30 May '12, 9pm

There’s No Stopping the Rise of E-Money

Science-fiction writers once imagined a galactic currency that would grease the wheels of commerce from here to Alpha Centauri. In fact, however, we are tending in precisely the other direction, toward a burgeoning number of ever more specialized currencies. These will circulate electronically, by means of the mobile phones that are increasingly part of the dress of every person on the planet. Seemingly everywhere you look, you can see the emergence of this pattern in what futurologists call the weak signals [PDF] of change. These are the changes that will be seen, a generation from now, to have foreshadowed a technological revolution. That money is a technology is obvious, once you look at it. It is not a feature of the natural world but rather a constructed tool, one that defines a way of doing things. It is a clearly specified standard, like the Internet Protocol, the g...

Full article: http://spectrum.ieee.org/computing/networks/theres-no-sto...

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