THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

paper books, a printer-binder - located in the corner of the 'book
shop', at the Post Office, or at a copy-centre - could even prepare such
paper books to order. They could be hardcover or paperback, large or
small print, with everything always 'in stock', exactly when the
customer prefers it. The first 'print-on-demand' (POD) book was
demonstrated at the 1998 'Chicago Book Expo'. The time from when
the moment the book is ordered to when it is handed to the customer
is less than five minutes, and it can be sold at the same price as a
mass-produced book. During these five minutes, the book is
downloaded, printed and bound, producing an exact clone of the
normal edition. Is this another nightmare or dream in the making?
Another example of an industry (publishing) hit by the information
revolution? Another sign that an age is dawning where we will
breathe life into Cleveland's vision of increased choice and the
democratic availability of information as the key resource?
Implications for money
An inscription in the lobby of New York's Library of Science,
Industry and Business reads: 'Information about money has become
almost as important as money itself.' The quote is from Walter
Wriston, ex-Chairman of Citibank. He should know. Under his
Citibank became the biggest guidance and that of his successor,
Investor of all banks in Information Technology ($1.75 billion in1995).
Money made an early entry into the Information Age. Most
financial transactions have been computerised for decades. Most of is
likely to reside in a bank or a brokerage account, i.e. in a computer
somewhere. The development of the cyber economy simply means
that other aspects of economic activity are finally catching up with
money in cyberspace.
Payment systems