Tons of companies print their own money. It's just called "miles", "points", "coupons", "credits", etc. - but it is a medium of exchange that can be used to buy stuff at this company, i.e. money. Of course, airline workers would never agree to be paid entirely in miles, but probably would not mind getting their hands on some more of them.
Paddy's Dollars had numerous problems, biggest of which was seigniorage. Because of the expensive print colors used on on the bills (then justified as an 'old poor' move), it cost more to issue Paddy's $ than what the tokens themselves were worth.
Even Canadian Tire's going digital with their money:
https://en.m.wikipedia.org/wiki/Triangle_Rewards
Though for now the actual Canadian Tire Money still exists alongside their new digital reward system.
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Hey, anyone remember the last time companies printed their own money? Man, the return of company scrip. I don't see at all how this can turn out bad.
Tons of companies print their own money. It's just called "miles", "points", "coupons", "credits", etc. - but it is a medium of exchange that can be used to buy stuff at this company, i.e. money. Of course, airline workers would never agree to be paid entirely in miles, but probably would not mind getting their hands on some more of them.
Those programs are at least honest in the way they bill themselves: "loyalty programs".
Yeah, if I remember correctly, a company called Paddy's Pub tried it a few years ago: https://www.youtube.com/watch?v=cyxxE1AcUSM
Paddy's Dollars had numerous problems, biggest of which was seigniorage. Because of the expensive print colors used on on the bills (then justified as an 'old poor' move), it cost more to issue Paddy's $ than what the tokens themselves were worth.
Yes. Perfect execution of a Self-Sustaining Economy.
And this time it's stored digitally on their servers, so they can just steal it whenever you violate some vague ToS clause.
Like Apple and Google's behaviour? Ah I see.
IMO this is worse than Canadian Tire money
Even Canadian Tire's going digital with their money: https://en.m.wikipedia.org/wiki/Triangle_Rewards Though for now the actual Canadian Tire Money still exists alongside their new digital reward system.
Actually, HSBC prints Hong Kong Dollars (shared with Bank of China and another bank). https://en.wikipedia.org/wiki/Banknotes_of_the_Hong_Kong_dol...
Also Standard Chartered and Bank of China
I think those are called gift cards and they still exist.