At least 15 central banks are serious about getting into digital currency

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Digital cash may soon start replacing the physical kind.

The market for digital currency is down, but it’s certainly not out. Even if private cryptocurrencies are falling in popularity, it appears likely we are headed toward an era of national digital currencies that are backed by central banks.

Central banks are the institutions that set monetary policy for a nation, manage inflation, and act as the “lender of last resort”—such as the Bank of England in the UK and the Federal Reserve in the US. In fact, no fewer than 15 such central banks around the world are taking the idea seriously, and many others are at least exploring it, according to a recent report from the International Monetary Fund (IMF).

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Are we moving from nation states to stateless nations?

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Philip Saunders: This is the age of disruption. What we’re witnessing is a shift from territorial monopolies on the use of force as a way of ordering civilization, toward a world of borderless civic networks. Or, in the words of Tom W. Bell, a move from nation states to stateless nations, which extend the dynamics of social networks into areas traditionally monopolized by government.

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Will Bitcoin become a policy issue for the U.S. Congress?

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Digital currency may soon become an issue that could unite US politicians.

Recent US Congresses have been some of the least productive in the country’s history, and the 113th Congress has been no different. The sheer number of policy-related issues tabled since January 2013 has put the current Congress on pace to become the least productive in the nation’s history, rivaling the 112th Congress in how few laws it could ultimately pass.

 

 

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Peter Thiel’s Quest for Creating a Viable Global Currency

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Futurist Thomas Frey: In 2003 the DaVinci Institute produced a landmark event called “The Future of Money Summit” which took place at the Omni Hotel in Broomfield, CO. One of the featured speakers was Bernard Lietaer, chief architect of the Euro.

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The Coming Collapse of Bitcoin?

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Futurist Thomas Frey: In 2008 the entire world was beginning to panic as our global financial systems teetered ever so close to total meltdown. Major banks were either failing or near failure and the entire house of cards seemed to be one 10 of clubs away from becoming a meaningless flat stack in the middle of the table.

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