Is money going digital? An alternative perspective on the current hype
Abstract Current financial discourse suggests the imminence of a cashless society, a concept that arose from the global popularization of digital financial services and the development of technologies with the potential for application in financial markets. However, claims about the impending obsole...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2018-07-01
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| Series: | Financial Innovation |
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| Online Access: | http://link.springer.com/article/10.1186/s40854-018-0097-x |
| _version_ | 1818143361814495232 |
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| author | Daniel Gersten Reiss |
| author_facet | Daniel Gersten Reiss |
| author_sort | Daniel Gersten Reiss |
| collection | DOAJ |
| description | Abstract Current financial discourse suggests the imminence of a cashless society, a concept that arose from the global popularization of digital financial services and the development of technologies with the potential for application in financial markets. However, claims about the impending obsolescence of paper money are neither disruptive nor a novelty. Instead, this paper argues that the conversion of money from paper to bits has been a gradual, adaptive process, and that money is already digital. Moreover, in this paper we propose that the statuses of electronic money (e-money) and banknotes have switched in the view of monetary authorities. |
| first_indexed | 2024-12-11T11:30:27Z |
| format | Article |
| id | doaj.art-4ae83035f07343fc83f55ff72d1f3ad1 |
| institution | Directory Open Access Journal |
| issn | 2199-4730 |
| language | English |
| last_indexed | 2024-12-11T11:30:27Z |
| publishDate | 2018-07-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Financial Innovation |
| spelling | doaj.art-4ae83035f07343fc83f55ff72d1f3ad12022-12-22T01:08:53ZengSpringerOpenFinancial Innovation2199-47302018-07-01411610.1186/s40854-018-0097-xIs money going digital? An alternative perspective on the current hypeDaniel Gersten Reiss0Central Bank of Brazil, Department of Banking Operations and Payments System’s Research DivisionAbstract Current financial discourse suggests the imminence of a cashless society, a concept that arose from the global popularization of digital financial services and the development of technologies with the potential for application in financial markets. However, claims about the impending obsolescence of paper money are neither disruptive nor a novelty. Instead, this paper argues that the conversion of money from paper to bits has been a gradual, adaptive process, and that money is already digital. Moreover, in this paper we propose that the statuses of electronic money (e-money) and banknotes have switched in the view of monetary authorities.http://link.springer.com/article/10.1186/s40854-018-0097-xDigital moneyDigital currencyE-moneyDigital financial services |
| spellingShingle | Daniel Gersten Reiss Is money going digital? An alternative perspective on the current hype Financial Innovation Digital money Digital currency E-money Digital financial services |
| title | Is money going digital? An alternative perspective on the current hype |
| title_full | Is money going digital? An alternative perspective on the current hype |
| title_fullStr | Is money going digital? An alternative perspective on the current hype |
| title_full_unstemmed | Is money going digital? An alternative perspective on the current hype |
| title_short | Is money going digital? An alternative perspective on the current hype |
| title_sort | is money going digital an alternative perspective on the current hype |
| topic | Digital money Digital currency E-money Digital financial services |
| url | http://link.springer.com/article/10.1186/s40854-018-0097-x |
| work_keys_str_mv | AT danielgerstenreiss ismoneygoingdigitalanalternativeperspectiveonthecurrenthype |