Home Back Issues March 2014 The future of money

The future of money

| Print |  Email
Articles - March 2014
Tuesday, February 25, 2014
Article Index
The future of money
Page 2
Page 3
Page 4
Page 5

img006 digitisedBY JAKE THOMAS

In the beginning, money as a medium of exchange revolved around grain, cattle and other necessities. Next came beads, cowry shells and shiny pieces of metal. Today government-issued paper and coins are the rule of thumb. Increasingly, the entire financial system is devolving into sequences of zeros and ones.

For centuries people have relied on an unspoken social contract that assigns a commonly understood value to a recognized set of objects. But if currency has always had a physical existence, its value is defined by the community and the marketplace and is therefore ephemeral. At some level, money has always been an abstraction.

In 2014 physical currency is less tangible than ever, with money’s bling increasingly likely to be found on computer screens. As cash turns into trash, technological innovations are streamlining banking practices and commerce for businesses and consumers.

But the changes under way go beyond transactional efficiencies. As the nation’s financial system comes under increasing scrutiny, currency innovations are being touted as a solution to social and economic problems, democratizing access to capital, helping nurture local businesses and giving a boost to those near the bottom of the economic totem pole.

Oregon Business explored some of the innovations taking place in various financial institutions, from banks cautiously exploring mobile payments to cutting edge digital-currency startups still searching for a market. One thing is clear; although the future of money may be fast, easy and literally immaterial, the goals of the evolving ecosystem remain decidedly old-fashioned:  to facilitate exchange, to allow people to move goods and services and, ideally, to boost work, productivity and income.



 

Comments   

 
Guest
0 #1 RE: The future of moneyGuest 2014-03-29 12:13:24
APSJEX.com - Your reliable partner in buying or selling Bitcoin.
Quote | Report to administrator
 

More Articles

Oversight? Or gaming the system?

News
Monday, July 14, 2014
AmazonBY VIVIAN MCINERNY | OB BLOGGER

Some people think Amazon’s winking eye logo is starting to look like a hoodwink.


Read more...

Tight and Loose

September 2014
Wednesday, August 27, 2014
BY JENNIFER MARGULIS

As schools implement more rigorous academic standards, holistic and flexible approaches to K-12 education flourish.


Read more...

A Taste of Heaven

September 2014
Tuesday, August 26, 2014
BY VIVIAN MCINERNY

Craft beer comes to Mount Angel.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

Video: The 100 Best Survey

News
Thursday, August 28, 2014

100-best-logo-2015 500pxw-1OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.


Read more...

Podcast: Interview with Pete Friedes

Contributed Blogs
Wednesday, August 27, 2014

082714-thumb friedesbookTom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS