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The world's first ATM is now made of gold
Economics and finance
This is the location of the first ATM, an innovation we all take for granted today. With the ATM people no longer had to physically go to their own branch bank to withdraw money from tellers.
The ATM made it possible for people to deposit and withdraw cash whenever and wherever they wanted, so it encouraged more people to use the banks instead of keeping their cash at their homes.
This in turn made it easier for people to manage their money, including paying bills more quickly and efficiently.
This change in the way our society thinks about money paved the way for money no longer being perceived as a physical item but rather an intangible number that is attached to our name.
For more information visit:
https://www.reuters.com/article/us-atm-anniversary/worlds-first-atm-machine-turns-to-gold-on-50th-birthday-idUSKBN19I166
The ATM made it possible for people to deposit and withdraw cash whenever and wherever they wanted, so it encouraged more people to use the banks instead of keeping their cash at their homes.
This in turn made it easier for people to manage their money, including paying bills more quickly and efficiently.
This change in the way our society thinks about money paved the way for money no longer being perceived as a physical item but rather an intangible number that is attached to our name.
For more information visit:
https://www.reuters.com/article/us-atm-anniversary/worlds-first-atm-machine-turns-to-gold-on-50th-birthday-idUSKBN19I166
Barclays Bank branch in Enfield, London
June 2017
Getty Images
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