Digital currency and financial technology are reshaping how money is created, transferred, and controlled. From cashless payments to data-driven financial services, digital systems increasingly mediate access to economic resources. In IB Digital Society, financial technology is examined not as a technical innovation, but as a digital system that reshapes power, trust, and inclusion.
This article explains how digital currency and financial technology are studied in IB Digital Society and how students should analyze them in exams and the internal assessment.
What Is Financial Technology in IB Digital Society?
In IB Digital Society, financial technology refers to digital systems that manage, process, or automate financial activity. These systems may include digital payments, online banking platforms, and automated financial services.
Financial technology is analyzed through:
- How systems operate
- Who controls financial data
- How access is structured
- What impacts occur for individuals and communities
Students are expected to focus on social consequences rather than technical features.
Understanding Digital Currency
Digital currency refers to money that exists and circulates primarily through digital systems rather than physical cash. Digital currency may be managed by institutions or embedded within digital platforms.
Key features of digital currency include:
- Cashless transactions
- Data-driven monitoring
- Reduced reliance on physical infrastructure
IB Digital Society students should analyze how these features affect power and access.
Why Digital Finance Matters in Digital Society
Money is central to participation in society. When financial systems become digital, inclusion and exclusion can change dramatically.
