Final answer:
With the ongoing transition to digital currencies and decreasing reliance on paper currency, it is more pertinent to educate people on the use of digital currency. This need has been highlighted by the pandemic and is underscored by the growing importance of cryptocurrencies and the widespread use of cards for transactions.
Step-by-step explanation:
Practically speaking, we should spend more time helping people learn how to use digital currency than paper currency. This shift towards digital payment methods has been accelerated during the COVID-19 pandemic when many shops experienced a scarcity of hard currency and requested the use of credit/debit cards or mobile payment apps. The transition is also evident with the rise of cryptocurrencies like Bitcoin, a digital currency generated by solving complex mathematical problems. Bitcoin and other digital currencies are considered forms of general-purpose money that are becoming increasingly relevant in global transactions.
The advancement from commodity-backed paper money to fiat currency illustrates an ongoing evolution. Fiat money, such as the US dollar, is valued based on universal faith and trust and is not backed by a physical commodity. As technology and global integration continue to advance, the reliance on paper currency is diminishing, evidenced by the everyday increasing use of debit and credit cards. Understanding digital currency is becoming more crucial in modern economies, making it more pertinent to educate individuals on its use and management.