Programmable Digital Currency will revolutionize the world economy and how we do business. Ideas of Socialism and Equality are the main thrusts of this new way of doing things. "Make everyone equal" is the mantra of the day. With programmable digital currency, this will soon become a scary reality. Being born with a silver spoon will no longer be much of a factor.
1). No generational wealth - programmable digital currency will expire at one's death or thereabouts. Since your digital wallet will be tied to your person in some fashion, this will happen instantaneous.
2). Reduced crime - No sense in a Cayman Island account to hide money when programmable currency will make this a moot point. No more bank holdups and/robberies.
3). Tax system will be different. A certain amount of your digital currency will flow right back to the government or expire.
4). Spend it or lose it. Better spend it before the expiration date!
5). Universal income - expired money such as from people dying or expiration will fund the money supply to pay a universal income. Wealth distribution............
What about cash? Cash will have a strip in it that will be scanned when you spend it converting it into digital currency for the vendor and deposited into their account. Then the paper money will be useless like it already is and can be literally thrown away as it is not worth anything.
These are just some of things that could possibly happen. The idea that imagination can be matched with technology makes this extremely realistic and scary depending on who you are.
