UNIVERSITY PARK — In 1729, when he was 23 years old, Benjamin Franklin authored a pamphlet titled « A Modest Inquiry into the Nature and Necessity of a Paper Currency. » The revolutionary idea he advocated? Paper money printed and controlled by the Colonies. As a printer by trade, Franklin himself created some of the earliest American currency and fittingly, today Franklin’s face is emblazoned on the largest denomination of U.S. currency in circulation — the $100 bill, aka « a Benjamin. »
The questions Franklin raised about the nature of money and its regulation in society are still relevant. It’s easy to imagine that the famously prescient and witty statesman would have an opinion or two about the controversial emerging currencies of today’s digital economy.
Could digital currency be poised to replace paper money?
The pursuit of an independent digital currency began in the early 1990s, explains John Jordan, clinical professor of…
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