How Central Bankers Are Reshaping the Definition of Cash

Whereas struggling to let go of the normal definition, the authors settle for that the technological advances – pushed largely by the emergence of blockchains – enable for some separation of cash’s options. What cash can do has been impacted by know-how, in methods we’re all nonetheless coming to phrases with. It has at all times been capable of set off programmatic capabilities (resembling in merchandising machines and arcade video games), solely now they’re subtle. It has at all times had the potential to even be a collectible (signed payments, historic notes), solely now with a lot higher flexibility. Now, cash can embed each clearing and settlement. Now, cash could be programmed.