Money in Technology

In Chapter 3 of Who Owns the Future, the author discusses money in relation to advances in technology. I think that it is really interesting to analyze this concept over time. If you look as recent as the last couple decades, we have moved off of a money backed system, the gold standard, and are now utilizing no standard to hold the value of our money. Also, think about the revelations in banking technology over the last several years. Most major banks allow you to complete almost every transaction via the web, app, or ATM. The necessity over making your way to a bank is almost gone. Debit cards and credit cards have even advanced with contactless capable technology. Going forward, several economics have discussed the realistic possibility of using NFC technology or biometrics to facilitate the transfer of funds, eliminating the necessity for paper money all together. Governments argue that this could keep better track of financial transactions.