Cash from a Crypto Perspective

We often talk about e-money or crypto in terms of cash, let's take a moment to reverse things and talk about cash from a crypto perspective. Then, we see that cash is a hardware-based system for transferring value person to person.

The hardware involved is a transmission device, a storage device, a processing device, and a transport device.

A banknote is a transmission device. It contains and conveys value like a token or digital address in crypto.

A wallet or your pocket is the storage device. Here you store and organize your banknotes as a digital wallet does for tokens.

A cash register is a processing device. It facilitates and records a transaction, transferring the sale to a ledger. A payment app does this work in crypto.

Your body or the mail is the transport device. You need to physically move the banknote to execute a transaction. In crypto, you have electronic networks of various types.

So, if you are in the banknote business and want to embrace the future, you may want to consider creating your own cryptocurrency, exploring cryptobanknotes (connected banknotes), designing digital wallets and payment apps, and you may want to explore blockchains. Basically, a banknote printer is in the payment business. It's just a different technology.