Two centuries ago, few were prepared to voluntarily accept paper currency that was not directly convertible into precious metal — gold or silver. Today, who worries about that? In time, the same should happen with electronic money.
Benjamin J. Cohen is an economic consultant for OpenCoin, a Professor of International Political Economy at the University of California, Santa Barbara, and author of, among others, The Future of Money (2004), The Future of the Dollar (2006), and The Future of Global Currency (2010).
The Ripple Blog recently spoke with Professor Cohen about the impact of electronic currency on the global economy.
Via Marc Tirel