David Wolman wants to get rid of paper money:
As Wired first noted 15 years ago, to rely exclusively on an emoney system, we need a ubiquitous and secure network of places where people can transact electronically, and that system has to be as convenient asand more efficient thancash. The infrastructure didn't exist back then. But today that network is in place. In fact, it's already in your pocket. "The cell phone is the best point-of-sale terminal ever," says Mark Pickens, a microfinance analyst with the Consultative Group to Assist the Poor. Mobile phone penetration is 50 percent worldwide, and mobile money programs already enable millions of people to receive money from or "flash" it to other people, banks, and merchants. An added convenience is that cell phones can easily calculate exchange rates among the myriad currencies at play in our world. Imagine someday paying for a beer with frequent flier miles.
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