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Does that mean the Bank is expecting physical money to die out?
From 2003 and 2008, about $19 billion in physical money was handed out to Iraqi suppliers and contractors.
Unfortunately, cellular-based systems are unsuitable as a complete replacement for physical money, particularly in the developing world.
Sweden, where about 2percentt of value of transactions are done in cash, may eliminate physical money within five years.
One simple idea is that parting with physical money is a more concrete action than inserting a card in a machine.
Regardless of whether it can solve major debt crises, there is an appeal to smaller, homespun, physical money, starting with the greater privacy it affords.
Similar(25)
It can eat its children and move on.In the physical world, money and brand are two ways in which big companies can compensate for such constraints.
More than eight decades ago, Virginia Woolf said that for a woman to write, she needs a room of her own, her symbol for physical space, money and freedom from interruption.
Juniper Research is releasing a new study today that reports that the transaction value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670 billion by 2015, up from $240 billion this year.
A few weeks ago, Juniper estimated that the transaction value of mobile payments for digital and physical goods, money transfers and NFC transactions will reach a whopping $670 billion by 2015, up from $240 billion this year.
"In the physical world money means everything.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com