Milton Friedman nobel Laurate predicted cryptocurrency in 1999
Milton Friedman, Nobel Laureate and one of the most renowned economists of the 20th century, his ideas radically changed the way that policymakers made their decisions and in this interview 1999 talked about “eCash”...and I wanted to share this with all of you, because for me Milton FriedMan is the definition of a visionary, indeed a man a way ahead.
Here the full video
About the "eCash " issue is from 13.30 min to 14.47 min
Some of his quotes:
"I think that the Internet is going to be one of the major forces for reducing the role of government."
"The one thing that's missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A."
"You may get that (e-cash) without knowing who I am. That kind of thing will develop on the Internet and that will make it even easier for people using the internet."
Crypto-currency is an implementation of E-Cash. I think most expected a company would create a centralized system like what Paypal is but Friedman does say "without record" and certainly you need only the email addresses for sending money if both are on Paypal and in good standing.
Cryptocurrency is a fusion of several ideas: Signatures, peer-to-peer, and distributed ledger and some way to issue such currency (now that we have other methods apart from proof of work).
Hello @leprechaun thank you for your comment and your insights, the purpose of this post it is to underline that Milton Friedman talked about "eCash" almost 20 years ago! Isn´t amazing?
It sure is.
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