Technological sophistication and advances certainly have an impact on the economy. The emergence of electronic money as a legal means of payment in the real sector must also have an impact, both positive and negative. On the previous article we have talked three effect of technology development on money, here are the other effect based on The Balance.
Easier Financial Transactions Financial
Transaction services are made easier with the existence of e-money and electronic wallet applications as they are today.
Financial transactions such as shopping at minimarkets, paying tolls, and paying for parking are getting faster and easier to do. This has also changed due to the influence of technological developments.
Digital Currency Is More Valuable and Real
Digital currency or cryptocurrency has become increasingly recognized by the public since the success of Bitcoin.
Not only used as financial transactions, young people use this digital currency to invest.
However, not all parties legalize transactions using this currency.
Will digital currency replace cash in the future? I don’t know, let time tell it.
The 5 case examples above are some of the financial conveniences currently felt by the millennial generation.
With the ease of transactions, millennials should be much better at managing their finances.
One of them is preparing for the financial future by investing.
As stated above, investment transactions are easier to do with the application and all are online.
Read also: The Effect of Technology Development on Money (Part 1)
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