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The Future of Currency Is Digital

The Role of Money

Would we be much better off without paper currency and coin? Some say yes, and some say no and the dispute raves on. Federal government tax collectors would choose just electronic or digital money – it’s simpler to manage and much easier to keep taxpayers truthful – but are those gains worth the downsides? I mean what’s wrong with money – you can invest it anywhere, you can pay your sitter, go to a yard sale, or stop at a lemonade stand – all which become part of our underground economy by meaning and safe usages of moving money.

Money Trail

Then there are the prohibited things, nobody utilizes digital money because it leaves a trace, so you cannot use it to purchase things you are not permitted to purchase or that another person is not enabled to offer. Does it hence, make good sense to get rid of the cash that enables unlawful deals, closed down the whole underground economy and if we do, will our society and civilization be much better or even worse off for that service? Let’s discuss this shall we?

Digital Currency

Yes, a digital currency would resemble routine currency and truly we are nearly there anyhow. If we go to “digital systems” and change the paradigm to cover the needs of people who contribute who are not rewarded relatively now, then we will get more of what we reward, as is the popular axiom. A technocrat would enjoy this discussion and the idea of micro-managing the precise worth of every job, but technocrats are not so proficient at considering their own produced unexpected repercussions as they pave the roadway to hell.

Trade Basics

The reason human beings use money now is merely because things and options are more complex than they were in the past when our types were just hunters, collectors and traders. Let me describe; you see, if I make hammers and you need one, but you only have livestock, then you cannot cut off the tail of your cow to purchase my hammer, so rather you offer me $11 and you can offer your cow in the future for $1100 and offer me the one-percent of it so you can construct a brand-new barn.

Money and currency is absolutely nothing more than systems of trade hence, make things much easier, that’s why it exists. But I do not like the slamming of currency, digital or otherwise, where many think it is the root of all evil. I respectfully disagree. Please think about all this and think on it, as this subject does impact your life.

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