Shafi: DIGITAL MONEY

Shafi: DIGITAL MONEY: "     Money! Money! Money! Every one need it and likes to get it more and more. It is not enough how much ever we get. Withou..."

DIGITAL MONEY

     Money! Money! Money! Every one need it and likes to get it more and more. It is not enough how much ever we get. Without money no one can survive in this world. Money is the one which decides person's status, class and success. Money can turn two good friends into enemies and it may also be the reason for two enemies to become friends. The greediness to get more money in a person can convert him into a killer, it can give a life and at the same time it may be the reason for some one to lose their life. Though money can't give peace of mind it can give a person comfortable life. Though it can't prevent death it can extend the life. In this modern world we can say Money is the God which decides every thing in our life. What ever it may be “We can save money but money cant save us.”

     Now day money comes in different forms, size and colors, it can be in the form of metallic coin and paper notes. Few years ago in 1999 we saw Euro currency was introduced in Europe. That means the European were not using money before? I know that you know it is not like that. Just the names of the currency and the form of its appearances have changed In order to unify the currency all over the Europe. Euro had become the second most commonly used currency after the dollar in the primary international bond market. Many large companies use the euro rather than the dollar in bond trading, with the goal of receiving a better exchange rate. The value of money changes from one country to another. The variation in value of money form one place to another place makes the peoples to leave their country and family and go to far off countries to earn more money for their better life back in their own country.

          If we see back in history of money, it has seen lot of changes. During the times of kings the money was in the form of Gold and Silver coins, as the time passed cheaper metal like Brass, bronze, etc took the place of precious gold and silver metal coin. Some culture even had a stones as currency. Yes stones were considered as money for transaction in the small group of island of Yap in the South Pacific. Now day money comes in much cheaper metal like iron and steel and of course paper too with colorful picture of leaders and embalms on it. As we all know laughing Gandhi Rupees Notes in our country and one more thing with lot of security measures so that no one could print money by himself and become rich. Only RBI has rights to print for all of us. But still cleaver guys print the fake currency notes which are so difficult to identify even by the experts. Our government not even print new currency even if its currency looks worst than the garbage. Yes few years ago in India we would have seen and suffered to do transaction with a torn, damaged, and dirty notes which even had a lot of plaster on it to keep it intact and recognize it as a money the funniest part is that we could not able to find out whether it is a two rupee note or 5 rupee note and one more thing is that we don't know whether the Notes had a value or the plaster on it because some time the plaster on it valued more than the currency note itself. What ever it might be we Indian feel proud to say that in ascent time our ancestor used gold coins.

     From past few years due to globalization we Indian slowly getting adopted to new kind of money instead of currency notes and coin we have started using credit card and debit cards, Which have replaced the currency's job and it is safe to keep the money in the banks and use it through when ever we want to. We no longer have to take the money in our pockets. It has reduced the risk being robbed, but some time the card themselves have been robbed and the worst is event the ATM machines itself are getting robbed. We should appreciate the robbers for their intelligent, presently every one don't have the debit/ATM card or Credit card facility only some class of society can have it and remaining should carry on with their plastered and dirty currency notes. Just joking now the thinks we are getting new currency Notes in our ATM.

     Recently our Rupee symbol was also introduced.Though some are feeling difficult to write symbol correctly yet we are proved to have our Indian Rupee symbol going world wide.

     In feature we no longer see ATM in fact money itself. Yes we can't see the money or even touch it, yes there will be no money physically only we can feel it by spend it and earn it, but can't see it, not even the credit and the debit cards will be existing in the future. You might ask how one could earn and spend the money without even seeing or touching it. Let me tell you, the journey of money so far has come to plastic credit and debit cards. From gold, sliver, stone etc. in feature as the science and technology improves along with poverty. New technology give rise to new money transaction mode similar to present day Internet banking or mobile banking in future some more advance mode of money transaction device enable us to use money without physical cash or cards. Instead of card and cash our own body part itself may be used. For example our finger print may be used as a PIN to access our account for transactions. Which will be scanned by an intelligent scanning device for authenticate our identity to complete the transactions. Similarly other body parts could be used in future for example our eyes or infrared picture of his face or just our voice may be enough. In this kind of transaction we could see money only in the form of just digital numbers on the screen of intelligent authenticating device or print on the transaction bill or just heard as a voice in the case of voice authenticating device.

     The future RBI no need to print fresh notes or deal with damaged notes and no need to have any money storage. The banks would not be protecting the physical money in the locked rooms instead it needs to safeguard only its super computer which will be having the information of its client's accounts and authenticating details from the super intelligent robbers or hackers and of course each individual should take care of their fingers and eyes balls being robbed.

By - Shafiulla.A.G
agshafi@gmail.com