Future Of Money - By K Gopalakrishnan | 26th june 2015, 10:00 am

PREDICTED IN 2015. PREDICTION HAS HIT BULLS EYE IN 2020

Many people ask me what is my future. Let me twist and ask what is the future of money. The discovery of gold trading lead to major changes in the business transaction of life. The credit and e-payment is going to change forever the way we use our money

Following are the predictions.

1.   All major apps like facebook, twitter and LinkedIn will bring payment gateway
2.   All major cellular makers like apple, black berry and Samsung will bring payment options
3.  All the net work operators like airtel, vodaphone will bring payment options
4.  All the banks will bring payment options in multiple ways
5.   No physical cash will be involved in most of your banking payment transaction.
6.   You will able to receive and get money as numbers alone without transacting in physical cash.
7.  The role of central bank in terms of money control will be very limited. Money will flow faster and faster at the rate of e bytes.
8.   Interest rate insulation from global rate will be slowly lost The world will breathe as one economy. It will be like playing symphony or orchestra. As such this will lead to centralized banking for world from Europe, America, Africa or Asia.
9.  Interest rate will adjust to global demand than the local one. Money will be mobile fluid, fast and sharp. This will hurt many economies which are in the old ways of banking.
10.   you will not have cash receipts and long queues etc. Many places ATMs will also disappear slowly.Many Indian banks will merge close and alter the shape and size in the coming years.

International Banking System

The world will breathe as one economy. It will be like playing symphony or orchestra. As such this will lead to centralized banking for world from Europe, America, Africa or Asia.

The world will begin to open for global currency than the dollars. Slowly they will bring in one Asian currency, one European currency which will eventually lead to one currency.

Global stock and commodity exchange will be there. Gold, silver and metals will react globally than the local one. Movement of money will be very fast that governments in the world will find it difficult to track.

Money is moving from one country to another in terms of years.Slowly it move from months, weeks, days and even to extent of seconds Huge money movement will be very easy.

Taxes for e-purchases will be common. Brick and mortar shops will disappear slowly as more innovative ways of purchase will appear in e-markets. Physical money will die slowly.

Rules of e money will be different from that of physical money. The government has to formulate new rules to regulate e-money. We still follow old systems rules whereas the flow of money has changed.Tax audit for e-money will be different. Higher markets will influence lower market