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> Maybe I just lack imagination, but I am missing where the benefit of this lies. When Apple has a coin and Toyota has a coin and Kodak has a coin (as seemed wo
by noch 6y ago
> Maybe I just lack imagination, but I am missing where the benefit of this lies. When Apple has a coin and Toyota has a coin and Kodak has a coin (as seemed would be the case at the time this was published) why is it any better to hold any one of these, barter through a set of intermediaries to get to ConvenienceStoreCoin, and settle your candy purchase with that, versus holding investments, selling them for cash, and using that everywhere?
These corporate coins, are a form of company scrip.
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In the United States, mining and logging camps were typically created, owned and operated by a single company. These locations, some quite remote, were often cash poor; even in ones that were not, workers paid in scrip had little choice but to purchase goods at a company store, as exchange into currency, if even available, would exhaust some of the value via the exchange fee.
With this economic monopoly, the employer could place large markups on goods, making workers dependent on the company, thus enforcing employee "loyalty".
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https://en.m.wikipedia.org/wiki/Company_scrip https://en.m.wikipedia.org/wiki/Company_scrip