Friday, October 27, 2017

The battle between public and private money

Where is money headed? “As US policy analyst Pippa Malgrem observes, governments are scrambling to control the new forms of currency; there is a battle looming between private and public control of money. What governments fear is that transactions will go offline and be invisible to their oversight.........The total value of cryptocurrencies is currently only about $US100 billion, so it is still small. But the threat is nevertheless real. There is a very high chance that what we mean by money will become very different in the future and it will threaten current power structure.”

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