Money has shaped our modern economy. We have gone from using grain and cattle and even salt as currency to using metal tokens (coins) and paper.
However, paper has the habit of sticking and it has been around ever since the Chinese introduced it during the Tang dynasty. We have grown comfortable using paper currency and no one can deny that it has had its usefulness.
Now we are approaching another era in which bits are playing the same role that paper did. Digital currencies are no longer something that will happen way into the future, they are here.
How will the advent of digital currencies like Bitcoin, Monero, Ethereum and etc affect the future shape of the economy?
Is it the end of Capitalism?
Ed Finn wrote an article in the Guardian asking, “Do digital currencies spell the end of Capitalism?” Finn’s article covered the DAO issue and how Ethereum community dealt with the hack. He examines the very nature of digital currency and ponders the questions surrounding ‘programmable money.’...
Source: http://cointelegraph.com
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