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I think the fraction of transactions using paper bills or coins is declining, so aren't the euro and dollar already becoming digital currencies? In the U.S. I g
by Bostonian 6y ago
I think the fraction of transactions using paper bills or coins is declining, so aren't the euro and dollar already becoming digital currencies? In the U.S. I get paid by direct deposit, spend using credit cards, and pay the credit cards using the ACH system.
- onecommentman 6y agoI assume this is for general digital currency. Equity, efficiency, reliability, robustness. Where in that four-space do you want to live? Paper/metal currency wins in robustness. Stickier in a positive sense in social equity space too. Less able to effectively support personal equity (justice). Reliability is probably a wash. Probably less efficient by a percent or less, but that inefficiency is already baked into the (today’s successful) system. Today’s system isn’t broken. The new system can be more easily broken in a big bad way in the short/middle-term. Euro types would love it for political reasons. If only for interbank, who among us should care? Five minute take.