In the process of digitizing services, could we see the end of cash?

Cryptocurrencies, mobile money, mobile bank, debit/credit cards, in short electronic/digital money.

For those who don't know, it was the Chinese who invented paper money, commonly known as money or paper money, the famous cash. This was done in the XNUMXth century in order to prevent people from circulating with a lot of gold (the trade currency at the time), which took up a lot of space and was very heavy. Then they will peg the gold to a specific stock.

And since then, we've used paper to pay our bills. But, truth be told, for roughly 10 years for those who have a smartphone and a bank account mainly at Banco BAI and now with a considerable part of society using Multicaixa Express, many of us no longer carry cash.

I'm an example of that.

For more than 3 years I haven't had physical access (paper money) to 10% of my salary.

Currently: TV, internet, private taxi, stores, debts, loans, interest, commissions, are made based on virtual transactions, they are just numbers that we see on screens. In the same way that the Chinese created paper money, they are killing it, nowadays, in Shenzhen, China, you don't even need to face queues at the banks to have a bank account, smartphone+internet+app are the solution.

How do payments take place?

QR Codes are everywhere. For those who know about economics and finance, they know that printing more and more money is not the solution to solve the lack of money, it devalues ​​the currency even more, the costs are very high.

Apparently countries in crisis and in the process of development should strongly bet on electronic money and easier means of payment such as mobile money.

It is quite true that we have many countries in Africa with more than 50% of the population illiterate, but that even this illiterate population knows how to use any type of telephone and make calculations related to money. And with os mobile money it is no longer necessary to have a bank account and a smartphone to manage a payment portfolio. USSD, the famous *000# give us access to a system where we can have our money and make transfers that can be considered payment for some service and even payments for products and services available on the platform. We already do this with express transfers to pay for private taxis, for example.

Using digital/electronic money helps to preserve the environment (less paper, more trees, more oxygen), saves money to make more money and avoids our famous problem of “I don't have change at that time”.