Today, many people use the internet and smartphones to transfer money to friends, family, and businesses. Is this a positive or negative development?

Transactions

of

money

among people and businesses

has

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have

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been a daily occurrence

since

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for

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many

millenia

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millennia

.

Although

in the past

transfering

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transferring

was a tangible activity involving notes and coins, with the advancements in internet and mobile technologies, the physical aspect of fund

transfering

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transferring

has now mostly transitioned into electronic means. In my opinion, I believe that

this

transformation is a favourable evolution

due to

several key benefits. one of the main benefits of performing

money

transfering

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transfer

transferring

with the aid of technology is the high level of convenience experienced. Since

,

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apply

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transactions

are carried out electronically, there are no limitations in locale, and

also

the activities are performed

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in realtime

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realtime

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real time

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.

For example

, if family members living in

seperate

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separate

countries require to move funds amongst each other, now they can achieve

this

using a mobile banking app.

Thus

,

such

features

provides

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provide

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a

hassle free

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hassle-free

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and convenient means of carrying out

such

activities. Another advantage of electronic fund

transfering

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transferring

can be linked to the high

leve

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level

of security provided to

money

. In the past transfering cash required people to physically move

money

from one place to another, which increases the chances of a theft occurring.

For instance

, at present

money

can be digitally

transfered

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transferred

between bank accounts, and these

transactions

are

end to end

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end-to-end

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encrypted ensuring

the

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a

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high level of security.

Furthermore

, as electronic

money

transfering creates a digital

foot print

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footprint

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of all the activities, it can be used in terms of valuable information for budgeting purposes. Since

,

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apply

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financial institutions

records

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record

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details of all the

transactions

people or businesses can use these data for analysis purposes for

future

plans. One example can be related to a household where the family use the past transaction data to understand

about

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apply

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unnecessary past expenses that they can avoid in the

future

to improve their savings.

Thereby

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Therefore

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,

such

data is very valuable when planning for the

future

.

Thus

in conclusion, I strongly believe that the shift of

money

transfering

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transferring

from

the

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apply

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traditional methods to the current electronic means has many benefits ranging from an individual perspective to global e-commerce,

due to

the convenience, level of security, and opportunities to support

future

fund

managment

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management

that

such

means provide.