Why do we love cash?Because we can get stuff with it. Any stuff.That in fact is the beauty of cash or fiat currency. It’s accepted everywhere. And because it is accepted everywhere this means from a user’s perspective if offers maximum optionality. There’s no “your money’s not good here” risk (unless you’re a drug dealer or a money launderer, but that’s a different story). It’s guaranteed that if you have the money your trade will be done.What does the future hold for us if the crypto blockheads get hold of finance?The opposite of multi-purpose multi-functional currency.Limited single-purpose currency.Case in point, the latest absurdist proposal from the blockchain/cryptocurrency space which arrived in the collective FT email inbox on Friday, with accompanying note stating:Please find
Izabella Kaminska considers the following as important: Uncategorised
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Why do we love cash?
Because we can get stuff with it. Any stuff.