for beginners Has the end of physical money come?

[Dormilon 2183]

According to news in recent days, the Asian giant, China, is testing to launch a digital currency, the e-yuan, which would come to compete in the hegemony of the US dollar worldwide, the difference between the two currencies is technology that each one entails, while for the US printing dollars includes expenses in paper and ink, in addition to physical space for storage, the e-yuan will be a digital currency, specialized in financial exchange through devices that will make the modern era of world finance.
With the e-yuan, physical money in China will remain in the memory of many and in the showcases of collectors as something that has completed a cycle within the country.
I must clarify that it is not a Cryptocurrency, it is different, it is centralized and traceable by the Chinese government, which is its issuer, with this this country tries to have its own payment architecture similar to the swift used today by different countries , but whose protagonist is the dollar, the e-yuan will, of course, be more advantageous for these exchanges than the dollar.
Modern times are coming and the existence of physical money is coming to an end, now our money will walk on our devices.
Other information in this regard can be seen at this link:
https://www.dw.com/es/china-lidera-la-carrera-por-la-moneda-digital/a-55174170#:~:text=El banco central de China,digital soberana % 20important% 20del% 20mundo. & Text = From% 20principios% 20de% 20este% 20a% C3% B1o, backed% 20by% 20el% 20central bank% 20.

It is in Spanish, but you can use the translator :)

 

 

 

[Faraor 42]

There are many countries or places/regions in many countries that dont have even an access to the internet. So for them electronic money is something from the fantastic films. But the passage of the time for the new generation ofcourse physical money will not be used anymore. 

[Emma William 2399]

I think it is still too early to talk about this .. Real and tangible money will still have a great importance more than crypto currencies because people are still beleiving it !
But from my humble point of view, in the end the era of real money will end, and the era of digital currencies will come instead!

[DunnoRND 55]

i think physicasl money is already transforming to wireless payment systems, but its not the end for fiat, it will be alive for 10-20 yeas for sure.

[godislovefll 1880]

23 hours ago, Dormilon said:

Según noticias de los últimos días, el gigante asiático, China, está probando para lanzar una moneda digital, el e-yuan, que vendría a competir en la hegemonía del dólar estadounidense a nivel mundial, la diferencia entre las dos monedas es la tecnología que cada una uno implica, mientras que para la impresión estadounidense los dólares incluyen gastos en papel y tinta, además del espacio físico para el almacenamiento, el e-yuan será una moneda digital, especializada en el intercambio financiero a través de dispositivos que marcarán la era moderna de las finanzas mundiales.
Con el e-yuan, el dinero físico en China quedará en la memoria de muchos y en las vitrinas de los coleccionistas como algo que ha completado un ciclo dentro del país.
Debo aclarar que no es una Criptomoneda, es diferente, está centralizada y trazable por el gobierno chino, que es su emisor, con esto este país intenta tener una arquitectura de pago propia similar al swift que utilizan hoy en día diferentes países, pero cuyo protagonista es el dólar, el e-yuan, por supuesto, será más ventajoso para estos intercambios que el dólar.
Se acercan los tiempos modernos y la existencia del dinero físico está llegando a su fin, ahora nuestro dinero caminará sobre nuestros dispositivos.
Más información al respecto se puede ver en este enlace:
https://www.dw.com/es/china-lidera-la-carrera-por-la-moneda-digital/a-55174170#:~:text=El banco central de China, soberana digital% 20important% 20del% 20mundo. & Text = Desde% 20principios% 20de% 20este% 20a% C3% B1o, respaldado% 20by% 20el% 20central bank% 20.

Está en español, pero puedes usar el traductor :)

 

 

 

I imagined this, not only China but many countries will implement their own cryptocurrency as a backup to any catastrophe in their national economy, China is a giant nation implementing a cryptocurrency in their country is an advance compared to other countries that have not implemented any cryptocurrency for national use

[Arpit Gupta 581]

Yes people are getting to know about cryptocurrency in many parts of the world but there are some people also who believe only in physical money. They do not trust on electrical and virtual money. So I think physical money may be completely end when people fully trust on cryptocurrency.

[gusa20 119]

I think that despite the great advances that science has every day, it is too early to talk about the end of physical money since not all countries have at their disposal the necessary technology to implement this system

[Gwataman 147]

I doubtbif there is going to be an end to physical money crypto currency i think it is just increasing the rate of money supply to the world and ithinkit is very helpful that crypto currency will have an impact in this world.

[Naylor89 1223]

This is a good dream but won't happen in near future. This dream is possible if access to internet is everywhere and people are well educated how to deal with cryptocurrency. the current percentage of people using crypto for transaction compared to the total population of the whole world is vey low.

Edited October 13, 2020 by Naylor89

[maap0895 50]

I do not think it is the end of physical money, however I am sure that it is approaching, the sales offered by cryptocurrencies are very large and will tend to exceed physical money very soon.

[Captin 0]

Hello, my friend, yes. Your words may be correct. In some developed countries, the transaction may end with banknotes, but there are countries in which electronic payment technology has not yet entered, and they are third world countries. The talk about the end of the era of banknotes may be a little early.

[abderrazek1980 32]

It is still a long way off because there are large lobbies in the world that do not want that and governments also do not want to let the central banks deteriorate

[George10 9932]

1 hour ago, Raeess Sheharyar said:

Dear friend i have no more knowledge in about but i think they can come together, use both. Since cryptos must be used with an internet connection and in many countries many people at this point do not have internet...

Physical currency will not completely vanish due to some new introductions of digital cash or currency because as you said it's not everyone who can access internet or own a device for storing these digital cash and my point of view is that it will be an option where it will allow both currencies to be used.

[Ramy Hesham 67]

It is a controversial topic these days, as physical currencies are linked to bank transactions and are documented and I do not think that they will be canceled, but the digital currencies are at the same level and the payment through them together will be at an equal point, but this takes two or maybe three years in order to organize this process safely And good like physical

[Jack764 1841]

We are already nearing the end of paper money and all financial transactions will be via electronic payment and mobile phones.  This is a very good step from the Chinese government to facilitate the movement of funds and make economic activity and money freedom more active.  In my opinion, making the central currency of the government in digital form could affect the prices of cryptocurrencies and go down significantly.  But the Chinese government should put in place a high security system for this digital money in order to protect the money and the Chinese digital yuan from attacks by hackers and money theft.

[tienda 8776]

I m not sure because of the cryptocurrency arrives a day when the physical money will end, no and impossible, because I see that they can work together, the difference the cryptocurrency will be exclusive for all online and virtual transactions payment, about physical things face to face with physical money. 

[ETheHedgehog 3104]

it's still far from being true, physical money will be around for much longer than you think, digital money are still not accessible for a wide range of people around the world, and digital security can still be improved, until then digital currencies will continue to gain popularity but physical money will not go away that easily

[babaji 1228]

The confusion you have is to assume e-yuan is any different from yuan. As long as the currency is regulated and is controlled by a central authority, it has nothing to do with crypto currency. If the arguement is just for digital currency, well that debate is settled with advent of online paying systems. 

Crypto currency users shouldn't be bothered with any version or forms of fiat currency. We are here for a fair system, and anything that is centralised financial system, it is not fair, the answer is decentralised, autonomous, absolute transparent system

[Captin 0]

On 10/12/2020 at 7:18 PM, jefferson1000 said:

each time we are closer to that happening, we will only have to wait what if we know is that there is more and more interest in cryptocurrencies and that is what will change fiat for digital

Hello my friend, I respect your opinion a lot, but we have to take into account that there are many countries that have not yet started using electronic payment or even the existence of countries on the Internet that are not available in them .. These will be major obstacles in the future not because of the difficulty of introducing this technology into the country, but because Difficulty accepting the people of these countries for this technology

[wassim19 645]

Developed countries can eliminate material money in light of the continuous use of electronic payment and the ease of this area as long as the necessary capabilities are available

Edited October 14, 2020 by wassim19

[Vencedor 37]

In many countries, physical money is disappearing for multiple reasons, one of which is the cost of printing banknotes, and the expense required to keep them safely, which is why many governments are seriously thinking about acquiring new forms of payment for its citizens because they have seen the usefulness of cryptocurrencies for that and for many other reasons I consider that soon the fiat or physical money as we know it today will disappear

[Mr.Lettuce 157]

I think this could be possible due to the recent amount of people joining the crypto world and digital money, but it needs to be developed and accepted on all countries, also, there are some that doesnt even have internet, so, it could happen on a long term view.

[hhichem 54]

Of course, with the Corona crisis, everything became clear. Everyone uses digital currency and buying online means the end of physical currency

Of course, with the Corona crisis, everything became clear. Everyone uses digital currency and buying online means the end of physical currency

[ajabe2 1485]

Cryptocurrency won't replace physical money completely, but will be replacing more and more percent of physical money and also other electronic currencies. It will be much easier for everyone to use cryptocurrencies If there is enough infrastructures like internet connections and mobiles.

[yahiabennadir 51]

I think that 

In future we have to get crypto because people have come to prefer electronic payment and everything that is digital, and cryptocurrency is the best option