Material Digital Technologies Assignment Sample

Material Digital Technologies Assignment

Part 1: Unpacking the Dodd-Frank Act 1502 — Conflict Minerals, Regulation, and Controversy

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Dodd-Frank 1502 is an insufficient answer for an emergency that has nothing to do with mineral abundance except for everything to do with the bombed initiative, absence of political will, and bungle of public assets. Any significant assessment of the effect of this regulation should initially recognise this reality. Over the last few decades the global fitness, which has investigated the connectivity links between the lucrative trades in tin, tungsten, tantalum and gold, also has to go through the issues in Congo for conflict. The conflict regarding for the minerals has involved several countries in the central Africa and whereas due to this several deaths has occurred which was predetermined and the conflict in Congo is difficult to understand as it supports through political tensions along with ethnic grievances and disputes over the land. In the year 2016, there was a record tracking of extracted out about 38 million US dollars from the region of Congo and the communities. After mining the natural minerals from Congo they had taken place in the supply chain globally and after these considerations they had spread the manufacturing principle and hence they produced industrial and consumer products. Above all is the “conflict minerals” provision, which is commonly known as section 1502 Dodd-Frank act. And this act, in the year 2010 the US govt. has set rules according to the list of the companies for their supply chain strategy.

Aimed at members of the general public

The main and crucial matter is that some of the members are unable to accept the full considerations of the Dodd-Frank Act 1502 though the US authorities have given access for lending and also put restrictions onthe financial industry and the making of the programmes in order to prevent the mortgage organisation from allowing the lenders to take advantage of the consumers. Dodd-Frank has already produced serious protocols which have been enabled by the government in order to regulate and maintain in a more organised manner for enforcing the laws against the banks as well as for the other financial institutions.

Explaining arguments for and against the section's repeal

The most far-reaching for Wall Street, which was reformed previously, the Dodd-Frank Act will prevent the excessive risk-taking strategies which led towards the financial crisis. The law which has acquired common sense protections for the American families, along with creating customers in order to measure the mortgage organisation and the lenders from exploiting the consumers. The one thing is that the biggest disadvantage or the negligence for the Dodd-Frank Act towards the neglected address for the consequences, like mortgage industry giants such as Freddie Mac and Fannie Mae, which were both the epicentre of the crisis, is enhanced to dominate the finance market, whereas the government guarantees or owns the maximum number of home loans.

Dodd-Frank Act

(Source: https://www.magnifymoney.com/mmassets/uploads/2019/05/brief-history-of-dodd-frank-act.png)

The above figure is on the characterisations of the digital material technology and its considerations for it. Any kind of learning through the internet can be called digital learning and for suitable selection of the digital materials (Damsa, 2019). The above figure is classified into five groups, from which an approximate idea could be extracted. To discuss more efficiently, there are an eight digital transformation technologies which are enlisted below:

• AI Artificial Intelligence.
• AR Augmented Reality
• Blockchain
• Drones
• IoT: Internet of things.
• Enhancing in Robotics
• VR: Virtual Reality
• 2d, 3d printing

All of the above points have usual meanings when it comes to distinguishing with the other materials for different functionalities. One thing is that digital material technology has a long way to go or it can be determined as a never-ending process (Krymov et al. 2019). The technology has transformed on a regular basis and now the world has acquired the importance of digital material technology.

Part 2: Understanding the Impact and Structure of the Dodd-Frank Act 1502

Basically, to me, the Dodd-Frank Act 1502 has greater importance when it comes to rationalising each of the factors consequently and to be more specific, the reason behind this act is that it creates the consumer financial protection bureau which is assigned to protect the consumers from predatory and deceptive financial practices by confirming the banking principles and student loan and mortgage mechanism involvement, whereas the credit card organisation manipulates the set of instructions or rules. By through researching the article, I have gained that there are approximately five areas under the Dodd-Frank Act, such as the area below:

• Resolution authority.
• Systematic risk and its maintenance.
• Rule of Volcker.
• Consumer protection.

The Dodd-Frank Act (formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act) is a United States administrative regulation that places guidelines of the monetary business in the possession of the public authority. The regulation, which was sanctioned in July 2010, made monetary administrative cycles to restrict risk by implementing straightforwardness and accountability.

Reference List

Journals

• Damsa, C.I., 2019. Learning with digital technologies in higher education. Journal of Educational Sciences & Psychology, 9(1).
• Krymov, S., Kolgan, M., Suvorova, S. and Martynenko, O., 2019, March. Digital technologies and transformation of modern retail. In IOP Conference Series: Materials Science and Engineering (Vol. 497, No. 1, p. 012126). IOP Publishing.
• Obukhova, A., Merzlyakova, E., Ershova, I. and Karakulina, K., 2020. Introduction of digital technologies in the enterprise. In E3S Web of Conferences (Vol. 159, p. 04004). EDP Sciences.
• Travush, V.I., Belostosky, A.M. and Akimov, P.A., 2018, December. Contemporary Digital Technologies in Construction Part 2: About Experimental & Field Studies, Material Sciences, Construction Operations, BIM and “Smart” City. In IOP Conference Series: Materials Science and Engineering (Vol. 456, No. 1, p. 012030). IOP Publishing.