5 Ways Technology Has Changed Our Concept Of Money

5 Ways Technology Has Changed Our Concept Of Money

No matter a person’s geographical location, money is an ever-changing concept.  Money signals worth, affluence, power, and in most cases, opportunity.  Though the foundational purpose of money generally remains intact, the way in which we use, label, and identify money has drastically changed throughout the years.

Technology has been one of most influential catalysts of change in the world of finance.  Check out a brief summary of a few of the most interesting ways in which technology has changed our concept of money.

5 Ways Technology Has Changed Our Concept Of Money

Credit cards

Credit cards have revolutionized the world of finance. The invention of plastic opened up a sort of pandora’s box of money. Technology has forwarded the movement of credit cards to the point that some of us no longer even have to swipe to pay for things. When applying for a credit card, you may also want to consider your credit score first – check out this credit sesame review if you’re looking for free credit scoring and credit reporting.

With the advancement of technology, also came the advancement of thieves.  Identity theft found a whole new playground when credit cards became a widespread and acceptable use of money.  With power comes great responsibility, and we should all take the gift of a credit card seriously.

Alternative tender

The most recent and most interesting advancement in the world of money is alternative tender.  Websites design their own form of currency that is eventually transferable to legal tender.  The most popular form of online currency is Bitcoin.

Bitcoin is the first form of cryptocurrency.  It provides a digital way to transfer money without leaving an identifiable trail.  Research more about Bitcoin to join a very interesting community of people.

Money transfer

Money transfer no longer requires a bank or a Western Union location to complete.  The internet has given birth to several successful financial companies that play host to millions of transactions per year.

Sites like PayPal and Square are well-known platforms for money transfers in all occasions.  Small businesses have gained a valuable tool through the evolution of the way in which we transfer money.

Electronic benefits

Now that money is hardly ever a piece of printed paper; there are hundreds of ways for people to earn electronic benefits that are as good as gold.  Many mobile apps have reward programs, credit card agencies offer tech rewards, and even PayPal pays members for spending money.

Every grocery store has its own rewards program where customers earn digital credits to save money on their purchases.  Electronic benefits are everywhere, and many of them are totally worth partaking.

How we earn money

 Twenty years ago, there was no such thing as a remote position.  The internet has completely changed the way in which we earn money.  Freelance writers, mobile app testers, and many many more positions became available naturally through the evolution of the digital world.