Cash: Why the world needs it and how it continues to stay relevant

Imagine a world without a common value economic instrument. The complexity of trade and commerce or any other transaction around the world would have been unimaginable without a common value determination system. Money is an inevitable part of today’s economic system. Money in its various forms and values keeps changing with time but with the most critical of areas ranging from governance, commerce, development being dependent on it, money is what makes the world go around. While there are some who continue to debate on the ills of its accumulation, its significance is little to miss out.

 

The value of cash in today’s time

People across different walks of life are spending their time and energy to grow their worth in terms of wealth. Money has been constant such as time, it was an important constituent in shaping the history, it plays a major role in framing policies in the present and it will continue to influence decisions in the future.

Money keeps the world in check, while some people believe that money in the form of cash is close to extinction but even in these digital times, the world needs cash to maintain its equilibrium in the society. Cash has evolved into an unstoppable cycle changing ownership and form based on the nature of the transaction. While there are debates about the fate of cash, trends suggest the dependence of the cash remains undisputed.

 

The future of Cash

Cash is the most secure and trusted form of money. It caters to a major segment of the developing economies in the world while enabling certain segment of the society to store wealth. As per data the from Reserve Bank of Australia, cash continues to play an important role in the society. The current mix of banknote denominations continues to meet community demands for a secure means of payment. However, more and more stakeholders are adapting electronic payment methods.

Technology has allowed for the introduction of digital cash. Digital cash works on the principal of being a replacement to the traditional currency, it doesn’t need to be put into a bank and can be transferred without the intervention of the bank, quite like that of a physical note and coins eventually which will lead to less dependence on regular currency. Similarly, the debut of crypto currency across the world has astounded the masses and bolstered the belief on the evolution of money. The blockchain network devised for digital currencies allows the digital information to be distributed but not copied, creates an ideal environment for a peer to peer transaction that is safe. With this and other umpteen opportunities, the future of cash seems unpredictable but it is likely to remain an important feature in the payment system for the foreseeable future.

 

Safeguarding Cash and the need for Cash Management solutions

The world in its essence needs cash to keep moving and we at Gunnebo know very well that handling cash has several challenges namely shrinkage, reconciliation and reporting. Gunnebo is the most experienced provider of Cash Management solutions and provides products and services that give you security and visibility of cash in your business. We offer intelligent cash handling solutions which are designed to reduce your time spent on cash management, improve efficiencies in the cash cycle and make the whole cash handling process more secure.

Our total cash handling offerings include back office systems, cash recycling machines, simple cash deposit units, software, service and integration solutions to make the complete cash handling process safer, faster and cost effective.

Trust us to manage your cash for it stays completely secure while you can spend your time taking care of your customers and growing your business. Click Here to get in touch with our consultants today and we’ll tailor a solution to satisfy your needs.