As smartphones continue to take over most of the functions of the wallet, the big question is, what will the future wallet look like?
When you rush out the door in the morning, I guess that you have some basic checklist to go through: grab your phone, wallet, keys, etc. Now, what you might not be aware of is that a global survey posted on Reuters found that most people would rather lose their wallet than their cellphone. Having said that, the ‘old’ wallet was one of those essential things to carry with you along with your phone and keys before the ‘modern’ wallet and payment options of today came about.
Why is this? Well, it has something to do with the basic functions of a wallet.
What have wallets been used for throughout history?
Have a look at this picture of an Aleutian Wallet, originally used for carrying fishing tackle.
Way back when foraging and hunting was essential to survival, it’s no surprise to find our ancestors were intelligent enough to seek ways of carrying their belongings with them while keeping their hands free. According to the classicist A. Y. Campbell, the wallet was the poor man's portable larder; or, poverty apart, it was a thing that ancient people kept stocked with provisions. He also deduced that the ancient wallet was "replenished as a store”, not in a manner of a lunch basket but more as a survival pack. In another word, these wallets were mainly used for carrying things that could save your life. Who dares not bring his/her survival pack while facing the unpredictable and perilous natural environment?
From here onwards, the wallet played a rather important role afterwards.
The scholar Lawrence C. Wroth’s essay “ An Elizabethan Merchant and Man of Letters ” from 1954, writes “The traveler in question was a young, English man of 25 years, decently dressed, …and carrying fixed to his belt something he called a ‘bowgett,’ (or budget) that is, a leather pouch or wallet in which he carried his cash, his book of accounts and small articles of daily necessity.” Which suggests this well-dressed merchant was inclined to bring a bowgett, in which he stored everything but his sword, so it’s no surprise that this bowgett was important.
In 1690, the wallet was an early form of identification typically carried by aristocrats or the elite, often considered a mark of status and privilege. That is to say that the wallet was fairly significant when it came to one’s social status.
The functions of a wallet changed with the arrival of paper currency and various cards. According to Wikipedia, a pocket-sized wallet remains extremely popular to date because they are relatively easy to carry. However, some of these wallets are just not satisfactory, they are often bulky, insecure, or simply unattractive, in fact just like the one below:
Does this look familiar to you?
So, at this point, you might be thinking that with all this change, what is the future of the wallet?
Well, stay with me, and all will be revealed.
What kind of wallet does a person want? Surprisingly, that never changes.
Fundamentally, a modern wallet is a small, flat case that can be used to carry articles such as cash and credit cards. In the late 14th century it referred to a bag or a knapsack before the word “wallet” was first used. Even though the wallet has evolved considerably since then, we could still dig out some similarities by comparing the historical wallet to the modern one.
Tracing back to 3300 BCE, As “Wallet Origins and the History mentioned, Otzi the Iceman was discovered with a coin purse attached to his hip and some people consider this to be the birth of the wallet.
Just take a look at this “wallet”:
As you can see, all the important things you need to survive in the harshness of the outdoors were there including knives, flint, tinder, small pieces of food, etc. These were crammed into the purse in exactly the same way that some people today jam their wallets with cards, keys, coins and other essentials.
In other words, a person’s wallet should be able to carry all their necessities.
Take a close look, 2 belts on both ends of the purse were securely sewed so that they could strap it to their body, and the opening was sewed tightly too, so that the small things inside the purse would not fall out, proving that even then wearer needed the purse to be secure when carrying their stuff.
The fact that this purse was attached to the hip of the iceman Otzi proves that it needed to be easily accessible as well, another important aspect.
So what kind of wallet do people want today?
From “Why are there so many wallets on Kickstarter,” an article posted on Kickstarter, you can’t help but notice that about a third of these wallet projects are seeking funding, even though we already have so many wallets available to us right now.
So why is this? Perhaps it’s because the current crop of wallets out there do not satisfy the needs of the modern person, that and the fact that they are pretty much all the same especially if you go to a gadget store. As the author mentioned, we all crave the “perfect” wallet, one keeps things secure and easy to access, one that provides you a home for all your accessories but isn’t bulky or heavy, and it would be better if it were comfortable, nice-looking, etc.
These wishes haven’t really changed since the day the wallet first appeared.
PITAKA made a different wallet----the MagWallet
Actually, there are quite a few wallets out there on the market that fit the bill when it comes to “slim, simple or easy to access, so what makes MagWallet different?
Firstly, it’s more secure.
Compared to others that are made from materials such as leather or fabric, the MagWallet is made from 100% carbon fiber, which is widely used in supercars, aerospace, etc. Consequently this wallet is extremely durable and incredibly light and of course it will protect your things from damaging or scratching.
Why carbon fiber? Check out this link for some fascinating information about Carbon Fiber.
There is another significant benefit of carbon fiber, especially for a wallet: RFID-Blocking. From our previous blog, why do you need a RFID-blocking wallet we talked about the importance of RFID-Blocking for your cards’ data safety, and this is something that everyone should take seriously.
What’s more, the card slots are cleverly designed to prevent cards falling out which is another highlight when it comes to secure storage, as it ensures that your cards won’t fall out even if they are upside down.
Second, it’s minimalistic.
The days of the classic bulky leather billfold have come and gone. It’s not that sturdy generational folding cash, and card carriers are out of style, but the fact that they are incredibly inconvenient. Even more than this, there are the physical downsides to carrying around a bulky wallet as covered the danger of carrying a bulky wallet , and it possible that this type of wallet could do more harm than good. Consequently, a minimalistic wallet can be highly beneficial.
PITAKA took all of these points and many others and designed an ultra-thin wallet that fits all the occasions of your daily life’s needs.
No matter whether you are wearing jeans, a suit or casual shorts, you will only need to take MagWallet with you in the morning instead of that old bulky thing of the past.
Check out part of the size of this wallet. You will be surprised to find how slim it is.
Third, it’s modular magnetic design.
The Magwallet is world’s first modular magnetic design, which is a remarkable feature when compared to other wallets.
The design includes 6 different magnetic modules that can be joined and separated in any combination you want. The magnets within each module enable you to simply slide them so that you can access the cards within seconds, even with one hand. Sounds cool right!
I wonder if you have never heard this kind of design in a wallet before.
So how much stuff can you carry with this wallet? Well, up to 10 cards along with your daily essentials such as cash, keys, coins, SD cards, etc. That is to say, almost all your essentials can be put into this wallet.
Since the day the wallet was first discovered, its functions have gradually changed, often in parallel with the evolution of technology. But from early on to the present day, what people really wanted is a wallet that keeps things secure and easy to access, large enough to hold their important stuff but not bulky or heavy, in essence, the perfect wallet.
It’s not easy to find the perfect wallet since most of the wallets out there that we have seen are simply not up to the job in one way or another.
PITAKA are constantly striving to achieve the best, and by listening to people, studying their needs, designing and refining, we have created a unique wallet which is more secure, light weight, strong and durable and completely customizable, and that is something you really should try out for yourself.
Other features of MagWallet can be found HERE.