4.7 • 1.1K Ratings
🗓️ 16 January 2025
⏱️ 17 minutes
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In the 1950s, a businessman, looking for a new way to settle his lunch tab, sparked a payments revolution and paved the way for today’s cashless economy. Now, the growing use of stablecoins like USDC is leading businesses and consumers to an era of digital payments that’s even faster and cheaper than a credit card.
This episode is sponsored by Coinbase.
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0:00.0 | Because you're a subscriber to this Bloomberg podcast, we thought you'd be interested in a sponsored podcast called Evolving Money. |
0:07.7 | Produced by Coinbase and Bloomberg Media Studios, it explores how money has changed over the centuries, |
0:13.4 | and whether cryptocurrency is just the next logical evolution of how we pay for things and store long-term value. |
0:20.9 | Here is a recent episode. |
0:25.3 | I never set out to make a radical lifestyle change. |
0:28.8 | I couldn't even tell you when it took place exactly. |
0:32.1 | It just sort of happened. |
0:34.5 | I went cashless. |
0:40.7 | I remember when I'd have to hit the ATM on my way to work. |
0:45.6 | These days, I pay for my morning coffee with my phone, and I tap my credit card when I pick up my dry cleaning. In fact, I hardly ever touch paper money, and this cashless system makes paying for |
0:50.9 | stuff feel totally seamless, until I start spotting the scenes, |
0:55.0 | like a sign at the corner store telling me that I'll be charged an extra 3% if I pay with a credit card. |
1:00.0 | Or that painful moment when a client's just paid me for the work I did, |
1:05.0 | but the bank needs another week to get that money to me. |
1:08.0 | So I've been wondering, is this the best our cashless system can do? |
1:13.2 | And thankfully, the answer is no. |
1:15.4 | It turns out the payments industry is moving into a new era of the cashless economy. |
1:25.7 | This is evolving money from Coinbase and Bloomberg Media Studios. |
1:30.2 | I'm your host, Maggie Lake. |
1:32.0 | On this podcast, we take a different look at cryptocurrency. |
1:35.8 | It's been cast as a radical departure for the monetary system. |
1:39.4 | But what if it isn't radical at all? |
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