For thousands of years we have used stones, shells, coins and paper as portable value. A tradable currency if you will, mere tokens of trust we can use to buy and sell our goods, commodities and services. Cheque books, cards, digital money and wallets are just recent manifestations of the same progressive need for greater portability and utility. As ever, trust and security are the really big deal.
It is hard to think of anything more insecure than coins, notes, cheque books, and plastic cards -- yet the spotlight is never pointed in that direction. It seems to be permanently focused on digital money. But the internet and digital wallets alike are considerably more secure than any "currency of atoms' we pass hand to hand.
This is accepted in Japan, Korea and Africa, where banks expect account holders to adopt the "digital wallet" facilities on their smart phones. Of course, if people are taking a trip into the past and touring the West plastic cards are still available.
By: Peter Cochrane, Edited by: Olivia Solon
Continue reading...Source: http://www.wired.co.uk/news/archive/2013-04/25/money-has-always-been-virtual
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