September 1, 2016
The only reason cash works, as in everyone accepts it, everyone trades it, everyone saves it, and everyone bets on it – literally and metaphorically – is because the state backs it.
Cash’s killer application is its ubiquity in terms of acceptance and usage.
Cash’s design is highly intuitional. It does not require a user manual. Case in point, our three-year-old was never tutored on the importance or usage of cash but somehow figured it out very early in his existence.
Cash’s design is universal. For ...