I must say this article seems like a bit of rambling. However it is true that private and digital currency are not new. The description of things like the Bank

I must say this article seems like a bit of rambling. However it is true that private and digital currency are not new. The description of things like the Bank of England and so on seem to me a not very exact or well explained. First, I would say that money does not always and everywhere require debt. The point however stands that currency systems can often be private, independent of the underlying money. Meaning the underlying money could be a fiat money, a gold standard or bitcoin. Currency systems unlike money often involve some kind of debt. If people are interested I would first consider: - Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775-1821 (Lecture: https://www.youtube.com/watch?v=-gn55fTRXZw https://www.youtube.com/watch?v=-gn55fTRXZw) A more detailed view about free banking in Britain: - Free Banking in Britain: Theory, Experience and Debate, 1800–1845 (http://iea.org.uk/sites/default/files/publications/files/upldbook115pdf.pdf http://iea.org.uk/sites/default/files/publications/files/upl...)