Virtual Money. Digital Financial Transactions. Who’s Getting Left Behind? | Arjun Rai :) Official Blog

Virtual Money. Digital Financial Transactions. Who’s Getting Left Behind?

Future of Money and DonationsCommerce and trade existed in some form or another since the earliest days of mankind. From bartering of goods for other goods to the exchange of paper money and coins, man has come a long way in creating a stable form of system to allow such exchanges to occur. But what is next? Who is getting left behind? I still carry a few dollar notes and coins today (nothing more than $20 or so) because several places around New York won’t take credit or debit cards when your total is below $10 (or $8 in some places).

But merchants aren’t the only people who can’t take payment or money via cards. How do you give money to a homeless person on the street? I still carry coins and bills for this. Wouldn’t it be incredible if donations in the future were also made entirely electronically? I think so…In the event someone did decide to donate to a homeless person electronically, security would be one of the most important elements. If we tackle that issue, how do we handle the issue of technology in that case? Do we give away free square devices with wireless connectivity so that people walking by could swipe their credit cards and choose exactly how much to donate? Interesting thought, right? Wouldn’t that be a step forward in modernizing the way people ask and receive donations from others.

For almost everything else, my handy-dandy plastic visa card is the way to go for now but do think about how we are evolving as a society. Who is getting left behind? How do we help everyone “modernize” with the times? :)

About Arjun Rai

Entrepreneur (CEO and Founder at Showhost. Student. Follow me on twitter @arjunraime. You are awesome! :)

31. July 2013 by Arjun Rai
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