As you know, money is just a unified, symbolic product that determines the degree of trust of society and the state in them. However, with the development of computers and the Internet, the degree of trust has received a qualitatively new level - intangible.
Money from nothing
For the first time, non-cash money was invented and introduced into the everyday life of human society around the thirteenth century. Money changers and usurers who maintained money exchange shops began to issue receipts instead of cash. Since then, the word bill of exchange has come into use, in essence it is a document, a power of attorney to receive a certain amount in local currency upon arrival of the traveler at the destination and contacting a trusted money changer. Subsequently, the system developed more and more, and banking systems introduced new concepts, personal checks and bearer checks. A personal check was issued only for one person, another person, even if the document was stolen, could not receive cash on it. In the case of bearer checks, these were practically banknotes of indefinite denomination, on one check any amount could be written out to receive. In the event that the bank balance was overflowed with check receipts, and there was a shortage of cash, interbank transactions were carried out with a bank that had excess cash.
In this case, there was a physical movement of cash from bank to bank.
On a razor blade
With the industrial revolution taking place in recent years, with the use of the latest high technologies and with the computerization of mankind, banking systems have introduced a new form of monetary settlement into use. Electronic money, plastic debit and credit cards made it possible to manage your own capital with maximum speed and comfort and make any remote payments and purchases. In this sense, the Internet was a huge boon, money was completely depersonalized and practically lost its physical structure.
At the moment, the world supply of cash, printed by issuing banks of various countries, is only about 10% of all world reserves of money.
After all the huge advantages, you can also consider the small disadvantages of non-cash money. Fraudulent programmers and thieves, nobly calling themselves hackers, regularly steal electronic money from bank accounts and from plastic cards. The level of theft has reached gigantic proportions, with annual losses of over $ 12 billion. The entire world Internet is regulated and maintained on six strategic servers located in the United States. If a failure occurs, humanity will face financial chaos and complete collapse.
