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Author Topic: irishtimes.com: What price for a truly flexible online currency?  (Read 2595 times)

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What price for a truly flexible online currency?

(DANNY O'BRIEN)

Quote
Nonetheless, stranger things than Facebook game money have emerged as methods for transferring value. Like cigarettes in prisons, a world connected by near universally accessible, global high-speed communications has been struggling to overcome the distinct lack of a universally-accessible, global, high-speed currency. Locally, mobile phone users without bank accounts have stumbled upon pay-as-you-go cards as a way of remotely paying others (you buy the card, then read them the number). As I’ve mentioned in previous columns, an underground economy swiftly emerged around BitCoins, which might be best described as the minimal viable model for an unregulated electronic currency.

Source: http://www.irishtimes.com/newspaper/finance/2012/0329/1224314044691.html
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