Publisher's Opinion-

August 2017 Edition
The Disappearing Currency

This issue marks the 27th year we have published Northern Illinois Real Estate. As I look back, I remember as a young man shaking my head as older people would talk about the past and how much things have changed. Here I am joining the realm of the old fogey.
From telephones to cell phones, large computers to thin laptops and...and back to the cell phone. Cell phones do more computing than the large computers from 27 years ago. I believe they are the greatest change we have seen in the past two decades.
Besides the cell phone and its ability to compute, the next biggest change I see is the disappearing currency. Currency has been disappearing from my wallet since I became a working man, but I am referring to the actual vanishing of hard cash.
Consider how we buy things. Want a cup of coffee, we used to pull out our wallets and pay cash. Keeping track of expenses meant getting a paper receipt. Credit cards charged a fee and were discouraged on smaller purchases.
Now with potential for employee dishonesty, counterfeiting, cost of armored cars services, running to the bank with a bag of cash, monitoring enough change on hand, and other expenses, credit cards have become a welcomed payment method. Now you wave your cell phone, your watch, use a finger print, or pay with a debit or credit card. Companies are more apt to accept and even encourage the use of these digital transactions. Cash may become obsolete one day soon.
We know retail stores have their challenges competing with Internet stores. Buying on the Internet is based 100 percent on digital money whether credit card, debit card, or 3rd party payment systems like Paypal or other cybercurrencies. There are over 175 different cybercurrencies on the Internet with Bitcoin being the most popular.
Even customers are preferring the use of digital payment because it maintains digital records. One look on the Internet and you can determine what you spent your money on and maybe even ways to cut your spending.
We are now working on our September Financial Directory. This directory will feature four directories: Commercial, Residential, SBA, and Specialist. We will see you then.
by Roger Krieg
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