The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Spending Habits Of The Future
Paying for your purchases used to be to the most straightforward task around, you’d exchange your coins with the cashier and in return you’d receive your goods. Simple. But today, a modest transaction can involve some serious tech. Gone are the days of carrying around your cheque book.
Whilst everything in the world seems to be making a switch to digital, money is no exception. Gone are the days of signing signatures, punching in pins and certainly, counting coins, but the advancements show no sign of stopping. Mobile payments have been helping to reduce poverty in some parts of the world while cryptocurrency is still largely misunderstood, being viewed with both support and scepticism around the globe.
In this piece we give you an explanation of all the new terms, including blockchain, mining and signature. We also look at the pros and cons of a cashless society. As contactless currently seems to offer the most convenient method of payment – it begs the question of what could possibly come next. This infographic dives into the habits of spending.