It all started out innocently enough with high expectations. In the “early” days of the ‘60s and ‘70s, frequent news stories appeared with headlines like these: 

  • “Few Believe it, but Society May Become Checkless” – Houston Chronicle, August 31, 1971 
  • “Checkless Society a Step Closer” – The Sunday Oklahoman & Times, April 17, 1976 
  • “Get Ready for Cashless, Checkless Living” – CHANGING TIMES, October 1975 
  • Bob Considine, March 1974: “All signs point to a day, perhaps not too far off, when money will go out of style. Computerization is already well on its way to completely revolutionizing the banking business. The banks, naturally, welcome the new day coming.” 

 By the time I wrote my first book in 1974 – Cashless Society: A World without Money – I had plenty of resources and experts in the fields of banking and computer technology to glean from. Eventually, they assured me, everything was going to go digital, including money. Everything that could be digitized would be digitized. Exchange of funds would fly at the speed of light. 

 In those pre-Internet days (nearly ten years before the debut of the World Wide Web), I knew a central computer system would one day oversee every financial transaction … so, I called it Cencom, for “central computer.” Cencom would approve or disallow every transaction from every port-of-sale, including gasoline pumps, soda machines, and corner street vendors.  

 When I was approached by that first publisher to consider writing a sequel to the book 25 years later in 1998, the buzz surrounding the idea of a cashless society had all but disappeared. My response to the request was somewhat cynical, but I also knew that, in the background, the trend was continuing to evolve. I had evidence of that as well. 

 As I thought more on the matter, I kept wondering if there was something else we could call it aside from “cashless society.” Then it hit me! “Diginomics” for “digital economics”! That was it! 

I went on an immediate search online for that word. Interestingly … surprisingly … I could not find it anywhere! I went to my local library and checked every English dictionary and reference book I could find. “Diginomics” was nowhere to be found. So, I did the next best thing: I sent letters (First Class mail) to every English dictionary in the nation, submitting the word as a “new word.” I then published it in a newsletter I was producing at the time to subscribers across the nation: TransWorld Monitor … Vol. 2/No. 48, December 1, 1998.1  

 Diginomics was now alive and official! 

 In 2007, our first breakthrough with a highly respected dictionary came when The Merriam-Webster Online Dictionary accepted my submission of the word as a “new word in the English language.”2 Soon thereafter, other online reference sources received and posted the word.3 We were on our way! 

 And that opened more doors. From 2008 forward, the word has literally spread worldwide. Forbes published an article in its July 24, 2008 edition with a single title: “Diginomics”!4 Numerous tradeshows, conferences, seminars, articles and websites have featured Diginomics in their titles and functions. Two books have been written with “Diginomics” as their main title, including one published by a couple of professors at the University of Palermo in Spain.5  

 Stay tuned! More to come … 

“The digital economy, Diginomics, has completely changed the rules of the game. It brings enormous opportunities for start-ups. And great risk for those established.”  Stralfors of Sweden6 

 

“The Seoul Metropolitan Government has selected ‘diginomics’ as a new strategy to boost city growth. Diginomics is a new term combining the terms ‘digital’ and ‘economics,’ and refers to an economic focus on the development of digital industries. Seoul mayor Park Won-soon expressed his determination to invest a total of 460.5 billion won in policies and businesses related to diginomics over the next five years with the announcement of the ‘Seoul Digital Plan 2020.’ A new entity called the Seoul Digital Foundation will serve as a think-tank as well as a platform to invigorate diginomics.”

– SEOUL, Feb.23, 2016 (Korea Bizwire)

Author

Wallace Wood

The idea of diginomics came as Wallace R. Wood, a futuristic journalist and author in Houston, considered a request from the publisher of his first book, Cashless Society: A World Without Money (1974). Wallace was to write a sequel to his first book 25 years after the fact about a remarkably different, and nearly cashless society. He now runs operations at Diginomics Central where he publishes writings and media content about the rise of digitized society.

Comments

  • Reply

    ViktoZer

    14 08 2018

    Возможно кто то сталкивался. От родственников осталось большое количество книг.
    Читать их нельзя, условия хранения их испортили, собственно по виду это бумага в переплете.Слышал что сдают в макулатуру.
    Но куда?
    Есть кто из Краснодара? Может подскажете?
    Спасибо!

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