The Virtual Evolution of Money

April 18, 2016

Cash currency, also known as the paper bills and metal coins found in one’s pocket or purse, has a life cycle that begins at the moment of its creation. Each unit of currency has a lifespan of its own, ranging from six years for a dollar bill, all the way up to 50-plus years for a quarter, nickel, penny, or dime. It’s not uncommon to find coinage stamped with the year 1965.

The advent of the Internet and creation of the secure socket layer (SSL) has revolutionized how money changes hands. It’s still possible for a dollar bill to travel hundreds of miles throughout its lifespan as it moves from user to user, but many people prefer to send money via the Internet. With electronic funds transferring, money almost becomes an abstract concept instead of a physical construct. Learning how to manage money on a computer screen is easy and intuitive. It also takes no effort to learn how to send money online to a chosen recipient.

Money is the lifeblood of the economy. It transfers from businesses to individuals and back again as goods and services are purchased. Learn more about how your money moves with this infographic.