![]() Whether you agree with the author's own thoughts on them or not, we should all consider them when making our own choices. ![]() If something sounds too good to be true, it most likely is.Įssentially, this book breaks down the interests behind the slogans. This is that conversation all of us need to have about credit cards, but for pretty much the entire monetary system. Ultimately, this is a really good book that refocuses attention on the fact that the players behind digital money are actively celebrated as a force for good but is still actively malicious and can, has, and will further encroach on our lives if we let them. Perhaps it's just that I've read so much in this space and I'm too picky, but I also felt that his arguments were not as convincing to a mainstream audience. I really wanted to love this book and read it in my bookclub, but liked it and didn't love it. Living in Sweden and seeing the value of the Swish network for small merchants and citizens and seeing how others look to it as a model makes this part frustrating, and I would have loved a realistic look/critique. It was a bit reductive which was a tad frustrating, for example he casts Sweden’s cashless drive as the same as India and Modhi’s without any nuance. Rounded up to 4 stars even though it lacked depth in some areas. I also wish it had gotten more into things like the history of consumer finance regulation and digital finance regulation and the battle of governing money as it could be useful. The book is filled with some interesting stories and analogies but some of them were off the mark and took away from the book. Private companies entrenching themselves as the owners of the financial rails of public money. Pushing global gentrification of standardized corporate chains over traditional small business Can exclude people & business from the financial system Are subject to failure and vulnerabilities Dematerialize money into their own digital chips It is a stark reminder that when we use digital money we are not just using more convenient money but instead strengthening and relying on a network of bank and tech companies who are, among other things: To entrench itself fully in our lives, and stick to our bodies, corporate capitalism needs the money to be digital, and for the ground-level touchpoints to be replaced with standardised apps, hosted in smartphones that follow us wherever we go." "Financial corporations dream of a ‘cashless society’ in which even these tiniest of nodes in the capitalist market will be tethered to their accounts, inserting the banking sector into every pixel of the economic picture. digital transfers) they want to move workers to digital money. He describes the core of capitalism as being corporations and the periphery as the workers, and because the core operates in digital money (e.g. ![]() What it did well was delineate the often overlooked boundary that exists between the conveniences of cashless and the jump to corporate ownership of the means of payment. For those who have little to no knowledge of fintech then it's a good place to start but I really found it lacking in a few areas. A really good into book on digital money from a leftist perspective.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |