IEEE Spectrum Digs Into the Future of Money

New submitter ArmageddonLord writes "Small, out-of-pocket cash exchanges are still the stuff of everyday life. In 2010, cash transactions in the United States totaled $1.2 trillion (not including extralegal ones, of course). There will come a day, however, when you'll be able to transfer funds just by holding your cellphone next to someone else's and hitting a few keys — and this is just one of the ways we'll wean ourselves off cash. In 'The Last Days of Cash,' a special report on the future of money, we describe the various ways that technology is transforming how we pay for stuff; how it's boosting security by linking our biometric selves with our accounts; and how it's helping us achieve, at least in theory, an ancient ideal — money that cannot be counterfeited."

Comments

Cash is making a comeback

[XxtraLarGe]

A lot of people are starting to pay in cash again simply to get out from under the oppressive thumb of the credit card cartel. It also helps with budgetary discipline, which is why guys like Dave Ramsey are preaching it to the people.