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as free lancers we all know how crucial it is to make sure we get paid and with this digital I got to thinking to my self about a simple concept the us prints so many bills a year in money which as you know decreases the value of our dollar the more bills we make but now and days you don't see to many people taking out cash as much every thing is either credit or debit so my question is do you think it'll ever get to the point where physical money won't be involved in transactions? How do you think currency would be dealt with in the future ?
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Everett
It's a tricky system. But in the future cash will cease to exist, and our currency will be in the form of "credits". It'll work along the same lines as cash, but think of it in terms of the Bitcoin. There is numerous reports, research, and other articles you can read. It'll paint a picture of how the future will work in regards to the economy. I'm assuming we will use gold as a fall back currency in the future, not necessarily a currency that will be exchange but as a medium to detect how much the money is worth. This is already in place, however since the topic is about a cashless society it can be a bit different. For instance, we have the crypto currencies, and they are usually backed by how hard it is to generate a Bitcoin by mining, they don't need a federal reserve to say how much a dollar is worth. For debit and/or credit this is usually done virtually, and it's hard to tell how much money is in circulation due to a lot of it being in online bank accounts, etc. It's a tricky system. But in the future cash will cease to exist, and our currency will be in the form of "credits". It'll work along the same lines as cash, but think of it in terms of the Bitcoin. There is numerous reports, research, and other articles you can read. It'll paint a picture of how the future will work in regards to the economy.
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