ÅgMoney was originally a physical substance .... It could Åc be alive, as cattle were one of the oldest forms of money. Today although much of the money used by individuals Åc is still in the form of notes and coins its quantity is small in comparison with the intangible money that exists only as entries in bank records.
If experiments with Åc digital cash succeed then perhaps coins and banknotes will become as obsolete as cowrie shells. If that happens the change in the nature of money will surely have significant effects on society.
The challenge Åc is to ensure that such changes are beneficial to Åc society in general.Åh
Davies, R. (2003). Electronic Money, or E-Money, and Digital Cash http://www.ex.ac.uk/~RDavies/arian/emoney.html
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