Technology advancements are skyrocking avery day as tech companies have invested billions of dollars in new and fast ways of digitalising almost all aspects cornering trade and it's financial transactions probably this is one of the modern achievements following the internet.
That means in time to come their will be no paper money transfers, loans requests will all be digitalised across the world.
Although most countries have already started digital financing , some are still adopting the technology not that they haven't started using it but it's already in use although not yet highly developed due to some few barriers.
Let's take a look on how the world is heading to digitalised finances through the help of this giant tech's technology.
1. providing and stabling fast internet.
This is a fast step to achieve the dreams of using digitalised finances almost all the transaction activities will be done over the internet you can request, order, pay and do everything on PC, android, iOS while sitted at home this requires a very good stable, affordable fast internet access of which most countries in the world have access to it, by 2050 all the world will be connected to stable internet because every country is investing in the sector.
2. Improving and implementing strong cyber security.
Cyber insecurity is a new and old disease affecting the internet as companies who deal in internet and communication technologies and money transactions technologies should develop a strong medium to track internet criminals who use malicious programs in the names of other companies who provide online money transfers to steal clients finances this properly will be biggest achievements in promoting and using digitalised money transfers, payments orders and other online businesses.
3. Building trust with the clients
Doing online transfers mostly for the first time scares new users therefor trust is an important aspect to achieve success in the sector, vaild and verified money handling companies should only operate with closed monitoring by international banking bodies and governments . When trust is built everything concerning digitalised money transfers will progress.
4. Reducing online money transfer taxes.
Taxes mostly makes everything morer expensive to promote and encourage digitalised business online taxes should be aleast low to discourage cash.
According to the current situation. Online business transfers, credit cards shopping, orders, delivery confirmations are done over the internet in a near future all the world will not be dealing in cash basis which is happening now in some parts of the world.
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