Advanced technology has undergone significant change in the financial system. The process of change in the Financial Field has changed the definition of paper money at most and has changed dramatically towards the digitisation of money.
The change and innovation that is taking place has increased productivity and facilitated our lives in the business process worldwide. The loss of cash in the digitisation cycle and the introduction of a payment system with an electronic base has created a change in both the mission of money and the habits of users.
During the financial revision process, paper money started to be used digitally on the internet and payments were made through plastic cards. Accordingly, Bitcoin and other digital coins have been widely used over time. As an infrastructure, Blockchain system has been entered into a technological innovation-dependent formation such as the formation of advanced virtual central banks.
Transition To Digital Currency In The Near Future
Digital money, which is one of the biggest steps in the name of digitalization, has attracted attention with advantages such as not having a certain Center and being able to make instant payments, and has started to be used widely. It is defined as money protected by certain mathematical algorithms and encrypted methods. Block chain infrastructure is also a fast and reliable investment vehicle. The reason for this is that digital money is reliable because its production is limited.
The transition to digital money, its advantages and why it is in the top today, can be listed as follows.
- Since digital money is not the central authority, it helps you to protect and improve your business without the need for any bank account or card, and therefore no one can control your digital money because it is not connected to any central bank, so the economy of your country is not affected.
- Digital money can be transferred directly from one network to another, depending on the networks, so the difference from other transfer systems does not require fees or commissions.
- Digital currency payment methods such as credit cards and wire transfers do not accept low figures and do not place limits on the amount of money
- Since digital money is digitally sourced, the process of storing and transporting it on the internet and mobile is quite simple.
- The most well-known payment system is the EFT, which is closed to money transfer at times outside of working hours. Digital money is free to transfer money at any time without a time limit.
Advancing Covid-19 Virüs And Monetary New Preference Cryptopara
Paper money and metal money in hand-to-hand circulation used by the world today negatively affect human health, and therefore, hygienic terms on the virus and many microbes that threaten human health are harboring. As a result, digital money finding can be used instead of paper money and metal money is the most revolutionary innovation in the field of financial and health that has attracted worldwide attention. The covid-19 virus, which has rocked the world and continues to spread in a short time, is supported by financial experts in the same way that physical money, which continues to be used, will now be replaced by digital money entirely.
Likewise, according to the WHO statement, the proposal for the system to become operational based on the “necessity of contactless payments” suggests that cryptocurrencies, especially Bitcoin, will be used entirely by digital currencies in many countries of the world.
