Electronic payment systems are convenient and secure. So why is acceptance slow?
Making money – and we do mean printing your own currency – is a crazy idea. Fraught with problems. Controls. Design. Counterfeits. Legality. Acceptance. Those in favor say it stimulates the local economy and protects against economic uncertainty. But as an competitor to electronic payment systems, it is an idea coming too late and will soon make way for newer technology. But does printing your own money really work? Apparently so.
CNN, in an article describing, How to start your own currency, says,
All across the world, from hipster American communities, through colorful UK neighborhoods to small German towns, people have been using homegrown currencies to stimulate local spending and protect against economic uncertainty.
Printing money notes will continue to fade away as electronic payment systems begin to really catch on. When printed cash is completely bypassed we will have earned the title of a cashless society. How will consumers use technology to make their purchases in the near future? Once again CNN favors us with an answer. Though each of these answers are viable, demonstrated by strong financial consumer support, they have their problems. Acceptance is still slow. Read more →