Goodbye physical money by aplausos

hive-175254 · @aplausos · Nov 16 '21

$2.87

Goodbye physical money

<div class="text-justify">A few years ago it seemed impossible to us the so-called digital money, we had the feeling that in order to feel the purchasing power we needed the bill or the constant and sound currency to be able to shop anywhere. I must admit that I have not touched a banknote for about two years, obviously I live in Venezuela and the currency handling in the country is different from the exchanges that take place anywhere in the world. 


<center>![images.jpg](https://cdn.steemitimages.com/DQmNZNkko52J6ZQDsMJtGtv7GDBBityqfxE5cpXCPh8632j/images.jpg)</center>
[Source](https://c.tenor.com/d_P1ag60gP8AAAAC/money-cash.gif)


We must establish the difference between electronic and virtual money, the big difference between electronic money and virtual currencies lies in the fact that in electronic money, the funds that are delivered to the electronic money entity to be issued originate in banknotes or coins from a central bank (euros, dollars, pounds, and others), therefore it receives denomination in some currency, and the virtual currency although it can have origin in central bank money, it will never be denominated taking a currency as a reference. In Venezuela we obviously have electronic money, although it is called digital, it is not and does not act as such. This change has been only nominal, not functional.


![oropng.png](https://cdn.steemitimages.com/DQmZLNuujbQaaVpMiTzatk9QR3A81mrGB291iEaBt5vsgJJ/oropng.png)

The money of the future is obviously not in the physical, it is turning to digital currencies and even cryptocurrencies, the disappearance of physical money would bring greater control by governments of the economy that works with laundering or tax evasion.  The disappearance of cash would bring savings for countries and nations in manufacturing, distribution and logistics, as well as speed and immediacy in consumer purchase operations. On the other hand, it would also bring the loss of confidentiality, loss of control of expenses in family economies in which there may be poor administration. The population with less economic resources does not always have modern and updated cell phones or even sometimes do not have electronic bank cards, would be seriously affected as is happening in the country, where users borrow cards, exchange them among other things.</div>

👍 project.hope, gunthertopp, ph-support, hingsten, bippe, xpilar, eric818, crypto.piotr, tocho2, unbiasedwriter, protoss20, sbdpotato, reeta0119, cyrusemerson, sumit71428, chesatochi, beckie96830, vlemon, ph-fund, shaunmza, alokkumar121, steemgoon.cur, mauromar, emiliomoron, mccoy02, awah, samminator, lenonmc21, cyemela, iansart, talktofaith, eberechi10, creativeblue, luckyali, mrsquiggle, akdx, menoski, ecoinstats, arunava, franyeligonzalez, churchangel, muratkbesiroglu, adityajainxds, msquaretwins, karamyog, solarwarrior, atim1234, futuremind, upme, maazmoid123, robmolecule, daverobe, buildingpies, kingcent, humor0404, mbemba2310, chucho27, bigpower, amestyj, designieplay, beargame, janettyanez, fucho80, tolustx, and 177 others
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@jennyvic09 · Nov 16 '21

Very soon physical money will be useless as people will no longer use it again. Although I still spend physical money sometimes but must of the time when am going out I prefer to hold my ATM card as payment or transfer. I guess that in the next 25 years there will be no need for physical currency again.

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@aplausos · Nov 18 '21

In my country we almost never have physical money, it is difficult to get it, of course the circumstances here are more complex, without wanting to we are already at the forefront of not using physical money, thanks for your contribution, success.

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@lupafilotaxia · Nov 17 '21

Hello @aplausos

Tragically in this modern global society, the population with less economic resources does not always have modern and updated cell phones, and without a doubt, this is a great disadvantage to be able to circumvent with extio digital exchanges and not depend on physical currencies.

Best regards, be well.

👍 lupafilotaxia

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@aplausos · Nov 17 '21

Yes, that is the most regrettable fact, however, I believe that against all odds we will all go there, thank you for your comment.

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@emiliomoron · Nov 17 '21

Greetings friend, very interesting writing, really in another context is difficult to imagine not relying on physical money, even my dad used to say "I remember when he had a wad of bills in his pocket" as you say, that allowed him to feel his purchasing power in his hands, but times have changed and almost no one makes a payment with physical money, except a few cases like paying a bus fare or a newspaper, but certainly the future is towards electronic money and cryptocurrencies.

👍 emiliomoron

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@aplausos · Nov 17 '21

Yes, I believe that physical money will disappear in a few years, greetings and thank you for your comment.

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@karupanocitizen · Nov 17 '21

In short, in the future we will focus more on the exchange function that money provides us, rather than on its physical existence, I believe that this paradigm shift will open many opportunities for cryptocurrencies.

Greetings @applause, thanks for your interesting post

👍 karupanocitizen

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@aplausos · Nov 18 '21

Cryptocurrencies will undoubtedly become part of this new financial mechanism, so you should know a lot about them, thank you for your valuable contribution.

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@tocho2 · Nov 19 '21

Hello @aplausos, the substitution of physical money for digital money will occur within
 a short time ago and a few months ago to mention this would sound incredible and would even seem like a fictional story, but today we see it closer and we are even somewhat predisposed to it, because the adaptations that we are testing when we are immersed in driving cryptoassets can be considered as a preliminary test.

I liked reading it in your post, at least in Venezuela very few people talk about this topic.

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@lanzjoseg · Nov 24 '21

It sounds very good and I am aware that what you describe can happen, however, I do not want to be pessimistic, but I am also sure that there is still a long way to go for this to happen.

👍 lanzjoseg

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@aplausos · Nov 24 '21

Yes, there is still a long way to go and I really can't tell you if there are more advantages than disadvantages, but the road shows us that we are going there, thanks for commenting

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