Banking and finance experts like Dan Schatt and others all agree that the concept of money is changing. Cash will be around for a while, but the growth of electronic transactions will continue to eat away at its value. Bottom line, money as we know it is changing.

Here are some ways you can expect the future of money to impact your daily life:

1) More Alternative Currencies (Like Bitcoin)

Alternative currencies are digital, decentralized, and global. This means they have the potential to bypass traditional banking systems and provide more opportunities for people who don’t have access to typical banking services.

2) More Mobile Transactions

Mobile transactions will continue to grow as more people adopt smartphones and other mobile devices. This will make it easier for people to conduct transactions anywhere at any time.

3) More Virtual Currency Transactions

Virtual currencies like Bitcoin are growing in popularity as more people become comfortable with conducting transactions without the use of traditional currency. This could lead to a more global economy where virtual currencies are used more frequently than traditional currencies.

4) More Credit and Debit Cards

Credit and debit cards will continue to be popular payment methods, especially as more merchants adopt card readers to process transactions quickly and easily.

5) More Online Shopping

Online shopping will continue to grow in popularity as more people become comfortable with the idea of buying what they need or want without leaving the comfort of their homes.

6) More Use of Personal Devices for Transactions

Personal devices like smartphones and tablets will be used more frequently for transactions as people become more comfortable using these devices for everyday activities.

7) More Use of Blockchain Technology

Blockchain technology is still in its early stages, but it has the potential to revolutionize the way we conduct transactions. It’s a secure, transparent, decentralized system that could eventually replace traditional banking systems.

8) More Peer-to-Peer Transactions

Peer-to-peer transactions will continue to grow in popularity as more people use social networks and messaging apps to conduct business.

9) More Mobile Applications for Retail Businesses

More retailers will provide their customers with mobile applications that give them easy access to all the features of a retailer’s website. The goal is to make it much easier for shoppers to purchase items from their smartphones or tablets when they want, where they want.

10) More Collaborative Consumption / Peer Sharing Platforms

Collaborative consumption platforms like Airbnb help people share what they have with others through technology. These platforms are expected to become much more popular in the future because collaborative consumption provides a great opportunity for people to save money while reducing their environmental impact.

11) More Use of Biometric Authentication

Biometric authentication is a technology that uses unique physical characteristics like fingerprints, irises, and facial features to authenticate users. It’s expected to become more popular in the future as more people adopt it for everyday transactions.

12) More Use of NFC Technology

Near Field Communication (NFC) technology is a short-range wireless communication technology that allows smartphones to exchange data quickly and easily. It’s expected to become more popular in the future as more people adopt it for everyday transactions.