Essay: “plastic cards, cryptocurrency and modernity”
Essentially, we have just recently begun to use plastic cards. They appeared in the U.S. around the 1910s, first in the form of a carton card, which was like a proof of a person’s ability to pay. Later, in the 1950s, they started to develop more actively and acquire a modern look. In just 50 years, plastic cards have absorbed the financial and banking sector, becoming our common way of payment.
In Russia, cards were introduced just in the days of the Soviet Union. In 1989 there was a newspaper with an interview with the chairman of the cooperative “Aktiv-S”, who talked about the issue of “plastic money”, that were plastic cards, together with the Savings Bank of the USSR. In the interview, the chairman explains what it is for, how to use them for an ordinary Soviet citizen and refers to orders for plastic cards.
It seems like it was quite recently, but already in the late 90’s and early 2000’s plastic cards were being used almost everywhere. And how funny is the evolution of payment methods and the use of money! We are moving faster and faster to the digital world: online payments, the constant use of plastic cards, purchases you can make from your phone online.
Technology does not stand still, and if 50 years ago people did not fully understand the essence of credit and debit cards, they used cash or chequebooks. The process of introduction of plastic cards was long enough for most people while banks and states actively promoted a policy of transition to credit cards.
Nowadays, cryptocurrency is a popular financial technological tool, but only in a narrow enthusiasts circle. Unfortunately, for the vast majority of people, cryptocurrency is still a complicated and modern system. Society is very sceptical about modern technology because it’s our human nature to be afraid of anything new for we don’t know what it is. There are countless cases in history when something new and important for the whole of humanity didn’t get the recognition it deserves in the beginning.
Just as plastic bank cards didn’t garner the demand that they have now so cryptocurrency remains in a grey area for society. It’ll likely be a few more years before cryptocurrency breaks out of their zone and gets the proper recognition. They can ease many areas of our lives, work and industries. New technologies have to prove themselves over time in order to gain a foothold in life and minds.
Nevertheless, while society is learning the basics of technologies, the Decimal team is creating a simple and straightforward service for users with different skill levels in finance and technology.
Recently, you can see a lot of news about states introducing rules and laws on cryptocurrencies. Also, they are trying to regulate turnover in the digital space and introduce taxes on cryptocurrency mining. Many state or large banks have started to study the cryptocurrency system and even issue their own coins. Counting on how fast technology and life spheres are evolving, it won’t be long before everyone appreciates cryptocurrencies.
