Applications of wearable technologies such as outlined for healthcare will

Applications of wearable technologies, such as outlined for healthcare, will require a huge amount of data collection and assimilation. Everyday forms of wearable technology, such as 'smart' watches, would link automatically to social network accounts and potentially share personal data automatically. The concept of information privacy in this context could be placed under significant threat if such technologies could bypass user consent to data sharing so easily and subtly. Wearable technologies may also provide an opportunity to transform our fashion rather than simply transfer existing technology into it, with resultant implications for the emergence of new types of art and culture. Some members of society may feel particularly uncomfortable in wearing clothing or technology that contravenes personal religious or cultural views or beliefs. 10

INTRODUCTION TO COMMUNICATION| CBFC1103 iii) Illustration 3: Virtual currencies (Bitcoin) 'Virtual currencies' have gained much attention in recent years and this emerging technology offers significant opportunities for policy-making. The European Central Bank differentiates between two categories of virtual currency, one being electronic money schemes using traditional units (such as Euros) and the other whose units are an 'invented currency' such as a virtual currency. The key element of many virtual currencies, and in particular the Bitcoin system, is the anonymity of the users of the system. It is due to this level of encryption that a virtual currency such as Bitcoin is in principle much more secure than using cash, credit and debit cards or direct money transfers between traditional banks. Bitcoin is in fact the first global electronic currency to have even been developed ( Clegg, Alastair G, 2014) . The issue of the security of virtual currencies such as Bitcoin should also be one of concern for policymakers alongside the positive benefits it could provide. For example, use of Bitcoins opens up the possibility of fraud and other criminal activities increasing alongside greater use of this virtual currency. This is because users can only be identified by unique numbers in comparison to existing bank customers who are typically identified through fixed details such as names, dates of birth or addresses. As it is impossible to know whether a Bitcoin user represents an individual or a group. By the end of 2014 many communications on the internet were still not encrypted, including email for instance, and it remains relatively easy for governments to tap information for massive surveillance purposes. If encryption were to be more widely used for virtual currencies such as Bitcoin, the use of virtual currencies may still not be safe and secure for the users. 11