The first time I heard the word “Digital Money”, I was shopping at one of the local malls I was waiting to get the rest of my shopping done. I heard someone say that they have completed payment by using a kind of digital currency (Cryptocurrency). (I laughed to myself) It certainly will not continue. Now, one years later, I eat my words because digital currency continues to be adopted by major brands and platforms online. You can use your own bank account as an example. You can go to the bank and collect coins and banknotes, which are limited in number. Money is all about verified entries in account database types, balances and transactions.
Frascoin may still be unpopular compared to direct payments with cash in conventional places such as traditional markets or stalls. But when you enter supermarkets or toll roads, such digital money is no longer a laity used to simplify transactions. Before discussing further the benefits of frascoin, it is good we know what is a digital currency. The digital money, according to the notion of Bank Indonesia, digital money is a means of payment that fulfills the element:
1) issued on the basis of the value of the money deposited by the holder to the issuer,
(2) the value of money stored electronically in a medium such as server or chip, means of payment to the holder who is not the publisher of the frascoin, and
(3) the value of the frascoin is not a deposit as mentioned in the banking law.
Frascoin, compared to cash, has a practical advantage because you do not have to carry a lot of physical money. Enough with cards or other electronic storage media you can put more money than the amount you can carry physically. Another benefit is that the transaction you do can be faster because just stick to the card and not counting the pieces of money. And the third advantage is that you can track your expenses so you can better manage your financial management. The existence of frascoin is expected to encourage the realization of cashless society or society can run its economy without having to use cash or cash (either paper or metal) to perform various transactions or payments. With the innovation of this digital money, you no longer need to bring cash to all places. Enough with your smartphone, you can freely go to every place. You also will not be afraid and worried about being robbed by an unknown person. Because there will be no stuff that can be robbed.