Has the Time for Electronic Currency Come? Imagining an E-Currency Future for Money

Abstract

The more civilized, refined, analytical and scientific, that people became, the more refined, sophisticated, systematic and symbolic, became the form of currency. All that a primitive person needed was a hunting knife to satisfy his varied wants. Now that tool has progressed and evolved into the modern-day credit card, with which people can buy anything they need. The process of evolution continues into the future with currency changing as the times change. This paper argues that the present direction of global economic change signifies the need for the development of alternate modes of currency as a medium of exchange that can match the fast paced, computerized economy. The future is thus in the use of handheld electronic ‘Currency (Cash) Pads’ which will replace paper currency for many day-to-day transactions.