The pioneers of digital cash were guided by philosophical and social commitments on authority, sovereignty and value
The philosopher Walter Benjamin endured Germany’s economy after World War I and observed that when financial disaster strikes and inflation runs rampant, “all close relationships are lit up by an almost intolerable, piercing clarity in which they are scarcely able to survive. . . . Money stands ruinously at the center of every vital interest.”
What was true for the Weimar Republic applies equally in our own day. Money has a lethal power to expose our transactional nature. It matters, then, how we understand money, because...
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