The emergence of cloud banking in developing economies from billions of cell phones transacting both legal tender and informal units of accounts has created a need to reconsider habits of thinking about the nature of money and banking in advanced societies. The dysfunctional nature of modern...

The paper presents four non-exclusive options for reforming the economy and the financial system. Three options reintroduce cost-carrying money as supported by Gesell1, Fisher2 and Keynes3, but in electronic form. One variant is a government issue redeemable into official money as proposed by...