Money is not static because it is a technology

Each time the technology of money changes what it is - its essence seems to change with it. Its not that money is transformed by technology it is a technology and  therefore some of the same rules that apply to other technologies apply to it. This is almost entirely ignored by economists. However, cryto-currencies are sure going make this impossible to ignore any longer.

The Bank of Canada has announced that it will be doing its own watching and analysis of digital money.

Two links: this one http://www.bankofcanada.ca/2014/11/money-digital-world/

and this one http://www.bankofcanada.ca/2014/11/keeping-close-eye-e-money-carolyn-wilkins/

I'll watch this space with interest.

Cryto-currencies may be moving slightly slower than other technologies at the moment but for money its changing its landscape at high velocity

FAA drone update

25 September 2014

U.S. Transportation Secretary Anthony Foxx today announced that the Federal Aviation Administration has granted regulatory exemptions to six aerial photo and video production companies, the first step to allowing the film and television industry the use of unmanned aircraft systems (UAS) in the National Airspace System.  Secretary Foxx made the announcement on a conference call with FAA Administrator Michael Huerta and Chris Dodd, chairman and chief executive officer of the Motion Picture Association of America, Inc. 

Secretary Anthony Foxx also determined that the UAS to be used in the proposed operations do not need an FAA-issued certificate of airworthiness based on a finding they do not pose a threat to national airspace users or national security. Those findings are permitted under Section 333 of the FAA Modernization and Reform Act of 2012.

“Today’s announcement is a significant milestone in broadening commercial UAS use while ensuring we maintain our world-class safety record in all forms of flight,” said Secretary Foxx. “These companies are blazing a trail that others are already following, offering the promise of new advances in agriculture and utility safety and maintenance.”

https://www.faa.gov/news/press_releases/news_story.cfm?newsId=17194