember the days of chunky white envelopes with large flaps. The envelope body displayed a breakdown of salary figures. Inside, nestled amongst the details, was the monthly paycheck in cash. My father, on a date lost to memory, would bring this envelope home and stash it securely in our green cupboard. After reserving what we needed for immediate expenses, the remaining amount found its way to the bank – a process that often required a half-day leave due to long lines.

Eventually, employers transitioned to paying by check, with salary breakdowns provided on a separate typed letter. While depositing checks became slightly faster than depositing cash, withdrawals still involved presenting the check at the counter. Multiple people handled the check before it reached the teller who dispensed the requested cash.

The introduction of ATMs offered a significant improvement. Though limited to specific bank locations initially, employees were finally relieved of the need to use leave for banking activities. The next generation witnessed further progress with the rise of internet banking and mobile payment apps like UPI. These innovations eliminated the need for physical deposits and withdrawals altogether. Today, we simply check our accounts online to view our balance. Even overseas transactions involve a simple one-time registration process.

Cryptocurrency, though its legal status remains debated, represents another step in the evolution of money. This digital currency involves the transfer of numbers from one account to another, with these numbers becoming the legal norm for transactions. These numbers, often accompanied by currency tags depending on the country, reflect our digital wealth. Could this be a glimpse into a future with "One Currency For The Entire World, One World With One Currency," as the saying goes? This possibility seems plausible considering the undeniable reality of technology's pervasive influence on banking.

Even within my own family, we see this impact. My father, for instance, remains loyal to his passbook, eschewing ATMs, online banking, and UPI. Yet, he carries a smartphone, demonstrating how technology touches everyone's lives.

Technology's Double-Edged Sword

While technology undeniably streamlines tasks on both individual and organizational levels with a simple click, it's crucial to acknowledge the tireless efforts of tech specialists behind these innovations. Consider this very article – I'm writing it while on the move! However, this convenience raises the question of vulnerability. The manual era presented the risk of physical theft, whereas today's interconnected world exposes us through numerous avenues – social media, online banking, mobile banking, communication channels like email and WhatsApp, even online games and car navigation systems.

The recent Blue Screen Of Death system outage, we trust the media was caused by human error rather than malicious intent, serves as a cautionary tale. While thankfully no major mishap occurred, the inconvenience was widespread and resolving the issue will likely take time. Technology companies must undoubtedly prioritize caution to prevent such errors in the future. More importantly, they should adopt a proactive stance in identifying potential vulnerabilities. They cannot afford to become complacent; continuous innovation is essential in this ever-evolving landscape.

Returning to the manual era is neither practical nor desirable. However, we must acknowledge that technological glitches or intentional disruptions should be categorized on par with natural disasters. After all, both human error and malicious intent stem from human nature.