As a society we have grown so accustomed to the status quo of today's money - fiat currencies issued and controlled by governments and central banks - that we forget money periodically goes through a great upheaval.
For some, the reinvention of money is a chance to break free from state and corporate control.
For others, it's an opportunity to further entrench the dominant businesses of today - such as Facebook and Goldman Sachs, two of many big firms with their eye on the reinvention of money.
If you want to understand our collective future, follow the money.
First, the steady adoption of emerging technologies such as blockchain is laying the foundation for a new economic infrastructure that supports the digitization of all assets, most importantly money.
Bitcoin, which emerged from our civil society outside the control of governments and big business, paved the way for the reinvention of money.
One area where this is apparent is in the realm of money.
Third, influential Silicon Valley giants such as Facebook having gobbled up the lion's share of revenue in the media and information industries now have their sights on the bigger prize of payments and banking, with some setting their eyes on nothing short of the reinvention of money.
The coming cataclysm will, for better or worse, reshape money and our world for decades to come.
The digital economy that is emerging from this crisis will require digital money.
This Is Money in 2030
Published on Oct 5, 2020
by Coindesk | Published on Coinage
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