Cash Is a State-Backed Utility – Part 3

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 ...

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