Existing differences between digital money and printed money and their uses for developing countries

Updated: Mar 5

By Wirba Brice Divine Ransinyuy. ransinyuybricedivine@yahoo.com



Coming from a developing country with all types of challenging issues is not always an easy issue especially as it concerns economic crisis. No or limited capital flow into the economy with several restrictions on banks and financial institutions. Finmail is offering a unique opportunity and expression through creativity to raise our standards of living. Life has become more simple and easy with the coming of the internet. It came along with many fascinating things. At times, it can be concluded that there are two worlds we are living into, the virtual world and the real world in which we all live into, though on different degrees. This two types of life are still at a beginning in African countries. There’s this impression that is coming up, the more and more that is the fact the virtual world is taking an upper hand on the real world. Some people can attest by their lives that life in the virtual world is more fascinating than the real world. They have their various reasons for saying so. Though some people are for the virtual world, others are completely against it. Those that do not agree are strongly vehement against life in the virtual world. Yes, they might be rightful in what they are saying through their thoughts and dealings. We are really trapped into the world with most people taking refuge or doing their things solely in the virtual world, be it their employment, shopping and social life. Some people do it knowingly, some do it unknowingly, but the reality of things is that we are all living into the two worlds, be it the virtual world or the real world. Though at times, they turn to conflict each other. But the good thing is that they propose good facilities, we just need to know how to pick the good from the two and make the best of it. And one of the ways is the good use of the internet which is by making use of digital money.


The internet has taken the world by storm and an area it is visibly seen it’s in social life, commonly known as social media. There are also other aspects like online transactions and dealings. This is commonly known as digital or virtual money. Though before the venue of digital money, there already existed money called printed money. It goes same with the fact that there existed something else before printed money that was used as form of payment or transaction.


Digital money is a form of money which is not tangible like a dollar bill or coin or our local type of printed money, it’s in an electronic form, whereas printed money is not in an electronic form, it is in a tangible form that is, it can be seen and touched. This is just a basic difference that differentiate the digital money and printed money.


The real difference that exist between the two and reflects the life in developing countries and the world in general is that digital money and printed money is the fact that digital money is not controlled by any financial organ or government, whereas printed money is controlled by an organ or financial situation as it regulates and controls the flow of money or capital in the society for use. This is where the striking difference between digital money and printed money lies. Since in digital money there is no organ or financial institution that controls and regulates the flow of capital, it breaks all barriers like restrictions and limitations put in place by printed money through financial organs. Thus, digital money gives the opportunity to everyone is to become rich which is not the case with printed money.


Most countries worldwide especially developing countries still rely on printed money that is cash, bills and coin and very few are in use of digital money. Let’s say 1%. Due to the ongoing crisis African countries face, there is always a problem of cash, capital flow. Whereas if governments take upon themselves to use digital money like cryptocurrencies, they won’t face so much difficulties in terms of cash and payments.


Countries facing economic crisis and low capital flow should go in for digital money as it is decentralized and is very secure in its transactions, knowing you can do and buy everything using digital money. There should be an encouragement as the populations and governments are not yet aware of the goodness of digital money. Digital money will offer the following to these countries (developing and under developing countries):


● Poverty reduction will be alarming

● Capital flow into the country will increase

● Depending on the type of digital money, it will bring value to the local currency through competition, thus giving way to digital money.


Not only the fact there are these differences that exist between the two, it can be seen as an advantage for one and a disadvantage for the other and through Finmail, we clearly see the importance and good use of digital money as what they offer through payment using email address is outstanding. This helps in fighting economic crisis. Thus, the advantage is for the digital money, whereas the disadvantage for the printed money. This advantage that offers digital money is really good for developing and underdeveloped countries as they face economic crisis constantly.



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