The death of cash – simply an urban myth?

As innovative payment technologies hit the market, like the PayPal ‘check in’ service that launched in London this month, it seems that coins and notes are becoming less important. As countries like Sweden appeal for a ‘cashless society’ and physical cash continues to cost economies vast amounts annually, one needs to ask if cash really will die out in the near future, or if this is simply an urban myth.
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The importance of what’s on the banknotes

As mentioned, I’m now becoming a collector of weird and wacky bank notes, as well as those that are hugely historical or politically interesting.

This is particularly worthwhile as cash is disappearing fast so these notes won’t be around for long (I jest, of course).

Actually, bank notes are interesting, as blogged about yesterday with regard to Zimbabwe’s notes.
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Virtual Currency

Currency is broadly defined as anything that can be used as a medium of exchange to buy or sell goods and services. This need not necessarily be a physical object. In the barter system, which was a precursor to the system of money, goods and services were simply “traded” without any specific medium of Exchange.

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