Blue Tech News » technology colleges http://www.bluetechnews.com Sat, 07 Jan 2012 13:31:34 +0000 en hourly 1 http://wordpress.org/?v=3.3 Modern Technology And The Future Of Money http://www.bluetechnews.com/modern-technology-future-of-money.htm http://www.bluetechnews.com/modern-technology-future-of-money.htm#comments Tue, 20 Jul 2010 11:23:20 +0000 tamplonia http://www.bluetechnews.com/?p=45 The concept of money has changed with the passage of time. In the days gone by objects of intrinsic value were used as money. For example gold and silver coins were popular up until the 19th century. However that changed with the advent of paper money which was initially redeemable against gold which had intrinsic value. However, that too changed and today no currency in the world is redeemable against gold. So what is it going to be like in the future?

The fact of the matter is that modern technology is going to dramatically change the concept once again in the near future. It has already started showing its influence on the financial system to a great extent. Online banking and shopping for example is one of the biggest changes that we have noticed in our times. The use of credit and debit cards is also popular world over.

Slowly but surely the need for carrying around paper money is being wiped out. So, what next? Financial experts with insight into future technology have predicted that paper money will soon be replaced with electronic money. In other words you wont really have any cash in hand in near future because everything will be digitized.

What you earn will be numbers that appear on your screen and that’s about it. Although this may sound surprising to many people, it is not very difficult to imagine a world without money, well, paper money at least.

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