One form of private money that is often overlooked are Banknotes of Scotland. These work like stablecoins in that the banks must have reserves to back up the Banknotes.
Seigniorage in general is an interesting topic. In terms of Bitcoin and Hive, we have seigniorage without a Lord or government to issue them.
It is actually more than that. It comes down to the communication system. My next post (or one of the next few) will deal with how we are talking about nothing more than computer networks.
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I heard Elon Musk mention that money is price data communicated between two parties, or communicated into the future. I think it was related to his effort to create x.com or PayPal. I have not given it much thought yet. I’m hoping that’s where you’re headed.
Musk understands the financial world. This is a point people miss based upon his lunacy on Twitter and stuff he says. However, he is right. We are in a ledger money world where communication systems are a big part of the monetary system.
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