Be Afraid, be Very Afraid… Why Fiat is Right to Fear Digital Currency

The aim of this article is to provide an extra perspective on a section in our recent (and upcoming) EU H2020 grant bids that outlines the history and function of fiat money in relation to digital currency. To our mind, this section in our grant bids does a better and more transparent job of explaining in plain English the similarities (and differences) between fiat and digital currency than many a so-called “economist” is prone or wants to do (and for very good reason). The question at the outset is obvious and compelling: why would mainstream economists want to obfuscate through their borderline…...