How is a world with zero money?

Without money, payments happen electronically. Instead of using paper and coins to exchange values, you authorize the transfer of funds to another person or company. Logistics is still under development, but we have some tips on how a cashless society can evolve.

Credit cards and debit cards are among the most popular cash alternatives in use today. But cards alone are not enough. Mobile devices are likely to become a primary payment tool.



Electronic payment applications, such as Zelle, PayPal and Venmo, are useful for P2P payments. Mobile payment services and mobile wallets, such as Apple Pay, provide secure, cashless payments. In developing and developed countries that use money sparingly, mobile devices are the most common tools for payments.

Cryptocurrencies are also part of the discussion: they are already used for money transfers and introduce competition and innovation that can help keep costs low. But they currently have regulatory risks and obstacles that make them impractical for most consumers, so they may not be ready for widespread use.

About Steve Hoffman

Steve Hoffman is a chairman of Newt that focuses on using new methods for money transfers. His passion is to assist emerging businesses for growth opportunities, corporate preparation, and performance in an advisory consultancy role.

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