The Future of Money [electronic resource] /
Organisation for Economic Co-operation and Development.
Organisation for Economic Co operation and DevelopmentContent Provider
Organisation for Economic Co-operation and DevelopmentContent Provider
Paris : OECD Publishing,
2002.
Money's destiny is to become digital. Throughout the ages physical money in the form of objects, coins and notes has increasingly been replaced by more abstract means of payment such as bills of exchange, cheques and credit cards. In the years to come that trend to virtual money will continue apace. As technological advances in ICT and biometrics come on-stream, as intangibles progressively become the primary source of value-added in the burgeoning knowledge economy, and as the public at large come to grasp the advantages of digital transactions, virtual forms of payment will dominate. How quickly will this happen on a major scale, and will cash disappear altogether? How will it affect our daily lives? Will it deepen already existing rifts in society? Does virtual money threaten control of the money supply, raising the spectre of greater inflationary risks? Or will it put central banks out of business? This book tackles these and many other critical questions, offering timely suggestions on why and how to make the transition to the world of digital money.
Foreword; Table of Contents; Executive Summary; Chapter 1. The Future of Money; Chapter 2. Whence and whither money?; Chapter 3. The future technology of money; Chapter 4. Intangible Economy and Electronic Money; Chapter 5. New Monetary Spaces?; Chapter 6. Singapore Electronic Legal Tender (SELT) - A Proposed Concept; Addresses by; Address by Ms. Lydie Polfer, Deputy Prime Minister and Minister of Foreign Affairs and Trade...; Address by Donald J. Johnston, Secretary-General of the OECD; Address by Luc Frieden, Minister of Treasury and Budget and of Justice, Luxembourg
Annex: List of Participants
"Papers presented at an OECD conference held in Luxembourg in July 2001."
Money's destiny is to become digital. Throughout the ages physical money in the form of objects, coins and notes has increasingly been replaced by more abstract means of payment such as bills of exchange, cheques and credit cards. In the years to come that trend to virtual money will continue apace. As technological advances in ICT and biometrics come on-stream, as intangibles progressively become the primary source of value-added in the burgeoning knowledge economy, and as the public at large come to grasp the advantages of digital transactions, virtual forms of payment will dominate. How quickly will this happen on a major scale, and will cash disappear altogether? How will it affect our daily lives? Will it deepen already existing rifts in society? Does virtual money threaten control of the money supply, raising the spectre of greater inflationary risks? Or will it put central banks out of business? This book tackles these and many other critical questions, offering timely suggestions on why and how to make the transition to the world of digital money.
Money
Electronic funds transfers