Science Fiction
Dictionary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
 |
Tether Cryptocurrency Flow Rate US$190Bn Per Day
Tether is a cryptocurrency that mediates almost as many transfers of money as Visa does. It is a stablecoin, pegged 1:1 to the U.S. dollar.
Tether is arguably the first successful real-world product to emerge from the cryptocurrency revolution that began over a decade ago. It has made its owners immensely rich. Tether has $120 billion in assets, mostly risk-free U.S. Treasury bills, along with positions in bitcoin and gold. Last year it generated $6.2 billion in profit, outearning BlackRock, the world’s largest asset manager, by $700 million.
(Via MSN.)
My introduction to the idea of electronic cash occurred in 1994, when I read a really enjoyable short novel, Heavy Weather, by Bruce Sterling:
...
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.
(Read more about Bruce Sterling's electronic cash)
in dysfunctional economies such as Argentina and Turkey, beset by hyperinflation and a shortage of hard currency, tether is also a lifeline for people who use it for quotidian payments and as a way to protect their savings.
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.
Scroll down for more stories in the same category. (Story submitted 9/5/2024)
Follow this kind of news @Technovelgy.| Email | RSS | Blog It | Stumble | del.icio.us | Digg | Reddit |
Would
you like to contribute a story tip?
It's easy:
Get the URL of the story, and the related sf author, and add
it here.
Comment/Join discussion ( 0 )
Related News Stories - (" Culture ")
Has Elon Musk Given Up On Mars?
'There ain't no such thing as a free lunch.'
'They Erased My Memory' Says Ariana Grande
'...using a neutralizing electronic impulse.' - Edmond Hamilton, 1948.
'Spikeless' Brand Swizzle Stick Detects Spiked Drinks
'the unobtrusive inspections with tiny remote-cast snoopers...' - Frank Herbert, 1964.
Musk Proposes Sites For Martian Cities
'...its streets were of remarkable width, with few or no buildings so high as mosques, churches, State-offices, or palaces in Tellurian cities.' - Percy Greg, 1880.
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.
Science Fiction
Timeline
1600-1899
1900-1939
1940's 1950's
1960's 1970's
1980's 1990's
2000's 2010's
Current News
China Steals Strato Airship Design From Google App Engine
'...war-balloons, or, as it would be more correct to call them, navigable aerostats.'
The First Space Warship For Space Force
'Each of the electrical ships carried about twenty men...'
Biohybrid Jellyfish Explore The Ocean
As predicted, and detailed, by science fiction writers!
Should AIs and AI Robots Demand Rights?
'This robot is a creature... It is a manlike being. Therefore, like any other talking, thinking man, he is entitled to a court trial!'
Robot Learns Human Tool Usage By Imitation Learning
'I got one of those new electronic cameras...'
Companion Caregiver ChatGPT Dolls
'Every Artificial Friend is unique, right?'
'Pregnancy Humanoids' From China Replace Moms
'A great many of these synthetic babies were made...'
Man Builds 200 Foot Basement Firing Range
'The basement was huge... carved deep into the rock.'
Russians Create Robot Tank Platoons
'The remotely-operated robot tank is an old idea...'
3D-Printed Exoskeleton Learns From Your Hand
'...small electric motors at the principal joints worked the prosthetic framework by means of steel cables...'
Smartwatch Powered By Slime Mold
'Living protoplasm incorporated into the Ampek F-a2 recording system...'
Unmanned Boats Attack At Sea
'The autofreighter smashed into the boat...'
Carpentopod Walking Table
'Twoflower's Luggage, which was currently ambling along on its little legs...'
Iron Drone Raider Counter-UAV Operations
'You've got an aggressive machine up in the air now.'
SpaceX Rocket Shuttle Point-To-Point On Earth
'He came to as the ship went into free flight, arching in a high parabola over the plains...'
Quaise Uses Beams Of Energy To Dig Geothermal Wells
'The peculiar quality of this light, which gave it its great preeminence over all other penetrating rays...'
