Friday, 12 June 2009

Time to Cash Out: Why Paper Money Hurts the Economy

Two years ago, Hasbro came out with an electronic version of Monopoly. Want to buy a house? Just put your debit card into the mag-stripe reader. Bing! No more pastel-colored cash tucked under the board. Turns out it wasn't Lehman Brothers but Parker Brothers that could smell the future. At least, that's what participants at this year's Digital Money Forum believe. In March, after a long day of talks with titles like "Currency 2.0" and "Going Live With Voice Payments," forum attendees at London's plush Charing Cross Hotel gathered for drinks—and, yes, a few rounds of Monopoly Electronic Banking Edition.

Unfortunately, the world's governments remain stuck in the past. To maintain our stock of hard currency.....................To read the full story CLICK HERE

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