Re: Digital Cash?
Surely digital money already exists doesn't it?!
Bitcoins have been around for some time now and raised some of the concerns in the article.
Aside from that the money that you think exists in your bank account is equally just digital money. It is vapourware. It doesn't exist physically.
Furthermore, all of the bank notes sitting in your wallet are pretty worthless being as they are nothing more than bits of paper (well actually linen!). That you or someone else places any value on those notes over and above the paper value is purely a temporary situation and one which could collapse overnight. Were those bank notes underpinned by actual gold sitting in a vault somewhere then they would have true value, but the powers that be removed the link between notes and gold a long time ago.
A financial collapse is absolutely inevitable regardless of which format of money is used and while ever that money is not underpinned by a real asset.