A moment came when coins became the money of the day, and eventually we had currency notes.
Money rules our world; we must spend it to get things done. And for that to happen, we have to move around with it.
Carrying heavy, inconvenient substances around doesn't really make sense. Imagine you want to buy goods worth millions and we are in the era of coins or cowries; how can you move around with that kind of money?
The currency note is one of the best forms of money so far, easy to convey, easy to count, and easy to keep a record of.
As time changes, things also change, sometimes for good and sometimes for evil.
The beautiful thing about this evolution is the fact that for each upgrade or transition, the substance is made lighter to convey and easier to transact with.
In our day, money is gradually becoming digital, especially now that we have a lot of reliable microfinance banks that offer swift and affordable transaction charges.
There was a time in my life when I spent almost a week without touching physical money. All my expenses were based on transfers using my mobile phone, and it was okay.
I didn't have to carry physical money about. I moved about and got things done low-key without anyone noticing, and it fits my personality perfectly.
If you ask me which is the best, whether digital currencies or physical currencies, I will say both.
The truth is each of them have their advantages and disadvantages. I use both as the occasion demands, and they always serve well.
If physical currencies were taken off today, it wouldn't be bad; we won't need to carry loads in the name of money.
With your debit card or smartphone, one can do anything they want to do. Things like misplacing money or losing it as a result of consistently using our pockets would be solved permanently.
But digital currencies come with their own downsides. Digital theft is not usually merciful. When your account falls into the wrong hands, just forget it; everything is at risk of going away.
With just a single wrong click, one can lose all their money; although it can sometimes be traced and tracked, the assurance of getting back your money is never guaranteed.
Things like sending excess money or wrong transfers are also very common. One wrong zero can place you in the position of sending too much or too little of what is actually required, and in the case where a refund is not available, that money is gone.
One wrong digit while imputing an account number or an improper cross-checking of a name can lead to a wrong transaction, and most times those issues don't get resolved.
I cannot advise the eradication of physical currencies and the adoption of digital currencies as the only acceptable currency.
The risk is too high, and apart from the ones I mentioned, our parents who are still stuck in the stone age, having zero to little knowledge about the digital world, would be placed at a huge disadvantage.
In my opinion, both physical and digital currencies should be in use. Whichever is more convenient for an individual and the situation at hand should be used.
N.b: All Images Were Generated By Gemini AI
