Currency and Money are different related concepts. Money is not currency and currency is not money.

  • Money – is not real, not tangible. It is the value of something.
  • Currency – is what we use to represent money.

Money Machines – Currency squirting out of a machine would have seemed almost magical 100 years ago. It was a pretty amazing innovation when you think about it. Okay, great. Now what? We’re still forcing people to go get cash out of machines 30 years later. Okay, we’ve added debit cards, and credit cards have obviously become much more widespread (another topic for another day). But with all of the other technology we have around is dirty old money really still necessary? This is another example of our relative lack of progress.

With physical currency we have to:

  1. Make it – huge, expensive and environmentally unfriendly printing and smelting processes.
  2. Transport it – More expense and harm to the environment, especially when you consider having to keep every ATM everywhere in the world full of it 24-7.
  3. In most transactions humans have to handle it (for the most part), posing health risks and opportunities for forgery (more expense, especially when you consider all of the modern technology that goes into making forgery harder).
  4. It eventually has to be disposed of.

Can we not evolve this process?

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