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What Will Be The Future of Money?

This Thursday I went to the third Business Intelligence workshop with the founder of MVP studio, Ray Lu and CTO of MVP, Justin Pham.

The workshop ran from 730am-930am to help busy executives, consultants, and owners with BI insight to return to their businesses better-informed, it is hosted by Lowndes at Stamford Hotel, Auckland.

This workshop highlighted as our economies become more sophisticated, E-payment and new technology continue to drive the way we use our money.

Fast evolving of the payments landscape

The Swedish government is now expected to pass a law making it mandatory for all banks to handle cash.

To the surprise of many, assuming Sweden would lead the way to a cashless future

UK Treasury committed to protecting the future circulation of cash

Murupara gets its cashback after last ATM was stolen

Facebook announced Libra cryptocurrency

Domino’s Pizza(Australia) to trial cashless “Tap-And-Take-Only” stores

Why is reserve bank of New Zealand talking future of cash?

Cash is a network where benefits multiply as more people use

Cash could be rapidly become harder to use

no intention to develop a digital currency as cash circulation gradually increase in NZ over the last 20 years

The bottom line: cash is still a KING, at least for last 20 years.

The changing nature of currency and the emergence of digital and cryptographic currencies such as Bitcoin

Force us to ask a fundamental question, what is money and what is its value?

The traditional banks are server-based and centralized driven

Peer to Peer networks decentralized network and community-driven

The smart contract of blockchain can be deployed with self-executable code and it is immutable(it means in a safe hand, the network can not be altered once stored in a decentralized network).

The likely evolution of retail banks to meet the modern needs of business and society

Payment is already digital

Open bank: You own the data

Banking is essentially relationship-based

Blockchain, Ai and Open data mean Lygon, PwC Cashflow coach help businesses to have business insight on the go.

The rise of payment powerhouses such as Apple Pay, AliPay, WeChat Pay and how they shape our way of life.

if you want to fast-track into a high-income skill via an alternative education provider Industry Connect.  You can reach out to me to talk about high-income skills, Business Intelligence journey and life design in New Zealand/Australia.

Feel free to connect with me through Linkedin and see if I can answer your question.

I will appreciate if you can comment, like or share this article if you find it’s helpful to you.

Michael Wang
Michael Wang

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