The prediction, in brief:

While it will take years, perhaps decades, for e-money to replace hard currency in the physical world, the virtual world not only can’t accommodate the current system, but is desperate for immediate implementation of the digital equivalent. Everyone agrees that the Internet is the staging ground for the first true boom in electronic commerce, but it’s a transactional wasteland. You can’t buy anything without a credit card. You can’t even collect on a $2 bet with a friend.

Predictor: Levy, Steven

Prediction, in context:

In a 1994 article for Wired magazine, Steven Levy covers the future of electronic money. Levy writes:”Cyberspace is destined to be the first battleground of the digital money wars. While it will take years, perhaps decades, for e-money to replace hard currency in the physical world, the virtual world not only can’t accommodate the current system, but is desperate for immediate implementation of the digital equivalent. Everyone agrees that the Internet is the staging ground for the first true boom in electronic commerce, but it’s a transactional wasteland. You can’t buy anything without a credit card. You can’t even collect on a $2 bet with a friend.”

Biography:

Steven Levy was a 1990s technology journalist. He wrote on the topic for decades for such publications as Newsweek and Wired. He is the author of the books “Hackers,” “Artificial Life” and “Crypto.” (Author/Editor/Journalist.)

Date of prediction: December 1, 1993

Topic of prediction: Economic structures

Subtopic: E-cash

Name of publication: Wired

Title, headline, chapter name: E-Money (That’s What I Want)

Quote Type: Direct quote

Page number or URL of document at time of study:
http://www.wired.com/wired/archive/2.12/emoney_pr.html

This data was logged into the Elon/Pew Predictions Database by: Lusk, James T.