Text: Sarah Nitschke
THE HISTORY OF MONEY: A FUTURE WITHOUT CASH? The article was first published on the blog of HypoVereinsbank
Bills and coins have been our constant companions for centuries but they are increasingly substituted by cashless alternatives. Yet we find it hard to imagine a truly cashless future.
Money in its paper bill form is widely accepted today despite the fact that it is really only a symbol which we have afforded the meaning and function of money. In Europe, this agreement has been accepted since the 17th century. But why do we continue to pass paper bills across checkout counters when bits and bytes can do the job in an equally convenient and secure manner? Couldn’t we trade the »paper« symbol for a different, more contemporary one? To the advocates of a cashless society paper-based money is nothing but an anachronism. Even back in 1990 only 5% of all monetary transactions in Germany were done in cash. But in their daily lives, i.e. at the supermarket or a restaurant, SISTER-MAG.COM
312
