Jonas Hedman – Out of cash

Jonas Hedman

Copenhagen business school

From The Conference August 28, 2019

“What is money? In my meaning it’s the best innovation ever. It’s a trust system, we put more trust in money than we do in religion.”

Jonas Hedman is Professor at the Department of Digitalization at Copenhagen Business School. His research interest concerns the digital transformation in the finance sector and includes topics such as cashless society, fintech revolution, payment ecosystems, payment innovations, open API and central bank digital currency.

Money – such as coins, banknotes and account money – are global, general purpose mediums of exchange with an unrestricted usage. In the future, however, experts like Jonas foresee a new type money: one that is intelligent or smart, money that we can program for specific uses. In essence, “smart money” is a value exchange instrument that is based on computer protocols which can facilitate, verify or enforce present conditions for its appropriation as a means of payment.

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