Essay on What Is The Future Of Money?

Essay on What Is The Future Of Money?

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What is the Future of Money?
The creation of money is possibly one of the greatest accomplishments of human civilization. Since the beginning of humanity, individuals have used money as a way to pay for goods and services. Over the years, money has been used in various forms and continuously changes to best fit modern society. Our society no longer has to depend on gold coins, cocoa beans, or anything else of intrinsic value that has been used in the past. In today’s society, we use paper currency, which is fairly convenient and easy to carry around with us. Over the past decade, our economy has experienced tremendous changes due to the introduction of new cutting edge technologies. Millennials are accustomed to a digital world and most likely will experience the transition from paper money to digital money. The advancements in technology over the past several years has allowed consumers the opportunity to buy and sell goods over a computer network known as the Internet. The internet is a much more convenient way of shopping compared to fighting crowds of people at your local mall during the holidays. We must start to prepare ourselves for the digital age of currency, an age in which a small amount of our money will actually be tangible. Many individuals are concerned about the privacy and security issues that may arise from the transition to digital currency. However, the more research you do on digital payments, the more you will realize that it is very safe and efficient when compared to paper money. I believe that the transition to a digital money era is still in its early stages. As we continue to experience these rapid technological advances, it will ultimately lead to the extinction of paper money.
I believe that money is ...

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...leased from escrow as verified transactions, the miner who successfully solves the equation gets a 25 bitcoin reward, and the solved block of transactions is added to the block chain, a virtual history book of every bitcoin transaction that ever took place (Bryans 447). The next several years will serve as a crucial testing period for Bitcoin. The majority of the world’s nations are open-minded when it comes to the promising currency of the future, but each nation is aware of the crucial changes that must take place to improve it. The average investor is kept away from the hackers and criminals that tend to steal the currency and abuse it. As of now, most consumers still believe that the risks outweigh the rewards. If Bitcoin is able to keep away the hackers and consistently uphold its value then it can possibly become an accepted part of the global financial system.

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