Monday, July 10, 2017

ATM and real money

In this blog, I wrote about the cash some time. Most people believe cash is out of date. At the same time, however, most say cash is indispensable in their daily life.

Japanese are fond of using cash compared to people in other developed countries. Ten thousand yen cash is very commonly used in Japan, while 100 GBP cash is quite rare in the UK.

And interestingly, some Japanese do not trust credit cards. They believe that possessing a credit card is a way to be ruined. It is a biased idea. But actually, some people bankrupt due to debt with credit cards. Credit card providers in Japan offer various options about the lending. Therefore, some people are trapped without understanding the risk.

About 50 years have passed since ATM was invented. Nowadays, also Bitcoin is available in some ATMs. But it is unsure till when they will survive.

International Business Times: Fifty years of the ATM: How long can cash survive in a digital world?

Bitcoin and Blockchain scheme can record all of your estate with very low cost. It has a potential to replace conventional currency completely. It will take some decades, but it will solute several problems around money, such as tax haven and money laundering.

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