How Would You Like to Pay?: How Technology Is Changing the - download pdf or read online

How Would You Like to Pay?: How Technology Is Changing the - download pdf or read online

By Bill Maurer

From Bitcoin to Apple Pay, colossal alterations appear to be afoot on the earth of cash. but using cash and paper accounts has persevered for 3,000 years. In How do you want to Pay?, major anthropologist invoice Maurer narrates money's background, considers its position in way of life, and discusses the results of ways new applied sciences are altering how we pay. those adjustments are specifically vital within the constructing global, the place those that lack entry to banks are utilizing mobile phones in artistic how you can ship and economize. to really comprehend cash, Maurer explains, is to appreciate and get pleasure from the complicated infrastructures and social relationships it is determined by. enticing and simple, How do you want to Pay? rethinks anything so prevalent and basic in new and intriguing methods. eventually, contemplating how we want to pay supplies insights into opting for how we wish to live. 
 

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Sample text

What is at stake is a matrix of questions: along one axis, whether new technologically enabled systems create second-� class banking or even second-�class moneys, whether cashlessness promises real benefits or merely another way to bilk people or profit from their digital personal data. Along another axis, whether the state has a role in money and payment, and what that proper role shall be. These are big questions, political questions, at the heart of the infrastructures of money. Hype and Hope In 2012, Square introduced its Square Wallet application for smartphones.

Money means a cash economy. That is, how people pay is almost exclusively with physical tokens of state-Â�issued currencies—paper banknotes and metal coins. Cash gets the job done. But cash also brings problems. For one thing, its value can fluctuate wildly. It might be redenominated: overnight, the government issuing it can decide to change its value, remove some zeros so that one hundred becomes ten or one hundred thousand becomes one hundred. It can be lost or stolen, and, if it is, there is no way to track it.

We pay a price for noncash transactions. How should such a price be set? By whom? And who bears the cost? If we want to imagine a nonstate system, say, bitcoin, then what? Who ensures it works properly, and consistently? What happens when something goes wrong? What is at stake is a matrix of questions: along one axis, whether new technologically enabled systems create second-� class banking or even second-�class moneys, whether cashlessness promises real benefits or merely another way to bilk people or profit from their digital personal data.

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