June 28, 2017. A blog post by Margaret Doyle, partner, Deloitte UK. In one corner was David Wolman, a contributor to Wired magazine, who was so disgusted by cash that he wrote a book with the apocalyptic title The End of Money, about “the coming cashless society.”. In the other corner was Brett Scott, a self-styled “economic activist,” who argues that a society without cash (i.e ... David Wolman, a contributing editor at Wired, notes in this book The End of Money, “Because the cost of making a coin or banknote is (usually) less than the face value of the object itself, the supplier of the money gets to keep the difference.” This phenomenon is called seigniorage. ... the Japanese-based Mt. Gox bitcoin exchange folded ... In an era when books, movies, music, and newsprint are transmuting from atoms to bits, money remains irritatingly analog. Physical currency is a bulky, germ-smeared, carbon-intensive, expensive medium of exchange. Let’s dump it! – David Wolman, WIRED, 17.06; “Time to Cash-Out: Why Paper Money Hurts the Economy“ Intrigued by the distinct possibility that cash will soon disappear, author and Wired contributing editor David Wolman sets out to investigate the future of money…and how it will affect your wallet. Wolman begins his journey by deciding to shun cash for an entire year—a surprisingly successful experiment (with a couple of notable exceptions). 2002 report by the United Nations. David Wolman, writing in WIRED (June 2009), noted: “In an era when books, movies, music, and newsprint are transmuting from atoms to bits, money remains irritatingly analog. Let’s dump it!”
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