“Digital model” .. The latest development in the life of money

“The virtual currencies are the natural digital evolution of money, and this development must be treated as a real fact, despite the concerns about dealing with these currencies,” said Reda Mosallam, partner manager of Truth Economic Consultancy. He said: “Cash transactions have gone through historical stages that have evolved from gold and metals to the current conventional currency. Hence, the closest evolution to reality now with the transition to digital technologies is those virtual currencies.”

He added: “The life of money has gone through several stages in which it has evolved. from barter to commodity money to the use of gold and silver from the rest of the metals, and the emergence of so-called coins. human have reached the development of paper currencies, Which began to develop through the arrival of programming language to them, and from here was the emergence of these currencies”.

He reported: “It is not unlikely that these currencies will replace the conventional currencies in the coming periods, although not yet commercial use of it on an expanded scale,” pointing out that “the characteristics of some of these currencies, relying on reliable techniques Such as the Block chain, as well as reducing fees paid by ordinary currency holders during cash transfers.”

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