The 7th characteristic of money

[pmbug]

...
It is the advent of computing technology and power which facilitates both a digital alternative to physical cash and the systems for surveillance and control that comes with third party clearing functionaries. This is new ground for monetary systems - there is no direct historical analogue for what is developing today.

That is probably why history only records six characteristics for money. It is with the development of digital money systems that a seventh characteristic for money becomes apparent:

Money should be free of counterparty entanglement

Where digital money systems require even the most basic transactions to involve third parties for payment clearance, there is no guarantee that money will fulfill it's function as a medium of exchange.
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More:

https://www.pmbug.com/threads/the-seventh-characteristic-of-money.6960/

I got a burr in my saddle this morning and wrote the linked article.

 

[pmbug]

Tough crowd. I'll have work in some tasty memes next time I guess.

 

[jkr]

[video]https://www.youtube.com/playlist?list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc[/video]

 

[pmbug]

The beat marches on for CBDCs.

A digital Canadian dollar?

It may not look like it’s going to happen any time soon, but the Bank of Canada has quietly taken steps to control a such a concept, according to Blacklock’s Reporter.
Article content

In Dec. 13 and Dec. 19 filings, the bank asserted ownership of “digital dollar,” “digital Canadian dollar” and “central bank digital currency” in both official languages under the Trademarks Act.
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https://torontosun.com/news/nationa...igital-dollar-other-related-trademarks-report

Will people wake up and demand real money before it's too late?

 

[acptulsa]

Oopsie! China dropped an EMP device. Computer fried and you're officially broke.

Silver coins are such lovely things.