The Future of Money

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Author(s):
OECD
17 May 2002
Pages:
176
ISBN:
9789264195929 (PDF) ;9789264196728(print)
http://dx.doi.org/10.1787/9789264195929-en

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Money's destiny is to become digital. Throughout the ages physical money in the form of objects, coins and notes has increasingly been replaced by more abstract means of payment such as bills of exchange, cheques and credit cards. In the years to come that trend to virtual money will continue apace. As technological advances in ICT and biometrics come on-stream, as intangibles progressively become the primary source of value-added in the burgeoning knowledge economy, and as the public at large come to grasp the advantages of digital transactions, virtual forms of payment will dominate. How quickly will this happen on a major scale, and will cash disappear altogether? How will it affect our daily lives? Will it deepen already existing rifts in society? Does virtual money threaten control of the money supply, raising the spectre of greater inflationary risks? Or will it put central banks out of business? This book tackles these and many other critical questions, offering timely suggestions on why and how to make the transition to the world of digital money.

Also available in French
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Table of Contents

Chapter 1. The Future of Money by Riel Miller, Wolfgang Michalski and Barrie Stevens
Chapter 2. Whence and Whither Money? by Michel Aglietta
Chapter 3. The Future Technology of Money by Zachary Tumin
Chapter 4. Intangible Economy and Electronic Money by Charles Goldfinger
Chapter 5. New Monetary Spaces? by Geoffrey Ingham
Chapter 6. Singapore Electronic Legal Tender (SELT) – A Proposed Concept by Low Siang Kok
Address by: Ms. Lydie Polfer
Address by Donald J. Johnston
Address by Luc Frieden

 
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