Latest By
Category:


Armor
Artificial Intelligence
Biology
Clothing
Communication
Computers
Culture
Data Storage
Displays
Engineering
Entertainment
Food
Input Devices
Lifestyle
Living Space
Manufacturing
Material
Media
Medical
Miscellaneous
Robotics
Security
Space Tech
Spacecraft
Surveillance
Transportation
Travel
Vehicle
Virtual Person
Warfare
Weapon
Work

"I believe in limited government, and the 20th century has been the century of government. The data is uniform. The government has failed at every single task it has set out to do, with the exception of waging war."
- Bart Kosko

Electronic Cash  
  A digital currency, like Bitcoin.  

Of course, once these techniques were in place, they conclusively destroyed the ability of governments to control the flow of electronic funds, anywhere, anytime, for any purpose. As it happened, this process had pretty much destroyed any human control at all over the modern electronic economy. By the time people figured out that raging nonlinear anarchy was not exactly to the advantage of anyone concerned, the process was simply too far gone to stop. All workable standards of wealth had vaporized, digitized, and vanished into a nonstop hurricane of electronic thin air. Even physically tearing up the fiber optics couldn't stop it; governments that tried to just found that the whole encryption mess oozed swiftly into voice mail and even fax machines.
...

Alex did not find it surprising that people like the Chinese Triads and the Corsican Black Hand were electronically minting their own cash. He simply accepted it: electronic, private cash, unbacked by any government, untraceable, completely anonymous, global in reach, lightninglike in speed, ubiquitous, fungible, and usually highly volatile. Of course, such funds didn't boldly say "Sicilian Mafia" right on the transaction screen; they usually had some stuffy official-sounding alias such as "Banco Ambrosiano ATM Euro-DigiLira," but the private currency speculators would usually have a pretty good guess as to the solvency of the issuers.

From Heavy Weather, by Bruce Sterling.
Published by Bantam in 1994
Additional resources -

Comment/Join this discussion ( 0 ) | RSS/XML | Blog This |

Additional resources:
  More Ideas and Technology from Heavy Weather
  More Ideas and Technology by Bruce Sterling
  Tech news articles related to Heavy Weather
  Tech news articles related to works by Bruce Sterling

Articles related to Culture
China Social Credit System Like State-Run Whuffie
Sex In Driverless Cars? Updated With Video!
Xinhua AI Anchor Puts CGI Face To Automated News
Wirewax Watching You Watch, Adjusting Your Experience

Want to Contribute an Item? It's easy:
Get the name of the item, a quote, the book's name and the author's name, and Add it here.

<Previous
Next>

Google
  Web TechNovelgy.com   

 

 

Technovelgy (that's tech-novel-gee!) is devoted to the creative science inventions and ideas of sf authors. Look for the Invention Category that interests you, the Glossary, the Invention Timeline, or see what's New.

 

 

 

 

More News

Unfurl The Future! Huawei Mate X versus Galaxy Fold
'A paper thin polycarbon screen unfurled silently from the top of the unit and immediately grew rigid.'

Amazon Echo And Google Home Should Have Morality Software
'The Dwoskin Morality Rating-Computer could 'spot the slightest tendency to deviation' from the social norm...'

China Building Robot Wives
'Want a life-companion, a pleasant one?'

China Social Credit System Like State-Run Whuffie
'At least there was no mandatory Whuffie check on the monorail platform...'

Project Soli Radar Gesture Chip Now FCC Approved
'He waved his hand and the circuit switched abruptly.'

Stan, Robot Valet, Will Drag Your Car Away
'He activated the grapple tracks. '

Jibo Home Robot Says Goodbye, Is Killswitched
'It resembles an oyster....'

Johns Hopkins Says Asteroid Deflection Will Be Difficult
'This obelisk is one huge deflector mechanism...'

Fabric Automatically Cools Or Insulates Based On Environment
'...a high-efficiency filter and heat-exchange system.'

Deepfakes From OpenAI GPT-2 Algorithm
'How can you compete with an IBM heavy-duty logomatic analogue?'

More SF in the News

More Beyond Technovelgy

Home | Glossary | Invention Timeline | Category | New | Contact Us | FAQ | Advertise |
Technovelgy.com - where science meets fiction™

Copyright© Technovelgy LLC; all rights reserved.