History of Money, 1995 –– 2000

1995

The Age of Electronic Money and Bowie Bonds

Over 90% of all transactions in the US are made electronically.

Mondex introduces the smart card in Britain, which is intended as a replacement for cash.

The Mark Twain Bank adopts DigiCash an anonymous form of digital money developed by cryptographer David Chaum.

1997

Bowie Bonds

David Bowie issues Bowie Bonds which are backed by the copyrights of his previously published songs. It is a remarkable demonstration of the fungibility of money.

1999

The Wuro

The Euro a European single currency is created and becomes the currency of 11 of the member states of the European Union (Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland).

2000 —

The Chiemgauer Flourishes

In the Bavarian region of Chiemgau the local currency the Chiemgauer has flourished. It is one of 16 regional currencies that have sprung up in Germany and Austria since the launch of the Euro.

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