How Has Technology Affected The Way We Use Money Today?

September 11, 2023
David Sunnyside

Generally, people use technology to improve their lives, make tasks easier or faster and enhance their entertainment experience. Technology is also a powerful tool for businesses. For instance, business software allows companies to run operations without having to rent offices or hire a large number of employees. It also makes it easy for small business owners to connect with potential clients and manage their finances remotely.

How has technology affected the way we use money today?

Among many things, new technologies enable us to transfer funds within a day or even instantaneously. This is made possible by fintech solutions like robo-advisors, payment apps, peer-to-peer (P2P) lending and investment apps. This industry has grown exponentially in the last decade and its influence has increased significantly.

Another notable change is the availability of various investment assets. A few decades ago, investing was only accessible to the upper class, but now countless online platforms allow average investors to invest in numerous asset classes. Moreover, cryptocurrencies like Bitcoin have opened up an entirely new asset class for everyone.

Other forms of technology have changed how we enjoy our personal and family time. For example, modern TVs have far more definition than standard definition TVs. In addition, devices like TV listening devices help seniors with hearing loss watch their favorite shows and movies. Other technological advances have improved health systems and helped medical professionals detect diseases and treat them more easily. Meanwhile, improvements in military equipment have worsened wars and their effects on human societies.

David Sunnyside
Co-founder of Urban Splatter • Digital Marketer • Engineer • Meditator
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