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European central banks are looking into moving to electronic cash that can be programmed to gradually lose value. This could solve the problem of cash hoarding
by yellowstuff 11y ago
European central banks are looking into moving to electronic cash that can be programmed to gradually lose value. This could solve the problem of cash hoarding at negative interest rates.
- grp 11y agoA similar system is already available at the Wir bank [1]. For a short analysis, see [2]. [0] http://wir.ch/ http://wir.ch/ (Their website is not available in english) [1] https://en.wikipedia.org/wiki/WIR_Bank https://en.wikipedia.org/wiki/WIR_Bank [2] https://www.quora.com/How-does-the-WIR-Bank-work https://www.quora.com/How-does-the-WIR-Bank-work
- scotch_drinker 11y agoOnce upon a time, cash hoarding was called "saving". But the central banks of the world have declared war on savers so I guess we need a new term for it.