All Apple news

Tim cook: the next generation of children will not know what is cash

Apple CEO Tim cook is convinced that the next generation of children will not know what is cash money. To replace the cache will come electronic counterparts, he said at a meeting with students of Trinity College in Dublin.

According to cook, the death of cash will happen sooner than expected. “Your children will not know what money is,” said the CEO, talking about the payment system Apple Pay. According to him, in the foreseeable future wallets will disappear from everyday life.

The use of electronic money has occupied a lucrative niche and is gaining momentum. Values have changed, and now most people committed to a specific project or to the acquisition of certain goods or services than simple hoarding of the money supply. Cash on the backburner, performing an auxiliary function.

Replacing the usual money on something else – not the first case in the history of Finance. We know from history that some rulers, not having to use paper or metal means of payment, used unusual objects of value, as the standard exchange of: animal skins, precious stones, jewelry, etc. Realizing the inconvenience of calculating such “money”, after some time they began to use the usual time for our means of payment. But all goes to the fact that electronic and non-cash money will soon supplant conventional paper-metal methods of payment.

Tim cook is not accidentally raised the issue of electronic payment systems. As it became known to newspaper the Wall Street Journal, Apple is developing a payment service that will allow users to transfer money to each other using mobile devices. The need to transfer cash will disappear.

Read also:   A patent Troll is going to ban sales of iPhones due to patent infringement on cards and upgrades "over the air"

Although Apple’s CEO, and said in Ireland that the company is not going to turn into the Bank, however, pays great attention to the expansion of Apple Pay service. Service P2P payments, apparently, will become an integral part of Apple Pay.

Leave a Reply

Your email address will not be published. Required fields are marked *