Are We Headed for a Digital World?

By: Aiyanna Bailey

In this generation, it is very hard to find people, let alone businesses, that even carry cash. Now, instead of parents simply handing kids cash money to go out or pay for simple necessities, parents are resorting to giving kids debit cards or relying on apps such as Apple Pay when it comes to purchasing something. According to a poll, roughly four in ten Americans carry cash nowadays, and the majority of those people are 50 and older. 

Even at school, many kids no longer bring cash money to pay for food. Instead, they rely on money loaded into their school accounts. Furthermore, many kids don’t like the idea of money being passed around. Nearly half of students entering college in California say that one of the factors against holding on to money is germs. Even three years ago, when the Coronavirus was going around, carrying cash money put many people at risk for contracting the virus as it could be spread through physical objects. 

One of the other main concerns with the American dollar is that it gives power directly to the American government or bank system. It is because it is something that they print, design, and regulate. However, in the past years, digital technology has also invented many new specimens to replace the American dollar. One of these inventions is “cryptocurrency”. Cryptocurrency is a digital currency designed to work as a medium of exchange through a computer network. It is not reliant on any central authority, such as a government or bank, to uphold or maintain it. This means that the currency will ultimately run through a company or a device, rather than through a government, which many people have come to distrust. This makes it a better alternative to those who do not want their money regulated. Furthermore, this money can not be stolen. It is protected by a security called “blockchain” that is virtually unbreakable, unhackable, and is not controlled by any one group of people.

Other pluses to the digital revolution include an increase in communication between many countries over long distances and an increase in economy. For example, people who come to America on work Visas can now send and receive large amounts of money in a small amount of time and with little to no cost. Also, DNA identification can catch or fine public offenders; so soon, something as simple as getting a speeding ticket can be easy and painless. A new type of invention scans a person’s retina and can automatically take out portions of money from their savings accounts. Furthermore, digital media can promote a business online and reach large amounts of people on a global scale. 

Whether you believe the world will never evolve from the current centralized bank system, or you are a strong supporter of the digital revolution, the digital world is already upon us! One invention of the digital revolution could be sitting in your wallet, your home, or even in your hand. So, the time is now to start thinking about how this revolution will affect you, and whether or not you will promote this cause or be left behind as the world becomes more and more digitized.

Image Credit: Voytekpavlik