Financial Technology Through the Ages

border


financial-technology-machinery
2018 smart phone from lifewire.com

TECHNOLOGICAL ADVANCES The development of financial technology machinery has increased the storage capacity and speed of financial transactions exponentially. But, the latest technology can also bring my activities to a halt.

For example, I find that many computer systems also known as apps inhibit the ease of use rather than encourage simplicity.
financial-technology-machinery
IBM’s First Personal Computer from 34 years ago on observer.com

My History

I did not grow up with the latest financial technology machinery. In fact the most complicated mathematical technology was the slide rule primarily for engineering calculations. This is a sample of the pre-computer computing machine, the slide rule from cheerfulcurmudgeon.com.

cheerfulcurmudgeon.com

In addition to that wizardry was the electric adding machine which has evolved over the century. They still exist but can not fit in the relatively small space of a slide rule and especially today’s tiny smartphones. By the way, a slide rule is also known as a slapstick.

vintage-adding-machine A vintage Victor 63 key adding machine on Pinterest. com

HOW MONEY IS EXCHANGED

It is still possible to pay for things in person with cash. In addition, things can be paid for through the mail by check, money order, or credit card. Today the most popular means of payment is by credit card in person or online. Rarely do I carry cash as I prefer to pay by credit card in person and online.

credit-cards Guide to Choosing a Credit Card from Upon Arriving.com

Pre-My History Before the slide rule going back thousands of year was the abacus. Although it is of unknown origin, it actually had the ability to solve mathematical questions very quickly. It was also known as a calculating tool from Wikipedia. Here is what one looked like.

abacus.com

CONCLUSION

“Technology is the application of knowledge for achieving practical goals in a reproducible way” according to Wikipedia. There is no question that financial technology machinery has impact our world in ways that one can barely imagine. In spite of this, there are times when I wish I could return to an old fashioned ledger to keep track of my monthly numbers. Is this a possibility or just a nostalgic fantasy?

financial-technology-machinery

Boorum & Pease 66 Series Account Book, Journal Ruled, Green, 150 Pages, 12-1/8″ x 7-5/8″, Blue from amazon.com

SOURCES & RESOURCES

slide rule
abacus
adding machine
account journal
The complete history of credit cards, from antiquity to today


border

Continue Reading