Apple Pay Cash and stateless cryptocurrency

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Apple must by now be close to launching its promised Apple Pay Cash service, and when it does it will be taking a big step toward building its own kind of multinational cryptocurrency.

Money, money, money

While it’s only funny in a rich man’s world, the chasm between money as a tangible asset and cash as an item on a digital balance sheet isn’t hard to see.

From the trillions spent by future generations to bail out the banking system to the eye-watering cost of property loans, so much of this cash is invented by itself in a closed loop system and then traded by consent.

The fintech industry is making billions by trading digital assets, and the need to protect and internationalize those numbers is driving a growing number of traditional financial service providers to move toward adopting Blockchain based accounting systems.

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