Channel Button

There are 19 articles on this title. You are reading the article ranked and rated #7 by Helium's members.

Business   >

Business (Other)

Get a Widget for this title

Will paper money become obsolete?

by cameo

I think the answer, unfortunately, is that paper money will not be with us for much longer. It is inevitable that electronic payment methods replace the archaic system of notes and coins.

However there is a ray of hope. At present, electronic payments are inconvenient for small transactions, for example those which involve individuals. We all use our credit cards when buying from a company, who will have an electronic payment platform in place to facilitate the transaction. As yet, though, we as individuals do not have our own personal system or device that enables us to accept electronic payments - well, not in any useful and common form anyway. Eventually i am sure we will use our mobile phones for payments and sending the equivalent of a text message might constitute a payment, but in the medium term while electronic payment is too inconvenient for small transactions then traditional money will remain.

The other aspect is control. People may be reluctant to give up paper money when the time eventually comes, because going completely 'virtual' with your finances takes the control away from you and places somebody else in control. Would you feel confident placing your trust in banks and possibly Government? We have all seen films set in the future where we are all tagged and logged and monitored, and any attempt to free yourself from the system results in you being forced to drop out of society and live underground. When the individual has no power, and large institutions have all the power, the institutions are king.

In this sense money has far greater importance beyond its simple purpose of enabling transactions - it is fundamental to individual liberty and we give it up at our peril.

Learn more about this author, cameo.
Contact this writer Click here to send this author comments or questions.


Below are the top articles rated and ranked by Helium members on:

Will paper money become obsolete?

  • 1 of 19

    by Dambrath

    I think that eventually paper money will become obsolete altogether, as we have already seen happening with coinage in some

    read more

  • 2 of 19

    by Phoenix Abundant

    Western movies often show characters paying for goods and services with gold dollars. Because the value of gold was guaranteed,

    read more

  • 3 of 19

    by Cody Hodge

    Will paper money become obsolete? I don't think so, and there are a few reasons why. It seems that while currency changes,

    read more

  • 4 of 19

    by Mike Mccarthy

    Paper money is somewhat of a dinosaur in current times. Many current payment routes are already closed to cash, with a preference

    read more

  • 5 of 19

    by Lana Stockton


    Will paper money become obsolete? The question triggered a memory of something I saw while standing in line at McDonald's.

    read more

View All Articles on:
Will paper money become obsolete?

Add your voice

Know something about Will paper money become obsolete??
We want to hear your view. Write_penWrite now!

Helium Debate

Cast your vote!

Should large companies maintain high ethical standards?

Click for your side.

120674

Featured Partner

Law Enforcement Against Prohibition

LEAP has partnered with Helium, giving you the chance to write for a cause. Browse LEAP's featured titles, pick ...more

What is Helium? | Buy Web Content | Contact Us | Privacy | User agreement | DMCA | User Tools | Help | Community | Helium’s Official Blog | Link to Helium

Helium, Inc.
200 Brickstone Square Andover, MA 01810 USA