Payments technologies, financial innovation, and laissez-faire banking

The concept of laissez-faire banking is profiting from the latest technologies in credit cards and pre-paid cards. While the trend can replace currency notes, the electronic currency combined with the present financial innovations can result in a stable laissez-faire banking system. Trade transactions will be done through debiting and crediting of liquid wealth and fiat money will continue to be of value as asset money. Further, the accounting system of exchange will coordinate economic activity more efficiently compared to monetary exchanges.