The Advantages of Money Cards Over Currency

For thousands of years, currency has served people well.  The feel of silver or gold coins in the hand made people smile while a stack of currency made people feel rich.  But there have always been problems.  People like to take other people’s money.  People kill others for their money.  Also, people lose money and often it wears out if it is made from paper.  In the future, money cards should replace currency for many reasons.

Cards would be anonymous.  Most cards would look alike.  You wouldn’t know if one had a programmed value of $10 or $10 billion.  There is also the security of ID recognition.  You couldn’t use another person’s card which means theft could become a thing of the past.  Your identification has to match the programmed identification of the bearer of the card you are using.  

When a person buys something, he would use his card in the same way he uses a credit or debit card today.  The money would be transferred out of the card and to the merchant’s computer.  When a person is paid, the banks may issue balance transfer devices that will let the amount deposited into an account to be programmed into the card.  If there were any transfers out of the account like automatic bills, the bank would do that with the devices.  If you want to check how much money you have programmed into a card, you could see it on the monetary value monitor.  

Many people will carry a monetary transfer device with them to transfer amounts into other people’s cards or out of them.  If the person having to transfer money out of his card is being forced to do it, he could hit a special code on his transfer device before the money is transferred.  The person receiving the money will read that he has the money in his card.  But when he tries to use his card, it will not allow him to make a transfer unless he goes to a bank to have them adjust the card.  The bank will know immediately if money was transferred illegally.  The person whose card had money taken out of it will also be blocked from making a transfer until he has gone to a bank to have his card adjusted.  If he explains that someone tried to take money from him, a transfer coding system will be used to identify the person involved.  The same will go for the person who was wronged.  That way the money will be restored to the rightful person.