Bloomberg Businessweek

Building Better Currency

There are all kinds of problems with cash and credit. Technology may be helping to solve them

Money is just so problematic, even apart from its being the root of all evil. It can disappear suddenly: A 2-year-old boy in Utah just put $1,060 of cash through a shredder while his parents weren’t looking. It doesn’t earn its keep: Apple Inc.’s returns are being dragged down by the low yield on $244 billion in cash and marketable securities that it can’t figure out how to spend. And it can seriously malfunction, as it did in last decade’s global financial crisis.

The good news is that money is getting better. Advances in information technology are making possible new kinds of it, notably cryptocurrencies. Meanwhile, the financial crisis has spurred a search for more reliable grades of grease and oil to lubricate the global economic engine. “Computational advances coupled with extraordinary monetary policies have created the perfect petri dish for

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek4 min read
The Oh-So-Slow Greening Of Cruises
After a 13-deck cruise liner crashed into a quay in Venice this summer, residents took to the canals and bridges chanting, “No grandi navi,” or “No big ships,” and local officials vowed to bar large vessels from the city center. Concerned about overt
Bloomberg Businessweek3 min read
Space for Growth
The Museum of Modern Art in New York has some of the greatest masterpieces on the planet. Until recently, though, its building wasn’t up to that same standard. Setting aside the 20-minute waits on weekends to buy tickets, no matter how many people we
Bloomberg Businessweek2 min read
Moving Geography
BLIXEN Royal Danish Ballet, Copenhagen, Sept. 11–April 16 Company soloist Gregory Dean has choreographed a three-act dance about the author Karen Blixen set to music by Claude Debussy. Blixen, the Danish baroness who wrote Out of Africa, was born i