Only six percent of the most groundbreaking American innovations of the last forty years, came out of universities.

Stefan Fölster, Robotrevolutionen, 2015

Up until 1948, China had multiple national currencies. That is to say, banknotes issued by governmental and private banks co-existed and competed with each other. If that seems weird now it’s because we have national banks (the Swedish one happens to be the oldest one in the world), which were invented exactly to prevent this phenomenon. Crypto on the other hand, were invented to circumvent central control (which is why China banned Bitcoin). Does that mean there can never be one digital currency to rule them all?

Eswar Prasad, the Future of Money, 2021