1 thought on “Will the electronic currency completely replace the paper currency?”

  1. There is still some time to complete the paper currency now. In the future, electronic currencies may become the most common way of payment. Maybe now we should start collecting some banknotes and coins, maybe they will become very precious antiques in decades. Currency can be made from various materials: round metal (coins), valuable metals, beautiful stones and shells. Both Africa and Asia have used shells as payment methods. Over the past few hundred years, gold coins and silver coins have been replaced by coins made of banknotes and cheap metals. Before the emergence of currency, people had already traded, paid labor, and paid. At that time, it was the form of object exchange, such as food, edible oil or wine to exchange things needed. However, it was inconvenient to put your labor compensation in the oil tank to drag it, so the practical alternative of currency appeared. Currency can not only be paid as salary, but also can be used to buy other items
    Expanded information:
    1, the advantages and disadvantages of electronic currency: Disadvantages: require strong support for third parties. The bank deposit must have good reputation, strong funds, and high -quality financial institutions to guarantee, so that the depositors dare to deposit cash into the bank. Electronic currency needs to have the support of computer network platforms. Without platform support, electronic currency cannot be used. New risks occur. The existence of these platforms and third parties also brings new risks. For example, hacking attacks that have appeared before, resulting in the stolen funds in many customer bank cards; the scope of use is limited. In the current real life, many places cannot use bank deposits and electronic currencies, such as buying vegetables in the vegetable market, you must pay cash. Advantages: convenient, fast, efficient, economical. Help tax authorities and other inspection statistics related data.
    2, the difference between electronic currency and digital currency mainly includes the following aspects: 1, different digital currency: such as Bitcoin fast, economic and secure payment settlement. Electronic currency: The final bank settlement is completed between banks and banks through the payment system.
    3, the characteristics of different digital currencies are characterized by low transaction costs, fast transaction speed, and high anonymity. The characteristics of electronic currency are anonymous, saving transaction costs, saving transmission costs, flexible and convenient payment.
    4, different types of digital currency: If Bitcoin can buy virtual commodity services, or real product services. Electronic Currency: It is the electronic wallet paid in the bank card through the Internet card

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