Physical money no longer exists:
To begin with, it should be clarified that digital currencies already existed: the reserves that commercial banks had in central banks or the payments that we made with a credit card are examples of digital money.
In these times, coins and banknotes have become collector’s items and no longer have value. Currently, in the year 2030, everything revolves around cryptocurrencies and NFTs, which are used for all types of payments and transactions. Physical money became an ambiguous payment method that did not take advantage of technology. Digital currencies are much more versatile and are more accessible to everyone.
This change was mainly caused by the approach of companies and people to this field. Many people defended that a digital and global currency would be convenient for the world economy. And so it was, in January 2024 this idea was announced that the different countries they had been debating. The money is found in mobile phones with which a simple scan is used to pay for a purchase. The euro has been replaced by these new currencies just as in Spain it happened with the pesetas.
This digital money has been implemented for a long time, but at that time it was considered a business thing. Today, cryptocurrencies such as Bitcoin or Ethereum are not used for purchases, these currencies are very volatile. However, a project in which the central bank would integrate that digital currency legally. The MDBC currency (so called for the acronym digital currency of the central bank) finally went on the market at the beginning of next year.
Do not think that it was a success, on the contrary. At first the way in which they were used was somewhat diffuse, many dangers, people did not understand it.
Later, and with a lot of work on everyone’s part, it was normalized. The payment method and security in the new cyberbanks were optimized.
Children today do not conceive what it would be like to go to the bakery and buy bread with a coin. They do not know what euros, dollars, pesos or yen are.
This global evolution had many consequences for our way of life, but there is one thing that everyone agrees on: Switching to digital currency was a great success.
Adrián Martín
