Friday, 10 April, 2020


How Technology Has Completely Changed the Way We Spend Money

How Technology Has Completely Changed the Way We Spend Money How Technology Has Completely Changed the Way We Spend Money
Conrad Doyle | 14 February, 2018, 23:34

Over the last decade, there has been an astonishing number of technology developments and innovations. From the smartphone to the invention of the self-driving car, our lives are now filled with technological developments that we would never have thought of.

And while all of these gadgets and gizmos have changed our lives in some way, specifically, they have changed the way in which we spend our money. Spending your hard-earned cash is no longer a case of physically handing over a note or a coin and so much of what we do is digital.

The Rise of Mobile Payments

Over the last few years, all of the major mobile innovators have stepped into the mobile payment game. Apple has launched Apple Pay for its own iOS devices, Android platform holder Google has launched Android Pay, and Samsung has launched Samsung Pay.

Each of them promises to make spending your digital funds a simple and secure process. These payment services use NFC (near field communication) technology and allow you to pay for your goods just by holding your smartphone or smartwatch next to a card reader. You can have a list of stored cards and the payment service will allow you to pay for your goods using any of them.

It can be more efficient to pay for your goods this way than to carry around a huge wallet full of plastic. It's also seen as a much safer alternative to carrying around huge wads of cash; it would be easy for a thief to steal that money but getting access to your Apple/Google/Samsung pay wallet is much harder when you have a passcode and a fingerprint sensor on your smart device.

These benefits are why mobile payment services are becoming so popular and why so many regions and retailers have been quick to adopt them. As of 2016, Apple Pay had 12 million monthly users, a figure which is sure to rise substantially in the coming months and years.

Can Bitcoin Replace Traditional Currency?

Technology has even given rise to brand new forms of currency, such as Bitcoin. Bitcoin is a cryptocurrency which is a digital currency that is independent of central banks and uses the principles of encryption. Cryptocurrencies like Bitcoin are created by computers and do not exist in the physical space, like a dollar or a cent.

 

There are several benefits to Bitcoin including the fact that is not controlled by a single institution. Moreover, there is a limited supply of Bitcoin and the price and value of Bitcoins is controlled by the demand.

Additionally, Bitcoin users appreciate the fact that it allows them to be pseudo anonymous, meaning that users can send money to one another without sharing their identity. This is particularly useful for those who want to gamble and play in online casinos. It adds another layer of anonymity to their gaming, allowing players to have more security when they play casino games such as blackjack and roulette.

It is also worth noting that many online casinos offer bonuses for players who choose to gamble with Bitcoin and other crypto-currencies. This is a welcome benefit that just sweetens the pot.

There is a growing interest in mobile payments and in new forms of currency such as Bitcoin. Some financial analysts have even suggested that digital payments could make physical money obsolete. Will that happen in the next few years or even the next decade? It's hard to say, but it's certainly clear that the world is headed in that direction.

Recommended

loading...
...

GBI launches investigation into allegation of attempted election hack GBI launches investigation into allegation of attempted election hack Oprah, while leaning against exercise equipment in her Instagram video, said "we know what to do about that - vote tomorrow". The all-caps headline says: "AFTER FAILED HACKING ATTEMPT, SOS LAUNCHES INVESTIGATION INTO GEORGIA DEMOCRATIC PARTY".

How Trump plans to spend Election Day How Trump plans to spend Election Day If Democrats win enough House seats to reclaim the majority, Trump would face a shift in the balance of power in Washington . Mr Trump's Republican coalition is increasingly becoming older, whiter, more male and less likely to have a college degree.

Apple cancels iPhone XR production boost due to low demand Apple cancels iPhone XR production boost due to low demand Before we dive into this, I want to recommend caution where Apple and iPhones are concerned. Indeed, it was widely hailed as the unexpected hit of Apple's 2018 iPhone event.

Speculation mounts that Meghan Markle's mum will move to UK Speculation mounts that Meghan Markle's mum will move to UK Meghan and her mother have remained notably close , while Megan's relationship with her father, Thomas Markle, remains strained . Doria Ragland got to know the royals, including Prince Charles and Camilla, at Meghan and Harry's wedding in May.

Rebel Wilson 'Deeply Sorry' for Plus-Size Self-Promotion Others went a step further, and said Wilson's comments amounted to another example of black erasure in popular culture. Rebel Wilson , you have some explaining to do. "They will always value their representation more while erasing ours".

The NFL Is Bringing Football to Fortnite The NFL Is Bringing Football to Fortnite Starting November 9 at 7PM ET you'll be able to purchase National Football League themed Outfits from the Fortnite Item Shop. At the time of this writing, it's unclear if the event brought any other changes to the battle royale map.

Trump, Obama tout clashing visions of USA as midterm elections near Trump, Obama tout clashing visions of USA  as midterm elections near What it would mean: This would be a clear repudiation of Trump, and there would be no other way to spin it. The party holding the White House has lost seats in the House in all but two elections in modern history.

Brexit fraying UK-Irish relations, Varadkar warns Brexit fraying UK-Irish relations, Varadkar warns Mrs May is expected to brief the Cabinet on progress in talks when members gather for their weekly meeting at 10 Downing Street on Tuesday.

Samsung Said to Reveal Some Features of Foldable Phone This Week Samsung Said to Reveal Some Features of Foldable Phone This Week A start-up from China, called Royole, has become the first company to bring a commercial foldable smartphone to market. Apparently, Samsung has told a few Korean media outlets that it will unveil the phone's UX at the event.

Valverde: Barcelona aren't going to take any chances with Messi Valverde: Barcelona aren't going to take any chances with Messi He was initially ruled out for three weeks but returned to training after 10 days and is in contention to play against Inter. We know we have to improve, but the important thing is the goal difference.

Ahead of Diwali, Delhi's Air Quality continues to alarm citizens Ahead of Diwali, Delhi's Air Quality continues to alarm citizens The permissible limit for PM2.5 and PM10 is 60 and 80 units by national standards and 25 and 50 units by global standards. An Indian man with his face covered walks amid heavy smog along a street in New Delhi , Nov. 5, 2018.

England: Owen Farrell cleared to tackle All Blacks England: Owen Farrell cleared to tackle All Blacks Once you've got that, then you've got an opportunity to put yourself in the position where you think about winning the game". We are asking one referee to do it the way they did it when blokes like me were playing, jogging around.

Pochettino dismisses Neville's 'spineless' comments after win at Wolves Pochettino dismisses Neville's 'spineless' comments after win at Wolves We were able to have a go and change and we knew one goal could change the dynamic and that is the heart of the team. Maybe we would have deserved a draw".

Fox News, NBC and Facebook pull Trump ad widely condemned as racist Facebook, too, announced Monday that the ad could not be a paid ad on the site, though users can still post it themselves. Trump's reelection campaign didn't immediately respond to an email seeking comment.

Alvaro Morata: 'I was wrong to play with pain' Alvaro Morata: 'I was wrong to play with pain' Chelsea striker Alvaro Morata admits he made a mistake trying to play through a back injury he feels has hampered his form at Stamford Bridge .