A technological solution to a social / economic problem? I don't think so. It's like the people talking about how micronations like Sealand will solve social p

A technological solution to a social / economic problem? I don't think so. It's like the people talking about how micronations like Sealand will solve social problems. Nup, you can go to a country with fewer laws now (Somalia?) if you want to live in an anarchy. Guess what - there's still people, and all the problems people tend to make for themselves. You can buy foreign currency from many banks. You can even create your own pseudo-currency (though it may be illegal). Good luck using it. Micro-payment proponents haven't yet found a cure for stinginess. Crime is a factor. A lot of criminals will just find other payment methods, like the online payment rings that already exist (how else do spammers get paid?). It will cut the theft of cash, and probably cause more theft of mobiles / identity theft. If your mobile phone is your wallet, that won't stop a pickpocket from taking it. As for all the "fiat capital" arguments .. no-one is seriously going to think it changes everything. All major currencies these days are fiat, and online ones will be no different. They can be effectively backed by gold and / or oil (just like current ones are / are not depending on whose cool-aid you're drinking), but I wouldn't bet on them being any different. It will be nice to be able to order a coffee using a mobile phone at somewhere other than Starbucks. It won't be a revolution.