New Money
- CHAPTER 9 -
New Money
New ideas and technologies are creating

...new payments systems and new forms of currencies that will completely change the way we make financial transactions,
And as more people choose (or are forced) to use these new currencies, paper bills and coins may become a thing of the past.
Possible Benefits
Concerns & Fears
"I describe Bitcoin as "a digital version of gold, egold."
Arif Nadeem
CEO, Pakistan Agricultural Coalition
The young generations have quickly adopted to the new payment methods, and many of them do not know the feeling of holding a real banknote in their hands
SOULAIMA GOURANI
Sale Strategist
In an age defined by technological advance....It feels downright primitive that most of us still walk about with coins jangling in our pockets,
Patrick Jenkins
Deputy Editor of Financial Times
Types of New Money
History
1946
1946
  • John C. Biggins, a banker introduces the Charg-It Card a new credit payment concept. It was available to Brooklyn neighborhood.
    1950
    1950
    • Frank McNamara introduce the Diners Club charge card. The first universal credit card, which could be used at a variety of establishments.
      June 27,1967
      June 27,1967
      1989
      1989
      David Chaum launches DigiCash the first cryptocurrency.
      1995
      1995
      • Amazon, is launches and becomes on of the first websites offering online payments.
      2011
      2011
      Company "Tencent" release the "Weixin", a multi-purpose messaging, social media and mobile payment app. Later renamed "WeChat" becomes the world's largest payment app.
      2018
      2018
      Amazon opens 'Amazon Go" in Seattle, WAthe first cashless store in United Stares.
      2019
      2019
      Philadelphia become first city to ban cashless store
      January 3, 2009
      January 3, 2009
      The Bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of bitcoin