My column that originally appeared in the Duke Political Review.
The advancement of the digital age has transformed financial transactions, both in high powered trading and in everyday use. According to Nilson Reports, some $4 trillion in purchases occurred using credit, debit or prepaid credit cards in 2012. Online shopping is omnipresent, and smartphones have even rendered trips to your local bank unnecessary, as checks can be deposited directly into your account from wherever you are. The one area of payments that remained undisrupted by the digital age was the concept of currencies themselves. Continue reading