“Soon, you will pay for almost any transaction over the Net or World Wide Web at the same time you place it, using cybercash. This new digital form of money is destined to play a pivotal role in cybercommerce. It will consist of encrypted sequences of multi-hundred-digit prime numbers. Unique, anonymous, and verifiable, this money will accommodate the largest transactions. It will also be divisible into the tiniest fraction of value. It will be tradable at a keystroke in a multi-trillion-dollar wholesale market without borders.”
This is a quote from the 1997 book, written by two men: a journalist, the BBC vice-chairman Lord William Rees-Mogg and a private investor and author James Dale Davidson. Twenty years ago the book “The Sovereign Individual: Mastering the Transition to the Information Age” (TSI) firstly came out, but who knew that what two authors predicted would become true in the form of cryptocurrency? Here are the most exciting facts about the book and its creators.
Who Are The All-Seeing Authors?
When the world saw TSI for the first time, Lord William Rees-Mogg turned 69 years old. During life (the author died three years ago at the age of 84), Rees-Mogg was an honorable journalist. He was an editor at the national newspaper The Times . And living in on the verge of two centuries, he always wrote by hand. It is also astounding how the man, who avoided driving a vehicle, managed to predict the biggest enigma in the realm of information technology.
James Dale Davidson
The co-author of TSI James Dale Davidson is, relatively, the opposite of Mr. Rees-Mogg. He is pretty younger than his colleague and is an American by origin. Being famous for forecasting the future of the US economics consecutively, he also predicted the devastating world’s crisis in 2008. Once, Davidson founded the National Taxpayers Union and is well-known as an economist, even though he has never taken any relative university degree. He made an acquaintance with Rees-Mogg some 20 years before they collaborated writing the foretelling book.
“Back to the Future”
TSI is a history book, concentrating on the developing future. The authors assured that the humanity was on the edge of the immense passage. Within the piece, they not only predicted influenced by encrypted technologies significant changes in the world’s system, which wallowed in the parasitical nature of governments but also coped to describe the new age money, giving precise details about its form and essence.
Besides claiming two decades ago that there would be denationalized cybermoney, the two authors also stated that:
“Each transaction will involve the transfer of encrypted multi-hundred-digit prime number sequences. Unlike the paper-money receipts issued by governments during the gold-standard era, which could be duplicated at will, the new digital gold standard or its barter equivalents will be almost impossible to counterfeit for the fundamental mathematical reason that it is all but impossible to unravel the product of multi-hundred-digit prime numbers. All receipts will be verifiably unique.”
It’s hard to believe, but bitcoin seems to be that cybermoney, which is described in the book of two intellectuals. Sure enough, not everything in the book is true about modern life, but it cannot be denied that there are some coincidences and the overwhelming ones.
Image Source: news.bitcoin.com