Money is clever, weird stuff. While entirely abstract, it also reifies our social power structure. It’s a form of memory, a way to organise strangers, and a utilitarian means by which the value to society of incommensurable things is plutocratically triangulated. More than that, it’s the stuff we use to pay the window cleaner.
Being a social substance, money is constantly evolving — from giant stone discs, to digital payments. Are stablecoins the next phase? According to the BIS, no.
Or rather, NO! 🤬🤬🤬
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