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- The introduction of the Euro has reduced the number of different currencies.
- 'Chip and Pin' - the use of a chip and code number in credit and debit cards - is believed to have made electronic money more secure.
- Because of the cost savings for banks, an increasing amount of financial transactions are performed via internet banking.
The trend seems to be towards electronic cash. This is also important in the fight against drugs, crime and terrorism. It is harder to trace cash than electronic transfers, and the datamining possible with electronic purchasing records allows sophisticated analysis of individual profiles and their possible criminal activity.
Inflation and Worth of Money
how much money will worth 1 millions USD in about 35 years (2042)?
less than 250 000$ USD today (2007).
Oil, Iron, Gold and Copper will cost more.
Other People's Predictions
A more likely scenario is that robots will be in every store. Surveillance will let the Internet know where everyone is at all times and it will be like a small town where your neighbours will know you're good for it. This will appear around the year 2035. - Anonymous
Gjeremy's Predictions, 2016
In 2016, Biometrics will be part of the City Awareness Grid Electronic C.A.G.E. It will eliminate credit cards and cash and businesses will no longer accept them. Most small transactions can be made by just selecting a product then leaving the store. Face recognition software will recognize the customer. Bigger transaction will require a thumb print or DNA scan. This will reduce counterfeiting, reduce American losses by 60 billion dollars, and will increase the value of the dollar. The dollar will be worth 1.5 Euros.
Global (abstract) currency will exist, and will be interplanetary if necessary. However local cultures can maintain their own form of currencies and bargaining which syncs up with the global standard. That is, the dollar is the current standard today, but will become a local currency in the future, yet no one will be able to trade in the "global currency," as it will only be used for synchronization purposes.