Friday, April 8, 2016

Your child will never see cash

The rapid development of the information technology has made many things outdated. Among them, there are two particular tools which have been essential for our daily life for a long time: paper and cash.

It is said that paperbacks, newspaper, and magazines will perish soon, while some people are opposing to this estimation. I think paper will never disappear from the world forever, even if all of us equip a wearable computer. The paper is a material which can store information without any reading devices. It also survives centuries. These merits are hardly replaced to the computer.

On the other hand, cash will perish within a few decades, I guess. Nowadays, we can live without any inconvenience if we have a valid credit card, at least in a big city in Europe or the US. We seldom need cash. In Japan, the availability of the credit card is inferior to other developed countries. Instead, we often use digital money such as SUICA, or a mobile phone, to make a payment.

My past entry: Three reasons I feel Japan is still immature

Recently, a survey was conducted to prospect the future regarding this issue. Approximately 2,000 social media users replied to the questionnaire. As a result, the majority thought that digital payment would exile the cash by 2030.

ITProPortal: Kids born today might not use cash at all

It is not a dream. Indeed, Denmark is preparing for a cashless society with seriousness.

My past entry: Cashless society is coming

Actually, nobody makes a deal for millions of dollar with real notes. They use a personal check or bank transfer. On the other hand, payments with a few coins are quite annoying. Service chips are included to the original cost in many restaurants. The occasion we have to possess cash is gradually shrinking.

There is another meaning about the vanish of cash. Banks will be no more dominant in the financial industry in the future. Bitcoin and other crypt currencies will be more common. And Mileage and other token offered by a big company will substitute the real currency. In some countries, official currency guaranteed by the nation is not trusted at all. The concept of money itself is also challenged by the coming era. Perhaps, you will be paid the salary with Amazon point after a decade.

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