New forms of money are appearing at an ever-faster rate. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny?

Nowadays, the electronic form of currencies such as cryptocurrency has a considerable influence on our exchange. It is definitely an advancement as it ensuring safe, touchless and spontaneous transaction. This essay will support the previous statement along with few suggestions to improve the exchage of such currencies. First of all, the explicit idea behind the concept allow the money to store electronically and hence the customer can access convenienty. Along with that, this system providing safe and contactless use of money and at the same time avoiding threat from thieves. Since they are 24x7 active, people can enjoy their freedom while managing it and at the same time, a considerable increase in exchange contribute to the economic development of the society. We can see this when we analyse the latest trends in online purchases, especially while promotions and offers are on going. Even though cryptocurrencies are efficient, still they are lacking an effective management system. Strict rules and regulations should be implemented to safeguard the transactions and a hassle free monitoring should be essential to confirm the even distribution of wealth. Evidence for this is provided by the story of Swiss Bank in which people are investing unauthorised and untaxable money. Taking everything in to consideration, it is evident that the new forms of money has a remarkable impact in the economic market as it elevate the trade and commercial activities. However, authorities and organizations would be keen enough to make sure that the flexibility of this concept might not be exploited as loop holes for performing fraudulant activities.